Slides
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Half-year 2025 results presentation 23 July 2025 Zurich
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Important Legal Disclaimer 23 July 2025EFG International I Half-year 2025 results Page 2 This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG. Some of the information presented herein is based on third party sources, and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or any other information or opinions contained herein, for any purpose whatsoever. This presentation contains specific forward-looking statements that reflect EFG’s intentions, beliefs or current expectations, targets and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward - looking statements by using the words “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “seek”, “plan”, “predict”, “continue”, "target", "ambition" and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous. These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this presentation and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward -looking statements are based, except as required by applicable law or regulation. Statements contained in this presentation regarding past trends or events should not be taken as a representation that such trends or events will continue in the future Alternative performance measures and Reconciliations: This presentation and other communications to investors contain certain financial measures of historical and future performance and financial position that are not defined or specified by IFRS, such as “net new assets”, “Assets under Management”, “revenue margin”, “operating profit”, “cost/income ratio”, “Liquidity Coverage Ratio”, “Loan/deposit ratio”, "Return on tangible equity". These alternative performance measures (APM) should be regarded as complementary information to, and not as a substitute for the IFRS performance measures. The definitions of APM used in this presentation and other communications to investors, are provided in the section headed “Alternative performance measures” of the Half-year report 2025 available at www.efginternational.com/ch/investors/financial -results
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Highlights Giorgio Pradelli Chief Executive Officer01
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Consistent performance and progress toward 2025 ambition 23 July 2025EFG International I Half-year 2025 results Page 4 5.4 NNA, in CHF billion 6.5% NNA growth rate 221 +36% Net profit, in CHF million 24.4 RoTE, in % Strong growth momentum above target range, illustrating continuously strong business development despite volatile and uncertain market environment Organic growth complemented by strategic acquisitions: Over the last 18 months we have generated NNA of over CHF 15 bn and are adding more than CHF 10 bn via M&A transactions Record net profit and RoTE above target range, additionally supported by contribution from insurance recovery Continued progress in de-risking and resolution of legacy issues Strong organic capital generation and attractive returns to shareholders Deployment of excess capital for value-accretive acquisitions: Cité Gestion in Geneva, CH and Investment Services Group (ISG) in Auckland, NZ 15-18% target range
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02 Financial performance Dimitris Politis Chief Financial Officer & Deputy CEO
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Record profitability of CHF 221.2 mn in 1H 2025 23 July 2025EFG International I Half-year 2025 results Page 6 Consistent delivery towards financial targets Evolution of IFRS net profit in CHF mn 34.8 106.5 100.3 147.6 162.8 175.8 45.4 1H231H20 1H24 1H251H22 97 104 97* RoAuM (bps) 19.2% 24.4% 19.4%* RoTE (in %) Reported net profit up 36%, net profit adjusted for insurance recovery grew 8% year on year Continued to create operating leverage ‒ Revenues* up 7% year on year, reflecting substantially higher net commission income, stable NII and higher net other income ‒ Operating expenses up by 4% year on year ‒ Reported CIR at 66.7%, adjusted CIR at 71.2%*, compared to 72.9% in FY 2024 Reported RoTE of 24.4%, adjusted for insurance recovery at 19.4%*, both well above 2025 target range Key highlights 72.6% 66.7% 71.2%* CIR (in %) 1H21 77 5.0% 87.2% 76 14.0% 74.6% 73 12.7% 78.1% 100 17.8% 72.1% * excluding positive net contribution from previously announced insurance recovery 221.2 +36% +8%
