Alpha Bank FY 2020 Results

Investor Presentation

March 23rd, 2021 Disclaimer

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Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this document reflect Alpha Bank’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Alpha Bank's financial position, operations, results of operations, growth, strategy and expectations. Any forward-looking statement speaks only as of the date on which it is made. New factors will emerge in the future, and it is not possible for Alpha Bank to predict which factors they will be. In addition, Alpha Bank cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward looking statements. Alpha Bank disclaims any obligation to update any forward-looking statements contained herein, except as required pursuant to applicable law.

2 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

3 2020 Highlights and 2021 Outlook

NPE . Alpha Bank entered into definitive agreements with Davidson Kempner over its €10.8bn Galaxy portfolio and the sale of an 80% stake in Cepal; expected to complete in Q2 2021 Deleveraging . Post Galaxy, Alpha Bank’s NPE and NPL ratio1 in Greece is reduced to 24% and 13% respectively

Business . In December 2020, the Bank entered into a long-term bancassurance partnership with Generali, which will be a key enabler for the acceleration of its bancassurance ambitions going forward Development . New disbursements in Greece of €5.6bn in 2020 (+60% vs. 2019), providing significant support to the economy

. Improved Core PPI performance at €859mn (+3.4% y-o-y) in 2020 . Strong trading income of €690mn in 2020 allowed for increased impairments to account for future NPE reduction initiatives 2020 Financial . Impairment losses of €1,306mn in 2020, impacted by additional impairments of €283mn to account for Covid-19 and of €320mn in Performance anticipation of new transactions in 2021 . Group NPE cash coverage pro-forma for Galaxy at 50% and Group NPL coverage at 85% in 2020 . Total Capital ratio at 18.4% in December 2020, or 16.9% pro forma for Galaxy and Tier II issuance of €500mn in March 2021

. NPE transactions of €3.3bn in 2021. NPL and NPE ratios1 in Greece to decrease to <10% and <18% respectively 2021 Outlook . Capital preservation with NPE transactions’ impact being fully absorbed and ending Total Capital ratio at 16.8%

1|including senior notes on the ratio basis. 4 Alpha Bank delivered strong financial performance in FY 2020; Asset quality significantly improved

Expansion of operating income Continued cost control Improvement in Core PPI Operating income, Euro mn Recurring operating expenses, Euro mn Core PPI, Euro mn

3.4% +12% -3.6% 831 859 2,591 1,080 2,321 1,042

2019 2020 2019 2020 2019 2020

Strengthening of capitalization levels NPE and NPE>90dpd ratios declined Cash Coverage strengthened Total Capital Ratio (%) Group % Group % 20pps +50bps -18pps 17.9% 18.4% 6pps 85% 45% -14pps 65% 30% 50% 26% 44% 16% 2019 1 2020

2019 2020 NPE ratio NPE>90dpd ratio NPE coverage NPE>90dpd coverage

1|pf for Galaxy, including senior notes on the ratio basis 5 Commercial Activity: Loan growth supported by deposits inflows with fee platform further strengthened Strong new disbursements despite macro headwinds Strong customer deposit inflows with a change in mix Greece, Euro bn Group, EUR bn Greece, EUR bn +2.1 +3.5 +3.6 5.6 o/w €5.3bn business 43.8 38.0 40.4 34.5 5.8 3% 4% State 3.5 Abroad 5.9 26% 35% Term 34.5 38.0 72% Core Greece 60%

2019 2020 Dec-19 Dec-20 Dec-19 Dec-20 Digital transformation accelerated shift to digital channels Exclusive bancassurance agreement with Generali until 2040

792,000 active 150 million ▪ On December 31, 2020, Generali acquired AXA Greek subsidiary, 92% of financial users in mobile logins in mobile becoming a #2 insurer in non-life and #3 player in health transactions banking banking insurance through digital +69% yoy in channels +45% yoy in ▪ Alpha Bank and Generali have renegotiated the exclusive 2020 2020 distribution agreement, that existed with AXA, by extending it Fee Income >145,000 until 2040 Generation Efficiency new users in wallets gains ▪ Such partnership entails certain future payments by Generali ~3.5 million to Alpha Bank, the amount of which will vary based on the transactions performance of the partnership in 2020

6 Swift execution of Galaxy during pandemic with clear timeline to closing

Feb 2021 April 2021 Q2 2021 By H2 2021 Sale of 80% of New CEPAL Distribution of  Carve-out of NPE Management unit onto CEPAL already Galaxy Hive-Down Galaxy Galaxy Notes to completed, with servicer currently fully operational Signing Completion1 Closing1 shareholders1

Davidson Alpha Bank Kempner 

20% 80%

New CEPAL Galaxy Securitisations 100% €10.8bn3 Senior notes Alpha . DK to acquire 51% of the €3.8bn 49%2 Bank . Long-term servicing agreement with New CEPAL, SPV I mezzanine and junior with a term of 13 years, for the management of our €1.9bn notes, while Alpha will Mezzanine initially retain a 49% stake. existing Retail and Wholesale NPEs in Greece of SPV II notes 44% of the notes are €8.9bn, as well as of any future flows of similar assets €5.7bn and early collections. New CEPAL will also manage intended to be subsequently the €10.8bn3 exposures under the Galaxy SPV IV Junior distributed to Securitisations and €4.6bn4 of exposures of third-party €3.2bn notes shareholders subject to 51% regulatory and corporate investors Davidson approvals HAPS guarantee Kempner

1| Subject to applicable corporate and regulatory approvals. 2| Alpha to initially hold 49% of the Mezzanine and Junior notes, with 44% to be distributed to shareholders subsequently; 5% to be retained as required by risk retention 7 rules. 3 | The amount of €10.8bn refers to the aggregate GBV as of the cut-off date of each respective SPV: 31.03.19 for SPVI, 30.06.19 for SPV II & IV. 4| Gross Book Value Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

8 Balance sheet clean-up continues unabated in 2021

NPE portfolio to decrease by a further 30% in 2021 Greece, Euro bn

NPE ratio (Greece)¹ 52% 24% <18% NPE . Since 2017, Alpha Bank <10% has delivered c.€16bn NPL ratio (Greece)¹ 34% 13% <10% of NPE reduction, or 2/3 of the starting stock -65% 25.0 16.2 . Continued focus on NPE and NPL reduction 4.3 in 2021, with stock down 8.4 (27%) NPE<90dpd by c.30% and 45% (34%) respectively, on the back 11.9 of execution credibility (73%) and HAPS support 8.8 . Strategic flexibility to 4.1 0.3 6.3 16.6 Average 5.9 upsize transactional NPE>90dpd (46%) -2.0 (66%) €5.4bn NPE -0.9 ambition on the back of reduction ~3.5 superior capital 4.7 p.a. position and (54%) continuously declining Dec-17 NPE Dec-20 pf Cosmos Orbit NPEs pf Other Dec-21E Dec-22E HAPS costs reduction Galaxy transactions organic movements

1| Basis for ratio includes senior notes of the securitization. 9 Strong capital position throughout 2021, comfortably covering OCR requirements and always remaining within stated management targets

Total Capital and CET1 ratios evolution Group, % transitional . Alpha Bank’s buffers well above RWAs €45bn €39bn ~ €37.5bn regulatory requirements and within management Total 19.0% Capital 18.4% targets -0.6% 1.3% 16.9% 0.7% 16.8% 0.3% -0.1% . Internal capital -0.8% -0.2% -2.8% 14.0% generation to counterbalance IFRS 9 phase in and transactions impact CET1 17.8% 17.3% 14.3% 14.1% . Total capital 9.2% impact from 2021 €500mn issued in NPE transactions March 2021 at c. 70bps, of which 85% Dec-20 2021 NPE Dec-20 Galaxy Tier II Dec-20 pf IFRS 9 RWA SME Organic 2021 NPE Dec-21E 2021 OCR frontloaded in Q4 20 excl. transactions impact phase in increase1 synthetic capital transactions pre relief transactions front- securiti- generation2 impact4 measures3 frontloading loading sation impact impact 4

1| Excluding positive impact from 2021 NPE transactions. 2| Driven mainly by PBT and excluding NPE transactions cost. 3| OCR to remain at 11% until 2022, excluding CCB and OS-II buffers. 4| Transactions include Cosmos, Orbit 10 and Sky. €3.3bn NPE transactions to be launched in H1 21 - €2.0bn securitisation in Greece to apply for HAPS 2

Cosmos Orbit Sky

NPE GBV EUR 2.0bn EUR 0.9bn EUR 0.4bn

Greek NPE securitisation Description Greek NPE portfolio sale Cyprus NPE portfolio sale under HAPS

Expected agreement H2 2021 H2 2021 H2 2021

22% Portfolio 23% breakdown 6% 45% 5% 3% 48% 91%

50% 7%

11 2021 inflows, primarily driven by moratoria, are expected to be partially counterbalanced by curings and other management actions

Negative gross formation in Greece PE Moratoria – mitigating actions Greece, EUR bn Greece, EUR bn

