GFNORTE GBOOY XNOR

Best Bank 2019 México

1 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App 4Q20 Expectation of a recovery in 2021

2020 GDP estimate GDP* 2020-2021 GDP estimates % y/y (nsa), % q/q (sa) % y/y (nsa), % q/q (sa) % y/y

% y/y 1Q20 2Q20 3Q20 4Q20 2020 20 15.5 2020 2021 GDP -5.4 15.5 5.2 3.2 4.1 15 12.1 Banorte -9.0 4.1 10 Consumption -6.9 19.2 9.5 7.1 6.5 5.2 5 3.2 Enc. Citibanamex -9.0 3.5 0.8 Investment -12.8 24.1 8.9 3.4 4.3 0.5 0.7 1.0 0.6 0 Enc. Banxico -9.0 3.4 -1.2 Government -3.7 -2.3 -2.6 1.5 -1.8 -5 spending SHCP -8.0 4.6 -1.4 -17.0 -5.4 -10 -7.4 -8.6 Banxico -8.9 3.3 Exports -2.8 31.9 5.4 2.8 7.7 -15 % q/q Imports -7.0 25.3 17.6 9.5 10.2 IMEF -9.0 3.5 -20 % y/y -18.7 % q/q -25 Bloomberg -9.0 3.5

GDP 0.8 0.7 1.0 0.6 -- Reuters -9.9 3.0

2Q20 1Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 *Note: Dotted lines indicate forecasts Source: INEGI, Banorte

2 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App The fall in 2020’s GDP would be the steepest since 1932, with a moderate recovery in 2021

Mexico GDP % y/y 15

10

5 4.1

0

-5

-10 -9.0

-15 -14.0

-20

1899 1992 2010 1896 1902 1905 1908 1911 1914 1917 1920 1923 1926 1929 1932 1935 1938 1941 1944 1947 1950 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1995 1998 2001 2004 2007 2013 2016 2019

Source: 1895-1980 (Historical archive from Jonathan Heath); 1980-To date (INEGI).

3 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App However, the great difference to those are inflation levels

Nominal governmental interest rate, inflation and annual exchange rate depreciation % 300 Interest rate Inflation Annual exchange rate depreciation

250

200

150

100

50

0

-50 Feb-80 Dec-85 Oct-91 Aug-97 Jun-03 Apr-09 Feb-15 Dec-20

Source: Banorte with data from INEGI and Banxico *Interest rate(1980-Sep 1982: CPP; 1982-…: Cetes; Exchange rate: 1980-Nov 1991: ‘para solventar obligaciones en moneda extranjera’; Nov 1991-…: Fix)

4 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Banking sector KPI’s

Non performing loans ratio Capitalization ratio % of total loan portfolio % of net capital / credit risk assets 10 Consumer 40 8 Mortgage Capitalization ratio Corporate 35 Banking sector's average 6 5.0 30 4 3.2 25 2 21.12 1.9 0 20 17.21 Jan.-07 Apr.-09 Aug.-11 Dec.-13 Mar.-16 Jul.-18 Nov.-20 15 Coverage ratio 10 % of loan loss provisions/NPL 5 200 193.3 180 0

160

HSBC

Bansí

Invex

Afirme

Monex

Inbursa Autofin

Multiva

Finterra

Banorte

CIBanco 140

Bancrea

Actinver

Sabadell

BIAfirme

Banregio Banamex

Bankaool 153.7

Santander

Bancoppel

Scotiabank

Banco Base Banco

Ve por Más por Ve

ABC Capital ABC Banca Mifel Banca

Consubanco 120

Banco Azteca Banco

Compartamos

Accendo Banco Accendo

Banco del Bajío del Banco

Intercam Banco Intercam BBVA Bancomer BBVA Bank of America of Bank 100

Inmobiliario Mexicano Inmobiliario Dec.-07 Jan.-10 Mar.-12 May.-14 Jul.-16 Sep.-18 Nov.-20

Source: CNBV, Banorte with data as of Nov.-20

5 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App ‘Recovery plan’ to return back to ‘normal’ from COVID-19 ▪ Four-month advance to the senior citizen pension Programs from Development Banks ▪ Support for: MX$ billion, US$ million, % of GDP ⎯ Fishermen Institution Measure MXN USD* % of GDP** ⎯ Children with disabilities Total 61.1 2,535 0.25 ⎯ Benito Juárez Universities Liquidity support for companies in the BANOBRAS 6.0 249 0.02 ⎯ Savings for people without access to financial services infrastructure sector ⎯ Agriculture NAFIN / Liquidity support for "first-floor" financial 10.0 415 0.04 ⎯ Upkeep for schools BANCOMEXT institutions NAFIN / Liquidity support for "second-floor" financial ▪ Programs for: 20.0 830 0.08 ⎯ Apprenticeships BANCOMEXT institutions NAFIN / Guarantees program for companies and ⎯ Internet for everyone 6.3 261 0.03 ▪ Guarantee prices BANCOMEXT businesspeople Stabilization of syndicated loans provided to ▪ SHF 8.8 365 0.04 Toluca – City Train construction companies ▪ Construction of branches of El Banco del Bienestar ▪ Recruitment of 31 thousand new elements for the Army, Navy SHF Additional financing for "second-floor" bridge loans 6.0 249 0.02 and National Guard SHF Small loans for housing improvements 2.0 83 0.01 Attention scheme for the restructuring of debtors' ▪ FND TBD Rural concrete roads loans ▪ New credits and refinancing from INFONAVIT FND Measures to support the Rural Economy TBD ▪ ‘Sowing Life’ program will extend to 200 thousand farmers Banco del Clients' Program 2.0 83 0.01 ▪ Expedited returns of VAT to taxpayers Bienestar ▪ No increase to taxes or adoption of counter-cyclical measures or Banco del Outreach Program TBD corporate bailouts to businesses or banks Bienestar Banco del ▪ Elimination of 10 deputy ministries Reactivation of credit demand TBD ▪ Reduction of 25% in wages of high-ranking workers (Deputy Bienestar Extension of the period to divest affected Director and upwards) and end-of-year bonus elimination FOCIR TBD ▪ companies Savings of 75% in general spending and supplies categories Suspension of commission payments for the FOCIR TBD management of FICAS Source: Banorte and Presentation from Beatriz Leycegui (SAI, April 15, 2020) USD/MXN: 24.10 **Nominal GDP in 2019 FOCIR Emerging Program "COVID 2020 - FOCIR-SE" TBD