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Continued growth momentum and resilient topline 23 July 2025EFG International I Half-year 2025 results Page 7 Business development +6.5% NNA growth 104 bps 97 bps* Revenue margin +35 CROs Hired, signed & approved in 1H25 Profitability Capital & Liquidity 15% 7%* Revenue growth vs. 1H24 66.7% 71.2%* Cost-income ratio, down -1.7 pp* vs. FY 2024 221.2 mn 175.8 mn* Net profit in CHF, up 36% / 8%* vs. 1H24 Revenue-generating AuM, in CHF bn 162.3 bn Return on tangible Equity, in % 24.4% 19.4%* +290 bps Gross capital generation 255% LCR 20.6% Total capital ratio CET1 capital ratio, in % (Basel 3 Final fully adopted) 17.1% * excluding positive net contribution from previously announced insurance recovery
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Financials summary 23 July 2025EFG International I Half-year 2025 results Page 8 1H25 1H24 Variation vs. 1H24 Revenue-generating AuM (bn) 162.3 159.3 +1.9% Net new assets (bn) 5.4 5.2 +3.8% Net new assets growth rate (%) 6.5% 7.3% -0.8 pp Revenue margin (bps) 104 97 +7 bps Operating income (in CHF mn) 853.9 743.8 +14.8% Operating expenses (in CHF mn) 573.6 549.4 +4.4% Operating profit (in CHF mn) 280.3 194.4 +44.2% Profit before tax (in CHF mn) 270.1 193.9 +39.2% Net profit (in CHF mn) 221.2 162.8 +35.9% Cost/income ratio (%) 66.7% 72.6% -5.9 pp Return on tangible equity (%) 24.4% 19.2% +5.2 pp Basic EPS (CHF) 0.71 0.51 +39.2% Diluted EPS (CHF) 0.69 0.49 +40.8% CET1 ratio (%) 17.1% 17.5% -0.4 pp CROs 694 707 -13 FTEs 3,068 3,118 -50
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Financials summary 23 July 2025EFG International I Half-year 2025 results Page 9 1H25 2H24 1H24 Revenue-generating AuM (bn) 162.3 165.5 159.3 Net new assets (bn) 5.4 4.9 5.2 Net new assets growth rate (%) 6.5% 6.2% 7.3% Revenue margin (bps) 104 95 97 Operating income (in CHF mn) 853.9 755.1 743.8 Operating expenses (in CHF mn) 573.6 558.5 549.4 Operating profit (in CHF mn) 280.3 196.6 194.4 Profit before tax (in CHF mn) 270.1 187.5 193.9 Net profit (in CHF mn) 221.2 158.8 162.8 Cost/income ratio (%) 66.7% 73.4% 72.6% Return on tangible equity (%) 24.4% 18.1% 19.2% Basic EPS (CHF) 0.71 0.49 0.51 Diluted EPS (CHF) 0.69 0.46 0.49 CET1 ratio (%) 17.1% 17.7% 17.5% CROs 694 703 707 FTEs 3,068 3,114 3,118
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Consistent delivery in 2023-2025 business cycle 23 July 2025EFG International I Half-year 2025 results Page 10 Cost/income ratio Net new asset growth NNA growth in % 7.3 6.2 6.5 1H24 1H25 4-6% per annum 69% Evolution CIR in % 72.6 73.4 66.7 1H25 Return on tangible equity Revenue margin Evolution RoAuM in bps 97 95 97* 1H24 1H25 85 bps 15-18% Evolution RoTE in % 19.2 18.1 19.4* 1H25 2H24 2H24 1H24 2H24 1H24 2H24 2025 financial targets * excluding positive net contribution from previously announced insurance recovery 104 24.4 71.2*
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Annualised NNA growth of 6.5% in 1H 2025 - Growth supported by both new and existing CROs 23 July 2025EFG International I Half-year 2025 results Page 11 165.5 162.3 ~173 5.4 3.1 (11.7) Dec 24 NNA Market FX Jun 25 NNA growth leversAuM evolution Revenue-generating AuM evolution in CHF bn 0.8 0.7 1.8 1H23 1H24 1H25 Existing CROs in CHF bn New CROs1 in CHF bn 2.2 4.5 3.6 1H23 1H24 1H25 Annualised NNA growth at 6.5% for 1H 2025, exceeding target range of 4-6% AuM decreased by 1.9% in 1H 2025, reflecting strong NNA, positive market and substantial negative FX movements primarily related to weakening of USD Recent acquisitions of Cité Gestion and ISG will add over CHF 10 bn in AuM 1 CROs hired in the respective period and the 2 preceding periods, i.e. since 01 January 2023 for 1H25 Pro forma Cité Gestion & ISG
