Q3 2020 Business Update amid Covid-19

Business performance: operating expenses - - Continued cost discipline results in lower expenses yoy Group 0.7% -0.5% 5.9% 1,015 1,003 1,008 -0.6% 0.5% 165 1.1% AT/EBO e 164 1.4% • 166 262 0.2% AT/SB 263 -0.2% 262 95 -3.7% AT/OA 86 91 186 -4.4% CZ 177 178 85 RO 81 84 72 -3.3% SK 72 -3.0% 69 52 -4.4% HU 52 -4.7% 49 HR 44 555 54 54 0.0% -0.5% 54 13 6.5% RS 15 -2.4% 14 32 Other 40 Not meaningful 39 in EUR m 776 229 3.9% YOY Q3 19 QoQ Q2 20 Q3 20 Yoy costs continue positive development; higher wages and higher IT expenses offset by lower consulting and marketing expenses Qoq minor cost increase mainly due to higher wages and depreciation Year-on-year segment trends: CZ: declining operating expenses driven by lower marketing and travel costs, offsetting higher personnel expenses resulting from higher salaries; FX impact: -EUR 5.3m AT/OA: improvement driven by lower personnel and consultancy expenses in the Holding Quarter-on-quarter segment trends: RO: operating expenses increase on IT, mainly due to the roll- out of George AT/OA: higher IT (run the bank) costs in the Holding SK: lower marketing and consultancy expenses ERSTEŚ Group Page 32

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