BFF Bank S p A : 2023 - " - Investors Day 2021"

BFF 2023

Investors Day

15th March 2021

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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) Carlo Zanni, 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.

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1. Overview: a bank like no other

4. A sustainable business like no other

2. Our businesses

5. Our financial targets

3. A financial profile like no other

6. Appendix

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A bank like no other® - ''BFF 2023'' Strategy

2019-2023 Business Plan presentation of 29 May 2019

Who

How

Targets to

2021

''BFF 2023''

Leader in specialty finance niches in Europe

• Low risk
• High operational efficiency
• Best practices as public company
• Honest, transparent and valuing people
• Volume and loans growth >10% per annum
• Net Profit growth ~10% per annum on average
• RoTE > 30% with a growing CET 1 ratio
• Total Capital ratio at 15%

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A rock-solid business

Highly capital generative		Sizable Embedded value		No credit losses on P.A.
		factoring
36%				Zero
			on Public sector
Adj. Return on Tangible Equity(1)
		c. €840m		€5.7m(3)
>€650m
			cumulated last 14 years, 0.5% of
Dividends since 2007(2)
			cumulated PBT

Tried and tested in every season

					Adjusted Net Profit(4)						Synergies
						(€m)
												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

1. BFF 2020 adjusted RoTE, excluding 2019&2020 accrued dividends (€168.5m). (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 prospectusand annual accounts.

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