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23 July 2025EFG International I Half-year 2025 results Page 12 *Including Global Markets & Treasury contribution Regional business development AuM breakdown Growth (in %) 4.6% 9.4% 3.7% 4.7% 14.1% 1.0% Switzerland & Italy Asia Pacific Continental Europe & Middle East UK Latin America EFGAM Funds NNA CHF 5.4 bn Switzerland & Italy Asia Pacific Continental Europe & Middle East UK Latin America EFGAM Funds Revenue-generating AuM CHF 162.3 bn 125 70 96 90 76 50 RoAuM* (in bps) 0.1 1.4 0.6 0.6 1.8 1.0 8.7 20.0 23.8 29.0 37.4 43.5 Switzerland & Italy region continued to grow in target range supported by new (Gstaad, St. Moritz) and existing locations Asia Pacific region with continued strong growth across all locations The UK region grew well within the NNA target range Latin America continues to show strong double-digit NNA growth EFGAM Funds returned to positive NNA performance in 1H25 Strong performance across all regions
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Normalised CRO hiring momentum 23 July 2025EFG International I Half-year 2025 results Page 13 CRO evolution # of CROs CRO additions # of new CROs AuM per CRO AuM per CRO (excl. Shaw and Partners) in CHF mn Performance management process in place for new and existing CROs AuM per CRO decreased by -6% on the back of substantial negative FX impact on AuM in 1H25 470 465 456 223 238 238 2023 2024 1H25 693 703 694 Shaw and Partners 29 29 18 19 16 17 1H24 2H24 1H25 Note: excluding Shaw and Partners and CROs hired in the last 12 months of the respective period 316 313 321 348 328 2022 2023 20242021 Total number of CROs decreased slightly to 694 CROs at end-June 2025 Continued performance management process applied Strategic hiring opportunity in 2023/2024 triggered from market dislocation Return to normalised hiring momentum in 2024 / 1H25 (50-70 CROs per year) CROs Signed & approved 1H25 Note: excluding Shaw and Partners 35
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Stronger and resilient operating income 23 July 2025EFG International I Half-year 2025 results Page 14 Net commission income up 11% year on year, benefitting from higher management fees on the back of higher average AuM vs. 1H24. Commission margin increased by 1 bps vs. 1H24 supported by increased mandate penetration Interest related income (NII and Treasury swap income) was slightly up compared to 1H24 and declined by -10% vs. 2H24 High levels of client activity in foreign exchange transactions and treasury swap income supported net other income 1H25 life insurance contribution of approx. 2 bps, vs. 4 bps in 1H24 Main driver for increase in net other income was related to insurance recovery of CHF 54.5 mn (before tax) Key highlightsIncreasing operating income Operating income in CHF mn 1H24 1H25 Net other income excl. treasury swap incomeNet interest income Net commission income Average revenue-generating AuM (in CHF bn)RoAuM (in bps) Treasury swap income ** combined variation for NII and Treasury swap income 326 342 362 183 201 182 65 79 69 171 134 186 55 97 bps 152.7 bn 104/ 97 bps* 164.5 bn +1%** +11% +15% +9% 755744 23 bps 22 bps 44 bps 22 bps 24 bps 43 bps -10%** +6% +13% +39% 854 95 bps 159.7 bn 17 bps 25 bps 43 bps 9 bps 10 bps 8 bps 2H24 vs. 1H24 vs. 2H24 7 bps Income from insurance recovery * excluding positive net contribution from previously announced insurance recovery
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Revenue margin drivers 23 July 2025EFG International I Half-year 2025 results Page 15 Impact from currencies Going forward Revenue margin evolution in bps – excl. life insurance portfolio & insurance recovery 1 Full annual impact on revenues, static simulation, assuming no change in client behaviour Interest rate sensitivity1 for a 100 bps decrease in interest rates in CHF mn USD GBP CHF EUR -45 43 43 44 25 26 23 9 10 8 16 14 20 1H25 93 Net other income excl. treasury swap incomeNet interest income Net commission income Treasury swap income Organic growth Releveraging Negative contribution expected Positive contribution expected Interest-related income: 31 bps 1H24 2H24 93 95 34 bps 36 bps Structural USD weakness Interest rate cuts Impact from interest rates Impact on cost-income ratio from +/-10% variation in exchange rates vs. CHF +/-2.2% +/-0.4% USD/CHF EUR/CHF
