Corporate Presentation of Hypo Vorarlberg

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CORPORATE PRESENTATION HYPO VORARLBERG BANK AG Bregenz, September 2021 CONTENTS 01 HYPO VORARLBERG BANK AG 02 COVID-19 03 CORE MARKET 04 BUSINESS DEVELOPMENT 05 SUSTAINABILITY 06 REGULATORY REQUIREMENTS 07 LIQUIDITY AND FUNDING 08 SUMMARY 09 CONTACTS 10 APPENDIX HYPO VORARLBERG 01 BANK AG

BREGENZ

3 HYPO VORARLBERG AT A GLANCE

Largest single banking institution in Vorarlberg Financial data ▪ 719 employees ▪ Earnings before taxes: EUR 46.2 mln ▪ Total assets of EUR 15 billion ▪ Cost-Income ratio: 59.36% ▪ Total capital ratio: 17.96% Strong distribution channels in our home ▪ CET1 capital ratio: 14.61% market ▪ 20 branches (15 in Vorarlberg, also active in St. Gallen, Bolzano and Southern Germany) ▪ Leading corporate bank in Vorarlberg ▪ approx. 90,000 retail- and approx. 11,000 business customers

Ratings ▪ S&P: A+ (Outlook: negative) ▪ Moody‘s: A3 (Outlook: stable) ▪ C Rating (Prime) of ISS-ESG

Source: Semi-annual report as of June 2021 4 WHO IS HYPO VORARLBERG?

OVER

OVER 100,000 120 OVER CLIENTS YEARS 700 EMPLOYEES (GROUP)

80% TOTAL ASSETS OF THE „TOP RATINGS 100“-COMPANIES STANDARD & POOR´S: A+ IN VORARLBERG MOODY´S: A3 LARGEST 15 ISS-ESG: SINGLE BANKING BILLION EUR C-RATING (PRIME) INSTITUTION IN VORARLBERG

5 OUR CORE COMPETENCIES

The people and businesses in Vorarlberg, throughout Austria and in selected regions are our customers. We focus on what we do best – our core competencies.

FINANCING + SUBSIDIES ADVISORY FINANCING CORPORATE PRIVATE PAYMENT TRANSACTIONS INVESTMENT CLIENTS CLIENTS INVESTMENT RETIREMENT PROVISIONS

6 OUR SHAREHOLDERS

76.8732 % 23.1268 % Vorarlberger Landesbank Holding (State of Vorarlberg) Austria Beteiligungsgesellschaft mbH

Landesbank Landeskreditbank Baden-Württemberg Baden-Württemberg Förderbank

HYPO VORARLBERG BANK AG

Hypo Immobilien Hypo IMMO ITALIA Hypo Vorarlberg Leasing Holdings: & Leasing GMBH, Bolzano in Bolzano, Italy - comit Versicherungsmakler - Masterinvest KAG

7 BUSINESS STRATEGY

Continuity & reliability Strengthening the brand Customer business remains at the center Consolidate or expand position

Organic Growth Wealth Management Productivity & Digitalization Regions of growth in Expansion of the top Efficiency Integration of IT in the eastern Austria and segment of the Cost leadership is an bank for the further southern Germany investment business important strategic development of digital advantage applications and processes

8 02 COVID-19

STELLISEE AND MATTERHORN, KANTON WALLIS, SUI

9 COVID-19 IN AUSTRIA

▪ Restaurants, hotels, cultural and leisure facilities as well as baths are open under special safety precautions. The prerequisite for this is that guests are "tested, vaccinated or recovered" ("3-G rule"). There is also a registration requirement. ▪ From July 22, access to night gastronomy is only possible for vaccinated and PCR-tested people, and from August 15, vaccination is only valid after complete immunization as evidence of a low epidemiological risk. The proof is issued from the day of the 2nd vaccination. ▪ In all places where the 3-G rule applies, there is no mask requirement. In public transport, grocery stores, pharmacies, banks and post offices, the wearing of a mouth and nose protection is mandatory (as of September 15: FFP2-mask instead of mouth and nose protection, for unvaccinated persons also in stores mandatory) . There is also an exception to the mask requirement for retirement and nursing homes as well as health care facilities. ▪ 63.14 % of the total Austrian population (as of September 16) have received at least one COVID-19 vaccination, of which 59.67 % have full vaccine protection.

Source: www.sozialministerium.at / Coronavirus 10 COVID-19 IN AUSTRIA

▪ COVID-19 step-by-step plan for autumn: The COVID-19regulations are set depending on the utilization of intensive care beds in hospitals:

comes into force seven days As of 15 September after exceeding the limit Tighter controls on the measures in force night gastronomy and large events without Antigen-tests only valid for 24 hours allocated seating: access only for vaccinated or recovered persons FFP2-mask instead of mouth and nose protection (where masks are currently 300 beds living room tests no longer valid as “3-G” mandatory) proof 200 beds austria-wide Recommendation of FFP2-masks also in comes into force seven days stores, for unvaccinated persons mandatory after exceeding the limit “3-G” for events with more than 25 persons everywhere where “3-G” applies: access (previously 100) only for vaccinated, recovered or PCR 400 beds tested persons

Source: APA/ORF.at, Government

11 COVID-19 IN AUSTRIA

▪ In order to support the economy in this crisis, the Federal Government of Austria has put together an assistance package to safeguard jobs and the liquidity of companies. The assistance package includes:

Corona assistance package

Short-time work (EUR 10.30 bln) Guarantees (EUR 7.20 bln) Tax deferrals and reductions (EUR 5.20 bln) Already paid/ Emergency aid (EUR 5.40 bln) approved Sales replacement (EUR 3.40 bln) 40.1 bln EUR Hardship Fund (EUR 2.10 bln) (As of September 13, 2021) Fix cost subsidy (EUR 1.70 bln) Default bonus (EUR 3.00 bln) Community package (EUR 0.80 bln) NPO Support Fund (EUR 0.50 bln) Other supports (EUR 0.50 bln)

Source: www.bmf.gv.at / Coronavirus

12 VACCINE PROGRESS SUPPORTS ECONOMIC RECOVERY

▪ The withdrawal of containment measures to prevent the spread of COVID-19, which goes hand in hand with the progress of vaccination, leads to a strong upswing in the Austrian economy by mid-2021.