6 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App …and strengthen credit channels Additional measures announced by Banxico to promote liquidity and strengthen credit channels MX$ billion, US$ billion, % of GDP Measure MXN USD % of GDP Total1 800.0 35.6 3.3 Provide liquidity and reestablish operational conditions in money markets (1) Reduction of the Monetary Regulation Deposit 50.0 2.2 0.2 (2) Adjustments to the Ordinary Additional Liquidity Facility interest rate ------(3) Increasing liquidity during trading hours to facilitate the optimal functioning of financial markets and payment systems ------(4) Extending the securities eligible for the Ordinary Additional Liquidity Facility ------(5) Extending the counterparts eligible for the Ordinary Additional Liquidity Facility ------(6) Temporary securities swap window 100.0 4.4 0.4 Promote the orderly behavior in governmental and corporate bond markets (7) Strengthening of the Government Debt Market Makers Program ------(8) Government securities term repurchase window 100.0 4.4 0.4 (9) Swap of government securities 100.0 4.4 0.4 (10) Securities Repurchase Facility 100.0 4.4 0.4 Strengthen credit channels (11) Provision of resources to banking institutions to channel credit to MSMEs and individuals affected by the COVID-19 pandemic 250.0 11.1 1.0 (12) Collateralized financing facility for commercial banks with corporate loans, to finance MSMEs 100.0 4.4 0.4 Promote the orderly behavior of the foreign exchange market (13) Non-deliverable FX forwards program expansion ------(14) USD credit auctions (financed with the swap line facility with the Federal Reserve) ------(15) Foreign exchange hedges settled by differences in USD ------

Note: 1. The total only adds up facilities for which we have information; 2. Using an exchange rate of USD/MXN 22.50 NA = Not available Source: Banxico, Banorte

7 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Initial impact of COVID-19 lockdowns in Mexico and the path towards recovery

IMEF’s PMIs Industrial production Auto production Diffusion index Index base 100= 2013 , sa % y/y 56 120 100 54 80 110 52 60 50 40 48.7 100 48 48.1 20 18.4 46 90 0 44 -20 42 80 Total -40 40 Manufacturing -60 38 70 Manufacturing Mining -80 36 Non-manufacturing Construction 34 60 -100 Dec-15 Jun-18 Dec-20 Nov-10 Nov-15 Nov-20 Dec-06 Dec-13 Dec-20

Source: INEGI, IMEF, ANTAD

8 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Initial impact of COVID-19 lockdowns in Mexico and the path towards recovery

Formal job creation Auto sales ANTAD’s same-store sales Thousands, seasonally adjusted* % y/y % y/y in nominal terms 200 30 15 20 100 97 10 10 5 0 0 0 -100 -5 -10 -6.2 -10 -200 NSA: -20 -19.4 April: -555 -15 May: -345 -30 -300 -20 June: -83 July: -4 -40 -25 -22.9 -400 August: +92 Dec-06 Aug-11 Apr-16 Dec-20 -50 September: +114 Apr May Jun Jul Aug Sep Oct Nov Dec -500 October: +201 November: +149 -493 -60 Supermarkets 8.7 7.0 2.4 3.1 2.1 0.7 4.8 2.6 2.8 -64.5 -600 -70 Departmental -72.7 -49.6 -44.6 -22.6 -1.8 3.5 -0.9 7.4 -9.8 Jun-94 Apr-03 Feb-12 Dec-20 Dec-06 Aug-11 Apr-16 Dec-20 Specialized -17.5 -16.3 -14.5 -9.9 -8.0 -3.5 4.1 -2.5 -9.7 *Note: Seasonally adjusted by Banorte with the ARIMA X-12 method Source: IMSS, STPS, INEGI and ANTAD

9 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App We expect Banxico to resume its easing cycle in February

Inflation forecasts Banxico’s Hawk-o-meter Reference rate forecast % y/y, quarterly average % 9 1T21 2T21 3T21 4T21 Headline Dovish Hawkish Banxico 3.6 4.3 3.1 3.3 8 2019: Banorte 3.0 3.8 2.9 3.3 7.25 7 Core JH GE GB ADL IE Banxico 3.9 3.6 3.0 3.1 Banorte 3.6 3.2 2.9 3.1 6 Inflation forecast Net flows of foreigners holdings % y/y, bi-weekly frequency MX$ billion 5 5.0 100 Headline Core M Bonos Cetes 4.5 3.8 2021: 4 2020: 4.0 0 3.7 4.25 3.5 2021: 3 3.0 -100 3.50 2.5 2020: 3.1 3.2 2.0 -200 2 Dec-20 Apr-21 Aug-21 Dec-21 Jan-20 Apr-20 Aug-20 Nov-20 Dec-15 Dec-17 Dec-19 Dec-21

Source: Banxico, INEGI, Banorte

10 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Mexican peso trading near “fair value”

MXN fair value* and current level USD/MXN forecast USD/MXN USD/MXN 26 Nominal Fair Value 24.50 24 Forecasts 23.50 22

20 22.50 21.60 18 21.50

16 20.50 20.90 14 19.80 19.50 12 19.00 10 18.50 2005 2007 2009 2010 2012 2013 2015 2017 2018 2020 Jan-20 Apr-20 Aug-20 Dec-20 Apr-21 Jul-21 Nov-21

Source: Banorte with data from Reuters and J.P. Morgan *Approximated through the deviation relative to the 5-year moving average of the real effective Exchange rate, Bloomberg

11 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Public debt will increase around 10%-pts of GDP in 2020, resuming its downward trend in 2021

Public debt1 Due to… % of GDP (1) Exchange rate depreciation (30% of total 60 debt is foreign denominated); 54.7 53.7 (2) Fall in revenues, surpassing spending 48.7 cuts, with special assignation due to the 50 46.5 45.7 44.9 44.8 health crisis; 42.6 40 (3) Lower oil output relative to 40 37.2 37.2 expectations, and 34.8 36 36 33.2 32.3 32.9 (4) Fall in nominal GDP for the first time 30.9 31.1 30.6 29.5 since 1980 30 28.8 Credit ratings