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Commissions driving the sustainable improvement in revenues 23 July 2025EFG International I Half-year 2025 results Page 16 Mandate penetration reached a new high of 64%, driving improvement in recurring revenues Increased share of higher-value products and services: ‒ Advisory AuM and penetration levels trend upwards, continuing to reach record highs ‒ Discretionary mandates AuM and penetration levels are stable, showing strong performance through a period of market volatility ‒ Revenues from structured products on track for four consecutive years of growth ‒ Record YTD assets raised across our Private Markets platform Key highlights and developmentsCommission margin (in bps) 52% 54% 57% 56% 56% 62% 64% 20222019 2020 2021 20242023 Mandate penetration Penetration of advisory, discretionary mandates and funds as % of AuM, excluding loans and IAM business 65-70% 2025 target 20222019* 2020* 2021 20242023 41 44 33 32 33 33 34 12 9 8 10 10 43 Recurring Non-recurring 414045 * Includes both recurring and non-recurring 44 1H25 1H25
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Increase in operating expenses reflects growth investments Cost-to-income ratio improves to 71.2%* 23 July 2025EFG International I Half-year 2025 results Page 17 Strategic investments from 2023 /2024 now fully impacting 1H25 operating expense line: strategic hiring and investments in new locations and technology Higher variable compensation accruals (in part on the back of higher revenues) Other operating expenses decreased by -4% vs. 1H24 despite higher legal and litigation expenses**, reflecting EFG’s disciplined approach to cost management Strengthening of CHF against other currencies impacted CIR by 0.9% (1.7% before hedging strategies) Key highlightsIncrease in personnel expenses reflects growth investment Operating expenses in CHF mn Other operating expensesPersonnel expenses ** Mainly relating to a previously disclosed legacy matter. For further details see note 18 in the Notes to the consolidated financial statements of EFG International’s Half-year Report 2025 394 403 424 156 156 149 1H24 2H24 1H25 CIR 72.6% 3,118 FTEs 550 vs. 1H24 66.7%/ 71.2%* 3,068 559 -4% +8% +4% -4% +5% +3%574 73.4% 3,114 vs. 2H24 * excluding positive net contribution from previously announced insurance recovery
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Active cost management – Simplicity program to exceed target 23 July 2025EFG International I Half-year 2025 results Page 18 Ongoing rigorous cost management efforts Key areas of effort: ‒ Regionalization and centralisation of key processes across Risk, Finance, Operations and IT ‒ Global contract re-negotiation / procurement ‒ Optimisation of Real Estate usage ‒ Improved demand management across IT, communications and general services Simplicity program is expected to deliver further expanded cost savings of CHF 66 mn by 2025 (up 65% from initial scope) Currently level of execution at CHF 63 mn, up from CHF 49 mn at year-end 2024 Key highlightsEvolution of Simplicity program in CHF mn Note: Basis 2021 operating expenses * Dates communicated Initial scope (October 2022)* Enlarged scope (July 2023)* Current level of execution 40 m 60 m Expected delivery by 2025 66 m