▪ At the end of July, economic output in Austria was +0.6 % just above the pre-crisis level for the first time since the outbreak of the COVID-19crisis.

▪ A significant contribution to the improvement was made by the increase in overnight stays by foreign guests in Austria. In particular, guests from Germany, by far the most important country of origin, are responsible for this positive development.

▪ There is a sideways movement in real consumer spending by Austrian households. The recent rise in inflation has a dampening effect on real consumption.

▪ By contrast, positive contributions to growth continued to come from the export-oriented industry, which had already returned to its pre-crisis level by the end of 2020.

▪ However, the industrial economy continues to develop weaker than the sentiment indicators indicate. Capacity and transport bottlenecks for raw materials are likely to prevent a stronger expansion of production.

Source: www.oenb.at, Konjunktur aktuell – June 2021 / Wöchentlicher BIP-Indikator der OeNB für die Kalenderw ochen 25-29

13 IMPACT OF COVID-19 FOR HYPO VORARLBERG

▪ Coping with the COVID-19 pandemic and its consequences will shape the entire fiscal year 2021 and is expected to affect all business areas of Hypo Vorarlberg.

▪ Due to the reserves made in the past years and the stable equity situation, Hypo Vorarlberg can overcome the current difficult economic situation.

▪ In addition to a solid equity base, Hypo Vorarlberg has sufficient liquidity reserves and a diversified funding structure.

▪ Hypo Vorarlberg is taking the right steps. A corona company traffic light was formed. A crisis team meets regularly and the employees work in team splitting.

▪ Hypo Vorarlberg is currently reviewing the technical implementation of the inclusion of the Bridge- Finance guarantees in the cover pool.

14 OUR 03 CORE MARKET

RHEINTAL

15 WIRTSCHAFTSLAGE – VORARLBERG UND ÖSTERREICH

VORARLBERG ÖSTERREICH

Bevölkerung: 397.139 Bevölkerung: 8.901.1064

Fläche: 2.601 km2 Fläche: 83.879 km2

16 ECONOMIC SITUATION – AUSTRIAN FUNDAMENTALS

in % Austria Euro-Zone 2020 2021 2022 2020 2021 2022 Gross Domestic Product (GDP), real -6.3 4.0 5.0 -6.5 4.8 4.5 Inflation (HICP) 1.4 2.3 2.1 0.3 1.9 1.4 Unemployment rate 5.4 5.0 4.8 7.8 8.4 7.8 Current account balance in % GDP 2.5 0.2 0.4 2.2 3.1 3.1 Budget surplus/deficit (Maastricht) in % GDP -8.9 -8.4 -4.3 -7.2 -8.0 -3.8 Structural budget surplus/deficit in % GDP -6.4 -6.3 -4.2 -3.6 -6.2 -3.7 Debt to GDP in % 83.9 89.6 88.1 100.0 102.4 100.8

Rating of Austria Longterm Shortterm Outlook Moody's Aa1 P-1 Stable Standard & Poor's AA+ A-1+ Stable Fitch AA+ F1+ Stable DBRS AAA R-1 (high) Stable

Sustainability Rating Sustainanalytics # 10 of 172 countries worldwide ISS-ESG # 12 of 60 countries worldwide EPI (Yale Universität) # 6 of 180 countries worldwide SDG Index # 6 of 166 countries worldwide

Source: www.oebfa.at, August 2021

17 ECONOMIC SITUATION – VORARLBERG AND AUSTRIA

Real change in Gross Domestic Product Debt Per Capita 2019 in EUR (2012-2020 in %, average per year)

Vorarlberg 1.84% Tyrol 811

Tyrol 1.81% Vorarlberg 945

Upper Austria 1.58% Upper Austria 1,245

Burgenland 1.46% Salzburg 2,091

Styria 1.45% Austria 3,188

Salzburg 1.36% Burgenland 3,723

Lower Austria 1.36% Styria 3,787

Austria 1.35% Vienna 4,474

Carinthia 0.94% Lower Austria 5,445 Vienna 0.94% Carinthia 6,172

0.0% 0.5% 1.0% 1.5% 2.0% 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000

Source: www.wko.at, July 2021

18 ECONOMIC SITUATION – VORARLBERG AND AUSTRIA

Unemployment Rate 2020* Economic growth 2000 - 2020 5% Upper Austria 6.5%

Salzburg 7.3% 3%

Vorarlberg 7.7% 1% Tyrol 8.1%

Styria 8.4% -1% Burgenland 9.4%

Lower Austria 9.4% -3%

Austria* 9.9% -5%

Carinthia 11.3%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018 2019 Vienna 15.1% 2020 Vorarlberg Austria 0% 2% 4% 6% 8% 10% 12% 14% 16%

*Austrian calculation method

Source: www.wko.at, July 2021

19 REAL ESTATE OVERVIEW

REAL ESTATE IN EUR/M² State capital 2020 2019 % Salzburg 942 913 3.2% Innsbruck 915 876 4.5% Vienna 664 627 6.0% Bregenz 610 588 3.6% Linz 358 341 4.9% Graz 269 251 7.2% Eisenstadt 200 197 1.3% Klagenfurt 190 181 5.4% St. Pölten 127 115 10.7% ÖSTERREICH 282 266 6.1%