20 BBB+ BBB+ Baa1

10 BBB BBB Baa2 BBB- BBB- Baa3

0 BB+ BB+ Ba1

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2000 BB BB Ba2 Source: MoF 1. HBPSBR – Historical Balance of the Public Sector Borrowing Requirements. BB- BB- Ba3

12 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Attention on pending law reform proposals and mid-term elections

Pending law reform proposals Governorship polls Lower House polls %, El Financiero (December 2020) %, Consulta Mitofsky (December 2020) Federal Labor Law – Outsourcing Morena PAN PRI RSP PES 1.9 Fuerza Social 1.3 PT 1.4 MC Banco de México Law – Foreign ZAC 34 7 19 30 Otros 5.2 2.3 3.8 Exchange TLAX 41 11 18 24 Verde PRD Decriminalization of marihuana SON 27 9 21 31 2.0 PRI 3.8 SIN 34 12 17 27 Morena 15.6 New law of the General Attorney’s SLP 34 14 15 29 41.1 Office PAN QRO 29 34 11 21 21.6 Wage Law for public servants NL 26 19 11 33 NAY 35 15 13 32 Other elections in 2021 Probable coalitions in 2021 MICH 38 9 7 34 Elections for State Legislatures in 30 GRO 38 9 13 31 states (ex. Q. Roo and Coah), with 1,063 COL 33 11 15 30 representatives CHIH 29 24 13 26 Elections for 1,926 municipal CAMP 48 9 13 24 governments BCS 32 26 9 24 BC 33 12 11 33 In total, there will be elections for 21,383 positions (including Governorships and 0 25 50 75 100 the Lower House)

Source: Forbes, El Financiero, Consulta Mitofsky, INE

13 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App 2021 mid-term elections in Mexico

% of # State Current Governor Party Approval rate % of GDP % of territory population 1 Baja California Morena 43.0% 3.1 2.8 3.6 2 Baja California Sur PAN 55.3% 1.0 0.6 3.8 3 Campeche Carlos Miguel Aysa González PRI 22.9% 3.0 0.7 2.7 4 Chihuahua PAN 23.9% 3.2 3.0 12.9 5 Colima José Ignacio Peralta Sánchez PRI 23.1% 0.6 0.6 0.3 6 Guerrero Héctor Antonio Astudillo Flores PRI; PVEM 27.5% 1.4 3.0 3.3 7 Michoacán PRD 12.4% 2.4 3.9 3.1 8 Nayarit Antonio Echevarría García PAN 45.1% 0.7 1.0 1.4 9 Nuevo León Jaime Heliodoro Rodríguez Calderón Independiente 16.9% 7.5 4.1 3.4 10 Querétaro Francisco Domínguez Servién PAN 41.1% 2.3 1.6 0.6 11 San Luis Potosí López PRI 22.9% 2.1 2.3 3.3 12 Sinaloa PRI; PVEM 59.3% 2.2 2.5 3.0 13 Sonora Claudia Artemisa Pavlovich Arellano PRI 34.0% 3.3 2.4 9.6 14 Tlaxcala Marco Antonio Mena Rodríguez PRI 28.1% 0.6 1.0 0.2 15 Zacatecas Alejandro Tello Cristerna PRI 32.6% 0.9 1.3 3.9 Source: Banorte with data from local and state governments, Consulta Mitofsky (October 2019) and INEGI 1.Will renew local congresses: Aguascalientes, Durango and Hidalgo; Will renew county governments: Coahuila, Quintana Roo and Tamaulipas; Renew both: , Chiapas, State of Mexico, Guanajuato, Jalisco, Morelos, Oaxaca, Puebla, Tabasco, Veracruz and Yucatán

14 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App About Banorte

15 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App GFNORTE – a Leading and Profitable Financial Franchise in Mexico

1 2 3

Adequate business mix Sound Fundamentals Solid corporate governance Strong retail, wholesale and premium banking Independent Board Members represent platforms, as well as leading insurance and Increasing profitability, solid asset quality, high 71% of total board composition and best pension fund management units, serving more liquidity and strong capitalization ratios. practices in minority shareholder right than 21 million clients. protection.

One of the most public companies in Mexico GFNorte is top 5 in trading at BMV, and has the highest Relative Weighting on S&P/BMV IPC Index, rated OTCQX Best 50 Global

Market capitalization of US 16 billion, float of almost 86% and more than 4,000 investors, including large global institutional funds.

Investment grade ratings by S&P, Fitch, Moody's and HR Ratings.

16 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App From Regional Bank to Second Largest National Financial Group

20 | 20 Client Segmentation Business Diversification IT : central DB, multichannel Inorganic Growth Profitability Regional Bank 1899 … 1982-1992 1995 2000 2005 2010 2015 2020

 Banorte  INB  IXE   Afore XXI G.F. Interacciones Afin  Bancentro Generali 50%  Afore Bancomer Banpaís IMSS 50%  Bancrecer  Banorte-General Rappi

Privatization i100% J.V.

Establishment Nationalization

17 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Strategy 20 | 20 Perfect Vision

PRODUCTS & DISTRIBUTION SOLUTIONS CHANNELS

Deposits & Loans Mobile Revenues Insurances Client Segmentation Internet

Pension ▪ 12 million ex-Afore clients ATM 9 million Afore clients Digital Annuities ▪ Structured Info & Learning Contact Center Bank (Central DB & Watson) Wealth Mngt. Branches ▪ Behavior understanding Analitics Cost … …

PROCESSES

Account opening - Credit Analisis Next Best Offer – Next Best 20/20Action 18 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Diversified Business Mix

Banco Casa de Operadora Banorte Arrendadora Mercantil Bolsa de Fondos Ahorro y y Factor Other del Norte Banorte Banorte Previsión Banorte** Subsidiaries*

98.2618% 99.9999% 99.9999% 99.9999% 99.9058%

Banorte Financial (Fondos de Seguros Pensiones Services Inversión) Banorte Banorte

(Uniteller) 100% 99.9999% 99.9999% 100.0%

Banorte Futuro

98.22%

Afore XXI Banorte 50.0%

* Includes: Almacenadora Banorte; Ixe Servicios; Fundación Banorte A.B.P. ** Solida merges Arrendadora y Factor Banorte on July 1st, 2020

19 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Business Mix - Diversified Net Income and Balance in Profitability

