Banca Ifis, in the first nine months of 2026, new lending to SMEs and individuals grew by 23%. The deconsolidation of the Npl business is in its final phase

• Lending to businesses and private individuals come to more than 10 billion Euro, with approximately 400 million Euro in new disbursements in Structured Finance and 300 million Euro in new production in the CQS business in the first nine months of 2026;
• In the first 9 months of 2026, revenues from the Commercial business remained broadly stable compared to the same period of the previous year. The performance of collections from the Npl business remains strong, amounting to 280 million Euro in the period;
• The Bank confirms its net profit guidance of 100-110 million Euro for 2026. This guidance includes approximately 70 million Euro of DTAs and does not include any potential effects related to the sale of the Npl business;
• The competitive process for the deconsolidation of the Npl business is at an advanced stage; binding offers are expected by mid-December 2026;
• The extraordinary items in the first 9 months of the year, which include approximately 72 million Euro attributable to the application of IFRS 5 to the Npl business, resulted in a net loss of 67 million Euro. Net of these items, the result from ordinary operations is positive at 4,6 million Euro;
• CET1 Ratio of 12,8% includes the impact of the value adjustment of the Npl business under IFRS 5 and does not include the potential capital benefits deriving from the deconsolidation of the Npl business;
• Broadly diversified and stable funding. Liquidity of 2,2 billion Euro at end October 2026, essentially unchanged from 30 September 2026, to support the Group’s future funding needs.

illimity Bank will merge into Banca Ifis on 7 December 2026

• Cost synergies of 50 million Euro and revenue synergies of 25 million Euro from 2027 confirmed;
• The merger will strengthen the banking offering for individuals and SMEs.

Consolidated results for the first nine months of 2026
Reclassified consolidated data[1] – 1 January 2026/30 September 2026

• In the first nine months of 2026, Banca Ifis’ net profit from ordinary operations amounted to 4,6 million Euro. During the period, the Bank recognised extraordinary items, bringing the net loss for the first nine months of 2026 to 67 million Euro. The figure includes approximately 72 million Euro of impairment losses on the Npl business, in line with the requirements of IFRS 5, which provide for the classification of the Npl business as a discontinued operation in view of the advanced stage of the divestment process, for which non-binding offers have already been received and binding offers are expected by mid-December 2026. Consequently, the business was measured at the lower of carrying amount and fair value less costs to sell.
• Net banking income totals 571,0 million Euro, driven by net interest income of 391,8 million Euro, net fee and commission income of 99,0 million Euro, and income from trading activities and other income of 80,3 million Euro. The performance was supported by the contribution of Banca Ifis’s Commercial business, the financial portfolio management and the illimity turnaround. Revenues in the Npl Segment reflect the disciplined approach adopted by the Bank in recent quarters in the acquisition of new Npl portfolios, also in view of the impact of the regulations on calendar provisioning. Operating performance continues to confirm the platform’s recovery capacity, with collections amounting to approximately 280 million Euro in the first nine months of 2026.
• The credit cost for the period is 115,0 million Euro and includes the activities carried out by the Bank to improve its risk profile. The figure also includes adjustments and provisions attributable to the results of the audit activities initiated following the inspection conducted by the Supervisory Authority.
• Total operating costs in the first nine months of 2026 amounted to 435,9 million Euro, of which 173,5 million Euro related to personnel costs and 247,7 million Euro to other administrative expenses. Cost synergies will become apparent from 2027, following the completion of the integration process and the full implementation of efficiency initiatives, including the streamlining of operational structures, information systems and administrative expenses.

• The liquidity position, at 30 September 2026, is equal to approximately 2,2 billion Euro in reserves and free assets that can be financed by the ECB (LCR approximately 411%).

Capital requirements

• The CET1 is 12,8% (13,0% at 31 December 2025) and the Total Capital Ratio is 17,7% (15,3% at 31 December 2025). These indicators are calculated including adjustments to the Npl business arising from the application of IFRS 5.
• During the third quarter of 2026, the Banca Ifis Group received notice from the Bank of Italy of the initiation of the Supervisory Review and Evaluation Process (SREP). The procedure will be completed by the end of December; by that time, the Group may submit further documentation that the Authority may assess with a view to possibly changing the minimum capital levels required. The new capital requirements will therefore be applied as of 31 December 2026, which is the first effective date following the completion of the procedure.

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Rome, 11 November 2026 – The Board of Directors of Banca Ifis met today under the chairmanship of Ernesto Fürstenberg Fassio and approved the consolidated results for the first nine months of 2026.

“In the first nine months of 2026, we accelerated the transformation process that will see Banca Ifis focus on SMEs and private individuals through an ever-broader range of financial products and services. The illimity integration project is reaching its final phase: we have completed the enhancement of non-core assets and focused on business lines that are synergistic for the Group. The work carried out in recent months has been based on cost-reduction and revenue-base expansion initiatives, new partnerships established with leading technology partners, and the integration of people’s skills. The merger by incorporation of illimity Bank into Banca Ifis, scheduled for 7 December, is proceeding in line with the announced timetable and will enable us to realise annual synergies worth 75 million Euro from 2027 onwards. The growth in new lending to SMEs and individuals, which exceeds 20%, demonstrates our ability to support the real economy. On this basis, we are working to complete the process of optimising and deconsolidating the Npl business and to prepare the business plan that we will present to the market early 2027”, says Raffaele Zingone, CEO of Banca Ifis.