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1.2 2.30.2 0.8 18.3 2.9 8.2 1.1 1.0 29.7 1.4 0.9 7.3 Assets Liabilities & Equity Strong balance sheet – Diligently de-risking 23 July 2025EFG International I Half-year 2025 results Page 19 Share buyback of approx. 4.8 mn shares until end-June 2025 to fund employee incentive plans. Repurchase of up to 9 mn shares over the next twelve months to fund variable deferred share-based employee compensation Continued de-risking: divestment of synthetic life insurance portfolio and sale of approx. 22% of the outright portfolio Key metricsBalance Sheet highlights in CHF bn 37.6 bn 37.6 bn Cash & banks Treasury bills Derivatives Financial instruments Loans Goodwill & intangibles Other Due to banks Deposits Derivatives Other financial liabilities* Other Total equity * Including financial liabilities at amortised cost (structured products funding) 30 Jun 2025 31 Dec 2024 CET1 capital ratio (%) 17.1% 17.7% Total capital ratio (%) 20.6% 21.5% RWAs (CHF bn) 9.9 bn 9.3 bn Leverage ratio (FINMA) (%) 5.3% 4.8% Loan/deposit ratio (%) 58% 52% Liquidity coverage ratio (LCR) (%) 255% 242% Net stable funding ratio (NSFR) (%) 178% 187%
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Strong profitability drives capital generation 23 July 2025EFG International I Half-year 2025 results Page 20 Evolution CET1 capital ratio * Includes Basel 3 Final impacts ** Ordinary dividend and AT1 dividend 17.7 17.4 17.1 3.8 2.9 (1.4) (1.1) (0.7) 3.2 (0.3) 3.5 Total Capital Ratio CET1 Capital Ratio Net capital generation 0.4% Total Capital Ratio CET1 Capital Ratio Share buyback P&L plus non-cash items RWA & CTA* Dividend** 30 Jun 2025 Gross capital generation 2.9% 31 Dec 2024 Enhanced return to shareholders 21.5 20.6 AT1 currency impact (timing)*** 30 Jun 2025 20.6 *** Currency revaluation of AT1 instrument, impacting core capital. This reverses upon termination of the instrument
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03 Recent acquisitions of Cité Gestion and Investment Services Group (ISG) Dimitris Politis Chief Financial Officer & Deputy CEO
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Assessment criteria for accretive M&A opportunities 23 July 2025 Page 22EFG International I Half-year 2025 results Acquire market share and/or capabilities in strategic markets where we are already present and realise synergies Ensure transactions with strong cultural fit and complementary organisational elements Consider transactions that will be value accretive (e.g., RoI >10% by year 3) 1 2 3 Key assessment parameters
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Cité Gestion at a glance Pure-play Swiss wealth manager with primary focus on client service excellence; presence across key wealth management hubs in Switzerland (Geneva, Lausanne, Lugano, Zurich) AuM of CHF 7.5 bn as of Dec-24 with sole focus on value-added wealth management services for HNW/UHNW clients High penetration of discretionary and advisory mandates comprising 85% of total AuM as of Dec-24 EFG will create additional value through balance sheet strength, product capabilities and support infrastructure Cité Gestion to remain a separate legal entity; back office alignment over time Capital impact: approx. 110 bps Expected to close in 2H25, subject to regulatory approval Company description 23 July 2025 Page 23 Strategic growth trajectory AuM, in CHF bn Key Figures (FY 2024) 16% CAGR 2016-24 RoA (in bps) C/I RoE FTEs CET1 (%) 111 92% 19.1% 135 16.5% EFG International I Half-year 2025 results 2.3 5.0 7.5 2016 2020 2024 Timeline and expected benefits
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Investment Services Group (ISG) at a glance ISG is a leading Auckland-based investment firm managing assets across its wealth management, funds management and investment platform divisions; seven offices across New Zealand Assets of CHF 3.4 bn as of June 2025; 17 financial advisors ISG has a client-first approach, an entrepreneurial mindset with a clear strategic vision and operates a diversified model EFG’s Australian subsidiary Shaw and Partners agreed to acquire a 75% stake in ISG for NZD 67.5 mn (ca. CHF 32.4 mn) Expected synergies from leveraging established partnerships of Shaw and Partners, enhanced pricing and combined marketing and business development activities Capital impact: approx. 20 bps Transaction has been approved by the regulator and is expected to close in the next few weeks Company description 23 July 2025 Page 24 Strategic growth trajectory Assets, in NZD bn Key Figures (FY 2025, ending March 2025) RoA (in bps) C/I RoE FTEs 43 85% 19% 56 EFG International I Half-year 2025 results 2.1 5.6 7.1 March 2017 March 2021 June 2025 Timeline and expected synergies +27%