Net Income Mix

2020 $30.5 b

Million pesos 4Q20 q/q y/y 2020 y/y ROE 2020 Bank 3,833 (41%) (43%) 20,029 (26%) 16.6% 20.6%* Broker Dealer & 356 (0%) (6%) 1,492 18% 27.6% Mutual Funds Insurance 471 (37%) (37%) 3,846 (2%) 42.4% Annuities 503 48% 85% 1,551 51% 27.7% Afore 475 5% 32% 1,873 16% 15.6% BAP (Holding) 9 15% 452% 39 N.A. Other Finance Co. 88 (64%) (49%) 641 (18%) GFNorte 5,966 (33%) (34%) 30,508 (16%) 14.8% 17.1%*

* Excluding the effect of additional provisions in 2Q20 AND 4Q20 ** Afore ROTE 49.4%

20 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Net Interest Margin Moving in the Right Direction NIM

6.0% 5.9% 5.9% 5.5% 5.6% 5.6% 5.5% 5.3% 5.7% 5.6% 5.2% 5.0% 4.9% 5.0% 4.7% 5.1% 4.5% 4.4% 4.8% 4.5% 4.1% 4.1% 4.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4Q19 1Q20 2Q20 3Q20 4Q20

NIM NIM ex Insurance & Annuities

4.9bn on 2.4bn on NIM advanced advanced (Post-Provision) provisions provisions 5.0% 4.5% 4.6% 4.3% 4.4% 4.4% 4.4% 4.3% 4.5% *Recurring 3.9% 4.0% 3.7% 3.5% 3.5% 3.3% 3.4% 3.4% 3.9% 3.3% 3.5% 3.1% 3.0%

2.5% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4Q19 1Q20 2Q20 3Q20 4Q20

21 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Fees on Services Affected But Recovering Fees +19% 6.8 Fees recovering due to better economic activity 6.1 5.9 5.7 6.0 5.4 Fees charged +19% q/q: 5.0 Core banking fees +11% q/q 4.0

Electronic banking services fees +28% q/q Pesos Billion 3.0 3.2 2.0 2.7 Remote digital transactions lead growth, 2.7 2.3 2.6 +40% q/q in POS, +19% in mobile. 1.0 - 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2019 2020 Fees Charged Fees Paid

Millions Millions +40% +19% Core Banking Fees q/q q/q 4,075

4,000 3,669 3,415 3,500 3,315

Million Pesos Million +11%

3,000 3,012 2,500 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2019 2020

22 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Improving Efficiency

Cost to Income 56.0% 54.0% 55% 52.0% 48.5% 47.9% Recurring 50% 40.0% 39.7% 46.6% 44.9% 42.8% 45% 41.7% 41.4% 40.6% 39.0% 39.1% 38.9% 38.8% 40%

35% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020 4Q19 1Q20 2Q20 3Q20 4Q20

-0% +9%* +19%*

+13% +10% +13% +5%

+11% +8% +7% +5% +4% +4% +7%

* Recurring

23 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Strong Net Income

Net Income Million Pesos

+1% CAGR +15% * Recurring YoY 2011-2020 Reported (16%) YoY Recurring (15%) 36,528 10,500 YoY 37,500 35,583 9,867 10,000 31,958 9,500 9,118 32,500 35,345 9,010 8,906 9,000 (14%) 30,508 27,500 30,311 8,500 q/q 23,908 8,000 7,692 22,500 19,308 7,500 17,108 7,000 17,500 15,228 13,508 6,500 5,966 6,518 12,500 10,888 6,000 8,517 5,500 (34%) y/y 7,500 5,000 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020 4Q19 1Q20 2Q20 3Q20 4Q20

24 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Constant Positive Growth in Profitability

4.9bn on 2.4bn on ROA advanced advanced provisions provisions 2.5% 2.30% 2.28% 2.18% 2.21% 2.05% *Recurring 2.0% 1.86% 2.22% 2.25% 2.07% 1.72% 1.60% 1.99% 1.40% 1.46% 1.47% *Recurring 1.76% 1.5% 1.30% 1.10% 1.49% 1.33% 1.0% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 4Q19 1Q20 2Q20 3Q20 4Q20

ROE

22% 20.3% 20.1% 19.0% 18.8% 19% 17.0% 17.1% 16.9% 19.3% 19.6% 19.6% *Recurring 16% 14.1% 14.3% 14.2% 14.1% *Recurring 13.2% 13.3% 13.9% 14.8% 13% 10.9% 13.0% 10% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 4Q19 1Q20 2Q20 3Q20 4Q20

25 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Digital Transformation

26 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Fast Moving to Self-service with Quality

NPS 4Q

69 67

service - WEB and Transaction Change Self ATM Mobile Dec vs Feb 1 Account statement 522% 2 Check deposit 1,108% 3 Mobile bill payment 99% 4 Transfers 110% 5 Credit card mobile payment 65% 6 Credit/debit card mobile dispute 52%

Branch 7 Temporary credit card lock/unlock 94% Contact Served by staff by Served Center 8 Credit card mobile activation 38% 9 Account and transaction balance 89% Physical Remote 10 Mobile top-up 63%

27 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Digital Transformation Gaining Share

Transactions (Tx) Transactions +43% y/y 4Q20 332.2 4Q19 Branches 350 3.5% WEB 300 14% 232.1 250 POS 26% 200 150 94.2 Correspondents 1% 36% Mobile 100 Call Center 1% 50 18% 0 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q ATM 2017 2018 2019 2020

Customers Using Digital Digital Deposit Account (millions)

4.7 Mobile Credit Card 4.5 4.3 4.3 as a 4.1 4.2 Payroll loans 3.9 Point of Sale Time Deposits 3.5 Mutual Funds Insurance 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q

28 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App * Leaders in the Business & Infrastructure for the New Payments Market

Beyond recovery on POS’s transactions pre The best DIGITAL PLATFORM COVID-19 with emphasis on e-commerce for aggregators

+40%

q/q Millions

CoDi – Test Pilot and further development underway

29 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Loans & Deposits

30 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Healthy Funding & Loan Portfolio Structure 2018 4Q20

Bank Deposits $759 bn $843 bn US 42.4 bn Senior Unsec. Debt Senior Unsec. Debt Money Market Money Market