AUSTRIA: Average price per square meter EUR/m2 2020 2019 % Building plots 282 266 6.1 As good as new rental apartments / rent 7.9 7.7 3.0 Condominium first occupation 2,771 2,706 2.4 Used condominiums 1,761 1,695 3.9 Row houses 1,822 1,767 3.1 Single family houses 1,956 1,914 2.2 Office space / Rent 8.4 8.2 2.0 Business premises / Rent 11.6 11.5 1.0 Business premises / Purchase 149 142 4.7

Source: www.wko.at / WKO Immobilienspiegel, March 2021 20 DEVELOPMENT OF THE REAL ESTATE MARKET VORARLBERG

PROPERTY IN BREGENZ* PROPERTY IN FELDKIRCH*

PROPERTY IN DORNBIRN* PROPERTY IN BLUDENZ*

* Suitable building plots in residential areas (building residential area, mixed building area) The bandw idth represents the price range betw een the average and the very good for development w ith single-family or semi-detached houses. Exceptions are especially location. The figures are in euros per square meter of floor space. popular/exclusive residential areas.

Source: Hypo Immobilien Leasing: target prices 2021 Vorarlberg 21 DEVELOPMENT OF RESIDENTIAL PROPERTY PRICES

Change in per cent. Q1 21 Q4 20 Q3 20 Q2 20 2020 2019 2018 2017 2016 Austria +12.3 +10.0 +9.5 +5.2 +7.0 +3.9 +6.9 +3.8 +7.3 Austria excl. Vienna +14.0 +10.7 +9.7 +6.8 +7.5 +2.6 +8.5 +4.9 +9.1 Vienna +10.9 +9.4 +9.4 +4.1 +6.7 +4.9 +5.2 +1.5 +3.8

Development residential property prices in Austria (Index 2000=100) 280

240

200

160

120

80 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Vienna Austria (without Vienna) Austria

Source: Data Science Service GmbH (DSS), TU Vienna, Prof. Feilmayr, OeNB

22 POSSIBLE IMPACT OF THE COVID-19 PANDEMIC ON THE AUSTRIAN REAL ESTATE MARKET

▪ The trend towards stronger increases in real estate prices, which could already be observed in the course of 2020, continued at the beginning of 2021. In addition to single-family houses, prices were also driven up by new condominiums. The assumption made in spring 2021 that the higher price increases since the outbreak of the pandemic are likely to be related to the lockdowns and increased home offices seems to be confirmed.

▪ As a result of the containment measures, demand on the rental market for apartments has declined, according to information from the real estate sector. The extent to which the corona crisis will be reflected in the development of future rental prices for private households cannot yet be estimated at present.

▪ The commercial real estate market is comparatively more strongly determined by economic developments than the private residential real estate market. Especially in the areas of gastronomy, tourism and trade, the demand for real estate is decreasing.

▪ In the case of commercial rental space, it is to be expected that increasing opportunities for home offices will continue to lead to declines in demand and thus to a reduction in rental prices - with corresponding consequences for landlords.

▪ The demand for residential real estate across the various price segments remains strong during the COVID-19 pandemic and shows a stable development of the real estate market in Austria.

Source: Oenb, Immobilien aktuell – Österreich Q2/21, June 2021

23 OUR 04 BUSINESS DEVELOPMENT

PIZ BUIN – PIZ PALÜ (CH)

24 BRANCH AND REGIONAL DISTRIBUTION OF LOANS

Business Segments Regions

Consumer / Private customer (~28%) Vorarlberg (~41%) Real estate (~15%)

Service (~11%) Austria excl. Vorarlberg core market (~33%) Public sector (~11%) Austria excl. Vorarlberg non- core market (~4%) Holding companies (~9%) Germany core market (~10%) Tourism (~6%) Germany non-core market Trade (~6%) (~3%) Construction industry (~5%) Switzerland/Liechtenstein (~8%) Liberal professions (~3%) other (~2%) Other (~2%)

Source: Semi-annual report as of June 2021

25 TOTAL ASSETS AND RESULTS OF ORDINARY BUSINESS ACTIVITIES

Results of ordinary business activities Total Assets (in bln EUR) (in million EUR) 15.3 15.3 174

14.5 121 118 14.2 14.1 96 95 92 14.0 13.9 13.8 54 49 49 46 13.3 13.2

2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021

Source: Semi-annual report as of June 2021

26 COST-INCOME-RATIO AND NPL RATIO

Cost-Income-Ratio NPL ratio in % of the maximum risk of default

3.47% 61.2% 55.3% 55.3% 59.4% 53.2% 51.2% 45.3% 1.99% 1.84%

1.40% 1.51% 1.42% 1.50%

2015 2016 2017 2018 2019 2020 Q2 2021 2015 2016 2017 2018 2019 2020 Q2 2021

Source: Semi-annual report as of June 2021

27 BUSINESS SEGMENT DEVELOPMENT

Earnings before taxes (in mln EUR) PRIVATE CORPORATE CUSTOMERS CUSTOMERS NUMEROUS DEFERRALS STABLE DEVELOPMENT 25.9 IN THE FIRST QUARTER 23.3 DESPITE CONSERVATIVE 22.3 VALUATIONS

3.6 2.5 1.6

-1.0

-9.6 TREASURY / CORPORATE Corporate Private Customers Financial Markets Corporate Center FINANCIAL Customers CENTRE MARKETS POSITIVE RESULT Q2 2020 (EUR 22.4 mln) Q2 2021 (EUR 46.2 mln) POSITIVE EFFECTS FROM NET INTEREST INCOME

