FinecoBank S p A : Goldman Sachs 27th Annual European Financials Conference

1Q23 Results

Alessandro Foti

CEO and General Manager

Milan, May 9th 2023

FINECO. SIMPLIFYING BANKING.

Disclaimer

• "Pursuant to the paragraph 2 of Article 154 bis of the Consolidated Law on Financial Intermediation (Legislative Decree no. 58 of February 24, 1998), Lorena Pelliciari, in her capacity as manager responsible for the preparation of FinecoBank S.p.A. (the "Company")'s financial reports, declares that accounting information contained in this Presentation reflects the Company's documented results, books and accounting records".
• This Presentation may contain written and oral "forward-looking statements", which include all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, objectives, estimates, forecasts, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of the Company. There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.
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• This Presentation has been prepared on a voluntary basis and, therefore, FinecoBank is not bound to prepare similar presentations in the future, unless where provided by law. Neither the Company nor any of its representatives, directors or employees shall be liable at any time in connection with this Presentation or any of its contents for any indirect or incidental damages including, but not limited to, loss of profits or loss of opportunity, or any other liability whatsoever which may arise in connection of any use and/or reliance placed on it.
• For the above-mentioned purposes, "Presentation" means this document, and any oral presentation, any question-and-answer session and any written or oral material discussed following the distribution of this document. By participating to this Presentation and accepting a copy of this Presentation, you agree to be bound by the foregoing limitations regarding the information disclosed in this Presentation.

2

Agenda

✓Fineco Results

• Next steps
• Fineco international business
• Key messages
• Focus on product areas

3

Executive Summary

Successful growth story: becoming more a Platform than a Bank. Our diversified business model allows us to deliver strong results in every market condition

		Strong net profit and growth of the business…
		◼ 1Q23 adj. Net Profit at 147 mln, +19.1% y/y(1) (+61% y/y excluding 1Q22 Profits
		from Treasury management)
		◼ 1Q23 adj. Revenues at 294 mln, +14.9% y/y(1) mainly supported by Net Financial
		Income (+46% y/y, o/w NII +165%) and Investing (+2% y/y). Brokerage confirmed
		a structurally higher floor vs pre-pandemic levels
		◼ Operating Costs well under control at -73 mln, +6.4% y/y (+4.6% y/y excluding
		costs related to the acceleration of the growth of the business(2)). Strong operating
		leverage confirmed a key strength of the Bank. Adj. C/I ratio at 25.0%
		◼ Net sales in 1Q23 at 2.7 bn, o/w AUM at 1.0 bn. TFA at 112 bn with AuM at 54.1 bn.
		April: Strong net sales at 831 mln, o/w AUM at 267mln (with FAM retail net sales
		at 343 mln) and AUC at 755 mln and Deposits at -191 mln. Brokerage revenues
		estimated at ~12 mln (>10% vs average April revenues in 2017-2019 y/y), very
		solid taking into account the seasonality in the month (lower trading days and
		market volumes)
		… with solid capital and liquidity position
		◼ CET1 ratio at 21.80%,TCR at 32.41%, Leverage ratio at 4.21%
		◼ LCR at 803%(3), NSFR at 377%
		(1) 2022 non recurring items: 1Q22 -0.3 mln gross (-0.2 mln net) due to Voluntary Scheme
4	(2) Excluding costs strictly related to the growth of the business, mainly FAM (-0.9 mln y/y) and marketing (-0.4 mln y/y)
(3) Avg 12 months

(4) Assumptions based on forward rate curve as of May 8th, 2023

FY23 Guidance and going forward: strong growth confirmed

• Expected Net Financial Income for FY23 at around +70% vs FY22(4)
• Expected Investing revenues in FY23 confirmed to increase high single digit vs FY22 with higher after-taxmargins. ManFee margins after tax confirmed at ~55bps in FY24 (pre- tax ~73bps)
• Brokerage guidance confirmed: revenues expected strong with a floor higher vs pre-Covid period
• Operating costs expected in FY23 at +6% vs FY22, not including additional costs for: FAM strategic discontinuity (~2 mln), for UK operational costs (~3 mln), for the expansion in Germany and eventually additional marketing expenses
• Cost of Risk: in a range 5/9 bps in 2023
• Growing CET1 ratio and Leverage ratio

Delivering strong Net Profit in every market condition

Adj. Net Profit at 147.3mln, +19.1% y/y boosted by strong acceleration of Investing, confirming the effectiveness of our initiatives, and Net Financial Income. Strong operating leverage confirmed

	Net Profit, mln
excluding non recurring items (1)		Adj. RoE (2)	Adj. Cost/Income (2)
	+19.1%			+61.1% y/y
	+16.8%	excluding 1Q22 Profits from
		Treasury management
		147.3
123.5	126.1
				Systemic charges:
123.6				1Q23: -6.6 mln (gross)
				1Q22: -7.7 mln (gross)
1Q22	4Q22	1Q23
28%	27%	30%
27%	29%	25%

	Revenues, mln
excluding non recurring items (1)
	+14.9%		+41.5% y/y
	+11.3%	excluding 1Q22 Profits from
	Treasury management
255.4	263.9	293.7
255.7
1Q22	4Q22	1Q23

Operating costs, mln

The yearly increase is mainly linked to costs related to the growth of the business
	+6.4%	1Q23(3): +4.6% y/y
	-4.6%
69.0	77.0	73.4
1Q22	4Q22	1Q23

	(1)	2022 non recurring items: 1Q22 -0.3 mln gross (-0.2 mln net) due to Voluntary Scheme
	(2)	Adj. Cost/Income and Adj. RoE calculated net of non recurring items. ROE has been recasted and is now calculated as annualised adj.net profit divided by average book equity for the period (excl. valuation reserves). Previously it also excluded dividends for which
	distribution is expected.
5	(3)	Excluding costs strictly related to the growth of the business, mainly FAM (-0.9 mln y/y) and marketing (-0.4 mln y/y)