Time Demand Time Demand

Loan Portfolio $777 bn $802 bn US 40.3 bn

Consumer Consumer Government Government

Mortgage Mortgage Commercial Commercial

Corporate Corporate

31 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Loyal Deposits Base

Billion Pesos CAGR: Deposits +10%

751 706 729 751 YoY 667 681 +13% 700 Time Demand Core Deposits 637 590 551 600 533 533 509 509 YoY +12% 482 500 436 438 454 +22% 414 384 384 397 400 336 351 306 300 300 255 223 229 217 227 224 220 217 YoY 211 194 190 168 (5%) 200 158 +7% 116 124 129 136 100 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20

MIX 4Q19 4Q20 Time Time 29% 38% Demand 438 22% 533

Demand Time 229 (5%) 217 Demand 62% 71% TOTAL 667 13% 751 2013 4Q20

32 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Continued Growth in Performing Loan Book, Special Focus on Consumer

US 40.3 bn US 15.3 bn Total Loan Portfolio Consumer Portfolio 802 798 802 304 301 304 777 780 792 288 291 293 800 763 300 269 241 700 250 616 203 567 176 600 518 200 158 472 CAGR: 140 CAGR: 500 425 150 118 401 +10% 99 +13% 400 350 100

300 50 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q 2Q 3Q 4Q 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q 2Q 3Q 4Q

Billion Pesos 4Q19 3Q20 4Q20 QoQ YoY Mortgage 170 183 188 3% 10% Car Loans 27 27 28 3% 6% Credit Cards 40 39 37 (5%) (8%) Payroll 51 52 52 (1%) 1% Consumer 288 301 304 1% 6% Commercial 173 188 193 2% 12% Corporate 128 147 143 (2%) 12% Government 174 163 162 (1%) (7%) TOTAL 763 798 802 0.5% 5%

33 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Sound Asset Quality

NPL Ratio 3.5% 3.1% 2.9% Anticipated Write-offs reducing NPL

2.5% 2.2% 1.9% 2.1% 2.0% ↓4.6 bn ↓0.8 bn 1.8% 1.7% 1.7% 1.7%

1.5% 1.1% 1.2% 1.1% 0.8%

0.5% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Credit Cards 5.5% 5.9% 5.9% 6.0% 5.4% 5.8% 5.5% 3.1% 7.8% Payroll 3.7% 3.0% 3.8% 3.4% 3.3% 2.7% 3.3% 1.7% 2.7% Car Loans 1.1% 0.9% 1.0% 1.0% 1.0% 0.9% 1.2% 0.7% 0.6% Mortgage 0.9% 1.0% 1.0% 1.1% 1.1% 1.2% 1.3% 1.0% 0.9% Commercial 1.9% 2.1% 2.4% 2.5% 2.4% 2.3% 1.1% 0.9% 1.2% SME 5.5% 5.9% 6.4% 6.5% 6.6% 7.0% 3.7% 1.9% 2.0% Commercial ex-SME 0.9% 1.1% 1.3% 1.6% 1.3% 1.2% 0.6% 0.7% 1.0% Corporate 2.9% 2.9% 3.0% 2.8% 1.8% 1.8% 0.3% 0.3% 0.1% Government 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.2% 0.0% Total GFNorte 1.7% 1.7% 1.9% 1.9% 1.7% 1.7% 1.2% 0.8% 1.1%

34 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Sound Asset Quality

Coverage Ratio 265% 270%

240% 224% 224% 201% 210%

180% 143% 138% 139% 142% 138% 140% 150% 129% 107% 116% 120% 105%

90% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20

Cost of Risk 4.2% 4.5% 4.0% Current Prev. Criteria Recurring 3.5% 3.0% 2.8% 3.0% 2.3% 2.2% 2.5% 2.0% 2.0% 1.6% 1.5% 2.2% 1.8% 1.8% 1.8% 1.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20

* Cost of Risk: Provisions / Average Total loans (Performing + Past Due), On current criteria all the recoveries are register on Provisions (net)

35 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Strong Capital Position

Capital Adequacy Ratio Basel III 21.1% 20.3% 20.2% 20.0% 19.7% Dividends already 19.0% 18.1% 18.6% 1.0% Tier 2 in GFNorte’s 17.2% 17.2% balance sheet

15.1% 15.3% 15.3% 5.3% 14.6% Total Tier 1 19.2%

11.40% 9.40% 9.70% 13.8% 13.7% 13.9% CET1 12.7% 12.7% 13.1% 13.3% 12.7% 13.2% 7.70% 11.5% 12.4% 12.1% 11.9% 12.2% 7.90% 6.20% Temporary waiver

2013 2014 2015 2016 2017 2018 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Minimum Regulatory RWA +17% +11% +8% +16% (2%) +19% +20% +19% +5% +7% +9% +15% +17% +17% Ratios

*RWA= Risk Weighted Assets annual growth

36 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App BAP: Long Term Savings Business

Million Pesos

4Q20 2020 YoY 4Q20 2020 YoY Considering Banorte Futuro Insurance Net Income 452 3,775 (3%) 946 5,719 3% Equity 10,357 10,357 56% 28,325 28,325 25% Assets 47,456 47,456 25% 65,038 65,038 21% Premiums 5,104 26,911 1% 5,104 26,911 1% ROE 17.8% 42.4% (8.4) pp 13.8% 22.4% (1.6) pp

AFORE Net Income 968 3,814 16% Equity 25,551 25,551 0% Assets 28,049 28,049 1% AUM 1,016,188 1,016,188 15% ROE 15.4% 15.6% 2.1 pp ROTE 46.7% 49.4%

Annuities Net Income 503 1,551 51% Equity 6,448 6,448 32% Assets 167,078 167,078 23% Premiums 4,615 14,334 25% ROE 32.4% 27.7% 4.1 pp

37 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App 2021 Guidance

Guidance Loan Growth 6% – 8% NIM Contraction (15) – (30bps) Expense Growth 3.5% – 4.2% Efficiency 39.5% – 41.0% Cost of Risk 2.1% – 2.3% Tax Rate 26% – 27% Net Income 33.5 – 35.0 ROE 15% – 16% Bank ROE 18% - 19%

Macro Estimates for 2021 GDP 3% - 4% Inflation 4.0% Reference Rate 4.00%

38 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Market Presence

39 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Deposit & Loan Market Share

Dec 2020

Deposits Loans

2° 3°

Source: CNBV.