Source: Semi-annual report as of June 2021

28 OUR 05 SUSTAINABILITY

Furkajoch, Vorarlberg

29 TOP PERFORMANCES ARE OUR MOTIVATION

1 MLN EUR SUPPORT FORTHE REGION* OVER 1ST AUSTRIAN BANK WITHA 800 GREEN 1,400 EMPLOYEES (GROUP) BOND DREAM HOMES* LARGEST TARGET: SINGLE BANKING INSTITUTION IN VORARLBERG 1% CO2 REDUCTION* 100 EVENTS* OVER 80 % 60PARTNERSHIPS OF THE „TOP 100“- OF CULTURE, ART, COMPANIES IN SPORTS AND VORARLBERG TRUST IN SOCIAL AFFAIRS 120 OUR KNOW HOW YEARS

* PER YEAR

Source: Semi-annual report as of June 2021 30 OUR PATH TO SUSTAINABILITY 2013 2016 2018 2020 2021 Founding member ▪ Definition of CO2 Guidelines for sustainable ▪ CHF Green Bond ▪ Adaptation of the Green "Climate Neutrality reduction target Procurement ▪ Project “Sustainable Bond Framework to the Alliance 2025” ▪ Own position in the field Finance" with external EU Taxonomy of sustainability support ▪ Review of the draft of the ▪ Installation of photovoltaic ▪ Second stakeholder EU Green Bond Standard systems survey ▪ Working group for the harmonization of Austrian impact reporting 2014 Start of sustainability 2017 2019 (donation fund, ▪ 1st Austrian bank with a Expansion of exclusion purchase of hybrid/e- green bond criteria in asset cars) ▪ Exclusion criteria in core management business ▪ First sustainability report (2016) ▪ First stakeholder survey ▪ ISS ESG rating: C (prime range)

TODAY

31 IMPLEMENTATION OF THE EU-ACTION PLAN

▪ ESG risks and impacts are measured at product and company level ▪ Disclosure Regulation: In Asset Management, the investment strategy is adjusted to be compliant with Article 8 (light green products) of the Regulation ▪ Sustainability risks have already been taken into account in the 2021/22 risk strategy (FMA Guideline for Sustainability Risks)

▪ Consideration of ESG factors in the lending process: Future identification of borrowers with directly or indirectly increased risks associated with ESG factors ▪ Implementation of the Taxonomy Regulation ▪ Publication of the Green Asset Ratio (GAR) from 2024 (retroactive to 2023) ▪ Ensuring sustainability preferences in product design and customer advice ▪ Sustainability preferences must be included in suitability test and suitability report

32 A RELIABLE FOUNDATION

Economic sustainability: Ecological awareness: Social participation: ▪ Credit products (climate-, ▪ Conscious planning of our ▪ Sponsorings: Bregenz lifetime- and live value loan) own carbon emissions Festival, Hypomeeting

▪ Sustainable investment ▪ CO2 minimum reduction: 1% ▪ Hypo-Vital to support the products (own Green Bond, activities of employees ▪ Preferably climate neutral terrAssisi, etc.) investments in buildings ▪ Endowment fund ▪ Green Investor „Hypo for Vorarlberg“ ▪ Sensitization of employees concerning the use of energy, paper and water

33 SUSTAINABILITY RATINGS

ISS-ESG DZ CACHET

01/2021

Hypo Vorarlberg Bank AG

34 A BANK FOR OUR REGION

35 A BANK FOR OUR REGION

250 MLNEUR 100 FOR SUSTAINABLE PRODUCTS EVENTS*

* PER YEAR

MLN EUR 60PARTNERSHIPS OF CULTURE, SUPPORT1 FOR THE ART, SPORTS AND SOCIAL REGION PER YEAR AFFAIRS

36 OUR VALUES

37 REGULATORY 06 REQUIREMENTS

GÖTZIS

38 DEVELOPMENT OF TOTAL CAPITAL RATIO AND CET1

Total capital ratio CET1 Ratio

18.0% 17.8% 17.9% 17.8% 18.0% 16.5% 14.6% 14.8% 14.7% 14.1% 14.3% 14.6% 13.2% 11.2%

2015 2016 2017 2018 2019 2020 Q2 2021 2015 2016 2017 2018 2019 2020 Q2 2021

Source: Semi-annual report as of June 2021

39 CAPITAL: BASEL III

Risk Weighted Assets and Capital Ratios

8,640 8,274 8,226 8,456 8,477 7,977 7,779 7,833 7,756 7,398 7,326 7,650 7,544 7,377

mln mln EUR 18.01% 17.79% 17.85% 17.81% 17.96% 16.52% 15.03% 15.36% 14.82% 12.68% 13.03% 12.72% 13.27% 11.30% 14.82% 15.21% 14.66% 14.92% 15.20% 13.33% 11.17% 10.28% 9.82% 8.66% 8.70% 9.30% 7.48% 8.15% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 RWA Tier 1 Ratio Total Capital Ratio in TEUR 30.06.2021 31.12.2020 in TEUR 30.06.2021 31.12.2020 Common equity tier 1 capital (CET1) 1,238,318 1,239,951 Surplus of common equity tier 1 capital 856,835 850,923 Additional tier 1 capital (AT1) 50,002 50,003 Tier 1 capital ratio 15.20% 14.92% Tier 1 capital 1,288,320 1,289,954 Surplus of tier 1 capital 779,675 771,250 Tier 2 capital (T2) 234,343 249,973 Total capital ratio 17.96% 17.81% Own funds 1,522,663 1,539,927 Surplus of total capital 844,470 848,321 Common equity tier 1 capital ratio (CET1) 14.61% 14.34%