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Confident on delivery in 2025 23 July 2025EFG International I Half-year 2025 results Page 25 Entering the last 6 months of the 2023-2025 strategic cycle, with record financial results Priorities for 2H 2025 Business development Revenue margin protection Strict cost and efficiency management 4-6% p.a. 2025 Financial targets NNA growth Cost/income ratio 69% RoTE 15-18% Revenue margin 85 bps Acquisitions of Cité Gestion & ISG Pro forma AuM of approx. CHF 173 bn
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04 Outlook and Priorities Giorgio Pradelli Chief Executive Officer
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We expect the complex market conditions to persist 23 July 2025EFG International I Half-year 2025 results Page 27 Elevated market volatility 0 5 10 15 20 25 30 35 700 750 800 850 900 950 MSCI World CFE-VIX Dec 24 Jun 25 US trade policy and persistent geopolitical tensions boosted volatility Tension expected to ease in 2H25 as markets adapt to the new reality and deregulation becomes prominent Risk of policy mistakes remains high Interest rate cycle -3 -1 1 3 5 7 US Fed ECB SNB Dec 20 Jun 25 in % Unusual divergence in monetary policy between the US and the RoW in 1H25 This should reverse as Fed is expected to start cutting rates again ECB may cut rates once more and SNB rates may have already bottomed Structural USD weakness 0.7000 0.7500 0.8000 0.8500 0.9000 0.9500 1.0000 EUR/USD CHF/USD Dec 22 Jun 25 The USD index fell more than 10% YTD, the worst start of the year in decades USD is burdened by US policy uncertainty and related fiscal concern Expected Fed rate cuts will also weigh on USD Source: EFG’s CIO Office
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Continuous focus on our strategic priorities while we are mindful of challenges ahead 23 July 2025EFG International I Half-year 2025 results Page 28 Structural USD weakness Elevated market volatility Interest rate cycle External factors affecting performance Continue to deliver strong organic growth Increasing share of higher-value products and services to support net commission income Defending net interest income Strict cost discipline and efficiency management Strategic priorities Expected to impact revenues through translation effect going into 2026 Further rate cuts to impact net interest income Client activity dependent on market developments
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23 July 2025EFG International I Half-year 2025 results Page 29 Sustaining profitable growth, achieving scale 2023 - 2025 Strong track record of profitable growth 2019 - 2022 202206 11594 2025 target*2022202120202019 6.8% 13.4% 15-18% Net profit (CHF mn) RoTE ~15% p.a. * Indicative 1H 2025 100 24.4% 1H 2022 Consistent execution and delivery 2023 - 2025 12.7% ~21% p.a. 221 EFG on track to exceed 2025 ambition ** excluding positive net contribution from previously announced insurance recovery 176**
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Well placed for continued sustainable and profitable growth 23 July 2025EFG International I Half-year 2025 results Page 30 On track to exceed 2025 ambition Committed to delivering strong performance in 2026–2028 strategic cycle Record profit and consistent strong growth momentum Investor Day in Zurich on 25 November 2025 to update about future strategic direction, priorities and financial targets
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Page 3123 July 2025 Thank you for your attention.
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23 July 2025EFG International I Half-year 2025 results Page 32
