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Annual Financial
Report
2025
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
· Overview

Monetary values in € million | 2025 | 2024 | Change | 2023 | 2022 | 2021
Income statement | 1/1-31/12 | 1/1-31/12 |  | 1/1-31/12 | 1/1-31/12 | 1/1-31/12
Net interest income | 5,874 | 5,779 | 1.6% | 5,596 | 5,053 | 3,327
Net fee and commission income | 2,731 | 2,638 | 3.5% | 2,906 | 3,878 | 1,985
General administrative expenses | (4,134) | (3,786) | 9.2% | (3,837) | (3,552) | (2,978)
Operating result | 4,963 | 4,915 | 1.0% | 4,991 | 6,158 | 2,592
Impairment losses on financial assets | (141) | (125) | 12.9% | (391) | (949) | (295)
Profit/loss before tax | 2,634 | 2,984 | (11.7)% | 3,412 | 4,203 | 1,790
Profit/loss after tax | 1,621 | 1,358 | 19.4% | 2,578 | 3,797 | 1,508
Consolidated profit/loss | 1,371 | 1,157 | 18.5% | 2,386 | 3,627 | 1,372
Statement of financial position | 31/12 | 31/12 |  | 31/12 | 31/12 | 31/12
Loans to banks | 12,682 | 18,057 | (29.8)% | 14,714 | 15,716 | 16,630
Loans to customers | 105,610 | 99,551 | 6.1% | 99,434 | 103,230 | 100,832
Deposits from banks | 20,677 | 23,015 | (10.2)% | 26,144 | 33,641 | 34,607
Deposits from customers | 127,575 | 117,717 | 8.4% | 119,353 | 125,099 | 115,153
Equity | 22,463 | 20,340 | 10.4% | 19,849 | 18,764 | 15,475
Total assets | 210,265 | 199,851 | 5.2% | 198,241 | 207,057 | 192,101
Key figures | 1/1-31/12 | 1/1-31/12 |  | 1/1-31/12 | 1/1-31/12 | 1/1-31/12
Return on equity before tax | 12.5% | 15.4% | (2.9) PP | 18.9% | 26.6% | 12.6%
Return on equity after tax | 7.7% | 9.7% | (2.0) PP | 14.3% | 24.1% | 10.6%
Consolidated return on equity | 6.9% | 9.4% | (2.5) PP | 14.8% | 26.8% | 10.9%
Cost/income ratio | 44.8% | 43.0% | 1.8 PP | 43.0% | 36.2% | 53.0%
Return on assets before tax | 1.27% | 1.45% | (0.18) PP | 1.64% | 2.02% | 0.99%
Net interest margin (average interest-bearing assets) | 2.95% | 2.98% | (0.02) PP | 2.86% | 2.59% | 2.01%
Provisioning ratio (average loans to customers) | 0.14% | 0.22% | (0.07) PP | 0.33% | 0.73% | 0.30%
Bank-specific information | 31/12 | 31/12 |  | 31/12 | 31/12 | 31/12
NPE ratio | 1.7% | 2.1% | (0.4) PP | 1.9% | 1.6% | 1.6%
NPE coverage ratio | 46.5% | 51.6% | (5.1) PP | 51.7% | 59.0% | 62.5%
Total risk-weighted assets (RWA) | 100,924 | 95,600 | 5.6% | 93,664 | 97,680 | 89,928
Common equity tier 1 ratio (transitional) | 17.9% | 17.1% | 0.8 PP | 17.3% | 16.0% | 13.1%
Tier 1 ratio (transitional) | 19.6% | 19.0% | 0.6 PP | 19.1% | 17.7% | 15.0%
Total capital ratio (transitional) | 21.7% | 21.5% | 0.2 PP | 21.5% | 20.2% | 17.6%
Stock data | 1/1-31/12 | 1/1-31/12 |  | 1/1-31/12 | 1/1-31/12 | 1/1-31/12
Earnings per share in € | 3.82 | 3.19 | 19.8% | 6.93 | 10.76 | 3.89
Closing price in € (31/12) | 38.30 | 19.75 | 93.9% | 18.67 | 15.35 | 25.88
High (closing prices) in € | 38.30 | 20.48 | 87.0% | 18.75 | 28.42 | 29.40
Low (closing prices) in € | 19.11 | 15.82 | 20.8% | 12.73 | 10.00 | 16.17
Number of shares in million (31/12) | 328.94 | 328.94 | 0.0% | 328.94 | 328.94 | 328.94
Market capitalization in € million (31/12) | 12,598 | 6,497 | 93.9% | 6,141 | 5,049 | 8,513
Dividend per share in € | 1.60 | 1.10 | 45.5% | 1.25 | 0.80 | –
Resources | 31/12 | 31/12 |  | 31/12 | 31/12 | 31/12
Employees as at reporting date (full-time equivalents) | 42,425 | 42,564 | (0.3)% | 44,887 | 44,414 | 46,185
Business outlets | 1,322 | 1,391 | (5.0)% | 1,519 | 1,664 | 1,771
Customers in million | 18.6 | 17.9 | 3.9% | 18.6 | 18.1 | 19.5
The sale of the Belarusian group units at the end of November 2024 resulted in a change in the presentation in accordance with IFRS 5. This business area was reported in the income statement under the item result from discontinued operations. The figures for the year 2023 in the income statement were adjusted accordingly, as were the key figures. In the year 2024, this contribution included not only the current contribution to earnings but also the result from deconsolidation.
In this report RBI denotes the RBI Group. If RBI AG is used it denotes Raiffeisen Bank International AG. Head office refers to Raiffeisen Bank International AG excluding branches.
Adding and subtracting rounded amounts in tables and charts may lead to minor discrepancies. Changes in tables are based on not rounded amounts. The ratios referenced in this report are defined in the consolidated financial statements under key figures.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
4
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
5
Content

Group management report | 6
Market development | 8
Significant events in the reporting period | 11
Earnings and financial performance | 12
Internal control and risk management system in relation to the Group accounting process | 20
Capital, share, voting, and control rights | 23
Risk management | 26
Corporate Governance | 26
Intangible resources | 26
Outlook | 29
Consolidated non-financial statement | 32

Segment and country analysis | 346

Consolidated financial statements | 356
Company | 358
Statement of comprehensive income | 359
Statement of financial position | 361
Statement of changes in equity | 362
Statement of cash flows | 363
Notes | 365
Principles underlying the consolidated financial statements | 365
Segment reporting | 377
Notes to the income statement | 384
Financial assets measured at amortized cost | 394
Financial assets measured at fair value | 403
Other assets and liabilities and equity | 416
Notes of financial instruments | 439
Risk report | 460
Other disclosures | 490
Regulatory information | 527
Key figures | 533
List of abbreviations | 535
Events after the reporting date | 536
Statement of all legal representatives | 537
Independent Auditor's Report | 538
Assurance report on the consolidated non-financial statement | 543

The report in English is a translation of the original German report. The only authentic version is the German version.

Annual Financial Statements | 549
Statement of financial position | 549
Income statement | 551
Notes | 552
General disclosures | 552
Recognition and measurement principles | 553
Notes to the statement of financial position | 560
Notes to the income statement | 589
Other | 593
Management report | 598
Market development | 598
Business performance at Raiffeisen Bank International AG | 601
Financial Performance Indicators | 606
Capital, share, voting and control rights | 611
Non-financial Performance Indicators | 613
Corporate Governance | 615
Risk report | 616
Internal control and risk management system in relation to the accounting process | 636
Outlook | 639
Statement of all legal representatives pursuant to § 124 (1) Z 3 Austrian Stock Exchange Act | 642
Independent Auditor’s Report | 643

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
6
Group management
report
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
7

Market development | 8
Significant events in the reporting period | 11
Earnings and financial performance | 12
Internal control and risk management system in relation to the Group accounting process | 20
Capital, share, voting, and control rights | 23
Risk management | 26
Corporate Governance | 26
Intangible resources | 26
Outlook | 29
Consolidated non-financial statement | 32

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
8 Group management report
· Market development
Industry and trade policy creates headwinds for Europe’s economy
The year of 2025 was marked by various geopolitical uncertainties. The US tariffs announced in April intensified trade policy
tensions. Economic momentum weakened in the US, but the growth rate was still far from recessionary levels. Although
industry showed signs of stabilization over the course of the year, in Western Europe, economic headwinds were felt
particularly keenly by countries that were more reliant on manufacturing, such as Germany or Austria, while more service-
driven economies experienced above-average momentum. Most economies of the CE/SEE region managed to offset industrial
weakness with solid consumer spending and investment momentum. Fiscal policy came under more scrutiny in Europe due to
Germany’s announcement of extensive defense and infrastructure investments and France’s strained finances. These
developments were also reflected in government bond markets and drove up government bond yields and risk premiums.
Inflation in the euro area settled at around two per cent over the course of the year, while prices in Austria bucked the general
trend and rose again in 2025. The ECB subsequently ended its gradual rate cuts in June and kept the key interest rate level
stable through year-end. Given the uncertainty over how US tariffs would affect consumer prices, the US Federal Reserve did
not continue the rate-cutting cycle that began in 2024. However, this only held true for the first half of 2025: Lower inflationary
effects of tariffs, but especially a more pronounced weakening of the US labor market, prompted the US Federal Reserve to
resume interest rate cuts in the fall.
The euro area economy proved remarkably resilient in 2025 despite a challenging global environment (US tariffs). Despite
temporary fluctuations caused by volatile US export trends, the euro area economy managed to gain momentum slightly
compared to the previous year. The service sector continued to serve as the main pillar of the economy, while the
manufacturing sector showed improvement from a low level. Against this backdrop, national divergence within the euro area
persisted, with service-oriented economies such as Spain once again recording significantly better momentum than
manufacturing-heavy countries such as Germany. The labor market situation in the euro area remained resilient, characterized
by a low unemployment rate and solid employment levels. Inflation finally returned to the two per cent target over the course
of the year, driven by the weakening of previously persistent upward pressures on core service prices.
The ECB lowered its deposit rate 100 basis points in the first half of 2025. That means the ECB deposit rate has stood at 2 per
cent since June 2025. While the rate-cutting cycle came to an end, the ECB continued to trim its balance sheet. Bond holdings
were no longer reinvested at maturity in either bond purchase program. The supply of liquidity in the euro area shrank as a
result, although it did remain sufficient. Consequently, there were no disruptions in the money markets. The Euribor money
market rates stabilized just above 2 per cent after having trended downward during the rate-cutting cycle. The monetary
policy outlook was not the only factor shaping the German government bond market. The primary driver was Germany’s
revised fiscal policy; US tariff policy had an influence as well. In summary, the European markets in 2025 were predominantly
marked by a steepening of the monetary and yield curve structures.
The Austrian economy managed to return to a growth trajectory in 2025 after two consecutive years of recession. However,
with GDP growth of just 0.6 per cent, Austria remained among the worst performers in the euro area. Economic momentum
remained modest throughout the year. Significant impetus came from both private and public consumption, while foreign
trade proved to be a drag on growth. While the industrial recession came to an end in 2025, the downward trend in the
construction sector continued. Unlike in the euro area, inflation in 2025 was significantly higher than in the previous year. It was
driven by persistently high service-sector inflation and the expiration of temporary interventions in the energy market.
CEE: Significant disparities within the region
Due to the trade openness and economic structure of countries in Central Europe (CE), growth was hampered by US tariffs
and Germany’s sluggish economic performance. Nevertheless, economic performance remained resilient in Poland, which has
benefited from an acceleration in NGEU fund disbursements since the second half of 2025, as well as the Czech Republic.
Hungary and Slovakia were held back by their strong export dependence, close integration with the German automotive
industry and subdued consumption. The Slovak economy was also negatively affected by fiscal consolidation.
Growth in Southeastern Europe (SEE) exceeded the euro area average, with several rapidly expanding economies standing
out. Albania and Croatia, for example, benefited from persistently strong tourism and consumption. Weaknesses emerged in
some countries as well: Serbia recorded relatively subdued growth due to lower investment, while Romania’s economy suffered
from fiscal consolidation, making it the laggard of the region. In Bosnia and Herzegovina, local political issues compounded an
already challenging global environment. Persistent inflation and uncertainty also had a dampening effect on consumption,
although this was offset by a robust labor market. Both initial disbursements under the Growth Plan for the Western Balkans
and the NGEU funds once again made the EU an important driver of investment in the region in 2025.
The ongoing war continued to weigh heavily on the Ukrainian economy in 2025. Increasing attacks on civilian targets, energy
infrastructure and industries involved in extracting resources such as natural gas posed major challenges and increased the
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 9
need for energy imports. Despite these obstacles, the economy demonstrated remarkable resilience and adaptability. External
support, even without direct assistance from the US, formed an important foundation for Ukraine’s resilience.
The Russian economy cooled down noticeably in 2025. It struggled under growing burdens posed by a lack of investment,
driven by high interest rates and sanctions. Lower domestic demand simultaneously drove down inflation, giving the central
bank leeway to initiate a rate-cutting cycle.
Annual real GDP growth in per cent compared to the previous year

Region/country | 2024 | 2025e | 2026f | 2027f
Poland | 3.0 | 3.6 | 3.5 | 3.1
Slovakia | 1.9 | 0.8 | 1.5 | 1.7
Czech Republic | 1.1 | 2.5 | 2.2 | 2.6
Hungary | 0.6 | 0.4 | 1.8 | 2.3
Central Europe | 2.1 | 2.6 | 2.8 | 2.8
Albania | 4.0 | 3.7 | 3.8 | 3.9
Bosnia and Herzegovina | 3.2 | 2.0 | 2.5 | 2.8
Croatia | 3.8 | 3.2 | 2.6 | 2.5
Kosovo | 4.6 | 3.3 | 3.9 | 4.0
Romania | 0.9 | 0.8 | 1.3 | 2.5
Serbia | 3.9 | 2.0 | 2.8 | 3.0
Southeastern Europe | 2.3 | 1.8 | 2.1 | 2.8
Russia | 4.3 | 0.9 | 0.9 | 0.9
Ukraine | 2.9 | 2.1 | 3.0 | 4.5
Austria | (0.7) | 0.6 | 1.0 | 1.3
Euro area | 0.9 | 1.4 | 1.4 | 1.9
Source: Raiffeisen Research, as of beginning of February 2026, (e: estimate, f: forecast); subsequent revisions are possible for years already completed |

Banking sector in Austria
In 2025, the Austrian banking sector carried on the good performance from 2024, albeit with more moderate results. The
operating business continued to be supported by sound net interest income and positive performance in the commission
business. In addition to rising operating costs, increased risk costs also had a dampening effect on the domestic banking
sector’s net income. The funding environment for the Austrian banking sector was challenging in 2025. Nevertheless, Austrian
banks once again held their own in the primary market and continued to successfully place respectable volumes, especially in
the senior segment.
The growth rates of issued loan volumes managed to move out of negative territory in the household segment, while the
corporate loan segment continued to show weak momentum in 2025. The household segment was supported by lower interest
rates and solid demand in residential construction; an annual growth rate (p.a.) of 1.3 per cent was reported as of December
2025. New lending volumes in residential construction increased as well. In contrast, the corporate segment reported annual
growth of 2.4 per cent (December 2025 vs. December2024) compared to growth of 1.9 per cent in the previous year. Monthly
annual growth rates in this segment showed neutral momentum in 2025. The banking sector’s capitalization increased further
compared to the start of 2025, reaching 18.4 per cent (common equity tier 1 ratio) as of September 2025. On 1 July 2025, the
systemic risk buffer for commercial real estate financing of 1 per cent came into effect. The buffer was evaluated at the
December meeting of the Financial Market Stability Board.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
10 Group management report
Development of the banking sector in CEE
Following the easing of key monetary policy cycles, first at the national level and then by the ECB, profitability at CE/SEE banks
softened from previous peak levels. Nevertheless, the region’s aggregate return on equity (RoE) remained at a solid 17 per cent
in 2025 and maintained a lead of 7 percentage points over the euro area average. Inevitable setbacks in net interest margins
were partially offset by new loan volumes that were supported by the overall optimistic trend in the retail lending business,
while corporate loan growth was more polarized (leading in SEE, lagging in CE). Strong household credit demand was partly
supported by policy measures (government-subsidized residential construction loans) but also based on robust labor markets
and real wage growth. However, wage growth also contributed to inflation in banks’ cost base along with the ongoing
extraordinary tax charges. The sector’s liquidity situation remained quite favorable, with generally healthy loan-to-deposit
ratios and good access to market funding (MREL, covered bonds), which banks used to improve resource allocation toward
interest-bearing assets. Credit quality remained solid despite risk costs “normalizing” at higher levels in some markets and
industries (such as steel, automotive). In this regard, the effects of tariff risks were largely cushioned by IFRS 9 overlays, while
actual cases of borrower defaults have so far proven to be manageable.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 11
· Significant events in the
reporting period
Russia
Business reduction
RBI continued to reduce its business in Russia. Since the start of the war, the loan volume in local currency has been reduced by
60 per cent, while deposit volume has decreased by 40 per cent. Clearing, settlement and payment services have also been
considerably reduced: the international clearing, settlement and payment services business out of Russia are only offered to a
limited extent. AO Raiffeisenbank does not pay interest on customer deposits in order to keep them as low as possible. At the
same time, AO Raiffeisenbank is obliged to invest liquidity with the Russian central bank at the key interest rate (in 2025, this
averaged 19 per cent), which accounted for over 70 per cent of net interest income in Russia.
Rasperia
In January 2025, STRABAG SE and its Austrian core shareholders were ordered by the arbitration court of the Kaliningrad region
to pay damages of € 2,044 million, which can be enforced against AO Raiffeisenbank’s assets. The damages awarded to
Rasperia Trading Limited (Rasperia) in the amount of € 2,109 million (including interest) were withheld from AO Raiffeisenbank’s
correspondent account by the Russian Central Bank in the first half of the year, resulting in an expense of € 1,269 million
(including interest) and the usage of the provision of € 840 million recognized in the previous year.
On 18 December, 2025, the arbitration court of the Kaliningrad region announced its ruling in a second legal dispute between
Rasperia and STRABAG SE and its Austrian core shareholders. The court ruled that STRABAG SE and its Austrian core
shareholders are obliged to pay € 339 million to Rasperia, which can be enforced against AO Raiffeisenbank’s assets. An appeal
with suspensive effect has been lodged against this ruling. AO Raiffeisenbank recognized a provision of € 339 million in
December 2025.
Dividend
On 26 March 2025, the Annual General Meeting resolved to distribute a dividend of € 1.10 for each share that was entitled to a
dividend for the 2024 financial year. This corresponds to a distribution amount of € 360,681,550.
The Management Board will propose the distribution of a dividend of € 1.60 per share to the Annual General Meeting on 9 April
2026. Based on the shares issued, this would result in a maximum amount of € 525 million.
Reorganization of responsibilities within the RBI Management Board
In December, the Supervisory Board appointed Michael Höllerer to succeed Johann Strobl as CEO of RBI. Michael Höllerer will
take up his position on 1 July 2026. Until then, Johann Strobl will continue to serve as CEO.
The Supervisory Board also decided that the CFO function will again form a dedicated board area. This role has been held by
Kamila Makhmudova, LL.M. MBA, since 1 January 2026. The new board member for CIB Products & Solutions will be Rainer
Schnabl, who will succeed Łukasz Januszewski on 1 March 2026. With the departure of Andrii Stepanenko on 1 March 2026, the
retail agenda will be managed by the CEO. In addition, the Supervisory Board decided to extend the mandate of Andreas
Gschwenter as CIO by three years from 1 July 2026.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
12 Group management report
· Earnings and financial
performance
RBI’s income statement continued to reflect the difficult economic conditions and, above all, the ECB’s interest rate cuts.
Nevertheless, the operating result of € 4,963 million was € 48 million higher year-on-year. The derecognition of the expected
proceeds from the enforcement of RBI’s claims against the Austrian assets of Rasperia Trading Limited in the amount of
€ 1,269 million by AO Raiffeisenbank in Russia and the allocation of a provision in connection with the second Rasperia legal
proceeding (€ 339 million) had a negative impact on the consolidated profit for 2025. At € 1,371 million, however, it stood € 214
million or 19 per cent above the previous year’s level.
Overall, core revenues (net interest income and net fee and commission income) were up € 188 million, or 2 per cent, to € 8,605
million. Net interest income recorded an increase of € 95 million to € 5,874 million. Growth in the Czech Republic, Slovakia and
Russia was offset by reduced levels of net interest income in Hungary and Serbia. Despite a decrease of € 64 million in Russia,
net fee and commission income rose € 93 million to € 2,731 million. This growth is mainly attributable to Romania, Hungary and
the Czech Republic.
General administrative expenses rose € 348 million year-on-year to € 4,134 million. Staff expenses increased € 294 million to
€ 2,347 million, mainly due to inflation. The transaction tax in Hungary rose € 29 million due to the increase in the tax rate.
Impairment losses on financial assets were up € 16 million year-on-year to € 141 million. The net allocations mainly related to
the head office in an amount of € 157 million and to Southeastern Europe in an amount of € 51 million. These were offset by net
releases in Russia (€ 51 million) and Ukraine (€ 48 million). Income taxes increased € 60 million to € 1,013 million. This is mainly
due to the increase in the tax rate from 20 to 25 per cent in Russia, where tax expenses were up € 94 million to € 492 million.
The effective tax rate increased 6.5 percentage points year-on-year to 38.4 per cent.
Total assets expanded by around € 10.4 billion, or 5.2 per cent, to € 210 billion, with currency effects accounting for an increase
of € 1.3 billion. The customer business recorded overall growth of 6 per cent, with loans to households rising 10 per cent,
particularly in Central Europe, Romania and Serbia. Targeted business restrictions in Russia led to a reduction in customer
business in local currency, while growth at consolidated level derived entirely from the 22 per cent appreciation of the Russian
ruble. Securities portfolios grew, primarily due to investments in government bonds at head office as well as in the Czech
Republic, Romania and Slovakia. On the refinancing side, customer deposits increased, particularly from households in Central
Europe, Croatia and Romania. The growth in customer deposits in Russia was exclusively currency-related.
Equity including non-controlling interests grew € 2,124 million from its level at the start of the year to reach € 22,463 million.
Total comprehensive income of € 2,875 million comprises profit after tax of € 1,621 million and other comprehensive income of
€ 1,254 million. Currency movements, in particular, had a positive impact of € 1,098 million on other comprehensive income. This
mainly reflected the 22 per cent appreciation of the Russian ruble, which contributed € 1,067 million.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 13
Comparison of results with the previous year

in € million | 2025 | 2024 | Change
Net interest income | 5,874 | 5,779 | 95 | 1.6%
Dividend income | 31 | 33 | (2) | (7.2)%
Current income from investments in associates | 52 | 47 | 5 | 10.2%
Net fee and commission income | 2,731 | 2,638 | 93 | 3.5%
Net trading income and fair value result | 253 | 111 | 142 | 127.9%
Net gains/losses from hedge accounting | 6 | 9 | (4) | (39.5)%
Sundry operating income | 151 | 84 | 68 | 80.9%
Operating income | 9,097 | 8,701 | 396 | 4.6%
Staff expenses | (2,347) | (2,053) | (294) | 14.3%
Other administrative expenses | (1,282) | (1,261) | (21) | 1.6%
Depreciation | (506) | (472) | (34) | 7.1%
General administrative expenses | (4,134) | (3,786) | (348) | 9.2%
Operating result | 4,963 | 4,915 | 48 | 1.0%
Other result | (1,918) | (1,590) | (328) | 20.6%
Governmental measures and compulsory contributions | (270) | (216) | (54) | 25.2%
Impairment losses on financial assets | (141) | (125) | (16) | 12.9%
Profit/loss before tax | 2,634 | 2,984 | (350) | (11.7)%
Income taxes | (1,013) | (953) | (60) | 6.3%
Profit/loss after tax from continuing operations | 1,621 | 2,031 | (410) | (20.2)%
Gains/losses from discontinued operations | 0 | (673) | 673 | –
Profit/loss after tax | 1,621 | 1,358 | 263 | 19.4%
Profit attributable to non-controlling interests | (250) | (201) | (49) | 24.6%
Consolidated profit/loss | 1,371 | 1,157 | 214 | 18.5%

Operating income
Net interest income grew € 95 million to € 5,874 million. While the average
key interest rate decreased year-on-year for most of the Group’s currencies
(particularly for EUR, CZK and HUF), it rose for the Russian ruble, despite
interest rate cuts in the second half of the year. Business volume growth and
purchases of government bonds in almost all countries supported net
interest income. Overall, average interest-bearing assets grew 2.5 per cent
year-on-year. At country level, net interest income in Russia increased € 67
million, despite the reduction of the portfolio. This mainly reflected the
appreciation of the Russian ruble and higher interest income from short-term
deposits with the central bank. In Slovakia, net interest income rose € 60
million due to higher income from mortgage loans (repricing measures) and
bonds. In Hungary, by contrast, net interest income was down € 52 million.
This was mainly due to lower market interest rates and a negative effect of
€ 44 million in connection with currency swaps.
Due to the reduction in market interest rates, the net interest margin was
down 2 basis points to 2.95 per cent. Excluding Russia, the decrease
amounted to 5 basis points, to a level of 2.28 per cent.
Net fee and commission income rose by € 93 million to € 2,731 million. Growth was achieved in most countries of the Group,
with highest increases in Romania, Hungary and the Czech Republic, while Russia recorded a decrease of € 64 million. Especially
in Romania (increase: € 48 million) higher transaction numbers and volumes as well as the performance bonus from a credit
card provider led to an improvement in net fee and commission income from clearing, settlement and payment services. In
addition, higher income from clearing, settlement and payment services in Hungary (increase: € 46 million) led to growth. In the
Czech Republic (increase: € 39 million) there was a volume-driven increase in custody and fiduciary business. Net fee and
commission income from foreign exchange business grew € 108 million due to changes relating to volumes and margins,
primarily in Russia. This development reflected the higher volatility of the Russian ruble in comparison to previous year, which
led to an increase in the number of transactions and shifts of liquidity into more stable currencies. Net income from asset
management recorded an increase of € 29 million, primarily in Hungary, at Valida Plus AG and in Romania due to higher
volumes, likewise net income from custody and fiduciary business rose by € 28 million, related to higher volumes. Also, net
income from loan and guarantee business improved by € 18 million, most strongly at head office, in the Czech Republic and
Slovakia. In contrast, other net fee and commission income was down € 49 million due to lower income in connection with
currency control activities in Russia. Net income from securities business also decreased by € 42 million, primarily in Russia.
Net trading income and the fair value result rose € 142 million year-on-year to a level of € 253 million. This mainly reflected
Russia, which posted an increase of € 179 million to € 238 million. This was due to higher transaction volumes and a sharp
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
14 Group management report
increase in profit margins in foreign exchange trading in line with high volatility on the Russian foreign exchange market, which
in turn reflected the geopolitical environment. Hungary recorded a moderate increase in currency-related trading and
valuation results. By contrast, interest-related valuation results in connection with loans measured at fair value in Hungary
were down and net trading income from interest rate products at head office decreased slightly.
The improvement in other net operating income of € 68 million to € 151 million was mainly due to other provisions in connection
with legal cases. In this context, releases were realized in the reporting period, while allocations were realized in previous year's
period.
General administrative expenses
General administrative expenses increased 9 per cent, or
€ 348 million, year-on-year to a level of € 4,134 million.
Staff expenses rose € 294 million to € 2,347 million.
Increases occurred in almost all of the countries where
the Group operates as well as at head office. Russia
recorded a rise of € 175 million due to salary adjustments
and expenses for one-off payments as well as currency
developments. The main driver of the € 21 million increase
in other administrative expenses was the transaction tax
in Hungary. These transaction taxes rose € 29 million to €
120 million due to the increase in the tax rate per
transaction. IT expenses increased € 20 million, primarily
in the Czech Republic and Slovakia. The € 10 million
increase in communication expenses was mainly due to
Romania. Offsetting this, cost reductions were realized at
head office due to lower consulting expenses.
Depreciation of property, plant and equipment and
amortization of intangible assets increased 7 per cent, or € 34 million, to a level of € 506 million, primarily in Russia due to
capitalization and the adjustment of the useful life of intangible assets. The cost/income ratio rose year-on-year from 43.0 per
cent to 44.8 per cent and amounted to 53.1 per cent excluding Russia.
Other result
The other result amounted to minus € 1,918 million in the reporting period, compared to minus € 1,590 million in the previous
year. This mainly reflected the derecognition of the expected proceeds from the enforcement of RBI's claims against the
Austrian assets of Rasperia Trading Limited as well as interest expenses in connection with damages awarded to Rasperia
(€ 1,269 million) and the allocation to a provision in connection with the second Rasperia proceedings (€ 339 million). In addition,
credit-related, portfolio-based litigation and cancellations of loan agreements had a negative effect of € 302 million (previous
year: € 657 million). These almost exclusively related to mortgage loans in Poland denominated in foreign currencies or linked to
a foreign currency. Losses on modified contract terms led to a result of minus € 29 million in the reporting period, primarily in
Slovakia (€ 13 million) and at head office (€ 8 million). The valuation of investments in subsidiaries and associated companies
led to a positive result of € 21 million.
Governmental measures and compulsory contributions
The expense for governmental measures and compulsory contributions rose € 54 million to € 270 million. Bank levies increased
€ 65 million. This was mainly due to an increase of € 52 million at head office due to the increase in the bank stability levy in
Austria in the first quarter of 2025. In addition, the statutory increase in bank tax in Romania since July led to an increase of
€ 18 million. This was offset by a decrease of € 8 million in Hungary due to a reduction in the tax rate.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 15
Impairment losses on financial assets
Net provisioning for impairment losses on financial assets amounted to € 141 million. At country level, risk costs mainly related
to the head office in an amount of € 157 million (previous year: € 190 million), primarily relating to non-financial corporations in
Stage 3. In Southeastern Europe, net impairment losses of € 51 million (previous year: € 19 million) were recognized, primarily in
Romania. In Central Europe, a lower net allocation of € 7 million was realized (previous year: net release of € 8 million). This was
offset by net releases in Russia (€ 51 million) and Ukraine (€ 48 million).
For defaulted loans (Stage 3), net impairments of € 247 million were recognized in the reporting period (previous year: € 491
million), of which € 138 million related to non-financial corporations and € 123 million to households. At country level, the Stage
3 impairment losses were primarily incurred by head office (€ 103 million) and Russia (€ 76 million). In Stages 1 and 2, a net
release of € 106 million was recognized in the reporting period (previous year: net release of € 366 million), primarily in Russia.
Impairment losses rose € 16 million year-on-year. This increase is primarily attributable to Russia, where the net release
decreased from € 162 million in the previous year to € 51 million. This was offset by a positive effect of € 108 million in Ukraine,
caused by a net release of € 48 million in the reporting period after a net allocation of € 60 million in the previous year.
Income taxes
While profit before tax decreased by € 350 million year-on-year, income taxes increased by € 60 million to € 1,013 million. This is
mainly due to the increase in the tax rate from 20 to 25 per cent in Russia, where tax expenses rose by € 94 million to € 492
million. In the Czech Republic, the € 15 million higher tax expense resulted from the increase in earnings. In Ukraine, the return to
a 25 per cent tax rate led to a decrease in tax expenses by € 37 million despite a significant increase in earnings. In Slovakia,
the € 7 million lower tax expense was due to the reduction of the special tax from 30 per cent to 25 per cent.
The effective tax rate rose by 6.5 percentage points compared to the prior period to 38.4 per cent. This is mainly attributable
to the tax rate increase in Russia as well as the non-deductible expenses for Rasperia cases.
Gains/losses from discontinued operations
In the previous year, gains/losses from discontinued operations included the contribution from the current result and the
deconsolidation of the Belarusian Group units amounting to minus € 673 million.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
16 Group management report
Comparison of results with the previous quarter
The figures for the quarters were neither audited nor reviewed.
Quarterly results

in € million | Q4/2024 | Q1/2025 | Q2/2025 | Q3/2025 | Q4/2025 | Change
Net interest income | 1,511 | 1,504 | 1,468 | 1,459 | 1,443 | (15) | (1.0)%
Dividend income | 2 | 8 | 13 | 3 | 6 | 4 | 131.4%
Current income from investments in associates | (9) | 3 | 8 | 22 | 19 | (3) | (14.0)%
Net fee and commission income | 668 | 668 | 685 | 679 | 699 | 20 | 2.9%
Net trading income and fair value result | 36 | 56 | 114 | 44 | 40 | (4) | (9.1)%
Net gains/losses from hedge accounting | 0 | 3 | 4 | (3) | 2 | 5 | –
Other net operating income | (1) | 27 | 27 | 51 | 47 | (4) | (8.7)%
Operating income | 2,205 | 2,269 | 2,319 | 2,254 | 2,255 | 2 | 0.1%
Staff expenses | (474) | (566) | (592) | (574) | (614) | (39) | 6.9%
Other administrative expenses | (347) | (310) | (322) | (308) | (343) | (35) | 11.4%
Depreciation | (127) | (119) | (124) | (123) | (139) | (16) | 13.1%
General administrative expenses | (948) | (995) | (1,038) | (1,005) | (1,096) | (91) | 9.0%
Operating result | 1,258 | 1,274 | 1,281 | 1,249 | 1,160 | (89) | (7.1)%
Other result | (1,032) | (65) | (1,435) | (62) | (356) | (294) | 476.3%
Governmental measures and compulsory contributions | (26) | (121) | (43) | (51) | (54) | (3) | 5.2%
Impairment losses on financial assets | (13) | (43) | (66) | (44) | 12 | 56 | –
Profit/loss before tax | 186 | 1,044 | (263) | 1,092 | 762 | (330) | (30.2)%
Income taxes | (281) | (281) | (232) | (245) | (255) | (11) | 4.3%
Profit/loss after tax from continuing operations | (95) | 763 | (495) | 847 | 506 | (340) | (40.2)%
Gains/losses from discontinued operations | (800) | 0 | 0 | 0 | 0 | 0 | –
Profit/loss after tax | (895) | 763 | (495) | 847 | 506 | (340) | (40.2)%
Profit attributable to non-controlling interests | (30) | (58) | (63) | (68) | (62) | 6 | (9.2)%
Consolidated profit/loss | (926) | 705 | (557) | 778 | 445 | (334) | (42.9)%

Development of the fourth quarter of 2025 compared to the third quarter of
2025
Net interest income decreased € 15 million to € 1,443 million. This was mainly attributable to a € 13 million decrease in Russia. A
gradual reduction of Russia’s key interest rate from 20 per cent at the beginning of the third quarter to 16 per cent by the end
of the fourth quarter led to lower interest income from short-term deposits with the central bank. No further interest rate cuts
were implemented in other major currencies, which helped to stabilize net interest income. The Group’s net interest margin
shrank 8 basis points to 2.85 per cent due to lower interest income in Russia; excluding Russia, there would have been a
decrease of 4 basis points to 2.26 per cent.
Net fee and commission income improved € 20 million to € 699 million. Increases in Hungary (€ 7 million), Romania (€ 5 million),
the Czech Republic, Serbia, and Slovakia (€ 4 million each) were partly offset by a decrease at head office (€ 7 million). Net
income from asset management increased € 10 million due to performance bonuses from investment funds and from higher
volumes, with the strongest growth in Hungary and at Valida Pension AG. Also, net income from clearing, settlement and
payment services rose € 7 million, primarily driven by the performance bonus from a credit card provider in Romania and in
Ukraine and by seasonally higher transaction numbers and volumes, mainly in Russia, Serbia and Slovakia.
Net trading income and fair value result fell € 4 million to € 40 million. Negative valuation results in Hungary related to loans
measured at fair value in the third quarter were largely offset by positive valuation effects from RBI’s own credit spread on
issued certificates at head office. Following a drop of approximately 15 basis points in RBI’s own credit spread during the third
quarter, the fourth quarter only saw a minimal decline of 5 basis points. This reduced the negative valuation effect by € 15
million compared with the previous quarter.
General administrative expenses increased € 91 million quarter-on-quarter to € 1,096 million. Staff expenses increased € 39
million to € 614 million, including € 13 million in Russia and € 6 million each in Hungary and Romania. Other administrative
expenses rose € 35 million to € 343 million, while depreciation increased € 16 million to € 139 million. The largest increases in
other administrative expenses were in Poland (up € 12 million, mainly due to legal expenses) and Romania (up € 10 million,
higher expenses for communication, consulting and advertising).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 17
With respect to impairment losses on financial assets, there was a net release of impairment losses of € 12 million following a
net allocation of € 44 million in the third quarter. In the fourth quarter, net releases in Russia (€ 84 million due to the release of
overlays following repayments) and in Ukraine (€ 38 million mainly in macroeconomic overlays) were offset by impairments at
head office (€ 43 million), in Central Europe (€ 35 million) and in Southeastern Europe (€ 24 million). In the third quarter, net
allocations were primarily recorded in Russia (€ 32 million, mostly due to household defaults).
The other result decreased € 294 million to minus € 356 million. The change was mainly driven by the recognition of a provision
in connection with the second Rasperia legal proceeding (€ 339 million) as well as losses from modified contract terms,
primarily in Slovakia (€ 13 million). Expenses for credit‑related legal disputes and annulments of loan agreements declined
quarter on quarter to € 2 million (after € 66 million in the third quarter) and related almost exclusively to the mortgage loan
portfolio in Poland.
Statement of financial position
The figures for the first and third quarters of 2025 were neither audited nor reviewed by an auditor; the interim financial
statements for the first half of 2025 were reviewed by an auditor.
Total assets have increased around € 10 billion, or 5 per cent, in the year to date, with currency effects being responsible for an
increase of 0.6 per cent. While the Russian ruble and the Hungarian forint appreciated 22 per cent and 7 per cent, respectively,
the US dollar and the Ukrainian hryvnia each depreciated 12 per cent.
Assets

in € million | 12/31/2024 | 31/3/2025 | 30/6/2025 | 30/9/2025 | 31/12/2025 | Change year-to-date | Change previous quarter
Loans to banks | 18,057 | 13,474 | 13,568 | 15,809 | 12,682 | (5,374) | (29.8)% | (3,127) | (19.8)%
Loans to customers | 99,551 | 100,979 | 102,202 | 103,027 | 105,610 | 6,059 | 6.1% | 2,583 | 2.5%
hereof non-financial corporations | 45,293 | 45,727 | 45,777 | 46,018 | 47,597 | 2,304 | 5.1% | 1,579 | 3.4%
hereof households | 40,070 | 40,829 | 41,794 | 42,859 | 44,118 | 4,048 | 10.1% | 1,258 | 2.9%
Securities | 37,430 | 41,123 | 43,218 | 45,740 | 46,879 | 9,449 | 25.2% | 1,139 | 2.5%
Cash and other assets | 44,814 | 49,219 | 44,520 | 44,534 | 45,094 | 280 | 0.6% | 560 | 1.3%
Total | 199,851 | 204,794 | 203,507 | 209,110 | 210,265 | 10,414 | 5.2% | 1,155 | 0.6%

Loans to banks declined mainly due to a decrease of € 6,009 million in Russia, where short‑term deposits were shifted to
overnight deposits with the Russian central bank. In contrast, there was an increase of € 434 million in the Czech Republic,
driven by higher volumes in repo transactions with the central bank.
Loans to customers increased € 6,059 million, or 6 per cent, with households accounting for the largest share of the increase,
€ 4,048 million. There was an increase of € 1,891 million in the Czech Republic, € 1,701 million in Slovakia, € 842 million in Hungary
and € 401 million in Serbia, each attributable to mortgage and personal loans to households as well as loans to non‑financial
corporations.
The increase in securities was primarily attributable to investments – especially in government bonds – at head office (up
€ 4,281 million) and in the Czech Republic (up € 1,907 million), Romania (up € 1,162 million) and Slovakia (up € 654 million).
Cash balances remained nearly stable, with a slight increase of € 469 million, or 1 per cent. Head office experienced a decrease
of € 6,225 million due to a reallocation into government bonds and a volume‑related decline in repo transactions. Lower
liquidity placements as part of the liquidity management activities led to a decline in cash balances of € 330 million in Romania
and € 265 million in Hungary. In contrast, cash balances in Russia increased € 7,201 million, mainly due to higher demand
deposits with the central bank, despite the collection of the damages awarded to Rasperia Trading Limited.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
18 Group management report
Equity and liabilities

in € million | 31/12/2024 | 31/3/2025 | 30/6/2025 | 30/9/2025 | 31/12/2025 | Change year-to-date | Change previous quarter
Deposits from banks | 23,015 | 25,347 | 23,074 | 23,565 | 20,677 | (2,339) | (10.2)% | (2,889) | (12.3)%
Deposits from customers | 117,717 | 119,984 | 121,440 | 125,284 | 127,575 | 9,858 | 8.4% | 2,291 | 1.8%
hereof non-financial corporations | 43,834 | 43,264 | 43,290 | 43,141 | 46,164 | 2,329 | 5.3% | 3,023 | 7.0%
hereof households | 59,354 | 61,202 | 62,341 | 63,628 | 65,657 | 6,302 | 10.6% | 2,029 | 3.2%
Debt securities issued and other liabilities | 38,779 | 37,622 | 37,820 | 38,171 | 39,549 | 771 | 2.0% | 1,379 | 3.6%
Equity | 20,340 | 21,842 | 21,174 | 22,091 | 22,463 | 2,124 | 10.4% | 373 | 1.7%
Total | 199,851 | 204,794 | 203,507 | 209,110 | 210,265 | 10,414 | 5.2% | 1,155 | 0.6%

The € 2,339 million, or 10 per cent, decrease in deposits from banks resulted mainly from head office (decrease: € 3,253 million),
driven by lower deposits from banks (repo transactions and money market time deposits). Russia, on the other hand, reported
an increase of € 514 million due to higher deposits from banks.
Deposits from customers increased € 9,858 million compared to the end of the year, with households accounting for
€ 6,302 million of the increase. The Czech Republic reported an increase of € 4,538 million, driven primarily by short-term
deposits from households. Slovakia recorded an increase of € 1,528 million due to higher deposits from households,
non‑financial corporations and governments. In Hungary, deposits increased € 803 million, particularly from non-financial
corporations and households. In Russia, deposits rose € 786 million solely due to currency effects, while a decline of 11 per cent
was recorded in local currency terms. Croatia recorded an increase of € 765 million, driven by higher volumes from non-
financial corporations and households. In Romania, higher household deposits alone generated an increase of € 480 million. The
decrease in deposits of € 964 million at head office was mainly due to lower volumes from other financial corporations.
Debt securities issued and sundry liabilities increased € 771 million, mainly due to increases at head office and in Slovakia. Head
office issued a senior non-preferred benchmark bond for € 500 million and two senior preferred benchmark bonds with face
values of € 500 million each in the reporting period. The € 665 million increase in Slovakia was primarily due to the issuance of a
€ 500 million covered bond. The € 850 million decrease in Russia was primarily due to the utilization of the € 840 million
provision established at the end of 2024 following the collection of damages awarded to Rasperia Trading Limited.
For information relating to funding, please refer to note (43) Liquidity management in the risk report section of the
consolidated financial statements.
Liquidity and funding
With its strong liquidity position and proven processes for managing liquidity risk, RBI has put its high adaptability on display.
As of 31 December 2025, the liquidity coverage ratio was 141 per cent (31 December 2024: 182 per cent) while the net stable
funding ratio (NSFR) was 142 per cent (31 December 2024: 145 per cent) compared to a regulatory minimum requirement of 100
per cent in each case. Separate monitoring of RBI’s liquidity risk position without Russian subsidiaries shows that it remains
within the target range even without the Russian business.
Group funding is derived from a strong base of customer deposits – primarily from the retail business in Central and
Southeastern Europe – and is supplemented by wholesale funding. In addition to funding from the regional Raiffeisen banks,
financing from other banks and financial institutions is also used. The loan/deposit ratio amounted to 82.0 per cent as of 31
December 2025 (31 December 2024: 82.7 per cent).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 19
Equity on the statement of financial position
Equity including non-controlling interests rose € 2,124 million from the start of the year to € 22,463 million.
Total comprehensive income of € 2,875 million comprises profit after tax of € 1,621 million and other comprehensive income of
€ 1,254 million. In particular, the currency movements had a positive impact of € 1,098 million on other comprehensive income.
The main driver was the appreciation of the Russian ruble by 22 per cent, contributing € 1,067 million.
Further positive effects resulted from changes in the fair value of financial assets and equity instruments totaling € 37 million.
Adjustments to the cash flow hedge reserve also made a positive contribution of € 163 million, mainly in Russia. In contrast,
there were negative contributions from deferred taxes on results recognized directly in equity, amounting to minus € 52 million.
The hedging of net investments also contributed negatively, with a minus € 15 million impact.
Total capital pursuant to the CRR/Austrian Banking
Act (BWG)
Common equity tier 1 (CET1) after deductions amounted to € 18,093 million, representing an increase of € 1,759 million
compared to the 2024 year-end figure. The main driver of the increase were foreign currency effects of € 1,072 million, mainly
from the 22 per cent appreciation of the Russian ruble and the 2025 net profit.
Tier 1 capital after deductions increased € 1,599 million to € 19,776 million. The increase was primarily attributable to effects in
CET1 while the termination of an outstanding AT1 issue slightly reduced the increase. Tier 2 capital decreased € 220 million to
€ 2,174 million due to the regulatory maturity of tier 2 instruments. Total equity amounted to € 21,951 million, representing an
increase of € 1,379 million year-on-year.
Total risk-weighted assets (RWA) increased € 5,324 million to € 100,924 million compared to the end of 2024. The main drivers
for this were the provisions of CRR III, which came into force on 1 January 2025, and led to an increase in operational risk of
€ 2,061 million. Furthermore, an increase of € 2,168 million was recorded in market risk which was mainly caused by the
appreciation of the Russian ruble (€ 1,072 million) and increases from the internal model (€ 969 million). Operational risk rose by
€ 2,312 million due to CRR III effects and the inclusion of the net profit from 2025.
This resulted in a CET1 ratio of 17.9 per cent, a tier 1 ratio of 19.6 per cent and a total capital ratio of 21.7 per cent.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
20 Group management report
· Internal control and risk
management system in
relation to the Group
accounting process
Balanced and comprehensive financial reporting is a priority for RBI and its governing bodies. Compliance with all relevant
statutory requirements is therefore a basic prerequisite. The Management Board is responsible for establishing and defining a
suitable internal control and risk management system that encompasses the entire accounting process while adhering to
company requirements. This is embedded in the company-wide framework for the internal control system (ICS).
The ICS should ensure effective and continuously improving internal controls for accounting. The control system is designed to
comply with all relevant guidelines and regulations and to optimize conditions for specific control measures in order to prevent
any unintentional misstatements.
The Group has an internal control system pertaining to financial reporting, which includes directives and instructions on key
issues as a central element. This includes:
· the hierarchical decision-making process for approving Group and company directives, as well as departmental and
divisional instructions,
· process descriptions for the preparation, quality control, approval, publication, implementation and monitoring of
directives, and instructions including related controls, as well as
· regulations for the revision and repeal of directives and instructions.
The senior management of each Group unit is responsible for implementing the group-wide instructions. Compliance with
Group rules is monitored by the following divisions Group Accounting & Financial Methodologies, Group Compliance and Group
Audit as well as through local auditors.
The consolidated financial statements are prepared by the department Group Consolidation (division Group Accounting &
Financial Methodologies), which belongs to the CFO area. The associated responsibilities are defined for the Group within the
framework of a dedicated Group function.
Control environment
To ensure a well-functioning control environment, controls must be tested to confirm their effectiveness. The ICS and its
related activities are based on a risk-based approach, which is evaluated during the annual ICS cycle. ICS officers support the
departments in prioritizing governance documents. During prioritization, the risks, governance documents, and controls to be
included in the control testing activities for the year are determined. The prioritization of risks is independently conducted by
operational risk management, and the most significant key risks are provided as input for the control review activities. In
addition to the controls conducted at the group level, group controls are defined that must be confirmed by the respective
group units.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 21
Risk assessment
Significant risks relating to the Group accounting process are evaluated and monitored by the Management Board. Complex
accounting methodologies and procedures can increase the risk of errors, as can the use of differing valuation standards,
particularly in relation to the Group’s principal financial instruments. A difficult business environment can also increase the risk
of significant financial reporting errors. For the purpose of preparing the consolidated financial statements, estimates have to
be made for asset and liability items for which no market value can be reliably determined. This essentially applies to risk
provisions in the lending business, fair value and impairment of financial instruments, deferred taxes, provisions for pensions
and pension-like obligations as well as provisions for legal cases.
Control measures
The preparation of financial information on an individual Group unit level is decentralized and carried out by the respective
Group unit in accordance with RBI guidelines; the calculation of parts of the impairment charges under IFRS 9 is, however,
carried out centrally. The Group unit employees and the managers responsible for accounting are required to provide a full
presentation and accurate valuation of all transactions. The local management is responsible for ensuring implementation of
mandatory internal control measures, such as the separation of functions and the principle of dual control. The reconciliation
and validation controls are embedded in the aggregation, calculation, and accounting valuation activities for all financial
reporting processes. Particular focus is placed on the controls for the core processes that play a fundamental role in the
preparation of the financial statements. This primarily relates to processes which are relevant for valuations, the results of
which have a significant impact on the financial statements (e.g. valuation of credit risk provisions, derivatives, equity
participations, provisions for personnel expenses and market risk).
Consolidation
The financial statement data are automatically transferred to the IBM Controller consolidation system. The IT system is kept
secure by limiting access rights.
The plausibility of each Group unit’s financial information is initially checked by the responsible key account manager in the
department Group Consolidation. Group-level control activities comprise the analysis and, where necessary, modification of
the financial statements submitted by Group units. In this process, the results of internal meetings as well as comments from
the Group units and comments from external reviews are taken into account. Both the plausibility of the reporting package as
well as critical matters pertaining to the Group unit are acknowledged.
The subsequent consolidation steps are performed using the consolidation system, including capital consolidation, expense
and income consolidation, and debt consolidation. Finally, intra-group gains are eliminated where applicable. At the end of the
consolidation process, the notes to the financial statements are prepared in accordance with IFRS and the BWG/UGB.
All control measures constitute part of the day-to-day business processes and are used to prevent, detect and correct any
potential errors or inconsistencies in the financial reporting. Control measures range from monitoring of complete and updated
scope of consolidation, process controls of the consolidation steps, to account reconciliation, to the managerial review of the
results for the period.
The consolidated financial statements and management report are reviewed by the Audit Committee of the Supervisory Board
and are also presented to the full Supervisory Board for its information.
Information and communication
The consolidated financial statements are prepared using group-wide standardized data requirements. The accounting and
valuation standards are defined and explained in the RBI Group Accounts Manual and must be applied when preparing the
financial statements. Detailed instructions for the Group units on measuring credit risk and similar issues are provided in the
Group directives. The relevant units are kept abreast of any changes to the instructions and standards through regular training
courses.
Each year the annual report contains the consolidated results in the form of a complete set of consolidated financial
statements. In addition, the group management report contains comments on the consolidated results and the consolidated
non-financial statement.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
22 Group management report
Throughout the year, consolidated monthly reports are produced for the RBI Management Board. The published statutory
interim reports conform to the provisions of IAS 34 and are produced on a quarterly basis. Before publication, the consolidated
financial statements are presented to senior managers and Management Board members for final approval and then
submitted to the Supervisory Board’s Audit Committee. Analyses pertaining to the consolidated financial statements are also
provided for management, as are forecast Group figures at regular intervals. The financial and capital planning process,
undertaken by the department Group Planning, Reporting & Analysis, includes a three-year Group budget.
Monitoring
Financial reporting is a primary focus of the ICS framework, whereby financial reporting processes are subject to risk-based
prioritization and control examinations with results regularly reported to the Management Board and the Supervisory Board for
evaluation. Additionally, the Audit Committee is required to monitor the financial reporting process. The Management Board is
responsible for ongoing company-wide monitoring.The ICS manages governance, risk, and control activities using the classic
Three Lines of Defense Concept.
The first line of defense consists of individual departments, whereby department heads are responsible for monitoring their
business areas and ensuring that an appropriate control environment is established. The departments conduct risk
assessments, plausibility checks and control activities on a regular basis, in accordance with the documented processes.
Independent functions such as Compliance, Data Quality Governance, Operational Risk Controlling or Security & Business
Continuity Management form the second line of defense. Their primary aim is to support and advise the specialist areas in the
first line of defense with their control processes, to review the effectiveness of control executed in the first line of defense and
to facilitate the adaption of leading practices within the organization.
Internal audits are the third line of defense in the monitoring process. The responsibility for auditing lies with Group Internal
Audit and the respective internal audit departments of the Group units. All internal auditing activities are subject to the Group
Audit Standards, which are based on the Austrian Financial Market Authority’s minimum internal auditing requirements and
international best practices. Group Internal Audit’s internal rules also apply (notably the Audit Charter). Group Audit regularly
and independently verifies compliance with the internal rules within the RBI Group units. The head of Group Internal Audit
reports directly to the Management Board, with additional reporting obligations to the Chairman of the Supervisory Board and
members of the Audit Committee of the Supervisory Board.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 23
· Capital, share, voting, and
control rights
The following disclosures satisfy the provisions of § 243a (1) of the Austrian Commercial Code (UGB):
(1) As at 31 December 2025, the company’s share capital amounted to € 1,003,265,844.05 and was divided into 328,939,621
voting common bearer shares. As at 31 December 2025, 698,767 (31 December 2024: 525,274) of those were own shares, and
consequently 328,240,854 shares were outstanding at the reporting date.
Please see note (29) Equity and non-controlling interests for further disclosures.
(2) The Articles of Association contain no restrictions concerning voting rights or the transfer of shares. The regional Raiffeisen
banks and direct and indirect subsidiaries of the regional Raiffeisen banks are parties to a syndicate contract (syndicate
agreement) regarding RBI AG. The terms of this syndicate agreement include not only a block voting agreement and
preemption rights, but also a prohibition on sales of the RBI shares held by the regional Raiffeisen banks (with few exceptions) ,
if the sale would reduce the regional Raiffeisen banks’ aggregate shareholding in RBI AG (direct and/or indirect) to less than 40
per cent of the share capital plus one share.
(3) Raiffeisenlandesbank Niederösterreich-Wien AG holds directly and indirectly total around 25.00 per cent of the share capital
of the company. By virtue of the syndicate agreement regarding RBI AG, the regional Raiffeisen banks and their direct and
indirect subsidiaries as parties acting in concert as defined in § 1 (6) of the Austrian Takeover Act (ÜbG). The regional Raiffeisen
banks hold a total of around 61.17 per cent of the voting rights. The remaining shares of RBI AG are held in free float, with no
other direct or indirect shareholdings amounting to 10 per cent or more known to the Management Board.
(4) The Articles of Association do not contain any special rights of control associated with holding shares. According to the
syndicate agreement for RBI AG, the regional Raiffeisen banks can nominate nine members of the RBI AG Supervisory Board. In
addition to the members nominated by the regional Raiffeisen banks, the RBI AG Supervisory Board should also include three
independent representatives of free-float shareholders who are not attributable to the Austrian Raiffeisen Banking Group.
(5) There is no control of voting rights arising from interests held by employees in the share capital.
(6) Pursuant to the Articles of Association, a person who is aged 68 years or older may not be appointed as a member of the
Management Board or be reappointed for another term in office. The rule for the Supervisory Board is that a person who is
aged 75 years or older may not be elected as a member of the Supervisory Board or be re-elected for another term in office.
Moreover, no person who already holds eight supervisory board mandates in publicly traded companies may be a member of
the Supervisory Board. Holding a position as chairman of the supervisory board of a publicly traded company would count
twice for this purpose. The Annual General Meeting may choose to waive this restriction through a simple majority of votes if
permitted by law. Any candidate who has more mandates for, or chairman positions on, supervisory boards in publicly traded
companies must disclose this to the Annual General Meeting. There are no further regulations regarding the appointment or
dismissal of members of the Management Board and the Supervisory Board beyond the provisions of the relevant laws. The
Articles of Association stipulate that the resolutions of the Annual General Meeting are, provided that there are no mandatory
statutory provisions to the contrary, adopted by a simple majority of the votes cast. Where the law requires a capital majority
in addition to the voting majority, resolutions are adopted by a simple majority of the share capital represented in the votes. As
a result of this provision, members of the Supervisory Board may be dis-missed prematurely by a simple majority. The
Supervisory Board is authorized to adopt amendments to the Articles of Association that only affect the respective wording.
This right may be delegated to committees. Furthermore, there are no regulations regarding amendments to the company
Articles of Association beyond the provisions of the relevant laws.
(7) Pursuant to § 169 of the Austrian Stock Corporation Act (AktG), the Management Board has been authorized since the
Annual General Meeting of 4 April 2024 to increase the share capital with the approval of the Supervisory Board – in one or
more tranches – by up to € 501,632,920.50 through the issuance of up to 164,469,810 new voting common bearer shares in
exchange for contributions in cash and/or in kind (including by way of the right of indirect subscription by a bank pursuant to §
153 (6) of the AktG) by 16 May 2029 at the latest and to fix the offering price and terms of the issue with the approval of the
Supervisory Board. The Management Board is further authorized to exclude shareholders’ subscription rights with the approval
of the Supervisory Board (i) if the capital increase is carried out in exchange for contributions in kind, or (ii) if the capital
increase is carried out in exchange for contributions in cash and the shares issued under the exclusion of subscription rights do
not exceed 10 per cent of the company’s share capital (exclusion of subscription rights). The (i) utilization of authorized capital
with exclusion of the statutory subscription right in the event of a capital increase in return for a contribution in cash, and the
(ii) implementation of the conditional capital resolved upon in the Annual General Meeting on 26 March 2025 in order to grant
conversion or subscription rights to convertible bond creditors may not exceed 10 per cent in total of the share capital of the
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
24 Group management report
company. The utilization of the authorized capital in the form of a capital increase in return for a contribution in kind is not
covered by this restriction.
Since then, this authorization from April 2024 has not been utilized.
The share capital is conditionally increased (conditional capital) pursuant to § 159 (2) 1 of the AktG by up to € 100,326,584 by
issuing of up to 32,893,962 ordinary bearer shares. The conditional capital increase will only be implemented to the extent that
use is made of an irrevocable right of conversion into or subscription to shares which the company grants to the creditors
holding convertible bonds issued on the basis of the resolution passed at the Annual General Meeting on 26 March 2025 within
five years from the date of the resolution, thus by March 25, 2030, or in the event of having to fulfil a conversion obligation set
out in the convertible bonds’ terms of issuance. In both cases, the Management Board does not decide to allocate own shares.
The issue price and the conversion ratio are to be calculated in accordance with recognized quantitative financial
methodologies and the price of the company’s shares in a recognized pricing procedure (calculation basis of the issuance
price); the issue price may not be below the proportionate amount of the share capital. The newly issued shares from the
conditional capital increase are entitled to a dividend equivalent to those of the existing shares. The Management Board was
authorized, to determine the further details of the share issuance based on the terms and conditions of the convertible bonds..
The Management Board was further authorized pursuant to § 174 (2) of the AktG by the Annual General Meeting on 26 March
2025, within 5 years from the date of the resolution, i.e. until 25 March 2030, with the consent of the Supervisory Board, to issue
also in several emissions, convertible bonds with rights to convert into or subscribe to shares of the company or convertible
bonds with conversion obligations (contingent convertible bonds pursuant to § 26 of the Banking Act), including convertible
bonds that meet the requirements for Additional Tier 1 capital instruments pursuant to Regulation (EU) No. 575/2013 of the
European Parliament and the Council of 26 June 2013 on supervisory requirements for credit institutions and investment firms,
as amended, with full exclusion of shareholders’ subscription rights. The authorization includes the issuance of convertible
bonds in a total nominal amount of up to € 1,000,000,000 with rights to convert into or subscribe to up to 32,893,962 ordinary
bearer shares of the company with a proportionate amount of the share capital up to € 100,326,584. The issue price and the
conversion ratio are to be calculated in accordance with recognized quantitative financial methodologies and the price of the
company shares in a recognized pricing procedure (calculation basis of the issuance price); the issue price of the convertible
bonds may not be below the proportionate amount of the share capital. In this respect, the Management Board is authorized
to determine all further issuance and structural features as well as the issuance terms and conditions of the convertible bonds,
in particular the interest rate, issue price, term of validity and denomination, provisions protecting against dilution, conversion
period, conversion rights and obligations, conversion ratio and conversion price. The convertible bonds may also be issued –
observing the limit of the corresponding equivalent value in euros – in the currency of the United States of America and in the
currency of any other Organization for Economic Cooperation and Development (OECD) member state.
This authorization supersedes the authorization resolved by the General Meeting on 20 October 2020 pursuant to section 174
(2) of the Austrian Stock Corporation Act (AktG) for the issuance of convertible bonds, which was revoked with effect from 26
March 2025. No convertible bonds have been issued either on the basis of the revoked authorization of October 2020 or under
the currently valid authorization of March 2025.
The Annual General Meeting held on 4 April 2024 authorized the Management Board pursuant to § 65 (1) 8, § 65 (1a) and § 65 (1b)
of the AktG to purchase own shares and to retire them if appropriate without requiring any further prior resolutions to be
passed by the Annual General Meeting, though with the approval of the purchase by the Supervisory Board can also be
effected off-exchange under the exclusion of the shareholders’ pro rata tender right. Own shares, whether already purchased
or to be purchased, may not collectively exceed 10 per cent of the company’s share capital. The authorization to purchase own
shares expires 30 months after the date of the Annual General Meeting resolution, i.e. until 4 October 2026. The acquisition
price for repurchasing the shares may be no lower than € 3.05 per share and no higher than 10 per cent above the average
unweighted closing price over the 10 trading days prior to exercising this authorization. The authorization may be exercised in
full or in part or also in several partial amounts, for one or more purposes – with the exception of securities trading – by the
company, by a subsidiary (§ 189a (7) of the UGB) or by third parties for the account of the company or a subsidiary.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 25
The Management Board was further authorized, pursuant to § 65 (1b) of the AktG, to decide, with the approval of the
Supervisory Board, on the sale of own shares by means other than the stock exchange or a public tender, to the full or partial
exclusion of shareholders’ subscription rights, and to stipulate the terms of sale. Shareholders’ subscription rights may only be
excluded if the own shares are used to pay for a contribution in kind, to acquire enterprises, businesses, operations or stakes in
one or several companies in Austria or abroad. Furthermore, shareholders’ subscription rights may be excluded in the event
that convertible bonds are issued in future, in order that (own) shares may be issued to such convertible bond creditors that
have exercised their right of conversion into or subscription to shares in the company, and also in the event of a conversion
obligation stipulated in the convertible bonds’ issuance conditions in order to fulfil this conversion obligation. This authorization
may be exercised in whole, in part or in several partial amounts for one or more purposes by the company, a subsidiary (§ 189a
7 UGB) or by third parties for the account of the company or a subsidiary and remains in force for five years from the date of
this resolution, i.e. until 4 April 2029.
Since then, no treasury shares have been acquired under this authorization of April 2024.
The Annual General Meeting of 4 April 2024 also authorized the Management Board, under the provisions of § 65 (1) 7 of the
AktG, to purchase own shares for the purpose of securities trading, which may also be conducted off-market, during a period
of 30 months from the date of the resolution (i.e. until 4 October 2026), provided that the trading portfolio of shares purchased
for this purpose does not at the end of any given day exceed 5 per cent of the company's respective share capital. The
consideration for each share to be acquired must not be less than half the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition and must not exceed twice the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition. This authorization may be exercised in full or in part or also in several partial
amounts by the company, by a subsidiary (§ 189a (7) UGB) or by third parties acting for the account of the company or a
subsidiary.
Since then, no own shares have been purchased for the purpose of securities trading on the basis of the authorization of April
2024.
(8) The following material agreements exist, to which the company is a party, and which take effect, change, or come to an
end upon a change of control in the company as a result of a takeover bid:
· RBI AG is insured under a group-wide D&O policy. In the event of a merger with another legal entity, the insurance
policy would automatically cease at the end of the insurance period in which the merger took effect. In such cases,
insurance cover only exists for claims for damages arising from breaches of obligations that occurred before the
merger, which are reported to the insurer prior to the termination of RBI AG’s group-wide D&O insurance cover.
· RBI AG is a member of the Professional Association of Raiffeisen Banks. Upon a change in control of RBI AG which
results in the attainment of control by shareholders outside of the Raiffeisen Banking Group Austria, membership of
the Professional Association of Raiffeisen Banks, as well as that of the Raiffeisen-IPS pursuant to Art. 113 (7) of the
CRR, the Österreichische Raiffeisen-Sicherungseinrichtung eGen and of the Raiffeisen Customer Guarantee Scheme
Austria may be terminated. RBI AG also serves as the central institution of the Raiffeisen Banking Group at a national
level. Upon a change in control of RBI AG, related contracts (central institution of the liquidity group pursuant to § 27a
of the BWG may end or change.
· The company’s refinancing agreements and agreements concerning third-party financing for subsidiaries, which are
guaranteed by the company, stipulate in some cases that the lenders can demand early repayment of the financing
in the event of a change in control.
(9) There are no indemnification agreements between the company and its Management Board and Supervisory Board
members or employees that would take effect in the event of a public takeover bid.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
26 Group management report
· Risk management
For information on risk management, please refer to the risk report in the consolidated financial statements.
· Corporate Governance
Further information can be found in the corporate governance report chapter of the annual report, as well as on the RBI
website (www.rbinternational.com → Investors → Corporate Governance & Remuneration).
· Intangible resources
In a very dynamic business environment, intangible resources are becoming increasingly important and represent a key driver
for sustainable business and key value drivers for companies. These intangible value drivers can only be inadequately
represented in standard financial reporting. There are a large number of intangible resources such as product and technology
innovations, brands, customer satisfaction, employee qualifications and motivation.
RBI sees its main intangible resources primarily in the human resources and innovation areas.
For further information on RBI's intangible resources, please refer to the following chapters in the group management report:
· Research and development
· Human resources
· Consolidated non-financial statement - subchapter: Workers in the value chain
Research and development
Digitalization
In 2025, RBI's retail digitalization strategy continued to focus on enhancing customer experiences and promoting sustainable
growth via digital channels. Mobile banking remains a pivotal aspect of this strategy, with 70 per cent of customers actively
using these services.
Customer acquisition via digital channels is a priority 63 per cent of new retail customers were initiated digitally in 2025, up
from 48 per cent in 2024.
RBI expanded its digital offerings, with 70 per cent of personal cash loans now being facilitated through digital platforms and
38 per cent being end-to-end digital.
Innovative solutions, such as end-to-end mobile account opening for SMEs and integration of conversational AI assistants in
apps aims to position RBI as a leader in digital banking. These solutions increased the lifetime contribution value from digital
sales in total Retail sales from 44 per cent in 2024 to above 56 per cent in 2025.
In Corporate and Investment Banking, the myRaiffeisen digital platform had 12.000 registered users at the end of 2025.
Digitized key products (e. g. KYC, accounts, lending) resulted in a digital service penetration ratio of approx. 45 per cent.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 27
Future priorities will focus on improving digital onboarding, providing group-wide cash management solutions and broadening
the API offering beyond traditional payment integrations.
Innovation areas
In line with its commitment to innovation, RBI offered group-wide educational programs and events to its employees in 2025.
Its central innovation team additionally continued exploring new business models, with a specific focus on small and mid-sized
enterprises.
In 2025, RBI also continued to integrate artificial intelligence (AI) into business through three pillars: group AI governance, use
case evaluation and implementation, and change management and employee development. All employees have access to AI-
powered tools, and are supported by a network of internal change agents known as the AI pioneers.
RBI’s innovation research continued to focus on blockchain technology in 2025. An internal strategy for crypto and digital assets
was adopted, outlining future plans for new business models and infrastructure development.
In September 2025 RBI announced its participation as a founding member of a cross-European stablecoin consortium together
with eight other banks. The consortium plans to launch an MiCAR (Markets in Crypto-Assets Regulation)-compliant euro-
denominated stablecoin and aims to become a trusted European payment standard in the digital ecosystem. The stablecoin
consortium has formed a new company in the Netherlands, which expects to start issuing stablecoins in the second half of
2026. Individual banks will be able to provide value added services and build products based on stablecoins, such as a
stablecoin wallet.
IT
The digitalization measures approved by the Management Board in the areas of cloud migration, technological leadership, and
data centricity continued to be pursued in 2025. According to AWS benchmarking within the peer group of banks, RBI is among
the leaders in cloud technology both in Europe and globally. More than 55 per cent of all IT applications run in the cloud,
compared to 13 per cent in 2021. In the data domain, RBI established powerful group-wide platforms to ensure data scaling to
create value for its customers, for internal steering purposes and to meet regulatory requirements. All data platforms operate
on cloud environments to optimize costs and increase flexibility, thereby positioning RBI effectively to meet evolving artificial
intelligence demands. Additionally, RBI has launched a comprehensive internal AI transformation to ensure responsible
adoption across the organization. In recognition of these efforts, RBI was named the regional winner for Western Europe in the
category Best Corporate/Institutional Bank for AI in Finance) in the Finance Awards 2025.
Human Resources
The Group People, Culture & Organization (PC&O) division combines the areas of Human Resources (HR) and Organizational
Development and Change Management. Combining these areas into a single division enables the Group to forge an integrated
approach to staff leadership, culture and organizational development. In this respect, the PC&O division makes a significant
contribution to the implementation of the RBI strategy and corporate objectives. A particular focus is placed on the efficient
and seamless execution of personnel processes, encompassing tasks such as data administration, contract preparation or
recruitment. In addition, the division is responsible for personnel development, career management, leadership development as
well as professional education and training. In the area of organizational development, PC&O extends support for all
restructurings and transformations within the Group, not least through change management and organizational design.
In 2025, RBI AG was honored multiple times as an employer of choice; these awards included Kununu Top Company 2025, Trend
& Statista: Best Place to Work and Leading Employers Top 1 per cent Austria 2025. To maintain this position in future too, it is
important for the company to be aware of the expectations and demands of employees and potential applicants, and to
position itself accordingly. Current labor market trends show that employees have a considerable need for job security, while
at the same time placing great value on flexibility, work-life balance and mental wellbeing. People, and therefore also the
employees, are greatly concerned about factors such as inflation which results in a high need for security and stability. .
Innovations such as artificial intelligence (AI) are met with great curiosity on the one hand and with caution on the other. The
rapid developments in the area of generative AI offers many opportunities for RBI. AI holds the potential to revolutionize the
way people work and enhance efficiency. RBI’s employees are therefore encouraged to explore the technology and consider
how it could be used. Besides the possibility for using a version of ChatGPT tailored specifically to RBI, an AI platform available
in the intranet provides information about current developments and learning opportunities. In addition, new, AI-based
systems were introduced to make HR processes simpler, more efficient and more effective. This represents another step in
RBI’s technology and automation strategy.
The employer value proposition (EVP) is the essence of a brand from the employer perspective and comprises offers,
advantages, incentives and the working environment a company provides to its employees. In its Glocal EVP approach, RBI
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
28 Group management report
combines the EVP of the entire Group with the local EVPs of the subsidiary banks. This creates an international employer brand
that guarantees consistency but takes special local features into account at the same time.
Promoting an attractive and high-performing work culture is decisive for corporate success. Employee surveys offer a
representative overview of the experiences within the company as a whole, and serves as input for discussions and targeted
initiatives aimed at further increasing employees’ commitment. Following the implementation of a new group-wide survey tool,
another survey of the employees at head office was conducted in September.
Against the backdrop of the strong international structure, there was an increase in employees’ desire to also work in other
countries. Since July 2023, RBI AG is the first bank in Austria to allow its employees to work at locations in other EU countries for
a certain period of time. The offer has been well received across all hierarchical levels.
As learning and continuous development contribute significantly to career satisfaction, learning as a matter of course in
everyday work in order to keep pace with technological developments. The focus is on:
· Promoting a culture of learning, thereby repositioning learning as a priority within the company culture
· Developing a competency in and a flexible approach to leaning
· Achieving a higher level of automation and simplification through the use of new technologies
· Producing a portfolio of relevant learning content
· Devising uniform standards and quality criteria for learning formats and content (in terms of their approach to
didactics, learning psychology and technology)
The retention of employees is influenced by various factors, including the quality of work relationships, the level of job and
career satisfaction, and personal performance. To enhance retention, teams receive development support through a series of
workshops, with a special focus on fostering mutual trust, open communication, and effective collaboration methods.
Managers receive support to optimize their role and guide their teams through periods of uncertainty and change, while giving
due consideration to the individual needs and expectations of their team members. The training concentrated on bolstering
individual resilience, fostering a common understanding of managerial expectations, and incorporating peer coaching and
communication techniques.
An internal team specializing in change management and change communication provides optimal support for a wide array of
transformations, ranging from minor reorganizations to significant overhauls. The goal is to properly equip managers and
employees for the transformation process, guide them through the process, garner their commitment to the change, and
provide support to individuals and teams throughout the change journey.
Artificial Intelligence (AI) holds the potential to revolutionize
the way people work and enhance overall efficiency.
Employees are encouraged to explore AI and consider how
it could be used at RBI. Diverse learning formats, including
eLearning, are offered to deepen employees’
comprehension of AI and machine learning and discover
the possibilities of this new technology while gaining
insights into its limitations and potential challenges. With
the AI Pioneers Program, there are around 200 employees
at head office and around 1,700 across the group who are
acquiring knowledge about AI and passing it on to their
colleagues, thereby bringing efficiency to their teams.
Personnel development
As at 31 December 2025, RBI had 42,425 employees (full-
time equivalents), which was 139 less than at the end of
2024.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 29
· Outlook
Economic outlook
Economic trends in the euro area in 2026 are expected to slightly accelerate. Growth is expected to be somewhat more
balanced across industries and countries. Manufacturing is likely to emerge from the recession and thereby catch up
somewhat with the service sector. Differences among the countries should also diminish, although Austria is likely to remain
among the worst performers in the euro area in 2026. While US tariffs are dampening exports, economic activity is being
supported by higher defense spending, German infrastructure investments and the latest ECB rate cuts. The ECB is expected to
keep the deposit rate unchanged, while the US Federal Reserve is likely to continue lowering interest rates. There is a risk that
the US Federal Reserve might overshoot its target somewhat for political reasons. Trade barriers are likely to continue exerting
pressure on global commerce in 2026, although trade disputes are not expected to escalate significantly. Despite initial hopes
sparked by Trump’s peace efforts at the beginning of his presidency, a swift end to the war in Ukraine remains unlikely. Russia
appears to be playing for time as the negative effects of sanctions are becoming increasingly evident. In general, the
geopolitical environment remains challenging, which is reflected in a higher degree of uncertainty in forecasts.
Growth in Central Europe (CE) is expected to accelerate modestly in 2026. However, fiscal consolidation in Hungary, Poland
and Slovakia poses a risk to growth and is likely to emerge as a key issue for the current year. A robust labor market and
continued strong wage growth (albeit at a slower pace) remain positive factors for consumption. While the geopolitical
backdrop is likely to remain challenging, there is hope that Germany’s investment package and EU defense spending could
provide a stimulus that might ease fiscal pressures. EU funds are expected to continue driving investment in 2026 (except in
Hungary). Growth is expected to be strongest in Poland, which is benefiting from the delayed disbursement of EU funds. The
Czech Republic is likely to remain resilient, whereas Slovakia and Hungary face the largest downside risks.
Growth should remain solid in most economies in Southeastern Europe (SEE) in 2026. Expansion is expected to be driven
primarily by consumption, supported by robust wage growth amid tight labor markets, and by investment, including projects
associated with the EU’s Western Balkans enlargement. Romania is expected to remain the laggard in the region due to long-
overdue fiscal consolidation. Although the risk of sanctions against Serbia has recently decreased, uncertainty surrounding
possible new elections and the political environment is creating downside risks for the investment-driven growth model.
Ongoing attacks on civilian targets and energy infrastructure pose significant challenges for Ukraine. Compounding the
situation is the risk presented by the US’s changing stance on providing support. Even so, the economy is expected to remain
resilient in the fifth year of the war. Reconstruction efforts and the adaptability of Ukrainian businesses should persist. In
addition, there are impulses from the war economy and support for consumption from rising wages due to tight labor markets.
The Russian economy is expected to continue cooling in 2026, keeping the country on a low-growth trajectory. Additional
sanctions imposed by Trump and heightened pressure on importers of Russian oil represent downside risks. Nevertheless, the
Russian economy is still assumed to be headed for a soft landing. Easing inflation should give the central bank room to cut
interest rates.
Austria’s growth rate is expected to pick up slightly in 2026; however, at an estimated 1.0 per cent, its growth will still likely fall
behind that of the euro area. Private consumption is expected to provide momentum, while investment is assumed to offer
only limited support. Manufacturing is likely to expand moderately, though pricing competitiveness, which declined sharply in
prior years, is anticipated to reduce the pace. For the construction sector, however, a continuation of the recession cannot be
ruled out. Inflation is expected to be down significantly year on year due to the elimination of energy-related base effects that
drove up inflation in the previous year.
Banking sector in Austria
The decline in interest rates left its mark on both loan growth and the profitability of Austrian banks in 2025. Positive demand
for residential construction loans throughout 2025, along with rising demand in the corporate segment toward year-end,
points to a partial, ongoing recovery in lending in 2026. Stronger growth (p.a.) is expected in residential construction loans,
whereas growth rates (p.a.) in the corporate segment are likely to remain subdued given the macroeconomic outlook.
Household loan portfolios (including residential construction) are expected to maintain a very solid performance (NPL ratio),
while corporate loan portfolios and their asset quality remain a key focus for the banking sector. Corporate loan segments in
the commercial real estate sector and SME segments are particularly likely to drive elevated risk costs again in 2026. Expected
interest rates could increase margin and cost pressure over the course of 2026 and, together with the aforementioned risk
costs, affect profitability. That said, a generally steeper yield curve should provide some support for profitability. On balance,
the Austrian banking sector appears fundamentally well positioned to master the challenges ahead.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
30 Group management report
CEE banking sector
A solid private consumption trend and stabilized interest rates should benefit the retail lending business, though growth will
likely weaken somewhat from its relatively high level in 2025. At the same time, the potential for additional macroprudential
tightening (such as extra capital buffers or borrower-based measures) should be factored in since central banks may seek to
limit excessive credit expansion in certain products. For example, the positive trajectory in residential construction lending has
already contributed to rising residential real estate prices (particularly in Hungary, Croatia, Slovakia, and the Czech Republic).
This trend could continue in 2026, both nominally and in real terms. In the corporate segment, loan volumes are expected to be
somewhat supported by a moderate investment recovery. This recovery, in turn, will likely be driven by the ongoing inflow of EU
funds and potential positive spillover effects from Germany’s investment package. Poland is likely to stand out particularly
positively in this context with near double-digit growth in corporate loans. In the larger CE/SEE markets, country-specific risks
(notably in Hungary and Romania) are expected to impede a broader catch-up process and will also shape asset quality trends.
Net interest margins are expected to stabilize in 2026, with positive effects on earnings, while banks will continue to grapple
with inflation-driven cost pressures and special bank taxes, including planned increases in Poland, Hungary and Romania.
RBI’s outlook for 2026
The following guidance refers to RBI excluding Russia:
· In 2026, net interest income is expected around € 4.4 billion and net fee and commission income around € 2.1 billion.
· RBI expects loans to customers to grow by around 7 per cent.
· RBI expects general administrative expenses around € 3.6 billion, resulting in a cost/income ratio of around 52.5 per
cent.
· The provisioning ratio is expected to be around 35 basis points.
· The consolidated return on equity is expected to be around 10.5 per cent in 2026.
· At year-end 2026, RBI expects a CET1 ratio of above 15 per cent*.
· In the medium term, RBI aims to achieve a consolidated return on equity of at least 13 per cent excluding Russia and
excluding provisions and legal cost for foreign currency loans in Poland.
*In a ‘P/B Zero‘ Russia deconsolidation scenario.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 31
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
32 Group management report
Consolidated non-financial
statement
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 33