40 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Market Share by Segment

Consumer C. Cards Mortgage Commercial Government Deposits Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20

Banorte 12.0% 13.4% 9.8% 10.2% 19.2% 19.5% 10.3% 11.9% 30.5% 28.3% 13.5% 13.6%

BBVA 29.4% 29.6% 27.7% 29.3% 25.9% 25.8% 19.3% 19.2% 25.7% 29.3% 23.2% 22.6%

CitiBanamex 13.4% 11.9% 26.7% 25.0% 9.6% 7.9% 11.8% 10.1% 6.0% 6.4% 14.6% 15.4%

Santander 8.7% 9.8% 14.0% 13.8% 16.5% 17.2% 13.2% 12.4% 12.6% 13.3% 13.4% 13.0%

HSBC 6.5% 6.4% 5.6% 5.7% 7.1% 8.0% 8.1% 7.1% 7.0% 5.6% 8.0% 7.7%

ScotiaBank 5.2% 5.0% 2.8% 2.6% 15.1% 15.2% 7.6% 7.7% 2.5% 1.6% 6.5% 6.3%

Inbursa 4.2% 3.2% 4.1% 3.9% 0.6% 0.5% 0.0% 0.0% 4.9% 2.3% 2.9% 3.0%

Others 20.6% 20.7% 9.2% 9.5% 6.0% 5.9% 29.8% 31.6% 10.8% 13.1% 17.9% 18.3%

Market Position 2° 4° 2° 3° 2° 3°

Source: CNBV.

41 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Market Share by Segment

LoanLoan Book Book Market Market Share Share Corporate & Commercial Mortgage market share 15.1%15.1% market share 11.8% 19.5% 19.5% 14.9%14.9% 19.2% 11.0% 18.7% 14.1%14.1% 10.4% 10.3% 13.1%13.1% 13.0%13.0% 9.4% 17.2% +28bp +108bp +146bp

2016 2017 2018 2019 2020 20162016 20172017 20182018 20192019 20202020 2016 2017 2018 2019 2020

Credit Card market share Auto Loans market share Payroll Loans market share

19.3% 21.1% 20.9% 10.2% 17.9% 20.5% 9.8% 17.6% 9.5% 9.3% 16.3% +140bp 19.5% 8.4% +42bp 14.9% 19.2% +133bp

2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

42 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Afore Market Share (Retirement Savings)

Assets Under Management Billion Pesos

AUM Market Share Dec-19 Dec-20 Dec-19 Dec-20 XXI Banorte 882 1,016 22.1% 21.5% 1°

CitiBanamex 724 813 18.1% 17.2%

Profuturo GNP 600 736 15.0% 15.6%

SURA 590 696 14.8% 14.7%

Coppel 253 329 6.3% 7.0%

Principal 259 293 6.5% 6.2%

PensionISSSTE 258 312 6.4% 6.6%

Invercap 188 217 4.7% 4.6%

Other 242 310 6.1% 6.6%

Source: CONSAR

43 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Insurance Market Share

Million Pesos

Premiums Market Share Net Income Market Share Sep-19 Sep-20 Sep-19 Sep-20 Sep-19 Sep-20 Sep-19 Sep-20 G.N.P. 48,939 52,593 11.8% 12.7% 3,425 3,392 9.8% 9.0% Metlife México 43,260 44,052 10.4% 10.7% 4,270 5,325 12.2% 14.2% BBVA Bancomer 35,910 34,419 8.7% 8.3% 4,222 4,120 12.1% 11.0% AXA Seguros 29,260 30,360 7.1% 7.4% 1,745 3,457 5.0% 9.2% Banamex 29,358 23,812 7.1% 5.8% 2,355 1,690 6.7% 4.5% Monterrey New York Life 21,242 23,554 5.1% 5.7% 1,958 1,870 5.6% 5.0% Qualitas 23,875 23,254 5.8% 5.6% 3,660 5,217 10.5% 13.9% 8° 6° Seguros Banorte 21,166 21,807 5.1% 5.3% 3,139 3,323 9.0% 8.8% Inbursa 14,610 15,037 3.5% 3.6% 2,111 1,123 6.0% 3.0% Mapfre Crédito 23,456 14,273 5.7% 3.5% 232 299 0.7% 0.8% Other 123,609 129,876 29.8% 31.4% 7,875 7,741 22.5% 20.6% TOTAL 414,684 413,038 100.0% 100.0% 34,990 37,558 100.0% 100.0%

Source: AMIS.

44 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Annuities Market Share Million Pesos

RESOLUTIONS * Market Share Dec-19 Dec-20 Dec-19 eic-20

Banorte 11,172 14,025 42.3% 49.3% 1° Profuturo GNP 9,099 8,004 34.5% 28.1% Bancomer 6,104 6,424 23.1% 22.6%

Total Industry 26,383 28,454 100.0% 100.0%

ANNUITANTS Market Share Dec-19 Dec-20 Dec-19 Dec-20 Banorte 10,355 11,576 39.9% 48.6% 1° Profuturo GNP 7,990 5,456 30.8% 22.9% Bancomer 7,623 6,809 29.3% 28.6%

Total Industry 25,982 23,841 100.0% 100.0%

*\ Legal document for any pensioners entitled to receive a pension. Source: AMIS to December 2020.

45 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App GFNorte in the World

Market Capitalization Million pesos

4Q20 US 15.9 bn Total Shares Outstanding: 2,883.5 m

Float: ~ 86% 400,000 Total ADRs(1) Outstanding: 8.64 m

350,000 316,978 302,763 Ticket Indexes 300,000 IPC (BMV) Sustainable IPC (BMV) GFNORTEO (BMV) 276,177 MSCI Mexico 250,000 STOXX Oil and DJSI MILA COVID-19 220,930 Climate Disclosure Leadership 200,000 GBOOY (OTCQX) crisis OTCQX30 Euronext Vigeo EM70 187,425 150,000 FTSE Latibex All Shares XNOR (Latibex)

FTSE Latibex TOP

2Q19 4Q13 4Q15 2Q16 4Q16 2Q17 4Q17 2Q18 4Q18 4Q19 2Q20 4Q20 (1) Level 1

46 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Analyst Opinion & Investment Grade by All Major Rating Agencies

