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5.0% to 6.1% 120 3.2% 0.8% 6.0% 100 1.0% -6.0% to -7.4% -3.1% -11.9% 60 80 -8.7% 60 60 -15.0% 40 40 4Q2020 1Q2020 Cyprus Euro Area 2Q2020 2020E1 2021E1 Cypriot economy: nascent signs of recovery appear post lockdown Cypriot economy recorded a drop of 11.9% in 2Q2020 vs 15.0% decline in Euro Area Economic Sentiment starting to improve post lockdown Tourism arrivals (mn) impacted by COVID-19 lockdown Jan Feb Mar 2019 Bank of Cyprus Holdings -85% yoy 0.55 0.06 Apr May Jun Jul 2020 Source: Cyprus Statistical Service, Economics Research centre of the University of Cyprus and Eurostat (1) GDP projections under the base scenario of: the Ministry of Finance, the EBRD, the European Commission and the Economics Research centre of the University of Cyprus Feb-14 May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 Nov-18 Feb-19 • • • Cypriot economy contracted by 11.9% in 2Q2020, reflecting COVID- 19 lockdown Restart of the economy as of early May 2020, post lockdown Unprecedent policy response to mitigate COVID-19 impact Economic sentiment index improved since May 2020, driven by improvement in confidence in nearly all sectors as well as improvement in consumer confidence Weak international summer tourism arrivals, although partly offset by domestic tourism 9 May-19 Aug-19 Nov-19 Feb-20 May-20 Aug-20 Group Financial Results for the six months ended 30 June 2020

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