Net Organic (0.6) (1.2) (0.5) 0.3 Formation o/w c.€1.0bn Re-performance from moratoria 63% Inflows 2.6 2.2 1.6 1.7 At risk 18% €5.5bn -1.4 -2.2 Outflows -3.3 -3.4 Step-up 10% Gefyra 10% 2018 2019 2020 2021

Stage 2 classification as a percentage of PE moratoria PE Moratoria – segmental breakdown & performance Greece, EUR bn Greece, EUR bn

87% lifetime ECL Performing1 5.5 Moratoria calculation has 67% as of end Consumer 0.5 Expiration (PEs) been performed in 0.7 Feb- 21 2020 SBL 2.0 Within Q3’20 1.2 84% 32% Wholesale Within Q4’20 4.3 87% Mortgage 2.3 Total 5.5 86% Total Retail Wholesale PE Moratoria

Note: Bank level 12 1 | includes accounts less than 30 days past due. Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

13 FY 20 Financial Performance overview Core PPI up by 3.4% y-o-y… …supported by stable NII… …due to lower funding costs …resilient Fee Income.. EUR mn EUR mn bps EUR mn -1% 1,434 -0.4% 450 200 Loan 340 1,547 Spreads 399 395 397 335 +3.4% (116) 1,542 392 150 690 400 Time 100 831 859 Deposit350 +2% 35 28 rates2 20 16 50 -1% Average300 29 0 382 388 ECB Cost 11 85 84 250 -34 -50-50 Repo -40 -47 -50 200 -54 -100 FY 19 FY 20 Trading One- FY 20 Q3 20 Q4 20 FY 19 FY 20 rates Q1 20 Q2 20 Q3 20 Q4 20 Q3 20 Q4 20 FY 19 FY 20 Core Core gains1 off Reported PPI PPI costs4 PPI

…and lower recurring Opex Lower Staff costs Reduced G&As o/w 58 branches EUR mn EUR mn EUR mn in 2020 C/I 57% 55% Greece Dec-18 Dec-20 Δ -5% -5% 2 years -4% 1,081 459 477 Branches 443 336 -107 1,042 434 453 Employees3 7,793 6,316 -1,477 12 Cepal 6 Cepal 5 Cepal 428

FY 19 FY 205 FY 19 FY 20 FY 19 FY 20

1| Trading income in Q3 20 includes €14.3mn gain resulted from the valuation at fair value of Cepal. Q4 20 trading gain of €171mn from GGB swap and €42mn from the sale of investment in MasterCard. 2| Time deposits rates refer 14 to euro-denominated deposits. 3| Bank Greece 4 | FY 20 mainly include VSS Cyprus scheme, the carve-out expenses and impairments of real estate property. 5| Cepal’s consolidation impacted Recurring expenses by €12mn. FY 20 Group P&L and Balance Sheet

Profit & Loss FY FY yoy % Q4 Q3 qoq % Balance Sheet YoY 2020 2019 change 2020 2020 change 31/12/20 30/09/20 31/12/19 (EUR mn) (EUR bn) change

Net Interest Income (NII) 1,542 1,547 (0.4%) 388 382 1.6% Assets 70.1 68.6 63.5 6.6 Net fee and commission Income 335 340 (1.4%) 84 85 (1.2%) Securities 10.1 10.5 8.7 1.4 Trading Income1 690 410 … 430 43 … Cash & CB 7.5 5.1 2.0 5.4 Other Income 24 24 0.5% 5 7 (29.1%) Net Loans 39.4 39.8 39.3 0.1 Operating Income 2,591 2,321 11.6% 907 516 75.6% Deposits 43.8 41.7 40.4 3.5 Recurring Operating Expenses2 (1,042) (1,080) (3.6%) (274) (264) 3.8% Tangible Equity 7.7 7.8 7.9 -0.3 Extraordinary costs3 (116) (94) … (96) (5) …

Total Operating Expenses (1,158) (1,175) (1.4%) (369) (269) 37.5% CET1 ratio 17.3% 17.2% 17.9% … Core Pre Provision Income 859 831 3.4% 203 210 (3.2%) Total Capital ratio 18.4% 18.3% 17.9% … Pre Provision Income (PPI) 1,434 1,147 25.0% 537 248 … NPE ratio 26%4 43% 45% … Impairment Losses on Loans (1,306) (995) 31.3% (569) (169) … 4 o/w Covid-19 related (283) - - (53) NPE Cash Coverage 50% 45% 44% … 4 Other Impairment Losses (13) 4 1 (2) NPL ratio 16% 30% 30% … Profit/ (Loss) before income tax 114 156 (27.0%) (31) 77 … NPL Cash Coverage 85%4 64% 65% … Income Tax (10) (51) 1 (33) Profit/ (Loss) after income tax 104 105 (1.4%) (30) 44 …

Net Interest Margin (NIM%) 2.3% 2.5% 2.2% 2.2% Cost to Income ratio 55% 57% 57% 56%

1| Trading income has been restated due to the effect from the reclassification of Visa shares from FVOCI to FVTPL. Q3 20 includes €14.3mn gain resulted from the valuation at fair value of Cepal. In Q4 20, €171mn relate to GGB swap and €42mn to the sale of 15 investment in MasterCard. 2| Cepal’s consolidation impacted Recurring expenses by €12mn. 3| FY 20 mainly include VSS Cyprus scheme, the carve-out expenses and impairments of real estate property. 4|pro-forma for Galaxy including senior notes on the basis. Total Capital ratio at 18.4% in Q4 20

Total Capital ratio quarterly evolution EUR bn 8.4 7.1 8.3 €2.0bn Buffer over 1 18.3% 27bps 12bps 18.4% 14.0% CAD 16.0% (10)bps (23)bps Tier 2

€3.7bn Buffer 17.3% 17.2% over 9.2% CET1 14.8% CET1

Total Capital ratio Q4 20 Decrease of RWAs New CRR Decrease of Total Capital ratio FL Total Sep-20 Result Quick fix FVOCI reserve Dec-20 Capital ratio Dec-20

Total Capital ratio – pf for Galaxy and recent Tier 2 GGBs portfolio Trading Income FY 2020 % EUR bn EUR mn 690 2.1% GGB pre-tax 18.4% 0.4 0.3 unrealised 65 Other 3 gains 1.3% 16.9% 5.3 Bond 4.8 171 swap 2.6 2.0 FVOCI -2.8% 467 Amortised FVTOCI 2.7 2.8 Cost GGBs -13 Total Galaxy impact Tier 2 issued Total Additional Sep-20 Dec-20 Bonds & Capital ratio in Mar-21 Capital ratio Capacity FY 2020 other FVTPL Dec-20 2 Dec-20 pf for AT1

1| 14% 2020 OCR pre relief measures or 11% post relief measures excluding CCB 2.5% and OS-II buffer 0.5%. 2| This includes Euro 500 million Tier 2 issued in February 2020 at 4.25%. 3| This includes €42mn from the sale of investment in Mastercard, €14.3mn 16 gain resulted from the valuation at fair value of Cepal in Q3. Group deposits inflow of €2.1bn in Q4 2020; Group LCR stands comfortably at 151% Deposits evolution ECB balances Group, EUR bn EUR bn +€3.5bn Y-o-Y +€2.1bn % over Q-o-Q Total 5% 6% 17% 17% 17% 1.3 43.8 Assets 41.7 0.9 40.4 (0.1) 11.9 11.9 11.9 5.8 ECB Collateral 5.9 Abroad 5.9 pledged 3.9 . Credit claims 3.1 . GGBs & T-bills 35.8 38.0 0.8 3.1 . Other bonds Greece Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 34.5 TLTRO LTRO Dec-19 Sep-20 Individuals Business Abroad Dec-20 Mix towards Core deposits Group LCR & LDR Greece, EUR bn %

170% 165% 151% 170% 160%

155%

38.0 150% 36.1 35.8 145% 35.0 140% 34.5 135% 3% 130% 118% 150% 125% 113% 6% 2% 2% 120% State 4% 115% 101% LCR 26% 110% 105% 30% 100% 86% 130% 32% 95% 32% 90%

Term 35% 85%

80%

75% 70% 110% 65% 60% LDR 55%

50%

45%

40% 72% 35% 90% 68% 30% 62% 66% 25% 97% 95% 96% 96% Core 60% 20% 15% 90% 10%

5% 70%

0%

-5%

-10%

-15% -20% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 50% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 17 Negative gross organic formation in Greece

Negative gross formation in Greece Gross formation (Organic) - Retail EUR bn EUR mn

(94) (63) (186) (124) Gross NPE (0.6) (1.2) (0.5) (0.4) (0.1) (0.0) (0.0) (339) formation (620) EUR bn (994) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 Entries 2.64 2.24

1.66 0.47 0.39 0.35 0.44 (0.48) (0.40) (0.47) Gross formation (Organic) - Wholesale (0.85) EUR mn (2.20) 80 50 Exits 34 35 (3.29) (3.43) (40) (192)