General information | 35
Basis of preparation | 35
Governance | 37
Strategy related to sustainability | 50
Impact, risk and opportunity management | 60
Environmental information | 77
Regulatory disclosure requirement in accordance with Article 8 of the EU Taxonomy Regulation | 77
Climate change | 252
Biodiversity and ecosystems | 277
Resource use and circular economy | 279
Social Information | 282
Own workforce | 282
Workers in the value chain | 303
Affected communities | 309
Consumers and end-users | 319
Governance | 333
Business conduct | 333
Responsible banking progress statement for PRB signatories | 343

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
34 Group management report
Reduction of financed CO 2 emissions
Targets 2030
Corporate loans:
Reduction of financed emissions
by 27 % compared to 2023
Investment funds:
Reduction of financed emissions
by 50 % compared to 2020
CO 2 reduction
Corporate loans:
35 tCO 2 e/€ million since 2024
Investment funds:
11 tCO 2 e/€ million since 2024
ESG portfolio
Target 2025 achieved:
20 % of corporate loans are
ESG-compliant
Target 2025 achieved:
10 % of new business volume in
the retail segment are green and
social loans
Financing with a positive impact
· on social topics
· on the environment and
the climate
Corporate and
institutional customers
Corporate and
institutional customers
Retail/
mortgage loans
Small and medium-
sized enterprises (SMEs)
in € million
in € million
2024: not available
2024: not available
New volume
Green mortgage loans
2025: € 625 million
2024: € 318 million
New volume
Social loans for SMEs
2025: € 1,063 million
2024: € 1,110 million
Volume of sustainable investment funds
2025: € 26 billion 2024: € 25 billion
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 35
General information
Basis of preparation
BP-1: General basis for preparation of the consolidated non-financial statement
This consolidated non-financial statement provides information on RBI’s sustainability agendas and activities for the reporting
year 2025. This chapter of the group management report contains RBI’s summarized consolidated non-financial statement
according to Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation
(EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability
reporting (Corporate Sustainability Reporting Directive – CSRD) and local law (pursuant to section 267a of the Austrian
Commercial Code) and the Austrian Sustainability and Diversity Improvement Act (Nachhaltigkeits- und Diversitäts-
verbesserungsgesetz - NaDiVeG). In this statement, RBI describes the direct and indirect economic, environmental and social
impacts of business activities for the 2025 reporting year that were deemed material. In addition to the ESRS, the consolidated
non-financial statement takes into account further requirements of other stakeholders (see chapter SBM-2: Interests and
views of stakeholders).
RBI reports its sustainability strategy, the related environmental and social impacts, the associated financial risks and
opportunities, the actions taken and how RBI manages them as well as how stakeholders’ views were considered. The reported
key figures relate to RBI as a group unless otherwise stated. The consolidated non-financial statement is published annually.
Deloitte Audit Wirtschaftsprüfungs GmbH has been engaged to independently audit the consolidated non-financial statement
for the 2025 reporting year with limited assurance.
RBI has not made use of the option to omit certain information concerning intellectual property, know-how, or the results of
innovations nor the option to omit pending developments or matters in the course of negotiation. The consolidated non-
financial statement covers upstream and downstream value chains as defined in the chapter entitled Definition of value chain.
Scope of consolidation
The scope of consolidation of the consolidated non-financial statement is the same as for the consolidated financial
statements. Further information regarding the scope of consolidation can be found in the consolidated financial statements in
(59) Group composition.
BP-2: Disclosures in relation to specific circumstances
Time horizons
For climate-related and environmental risks, RBI differentiates between the impact expected in the short, medium and long
term in line with the European Central Bank (ECB) guide on managing climate-related and environmental risks. As the planning
horizon and average loan tenor are typically shorter than the time horizon in which the effects of climate change and
environmental degradation would primarily arise, a forward-looking approach is considered.
· Short term (up to three years) – risks mainly associated with transition risks (e.g. changes in legislation and
regulation, changes in technology), i.e. the ability of companies and customers to achieve the transition to a
sustainable economy. RBI sees opportunities both from supporting its customers with financing that allows them to
achieve the transition to a low-carbon economy as well as potentially increasing RBI’s financing directed at
industries that are already green (e.g. renewables) and supporting industries that are contributing to the
development of a circular economy. Nevertheless, RBI has also observed a higher propensity of physical risks
occurring (e.g. the recent floods in Central and Eastern Europe).
· Medium term (more than three years, up to ten years) – risks driven by the paradigm shift in business models, the
emergence of new technologies and continuous updating of regulations, with potentially increasing risks from a
physical perspective (if CO 2 reduction is not achieved as targeted). Both physical and transition risks will pose
challenges. For example, transition risks might materialize via a technology transmission channel if innovations
result in old technologies that RBI has invested in becoming outdated and unprofitable. On the other hand,
investments in new technologies can also fail. Regulatory risk in connection with stricter environmental protection
laws and regulations can make existing investments less profitable or unprofitable. The withdrawal of investors
from the fossil energy sector is an indication that a decline of the value of the respective assets is to be expected in
the medium term (carbon bubble). On the other hand, RBI sees good opportunities in investments in new
technologies as well phase-out of investments in coal.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
36 Group management report
· Long term (more than ten years) –The challenges posed by climate and environmental risks arise from physical risks,
their impact on customers’ business models and supply chains as well as on their ability to mitigate and ensure that
their repayment capacity is not severely affected. In the event of an inadequately controlled climate transition, long-
term scenario analyses indicate significant losses, particularly for carbon-intensive industries.
Sources of estimation and outcome uncertainty
Quantitative information about key value chain activities is often based on averages, assumptions and estimates. RBI
attempts to obtain sustainability data directly from its customers. Where this is not possible, external data or sector averages
are used. In most cases several data sources are used. As more sustainability-related information becomes available and
standardized, RBI expects to be able to reduce the associated estimation uncertainty in the value chain. The main metrics
applied by RBI, using estimates based on indirect sources, are scope 3 emissions. Therefore, when reporting metrics or
monetary amounts, a high degree of measurement uncertainty should be expected. RBI provides data-quality information in
alignment with the Partnership for Carbon Accounting Financials (PCAF) — Global GHG Accounting and Reporting Standard,
Part A: Financed Emissions (Second Edition). For corporate customers as well as for project finance , RBI has developed an ESG
customer score by measuring the impact of ESG-related risk through individual scores. More information can be found in
chapter ESG customer score.
Disclosures stemming from other legislation or generally accepted sustainability reporting
pronouncements
Principles for Responsible Banking
In 2021, RBI became an official signatory of the Principles for Responsible Banking (PRB), and was the first Austrian banking
group to do so. The PRB form a single worldwide framework for a sustainable banking industry developed through a global
partnership between banks and the United Nations Environment Programme Finance Initiative (UNEP FI). More information can
be found in chapter G1-1: Corporate culture.The chapter Responsible banking progress statement for PRB signatories
documents how RBI plans to implement the principles for responsible banking and what progress has been made.
Regulatory disclosure of ESG risks
Since the 2022 financial year, it has been mandatory to comply with the Implementing Technical Standards (ITS) on Pillar 3
disclosures (transparency requirements) on Environmental, Social and Governance (ESG) risks as published by the European
Banking Authority (EBA). These standards aim to ensure that stakeholders are well informed about the ESG exposures, risks and
strategies of credit institutions, so that they can make informed decisions and exercise market discipline. The aim is improved
consistency, comparability and meaningfulness of disclosures by credit institutions.
The relevant qualitative information overlaps largely with the disclosure requirements in accordance with the ESRS. It is
therefore disclosed directly in the appropriate chapters of the consolidated non-financial statement. Conversely, the Pillar 3
disclosure, which is available on RBI’s website (https://www.rbinternational.com/en/investors/results-reports/disclosures.html)
contains references to the corresponding pages in the consolidated non-financial statement. The quantitative information is
available on RBI’s website.
Incorporation by reference
Some ESRS disclosure requirements are closely linked to requirements that RBI is already subject to, such as the requirement in
the Corporate Governance Code to describe its governance structure. All references are listed below:

Chapter in consolidated non-financial statement | Reference
Scope of consolidation | Consolidated financial statements
The role of the administrative, management and supervisory bodies | Corporate Governance Report
Internal control and risk management system in relation to the Group accounting process | Group Management Report

Phased-in disclosure requirements

ESRS | Disclosure requirement
E1-9 | Anticipated financial effects from material physical and transition risks and potential climate-related opportunities
E4-6 | Anticipated financial effects from biodiversity and ecosystem-related risks and opportunities
E5-6 | Anticipated financial effects from resource use and circular economy-related impacts, risks and opportunities.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 37
Governance
GOV-1: The role of the administrative, management and supervisory bodies
The Management Board and Supervisory Board

Governance of sustainability in RBI
Control level |
Supervisory Board of RBI AG
Working Committee | Compliance Committee | Risk Committee | Audit Committee | Remuneration Committee | Nomination Committee | Personnel Committee | Digitalization Committee

Management Board level |
Management Board of RBI AG |
Management and program level |
Sustainable Finance | Group ESG & Sustainability Management | Sustainability Committee
ESG Group Competence Center for all customer segments | Focus on management and strategic development of sustainability agenda as well as implementing operational measures. | Cross-functional group which is chaired by a board member to guarantee a holistic ESG approach
Holistic ESG management within the line organization (Risk, Compliance, Finance, People, etc.)
Sustainable Bond and Sustainable Deposit Committee |  | Environmental Committee (in-house ecology)
Sustainability Council Internal and external stakeholder expertise in the area of business, the environment and society
Implementation level |
ESG business ambassadors | Sustainability officers | Responsible Banking task force | Employees |
In the business units of the subsidiaries for the implementation of the ESG business strategy | In the subsidiaries for the establishment and further development of the local sustainability agenda | (cross-functional) | Implementation of measures to achieve the sustainability goals in all companies
Level of initiatives and memberships relevant to sustainability |
AFRAC: Austrian Financial Reporting Advisory Committee Diversity Charter: Local diversity charters (signed in Croatia, Kosovo, Austria, Romania, Slovakia, Czech Republic EACB: European Association of Co-operative Banks/Working Group for Sustainable Finance EEEFC : European Energy Efficiency Financing Coalition FfB: Finance for Biodiversity Foundation (Member: Raiffeisen Kapitalanlage) NZAM: The Net Zero Asset Managers initiative (Member: Raiffeisen Kapitalanlage) PCAF: Partnership for Carbon Accounting Financials PRB: Principles for Responsible Banking PRI: Principles for Responsible Investment (the members are Raiffeisen Kapitalanlage and Elevator Ventures) |  | Raiffeisen Sustainability Initiative: Platform for sustainable business management and social responsibility respACT: Austrian business council for sustainable development The Valuable 500: Global initiative for companies that work together for inclusion of people with disabilities TISFD: Taskforce on Inequality and Social-related Financial Disclosures UNEP FI: United Nations Environment Program Finance Initiative UNGC: United Nations Global Compact Vienna Initiative: International framework for safeguarding the financial stability of emerging Europe VfU: Association for Environmental Management and Sustainability

The dualistic board system, which is mandated by law in Austria, separates company management into two independent
bodies: the management board, which directs the operational business, and the supervisory board, which is responsible for the
monitoring of the management board. The highest decision bodies in RBI AG in ESG matters are the Management Board and
the Supervisory Board. For information regarding the number of Management Board and Supervisory Board members,
representation of employees in the Supervisory Board, percentage by gender or other aspects of diversity, please refer to RBI’s
Corporate Governance Report. The strict suitability requirements for the Management Board and Supervisory Board members
regarding independence and integrity, as well as applicable conflict of interest regulations, ensure that all Management Board
and Supervisory Board members — with the exception of the employee‑representative members — are independent in the
sense of the ESRS. The percentage of independent supervisory board members is 66 Prozent. The Management Board and the
Supervisory Board share responsibility for addressing the most significant impacts, risks and opportunities related to RBI’s
business activities and its value chain. The Management Board is responsible for monitoring and managing these impacts, risks
and opportunities, while the Supervisory Board ensures their appropriate oversight. All members of the Management Board and
the Supervisory Board are engaged in this responsibility, ensuring comprehensive and effective governance.
The responsibilities of the bodies are delineated within the internal bylaws of RBI. Each board area must implement its
respective sustainability strategy and integrate it into the performance management process. This should be reflected in the
ESG policies and conditions for the individual area. For more details please refer to chapter GOV-2: Information provided to and
sustainability matters addressed by administrative, management and supervisory bodies.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
38 Group management report
RBI’s Strategy

|  | Group Strategy Map |  |
Vision 2025 | RBI is the most recommended financial services group |  |
Mission | RBI transforms continuous innovation into superior customer experience |  |
| Customers |  | Employees |  | Shareholders |  | General public |
| RBI constantly strives to improve customer experience and enables its clients to achieve more in their lives and businesses. |  | RBI values expertise and creates a working environment which promotes collaboration, creativity and entrepreneurial spirit. |  | RBI aims to generate solid and sustainable shareholder value. |  | RBI acts in a socially responsible manner, fostering the long-term welfare of the people and businesses in its markets. |
Strategic pillars & focus areas |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Sustained growth |  | Customer centricity |  | Efficiency |  | Speed & adaptability |
| Sustained business growth and business model profitability |  | Superior customer experience based on data excellence and deep customer understanding |  | Cost competitiveness via accelerated digitization and leveraging the power of the group |  | High adaptability to rapidly changing market developments and harnessing new technologies |
| Efficient resource allocation |  | Customer experience |  | Group synergies & scale |  | Organizational adaptability |
| Focused growth in RBI’s CE/SEE markets | Capital-light product growth |  | Ease & convenience | Personalization | Trust & reliability |  | Group solutions & collaboration | Fast learning & cross-border scaling | Strive for group optimum |  | Quick adaption & optimization cycles | Cross-functional & self- organized teams |
| Balance sheet optimization |  | Product & service integration |  |  |
| New business potential in AT & CEE |  | Data-based customer understanding |  | Digital & operational excellence |  | New technologies |
| Stronger leverage of RBI’s unique CEE expertise | Utilization of untapped segment potential | ESG |  | Customer predictability | Data-based decision making |  | Omni-channel flexibility | E2E digital processes | High degree of automation |  | Modular architecture | Fast technology adaption & integration | Cyber security & resilience |
|  | Constant data collection | Group-wide data availability |  |  |
| People & Culture | Attractive and high- performing working culture |  | Attractive employer | Talent attraction & retention |  | High- performing culture | Leadership |  |  | Collaboration |  | Proactivity |
|  | Individual development & growth |  | Effective teams |  |  | Learning |  | Responsibility |
| RBI executes within an adequate regulatory, risk, capital, liquidity and ESG-compliant framework |

The Group Strategic Roadmap has been developed in order to put RBI’s strategy into action. It is intended to function as a
standardized implementation instrument for RBI AG and the subsidiary banks as well as an orientation tool for all employees.
The derived goals apply to board members and all employees. They are included in the ESG KPIs of the Management Board
members, as presented in the Remuneration Report and approved by the Personnel Committee.
The strategy translates RBI’s vision/mission into priority initiatives with a planning horizon of two years and is available for all
employees via the RBI intranet.The progress of these initiatives is measured and reported to the Management Board and the
Supervisory Board quarterly. It allows RBI to respond to new market conditions in a timely manner.
The Management Board and the Supervisory Board of RBI possess sustainability-related expertise. Collectively, the
Management Board and the Supervisory Board members have experience in environmental, social and governance matters. In
addition, RBI ensures that the members of the Management Board and the Supervisory Board members continuously
participate in sustainability trainings . This includes Fit and Proper training sessions, which also provide updated knowledge on
best practices and regulatory changes in sustainability.
This enables the Management Board to effectively manage and implement RBI's sustainability strategy, and allows the
Supervisory Board to monitor its key impacts, risks and opportunities, such as climate and environmental topics, including
carbon footprint, social responsibility with a focus on human rights topics, and governance practices. By leveraging their
collective knowledge, the Management Board and the Supervisory Board can identify and manage risks related to climate
change, compliance, and reputation, while also capitalizing on opportunities in sustainable investments and green finance.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 39
Sustainability Council
RBI’s Sustainability Council is composed of external ESG and sustainability experts from the fields of economic, environmental
and social issues, alongside RBI decision makers. The council is chaired by the Chief Executive Officer (CEO) of RBI. Meetings are
held twice a year. The role of the Sustainability Council is to advise on the development of sustainability agendas. It assists in
defining important action areas, identifies focal points (materiality approach), advises on deriving targets and measures, and
makes recommendations.
As of 31 December 2025, the members of RBI’s Sustainability Council are:
· Johann Strobl, CEO of RBI AG, Chair of the Sustainability Council
· Dieter Aigner, Managing Director of Raiffeisen Kapitalanlage GmbH, Chief Sustainable Investment Officer
· Larysa Bondarieva, Deputy Chair of the Management Board Raiffeisenbank JSC, Ukraine
· Marie-Valerie Brunner, CIB Customer Coverage, CIB Products & Solutions (interim) of RBI AG, Member of the
Management Board of the H. Stepic CEE Charity
· Eva Eberhartinger, Chair of the Institute of Accounting & Auditing at Vienna University of Economics and Business
and Member of RBI’s Supervisory Board
· Martin Essl, Founder of the Essl Foundation MGE
· Franz Fischler, Franz Fischler Consult GmbH
· Andreas Gschwenter, Chief Operating Officer (COO) and Chief Information Officer (CIO) of RBI AG, Member of the
Management Board of the H. Stepic CEE Charity
· Gregor Höpler, Head of the Group Executive Office of RBI AG
· Zuzana Koštialová, Member of the Management Board at Tatra banka, a.s. Slovakia
· Maria Theresa Lein, Federation of Austrian Industries (IV), Brussels Office
· Heike Mensi-Klarbach, Head of RBI Group People, Culture & Organization of RBI AG
· Hannes Mösenbacher, Chief Risk Officer (CRO) of RBI AG
· Petr Polach, Deputy Head of Group Structured Finance & Investment Banking of RBI AG
· Johannes Rehulka, General Secretary of the Austrian Raiffeisen Association
· René Schmidpeter, Professor for Sustainable Management at Bern University of Applied Sciences
· Georg Schöppl, Member of the Management Board of Österreichische Bundesforste AG
· Matthias Spitzer, Head of the ESG & IR Management department; Raiffeisenlandesbank Niederösterreich-Wien AG
· Alfred Strigl, Managing Partner & Founder of plenum gesellschaft für ganzheitlich nachhaltige entwicklung gmbh
· Christine Würfel, Head of RBI Group ESG & Sustainability Management of RBI AG
Sustainability Committee
The Management Board is supported in its ESG decisions by the Sustainability Committee. Under the chairmanship of
Management Board member Marie-Valerie Brunner, the committee is composed of the heads of the Management Board
divisions primarily responsible for ESG matters. In 2025, the committee met nine times and focused on the sustainable
transformation of business including the transition plan and the financed emissions development, the enhancement of ESG
client engagement, further steps on biodiversity and social topics such as progress made on human rights due diligence
processes as well as compliance with applicable ESG regulations.
The Sustainability Committee has the following tasks and responsibilities:
· It advises the Management Board on ESG issues: The Sustainability Committee or the relevant members inform the
Management Board about any potential or existing material impacts, risks, and opportunities related to
sustainability, e.g. the need to make changes to ESG strategies, comply with regulations, or assume ESG-related
commitments. This includes compliance with current European and national ESG legislation and supervisory
obligations.
· It recommends ESG KPIs in relation to the members of the Management Board’s performance management
activities at head office and in the subsidiaries.
· It monitors the holistic alignment of the Principles for Responsible Banking.
The operational management of these tasks is overseen by the cross-functional Responsible Banking Task Force. The task
force mirrors the composition of the Sustainability Committee. Members of the task force meet once a month. They define,
coordinate and pool key ESG issues.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
40 Group management report
It is through this ESG governance that a top-down and a bottom-up discussion guarantees the involvement of all relevant
functions and stakeholders. The group has local ESG managers. Additionally, there are ESG ambassadors for the individual
business, finance and risk areas at the subsidiaries in order to ensure a coordinated approach throughout RBI.
Chief Executive Officer (CEO)
Group ESG & Sustainability Management and Sustainability Officers at the subsidiaries
The principal tasks of Group ESG & Sustainability Management, which reports directly to the CEO, include the planning,
implementation and continued development of ESG activities at RBI. This division serves both as a central point of contact and
center of ESG-expertise within the group.
Group ESG & Sustainability Management and Group Accounting & Financial Methodologies are responsible for managing and
ensuring compliance with new regulatory reporting requirements and the disclosure of non-financial data. The division also
manages and steers the integration of the UNEP FI Principles for Responsible Banking. Additional responsibilities encompass
collaboration with ESG rating agencies, the analysis of their respective results, effective engagement with both internal and
external ESG stakeholders and the development of ESG knowledge and trainings.
CFO area (Chief Financial Officer)
The CFO area plays a pivotal role in sustainability and management reporting for sustainable financing and ensures effective
control, tracking, monitoring, data collection, budgeting and reporting. The CFO area provides strategic management and
supervision to align green and social asset reporting with RBI’s objectives. It specifies policies, procedures and framework
conditions in order to promote sustainable practices and monitor progress in reaching sustainability targets and identifying
potential for improvement. The CFO area incorporates sustainability-related metrics into RBI’s budgeting process and, together
with other departments such as Sustainable Finance, defines targets for the Corporates and Retail business areas.
Furthermore, the CFO area has a co-leading role together with Group ESG & Sustainability Management in the preparation of
the consolidated non-financial statement by ensuring accurate collection and analysis of financial and non-financial data
related to sustainability metrics and its disclosure.
Group Internal Audit
Group Internal Audit has integrated ESG topics as a strategic priority within its audit activities and supports the Management
Board, Supervisory Board and Audit Committee in their oversight responsibilities.
Group Internal Audit applies a risk-based approach to ensure that ESG topics are addressed across all relevant business and
risk areas. This includes conducting dedicated ESG audits as well as incorporating ESG aspects into other audit engagements.
Legal Services
Legal Services is responsible for RBI AG’s legal matters and provides legal support, including advising on ESG regulations,
responding to specific legal questions related to ESG topics, supporting the development of products complying with
sustainability criteria, and contributing to ESG literacy. A dedicated team has been formed, comprising members from various
departments within Legal Services.
Group People, Culture & Organization
Group People, Culture & Organization combines human resources and organizational development. In addition to compliance
with all labor law, one of its focuses is the efficient and smooth processing of human resources processes, the personnel
development, career management and leadership development as well as the training and education of employees. In
connection with ESG, the main focus of Group People, Culture & Organization is on diversity, employee development,
employment relationships, employee involvement and health and safety. These topics are essential to a sustainable employee
policy.
Group Marketing
Group Marketing is responsible for strategically managing all brands under which RBI operates, most importantly Raiffeisen
Bank International for the business-to-business activities out of Vienna and Raiffeisen Bank for the business-to-consumer
business in the CEE region. It oversees marketing communication across RBI, providing all types of marketing assets, and
setting minimum standards for responsible marketing practices via the Group Marketing Policy. This also covers access to
(quality) information and access to products and services where advertising communication is concerned.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 41
Corporate and Investment Banking (CIB) Products & Solutions
Group Structured Finance & Investment Banking
Group Structured Finance & Investment Banking is, inter alia, responsible for various products with ESG elements (ESG-linked
finance, green and social purpose lending).
Group Asset Management
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. (RKAG) is RBI’s largest asset manager and reports to CIB Products & Solutions at
RBI AG. RKAG’s product range includes mutual and specialized funds for retail and institutional investors as well as advisory and
wealth management services. RKAG’s Sustainability Office defines the sustainability philosophy and manages sustainability-
related policies as well as the shareholder engagement process. It also ensures the implementation of the strategies and
methods in the investment process in terms of sustainable product positioning.
Sustainable Finance
Sustainable Finance is established as the central competence center for all customer segments. It provides ESG expertise for
customers and supports the customer and product departments in advising on and structuring sustainable financing and
investment products. One of its key tasks is to manage sustainable loan portfolios for green bond transactions.
Sustainable Finance assists customers in developing methodologies for sustainable transactions, verifying project suitability
and defining key performance indicators based on international standards. Additionally, RBI provides educational sessions and
strategic support to help customers achieve carbon neutrality and comply with Sustainable Development Goals.
The Retail Banking area is tasked with embedding environmental and social impact into core business actions while delivering
customer-centric financial solutions. This includes the strategic steering and distribution of ESG-compliant products such as
green mortgage loans, social loans and ESG investment instruments like funds and certificates. These offerings are designed to
support customers in their green transition and are aligned with the EU Taxonomy and RBI’s climate and environmental
business strategy. Retail Banking offers ESG advice during investment advisory meetings, integration of carbon footprint tools
into daily banking and the rollout of solutions focusing on financial health insights. RBI ensures that ESG principles are
embedded in lending policies, frameworks, product design and customer engagement strategies. Retail ESG Ambassadors at
subsidiary banks help execute these efforts locally.
Sustainability Bond Committee (SBC)
The SBC was established for monitoring the management of the sustainability bond program in RBI in line with the RBI
sustainability bond framework. The SBC is part of RBI’s Group Asset/Liability Committee. It comprises an extended team of
managers and experts from Group Structured Finance & Investment Banking, Group Corporate Credit Management, Group
Treasury, Group ESG & Sustainability Management, Group Compliance, Group Capital Markets, Raiffeisen Certificates, Retail
Bonds & Equity Trading as well as Group Investor & Media Relations.
The Sustainability Bond Committee has the following task s:
· Setting of the sustainability bond principles
· Governing of the sustainability bond framework
· Approval of eligible green and social assets for the sustainability bond portfolio in accordance with the RBI
sustainability bond framework
· Review and sign-off of environmental and social impact reporting in accordance with the RBI sustainability bond
framework
· Regular review of the eligible portfolio and the use of proceeds in accordance with the RBI sustainability bond
framework
Sustainable Deposit Committee (SDC)
The Sustainable Deposit Committee was established by RBI’s Group Asset/Liability Committee for monitoring the management
of the RBI sustainable deposit program in accordance with the RBI sustainable deposit framework. It comprises an extended
team of managers and experts from Group Structured Finance & Investment Banking, Group Corporate Credit Management,
Group Treasury, Group ESG & Sustainability Management, Group Compliance, Group Capital Markets, Raiffeisen Certificates,
Retail Bonds & Equity Trading as well as Group Investor & Media Relations.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
42 Group management report
The Sustainable Deposit Committee has the following responsibilities:
· Setting of the sustainable deposit principles
· Governance of the RBI sustainable deposit framework
· Approval of eligible assets for the sustainable deposit portfolio in accordance with the RBI sustainable deposit
framework
· Review and sign-off of impact reporting in accordance with the RBI sustainable deposit framework
· Regular review of the eligible portfolio and the use of proceeds in accordance with the RBI sustainable deposit
framework
Chief Risk Officer (CRO)
The Management Board area of Risk Management – led by the CRO – plays an essential role in relation to implementing the
ESG strategy and the associated risk management. The Group Risk Committee (GRC) is RBI´s formal authority over risk
governance, including ESG risk appetite, model validation and risk reporting.
Group Regulatory Affairs
Group Regulatory Affairs (GRA), reporting to the CRO, functions as the central hub for regulatory developments across the
group and acts as the point of contact for supervisory authorities. Its responsibilities include monitoring regulatory
developments—including ESG topics—at EU, national and international levels. GRA provides regulatory guidance on implications
and timelines, collects input for consultations, supports prioritization and regularly updates the Management Board of RBI AG.
Additionally, Group Regulatory Affairs serves as the regulatory knowledge hub, offering internal training on regulatory
initiatives.
Group Compliance
Group Compliance is responsible for RBI’s compliance framework in line with the three lines of defense model for controlling
risk management (see chapter Internal Controls). The division has the task of monitoring compliance with statutory and
regulatory requirements, primarily related to financial sanctions, anti-money laundering, fraud and bribery and the prevention
of conflicts of interest. Additionally, it provides expert opinions on sector policies, prepares follow-up measures and reviews the
product range for sustainable financing.
The tasks and responsibilities of Group Compliance also encompass the mitigation of risks related to greenwashing and
human rights violations across the value chain by providing guidance and conducting controls. All ESG compliance
competencies are centralized in the Capital Markets Compliance department. This ensures consistent coverage of compliance
matters pertaining to sustainability, sensitive business and human rights in line with regulatory developments.
Internal Controls
The activities related to the internal control system (ICS) are periodically reported to the Operational Risk Management and
Controls Committee, to the Management Board and to the Audit Committee. Internal Controls regulates the governance
structure for internal controls over financial reporting and sustainability reporting and oversees risks and controls related to
financial and sustainability reporting.
Internal Controls is situated within Group Compliance and is responsible for the implementation of the ICS, reflecting RBI’s
related processes/risks/controls approach which is integrated within the overarching three lines of defense model for
controlling risk management. The ICS framework aims to ensure that RBI’s controls environment provides assurance regarding
the effective management of underlying operational risks, financial reporting and compliance with applicable regulatory
requirements.
The RBI ICS framework complies with industry leading practices (i.e. Committee of Sponsoring Organizations, Internal Control –
Integrated Framework). The ICS framework stipulates that the first line of defense is responsible for implementing adequate
processes, identifying the risks and designing and executing mitigating controls. The second line of defense is responsible for
supporting the first line of defense in assessing risks, designing efficient and effective controls and validating and reviewing
the effectiveness of risk mitigation and controls. It also verifies the controls. The third line of defense is executed by Group
Internal Audit, which provides independent assurance of the internal control environment and system. This approach supports
the selection of relevant business processes, enforces accountability and ensures integration of processes/risks/controls,
independence and segregation of duties.
The internal control system includes processes related to sustainability disclosure and is further described in chapter GOV-5:
Risk management and internal controls over sustainability reporting.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 43
Credit Portfolio Management
In view of the significant and increasing importance of ESG risks and their potential steering impact, Group Financial
Institutions, Country and Portfolio Risk Management has assumed responsibility for steering and implementing ESG-related
issues across the risk organization in alignment with regulatory, business and market requirements. Its area of direct
responsibility also includes financial risk management and financial rating and analysis, which ensure ESG implementation
across the financial institutions segment. Other ESG-relevant topics (such as the operationalization of steering measures,
compliance with the disclosure requirement) are now located directly within the responsible risk areas.
Group Corporate Credit Risk Management
In terms of ESG and ESG risks, Group Corporate Credit Risk Management fulfills several tasks. It acts as the developer of the
ESG scoring model and performs ESG score analysis throughout the credit rating process. The rating analysts evaluate the ESG
scores of customers by considering both qualitative and quantitative facts and information. In underwriting, underwriters use
the ESG score of the customer and the ESG assessment of the industry, in addition to credit rating aspects, to decide if a loan
or limit application can be supported. Collateral management is responsible for incorporating ESG aspects, such as physical
risks, into the collateral valuation.
Group Risk Controlling
Group Risk Controlling contributes to ESG risk management. Integrated Risk Management is primarily responsible for
incorporating ESG risks into the internal capital adequacy assessment framework (ICAAP). It is also responsible for financed
emissions calculations, green asset ratio calculations, and internal ESG risk reporting. These tasks are performed as a group
function to ensure a uniform approach. Retail Risk Analytics & Methodology as well as Risk Methods and Analytics extend the
calculation of the credit risk parameters—such as the probability of default or loss in the event of default—to include ESG-
relevant drivers. These adjusted parameters are used for purposes such as the climate risk stress test and the calculation of
IFRS9 impairments. Market Risk Management measures the ESG market risk component and sets limits for Capital Markets and
Treasury in collaboration with Integrated Risk Management. Liquidity Risk Management and Operational Risk Management are
also responsible for the integration of ESG risks into the measurement, monitoring and management of their respective risk
types.
Group Risk Data Integration
Group Risk Data Integration covers several responsibilities related to ESG for head office in coordination with subsidiaries. It is
the owner of the ESG data collection and data sourcing approach, including the respective tools and platforms for customer
data that support regulatory reporting and rating generation. The department also owns the EU Taxonomy approach and the
respective tools and platform s. Additionally, it advises on the implementation of ESG-induced changes to RBI’s processes and
offers client support and advisory on providing ESG-related data, including maintaining the ESG landing page. Finally, the
department is responsible for sourcing ESG data to analytical and risk solutions.
CIO (Chief Information Officer) / COO (Chief Operations Officer)
Group Procurement, Outsourcing & Real Estate Management
Group Procurement, Outsourcing & Real Estate Management reports directly to the COO. It is responsible for the development
and execution of the procurement strategy and for the steering of all procurement activities within RBI. This happens in close
alignment with RBI's business strategy and in line with RBI's sustainability principles.
In order to ensure that RBI's environmental and social targets are implemented in the supply chain, Group Procurement derives
ESG-related measures for the vendor selection and vendor management activities at RBI, and works in close cooperation with
the subsidiaries in Central and Eastern Europe.
Group IT
RBI's Group IT focuses on RBI's digital operations and innovations. It is responsible for IT strategy, digital transformation, and IT
governance. Key enablers such as cyber security, data management and IT solutions are overseen, and emerging topics such as
the integration of artificial intelligence (AI) are managed. In 2025, the focus on sustainable IT was maintained, which included
comprehensive IT data collection to understand GHG emissions derived from the use of IT services and goods.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
44 Group management report
Facility Management
RBI AG’s energy consumption, waste management, water consumption and some elements of office material procurement (e.g.
paper) are managed and overseen by Facility Management. Postal services and logistics are also managed by Facility
Management. It plays a crucial role in implementing local sustainability initiatives such as smart temperature regulation or the
switch to energy-saving light sources. The own operations data for head office is collected by Facility Management, enabling
emission calculation and tracking as well as agile implementation of emission reduction measures.
Environmental Committee
In accordance with its responsibility for environmental measures, the Management Board members at RBI AG appointed an
Environmental Officer and an Environmental Committee in 1994. The Environmental Committee is the advisory and decision-
making body for operational environmental management and sustainability measures at head office. Permanent members are
the Environmental Officer as well as representatives of Group ESG & Sustainability Management, Group Procurement, Group IT
and the Staff Council. Depending on the topics being addressed, other representatives are involved in the meetings. The
Environmental Officer convenes the Environmental Committee at least twice a year. Tasks of the Environmental Committee
include developing decision-making principles for the Management Board regarding ecological strategies, planning and
initiatives, as well as conducting periodic present-state assessments and weak point analyses.
Policy frameworks as governance instruments
The Management Board is responsible for approving new, updated and canceled directives and general instructions. The
second tier of management is responsible for specific instructions and supporting documents.
Internal RBI policies must be followed by all affected employees in the targeted RBI Group units. Units in the scope of the RBI
Group Policy Framework are all credit institutions and units that have more than ten employees and are actively operating, and
fully consolidated according to CRR. If the requirements cannot fully be met, the Group unit has to apply for an exception,
followed by the RBI exception procedure. Typical reasons for exceptions from individual policy provisions are differing local
legal requirements , or absence of the licenses, services or products due to the respective business model. The standard
exception process requires an approval by the board member of the subsidiary and a approval by the responsible internal
approval authority and/or the Group policy owner.
The RBI policy database is the information platform and the official source for all internal policies. All RBI employees can access
it. Information on new and updated policies is sent to the relevant employees on a regular basis. All policies must be kept up to
date by the policy authors and owners and therefore updated in intervals as may be required by applicable law, or if there is no
such requirement, at least once every two years.
GOV-2: Information provided to and sustainability matters addressed by
administrative, management and supervisory bodies
The Management Board, the Supervisory Board and relevant committees are informed on a regular basis about material
impacts, risks, and opportunities. These updates are provided by senior management, including the CRO and sustainability
officers.
The Management Board and Supervisory Board take material impacts, risks and opportunities into account as part of strategic
steering, decision-making and risk and control processes. It is evaluated how these impacts, risks and opportunities align with
and influence RBI's long-term strategic goals. When evaluating material transactions and strategic initiatives, the Supervisory
Board and relevant committees assess the potential trade-offs associated with various impacts, risks and opportunities. They
ensure that decisions are made with a comprehensive understanding of the benefits and potential drawbacks, balancing
short-term advantages and long-term sustainability and risk-mitigation objectives.
As recommended by the Sustainability Committee, the Management Board focused in 2025 on the implementation of RBI´s
climate and environmental transition plan including financed emission development and its action plan as well as on
supporting customers in their ESG transition journey. The Management Board was also informed about the steps taken to
develop RBI´s biodiversity footprint calculation and further considerations regarding the social business strategy as well as
progress made in the implementation of human rights due diligence processes. In addition, regular updates were also provided
on ESG rating results and contentious issues.
Within the environmental perspective, the Management Board received regular information pertaining to ESG risk
management and decided on topics such as the methodology of the financed emissions calculations, the comprehensive risk
dashboard that measures the level of risk appetite, the ESG scoring methodology, internal ESG rules and models for financial
institutions.
With regard to the social perspective, the Management Board received updates on several policies such as the diversity policy,
succession management, the nuclear and defense polices and on the Modern Slavery Statement of RBI AG. The topics also
included leadership performance and remuneration with regard to the Directive (EU) 2023/970 on pay transparency, or the
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 45
learning and development budget focusing on strategic directions of learning. The agenda further focused on RBI`s cyber
security status, its respective strategy and roadmap of RBI.
Regarding the governance perspective, the Management Board received regular compliance updates on anti-money
laundering, financial sanctions, governance and controls, financial crime management, capital market compliance and
regulatory compliance.
During the 2025 financial year, the Management Board informed the Supervisory Board of RBI AG including its relevant
committees of the following material ESG topics:
· Regulatory developments regarding the new EU omnibus package and further regulatory and supervisory ESG topics
in areas such as of biodiversity
· Evaluating RBI's strategy to assess and monitor ESG risks with a special focus on mitigating climate risks
· Status of financed emissions, related steering and data coverage
· Internal process development regarding the biodiversity dependencies and footprint, estimation and update on
RBI’s biodiversity policy
· Regular reporting on the progress of RBI’s consolidated non-financial statement
· Oversight on measures to enhance workplace diversity
GOV-3: Integration of sustainability-related performance in incentive schemes
Remuneration is based on four underlying principles:
· The remuneration principles promote RBI’s business strategy and long-term development and are consistent with
RBI’s objectives, values and long-term interests.
· Clear and transparent rules concerning remuneration and performance measurement serve to guarantee objective
decision-making and ensure that the interests of the employees are aligned with RBI’s long-term interests.
· The remuneration principles are compatible with and instrumental to solid and effective risk management and do
not encourage taking risks in excess of the tolerated level.
· The remuneration principles set out clear responsibilities concerning the definition, review and implementation of
the remuneration policy and define rules to prevent conflicts of interests.
The fixed remuneration is based on predefined criteria and is not performance-related. The fixed remuneration includes the
base salary along with additional and fringe benefits. With regard to the variable remuneration, the allocation and payment of
the respective bonus (if applicable) is subject to the fulfillment of the regulatory and performance-related step-in criteria. The
calculation of the bonus amount is based on two KPIs: return on equity and cost-income ratio. For each business year,
performance targets are set for these KPIs at the level of RBI AG as well as at the level of subsidiaries. These targets are
compared to the actual year-end values achieved to determine the overall performance.
The bonus is paid according to the respective payment model for identified staff (i.e. staff whose professional activities have a
material impact on the risk profile of RBI AG or the respective subsidiary), if applicable: depending on the amount of the bonus,
at least 40 per cent of the bonus is deferred. Final allocation and payment take place on a pro-rata basis over a period of up to
five years. Additionally, half of the total bonus is granted in the form of non-cash instruments (share-based remuneration in
the form of phantom shares) with a retention period of one year (deviations based on local requirements are possible). The
value is paid out in cash at the end of the retention period. The number of phantom shares allocated and the payout amount is
calculated on the basis of RBI’s average share price for the respective year. No other share-based remuneration is granted.
The malus/clawback review is structured as follows: In accordance with the regulatory provisions, ex-post risk adjustment is
ensured on the basis of corresponding clawback regulations and agreements as well as an annual review process. If the
performance underlying the bonuses granted proves to be unsustainable or there is a deterioration in the company’s income or
cash flow, the deferred remuneration may be reduced by the company or canceled altogether.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
46 Group management report
ESG-related Board objectives of RBI for the 2025 financial year 1

Board member | Focus area | Objective title | Weight | Description of approved objectives
All board members | People & Culture | Gender diversity in top management Attractive employer & high-performing culture | 10% | · Continue to enhance RBI’s position as an attractive employer by acting on Employee Engagement Survey insights and fostering a sustainable high-performance culture
CEO | Sustained Growth | Focus on responsible customers / businesses | 10% | · Average of all business line ESG outcomes: new and/or total volume of ESG assets by year- end · Oversee the development and group-wide implementation of the CO 2 targets 2030 in line with RBI’s transition plan
CFO | Sustained Growth | Focus on responsible customers / businesses | 10% | · Setting up of state-of-the-art ESG reporting · Providing steering impulses to foster ESG business generation · Ensuring ESG eligible bond issuance as an integral part of funding source
CRO | Sustained Growth | Focus on responsible customers / businesses | 10% | · CRO is responsible for setting and committing to a 2026-2030 path to fulfill the 2030 CO 2 related targets and to support the implementation of the execution plan to be developed by the Business Board Member. · Further support on ESG data collection efforts
COO/CIO | Sustained Growth | Focus on in-house ecology | 10% | · Actively support RBI´s 1.5°C–aligned transition plan for own operations
Retail Banking | Sustained Growth | Focus on responsible customers / businesses | 5% | · Achieving 10 per cent of new sales of retail green and social loans within the retail loan portfolio & gross sales of 580 mn EUR of ESG Investments. · Supporting the financed emission target setting of retail assets
Corporate and Investment Banking | Sustained Growth / Customer Centricity | Focus on responsible customers / businesses | 10% | · Up to 20 per cent of the year-end asset volume in corporate business is ESG-compliant according to the ESG rulebook and supports a sustainable funding program (MREL green bonds, supranational programs) to reach ESG portfolio commitments · Develop local execution plans for reaching CO 2 targets in line with RBI’s transition plan and implementation of necessary measures · Implementation of local ESG engagement strategy (incl. monitoring), focus on clients with high CO 2 emissions and support ESG data collection · Assets under management will reach a minimum share of 47 per cent ESG funds Group-wide

1 These objectives include both ESRS-compliant quantitative and qualitative targets. The measurement of target achievement is published in the remuneration report of
the relevant financial year.
The climate-related considerations factored into the remuneration are defined as the implementation and steering of the
transition plan for reaching CO 2 related targets (at portfolio and own operations level). This is underlined by business metrics
that define the increase in new ESG business volumes and the support of RBI customers in their climate and environmental
transition.
ESG-related Board objectives of RBI for the 2026 financial year 1

Board area | 2026 RBI ESG targets for sustainability
CEO | · Oversee the development and local implementation of the CO 2 targets 2030 in line with RBI Group Transition plan
CFO | · GHG reduction pathway: Operationalize local GHG monitoring and a carbon‑budget process in relevant Group units · ESG reporting framework enhancement: Advance ESG steering and governance to grow ESG revenue and mitigate transition risk from high‑emission sectors. · Facilitate ESG bond issuance. Build an ICMA/EU‑aligned ESG bond program, secure independent assurance and execute issuance, if foreseen in the funding plan and supported by eligible assets generation.
CRO | · Ensure implementation of the new EBA guidelines on the management of ESG Risks in the risk organization including coordination and collaboration for all actions needed within other Board areas. · Supporting data collection process with ESG Data Hub
COO/CIO | · Actively support RBI´s 1.5°C–aligned transition plan for own operations
Retail Banking | · Volume targets for new sales: € 1,070 million ( Social SME & Green SME & Green and Social PI loans) · Gross sales of ESG investment products:€ 655 million · Continue to support the CO₂ emissions target setting for 2030
Corporate & Investment Banking | · Up to 22 per cent of the year-end asset volume in corporate business is ESG-conform according to the RBI ESG Rulebook and supports a sustainable funding program (MREL green bonds, supranational programs) to reach ESG portfolio commitments · Refine local execution plan (incl. local ESG engagement strategy and ESG data collection) for reaching CO 2 targets 2030 · Develop local ESG engagement strategy for institutional customers · New green volumes/AUM: € 655 million = Gross sales of ESG investment products (shared with Retail)

1 These objectives include both ESRS-compliant quantitative and qualitative targets. The measurement of target achievement is published in the remuneration report of
the relevant financial year.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 47
The individual performance criteria include financial performance criteria (weighted at a minimum of 40 per cent) and non-
financial performance criteria (weighted at a maximum of 60 per cent). The non-financial performance criteria should
appropriately reflect the business strategy and may relate, for example, to the achievement of strategic objectives such as
implementation of strategic projects, measures to increase efficiency and optimize processes, innovation, customer
satisfaction, compliance with risk management policy, adherence to governance and compliance regulations, employee
engagement, and the leadership qualities of the board member. Furthermore, criteria related to the company’s social
responsibility, including environmental factors, should be used. The personal committee sets the amount of the target bonus at
the beginning of the financial year and decides on the targets for the Management Board, makes adjustments if necessary,
determines the achievement of the Management Board targets and approves the bonus allocation on this basis. The
achievement of a minimum score of “meets all expectations completely” for overall performance is seen as a mandatory
individual performance-related step-in criterion for bonus eligibility. If all step-in criteria have been achieved, the bonus
process continues with the calculation of the bonus amount. The specific amount of the bonus is calculated on the basis of the
degree of fulfillment of the KPIs as defined in the remuneration policy for Management Board members of RBI AG.
No variable remuneration is granted to members of RBI AG’s Supervisory Board, although they do receive appropriate annual
fixed remuneration, as determined by the General Assembly of RBI AG.
A pproval process and governance

| Personnel Committee | Remuneration Committee | Supervisory Board | Annual General Meeting | Risk Committee
Remuneration policy & Remuneration Report for the Management Board | — | Recommendation | Authorization | Advisory Vote | —
RBI AG’s general remuneration principles for all employees (including the Management Board) for the implementation of regulatory requirements | — | Authorization | — | — | —
Performance management principles for the Management Board | — | Authorization | — | — | —
Individual performance targets for the Management Board | Authorization | — | — | — | —
Individual performance appraisal and determination of the bonus amount for the Management Board | Authorization | — | — | — | —
Management Board contracts | Decision | — |  | — | —
Review of the remuneration policy | — | Decision | — | — | Decision

A few more details regarding two important items shown in the table above:
· The Remuneration Policy for the Management Board and the Supervisory Board is drawn up by the Supervisory
Board; the Supervisory Board’s Remuneration Committee, established within RBI AG pursuant to § 39c of the Austrian
Banking Act, submits its recommended decision to the Supervisory Board. The Remuneration Policy is submitted to
the vote of the shareholders’ General Meeting at the intervals provided for by law and when there is any significant
amendment, the vote being of a recommendatory nature.
· The Management Board and the Supervisory Board of RBI AG must prepare a Remuneration Report which must
provide an overview of the remuneration awarded or owed to current and former members of the Management
Board in the previous financial year, including all benefits in any form, and which must contain the information
required by law. The Remuneration Report for the last financial year is to be submitted to the shareholders’ General
Meeting for voting, whereby the vote is of a recommendatory nature. In the following Remuneration Report, RBI AG
must explain how the voting result was taken into account.
· The Remuneration Policy and the Remuneration Report are to be made publicly available in accordance with the
legal requirements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
48 Group management report
.GOV-4: Statement on due diligence
The following overview provides information on which sections of the current consolidated non-financial statement contain
the core elements of due diligence, i.e. the procedures conducted or processes implemented by RBI to identify actual and
potential negative impacts on the environment and people in connection with its business activities.