Analysts‘ Estimates Ratings Agencies (as of January 20, 2021) Agency Rating Outlook Date Net Income 2020 $31,778 2021 $34,943 Standard & Poor’s BBB Negative Mar-20 Target Price $112.7

Maximum $137.0

Number of Analysts 21 Fitch BBB- Negative Jul-20

# BUY 17

# HOLD 3 Moody’s Baa3 Negative Abr-20

# SELL 1

47 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Sustainability Strategy

48 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App ESG Updates MSCI ESG Ratings Action: Upgraded to AA from 'A’

Environmental Social Governance

• “Bóscares” Award (urban forests) • Top-10 Great Place to Work (diversity & inclusion) • CDP climate change questionnaire: by Reforestamos México • New diversity strategy in talent- attraction and 2020: A- (2019: B) • Sustainable mobility initiative in retention (HR) • Dow Jones Sustainability Index MILA Mexico City and Monterrey • Launch – Sustainable Supply Chain Program for Pacific Alliance (member since 2017) • Adherence to the Alliance for 215 Mexican companies • Launch of “Our Journey” newsletter Climate Action of Mexico City • Continued involvement and active participation • Sustainability Committee: Results 2020 (ACA-CDMX) in the National Financial Education Week

Sustainable Finance

• Banorte Mutual Funds: PRI signatory • Inclusion of nature-related risks in the risk-management system – WWF • UNDP SDGs impact report - Family Remittances • Involvement in the TEEB Agrifood program - Capital Coalition Global Initiative

49 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Sustainable Finance

Sustainable finance loan book evaluation Responsible investments - Mutual funds % of wholesale banking loan book %, share of total analyzed AUM 15.0 13.2 100 12.8 1.0 80 95.7 94.4 12.5 0.2 12.0 89.7 90 0.4 1.5 0.3 60 9.8 0.3 10.0 0.8 40 0.8 20 7.5 0.55 0.66 0.25 0.25 0 3Q19 4Q19 3Q20 4Q20 3Q19 4Q19 3Q20 4Q20

Other Sustainable loan book Climate-related loan book Analyzed portfolio Sustainable portfolio

Loan book evaluation under Equator Principles Number of analyzed projects

10 9 8 6 5 4 4 1 2 1 0 3Q19 4Q19 3Q20 4Q20

Low impact Medium impact High impact

50 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Financial Education Program results 2020 vs. 2019

51 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Appendix

52 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Quarterly Summary

Income Statement Highlights - GFNorte Change Change 4Q19 3Q20 4Q20 2019 2020 (Million Pesos) 3Q20 4Q19 2019 Interest Income 37,667 33,341 30,676 (8%) (19%) 150,514 133,593 (11%) Interest Expense 15,174 10,430 9,638 (8%) (36%) 68,693 47,898 (30%) Technical Results (Insurance & Annuities) (2,305) (2,310) (1,458) 37% 37% (1,244) (2,863) (130%) Net Interest Income 20,188 20,601 19,580 (5%) (3%) 80,577 82,832 3% Net Service Fees 4,230 3,096 3,599 16% (15%) 14,011 13,219 (6%) Trading 872 1,128 858 (24%) (2%) 5,289 4,854 (8%) Other Operating Income (Expenses) 746 656 859 31% 15% 4,264 2,983 (30%) Non Interest Income 5,847 4,880 5,315 9% (9%) 23,564 21,056 (11%) Total Income 26,035 25,481 24,896 (2%) (4%) 104,141 103,888 (0%) Non Interest Expense 10,572 10,627 11,612 9% 10% 40,678 43,013 6% Provisions 3,765 3,138 5,993 91% 59% 15,347 21,931 43% Operating Income 11,698 11,717 7,290 (38%) (38%) 48,116 38,944 (19%) Taxes 2,951 3,178 1,757 (45%) (40%) 12,795 10,049 (21%) Subsidiaries' Net Income 389 492 509 4% 31% 1,716 2,002 17% Minority Interest (125) (124) (77) 38% 39% (509) (389) 23% Subsidiaries & Minority Interest 263 368 433 18% 64% 1,208 1,613 34% Net Income 9,010 8,906 5,966 (33%) (34%) 36,528 30,508 (16%) Recurring N.I. w/o anticipated Provisions 2Q20 9,010 8,906 7,692 (14%) (15%) 35,345 35,583 1% and 4Q20

53 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Quarterly Summary

Financial Ratios GFNorte 4Q19 3Q20 4Q20 2019 2020 NIM (1) 5.7% 5.1% 4.8% 5.62% 5.30% ROE (2) 19.0% 16.9% 10.9% 20.1% 14.8% ROA (3) 2.3% 2.0% 1.3% 2.3% 1.8% Efficiency Ratio (4) 40.6% 41.7% 46.6% 39.1% 41.4% Operating Efficiency Ratio (5) 2.7% 2.4% 2.6% 2.6% 2.5% CCL Banorte and SOFOM - Basel III (6) 133.5% 193.6% 192.5% 133.5% 0.0% Past Due Loan Ratio 1.7% 0.8% 1.1% 1.7% 1.1% Coverage Ratio 137.7% 265.2% 224.0% 137.7% 224.0% Cost of Risk (7) 1.98% 1.56% 2.97% 1.98% 2.75% Banxico Reference Rate 7.25% 4.25% 4.25% 7.25% 4.25% TIIE 28 days (Average) 7.86% 4.99% 4.51% 8.32% 5.73% Exchange Rate Peso/Dolar 18.86 22.14 19.91 19.30 22.16 Tax Rate 24.4% 26.0% 22.5% 25.7% 24.5% Balance Sheet Highlights - GFNorte Change 4Q19 3Q20 4Q20 (Million Pesos) 3Q20 4Q19 Asset Under Management 2,771,604 2,981,568 2,975,753 (0%) 7% Performing Loans (a) 762,642 798,478 802,138 0% 5% Past Due Loans (b) 12,806 6,660 8,931 34% (30%) Total Loans (a+b) 775,448 805,138 811,070 1% 5% Total Loans Net (d) 757,809 787,473 791,066 0% 4% Acquired Collection Rights ( e) 1,601 1,341 1,617 21% 1% Total Credit Portfolio (d+e) 759,410 788,814 792,682 0% 4% Total Assets 1,580,010 1,795,306 1,787,904 (0%) 13% Total Deposits 724,490 813,104 821,712 1% 13% Total Liabilities 1,384,012 1,577,935 1,562,801 (1%) 13% Equity 195,998 217,371 225,103 4% 15% Total Performing Loans ex-Government 588,654 635,869 640,576 1% 9%