2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 (461) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20

Note: Gross formation including curings, repayments, liquidations and debt forgiveness 18 Cost of Risk for the core portfolio <100bps for FY 2020

Q4 20 Group impairment losses on loans Group NPE & NPL coverage pro forma Galaxy EUR mn % Q-o-Q 21pps o/w €320mn incorporating portfolio sale scenarios 569 307 5pps 85% 261 245 64% Sep-20 50% 169 45% Dec-20 pf Galaxy

Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 NPE NPE>90dpd coverage coverage FY 20 Impairment losses – Core/Non Core FY 20 Group impairment losses EUR mn EUR mn CoR (over net 2.5% 0.9% 1.7% 2.6% 0.7% 3.3% CoR loans) 2.5% 3.3% o/w Core €273mn (over net Non Core €10mn loans) 1,306 283 1,306 995 649 1,023 995 283 Covid-19 2.6% Underlying 606 374 Underlying CoR 1,023 CoR 389 FY 19 FY 20 FY 20 FY 20 Covid FY 20 1 FY 19 FY 20 Impairment Core Non Core Impairment Total on loans on loans Impairment (underlying) on loans

1| Non core defined as exposures sold or expected to be sold under securitization or portfolio sale transactions 19 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix 24 . ESG 26 . Asset Quality 34 . Capital 37 . Volumes 45 . P&L

20 Milder-than-expected economic contraction of 8.2%, on the back of the sizeable fiscal stimulus Real GDP declined on an annual basis in Q4, albeit …. on the back of the decline in private consumption and continued to recover on a quarterly read, … net exports … 10% 120 6%

5% 4.2% 0% 4.8% 0% 100 -6% -5% -12% contributions to GDP growth -10%

-18% -15% 80 I II III IV I II III IV I II III IV I II III IV Ι ΙΙ ΙΙΙ ΙV Ι ΙΙ ΙΙΙ ΙV Ι ΙΙ ΙΙΙ ΙV Ι ΙΙ ΙΙΙ ΙV 2021f 2022f 2017 2018 2019 2020 2017 2018 2019 2020 Real GDP - Greece (q-o-q) Real GDP - Greece (y-o-y) Investment Private Consumption Net Exports BoG forecasts (Dec. 2020) Real GDP - Euro area (y-o-y) Public Consumption Inventories* GDP Growth ESI - Greece (3m average, rhs) …fueled by the second wave of the pandemic and the lockdown since early November . Real GDP fell by 7.9% y-o-y in Q4 2020, while continued to recover by 2.7% on 30 90 a quarterly read for the second consecutive quarter (Q3 2020: 3.1% q-o-q).

0 60 . The contraction of the Greek economic activity in Q4 2020 on an annual basis -30 was fueled by the decline in net exports and private consumption, following the 30 -60 second wave of the pandemic and the lockdown since early November; public consumption and investment contributed positively to real GDP growth, by 1.4 -90 0 pps and 0.2 pps, respectively.

Community mobility, retail and recreation (**) Community mobility, transit stations (**) Weighted stringency index (***), rhs

Notes: *Including Statistical Discrepancies, **percentage change from baseline, ***weighted average according to the number of days 21 Sources: ELSTAT, Google community mobility reports, Oxford COVID-19 Government Response Tracker, European Commission , Bank of Greece, Alpha Bank ERD Calculations Credit growth supported businesses’ liquidity, especially those sectors that are heavily impacted from the pandemic and the lockdown Gross Value Added: Contribution by sector of economic Credit to domestic non-financial corporations increased activity in 2020 4% Storage and transportation* 35.1% Tourism** 14.8% Other 13.7% -2% Real estate activities 12.4% Shipping 11.3% Trade 11.1% Dec 2019 Dec 2020 -8% Total Credit 10.0% # Electricity, Gas and Water Supply 8.6% % annual change Manufacturing, Mining and Quarrying 8.1% -14% Information and communication 8.1% I II III IV I II III IV I II III IV I II III IV Agriculture 6.9% 2017 2018 2019 2020 Professional activities*** 6.8% Primary Secondary exc. Construction Construction Construction Tourism-Trade-Transport -0.1% Tertiary exc. Tourism-Trade-Transport -4% 6% 16% 26% 36% 46% 56% Speed of vaccination programmes as determinant of the tourism rebound in 2021 . The services (tertiary) sector, which accounts for the largest part of Gross 40% 12% 11.8% Value Added (GVA), posted the largest negative contribution (-7 pps) to the 10.3% GVA fall in Q4 2020. 30% 8%

20% 4.6% 4.5% 4% . The speed of the vaccination programmes – not only in Greece but also in 10% 3.5% 2.4% the countries of origin of inbound tourist flows, are expected to liberate the 1.7% 0.8% next tourist season from social distancing guidance and travel restrictions. 0% 0% United United Cyprus Greece Spain Italy Germany France Russia Kingdom States Share of people who received at least one dose of COVID-19 vaccine (****) Share of the inbound travel traffic of Greece by country of origin (2019), rhs

Notes: * other than shipping, ** incl. accomodation and food services activities, *** incl. scientific, technical, administrative and support activities, **** as of Mar 20, 2021, except for France as of Mar 17, 2021 and Spain, as of Mar 18, 2021, # Credit growth rates are 22 calculated taking into account reclassifications, loan write-offs and transfers, as well as exchange rate variations. Sources: Bank of Greece, Our World in Data (University of Oxford, Global Change Data Lab), ELSTAT, Alpha Bank ERD Calculations Job retention policies alleviated a hike in unemployment rate and moderated disposable income losses Labour market developments in the Covid world Current developments in disposable income, savings and consumption Netherlands Germany 15 200 Bulgaria Euro billion, current prices Austria Dec 2019 Dec 2020 Ireland 10 Belgium 160 Cyprus 5 EU-27 Portugal 0 France 120 Italy Spain -5 Greece -10 80 0 3 6 9 12 15 18 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2018 2019 2020 Unemployment Rate (%) 9m 9m 9m Gross savings Gross Disposable Income, rhs Private Consumption, rhs Upswing in private sector deposits during the pandemic . Unemployment rate in Greece declined by 0.6 pps between December 2019 bn € and December 2020. 44 2019 flow: 2019 flow: 135 EUR 6.7 bn EUR 1.9 bn . In the first 9 months of 2020, households’ disposable income exceeded private 34 consumption, leading to a rise in households’ gross savings (as % of disposable 125 income) by 2.3% on an annual basis vs. a 2.2% decline in the corresponding 24 period of 2019, returning to positive territory for the first time since 2011. 115 14 2020 flow: 2020 flow: . Deposit flows from the private sector to the banking system reached € 20.1 bn 4 EUR 9.6 bn EUR 10.5 bn 105 in 2020, significantly higher compared to 2019 (€ 8.6 bn), underpinned by the

government revenue-side interventions, the higher household forced and Jul-20

Jul-19 precautionary savings and the liquidity support to businesses.

Oct-19 Oct-20

Apr-20 Apr-19

Jan-19 Jun-19 Jan-20 Jun-20

Feb-19 Mar-19 Feb-20 Mar-20

Aug-19 Sep-19 Nov-19 Dec-19 Aug-20 Sep-20 Nov-20 Dec-20

May-19 May-20 Corporations (incl. financial and non-financial corporations) Households and non-profit institutions, rhs

Sources: Bank of Greece, ELSTAT, Eurostat 23 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

24 Alpha Bank's sustainability journey

Alpha Bank, signed (August 2019) the six Principles for Responsible Alpha Bank significantly contributes to 6 SDGs Banking (PRB) and has created a four-year plan and set targets for the implementation of the Principles of Responsible Banking

Alpha Bank demonstrates a positive trend in ESG scores and evaluations by international analysts throughout the years as a result of actions and measures taken regarding ESG issues based on international best practices.