Core elements of due diligence | Paragraph in consolidated non-financial statement
a) Embedding due diligence in governance, strategy and business model | ESRS 2 GOV-2: Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies
ESRS 2 GOV-3: Integration of sustainability-related performance in incentive schemes
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model
b) Engaging with affected stakeholders in all key steps of the due diligence | GOV-2: Information provided to and sustainability matters addressed by administrative, management and supervisory bodies
SBM-2: Interests and views of stakeholders
IRO-1: Description of the processes to identify and assess material impacts, risks and opportunities
E1-2: Policies related to climate change mitigation and adaptation
E4-2: Policies related to biodiversity and ecosystems
E5-1: Policies related to resource use and circular economy
S1-1: Policies related to own workforce
S1-2: Processes for engaging with own workers and workers’ representatives about impacts
S2-1: Policies relating to value chain workers
S2-2: Processes for engaging with value chain workers about impacts
S2-3: Processes to remediate negative impacts and channels for value chain workers to raise concerns
S3-1: Policies relating to affected communities
S3-2: Processes for engaging with affected communities about impacts
S3-3: Processes to remediate negative impacts and channels for affected communities to raise concerns
S4-1: Policies related to consumers and end-users
S4-2: Processes for engaging with consumers and end-users about impacts
G1-1: Corporate culture and G1-1: Business conduct policies
G1-2: Management of relationships with suppliers
c) Identifying and assessing adverse impacts | ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model
IRO-1: Description of the processes to identify and assess material impacts, risks and opportunities
d) Taking actions to address those adverse impacts | Respective sections on management of impacts, risks, and opportunities
e) Tracking the effectiveness of these efforts and communicating | E1-4: Targets related to climate change mitigation and adaptation
E4-4: Targets related to biodiversity and ecosystems
E5-3: Targets related to resource use and circular economy
S1-5: Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities
S2-5: Targets relating to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities
S3-5: Targets relating to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities
S4-5: Targets relating to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 49
GOV-5: Risk management and internal controls over sustainability reporting
The consolidated non-financial statement was created in collaboration between Group ESG & Sustainability Management and
Group Accounting & Financial Methodologies. Data collection was carried out in the respective business divisions (including
Group Risk Controlling, Group ESG & Sustainability Management, Group People, Culture & Organization, Facility Management).
Once the report is completed, the non-financial statement is approved by the responsible division heads and then submitted to
the Management Board and the Supervisory Board for review and final approval.
Two main risks were identified in the consolidated non-financial statement: the risk of overlooking material topics, leading to
an incomplete report, and the risk of inaccurate data. To mitigate the first risk, a materiality assessment was conducted prior
to report preparation (see chapter SBM-3: Material impacts, risks and opportunities and their interaction with the strategy and
business model). In addition, due diligence processes and the involvement of relevant stakeholders are used to ensure that all
material issues are identified and adequately addressed. No separate DMA was conducted in the reporting year 2025, as the
ongoing due diligence processes and stakeholder dialogues serve as an integral part of risk identification and assessment.
There is a second risk that incorrect data is input into the consolidated non-financial statement. To cover this risk, the report’s
contents are subjected to dual controls within the respective divisions. Internal Controls defines the governance structure for
internal controls over financial reporting and sustainability reporting and oversees risks and controls related to financial and
sustainability reporting. In this respect, during the set-up of the current sustainability reporting process, a set of priorities was
identified to ensure the appropriate control environment, such as:
· Actions and initiatives to ensure appropriate internal communication standards to enable the involved personnel to
understand and carry out their responsibilities
· Definition of the relevant process landscape and documentation of the key steps and responsibilities of the involved
stakeholders
· Identification of the main control objectives/actions to provide assurance on completeness and timeliness of the
sustainability report and definition of the main key controls.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
50 Group management report
Strategy related to sustainability
SBM-1: Strategy, business model and value chain
Key elements of strategy that relate to sustainability matters.
RBI’s understanding of sustainability
Sustainability is a fundamental principle for RBI and one of the
measures of corporate success. For over 130 years, Raiffeisen
has combined financial success with socially responsible
action.
· RBI understands sustainability as responsible
corporate activities that aim for long-term
profitability while considering key social and
environmental aspects. Also see chapter G1-1:
Corporate culture.
· RBI has embedded sustainability as an integral part
of its operations and as a component of leadership
and management responsibilities.
· RBI is committed to aligning the management
structures and processes with this attitude. In the
three strategic sustainability areas of responsibility
—responsible banker, fair partner, and engaged
citizen—RBI endeavors to effectively apply the
values and competencies to fostering sustainable development both at RBI and in society.
In its ESG & Sustainability Policy, RBI describes the strategic approach to pursuing sustainability and its intent to integrate it
into its business activities.
The goal is to concentrate on those areas which have a significant impact on the economy, the environment and people,
including human rights. This requires RBI to continuously improve the positive impacts of its business activities while reducing
the more negative aspects, and develop ways to measure and verify both. This approach aims to increase RBI’s financial long-
term value while also actively contributing to the sustainable development of society.
RBI’s sustainability strategy
RBI creates sustainable value. This strategy consists of three strategic action areas: responsible banker, fair partner and
engaged citizens within which RBI focuses on group-wide sustainability management. The action priorities are continuously
developed further, taking into account the perspectives of the stakeholders.
Core action areas of RBI’s sustainability strategy
The most effective leverage for a bank is in its core business. RBI aims to structure its business and business relationships for
long-term resilience, to avoid social and environmental risks and to take advantage of opportunities to improve environmental
protection and social standards.
RBI makes ESG-related activities and business a key part of its business strategy. It aims to achieve measurable positive
impacts within the framework of a sustainable transformation. Accordingly, it sets science-based CO 2 targets, focuses on
sustainable business opportunities. The management of its business activities is guided by the UNEP FI’s Principles for
Responsible Banking. In line with this it evaluates the positive and negative ESG impacts and financial outcome of its business
activities, sets goals for improvement, adapts its product and service offerings, ensures holistic ESG governance and culture,
conducts a proactive stakeholder engagement process, and reports transparently.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 51
C limate and environmental business strategy
RBI focuses on supporting its customers in their climate and environmental transition. Customers are encouraged to work on a
targeted basis towards improving their climate and environmental performance by developing and following a transition
pathway. RBI also offers customers extensive ESG expertise as well as practical and innovative sustainable financial products
and services, thereby contributing to increasing the proportion of climate-friendly transactions.
The climate and environmental business strategy is subject to regular reviews, where RBI considers not only the scientific
advances and the updated ESG findings from its portfolios, but also the transformation progress made by its customers.
In 2025, RBI developed its climate and environmental transition policy. This strategic framework was further enhanced through
the definition of country-level 2030 financed emissions targets and annual ambitions for 2026–2029, which were formally
approved by the Management Board. These milestones mark a significant step in aligning RBI’s operations with the 1.5°C
pathway. For more details please refer to chapter E1-4: Targets related to climate change mitigation and adaptation.
RBI’s climate and environmental strategy is based on three pillars which are consistent with both its voluntary commitments
under the UNEP FI Principles for Responsible Banking and also with the regulatory requirements.
The first pillar is focused on aligning the bank’s portfolio with the goals of the Paris Agreement. RBI analyzes the impacts of,
the weak points of and the opportunities presented by its business activities from a climate and environmental perspective. In
doing so, it considers climate and environmental factors in lending decisions, risk and operational control and resource
allocation. It will also increase the use of eligible assets for sustainable funding products.
The second pillar focuses on supporting RBI’s customers on their journey towards climate and environmental transition. RBI
therefore offers its professional expertise to its corporate and institutional customers as well as its retail customers, along
with practical and innovative financial products and services. It is increasing investments in areas with positive impacts on the
environment and on society, with a special focus on the region in which it operates, namely Central and Eastern Europe.
In the third pillar, RBI is driving forward the transition to sustainable financing. In order to make a credible contribution to the
climate and environmental transition, it is crucially important for it to develop, maintain and pass on expert knowledge. The
establishment of a series of ESG policies and appropriate governance (e.g. the ESG risk framework or the process to prevent
greenwashing) represents a key element of RBI’s strategy and supports it in its endeavors.
Social financing
RBI embeds social financing into its overarching sustainability strategy by actively supporting projects that it believes to
generate a positive societal impact. RBI provides funding for initiatives such as access to basic services, job creation and
training and education. These efforts are aligned with the UN Sustainable Development Goals.
Small and medium-sized enterprises, vital to CEE economies, often struggle to access affordable financing. RBI provides loans
that enable small and medium-sized enterprises to grow, create jobs, and support regional development—especially in
underserved/underdeveloped areas or those led by women.
Corporate & institutional customers business
RBI serves around 151 thousand corporate customers across CEE as well as local and international institutional customers. Its
product range encompasses a broad spectrum of tailored solutions in the areas of finance, capital market advisory and risk
hedging as well as an extensive selection of transaction banking solutions (clearing, settlement and payment services, trade
and export finance).
RBI offers support for sustainable financing options aligned with the business model and sustainability strategy of its
customers. These sustainable financing options cover a wide range of financial instruments (bonds, promissory notes,
syndicated loans, bilateral facilities, etc.) characterized by their linkage to ESG ratings or sustainability targets, or by
demonstration of the use of proceeds.
RBI’s Sustainable Finance experts support customers in their transformation by identifying sustainable transactions.The basis
for this assessment of financial products and services includes both the regulatory framework of the EU and the international
market standards such as those of the Loan Market Association and the International Capital Markets Association. RBI
supports its customers in verifying the suitability of various projects and activities with regard to EU Taxonomy compliance
and RBI’s internal definitions of green, social or sustainable transactions. When engaging in dialog with customers on ESG-
linked products, it is important to jointly define KPIs that are important for the customer’s sustainability and business strategy.
When establishing the target values, care is taken to ensure a certain degree of ambition and that the ESG KPIs represent a
significant improvement in the customer’s sustainability position.
Raiffeisen Research ESG data solutions help both investors and companies to manage sustainability and make informed
decisions. Investors use the data to evaluate the sustainability of potential investments and ensure they align with their values,
while companies use it to track their own progress and attract investment. The solutions are designed for various customers,
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
52 Group management report
including banks, asset managers, insurance companies, and corporations, to support them in areas like risk management,
portfolio valuation, reporting, and strategic planning.
The Global Investor Gate is RBI’s user interface for all securities services products, enhancing client interaction and streamlining
post-trade operations. It allows investors digital access to Raiffeisen Research’s ESG scores per ISIN.
Sustainable financial products can be individually tailored to the customer’s needs so that they create a positive impact. RBI
supports customers in all sectors – in critical sectors such as oil and gas, and through to non-critical sectors such as renewable
energy.
RBI supports customers during financing transactions:
· In all roles – as arranger, book runner, sustainability structuring advisor and lender
· Through various financing instruments such as loans, promissory notes, bonds, guarantees and derivatives
· In various forms of sustainable financing, including sustainability-linked and ESG rating-linked formats as well as
formats where the financing is primarily dedicated to sustainable investments.
In addition to sustainable finance, RBI supports its customers on the EU Taxonomy (where applicable), subsidized financing and
corresponding subsidy programs in Austria and in the EU.
RBI assists customers in the ESG verification process. More in-depth subject-specific advice can be provided when necessary.
Furthermore, RBI supports institutional customers educational sessions to raise awareness on ESG topics, provide updates on
ongoing sustainability trends and to change the mindset towards being a sustainable banker. RBI specifically provides support
in assessing and developing ESG strategies as well as support for ongoing ESG-related processes and sustainability trends.
Retail business
RBI serves 18.5 million private individuals and small-business customers across its core markets, offering a broad range of
financial products and services, including account packages, payment services, consumer finance, mortgage loans and
investment products.
In Austria, RBI performs investment advisory and asset management services for retail customers via its subsidiary Kathrein
Privatbank Aktiengesellschaft, offers housing loans via its building society Raiffeisen Bausparkasse Gesellschaft m.b.H. and
card business via its head office.
In 2025, the focus was on expanding social loans and defining social impact within the small-business customer segment. The
bank continues to offer green unsecured purpose loans and green mortgage loans alongside mortgages with social impact,
reinforcing its commitment to environmental and social responsibility.
Business with investment products
RBI offers services related to the fund and certificates business as well as to the issuance of green bonds. A material part of
sustainable investing of customer deposits is effected via Raiffeisen Kapitalanlage-Gesellschaft m.b.H. , which is the largest
fund provider within the Raiffeisen Banking Group and therefore the focus of this report.
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. offers securities and real estate investment funds as well as investment
management products to institutional and retail customers under the brand name Raiffeisen Capital Management. Sales are
focused on Austria, but the key markets also include Italy, Germany and CEE. In Austria, sales are effected via Raiffeisen
Banking Group Austria. In other countries, sales partnerships exist with local partners. Raiffeisen Kapitalanlage-Gesellschaft
m.b.H. has established itself as a high-quality market leader in the field of sustainable investment.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 53
International leasing business
RBI’s leasing business spans the CEE region and Austria, covering four main categories:
· Cars, trucks and other vehicles (trailers)
· Forklifts and other equipment (e.g. batteries)
· Photovoltaic plants for corporate own use (cooperation with relevant partners)
· Real estate mainly in Austria via PPP (private public partnerships)
The growth in the level of ESG transactions in all business categories has continued and the outlook prioritizes car leasing,
especially e-vehicles, in cooperation with vehicle manufacturers. E-trucks and trailers might become an important driver of the
business. The long-term goal for the leasing business remains to increase ESG-eligible new business volumes.
Significant (geographical) markets
In order to achieve the maximum possible transparency and in the interest of clearer lines of reporting, segments were defined
in accordance with the IFRS 8 thresholds. The operating segments are classified in accordance with the segment classification
as described in the consolidated financial statements with the following exception: The Group Corporates & Markets and
Corporate Center segments have been combined for disclosures in the consolidated non-financial statement, and are now
referred to as Austria and other.
Employees as at the reporting date by geographical area

In headcount | 31/12/2025 | 31/12/2024
Czech Republic | 3,952 | 3,812
Hungary | 3,129 | 3,058
Poland | 409 | 420
Slovakia | 3,888 | 3,897
Central Europe | 11,378 | 11,187
Albania | 1,332 | 1,273
Bosnia and Herzegovina | 1,345 | 1,352
Croatia | 1,004 | 1,013
Kosovo | 1,694 | 1,722
Romania | 4,796 | 5,047
Serbia | 2,082 | 2,048
Southeastern Europe | 12,253 | 12,455
Russia | 8,509 | 8,852
Eastern Europe | 8,509 | 8,852
Ukraine | 5,456 | 5,690
Austria and other | 5,331 | 5,390
Total | 42,927 | 43,574
Includes all Group units of the IFRS consolidation scope with more than 100 employees. The difference to the total IFRS consolidation scope is 682 employees. |

Definition of value chain
RBI’s business model is to provide banking services to corporate customers and retail customers in Austria and CEE. Although
deposit and lending activities are the main focus of activity, RBI also offers leasing, asset management, pension fund business
and investment banking services.
Description of the upstream value chain
The upstream value chain of RBI comprises deposits, issued bonds and issued shares. RBI uses these to finance its customers’
activities. Money invested by customers in investment and pension funds is not considered part of the upstream value chain.
However, the funding and liquidity risk impact of sustainability matters on RBI’s own operations is taken into account.
The suppliers of goods and services that RBI purchases in order to carry out operating activities are considered to be a further
part of the upstream value chain.
Description of the downstream value chain
The most important components of RBI’s downstream value chain are loans and leasing financing as well as RBI’s investment
activities. Customer activities can result in positive or negative sustainability effects. Here the key element in the value chain
relates to lending to corporate customers; this element has the greatest impact materiality (inside-out perspective). An
additional key element of the value chain relates to lending to retail customers. Lending to sovereigns and financial
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
54 Group management report
institutions, or investments with central banks which are primarily for liquidity purposes, are not considered an important
element of the sustainability-related value chain. Nevertheless, where market convention has been established to include
additional information on lending to sovereigns and financial institutions (e.g. Partnership for Carbon Accounting Financials),
information is provided.
A second important downstream key value chain concerns the assets managed in investment and pension funds. Customer
activities can result in positive or negative sustainability effects. In this case, only investment activity where RBI employees
have direct operational control of the investment process is considered to be part of the value chain. This means third party
funds, where there is no direct operational control of the investment process and a limited ability to look through to the
underlying assets, are not considered a key part of the value chain.
The following activities in the downstream value chain activity which RBI does not consider material are not included:
· Cash and cash equivalents, most of which is held at central banks or in other financial institutions.
· Exposure from trading assets and liabilities are not considered due to their short-term nature. However,
sustainability risks for market risk are considered part of own operations in ESRS E1: Climate change.
· Non-consolidated associates are considered for the purposes of Scope 3 Category 15 financed emissions to the
extent that in-house data is available. However, they are not considered for other aspects of the value chain.
· Non-consolidated investees are considered for the purposes of Scope 3 Category 15 financed emissions to the extent
that in-house data is available. However, they are not considered for other aspects of the value chain.
· Investment property is not included due to the non-core nature of the business. Nevertheless, own-use property and
its impact on climate change is considered as part of the in-house ecology section in chapter Climate change.
Value chain information is currently provided in 2025 to the extent that RBI has ready access to the information.
SBM-2: Interests and views of stakeholders
Organization and purpose of engagement
RBI engages stakeholders through a decentralized approach, with business units conducting direct dialog and Group ESG &
Sustainability Management maintaining a central database. The purpose of engagement is to ensure that stakeholder
interests and views are considered in RBI’s strategy and business model. Stakeholders range from groups directly affected by
RBI’s business activities to those with an interest in its long-term development. Engagement outcomes feed into the double
materiality assessment and due diligence processes, providing input into sustainability strategy and continuous improvement.
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Group management report 55
Overview of stakeholder engagement
The following overview of stakeholder engagement is structured in line with ESRS 2 SBM-2 disclosure requirements, ensuring
that all relevant stakeholder groups, engagement formats and outcomes are covered.

Stakeholder group | Stakeholders | Format | Frequency | Considerations of outcomes
Shareholders / owners | Owners, private and institutional investors, ESG rating agencies | Annual General Meeting, investor calls, reports, Supervisory Board meetings | Annual / ongoing | Input shapes sustainability, financial and governance strategy
Clients | Corporate customers, financial institutions, sovereigns, private customers/consumers, SMEs | Client engagement meetings, surveys, complaint management, digital feedback, workshops | Annual / ongoing | Feedback integrated into product development, ESG scoring and risk management
Employees (own workforce) | Employees, Works Council, unions, Staff Council | Surveys, meetings, CEO calls | Ongoing | Results feed into people, culture and organization strategy
Sustainability Council & ESG expert groups | Internal and external ESG experts | Conferences, events, committees, advisory sessions | Ongoing | Advocacy of material ESG topics and external advice feed into RBI’s sustainability strategy
UN organizations affecting responsible banking | UNEP FI, UNGC | Expert groups, communities of practice, round tables | Ongoing | Results incorporated into responsible banking strategy and corporate culture
Regulatory and supranational authorities | European Commission, European Parliament, EFRAG, ECB, EIB, EBRD, IMF, World Bank, IFC, central banks | Consultations, meetings, reporting | Ongoing | Guidance integrated into sustainability, business, compliance and risk management
Business partners / suppliers | Consultants, auditors, suppliers, start-ups | Advisory sessions, audits, workshops | Quarterly / annual | Partnerships influence ESG venture capital; outcomes feed into improved ESG reporting and procurement management
NGOs, civil society and universities | Environmental and social NGOs, research institutes, environmental initiatives (e.g. SBTi) | Exchange and dialog, consultations, Corporate Volunteering Program, controversy requests | Ongoing | Research outcomes and NGO concerns feed into the sustainability strategy; insights from social consulting inform the human rights due diligence process
Membership organizations | WKO, EACB, EBF, UNICO, Raiffeisen Sustainability Initiative (RNI) | Forums, working groups | Annual / ongoing | Collaboration shapes advocacy positions

Governance and outcomes
Stakeholder dialogue is anchored in RBI’s governance through the Sustainability Council and the Sustainability Committee
which include internal and external ESG experts and advise the Management and Supervisory Boards. Important themes raised
through stakeholder engagement continue to include climate and nature, circular economy, human rights and financial health
and inclusion. These outcomes confirm the overall strategic direction and are taken into account in the double materiality
assessment, due diligence and sustainability strategy. In this way, stakeholder views are embedded in decision-making and the
business strategy.
SBM-3: Material impacts, risks and opportunities and their interaction with the
strategy and business model
RBI works within an environment that is characterized by numerous economic, geopolitical and environmental risks. In the
consolidated non-financial statement, it addresses the sustainability topics that have been identified within RBI as material,
that reflect the expectations of its stakeholders, and that represented the focus of its engagement in 2025. The specific
impacts of RBI on the environment, social (including human rights) and governance are described.
For an overview of how the assessment was performed, please refer to the chapter IRO-1: Process to identify and assess
material impacts, risks and opportunities.
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56 Group management report
Description of material impacts, risks and opportunities (IRO)
The outcomes, including both the material topics from own operations as well as from the value chain, are shown below:
E1 Climate Change

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholders
Climate change mitigation Energy | CO 2 emission reduction | Actual negative impact | Downstream through lending business as well as through assets under management in Austria | Medium to long-term | Lending to and investing in high-carbon industries and fossil fuel projects can undermine efforts to reduce emissions and delay progress towards climate goals. Climate change mitigation focuses on reducing greenhouse gas emissions to slow the pace of global warming. Financing and investing in non-renewable energy projects can slow the transition to sustainable energy, locking in carbon-intensive infrastructures and increasing long-term environmental and economic risks. | Non-retail; retail; assets under management | Sustained growth | Customers
| Potential Financial risk | Downstream through lending business as well as through assets under management in Austria | Long-term | Credit Risk: Customers in carbon-intensive industries which do not transition are exposed to a higher financial risk due to effects of climate change, regulatory pressures, and market shifts, increasing the likelihood of loan defaults. | Non-retail; retail; | Sustained growth | Customers
| Actual positive impact and financial opportunity | Downstream through lending business as well as through assets under management in Austria | Short to long-term | Despite the challenges, there are significant opportunities for RBI, including a positive impact on the environment: Green financing: Expanding loan and investment portfolios to include renewable energy projects can attract new customers and enhance RBI’s sustainability profile. Sustainability-linked products: Offering green bonds, sustainability-linked loans and other eco-friendly financial products can cater to the growing demand from environmentally conscious customers. Financing energy projects: There are ample opportunities for funding renewable energy infrastructure, energy-efficient technologies and other sustainable initiatives. Advisory services: Providing expertise and consultancy services to corporate customers transitioning to sustainable energy practices might smoothen the transition risk of corporate customers and enhance RBI’s sustainability profile Assets under management: New demand patterns and technological innovation focusing an energy efficiency lead to new investment opportunities (for equities and fixed income investments). Products with a dedicated focus on climate change mitigation continue to attract customers´ funds. | Non-retail; retail; assets under management | Sustained growth | Customers
Climate change adaptation | Physical risk | Potential financial risk | Downstream through lending business | Long-term | Physical risks refer to the risks related to the physical impact of climate change. | Non-retail; retail; | Sustained growth | Customers
Climate change mitigation | Climate-fit operations | Actual negative impact | Own operations | Medium to long-term | RBI’s business activities have a negative impact on the climate through greenhouse gas emissions (Scope 1-3), which stem mainly from energy consumption, material consumption and business travel. | n.a. | Sustained growth (in-house ecology) | Employees
Climate change adaptation | Adaptation risks (natural and governance) | Actual negative impact | Own operations | Medium to long-term | Impact of re-modelling/renovating of buildings to adapt to different climate conditions; lifespan of assets may be impacted; energy and procurement prices may be impacted. | n.a. | Sustained growth (in-house ecology) | Employees
Energy | Sustainable operations | Actual negative impact | Own operations | Medium to long-term | The use of fossil fuels further contributes to the emission of CO2 and enhances climate change. Therefore, as a large market contributor, RBI can negatively impact its own footprint by sourcing energy derived from fossil fuels. The same cost factor could instead be used to support a growing transformation towards renewable energy. | n.a. | Sustained growth (in-house ecology) | Employees

E4 Biodiversity and Ecosystems

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Direct impact drivers of biodiversity loss Impacts on the extent and condition of ecosystems Impacts on the state of species | Biodiversity and ecosystems | Actual negative impact | Downstream | Medium to long- term | Through its financing and investing activities, RBI facilitates the destruction of ecosystems and biodiversity loss. As biodiversity is highly connected with climate topics and crucial due to its irreversible consequences and potential to create stranded assets, it also affects investment stability and is a topic of banking supervision. | Non-retail; assets under management | Sustained growth | Customers

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
57 Group management report
E5 Circular Economy

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Resource inflows | Resource use | Potential positive impact | Own operations | Long-term | RBI enhances sustainability by effectively managing resource inflows. This is achieved through a suitable procurement Code of Conduct (COC) and by prioritizing the acquisition of energy-efficient IT equipment and hardware for the offices. These measures ensure efficient and environmentally friendly material use. | n.a. | Sustained growth (in-house ecology) | Employees
Resource inflows Resource outflows | Circularity | Actual negative impact | Downstream through lending business as well as through assets under management in Austria | Short-term | RBI's financing and investing activities in the sectors of real estate and transport, energy supply as well as packaging contribute to negative impacts such as waste generation and environmental strain. | Non-retail; retail; assets under management | Sustained growth | Customers

S1 Own Workforce

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Equal treatment and opportunities for all | Diversity, equity and inclusion | Actual positive impact and/or actual/potential negative impact | Own operations in CEE | Short to medium-term | An inclusive work environment allows everyone to be themselves, enhancing job satisfaction and personal growth. Embracing diversity broadens perspectives, improves cultural competence and promotes a healthy and positive workplace. Poorly managed diversity can in individual cases cause exclusion, discrimination and lower motivation, harming job satisfaction and well-being. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE
Equal treatment and opportunities for all | Employee development | Actual positive impact | Own operations in CEE | Short-term | Comprehensive learning fosters professional and personal growth and boosts employee satisfaction and motivation. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE
Working conditions - working time; health and safety | Mental and physical health enablement | Actual positive and actual/ potential negative impact | Own operations in CEE | Short to medium-term | Healthcare, well-being and sports opportunities can enhance physical and mental health, boosting overall productivity. Conversely, persistent stress and sedentary office work can in individual cases lead to chronic pain, obesity, cardiovascular issues, mental health problems and decreased productivity. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE
Working conditions - social dialog; freedom of association | Employee involvement | Actual positive and potential negative impact | Own operations in CEE | Short to long- term | Employee involvement enhances engagement and loyalty by giving employees a voice and ensuring they are heard. Failing to address employee needs and capture their mood may leave potential problems unresolved, negatively impacting satisfaction. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE
Working conditions - secure employment; adequate wages; collective bargaining; work-life balance | Employee relationships | Actual positive impact | Own operations in CEE | Short to long- term | Secure and flexible employment enhances financial stability, work-life balance and overall employee satisfaction. The nature of the employment relationship impacts health, influencing stress levels and well- being. Benefits for part-time and temporary employees foster inclusivity and engagement for a healthier work environment. Additionally, flexible working hours allow employees to manage their time effectively, improving their quality of life. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE
Other work-related rights - privacy | Protection of personal data | Potential negative impact | Own operations in CEE | Medium-term | Proper data privacy handling fosters trust and ensures personal information is secure. Poor data privacy practices can lead to breaches, causing stress and loss of trust. | n.a. | Attractive and high-performing working culture | Primarily employees in administrative and branch offices in Austria and CEE

S2 Workers in the value chain

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Working conditions Equal treatment and opportunities for all | Workers in the value chain, human rights protection | Potential negative impact | Downstream | Medium to long-term | Through its financing and investing activities, RBI could indirectly facilitate negative issues of equal treatment, working conditions and other work-related rights, leading to potential health and safety risks, inadequate wages and lack of social protection. | Non-retail | Strong risk governance | Workers in the value chain of RBI’s customers

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
58 Group management report
S3 Affected communities

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Communities economic, social and cultural rights | Affected communities’ human rights protection | Potential negative impact | Downstream | Medium to long-term | RBI is committed to upholding the economic, social and cultural rights of communities through its responsible financing policies and practices as well as investment policies for AuM. By excluding or limiting financing and/or investing (AuM) in industries such as tobacco, gambling, defense, oil and gas, thermal coal, nuclear power and food, RBI protects community health and the right to life, to food and to a healthy environment. Additionally, RBI´s rigorous assessment of governance risks, including corruption and unethical practices in counterparties, helps promote transparency and accountability. | Non-retail; assets under management | Strong risk governance | Affected comm- unities of RBI’s customers
Social progress enablement and reduction of social inequalities | Actual positive impact | Downstream | Medium to long-term | Through its financing and investing activities, RBI facilitates supporting community well-being by providing loans that enhance access to essential services, education and employment, and by focusing on job creation. | Non-retail | Sustained growth | Affected comm- unities of RBI’s customers
Reduce social or regional inequalities | Actual positive impact and potential financial opportunity | Downstream | Short term; medium to long-term | In its financing and investing activities, RBI also focuses on empowering small and medium-sized enterprises, particularly in underdeveloped regions, to drive economic growth and social progress. | SMEs, retail | Sustained growth; sustained business growth and long-term business model profitability | Affected comm- unities of RBI’s customers

S4 Consumers and/or end-user s

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Information-related impacts for consumers and/or end-users | Privacy | Actual positive impact and potential negative impact Potential financial risk | Own operations | Short to medium-term; Medium-term | Strengthened customer trust through transparent and lawful processing of personal data; increased confidence in the financial system. Data breaches of personal data can facilitate misuse and discriminatory practices, financial loss, theft or fraud. In addition, failure to respect data subject rights can erode trust in the financial system. GDPR non-compliance may result in administrative fines, compensation claims, litigation and reputational damage with financial consequences. Cyber attacks, unauthorized access, information leakage/breach, malicious behavior (e.g. misuse or fraud) or third-party/supply-chain security incidents could lead to financial risks potentially resulting in financial damages, financial and personnel expenses, increased insurance premiums, etc. | Retail | Customer centricity (trust and reliability) | Private individuals (consumers), supervisory authorities, business partners/service providers, employees
Cyber security & resilience | Actual positive impact and potential negative impact | Own operations | Short to medium-term | Protection of information against unauthorized access (confidentiality) and unauthorized manipulation (integrity), resilient services are available on demand, trust in the financial system, lower impact and fewer cases of security incidents. Failure can lead to mistrust, unauthorized access, misuse or manipulation of confidential information; unavailability of systems and services. | Retail | Speed and adaptability (cyber security & resilience) | Private individuals (consumers)
Information-related impacts for consumers and/or end-users Social inclusion of consumers and/or end-users | Access to (quality) information | Actual positive impact and potential negative impact Actual financial risk | Own operations | Short to medium term; short-term | Transparency of terms, prices and risks, supported by financial education programs and product comparison, helps customers to make informed decisions. This underpins sustainable business relationships and financial inclusion. Damage to trust, financial harm to consumers (potential over-indebtedness and personal bankruptcy), insufficient competence and risk assessment in the capital market, erroneous investment decisions, misunderstanding of foreign exchange risks. Expenses from lawsuits related to consumer protection. | Retail | Sustained growth | Private individuals (consumers)
Social inclusion of consumers and/or end-users | Non- discrimination | Actual positive impact and potential negative impact | Own operations | Short to medium-term | Same chances for all, especially for vulnerable people such as people with disabilities or retirees, foster fair and ethical business practices. Discrimination against RBI customers might cause financial disadvantages and social exclusion, limiting their opportunities. | Retail | Customer centricity | Private individuals (consumers)
Access to products and services | Actual positive impact and potential negative impact | Own operations | Short to medium-term | Removed barriers (physical and digital) lead to independence in financial matters, usage of financial products gives opportunities, safeguarding the stability and integrity of the financial system. If RBI fails to ensure that vulnerable groups can access its products and services, customers could suffer financial harm and trust in RBI could be undermined. | Retail | Customer centricity | Private individuals (consumers)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
59 Group management report
G1 Business conduct

ESRS subtopic | IRO short name | IRO type | Value chain | Time horizon | IRO description | Business model | Response in strategy decision- making | Stakeholder
Corporate culture | Culture of integrity | Actual positive impact and potential negative impact | Own operations, upstream and downstream | Short to medium-term | At RBI, fostering a strong culture of integrity is essential for creating a trustworthy and secure environment for its employees. Ethical behavior ensures that staff feels valued and respected, which enhances their overall well-being and job satisfaction. Moreover, it encourages a positive organizational culture that promotes accountability and transparency. A robust integrity framework also empowers employees to make ethical decisions, contributing to their professional growth and development and promoting fair business practices. This reduces the likelihood of unethical conduct that could harm communities. Conversely, a weak culture of integrity can lead to internal instability, lower employee morale and increased incidences of unethical behavior, which not only jeopardizes RBI`s internal environment but also has broader negative implications for societal trust and ethical standards | Primarily employees in administrative and branch offices in Austria and CEE, retail, non-retail, assets under management | Strong risk governance | Employees, private individuals (consumers, suppliers, public)
Protection of whistleblowers | Protected whistleblowers | Actual positive impact and actual negative impact | Own operations | Short-term | Whistleblowing enhances transparency and accountability both inside and outside RBI while maintaining good workplace ethics. Proper management of whistleblowing and retaliation processes is essential to prevent severe psychological stress. If not handled professionally, it can lead to significant harm for whistleblowers, including employees and other stakeholders. Ensuring robust protection for all whistleblowers is crucial to fostering a safe and ethical environment where individuals feel empowered to report misconduct without fear of retaliation | Primarily employees in administrative and branch offices in Austria and CEE, retail, non-retail, assets under management | Strong risk governance | Employees, private individuals (consumers, suppliers, public)
Corruption and bribery | Prevent corruption | Actual positive impact | Own operations | Short-term | At RBI, the effective prevention and detection of corruption and bribery are fundamental to maintaining a transparent and accountable workplace. By fostering a culture of integrity and providing comprehensive training, RBI empowers its employees to uphold high ethical standards and recognize potential risks. This proactive approach has a positive impact on society. | Primarily employees in administrative and branch offices in Austria and CEE, retail, non-retail, assets under management | Strong risk governance | Employees, private individuals (consumers, suppliers, public)
Incidents of corruption | Actual negative impact | Own operations | Short-term | Failure to promote fair business practices, safeguard the public interest and ensure independence and adherence to ethical standards can undermine industry confidence, harm public trust and contribute to an unjust and inequitable society, reflecting negatively on our commitment to ethical conduct both within and beyond our organization. | Primarily employees in administrative and branch offices in Austria and CEE, retail, non-retail, assets under management | Strong risk governance | Employees, private individuals (consumers, suppliers, public)
Entity-specific | Anti-money laundering and counter-terrorism financing | Actual positive impact and actual negative impact | Own operations | Short-term | Effective management of these topics enhances public safety and strengthens the economy. Mismanagement of anti-money laundering and counter-terrorism financing efforts can increase criminal activities, terrorist risks and jeopardize public safety and the economy. | Retail; non-retail; assets under management | Strong risk governance | Public
Political engagement | Enabling informed policy decisions & industry insights | Potential positive impact | Own operations | Medium-term | Political engagement enables banks to provide well-prepared information and arguments, helping legislators understand complex issues and make decisions in society’s best interest. This involvement not only shapes favorable policies but also enhances RBI's reputation by demonstrating its dedication to societal issues. | n.a. | Strong risk governance | Public
Management of relationships with suppliers including payment practices | Fair partner to suppliers supporting high ESG standards | Potential positive impact | Upstream | Medium-term | Transparent partnerships and compliance with fair payment practices create stable and positive cooperation between RBI and its suppliers. Including ESG-related criteria in the onboarding and selection process enhances supplier engagement and ensures high social and environmental standards. Effective supplier management in IT, consulting and facility management impacts responsible business practices. | Suppliers | Sustained growth | Suppliers, public

The double materiality assessment will be re-evaluated in a regular annual process. Accordingly, in 2025 climate change adaptation for the value chain (E1 Climate change) is considered financially
material, as financial risk from adaptation-related physical climate events (floods, storms, droughts, heatwaves) can cause losses that affect borrowers or the assets securing their loans—most
notably financing backed by real estate collateral and corporate customers with production sites exposed to such hazards. The discrimination sub-topics within the S1 Own workforce topic—
particularly equal treatment and equal opportunities for all (including gender equality and equal pay for work of equal value) and measures against violence and harassment in the workplace—are no
longer classified as potential financial risks but remain a key issue due to their significant impact on equal treatment and equal opportunities for all, as well as diversity and inclusion.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
60 Group management report
Impact, risk and opportunity management
IRO-1: Process to identify and assess material impacts, risks and opportunities
In 2025, RBI reviewed the results of the double materiality assessment (DMA) conducted in accordance with the ESRS for the
current reporting period. The DMA distinguishes between impacts, risks and opportunities arising directly from RBI’s own
operations and those connected to its value chain. Stakeholder perspectives were integrated through multiple channels as
described in SBM-2: Interests and views of stakeholders. The material topics and resulting impacts, risks and opportunities are
presented in SBM-3: Material impacts, risks and opportunities and their interaction with the strategy and business model.
Double materiality assessment process
The double materiality assessment (DMA) process entails the systematic identification and assessment of financial and non-
financial (environmental, social, governance) impacts, risks and opportunities from the perspectives of the company and
external stakeholders. Each sustainability topic was assessed in all applicable quadrants of this matrix. This systematic
approach ensures that material issues are identified comprehensively and consistently across RBI’s business model.
The DMA was reviewed in 2025 by the CSRD implementation project team, consisting of finance and sustainability experts. The
results were subsequently reviewed and approved by the Management Board on 15 December 2025 and by the Audit
Committee of the Supervisory Board on 16 December 2025. Sustainability matters that met the relevant thresholds in the
assessment and were approved by the relevant bodies are considered material and are disclosed in SBM-3: Material impacts,
risks and opportunities and their interaction with the strategy and business model.
Identification
The identification of relevant sustainability matters started from a comprehensive long-list aligned with the ESRS structure at
sub-sub-topic level, thereby covering the full scope of matters defined in the standards. To refine this list, RBI combined
internal perspectives from employees, representatives and subject matter experts across business areas and subsidiaries with
external perspectives from investors, regulators, customers and suppliers. Engagement with these groups informed the
selection of relevant topics, while supervisory expectations from the ECB and the EBA, methodologies from the UNEP FI
Principles for Responsible Banking and internal analyses such as financed emissions, climate stress tests and risk reports were
also taken into account. The outcome was a list of potentially material ESRS topics covering both own operations and
portfolio-related exposures, which formed the basis for the subsequent materiality assessment.
Assessment

| Impact materiality | Financial materiality
Own operations | Assessed using ESRS criteria of scale, scope, likelihood and irremediability. Topics such as in- house ecology, own workforce and compliance were scored, with outcomes adjusted by expert judgement where appropriate. | Assessed on likelihood and magnitude of financial effects using tools such as operational risk scenario analysis.
| Threshold: 0.66 | Threshold: qualitative, based on risk criteria
Value chain (portfolio) | Assessed using the UNEP FI Impact Analysis methodology, which links sectoral and geographic exposures to sustainability impact areas. RBI segmented the portfolio by business line, sector and country of operation, and applied exposure at default as a weighting factor. Impacts were mapped to ESRS sub-topics and scored on scale, scope and irremediability. | Assessed on likelihood and magnitude of potential financial effects. Embedded in ICAAP, stress testing and risk appetite framework.
| Threshold: 0.66 | Threshold: A percentage of CET 1 capital.

Impact materiality
RBI identifies material sustainability topics by combining information from both direct (own operations) and indirect (portfolio
and value chain) contexts. In both cases, the assessment is based on ESRS criteria, but the application of the criteria differs
depending on the type of activity. The portfolio’s impact materiality assessment was conducted using the United Nations
Environment Programme – Finance Initiative (UNEP FI) Impact Analysis Tool. This tool, developed in collaboration with
signatories of the Principles for Responsible Banking (PRB) and UNEP FI member banks, provides a framework for assessing the
impacts associated with financial portfolios.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Criterion | Direct context – own operations | Indirect context – portfolio / value chain
Scale | Magnitude of operational impacts (e.g. energy consumption, CO₂ emissions, employees affected, workplace health and safety). | Exposure at default (EAD) of sectors linked to ESRS sub-topics, reflecting the financial size of potential impacts.
Scope | Number of people, assets or geographies affected by RBI’s own operations (e.g. employees across locations, supplier reach). | Geographic relevance of exposures, adjusted for country-specific sustainability needs in CEE and beyond.
Likelihood | Probability that an operational impact, risk or opportunity will occur (e.g. compliance breaches, IT outages). | Probability that ESG risks/opportunities materialize at client level and affect portfolio quality (e.g. transition risks, litigation, reputational effects).
Irremediability | Degree to which operational impacts can be mitigated or reversed (e.g. accident consequences vs. minor efficiency losses). | Permanence of portfolio-related impacts (e.g. biodiversity loss, carbon lock-in in financed sectors).

These four criteria—scale, scope, likelihood and irremediability—combine to create an overall impact score for each ESRS sub-
topic. This score serves as the basis for the double materiality analysis, following ESRS guidelines. A materiality threshold of
two-thirds (66.7 per cent) is applied to determine which ESRS topics are considered material and should be prioritized. The
quantitative score can also be adjusted using qualitative inputs such as stakeholder feedback or contextual insights, ensuring
a more holistic assessment of the portfolio’s indirect impacts.
Financial materiality
The assessment follows ESRS guidance and is embedded in RBI’s ESG risk framework. The table below summarizes the criteria
and their application in practice.

Criterion | Application at RBI | Reference in RBI process
Likelihood | Assessed by considering current and future legislation, supervisory expectations (ECB, EBA) and reputational aspects. | Used to determine the probability that a sustainability topic will have financial effects.
Magnitude | Measured financially | Confirms the financial significance of ESG topics.

The financial materiality of risks is assessed based on a combination of the likelihood of occurrence and the potential
magnitude of the financial effects. For the likelihood of occurrence, factors such as current and future legislation as well as
reputational considerations are considered.
Topic-specific disclosure requirements
Climate change
Own operations
Impact materiality assessment
In terms of RBI’s own operations, the double materiality principle means understanding and taking into account the impact of a
company’s own activities on the environment and the impacts of environmental issues for the respective company.
At RBI, the key materiality indicator is the volume of absolute greenhouse gas emissions (Scopes 1-3) that are caused by various
activities, such as energy consumption and business trips. These emissions have an adverse impact on the climate and are
therefore considered, even though the focus rests on RBI’s financed emissions due to their much larger weight. Although the
impact of greenhouse gas emissions on the climate is entirely negative, aspects such as the use of renewable energy and the
promotion of energy efficiency can mitigate the adverse effects.
Financial materiality assessment
The risks of operational activities are closely related to the environmental concerns set out to be managed in the CSRD. The
biggest risk to the economy, society and the environment is the unwillingness of companies to counteract climate change,
which leads to increased global warming with the known negative impacts. In addition to external environmental risk, RBI and
its operating locations are subject to physical, regulatory and reputational risks (outside-in perspective). In the area of physical
risks, for example, natural disasters could result in damage to property. These risks are minimized by selecting the right
locations and appropriate property insurance (adaptation strategy).
These risks are managed by continuously observing the environment and by consulting specialists in controlling the respective
measures. Risks are classified as material when they endanger the achievement of RBI’s medium to long-term climate targets
– particularly with regard to energy consumption – or when stakeholders classify them as material for RBI. The measures set
out are currently heavily focused on the area of energy, with examples including targeted increases in energy efficiency and
structural alterations to building facades.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
62 Group management report
The physical risks of climate change, such as greater and more frequent temperature fluctuations, often result in higher
operating costs, e.g. due to the increased need for cooling. Risk management is based on a combined bottom-up and top-
down approach in which employees also play a significant role in risk minimization in their respective working area.
RBI strives to make a positive contribution to society with concrete steps relating to environmental management. RBI is
contributing to meeting the goals of the UN climate change conference in Paris (Conference of the Parties 21) by working to
reduce greenhouse gas emissions, as well as promoting the renewable energy sector of the economy. In 2024, the methodology
provided by SBTi (Science Based Targets Initiative) was used to recalculate the Group targets for its own operations to align
with the 1.5°C pathway required by the CSRD. Due to the expanding consolidation scope in sustainability reporting and the
increasing number of data points considered for the CO 2 footprint, 2024 was set as the new base year to calculate RBI’s new
emission reduction targets.
Value chain
ESG risk framework
The ESG risk framework is intended to ensure implementation across the four risk management pillars, offering a high-level
overview and guidance for ongoing and planned risk management activities at RBI. These actions are motivated by the
expectations of internal and external stakeholders. RBI reviews the framework on a yearly basis and updates it with the latest
available trends and future expectations. It is then approved by the Management Board.

Policy | ESG risk framework
General objective | This document sets out how to standardize governance in all ESG risk related internal regulations and processes, and ensure full compliance with the regulatory ESG requirements/processes.
Related IRO | ESG risk management and business steering
Key content | Standardizes the whole range of internal regulations and policies related to ESG, climate and environmental (C&E) processes, principles, measurement, assessments and monitoring in business and risk management areas
Process for monitoring | Application of and compliance with internal regulations and policies related to ESG and C&E processes, principles, measurement, assessments and monitoring in business and risk management areas
Scope / exclusions | Employees working within the risk area, and across all business lines
Value chain / own operations | Own operations
Affected stakeholder | This policy shall be implemented at the Group level and in all the local units. Each unit shall design their own ESG risk framework in line with this policy and comply with local regulations.
Most senior level responsible | RBI Board level
Reference to third party standards/ initiative | ECB guide on climate-related and environmental risks; EBA guidelines on ESG risk management; Principles of Responsible Banking; Science Based Target Initiative
Consideration of key stakeholders | This policy shall be implemented at RBI including all local units. Each unit shall design their own ESG risk framework in line with this policy and comply with local regulations.
Availability to pot. stakeholders | Sustainable Finance, Group Corporate Risk Management, Group Risk Controlling, Corporate Customers

All relevant aspects of risk management and monitoring where applicable, include assessing and monitoring of ESG risks.
Climate and environmental risks (transition and physical risks) are processed at the counterparty level, as well as via
comprehensive materiality assessment and the internal/external climate scenario analysis. Social and governance aspects are
also included and are gaining increasing importance. RBI reviews the ESG risk framework on a yearly basis, updates it to the
latest available trends and future expectations and has it approved by the Management Board.
ESG-related risks have been accounted for by enhancing the existing classical four pillars of risk management on multiple
operational levels:
· Identification and definition of ESG risks
· Measurement methodologies and analytics
· Steering approaches, reflecting risks and opportunities
· Risk processes and governance
· Monitoring and double materiality assessment (short, medium and long term)
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 63
RBI’s progress is measured via the regular monitoring and establishment of internal ESG KPIs. The main topics reflected within
each pillar are highlighted below:

I. Identification & definition of ESG risks | II. Measurement methodologies & analytics | III. Steering approaches, reflecting risks & opportunities | IV. Risk processes and governance
· Climate-related and environmental risks | · Use of metrics for measurement of ESG risks on a customer and portfolio level | · Sectoral strategies & special policies | · Credit processes enhancement (ESG status assessment in underwriting decision)
· Identifying risks according to: · Climate change · Circularity · Biodiversity | · Environmental, Social and Governance score · Green Asset Ratio · Financed GHG emissions · Methods of science-based measurement for biodiversity topics (PBAF-based) | · Climate stress testing based on scenario analysis | · Prevention of liability, reputational and greenwashing risk in the design phase
· Social risks | · ESG scoring | · Internal policy: ESG Risk Management Principles | · ESG status assessment in underwriting decision
· Governance risks | · ESG scoring | · Internal policy: ESG Risk Management principles | · ESG status assessment in underwriting decision

Risk management processes and governance
From a risk management and supervision perspective, ESG risks are viewed as cross-dimensional risks that affect all areas of
risk management. The materiality assessment forms the basis for implementation of the ICAAP (Internal Capital Adequacy
Assessment Process). Each relevant risk department (market, operational, liquidity and credit risk) is responsible for measuring
environmentally driven risks over each specific time horizon (long term, short term and medium term). The ESG risk framework
and processes are continuously updated, refined and adjusted to the current standards.
As part of the RBI risk strategy, the overarching Group risk tolerance is set at a threshold of <100 per cent of overall risk
capacity. The impact of transition risks and physical risks on the risk profile has been introduced to the economic perspective
of the ICAAP as an item for deduction from pillar 2 capital. This item has been defined on the basis of the climate risk stress
test result. As such, these risks are included in the overarching risk appetite budgeting or are bundled together with all other
risk types measured under pillar 2 for the short-term horizon (up to three years). Finally, the results of the yearly materiality
assessment are included for further development in the ICAAP framework.
In the identification and management of environmental factors and risk, RBI aims to make use of market best practices. For
the environmental risk RBI bases its scenario analysis on the NGFS framework (Network for Greening the Financial System), and
the scenarios developed by the NGFS. Also when assessing physical risks, the impact is evaluated under different transition
scenarios in line with the NGFS framework. In addition to this, RBI’s reduction targets on financed emissions have been set to be
in line with the EU 2030 targets (see chapter E1-1: Transition plan for climate change mitigation).
Assessment of the materiality of climate and environmental risks
The development of climate and environmental risks (as measured via the range of factors described below) is regularly
reported to the Group Risk Comm ittee.
Complementing the impact analysis performed using the UNEP FI Portfolio Impact Analysis Tool (s ee chapter Impact
materiality assessment and in line with the ECB guide on climate-related and environmental risks (expectations 7.2 and 7.31), an
extended annual risk assessment for climate and environmental risk drivers is implemented within RBI’s risk framework. The
result of the risk assessment is considered in the DMA. The UNEP FI portfolio impact analysis considers the inside-out
perspective (including the financed emission calculation as well as how science-based targets measure and mitigate the
inside-out impact). The materiality assessment described below focuses on the outside-in view.
The additional climate and environmental risk assessment process has been established to identify the severity of
environmental risks from applicable transmission channels within the current portfolio and over different time horizons. This
multi-dimensional approach considers:
· Different individual climate and environmental risk drivers (physical risk, transition risk, and other environmental risks
such as risks stemming from ecosystem services and biodiversity risks)
· The impact of each climate and environmental risk driver through risk-dependent transmission channels, assessed
for each risk type (credit, market, operational, reputational and liquidity risk)
· The impact under different transition risk scenarios (see Cha pter Climate stress testing)
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
64 Group management report
Identification of ESG risks
In the first phase, RBI placed particular focus on climate-related and environmental risks, although social and governance risks
are also gaining increasing attention in internal risk management initiatives, especially with new regulations such as the
upcoming EBA guidelines. An initial qualitative approach, informed by expert opinion, has been further supported by
quantitative assessments including impact analyses, materiality assessments, financed emissions calculations and climate
stress tests.
The definition of ESG risks and the transmission channels to traditional risk types are explained in more detail in the following
chapter. The knowledge gained is transferred across the organization (including all of RBI’s subsidiaries) through different
training activities (training sessions for new topics, regular exchange sessions, etc.). ESG risk training has become mandatory in
the risk area.
Calculating financed emissions helps RBI in identifying the most carbon-intensive industries in its non-retail portfolio. A more
detailed description and results are included under the chapter E1-6: Gross GHG emissions of categories Scope 1, 2, and 3 as
well as total GHG emissions.
M easurement methodologies & analytics
For sovereign, corporate and FI customers as well as for project finance transactions, RBI has developed an ESG customer score
by measuring the impact of ESG-related risk through individual scores.
ESG customer score
The ESG customer score is used to:
· Assess the ESG performance of customers
· Assess the medium- to long-term risk arising from customers’ behavior
· Identify customers with restrictive, transformative or supportive ESG performance and draw conclusions for
individual underwriting decision on certain customers
The ESG score is based on the following components:
· Environmental: Measures the impact of transition risk and physical risk. Focus areas aim to support the transition to
net zero GHG emissions, the circular economy and biodiversity; in addition, RBI is able to identify those customers
that it would like to support further: either on their way to a low-carbon economy, as a contributor to the circular
economy, or due to their low impact/enabling function vis-à-vis the environment (already green industries). The E
score is determined on the basis of both quantitative and qualitative factors. Quantitative factors that are
considered in the E score relate to the following (this list is not exhaustive):
· Customer CO 2 emissions (all 3 scopes)
· Energy consumption
· CO 2 reduction targets
· Water use
· Share of renewables etc.
Qualitative factors address the actions that the company has put in place to further reduce its environmental
footprint in the future.
· Social: Capturing social risks at the customer level and identifying those with a negative impact on society and/or
that contradict RBI’s standards and reflect negatively on RBI’s reputation. Positive impacts will also be considered
and potential support for such customers may subsequently be envisaged. A more extensive update of the ESG
scoring model was performed in relation to human rights. RBI has taken a closer look at the following areas relating
to its customers:
· Social/human rights-related code of conduct and supplier screening
· Minimum safety standards in the work environment
· Appropriate business behavior
· Supporting diversity and educational aspects at the employee level
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 65
The social questions for assessing social risks can be assigned to five major areas:
· General information
· Human capital/human rights
· Responsible production
· Product-related aspects
· Customer-related aspects
· Governance: governance-related risks at the customer level are measured by scoring questions on transparency,
business ethics, diversity, strategy and risk management, specifically at the top management level.
The ESG customer score is based on assessments by internal analysts. Qualitative and quantitative information on E
(Environment), S (Social) and G (Governance) criteria is used to evaluate the customer. All customers in the corporate, project
finance and sovereigns category as well as financial institutions have an ESG score.
Customer data collection
The availability of high-quality ESG data is critical for RBI to develop internal customer ESG scoring, enhance financed-
emissions calculations and enable evidence-based internal steering. RBI has therefore developed a two-stage strategy for
data collection. If a company has a machine-readable sustainability report or integrated annual financial statement, ESG data
is extracted using an AI tool and verified for accuracy by an expert. Otherwise, RBI uses a customer questionnaire to gather
relevant information on environmental aspects directly from customers.
In Austria, RBI used the OeKB ESG Data Hub questionnaire until the end of June 2025. In light of the EU omnibus proposal and
the resulting stagnation in mandatory ESG disclosures, RBI decided to switch to an internal data collection process. In some
CEE countries, national standards have been developed for the questionnaire-based collection of ESG data.
RBI’s ESG questionnaire covers the main environmental aspects, e.g.
· Greenhouse gas emissions
· CO 2 reduction targets
· Circular economy
· Energy consumption
· Water consumption
· EU Taxonomy KPIs (revenue, CapEx)
Social and governance-related information is taken from annual reports and sustainability reports.
To further improve data availability and data quality, RBI employs a mix of measures:
· Engaging with customers and creating awareness for the importance of ESG data
· Implementing KPIs at board level
· Performing data quality checks
· Visualizing data collection progress through reports and dashboards
The remaining topics included in the second pillar can be found in the specific CSRD chapters:
· Green Asset Ratio (see chapter Regulatory disclosure requirement in accordance with Article 8 of the EU Taxonomy
Regulation)
· Financed emissions (see chapter E1-6: Gross GHG emissions of categories Scope 1, 2, and 3 as well as total GHG
emissions)
· Target setting (see chapter E1-4: Targets related to climate change mitigation and adaptation)
Financial planning
In 2025, RBI assessed in its ESG risk framework the material impacts, risks and opportunities within its short-to medium-term
financial planning for the period 2026-2028 as follows:
· Climate change adaptation and mitigation – E1: Climate and environmental risk costs, particularly potential ESG-
induced loan defaults, were specified and quantified at the country level. These were assessed as not material in the
short and mid-term planning.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
66 Group management report
· Privacy – S4: Information and cyber security: RBI took technical and organizational measures to protect its bank and
customer data from unauthorized access, cyber hacking attacks, malware, distributed denial-of-service (DDoS)
attacks, ATM fraud, data leaks, phishing attempts, disclosure of sensitive information and a variety of other threats.
All expenses for technical and organizational measures to safeguard bank and customer data against cyber threats
were included in the planning.
· Access to Quality Information (legal risk) - S4: From pending customer lawsuits related to foreign currency
mortgages in Poland and Croatia the expected costs were included in the financial planning.
Individual climate and environmental risk drivers
Transition risk
Transition risks are defined as the risks associated with the adjustment process towards a low-carbon economy. Drivers of
transition risk include changes in politics, legislation and regulations, technological developments and shifts in market and
customer sentiment. These factors have the potential to generate, accelerate, slow down or disrupt the transition towards a
low-carbon economy. The transmission channels shows how these drivers lead to financial risks. RBI has identified transmission
channels in line with the Basel Committee on Banking Supervision (BCBS) paper on climate-related risk drivers and their
transmission channels (April 2021):
· Credit risk
Credit risk increases when climate and environmental risk drivers reduce borrowers' ability to repay their debts. For corporate
portfolios, macroeconomic and climate-related factors such as carbon taxes and emission trading system (ETS) expenses are
used to create sector-specific forecasts of production and operating costs, which then impact borrowers' financial metrics like
operating income or green transition expenses. These projections simulate default probabilities in RBI's rating models for
materiality assessments across different transition scenarios. For retail customers, transition-driven factors like energy costs
and inflation add financial burdens. The overall materiality is evaluated via the climate stress test (see Chapter Climate stress
testing) by measuring the maximum increase in impairments in the orderly and disorderly transition scenarios.
· Market risk
Transition-related shifts in public policy, technological innovation and investor sentiment may change assessments of future
economic conditions and asset valuations, potentially triggering negative price shocks and increased market volatility in traded
instruments. The shift to a low-carbon economy, for instance, can impact commodity markets, particularly fossil fuels, as well
as companies operating in GHG intensive industries that are exposed to transition risk. The impact of transition risk on market
risk is evaluated using an internally developed methodology that assigns risk levels to both corporate and sovereign issuers.
These assignments are based on the issuer's NACE code/industry and the risk profile of the issuer's country. Corporate
exposures are associated with NACE codes/industries, and risk levels are determined by the industry's share of GHG emissions
within the country's total GHG emissions profile. For sovereigns, risk levels are determined by factors such as the country’s GHG
emissions, gross value added (GVA), wages and salaries, social security costs, environmental taxes, operating surplus and self-
employed income. The materiality of market risk is assessed based on the total loss evaluated.
· Liquidity risk
On the assets side, inflows from customer loan repayments or the value of securities held in the liquidity buffer may decline
due to the deteriorating creditworthiness of counterparties. At the same time, on the liabilities side, outflows from current
accounts or deposits may occur, particularly among customers operating in high transition risk (GHG intensive) industries.
These effects have not been recorded historically, and liabilities and retail loans are not considered vulnerable to such
transition risks. If transition risk materializes over a period longer than three months - for instance, through gradual legislative
changes - its impact on liquidity risk is expected to be limited, as RBI's balance sheet structure will progressively adjust to the
transition towards a greener, more sustainable economy. However, if the risk materializes within a period of less than three
months, the impact is more significant and is managed under the same assumptions as for market and credit risk
management - focusing on the potential devaluation of securities in the liquidity buffer and reduction of loan inflows due to
higher default rates. Materiality is assessed based on the relative impact of devaluations in the liquidity buffer on the liquidity
surplus, as estimated by the internal stress test model (time-to-wall).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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· Operational risk
In transitional environments, corporates and banks may face growing legal and regulatory compliance risks, along with
litigation and liability costs linked to climate-sensitive investments. Climate-related lawsuits may hold them accountable for
past environmental practices and shape their future actions. The impact of this transmission channel is evaluated using the
existing operational risk framework, which combines historical loss data with forward-looking risk assessments and scenario
analysis data to estimate the risk exposure.
Physical risk
Physical risk drivers refer to changes in weather and climate, which are anticipated to intensify over time if efforts to transition
to a sustainable, net-zero economy are unsuccessful. Physical risks are categorized into acute risks, stemming from extreme
weather events, and chronic risks, linked to gradual climate changes.
· Acute physical risks typically include floods, wildfires, hurricanes and typhoons.
· Chronic physical risks encompass rising sea levels, water stress and heat stress
The economic impact of physical risks varies by geographical location, as regions have different climate patterns and
development levels. Thus, all hazards are evaluated through location-specific risk transmission channels over short, medium,
and long-term periods, using a physical risk map that details hazard-specific vulnerabilities and impacts for each location.
· Credit risk
Physical risk drivers can significantly impact banks' credit risk by compromising the physical capital of counterparties, such as
housing, inventory and infrastructure. Damage to these assets results in diminished asset value and counterparty wealth while
also impairing income streams from affected properties and facilities. Both acute events and chronic conditions contribute to
such a potential risk impact. The materiality of these risks is evaluated through the mapping of portfolio exposure to a
comprehensive physical risk map under various climate scenarios. Similar to transition risk, the overall materiality is assessed
via the climate stress test (see Chapter Climate stress testing) by measuring the increase in impairments in the hot-house
world scenario.
· Market risk
Sudden, severe physical risks can trigger ripple effects across regions and sectors through interconnected socioeconomic and
financial systems. Climate change-induced physical risk events can trigger market price fluctuations and increased volatility, as
more frequent and intense extreme weather events lead to loss of assets, production disruption and declines in profitability
and creditworthiness. These effects may result in declining share prices and widening credit spreads. Moreover, uncertainty
regarding the timing, intensity and location of such events can increase the volatility in these risk factors and, in some cases,
FX rates, thereby reducing the value of traded financial instruments. This transmission channel is assessed by mapping market
risk exposure to a physical risk map across different transition scenarios while considering historical losses and impact on GDP.
· Liquidity risk
Similar to transition risk, if a physical risk event unfolds gradually or lacks an immediate impact, its effect on liquidity risk is
expected to be limited. However, in the case of acute climate-related physical risk events, several potential consequences may
arise:
· Devaluation of securities in the liquidity buffer, consistent with market risk assessments.
· Reduced loan inflows due to increased default and rollover rates, coupled with higher drawdowns on credit lines.
· Customer-driven outflows from deposits and current accounts, as both corporate and retail customers may use
available funds or newly drawn loans to finance recovery efforts and cover damages caused by such events.
The last effect, however, is more complex and not straightforward. For banks with a significant market share and diversified
customer base, outflows from affected customers may be partially offset by inflows from other customers (e.g. retail
customers with damaged homes purchasing construction materials from the corporate customer). Moreover, the impact may
be temporary, as insurance payouts can quickly replenish deposits or current accounts when these are held within the same
customer's portfolio. The materiality of this transmission channel is assessed by evaluating its impact on the liquidity buffer
using the same shock methodology applied in the market risk.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
68 Group management report
· Operational risk
Physical hazards can pose direct operational risks to banks, particularly when disruptions in transportation and
telecommunications infrastructure impair operational capacity. Beyond analyzing historical loss events and risk assessment
results, the impact of this transmission channel was assessed by integrating physical risk drivers into dedicated operational
risk scenarios and by performing a stress test. The applied scenarios quantify business continuity costs and assume that
physical risks may lead to events such as critical site unavailability and IT disruptions. The exposure of the primary head office
and data centers to the specified climate and environmental risk drivers are evaluated by an external data provider.
Results of climate-related risk assessment
In the 2025 materiality assessment, RBI identified for the core group (excluding Russian subsidiaries) moderate materiality of
medium- to long-term transition and physical credit risks. For the medium-term transitional risk and for medium- to long-term
physical risk this is a change from the assessment (low) in 2024. The effect on all other risk types and scenario combinations
was assessed as low for both transition and physical risk. In 2024 long-term transition risk for operational risk was assessed as
moderate. The table below always shows the more conservative assessment, depending on whether the impact on the CET1
ratio or internal capital (IC) utilization is higher.
The impact thresholds of the materiality assessment for credit, market and operational risk are set at two per cent of CET1 or
internal capital (moderate). For liquidity risk, the thresholds are set to five per cent (moderate) . The higher threshold for a
moderate assessment in the liquidity risk is explained by the fact that liquidity risk metrics are highly volatile. Additionally, five
per cent is considered as a reference to ILAAP (Internal Liquidity Adequacy Assessment Process) universe where the thresholds
serve for the assessment of currency materiality.

