Investor Presentaiton

Drivers of NIM NII broadly flat qoq Group Financial Results for the nine months ended 30 September 2020 Effective yield on assets & cost of funding 199 187 195 188 179 NII (€ mn) 90 84 85 83 82 NIM (bps) 3 - Non-Legacy Legacy -Liquids Cost of funding 110 Liquids1 5 102 100 95 4 Legacy 29 29 2. 5 23 23 24 24 18 17 576 560 52 95 485 452 446 Non-Legacy 76 75 72 2 75 15 73 73 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 338 7 3360 330 324 338 327 8 4 10 -39 -38 -30 -25 -23 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Effective yield of liquids improved to 10 bps, following €1 bn participation in TLTRO III (€5 mn annual benefit) • Challenging interest rate outlook continues to put pressure on the effective yield of liquids Non-Legacy book yields remain under pressure mainly due to the continued lower interest rate environment and intense competition pressure Despite competitive pressures, efforts to improve credit spreads are underway Higher-yielding, higher-risk legacy loans are reducing as we successfully exit NPEs Reduction of cost of deposits continues (down by 2 bps qoq) to 6 bps in Sep 2020 Net derivative -3 -3 -3 Other 2 -3 -6 -6 -6 -6 Subordinated -6 -3 loan stock -3 -5 -8 -12 Customer -13 • -8 -15 deposits -18 -20 1) Cash, placements with banks, balances with central banks and bonds 2) Other includes funding from central banks and deposits by banks and repurchase agreements. For further details, please see slide 77 3) 4) Effective yield of liquid assets: Interest income on liquids after hedging, over average liquids (Cash and balances with central banks, placements with banks and bonds) Effective yield of cost of funding: Interest expense of all interest bearing liabilities after hedging, over average interest bearing liabilities (customer deposits, funding from the central bank, interbank funding, subordinated liabilities) Bank of Cyprus Holdings 13

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