2015 2016 2017 2018 2019 2020 MSCI ESG Rating B B BB BBB A ΑΑ (scale CCC-AAA) FTSE4Good Emerging Index     

ISS ESG Quality Score Environment: 2 Environment: 1 Environment: 1 Social: 2 Social: 2 Social: 2 (score 1-10, 1 indicates lower risk and better Governance: 8 Governance: 9 Governance: 4 disclosure) November 2018 October 2019 December 2020

Vigeo Eiris Best Emerging Market Performers  

Climate Change CDP Awareness/C Management/B- Awareness/C Awareness/C    Bloomberg Gender Equality Index (Index 2019) (Index 2020) (Index 2021) Memberships in Associations & Organisations Inclusion in Indices & ESG Analytics

25 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

26 Gross organic NPE formation in Greece per segment

Gross formation (Organic) - Wholesale Gross formation (Organic) - Retail EUR mn EUR mn 80 34 50 35

(94) (63) (40) (186) (124) (339) (192) (620)

(461) (994) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20

Gross formation (Organic) - SBL Gross formation (Organic) - Mortgages Gross formation (Organic) - Consumer EUR mn EUR mn EUR mn 160 13

(0) (20) (22) (36) (64) (65) (55) (67) (24) (28) (155) (132) (141) (126) (141) (326) (324) (373) (495) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20

Note: Gross formation including curings, repayments, liquidations and debt forgiveness 27 Auctions and repossession activity evolution

Auctioned properties (Conducted) per quarter FY 20 successfully auctioned properties: Breakdown 1.782 by highest bidder

No conducted auctions in Q2 due to Covid-19 3rd parties 789 775 26% Alpha Bank 525 558 412 374 40% 0 42% 40% 41% 34% 31% 0% 36% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 74% unsuccessful % of successful over conducted auctions

REO portfolio evolution (entries/exits) – Greece EUR mn 122 . Conducted auctioned property volumes impacted by notaries’ abstention and 40 Covid-19 €0.8bn . 74% of successfully auctioned properties have been acquired by Alpha €0.7bn €0.8bn -110 . For 2020, disposed assets included large tickets as well as granular sales -58  Large ticket sales included portfolio transactions or individual asset sales REO portfolio 4,2k properties . In Cyprus & SEE, the Bank has concluded asset sales of circa €27mn of €0.80bn value strengthening its disinvestment strategy

REO Portfolio Acquisitions Sales REO Portfolio Acquisitions Sales1 REO Portfolio 31.12.18 31.12.19 31.12.20

1| BV of sales- include also 23mn related to the sale of the Skywalker Project. SPA signed during 2020 and transaction fully completed during Feb-21. Sale of assets part of Jupiter transaction are excluded from the presented 28 graph. Detailed overview of Alpha Bank’s asset quality by portfolio pro-forma Galaxy - Greece

(€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 16.1 2.9 9.7 4.0 32.8 (-) Accumulated Provisions (1.3) (0.7) (0.8) (1.4) (4.2) Net loans 14.8 2.2 8.9 2.6 28.6 NPLs 1.1 0.9 1.3 1.4 4.7 NPL ratio1 6.9% 31.4% 13.4% 34.2% 12.9% NPEs 2.6 1.4 2.8 2.0 8.8 NPE ratio1 16.3% 46.7% 29.1% 48.8% 24.0% NPL collateral 0.6 0.3 0.9 0.1 2.0 NPE collateral 1.6 0.6 2.2 0.2 4.6

174% 133% 133% 115% 56% 111% 96% 106% 111% 101% Collateral 82% 43% Coverage ratio 38% 70% 9% 61% 44% 78% 11% 53% 118% 102% Cash 77% 63% 71% 90% 50% 52% 29% 48% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE

NPLs 1.1 0.9 1.3 1.4 4.7 (+) Forborne NPLs < 90 dpds 1.2 0.4 1.5 0.6 3.7 (+) Unlikely to pay 0.3 0.0 0.0 0.0 0.4 NPEs 2.6 1.4 2.8 2.0 8.8 Forborne NPLs >90dpd 0.4 0.4 0.7 1.2 2.6 Forborne NPLs <90dpd 1.2 0.4 1.5 0.6 3.7 Performing forborne 0.3 0.7 2.2 0.4 3.6 Total forborne 1.9 1.5 4.4 2.2 10.0

1| Total ratio takes into account the senior notes. 29 Detailed overview of Alpha Bank’s asset quality by portfolio pro-forma Galaxy - Group

(€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 19.1 3.0 12.8 4.5 39.4 (-) Accumulated Provisions (1.9) (0.7) (1.6) (1.5) (5.7) Net loans 17.1 2.3 11.3 3.0 33.7 NPLs 1.8 1.0 2.5 1.5 6.8 NPL ratio1 9.4% 32.0% 19.3% 34.1% 15.7% NPEs 3.7 1.4 4.1 2.2 11.4 NPE ratio1 19.4% 47.2% 32.3% 47.9% 26.5% NPL collateral 1.0 0.4 1.4 0.2 2.9 NPE collateral 2.2 0.6 2.8 0.3 5.8

160% 127% 111% 114% 119% 110% Collateral 54% 96% 104% 101% 12% 84% 42% 37% 55% Coverage ratio 59% 43% 66% 14% 51% Cash 107% 99% 77% 70% 85% 52% 52% 63% 38% 50% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE

NPLs 1.8 1.0 2.5 1.5 6.8 (+) Forborne NPLs < 90 dpds 1.6 0.4 1.6 0.6 4.2 (+) Unlikely to pay 0.3 0.0 0.1 0.0 0.4 NPEs 3.7 1.4 4.1 2.2 11.4 Forborne NPLs >90dpd 0.7 0.4 1.4 1.2 3.6 Forborne NPLs <90dpd 1.6 0.4 1.6 0.6 4.2 Performing forborne 0.4 0.7 2.3 0.5 3.8 Total forborne 2.6 1.5 5.3 2.3 11.7

1| Total ratio takes into account the senior notes. 30 Excellent track record in off-loading the most problematic part of the NPEs

Size Completion Transaction details

“Corporate Loan Sale” €82mn Q4 2017  Syndicated non-performing corporate loan

Portfolio of non-performing unsecured consumer and small “Project Venus” c. €0.9bn Q1 2018  business loans

“Corporate “Project Galaxy” €264mn Q2 2018 €10.8bn Portfolio”  Significant contribution in international assets deleveraging “Project Mars” Positive financial impact and capital ratio accretive “Retail  transaction for the Group Portfolio” €22mn Q3 2017

“Project Jupiter” c. €1.0bn Q4 2018  SMEs loan portfolio secured with real estate assets Since 2017 Alpha Bank NPE transactions including Galaxy:

Portfolio of non-performing unsecured consumer and small “Project Mercury” c. €1.1bn Q4 2018  business loans >€15bn

“Project Neptune” c. €1.1bn Q3 2020  SMEs loan portfolio secured with real estate assets

31 Detailed overview of Alpha Bank’s asset quality by portfolio before Galaxy impact - Greece

(€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 18.7 5.0 13.9 4.9 42.5 (-) Accumulated Provisions (2.8) (1.7) (2.1) (1.8) (8.3) Net loans 15.9 3.3 11.8 3.1 34.2 NPLs 3.0 2.7 4.7 2.2 12.5 NPL ratio 16.0% 54.8% 33.5% 43.6% 29.5% NPEs 5.2 3.4 6.8 2.8 18.3 NPE ratio 27.8% 67.7% 49.2% 57.6% 42.9% NPL collateral 1.6 1.2 3.4 0.5 6.7 NPE collateral 3.1 1.6 5.3 0.6 10.5

147% 120% 112% 105% 118% 107% 106% 103% Collateral 55% 97% 86% 22% 54% 59% 45% 47% 73% 77% 22% 58% Coverage ratio 92% Cash 84% 64% 66% 53% 61% 49% 45% 30% 46% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE

NPLs 3.0 2.7 4.7 2.2 12.5 (+) Forborne NPLs < 90 dpds 1.8 0.6 2.1 0.7 5.3 (+) Unlikely to pay 0.4 0.0 0.1 0.0 0.5 NPEs 5.2 3.4 6.8 2.8 18.3 Forborne NPLs >90dpd 1.5 0.7 2.2 1.6 6.0 Forborne NPLs <90dpd 1.8 0.6 2.1 0.7 5.3 Performing forborne 0.3 0.7 2.4 0.5 3.8 Total forborne 3.5 2.1 6.6 2.8 15.0

32 Detailed overview of Alpha Bank’s asset quality by portfolio before Galaxy impact - Group

(€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 21.6 5.1 17.0 5.4 49.1 (-) Accumulated Provisions (3.4) (1.7) (2.8) (1.9) (9.8) Net loans 18.2 3.4 14.2 3.5 39.3 NPLs 3.7 2.8 5.8 2.3 14.6 NPL ratio 17.1% 54.9% 34.3% 42.7% 29.8% NPEs 6.3 3.4 8.2 3.1 20.9 NPE ratio 29.0% 67.7% 48.0% 56.1% 42.5% NPL collateral 2.0 1.2 3.9 0.5 7.6 NPE collateral 3.6 1.6 5.8 0.7 11.8

145% 119% 112% 105% 115% 106% 106% 103% Collateral 54% 97% 86% 58% 44% 66% 23% 52% Coverage ratio 47% 71% 23% 56% Cash 92% 83% 64% 67% 54% 61% 49% 48% 35% 47% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE

NPLs 3.7 2.8 5.8 2.3 14.6 (+) Forborne NPLs < 90 dpds 2.1 0.6 2.3 0.7 5.8 (+) Unlikely to pay 0.4 0.0 0.1 0.0 0.5 NPEs 6.3 3.4 8.2 3.1 20.9 Forborne NPLs >90dpd 1.7 0.7 2.9 1.7 6.9 Forborne NPLs <90dpd 2.1 0.6 2.3 0.7 5.8 Performing forborne 0.4 0.7 2.5 0.5 4.0 Total forborne 4.2 2.1 7.6 2.9 16.7