|  | Climate and environmental materiality assessment
|  | Short term | Medium term | Long term
Credit risk | Transition risk | Low | Moderate | Moderate
Physical risk | Low | Moderate | Moderate
Market risk | Transition risk | Low | Low | Low
Physical risk | Low | Low | Low
Operational risk incl. reputational risk | Transition risk | Low | Low | Low
Physical risk | Low | Low | Low
Liquidity risk | Transition risk | Low | Low | Low
Physical risk | Low | Low | Low

To further reflect the risk related to income dependency (in parallel to the impact on risk parameters), RBI also extended the
ICAAP risk assessment with risk indicators related to income from industries with large contributions to climate change. Initial
results show the contribution to RBI income from relevant industrie s as material (above ten per cent). However, the extent to
which the customers already have a transition plan was not considered in this assessment.
To mitigate the risk from income dependency, the following initiatives in particular are relevant:
· Dialog with customers on existing or planned transition plans is a high priority for RBI. Relevant KPIs (key
performance indicators) were incorporated into the data collection of sustainability reports from corporate
customers.
· Group-wide limits for financed emissions and alignment of transition targets (distance to net zero emission 2050
scenario) have been established.
· Reduction of emission intensity is essential to tracking the progress in greenifying RBI’s business. This is already
covered by indicators in the risk assessment.
Further information on financed emissions can be found in chapter E1-6: Gross GHG emissions of categories Scope 1, 2, and 3 as
well as total GHG emissions.
The assessment impacts the internal capital adequacy assessment process by determining how much additional internal
capital RBI needs to hold and also informs the ESG business strategy.
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Materiality assessment of social risks
In addition to the outlined materiality assessment for climate and environmental risk (see Chapter Assessment of the
materiality of climate and environment-related risk), the overall ESG risk assessment also covers social risks relating to the
workforce, human rights concerns and other social issues.
Social risk is primarily assessed by the S score (as part of the ESG score), and a monitoring of exposures with weak S scores is
conducted for the corporate, sovereign and financial institution (FI) portfolios. The S score is generally generated during the
credit rating process in lending, but ad-hoc reviews can be triggered by adverse events. Moreover, the social risk transmission
channels are further assessed in a special stress test analysis over a short time horizon.
Overall, social risks in the credit portfolio are classified as low risk in the short term. Furthermore, given that social risk factors—
including migration, demographic trends, changes in the labor force and technological advancements—cause gradual and
systematic changes rather than rapid shocks, therefore, making it feasible to gradually adapt to these changes, they are
currently considered to not be material drivers of liquidity, market and operational risk. Regarding transmission of social risks
to the credit risk portfolio over the long term, RBI is closely following market and regulatory best practices to further develop
scenario analysis going forward.
The development of social risks (as measured via the S score) is regularly reported to the Group Risk Comm ittee.
Biodiversity and ecosystems
In 2025 the main measurement and awareness process was related to estimation of biodiversity/ecosystem services
dependencies (risks). The approach was based on Partnership for Biodiversity Accounting Financials (PBAF) methodology with
usage of ENCORE (Exploring Natural Capital Opportunities, Risks and Exposure) tool. As a result a heat map was constructed for
the industry-dependency pairs in order to understand the degree of dependencies for various ecosystem services for RBI
portfolio. Dependencies were prioritized based on a heat map linking impact taken from ecosystem services (high-to-low
scale), and the level of RBI exposure at industry level.
· Water (availability and quality)
· Floods/storms
· Landslides/mass stabilization
· Climate regulation/change
For these 4 categories of ecosystem services , a materiality assessment was run for the key risk categories (credit, operational,
liquidity, market and reputational risks), leveraging the already existing internal physical risk assessment.
A similar evaluation started in 2025 and will be completed in 2026, targeting measurement, awareness and materiality
assessment of the RBI portfolio footprint (impact) on biodiversity and ecosystem services. This evaluation, PBAF based and
mapped against EXIOBASE (i.e. a detailed multi‑regional environmentally extended input–output database linking global
economic transactions to environmental and resource flows), will include more granular assessment involving geolocation data
for the portfolio.
Thus a double materiality assessment of ecosystem service dependencies and RBI’s footprint will be finalized and a roadmap
of actions for positive biodiversity impact and restraining biodiversity loss will be defined. These steps are in line with the work
that RBI is undertaking as a case study partner in the CircHive project (EU-led project that helps corporates and the public
sector to recognize, measure and report on natural capital and biodiversity and then take appropriate action).
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IRO-2: Disclosure requirements in ESRS covered by RBI’s consolidated non-financial
statement

Sector-agnostic standards
Disclosure requirements | Page reference | Omissions/explanations
ESRS 2 General disclosures
BP-1: General basis for preparation of consolidated non-financial statement | 35 |
BP-2: Disclosures in relation to specific circumstances | 35 |
GOV-1: The role of the administrative, management and supervisory bodies | 37 |
GOV-2: Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies | 44 |
GOV-3: Integration of sustainability-related performance in incentive schemes | 45 |
GOV-4: Statement on due diligence | 48 |
GOV-5: Risk management and internal controls over sustainability reporting | 49 |
SBM-1: Strategy, business model and value chain | 50 |
SBM-2: Interests and views of stakeholders | 54 |
SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 |
IRO-1: Description of the processes to identify and assess material impacts, risks and opportunities | 60 |
IRO-2: Disclosure requirements in ESRS covered by the undertaking’s consolidated non-financial statement | — |
E1 Climate change
GOV-3: Integration of sustainability-related performance in incentive schemes | 45 |
E1-1: Transition plan for climate change mitigation | 252 |
SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 and 253 |
ESRS 2 IRO-1: Description of the processes to identify and assess material climate-related impacts, risks and opportunities | 60 |
E1-2: Policies related to climate change mitigation and adaptation | 255 |
E1-3: Actions and resources in relation to climate change policies | 260 |
E1-4: Targets related to climate change mitigation and adaptation | 266 |
E1-5: Energy consumption and mix | 269 |
E1-6: Gross Scopes 1, 2, 3 and total GHG emissions | 270 |
E1-7: GHG removals and GHG mitigation projects financed through carbon credits | — | Not material, hence not disclosed.
E1-8: Internal carbon pricing | — | Not material, hence not disclosed.
E1-9: Anticipated financial effects from material physical and transition risks and potential climate- related opportunities | — | Phase-in
E4 Biodiversity and ecosystem
E4-1: Transition plan and consideration of biodiversity and ecosystems in strategy and business model | — | No targets set in 2025. Depending on the outcome of the footprint calculations, targets may be set in 2026.
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 |
ESRS 2 IRO-1: Description of processes to identify and assess material biodiversity and ecosystem-related impacts, risks and opportunities | 60 |
E4-2: Policies related to biodiversity and ecosystems | 277 |
E4-3: Actions and resources related to biodiversity and ecosystems | 278 |
E4-4: Targets related to biodiversity and ecosystems | 279 | No targets set in 2025. Depending on the outcome of the footprint calculations, targets may be set in 2026.
E4-5: Impact metrics related to biodiversity and ecosystems change | 279 | No targets set in 2025. Depending on the outcome of the footprint calculations, targets may be set in 2026.
E4-6: Anticipated financial effects from biodiversity and ecosystem-related risks and opportunities | — | Phase-in
E5 Resource use and circular economy
ESRS 2 IRO-1: Description of the processes to identify and assess material resource use and circular economy-related impacts, risks and opportunities | 60 |
E5-1: Policies related to resource use and circular economy | 279 |
E5-2: Actions and resources related to resource use and circular economy | 280 |
E5-3: Targets related to resource use and circular economy | 280 |
E5-4: Resource inflows | 281 |
E5-5: Resource outflows | 281 |
E5-6: Anticipated financial effects from resource use and circular economy-related impacts, risks and opportunities | — | Phase-in

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Group management report 71

Sector-agnostic standards
Disclosure requirements | Page reference | Omissions/explanations
S1 Own workforce
ESRS 2 SBM-2: Interests and views of stakeholders | 54 |
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 and 282 |
S1-1: Policies related to own workforce | 283 |
S1-2: Processes for engaging with own workers and workers’ representatives about impacts | 290 |
S1-3: Processes to remediate negative impacts and channels for own workers to raise concerns | 291 |
S1-4: Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions | 292 |
S1-5: Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities | 298 |
S1-6: Characteristics of the undertaking’s employees | 298 |
S1-7: Characteristics of non-employee workers in the undertaking’s own workforce | 299 |
S1-8: Collective bargaining coverage and social dialog | 300 |
S1-9: Diversity metrics | 300 |
S1-10: Adequate wages | 300 |
S1-11: Social protection | 300 |
S1-12: Persons with disabilities | 301 |
S1-13: Training and skills development metrics | 301 |
S1-14: Health and safety metrics | 301 |
S1-15: Work-life balance metrics | — | Phase-in
S1-16: Compensation metrics (pay gap and total compensation) | 301 |
S1-17: Incidents, complaints and severe human rights impacts | 302 |
S2 Workers in the value chain
ESRS 2 SBM-2: Interests and views of stakeholders | 54 |
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 |
S2-1: Policies related to value chain workers | 303 |
S2-2: Processes for engaging with value chain workers about impacts | 305 |
S2-3: Processes to remediate negative impacts and channels for value chain workers to raise concerns | 305 |
S2-4: Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions | 306 |
S2-5: Targets related to managing material negative impacts, advancing positive impacts and managing material risks and opportunities | 309 |
S3 Affected communities
ESRS 2 SBM-2: Interests and views of stakeholders | 54 |
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 and 309 |
S3-1: Policies related to affected communities | 310 |
S3-2: Processes for engaging with affected communities about impacts | 315 |
S3-3: Processes to remediate negative impacts and channels for affected communities to raise concerns | 315 |
S3-4: Taking action on material impacts on affected communities, and approaches to managing material risks and pursuing material opportunities related to affected communities, and effectiveness of those actions | 315 |
S3-5: Targets related to managing material negative impacts, advancing positive impacts and managing material risks and opportunities | 318 |
S4 Consumers and end-users
ESRS 2 SBM-2: Interests and views of stakeholders | 54 |
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model | 55 and 320 |
S4-1: Policies related to consumers and end-users | 320 |
S4-2: Processes for engaging with consumers and end-users about impacts | 325 |
S4-3: Processes to remediate negative impacts and channels for consumers and end-users to raise concerns | 326 |
S4-4: Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actions | 327 |
S4-5: Targets related to managing material negative impacts, advancing positive impacts and managing material risks and opportunities | 331 |

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Sector-agnostic standards
Disclosure requirements | Page reference | Omissions/explanations
G1 Business conduct
ESRS 2 GOV-1: The role of the administrative, supervisory and management bodies | 37 |
ESRS 2 IRO-1: Description of the processes to identify and assess material impacts, risks and opportunities | 60 |
G1-1: Corporate culture and business conduct policies | 333 and 335 |
G1-3: Prevention and detection of corruption and bribery | 336 |
G1-4: Confirmed incidents of corruption or bribery | 338 |
Anti-money laundering and countering the financing of terrorism | 338 | Entity-specific topic
Tax compliance | 339 | Entity-specific topi c
G1-5: Political influence and lobbying activities | 340 |
G1-2: Management of relationships with suppliers | 341 |
G1-6: Payment practices | 342 |

An overall threshold of 0.66 was set for the impact materiality and financial materiality (risks and opportunities), derived from
assessments of various criteria. If the impact materiality and/or financial materiality of an ESRS topic exceeded this threshold,
it was considered material for RBI and was included in the consolidated non-financial statement for 2025.
List of data points in cross-cutting and topical standards that derive from other EU
legislation

Disclosure requirement and related data point | Sustainable finance disclosure regulation | Pillar 3 | Benchmark regulation | EU climate law | Reference
ESRS 2 GOV-1 Board's gender diversity § 21(d) | Indicator number 13 Table #1 of Annex 1 |  | Commission Delegated Regulation (EU) 2020/1816, Annex II |  | GOV-1: The role of the administrative, management and supervisory bodies
ESRS 2 GOV-1 Percentage of board members who are independent § 21(e) |  |  | Commission Delegated Regulation (EU) 2020/1816, Annex II |  | GOV-1: The role of the administrative, management and supervisory bodies
ESRS 2 GOV-4 Statement on due diligence § 30 | Indicator number 10 Table #3 of Annex 1 |  |  |  | GOV-4: Statement on due diligence
ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities § 40(d) i | Indicator number 4 Table #1 of Annex 1 | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/245328 Table 1: Qualitative information on environmental risk and Table 2: Qualitative information on social risk | Commission Delegated Regulation (EU) 2020/1816, Annex II |  | BP-1: General basis for preparation of the consolidated non-financial statement Governance SBM-1: Strategy, business model and value chain
ESRS 2 SBM-1 Involvement in activities related to chemical production § 40(d) ii | Indicator number 9 Table #2 of Annex 1 |  | Commission Delegated Regulation (EU) 2020/1816, Annex II |  | Not applicable
ESRS 2 SBM-1 Involvement in activities related to controversial weapons § 40(d) iii | Indicator number 14 Table #1 of Annex 1 |  | Commission Delegated Regulation (EU) 2020/1818 Article 12(1), Delegated Regulation (EU) 2020/1816, Annex II |  | Not applicable
ESRS 2 SBM-1 Involvement in activities related to cultivation and production of tobacco § 4(d) iv |  |  | Commission Delegated Regulation (EU) 2020/1818 Article 12(1), Delegated Regulation (EU) 2020/1816, Annex II |  | Not applicable
ESRS E1-1 Transition plan to reach climate neutrality by 2050 § 14 |  |  |  | Regulation (EU) 2021/1119, Article 2(1) | E1-1: Transition plan for climate change mitigation
ESRS E1-1 Undertakings excluded from Paris-aligned benchmarks § 16(g) |  | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1: Banking book - climate change transition risk: credit quality of exposures by sector, emissions and residual maturity | Commission Delegated Regulation (EU) 2020/18 18 Article12.1 (d) to (g), and Article 12.2 |  | RBI Pillar 3 report

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Disclosure requirement and related data point | Sustainable finance disclosure regulation | Pillar 3 | Benchmark regulation | EU climate law | Reference
ESRS E1-4 GHG emission reduction targets § 34 | Indicator number 4 Table #2 of Annex 1 | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book – climate change transition risk: alignment metrics | Commission Delegated Regulation (EU) 2020/1818 Article 6 |  | RBI Pillar 3 report
ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors) § 38 | Indicator number 5 Table #1 and Indicator number 5 Table #2 of Annex 1 |  |  |  | Not applicable
ESRS E1-5 Energy consumption and mix § 37 | Indicator number 5 Table #1 of Annex 1 |  |  |  | E1-5: Energy consumption and mix
ESRS E1-5 Energy intensity associated with activities in high climate impact sectors § 40 to 43 | Indicator number 6 Table #1 of Annex 1 |  |  |  | Not applicable
ESRS E1-6 Gross Scope 1, 2, 3 and total GHG emissions § 44 | Indicators number 1 and 2 Table #1 of Annex 1 | Article 449a; Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1: Banking book – climate change transition risk: credit quality of exposures by sector, emissions and residual maturity | Commission Delegated Regulation (EU) 2020/1818, Article 5(1), 6 and 8(1) |  | E1-6: Gross scopes 1, 2, 3 and total GHG emissions
ESRS E1-6 Gross GHG emissions intensity § 53 to 55 | Indicator number 3 Table #1 of Annex 1 | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book – climate change transition risk: alignment metrics | Commission Delegated Regulation (EU) 2020/1818, Article 8(1) |  | E1-6: Gross Scopes 1, 2, 3 and total GHG emissions
ESRS E1-7 GHG removals and carbon credits § 56 |  |  |  | Regulation (EU) 2021/1119, Article 2(1) | Not applicable
ESRS E1-9 Exposure of the benchmark portfolio to climate-related physical risks § 66 |  |  | Delegated Regulation (EU) 2020/1818, Annex II Delegated Regulation (EU) 2020/1816, Annex II |  | Phase-in
ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk § 66(a) ESRS E1-9 Location of significant assets at material physical risk § 66(c) |  | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 paragraphs 46 and 47; Template 5: Banking book - climate change physical risk: exposures subject to physical risk |  |  | Phase-in
ESRS E1-9 Breakdown of the carrying value of its real estate assets by energy-efficiency classes § 67(c) |  | Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 paragraph 34; Template 2: Banking book - climate change transition risk: loans collateralised by immovable property - energy efficiency of the collateral |  |  | Phase-in
ESRS E1-9 Degree of exposure of the portfolio to climate- related opportunities § 69 |  |  | Delegated Regulation (EU) 2020/1818, Annex II |  | Phase-in

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Disclosure requirement and related data point | Sustainable finance disclosure regulation | Pillar 3 | Benchmark regulation | EU climate law | Reference
ESRS E2-4 Amount of each pollutant listed in Annex II of the E- PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil, § 28 | Indicator number 8 Table #1 of Annex 1 Indicator number 2 Table #2 of Annex 1 Indicator number 1 Table #2 of Annex 1 Indicator number 3 Table #2 of Annex 1 |  |  |  | Not material
ESRS E3-1 Water and marine resources § 9 | Indicator number 7 Table #2 of Annex 1 |  |  |  | Not material
ESRS E3-1 Dedicated policy § 13 | Indicator number 8 Table 2 of Annex 1 |  |  |  | Not material
ESRS E3-1 Sustainable oceans and seas § 14 | Indicator number 12 Table #2 of Annex 1 |  |  |  | Not material
ESRS E3-4 Total water recycled and reused § 28(c) | Indicator number 6.2 Table #2 of Annex 1 |  |  |  | Not material
ESRS E3-4 Total water consumption in m 3 per net revenue on own operations § 29 | Indicator number 6.1 Table #2 of Annex 1 |  |  |  | Not material
ESRS 2- IRO 1 - E4 § 16(a)i | Indicator number 7 Table #1 of Annex 1 |  |  |  | Not material
ESRS 2- IRO 1 - E4 § 16(b) | Indicator number 10 Table #2 of Annex 1 |  |  |  | Not material
ESRS 2- IRO 1 - E4 § 16(c) | Indicator number 14 Table #2 of Annex 1 |  |  |  | Not material
ESRS E4-2 Sustainable land / agriculture practices or policies § 24(b) | Indicator number 11 Table #2 of Annex 1 |  |  |  | Currently there are no policies directly targeting sustainable land / agriculture practices
ESRS E4-2 Sustainable oceans / seas practices or policies § 24(c) | Indicator number 12 Table #2 of Annex 1 |  |  |  | Currently there are no policies directly targeting sustainable oceans / seas practices
ESRS E4-2 Policies to address deforestation § 24(d) | Indicator number 15 Table #2 of Annex 1 |  |  |  | Currently there are no policies directly addressing deforestation.
ESRS E5-5 Non-recycled waste § 37 (d) | Indicator number 13 Table #2 of Annex 1 |  |  |  | Not material sub-topic
ESRS E5-5 Hazardous waste and radioactive waste § 39 | Indicator number 9 Table #1 of Annex 1 |  |  |  | Not material sub-topic
ESRS 2- SBM3 - S1 Risk of incidents of forced labor § 14(f) | Indicator number 13 Table #3 of Annex I |  |  |  | Not material sub-topic
ESRS 2- SBM3 - S1 Risk of incidents of child labor § 14(g) | Indicator number 12 Table #3 of Annex I |  |  |  | Not material sub-topic
ESRS S1-1 Human rights policy commitments § 20 | Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex I |  |  |  | Human rights policy
ESRS S1-1 Due diligence policies on issues addressed by the fundamental International Labour Organization Conventions 1 to 8, § 21 |  |  | Delegated Regulation (EU) 2020/1816, Annex II |  | Human rights policy
ESRS S1-1 Processes and measures for preventing trafficking in human beings § 22 | Indicator number 11 Table #3 of Annex I |  |  |  | Human rights policy
ESRS S1-1 Workplace accident prevention policy or management system § 23 | Indicator number 1 Table #3 of Annex I |  |  |  | Company agreements
ESRS S1-3 Grievance/complaints handling mechanisms § 32 (c) | Indicator number 5 Table #3 of Annex I |  |  |  | S1-3: Processes to remediate negative impacts and channels for own workforce to raise concerns

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Disclosure requirement and related data point | Sustainable finance disclosure regulation | Pillar 3 | Benchmark regulation | EU climate law | Reference
ESRS S1-14 Number of fatalities and number and rate of work- related accidents § 88(b) and (c) | Indicator number 2 Table #3 of Annex I |  | Delegated Regulation (EU) 2020/1816, Annex II |  | S1-14: Health and safety metrics
ESRS S1-14 Number of days lost to injuries, accidents, fatalities or illness § 88(e) | Indicator number 3 Table #3 of Annex I |  |  |  | S1-14: Health and safety metrics
ESRS S1-16 Unadjusted gender pay gap § 97(a) | Indicator number 12 Table #1 of Annex I |  | Delegated Regulation (EU) 2020/1816, Annex II |  | S1-16: Remuneration metrics (pay gap and total remuneration)
ESRS S1-16 Excessive CEO pay ratio § 97(b) | Indicator number 8 Table #3 of Annex I |  |  |  | S1-16: Remuneration metrics (pay gap and total remuneration)
ESRS S1-17 Incidents of discrimination § 103(a) | Indicator number 7 Table #3 of Annex I |  |  |  | S1-17: Incidents, complaints and severe human rights impacts
ESRS S1-17 Non-respect of UNGPs on Business and Human Rights and OECD guidelines § 104(a) | Indicator number 10 Table #1 and Indicator number 14 Table #3 of Annex I |  | Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818 Art 12 (1) |  | S1-17: Incidents, complaints and severe human rights impacts
ESRS 2- SBM3 – S2 Significant risk of child labor or forced labor in the value chain § 11(b) | Indicators number 12 and number 13 Table #3 of Annex I |  |  |  | Not material sub-topic
ESRS S2-1 Human rights policy commitments § 17 | Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex 1 |  |  |  | S2-1: Policies related to value chain workers
ESRS S2-1 Policies related to value chain workers § 18 | Indicators number 11 and number 4 Table #3 of Annex 1 |  |  |  | S2-1: Policies related to value chain workers
ESRS S2-1 Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines § 19 | Indicator number 10 Table #1 of Annex 1 |  | Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) |  | Human rights due diligence compliance processes
ESRS S2-1 Due diligence policies on issues addressed by the fundamental International Labour Organization Conventions 1 to 8, § 19 |  |  | Delegated Regulation (EU) 2020/1816, Annex II |  | Human rights due diligence compliance processes
ESRS S2-4 Human rights issues and incidents connected to its upstream and downstream value chain § 36 | Indicator number 14 Table #3 of Annex 1 |  |  |  | S2-4: Taking action on material impacts on value chain workers and approaches to managing material risks and pursuing material opportunities relating to value chain workers, and effectiveness of these actions
ESRS S3-1 Human rights policy commitments § 16 | Indicator number 9 Table #3 of Annex 1 and Indicator number 11 Table #1 of Annex 1 |  |  |  | S3-1: Policies related to affected communities
ESRS S3-1 Non-respect of UNGPs on Business and Human Rights, ILO principles and OECD guidelines § 17 | Indicator number 10 Table #1 Annex 1 |  | Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) |  | S3-1: Policies related to affected communities
ESRS S3-4 Human rights issues and incidents § 36 | Indicator number 14 Table #3 of Annex 1 |  |  |  | S3-4: Taking action on material impacts on affected communities, approaches to managing material risks and pursuing material opportunities relating to affected communities, and the effectiveness of these actions
ESRS S4-1 Policies related to consumers and end- users § 16 | Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex 1 |  |  |  | S4-1 Policies related to information-related impacts for consumers and end-users

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Disclosure requirement and related data point | Sustainable finance disclosure regulation | Pillar 3 | Benchmark regulation | EU climate law | Reference
ESRS S4-1 Non-respect of UNGPs on Business and Human Rights and OECD guidelines § 17 | Indicator number 10 Table #1 of Annex 1 |  | Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) |  | S4-1: Policies relating to consumers and end-users
ESRS S4-4 Human rights issues and incidents § 35 | Indicator number 14 Table #3 of Annex 1 |  |  |  | S4-4: Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and the effectiveness of these actions and approaches
ESRS G1-1 United Nations Convention against Corruption § 10(b) | Indicator number 15 Table #3 of Annex 1 |  |  |  | Not applicable
ESRS G1-1 Protection of whistle blowers § 10(d) | Indicator number 6 Table #3 of Annex 1 |  |  |  | Not applicable
ESRS G1-4 Fines for violation of anti- corruption and anti-bribery laws § 24(a) | Indicator number 17 Table #3 of Annex 1 |  | Delegated Regulation (EU) 2020/1816, Annex II) |  | G1-4: Incidents of corruption or bribery
ESRS G1-4 Standards of anti- corruption and anti- bribery § 24(b) | Indicator number 16 Table #3 of Annex 1 |  |  |  | G1-4: Incidents of corruption or bribery

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Environmental information
Regulatory disclosure requirement in accordance with Article 8 of the EU
Taxonomy Regulation
Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework
to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (EU Taxonomy Regulation) sets out an EU-wide
framework that allows investors and undertakings to determine whether certain economic activities are environmentally
sustainable. Article 8 of the EU Taxonomy Regulation requires undertakings covered by the Directive (EU) 2022/2464 of the
European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC,
Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting (Corporate Sustainability
Reporting Directive (CSRD) to publish information on how and to what extent their economic activities qualify as
environmentally sustainable under the EU Taxonomy Regulation. As a main KPI, the Green Asset Ratio (GAR) serves as a
benchmark and reporting metric for taxonomy alignment. It describes the share of RBI’s green taxonomy-aligned business
relative to the covered assets.
The EU Taxonomy and compliance with the EU Taxonomy Regulation are fully integrated into RBI’s business strategy. They are
embedded in the annual budgeting process, with data collected individually and as part of the Sustainable Finance ambition
level. The figures are regularly reviewed and reported to the Board. In the product design process, RBI systematically integrates
sustainability criteria to develop financial products, including those aligned with the EU Taxonomy. Trainings on the EU
Taxonomy and related compliance requirements are conducted regularly for employees to ensure consistent understanding
and implementation. For client engagement, RBI emphasizes the relevance of the EU Taxonomy to customers and actively
incorporates taxonomy criteria into its product offerings. Additionally, customers are provided with ESG advisory services,
including tailored support for EU Taxonomy-aligned projects.
On 4 July 2025, the European Commission published the Delegated Act amending the Taxonomy Disclosures, Climate and
Environmental Delegated Acts (Omnibus Delegated Act) including a set of measures to simplify the EU Taxonomy and reduce
the administrative burden on companies. These amendments include a simplification of the reporting templates, and the
specific reporting templates relating to exposures to fossil gas and nuclear activities are deleted, while certain elements of
those templates are transposed in the general reporting templates. In addition, exposures to undertakings not subject to the
CSRD and therefore not subject to reporting requirements under Article 8 of the EU Taxonomy Regulation, as well as
derivatives, cash and cash equivalents, on demand bank loans, goodwill and commodities are excluded from the denominator
of the GAR, thereby addressing inconsistencies between numerator and denominator and resulting in a higher GAR.
While these simplifications improve the application of the EU Taxonomy and the reporting under Article 8 of the EU Taxonomy
Regulation, the Omnibus Delegated Act was subject to a scrutiny period with a deadline on 5 January 2026 and a 20-day period
until its entry into force once published in the Official Journal of the EU.
The Omnibus Delegated Act was published on 8 January 2026 in the Official Journal and applies from 1 January 2026. Due to
uncertainties and in accordance with Article 4 of the omnibus act, RBI prepared the EU Taxonomy disclosure in accordance with
the version of Delegated Regulation (EU) 2021/2178 (Delegated Regulation on disclosure requirements) applicable on 31
December 2025. This regulation supplements Regulation (EU) 2020/852 and specifies what information on environmentally
sustainable economic activities must be disclosed by companies falling under Articles 19a or 29a of Directive 2013/34/EU and
how compliance is ensured. In accordance with the Draft Commission Notice on the interpretation and implementation of
certain legal provisions of the Disclosures Delegated Act under Article 8 of the EU Taxonomy Regulation, as amended by the
Omnibus Delegated Act, on the reporting of taxonomy-eligible and taxonomy-aligned economic activities and assets (fourth
notice) published on 17 December 2025, RBI does not disclose the Fees and Commission KPI and the Trading Book KPI which are
postponed by the Omnibus Delegated Act until 1 January 2028.
I. Mandatory disclosure
RBI disclosed all key performance indicators (KPIs) in accordance with the Disclosures Delegated Act. This regulation
supplements the EU Taxonomy Regulation by specifying the content and presentation of information to be disclosed by
undertakings subject to the CSRD concerning environmentally sustainable economic activities, and specifying the methodology
to comply with that disclosure obligation.
An overview of the relevant key figures and templates for 2025 that are reported in accordance with Article 8 of the EU
Taxonomy Regulation and the supplementary Disclosure Delegated Act is available in the chapter Overview of relevant KPIs
and templates. The figures for the main KPI GAR stock and the additional KPI GAR flow are shown below.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
78 Group management report
Green Asset Ratio stock and ﬂow

|  | Turnover GAR KPI | CapEx GAR KPI
|  | 31/12/2025 | 31/12/2024 | 31/12/2025 | 31/12/2024
Main KPI | GAR stock | 0.63% | 0.39% | 0.91% | 0.81%
Additional KPI | GAR flow | 0.50% | 0.31% | 0.72% | 0.63%

II. Details of templates and covered exposures as well as information on data sources
and current data limitations
All EU Taxonomy Regulation KPIs for 2025 were determined in accordance with the Disclosures Delegated Act, both on
turnover-based as well as capital expenditure-based (CapEx) information disclosed by RBI’s customers.
RBI’s approach for determining taxonomy-eligible and taxonomy-aligned economic activities, assets
and economic sectors (template 0-2)
RBI’s banking book was used to determine its taxonomy-eligible and taxonomy-aligned economic activities. Total covered
assets were identified as per the requirements of the Disclosures Delegated Act. Exposures to central banks, supranational
institutions, the central government and assets held for trading were excluded. The remaining covered assets form the
denominator in the formula for calculating the GAR.
All taxonomy-eligible and taxonomy-aligned economic activities were included in the numerator for calculating the GAR. They
were defined as covered assets that additionally belong to one of the following categories:
· Taxonomy-eligible and taxonomy-aligned economic activities of CSRD undertakings
In accordance with Article 8 of the EU Taxonomy Regulation, the disclosure was based on the obligation to publish
non-financial information pursuant to the CSRD.
· Taxonomy-eligible and taxonomy-aligned economic activities in retail banking
· Taxonomy-eligible and taxonomy-aligned economic activities related to local and regional government financing
· Real estate collateral obtained by taking possession in exchange for the cancellation of debt and held for sale.
In addition, derivatives (not held for trading), on-demand interbank loans, cash and cash-related assets and other assets (e.g.
goodwill, commodities) were also excluded from the numerator, but were included in the calculation of the denominator for the
GAR. Furthermore, no exposures to non-EU or to small and medium-sized enterprises were taken into consideration.
If the purpose was known at transaction level and was consistent with the defined activities of the EU Taxonomy Regulation or
the supplementary delegated regulations, RBI took into account exposures to the extent that taxonomy eligibility and
taxonomy alignment could be demonstrated for the underlying transaction. In cases where a transaction qualified for more
than one environmental objective, RBI assigned the transaction, or an appropriate portion of it, to the most relevant objective
to prevent double counting. The decision on which environmental goal is considered the most relevant is based on expert
opinion during the assessment and should reflect the purpose of the transaction.
For transactions conducted for general purposes RBI took into account the relevant taxonomy KPIs for taxonomy eligibility and
taxonomy alignment that were provided or disclosed by the counterparties. The relevant taxonomy KPIs for general-purpose
transactions, including investment (CapEx) and turnover KPIs for non-financial counterparties, as well as taxonomy-specific
KPIs for financial counterparties, were gathered through an internal data collection. While for 2024, financial undertakings
reported taxonomy alignment only for the first two environmental objectives, for the 2025 financial year, taxonomy alignment
was reported for all six environmental objectives. Structured data availability remains limited and RBI is consistently working to
improve the data quality.
The allocation of NACE codes, as disclosed in template 2 for the GAR sector information, is based on the main business of the
counterparty, which is identified via information from local public registries or based on data from an external data provider.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 79

Derivation of taxonomy-eligible and taxonomy-aligned economic activities |
100.0 % |  | 36 % Assets excluded from GAR calculation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
80.0 % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 64 % Covered assets |  | 29 % |  |  |  |  |  |  |  |  |  |  |  |  |
60.0 % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
40.0 % |  |  |  |  |  | 16 % |  |  |  |  |  |  |  |  |  |
20.0 % |  |  |  |  |  |  |  |  | 5 % |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | 15 % |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 0.91 % |
|  | Total assets |  | Non-CSRD undertakings |  | Other assets that cannot be considered in numerator (e.g. derivatives) |  | Not eligible or not assessed |  |  | Eligible |  |  | Aligned |

This chart refers to the disclosure of the taxonomy-eligible and taxonomy-aligned economic activities using CapEx-based indicators. The percentage figures in the chart
above refer to the share of the respective position in relation to RBI’s total assets. For the calculation of the taxonomy-aligned value (yellow), i.e. the GAR, the number in
the qualitative chart refers to covered assets (denominator), not total assets.
Exposures to taxonomy-aligned economic activities/covered assets (GAR (stock)) (template 3)
RBI’s assets with exposures to taxonomy-aligned economic activities at year-end 2025 amounted to € 1,228 million (previous
year: €1,072 million) and are used in the calculation of the GAR (CapEx). In accordance with the instructions set out in Annex V of
the Disclosures Delegated Act, the exposures to be included in the numerator encompass banking book loans and advances to
CSRD-relevant customers, households (limited to loans collateralized by residential real estate) and loans and advances to local
governments.
All retail exposures relevant to the EU Taxonomy were analyzed under the relevant economic activities and environmental
objectives in accordance with the Disclosures Delegated Act and included in the CapEx as well as in the turnover GAR. With
regard to compliance with minimum social safeguards (MS), the interpretation of the Platform on Sustainable Finance as set
out in the Final Report on Minimum Safeguards (available at https://finance.ec.europa.eu/system/files/2022-10/221011-
sustainable-finance-platform-finance-report-minimum-safeguards_en.pdf) was followed, which does not cover the
application of the MS criteria for retail exposures. The total amount of taxonomy-aligned economic activities in the retail
sector amounted to € 308 million (previous year: € 41 million ) out of a total of € 1,228 million (previous year: € 1,072 million ). The
GAR (CapEx) amounted to 0.91 per cent (previous year: 0.81 per cent), of which 0.23 percentage points (previous year: 0.03
percentage points) corresponded to the contribution of taxonomy-aligned economic activities in the retail sector.
RBI has analyzed retail exposures in detail, particularly house purchase loans. Besides identifying thresholds for Nearly Zero
Energy Buildings (NZEB), analyses identifying the top 15 per cent of the national building stock in terms of Primary Energy
Demand for economic activity 7.7 (acquisition and ownership of buildings) were included in the calculation, providing these
analyses were based on transparent real data. As in the previous disclosures, it was not possible to collect the necessary
information from retail customers regarding building renovation loans as well as car loans given the detailed and high
demands. Such financing was therefore generally recognized as taxonomy non-aligned.
The physical risk assessment for the retail segment was performed with the help of an external provider. A physical risk
assessment, including a vulnerability analysis, was conducted for the relevant financed properties both within and outside the
EU in accordance with Appendix A of Annex I of Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing
Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for
determining the conditions under which an economic activity qualifies as contributing substantially to climate change
mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to
any of the other environmental objectives. The physical risk assessment considered acute and chronic risks for the relevant
hazards as set out in that Appendix and used an Intergovernmental Panel on Climate Change (IPCC) RCP 8.5 scenario. The
assessment was not passed if the seriousness of a threat was considered very high and no corresponding risk mitigation
measures were taken. While for the 2024 financial year, a timeframe for the physical risk assessment of 75 years was
considered, for the 2025 financial year, this timeframe was reduced to 50 years, in accordance with the appropriate lifespan
for long-term indefinite activities as outlined in the Commission Notice on the interpretation and implementation of certain
legal provisions of the EU Taxonomy Environmental Delegated Act, the EU Taxonomy Climate Delegated Act and the EU
Taxonomy Disclosures Delegated Act from 5 March 2025.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
80 Group management report
By referencing internally available data, RBI’s CSRD customer base was determined according to the following criteria:
· The country in which the counterparty is registered must be an EU member state.
· The business partner’s total assets (on a consolidated basis) must be equal to or greater than € 25 million or its total
revenue (turnover) must be equal to or greater than € 50 million. For insurance and reinsurance undertakings, the
gross premiums written were used instead of revenue, while the gross operating result was used for the other
financial institutions.
· The customer was either a capital market-oriented company, a credit institution or an insurance undertaking.
· The customer had more than 500 employees on average (on a consolidated basis).
RBI also considered subsidiaries that were fully consolidated under CSRD customers and did not publish/provide Taxonomy KPIs
on a stand-alone basis in a sustainability report.
The disclosure of taxonomy-eligible and taxonomy-aligned exposures must be based on actual information provided by the
financial or non-ﬁnancial undertaking.
Exposures to taxonomy-aligned economic activities/covered assets (GAR (ﬂow)) (template 4)
The GAR KPI ﬂow was calculated in line with the GAR KPI stock. However, unlike the GAR KPI stock, it only took into account
those positions that were newly concluded in the 2025 financial year.
Off-balance sheet exposures to taxonomy-aligned economic activities/covered assets (template 5)
RBI analyzed its off-balance sheet exposure, both with known purposes and general purposes with regard to Taxonomy
eligibility and taxonomy alignment. For the disclosure of off-balance sheet exposures, a distinction was made between
ﬁnancial guarantees and assets under management.
The methodology for calculating the KPI for ﬁnancial guarantees corresponded to the methodology established for loans and
advances, as well as for bonds. However, it was applied to the underlying transaction of the ﬁnancial guarantees. If RBI had no
data on the specific purpose of the underlying transaction, the counterparties‘ KPIs were used. For the earmarked exposures,
the counterparties‘ taxonomy data was collected internally as part of the internal data collection. The KPI for assets under
management was calculated in line with the methodology determined for asset managers. The numerator comprises the
weighted average value of the investments in the taxonomy-aligned economic activities of the enterprises in which
investments were made.
Exposures to taxonomy-eligible and taxonomy-aligned economic activities/covered assets for
nuclear and gas economic activities (templates in accordance with Annex XII of the Disclosures
Delegated Act)
The EU Taxonomy includes six economic activities in the nuclear and gas sector. Companies operating in these sectors that are
subject to taxonomy disclosures are therefore required to publish data on taxonomy eligibility and taxonomy alignment for
their relevant nuclear and gas activities. RBI’s sustainability concept for the nuclear and gas sector is detailed in the ESG
framework (nuclear energy policy and ESG sectoral strategies). KPIs for the nuclear and gas sectors were collected as part of
the internal data collection. For the specific nuclear and gas activities of the relevant counterparties, all revenue-based and
investment-based taxonomy KPIs were included regarding their taxonomy eligibility and taxonomy alignment.
III. Evolution of taxonomy-aligned economic activities over time
For the 2025 financial year, the GAR CapEx stock increased to 0.91% from 0.81% based on the calculation as defined in the
Disclosures Delegated Act as it was applicable on the 31.12.2025. The amendments introduced by the Omnibus Delegated Act
were not considered. Regarding retail mortgage loans to households, taxonomy-alignment increased to € 308 million from € 41
million, in a large part due to the change in methodology regarding the climate risk and vulnerability assessment outlined
above. Taxonomy-aligned exposure towards non-financial undertakings decreased to € 908 million from previously € 1,020
million mainly due to fluctuations in underlying exposures towards these undertakings. For financial undertakings, taxonomy-
alignment remained low at € 12 million.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 81
Overview of relevant KPIs and template
The disclosure templates can be found on the RBI website www.rbinternational.com → Sustainability & ESG → Sustainability
Reports.

Template number | Designation | Brief explanation
0 | Summary of KPIs | Summary of all relevant GAR KPIs
1 | Assets for the calculation of GAR | Summary of all relevant assets used for calculation of GAR
2 | GAR sector information | Summary of exposures in the non-trading book relative to the sectors covered by the Taxonomy (NACE sectors, four breakdown levels)
3 | GAR KPI stock | Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (stock))
4 | GAR KPI flow | Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (flow))
5 | KPI off-balance-sheet exposures | Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (financial guarantees)) Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (assets under management))
6 | KPI on fee and commission income from services other than lending and asset management | Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (fee and commission income)) This indicator will be first reported for the 2027 financial year.
7 | KPI trading book portfolio | Exposures to Taxonomy-eligible and Taxonomy-aligned economic activities/covered assets for all six 1 environmental objectives (turnover and CapEx GAR (trading book portfolio). This indicator will be first reported for the 2027 financial year.
1 Climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
82 Group management report
Template 0 – Summary of KPIs

31.12.2025 |  | Total environmentally sustainable assets | KPI**** | KPI***** | % coverage (over total assets)*** | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2. of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V)
Main KPI | Green asset ratio (GAR) stock | 848,134,392 | 0.63% | 0.91% | 64.44% | 45.11% | 35.56%

31.12.2025 |  | Total environmentally sustainable activities | KPI | KPI | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2. of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V)
Additional KPIs | GAR (flow) | 266,878,487 | 0.50% | 0.72% | 59.64% | 50.24% | 40.36%
| Trading book* |  |  |  |  |  |
| Financial guarantees | 95,835,579 | 0.95% | 2.01% |  |  |
| Assets under management | 0 | 0.00% | 0.00% |  |  |
| Fees and commissions income** |  |  |  |  |  |

31.12.2024 |  | Total environmentally sustainable assets | KPI**** | KPI***** | % coverage (over total assets)*** | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2. of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V)
Main KPI | Green asset ratio (GAR) stock | 522,449,619 | 0.39% | 0.81% | 66.03% | 47.16% | 33.97%

31.12.2024 |  | Total environmentally sustainable activities | KPI | KPI | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2. of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V)
Additional KPIs | GAR (flow) | 159,420,727 | 0.31% | 0.63% | 58.99% | 51.37% | 41.01%
| Trading book* |  |  |  |  |  |
| Financial guarantees | 85,746,472 | 0.93% | 2.10% |  |  |
| Assets under management | 0 | 0.00% | 0.00% |  |  |
| Fees and commissions income** |  |  |  |  |  |

*For credit institutions that do not meet the conditions of Article 94(1) of the CRR or the conditions set out in Article 325a(1) of the CRR
**Fees and commissions income from services other than lending and assets under management
Institutions shall disclose forward-looking information for these KPIs, including information in terms of targets, together with relevant explanations on the methodology applied.
***% of assets covered by the KPI over banks´ total assets
****based on the Turnover KPI of the counterparty
*****based on the CapEx KPI of the counterparty, except for lending activities where Turnover KPI is used for general lending
Note 1: Across the reporting templates: cells shaded in black should not be reported.
Note 2: Fees and Commissions (sheet 6) and Trading Book (sheet 7) KPIs shall only apply as of 2026. SMEs´inclusion in these KPIs will only apply subject to a positive result of an impact assessment.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 83
Disclosure template 1 – assets for the calculation of GAR

1. This template shall include information for loans and advances, debt securities and equity instruments in the banking book, towards financial corporates, non- financial corporates (NFC), including SMEs, households (including residential real estate, house renovation loans and motor vehicle loans only) and local governments/ municipalities (house financing).
2. The following accounting categories of financial assets should be considered: Financial assets at amortised cost, financial assets at fair value through other comprehensive income, investments in subsidiaries, joint ventures and associates, financial assets designated at fair value through profit or loss and non-trading financial assets mandatorily at fair value through profit or loss, and real estate collaterals obtained by credit institutions by taking possession in exchange in of cancellation of debts.
3. Banks with non-EU subsidiary should provide this information separately for exposures towards non-EU counterparties. For non-EU exposures, while there are additional challenges in terms of absence of common disclosure requirements and methodology, as the EU taxonomy and the NFRD apply only at EU level, given the relevance of these exposures for those credit institutions with non-EU subsidiaries, these institutions should disclose a separate GAR for non-EU exposures, on a best effort basis, in the form of estimates and ranges, using proxies, and explaining the assumptions, caveats and limitations.
4. For motor vehicle loans, institutions shall only include those exposures generated after the date of application of the disclosure.

Assets for the calculation of GAR (CapEX)

|  | a | b | c | d | e | f
| 31/12/2025 | Total [gross] carrying amount | Climate Change Mitigation (CCM)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 40,655 | 30,896 | 1,222 | 308 | 100 | 613
2 | Financial undertakings | 3,858 | 160 | 6 | 0 | 0 | 1
3 | Credit institutions | 3,374 | 122 | 5 | 0 | 0 | 1
4 | Loans and advances | 1,532 | 13 | 1 | 0 | 0 | 0
5 | Debt securities, including UoP | 1,822 | 109 | 4 | 0 | 0 | 0
6 | Equity instruments | 20 | 0 | 0 |  | 0 | 0
7 | Other financial corporations | 484 | 38 | 1 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 358 | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 5 | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 1 | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 352 | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 4,686 | 1,843 | 908 | 0 | 100 | 612
21 | Loans and advances | 3,950 | 1,630 | 775 | 0 | 81 | 505
22 | Debt securities, including UoP | 736 | 213 | 133 | 0 | 18 | 108
23 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
24 | Households | 30,053 | 28,870 | 308 | 308 | 0 | 0
25 | of which loans collateralised by residential immovable property | 29,852 | 28,855 | 308 | 308 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 201 | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 2,058 | 23 | 0 | 0 | 0 | 0
29 | Housing financing | 2,036 | 23 | 0 | 0 | 0 | 0
30 | Other local government financing | 22 | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 23 | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 94,950 | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings | 61,813 |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 49,869 |  |  |  |  |
35 | Loans and advances | 45,728 |  |  |  |  |
36 | of which loans collateralised by commercial immovable property | 10,560 |  |  |  |  |
37 | of which building renovation loans | 0 |  |  |  |  |
38 | Debt securities | 2,777 |  |  |  |  |
39 | Equity instruments | 1,363 |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 13,066 |  |  |  |  |
41 | Loans and advances | 12,231 |  |  |  |  |
42 | Debt securities | 753 |  |  |  |  |
43 | Equity instruments | 82 |  |  |  |  |
44 | Derivatives | 1,098 |  |  |  |  |
45 | On demand interbank loans | 10,121 |  |  |  |  |
46 | Cash and cash-related assets | 3,287 |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 18,630 |  |  |  |  |
48 | Total GAR assets | 135,628 | 30,896 | 1,222 | 308 | 100 | 613
49 | Assets not covered for GAR calculation | 74,835 | — | — |  |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
84 Group management report

|  | a | b | c | d | e | f
| 31/12/2025 | Total [gross] carrying amount | Climate Change Mitigation (CCM)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
50 | Central governments and Supranational issuers | 37,230 |  |  |  |  |
51 | Central banks exposure | 30,393 |  |  |  |  |
52 | Trading book | 7,212 |  |  |  |  |
53 | Total assets | 210,463 | 30,896 | 1,222 | 308 | 100 | 613
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |  |
54 | Financial guarantees | 10,039 | 315 | 202 | 0 | 36 | 90
55 | Assets under management | 67,195 | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 85

|  | g | h | i | j
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37 | 6 | 0 | 0
2 | Financial undertakings | 30 | 6 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 30 | 6 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 6 | 0 | 0 | 0
21 | Loans and advances | 6 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 1 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 37 | 6 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 37 | 6 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 2 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
86 Group management report

|  | k | l | m | n
| 31/12/2025 | Water and marine resources (WTR)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 87

|  | o | p | q | r
| 31/12/2025 | Circular economy (CE)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 40 | 0 | 0 | 0
2 | Financial undertakings | 19 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 19 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 21 | 0 | 0 | 0
21 | Loans and advances | 14 | 0 | 0 | 0
22 | Debt securities, including UoP | 7 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 40 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 40 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 3 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
88 Group management report

|  | s | t | u | v
| 31/12/2025 | Pollution (PPC)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 89

|  | w | x | z | aa
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
90 Group management report

|  | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 30,973 | 1,228 | 308 | 100 | 613
2 | Financial undertakings | 209 | 12 | 0 | 0 | 1
3 | Credit institutions | 123 | 5 | 0 | 0 | 1
4 | Loans and advances | 13 | 1 | 0 | 0 | 0
5 | Debt securities, including UoP | 109 | 4 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0 | 0
7 | Other financial corporations | 87 | 7 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 1,871 | 908 | 0 | 100 | 612
21 | Loans and advances | 1,650 | 775 | 0 | 81 | 505
22 | Debt securities, including UoP | 221 | 133 | 0 | 18 | 108
23 | Equity instruments | 0 | 0 |  | 0 | 0
24 | Households | 28,870 | 308 | 308 | 0 | 0
25 | of which loans collateralised by residential immovable property | 28,855 | 308 | 308 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 15 | 0 | 0 | 0 | 0
28 | Local governments financing | 23 | 0 | 0 | 0 | 0
29 | Housing financing | 23 | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |  |
35 | Loans and advances |  |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |  |
37 | of which building renovation loans |  |  |  |  |
38 | Debt securities |  |  |  |  |
39 | Equity instruments |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |  |
41 | Loans and advances |  |  |  |  |
42 | Debt securities |  |  |  |  |
43 | Equity instruments |  |  |  |  |
44 | Derivatives |  |  |  |  |
45 | On demand interbank loans |  |  |  |  |
46 | Cash and cash-related assets |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |  |
48 | Total GAR assets | 30,973 | 1,228 | 308 | 100 | 613
49 | Assets not covered for GAR calculation |  |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |  |
51 | Central banks exposure |  |  |  |  |
52 | Trading book |  |  |  |  |
53 | Total assets | 30,973 | 1,228 | 308 | 100 | 613
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |
54 | Financial guarantees | 321 | 202 | 0 | 36 | 90
55 | Assets under management | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 91

|  | ag | ah | ai | aj | ak | al
| 31/12/2024 | Total [gross] carrying amount | Climate Change Mitigation (CCM)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,867 | 29,338 | 1,063 | 41 | 224 | 415
2 | Financial undertakings | 3,656 | 312 | 11 | 0 | 1 | 1
3 | Credit institutions | 3,557 | 288 | 10 | 0 | 0 | 1
4 | Loans and advances | 1,391 | 58 | 4 | 0 | 0 | 0
5 | Debt securities, including UoP | 2,082 | 214 | 6 | 0 | 0 | 1
6 | Equity instruments | 84 | 16 | 0 |  | 0 | 0
7 | Other financial corporations | 98 | 24 | 1 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 4,786 | 1,953 | 1,011 | 0 | 223 | 414
21 | Loans and advances | 4,177 | 1,753 | 898 | 0 | 209 | 307
22 | Debt securities, including UoP | 608 | 200 | 114 | 0 | 14 | 106
23 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
24 | Households | 27,438 | 27,070 | 41 | 41 | 0 | 0
25 | of which loans collateralised by residential immovable property | 27,240 | 27,056 | 41 | 41 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 199 | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 1,987 | 2 | 0 | 0 | 0 | 0
29 | Housing financing | 1,959 | 2 | 0 | 0 | 0 | 0
30 | Other local government financing | 28 | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 21 | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 94,660 | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings | 59,671 |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 47,456 |  |  |  |  |
35 | Loans and advances | 43,786 |  |  |  |  |
36 | of which loans collateralised by commercial immovable property | 9,428 |  |  |  |  |
37 | of which building renovation loans | 0 |  |  |  |  |
38 | Debt securities | 2,122 |  |  |  |  |
39 | Equity instruments | 1,548 |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 12,979 |  |  |  |  |
41 | Loans and advances | 12,151 |  |  |  |  |
42 | Debt securities | 717 |  |  |  |  |
43 | Equity instruments | 111 |  |  |  |  |
44 | Derivatives | 1,014 |  |  |  |  |
45 | On demand interbank loans | 13,043 |  |  |  |  |
46 | Cash and cash-related assets | 3,338 |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 17,594 |  |  |  |  |
48 | Total GAR assets | 132,548 | 29,338 | 1,063 | 41 | 224 | 415
49 | Assets not covered for GAR calculation | 68,178 |  |  |  |  |
50 | Central governments and Supranational issuers | 29,578 |  |  |  |  |
51 | Central banks exposure | 32,663 |  |  |  |  |
52 | Trading book | 5,937 |  |  |  |  |
53 | Total assets | 200,725 | 29,338 | 1,063 | 41 | 224 | 415
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |  |
54 | Financial guarantees | 9,248 | 332 | 193 | 0 | 49 | 99
55 | Assets under management | 63,736 | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
92 Group management report

|  | am | an | ao | ap
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 51 | 9 | 0 | 0
2 | Financial undertakings | 37 | 0 | 0 | 0
3 | Credit institutions | 37 | 0 | 0 | 0
4 | Loans and advances | 8 | 0 | 0 | 0
5 | Debt securities, including UoP | 26 | 0 | 0 | 0
6 | Equity instruments | 3 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 14 | 9 | 0 | 0
21 | Loans and advances | 14 | 9 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 51 | 9 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 51 | 9 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 4 | 1 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 93

|  | aq | ar | as | at
| 31/12/2024 | Water and marine resources (WTR)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  |
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  |
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 1 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
94 Group management report

|  | au | av | aw | ax
| 31/12/2024 | Circular economy (CE)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 15 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  |
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 15 | 0 | 0 | 0
21 | Loans and advances | 15 | 0 | 0 | 0
22 | Debt securities, including UoP | 1 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 15 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 15 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 9 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 95

|  | ay | az | ba | bb
| 31/12/2024 | Pollution (PPC)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
96 Group management report

|  | bc | bd | be | bf
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 97

|  | bg | bh | bi | bj | bk
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 29,404 | 1,072 | 41 | 224 | 415
2 | Financial undertakings | 349 | 11 | 0 | 1 | 1
3 | Credit institutions | 325 | 10 | 0 | 0 | 1
4 | Loans and advances | 66 | 4 | 0 | 0 | 0
5 | Debt securities, including UoP | 239 | 6 | 0 | 0 | 1
6 | Equity instruments | 20 | 0 |  | 0 | 0
7 | Other financial corporations | 24 | 1 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 1,983 | 1,020 | 0 | 223 | 414
21 | Loans and advances | 1,782 | 907 | 0 | 209 | 307
22 | Debt securities, including UoP | 201 | 114 | 0 | 14 | 106
23 | Equity instruments | 0 | 0 |  | 0 | 0
24 | Households | 27,070 | 41 | 41 | 0 | 0
25 | of which loans collateralised by residential immovable property | 27,056 | 41 | 41 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 2 | 0 | 0 | 0 | 0
29 | Housing financing | 2 | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |  |
35 | Loans and advances |  |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |  |
37 | of which building renovation loans |  |  |  |  |
38 | Debt securities |  |  |  |  |
39 | Equity instruments |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |  |
41 | Loans and advances |  |  |  |  |
42 | Debt securities |  |  |  |  |
43 | Equity instruments |  |  |  |  |
44 | Derivatives |  |  |  |  |
45 | On demand interbank loans |  |  |  |  |
46 | Cash and cash-related assets |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |  |
48 | Total GAR assets | 29,404 | 1,072 | 41 | 224 | 415
49 | Assets not covered for GAR calculation |  |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |  |
51 | Central banks exposure |  |  |  |  |
52 | Trading book |  |  |  |  |
53 | Total assets | 29,404 | 1,072 | 41 | 224 | 415
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |
54 | Financial guarantees | 345 | 195 | 0 | 49 | 99
55 | Assets under management | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
98 Group management report
Assets for the calculation of GAR (turnover)

|  | a | b | c | d | e | f
| 31/12/2025 | Total [gross] carrying amount | Climate Change Mitigation (CCM)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 40,655 | 30,603 | 831 | 308 | 110 | 321
2 | Financial undertakings | 3,858 | 159 | 5 | 0 | 0 | 0
3 | Credit institutions | 3,374 | 121 | 4 | 0 | 0 | 0
4 | Loans and advances | 1,532 | 13 | 1 | 0 | 0 | 0
5 | Debt securities, including UoP | 1,822 | 108 | 4 | 0 | 0 | 0
6 | Equity instruments | 20 | 0 | 0 |  | 0 | 0
7 | Other financial corporations | 484 | 38 | 1 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 358 | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 5 | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 1 | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 352 | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 4,686 | 1,552 | 517 | 0 | 110 | 321
21 | Loans and advances | 3,950 | 1,421 | 459 | 0 | 100 | 282
22 | Debt securities, including UoP | 736 | 130 | 58 | 0 | 10 | 39
23 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
24 | Households | 30,053 | 28,870 | 308 | 308 | 0 | 0
25 | of which loans collateralised by residential immovable property | 29,852 | 28,855 | 308 | 308 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 201 | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 2,058 | 23 | 0 | 0 | 0 | 0
29 | Housing financing | 2,036 | 23 | 0 | 0 | 0 | 0
30 | Other local government financing | 22 | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 23 | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 94,950 | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings | 61,813 |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 49,869 |  |  |  |  |
35 | Loans and advances | 45,728 |  |  |  |  |
36 | of which loans collateralised by commercial immovable property | 10,560 |  |  |  |  |
37 | of which building renovation loans | 0 |  |  |  |  |
38 | Debt securities | 2,777 |  |  |  |  |
39 | Equity instruments | 1,363 |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 13,066 |  |  |  |  |
41 | Loans and advances | 12,231 |  |  |  |  |
42 | Debt securities | 753 |  |  |  |  |
43 | Equity instruments | 82 |  |  |  |  |
44 | Derivatives | 1,098 |  |  |  |  |
45 | On demand interbank loans | 10,121 |  |  |  |  |
46 | Cash and cash-related assets | 3,287 |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 18,630 |  |  |  |  |
48 | Total GAR assets | 135,628 | 30,603 | 831 | 308 | 110 | 321
49 | Assets not covered for GAR calculation | 74,835 |  |  |  |  |
50 | Central governments and Supranational issuers | 37,230 |  |  |  |  |
51 | Central banks exposure | 30,393 |  |  |  |  |
52 | Trading book | 7,212 |  |  |  |  |
53 | Total assets | 210,463 | 30,603 | 831 | 308 | 110 | 321
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |  |
54 | Financial guarantees | 10,039 | 180 | 96 | 0 | 23 | 31
55 | Assets under management | 67,195 | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 99

|  | g | h | i | j
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 31 | 17 | 0 | 0
2 | Financial undertakings | 30 | 17 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 30 | 17 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 1 | 0 | 0 | 0
21 | Loans and advances | 1 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 1 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 31 | 17 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 31 | 17 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
100 Group management report

|  | k | l | m | n
| 31/12/2025 | Water and marine resources (WTR)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 101

|  | o | p | q | r
| 31/12/2025 | Circular economy (CE)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 33 | 0 | 0 | 0
2 | Financial undertakings | 3 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 3 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 29 | 0 | 0 | 0
21 | Loans and advances | 25 | 0 | 0 | 0
22 | Debt securities, including UoP | 4 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 33 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 33 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 5 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
102 Group management report

|  | s | t | u | v
| 31/12/2025 | Pollution (PPC)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 3 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 103

|  | w | x | z | aa
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 17 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 17 | 0 | 0 | 0
21 | Loans and advances | 17 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 17 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 17 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
104 Group management report

|  | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 30,685 | 848 | 308 | 110 | 321
2 | Financial undertakings | 193 | 23 | 0 | 0 | 0
3 | Credit institutions | 121 | 4 | 0 | 0 | 0
4 | Loans and advances | 13 | 1 | 0 | 0 | 0
5 | Debt securities, including UoP | 108 | 4 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0 | 0
7 | Other financial corporations | 71 | 18 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 1,599 | 517 | 0 | 110 | 321
21 | Loans and advances | 1,464 | 459 | 0 | 100 | 282
22 | Debt securities, including UoP | 135 | 58 | 0 | 10 | 39
23 | Equity instruments | 0 | 0 |  | 0 | 0
24 | Households | 28,870 | 308 | 308 | 0 | 0
25 | of which loans collateralised by residential immovable property | 28,855 | 308 | 308 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 15 | 0 | 0 | 0 | 0
28 | Local governments financing | 23 | 0 | 0 | 0 | 0
29 | Housing financing | 23 | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |  |
35 | Loans and advances |  |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |  |
37 | of which building renovation loans |  |  |  |  |
38 | Debt securities |  |  |  |  |
39 | Equity instruments |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |  |
41 | Loans and advances |  |  |  |  |
42 | Debt securities |  |  |  |  |
43 | Equity instruments |  |  |  |  |
44 | Derivatives |  |  |  |  |
45 | On demand interbank loans |  |  |  |  |
46 | Cash and cash-related assets |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |  |
48 | Total GAR assets | 30,685 | 848 | 308 | 110 | 321
49 | Assets not covered for GAR calculation |  |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |  |
51 | Central banks exposure |  |  |  |  |
52 | Trading book |  |  |  |  |
53 | Total assets | 30,685 | 848 | 308 | 110 | 321
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |
54 | Financial guarantees | 188 | 96 | 0 | 23 | 31
55 | Assets under management | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 105

|  | ag | ah | ai | aj | ak | al
| 31/12/2024 | Total [gross] carrying amount | Climate Change Mitigation (CCM)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 37,867 | 28,930 | 522 | 41 | 179 | 238
2 | Financial undertakings | 3,656 | 303 | 10 | 0 | 2 | 1
3 | Credit institutions | 3,557 | 278 | 8 | 0 | 1 | 1
4 | Loans and advances | 1,391 | 56 | 3 | 0 | 0 | 1
5 | Debt securities, including UoP | 2,082 | 207 | 5 | 0 | 1 | 1
6 | Equity instruments | 84 | 15 | 0 |  | 0 | 0
7 | Other financial corporations | 98 | 25 | 2 | 0 | 1 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 4,786 | 1,555 | 471 | 0 | 177 | 236
21 | Loans and advances | 4,177 | 1,422 | 414 | 0 | 169 | 183
22 | Debt securities, including UoP | 608 | 133 | 58 | 0 | 7 | 53
23 | Equity instruments | 0 | 0 | 0 |  | 0 | 0
24 | Households | 27,438 | 27,070 | 41 | 41 | 0 | 0
25 | of which loans collateralised by residential immovable property | 27,240 | 27,056 | 41 | 41 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 199 | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 1,987 | 2 | 0 | 0 | 0 | 0
29 | Housing financing | 1,959 | 2 | 0 | 0 | 0 | 0
30 | Other local government financing | 28 | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 21 | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 94,660 | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings | 59,671 |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 47,456 |  |  |  |  |
35 | Loans and advances | 43,786 |  |  |  |  |
36 | of which loans collateralised by commercial immovable property | 9,428 |  |  |  |  |
37 | of which building renovation loans | 0 |  |  |  |  |
38 | Debt securities | 2,122 |  |  |  |  |
39 | Equity instruments | 1,548 |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 12,979 |  |  |  |  |
41 | Loans and advances | 12,151 |  |  |  |  |
42 | Debt securities | 717 |  |  |  |  |
43 | Equity instruments | 111 |  |  |  |  |
44 | Derivatives | 1,014 |  |  |  |  |
45 | On demand interbank loans | 13,043 |  |  |  |  |
46 | Cash and cash-related assets | 3,338 |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) | 17,594 |  |  |  |  |
48 | Total GAR assets | 132,548 | 28,930 | 522 | 41 | 179 | 238
49 | Assets not covered for GAR calculation | 68,178 |  |  |  |  |
50 | Central governments and Supranational issuers | 29,578 |  |  |  |  |
51 | Central banks exposure | 32,663 |  |  |  |  |
52 | Trading book | 5,937 |  |  |  |  |
53 | Total assets | 200,725 | 28,930 | 522 | 41 | 179 | 238
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |  |
54 | Financial guarantees | 9,248 | 215 | 86 | 0 | 31 | 42
55 | Assets under management | 63,736 | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
106 Group management report

|  | am | an | ao | ap
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 1 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 1 | 0 | 0 | 0
21 | Loans and advances | 1 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 1 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 1 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 107

|  | aq | ar | as | at
| 31/12/2024 | Water and marine resources (WTR)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 | 0 | 0
20 | Non-financial undertakings | 0 | 0 | 0 | 0
21 | Loans and advances | 0 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 0 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 0 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
108 Group management report

|  | au | av | aw | ax
| 31/12/2024 | Circular economy (CE)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 27 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 27 | 0 | 0 | 0
21 | Loans and advances | 26 | 0 | 0 | 0
22 | Debt securities, including UoP | 1 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households | 0 | 0 | 0 | 0
25 | of which loans collateralised by residential immovable property | 0 | 0 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 27 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 27 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 13 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 109

|  | ay | az | ba | bb
| 31/12/2024 | Pollution (PPC)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 3 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 3 | 0 | 0 | 0
21 | Loans and advances | 3 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 3 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 3 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 2 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
110 Group management report

|  | bc | bd | be | bf
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 20 | 0 | 0 | 0
2 | Financial undertakings | 0 | 0 | 0 | 0
3 | Credit institutions | 0 | 0 | 0 | 0
4 | Loans and advances | 0 | 0 | 0 | 0
5 | Debt securities, including UoP | 0 | 0 | 0 | 0
6 | Equity instruments | 0 | 0 |  | 0
7 | Other financial corporations | 0 | 0 | 0 | 0
8 | of which investment firms | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0
12 | of which management companies | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0
20 | Non-financial undertakings | 20 | 0 | 0 | 0
21 | Loans and advances | 20 | 0 | 0 | 0
22 | Debt securities, including UoP | 0 | 0 | 0 | 0
23 | Equity instruments | 0 | 0 |  | 0
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0 | 0 | 0 | 0
29 | Housing financing | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |
35 | Loans and advances |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |
37 | of which building renovation loans |  |  |  |
38 | Debt securities |  |  |  |
39 | Equity instruments |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |
41 | Loans and advances |  |  |  |
42 | Debt securities |  |  |  |
43 | Equity instruments |  |  |  |
44 | Derivatives |  |  |  |
45 | On demand interbank loans |  |  |  |
46 | Cash and cash-related assets |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |
48 | Total GAR assets | 20 | 0 | 0 | 0
49 | Assets not covered for GAR calculation |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |
51 | Central banks exposure |  |  |  |
52 | Trading book |  |  |  |
53 | Total assets | 20 | 0 | 0 | 0
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |
54 | Financial guarantees | 0 | 0 | 0 | 0
55 | Assets under management | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 111

|  | bg | bh | bi | bj | bk
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Of which towards taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Of which environmentally sustainable (Taxonomy-aligned)
| in € million |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 28,980 | 522 | 41 | 179 | 238
2 | Financial undertakings | 303 | 10 | 0 | 2 | 1
3 | Credit institutions | 278 | 8 | 0 | 1 | 1
4 | Loans and advances | 56 | 3 | 0 | 0 | 1
5 | Debt securities, including UoP | 207 | 5 | 0 | 1 | 1
6 | Equity instruments | 15 | 0 |  | 0 | 0
7 | Other financial corporations | 25 | 2 | 0 | 1 | 0
8 | of which investment firms | 0 | 0 | 0 | 0 | 0
9 | Loans and advances | 0 | 0 | 0 | 0 | 0
10 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
11 | Equity instruments | 0 | 0 |  | 0 | 0
12 | of which management companies | 0 | 0 | 0 | 0 | 0
13 | Loans and advances | 0 | 0 | 0 | 0 | 0
14 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
15 | Equity instruments | 0 | 0 |  | 0 | 0
16 | of which insurance undertakings | 0 | 0 | 0 | 0 | 0
17 | Loans and advances | 0 | 0 | 0 | 0 | 0
18 | Debt securities, including UoP | 0 | 0 | 0 | 0 | 0
19 | Equity instruments | 0 | 0 |  | 0 | 0
20 | Non-financial undertakings | 1,605 | 471 | 0 | 177 | 236
21 | Loans and advances | 1,472 | 414 | 0 | 169 | 183
22 | Debt securities, including UoP | 134 | 58 | 0 | 7 | 53
23 | Equity instruments | 0 | 0 |  | 0 | 0
24 | Households | 27,070 | 41 | 41 | 0 | 0
25 | of which loans collateralised by residential immovable property | 27,056 | 41 | 41 | 0 | 0
26 | of which building renovation loans | 0 | 0 | 0 | 0 | 0
27 | of which motor vehicle loans | 14 | 0 | 0 | 0 | 0
28 | Local governments financing | 2 | 0 | 0 | 0 | 0
29 | Housing financing | 2 | 0 | 0 | 0 | 0
30 | Other local government financing | 0 | 0 | 0 | 0 | 0
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0 | 0 | 0 | 0 | 0
32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 0 | 0 | 0 | 0 | 0
33 | Financial and Non-financial undertakings |  |  |  |  |
34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations |  |  |  |  |
35 | Loans and advances |  |  |  |  |
36 | of which loans collateralised by commercial immovable property |  |  |  |  |
37 | of which building renovation loans |  |  |  |  |
38 | Debt securities |  |  |  |  |
39 | Equity instruments |  |  |  |  |
40 | Non-EU country counterparties not subject to NFRD disclosure obligations |  |  |  |  |
41 | Loans and advances |  |  |  |  |
42 | Debt securities |  |  |  |  |
43 | Equity instruments |  |  |  |  |
44 | Derivatives |  |  |  |  |
45 | On demand interbank loans |  |  |  |  |
46 | Cash and cash-related assets |  |  |  |  |
47 | Other categories of assets (e.g. Goodwill, commodities etc.) |  |  |  |  |
48 | Total GAR assets | 28,980 | 522 | 41 | 179 | 238
49 | Assets not covered for GAR calculation |  |  |  |  |
50 | Central governments and Supranational issuers |  |  |  |  |
51 | Central banks exposure |  |  |  |  |
52 | Trading book |  |  |  |  |
53 | Total assets | 28,980 | 522 | 41 | 179 | 238
| Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations |  |  |  |  |
54 | Financial guarantees | 231 | 86 | 0 | 31 | 42
55 | Assets under management | 0 | 0 | 0 | 0 | 0
56 | of which debt securities | 0 | 0 | 0 | 0 | 0
57 | of which equity instruments | 0 | 0 | 0 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
112 Group management report
Template 2 – GAR sector information