Source: Semi-annual report as of June 2021 40 CAPITAL REQUIREMENTS

20% 17.96% 18%

Headroom: 16% 15.20% 14.61% 4.15% Countercyclical buffer 0.01% 14% System risk buffer Headroom: 0.50% Headroom: 4.09% 12% 2.50% 4.09% 0.01% Capital conservation buffer 0.50% (fully loaded) 10% 0.01% 2.50% 2.80% 0.50% SREP 8% 2.50% 2.10% 13.81% 6% Capital requirements (Basel III) 11.11% 1.58% 9.09% 4% 8.00% 6.00% 2% 4.50%

0% CET 1 T 1 Total capital

Source: Semi-annual report as of June 2021 41 REGULATORY KEY FIGURES

MINIMUM TARGET 13 % AND 16 %

COMMON ASSETS EQUITY TIER 1 CAPITAL 2,101 EUR MLN 14.61% JAHRE TOTAL CAPITAL RATIO

INFLOWS 17.96% LCR 251 EUR MLN NSFR 169% NET STABLE FUNDING RATIO 121.02% 7.90% OUTFLOWS LEVERAGE RATIO 1,494 EUR MLN

Source: Semi-annual report as of June 2021

42 MREL-REQUIREMENT AFTER FMA‘S MREL DECISION

current MREL vs. MREL -target

48.77% MREL decision as of 18.06.2020 31.12.2019 Risk weighted assets (TREA) 8.456 bln Total exposureAssets (TLOF) measure according to Art 429 (4) CRRII 13.473 bln (LRE) 14.689 bln MREL-target (TREA) 1.908 bln 28.08% MREL-target in % LRE (LLA + RCA) 5.90% MREL-target in % TREA (LLA + RCA + MCC) 22.56% 22.56% current MREL 4.124 bln current MREL in % LRE (LAA + RCA) 28.08% current MREL in % TREA (LLA + RCA + MCC) 48.77%

5.90%

TLOF TREA

CURRENT MREL MREL TARGET

Source: ow n diagram, FMA MREL decision as of 24.06.2021 based on annual results as of Dec 2019

43 MREL REQUIREMENTS

Application ”Informative MREL Target“ ofthe SRB to the Hypo Vorarlberg:

Capital Requierements 30.06.2021 P1 8.00% P2R 2.80% CBR 3.01% SRB 0.50% CCB (fully loaded) 2.50% Risk weighted assets 8.456 bln Capital resources 1.523 bln

Capital Requierements 30.06.2021 Informative MREL target 1.908 bln Capital resources 1.523 bln expected MREL eligible liabilities 49.68%

Source: Semi-annual report as of June 2021

44 DEVELOPMENT OF MREL ELIGIBLE DEBT

55% 53% 54% 51% 50% 50% 47% 4,986 4,921 4,725 4,306 4,352 Senior Non Preferred 4,201 4,018

in MLN EUR Senior MREL eligible

Senior

Tier 2

AT1

CET1

MREL in % 2020 2021 2022 2023 2024 2025 2026

2020 2021 2022 2023 2024 2025 2026 MREL in % 51% 47% 50% 50% 53% 55% 54% MREL SURPLUS in % 29% 25% 27% 27% 30% 33% 31%

Source: Ow n diagram, as of August 2021

45 LIQUIDITY 07 AND FUNDING

SCHWARZER SEE

46 REFINANCING STRUCTURE

Capital Market Funding (approx. EUR 6.60 bln) Documentation

DIP (~80%) Stand Alone (~5%) Mortgage Covered Bond (~50%) Senior Unsecured (~36%) Schuldschein (~5%) Registered Bond (~4%) Public Sector Covered Bond (~6%) Wohnbaubank (~3%) Retail Prospectus (~3%) WBB Base Prospectus (~2%) Tier 2 (~5%) Additional Tier 1 (~1%) AT1 Base Prospectus (~1%) Global Loan (~0%) Global Loan (~0%)

Source: Ow n diagram, September 2021

47 FUNDING

Issues by currency Redemptions (in EUR mln)

732 715 622

509

220

2021* 2022 2023* 2024 2025 2026

EUR (085%) CHF (015%) CZK (000%) *excl. EUR 1.3 bln Retained covered bonds USD (000%) JPY (000%)

Source: Ow n diagram, September 2021

48 MATURITIES PER YEAR

Maturities by rank (in mln EUR)

800

732 715 707 700 622

600

509 500 456

400

300

220 220 210 200 159

100 69

0 2021* 2022 2023* 2024 2025 2026 2027 2028 2029 2030 2031

mort. Covered Bonds Senior Unsecured Tier 2 publ. Covered Bonds

*excl. EUR 1.25 bln Retained covered bonds

Source: Ow n diagram, September 2021

49 FUNDING VOLUME PER YEAR

Capital market funding (in mln EUR)

1400

1146 1200 1021 50 1041 3 987 20 1000 45 922 92 50 40 92 418 596 800 734 733 259 414 100 10 600 485

800 423 400 734 288 600 623 500 515 485 200 263 200 25 0 2013 2014 2015 2016 2017 2018 2019 2020 2021

mort. Covered Bond Senior Unsecured Subordinated Additional Tier 1 publ. Covered Bond

Source: Ow n diagram, September 2021

50 DOCUMENTATION TYPES

KANGAROO DEBT ISSUANCE PROGRAMME PROGRAMME ▪ volume: EUR 6 bln ▪ senior, covered, subordinated ▪ all currencies PROSPEKT FÜR ▪ Listing in Vienna, Luxemburg WANDELSCHULDVER- and/or as arranged SCHREIBUNGEN DER ▪ German Law REGISTERED HYPO WOHN- BONDS BAUBANK ▪ Namenschuldverschreibung (Austrian and German Law) ▪ Schuldscheindarlehen (Austrian and German Law) ▪ Namenspfandbriefe