33 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

34 Group RWAs and Regulatory Capital

Group Risk Weighted Assets IFRS 9 and B3 DTA amortisation EUR bn EUR mn (€0.7bn)

46.1 0.1 45.4 Amortisation 2020 2021 2022 2023 2024 3.6 (0.4) (0.4) 3.2 IFRS 9 -239 -319 -398 -398 1.6 1.7 40.4 DTA Basel 3 -39 -39 -39 -39 -39

40.9 Sep-20 Credit Market Operational Dec-20

Credit Market Operational

Credit Risk Weights per portfolio DTA & Tax Credit with CET1 Capital % EUR bn

CET1 7.8 6.6 4.3 103% 3.8 72% DTC 59% DTC 100% IFRS9 3.0 3.0 RWf Other DTA 0.3 DTA 250% Performing Net NPE Total Loan Portfolio 1.0 0.8 RWf RWA Density Dec-20 Dec-20 (phased-in) (fully loaded)

35 Regulatory Capital and Capital Requirements

Equity to regulatory capital bridge Overall Capital Requirements EUR mn %

11.1% Tangible book value / Tangible Assets 14.0% 0.5% O-S II 2.5% 11.0% Composed by 8,342 CCB 8,289 7,827 7,830 512 Composed CET 1 (1.7%) 7,687 1,152 3 3.0% 3.0% AT1 (0.55%) P2R entirely by (602) CET 1 Tier 2 (0.75%) (1,012) Tier 2 2.0% 2.0% AT1 1.5% 1.5% Pillar 1 4.5% 4.5%

Ordinary Intangibles Tangible DTA Other CET1 Hybrids Tier 1 Lower Total 1 Equity book Deduction capital Tier II Capital 2020 OCR 2020 OCR value from CET1 Ratio (pre) (post relief measures)

1| Excluding CCB 2.5% and OS-II buffer 0.5% 36 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

37 Balance sheet composition

Asset split Liabilities and Equity split EUR bn EUR bn 70.1 70.1 68.6 68.6 Cash 5.1 Cash 7.5 11.9 11.9 ECB ECB Due from Banks 2.8 Due from Banks 2.7 Due to Banks 1.2 Due to Banks 1.3 excl. ECB excl. ECB Securities 10.5 Securities 10.1

13.7 14.4 17.1 Time 17.1 Time deposits deposits

41.7 43.8 Net Net loans 39.8 loans 39.4 27.3 Core 30.1 Core 24.8 deposits 24.8 deposits

Debt Debt 1.4 securities 1.2 securities PPE 0.8 PPE 0.8 DTA 5.3 DTA 5.3 8.5 8.3 Equity

4.2 4.3 Other (Incl.Other HFS) Other (Incl.Other HFS) 3.8 3.6 Other Sep-20 Dec-20 Sep-20 Dec-20

38 Business Volumes

% Dec 2020/ (€ mn) Dec 2020 Sep 2020 Jun 2020 Mar 2020 Dec 2019 Dec 2019 Group Gross Loans 49,130 49,148 48,756 49,095 48,731 0.8% Mortgages 17,008 17,073 17,181 17,294 17,474 (2.7%) Consumer Loans 4,187 4,208 4,207 4,218 4,258 (1.7%) Credit Cards 1,257 1,309 1,297 1,310 1,415 (11.2%) Small Business Loans 5,054 4,985 4,789 4,792 4,842 4.4% Medium and Large Business Loans 21,623 21,574 21,281 21,482 20,741 4.3% of which: Greece 42,538 42,485 41,999 42,240 41,777 1.8% Mortgages 13,893 13,955 14,049 14,144 14,333 (3.1%) Consumer Loans 3,715 3,736 3,734 3,738 3,775 (1.6%) Credit Cards 1,223 1,274 1,263 1,274 1,378 (11.3%) Small Business Loans 4,990 4,920 4,724 4,726 4,776 4.5% Medium and Large Business Loans 18,717 18,600 18,229 18,357 17,514 6.9% of which: Shipping Loans 2,234 2,213 2,301 2,246 2,172 0.9% Southeastern Europe 6,196 6,287 6,370 6,458 6,535 (5.4%)

Accumulated Provisions (9,841) (9,437) (9,419) (9,422) (9,558) 4.3% Group Net Loans 39,380 39,808 39,428 39,767 39,266 0.2%

Customer Assets 49,332 46,661 45,776 46,315 45,929 7.4% of which: Group Deposits 43,831 41,657 40,868 41,894 40,364 8.6% Sight & Savings 30,141 27,288 25,845 24,826 23,362 29.0% Time deposits & Alpha Bank Bonds 13,690 14,369 15,024 17,067 17,002 (19.5%) Greece 38,035 35,804 34,991 36,081 34,450 10.4% Sight & Savings 27,271 24,471 23,138 22,253 20,830 30.9% Time deposits & Alpha Bank Bonds 10,764 11,333 11,852 13,829 13,620 (21.0%) Southeastern Europe 5,222 5,267 5,290 5,202 5,266 (0.8%) Money Market Mutual Funds 93 101 105 111 127 (26.5%) Other Mutual Funds 1,741 1,530 1,485 1,313 1,789 (2.7%) Private Banking 3,667 3,372 3,317 2,997 3,648 0.5%

39 Breakdown of loans portfolio – December 2020

Total Group loans – per segment Group Loans portfolio structure EUR bn SBLs EUR bn Households 46% 9% Media & Consumer loans Communication 9% Mortgages 1% Credit Cards 35% Agriculture 3% 1% €49.1bn €49.1bn Energy Trade 2% 13% Wholesale loans Real Estate 44% Manufacturing 4% 11% Construction Shipping loans portfolio structure Transportation 5% EUR bn VLCC (Tankers) 7% Other Suezmax (Tankers) 4% Tourism 5% 10% Containers 5% Tankers Afamax (Tankers) 8% 32% 3% LNG Panamax (Tankers) 5% 3% Passenger Vessels Product (Tankers) 4% 12% €2.2bn Handysize/Handymax (Bulk Carriers) Capesize (Bulk Carriers) 18% 11% Dry Bulk Panamax (Bulk Carriers) 51% 22%

40 Revenue to be supported by increase in new financing of €5.6bn in 2020 vs. €3.5bn in 2019

New disbursements – per category FY 2020 Business disbursements – per sector EUR mn

Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 19 19 19 19 19 20 20 20 20 20 Agriculture Entertainment 3% Individuals 48 70 75 119 312 64 84 87 82 318 3% Construction Trade 4% Business 567 842 907 891 3,206 1,575 938 1,462 1,325 5,299 22% Real Estate 4% Other Total 615 911 982 1,010 3,518 1,639 1,022 1,549 1,407 5,617 7%

€5.3bn Tourism 10% Manufacturing Loan disbursements of €5.6bn in FY 2020 . 18% . 94% to business, 6% to individuals Energy . Business disbursements primarily towards sectors that drive the economy 11% Transportation such as transportation, manufacturing, trade and energy 18%

41 Deposits flow per quarter

Alpha Bank deposits evolution in Greece Deposits breakdown – December 2020 EUR bn Q1: Q2: Q3: Q4: €1.6bn (€1.1bn) €0.8bn €2.2bn 0.9 2.8 38.0 34.5 1.4 0.2 36.1 35.0 1.3 35.8 Time (0.6) Δ Time 28% (2.0) (0.5)

Δ Core Core 72%

Dec-19 Core Time Mar-20 Core Time Jun-20 Core Time Sep-20 Core Time Dec-20

Alpha Bank deposits evolution in Greece Deposits breakdown – December 2020 EUR bn

Business 38.0 Δ Individuals 31% 0.4 35.8 1.3 0.9 34.5 1.2 36.1 0.3 35.0 0.7 0.1 Individuals (1.4) Δ Business 69%

Dec-19 Bus. Indiv. Mar-20 Bus. Indiv. Jun-20 Bus. Indiv. Sep-20 Bus. Indiv. Dec-20

Note: Business deposits include State deposits 42 Wealth management evolution

Alpha Private Bank balances Asset Management balances EUR mn EUR mn

4,539 4,553 4,262 4,282 2,282 2,230 1,167 1,102 997 993 61 48 1,962 1,997 51 50

1,548 1,474 1,300 2,859 1,278 2,934 2,779 2,764

673 633 647 708 437 486 525 593

Dec-19 Jun-20 Sep-20 Dec-20 Dec-19 Jun-20 Sep-20 Dec-20 Discretionary Advisory Execution Only Money Market Mutual Funds Non Money Market Mutual Funds Other AUM

