BFF Bank S p A : Fixed Income and 9M 2021 results presentation

BFF Banking Group

Fixed Income and 9M 2021 results presentation

November 2021

bff.com

Disclaimer

This presentation may contain written and oral "forward-looking statements", which includes 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 or assumptions, expectations, 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 BFF Bank S.p.A. (the "Company")

and its subsidiaries (collectively the Company and its subsidiaries, the "Group").

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 futures 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 expect 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.

The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advise or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any State or other jurisdiction of the United States or in Australia, Canada or Japan or any jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form apart

of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries.

Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Claudio Rosi, in his capacity as manager responsible for the preparation of the Company's financial reports declares that the accounting information contained in this Presentation reflects the BFF Banking Group documented results, financial accounts and accounting records.

Neither the Company nor any member of the Group nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.

bff.com

1. BFF at glance
2. Credit fundamentals like no other
3. Appendix

9M 2021 results

bff.com

A bank like no other®

BFF

Who Leader in specialty finance niches in Europe

	▪ Low risk
How	▪ High operational efficiency
▪ Best practices as public company
	▪ Honest, transparent and valuing people

Adj. RoTE	Adj. Net Profit	Total Capital	CET1 ratio
ratio
43%(2)	€79.4m	18.5%
22.9%

Data as of 30th September 2021, unless otherwise specified.

1. Calculated as the ratio between (i) adjusted net profit (on an annualized basis) and (ii) the average "tangible equity" (calculated as shareholders' equity (including the part of the profit for the period which is not distributable),net of intangibleassets. The average "tangible equity" is calculated as the average of the tangible equity as of 31-Dec-2020,31-Mar-2021,30-Jun-2021 and 30-Sep-2021.

bff.com 3

A rock-solid business

Highly capital generative		Sizable Embedded value		No credit losses on P.A.
		factoring
43%				Zero
			on Public sector
Adj. Return on Tangible Equity(1)		c. €790m
>€815m		> 1.9x CET1		€5.7m(3)
		cumulated last 14 years, 0.5% of
Dividends since 2007(2)
			cumulated PBT

Tried and tested in every season

					Adjusted Net Profit(4)					Potential run-rate
						(€m)							synergies
												DEPObank FY20
													19
													adjusted net profit
		43	53		56	47	57	72	87	84	92	99	98	>> Higher profitability
		40
24	28
2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020pf (5)

1. Calculated as the ratio between (i) adjusted net profit (on an annualized basis) and (ii) the average "tangible equity" (calculated as shareholders' equity (including the part of the profit for the period which is not distributable), net of intangible assets. The average "tangible equity" is calculated as the average of the tangible equity as of 31-Dec-2020,31-Mar-2021,30-Jun-2021 and 30-Sep-2021.
2. Including €70.9m of 2019 and €97.6m of 2020 accrued cash dividends.
3. Excluding BFF Polska Group.
4. Normalised and adjusted as reported in IPO prospectus and annualaccounts.

(5) Sum of BFF and DEPObank net income.

bff.com

4