51 FUNDING PLANNING 2021

PRIVATE PLACEMENTS PUBLIC RETAIL OWN FUNDS (EMTN, SSD, NSV) BONDS

PLAIN VANILLA, COVERED BONDS AND PLAIN VANILLA, TIER 2 STRUCTURED BONDS SENIOR UNSECURED IN STRUCTURED BONDS AT1 EUR AND CHF EUR 90 MLN EUR 700 MLN EUR 10 MLN EUR 0 MLN (*149 MLN) (*138 MLN) (*0 MLN) (*0 MLN)

EUR 800 Mio (*288 MLN) (with a possible increase up to EUR 1.3 billion)

Source: Ow n diagram, September 2021 52 TLTRO III

Due to the attractive conditions, the high borrowing allowance and the abundant free ECB collateral, a total volume of EUR 2.8 billion TLTRO III.4 could be drawn upon.

In order to reduce the implicit refinancing risks, early repayments are planned.

2.80 bln

2.30 bln

1.80 bln

1.30 bln

0.80 bln

0.30 bln

unitl June 2022 until Sept 2022 until Dec 2022 until March 2023 until June 2023 until March 2024

Source: Ow n diagram, September 2021

53 RATINGS OF HYPO VORARLBERG

Ratings S&P Moody’s Long-term bank deposits A+ A3 Short-term A-1 P-2 Outlook negative stable Subordinated debt - Baa3

Covered bonds S&P Moody’s Public sector covered bonds - Aa1 Mortgage covered bonds - Aaa CR Assessment - A2 CB Anchor (CRA + 1 notch) - A1 ICH BIN EIN STÖRER UND WERDE Sustainability HYPO VORARLBERG Prime-Rating (C) of ISS-ESG FÜR GANZ KURZE IS IN THE TOP BOTSCHAFTEN SEGMENT OF GENUTZT. AUSTRIAN BANKS

Source: Ow n diagram, September 2021

54 PEER GROUP COMPARISON - RATINGS

public mortgage Outlook Rating Outlook Outlook covered covered Subordinated Subordinated Bank Moody's Moody's valid since S&P S&P Fitch Fitch bond bond Moody's Fitch Erste Bank A2 STABLE 30.04.2018 A STABLE A NEG Aaa WR Baa1 BBB+ BAWAG P.S.K. A2 STABLE 20.04.2017 - - WD - Aaa Aaa Baa2 WD Hypo Vorarlberg A3 STABLE 07.02.2018 A+ NEG - - Aa1 Aaa (P)Baa3 - RBI AG A3 STABLE 03.11.2017 A- NEG WD - Aa2 Aa1 Baa3 - Uni Credit Bank Austria AG Baa1 STABLE 19.07.2019 BBB+ NEG WD - WR WR Baa3 - RLB Vorarlberg Baa1 STABLE 01.07.2015 - - - - - Aaa - - RLB Tirol Baa1 STABLE 01.07.2015 - - - - - Aaa - - Raiffeisenverband Salzburg Baa1 STABLE 01.07.2015 - - - - - Aaa - - RLB Steiermark Baa1 STABLE 01.06.2017 - - - - Aaa Aaa - - RLB Oberösterreich Baa1 STABLE 03.11.2017 - - - - - Aaa - - Hypo Tirol Baa1 STABLE 11.04.2019 A NEG - - Aa1 Aa1 (P)Ba1 - RLB Niederösterreich Baa1 STABLE 03.11.2017 - - - - - Aaa Ba1 - Volksbank Wien AG Baa1 POS 17.10.2017 - - BBB NEG - Aaa Baa3 - Hypo OÖ - - - A+ NEG - - - AA+ - - Hypo NÖ - - - A STABLE - - Aa1 Aa1 - -

*- watch negative WR - withdrawn (P) - provisional

Source: Bloomberg, September 2021

55 MORTGAGE COVER POOL

Overview mortgage cover pool 30.06.2021 Legal Basis: Pfandbriefgesetz

Rating: Aaa

LTV limit: 60% (pursuant to articles of association)

Total bonds outstanding in EUR equivalent: EUR 3,259 mln

Total cover assets in EUR equivalent: EUR 4,508 mln

Nominal surplus cover: 38.4%

Number of loans: 18,435

Number of debtors: 12,258

Average volume of cover assets per loan: EUR 244,562

Total cover assets in foreign currency: 10.26%

Weighted average life (WAL) for cover assets (contractual): 12.20 years

Average LTV (Moody’s definition): 65.98%

NPL Ratio 0.20%

Retained Covered Bond EUR 1,100 mln

Source: Ow n diagram 56 MORTGAGE COVER POOL

Seasoning (consolidated) Location of properties by country

1,165 1,245

875 820 Austria 82%

million EUR millionEUR 404 Germany 16%

≤ 12 months 12 - 36 36 - 60 60 - 120 ≥ 120 months months months months Interest type Property type

variable interests 65% commercial ~47% fixed interests, 1 to 2 years 3% private residential ~51%

fixed interests, 2 to 5 years 4% residential, promoted ~2%

fixed interests, > 5 years 28%

Source: Ow n diagram, June 2021 57 MORTGAGE COVER POOL

Regional distribution of assets in Austria (in mln EUR) 1800

1600

1400

1200

1000

800

600

400

200

commercial residential

Source: Ow n diagram, June 2021

58 PUBLIC SECTOR COVER POOL

Overview public sector cover pool 30.06.2021 Legal basis: Pfandbriefgesetz

Rating: Aa1

Total bonds outstanding in EUR equivalent: EUR 484 mln

Total cover assets in EUR equivalent: EUR 608 mln

Nominal surplus cover: 25.7%

Weighted average life (WAL) for cover assets (contractual): 11.10 years

Number of loans: 395

Number of debtors: 130

Number of guarantors: 33

Average cover asset volume per loan: EUR 1.5 mln

Retained Covered Bond EUR 150 mln

Source: Ow n diagram

59 OUR 08 SUMMARY

Kapelle auf Rellseck, Bartholomäberg

60 SUMMARY

Largest single banking institution in Vorarlberg

Home market in the economically sound Lake Constance region

Well diversified Loan portfolio and stable business development

High profitability in comparison to other Hypo banks – EBT as of 30.06.2021: EUR 46.2 million