43 Quality improvement of our remote services resulted in increased digital sales penetration

Shift of financial transactions from Alpha Bank the only Greek Bank offering Branches to digital networks (e-banking, Mobile Banking Apple Pay to its customers ATM and APS)1 93.3% (% share of digital over total) peak in Apr-20 >145,000 93.4% 92.8% 92.7% new users 92.1% 792,000 89.4% active users ~3.5 million 88.3% 86.7% 87.3% 86.7% transactions +45% yoy in 2020 84.3% in 2020 150 million logins . The only Greek Bank offering a full range of digital Q1 Q2 Q3 Q4 FY +69% yoy wallets: Apple Pay, Garmin Pay, myAlpha Wallet 2019 2020 Significant increase of remote in 2020 . Covid-19 further increased the use of contactless 13.4 million registrations vs. visiting a branch transactions with Alpha Bank cards to 7 out of 10 (% new e-banking subscribers through mobile vs. branches) financial transactions Key initiatives for 2021 336k new e-banking 78.5% ▪ Redesign and digitize the end-to-end retail credit journey, subscribers in 2020 peak in 60.1% +68% yoy in taking an omni-channel approach Apr-20 2020 45.4% ▪ Make most common retail credit products available 41.9% 43.3% online, reducing drastically approval time 30.6% 30.7% Further reduce monetary transactions in branches by 25.1% 25.7% ▪ 23.9% 22.6% transferring business-related transactions to digital channels Q1 Q2 Q3 Q4 FY ▪ In addition to “myAlpha rendezvous”, further enhance the 2019 2020 Bank’s remote servicing and sales channels

1| Automated Payment Systems 44 Pages • 2020 Highlights 3

• 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20

• Appendix . ESG 24 . Asset Quality 26 . Capital 34 . Volumes 37 . P&L 45

45 Net Interest Income

NII qoq evolution EUR mn NII decomposition EUR mn

€6mn

5.1 4.1 388.0 387 381 391 382 388 381.8 -2.8 -0.2 50 50 51 42 46

399 390 391 386 391

4 4 NII Loans Deposits Funding Bonds NII (52) (48) (47) (51) (53) Q3 20 & Other Q4 20 (10) (10) (4)

Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 . Net Interest Income in Q4 2020 increased by 2% qoq at Euro 388 million on higher contribution from asset-side. . Loans NII increase of €5.1bn is mainly attributed to increased spreads dominated by the market rate movement. Bonds & other Loans Funding Deposits . Deposits NII decrease stemming from increased deposit balances, and further reduction of market rates partially offset by repricing

46 Net Fee and Commission income

Net Fee & Commission Income evolution y-o-y Net Fee & Commission Income evolution q-o-q EUR mn EUR mn

-1% -1% 340 1 3 3 1 335 85 9 3 1 84 11 2 2 (5) (9) 0 3 60 66 15 (6) (1) 18 271 258 68

63

FY 19 Cards Loans Other Bancassurance Asset IB & FY 20 Q3 20 Cards Loans Other Bancassurance Asset IB & Q4 20 Commercial & Private Mgmt Commercial & Private Banking Banking Brokerage Banking Banking Mgmt Brokerage

Asset Gathering Commercial Banking & Bancassurance IB & Brokerage

. Net Fee and Commission income amounted to €335mn in 2020, a yearly . Net Fee and Commission income in Q4 20 stood at €84mn, down by 1.2% q-o-q decrease of 1%. Reduced commissions from loans and other banking primarily attributable to a decreased performance of card business, on the back of transactions due to reduced transactions as a result of the pandemic were reduced transactions due to the lockdown, which was partially offset by higher loan partially offset by the increased commissions of mutual funds commissions and increased fee generation from asset management

47 Loan and deposit spreads

Net loan balances & spreads Deposit mix & cost evolution EUR bn EUR bn, bps 402 400 397 (50) (47) (45) (47) (48) 395 392 % Total 40.4 41.9 40.9 41.7 43.8 39.8 39.4 39.8 39.4 39.3 13.7 End of 17.0 17.1 15.0 14.4 31% quarter 30.1 balances 23.4 24.8 25.8 27.3 69%

Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Net Loans Group loans spread Core deposits Time deposits Group deposits spread Lending spreads (Greece and SEE) Deposit spreads (Greece and SEE) bps bps

858 852 854 855 845 Consumer Credit (7) SE Europe (9) (15) (19) (18) Small Business Sight and 588 568 579 Loans 568 571 (45) Savings (45) (45) (51) SEE (52) 417 416 422 417 411 Time (52) (52) Deposits 397 393 (56) 386 380 383 Large Corporates (64) (73) 251 250 249 255 251 Mortgages Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20

48 Recurring Operating Expenses

Recurring OPEX evolution yoy Recurring OPEX evolution qoq EUR mn EUR mn

- €39mn + €10mn -4% +4% 1,081 1,042 9 12 264 5 7 274 Depreciation 12 Cepal 0 145 (29) 9 & amortization (30) 39 3 (2) 39 154 459 Staff costs 105 110 428 General 477 117 115 expenses 448 FY 19 General Staff D&A Cepal FY 201 Q3 20 General Staff costs D&A Cepal Q4 20 expenses costs expenses . Recurring operating expenses for the Group continued to decline, down by 4% y-o-y or €39mn to €1,042mn, as a result of reduced General expenses and lower Staff Costs . General Expenses decrease is attributed to lower NPL remedial management costs as well General Staff costs Depreciation Cepal expenses & amortization as on the back of cost cutting measures to reduce third party spend, marketing and other core expenses . Staff Costs’ reduction, mainly reflects the impact from the Bank’s headcount reduction due to the Voluntary Separation Scheme (VSS) implemented in our operations in Greece in 2019 . D&A increase is mostly attributable to an intangible assets increase due to IT capex

1 | FY 2020 Opex is pro-forma for Cepal’s consolidation. This impacted Recurring FY 2020 expenses by €11.7mn, out of which €6mn staff, €5.2mn G&A expenses and €0.5mn D&A 49 Operating Expenses

EUR mn FY 19 FY 20 yoy % Recurring OPEX evolution EUR mn Staff costs (458.8) (434.4) (5.3%) General Administrative Depreciation & (477.2) (453.0) (5.1%) 284 274 amortisation expenses 252 253 264 37 39 Depreciation and 38 38 39 (144.5) (154.5) 6.9% General amortisation administrative Recurring OPEX (1,080.5) (1,042.0) (3.6%) 130 107 108 117 120 expenses Staff costs Extraordinary costs (94.2) (115.8) … 117 107 106 107 114 Total OPEX (1,174.7) (1,157.8) (1.4%) 1 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Employees Branches

Greece 9,687 8,888 8,667 8,147 8,080 7,354 7,330 7,321 7,296 6,687 Greece2 626 533 483 443 414 394 369 361 347 336

Hilton Bulg -323 -83 FYROM -240 Serbia FYROM -836 -18 13,856 Serbia VSS Cy VSS Gr 897 -67 -249 -523 VSS Gr3 11,863 11,727 -836 721 11,314 670 11,251 629 10,530 10,511 10,509 600 580 10,481 556 549 534 9,712 519

4 Dec-15 Dec-16 Dec-17 Dec-18 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Dec-15 Dec-16 Dec-17 Dec-18 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20

1| Cepal’s consolidation impacted Recurring expenses by €2.6mn. 2 | Includes corporate and private banking centers. 3| including sabbaticals. 4| pro forma for Cepal deconsolidation of 816 FTEs as of Dec-20 50 SEE Operations1

EUR mn Δ% Δ% Δ% Δ% Dec-20 Romania yoy Cyprus yoy Albania yoy Total SEE yoy Deposits 2,644 1.9% 2,067 (3.7%) 512 (2.8%) 5,222 (0.8%) Gross Loans 2,643 (0.5%) 3,271 (8.7%) 282 (4.7%) 6,196 (5.2%) Mortgages 1,250 6.6% 1,762 (5.8%) 76 6.8% 3,089 (0.9%) Consumer Credit 231 (2.9%) 230 (3.2%) 39 9.0% 500 (2.2%) Businesses 1,162 (6.7%) 1,280 (13.2%) 166 (11.7%) 2,608 (10.3%) NPE ratio 6.5% 73.3% 15.9% NPE Cash coverage 87% 56% 42% NPE Total coverage 144% 100% 128% NPL ratio 3.5% 59.8% 10.6% NPL Cash coverage 158% 69% 63% NPL Total coverage 211% 109% 152% Total Operating Income 137.8 (2.8%) 97.6 (7.6%) 19.6 (3.6%) 255.0 (4.8%) Operating Expenses (pre O/H allocation)2 (105.0) (7.0%) (71.9) 8.8% (18.3) 8.7% (195.2) (8.1%) Impairment Losses (11.5) (14.1%) (157.6) 60.8% (0.7) … (169.8) 48.4% Profit Before Tax (pre O/H allocation) 21.3 36.9% (131.9) …. 0.5 21.2% (110.1) …. Branches 131 17 34 182 Employees 2,006 531 416 2,953