1. Credit institutions shall disclose in this template information on exposures in the banking book towards those sectors covered by the Taxonomy (NACE sectors 4 levels of detail), using the relevant NACE Codes on the basis of the principal activity of the counterparty.
2. The counterparty NACE sector allocation shall be based exclusively on the nature of the immediate counterparty. The classification of the exposures incurred jointly by more than one obligor shall be done on the basis of the characteristics of the obligor that was the more relevant, or determinant, for the institution to grant the exposure. The distribution of jointly incurred exposures by NACE codes shall be driven by the characteristics of the more relevant or determinant obligor. Institutions shall disclose information by NACE codes with the level of disaggregation required in the template.

GAR sector information (CapEX)

|  | a | b | c | d
| 31/12/2025 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
1 | 0610 - Extraction of crude petroleum | 12 | 3 |  |
2 | 0620 - Extraction of natural gas | 7 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 40 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 1 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 3 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 39 | 12 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 10 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 1 | 1 |  |
17 | 2351 - Manufacture of cement | 1 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 29 | 15 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 1 | 0 |  |
23 | 2611 - Manufacture of electronic components | 52 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 184 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 18 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 8 | 1 |  |
27 | 2790 - Manufacture of other electrical equipment | 14 | 1 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 316 | 76 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 33 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 147 | 137 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 35 | 27 |  |
36 | 3514 - Trade of electricity | 67 | 65 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 62 | 46 |  |
38 | 3523 - Trade of gas through mains | 4 | 4 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 11 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 2 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 61 | 54 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 9 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 4 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 15 | 8 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 6 | 3 |  |
53 | 4675 - Wholesale of chemical products | 1 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 1 | 1 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 113

|  | a | b | c | d
| 31/12/2025 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 14 | 1 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 19 | 2 |  |
61 | 5229 - Other transportation support activities | 2 | 1 |  |
62 | 5310 - Postal activities under universal service obligation | 41 | 30 |  |
63 | 5510 - Hotels and similar accommodation | 7 | 0 |  |
64 | 6110 - Wired telecommunications activities | 2 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 1 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 9 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 8 | 1 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 20 | 6 |  |
72 | 7010 - Activities of head offices | 487 | 379 |  |
73 | 7022 - Business and other management consultancy activities | 31 | 25 |  |
74 | 7120 - Technical testing and analysis | 7 | 7 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 1 | 1 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
114 Group management report

|  | e | f | g | h
| 31/12/2025 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 5 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 115

|  | e | f | g | h
| 31/12/2025 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | i | j | k | l
| 31/12/2025 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
116 Group management report

|  | i | j | k | l
| 31/12/2025 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 117

|  | m | n | o | p
| 31/12/2025 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 1 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 1 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 6 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 2 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
118 Group management report

|  | m | n | o | p
| 31/12/2025 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 10 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | q | r | s | t
| 31/12/2025 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 119

|  | q | r | s | t
| 31/12/2025 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
120 Group management report

|  | u | v | w | x
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 121

|  | u | v | w | x
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | y | z | aa | ab
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
1 | 0610 - Extraction of crude petroleum | 12 | 3 |  |
2 | 0620 - Extraction of natural gas | 7 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 40 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 1 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 3 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 39 | 12 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 10 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 1 | 1 |  |
17 | 2351 - Manufacture of cement | 1 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 29 | 15 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 1 | 0 |  |
23 | 2611 - Manufacture of electronic components | 53 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 184 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 18 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 8 | 1 |  |
27 | 2790 - Manufacture of other electrical equipment | 14 | 1 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 316 | 76 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 33 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 147 | 137 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 35 | 27 |  |
36 | 3514 - Trade of electricity | 67 | 65 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 62 | 46 |  |
38 | 3523 - Trade of gas through mains | 4 | 4 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 11 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
122 Group management report

|  | y | z | aa | ab
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
43 | 4511 - Sale of cars and light motor vehicles | 2 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 62 | 54 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 9 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 15 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 15 | 8 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 6 | 3 |  |
53 | 4675 - Wholesale of chemical products | 1 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 1 | 1 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 14 | 1 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 19 | 2 |  |
61 | 5229 - Other transportation support activities | 2 | 1 |  |
62 | 5310 - Postal activities under universal service obligation | 41 | 30 |  |
63 | 5510 - Hotels and similar accommodation | 7 | 0 |  |
64 | 6110 - Wired telecommunications activities | 4 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 1 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 9 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 8 | 1 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 20 | 6 |  |
72 | 7010 - Activities of head offices | 498 | 379 |  |
73 | 7022 - Business and other management consultancy activities | 31 | 25 |  |
74 | 7120 - Technical testing and analysis | 7 | 7 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 1 | 1 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 123

|  | ac | ad | ae | af
| 31/12/2024 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
1 | 0610 - Extraction of crude petroleum | 9 | 2 |  |
2 | 0620 - Extraction of natural gas | 8 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 6 | 1 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 47 | 14 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 1 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 9 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 8 | 2 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 77 | 23 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 52 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 204 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 20 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 8 | 1 |  |
27 | 2790 - Manufacture of other electrical equipment | 14 | 1 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 155 | 43 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 39 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 161 | 156 |  |
34 | 3512 - Transmission of electricity | 1 | 1 |  |
35 | 3513 - Distribution of electricity | 7 | 12 |  |
36 | 3514 - Trade of electricity | 32 | 31 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 89 | 66 |  |
38 | 3523 - Trade of gas through mains | 37 | 37 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 13 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 1 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 2 | 1 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 125 | 114 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 2 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 4 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 58 | 17 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 7 | 3 |  |
53 | 4675 - Wholesale of chemical products | 1 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 7 | 2 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 103 | 102 |  |
58 | 5020 - Sea and coastal freight water transport | 10 | 1 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 19 | 2 |  |
61 | 5229 - Other transportation support activities | 13 | 1 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 7 | 0 |  |
64 | 6110 - Wired telecommunications activities | 2 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
124 Group management report

|  | ac | ad | ae | af
| 31/12/2024 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 15 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 9 | 1 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 21 | 6 |  |
72 | 7010 - Activities of head offices | 513 | 345 |  |
73 | 7022 - Business and other management consultancy activities | 28 | 16 |  |
74 | 7120 - Technical testing and analysis | 7 | 7 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 1 | 1 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | ag | ah | ai | aj
| 31/12/2024 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 9 | 9 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 125

|  | ag | ah | ai | aj
| 31/12/2024 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 5 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
126 Group management report

|  | ak | al | am | an
| 31/12/2024 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 127

|  | ak | al | am | an
| 31/12/2024 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | ao | ap | aq | ar
| 31/12/2024 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 1 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 1 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
128 Group management report

|  | ao | ap | aq | ar
| 31/12/2024 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 6 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 3 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 4 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 129

|  | as | at | au | av
| 31/12/2024 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
130 Group management report

|  | as | at | au | av
| 31/12/2024 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

|  | aw | ax | ay | az
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 0 | 0 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 0 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
27 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 0 | 0 |  |
34 | 3512 - Transmission of electricity | 0 | 0 |  |
35 | 3513 - Distribution of electricity | 0 | 0 |  |
36 | 3514 - Trade of electricity | 0 | 0 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
38 | 3523 - Trade of gas through mains | 0 | 0 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 131

|  | aw | ax | ay | az
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
53 | 4675 - Wholesale of chemical products | 0 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 0 | 0 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 0 | 0 |  |
58 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
61 | 5229 - Other transportation support activities | 0 | 0 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
64 | 6110 - Wired telecommunications activities | 0 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
72 | 7010 - Activities of head offices | 0 | 0 |  |
73 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
74 | 7120 - Technical testing and analysis | 0 | 0 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
132 Group management report

|  | ba | bb | bc | bd
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
1 | 0610 - Extraction of crude petroleum | 9 | 2 |  |
2 | 0620 - Extraction of natural gas | 8 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 6 | 1 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1106 - Manufacture of malt | 0 | 0 |  |
8 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
9 | 1419 - Manufacture of other wearing apparel and accessories | 0 | 0 |  |
10 | 1920 - Manufacture of refined petroleum products | 47 | 14 |  |
11 | 2015 - Manufacture of fertilisers and nitrogen compounds | 10 | 10 |  |
12 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
13 | 2059 - Manufacture of other chemical products n.e.c. | 1 | 0 |  |
14 | 2060 - Manufacture of man-made fibres | 9 | 0 |  |
15 | 2120 - Manufacture of pharmaceutical preparations | 0 | 0 |  |
16 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
17 | 2351 - Manufacture of cement | 8 | 2 |  |
18 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 77 | 23 |  |
19 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
20 | 2433 - Cold forming or folding | 0 | 0 |  |
21 | 2442 - Aluminium production | 0 | 0 |  |
22 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
23 | 2611 - Manufacture of electronic components | 53 | 0 |  |
24 | 2612 - Manufacture of loaded electronic boards | 204 | 0 |  |
25 | 2630 - Manufacture of communication equipment | 20 | 0 |  |
26 | 2711 - Manufacture of electric motors, generators and transformers | 8 | 1 |  |
27 | 2790 - Manufacture of other electrical equipment | 14 | 1 |  |
28 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 0 |  |
29 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
30 | 2910 - Manufacture of motor vehicles | 155 | 43 |  |
31 | 3020 - Manufacture of railway locomotives and rolling stock | 39 | 0 |  |
32 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
33 | 3511 - Production of electricity | 161 | 156 |  |
34 | 3512 - Transmission of electricity | 1 | 1 |  |
35 | 3513 - Distribution of electricity | 7 | 12 |  |
36 | 3514 - Trade of electricity | 32 | 31 |  |
37 | 3522 - Distribution of gaseous fuels through mains | 89 | 66 |  |
38 | 3523 - Trade of gas through mains | 37 | 37 |  |
39 | 3821 - Treatment and disposal of non-hazardous waste | 13 | 0 |  |
40 | 4120 - Construction of residential and non-residential buildings | 2 | 0 |  |
41 | 4211 - Construction of roads and motorways | 0 | 0 |  |
42 | 4329 - Other construction installation | 0 | 0 |  |
43 | 4511 - Sale of cars and light motor vehicles | 2 | 1 |  |
44 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
45 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
46 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 125 | 114 |  |
47 | 4634 - Wholesale of beverages | 0 | 0 |  |
48 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 2 | 0 |  |
49 | 4639 - Non-specialised wholesale of food, beverages and tobacco | 0 | 0 |  |
50 | 4651 - Wholesale of computers, computer peripheral equipment and software | 15 | 0 |  |
51 | 4672 - Wholesale of metals and metal ores | 58 | 17 |  |
52 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 7 | 3 |  |
53 | 4675 - Wholesale of chemical products | 1 | 0 |  |
54 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
55 | 4920 - Freight rail transport | 7 | 2 |  |
56 | 4941 - Freight transport by road | 0 | 0 |  |
57 | 4950 - Transport via pipeline | 103 | 102 |  |
58 | 5020 - Sea and coastal freight water transport | 10 | 1 |  |
59 | 5110 - Passenger air transport | 0 | 0 |  |
60 | 5223 - Service activities incidental to air transportation | 19 | 2 |  |
61 | 5229 - Other transportation support activities | 13 | 1 |  |
62 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
63 | 5510 - Hotels and similar accommodation | 7 | 0 |  |
64 | 6110 - Wired telecommunications activities | 5 | 0 |  |
65 | 6120 - Wireless telecommunications activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 133

|  | ba | bb | bc | bd
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
66 | 6190 - Other telecommunications activities | 0 | 0 |  |
67 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
68 | 6399 - Other information service activities n.e.c. | 15 | 0 |  |
69 | 6420 - Activities of holding companies | 0 | 0 |  |
70 | 6820 - Renting and operating of own or leased real estate | 9 | 1 |  |
71 | 6832 - Management of real estate on a fee or contract basis | 21 | 6 |  |
72 | 7010 - Activities of head offices | 517 | 345 |  |
73 | 7022 - Business and other management consultancy activities | 28 | 16 |  |
74 | 7120 - Technical testing and analysis | 7 | 7 |  |
75 | 7219 - Other research and experimental development on natural sciences and engineering | 1 | 1 |  |
76 | 7311 - Advertising agencies | 0 | 0 |  |
77 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
78 | 8690 - Other human health activities | 0 | 0 |  |

GAR sector information (turnover)

|  | a | b | c | d
| 31/12/2025 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
1 | 0610 - Extraction of crude petroleum | 15 | 1 |  |
2 | 0620 - Extraction of natural gas | 4 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 40 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 1 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 1 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 1 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 1 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 11 | 9 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 1 | 1 |  |
20 | 2611 - Manufacture of electronic components | 42 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 199 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 21 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 7 | 1 |  |
24 | 2790 - Manufacture of other electrical equipment | 18 | 1 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 1 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 2 | 2 |  |
28 | 2910 - Manufacture of motor vehicles | 341 | 38 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 33 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 112 | 105 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 25 | 16 |  |
34 | 3514 - Trade of electricity | 31 | 28 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 30 | 15 |  |
36 | 3523 - Trade of gas through mains | 1 | 1 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 11 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 1 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
134 Group management report

|  | a | b | c | d
| 31/12/2025 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 9 | 7 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 4 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 6 | 5 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 55 | 1 |  |
49 | 4675 - Wholesale of chemical products | 1 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 1 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 15 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 9 | 1 |  |
55 | 5229 - Other transportation support activities | 2 | 1 |  |
56 | 5310 - Postal activities under universal service obligation | 48 | 21 |  |
57 | 5510 - Hotels and similar accommodation | 18 | 0 |  |
58 | 6110 - Wired telecommunications activities | 1 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 1 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 21 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 8 | 1 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 20 | 4 |  |
66 | 7010 - Activities of head offices | 356 | 234 |  |
67 | 7022 - Business and other management consultancy activities | 17 | 14 |  |
68 | 7120 - Technical testing and analysis | 8 | 8 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 135

|  | e | f | g | h
| 31/12/2025 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
136 Group management report

|  | e | f | g | h
| 31/12/2025 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | i | j | k | l
| 31/12/2025 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 137

|  | i | j | k | l
| 31/12/2025 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | m | n | o | p
| 31/12/2025 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 11 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 1 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
138 Group management report

|  | m | n | o | p
| 31/12/2025 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 2 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 10 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 1 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 5 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | q | r | s | t
| 31/12/2025 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 139

|  | q | r | s | t
| 31/12/2025 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | u | v | w | x
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
140 Group management report

|  | u | v | w | x
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 17 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 141

|  | y | z | aa | ab
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
1 | 0610 - Extraction of crude petroleum | 15 | 1 |  |
2 | 0620 - Extraction of natural gas | 4 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 40 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 1 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 1 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 1 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 1 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 11 | 9 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 1 | 1 |  |
20 | 2611 - Manufacture of electronic components | 53 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 199 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 21 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 7 | 1 |  |
24 | 2790 - Manufacture of other electrical equipment | 18 | 1 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 1 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 2 | 2 |  |
28 | 2910 - Manufacture of motor vehicles | 341 | 38 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 33 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 113 | 105 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 25 | 16 |  |
34 | 3514 - Trade of electricity | 31 | 28 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 30 | 15 |  |
36 | 3523 - Trade of gas through mains | 1 | 1 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 11 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 1 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 11 | 7 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 14 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 6 | 5 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 55 | 1 |  |
49 | 4675 - Wholesale of chemical products | 1 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 1 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 15 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 9 | 1 |  |
55 | 5229 - Other transportation support activities | 2 | 1 |  |
56 | 5310 - Postal activities under universal service obligation | 48 | 21 |  |
57 | 5510 - Hotels and similar accommodation | 35 | 0 |  |
58 | 6110 - Wired telecommunications activities | 2 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 1 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 21 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 8 | 1 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 20 | 4 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
142 Group management report

|  | y | z | aa | ab
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
66 | 7010 - Activities of head offices | 361 | 234 |  |
67 | 7022 - Business and other management consultancy activities | 17 | 14 |  |
68 | 7120 - Technical testing and analysis | 8 | 8 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 143

|  | ac | ad | ae | af
| 31/12/2024 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
1 | 0610 - Extraction of crude petroleum | 10 | 1 |  |
2 | 0620 - Extraction of natural gas | 5 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 3 | 1 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 3 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 1 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 7 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 70 | 26 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 40 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 246 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 23 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 6 | 1 |  |
24 | 2790 - Manufacture of other electrical equipment | 18 | 1 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 1 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 185 | 18 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 39 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 92 | 88 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 6 | 7 |  |
34 | 3514 - Trade of electricity | 14 | 12 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 27 | 3 |  |
36 | 3523 - Trade of gas through mains | 2 | 2 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 13 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 2 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 13 | 11 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 4 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 53 | 20 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 55 | 1 |  |
49 | 4675 - Wholesale of chemical products | 1 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 6 | 2 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 10 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 9 | 1 |  |
55 | 5229 - Other transportation support activities | 18 | 1 |  |
56 | 5310 - Postal activities under universal service obligation | 1 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 21 | 0 |  |
58 | 6110 - Wired telecommunications activities | 1 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 1 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 34 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 9 | 1 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 22 | 4 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
144 Group management report

|  | ac | ad | ae | af
| 31/12/2024 | Climate Change Mitigation (CCM)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM) |  | Of which environmentally sustainable (CCM)
66 | 7010 - Activities of head offices | 465 | 255 |  |
67 | 7022 - Business and other management consultancy activities | 10 | 6 |  |
68 | 7120 - Technical testing and analysis | 8 | 8 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 1 | 0 |  |

|  | ag | ah | ai | aj
| 31/12/2024 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 145

|  | ag | ah | ai | aj
| 31/12/2024 | Climate Change Adaptation (CCA)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCA) |  | Of which environmentally sustainable (CCA)
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 1 | 0 |  |

|  | ak | al | am | an
| 31/12/2024 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
146 Group management report

|  | ak | al | am | an
| 31/12/2024 | Water and marine resources (WTR)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (WTR) |  | Of which environmentally sustainable (WTR)
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 147

|  | ao | ap | aq | ar
| 31/12/2024 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 11 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 2 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 10 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 1 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 2 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
148 Group management report

|  | ao | ap | aq | ar
| 31/12/2024 | Circular economy (CE)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CE) |  | Of which environmentally sustainable (CE)
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | as | at | au | av
| 31/12/2024 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 149

|  | as | at | au | av
| 31/12/2024 | Pollution (PPC)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (PPC) |  | Of which environmentally sustainable (PPC)
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 0 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 3 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

|  | aw | ax | ay | az
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
1 | 0610 - Extraction of crude petroleum | 0 | 0 |  |
2 | 0620 - Extraction of natural gas | 0 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 0 | 0 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 0 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 0 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 0 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 0 | 0 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 0 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 0 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 0 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 0 | 0 |  |
24 | 2790 - Manufacture of other electrical equipment | 0 | 0 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 0 | 0 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 0 | 0 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 0 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 0 | 0 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 0 | 0 |  |
34 | 3514 - Trade of electricity | 0 | 0 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 0 | 0 |  |
36 | 3523 - Trade of gas through mains | 0 | 0 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 0 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
150 Group management report

|  | aw | ax | ay | az
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (BIO) |  | Of which environmentally sustainable (BIO)
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 0 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 0 | 0 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 0 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 0 | 0 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 0 | 0 |  |
49 | 4675 - Wholesale of chemical products | 0 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 0 | 0 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 0 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 0 | 0 |  |
55 | 5229 - Other transportation support activities | 0 | 0 |  |
56 | 5310 - Postal activities under universal service obligation | 0 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 20 | 0 |  |
58 | 6110 - Wired telecommunications activities | 0 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 0 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 0 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 0 | 0 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 0 | 0 |  |
66 | 7010 - Activities of head offices | 0 | 0 |  |
67 | 7022 - Business and other management consultancy activities | 0 | 0 |  |
68 | 7120 - Technical testing and analysis | 0 | 0 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 0 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 151

|  | ba | bb | bc | bd
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
1 | 0610 - Extraction of crude petroleum | 10 | 1 |  |
2 | 0620 - Extraction of natural gas | 5 | 0 |  |
3 | 0910 - Support activities for petroleum and natural gas extraction | 0 | 0 |  |
4 | 1081 - Manufacture of sugar | 3 | 1 |  |
5 | 1083 - Processing of tea and coffee | 0 | 0 |  |
6 | 1105 - Manufacture of beer | 0 | 0 |  |
7 | 1107 - Manufacture of soft drinks; production of mineral waters and other bottled waters | 0 | 0 |  |
8 | 1920 - Manufacture of refined petroleum products | 3 | 0 |  |
9 | 2015 - Manufacture of fertilisers and nitrogen compounds | 0 | 0 |  |
10 | 2016 - Manufacture of plastics in primary forms | 0 | 0 |  |
11 | 2059 - Manufacture of other chemical products n.e.c. | 0 | 0 |  |
12 | 2060 - Manufacture of man-made fibres | 1 | 0 |  |
13 | 2332 - Manufacture of bricks, tiles and construction products, in baked clay | 0 | 0 |  |
14 | 2351 - Manufacture of cement | 7 | 0 |  |
15 | 2410 - Manufacture of basic iron and steel and of ferro-alloys | 70 | 26 |  |
16 | 2420 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel | 0 | 0 |  |
17 | 2433 - Cold forming or folding | 0 | 0 |  |
18 | 2442 - Aluminium production | 0 | 0 |  |
19 | 2599 - Manufacture of other fabricated metal products n.e.c. | 0 | 0 |  |
20 | 2611 - Manufacture of electronic components | 51 | 0 |  |
21 | 2612 - Manufacture of loaded electronic boards | 246 | 0 |  |
22 | 2630 - Manufacture of communication equipment | 23 | 0 |  |
23 | 2711 - Manufacture of electric motors, generators and transformers | 6 | 1 |  |
24 | 2790 - Manufacture of other electrical equipment | 18 | 1 |  |
25 | 2892 - Manufacture of machinery for mining, quarrying and construction | 1 | 1 |  |
26 | 2893 - Manufacture of machinery for food, beverage and tobacco processing | 0 | 0 |  |
27 | 2895 - Manufacture of machinery for paper and paperboard production | 0 | 0 |  |
28 | 2910 - Manufacture of motor vehicles | 185 | 18 |  |
29 | 3020 - Manufacture of railway locomotives and rolling stock | 39 | 0 |  |
30 | 3250 - Manufacture of medical and dental instruments and supplies | 0 | 0 |  |
31 | 3511 - Production of electricity | 93 | 88 |  |
32 | 3512 - Transmission of electricity | 0 | 0 |  |
33 | 3513 - Distribution of electricity | 6 | 7 |  |
34 | 3514 - Trade of electricity | 14 | 12 |  |
35 | 3522 - Distribution of gaseous fuels through mains | 27 | 3 |  |
36 | 3523 - Trade of gas through mains | 2 | 2 |  |
37 | 3821 - Treatment and disposal of non-hazardous waste | 13 | 0 |  |
38 | 4120 - Construction of residential and non-residential buildings | 0 | 0 |  |
39 | 4211 - Construction of roads and motorways | 0 | 0 |  |
40 | 4329 - Other construction installation | 0 | 0 |  |
41 | 4511 - Sale of cars and light motor vehicles | 2 | 0 |  |
42 | 4531 - Wholesale trade of motor vehicle parts and accessories | 0 | 0 |  |
43 | 4619 - Agents involved in the sale of a variety of goods | 0 | 0 |  |
44 | 4621 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds | 15 | 11 |  |
45 | 4636 - Wholesale of sugar and chocolate and sugar confectionery | 0 | 0 |  |
46 | 4651 - Wholesale of computers, computer peripheral equipment and software | 13 | 0 |  |
47 | 4672 - Wholesale of metals and metal ores | 53 | 20 |  |
48 | 4673 - Wholesale of wood, construction materials and sanitary equipment | 55 | 1 |  |
49 | 4675 - Wholesale of chemical products | 1 | 0 |  |
50 | 4752 - Retail sale of hardware, paints and glass in specialised stores | 0 | 0 |  |
51 | 4920 - Freight rail transport | 6 | 2 |  |
52 | 4941 - Freight transport by road | 0 | 0 |  |
53 | 5020 - Sea and coastal freight water transport | 10 | 0 |  |
54 | 5223 - Service activities incidental to air transportation | 9 | 1 |  |
55 | 5229 - Other transportation support activities | 18 | 1 |  |
56 | 5310 - Postal activities under universal service obligation | 1 | 0 |  |
57 | 5510 - Hotels and similar accommodation | 41 | 0 |  |
58 | 6110 - Wired telecommunications activities | 2 | 0 |  |
59 | 6120 - Wireless telecommunications activities | 0 | 0 |  |
60 | 6190 - Other telecommunications activities | 1 | 0 |  |
61 | 6209 - Other information technology and computer service activities | 0 | 0 |  |
62 | 6399 - Other information service activities n.e.c. | 34 | 0 |  |
63 | 6420 - Activities of holding companies | 0 | 0 |  |
64 | 6820 - Renting and operating of own or leased real estate | 9 | 1 |  |
65 | 6832 - Management of real estate on a fee or contract basis | 22 | 4 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
152 Group management report

|  | ba | bb | bc | bd
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
| Breakdown by sector - NACE 4 digits level (code and label) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC not subject to NFRD
| [Gross] carrying amount | [Gross] carrying amount
| in € million |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) |  | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO)
66 | 7010 - Activities of head offices | 469 | 255 |  |
67 | 7022 - Business and other management consultancy activities | 10 | 6 |  |
68 | 7120 - Technical testing and analysis | 8 | 8 |  |
69 | 7219 - Other research and experimental development on natural sciences and engineering | 0 | 0 |  |
70 | 7711 - Renting and leasing of cars and light motor vehicles | 0 | 0 |  |
71 | 9329 - Other amusement and recreation activities | 2 | 0 |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 153
Template 3 – GAR KPI stock

1. Institution shall dislcose in this template the GAR KPIs on stock of loans calculated based on the data disclosed in template 1, on covered assets, and by applying the formulas proposed in this template
2. Information on the GAR (green asset ratio of 'eligible' activities) shall be accompanied with information on the proportion of total assets covered by the GAR
3. Credit institutions can, in addition to the information included in this template, show the proportion of assets funding taxonomy relevant sectors that are environmetnally sustainable (Taxonomy-aligned). This information would enrich the information on the KPI on environmentatlly sustainable assets compared to total covered assets
4. Credit institutions shall duplicate this template for revenue based and CapEx based disclosures

GAR KPI stock (CapEX)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 76.00% | 3.00% | 0.76% | 0.25% | 1.51%
2 | Financial undertakings | 4.15% | 0.15% | 0.00% | 0.01% | 0.02%
3 | Credit institutions | 3.62% | 0.15% | 0.00% | 0.01% | 0.02%
4 | Loans and advances | 0.86% | 0.06% | 0.00% | 0.00% | 0.01%
5 | Debt securities, including UoP | 5.98% | 0.22% | 0.00% | 0.01% | 0.03%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 7.81% | 0.15% | 0.00% | 0.00% | 0.01%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.01% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 39.33% | 19.37% | 0.00% | 2.12% | 13.07%
21 | Loans and advances | 41.26% | 19.62% | 0.00% | 2.05% | 12.78%
22 | Debt securities, including UoP | 28.99% | 18.03% | 0.00% | 2.51% | 14.61%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 96.06% | 1.03% | 1.03% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 96.66% | 1.03% | 1.03% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.00% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.59% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 22.78% | 0.90% | 0.23% | 0.07% | 0.45%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
154 Group management report

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.09% | 0.02% | 0.00% | 0.00%
2 | Financial undertakings | 0.78% | 0.16% | 0.00% | 0.00%
3 | Credit institutions | 0.01% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.02% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 6.17% | 1.30% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.13% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.15% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.03% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 155

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.05% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
156 Group management report

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.10% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.50% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 3.95% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.44% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.35% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.96% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property |  | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans |  | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.03% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 157

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
158 Group management report

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 159

|  | aa | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 76.19% | 3.02% | 0.76% | 0.25% | 1.51% | 29.98%
2 | Financial undertakings | 5.43% | 0.31% | 0.00% | 0.01% | 0.02% | 2.84%
3 | Credit institutions | 3.63% | 0.15% | 0.00% | 0.01% | 0.02% | 2.49%
4 | Loans and advances | 0.86% | 0.06% | 0.00% | 0.00% | 0.01% | 1.13%
5 | Debt securities, including UoP | 6.00% | 0.22% | 0.00% | 0.01% | 0.03% | 1.34%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.01%
7 | Other financial corporations | 17.92% | 1.45% | 0.00% | 0.00% | 0.01% | 0.36%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.26%
17 | Loans and advances | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.26%
20 | Non-financial undertakings | 39.92% | 19.37% | 0.00% | 2.12% | 13.07% | 3.46%
21 | Loans and advances | 41.76% | 19.62% | 0.00% | 2.05% | 12.78% | 2.91%
22 | Debt securities, including UoP | 30.00% | 18.03% | 0.00% | 2.51% | 14.61% | 0.54%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 96.07% | 1.03% | 1.03% | 0.00% | 0.00% | 22.16%
25 | of which loans collateralised by residential immovable property | 96.66% | 1.03% | 1.03% | 0.00% | 0.00% | 22.01%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.15%
28 | Local governments financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 1.52%
29 | Housing financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50%
30 | Other local government financing | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
32 | Total GAR assets | 22.84% | 0.91% | 0.23% | 0.07% | 0.45% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
160 Group management report

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 77.48% | 2.81% | 0.11% | 0.59% | 1.10%
2 | Financial undertakings | 8.55% | 0.29% | 0.00% | 0.02% | 0.04%
3 | Credit institutions | 8.10% | 0.27% | 0.00% | 0.01% | 0.04%
4 | Loans and advances | 4.17% | 0.25% | 0.00% | 0.00% | 0.02%
5 | Debt securities, including UoP | 10.26% | 0.28% | 0.00% | 0.02% | 0.05%
6 | Equity instruments | 19.34% | 0.29% |  | 0.04% | 0.02%
7 | Other financial corporations | 24.78% | 1.03% | 0.00% | 0.22% | 0.03%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 40.81% | 21.13% | 0.00% | 4.67% | 8.64%
21 | Loans and advances | 41.96% | 21.49% | 0.00% | 5.00% | 7.35%
22 | Debt securities, including UoP | 32.89% | 18.69% | 0.00% | 2.36% | 17.50%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 98.66% | 0.15% | 0.15% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 99.33% | 0.15% | 0.15% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.04% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.11% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.10% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.58% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 22.13% | 0.80% | 0.03% | 0.17% | 0.31%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 161

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.13% | 0.02% | 0.00% | 0.00%
2 | Financial undertakings | 1.01% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 1.04% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.57% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 1.23% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 4.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.29% | 0.19% | 0.00% | 0.00%
21 | Loans and advances | 0.33% | 0.22% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.04% | 0.01% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
162 Group management report

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.03% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 163

|  | at | au | av | aw
| 31.12.2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.04% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.01% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.32% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.35% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.09% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.01% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
164 Group management report

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 165

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
166 Group management report

|  | bf | bg | bh | bi | bj | bk
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 77.65% | 2.83% | 0.11% | 0.59% | 1.10% | 28.57%
2 | Financial undertakings | 9.56% | 0.29% | 0.00% | 0.02% | 0.04% | 2.76%
3 | Credit institutions | 9.13% | 0.27% | 0.00% | 0.01% | 0.04% | 2.68%
4 | Loans and advances | 4.74% | 0.25% | 0.00% | 0.00% | 0.02% | 1.05%
5 | Debt securities, including UoP | 11.49% | 0.28% | 0.00% | 0.02% | 0.05% | 1.57%
6 | Equity instruments | 23.33% | 0.29% |  | 0.04% | 0.02% | 0.06%
7 | Other financial corporations | 24.79% | 1.03% | 0.00% | 0.22% | 0.03% | 0.07%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 41.43% | 21.32% | 0.00% | 4.67% | 8.64% | 3.61%
21 | Loans and advances | 42.66% | 21.71% | 0.00% | 5.00% | 7.35% | 3.15%
22 | Debt securities, including UoP | 33.02% | 18.69% | 0.00% | 2.36% | 17.50% | 0.46%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 98.66% | 0.15% | 0.15% | 0.00% | 0.00% | 20.70%
25 | of which loans collateralised by residential immovable property | 99.33% | 0.15% | 0.15% | 0.00% | 0.00% | 20.55%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.15%
28 | Local governments financing | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50%
29 | Housing financing | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 1.48%
30 | Other local government financing | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
32 | Total GAR assets | 22.18% | 0.81% | 0.03% | 0.17% | 0.31% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 167
GAR KPI stock (turnover)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 75.28% | 2.04% | 0.76% | 0.27% | 0.79%
2 | Financial undertakings | 4.13% | 0.14% | 0.00% | 0.01% | 0.01%
3 | Credit institutions | 3.60% | 0.13% | 0.00% | 0.01% | 0.01%
4 | Loans and advances | 0.85% | 0.05% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 5.94% | 0.20% | 0.00% | 0.01% | 0.02%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 7.82% | 0.17% | 0.00% | 0.00% | 0.01%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.01% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 33.11% | 11.04% | 0.00% | 2.34% | 6.85%
21 | Loans and advances | 35.98% | 11.62% | 0.00% | 2.53% | 7.14%
22 | Debt securities, including UoP | 17.72% | 7.92% | 0.00% | 1.31% | 5.30%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 96.06% | 1.03% | 1.03% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 96.66% | 1.03% | 1.03% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.00% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.59% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 22.56% | 0.61% | 0.23% | 0.08% | 0.24%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
168 Group management report

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.08% | 0.04% | 0.00% | 0.00%
2 | Financial undertakings | 0.77% | 0.45% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 6.17% | 3.58% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.01% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.01% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 169

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.01% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
170 Group management report

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.08% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.09% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.72% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.63% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.65% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.54% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property |  | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans |  | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 171

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.01% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.02% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
172 Group management report

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.04% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.37% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.44% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.01% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.01% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 173

|  | aa | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 75.48% | 2.09% | 0.76% | 0.27% | 0.79% | 29.98%
2 | Financial undertakings | 4.99% | 0.59% | 0.00% | 0.01% | 0.01% | 2.84%
3 | Credit institutions | 3.60% | 0.13% | 0.00% | 0.01% | 0.01% | 2.49%
4 | Loans and advances | 0.85% | 0.05% | 0.00% | 0.00% | 0.00% | 1.13%
5 | Debt securities, including UoP | 5.94% | 0.20% | 0.00% | 0.01% | 0.02% | 1.34%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.01%
7 | Other financial corporations | 14.71% | 3.75% | 0.00% | 0.00% | 0.01% | 0.36%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.26%
17 | Loans and advances | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.26%
20 | Non-financial undertakings | 34.13% | 11.04% | 0.00% | 2.34% | 6.85% | 3.46%
21 | Loans and advances | 37.08% | 11.62% | 0.00% | 2.53% | 7.14% | 2.91%
22 | Debt securities, including UoP | 18.31% | 7.92% | 0.00% | 1.31% | 5.30% | 0.54%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 96.07% | 1.03% | 1.03% | 0.00% | 0.00% | 22.16%
25 | of which loans collateralised by residential immovable property | 96.66% | 1.03% | 1.03% | 0.00% | 0.00% | 22.01%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.15%
28 | Local governments financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 1.52%
29 | Housing financing | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50%
30 | Other local government financing | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
32 | Total GAR assets | 22.62% | 0.63% | 0.23% | 0.08% | 0.24% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
174 Group management report

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 76.40% | 1.38% | 0.11% | 0.47% | 0.63%
2 | Financial undertakings | 8.28% | 0.28% | 0.00% | 0.05% | 0.03%
3 | Credit institutions | 7.81% | 0.23% | 0.00% | 0.03% | 0.04%
4 | Loans and advances | 3.99% | 0.23% | 0.00% | 0.00% | 0.04%
5 | Debt securities, including UoP | 9.93% | 0.23% | 0.00% | 0.03% | 0.03%
6 | Equity instruments | 18.25% | 0.24% |  | 0.23% | 0.01%
7 | Other financial corporations | 25.32% | 2.01% | 0.00% | 1.05% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 32.48% | 9.85% | 0.00% | 3.69% | 4.94%
21 | Loans and advances | 34.04% | 9.90% | 0.00% | 4.05% | 4.39%
22 | Debt securities, including UoP | 21.80% | 9.49% | 0.00% | 1.22% | 8.71%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 98.66% | 0.15% | 0.15% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 99.33% | 0.15% | 0.15% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.04% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.11% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.10% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.58% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 21.83% | 0.39% | 0.03% | 0.13% | 0.18%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 175

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.02% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.02% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
176 Group management report

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.01% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 177

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.07% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.56% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.63% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.09% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
178 Group management report

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.01% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.06% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.06% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.04% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 179

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.05% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.42% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.48% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.03% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
180 Group management report

|  | bf | bg | bh | bi | bj | bk
| 31.12.2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 76.53% | 1.38% | 0.11% | 0.47% | 0.63% | 28.57%
2 | Financial undertakings | 8.28% | 0.28% | 0.00% | 0.05% | 0.03% | 2.76%
3 | Credit institutions | 7.81% | 0.23% | 0.00% | 0.03% | 0.04% | 2.68%
4 | Loans and advances | 3.99% | 0.23% | 0.00% | 0.00% | 0.04% | 1.05%
5 | Debt securities, including UoP | 9.93% | 0.23% | 0.00% | 0.03% | 0.03% | 1.57%
6 | Equity instruments | 18.25% | 0.24% |  | 0.23% | 0.01% | 0.06%
7 | Other financial corporations | 25.32% | 2.01% | 0.00% | 1.05% | 0.00% | 0.07%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 33.55% | 9.85% | 0.00% | 3.69% | 4.94% | 3.61%
21 | Loans and advances | 35.23% | 9.90% | 0.00% | 4.05% | 4.39% | 3.15%
22 | Debt securities, including UoP | 21.96% | 9.49% | 0.00% | 1.22% | 8.71% | 0.46%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 98.66% | 0.15% | 0.15% | 0.00% | 0.00% | 20.70%
25 | of which loans collateralised by residential immovable property | 99.33% | 0.15% | 0.15% | 0.00% | 0.00% | 20.55%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 7.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.15%
28 | Local governments financing | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50%
29 | Housing financing | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 1.48%
30 | Other local government financing | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02%
32 | Total GAR assets | 21.86% | 0.39% | 0.03% | 0.13% | 0.18% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 181
Template 4 – GAR KPI flow

1. Institution shall dislcose in this template the GAR KPIs on flow of loans calculated (new loans on a net basis) based on the data disclosed in template 1, on covered assets, and by applying the formulas proposed in this template
2. Credit institutions shall duplicate this template for revenue based and CapEx based disclosures

GAR KPI flow (CapEX)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 61.00% | 4.48% | 1.25% | 0.01% | 2.04%
2 | Financial undertakings | 5.86% | 0.29% | 0.00% | 0.01% | 0.02%
3 | Credit institutions | 3.37% | 0.31% | 0.00% | 0.01% | 0.03%
4 | Loans and advances | 1.53% | 0.07% | 0.00% | 0.01% | 0.02%
5 | Debt securities, including UoP | 5.79% | 0.61% | 0.00% | 0.02% | 0.03%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 59.44% | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 52.76% | 23.91% | 0.00% | 0.05% | 15.25%
21 | Loans and advances | 53.89% | 24.52% | 0.00% | 0.05% | 13.70%
22 | Debt securities, including UoP | 12.84% | 2.34% | 0.00% | 0.00% | 69.83%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 96.07% | 2.26% | 2.26% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 98.14% | 2.31% | 2.31% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 4.62% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 9.61% | 0.71% | 0.20% | 0.00% | 0.32%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
182 Group management report

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.39% | 0.08% | 0.00% | 0.00%
2 | Financial undertakings | 2.66% | 0.56% | 0.00% | 0.00%
3 | Credit institutions | 0.03% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.07% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 59.44% | 12.54% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.11% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.12% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.01% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.06% | 0.01% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 183

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
184 Group management report

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.26% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 1.68% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 38.04% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.22% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.21% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.68% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.04% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 185

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
186 Group management report

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 187

|  | aa | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 61.64% | 4.56% | 1.25% | 0.01% | 2.04% | 15.76%
2 | Financial undertakings | 10.20% | 0.85% | 0.00% | 0.01% | 0.02% | 2.15%
3 | Credit institutions | 3.40% | 0.31% | 0.00% | 0.01% | 0.03% | 2.06%
4 | Loans and advances | 1.53% | 0.07% | 0.00% | 0.01% | 0.02% | 1.17%
5 | Debt securities, including UoP | 5.86% | 0.61% | 0.00% | 0.02% | 0.03% | 0.89%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
7 | Other financial corporations | 156.92% | 12.54% | 0.00% | 0.00% | 0.00% | 0.10%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 53.09% | 23.91% | 0.00% | 0.05% | 15.25% | 2.10%
21 | Loans and advances | 54.21% | 24.52% | 0.00% | 0.05% | 13.70% | 2.05%
22 | Debt securities, including UoP | 13.52% | 2.34% | 0.00% | 0.00% | 69.83% | 0.06%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 96.08% | 2.26% | 2.26% | 0.00% | 0.00% | 8.72%
25 | of which loans collateralised by residential immovable property | 98.14% | 2.31% | 2.31% | 0.00% | 0.00% | 8.53%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 5.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19%
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.78%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.78%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 9.72% | 0.72% | 0.20% | 0.00% | 0.32% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
188 Group management report

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 50.88% | 5.00% | 0.15% | 0.67% | 1.91%
2 | Financial undertakings | 7.04% | 0.40% | 0.00% | 0.02% | 0.04%
3 | Credit institutions | 7.17% | 0.41% | 0.00% | 0.02% | 0.04%
4 | Loans and advances | 4.35% | 0.29% | 0.00% | 0.00% | 0.03%
5 | Debt securities, including UoP | 9.48% | 0.50% | 0.00% | 0.04% | 0.05%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 0.28% | 0.14% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 53.02% | 23.43% | 0.00% | 3.36% | 9.64%
21 | Loans and advances | 54.20% | 24.03% | 0.00% | 3.46% | 8.17%
22 | Debt securities, including UoP | 11.40% | 2.18% | 0.00% | 0.00% | 61.64%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 93.81% | 0.36% | 0.36% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 97.38% | 0.37% | 0.37% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 11.92% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 6.58% | 0.62% | 0.02% | 0.09% | 0.25%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 189

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.27% | 0.06% | 0.00% | 0.00%
2 | Financial undertakings | 0.93% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.95% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.23% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 1.53% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.56% | 0.32% | 0.00% | 0.00%
21 | Loans and advances | 0.58% | 0.33% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.03% | 0.01% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
190 Group management report

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 191

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.10% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.50% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.49% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.60% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.01% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
192 Group management report

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 193

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
194 Group management report

|  | bf | bg | bh | bi | bj | bk
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 51.24% | 4.90% | 0.15% | 0.67% | 1.91% | 12.93%
2 | Financial undertakings | 7.97% | 0.40% | 0.00% | 0.02% | 0.04% | 2.18%
3 | Credit institutions | 8.12% | 0.41% | 0.00% | 0.02% | 0.04% | 2.14%
4 | Loans and advances | 4.58% | 0.29% | 0.00% | 0.00% | 0.03% | 0.96%
5 | Debt securities, including UoP | 11.02% | 0.51% | 0.00% | 0.04% | 0.05% | 1.18%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
7 | Other financial corporations | 0.28% | 0.14% | 0.00% | 0.00% | 0.00% | 0.04%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 54.07% | 23.75% | 0.00% | 3.36% | 9.64% | 2.55%
21 | Loans and advances | 55.27% | 24.36% | 0.00% | 3.46% | 8.17% | 2.48%
22 | Debt securities, including UoP | 12.00% | 2.18% | 0.00% | 0.00% | 61.64% | 0.07%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 93.81% | 0.36% | 0.36% | 0.00% | 0.00% | 5.40%
25 | of which loans collateralised by residential immovable property | 97.38% | 0.37% | 0.37% | 0.00% | 0.00% | 5.18%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 11.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23%
28 | Local governments financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 2.80%
29 | Housing financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 2.80%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 6.62% | 0.63% | 0.02% | 0.09% | 0.25% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 195
GAR KPI flow (turnover)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 60.38% | 2.99% | 1.25% | 0.00% | 1.23%
2 | Financial undertakings | 5.83% | 0.27% | 0.00% | 0.01% | 0.01%
3 | Credit institutions | 3.35% | 0.29% | 0.00% | 0.01% | 0.01%
4 | Loans and advances | 1.51% | 0.06% | 0.00% | 0.00% | 0.01%
5 | Debt securities, including UoP | 5.75% | 0.58% | 0.00% | 0.01% | 0.02%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 59.44% | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 48.13% | 12.76% | 0.00% | 0.03% | 9.21%
21 | Loans and advances | 49.14% | 13.07% | 0.00% | 0.03% | 9.41%
22 | Debt securities, including UoP | 12.71% | 1.99% | 0.00% | 0.00% | 1.99%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 96.07% | 2.26% | 2.26% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 98.14% | 2.31% | 2.31% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 4.62% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 9.52% | 0.47% | 0.20% | 0.00% | 0.19%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
196 Group management report

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.37% | 0.21% | 0.00% | 0.00%
2 | Financial undertakings | 2.63% | 1.53% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 59.44% | 34.53% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.02% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.02% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.01% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.06% | 0.03% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 197

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
198 Group management report

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.10% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.31% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 6.89% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.41% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.42% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 199

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
200 Group management report

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.21% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 1.54% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 1.59% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.03% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 201

|  | aa | ab | ac | ad | ae | af
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 61.05% | 3.20% | 1.25% | 0.00% | 1.23% | 15.76%
2 | Financial undertakings | 8.77% | 1.80% | 0.00% | 0.01% | 0.01% | 2.15%
3 | Credit institutions | 3.35% | 0.29% | 0.00% | 0.01% | 0.01% | 2.06%
4 | Loans and advances | 1.51% | 0.06% | 0.00% | 0.00% | 0.01% | 1.17%
5 | Debt securities, including UoP | 5.75% | 0.58% | 0.00% | 0.01% | 0.02% | 0.89%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
7 | Other financial corporations | 125.77% | 34.53% | 0.00% | 0.00% | 0.00% | 0.10%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 50.11% | 12.76% | 0.00% | 0.03% | 9.21% | 2.10%
21 | Loans and advances | 51.17% | 13.07% | 0.00% | 0.03% | 9.41% | 2.05%
22 | Debt securities, including UoP | 12.71% | 1.99% | 0.00% | 0.00% | 1.99% | 0.06%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 96.08% | 2.26% | 2.26% | 0.00% | 0.00% | 8.72%
25 | of which loans collateralised by residential immovable property | 98.14% | 2.31% | 2.31% | 0.00% | 0.00% | 8.53%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 5.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19%
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.78%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.78%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 9.62% | 0.50% | 0.20% | 0.00% | 0.19% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
202 Group management report

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 48.67% | 2.41% | 0.15% | 0.68% | 1.35%
2 | Financial undertakings | 6.77% | 0.36% | 0.00% | 0.03% | 0.04%
3 | Credit institutions | 6.89% | 0.37% | 0.00% | 0.03% | 0.04%
4 | Loans and advances | 4.22% | 0.26% | 0.00% | 0.00% | 0.05%
5 | Debt securities, including UoP | 9.08% | 0.46% | 0.00% | 0.06% | 0.03%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
7 | Other financial corporations | 0.28% | 0.15% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
20 | Non-financial undertakings | 42.06% | 11.17% | 0.00% | 3.44% | 6.83%
21 | Loans and advances | 42.95% | 11.44% | 0.00% | 3.54% | 6.98%
22 | Debt securities, including UoP | 10.77% | 1.45% | 0.00% | 0.00% | 1.45%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00%
24 | Households | 93.81% | 0.36% | 0.36% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 97.38% | 0.37% | 0.37% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 11.92% | 0.00% | 0.00% | 0.00% | 0.00%
28 | Local governments financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 6.29% | 0.31% | 0.02% | 0.09% | 0.17%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 203

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.01% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.06% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.06% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
204 Group management report

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 205

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.25% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 1.26% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 1.29% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households | 0.00% | 0.00% | 0.00% | 0.00%
25 | of which loans collateralised by residential immovable property | 0.00% | 0.00% | 0.00% | 0.00%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.03% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
206 Group management report

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.00% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 207

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 0.19% | 0.00% | 0.00% | 0.00%
2 | Financial undertakings | 0.00% | 0.00% | 0.00% | 0.00%
3 | Credit institutions | 0.00% | 0.00% | 0.00% | 0.00%
4 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
5 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00%
7 | Other financial corporations | 0.00% | 0.00% | 0.00% | 0.00%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00%
20 | Non-financial undertakings | 0.94% | 0.00% | 0.00% | 0.00%
21 | Loans and advances | 0.97% | 0.00% | 0.00% | 0.00%
22 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00%
24 | Households |  |  |  |
25 | of which loans collateralised by residential immovable property |  |  |  |
26 | of which building renovation loans |  |  |  |
27 | of which motor vehicle loans |  |  |  |
28 | Local governments financing | 0.00% | 0.00% | 0.00% | 0.00%
29 | Housing financing | 0.00% | 0.00% | 0.00% | 0.00%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 0.02% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
208 Group management report

|  | bf | bg | bh | bi | bj | bk
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | Proportion of total assets covered
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total covered assets in the denominator) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
| GAR - Covered assets in both numerator and denominator |  |  |  |  |  |
1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 49.12% | 2.41% | 0.15% | 0.68% | 1.35% | 12.93%
2 | Financial undertakings | 6.77% | 0.36% | 0.00% | 0.03% | 0.04% | 2.18%
3 | Credit institutions | 6.89% | 0.37% | 0.00% | 0.03% | 0.04% | 2.14%
4 | Loans and advances | 4.22% | 0.26% | 0.00% | 0.00% | 0.05% | 0.96%
5 | Debt securities, including UoP | 9.08% | 0.46% | 0.00% | 0.06% | 0.03% | 1.18%
6 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
7 | Other financial corporations | 0.28% | 0.15% | 0.00% | 0.00% | 0.00% | 0.04%
8 | of which investment firms | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
9 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
10 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
11 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
12 | of which management companies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
13 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
14 | Debt securities, including UoP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
15 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
16 | of which insurance undertakings | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
17 | Loans and advances | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
18 | Debt securities, including UoP | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
19 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
20 | Non-financial undertakings | 44.32% | 11.17% | 0.00% | 3.44% | 6.83% | 2.55%
21 | Loans and advances | 45.27% | 11.44% | 0.00% | 3.54% | 6.98% | 2.48%
22 | Debt securities, including UoP | 10.77% | 1.45% | 0.00% | 0.00% | 1.45% | 0.07%
23 | Equity instruments | 0.00% | 0.00% |  | 0.00% | 0.00% | 0.00%
24 | Households | 93.81% | 0.36% | 0.36% | 0.00% | 0.00% | 5.40%
25 | of which loans collateralised by residential immovable property | 97.38% | 0.37% | 0.37% | 0.00% | 0.00% | 5.18%
26 | of which building renovation loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
27 | of which motor vehicle loans | 11.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23%
28 | Local governments financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 2.80%
29 | Housing financing | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 2.80%
30 | Other local government financing | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%
32 | Total GAR assets | 6.35% | 0.31% | 0.02% | 0.09% | 0.17% | 100.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 209
Template 5 – GAR KPI off-balance-sheet exposures

1. Institution shall dislcose in this template the KPIs for off-balance sheet exposures (financial guarantees and assets under management) calculated based on the data disclosed in template 1, on covered assets, and by applying the formulas proposed in this template
2. Institutions shall duplicate this template to disclose stock and flow KPIs for off-balance sheet exposures

GAR KPI off-balance-sheet exposures (CapEX)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.14% | 2.01% | 0.00% | 0.36% | 0.89%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.02% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.03% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
210 Group management report

|  | aa | ab | ac | ad | ae
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.19% | 2.01% | 0.00% | 0.36% | 0.89%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.59% | 2.09% | 0.00% | 0.53% | 1.07%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.04% | 0.01% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.01% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.09% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 211

|  | bf | bg | bh | bi | bj
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.73% | 2.10% | 0.00% | 0.53% | 1.07%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

GAR KPI off-balance-sheet exposures (turnover)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.79% | 0.95% | 0.00% | 0.23% | 0.31%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.05% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.03% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
212 Group management report

|  | aa | ab | ac | ad | ae
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.87% | 0.95% | 0.00% | 0.23% | 0.31%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 2.32% | 0.93% | 0.00% | 0.33% | 0.45%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.14% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 213

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.02% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bf | bg | bh | bi | bj
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 2.49% | 0.93% | 0.00% | 0.33% | 0.45%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

GAR KPI off-balance-sheet exposures (Flow CapEx)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.54% | 2.75% | 0.00% | 0.32% | 1.84%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.01% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
214 Group management report

|  | n | o | p | q
| 31/12/2025 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.02% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | aa | ab | ac | ad | ae
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 3.57% | 2.75% | 0.00% | 0.32% | 1.84%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.59% | 0.64% | 0.00% | 0.02% | 0.37%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.06% | 0.02% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 215

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.07% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bf | bg | bh | bi | bj
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.73% | 0.66% | 0.00% | 0.02% | 0.37%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

GAR KPI off-balance-sheet exposures (Flow turnover)

|  | a | b | c | d | e
| 31/12/2025 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.33% | 1.09% | 0.00% | 0.21% | 0.53%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
216 Group management report

|  | f | g | h | i
| 31/12/2025 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | j | k | l | m
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | n | o | p | q
| 31/12/2025 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.04% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | r | s | t | u
| 31/12/2025 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | v | w | x | z
| 31/12/2025 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | aa | ab | ac | ad | ae
| 31/12/2025 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.37% | 1.09% | 0.00% | 0.21% | 0.53%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 217

|  | ag | ah | ai | aj | ak
| 31/12/2024 | Climate Change Mitigation (CCM)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.21% | 0.26% | 0.00% | 0.00% | 0.17%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

|  | al | am | an | ao
| 31/12/2024 | Climate Change Adaptation (CCA)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ap | aq | ar | as
| 31/12/2024 | Water and marine resources (WTR)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | at | au | av | aw
| 31/12/2024 | Circular economy (CE)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.11% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | ax | ay | az | ba
| 31/12/2024 | Pollution (PPC)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.05% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

|  | bb | bc | bd | be
| 31/12/2024 | Biodiversity and Ecosystems (BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 0.00% | 0.00% | 0.00% | 0.00%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
218 Group management report

|  | bf | bg | bh | bi | bj
| 31/12/2024 | TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
|  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible)
|  |  | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned)
| % (compared to total eligible off-balance sheet assets) |  |  | Of which Use of Proceeds | Of which transitional | Of which enabling
1 | Financial guarantees (FinGuar KPI) | 1.37% | 0.26% | 0.00% | 0.00% | 0.17%
2 | Assets under management (AuM KPI) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00%

