Investor Presentaiton

Dec 12 Apr 13 Jul 13 Oct 13 S&P credit ratings Jan 14 Apr 14 Jul 14 Oct 14 Jan 15 Apr 15 Jul 15 Oct 15 Jan 16 Apr 16 | 91 լոՐ Oct 16 80 60 40 884 120 100 Cyprus maintains investment grade Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan 17 Apr 17 Jul 17 Oct 17 Jan 18 Cyprus Portugal Italy Spain Greece Ireland SOURCE: Statistical Service of Republic of Cyprus; Bloomberg, Economics Research Centre of University of Cyprus and Eurostat Normalised against Germany Government bond with maturity 15/8/2025 except Greece 1) Bank of Cyprus Holdings Apr 18 Jul 18 Oct 18 Jan 19 Apr 19 Jul 19 Oct 19 Jan 20 Apr 20 Jul 20 Oct 20 Jan 21 2) Cypriot economy more resilient than anticipated earlier in the year Economic sentiment remains volatile and reflects COVID-19 uncertainty BB- Jan-19 Jul-19 Jan-20 Jul-20 ■ AA- A BBB- BBB Spreads (%) Jan-21 8.3% 8.5% 111.0 7.8% 8.3% 7.3% 7.3% 7.4% 8.1% 7.8% 79.8 7.6% 72.9 7.2% 7.2% 6.7% 6.7% 0.5 0.4 0.3 0.2 0.1 0 -0.1 Jan 2019 Feb 2019 Apr 2019 May 2019 Unemployment rate increased to 8.5% in 4Q2020 9.4% 8.9% Tightening of spreads as market confidence improves Nov 2019 Dec 2019 Feb 2020 4Q2019 1Q2020 -Cyprus 2Q2020 Euro Area 3Q2020 4Q2020 2020 Estimate Estimate 2021E 2022E Cyprus maturity 4/11/2025 Italy maturity 01/12/20251 Portugal maturity 15/10/20251 Greece maturity 30/01/20282 Spain - maturity 31/10/20251 Due to the Debt swap of the Hellenic Republic, from November 2017 onwards data for the new Hellenic Republic Bond with maturity 30/01/2028 was used and normalised against the closest maturity of German Government bond (DBR) 15/08/2027 Mar 2020 45 Aug 2020 Sep 2020 Nov 2020 Dec 2020 Feb 2021 Group Financial Results for the year ended 31 December 2020

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