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05 Appendix
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Income statement (IFRS) 23 July 2025EFG International I Half-year 2025 results Page 34 In CHF mn 1H25 2H24 1H24 2H23 1H23 Net interest income 182.0 200.7 182.5 262.6 249.4 Net banking fee & commission income 362.4 341.5 325.5 293.0 294.2 Net other income 309.5 212.8 235.8 150.3 181.2 Operating income 853.9 755.1 743.8 705.9 724.8 Personnel expenses (424.4) (402.6) (393.9) (383.2) (381.6) Other operating expenses (109.2) (113.3) (108.9) (108.3) (106.2) Amortisation of tangible fixed assets & software (35.6) (38.0) (41.8) (33.9) (35.0) Amortisation of acquisition related intangibles (4.4) (4.7) (4.8) (4.7) (4.9) Total operating expenses (573.6) (558.5) (549.4) (530.2) (527.7) Operating profit 280.3 196.7 194.3 175.7 197.1 Impairment on intangible assets other than goodwill - (1.0) (1.3) (2.8) (20.8) Provisions (4.6) (6.4) 1.2 (4.2) (5.1) Loss allowances expense (5.6) (1.7) (0.4) (4.8) (1.9) Profit before tax 270.1 187.5 193.9 163.9 169.3 Income tax expense (48.9) (28.8) (31.1) (8.3) (21.7) Net profit 221.2 158.8 162.8 155.6 147.6 Non-controlling interests 0.0 0.0 0.0 0.0 0.0 Net profit attributable to equity holders of the Group 221.2 158.8 162.8 155.6 147.6 Basic earnings per share (CHF) 0.71 0.49 0.51 0.49 0.45 Diluted earnings per share (CHF) 0.69 0.47 0.49 0.47 0.44
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Balance sheet highlights 23 July 2025EFG International I Half-year 2025 results Page 35 In CHF mn 31 Dec 2024 30 Jun 2025 Cash & banks 8,595 7,313 Treasury bills 1,550 1,414 Derivatives 1,550 996 Financial instruments 9,475 8,163 Loans 17,925 18,302 Goodwill & intangibles 192 191 Other 1,313 1,218 Total assets 40,600 37,596 Due to banks 1,052 855 Due to customers 31,306 29,653 Derivatives 1,400 1,078 Other financial liabilities 3,589 2,933 Other 874 748 Total liabilities 38,221 35,266 Total equity 2,378 2,330 Total equity & liabilities 40,600 37,596 CET1 ratio (%) 17.7% 17.1% Total Capital ratio (%) 21.5% 20.6% Leverage ratio (%) 4.8% 5.3% LCR (%) 242% 255% Loan/deposit ratio (%) 52% 58% Net stable funding ratio (NSFR) 187% 178%
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19% 23% 33% 3% 11% 2% 6% 7% 20% 46% 10% 12% 7% AuM evolution 23 July 2025EFG International I Half-year 2025 results Page 36 7% 19% 47% 10% 12% 6% AuM by asset class AuM by currency 22% 23% 33% 3% 11% 2% 6% Hedge funds Other Cash & Deposits Bonds Equities Structured products Loans CHF 165.5 bn GBP CHF USD AUD Other EUR CHF 165.5 bn in % FY 2024 in % FY 2024 AuM by currency in % 1H 2025 AuM by asset class in % 1H 2025 Hedge funds Other Cash & Deposits Bonds Equities Structured products Loans CHF 162.3 bn GBP CHF USD AUD Other EUR CHF 162.3 bn
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Segmental analysis 1H25 23 July 2025EFG International I Half-year 2025 results Page 37 Performance summary (in CHF mn) Switzerland & Italy Continental Europe & Middle East Americas UK Asia Pacific Investment & Wealth Solutions Global Markets & Treasury Corporate Elimination Total Segment revenues 235.3 115.0 62.2 87.6 105.3 61.6 91.9 95.0 - 853.9 Segment expenses (145.8) (87.7) (55.4) (68.1) (84.1) (60.1) (35.9) (36.5) - (573.6) Total operating margin 89.5 27.3 6.8 19.5 21.2 1.5 56.0 58.5 - 280.3 IFRS net profit 70.9 20.7 5.1 14.5 17.4 1.1 45.2 46.3 - 221.2 AuMs (in CHF bn) 43.5 29.0 20.0 23.8 37.4 58.7 - - (50.1) 162.3 NNA (in CHF bn) 1.0 0.6 1.4 0.6 1.8 0.1 - - - 5.4 CROs 146 97 69 70 312* - - - - 694 Employees (FTEs) 339 236 170 184 330 304 99 1,406 - 3,068 * of which 238 CROs relate to Shaw and Partners