Additional mandatory information
Exposures to taxonomy (non-)eligible and taxonomy (non-)aligned economic activities/covered
assets for nuclear and gas economic activities (CapEx) in accordance with Annex XII
Disclosure template 1 activities in the areas of nuclear energy and fossil gas - GAR stock

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | YES
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | YES
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | YES
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | YES
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | YES

Disclosure template 1 activities in the areas of nuclear energy and fossil gas - GAR flow

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NEIN
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NEIN
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | JA
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | JA
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | JA
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | NEIN

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 219
Disclosure template 1 activities in the areas of nuclear energy and fossil gas - KPI financial
guarantees stock

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | YES
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | YES
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | YES
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | YES
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | YES

Disclosure template 1 activities in the areas of nuclear energy and fossil gas - KPI financial
guarantees flow

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | YES
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | YES
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | YES
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | YES
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | NO

Disclosure template 1 activities in the areas of nuclear energy and fossil gas - KPI assets under
management stock

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NO
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | NO
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | NO
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | NO
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | NO

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
220 Group management report
Disclosure template 1 activities in the areas of nuclear energy and fossil gas - KPI assets under
management flow

| Nuclear energy related activities | 31/12/2025
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NO
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | NO
| Fossil gas related activities |
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | NO
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | NO
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | NO

D isclosure template 2 taxonomy-aligned economic activities - GAR stock - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 11,925,156 | 0.01% | 11,925,156 | 0.01% | 0.00% | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 3,688,441 | 0.00% | 3,688,441 | 0.00% | 0.00% | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 1,212,368,982 | 0.89% | 1,206,069,325 | 0.89% | 6,299,657 | 0.00%
8 | Total applicable KPI | 1,227,982,579 | 0.91% | 1,221,682,922 | 0.90% | 6,299,657 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 61,416,991 | 0.05% | 61,416,991 | 0.05% | 0.00% | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 287,953 | 0.00% | 287,953 | 0.00% | 0.00% | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 15,773,510 | 0.01% | 15,773,510 | 0.01% | 0.00% | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 994,346,402 | 0.75% | 985,140,919 | 0.74% | 9,205,482 | 0.01%
8 | Total applicable KPI | 1,071,824,856 | 0.81% | 1,062,619,374 | 0.80% | 9,205,482 | 0.01%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 221
Disclosure template 2 taxonomy-aligned economic activities - GAR stock - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 49,886,404 | 0.04% | 49,886,404 | 0.04% | 0.00% | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 798,247,988 | 0.59% | 780,866,878 | 0.58% | 17,381,110 | 0.01%
8 | Total applicable KPI | 848,134,392 | 0.63% | 830,753,282 | 0.61% | 17,381,110 | 0.01%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation |
|  |  | % |  | % |  | % |
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00% |
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00% |
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 36,036,059 | 0.03% | 36,036,059 | 0.03% | 0.00% | 0.00% |
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00% |
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 5,555,104 | 0.00% | 5,555,104 | 0.00% | 0.00% | 0.00% |
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0.00% | 0.00% |
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 480,858,456 | 0.36% | 480,810,231 | 0.36% | 48,226 | 0.00% |
8 | Total applicable KPI | 522,449,619 | 0.39% | 522,401,393 | 0.39% | 48,226 | 0.00% |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
222 Group management report
Disclosure template 2 taxonomy-aligned economic activities - GAR flow - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 380,060,330 | 0.72% | 373,726,940 | 0.71% | 6,333,390 | 0.01%
8 | Total applicable KPI | 380,060,330 | 0.72% | 373,726,940 | 0.71% | 6,333,390 | 0.01%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 257 | 0.00% | 257 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 16 | 0.00% | 16 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 3,526,765 | 0.01% | 3,526,765 | 0.01% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 320,271,096 | 0.63% | 316,081,053 | 0.62% | 4,190,043 | 0.01%
8 | Total applicable KPI | 323,798,134 | 0.63% | 319,608,091 | 0.62% | 4,190,043 | 0.01%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 223
Disclosure template 2 taxonomy-aligned economic activities - GAR flow - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 266,878,487 | 0.50% | 249,435,303 | 0.47% | 17,443,184 | 0.03%
8 | Total applicable KPI | 266,878,487 | 0.50% | 249,435,303 | 0.47% | 17,443,184 | 0.03%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 112 | 0.00% | 112 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,930,058 | 0.00% | 1,930,058 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 157,490,556 | 0.31% | 157,463,514 | 0.31% | 27,042 | 0.00%
8 | Total applicable KPI | 159,420,727 | 0.31% | 159,393,685 | 0.31% | 27,042 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
224 Group management report
Disclosure template 2 taxonomy-aligned economic activities - KPI financial guarantees stock -
CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 911,297 | 0.01% | 911,297 | 0.01% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 6,285,721 | 0.06% | 6,285,721 | 0.06% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 194,840,413 | 1.94% | 194,840,413 | 1.94% | 0 | 0.00%
8 | Total applicable KPI | 202,037,431 | 2.01% | 202,037,431 | 2.01% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 17,329,028 | 0.19% | 17,329,028 | 0.19% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 838,042 | 0.01% | 838,042 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 4,802,345 | 0.05% | 4,802,345 | 0.05% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 171,665,934 | 1.86% | 170,481,884 | 1.84% | 1,184,050 | 0.01%
8 | Total applicable KPI | 194,635,348 | 2.10% | 193,451,298 | 2.09% | 1,184,050 | 0.01%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 225
Disclosure template 2 taxonomy-aligned economic activities - KPI financial guarantees stock -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 12,525,717 | 0.12% | 12,525,717 | 0.12% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 83,309,862 | 0.83% | 83,309,862 | 0.83% | 0 | 0.00%
8 | Total applicable KPI | 95,835,579 | 0.95% | 95,835,579 | 0.95% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 8,212,676 | 0.09% | 8,212,676 | 0.09% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 2,009,692 | 0.02% | 2,009,692 | 0.02% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 75,524,104 | 0.82% | 75,524,104 | 0.82% | 0 | 0.00%
8 | Total applicable KPI | 85,746,472 | 0.93% | 85,746,472 | 0.93% | 0 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
226 Group management report
Disclosure template 2 taxonomy-aligned economic activities - KPI financial guarantees flow - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 65,236 | 0.00% | 65,236 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 87,307 | 0.00% | 87,307 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 78,140,224 | 2.74% | 78,140,224 | 2.74% | 0 | 0.00%
8 | Total applicable KPI | 78,292,767 | 2.75% | 78,292,767 | 2.75% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 318,858 | 0.01% | 318,858 | 0.01% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 19,929 | 0.00% | 19,929 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 2,488,019 | 0.05% | 2,488,019 | 0.05% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 27,412,998 | 0.60% | 26,298,598 | 0.58% | 1,114,400 | 0.02%
8 | Total applicable KPI | 30,239,803 | 0.66% | 29,125,403 | 0.64% | 1,114,400 | 0.02%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 227
Disclosure template 2 taxonomy-aligned economic activities - KPI financial guarantees flow -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 370,450 | 0.01% | 370,450 | 0.01% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 30,794,955 | 1.08% | 30,794,955 | 1.08% | 0 | 0.00%
8 | Total applicable KPI | 31,165,405 | 1.09% | 31,165,405 | 1.09% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaptation
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 139,500 | 0.00% | 139,500 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 994,015 | 0.02% | 994,015 | 0.02% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 10,536,887 | 0.23% | 10,536,887 | 0.23% | 0 | 0.00%
8 | Total applicable KPI | 11,670,402 | 0.26% | 11,670,402 | 0.26% | 0 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
228 Group management report
Disclosure template 3 taxonomy-aligned economic activities - GAR stock - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 11,925,156 | 0.97% | 11,925,156 | 0.97% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 3,688,441 | 0.30% | 3,688,441 | 0.30% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 1,212,368,982 | 98.73% | 1,206,069,325 | 98.22% | 6,299,657 | 0.51%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 1,227,982,579 | 100.00% | 1,221,682,922 | 99.49% | 6,299,657 | 0.51%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 61,416,991 | 5.73% | 61,416,991 | 5.73% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 287,953 | 0.03% | 287,953 | 0.03% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 15,773,510 | 1.47% | 15,773,510 | 1.47% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 994,346,402 | 92.77% | 985,140,919 | 91.91% | 9,205,482 | 0.86%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 1,071,824,856 | 100.00% | 1,062,619,374 | 99.14% | 9,205,482 | 0.86%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 229
Disclosure template 3 taxonomy-aligned economic activities - GAR stock - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 49,886,404 | 5.88% | 49,886,404 | 5.88% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 798,247,988 | 94.12% | 780,866,878 | 92.07% | 17,381,110 | 2.05%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 848,134,392 | 100% | 100.00% | 830,753,282 | 97.95% | 17,381,110 | 2.05%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 36,036,059 | 6.90% | 36,036,059 | 6.90% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 5,555,104 | 1.06% | 5,555,104 | 1.06% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 480,858,456 | 92.04% | 480,810,231 | 92.03% | 48,226 | 0.01%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 522,449,619 | 100% | 100.00% | 522,401,393 | 99.99% | 48,226 | 0.01%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
230 Group management report
Disclosure template 3 taxonomy-aligned economic activities - GAR flow - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 380,060,330 | 100.00% | 373,726,940 | 98.33% | 6,333,390 | 1.67%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 380,060,330 | 100% | 100.00% | 373,726,940 | 98.33% | 6,333,390 | 1.67%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 257 | 0.00% | 257 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 16 | 0.00% | 16 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 3,526,765 | 1.09% | 3,526,765 | 1.09% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 320,271,096 | 98.91% | 316,081,053 | 97.62% | 4,190,043 | 1.29%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 323,798,134 | 100% | 100.00% | 319,608,091 | 98.71% | 4,190,043 | 1.29%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 231
Disclosure template 3 taxonomy-aligned economic activities - GAR flow - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 266,878,487 | 100.00% | 249,435,303 | 93.46% | 17,443,184 | 6.54%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 266,878,487 | 100% | 100.00% | 249,435,303 | 93.46% | 17,443,184 | 6.54%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 112 | 0.00% | 112 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 1,930,058 | 1.21% | 1,930,058 | 1.21% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 157,490,556 | 98.79% | 157,463,514 | 98.77% | 27,042 | 0.02%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 159,420,727 | 100% | 100.00% | 159,393,685 | 99.98% | 27,042 | 0.02%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
232 Group management report
Disclosure template 3 taxonomy-aligned economic activities - KPI financial guarantees stock -
CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 911,297 | 0.45% | 911,297 | 0.45% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 6,285,721 | 3.11% | 6,285,721 | 3.11% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 194,840,413 | 96.44% | 194,840,413 | 96.44% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 202,037,431 | 100% | 100.00% | 202,037,431 | 100.00% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 17,329,028 | 8.90% | 17,329,028 | 8.90% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 838,042 | 0.43% | 838,042 | 0.43% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 4,802,345 | 2.47% | 4,802,345 | 2.47% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 171,665,934 | 88.20% | 170,481,884 | 87.59% | 1,184,050 | 0.61%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 194,635,348 | 100% | 100.00% | 193,451,298 | 99.39% | 1,184,050 | 0.61%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 233
Disclosure template 3 taxonomy-aligned economic activities - KPI financial guarantees stock -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 12,525,717 | 13.07% | 12,525,717 | 13.07% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 83,309,862 | 86.93% | 83,309,862 | 86.93% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 95,835,579 | 100% | 100.00% | 95,835,579 | 100.00% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 8,212,676 | 9.58% | 8,212,676 | 9.58% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 2,009,692 | 2.34% | 2,009,692 | 2.34% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 75,524,104 | 88.08% | 75,524,104 | 88.08% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 85,746,472 | 100% | 100.00% | 85,746,472 | 100.00% | 0 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
234 Group management report
Disclosure template 3 taxonomy-aligned economic activities - KPI financial guarantees flow - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 65,236 | 0.08% | 65,236 | 0.08% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 87,307 | 0.11% | 87,307 | 0.11% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 78,140,224 | 99.81% | 78,140,224 | 99.81% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 78,292,767 | 100% | 100.00% | 78,292,767 | 100.00% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 318,858 | 1.05% | 318,858 | 1.05% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 19,929 | 0.07% | 19,929 | 0.07% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 2,488,019 | 8.23% | 2,488,019 | 8.23% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 27,412,998 | 90.65% | 26,298,598 | 86.97% | 1,114,400 | 3.69%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 30,239,803 | 100% | 100.00% | 29,125,403 | 96.31% | 1,114,400 | 3.69%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 235
Disclosure template 3 taxonomy-aligned economic activities - KPI financial guarantees flow -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 370,450 | 1.19% | 370,450 | 1.19% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 30,794,955 | 98.81% | 30,794,955 | 98.81% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 31,165,405 | 100% | 100.00% | 31,165,405 | 100.00% | 0 | 0.00%

| 31/12/2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 139,500 | 1.20% | 139,500 | 1.20% | 0 | 0.00%
4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 994,015 | 8.52% | 994,015 | 8.52% | 0 | 0.00%
6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 10,536,887 | 90.29% | 10,536,887 | 90.29% | 0 | 0.00%
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 11,670,402 | 100% | 100.00% | 11,670,402 | 100.00% | 0 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
236 Group management report
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - GAR stock -
CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 711,753 | 0.00% | 711,753 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 33,865,351 | 0.02% | 33,865,351 | 0.02% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 6,059,962 | 0.00% | 6,059,962 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 29,664,019,285 | 21.87% | 29,633,486,846 | 21.85% | 30,532,439 | 0.02%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 29,704,656,351 | 21.90% | 29,674,123,912 | 21.88% | 30,532,439 | 0.02%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 9,365,822 | 0.01% | 9,365,822 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,480,252 | 0.00% | 1,480,252 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 28,306,051,599 | 21.36% | 28,264,385,602 | 21.32% | 41,665,996 | 0.03%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 28,316,897,673 | 21.36% | 28,275,231,676 | 21.33% | 41,665,996 | 0.03%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 237
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - GAR stock -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 427,052 | 0.00% | 427,052 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 9,439,462 | 0.01% | 9,439,462 | 0.01% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 6,691,293 | 0.00% | 6,691,293 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 39,242,592 | 0.03% | 39,242,592 | 0.03% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 29,730,406,786 | 21.92% | 29,716,699,651 | 21.91% | 13,707,135 | 0.01%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 29,786,207,185 | 21.96% | 29,772,500,050 | 21.95% | 13,707,135 | 0.01%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 17,656,790 | 0.01% | 17,656,790 | 0.01% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 5,867,569 | 0.00% | 5,867,569 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,464,730 | 0.00% | 1,464,730 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 28,382,948,003 | 21.41% | 28,382,161,172 | 21.41% | 786,832 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 28,407,937,093 | 21.43% | 28,407,150,261 | 21.43% | 786,832 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
238 Group management report
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - GAR flow -
CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 853,444 | 0.00% | 853,444 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,324,502 | 0.00% | 1,324,502 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 4,736,804,785 | 8.95% | 4,710,957,687 | 8.90% | 25,847,097 | 0.05%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 4,738,982,730 | 8.96% | 4,713,135,633 | 8.91% | 25,847,097 | 0.05%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,318,314 | 0.00% | 1,318,314 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 5,483 | 0.00% | 5,483 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 3,055,921,352 | 5.98% | 3,042,447,916 | 5.95% | 13,473,436 | 0.03%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 3,057,245,149 | 5.98% | 3,043,771,713 | 5.95% | 13,473,436 | 0.03%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 239
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - GAR flow -
turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,050,824 | 0.00% | 1,050,824 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 362,341 | 0.00% | 362,341 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 17,523 | 0.00% | 17,523 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 4,797,649,245 | 9.07% | 4,784,280,184 | 9.04% | 13,369,061 | 0.03%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 4,799,079,933 | 9.07% | 4,785,710,872 | 9.04% | 13,369,061 | 0.03%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 830,208 | 0.00% | 830,208 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,258,760 | 0.00% | 1,258,760 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 26,592 | 0.00% | 26,592 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 3,056,803,019 | 5.98% | 3,056,053,537 | 5.98% | 749,483 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 3,058,918,578 | 5.98% | 3,058,169,096 | 5.98% | 749,483 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
240 Group management report
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - KPI
financial guarantees stock - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,232,494 | 0.01% | 1,232,494 | 0.01% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 42,195,431 | 0.42% | 42,195,431 | 0.42% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 8,041,516 | 0.08% | 8,041,516 | 0.08% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 63,085,654 | 0.63% | 61,247,397 | 0.61% | 1,838,257 | 0.02%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 114,555,096 | 1.14% | 112,716,839 | 1.12% | 1,838,257 | 0.02%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 635,020 | 0.01% | 635,020 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 14,156 | 0.00% | 14,156 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 140,687,796 | 1.52% | 137,852,148 | 1.49% | 2,835,648 | 0.03%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 141,336,972 | 1.53% | 138,501,324 | 1.50% | 2,835,648 | 0.03%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 241
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - KPI
financial guarantees stock - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 739,496 | 0.01% | 739,496 | 0.01% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 755,940 | 0.01% | 755,940 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 65,973,705 | 0.66% | 65,973,705 | 0.66% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1 | 0.00% | 1 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 16,542,294 | 0.16% | 16,541,324 | 0.16% | 970 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 84,011,437 | 0.84% | 84,010,467 | 0.84% | 970 | 0.00%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 979,569 | 0.01% | 979,569 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 268,963 | 0.00% | 268,963 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 127,696,336 | 1.38% | 127,689,030 | 1.38% | 7,306 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 128,944,868 | 1.39% | 128,937,563 | 1.39% | 7,306 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
242 Group management report
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - KPI
financial guarantees flow - CapEx

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 17,119 | 0.00% | 17,119 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 601,334 | 0.02% | 601,334 | 0.02% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 141,539 | 0.00% | 141,539 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 21,819,837 | 0.77% | 21,796,156 | 0.77% | 23,681 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 22,579,829 | 0.79% | 22,556,148 | 0.79% | 23,681 | 0.00%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 635,020 | 0.01% | 635,020 | 0.01% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 44 | 0.00% | 44 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 44,586,901 | 0.98% | 42,894,461 | 0.94% | 1,692,439 | 0.04%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 45,221,965 | 0.99% | 43,529,526 | 0.95% | 1,692,439 | 0.04%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 243
Disclosure template 4 taxonomy-eligible but not taxonomy-aligned economic activities - KPI
financial guarantees flow - turnover

| 31/12/2025 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 10,271 | 0.00% | 10,271 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 43,772 | 0.00% | 43,772 | 0.00% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,558,021 | 0.05% | 1,558,021 | 0.05% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 5,058,811 | 0.18% | 5,057,842 | 0.18% | 969 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 6,670,876 | 0.23% | 6,669,907 | 0.23% | 969 | 0.00%

| 31.12.2024 | CCM + CCA | Climate change mitigation | Climate change adaption
|  |  | % |  | % |  | %
1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.0% | 0 | 0.00% | 0 | 0.00%
2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.0% | 0 | 0.00% | 0 | 0.00%
3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.0% | 0 | 0.00% | 0 | 0.00%
4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 979,569 | 0.0% | 979,569 | 0.02% | 0 | 0.00%
5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 840 | 0.0% | 840 | 0.00% | 0 | 0.00%
6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.0% | 0 | 0.00% | 0 | 0.00%
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 42,438,626 | 0.9% | 42,431,322 | 0.93% | 7,303 | 0.00%
8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 43,419,035 | 1.0% | 43,411,731 | 0.95% | 7,303 | 0.00%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
244 Group management report
Disclosure template 5 taxonomy-non-eligible activities - GAR stock - CapEx

| 31/12/2025 |  |
|  |  | %
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,280,225 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 43,954 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 10 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 104,653,892,762 | 77.16%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 104,655,216,951 | 77.16%

| 31/12/2024 |  |
|  |  | %
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 51,242 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 21 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 103,143,145,814 | 77.82%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 103,143,197,078 | 77.82%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 245
Disclosure template 5 taxonomy-non-eligible activities - GAR stock - turnover

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,450,921 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 43,954 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 104,941,783,319 | 77.37%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 104,943,278,195 | 77.38%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 51,242 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 103,567,232,770 | 78.14%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 103,567,284,012 | 78.14%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
246 Group management report
Disclosure template 5 taxonomy-non-eligible activities - GAR flow - CapEx

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | — %
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | — %
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 172,387 | 0,00 %
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,637 | 0,00 %
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 10 | 0,00 %
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | — %
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 47,773,323,645 | 90.28%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 47,773,497,679 | 90.28%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,293 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 21 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 47,757,039,634 | 93.38%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 47,757,040,949 | 93.38%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 247
Disclosure template 5 taxonomy-non-eligible activities - GAR flow - turnover

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 195,372 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,637 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 47,822,756,312 | 90.38%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 47,822,953,321 | 90.38%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1,293 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 47,897,553,325 | 93.65%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 47,897,554,618 | 93.65%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
248 Group management report
Disclosure template 5 taxonomy-non-eligible activities - KPI financial guarantees stock - CapEx

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 9,718,402,606 | 96.81%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 9,718,402,606 | 96.81%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 8,902,474,952 | 96.27%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 8,902,474,952 | 96.27%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 249
Disclosure template 5 taxonomy-non-eligible activities - KPI financial guarantees stock - turnover

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 9,851,145,246 | 98.13%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 9,851,145,246 | 98.13%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 9,017,093,994 | 97.51%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 9,017,093,994 | 97.51%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
250 Group management report
Disclosure template 5 taxonomy-non-eligible activities - KPI financial guarantees flow - CapEx

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 2,746,773,347 | 96.43%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 2,746,773,347 | 96.43%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 4,482,591,551 | 98.27%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 4,482,591,551 | 98.27%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 251
Disclosure template 5 taxonomy-non-eligible activities - KPI financial guarantees flow - turnover

| 31/12/2025 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 2,809,454,900 | 98.63%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 2,809,454,900 | 98.63%

| 31/12/2024 |  |
|  |  | Percentage
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0.00%
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 4,499,103,160 | 98.63%
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI’ | 4,499,103,160 | 98.63%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
252 Group management report
Climate change
E1-1: Transition plan for climate change mitigation
Value chain
RBI already set emission reduction targets in line with the well below 2°C pathway, which were validated by the Science Based
Targets initiative (SBTi) in 2022.
RBI recalculated its emission reduction targets in 2024 according to the 1.5°C pathway. This replaces the previous reduction
targets validated by SBTi. The new targets, which are described in more detail in the following sections, conform with and
follow the calculation approach and disclosure requirements of the CSRD and the European Banking Authority’s technical
standards (EBA ESG ITS) and are based on the country-specific Network for Greening the Financial System (NGFS) scenario,
processed and published by the International Monetary Fund. For more details please refer to chapter E1-4: Targets related to
climate change mitigation and adaptation .
The climate and environmental business strategy was further enhanced in 2025 by setting country level 2030 emissions targets
as well as 2026-2029 yearly ambitions which were approved by the Management Board.
In 2025, RBI managed to stay within its short-term targets in the non-financial corporations segment. Key elements of the
transition plan for achieving the emission reduction targets were developed and operationalized through local execution
strategies in the subsidiaries, including a special focus on carbon-intensive industries, further development of the ESG
stakeholder engagement with our customers and dedicated support for low-carbon sectors.
By 2030, RBI aims to reduce greenhouse gas emissions in its non-financial corporations portfolio by 27 per cent (baseline year:
2023). RBI has committed to achieving net-zero greenhouse gas emissions by 2050 and to aligning with the 1.5°C pathway.
RBI has set itself the goal of supporting its customers from the retail, corporate and institutional sectors in their green
transition. RBI’s customers are encouraged to work on a targeted basis towards improving their climate and environmental
performance by developing and following a transition pathway. RBI also offers its customers ESG expertise and sustainable
financial products and services.
The climate and energy transition forms an integral part of all three pillars of RBI’s climate and environmental business
strategy, developed in 2023 and endorsed by the Management Board. Each pillar defines a specific scope, milestones and
planned actions as key steps toward the 2050 net-zero target. Detailed information about the climate and environmental
business strategy can be found in the chapter RBI’s climate and environmental business strategy.
Recognizing the importance of managing partnerships with customers not yet prepared for future environmental challenges,
RBI developed the climate and environmental transition policy. This policy emphasizes decarbonizing the customer portfolio
through strategic customer engagement.
Local implementation plans (ESG risk policy statements) drive operationalization of this policy, detailing necessary business
and operating model changes in the subsidiaries. They ensure that ESG risk governance is reflected locally and that each
subsidiary contributes specific actions to meet RBI’s 2030 financed emissions target, a crucial milestone on the path to 2050
net-zero emissions.
To mitigate risks to these mid- and long-term targets and to leverage the opportunities of a low-carbon economy, RBI actively
collaborates with its customers, tailoring its support to their specific transformation needs. RBI developed an ESG engagement
strategy toolbox designed to provide customized advisory services and sustainable finance products, accommodating
customers ranging from those with limited ESG knowledge to those with advanced strategies and reporting. Special attention
is given to customers with higher ESG risks and insufficient emission targets, encouraging them to develop and follow targeted
transition pathways.
Additionally, RBI aims to increase the utilization of eligible assets for sustainable funding products such as green, social and
sustainability bonds, sustainable deposits and certificates. It has established and continually refines the structures, processes
and capabilities needed to implement its climate and environmental transition policy, ensuring organizational alignment with
sustainability commitments.
As a bank, RBI’s value chain is primarily composed of financial services and related support activities, which do not involve
ownership or direct influence over CO 2-intensive assets. Therefore, RBI does not consider locked-in emissions to be material
within its value chain.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 253
Own operations
RBI has the goal of limiting negative environmental impacts at all of its sites.
RBI first set science-based targets in 2022, which were in line with the climate target of keeping global warming well below 2°C.
To accommodate this rising ambition, the targets for own operations were recalculated in 2024 using a methodology provided
by the Science Based Targets initiative. The transition plan for emissions caused by RBI’s own operations is now aligned with
the 1.5°C requirement by the CSRD.
The transition plan for own operations was calculated and overviewed by Group ESG & Sustainability Management in
alignment with all relevant stakeholders in the consolidated units as well as the CIO/COO areas. The transition plan, including
calculation pathway and targets, was approved by the RBI Management Board in 2024.
In 2025, RBI successfully delivered on its short-term targets. Key elements of a transition plan for own operations were
developed and formalized in the environmental policy and operationalized through individualized local strategies to take into
account specific market conditions. A special focus was placed on identifying the highest emission drivers and targeting those
areas through local initiatives in the subsidiaries and knowledge building.
By 2030, RBI aims to reduce absolute Scope 1 and 2 GHG emissions from own operations by 42 per cent from a 2024 base year.
Additionally, ongoing adaptations of the transition plan for own operations as well as linked measures and policies will take
place to enable agile steering and continuous alignment with RBI’s emission reduction targets.
Looking ahead to 2050, RBI is committed to aligning with the 1.5°C pathway and achieving net-zero greenhouse gas emissions.
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with
strategy and business model
Climate stress testin g
As part of RBI's risk management framework (see chapter Policy frameworks as governance instruments) , two types of
analyses are conducted to assess the resilience of the portfolio towards climate-related risks: short-term climate stress tests
and medium to long-term climate resilience analyses. The former is implemented via the regularly performed internal
integrated stress test, which features climate-related shocks on top of the broader adverse macroeconomic developments.
The latter is a separate analysis that is performed annually covering a time horizon up until 2050 and focuses on the impact of
various transition scenarios.
Scenarios
The transition scenarios follow the NGFS publications. To cover a diverse set of scenarios, the following core scenarios have
been selected:
· Orderly Transition (Net Zero 2050): Assumes early and gradual implementation of climate policies, resulting in a
smoother economic transition with more subdued physical and transition risks (global warming limited to 1.5°).
· Disorderly Transition: Assumes delayed or divergent climate policies, leading to higher transition risks and more
abrupt economic shocks, such as sudden increases in carbon prices.
· Hot-House World: Assumes current global climate policies are insufficient to prevent significant global warming,
leading to severe physical risks with limited transition risks.
For the medium- to long-term resilience analysis, these scenarios are then further enhanced by Raiffeisen Research to create
custom scenarios, capturing macroeconomic and climate components that are specifically tailored to RBI's geographical
footprint and business model. For the second quarter of 2025 short-term stress test exercise, the underlying climate scenario is
a delayed disorderly transition.
Scope
The short-term integrated stress test assumes a static balance sheet and considers all major risk types (e.g. credit, market,
operational, reputational). It additionally assesses the impact on the income of the bank, mainly via a simulation of net interest
as well as net fee and commission income. The long-term exercise considers a dynamic balance sheet and focuses especially
on the credit portfolio.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
254 Group management report
Methodology
Due to a lack of historical data on the impact of transition policies or of sharp increases in carbon taxes and electricity costs,
and their impact on the non-retail portfolio, RBI relies on a methodology that combines macroeconomic models with the
internal ESG scores as well as forward-looking structural models at sector level that model corporate profitability and debt-
servicing ability in the various transition scenarios. In the stress test, on top of the general stress affecting all customers, those
with a poor E score are additionally downgraded. For the long-term resilience analysis, the sectoral model produces
production/output figures and cost levels in the various scenarios, which are combined with production location specific
physical risk data to produce stressed balance sheets in the various scenarios. Once the stressed balance sheet data is
available, it is fed into the corporate rating model to derive stressed PDs (probability of default) and, eventually, risk costs.
Finally, the impact on the corporate portfolio is extrapolated to other portfolios by leveraging the internal E-score or country
specific averages.
In the retail portfolio, the additional transition risk impact in the short-term stress scenario is covered via the macroeconomic
models and the corresponding forecasts of the respective variables (economic growth, inflation, etc.). For the long-term
resilience analysis, the PD & LGD models for residential mortgages have been extended to include the energy efficiency (EPC:
Energy Performance Certificate) label awarded to the underlying collateral, while for the non-mortgage-backed loans, the PD
and LGD macro models are modified to include energy prices as macro variables. Physical risks are captured in both exercises
via their macroeconomic transmission channel and also affect the collateral values, where a heightening in physical risks would
lead to higher LGDs.
Market risk focuses on credit spread risk derived from bond positions. Companies or industries that fail to adapt to a low-
carbon economy may face stranded assets, leading to reduced revenues and higher credit spreads. These higher credit
spreads results have significant implications for financial reporting under IFRS, including the valuation of financial instruments,
recognition of losses as well as impacts on capital.
In the assessment of operational risk related to climate scenarios, RBI recognizes the threat posed by greenwashing events,
where the disclosed sustainability profiles or product characteristics do not accurately reflect underlying sustainability risks.
Such misrepresentations can lead to customer claims, regulatory fines, increased financing costs and potential loss of future
revenues. The financial repercussions of these risks manifest as direct costs reflected in the income statement. To mitigate
these risks, RBI is committed to enhancing transparency, conducting regular audits of its sustainability practices, engaging with
stakeholders and providing training on accurate disclosures, thereby safeguarding its reputation and ensuring compliance with
sustainability standards.
Results
The results of the integrated stress test, capturing both transition and physical risk effects, enter RBI's ICAAP framework as an
item deducted from internal capital. Furthermore, the climate risk stress test is one of the input parameters applied in the
materiality assessment and also complements the target and strategy selection.
In the 2025 second quarter exercise, the combined macroeconomic and climate risk stress test showed that over a three-year
horizon no regulatory capital ratios were breached, thereby confirming the resilience of RBI’s business model and its ability to
withstand adverse developments in both dimensions. For the core group (excluding Russian subsidiaries) the medium- to long-
term resilience analysis shows a moderate risk due to transition and physical risks as indicated by a higher impairment need
for the credit portfolio.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 255
E1-2: Policies related to climate change mitigation and adaptation
Value chain
General framework

Policy | Code of Conduct
General objective | G1-1: Corporate culture
Related IRO | Co2 emission reduction, biodiversity and eco system, circularity
Key contents | RBI cares about the environment – and therefore considers the environmental impact of its business activities. RBI gives preference to businesses with transformative and non-polluting technologies, with the main aim of reducing greenhouse-gas emissions and selecting suppliers in consideration of their environmental footprint and related measurements. RBI works to conduct its operations in a safe manner that minimizes negative environmental impact and reduces carbon emissions. RBI expects its service providers and suppliers to adhere to its standards. RBI strives to do business with sustainable companies. The financing of or participation in any transactions or projects which put the environment at risk of lasting substantial detrimental effect (e.g. destruction of the rainforest, pollution of land, air or waters) are not in accordance with RBI´s business conduct. Respective staff members are required to take into consideration potential adverse environmental effects and associated potential risk of damage to RBI´s reputation in every decision regarding transactions or projects – especially when providing financing.
Value chain / Own operations | Downstream value stream
Affected stakeholders | Customers
Other details regarding the policy | See chapter G1-1: Corporate culture

Lending business (on-balance)

Policy | Climate and environmental transition policy
General objective | Providing guidance for business decisions in the non-financial corporations (NFC) segment, aiming to develop a portfolio aligned with a 1.5-degree pathway by 2030, including a reduction of group-wide financed emissions by approx. 27 per cent by 2030, measured in financed emissions intensity.
Related IRO | CO 2 emission reduction
Key contents | The policy establishes a Group-wide framework for decarbonizing RBI’s non-financial corporations (NFC) portfolio by 2030, with the target of reducing financed emission intensity by around 27 per cent. It defines a structured approach – including customer segmentation, emissions data sourcing, steering responsibilities and integration into financial planning and reporting—ensuring regulatory compliance and strategic alignment with the EU’s 1.5°C climate pathway.
Process for monitoring | Monitoring progress towards financed emissions intensity for 2030 for Group and country targets as well as yearly ambitions for 2026-2029 is the responsibility of the Sustainable Finance department at RBI AG, which is also a business owner of the climate and environmental transition policy.
Scope / Exclusions | The policy applies to the non-financial corporations (NFC) segment in RBI AG and RBI Group entities, including Network Units and Austrian subsidiaries.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Group Corporate, CIB Client Lifecycle Management, Group Structured Finance and Investment Banking, Sustainable Finance, Group Financial Steering, Group Financial Institutions, Country & Portfolio Risk Management, Group Corporate Credit Management, Integrated Risk Management, Group Financial Methods & Policies, Group Risk Data Integration
Most senior level responsible | Management Board
Reference to third party standards | -
Consideration of key stakeholders | See above Affected Stakeholders
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
256 Group management report
Sectoral Strategies and Policies

Policy | ESG sectoral strategies
General objective | · Identify the supportive, transformative and restrictive criteria in the oil & gas, real estate & construction and steel industries as well as define the principles, rules and engagement criteria for such classifications. · Support the implementation of qualitative targets relating to negative impacts on the circular economy and climate change. · Define customer and project-level criteria per sector to contribute to decarbonization.
Related IRO | CO2 emission reduction
Key contents | This policy collated and included sectoral policies on oil & gas, steel, and real estate and construction.
Process for monitoring | Monitored on regular basis; actions and outcomes streamlined by the Sustainability Committee
Scope / Exclusions: | All RBI group units involved in lending products must comply with this policy. Credit Portfolio Management is accountable for the implementation of the policy.
Value chain / Own operations | The policy defines actions for customer engagement towards C&E benefits
Affected stakeholders | Customers
Most senior level responsible | RBI Board Level
Reference to third party standards | The policy is prepared based on the following regulatory and legal framework: · EU Taxonomy Regulation · Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (European Climate Law) · European Central Bank, Banking Supervision — Guide on climate-related and environmental risks – Supervisory expectations relating to risk management and disclosure (November 2020) · The Principles of Responsible Banking (UNEP FI) · Alignment with EU/US/UK regulations
Consideration of key stakeholders | Corporate Customers department, Group Regulatory Affairs, Group ESG & Sustainability Management, Risk Management
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

Policy | Thermal coal policy
General objective | The guideline defines how to engage with customer in the value chain and is applicable for all Group units involved in the lending business.
Related IRO | CO2 emission reduction
Key contents | This is an exit (phase-out) policy that sets rules for the exit from thermal coal financing by 2030. Allowed business for transformation from thermal coal is a part of the policy. The policy’s threshold is based on revenues (25 per cent or lower) for acceptability, provided that the companies have a clear exit plan from the sector by 2030.
Process for monitoring | -
Scope / Exclusion: | All RBI units involved in lending products must comply with this policy.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Corporate Customers, Group Regulatory Affairs, Group ESG & Sustainability Management, Risk Management
Most senior level responsible | Management Board
Reference to third party standards | The policy is based on the following regulatory and legal framework: · The Paris Pledge for Action (United Nations Climate Change Conference) · Katowice Rulebook (24th United Nations Framework Convention on Climate Change Conference, Conference of the Parties of the Climate Change Convention 2024), Katowice, December 2018 · United Nations Global Compact – Principles 7-9.
Consideration of key stakeholders | Corporate Customers department, Group Regulatory Affairs, Group ESG & Sustainability Management, Risk Management
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments; published on the homepage as position paper: https:// www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/renewable-energy.html

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 257
Process policies

Policy | ESG rulebook
General objective | To help its customers improve their carbon footprint and make their transformation sustainable, RBI needs to be able to assess transactions and projects on the basis of ESG criteria and advise its customers accordingly. The ESG rulebook sets out group-wide uniform definitions for sustainable customers and sustainable transactions within RBI. RBI aims to update the ESG rulebook regularly in order to reflect the latest market developments.
Related IRO | Adaption risks (natural and governance).
Key contents | The document describes the definitions, classification concept, roles and responsibilities as well as greenwashing prevention concept related to sustainable financial products as well environmentally responsible customers.
Process for monitoring | The monitoring and review of the document is performed in alignment with evolving business needs and market standards on a regular basis to ensure it remains current and fit for purpose.
Scope / Exclusions | Corporate and institutional customer segments (including financial institutions, sovereigns as well as local and regional governments) within head office, in the subsidiary banks and at Raiffeisen-Leasing Gesellschaft m.b.H. and Raiffeisen Bausparkasse Gesellschaft m.b.H.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Group Structured Finance & Investment Banking, Group Institutional Clients, Group Capital Markets, Group Risk Data & Regulatory Reporting, Group ESG & Sustainability Management, Legal Services, Raiffeisen Research, Raiffeisen Certificates, Retail Bonds & Equity Trading, ESG experts at NWBs, RBSPK and RBI Leasing.
Most senior level responsible | Management Board
Reference to third party standards | The document is based on the Loan Market Association guidelines, ICMA principles, the EU Taxonomy Regulation, the Sustainable Finance Code of Conduct of Zertifikateforum Austria and the ESG target market concept defined by BSW, BVI and WM Daten Service as well as market practice in relation to anti-greenwashing processes
Consideration of key stakeholders | See above Affected stakeholders
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

Policy on consideration of ESG risks in credit decision

Policy | ESG process flow corporates
General objective | It provides an overview of the ESG related process steps in the corporate credit process, including definition of the clear process responsibilities of all lines of defense
Related IRO | CO2 emission reduction
Key contents | RBI has set up a process to screen critical transactions from an ESG point of view and to avoid business that is in conflict with the UN Global Compact. By joining the UN Global Compact, RBI endeavors to pursue the ten principles expressed by this initiative. They include the following environmental principles: · Businesses should support a precautionary approach to environmental challenges. · Undertake initiatives to promote greater environmental responsibility; and · Encourage the development and diffusion of environmentally friendly technologies ESG criticality checks and ESG expert opinions form part of the ESG process flow for corporates. The ESG risk framework is set up to assess lending transactions that have the potential to negatively impact the environment or society and hence could be considered critical (ESG-critical) from a sustainability viewpoint. The ESG expert opinions assess the ESG impact of the transaction and present the conclusion on whether the transaction should not be pursued from an ESG impact perspective. The recommendation also includes a qualitative assessment to ensure that ESG impacts are considered in lending decisions.
Process for monitoring | The manual has to be amended on a continuous basis to ensure that the most recent standards and aspects relating to ESG performance are covered. Several meetings of the stakeholders (with account managers, underwriting departments etc.) take place within a calendar year to ensure the effectiveness of the process described in the manual. Changes to the manual are coordinated with the stakeholders in advance and communicated to them in a timely manner.
Scope / Exclusion: | All RBI group units involved in credit products must comply with this policy.
Value chain / Own operations | Downstream value chain
Affected stakeholders | All RBI group unis involved in credit products must comply with this policy.
Most senior level responsible | In line with approval authority of credit transactions, up to Supervisory Board depending on size of credit limit
Reference to third party standards | EBA Guidelines 2020/06 on loan origination and monitoring; Regulation 2020/852 – EU Taxonomy; EBA Guidelines 2025/01 on management of environmental, social and governance risks; UN Global Compact
Consideration of key stakeholders | Under the leadership of Credit Portfolio Management, several departments at head office and the subsidiary banks in Central and Eastern Europe were involved in designing the processes. In addition, Compliance and Group ESG & Sustainability Management were involved in setting up parts of the policy, as well as its implementation. In addition, the following risk departments have been involved in c redit portfolio management (country, industry limits); underwriting departments (for credit risk management statement); account managers: risk controlling (climate-related stress tests).
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

Credit process has been updated in such a way that critical E considerations are properly reflected in credit decision making
and that appropriate escalations are also in place. Independent impact evaluation is performed by the Sustainable Finance
area prior to critical transactions in order to balance both financial and non-financial risks.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
258 Group management report
Policies for assets under management
This chapter deals exclusively with policies that extend beyond the content of the Group policies and contain specific
regulations for assets under management. These regulations partially exceed the requirements of the Group policies. The
policies mentioned here are not necessarily limited to ESG or sustainable products, although the relevant scope is specified in
each respective policy.
Sectoral/topic specific policies
In addition to the Group Policy on coal, Raiffeisen Kapitalanlage-Gesellschaft m.b.H. has adopted further rules for its assets
managed:

Policy | Coal policy – Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy outlines the measures taken by Raiffeisen Kapitalanlage-Gesellschaft m.b.H. (RKAG) to exit financing the coal industry.
Related IRO | CO2 emission reduction
Key contents | Phase-out from financing the coal industry: · Corporates – mining and extraction: 0 per cent (target 2025) · Corporates – exploration, distribution and refining: 1 per cent (target 2025) · Sovereigns – reflected in the indicator model (Raiffeisen-ESG sovereign indicator)
Process for monitoring | Limit system
Scope / Exclusions | All self-managed mutual funds and portfolios within RKAG. When selecting investment funds that are managed by other investment companies, this obligation is complied with as far as possible. The same principle holds in case of management of special funds by RKAG, taking into account any individual agreements concluded with the investor.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of corporate responsibility within Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | In accordance with the Paris Agreement
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage: https://a.storyblok.com/f/314998/x/156df3a9dd/policy-kohle-en.pdf

Policy | Climate strategy – Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy outlines the targets and measures Raiffeisen Kapitalanlage-Gesellschaft m.b.H. is taking to make a suitable contribution to fighting the climate crisis and to actively support the Group’s necessary transformation as a financial market participant.
Related IRO | CO2 emission reduction
Key contents | Climate risks and opportunities, limitations, climate neutrality in portfolio management: · Reduction of emissions intensity by at least 25 per cent by 2025 (for assets in scope) · Reduction of emissions intensity by at least 50 per cent by 2030 (for assets in scope) · Net zero GHG emissions by 2050 (for investment portfolio) · Engagement target (dialogue with 20 largest GHG emitters) · operational ecology
Process for monitoring | Annual reporting as part of PRI reporting process
Scope / Exclusions | In scope: listed corporate bonds and equities of self-managed mutual funds within Raiffeisen Kapitalanlage-Gesellschaft m.b.H. (i.e.admitted to trading on a regulated market); Out of scope: investments in sovereigns as well as special funds (for the latter any agreements concluded with the investor are taken into account)
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of corporate responsibility within Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | In accordance with the Paris Agreement
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage https://a.storyblok.com/f/314998/x/2dcea5a32b/strategie-klima-en.pdf

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 259
Process Policie s

Policy | Engagement strategy – Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy outlines the measures and actions taken to implement a framework for engagement activities (business dialog with companies, exercise of voting rights) and is a reflection of the fiduciary obligations Raiffeisen Kapitalanlage-Gesellschaft m.b.H. fulfils in relation to its customers.
Related IRO | CO2 emission reduction
Key contents | The policy outlines principles for monitoring of investee companies, dialog with companies, exercise of voting rights, cooperation with other shareholders, conflicts of interest, documentation.
Process for monitoring | Disclosure of annual engagement report with all relevant activities of the past year
Scope / Exclusions | All self-managed Raiffeisen Kapitalanlage-Gesellschaft m.b.H. mutual funds
Value chain / Own operations | Downstream value chain
Affected Stakeholders | Fund investors
Most senior level responsible | Head of corporate responsibility within Raiffeisen Kapitalanlage Gesellschaft m.b.H.
Reference to third party standards | EU Second Shareholder Rights Directive (Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement)
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/202408_mitwirkungspolitik_v1.4_en? fr=xKAE9_zU1NQ).

Policy | Sustainability strategy – Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy outlines the Raiffeisen Kapitalanlage-Gesellschaft m.b.H. framework for integrating sustainability at the levels of product development, investment process and the ongoing development of the company.
Related IRO | CO2 emission reduction
Key contents | The policy addresses the consideration of sustainability risks, which is applied within the framework of the investment process as well as in the internal limit system and the performance and risk reporting. The respective investment process is also presented in the policy. RKAG is committed to the comprehensive consideration of the principal adverse impacts on sustainability factors. Topics relevant at entity level (such as memberships) are also included.
Process for monitoring | Limit system, annual reporting
Scope / Exclusions | In scope: all self-managed Raiffeisen Kapitalanlage-Gesellschaft m.b.H. mutual funds; parts of the policy (e.g. responsible investment process) only target funds with a dedicated ESG investment strategy. For management of special funds, any agreements concluded with the investor are taken into consideration.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of corporate responsibility within Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | Art. 3 and 4 of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐ related disclosures in the financial services sector
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/policy_nachhaltigkeit_kag_en? fr=sNWMxMzQ3ODIwNjE).

Own operations
Management
The environmental management system in Austria is based on international standards (ISO 14001). Energy efficiency,
renewable energy and environmentally friendly mobility are important in RBI’s own operations. In terms of its carbon footprint,
energy consumption/building management, material consumption and mobility are the most important areas of action. These
are also crucial with regard to achieving the climate targets.
Group ESG & Sustainability Management at head office, the Environmental Committee, Facility Management and the
sustainability officers at the subsidiary banks in Central and Eastern Europe are primarily responsible for implementing the
policies and actions and for evaluating the degree of target attainment.
RBI’s due diligence process includes the processes implemented by the bank to identify actual and potential negative impacts
on the environment and people related to its business activities including, among other aspects, consideration of
internationally recognized ISO standards, building certificates and environmental labels. All policies align with national and
international commitments, such as the Principles of Responsible Banking (PRB). In addition, energy audits and management
systems are used not only in Austria, but also at some subsidiary banks in Central and Eastern Europe.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
260 Group management report
Topic-specific policies

Policy | Environmental policy
General objective | RBI published its own environmental policy in 2022, which details the key action areas and aims to manage and inform actions and targets regarding own operations. Among other areas, RBI is committed to continuously improving its environmental performance – and as far as possible and reasonable – above and beyond the legal requirements. In addition, the policy sets out that, in the environment area, RBI has defined the thematic areas of carbon footprint, energy efficiency and renewable energy as material.
Related IRO | Climate-fit operations, Adaptation risks (natural and governance), Sustainable operations
Key contents | The policy covers RBI’s transition plan for own operations, the responsibilities, materiality, impacts, risks and opportunities in own operations, as well as actions, monitoring, and tracking of data.
Process for monitoring | The monitoring process is facilitated by Group ESG & Sustainability Management in head office, the implementation of actions is done locally by the relevant departments (e.g. Sustainability Management, Facility Management) in alignment with the corresponding B-1 and Management Board. The data for monitoring is collected by designated specialists in the respective subsidiaries in Central and Eastern Europe and aggregated for analysis, target monitoring, as well as reporting, by GESM in head office. It undergoes the four-eyes-principle and is validated additionally by an external auditor during the reporting process. This is intended to ensure that the commitment to sustainability is specifically focused on where RBI as a company has the biggest influence via its office locations. The environmental policy is continuously revised and extended in line with new developments and the latest scientific findings.
Scope / Exclusions | All self-managed retail funds of RKAG; parts of the guideline (e.g., responsible investment process) refer exclusively to funds with a designated ESG investment strategy. Any agreements made with the investor are taken into account when managing special funds.
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group ESG & Sustainability Management
Reference to third party standards | -
Consideration of key stakeholders | The active communication and involvement of stakeholders such as internal and external experts to inform the policy content, local Facility Management for implementation of actions, as well as local sustainability specialists to collect data and ensure regular adaptation, form part of the process. See the environmental policy (https://www.rbinternational.com/en/raiffeisen/ sustainability-esg/inhouse-ecology.html) for more details.
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

Policy | Travel policy
General objective | RBI’s travel policy applies to all business trips in connection with professional activities for RBI. The travel policy was revised in accordance with environmental factors. The choice of means of transport must take into account economic and environmental considerations. This applies to the Austrian units including the Austrian subsidiaries, and also provides a framework for the subsidiary banks in Central and Eastern Europe.
Related IRO | Climate-fit operations, Sustainable operations
Key contents | The policy covers all travel services related to business trips (flights, hotel, rental car, etc.), as well as related costs and benefits. To save costs and protect the environment, business trips should be replaced by available technologies, such as web and video conferences, where possible. The mode of transport to be used should result in the lowest costs, taking travel time into consideration. Furthermore, environmentally friendly means of transport (e.g. public transportation) are preferred.
Process for monitoring | RBI’s policies are regularly reviewed by the policy owners and expanded upon in accordance with geopolitical developments, travel warnings, etc.
Scope / Exclusions | -
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group Finance Data, Analytics and Operations
Reference to third party standards | -
Consideration of key stakeholders | -
Availability to pot. stakeholders | See chapter Policy frameworks as governance instruments

E1-3: Actions and resources in relation to climate change policies
Value chain
Corporate and institutional customers
Making RBI’s balance sheet more aligned with the climate targets of the Paris Agreement while supporting its customers in
their climate and environmental transition are key aims of RBI’s climate and environmental strategy. This is achieved through
utilization of various internal tools, involving the conducting of a qualitative and quantitative assessment at portfolio,
counterparty and transaction levels to identify sustainability risks and business opportunities. At the portfolio level, this
includes strategic scorecard, materiality and impact analyses, financed emissions calculations and climate stress tests as well
as ESG budgeting.
The strategic scorecard provides an overarching framework for assessing ESG factors across business lines and countries,
while materiality and impact analyses are intended to identify key sustainability issues and potential business opportunities.
Financed emissions calculations quantify the carbon footprint associated with the portfolio, supporting the alignment with
climate targets. Climate stress tests simulate potential adverse scenarios, assessing portfolio resilience under different
environmental conditions. ESG budgeting ensures that financial planning incorporates these insights, facilitating adaptive
funding strategies, effective management of ESG key performance indicators and alignment with RBI’s long-term climate and
sustainability commitments at both Group and country levels.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 261
At the customer level, steering is performed through tools such as customers clustering based on ESG scores and financed
emissions intensity. Segmenting customers by ESG profiles and decarbonization efforts enables targeted engagement
initiatives supported by sustainable finance products. Sector specific approaches are defined within the ESG sectoral
strategies for oil and gas, real estate and construction as well as the steel industry.
At the transaction level, as described in the ESG process flow corporates, ESG is embedded in the credit policy and lending
process, with the requirements reflecting current ESG risk trends as well as ESG definitions for both customer and business
transactions levels. Additional steering tools include ESG management incentives and discounts programs as well as ESG
wholesale funding steering.
Sustainable financing
All sustainable financing across RBI must comply with internal policies and frameworks, including the RBI Group ESG Rulebook,
which is aligned with EU Taxonomy, LMA and ICMA principles as well as anti-greenwashing standards.
As of 31 December 2025, the total volume of sustainable financing for corporate and institutional customers across RBI AG and
its CEE subsidiaries amounted to € 14.1 billion (previous year: € 12.4 billion). Of this, € 9.3 billion (previous year: € 8.6 billion) had
been drawn, while € 4.8 billion (previous year: € 3.8 billion) remained available as unutilized credit lines. This figure includes
financing with a positive environmental or climate impact, as well as ESG-linked instruments.
Sustainable financing – corporate and institutional customers

in € million | 2025 | 2024
Financing with a positive impact on the environment and the climate | 6,928 | 49% | 6,076 | 49%
ESG-linked financing | 2,370 | 17% | 2,509 | 20%
Subtotal (utilized line) | 9,298 | 66% | 8,585 | 69%
Unutilized line | 4,791 | 34% | 3,794 | 31%
Sustainable financing | 14,089 | 100% | 12,379 | 100%

Breakdown of sustainable financing by category:
Sustainable financing – corporate and institutional customers

in € million | 2025 | 2024
Sustainable real estate | 4,123 | 29% | 3,761 | 30%
Renewable energy | 1,322 | 9% | 1,117 | 9%
Energy efficiency measures | 679 | 5% | 546 | 4%
Sustainable mobility | 441 | 3% | 430 | 3%
Water supply, sewage treatment and waste management | 256 | 2% | 117 | 1%
Sustainable forestry and farming | 67 | 0% | 27 | 0%
Manufacturing industry | 41 | 0% | 78 | 1%
ESG KPI-linked loans | 2,010 | 14% | 1,929 | 16%
ESG Rating-linked loans | 360 | 3% | 580 | 5%
Subtotal (utilized line) | 9,298 | 66% | 8,585 | 69%
Unutilized line | 4,791 | 34% | 3,794 | 31%
Sustainable financing | 14,089 | 100% | 12,379 | 100%

The total volume of sustainable financing for solely corporate customers at RBI in 2025 was around € 13.8 billion as of 31
December 2025 (previous year: € 12.2 billion) and represented around 14,2 per cent (previous year: 13 per cent) of the total RBI
corporate business line portfolio. Of this amount, € 9.2 billion (previous year: € 8.5 billion) was utilized and € 4.6 billion (previous
year: € 3.7 billion) was unutilized by corporate customers.
The total volume of sustainable financing for solely corporate customers at RBI AG in 2025 was around € 8.3 billion as of 31
December 2025 (previous year: € 7.6 billion) and represented around 17,6 per cent (previous year: 17 per cent) of the total RBI AG
corporate business line portfolio. Of this amount, € 4.4 billion (previous year: € 4.2 billion) was utilized and € 3.9 billion (previous
year: € 3.4 billion) was unutilized.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
262 Group management report
Sustainable real estate
In 2025, the volume of financing utilized by corporate and institutional customers at RBI in the area of sustainable real estate
was € 4.1 billion as of 31 December 2025 (previous year: € 3.8 billion). This represents 44 per cent (previous year: 44 per cent) of
the volume of sustainable financing (limited to financing with a positive impact on the environment and the climate and ESG-
linked financing) of € 9.3 billion (previous year: € 8.6 billion) utilized by corporate and institutional customers at RBI.
On the funding side, the total volume of green building assets in the RBI AG Green Bond portfolio amounted to € 640 million as
of 31 December 2025 (previous year: € 793 million), making it one of the main contributing industries with 37 per cent (previous
year: 41 per cent) of the overall RBI AG Green Bond portfolio. The real estate projects included in the eligible green loan portfolio
have lower energy consumption than the average level for real estate in the respective country. These projects resulted in an
annual reduction in greenhouse gas emissions of 29,705 tCO 2 per year (previous year: 38,952 tCO 2), representing approx. 37 tCO 2
per € 1 million, invested according to the RBI Green Bond Allocation and Impact Report 2024 (previous year: approx. 47 tCO 2 per
€ 1 million).
Renewable energy, energy efficiency, electrification
· Renewable energy
In 2025, the volume of financing committed to renewable energy investment projects by RBI and utilized by corporate and
institutional customers was € 1.3 billion as of 31 December 2025 (previous year: € 1.1 billion).
On the funding side, the total volume of renewable energy assets in the RBI AG Green Bond portfolio amounted to € 669 million
as of 31 December 2025 (previous year: € 535 million), making it one of the main contributing industries with 38 per cent
(previous year: 28 per cent) of the overall RBI AG Green Bond portfolio. According to the 2024 RBI AG Green Bond Allocation and
Impact Report, the renewable energy loan portfolio of RBI AG generated an estimated annual saving of 983,749 tCO 2 (previous
year: 960,219 tCO 2), equivalent to approximately 1,839 tCO 2 per € 1 million invested (previous year: approx. 1,732 tCO 2).
· Energy conservation and efficiency
The volume of financings committed to energy efficiency investment projects by RBI and utilized by corporate and institutional
customers was €678.6 million as of 31 December 2025 (previous year: € 545.7 million).
On the funding side, the total volume of energy efficiency assets in the RBI AG Green Bond portfolio amounted to € 300 million
as of 31 December 2025 (previous year: € 439 million). According to the 2024 RBI AG Green Bond Allocation and Impact Report,
financing projects for the improvement of energy efficiency resulted in an annual reduction in greenhouse gas emissions of
38,948 tCO 2 per year (previous year: 7,323 tCO 2), representing approx. 89 tCO 2 per € 1 million invested (previous year: approx. 15
tCO 2).
· Electrification
The focus is on low carbon and zero direct emission vehicles as well as infrastructure dedicated to the their operation, as well
as on electricity grids, electric utilities and adjacent industries.
The volume of financings committed to sustainable mobility investment projects by RBI and utilized by corporate and
institutional customers was € 441.2 million as of 31 December 2025 (previous year: € 429.6 million).
On the funding side, the total volume of clean transportation assets in the RBI AG Green Bond portfolio amounted to
€ 132 million as of 31 December 2025 (previous year: € 150 million). According to the 2024 RBI AG Green Bond Allocation and
Impact Report, the clean transportation loan portfolio of RBI AG generated an estimated annual saving of 14,593 tCO 2 (previous
year: 15,550 tCO 2), equivalent to approximately 97 tCO 2 per € 1 million invested (previous year: approx. 319 tCO 2).
To enable the electrification of the value chain, RBI is actively looking into opportunities from battery production to Battery
Energy Storage System (BESS) projects and to continue the cooperation with RBI’s industry specialists, specifically for the
automotive and utilities industries.
· Hydrogen and carbon capture
RBI plans to identify existing and new customers with sustainable CapEx needs and to review the market opportunities for
hydrogen generation and pipelines as well as investments in the transition of steel production and in the transportation sector
(merchant hydrogen for industrial customers, fuel cell electric vehicles (FCEV) – hydrogen refueling stations and even ports).
All of these aforementioned actions can be classified as an ongoing process, with no specific time horizons set for completion.
The actions will continue in the form described and at present no plans exist to discontinue them.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 263
Sustainability in retail banking
In line with the climate and environmental business strategy and its first pillar, one of the key targets of retail banking is to
improve the green loan products offered to RBI’s retail customers.
RBI’s focus is on supporting its customers in their green transition and becoming their first choice for retail ESG products. RBI
has developed solutions aimed at assessing customers’ carbon footprint and has provided products with an environmental and
social impact that allows retail customers to receive a superior supply of sustainability-oriented solutions. RBI aims to further
increase new green and social loan sales to private individuals and small-business customers, and therefore advises its
customers on the possibility of green unsecured purpose loans and green mortgage loans.
As of 31 December 2025, the retail green mortgage portfolio amounted to € 2.9 billion. A comparison with 2024 is not available,
as the collection of data for this portfolio started only in 2025. The new business volume generated from retail green mortgage
loans in 2025 reached around € 625 million.
Prevention of greenwashing and negative ESG impacts
To address the topics of negative ESG impacts and greenwashing prevention within sustainable finance transactions, RBI has
implemented different processes, which include the ESG expert opinion and the greenwashing prevention check, as well the
establishment of an exclusion list of all corporate activities in which RBI does not wish to be involved. In addition, employees
receive regular training courses that indicate which activities and sectors are particularly critical from a sustainability
perspective.
ESG expert opinion
For ESG-critical transactions, particularly projects where an ESG expert opinion has to be issued, the ESG expert opinion
evaluates the ESG impact of the transaction at project and company level, and assesses its impact on the environment and
social issues. It also includes a qualitative assessment and presents a conclusion on whether or not the transaction should be
pursued from an ESG impact point of view. Consequently, the ESG expert opinion provides decision makers with more detailed
information and enables them to consider ESG impacts in their lending decisions. It therefore plays a key role in preventing
negative impacts from an ESG perspective. The assessment in the ESG expert opinion takes the following aspects into account:
industry impact based on the PRB Impact Radar; company and project-related negative impact on key sustainability issues and
their mitigation measures; past and current controversies and incidents; the legal environment (i.e. whether high environmental
and social standards are ensured through EU regulations).
For such cases, the ESG expert opinion is issued by the Sustainable Finance department. At RBI’s subsidiary banks in central and
eastern Europe, the ESG expert opinion is issued by the local ESG experts under the guidance of the Sustainable Finance
department. To formalize and standardize the process, an ESG expert opinion tool has been set up and workshops were held
to train local ESG experts on how to write an ESG expert opinion. In 2025, a total of twenty one expert opinions were issued,
including updates of existing opinions.
The aforementioned actions can be classified as an ongoing process, with no specific time horizons set for their completion.
The actions will persist in the described form, and there are presently no plans to discontinue them.
Greenwashing prevention
RBI has established a process that is intended prevent greenwashing and has rolled it out across the Group as part of the ESG
rulebook. Under the greenwashing prevention check, RBI commits to internal process steps, which must be complied with in the
event of a sustainable transaction with a customer. In particular, ESG experts from the Sustainable Finance department of RBI
AG are involved in the bid, decision and execution phases of a sustainable financing transaction. The greenwashing prevention
check focuses on the structure of sustainable financial products, including products that are designated as green, social,
sustainability-linked or similar. For the definitions of sustainable business transactions, standards such as the Loan Markets
Association guidelines, the ICMA Principles and the EU Taxonomy Regulation were applied. These are used for qualification and
(de)flagging of business transactions and form the basis for the greenwashing prevention process. The greenwashing
prevention check is a precondition for RBI’s involvement in sustainable finance products and must therefore be followed by all
RBI Group members. The check is applied for all sustainable finance products. By involving the RBI AG ESG experts in ESG
transactions, RBI provides a further layer of defense to minimize greenwashing risks and contribute to greenwashing
prevention.
This action can be classified as an ongoing process, with no specific time horizons set for its completion. The action will
continue in the described form and at present no plans exist to discontinue it.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
264 Group management report
Raising awareness – supporting the business units in RBI AG and the subsidiary banks in Central and
Eastern Europe
RBI recognizes the importance of raising awareness about ESG-related topics in the business units, of building up ESG
knowledge internally and of ensuring efficient cooperation within the bank. Accordingly, Corporate ESG Ambassadors have
been established in all the subsidiary banks in Central and Eastern Europe. On the retail side, RBI is actively working towards
creating a knowledge-sharing hub and a broad network of Retail ESG Ambassadors across its operating retail markets. The
primary objectives of the network are to pass on knowledge and information between head office and the subsidiary banks in
CEE, to advertise ESG activities for corporate customers in the CEE region and to support these companies so that they can
leverage the opportunities available to them in the area of ESG trends and combat global climate change to the greatest
possible extent. Besides the basic ESG e-learning modules of RBI’s ESG Academy, the head office provides business-specific
training for the ESG Ambassadors on subjects such as EU Taxonomy compliance, ICMA Sustainable bond principles, current
developments, the circular economy as well as on the various ESG and sustainability-related products.
In addition, monthly update calls are held with the Corporate ESG Ambassadors in order to maintain a dialog on ESG topics. In
addition to the onboarding and in-house upskilling of the ESG Ambassadors within the network, the head office also supports
the subsidiary banks during appointments with customers on sustainable financing issues. Through this close cooperation, RBI
is striving to establish a Group standard for day-to-day business in relation to the sustainable financing area.
On an annual basis, RBI holds a group-wide ESG workshop for the corporate business line. The ESG workshop serves as a key
platform for RBI in supporting the implementation of the climate and environmental business strategy. At the workshop, RBI
shares its future vision for sustainable finance, discusses sustainability actions and shares the future activities required to
implement the climate and environmental business strategy.
Actions for assets under management
Engagement Process
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. is conscious of its fiduciary responsibility to its customers. Engagement is used for
a more careful assessment of a company’s financial situation and development and helps companies move towards
improvement in corporate social responsibility and sustainability. Key actions include, among others, dialog with companies
and the exercise of voting rights.
The overall engagement process is ongoing and integrated into the responsible investment process, with all self-managed
funds of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. being in scope. Engagement activities are documented via the internal
engagement database. The annual engagement report disclosing all relevant activities in this context is published on the
webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/engagementreport-english?fr=sYzk3ZTQ3ODIwNjE).
Investment Proces s
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. has implemented a sustainability strategy focusing on the integration of
sustainability across all business levels (as described in the sustainability policy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
in the chapter E1-2: Policies related to climate change mitigation and adaptation). Actions outlined encompass various
elements of its sustainability framework. Key measures related to the integration of sustainability risks include a defined
process for managing issuers with reputational risks, comprehensive risk management protocols as well as company-wide
negative criteria, whereby the latter comprise the areas of coal, controversial weapons and food speculation.
For assets under management that are subject to dedicated ESG related investment strategies, the sustainable investment
process is outlined in the sustainability strategy document. In 2025 the volume of sustainable fund products amounted to
€ 25.5 billion (2024: € 24.8 billion), while the total assets under management in Austria accounted for € 46.7 billion. Sustainability
is assessed on the basis of the proprietary Raiffeisen ESG indicator. Since this indicator covers both ecological and social
objectives, it is not meaningful to differentiate between the proportions of ecological and social investments in detail.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 265
Sustainable Funds volume

in € million | 2025 | 2024
Total assets under management in Austria | 46,700 | 100% | 44,000 | 100%
Sustainable assets under management | 25,500 | 55% | 24,800 | 56%