Banca Ifis’s Commercial & Corporate Banking Segment, which does not include the contribution of the illimity Group, generated total revenues of 248,0 million Euro during the period, confirming its position as the main pillar of Banca Ifis’s business model. Loans and advances amount to 7,5 billion Euro, supported by a broad and diversified customer base. The Factoring Area remains the main source of revenue, at 114,5 million Euro, supported by the Corporate Banking & Lending Area (83,8 million Euro) and the Leasing Area (49,7 million Euro), which continue to demonstrate resilient operating performance. Overall, this Segment demonstrates stable volumes, high-quality loans, and a strong focus on SMEs.

The revenues of Banca Ifis’s Npl Segment for the first nine months of 2026, amount to 131,0 million Euro. Collections from recovery activities, excluding portfolio sales, amounted to approximately 280 million Euro. This figure demonstrates the strong effectiveness of both judicial and extra-judicial recovery activities and confirms the operational resilience of the Npl platform, even in a context of greater selectivity in acquisitions and the gradual repositioning of the business.

A robust and diversified funding strategy, supported by a variety of funding sources and a high degree of flexibility in managing financial maturities. Future bond maturities can be managed through a balanced mix of funding sources, including: asset securitisations (including the 300 million Euro Cap.Ital.Fin. transaction), retail funding through Rendimax, and secured funding transactions with institutional counterparties.

The Banca Ifis Group’s gross and net core originated Npe ratios as at 30 September 2026 relating to receivables due from customers are 7,5% and 5,3% respectively, an increase compared to 7,4% and 4,9% as at 30 June 2026 due to the reclassification to Npe of certain exposures in the Ifis portfolios as a result of the internal audit and on-site inspection conducted by the Bank of Italy at Banca Ifis, and the impairment of specific exposures in the illimity and B-ilty portfolios. It should be noted that B-ilty’s exposures are 80% covered by the state guarantee.

A comprehensive plan is underway to improve the Group’s asset quality, which also includes selective disposals of non-performing loans.

The asset quality ratios are calculated excluding loans in the Npl Segment, government securities measured at amortised cost and impaired financial assets acquired or originated (POCI), or with them as underlying assets, either for business purposes (e.g. for the relaunch and optimisation of companies in temporary difficulties) or emerging as a result of business combinations. Similarly, portfolios with underlying contract disputes that arose as a result of business combinations were excluded from the calculation of ratios because they did not fit the Group’s business model.

Banca Ifis and its commitment to sustainability

Banca Ifis integrates sustainability into its strategies and business model, applying it in the environmental, social and governance dimensions. In the first half of 2026, the Group took a further step forward in its ESG journey by adhering to the Principles for Responsible Banking (PRB) promoted by the United Nations and the United Nations Global Compact (UNGC), among the main global initiatives for the promotion of a sustainable and inclusive economy. Banca Ifis’s commitment, also strengthened by the expertise incorporated with the acquisition of illimity Bank, is also recognised by the main international ESG rating agencies. MSCI has confirmed the Bank’s ESG rating of AAA, the highest level on its rating scale, which is awarded to a limited number of financial institutions globally. The rating, which has improved for two consecutive years, confirms the Group’s position among the international leaders in sustainability. Banca Ifis also received a rating of B from CDP (on a scale of F to A), confirming the attention paid to environmental and climate issues. In addition to these results, for the second year running, the Bank was awarded the Best European ESG Programme in the Specialty Finance segment by Extel Institutional Investors.

The awards obtained are the result of a strategy that focuses on the generation of shared value. Kaleidos, the Social Impact Lab created on the initiative of Chairman Ernesto Fürstenberg Fassio to promote social, cultural and support projects for territories and communities, is part of this context. Since its establishment, Kaleidos has implemented more than 90 social initiatives. In order to objectively measure the value produced by these interventions, Banca Ifis has developed, together with Triadi, a spin-off of the Polytechnic University of Milan led by Professor Mario Calderini, a proprietary model for assessing social impact. The application of the model to the initiatives implemented by Kaleidos showed that every euro invested by the Bank generates an average of 5,2 Euro of social value.

The Group’s social commitment is also expressed in expanding the enjoyment of culture among the general public, through the work of Ifis art. The heart of Ifis art’s projects is the Villa Fürstenberg International Sculpture Park, the 27-hectare museum space open to the public free of charge every Sunday. The Bank has also started a collaboration with Treccani to launch “Migrant Child. Diritti all’opera”, a project that will involve lower secondary school students with the aim of promoting reflection on the topics of art, citizenship and rights.

^[1] For more information on the reclassifications and aggregations of the balance sheet and income statement, please refer to the section “Reclassified Financial Statements and Key Balance Sheet Figures” in this document.