Covid-19-related economic crisis will affect all business areas

Solid equity base and sufficient liquidity reserves

Very high credit rating: A+ (S&P) / A3 (Moody’s) / C-Prime (ISS-ESG)

61 OUR 09 CONTACTS

62 CONTACTS HYPO VORARLBERG BANK AG Hypo-Passage 1 6900 Bregenz, Austria T +43 50 414-0 [email protected], COMMUNICATION www.hypovbg.at TREASURY

MAG. (FH) SABINE NIGSCH MAG. FLORIAN GORBACH, MSC Head of Communication & Marketing Head of Treasury T +43 50 414-1107 T +43 50 414-1461 [email protected] [email protected]

FUNDING & INVESTOR RELATIONS

MAG. ALEXANDER BOOR PATRICK SCHWARZ Head of Funding & Investor Relations Funding & Investor Relations T +43 50 414-1491 T +43 50 414-1439 [email protected] [email protected]

MAG. KATHARINA EGLE NADINE WINTER, BA Funding & Investor Relations Funding & Investor Relations T +43 50 414-1517 T +43 50 414-1529 [email protected] [email protected]

ANDREA SCHULER, MSC MAG. LUKAS WIRNSPERGER Funding & Investor Relations Funding & Investor Relations T +43 50 414-1172 T +43 50 414-1449 [email protected] [email protected] 10 APPENDIX

LOCHAU TANNENBACH

64 KEY FIGURES

Balance sheet figures 30.06.2021 31.12.2020 Change Change TEUR in TEUR in % Total assets 15,335,799 15,296,768 39,031 0.3 Loans and advances to banks 253,287 227,250 26,037 11.5 Loans and advances to customers 10,401,321 10,340,227 61,094 0.6 Liabilities to banks 3,119,119 2,844,254 274,865 9.7 Liabilities to customers 5,390,620 5,646,971 -256,351 -4.5 Securitised liabilities 5,204,597 5,186,498 18,099 0.3 Own funds 1,522,663 1,539,927 -17,264 -1.1 thereof Tier 1 capital 1,288,320 1,289,954 -1,634 -0.1 Total capital ratio 17.96% 17.81% 0.15% 0.8

Income statement 2020 2019 Change Change TEUR in TEUR in % Net interest income 98,308 85,191 13,117 15.4 Net fee and commission income 15,945 16,827 -882 -5.2 Administrative expenses -52,310 -51,299 -1,011 2.0 Earnings before taxes 46,198 22,437 23,761 105.9 Consolidated net income 35,136 16,428 18,708 113.9

Corporate figures 2020 2019 Change Change absolute in % Cost income ratio (CIR) 59.36% 63.27% -3.91% -6.2 Return on equity (ROE) 7.53% 3.74% 3.79% 101.3 Employees 719 723 -4 -0.6

Source: Semi-annual report as of June 2021

65 BALANCE SHEET AS OF 30 JUNE 2021 (IN ‘000 EUR)

Assets Total liabilities and shareholders‘ equity 100% 100%

90% Trading assets (0.74%) Negative market values of hedges (0.85%) 80% 95% Other liabilities (0.81%) Other assets (2.46%) 70%

60% 90% Trading liabilities Cash and balances with (0.69%) central banks (9.12%) 50% Shareholders’ equity (8.22%) 40% Financial assets at fair 85% value (7.05%) Financial liabilities at fair 30% value (option) (4.81%) Financial assets at amortized cost (9.12%) 20% 80% Financial liabilities at amortized cost (84.62%) 10%

0% 75% 15,335,799 15,335,799

Source: Semi-annual report as of June 2021

66 CANCELLATION OF DISTRIBUTIONS

FULLY COMPETENT MAXIMUM DISTRIBUTABLE AVAILABLE DISTRIBUTABLE DISCRETIONARY AUTHORITY AMOUNT (MDA) ITEMS (ADI)

The Issuer may, at his full The Competent Authority Cancellation if the distribution Cancellation if the distribution discretion, cancel orders the relevant payment would exceed the MDA payment would exceed the ADI payments of distributions. distribution payment to The cancellation of be cancelled. distribution payments will be definitive and non- Pay-out ratio cumulative. 10% Countercyclical buffer 0.01% 0.50% 721 System risk buffer 8% 2.50% Capital conservation buffer (fully loaded) 6% SREP 1.58%

Capital requirements (Basel III) 4.50% 2%

3.167 6.125% 0% illustrative example of Distributable items in Dividend payed in Illustrative AT1 2018 2018 coupon Source: Ow n diagram MDA distriction

67 SECURITIES PORTFOLIO

By currency (2.65 bln) By current rating (2.65 bln)

AAA (41%) AA+ (21%) AA (5%) AA- (9%) EUR (93.1%) A+ (5%) USD (4.6%) A (7%) CHF (1.5%) A- (5%) GBP (0.8%) BBB+ (3%) BBB (1%) BBB- (1%) < BBB- (1%)