In addition to economic factors, the investment process integrates environmental and social factors as well as good corporate
governance. This occurs via implementation of negative criteria to avoid controversial business areas and practices, via a best-
in-class approach that allows for a further integration of ESG research into the selection of securities and via engagement in
order to support change by way of influencing the behavior of companies. In addition, the consideration of principal adverse
impact indicators on sustainability factors is embedded within the investment process for retail funds. The responsible
investment process is based on the end-to-end integration of economic, environmental and social aspects.
The selection of corporate securities is based on three pillars. The first pillar contains the analysis of the proprietary future
transformation topics that derive scores for sectors and subsectors based on a sustainability perspective. The second pillar of
the investment process entails the calculation of the proprietary corporate ESG score, which includes various ratings from
external partners, an analysis of ESG risks, a corporate governance analysis, an evaluation of controversial issues and an
analysis of the contribution to the Sustainable Development Goals. This analysis level includes a pre-selection process for the
overall investment universe. In consideration of sustainability aspects, no company or issuer in this universe may violate the
negative criteria established by Raiffeisen Kapitalanlage-Gesellschaft m.b.H. The assessment of shareholder engagement
forms the third pillar. This combines a combination of three dimensions: the intensity and form of shareholder dialog,
communication (such as the frequency or quality of communication) and the impact of shareholder engagement. Good
corporate governance is a prerequisite for the selection of companies.
The selection of government bonds is based on the company’s proprietary ESG indicator for countries. For the calculation,
various topics were identified that reflect how sustainably countries conduct themselves on terms of both their laws and their
actions towards the environment and their citizens.
For the selection of investment funds from other management companies. quantitative data such as ESG assessments and
information on controversial topics are incorporated into an internal sustainability indicator, to enable the ranking and analysis
of the sustainable investment universe. In addition, a qualitative selection process is conducted, which includes face-to-face
discussions with the managers of other asset management companies.
The actions outlined in the strategy are ongoing. Monitoring of the sustainable investment universe occurs on a daily basis
using the so-called Impact Monitor by MSCI ESG, the investment process is monitored daily via the internal limit system.
Sector-specific actions
Actions on coa l
Raiffeisen Kapitalanlage-Gesellschaft m.b.H.’s policy to phase out coal financing describes stringent criteria for excluding
companies involved in coal activities and aims to reduce the maximum coal-based revenue share of invested companies,
including an exclusion of mining and extraction activities of corporate issuers and a revenue threshold of one per cent for
exploration, distribution and refining activities. The coal exposure of sovereigns is integrated into the investment process via
various ecological factors which are summarized in one dedicated indicator developed by Raiffeisen Kapitalanlage-
Gesellschaft m.b.H. (Raiffeisen ESG Sovereign Indicator).
The negative criteria related to coal are monitored on a daily basis via the limit system.
Actions on climate strategy
As described in E1-2 Climate strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. key actions refer to reducing the CO 2
emissions exposure of the assets in scope in order to achieve the respective targets.
To support its climate strategy, Raiffeisen Kapitalanlage-Gesellschaft m.b.H. conducted an annual engagement dialog with the
20 largest GHG emitters in the portfolio. These were companies that have either not yet made a commitment to the Paris
climate targets or are for other reasons among the 20 largest GHG emitters in the portfolio. Out of the 20 issuers contacted,
engagement dialog with 13 companies were conducted, mainly on the topic of greenhouse gas reduction and business
innovation projects. For more details please refer to the engagement report 2025 published on the webpage (see https://
www.raiffeisenfonds.at/en/topics/sustainability#policies-reports).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
266 Group management report
Own operations
Environmental actions
A variety of options are available to enhance sustainability within RBI. These range from building management and reduction
of energy consumption through to mobility measures and information campaigns for employees. The actions taken to increase
the sustainability of own operations vary across RBI, as the local sustainability management teams are best placed to assess
which actions will have the greatest impact. In general, all actions are designed to be implemented group-wide.
Many actions, such as subsidies for the use of public transport, are measures that are renewed every year. Others are ongoing
processes, such as energy-efficient adaptations for heating and cooling systems, or the increase of renewable energy
purchased.
The implementation rate of the various measures is consistently high, especially in the area of energy saving and energy
efficiency. This provides an important contribution to climate protection and additionally reduces costs at RBI’s sites. The use
of public transport is encouraged in order to reduce CO 2 emissions associated with business trips and travel to work. Bicycle
storage facilities are also offered at all sites. A number of training courses and information platforms for employees are also
offered to improve awareness of climate protection and heighten the commitment to sustainability issues within RBI.
In 2026, further actions will be taken to continue implementing emission reduction strategies, taking into account the different
local market structures and specific emission drivers to optimize local transition pathways.
E1-4: Targets related to climate change mitigation and adaptation
Value chain
Lending portfolio (non-financial corporations)

87 % | · | Target to reduce financed emission intensity by 27 per cent by 2030
of the loan | · | Baseline year 2023
portfolio 1 | · | Includes the counterparts scope 1 and scope 2 emissions
1 Share of gross carrying amount
tCO2e/mn |  |

Target 27 %
In 2025, RBI remains below the 2030 target. Given ongoing improvements in financed emission data quality from its customers
and the inherent volatility of the underlying datasets, no adjustment to the 2025 target is performed at this time. However, RBI
will continue to closely monitor emissions data throughout 2026 and keep any potential restatement of the target under active
review.
RBI is committed to transparently reporting on progress in relation to its climate targets. In 2024, RBI published group-wide
2030 decarbonization targets for financed emissions for the first time, covering operations across the non-financial company
portfolio. This target provides a pathway for reducing operational greenhouse gas emissions in line with our climate ambition.
RBI’s financed emissions targets are at the first stage set for non-financial corporations. This prioritization was performed
based on a materiality assessment.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 267
RBI is currently developing sector-specific transition pathways for its financed emissions in the carbon intensive sectors with
focus on steel, oil and gas business. This work is ongoing and builds on international frameworks and increasing data
availability and robustness.
RBI sets the targets as 27 per cent financed emissions reductions for the non-financial corporations portfolio for the target
year 2030. In setting its emission reductions targets, RBI applied global decarbonization paths based on the portfolio approach.
The cross-sectoral approach in modelling enables RBI to project its GHG emissions for the target year 2030, in order to align
with the 1.5°C pathway, as expected by the EU Legislation. These levers are expected to contribute to achieving RBI’s GHG
emissions reduction target in line with Group policies, as they reflect cross-sectoral projections on the basis of weighted
exposure. The decarbonization path toward the target year 2030 takes into consideration emissions of GHG gases and, in
addition to carbon dioxide, include Kyoto gases under both the NGFS scenario and PCAF standards.
RBI’s approach for setting CO 2 emissions reduction targets is based on Sixth Assessment Report (AR6) of the Intergovernmental
Panel on Climate Change (the IPCC), the Emissions Gap Report (2023) by UNEP, Nationally Determined Contributions in the UN
Framework Convention on Climate Change (UNFCCC) and National Energy and Climate Plans of the EU Member States
submitted to the EU Commission, and Emissions Gap Report (2023) by the United Nations Environment Programme.
While setting its emission reduction target, RBI involved all stakeholders such as Corporate Business, Risk Management, and
Sustainable Finance. The approval body for the target is RBI Management Board.
The process of target setting is defined in chapter E1-1: Transition plan for climate change mitigation, and its major pillars are:
· Science-based, approach compatible with limiting global warming to 1.5°C,
· Target setting is based on a diverse range of climate scenarios to detect relevant environmental, societal,
technology, market and policy-related developments and determine decarbonization levers.
· RBI compares national pledges to net-zero pathways and (as national pledges are often less ambitious than net-
zero scenario decarbonization pathways) RBI applies net-zero scenario reduction pathways
· As a starting point, RBI opted for the overarching target and set it for the non-financial corporations portfolio in line
with the 1.5°C pathway.
· As a PCAF signatory, RBI discloses its financed emissions in GHG (CO 2 e), and therefore scenarios including GHG are
prioritized.
The major scenario RBI has chosen is the Net Zero Orderly Transition scenario of the Network for Greening the Financial System
(NGFS). The NGFS develops its scenarios phase-by-phase, and RBI applied the scenario from Phase 4 to ensure year-on-year
comparability, despite the transition to Phase 5. RBI’s choice, in line with the 1.5°C pathway requirement, has been the Net Zero
Orderly Transition scenario which is an ambitious scenario that limits global warming to 1.4°C in line with AR6 of the IPCC.
RBI aimed to follow best practices and knowledge in the industry through this approach as it noticed that physical emission
intensities, although widely used, do not guarantee the same percentage of decrease in financed emissions that employ a
different metric (tCO 2 e/€ million instead of e.g. kgCO 2 e/kg steel). RBI uses this method to avoid biases in estimation. Another
advantage is lower volatility and comparability to the Partnership for Carbon Accounting Financials (PCAF) standards to date.
As the scenarios for decarbonization do not provide specific guidance for scopes other than Scope 1 (e.g. IEA NZE 2050), RBI
applied a pro-rata decarbonization share for the other scopes. RBI also considers that Scope 3 is more vulnerable to volatility
and double-counting. The volatility of Scope 3 is high. Movements between collected/disclosed and PCAF can be significant.
Scope 3 emissions can vary widely based on external factors, making consistent target setting difficult. In addition,
organizations often have limited control over Scope 3 emissions, which arise from the supply chain and product use. Overall,
this leads to uncertain decarbonization paths and insufficient data availability for input materials and transportation,
especially in complex emission intensive industries. In that respect, targets are set including Scope 1 and Scope 2. RBI remains
committed to monitoring the feasibility of Scope 3 targets and will review their inclusion into reduction targets by 2030.
The RBI portfolio spans multiple countries in Central Europe, Eastern Europe and Southeastern Europe as well as EU and non-EU
countries. At the same time, RBI is a universal bank with no specific industry concentrations. Both factors led to the decision to
steer based on country-wide emission reductions. Nonetheless, RBI will continue its development of sectoral approaches which
are used for internal steering particular to the non-financial corporations portfolio.
Pursuant to the target setting disclosed, in line with the 1.5°C pathway under the IPCC and in line with CSRD provisions, RBI will
track and report its financed emissions and their intensity (in kgCO 2 e/t €) in the next years to disclose how the portfolio is
developing based on the initial settings towards the target year 2030.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
268 Group management report
Reduction target of RBI from 2023 to 2030

| 2030 | 2050
Cross-sector reductions pathway based on the year 2023 as the base year | 27% |

It should be noted that the targets set relate to covered emissions for the non-financial corporations lending portfolio (see
Section E1-6). For the 2023 baseline year, Scope 1 and Scope 2 total financed emissions for the lending portfolio of the non-
financial corporations amounted to 11,3 tCO 2 e. The relevant financed emission intensity for 2023 amounted to 264 tCO 2 e/€
million.
Hence, the 2030 financed emissions intensity as target is: 193 tCO 2 e/€ million (2030 absolute financed emissions: 8,3 tCO 2 e).
Retail mortgage loans
In 2024, RBI began calculating financed emissions for residential real estate in the retail portfolio, thereby establishing a
foundation for future emission target setting. In 2025, RBI continued to prioritize methodological stability and data quality
showing progress in analyzing the financed emissions drivers in close collaboration with its subsidiary banks in EU (Austria, the
Czech Republik, Slovakia, Romania, Hungary and Croatia).
A special focus is on:
· Enhancing the estimates for the non- EPC portfolio. Currently, the overall emission intensity is driven by the portfolio
without EPC labels, which represents the majority.
· Additionally, a need exists to understand the correlation of the national plans with the 1.5°C pathway. RBI will
continue to investigate the underlying drivers, exploring and assessing meaningful options to establish robust
financed emissions targets that support the transition toward net-zero emissions by 2050.
RBI is focused on understanding and monitoring the energy efficiency of the financed properties via EPC collection for new
mortgage lending, with an increasing share of EPC coverage for new transactions. This will also contribute to the enhancement
of the financed emission methodology by relying less on proxy data in the future calculations.
RBI actively supports green mortgage lending across its subsidiary banks – specifically, properties with high-quality EPC
grades– through pricing and other incentive mechanisms, while maintaining social inclusion by not restricting access for
customers with lower-rated properties.
Assets under management - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.

Target – non-financial corporations
58 % | · | Target to reduce financed emission intensity by 50 per cent by 2030
of the investment | · | Baseline year 2020
portfolio 1 | · | Includes counterparties’ Scope 1 and 2 emissions
1 portfolio under operational control
tCO2e/million |  |

Target 50 %
For Raiffeisen Kapitalanlage-Gesellschaft m.b.H., the interim targets as well as the net zero target by 2050 directly contribute
to the climate-neutrality objective. The defined target levels to be achieved are relative targets. These depend on customer
demand for single fund products, the climate-related progress of investee companies and capital market trends. However,
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. will continue to closely monitor emissions data throughout 2026 and keep any
potential restatement of the targets under active review:
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 269
· Reduction of emissions intensity by at least 25 per cent by 2025 (base year: 2020), measured by carbon footprint
(Scope 1 and Scope 2)
· Reduction of emissions intensity by at least 50 per cent by 2030 (base year: 2020), measured by carbon footprint
(Scope 1 and Scope 2)
· Net zero GHG emissions by 2050
The scope of the interim climate targets is limited to all holdings of equities and corporate bonds included in self-managed
retail funds.
The baseline financed emissions intensity value for the self-managed retail funds in 2019 amounted to 123 tCO 2/€ million
invested. For the 2025 reporting period, the financed emissions intensity value (based on 2024 emission values) amounted to 32
tCO 2/€ million invested (compared with 2024 financed emissions intensity value 43 tCO 2/€ million invested). The corresponding
value for the self-managed retail funds in the base year 2020 was € 7.8 billion compared with € 15.3 billion in 2025 (2024:
€ 14.7 billion). As a consequence, the interim target to reduce emissions intensity by at least 25 per cent by 2025 was met.
Own operations
For RBI’s own operations, the CO 2 emission reduction targets are used to steer towards more sustainable business practices.
The emissions generated consist of Scope 1-3 emissions and are reported and calculated according to the Greenhouse Gas
Protocol standard in the ESG Cockpit software.
For the target setting, the SBTi (Science Based Targets Initiative) absolute emissions reduction approach was selected. This
establishes a target to reduce absolute emissions by a specific percentage over a set timeline, aligning with the global carbon
budget needed for a 1.5°C pathway. Reduction targets for own operations were set for Scope 1 and 2 emissions to focus on the
highest emission drivers, such as energy consumption, business travel and waste as well as material usage.
In alignment with the 1.5°C target, RBI has set a reduction pathway of a 42 per cent CO 2 emission reduction in Scope 1 and
Scope 2 by 2030. The base year 2024 value of RBI’s combined Scope 1 and 2 emissions amounted to 33,929 tCO 2.
Due to the expansion of RBI’s consolidation scope for reporting according to the CSRD 2024 was set as the new baseline. Due to
this shift, comparisons to previous years are not possible.
E1-5: Energy consumption and mix
Own operations
RBI’s energy consumption compared to the base year 2024 can be seen in the following table:

| 2025 | 2024 1 | 2024 2
Fuel consumption from coal and coal products (MWh) | 76 | 14 | 14
Fuel consumption from crude oil and petroleum products (MWh) | 19,914 | 20,745 | 20,745
Fuel consumption from natural gas (MWh) | 10,940 | 9,097 | 9,097
Fuel consumption from other fossil sources (MWh) | 5 | 1 | 1
Consumption of purchased or acquired electricity, heat, steam, or cooling from fossil sources (MWh) | 56,617 | 62,939 | 60,775
Total fossil energy consumption (MWh) | 87,552 | 92,796 | 90,632
Share of fossil sources in total energy consumption (%) | 52 % | 54% | 53%
Consumption from nuclear sources (MWh) | 11,391 | 14,052 | 15,094
Share of consumption from nuclear sources in total energy consumption (%) | 7% | 8% | 9%
Fuel consumption for renewable sources, including biomass (MWh) | 27 | 5 | 66
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) | 67,573 | 64,181 | 64,572
Consumption of self-generated non-fuel renewable energy (MWh) | 801 | 559 | 559
Total renewable energy consumption (MWh) | 68,402 | 64,746 | 65,197
Share of renewable sources in total energy consumption (%) | 41% | 38% | 38%
Total energy consumption excluding nuclear (MWh) | 155,953 | 157,541 | 155,829

1 previous year revised: Adjustments due to data correction
2 figures as reported in the consolidated non-financial statement 2024
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
270 Group management report
E1-6: Gross GHG emissions of categories Scope 1, 2, and 3 as well as total GHG
emissions
Value chain
Since 2020, RBI has calculated and published its Scope 3 Category 15 financed GHG emissions, in other words, the indirect
downstream emissions associated with its lending and investment activities. This represents an important step in identifying
sectors on which RBI should focus in its effort to mitigate the negative impact on the environment of its customers’ activities.
The methodology applied is based on the PCAF standard – the most widely accepted, GHG Protocol-compliant standard for
financed emissions calculations. For the 2025 year-end publication, the main scope and methodology changes are highlighted:
· Historic collateral values are taken into consideration in the mortgage asset class calculation.
· Vehicle loans are included in financed emissions calculation as general business loans.
· The avoided emissions exposure is included in the financed emission intensity calculation. This exposure is equivalent
to zero emission operations and related zero financed emissions .
An overview of the asset classes in scope for the year-end 2025 calculations is provided below, with an indication of the
coverage achieved in each asset class. Coverage of less than 100 per cent is the result of the emissions calculations according
to the PCAF not being applicable to a specific asset category or data gaps.
Financed emissions asset distribution and coverage

2025 | Gross carrying amount | Covered by financed emissions | Not covered by financed emissions
in € million
Central banks | 8,462 | 0 | 0.0% | 8,462 | 100.0%
Central government | 39,855 | 32,346 | 81.2% | 7,510 | 18.8%
Credit institutions | 8,723 | 6,966 | 79.9% | 1,757 | 20.1%
Other financial corporations | 11,799 | 6,570 | 55.7% | 5,229 | 44.3%
Non-financial corporations | 49,896 | 43,562 | 87.3% | 6,334 | 12.7%
Households | 45,066 | 27,795 | 61.7% | 17,271 | 38.3%
Accumulated impairment | (2,301) | 0 | 0.0% | (2,301) | 100.0%
Accumulated other comprehensive income | 50 | 0 | 0.0% | 50 | 100.0%
Financial assets excluding trading assets | 161,549 | 117,238 | 72.6% | 44,311 | 27.4%
Other balance sheet positions | 48,715 | 6,517 | 13.4% | 42,199 | 86.6%
Total assets | 210,265 | 123,755 | 58.9% | 86,510 | 41.1%

2024 | Gross carrying amount | Covered by financed emissions | Not covered by financed emissions
in € million
Central banks | 14,177 | 0 | 0.0% | 14,177 | 100.0%
Central government | 32,232 | 26,321 | 81.7% | 5,911 | 18.3%
Credit institutions | 8,458 | 7,128 | 84.3% | 1,330 | 15.7%
Other financial corporations | 11,847 | 7,672 | 64.8% | 4,174 | 35.2%
Non-financial corporations | 47,799 | 40,737 | 85.2% | 7,062 | 14.8%
Households | 41,040 | 25,727 | 62.7% | 15,313 | 37.3%
Accumulated impairment | (2,870) | 0 | 0.0% | (2,870) | 100.0%
Accumulated other comprehensive income | 27 | 0 | 0.0% | 27 | 100.0%
Financial assets excluding trading assets | 152,709 | 107,585 | 70.5% | 45,123 | 29.5%
Other balance sheet positions | 47,142 | 5,761 | 12.2% | 41,381 | 87.8%
Total assets | 199,851 | 113,347 | 56.7% | 86,504 | 43.3%

In total, RBI’s financed GHG emissions calculations covered 58.9 per cent of RBI’s total assets (previous year: 56.7 per cent).
Covered exposures are defined as those gross carrying amounts which could be mapped to PCAF asset classes and for which
the calculation of financed emissions was performed successfully. PCAF asset classes cover exposures to loans and advances,
debt securities and equity not held for trading from central banks, credit institutions, other financial corporations, non-
financial corporations and household mortgage loans. The PCAF standard sets out requirements for determining the portion of
customers’ emissions that can be attributed to a financial institution. Customer-specific GHG emissions data were used in the
calculation where available. These data allowed a more precise assessment of financed emissions, although availability was
still limited. For close to 36 per cent of covered exposure in corporate PCAF asset classes, Scope 1 and 2 financed emissions
were calculated on the basis of data collected from customers (previous year: 31 per cent), while the remainder had to be
estimated on the basis of methodologies set out in the PCAF standard. RBI conducts an extensive data collection exercise in an
effort to constantly improve the quality of its calculations. Estimates for customer Scope 1, 2 and 3 emissions were derived
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 271
using emission factors, representing average (physical or economic activity-based) emissions intensity values for specific
industries and countries. RBI’s main source of emission factors was the PCAF database.
The gross carrying amount covered, excluding central government, increased by 5.0 per cent and related financed emissions (in
Scope 1 and Scope 2) decreased to 9.2 million tons of CO 2 e (pervious year: 10.2 tons of CO 2 e). The PCAF parameters from
September 2024 were applied in the latest financed emissions calculation for corporate exposures. The value for the PCAF data
quality score, a measure of the quality of data used to estimate financed emissions, remained at a similar level of 3.6 (previous
year: 3.6).
Sovereign emissions were calculated according to the PCAF standard using emission factors available in the PCAF emission
factor database. Sovereign Scope 1 production financed emissions were disclosed twice, in line with PCAF requirements, with
the first calculation including the net effect of the land use, land use change and forestry sectors, while this effect was
excluded in the second calculation. The results obtained amounted to 15.2 million tons of CO 2 e (pervious year: 12.9 tons of CO 2 e)
if the net effect of land use, land use change and forestry was included, and 16.5 million tons of CO 2 e if these sectors were
excluded (previous year: 14.1 tons of CO 2 e). Emission factors were primarily sourced from the PCAF database and represent the
emission intensity of the countries’ respective economies. The high data quality score achieved reflected the good quality of
the underlying data, obtained directly from the GHG inventories that countries regularly maintain. It is also important to
highlight that, to some extent, the sovereign emissions can be expected to overlap with those of RBI’s portfolio, provided that
activities at the source of the corporate emissions are located in countries and sectors covered by the national GHG
inventories.
For this reason, the emissions of the asset class sovereign debt are not included in the total sums of financed emissions in the
following tables (such as financed emissions by PCAF asset classes, total greenhouse gas emissions in detail etc.) in order to
avoid double counting of uncertain magnitude. The financed emissions of the asset class sovereign debt are transparently
reported below the line total.Avoided emissions are included financed emission intensity calculation. This exposure is
equivalent to zero emission operations and related zero financed emissions. In line with the GHG Protocol, no netting with
positive emissions from the portfolio was performed. The total avoided Scope 1 and 2 emissions amount to 0.5 million tons of
CO 2 e (gross carrying amount 698 in € million). These are generated by investing in renewable energy projects and measure the
emissions that would have been created in the absence of the respective projects.
Financed emissions by PCAF asset classes

2025 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/€ million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 1,2 | Scope 1, 2 | Scope 3
| 2025 | 2024 | 2025 | 2025 | 2025 | 2024 | 2025 | 2025
Business loans | 47,158 | 46,830 | 7,938 | 20,279 | 168 | 193 | 3.3 | 3.4
Corporate bonds | 6,140 | 6,239 | 271 | 1,173 | 44 | 41 | 3.4 | 3.4
Commercial real estate | 7,440 | 6,737 | 188 | 6 | 25 | 27 | 4.0 | —
Project finance | 37 | 1 | 15 | 0 | 395 | 51 | 3.0 | —
Mortgages | 27,593 | 25,530 | 762 | 0 | 28 | 27 | 3.8 | —
Avoided emissions | 698 | 501 | 0 | 0 | 0 | 0 | 3.0 | —
Total | 89,065 | 85,839 | 9,173 | 21,458 | 103 | 122 | 3.6 | 3.4
Sovereign - incl. LU | 34,690 | 27,508 | 15,168 | — | 437 | 470 | 1.2 | —
Sovereign - excl. LU | 34,690 | 27,508 | 16,490 | — | 475 | 511 | 1.2 | —

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
272 Group management report

2024 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/€ million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 1,2 | Scope 1, 2 | Scope 3
| 2024 | 2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024
Business loans | 46,830 | 49,984 | 9,039 | 20,864 | 193 | 223 | 3.4 | 3.5
Corporate bonds | 6,239 | 4,147 | 257 | 954 | 41 | 161 | 3.6 | 3.6
Commercial real estate | 6,737 | 6,634 | 182 | 0 | 27 | 24 | 4.0 | —
Project finance | 1 | 9 | 0 | 0 | 51 | 436 | 3.0 | —
Mortgages | 25,530 | — | 698 | 0 | 27 | 0 | 3.9 | —
Avoided emissions | 501 | 348 | 0 | 0 | — | — | 3.0 | —
Total | 85,839 | 61,123 | 10,175 | 21,818 | 119 | 199 | 3.6 | 3.5
Sovereign - incl. LU | 27,508 | 21,768 | 12,926 | — | 470 | 234 | 1.2 | —
Sovereign - excl. LU | 27,508 | 21,768 | 14,056 | — | 511 | 253 | 1.2 | —

The table above shows the results of RBI’s financed emissions calculations. RBI would like to point out that the Scope 3
financed emissions imply double-counting of emissions in a bank’s own portfolio. This is because some of RBI’s customers’
Scope 3 emissions will already be accounted for in the Scope 1 and Scope 2 of other RBI customers in cases where the latter
have formed part of the former’s value chain – either upstream (as suppliers) or downstream (as customers).
RBI has been striving to stabilize the data quality, the calculation framework and the scope of own financed emission
calculations. RBI also understands that the measure of PCAF data quality and the financed emissions results have not been
exclusively driven by own efforts, but also reflect the soundness and comprehensiveness of the data RBI depends on, namely
customers’ own disclosures and external databases.
The table below shows the distribution of financed emissions by NACE sector classification within the PCAF asset classes of
business loans and unlisted equity, listed equity and corporate bonds, project finance, commercial real estate and avoided
emissions. It should be noted that the emissions of the sovereign debt asset class are not included in the total sum of financed
emissions in the table below, in order to avoid double counting of uncertain magnitude. The emissions of this asset class are
transparently presented in the table Financed emissions by PCAF asset classes.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 273
Financed emissions by NACE sector

2025 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/ € million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
| 2025 | 2024 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025
Financial and insurance activities | 14,010 | 15,891 | 312 | 631 | 22.3 | 46.0 | 3.8 | 3.9
Manufacturing | 8,891 | 8,674 | 2,715 | 5,215 | 305.3 | 586.7 | 3.2 | 3.3
Wholesale and retail trade; repair of motor vehicles and motorcycles | 8,839 | 8,615 | 2,122 | 8,054 | 240.1 | 919.1 | 3.3 | 3.3
Real estate activities | 8,276 | 7,690 | 214 | 285 | 25.8 | 91.0 | 3.9 | 3.8
Professional, scientific and technical activities | 6,117 | 5,778 | 757 | 3,421 | 123.7 | 624.7 | 2.8 | 2.8
Transportation and storage | 3,192 | 2,889 | 441 | 893 | 138.2 | 291.0 | 3.0 | 3.0
Electricity, gas, steam and air conditioning supply | 2,342 | 2,111 | 741 | 565 | 316.5 | 305.4 | 3.0 | 3.1
Information and communication | 1,922 | 1,742 | 37 | 155 | 19.4 | 81.5 | 3.0 | 3.3
Administrative and support service activities | 1,625 | 1,248 | 98 | 264 | 60.2 | 165.1 | 3.1 | 3.5
Construction | 1,623 | 1,277 | 64 | 311 | 39.7 | 301.4 | 3.8 | 3.8
Agriculture, forestry and fishing | 1,181 | 1,107 | 644 | 447 | 545.7 | 379.2 | 3.6 | 3.9
Activities of extraterritorial organisations and bodies | 1,026 | 828 | 0 | 0 | 0.1 | 0.5 | 3.5 | 3.5
Human health and social work activities | 484 | 463 | 23 | 69 | 46.9 | 143.2 | 3.4 | 3.5
Activities of households as employers; undifferentiated goods- and services- producing activities of households for own use | 479 | 399 | 14 | 0 | 29.1 | 193.2 | 4.0 | 4.0
Accommodation and food service activities | 448 | 352 | 12 | 30 | 26.8 | 159.1 | 3.9 | 3.7
Water supply; sewerage, waste management and remediation activities | 364 | 285 | 66 | 224 | 180.1 | 614.1 | 3.1 | 3.1
Mining and quarrying | 361 | 492 | 135 | 863 | 375.1 | 2,390.9 | 2.3 | 2.3
Arts, entertainment and recreation | 111 | 179 | 4 | 11 | 39.5 | 98.3 | 4.0 | 4.0
Other service activities | 107 | 244 | 9 | 15 | 80.0 | 163.1 | 3.5 | 3.4
Education | 57 | 36 | 3 | 4 | 57.2 | 61.7 | 4.0 | 4.0
Public administration and defence; compulsory social security | 16 | 8 | 0 | 1 | 21.3 | 101.4 | 4.0 | 4.0
Total | 61,472 | 60,308 | 8,412 | 21,458 | 136.8 | 402.6 | 3.4 | 3.4

2024 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/ € million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
| 2024 | 2023 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024
Financial and insurance activities | 15,891 | 15,130 | 526 | 878 | 33.1 | 56.4 | 3.8 | 3.9
Manufacturing | 8,674 | 9,279 | 2,972 | 5,837 | 342.6 | 673.8 | 3.1 | 3.3
Wholesale and retail trade; repair of motor vehicles and motorcycles | 8,615 | 9,031 | 2,105 | 8,299 | 244.3 | 966.4 | 3.2 | 3.3
Real estate activities | 7,690 | 7,997 | 226 | 216 | 29.4 | 70.0 | 3.9 | 3.9
Professional, scientific and technical activities | 5,778 | 6,000 | 853 | 2,812 | 147.7 | 543.9 | 2.9 | 2.9
Transportation and storage | 2,889 | 2,585 | 521 | 809 | 180.3 | 290.9 | 3.3 | 3.5
Electricity, gas, steam and air conditioning supply | 2,111 | 1,866 | 1,143 | 1,395 | 541.6 | 793.4 | 3.1 | 3.1
Information and communication | 1,742 | 1,934 | 40 | 151 | 22.9 | 89.2 | 3.2 | 3.3
Construction | 1,277 | 1,525 | 70 | 283 | 55.2 | 302.5 | 3.8 | 3.8
Administrative and support service activities | 1,248 | 1,444 | 41 | 121 | 33.0 | 102.1 | 3.5 | 3.9
Agriculture, forestry and fishing | 1,107 | 1,282 | 650 | 399 | 587.4 | 361.4 | 3.9 | 3.9
Activities of extraterritorial organisations and bodies | 828 | 1 | 0 | 0 | 0.1 | 0.5 | 3.5 | 3.5
Mining and quarrying | 492 | 628 | 190 | 381 | 387.4 | 776.9 | 3.3 | 3.3
Human health and social work activities | 463 | 552 | 25 | 59 | 53.4 | 128.3 | 3.9 | 4.0
Activities of households as employers; undifferentiated goods- and services- producing activities of households for own use | 399 | 460 | 14 | 0 | 36.1 | — | 4.0 | —
Accommodation and food service activities | 352 | 375 | 10 | 27 | 27.1 | 161.5 | 3.8 | 3.7
Water supply; sewerage, waste management and remediation activities | 285 | 437 | 63 | 76 | 219.5 | 268.3 | 3.7 | 3.7
Other service activities | 244 | 231 | 12 | 46 | 48.9 | 595.2 | 3.7 | 3.2
Arts, entertainment and recreation | 179 | 207 | 10 | 21 | 55.2 | 119.7 | 4.0 | 4.0
Education | 36 | 40 | 6 | 5 | 159.9 | 132.7 | 4.0 | 4.0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
274 Group management report

2024 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/ € million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
| 2024 | 2023 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024
Public administration and defence; compulsory social security | 8 | 121 | 0 | 1 | 30.7 | 121.1 | 4.0 | 4.0
Total | 60,308 | 61,123 | 9,477 | 21,818 | 157.2 | 411.1 | 3.5 | 3.5

In addition, the distribution of the financed emissions calculation results is shown below, distributed across the top ten
countries of RBI by exposure. It should be noted that the emissions of the sovereign debt asset class are not included in the
total sum of financed emissions in the table below, in order to avoid double counting of uncertain magnitude. The emissions of
this asset class are presented in the table Financed emissions by PCAF asset classes.
Financed emissions by country

2025 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/ € million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
| 2025 | 2024 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025
Austria | 19,513 | 19,794 | 1,302 | 3,059 | 66.7 | 259.8 | 3.5 | 3.3
Czech Republic | 13,850 | 12,651 | 1,003 | 1,192 | 72.4 | 234.1 | 3.8 | 3.6
Slovakia | 12,613 | 11,559 | 830 | 1,158 | 65.8 | 283.6 | 3.7 | 3.7
Romania | 6,992 | 6,543 | 736 | 1,964 | 105.2 | 486.6 | 3.4 | 3.3
Hungary | 6,154 | 5,095 | 665 | 2,111 | 108.1 | 507.6 | 3.3 | 3.3
Germany | 4,307 | 3,941 | 405 | 2,662 | 94.0 | 685.2 | 3.1 | 3.1
Serbia | 2,375 | 1,940 | 621 | 978 | 261.5 | 539.8 | 3.6 | 3.7
United States | 2,355 | 2,422 | 21 | 508 | 9.0 | 216.0 | 3.8 | 3.8
Croatia | 2,349 | 2,083 | 205 | 673 | 87.1 | 532.2 | 3.5 | 3.4
Luxembourg | 2,148 | 2,637 | 136 | 123 | 63.5 | 63.7 | 3.7 | 3.7
Rest of the world | 16,410 | 17,172 | 3,249 | 7,030 | 198.0 | 544.5 | 3.5 | 3.5
Total | 89,065 | 85,839 | 9,173 | 21,458 | 103.0 | 402.6 | 3.6 | 3.4

2024 | Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/ € million | Weighted data quality (High = 1 , Low= 5)
in € million |  |  | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
| 2024 | 2023 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024
Austria | 19,794 | 12,359 | 1,468 | 2,491 | 74.2 | 203.4 | 3.6 | 3.4
Czech Republic | 12,651 | 6,839 | 957 | 963 | 75.7 | 203.5 | 3.9 | 3.8
Slovakia | 11,559 | 5,365 | 766 | 1,169 | 66.2 | 301.2 | 3.8 | 3.8
Romania | 6,543 | 4,424 | 720 | 1,934 | 110.0 | 494.3 | 3.5 | 3.4
Hungary | 5,095 | 4,409 | 706 | 2,535 | 138.6 | 720.7 | 3.5 | 3.5
Germany | 3,941 | 4,287 | 312 | 2,461 | 79.1 | 639.7 | 3.0 | 3.1
Luxembourg | 2,637 | 2,052 | 124 | 122 | 47.2 | 53.7 | 3.7 | 3.8
Russia | 2,563 | 2,847 | 1,017 | 1,380 | 396.7 | 820.4 | 3.6 | 3.6
United States | 2,422 | 1,420 | 20 | 439 | 8.4 | 181.6 | 3.7 | 3.8
Croatia | 2,083 | 1,202 | 182 | 483 | 87.4 | 431.6 | 3.5 | 3.5
Rest of the world | 16,549 | 15,917 | 3,902 | 7,840 | 235.8 | 583.7 | 3.5 | 3.5
Total | 85,839 | 61,123 | 10,175 | 21,818 | 118.5 | 411.1 | 3.6 | 3.5

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 275
Assets under Management - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Financed emissions asset distribution and coverage

2025 | Gross carrying amount | Covered by financed emissions | Not covered by financed emissions
in € million
Assets | 26,268 | 19,507 | 74% | 6,761 | 26%

2024 | Gross carrying amount | Covered by financed emissions | Not covered by financed emissions
in € million
Assets | 25,838 | 19,027 | 74% | 6,811 | 26%

The table above show the results of the financed emissions asset distribution and coverage within Raiffeisen Kapitalanlage-
Gesellschaft m.b.H. In total, the coverage of financed GHG emissions was stable compared to the previous reporting period,
representing € 19.5 billion or 74 per cent of Raiffeisen Kapitalanlage-Gesellschaft m.b.H.’s total portfolio under operational
control (€ 26.3 billion), while total assets under management in Austria amounted to € 46.5 billion during the reporting period.
Covered exposure (or: coverage) refers to gross carrying amounts that can be assigned to PCAF asset classes and for which
financed emissions were successfully calculated. Coverage below 100 per cent arises when PCAF emissions calculations are
inapplicable to certain asset classes or when data gaps exist.
Financed emissions by PCAF asset classes

| Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/€ million | Weighted data quality (High = 1 , Low= 5)
in € million | 2025 | 2024 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
Listed equity and corporate bonds | 19,507 | 19,027 | 752 | 10,594 | 39 | 543 | 1.25 | 2.67
hereof target related | 15,329 | 14,676 | 491 | — | 32 | — | 1.26 | —

| Gross carrying amount covered by emissions calculation | Financed emissions in thousand tCO 2 e | Emission intensity tCO 2 e/€ million | Weighted data quality (High = 1 , Low= 5)
in € million | 2024 | 2023 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3 | Scope 1, 2 | Scope 3
Listed equity and corporate bonds | 19,027 | 17,357 | 928 | 9,761 | 49 | 513 | 1.14 | 2.73
hereof target related | 14,676 | 13,727 | 630 | — | 43 | — | 1.14 | —

As shown in the tables above the gross carrying amount covered by emissions calculations amounted to € 19,507 million in
2025, of which € 15,329 million of assets under management were in scope of targets related to climate change mitigation and
adaptation (for more details see E 1-4: Targets related to climate change mitigation and adaptation). The intensity of Scope 1
and 2 emissions decreased by 20 per cent to 39 tCO 2 e/€ million for listed equity and corporate bonds and by 26 per cent to 32
tCO2e/€ million for target related assets. This development reflects the continued focus on the company’s path towards net
zero.
The PCAF data quality score represents the quality of data used to estimate financed emissions and remained at a similar level
of 1.25 for Scope 1 and 2 emissions (previous year: 1.14) and 2.67 for Scope 3 emissions (previous year: 2.73).
Own operations
Greenhouse gas emissions from own operations
The data relating to own operations is collected for RBI, which includes the network banks in Central and Eastern Europe, the
head office and the material Austrian subsidiaries. Since 2024, RBI has been collecting and disclosing cloud and data center
service emissions in an effort to improve understanding and raise awareness concerning the connection between IT and
sustainability. The granularity of the available data is expected to improve over the coming years as suppliers are increasingly
able to disaggregate emissions attached to their services. Details regarding Scope 1, 2 and 3 emissions from own operations
can be found in the total greenhouse gas emissions table below.
As in the previous year, quantitative data relating to own operations were collected using the ESG Cockpit software. The
resulting Scope 1-3 emissions are calculated on the basis of the ecoinvent v.3.10. The environmental indicators include data for
the head office and the subsidiaries in Central and Eastern Europe, thus covering 98.4 per cent of the employees.
Data quality is collected on the basis of three grades: the best data quality is grade 1 (exact), followed by grade 2 (calculated)
and 3 (estimated). For RBI’s own operations data, the value is exact and calculated. No areas are classified in the lowest grade
3 (estimated) in terms of data quality.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Total greenhouse gas emissions in detail
The table below consolidates RBI’s financed emissions and the emissions from own operations. Compared to the base year,
own operations emissions in Scope 1 and Scope 2 were reduced by 7 per cent in 2025, in line with the reduction pathway until
2030.

| Base year 2024 1 | Base year 2024 2 | 2025 | Change | 2030 | Annual % target/ Base year
Scope 1 GHG emissions |  |  |  |  |  |  |
Gross Scope 1 GHG emissions (tCO 2 e) | 9,375 | 9,375 | 9,702 | 327 | 3% | 5,429 | (10)%
Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) | —% | —% | — |  |  |  |
Scope 2 GHG emissions |  |  |  |  |  |  |
Gross location-based Scope 2 GHG emissions (tCO 2 eq) | 21,804 | 43,634 | 41,412 |  |  |  |
Gross market-based Scope 2 GHG emissions (tCO 2 eq) | 23,419 | 24,554 | 21,905 | (2,649) | (11)% | 14,602 | (10)%
Significant Scope 3 GHG emissions |  |  |  |  |  |  |
Total Gross indirect (Scope 3) GHG emissions (tCO 2 eq) | 32,100,872 | 32,100,807 | 30,761,266 | (1,339,541) | (4)% |  |
1. Purchased goods and services | 1,494 | 1,497 | 1,433 | (64) | (4)% |  |
1a Cloud computing and data centre services 3 | 51,084 | 51,084 | 71,293 | 20,209 | 40% |  |
2. Capital goods | 7,573 | 7,573 | 10,506 | 2,933 | 39% |  |
3. Fuel- and energy-related activities (not included in scope 1 or scope 2) | 14,707 | 15,115 | 15,058 | (57) | 0% |  |
4. Upstream transportation and distribution | 1,983 | 1,748 | 2,638 | 890 | 51% |  |
5. Waste generated in operations | 3,288 | 3,069 | 4,169 | 1,100 | 36% |  |
6. Business travel | 7,967 | 7,943 | 6,704 | (1,239) | (16)% |  |
7. Employee commuting | 19,737 | 19,737 | 19,443 | (294) | (1)% |  |
8. Upstream leased assets | 43 | 43 | 85 | 42 | 98% |  |
9. Downstream transportation | 0 | 0 | — |  |  |  |
10. Processing of sold products | 0 | 0 | — |  |  |  |
11. Use of sold products | 0 | 0 | — |  |  |  |
12. End-of-life treatment of sold products | 0 | 0 | — |  |  |  |
13. Downstream leased assets | 0 | 0 | — |  |  |  |
14. Franchises | 0 | 0 | — |  |  |  |
15. Investments | 31,992,997 | 31,992,997 | 30,631,175 | (1,361,822) | (4)% |  |
Total GHG emissions |  |  |  |  |  |  |
Total GHG emissions (location-based) (tCO 2 e) | 32,132,052 | 32,153,816 | 30,812,380 | (1,319,671) | (4)% |  |
Total GHG emissions (market-based) (tCO 2 e) | 32,133,666 | 32,134,736 | 30,792,873 | (1,340,793) | (4)% |  |

1 figures as reported in the consolidated non-financial statement 2024
2 previous year revised: Adjustment due to data correction
3 In 2024, cloud-related emission data was collected for the first time from two of three providers. Due to monthly usage fluctuations, estimating the missing data was not possible.
GHG intensity per net revenue

GHG intensity per net revenue | 2025 | 2024
Total GHG emissions (location-based) per net revenue (tCO 2 e/€ ) | 0.003 | 0.004
Total GHG emissions (market-based) per net revenue (tCO 2 e/€ ) | 0.003 | 0.004

The net revenues amounting to € 9,097 million (previous year: € 8,701 million), which served as the basis for calculating the GHG
intensity, are reported under operating income in the income statement in the consolidated financial statements. It should be
noted that the emissions of the sovereign debt asset class are not included in the total sum of financed GHG emissions in the
tables above, in order to avoid double counting of uncertain magnitude. The emissions of this asset class are presented in the
table Financed emissions by PCAF asset classes.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Biodiversity and ecosystems
E4-2: Policies related to biodiversity and ecosystems
Value chain

Policy | Biodiversity policy
General objective | Defines RBI’s vision and goals related to measuring, awareness, materiality assessment and managing its dependencies and footprint related to biodiversity and ecosystem services. The aim relates to the contribution of RBI and the engaging of its customers to enhance protection of natural capital and biodiversity, while acting in line with the Principles of Responsible Banking and UNEP FI.
Related IRO | Biodiversity and ecosystems
Key contents | The policy aims to define the scope , measure and assess materiality and set the scope for actions related to biodiversity dependencies and the footprint of the RBI portfolio. The part related to dependencies is to contain risk mitigation measures. The part related to the footprint is to specify the scope of impact, denote key awareness areas and set the direction towards minimizing negative impacts and enhancing positive impacts on biodiversity and natural capital, including customer engagement. With the later, the exclusion list has been defined for nature-harming activities, which RBI does not finance.
Process for monitoring | The policy is based on the science-based approach to biodiversity dependencies and footprint measurement. Key methods and tools are based on the PBAF; tools include ENCORE for dependencies and EXIOBASE for footprint assessment.
Scope / Exclusions | Exclusion list specified in the biodiversity policy for a range of activities that produce significant negative impacts on natural capital and biodiversity.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Customers
Most senior level responsible | Head of Group Financial Institutions, Country & Portfolio Management, Board Level
Reference to third party standards | UNEP FI, PRB; EBA Guidelines for ESG Risk Management; RBI acknowledges and seeks alignment with internationally acclaimed standards, such as the Nature Target Setting Framework. This framework is in line with the missions of the Global Biodiversity Framework, the Taskforce on Nature-related Financial Disclosures (TNFD), Science Based Targets Network (SBTN) and leading net zero frameworks
Consideration of key stakeholders | -
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

RBI’s biodiversity policy in its first version was adopted in 2025, and is undergoing development in line with the availability and
enhancement of the tools and methods for measuring dependencies and impacts, the assessment of materiality and possible
future RBI goals related to climate, environment and nature.
The policy is consolidated by Group Risk Management in coordination with the respective business lines as well as with Group
Sustainability Management. This is to ensure harmonization with legal requirements as well as with voluntary commitments
such as the UNEP FI’s principles for responsible banking.
Policies for assets under management
Topic-specific policy

Policy | Biodiversity strategy – Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy sets the objectives and actions Raiffeisen Kapitalanlage-Gesellschaft m.b.H. is undertaking to contribute to the protection of biodiversity and natural capital, while actively supporting its essential transformation as a responsible participant in the financial market.
Related IRO | Biodiversity and ecosystems
Key contents | Nature-related risks and opportunities, international frameworks, targets and measures, limitations
Process for monitoring | Annual reporting and disclosing of measure achievements and objectives
Scope / Exclusions | All listed corporate bonds and equities in self-managed Raiffeisen Kapitalanlage-Gesellschaft m.b.H. mutual funds (i.e. listing on a regulated market). Out of scope: investments in sovereigns as well as special funds (for the latter any agreements concluded with the investor are taken into account)
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of Corporate Responsibility within Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | In accordance with Finance for Biodiversity Target Setting Framework
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://a.storyblok.com/f/314998/x/d5d0226b83/strategie-biodiversitaet-en.pdf).

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
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Process policies
Engagement strategy
The engagement strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2 Policies related to climate
change mitigation and adaptation outlines the measures and actions taken to effectively conduct engagement activities as
part of the company’s fiduciary obligations in relation to its customers and is related to the IRO biodiversity and ecosystems,
among others.
Sustainability strategy
The sustainability strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2 Policies related to climate
change mitigation and adaptation outlines the company’s framework for integrating sustainability at organizational and
product level and is related to the IRO biodiversity and ecosystems, among others.
E4-3: Actions and resources related to biodiversity and ecosystems
Value chain
While acting within the framework of the PRB, RBI aims to take actions to minimize and reverse biodiversity loss as well as to
pursue the recovery of nature for the benefit of environment and society.
To support this, a number of key pillars are highlighted in the biodiversity policy:
· Key definitions and targets
· Assessment of RBI portfolio dependencies from ecosystem services, thereby creating biodiversity risks awareness
· A heat map depicting the riskiness of RBI exposure versus ecosystem services in various sectors
· Assessment of materiality of these risks and setting mitigation measures for the management of such risks
· Defining the exclusion list for activities harmful for biodiversity and nature, which RBI does not finance
· Assessing the biodiversity impact (footprint) of the RBI portfolio in sector-region clusters and assessing the
materiality of the biodiversity footprint at RBI level
· Raising corresponding awareness within the Group and defining a roadmap for nature-protecting actions, including
in own operations and customer engagement
For further information, see the chapter Sector policies a nd the materiality assessment of risks.
Actions for assets under management
The biodiversity strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. was updated in 2025 and aims at continuing on the
path towards incorporating biodiversity and nature-related impacts, risks and dependencies in organizational processes on a
portfolio level. The current assets in the scope of this policy refer to holdings of corporate issuers (listed on regulated markets)
of self-managed mutual funds.
In 2025, Raiffeisen Kapitalanlage-Gesellschaft m.b.H. developed a comprehensive training program on biodiversity and natural
capital in the context of asset management, which was initially rolled out within the Sustainability Office. Biodiversity was
incorporated into the annual principal adverse impact engagement process to increase transparency and awareness within
selected investee companies. A materiality assessment identified key impacts and dependencies and the results were
published in RBI’s biodiversity policy. The progress on the initiation targets for 2025 as well as interim targets for 2026 were
disclosed in the updated biodiversity policy.
The achievement of the initiation objectives set for 2025 as well as the interim objectives for 2026 were disclosed in the
updated biodiversity policy (see https://a.storyblok.com/f/314998/x/d5d0226b83/strategie-biodiversitaet-en.pdf).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 279
E4-4: Targets related to biodiversity and ecosystems
Value chain
In 2025, RBI completed the measurement and created awareness of its dependencies related to ecosystem services, as well as
a set of measures for mitigation and management of these risks. These results, combined with the second stage of
measurement (footprint analysis), will be used for setting biodiversity targets and a roadmap of actions in the future.
Assets under management
For 2026, the interim targets of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. (RKAG), which are aligned with the Finance for
Biodiversity Pledge, include training of employees responsible for the development and implementation of the investment
process on biodiversity and natural capital within the context of asset management, thereby facilitating focused engagement
with investee companies through tailored questionnaires as well as preparing the implementation of a proprietary factor to
address main drivers of biodiversity loss and enhance investment transparency. Disclosure of the progress on interim targets
as well as further actions will be disclosed in an updated biodiversity policy.
RKAG’s interim targets are aligned with the Nature Target Setting Framework of the Finance for Biodiversity Foundation, which
is based on the requirements of the Global Biodiversity Framework (GBF), the Taskforce on Nature-related Financial Disclosures
(TNFD), the Science Based Targets Network (SBTN) and leading net zero frameworks. The company’s pathway towards nature-
positivity, supported by the initiation targets for 2025 and the interim targets for 2026, is designed to address the main
impacts and dependencies to which the assets in scope (i.e. equities and corporate bonds listed on a regulated market) are
exposed according to the materiality assessment conducted in 2025, which essentially correspond to pollution, emissions of
toxic soil and water pollutants as well as emissions of non-GHG air pollutants for impacts on the one hand, and water flow
regulation, water supply and water purification for dependencies on the other. This approach primarily focuses on the layers of
avoidance and minimization within the mitigation hierarchy. Offsets are not taken into account.
E4-5: Impact metrics related to biodiversity and ecosystems change
Value chain
The completion of its biodiversity footprint estimation and the assessment of the impact materiality on ecosystem services is
to form the foundation for RBI to develop a set of metrics and take them into account when setting its biodiversity goals.
These processes were started in 2025 and are set to be finalized in 2026.
Resource use and circular economy
E5-1: Policies related to resource use and circular economy
Value chain
As a rule, RBI’s approach to sustainable business practices is covered in the climate and environmental business strategy.
Environmental topics, such as resource use and the circular economy, are, on the business side, factored into the ESG Score,
and also taken into consideration in risk assessment processes (see the chapter Climate change).
The targets and actions for the central topics of climate stability and circularity were defined by the business areas. These
were implemented in sectoral business policies such as oil & gas, steel and real estate & construction.
RBI has also been working on (re)defining its approach to industries with high CO 2 emissions and/or high negative impacts on
circularity and biodiversity by further developing sector-specific Group policies.
For more details see chapter RBI’s climate and environmental business strategy.
Own operations
Circularity and resource efficiency in RBI’s own operations are covered in the environmental policy. RBI is working on reducing
the consumption of material and increasing awareness among employees about reuse and recycling. Considerations relating
to resource use and sustainable sourcing also influence the relationship with RBI’s suppliers (see G1-2: Management of
relationships with suppliers ).
For more details, RBI refers to the environmental policy https://www.rbinternational.com/en/raiffeisen/sustainability-esg/
inhouse-ecology.html and the s upplier code of conduct Supplier Code of Conduct.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
280 Group management report
E5-2: Actions and resources related to resource use and circular economy
Value chain
From a steering perspective, the E-score (an important component of the total ESG score) is already reflected in how RBI
clusters its customers. RBI has therefore set up the underwriting process to include the ESG component. As a result, circularity
also plays an indirect role.
As part of the climate and environmental business strategy, which focuses on supporting RBI’s customers in their sustainable
transition, RBI provides in-depth advisory services on net-zero strategy and circularity topics.
In 2025, RBI saw an increase in the volume of business compared to the previous year. This stems from the financing of
circularity projects, where the focus is on developing eco-efficient products and production activities that enhance resource
efficiency, as well as on projects that relate to waste prevention, waste reduction and waste recycling.
In terms of circularity, figures on waste and material consumption have been determined and analyzed as part of a KPI
calculation since 2016. To better address the negative impact on circularity, since 2022 RBI has been an active member of the
PRB Resource Efficiency and Circularity Target working group set up by UNEP FI.
To improve data collection in this area, circularity is included in the RBI ESG questionnaire as one of the main environmental
aspects.
Own operations
Actions concerning the improvement of circularity and reduction of resource use in RBI’s own operations are taken by local
Facility Management and Procurement officers and are aligned with Group ESG & Sustainability Management. These actions
range from switching from plastic bottles to glass, reducing paper consumption and increasing the waste recycling ratio.
Furthermore, RBI continues with its efforts to prolong the use of IT equipment (such as mobile phones, laptops, etc.) and
encourages reuse once no longer required.The number of IT equipment items procured per quarter in 2025, as well as
equipment items leaving the company through reuse programs, are tracked internally. While RBI has to take into account
technical constraints and security requirements, efforts are being made to reduce resource intake and maximize the usability
of materials.
These actions support RBI’s overall environmental goals and targets for energy efficiency and the reduction of CO 2 emissions
as outlined in chapter Climate change.
E5-3: Targets related to resource use and circular economy
Value chain
As part of RBI’s commitment to the UN Principles for Responsible Banking, it has identified the circular economy as a key focus
area. Based on the impact analysis, RBI has initially prioritized the packaging and building materials sectors.
For packaging, RBI is aligning its efforts with the Directive 94/62/EC on packaging and packaging waste, which mandates that
70 per cent of all packaging waste must be recycled by 2030. Detailed targets have also been established for materials such as
plastic, wood, ferrous metals, aluminum, glass as well as paper and cardboard. RBI intends to take these regulations into
account in its policies. To set actionable targets, RBI involved relevant stakeholders such as Group ESG & Sustainability
Management, the Consumer & Life Science division in Corporate Customer, and Sustainable Finance.
The following targets have been set by RBI to decrease resource use and increase circularity:
· For relevant customers in the packaging industry portfolio, all post-consumer packaging waste must be recycled
according to the EU Directive 94/62/EC on packaging and packaging waste by 2030.
· At least 90 per cent of customer engagement in the packaging industry will include circularity topics by 2028.
In 2025, around 70 per cent (based on customer exposure) of major customer engagement in the packaging industry already
addresses circularity ambitions, thereby representing a significant milestone to the 2028 target.
RBI is guided by the EU Taxonomy with regard to construction materials. It aims to leverage the opportunities presented by the
circular economy and explore financial incentives and support mechanisms to facilitate this transition to a green economy.
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Own operations
The targets for circularity align with RBI’s overall emission reduction targets for own operations, as detailed in the
environmental policy and the transition plan for own operations (see the chapter E1-1: Transition plan for climate change
mitigation). Material use (specifically in IT and business travel) and waste contribute significantly to RBI’s CO 2 footprint. It is
therefore in RBI’s interest to continuously work on reducing the environmental impact stemming from resource use.
A central tool for the implementation and further development of the environmental targets is the environmental
management system in Austria, which is operated in accordance with the requirements of ISO 14001 (certified since 1998). In
addition, greenhouse gases have been validated for head office in accordance with ISO 14064-1:2019 since 2013. The
Environmental Committee, Group ESG & Sustainability Management, Facility Management and sustainability officers at the
subsidiaries in Central and Eastern Europe are primarily responsible for implementing the environmental targets related to own
operations as well as evaluating the degree of target attainment.
E5-4: Resource inflows
Value chain
The impact of RBI’s loan portfolio on resource use and circularity has been analyzed using the UNEP FI impact analysis tool and
is driven by real estate activities, land transport and transport via pipelines sectors, as well as by electricity, gas, steam and air
conditioning supply. These three sectors impact on resource intensity, which is linked to both resource inflows and outflows in
the ESRS standard.
Further information can be found in chapter: RBI’s sustainability strategy.
Own operations
The physical resources required by the RBI as a banking group, aside from offices and business premises and associated
maintenance, mainly consist of office supplies and IT equipment. In addition, the resource consumption of company cars is also
calculated. In Procurement, attention is paid to quality standards and sustainability, both in terms of environmental and social
aspects. To conduct banking business, the most important additional resource is energy, which is discussed in chapter E1-5:
Energy consumption and mix. The goods and services that RBI purchases annually are disclosed in Scope 3 of RBI’s CO 2
emissions in chapter E1-6: Gross GHG emissions of categories Scope 1, 2, and 3 as well as total GHG emissions, including cloud
services.
Further information can be found in chapter: Climate change and Governance.
E5-5: Resource outflows
Value chain
See chapter E5-4: Resource inflows.
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Social Information
Own workforce
RBI’s objective is to be an attractive employer and have a high-performing culture. The pillar of people and culture contains in
detail the strategic initiatives designed to equip managers to become conscious and effective leaders, to strengthen a
collaborative and customer-centric culture, to ensure the right capabilities for now and for the future, to offer a sustainable
and fair reward and recognition system, to be an authentic and distinctive employer, and to provide meaningful careers and
growth. The importance of the own workforce for own operations is evident in the fact that the Group Strategic Roadmap for
2024 and 2025 includes RBI’s approach towards its own workforce (hereinafter people and culture) as a distinct point.
RBI undertakes strong efforts to have satisfied, motivated and healthy employees to achieve continued success. Since working
in banks is subject to high regulatory requirements, attention must be focused on well-qualified and well-trained staff who can
successfully complete their assigned tasks. RBI strategically positions itself as a learning organization, recognizing that
continuous employee development and learning is essential for maintaining high standards.
ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with
strategy and business model
The own workforce includes employees (referred to as employees in the ESRS) and non-employee employees (referred to as
non-employees in the ESRS).
Although the majority of employees have an employment contract with RBI, there are individuals who do not have an
employment relationship with RBI but still provide services to RBI (non-employees). They primarily assist with project-related
tasks or in times of temporary staffing shortages. A distinction is made between non-employees who come to RBI under a
service contract between RBI and a third-party company to provide the services defined in the service contract, and those non-
employees who have a contract with a temporary employment agency. In the latter case, RBI is responsible for defining and
structuring the tasks.
The majority of employees at RBI are employed under a permanent employment contract. Head office as well as Austrian
subsidiaries (except Kathrein Privatbank AG) only enter into fixed-term contracts in exceptional cases, but the first six months
of an employment contract are always fixed-term. After that time period, the fixed-term contract automatically changes into
a permanent one unless either party objects. During the summer months from June to October, temporary employment
contracts are concluded with seasonal interns at head office. The seasonal internships can last between one and four months,
and can be undertaken by both school pupils and university students. Their tasks include supportive and administrative
activities without being assigned independent areas of responsibility.
Head office also offers the opportunity to conclude practical internship contracts. Such internships are limited to a period of six
months, with the option to extend. An individual who takes up an internship must be enrolled in a course of study. These
interns also carry out supportive and administrative work without being assigned independent areas of responsibility. Seasonal
and practical internships are offered on a full-time basis. For students enrolled in a course of study, head office and Austrian
subsidiaries offer a part-time employment to give them the opportunity to gain valuable work experience through practical
work. These students receive a fixed-term contract for a period up to three years, conditionally bound to ongoing studies.
At most of the subsidiaries in Central and Eastern Europe such as, for example, Raiffeisen Bank Zrt., Budapest, Raiffeisen Bank
Sh.a., Tirana, or Raiffeisen Bank Austria d.d., Zagreb, the proportion of fixed-term contracts is consistently below ten per cent.
Head office as well as Raiffeisen Bank S.A., Bucharest, and Raiffeisen Bank Sh.a., Tirana, offer fixed-term employment contracts
when replacing employees who are on parental leave. This model can also be applied in other subsidiaries, if required.
In RBI, all social benefits are offered to all employees. Only at Raiffeisen Bank Kosovo J.S.C., Pristina, employees who have a
fixed-term contract under which they may work a maximum of 120 days per year are not entitled to insurance, vacation or
preferential rates for bank-owned products. At Raiffeisenbank Austria d.d., Zagreb, only students are excluded from the
benefits offered. At Raiffeisen Bank Sh.a., Tirana, staff with fixed-term contracts and agency workers are not entitled to social
security and pension insurance. However, they are entitled to meals, annual leave and other absences under labor law.
The approximately 43,000 employees of RBI represent a diversity of perspectives, skills, experiences and needs. Five
generations, 60 per cent women (previous year: 62 per cent), individuals with varying abilities and needs, and a strong
LGBTQIA+ community are represented at RBI. Due to RBI's international nature, diversity is a fact but also a competitive
advantage. This is reflected in the highly international workforce of RBI AG, which comprises employees from 80 different
nationalities. Diversity in terms of internationality, age, and gender is reflected across all areas and levels of hierarchy.
In identifying the actual and potential negative impacts on RBI’s own workforce, characteristics related to employee diversity
and the existing employment contract models were reviewed so as to reflect possible implications connected to them.
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S1-1: Policies related to own workforce
The Code of Conduct and the human rights policy consider respect for the human rights of employees, engagement with
employees, and measures to provide remedy for human rights impacts. Both policies aim at the elimination of discrimination
and harassment and cover the following grounds for discrimination: racial and ethnic origin, color, gender, sexual orientation,
gender identity, disability, age, religion, political opinion, nationality, place of birth, migration, health condition and harassment.
Furthermore they commit to include people from groups at particular risk of vulnerability and mention the procedures to
ensure discrimination is prevented.

