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F Y 2 0 1 8 R e s u l t s March 28, 2019 Table of Contents Pages I. Key Highlights 4 II. Macroeconomic Update 7 III. Q4 18 Financial Performance 11 IV. Asset Quality 20 V. Capital 27 VI. Appendix 29 1. Volumes 29 2. PnL

  1. F Y 2 0 1 8 R e s u l t s March 28, 2019

  2. Table of Contents Pages I. Key Highlights 4 II. Macroeconomic Update 7 III. Q4 18 Financial Performance 11 IV. Asset Quality 20 V. Capital 27 VI. Appendix 29 1. Volumes 29 2. PnL 35 9M 2013 Results FY 2013 Results FY 2018 Results 2 2

  3. Disclaimer This presentation has been prepared and issued by Alpha Bank solely for informational purposes. For the purposes of this disclaimer, this presentation shall mean and include materials, including and together with any oral commentary or presentation and any question and answer session. By attending a meeting at which the presentation is made, or otherwise viewing or accessing the presentation, whether live or recorded, you will be deemed to have agreed to the following restrictions and acknowledged that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of the presentation or any information contained herein. By reading this presentation, you agree to be bound by the following limitations: No representation or warranty, express or implied, is or will be made in relation to, and no responsibility is or will be accepted by Alpha Bank (or any member of Alpha Bank’s Group) as to the accuracy, fairness or completeness of the information contained in this presentation and nothing in this presentation shall be deemed to constitute such a representation or warranty. The information contained in this presentation may contain and/or be based on information that has been derived from publicly available sources that have not been independently verified. Alpha Bank is not under any obligation to update, revise or supplement this presentation or any additional information or to remedy any inaccuracies in or omissions from this presentation. This presentation does not constitute an offer, invitation or recommendation to subscribe for or otherwise acquire securities. Also, it is not intended to be relied upon as advice to investors or potential investors and does not take into account the objectives, financial situation or needs of any particular investor. You are solely responsible for forming own opinion and conclusion. The figures presented have been prepared in accordance with IFRS as adopted in the European Union and applicable at that date, and with prudential regulations currently, in force. Also, Alpha Bank has included certain non-IFRS financial measures in this presentation. These measurements may not be comparable to those of other companies. Reference to these non-IFRS financial measures should be considered in addition to IFRS financial measures, but should not be considered a substitute for results that are presented in accordance with IFRS. Certain statements in this presentation may be deemed to be “ forward- looking” . You should not place undue reliance on such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect current expectations and assumptions as to future events and circumstances that may not prove accurate. Forward-looking statements are not guarantees of future performance, and the actual results, performance, achievements or industry results of Alpha Bank’s operations, results of operations, financial position and the development of the markets and the banking industry in which it operates or is likely to operate may differ materially from those described in, or suggested by, the forward-looking statements contained in this presentation. In addition, even if the operations, results of operations, financial position and the development of the markets and the banking industry in which Alpha Bank operates is consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, competition, changes in banking regulation and currency fluctuations. Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this document reflect Alpha Bank’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Alpha Bank's financial position, operations, results of operations, growth, strategy and expectations. Any forward-looking statement speaks only as of the date on which it is made. New factors will emerge in the future, and it is not possible for Alpha Bank to predict which factors they will be. In addition, Alpha Bank cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward looking statements. Alpha Bank disclaims any obligation to update any forward-looking statements contained herein, except as required pursuant to applicable law. 9M 2013 Results FY 2013 Results FY 2018 Results 3 3

  4. I. Key Highlights FY 2018 Results 4 4

  5. I Business Highlights  Further strengthening of domestic economic activity and improving conditions in labour and real estate markets, supportive of banks’ efforts to clean up balance sheets Supportive macro trends  Market confidence manifested by sovereign debt issuance and rating upgrades allow banks to further engage in international money markets and diversify funding sources  2018 marks the successful conclusion of our Restructuring Plan agreed with the European Commission in 2015  Significant rightsizing of the operating platform in Greece and SEE has been delivered. Costs have been reduced by Restructuring Plan c.25% in the period Completion  Bank has exited from non core geographies and has de-levered by €5.3b n the relevant assets perimeter  The Bank is in the process of updating its strategic ambition along four priority themes:  Accelerate NPE reduction through a combination of organic and non organic measures. Strategy to be informed by evolving sectoral initiatives  Secure “preferred bank” status in target customer segments and improve operating efficiency in its Greek Strategic Update operations  Assess strategic positioning of its international business  Further improve governance, organisational effectiveness and talent management  Asset quality on the top of our priorities. The Bank is targeting a further reduction of NPEs by € 6.3bn in the next 12 months, through a combination of organic deleveraging, portfolio sales and securitizations  Further improvement of our liquidity profile and relevant ratios taking full advantage of our balance sheet and improving Outlook 2019 market conditions  Commercial activity targeting higher loan disbursements to counterbalance impact in top line from NPE deleveraging FY 2013 Results 9M 2013 Results FY 2018 Results 5 5

  6. I Financial Highlights  Pre Provision Income at € 1.4bn, up by 23.1% y-o-y supported by strong trading gains Financial  Impairment losses on loans at € 1.6bn, materially affected by additional impairment recognized Q4 2018 to account for Performance upcoming NPE sales in 2018  PAT at € 53mn for the full year  Loan disbursements of €3.0bn in FY 2018 versus €2.1bn in FY 2017  New loans extended primarily to businesses. Demand for loans to households still subdued Commercial Activity  Group deposits at €38.7bn in December 2018, up by €3.8bn or 11% for the year  NPE stock in Greece down by €3.1bn in 2018, reduced by €5.7bn since 2016  3 capital ratio accretive transactions of c.€3bn BV completed to date Asset Quality 2018  New curing strategies on retail portfolios launched in 2H 2018, with increasing customer engagement. More visible results expected in the latter part of 2019  CET1 ratio at 17.4% as of December 2018  Total CAD at 17.4%, providing a comfortable buffer over our SREP ratio requirements Capital  No CoCos or Tier II included in regulatory capital  ELA eliminated in February 2019 Liquidity  Group LDR at 104% as of December 2018 versus 147% as of December 2015  Repos at €6.4bn as of December 2018, increased by €4.1bn y-o-y FY 2013 Results 9M 2013 Results FY 2018 Results 6 6

  7. II. Macroeconomic Update FY 2018 Results 7 7

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