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Segmental analysis 1H24 23 July 2025EFG International I Half-year 2025 results Page 38 Performance summary (in CHF mn) Switzerland & Italy Continental Europe & Middle East Americas UK Asia Pacific Investment & Wealth Solutions Global Markets & Treasury Corporate Elimination Total Segment revenues 236.7 133.0 64.3 104.0 96.1 62.2 12.7 34.8 - 743.8 Segment expenses (135.5) (87.3) (54.1) (70.9) (78.2) (65.2) (26.0) (32.2) - (549.4) Total operating margin 101.2 45.7 10.2 33.1 17.9 (3.0) (13.3) 2.6 - 194.4 IFRS net profit 84.0 38.3 8.4 26.5 15.1 (2.5) (10.9) 3.9 - 162.8 AuMs (in CHF bn) 42.5 28.4 20.6 22.9 35.8 55.4 - - (46.3) 159.3 NNA (in CHF bn) 1.0 0.5 1.5 0.2 2.4 (0.4) - - - 5.2 CROs 142 101 71 77 316* - - - - 707 Employees (FTEs) 338 236 170 206 337 318 91 1,422 - 3,118 * of which 223 CROs relate to Shaw and Partners
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Segmental analysis 2H24 23 July 2025EFG International I Half-year 2025 results Page 39 Performance summary (in CHF mn) Switzerland & Italy Continental Europe & Middle East Americas UK Asia Pacific Investment & Wealth Solutions Global Markets & Treasury Corporate Elimination Total Segment revenues 217.0 123.0 64.5 89.6 100.1 62.8 82.1 16.0 - 755.1 Segment expenses (137.6) (83.3) (54.4) (65.2) (82.0) (75.3) (37.9) (22.8) - (558.5) Total operating margin 79.4 39.7 10.1 24.4 18.1 (12.5) 44.2 (6.8) - 196.6 IFRS net profit 65.4 32.2 8.6 20.4 14.5 (10.5) 36.6 (8.4) - 158.8 AuMs (in CHF bn) 44.0 29.9 20.5 24.2 38.0 60.1 - - (51.2) 165.5 NNA (in CHF bn) 1.3 1.0 0.1 1.0 1.9 (0.4) - - - 4.9 CROs 145 96 72 72 318* - - - - 703 Employees (FTEs) 344 232 173 191 342 316 93 1,423 - 3,114 * of which 238 CROs relate to Shaw and Partners
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Update on Life Insurance Exposures (I) 23 July 2025EFG International I Half-year 2025 results Page 40 Life insurance related portfolios Legacy exposures acquired more than 15 years ago Outright portfolio carried at fair value (marked-to-model, Level 3) for IFRS accounts – small size of portfolio introduces P&L volatility Significant risk in the portfolios due to the impact of longevity (premium payment increasing with age) Assumptions are derived by external life settlement underwriters based on the specific medical history Premium / Cost of insurance risk EFG reached a settlement with Transamerica (2021), John Hancock and AXA (2023) Legal cases against Lincoln progressing with strong legal basis. All claims are proceeding as anticipated by EFG. Based on the current status, EFG remains in a strong position for prevailing in its claims Opportunistic de-risking initiatives Divested entire Synthetic Portfolio in February Sold approx. 22% of the outright portfolio (carrying value) in May/June Initiatives contributed positively to P&L Outright portfolio Year Death benefits received (USD mn) Net Cashflow (USD mn) 2012 73.0 17.8 2013 91.7 22.4 2014 93.2 21.9 2015 52.3 (22.6) 2016 83.6 (5.5) 2017 57.4 (41.9) 2018 117.2 8.8 2019 157.3 38.2 2020 227.9 67.0 2021 304.4 153.0 2022 151.9 26.3 2023 258.6 162.8 2024 252.9 157.6 1H25 53.7 11.6
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Update on Life Insurance Exposures (II) 23 July 2025EFG International I Half-year 2025 results Page 41 Outright portfolio Death benefit: CHF 367.3 mn Carrying value: CHF 256.5 mn 1H 2025 premium: CHF 33.6 mn Operating income CHF 4.1 mn Direct holding of life insurance policies for 74 insureds (2024: 88) of an average age of 95.4 years Life expectancy: 3.3 years Synthetic portfolio Divested Not applicable
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Financial calendar 2025 / 2026 23 July 2025EFG International I Half-year 2025 results Page 42 Event Date Investor Day / 10M business update 2025 25 November 2025 Full-year 2025 financial results 18 February 2026
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Contacts 23 July 2025EFG International I Half-year 2025 results Page 43 Investor Relations Jens Brueckner Head of Investor Relations Phone +41 44 226 1799 jens.brueckner@efginternational.com EFG International AG Bleicherweg 8 8001 Zurich Switzerland Phone +41 44 212 73 77 efginternational.com Reuters: EFGN.S Bloomberg: EFGN SW INVESTORS Corporate Communications Daniela Haesler Head of Corporate Communications Phone +41 44 226 1804 daniela.haesler@efginternational.com MEDIA