By national economic risk (2.65 bln) By industry (2.65 bln)

Austria (26%) Banks covered bonds (40%) France (16%) Public (25%) Germany (10%) Netherlands (8%) Banks (17%) Belgium (5%) Banks with state guarantee (8%)

Denmark (3%) Development banks (3%) Norway (3%) Banks with guarantor liability (1%) Other (28%) Others (6%)

Source: Semi-annual report as of June 2021 68 PEERGROUP COMPARISON

Return on Equity 2020 Cost Income Ratio 2020

Oberbank 17.80% RLB Steiermark 68.9%

Hypo Niederösterreich 10.61% Hypo Tirol 66.9%

SPK Oberösterreich 6.76% BTV 64.8%

BKS 6.40% SPK Oberösterreich 63.9%

RLB Oberösterreich 4.65% Oberbank 61.6%

Steiermärkische SPK 4.30% Steiermärkische SPK 57.3%

Hypo Vorarlberg 4.07% RLB Oberösterreich 54.2%

RLB Steiermark 4.06% Hypo Niederösterreich 53.3%

BTV 3.10% BKS 53.3%

Hypo Tirol 2.13% Hypo Vorarlberg 51.2%

0% 5% 10% 15% 20% 0% 10% 20% 30% 40% 50% 60% 70% 80%

Source: Ow n diagram, Annual reports as of December 2020

69 CHF-BOND ISSUES

CHF-Bond Issues (in mln CHF)

1000

900

800

700

600

500

400

300

200

100

0 1994 1995 1996 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2009 2010 2011 2013 2016 2017 2018 2019 2020 2021

Since 1930 Hypo Vorarlberg is a frequent issuer in the swiss capital market.

Source: Ow n diagram, September 2021

70 OUTSTANDING CHF-BONDS

Rank Value Date Maturity Volume in CHF CHF 150 million 0.125% Fixed Rate Bonds due October 2021 senior 06.10.2016 06.10.2021 215,000,000 CHF 125 million 0.450% Fixed Rate Bonds, due March 2024 senior 05.03.2018 05.03.2024 125,000,000 CHF 100 million Fixed Rate Mortgage Pfandbriefe due 12 November 2025 covered 12.11.2018 12.11.2025 100,000,000 CHF 26 Mio 30NC10 Covered Bond 2018-2048 covered 06.12.2018 06.12.2048 26,000,000 CHF 100 Mio 1,625% Nachrangige Schuldverschreibungen fällig 29. November 2029 subordinated 29.11.2019 29.11.2029 100,000,000 CHF 150mm 10yr senior unsecured Notes senior 03.09.2019 03.09.2029 230,000,000 CHF 125 Mio Hypo Vorarlberg Green Bond 2020-2030 senior 27.03.2020 27.03.2030 125,000,000 CHF 150 million Senior Preferred Fixed Rate Bonds due August 2028 senior 23.02.2021 23.08.2028 150,000,000

CHF-Bond Redemptions (in CHF mln) 330

215

150 125 125 100

2021 2024 2025 2028 2029 2030 2048

Source: Ow n diagram, September 2021 71 DISCLAIMER

This document w as created by Hypo Vorarlberg Bank AG exclusively for the purpose of giving corporate presentation by Hypo Vorarlberg Bank AG. This presentation may only be show n to business customers and institutional clients.

This document may not be changed or shared w ith third parties w ithout the express consent of Hypo Vorarlberg Bank AG. Anyone in possession of this information or document is obliged to learn about the legal regulations governing possession and sharing of such information and comply w ith those regulations. This presentation may not be shared w ith or transmitted to any country with law s restricting the sharing or transmission of such information.

This presentation is exclusively for general information purposes. It does not represent an offer to conclude an agreement on the provision of investment advisory services or the purchase of securities. Where this presentation cites information not originating from Hypo Vorarlberg Bank AG or not produced at its request, such information has been compiled from sources deemed trustw orthy without being verified. For this reason, Hypo Vorarlberg Bank AG assumes no guarantee that such information is complete or correct. Hypo Vorarlberg Bank AG assumes no responsibility or liability w hatsoever for expenses, losses or damage from or in connection w ith the use of all or part of the information contained in this presentation.

This presentation may contain forward-looking statements concerning future expectations and other forward-looking statements or information about future predictions of developments based on current planning, opinions and/or assumptions. Such statements are made subject to know n or unknow n risks and uncertainties that are generally difficult to predict and beyond the control of Hypo Vorarlberg Bank AG. This may result in material differences between the results, performance and/or events implied in these statements and the actual results posted in the future.

Hypo Vorarlberg Bank AG assumes no obligation to publicly update or revise its forward-looking statements on the basis of new information, future events or for other reasons.

As a company w ithin the meaning of the Global Investment Performance Standards (GIPS©) applies the centralized Asset Management Hypo Vorarlberg Bank AG based in Bregenz. The company covers all asset management mandates of private clients and institutional clients as w ell as those mutual funds that are managed through the centralized investment process of the bank. It does not include decentralized organizational units and other Group units w ith their ow n market presence. The company is in accordance with the GIPS©. A list of all composites and their detailed description can be requested from Hypo Vorarlberg Bank AG on +43 50 414-1281 or by e-mail at [email protected].

Photo credit: Marcel Mayer, Manfred Oberhauser, Peter Mathis, Anja Köhler, Julian Keick, iStock, shutterstock

Hypo Vorarlberg Bank AG, Hypo-Passage 1, 6900 Bregenz, Austria, T +43 50 414-0, www.hypovbg.at

72 THE BEST CONSULTING FOR THOSE WITH PURPOSE. www.hypovbg.at

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