1| Country View. 2| Excluding €16.2mn one-off expenses related to NPE management costs in Cyprus and €26.2mn 2020 VSS cost 51 Alpha Bank Group

qoq% yoy % (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 change change Net interest income 388.0 381.8 390.7 381.2 387.1 1.6% 0.2% Net fee and commission income 83.8 84.8 77.5 89.2 93.1 (1.2%) (10.0%) Income from financial operations 429.5 38.4 138.5 83.6 138.0 … … Other Income 5.0 7.0 2.6 9.9 6.0 … … Operating Income 906.3 512.0 609.2 563.9 624.3 77.0% 45.2% Staff costs (113.7) (107.3) (106.4) (107.0) (116.9) 6.0% (2.7%) General administrative expenses (120.5) (117.1) (108.5) (107.0) (130.2) 2.9% (7.5%) Depreciation and amortization (39.4) (39.2) (38.4) (37.5) (37.3) 0.3% 5.6% Recurring Operating expenses (273.6) (263.6) (253.2) (251.6) (284.4) 3.8% (3.8%) Extraordinary costs (95.9) (5.0) (7.6) (7.4) (66.7) … … Total Operating expenses (369.4) (268.6) (260.8) (259.0) (351.1) 37.5% 5.2% Impairment losses on loans (569.5) (168.6) (260.6) (307.4) (244.8) … … Other impairment losses 1.3 (2.0) (3.7) (9.0) (6.1) … … Profit / (Loss) before income tax (31.3) 72.8 84.1 (11.5) 22.3 … … Income Tax 1.7 (31.5) 20.5 (0.8) (4.3) … … Profit / (Loss) after income tax from continuing (29.6) 41.3 104.6 (12.4) 18.0 … … operations Profit / (Loss) attributable to shareholders (29.7) 41.3 104.6 (12.4) 17.8 … … Net interest Margin (NIM) 2.2% 2.2% 2.3% 2.3% 2.5%

52 Group Results by Business Unit

Investment Commercial & Asset Retail SE Europe Banking & Other Group Corporate Management (€ mn) Treasury Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Operating Income 822.7 811.0 617.8 601.9 255.0 267.7 796.1 546.9 70.8 70.5 29.0 23.4 2,591.4 2,321.3

Net Interest Income 650.4 679.0 520.1 519.4 201.7 210.4 153.8 122.4 14.5 13.8 1.2 2.4 1,541.6 1,547.3

Net fee and Commission Income 110.6 116.2 106.8 125.6 34.1 31.7 32.1 18.9 51.9 48.1 (0.1) (0.2) 335.3 340.1

Trading & Other 61.8 15.9 (9.0) (43.1) 19.2 25.6 610.1 405.6 4.5 8.6 27.9 21.3 714.4 433.9

Operating Expenses (566.3) (595.3) (166.1) (178.2) (254.6) (212.4) (30.2) (28.7) (38.1) (35.3) (102.5) (124.8) (1,157.8) (1,174.7)

Staff Costs (225.9) (249.9) (73.8) (81.6) (94.3) (93.3) (13.3) (12.8) (20.3) (18.9) (32.1) (3.5) (459.5) (459.9)

General Administrative Expenses (257.6) (270.3) (61.9) (68.4) (110.5) (94.8) (13.1) (12.8) (13.4) (12.2) (54.2) (62.1) (510.7) (520.6)

Depreciation & Amortisation (82.8) (75.2) (30.4) (28.2) (23.7) (24.3) (3.9) (3.1) (4.4) (4.2) (16.2) (9.6) (161.4) (144.5)

Expenses for VSS (26.2) 0.0 0.0 (49.6) (26.2) (49.6)

Pre Provision Income (PPI) 256.4 215.7 451.7 423.6 0.3 55.4 765.8 518.2 32.8 35.1 (73.5) (101.4) 1,433.6 1,146.6

Impairment Losses on Loans (898.4) (559.6) (236.0) (322.8) (169.2) (114.8) (2.7) 2.4 (0.0) 0.0 0.1 (0.0) (1,306.1) (994.8)

Other Impairment Losses 0.0 0.0 0.0 0.0 (0.6) 0.4 (11.7) 3.6 (1.1) 0.4 0.0 0.0 (13.4) 4.4

Profit / (Loss) before tax (641.9) (343.9) 215.7 100.8 (169.5) (59.0) 751.4 524.2 31.7 35.6 (73.4) (101.4) 114.0 156.2

53 Results: Retail Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 244.2 195.4 193.6 189.6 207.7

Net Interest Income 163.6 159.0 164.8 163.0 164.7

Net fee and Commission Income 27.8 31.5 27.3 24.0 32.2

Trading & Other 52.8 4.9 1.5 2.6 10.7

Operating Expenses (151.2) (141.7) (138.6) (134.7) (150.1)

Staff Costs (59.1) (55.5) (56.3) (54.9) (61.9)

General Administrative Expenses (70.5) (65.3) (62.0) (59.8) (69.2)

Depreciation and Amortisation (21.5) (21.0) (20.3) (20.0) (19.0)

Impairment losses on Loans (481.8) (136.5) (125.6) (154.4) (123.7)

Other Impairment Losses - - - - -

Profit / (Loss) before tax (388.9) (82.9) (70.6) (99.5) (66.1)

RWA e 17,378 17,614 17,869 18,295 18,603

54 Results: Commercial & Corporate Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 156.8 149.4 158.4 153.2 119.6

Net Interest Income 131.7 127.4 133.5 127.4 129.2

Net fee and Commission Income 27.6 28.0 24.1 27.1 32.4

Trading & Other (2.5) (6.0) 0.8 (1.3) (42.0)

Operating Expenses (44.1) (42.5) (40.5) (39.0) (44.9)

Staff Costs (19.1) (18.7) (18.0) (18.0) (21.2)

General Administrative Expenses (16.8) (15.9) (15.3) (13.9) (16.6)

Depreciation and Amortisation (8.2) (7.9) (7.1) (7.1) (7.2)

Impairment losses on Loans 27.4 (39.9) (113.5) (109.9) (81.1)

Other Impairment Losses - - - - -

Profit / (Loss) before tax 140.1 67.0 4.4 4.3 (6.4)

RWA e 14,324 15,177 16,257 16,349 16,245

55 Results: Asset Management Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 25.0 11.9 14.0 20.0 19.5

Net Interest Income 3.5 3.7 4.1 3.2 3.9

Net fee and Commission Income 14.8 12.0 10.2 14.9 14.5

Trading & Other 6.7 (3.8) (0.2) 1.9 1.1

Operating Expenses (10.8) (9.9) (8.4) (9.0) (9.3)

Staff Costs (5.4) (5.6) (4.5) (4.7) (5.0)

General Administrative Expenses (4.1) (3.2) (2.9) (3.2) (3.3)

Depreciation and Amortisation (1.3) (1.0) (1.1) (1.1) (1.1)

Impairment losses on Loans 0.2 (0.3) (0.0) 0.0 (0.1)

Other Impairment Losses (0.3) (0.5) (0.0) (0.3) (0.1)

Profit / (Loss) before tax 14.1 1.3 5.5 10.7 10.0

RWA e 339 338 347 362 362

56 Results: Investment Banking & Treasury Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 406.4 77.8 174.1 137.7 196.5

Net Interest Income 38.6 40.9 38.9 35.3 35.1

Net fee and Commission Income 5.1 4.6 7.9 14.5 5.3

Trading & Other 362.6 32.3 127.3 87.9 156.1

Operating Expenses (7.8) (8.1) (7.1) (7.2) (7.9)

Staff Costs (3.8) (3.5) (3.0) (3.0) (3.6)

General Administrative Expenses (2.9) (3.5) (3.2) (3.4) (3.4)

Depreciation and Amortisation (1.1) (1.1) (0.9) (0.9) (0.9)

Impairment losses on Loans (0.6) (1.9) 1.8 (2.0) 3.5

Other Impairment Losses 1.7 (1.5) (3.6) (8.3) (5.9)

Profit / (Loss) before tax 399.8 66.3 165.2 120.2 186.2

RWA e 6,059 5,911 5,792 5,724 5,389

57 Results: SE Europe Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 64.9 63.9 60.7 65.4 68.8

Net Interest Income 50.1 50.3 49.3 52.0 52.9

Net fee and Commission Income 8.5 8.8 8.0 8.7 8.6

Trading & Other 6.3 4.7 3.5 4.7 7.2

Operating Expenses (90.7) (52.7) (51.8) (59.4) (59.7)

Staff Costs (23.7) (23.2) (23.0) (24.4) (24.6)

General Administrative Expenses (35.9) (23.6) (22.3) (28.7) (29.0)

Depreciation and Amortisation (4.9) - - - -

Expenses for VSS (26.2) (5.9) (6.5) (6.3) (6.1)

Impairment losses on Loans (114.8) 10.1 (23.3) (41.1) (43.4)

Other Impairment Losses (0.2) (0.0) (0.1) (0.3) (0.0)

Profit / (Loss) before tax (140.8) 21.3 (14.5) (35.5) (34.4)

RWA e 4,370 4,287 4,361 4,661 4,719

58 Results: Other Business Unit

(€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019

Operating Income 13.3 17.2 (1.6) 0.2 6.5

Net Interest Income 0.5 0.3 0.2 0.2 1.3

Net fee and Commission Income 0.0 (0.0) (0.1) (0.0) (0.0)