54 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Quarterly Summary

Change Change Share Data 4Q19 3Q20 4Q20 2019 2020 3Q20 4Q19 2019 Earnings per share (Pesos) 3.125 3.089 2.069 (33%) (34%) 12.668 10.580 (16%) Earnings per share Basic (Pesos) 3.138 3.132 2.097 (33%) (33%) 12.747 10.699 (16%) Dividend per Share for the period (Pesos) 0.00 0.00 0.00 - - 5.54 0.00 - Payout for the period 0.0% 0.0% - - - 50.0% - -. Book Value per Share (Pesos) 67.18 74.44 77.07 4% 15% 67.18 77.07 15%

Issued, Subscribed and Paid Shares (Million) 2,883.5 2,883.5 2,883.5 0% 0% 2,883.5 2,883.5 0%

Stock Price (Pesos) 105.00 76.62 109.93 43% 5% 105.00 109.93 5% P/BV (Times) 1.56 1.03 1.43 39% (9%) 1.56 1.43 (9%) Market Capitalization (Million Dollars) 16,050 9,977 15,922 60% (1%) 16,050 15,922 (1%) Market Capitalization (Million Pesos) 302,763 220,930 316,978 43% 5% 302,763 316,978 5% Exchange Rate Peso/Dolar 18.86420 22.14380 19.90870 -10% 6% 19.29632 22.15663 15%

INFRASTRUCTURE 4Q19 3Q20 4Q20

Employees 30,162 30,162 29,916 Branches 1,182 1,182 1,193 Correspondents 14,182 16,395 16,984 ATM’s 8,919 9,089 9,387 POS’s 166,505 159,369 159,780

55 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Healthy Liquidity

Loans / Deposits Liquidity Coverage Ratio (%) CCL (%) 110% 210% 193% 108% 194% 105% 190% 106%

104% 170%

102% 150% 133% 100% 98% 130% 98% 98% 107% 96% 110% 94% 90% 92%

90% 70% 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 4Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 4Q 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020

56 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Improving Corporate Governance

GFNorte Mexbol Index (Average)*

Float 86% 45%

Listed overseas Yes 46% of the companies

Chairman of the Board-CEO separation Yes In 73% of the companies

Share of independent board members, % 71.0 49.7 Share of total assets threshold to require shareholders Current Before Aug'16 19.7 approval in M&A operations, % Non-related 20 20 - - Related 5 20 - - Board members nominations committee Existence Yes 13.5% of the companies Final approval of nominated board members Shareholders Shareholders Current Before Aug'16 Share of independent board members in this committee, % 18.8 57.1 25

All members of the BOD are elected every year by the Shareholders’ Assembly. - Risk Policies Main Committees are chaired by independent members. - Nominations - Audit & Corporate Practices Assembly quorum has always been higher than 60% and consensus has always been reached on proposals.

57 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Corporate Responsibility and Sustainability

Global Initiative Report (GRI Standards) UNEP Finance Initiative International standards on sustainability reporting and disclosure of economic, Initiative that aims to identify, promote and carry out the adoption of best environmental and socialtopics. environmental and sustainabilitypractices at all levels of operations of financialinstitutions. UN Global Compact International initiative promoting 10 universally accepted Principles to Dow Jones Sustainability Index MILA promote Corporate Social Responsibility(CSR). In 2017 was included in the Dow Jones Sustainability Index MILA Pacific Alliance. Carbon Disclosure Project (CDP) Organization that promotes awareness on climate change through a better Asociación de Bancos de México (ABM) Participation in the quality and transparency of the information reported on the company's Sustainability Committee and the Corporate Social Responsibility emissionsperformance. Committee, and signatories as the ABM Banking Sustainabilityprotocol. IPC Sustentable STOXX ESG Leaders Index Mexican index of 30 listed companies ,which are best positioned in relation Index that represents the main global companies in terms of to the pillars of Environment, Socialand CorporateGovernance. environmental, social and governance criteria, based on ESG indicators provided by Sustainalytics. Empresa Socialmente Responsable (ESR) Recognition granted by the Mexican Center for Philanthropy (Cemefi) and AliaRSE, as Euronext Vigeo Emerging Markets 70 Recognizes the 70 companies a company committed with corporate social Responsibility. from emerging countries with the most advanced practices in terms of Natural Capital Declaration sustainability. Voluntary financial sector initiative created at the Rio +20 Earth Summit, which recognizes the role of natural resources in the economy through FTSE4Good Emerging Index its integration into financial products and services. Index that evaluates actions in the themes of climate change, labor standards and risk management, among others. Equator Principles Standard within the financial sector to determine, assessand manage the Bloomberg Gender Equity Index environmental and social risks of financed projects. Index that provides analysis of the commitment of 52 companies with the gender equity in the workplaceto investors and organizations. GEI2 Programme Mexico Principles for Responsible Investment Initiative that promotes its Voluntary reporting of greenhouse gas emissions signatories to integrate environmental, social and governmental (ESG) criteria into their investment and ownership decisions.

58 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App Contact Information and Reports

If you have any information request or comments, please contact Banorte's Investor Relations Department at: Tel: (52) 55 1670 2276 E-mail: [email protected]

We recently published the Q20 report.

During 2020 we have released: 1. Annual Report to the Banking and Securities Commission (CNBV) 2. Annual Report to the Stock Exchange (Informe Anual Circular Única de Emisoras) 3. Audited Financial Statements for 2019 4. Annual Financial and CSR Report for 2019 under the GRI methodology (PDF & Interactive)

You can access our quarterly and annual reports (in Spanish and English) and other informative materials at : investors.banorte.com

Disclaimer Grupo Financiero Banorte does not warrant that the document is accurate, complete, reliable, fit for any particular purpose and does not accept liability for any act (or decision not to act) resulting from the use of this document and related data. The information contained in this document is illustrative and informative so it should not be considered as an advice and/or recommendation of any kind. Grupo Financiero Banorte is not part of any party or political trend.

59 Eco Hist DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt ESG App