Trading & Other 12.8 16.9 (1.7) (0.0) 5.2

Operating Expenses (64.8) (13.7) (14.4) (9.6) (79.2)

Staff Costs (26.7) (1.5) (1.8) (2.2) (1.8)

General Administrative Expenses (28.9) (9.8) (10.1) (5.3) (24.7)

Depreciation and Amortisation - - - - (49.6)

Expenses for VSS (9.2) (2.4) (2.5) (2.1) (3.1)

Impairment losses on Loans 0.1 0.0 (0.0) 0.0 (0.0)

Other Impairment Losses - - - - -

Profit / (Loss) before tax (51.5) 3.5 (15.9) (9.5) (72.8)

RWA e 3,211 2,826 2,327 2,165 2,482

59 Glossary (1/2)

APM Definitions Relevance of the metric Reference number Abbreviation

Accumulated Provisions and FV The item corresponds to (i) "the total amount of provision for credit risk that the Group has recognized and derive from contracts with Standard banking 1 LLR adjustments customers", as disclosed in the Consolidated Financial Statements of the reported period and (ii) the Fair Value Adjustments. terminology The figure equals "Impairment losses and provisions to cover credit risk on loans and advances to customers" as derived from the Standard banking Impairment losses on loans 10 LLP Consolidated Financial Statements of the reported period terminology "Income from financial operations" or The figure is calculated as "Gains less losses on derecognition of financial assets measured at amortised cost" plus "Gains less losses on Standard banking 3 "Trading Income" financial transactions and impairments on Group companies" as derived from the Consolidated Income Statement of the reported period. terminology

Operating Income less Income from financial operations less management adjustments on operating income for the corresponding period. Core Operating Income Management adjustments are: Euro -9.7 million related to Goodwill impairment of an associated company in Q1 19 and Euro 13.0 million Profitability metric 5=4-3 related to Insurance company compensation in Q4 18. Core Pre-Provision Income Core Operating Income for the period less Recurring Operating Expenses for the period. Profitability metric 5-7 Core PPI Impairment losses on loans for the period divided by the average Net Loans of the relevant period. Average balances is defined as the Cost of Risk Asset quality metric 10/9 (avg) CoR arithmetic average of balance at the end of the period and at the end of the previous period. Standard banking Deposits The figure equals "Due to customers" as derived from the Consolidated Balance Sheet of the reported period. 8 terminology Standard banking Extraordinary costs The figure equals the management adjustments on operating expenses. terminology The item corresponds to the accumulated Fair Value adjustments for non-performing exposures measured at Fair Value Through P&L Standard banking Fair Value adjustments FV adj. (FVTPL). terminology Common Equity Tier 1 regulatory capital as defined by Regulation No 575/2013 (Full implementation of Basel 3), divided by total Risk Regulatory metric of capital Fully-Loaded Common Equity Tier 1 ratio FL CET 1 ratio Weighted Assets (RWAs) strength

The item corresponds to "Loans and advances to customers", as reported in the Consolidated Balance Sheet of the reported period, gross Standard banking Gross Loans of the "Accumulated Provisions and FV adjustments", excluding the accumulated provision for impairment losses on off balance sheet 2 terminology items, as disclosed in the Consolidated Financial Statements of the reported period.

Loan to Deposit ratio Net Loans divided by Deposits at the end of the reported period. Liquidity metric 9/8 LDR or L/D ratio

Net Interest Income for the period (annualised) and divided by the average Total Assets of the relevant period. Average balances is Net Interest Margin Profitability metric NIM defined as the arithmetic average of balance at the end of the period and at the end of the previous period. Standard banking Net Loans The figure equals "Loans and advances to customers" as derived from the Consolidated Balance Sheet of the reported period. 9 terminology Non Performing Exposures Collateral NPE collateral Value of the NPE collateral divided by NPΕs at the end of the reference period. Asset quality metric 13 Coverage Coverage NPE (cash) Non Performing Exposure Coverage Accumulated Provisions and FV adjustments divided by NPEs at the end of the reference period. Asset quality metric 14=1/12 coverage Non Performing Exposure ratio NPEs divided by Gross Loans at the end of the reference period. Asset quality metric 12/2 NPE ratio

60 Glossary (2/2)

Relevance of the Reference APM Definitions Abbreviation metric number Non Performing Exposure Total Accumulated Provisions and FV adjustment plus the value of the NPE collateral divided by NPEs at the end of the reported period. NPE Total coverage equals the NPE Total Asset quality metric 13+14 Coverage sum of NPE coverage and NPE collateral coverage. coverage Non-performing exposures are defined according to "EBA ITS on forbearance and Non Performing Exposures" as exposures that satisfy either or both of the Non Performing Exposures following criteria: a) material exposures which are more than 90 days past-due b)The debtor is assessed as unlikely to pay its credit obligations in full without Asset quality metric 12 NPEs realisation of collateral, regardless of the existence of any past-due amount or of the number of days past due. Non Performing Loan Collateral NPL collateral Value of collateral received for Non Performing Loans divided by NPLs at the end of the reference period. Asset quality metric 16 Coverage Coverage NPL (cash) Non Performing Loan Coverage Accumulated Provisions and FV adjustments divided by NPLs at the end of the reference period. Asset quality metric 17=1/15 Coverage Non Performing Loan ratio NPLs divided by Gross Loans at the end of the reference period. Asset quality metric 15/2 NPL ratio Non Performing Loan Total Accumulated Provisions and FV adjustments plus the value of the NPL collateral divided by NPLs at the end of the reference period. NPL Total coverage equals the NPL Total Asset quality metric 16+17 Coverage sum of NPL coverage and NPL collateral coverage. Coverage Non Performing Loans Non Performing Loans are Gross loans that are more than 90 days past-due. Asset quality metric 15 NPLs The figure is calculated as "Total Income" plus "Share of profit/(loss) of associates and joint ventures" as derived from the Consolidated Income Statement of the Standard banking Operating Income 4 reported period, taking into account the impact from any potential restatement as described in Note 32 of the Consolidated Financial Statements. terminology Standard banking Other impairment losses The figure equals "Impairment losses on other financial instruments" as derived for the Consolidated Financial Statements of the reported period. terminology This item corresponds to the sum of "Dividend income", "Other income" and "Share of profit/(loss) of associates and joint ventures", as defined in the Consolidated Standard banking Other Income Balance Sheet of the reported period. terminology Pre-Provision Income Operating Income for the period less Total Operating Expenses for the period Profitability metric 4-6 PPI Recurring Cost to Income ratio Recurring Operating Expenses for the period divided by Core Operating Income for the period. Efficiency metric 7/5 C/I ratio Total Operating Expenses less management adjustments on operating expenses. Management adjustments on operating expenses include events that do not occur Recurring Operating Expenses with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods, and Efficiency metric 7 Recurring OPEX are quoted in the appendix of the Financial Report. Standard banking Securities This item corresponds to the sum of "Investment securities" and "Trading securities", as defined in the Consolidated Balance Sheet of the reported period. terminology Standard banking Shareholders' Equity This item corresponds to "Equity attributable to equity owners of the Bank", as defined in the Consolidated Balance Sheet of the reported period. terminology Tangible Book Value (or TBV (or TE) is the sum of "Total Equity" less "Goodwill and other intangible assets", less "Non-controlling interests" and less "hybrid securities", as defined in the Standard banking TBV or TE Tangible Equity) Consolidated Balance sheet at the reported period. terminology Tangible Book Value (or Tangible Book Value (or Tangible Equity) divided by the outstanding number of shares. Valuation metric TBV/share Tangible Equity) per share The figure equals "Total Assets" as derived from the Consolidated Balance Sheet of the reported period taking into account the impact from any potential Standard banking Total Assets 11 TA restatement, as described in Note 32 of the Consolidated Financial Statements. terminology The figure equals "Total expenses before impairment losses and provisions to cover credit risk" as derived from the Consolidated Income Statement of the reported Standard banking Total Operating Expenses 6 Total OPEX period taking into account the impact from any potential restatement, as described in Note 32 of the Consolidated Financial Statements. terminology

61 Alpha Bank Contacts

Lazaros Papagaryfallou

General Manager – CFO +30 210 326 2261 [email protected]

Dimitrios Kostopoulos Elena Katopodi Stella Traka

Manager Deputy Manager Senior Investor Relations Division Investor Relations Division Investor Relations Officer +30 210 326 2271 +30 210 326 2272 +30 210 326 2274 [email protected] [email protected] [email protected]

Investor Relations Division Internet : www.alpha.gr Reuters : ACBr.AT (shares) 40 Stadiou Street, Bloomberg : ALPHA GA (shares) 102 52, Athens +30 210 326 2271 Alpha Bank Depository Receipts (ADRs) +30 210 326 2273 Reuters : ALBKY.PK +30 210 326 2277 Bloomberg : ALBKY US [email protected]

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