Policy | Code of Conduct
General objective | see chapter G1-1: Corporate culture
Related IRO | Inclusion and belonging, societal equality; Mental and physical health enablement; Employee involvement; Employee relationships
Key contents | The Code of Conduct describes RBI’s culture for equal treatment and opportunities for all employees under the heading of employee relations. It mentions areas such as fair employment practices, no discrimination or harassment and no violence, and that RBI respects the laws, regulations and rules of the respective countries where RBI does business and especially related to international standards for human rights (e.g. the Fundamental Principles of the International Labour Organization), freedom of association, equal employment opportunities and prohibition of forced or child labor. The Code of Conduct states that any form of discrimination (for example, on account of age, ethnicity, religion or belief, gender, sexual orientation, disability, or political or other opinion, etc.) or (sexual) harassment is inconsistent with maintaining an integrating work environment in which staff members can reach their highest levels of individual productivity and RBI’s business goals. All employees are encouraged to report cases of discrimination (see chapters: Management of internal violations policy and whistleblowing management policy.) Furthermore, the Code of Conduct states that RBI encourages its employees to act proactively and constructively address changes that may impact their work, and anticipate these changes whenever possible. The entire RBI workforce is encouraged to express their professional opinion or judgment on matters within their respective responsibility. The Code of Conduct also mentions that RBI enables channels for exchange on relevant topics between staff and the Management Board. The Code of Conduct also explicitly emphasizes the importance of protecting employee health, and all relevant regulations must be strictly followed. In regard to work-life balance, the Code of Conduct states that RBI strives to be a group of companies that enables its employees to have a good balance between working hours and private life, and ensures that any potential negative impact that an unhealthy work-life balance could cause is minimized. The Code of Conduct promotes equal opportunities. The monitoring of the Code of Conduct is mentioned in chapter G1-1: Corporate culture .
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Reference to third party standards | Fundamental Principles of the International Labour Organization
Consideration of key stakeholders | Group ESG & Sustainability Management, Group Compliance
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments
Other details regarding the policy | see chapter G1-1: Corporate culture

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Policy | Human rights policy
General objective | The human rights policy sets out the general framework for human rights management. Its purpose is to strive to be compliant with the human rights standards as defined by the UN and in Europe by the EU. The human rights policy outlines the bank's commitment to respecting, promoting and fulfilling human rights within its sphere of influence.
Related IRO | Human rights protection of employees
Key contents | The human rights policy emphasizes the importance of human rights due diligence, risk assessment and the integration of human rights considerations into business operations. It also includes mechanisms for grievance and remediation, promoting a culture of respect and accountability. The policy is a continuously evolving working and learning process that takes the new EU regulatory requirements, such as the Corporate Sustainability Due Diligence Directive and the Corporate Sustainability Reporting Directive (including Annex Regulation (EU) 1893/2006), into consideration and aligns itself to the UN Guiding Principles on Business and Human Rights. The human rights policy sets out values, areas of impact and influence, as well as responsibilities in relation to its human rights responsibilities in accordance with the Code of Conduct. In relation to own workforce, the human rights policy covers the principle of non-discrimination and cites discrimination due to age, ethnicity, religion or belief, gender, sexual orientation, disability and political orientation. The policy mentions the importance of channels for exchange on relevant topics between employees and the Management Board. The policy outlines that RBI strives to respect, fulfill and promote the principles of non-discrimination, labor law standards, collective bargaining agreements and social dialogue. The acceptance of differences with regard to age, ethnicity, religion or belief, gender, sexual orientation, disability, or political or other opinion is central to the creation of an inclusive business culture that aims to reduce barriers and inequalities in career paths as well as implementing equal pay. Alongside these factors, a safe and healthy working environment, adequate remuneration as well as the right to organize (according to the Fundamental Principles of the ILO) also play a vital role in upholding employees’ fundamental rights. In addition, there are the updates from the CEO and calls for an exchange on relevant topics between employees and the Management Board. Group People, Culture & Organization, as the department responsible for processes at RBI, ensures and promotes compliance with the above requirements. By joining the UN Global Compact, RBI has expressed its commitment to pursue the ten principles. These include supporting the elimination of all forms of forced and compulsory labor, and the abolition of child labor.
Process for monitoring | The policy is reviewed at least annually. The individual implementation steps are reviewed on a regular basis to assess their suitability for the achievement of the policy‘s objectives. The review‘s findings form the basis for the adaption of current sub- targets and other measures.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations regarding chapter own workforce; upstream- and downstream value chain covered within the policy
Affected stakeholders | Employees, customers, vendors, other business partners
Most senior level responsible | Head of Group ESG & Sustainability Management
Reference to third party standards | · the Universal Declaration of Human Rights · the International Covenant on Civil and Political Rights · the International Covenant on Social, Economic and Cultural Rights · the Fundamental Principles of the International Labour Organization (ILO): freedom of association, right to collective bargaining, abolition of forced labor and the worst forms of child labor, equal remuneration, non-discrimination (in employment and occupation) · the European Convention on Human Rights · the Corporate Sustainability Due Diligence Directive and the Corporate Sustainability Reporting Directive (including Annex Regulation (EU) 1893/2006), as well as the minimum social safeguard principles of the EU Taxonomy Regulation
Consideration of key stakeholders | Ludwig Boltzmann Institute of Fundamental and Human Rights and a cross-divisional RBI working group established specifically to address the topic of human rights.
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Topic-specific policies

Policy | Diversity, equity and inclusion policy
General objective | The policy aims to give general guiding principles for and explain the role of diversity, equity and inclusion throughout the entire employee lifecycle. It clearly states that diversity, equity and inclusion should create a supportive working environment at all stages—starting from onboarding, through development and promotion, to exit.
Related IRO | Diversity, equity and inclusion; Better decision-making
Key contents | · The policy outlines attitudes, roles and responsibilities related to diversity and sets principles for implementing a diversity and inclusion strategy across RBI. · It references the succession management policy as well as the total rewards management policy. Diversity officers have to be nominated to design and implement a local diversity, equity and inclusion policy. · It states that every unit concerned should promote awareness and actively work to eliminate any prejudice, discrimination, or negative attitudes based on gender, parental status or caregiver responsibilities, age/generation, sexual orientation, gender identity, gender expression, sex characteristics, race, color, ethnic origin, social/economic class/property, first language, religion, belief, nationality, place of birth, migration status, disabilities, impairments, chronic diseases, developmental disorders, mental health and/or physical issues. · The policy also includes the gender targets for the top management level and mentions the affected roles (Nomination Committee or Supervisory Board, Management Board, Group People, Culture & Organization, local diversity officers) and their responsibilities. · Furthermore, the policy stipulates that all employees who feel the policy is not being adhered to can and should report this (anonymously if desired) through various channels (Whispli, diversity officers, Ombuds Office at RBI AG). · To ensure compliance with the policy, it is also stated that all ESRS metrics will be reported.
Process for monitoring | The policy is reviewed regularly, at least annually, for relevance and compliance with legal regulations. It was updated in 2025.
Scope / Exclusions | RBI head office, subsidiary banks in Central and Eastern Europe and affected Austrian subsidiaries
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization
Reference to third party standards | · Directive 2013/36/EU (Art. 74, 75, 88 and 92) as transposed into §29 of the Austrian Banking Act (Bankwesengesetz) · EBA/GL/2021/06 (on the assessment of the suitability of members of the management body and key function holders) · Directive 2013/34/EU as amended by Directive 2014/95/EU transformed into Austrian law pursuant to the Sustainability and Diversity Improvement Act (Nachhaltigkeits-und Diversitätsverbesserungsgesetz – NaDiVeG) · Directive 2022/2381/EU on improving the gender balance among directors of listed companies.(not yet transposed into Austrian law) · Austrian Code of Corporate Governance (Österreichischer Corporate Governance Kodex), §52 · Directive 2019/882/EU on the accessibility requirements for products and services (European Accessibility Act) · Directive 2023/970/EU
Consideration of key stakeholders | Group ESG & Sustainability Management, Group Compliance
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments; see also information on our Website: https:// www.rbinternational.com/en/raiffeisen/sustainability-esg/diversity-inclusion.html

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Policy | Total rewards management policy
General objective | The policy provides general and special remuneration principles, including rules and regulations to align market-adequate compensation, fringe benefits and recognition according to the total rewards approach, in order to establish a group framework for remuneration policies and practices
Related IRO | Employee relationship; enhance financial stability; overall employee satisfaction
Key contents | The policy aims to foster the development, satisfaction and loyalty of RBI employees, by providing financial stability and by focusing performance management on the development of its staff members. The remuneration policy is a gender neutral remuneration policy based on the principle of equal pay for women and men for equal work or work of equal value. The proportion of variable to fixed compensation is well balanced, which should allow every employee an adequate living based on fixed income, thus permitting a fully flexible variable remuneration policy, including the possibility of no variable remuneration, while still providing financial security to employees.
Process for monitoring | The policy is reviewed regularly
Scope / Exclusions | RBI AG; Subsidiary banks in Central and Eastern Europe, Raiffeisen Bausparkasse, Raiffeisen-Leasing GmbH, Raiffeisen Capital Management, Kathrein Privatbank AG, Valida Holding
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization
Reference to third party standards | · Austrian Banking Act (BWG), in particular §39b including Annex to § 39b · Capital Requirements Directive 2013/36/EU (CRD) in its current version · Capital Requirements Regulation (EU) No 575/2013 (CRR) in its current version · EBA Guidelines on sound remuneration policies under Directive 2013/36/EU (EBA/GL/2021/04) · RTS on Identified Staff Identification (Commission delegated regulation (EU) 2021/923) · EU-Directive 2014/65/EU (MiFID II) Directive as amended by Directive (EU) 2024/790; Commission delegated regulation (EU) 2017/565 · Commission Directive 2006/73/EC (MiFID II Implementing Directive regulation); §§ 45ff Securities Supervision Act (WAG 2018) · FMA Circular Letter Principles of Remuneration Policies and Practices, June 2022 · ESMA Guidelines on remuneration policies and practices (MiFID) (ESMA/2013/606 and ESMA/2016/579) · EBA Guidelines on remuneration policies and practices related to the sale and provision of retail banking products and services (EBA/GL/2016/06) · MiCAR (Regulation (EU) 2023/1114)
Consideration of key stakeholders | Integrated Risk Management Officers as main stakeholders for local implementation
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

Policy | Learning, development and talent management policy
General objective | The policy defines the key rules for learning, development and talent management within RBI, and serves as the framework for respective local regulations for individual subsidiaries, although it states that the responsibility for learning and development lies within each subsidiary.
Related IRO | Employee development
Key contents | Executive development is the responsibility of Learning Strategy, which provides Management Board members, Management Board potentials and leaders (Management Board members and the second tier of management who have full management responsibilities and make decisions for the whole organization or a business unit) with suitable learning and development offers for mandatory and/or voluntary participation. Professional or leadership development programs/initiatives that are requested, initiated and approved by the respective RBI Management Board member and rolled out by the respective RBI business area in cooperation with the department RBI People, Culture & Organization must be executed locally. Local internal policies on learning and development must be pre-approved by the Learning Strategy department. Learning, development and talent management policy states that each RBI subsidiary must have a functional training architecture and a common leadership training architecture, and must ensure that education needs derived from regulatory requirements are covered appropriately. Furthermore, the policy states that each RBI subsidiary must take care of appropriate career development for its staff and that each employee must have a development dialogue with their line manager at least once a year.
Process for monitoring | The policy is reviewed regularly and adjusted as necessary to reflect changed circumstances.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization
Reference to third party standards | _
Consideration of key stakeholders | _
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Policy | Performance management policy
General objective | The policy gives a framework for structure and process to ensure a standardized performance management process in order to support the long-term strategy and short time business goals of RBI.
Related IRO | Employee development
Key contents | Performance management as a process aims to enable all employees to perform at their best and grow to their full potential, as such assuring the future success of the company. It also ensures that all employees are clear about their expected contribution and those are aligned with the overall targets of the organization. Performance management practice is built upon an environment of trust and the performance management process in RBI fosters feedback and promotes the focus on development. Performance management provides a framework for employees and managers to grow together as well as a basis for their, and Raiffeisen’s, positive future development in a changing business world. The guiding principles are: development focus, real-time rather than once a year, trust and empowerment rather than control, purpose driven and feedback rather than rating.
Process for monitoring | The policy is reviewed regularly and adjusted as necessary to reflect changed circumstances
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization
Reference to third party standards | CRD IV, EBA Guidlines on Sound Remuneration Policies
Consideration of key stakeholders | -
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

Policy | Human resources data protection regulation policy
General objective | Data protection
Related IRO | Protection of personal data
Key contents | The policy ensures that the following principles are fulfilled by employees working in Group People, Culture & Organization: lawfulness, fairness and transparency; purpose limitation; data minimization; accuracy; storage limitation; integrity and confidentiality. Furthermore, the policy is intended to ensure that there are no data breaches and that employees of Group People, Culture & Organization handle employee data responsibly. It also contains regulations regarding the provision of information and DSR, RBI as controller and processor, and how to handle data breaches. For other GDPR topics there is a separate policy; information can be found in the chapter Data protection policy.
Process for monitoring | The policy is reviewed regularly and adjusted as necessary to reflect changed circumstances.
Scope / Exclusions | Employees working in Group People, Culture & Organization at head office
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization
Reference to third party standards | General Data Protection Regulation
Consideration of key stakeholders | Group Data Protection Office
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Policy | Management of internal violations policy
General objective | The policy offers clear principles for the management of internal violations as part of RBI’s risk management strategy.
Related IRO | Inclusion and belonging, societal equality; Mental and physical health enablement
Key contents | The guideline’s objectives include: · clarifying the scope of internal violations management, and outlining common definitions and responsibilities across the organization · establishing a transparent process for handling internal violations to ensure consistent treatment within RBI · communicating RBI’s principles on managing internal violations The line manager together with the relevant internal policy owner, i.e. HR function, is responsible for ensuring that all violations against the Code of Conduct or employee duties are reported to the local compliance violations cockpit, including assessment of the severity of the violations and taking risk-based actions. Violations concern work-related incidents according to the internal classification of violation types, which according to the Code of Conduct are discrimination, harassment or violence, or endangering occupational health and safety. The internal policy owner is obligated to continuously monitor violations on a frequent basis.
Process for monitoring | The policy is reviewed regularly and adjusted as necessary to reflect changed circumstances.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees, line managers
Most senior level responsible | Head of Group Compliance
Reference to third party standards | -
Consideration of key stakeholders | -
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

Policy | Whistleblowing management policy
General objective | Whistleblowing management policy outlines a clear framework for whistleblowing, ensuring consistent standards across RBI.
Related IRO | See G1-1 Corporate Culture, Whistleblowing
Key contents | Reporting - RBI offers the following channels to file complaints: · Line management/HR function - employees are responsible for raising concerns and complaints through their line management, who are supported by the local HR function. · Whistleblowing - both staff and external stakeholders are responsible for reporting potential breaches of the Code of Conduct or regulatory requirements via Whispli, an anonymous reporting platform available across RBI. Additionally, regional whistleblowing channels allow for anonymous reporting across subsidiaries (more information can be found in the chapter G1-1: Corporate culture). The whistleblowing management function (WMF), situated within the local compliance department, investigates reported breaches, including but not limited to: · harassment at work, mobbing, discrimination · failure to protect personal data · other breaches of the Code of Conduct · Corporate Ombuds Office (RBI AG only) - This office operates independently, impartially, informally and confidentially. It refers employees to the above-mentioned complaints channels to initiate an official internal complaints/ violations procedure concerning the Code of Conduct or regulatory breaches.
Process for monitoring | The policy is reviewed regularly, and adjusted as necessary to reflect changed circumstances.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group Compliance
Reference to third party standards | · Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law · Whistleblower Protection Act (HinweisgeberInnenschutzgesetz – HSchG) (Austria) · Article 71 Directive 2013/36/EU (CRD) and Article 99g Austrian Banking Act · Chapter 13 - EBA/GL/2017/11, Guidelines on internal governance under Directive 2013/36/EU
Consideration of key stakeholders | _
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Operational risk management

Policy | Operational risk management policy
General objective | The objective of this policy is to outline the principles and the framework for operational risk management in the Group and to ensure that all significant operational risks are identified, measured, managed and monitored. Additionally, this policy outlines the roles and responsibilities of management, necessary to address the requirements of the operational risk management framework (ORMF).
Related IRO | Inclusion and belonging, societal equality
Key contents | · This operational risk policy sets the overall principles of operational risk management in the Group. A methodological manual and instruction guides provided by Group Risk Controlling support a common understanding of operational risk management within the Group. · Local regulations specific at local level may be developed. However, unless an exception or deviation is granted by Group Risk Controlling, the regulation must adhere to the principles outlined in this policy. · Incidents resulting in fines, penalties or compensation for damages due to human rights violations (e.g. discrimination, harassment, forced labor, human trafficking or child labor) must be reported in the central operational risk management system (Archer). Violations of fundamental human rights (such as forced labor, human trafficking or child labor) would also have to be recorded in the central operational risk management system. There have been no such incidents to date.
Process for monitoring | The policy is reviewed regularly for relevance, at least annually.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group Risk Controlling
Reference to third party standards | Regulation (EU) No. 1024/2013; Austrian Banking Act (BWG), Regulation (EU) No. 575/2013 (CRR), Directive (EU) No. 2013/36 (“CRD”), Regulation (EU) 2016/679 (“GDPR”), BCBS 128 International Convergence of Capital Measurement and Capital Standards (June 2006); BCBS 292 Review of the Principles for the Sound Management of Operational Risk (October 2014); BCBS 196 Operational Risk -Supervisory Guidelines for the Advanced Measurement Approaches (June 2011); OPE Calculation of RWA for Operational Risk OPE 25 - Standardised Approach (Basel Committee on Banking Supervision); DIS Disclosure requirements - DIS60 - Operational risk (Basel Committee on Banking Supervision).
Consideration of key stakeholders | Group Risk Controlling
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

RBI has a workplace accident management system in place. More information can be found in the chapter S tatutory standards
for occupational health and safety.

Policy | Operational risk method manual
General objective | The purpose of this policy is to provide a methodological understanding of the operational risk management framework within RBI.
Related IRO | Inclusion and belonging, societal equality
Key contents | Given that operational risk is identified as one of four main material risk categories within RBI, it is necessary to establish an efficient system of managing and controlling operational risks to strengthen the RBI’s business goals and fulfil regulatory requirements. The purpose of this policy is to provide a methodological understanding of the operational risk management framework within RBI. This document expands upon the concepts which were succinctly covered in the operational risk policy and serves as the precursor to the individual methodological Instructions, which will provide a detailed description of each topic.
Process for monitoring | The policy is reviewed regularly for relevance, at least annually.
Scope / Exclusions | RBI
Value Chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group Risk Controlling
Reference to third party standards | Regulation (EU) Nr. 575/2013 (CRR)
Consideration of key stakeholders | Group Risk Controlling
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Policy | Particular company agreements
General objective | The main objective of the company agreements is to offer flexible working hours and social benefits. The objective of the company agreement on social benefits in head office is to regulate the extent, appropriation and distribution of allowances paid by RBI AG to its employees.
Related IRO | Employee relationship;
Key contents | RBI AG has implemented a company agreement governing working time, especially flexible working time. The agreement is valid for all employees of RBI AG in Austria who are represented by the Staff Council. It contains regulations regarding working time, for example the variable working time frame, overtime, rest periods, and time recording in accordance with national legal regulations (§ 97(1)(2) of the Austrian Labour Constitution Act (Arbeitsverfassungsgesetz – ArbVG) in conjunction with § 4b of the Austrian Working Time Act (Arbeitszeitgesetz – AZG). The objective of the company agreement is to support working conditions with flexible working hours, primarily to counteract overwork and stress with flexibility, and to adapt working hours as best as possible to the needs of employees. Other Austrian subsidiaries (Raiffeisen Bausparkasse Gesellschaft m.b.H., Raiffeisen Factor Bank AG, Raiffeisen-Leasing GmbH, Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Valida Holding AG, ZHS Office- und Facilitymanagement GmbH) have similar company agreements which regulate flexible working time in those companies. Additionally, the Code of Conduct mentions the importance to RBI that employees are enabled to have a good balance between working hours and private life. The company agreement on social benefits for the head office regulates social benefits for employees such as the group health insurance subsidy, staff restaurant subsidy, conditions for discounted banking terms, actual salary increase, payments during parental leave, extended termination protection during parental leave, reimbursement of costs for public transportation, and the Christmas gift. The company agreement thus provides support through financial relief or subsidies and regulates the amount up to which income is subject to an actual salary increase in the case of a collective agreement increase. The company agreement was adjusted in 2024 and resulted in adjustments to and reductions in social benefits.
Process for monitoring | The policies are reviewed regularly,at least once a year and adjusted as necessary to reflect changed circumstances and legal changes.
Scope / Exclusions | RBI AG, Raiffeisen Bausparkasse Gesellschaft m.b.H., Raiffeisen Factor Bank AG, Raiffeisen-Leasing GmbH, Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Valida Holding AG, ZHS Office- und Facilitymanagement GmbH
Value Chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group People, Culture & Organization, CEO
Reference to third party standards | § 97 (1) (2) ArbVG, § 4b AZG
Consideration of key stakeholders | -
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

S1-2: Processes for engaging with own workforce and workers’ representatives about
impacts
Employee participation is of importance for RBI as well as for the employees. Capturing the mood among employees and their
needs offers an opportunity to address these, reveal possible problems and take measures to improve employee satisfaction.
For employees, it means having a voice and being heard, thereby enhancing employee engagement and loyalty. At RBI, there
are several options to ensure employee participation.
CEO calls
Different communication platforms within RBI include effective formats for interaction such as the update from the CEO calls.
These one-hour calls start with a report by the CEO on the current situation before giving employees the opportunity to ask
questions, which are then answered live by the CEO. RBI uses Microsoft Teams live events for this platform so that all
employees can participate. The CEO is the most senior person responsible for ensuring that employee engagement happens.
All subsidiaries of RBI in Central and Eastern Europe also have platforms for exchanging information and experiences – in some
cases with the entire Management Board – at monthly or quarterly intervals.
Employee surveys
In order to better understand and fulfill the needs and expectations of its employees, it is ensured that RBI listens to its
employees. RBI achieves this through annual employee surveys, pulse surveys, and questionnaires on processes and projects.
The head of Group People, Culture & Organization is the most senior person responsible for the employee surveys.
RBI is actively committed to equal opportunities for all employees. RBI takes measures to gain an insight into the perspective of
people among its own workforce who may be particularly vulnerable to impacts. After identifying diversity dimensions, RBI
works with external consultants and universities to comprehend the needs of vulnerable and/or marginalized groups of
employees – especially at the beginning when developing strategies – to identify needs and define targets. Also, employee
surveys provide valuable insights.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 291
Staff Councils
45 per cent (previous year: 45 per cent) of the employees are represented by a staff council or a labor union. Excepted are
employees in Albania, Poland, Kosovo, Serbia, Romania, Croatia and Russia. In the Czech Republic, only some of the employees
are represented by a staff council.
A regular exchange takes place between the workers’ representatives and RBI’s management (in Austria at least once every
quarter). The local head of People, Culture & Organization is the most senior person responsible for the exchange with the local
workers’ representatives.
The staff councils are networked within RBI (the Group Staff Council in Austria was constituted in November 2020) and also
internationally via the European Works Council (EWC).
In the European Works Council of RBI, twelve representatives from seven EU countries (Austria, Croatia, the Czech Republic,
Hungary, Poland, Romania, Slovakia) are represented. The EWC has the right to be informed and consulted about matters
affecting the interests of employees of at least two RBI subsidiaries in different EU/EEA countries. The EWC holds two regular
meetings annually. Extraordinary meetings can be held if needed.
Employee representatives on the Supervisory Board
In Austria, Albania, the Czech Republic and Slovakia, employee representatives are appointed to the Supervisory Board.
The CEO (together with Management Board members) as well as the head of Human Resources in each country are responsible
for ensuring that this engagement of the employees as well as the workers’ representatives happens.
S1-3: Processes to remediate negative impacts and channels for own workforce to
raise concerns
The Whispli tool is available to all employees of RBI and can be used to report corporate misconduct, violations of laws or
breaches of the Code of Conduct, such as bribery and corruption, conflicts of interest or harassment in the workplace, bullying
and discrimination as well as fraud and theft via an anonymous and secure mailbox. The reports are processed by a case
manager. For more details, including information about the assessment that people are aware of and trust these structures,
please see the chapter Whistleblowing.
Information on whistleblowing is provided as integral part of compliance-specific mandatory trainings. Compliance acts as
fully independent institution on whistleblowing investigations, further ensuring trust in its processes among RBI’s employees.
Effectiveness is assessed through regular feedback by whistleblowers and monitoring of closed cases.
Corporate Ombuds Office
The Corporate Ombuds Office is an informal, neutral, independent and confidential contact point for employees at the head
office, addressing concerns such as misconduct, interpersonal conflicts, discrimination or harassment in the workplace.
Furthermore, it serves as a knowledge hub that anonymously documents and analyzes systemic issues, deriving preventive and
transformative measures for a sustainable corporate culture. The insights gained are prepared annually and tailored to
relevant stakeholders, such as the Management Board, Group People Culture & Organization, Compliance and the Staff Council.
However, the Ombuds Office is not a formal channel or resource for reporting retaliation and refers to the official channels, e.g.
Whispli tool and the first line of defense.
For enhancing the recognition and visibility, regular communication measures like the annual Ombuds Day are regularly
conducted. The credibility of the Ombuds Office is reinforced through verbal recommendations from colleagues and other
stakeholders like People, Culture & Organization or the Staff Council. Furthermore, a structured process to measure the
effectiveness of the Ombuds Office’s offerings does not exist.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
292 Group management report
S1-4: Taking action on material impacts on own workforce, and approaches to
managing material risks and pursuing material opportunities related to own
workforce, and effectiveness of those actions

Overview of action fields
| RBI material topics related to impacts, risks and opportunities | AT | CE | SEE | EE | UA
Topic | Diversity, equity and inclusion | Employee development | Health | Employee involvement | Employee relationships | AT | CZ | HU | PL | SK | AL | BH | HR | KO | RO | RS | RU | UA
Diversity officer - formal governance structure | x |  |  |  |  | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü |  | ü
Employee resource groups | x |  |  |  |  | ü | ü | ü |  |  |  |  | ü | ü |  |  |  |
Woman empowerment programs | x | x |  |  |  | ü | ü | ü |  |  | ü | ü | ü | ü |  |  |  | ü
LGBTQIA+ programs | x |  | x |  |  | ü | ü |  |  | ü | ü |  | ü | ü |  |  |  |
Generation management | x |  | x |  |  | ü | ü | ü |  |  |  |  | ü | ü | ü | ü |  |
Employment of people with disabilities | x |  | x |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Intercultural management | x |  |  |  |  | ü | ü |  |  | ü |  |  |  | ü | ü |  |  |
Diversity - external memberships | x |  |  |  |  | ü | ü |  |  | ü | ü |  | ü | ü | ü |  |  |
Leadership development |  | x |  |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Talent management programs | x | x |  |  |  | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü | ü | ü
Coaching and mentoring | x | x |  |  |  | ü |  | ü |  |  | ü | ü |  | ü | ü | ü |  | ü
Trainee programs |  | x |  |  | x | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü | ü | ü
Skill development trainings |  | x |  |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
General diversity training courses | x |  |  |  |  | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü |  | ü
Executive training on work-life balance |  | x | x |  | x | ü | ü |  |  | ü | ü |  | ü | ü | ü |  | ü | ü
Health management training |  | x | x |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Cooperations with universities |  | x |  |  |  | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü | ü | ü
CEO calls |  |  |  | x |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Employee survey |  |  |  | x |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Work and family balance audit | x |  | x |  | x | ü | ü |  |  |  |  |  |  |  |  |  |  | ü
Hybrid working option | x |  | x |  | x | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Part-time work (parents) | x |  | x |  | x | ü | ü | ü | ü | ü | ü | ü | ü |  | ü | ü | ü | ü
Part-time work (other than parents) | x |  | x |  | x | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Educational leave |  | x |  |  | x | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Paid parental leave (beyond legal requirement) - paid by the company | x |  |  |  | x |  | ü |  |  |  | ü | ü |  |  | ü |  | ü |
Other sabbaticals |  |  | x |  | x | ü | ü | ü | ü | ü | ü |  |  |  | ü | ü |  |
Company kindergarten or similar | x |  |  |  | x | ü | ü |  |  |  |  |  |  |  |  | ü |  |
Dependent care programs | x |  | x |  | x | ü | ü | ü | ü | ü |  | ü | ü | ü | ü | ü | ü |
Semi-retirement programs | x |  | x |  | x | ü | ü |  |  |  |  |  |  |  | ü |  |  |
Social benefits |  |  | x |  | x | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Promotion of health and sports |  |  | x |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Health consulting and checks |  |  | x |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Consulting on ergonomics |  |  | x |  |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Programs for mental health |  | x | x |  |  | ü | ü | ü | ü | ü |  | ü | ü | ü | ü | ü | ü | ü
Burn-out prevention and support |  |  | x |  |  | ü | ü |  | ü | ü |  | ü | ü | ü | ü |  | ü | ü
Return to work programs | x | x | x |  |  | ü | ü |  |  |  |  | ü | ü | ü | ü |  | ü |
Physical health programs |  |  | x |  |  | ü | ü |  | ü | ü |  | ü | ü | ü | ü | ü | ü | ü
Bank robberies - psychological support |  |  | x |  |  |  | ü | ü |  | ü |  | ü | ü | ü | ü | ü | ü | ü

As part of RBI’s commitment to fostering a positive work environment and to avoid own practices causing or contributing to
negative impacts, it regularly conducts employee surveys to identify and analyze the needs and preferences of its staff. These
surveys provide valuable insights into employee satisfaction, engagement and areas for improvement.
Following the analysis, RBI considers global labor market trends to ensure its strategies are aligned with current best practices.
This comprehensive approach allows RBI to develop targeted initiatives aimed at enhancing employee engagement.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 293
By implementing these measures, RBI strives to maintain a high engagement index, which is crucial for ensuring that its
employees feel satisfied, motivated and valued in their roles. Ultimately, RBI intends to create a workplace where everyone can
thrive and contribute to the organization's success. The importance of the own workforce is also reflected in the Strategic
Roadmap, where employees are explicitly mentioned as a separately pillar. RBI aims to create a motivating, performance-
oriented work environment and position itself as an employer of choice
At the end of each year, a comprehensive evaluation is conducted of the work, results and insights from the entire year. Based
on this analysis and taking into account the RBI Strategic Roadmap and current labor market trends, the leadership team of
the People, Culture & Organization department develops the objectives for the coming year. Subsequently, the respective team
leaders communicate this information to their teams and formulate individual objectives for their specific areas of
responsibility. These objectives are then evaluated and, if necessary, adapted during regular exchanges between the leaders of
the respective Human Resources departments.
Actions implemented at RBI are subject to detailed and precise planning in advance to ensure maximum effectiveness. Various
tools are used to evaluate the effectiveness of individual measures. For example, employee surveys are conducted regularly to
provide insights into how the actions and their effectiveness are perceived by employees. The surveys assess perceptions on
aspects such as flexibility and work-life balance, collaboration, learning and development opportunities, and diversity. At head
office, a set of guidelines is developed as part of the audit berufundfamilie (audit job and family) and implementation of these
guidelines is continuously reviewed. Regular exchanges with employees and managers also reveal how the actions are received
and whether they are effective in the relevant areas.
At head office, one and a half full-time employees are exclusively dedicated to the topic of diversity, and there are additional
diversity officers in all subsidiary banks. Key areas such as work-life balance, employee engagement, employee development,
fair compensation and health fall within the responsibilities of Human Resources and are addressed by the staff of the People,
Culture & Organization division. The management at RBI is responsible for the personnel leadership of the employees.
Diversity, equity and inclusion
The diversity, equity and inclusion policy aims to raise awareness of the different dimensions of diversity and to promote their
consideration and support. It emphasizes that diversity adds value, offering sustainable benefits for the company, employees
and society. The expected outcome of the measures is to help pursue and achieve this objective, as a diverse work
environment leads to higher job satisfaction and, consequently, impacts the work performance. The actions are intended not
only to familiarize employees with diversity but also to integrate them into their daily work routine.
Raiffeisenbank a.s., Prague, Raiffeisenbank Austria d.d., Zagreb, RBI AG, Raiffeisen Bank S.A., Bucharest, and Tatra banka, a.s.,
Bratislava, have furthermore signed the respective national diversity charters. Raiffeisen Bank S.A., Bucharest, is also a founding
corporate member of the Romanian Diversity Chamber of Commerce and Raiffeisen Bank Kosovo J.S.C., Pristina, has become
an official signatory of Women Empowerment Principles through UN Women.
LGBTQIA+
The expected outcome of the actions is to raise awareness to the topic of LGBTQIA+ and enlighten all employees about the
positive impact of diversity and LGBTQIA+ inclusion.
At the head office, there is an employee-led group called EMBRACE that focuses on the LGBTQIA+ diversity dimension both at
head office and across the group, raising awareness through regular events and by flying the rainbow flag. Raiffeisen Bank
Kosovo is the only private company in the country that actively advocates for LGBTQIA+ and communicates its commitment.
Women empowerment
In addition to the legal requirements for gender equality (e.g. quota for the underrepresented gender), many units have
additional actions to promote women in the workplace. The actions are implemented to end all forms of discrimination
towards women and ensure that women can fully and effectively participate, and that they have equal opportunity in taking
on management roles on all levels of decision-making.
In head office, the employee resource group Women in Leadership focuses on gender equality. Additionally, there are women
networks in three different board areas. In Raiffeisenbank a.s., Prague, women candidates are actively approached for open
managerial positions, women are supported to connect within the FinWomen Community and the Moms and Dads employee
resource group has been established . This is planned on a short-term horizon and its effectiveness is evaluated on the basis of
the number of women in top management, the number of women in talent pipelines, the score in the engagement survey on
diversity support and the number of female candidates in trainee programs. Raiffeisenbank Austria d.d., Zagreb, offers a
gradual return from parental leave for mothers and additional days of paternity leave for fathers.
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Raiffeisen Bank d.d. Bosnia and Herzegovina, Sarajevo, implemented women empowerment programs that include education,
mentorship and career development support. Special focus is placed on women in leadership, reducing the gender pay gap and
applying the Women’s Empowerment Principles (WEPs) in business operations. These measures are planned in the medium
term and their efficiency is measured on the basis of the number of participants and the number of women in leadership
positions, including middle and senior management.
In March, Raiffeisen Bank Kosovo J.S.C., Pristina, launched an internal and external campaign on the empowerment of women,
called Women in Expert Roles Campaign. It also offers a financial education program for women entrepreneurs. This has a
short-term planning horizon and is regularly evaluated based on participant numbers and their feedback.
The group-wide female mentoring program is described in the chapter Coaching and mentoring. In Raiffeisen Bank Zrt.,
Budapest, structured training programs are offered to raise awareness of the different characteristics of female and male
leadership, and how these characteristics can be optimized and balanced in daily operations. In the head office, Kathrein
Privatbank Aktiengesellschaft, Raiffeisen Kapitalanlage Gesellschaft m.b.H. and in Raiffeisen Bank J.S.C., Kiev, female employees
can connect with communities or become members of female networks. Additional actions are described in the chapter Report
on measures taken by the company to promote women to the Management Board, the Supervisory Board and into executive
positions within the meaning of §80 AktG and a description of the diversity strategy as laid down in §243c (2) 2 and 3 of the
UGB of the Corporate Governance Report.
Generations
Generation management is important for the success of companies, as it promotes collaboration and understanding between
different age groups. A mixed-age workforce leads to higher productivity and innovation. This way, each employee can fully
harness their potential while fostering an inclusive corporate culture. Actions for RBI’s young talents are expected to enable
young employees to build a network within RBI. However, it should also contribute to ensuring that their needs can be heard
and understood.
The Young Generation program of Raiffeisen Bank Zrt., Budapest, connects young talents to promote their professional
development and strengthen corporate values; its effectiveness is evaluated short-term based on participant numbers and
costs per employee.
Employees with disabilities
The expected outcome of actions for employees with disabilities is to raise awareness of the special needs of these employees
and to end any form of discrimination.
Tatra banka, a.s., Bratislava, for example, is gradually building non-barrier workspaces and individually adapting the tasks and
workplace according to the level of disablement. Croatia collaborates with the Croatian Centre for Professional Rehabilitation,
providing professional training for persons with disabilities to make them more competitive in the labor market. Also Raiffeisen
Group IT in Austria offers regularly trainings to raise awareness of inclusion and accessibility of the work environment. This is
planned for a period of up to three years and the effectiveness is measured by how many people attend the trainings.
Diversity training
Information can be found in the sub-chapter Training initiatives.
Employee development
The continuous development of employees is crucial to meeting legal and personal requirements and expectations. The
learning, development and talent management policy emphasizes support for skills acquisition and ensures a high level of staff
qualification, while adhering to governance guidelines. RBI operates as a learning organization, encouraging and supporting all
employees to actively shape their learning pathways, as explained in the following sections. In such an organization, the
continuous development of employees is an ongoing process.
Performance management
Performance management as a process is geared towards permitting employees to perform at their best and grow to their
full potential, thereby assuring the future success of the company. It also ensures that all employees are clear about their
expected contribution and aligned with the overall targets of the organization. This is connected to the performance
management policy. All group directives are translated into local directives, leaving flexibility to the countries to reflect local
requirements and needs.
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Giving each and every individual the opportunity for personal and professional development helps employees to remain
connected to RBI in the long term. Development and learning take place continuously, combined with feedback and
retrospective analyses as an integral part of day-to-day work. With regard to the learning journey for talented employees,
special care is taken to establish a supportive process that serves to promote sustainable learning agility, where the talents
themselves play an active role in their own career development. This is in line with the principle that the learners are at the
heart of their development. Managers are encouraged to hold development discussions with their employees and document
their goals. Together with Group People, Culture & Organization, managers can work out what the employees need to achieve
their goals.
In 2025, performance management at Raiffeisenbank Austria d.d., Zagreb, and in the Czech Republic was revised to strengthen
team goals and continuous feedback; in Kyiv, it was improved through a new platform with workshops on goal setting and
skills development.
Talent management programs
To nurture exceptional talent, various talent management programs that individually support, further train and encourage
both employees and leaders to take the next steps in their careers are offered in nearly all countries .
Raiffeisen banka a.d. Beograd, for example, has put in place a structured talent management approach that encompasses the
identification, development, succession and retention of key employees. As part of the annual leadership review process, the
talent pool calibration is conducted, successors for strategic positions are defined and individual development plans are
created. This is planned on a medium-term horizon and measured on the basis of the talent pool.
Coaching and mentoring
RBI has set objectives to enhance gender diversity and pursue balanced gender representation in senior leadership roles.
To support women in their professional endeavors, RBI introduced the Female Mentoring Program in 2024, whose format is
intended to be executed on a short-term basis. The first cohort achieved a Temkin score of 80 per cent with 26 participants (a
metric used to assess success, effort and emotional experience), while the second cohort of 24 employees has been working
since August 2025 on development plans whose completion will be used to evaluate the program’s effectiveness by March
2026.
The RBI strategy and current people trends make succession planning, key people development and retention essential for
competitiveness. That is why, in addition to female programs, mentoring was also offered to potential successors for
Management Board member roles in the subsidiary banks in Central and Eastern Europe. 40 managers from the succession
pool participated in this initiative in 2024 and 2025, achieving an impressive TER score of 97 per cent.
Raiffeisen Bank d.d. Bosnia and Herzegovina, Sarajevo, implements structured coaching and mentoring programs to integrate
new employees and promote professional growth; in 2025, 44 employees participated. Coaching and mentoring is also offered
in Raiffeisenbank Austria d.d., Zagreb, Raiffeisen Bank S.A., Bucharest, AO Raiffeisenbank, Moscow, Raiffeisen Bank J.S.C., Kiev,
and many other subsidiaries, most commonly to managerial positions and women. All the programs are planned in the short to
medium-term, and the effectiveness is measured by feedback and the number of participants.
Trainee programs
Additionally, some subsidiaries of RBI offer trainee programs aimed specifically at students to provide a first step towards a
career at RBI. Trainees are accompanied by mentors, assigned for a specific period, and receive professional and personal
training. In the head office, trainee programs are offered in several Board areas. The Customer Institutional Banking Trainee
Program was completed in 2025 and the next intake is planned for 2026. Established feedback formats support the program’s
continuous improvement. The trainee programs in Finance and Capital Market Compliance continue to operate, offering
structured rotations and international exposure.
At Raiffeisen banka a.d., Belgrade, the Kickstart Your Career program provides students with practical experience through
rotations in key banking areas and is regularly evaluated and further developed. Additional subsidiaries, including those in
Bucharest, Kyiv and Bratislava, also run regularly evaluated trainee programs. All the programs are evaluated regularly.
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Training initiatives
ESG trainings
To meet the growing demand for knowledge in the area of sustainability, particularly in sustainable finance, RBI established a
group-wide key learning concept: an internally-developed ESG knowledge and training hub, which includes videos, podcasts
and links on ESG topics, and comprises comprehensive online training modules, which are updated annually and cover various
areas of sustainability such as risk and regulatory perspectives, environmental developments, sustainable finance solutions,
human rights due diligence needs and ESG business opportunities. Additionally, the training hub includes business-related
SkillUp! learning initiatives, which cover RBI’s commitment to sustainable banking, regulatory requirements, sustainable finance
solutions, greenwashing prevention and market standards via comprehensive learning journeys, with self-study and classroom
sessions. These journeys are offered twice a year to a total of 60 participants at head office.
Diversity trainings
Various diversity training courses are offered across the Group to expand the knowledge of employees on the subject. In
Raiffeisen Bank S.A., Bucharest, all employees undergo training on the topics of harassment and discrimination, and specific
diversity and inclusion workshops are held with 150-200 participants each. In both Raiffeisen Bank Zrt., Budapest, and Tatra
banka a.s., Bratislava, code of conduct training is held with the objective of raising awareness about recognizing and
combating discrimination based on gender, cultural aspects, religion or sexual orientation. In nearly all countries, additional
training is offered specifically for leaders to raise their awareness of diversity issues.
Skill development trainings
As a result of the increasing presence of artificial intelligence (AI) in the workplace, the AI Pioneer Program was introduced in
2024. This program aims to accelerate company-wide AI adoption and increase the AI literacy of employees, thereby advancing
RBI's AI transformation. To maximize the benefits of AI tools, they must be used actively, responsibly and intelligently. In the AI
Pioneer Program, around five per cent of employees are active as AI Pioneers, voluntarily taking on this role alongside their daily
work. They are the primary supporters in integrating AI into daily work, and keeping their colleagues informed about new tools
and applications. In 2025 there were around 200 AI Pioneers in head office and 1,700 AI Pioneers within the Group.
Leadership development
The initiative "Make impactful conversations happen!" has been strengthening RBI leaders' communication skills since 2024 and
was expanded to all employees in 2025 to promote self-awareness, responsibility and trust; its effectiveness is measured
through feedback and participant numbers.
Employee involvement
As stated in the Code of Conduct, RBI encourages employees to proactively address changes and share opinions with
management via communication channels. The expected outcome is to maintain a high employee engagement by giving
employees a voice.
The subsidiaries of RBI therefore have various formats and bodies in place that facilitate exchange between employees and
management, or act as a mouthpiece for the employees.
Exchange formats
On the one hand, some subsidiaries of RBI have their own works council and/or are members of the European Works Council.
On the other hand, other formats are also offered to stimulate exchange, such as joint calls with the CEO, where employees
have the opportunity to ask questions anonymously, employees surveys and the whistleblowing tool as mentioned in the
chapter S1-3 regarding channels to raise concerns. Local formats are also offered, like local phone number and e-mail-address
(Raiffeisen Bank Sh.a., Tirana,), a company union with voluntarily membership (Raiffeisen Bank d.d. Bosnia and Herzegovina,
Sarajevo) or a social tool for anonymous reporting (Croatia). The actions shall ensure, that all employees have various
possibilities to be heard and understood.
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Employee survey
The employee survey should be conducted regularly, approximately every two years. The expected outcome is to receive
anonymous feedback from the majority of employees on various topics, thereby gaining insight into what concerns employees,
what they are satisfied with and where action is still needed. In 2025, 84 per cent of the employees participated in the survey in
the head office.
Employee Relationships
Work-life-balance
Global labor market trends show that flexibility is particularly desirable for many employees, which is why all units of RBI offer
a hybrid working option as well as the possibility of working part-time. In addition, all Group companies offer the possibility of
educational leave. These actions are planned on a medium mid-term horizon and their effectiveness evaluated based on the
number of employees who take advantage of it, as well as the feedback in employee surveys.
Also, additional services such as subsidized summer camps, extra vacation days during the holiday season or supported
kindergarten places are offered.
Pay equity
To meet the requirements of the upcoming Pay Transparency Directive, a project was initiated in 2025. An initial analysis of pay
equity was conducted for three companies within the Group. Analyses are made at the company level that, taking into account
all objectively verifiable factors, reveal the gap between the salaries of men and women in equivalent roles. According to the
directive, this gap must not exceed five per cent. As part of this project, areas where action may be needed will be identified,
along with potential solutions. By June 2026, the directive must be implemented by the individual EU member states, and from
that point on, companies must comply with its requirements.
As it is stated in the group total rewards policy, RBI fosters the development, satisfaction and loyalty of RBI employees by
providing financial stability and by focusing performance management on the development of its staff members. The
expected outcome of the action is to have equal pay for women and men for equal work or work of equal value in every
department and on every hierarchy level in RBI.
Social benefits
To increase employee satisfaction, all Group companies offer different social benefits. Within Austria, the social benefits are
documented in collective agreements, see also chapter Company agreements. All Group companies offer promotion of cultural
events, whether through a reduction in ticket prices for specific events or a refund of ticket prices. Private health insurances or
pensions funds are also financially supported. Nearly all Group companies offer subsidized public transport costs and the
majority also provide company canteens. All the actions for social benefits are reviewed regularly, planned in the short-term
and evaluated on the basis of the number of people who take advantage of it.
Health
The health of employees is of utmost priority and this priority is also mentioned in RBI’s Code of Conduct. The objective of the
actions mentioned is to ensure that the health of RBI’s employees is not compromised in any way.
Statutory standards for occupational health and safety
The health of employees is a central issue in the countries in which RBI is active. The statutory standards for occupational
health and safety are complied with in all countries, and the corresponding committees and officers set up and appointed.
These standards and the resulting actions apply to all RBI employees. Responsibility for health management lies with People,
Culture & Organization and the local human resources departments. They are supported by the local facility and safety units,
company doctors or the members of the Staff Council, and external service providers.
The processes are accompanied by ongoing monitoring and corresponding evaluations, which follow a risk-based approach.
Every month, the health@RBI team at head office evaluates the measures defined with the respective officers and implements
any necessary changes as quickly as possible. Reported or identified risks are processed and resolved.
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298 Group management report
Health checks and sport
The health checks and sport actions are intended to provide all employees with the opportunity to pay attention to their
health, promote it and receive support to further enhance it. All subsidiary banks offer regular health checks and, in some
cases, additional examinations can be accessed at discounted prices. In addition to health checks, sports courses such as yoga,
further training on the subject of health and discounts on selected fitness club memberships are also offered. To maintain
physical health, importance is placed on the correct ergonomic design of the workplace. .
Mental health
Besides physical health, mental health is of significant importance. To prevent health issues such as burnout, it is important to
provide employees with a good work-life balance and also to offer them opportunities to access mental health services. The
offerings range from webinars and courses to consultations with coaches or psychotherapists. At most of the subsidiary banks
in Central and Eastern Europe, there are various measures in place to support staff affected in the event of bank robberies, like
psychological assistance, crisis management workshops and individual advice.
Training initiatives to increase resilience can be found in the sub-chapter Training initiatives.
S1-5: Targets related to managing material negative impacts, advancing positive
impacts, and managing material risks and opportunities
To create an attractive and high-performing working culture in line with the Group strategy map, the goals for 2025 for the
Group People, Culture & Organization include maintaining the high standards in the whistleblowing process. Similarly, the
existing high standards regarding the provision of flexible working conditions and hybrid work models are to be upheld.
In 2025, the updated diversity, equity and inclusion policy was published.
By 2030, RBI has two clear goals for gender balance in top management (Supervisory Board, Board and B-1):
· In any unit where the underrepresented gender currently makes up less than 30%, that share is to be increased by at
least five percentage points.
· Across the whole Group, it is to be ensured that at least 35% of top management are from the underrepresented
gender.
More information can be found in the Corporate Governance Report.
Metrics related to own workforce
Cross-metric methods and significant assumptions
For the calculation of the metrics in the following disclosure tables (from S1-6 to S1-17), only Group units of the IFRS
consolidation scope with more than 100 employees were considered. The difference to the total IFRS consolidation scope is 682
employees.
The measurement of the parameters has not been validated by any external party other than the entity responsible for the
quality assurance of the non-financial statement. The figures were reported as headcounts, either as of the reporting date or
for a specific period. Where it was possible to provide either point-in-time values or average values, point-in-time values were
disclosed.
S1-6: Characteristics of the undertaking’s employees
Number of employees by gender

in headcount | 31/12/2025 | 31/12/2024
Male | 17,088 | 17,146
Female | 25,839 | 26,428
Other | 0 | 0
Total | 42,927 | 43,574

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Number of employees by country, if over 10 per cent of the total employees

in headcount | 31/12/2025 | 31/12/2024
Austria | 5,331 | 5,390
Romania | 4,796 | 5,047
Russia | 8,509 | 8,852
Ukraine | 5,456 | 5,690

Number of employees by employment type

| 31/12/2025 | 31/12/2024
in headcount | Male | Female | Other | Not disclosed | Total | Male | Female | Other | Not disclosed | Total
Employees | 17,088 | 25,839 | 0 | 0 | 42,927 | 17,146 | 26,428 | 0 | 0 | 43,574
Permanent employees | 16,117 | 24,344 | 0 | 0 | 40,461 | 16,095 | 24,752 | 0 | 0 | 40,847
Temporary employees | 971 | 1,495 | 0 | 0 | 2,466 | 1,051 | 1,676 | 0 | 0 | 2,727
Non-guaranteed hours employees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
Full-time employees | 16,376 | 23,944 | 0 | 0 | 40,320 | 16,411 | 24,534 | 0 | 0 | 40,945
Part-time employees | 712 | 1,895 | 0 | 0 | 2,607 | 735 | 1,894 | 0 | 0 | 2,629

Employee turnover

in headcount | 31/12/2025 | 31/12/2024
Employees who left | 6,655 | 7,855
Rate of employee turnover | 16% | 18%

These metrics use headcounts, which include active headcounts (passive headcounts: 3,479). These comprise all employees
with valid employment contracts, excluding those on maternity and long-term leave or other types of sabbaticals.
The recognition of a third gender is legally possible only in Austria and not in any other country where RBI operates. Therefore,
this information is available only for Austria.
The rate of employee turnover is calculated by dividing the total number of employees who leave voluntarily, due to dismissal,
retirement or death in service by the total number of employees.
The most representative number in the financial statements can be found in note (54) Employees of the consolidated financial
statements.
S1-7: Characteristics of non-employees in the undertaking’s own workforce
Number of non-employees

in headcount | 31/12/2025 | 31/12/2024
Non-employees | 3,769 | 3,486

A distinction is made between individuals who come to RBI under a service contract between RBI and another company to
provide the services specified in the contract, and those who have signed a contract with a temporary employment agency. In
the latter case, RBI is responsible for defining and structuring the tasks. Additional Information on the most common types of
non-employees can be found in the sub-chapter ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction
with strategy and business model of the chapter Own workforce.
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S1-8: Collective bargaining coverage and social dialogue
Rate of employees with collective bargaining or employee representation coverage

31/12/2025 | Collective bargaining coverage | Social dialogue
Coverage rate | Employees - EEA (by country, if > 10% of total employees) | Employees - non-EEA (by region, if > 10% of total employees) | Workplace representation - EEA (by country, if > 10% of total employees)
0-19% |  | Russia |
20-39% |  |  |
40-59% |  |  |
60-79% |  |  |
80-100% | Austria, Romania | Ukraine | Austria, Romania

The table above shows the countries with significant employment (representing at least ten per cent of total employees),
where employees are covered by collective bargaining agreements and workers’ representatives.

in per cent | 31/12/2025 | 31/12/2024
Employees covered by collective bargaining agreements | 40% | 41%
Employees covered by workers' representatives | 45% | 45%

The preceding table presents the percentage of the Group’s total employees covered by collective bargaining agreements and
workers’ representatives.
Agreement is in place with RBI’s employees in seven countries for representation by a European Works Council. See also chapter
S1-2: Processes for engaging with own workforce and workers’ representatives about impacts.
S1-9: Diversity metrics
Number and percentage of persons at the top management by gender

in headcount | 31/12/2025 | 31/12/2024
by gender |  |  |  |
Male |  |  |  |
B-1 (second tier of management) | 402 | 61% | 419 | 63%
B-2 (third tier of management) | 940 | 53% | 924 | 53%
Female |  |  |  |
B-1 (second tier of management) | 254 | 39% | 250 | 37%
B-2 (third tier of management) | 823 | 47% | 835 | 47%

Number and percentage of employees by age

in headcount | 31/12/2025 | 31/12/2024
by age |  |  |  |
Under 30 years old | 8,601 | 20% | 9,211 | 21%
Between 30 and 50 years old | 26,543 | 62% | 27,099 | 62%
Over 50 years old | 7,783 | 18% | 7,264 | 17%

S1-10: Adequate wages
RBI pays all employees an adequate wage.
S1-11: Social protection
In Kosovo, employees do not have social protection concerning life events such as sickness and unemployment. In all other
countries, the employees have social protection concerning life events such as sickness, unemployment, injury and acquired
disability, as well as for parental leave and retirement.
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S1-12: Persons with disabilities
Employees with disabilities

in per cent | 31/12/2025 | 31/12/2024
Employees with disabilities | 1.63% | 1.48%

This metric is based on local law regulations. According to local laws, an employee can be classified as disabled by a
designated authority if they meet specific criteria.
S1-13: Training and skills development metrics
Employees with regular performance and career development

in per cent | 31/12/2025 | 31/12/2024
Employees that participated in regular performance and career development reviews | 92% | 92%
Male | 93% | 93%
Female | 92% | 92%

The figures here include all employees who participated in regular performance reviews. More information can be found in the
subchapter Group performance management.
Average number of training hours per employee

in hours | 2025 | 2024
Trainings per employee | 31 | 34
Male | 29 | 31
Female | 33 | 36

Training hours include all mandatory trainings (such as compliance and security trainings), in‑person and online trainings
delivered by internal and external trainers organized by RBI, as well as e‑learnings, external trainings at training institutes and
conferences.
S1-14: Health and safety metrics
Percentage of employees within the own workforce, covered by the company's health and safety management
system based on legal requirements and/or recognized standards or guidelines

in per cent | 31/12/2025 | 31/12/2024
Employees covered by health and safety management systems | 100% | 100%

Fatalities due to work-related injuries and work-related illnesses

| 2025 | 2024
Number of fatalities as a result of work-related injuries among employees | 0 | 0
Number of work-related accidents | 64 | 86
Rate of recordable work-related accidents | 0.85 | 1.11

In more than half of the countries, accidents that occur on the way to and from work are considered work-related under local
law. This affects 41 per cent (previous year: 42 per cent) of employees.
S1-16: Remuneration metrics (pay gap and total remuneration)
Gender pay gap
The gender pay gap according to ESRS requirements shows the unadjusted ratio on the RBI level based on raw data reported
by the entities in scope. It purely shows the difference of average pay levels between female and male employees, expressed
as percentage of the average pay level of male employees. This required approach is a straightforward calculation without
any regression analysis (no inclusion of natural log of wages on gender and other pay factors like experience, location,
education, purchasing power and tenure).
The gender pay gap is strongly influenced by countries with an extensive retail branch network whose workforce is primarily
female. Furthermore, elements such as cultural patterns in different countries, governmental programs and policies on social
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security or demographics are not taken into account. Likewise, the relative value of different roles is not considered in the
calculation of the unadjusted gender pay gap. Therefore, the ratio has very limited significance in this form. As of 31 December
2025, the respective RBI ratio is 38 per cent (previous year: 38 per cent).
RBI voluntarily discloses the gender pay gaps per country, including the unweighted RBI total average. The individual gender
pay gaps of all countries are added together and then divided by the total number of countries considered. This results in a RBI
ratio of 27 per cent in 2025 (previous year: 27 per cent); (details are shown in the table below). The unweighted average is
reported as supplementary information because it consolidates the strongly varying country-specific conditions into a single
figure and thus provides an additional way to interpret the group-wide value. In addition, an analysis of the equal pay gap is
currently underway within RBI in accordance with the Pay Transparency Directive (EU) 2023/970, which examines whether equal
pay is provided for the same positions.
Gender pay gap per country

in per cent | 31/12/2025 | 31/12/2024
Albania | 21% | 19%
Austria and other | 15% | 18%
Bosnia and Herzegovina | 23% | 23%
Croatia | 20% | 21%
Czech Republic | 36% | 38%
Hungary | 30% | 31%
Kosovo | 19% | 15%
Poland 1 | 20% | 20%
Romania | 27% | 27%
Russia | 39% | 42%
Serbia | 24% | 25%
Slovakia | 30% | 32%
Ukraine | 44% | 45%
Total (unweighted average) | 27% | 27%

1 Previous-year figure adapted (reported in 2024: 10 per cent; due to non‑FTE‑adjusted 2024 remuneration data)
Total remuneration ratio
The ratio of the annual total remuneration of the highest-paid individual to the median of the annual total remuneration of all
employees (excluding the highest-paid individual) for 2025 is 82 (previous year: 89)1. The ratio of the total annual remuneration
includes the base salary, the function-related allowance and – where applicable – the annual variable target remuneration.
The compensation data was adjusted for working hours to create a common basis and ensure comparability of the data.
Foreign currency amounts were converted into euros, thereby accounting for exchange rate effects in the case of countries
with local currencies different from the euro.
1 The ratio includes the compensation elements described in the text; additional compensation elements, such as remuneration for supervisory board mandates in subsidiaries, have so far been excluded
for better year-to-year comparability. A corresponding adjustment of the ratio would not lead to a significant change for the year 2025, but for 2024 it would likely increase to approximately 95.
S1-17: Incidents, complaints and severe human rights impacts

| 31/12/2025 | 31/12/2024
Number of incidents of discrimination (including harassment) 1 | 12 | 10
Number of complaints filed through channels for people in the undertaking’s own workforce to raise concerns (including grievance mechanisms) | 58 | 63
Total amount of fines, penalties and compensations for damages as a result of the incidents and complaints disclosed above | 0.0 | 0.0
Number of severe human rights incidents connected to the undertaking's workforce | 0 | 0
Total amount in € million of fines, penalties and compensations for damages related to severe human rights incidents | 0.0 | 0.0

1 Previous-year figure adapted (reported in 2024: 4; rectification of an identified data input inconsistency)
The channels through which complaints regarding discrimination are collected include written channels (e. g. e-mail, letter, fax,
website submission, social media, online banking, etc.) and oral channels (e. g. telephone, personal, etc.).
Fines, penalties and compensation payments related to serious human rights violations are recognized as operating expenses
and, if material, are disclosed separately (see (7) General administrative expenses in the consolidated financial statements).
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Workers in the value chain
S2-1: Policies relating to value chain workers

Policy | Code of Conduct
General objective | see chapter Business conduct
Related IRO | Workers in the value chain, human rights protection; The ESRS topic related to this policy is Workers in the value chain, human rights protection and is connected to a a potential negative impact, which might be related to the human rights topics of forced labor, child labor, health and safety, working conditions and non-discrimination.
Key contents | Key aspects of the Code of Conduct related to human rights emphasize that RBI respects and supports the protection of human rights and is determined to avoid involvement in business relating to products that could contribute to violations of human rights. RBI respects and supports the protection of human rights as stipulated in the European Convention on Human Rights, the Universal Declaration of Human Rights, and the UN Guiding Principles on Business and Human Rights. RBI aims to engage in business that is in line with these principles and strives to neither directly nor indirectly finance any transactions, projects or parties, nor cooperate with any business partners (including customers, service providers and suppliers) that do not adhere to these standards or are suspected of human rights violations, including any form of modern slavery and human trafficking. RBI seeks to avoid any business involving products that are intended to be used for the abolition of demonstrations, political unrest or any other violations of human rights. This applies in particular to countries where political unrest, military conflicts or other violations of human rights are either ongoing or expected. RBI is aware of sensitive business fields (especially, but not limited to, nuclear power, coal, military goods and technologies in the defense sector and gambling), which are handled with care and for which internal policies have to be followed by staff members (see the description of RBI policies below). For further information on the content of the Code of Conduct see chapter Business conduct.
Value chain / Own operations | Downstream value chain - corporate customers and financial institutions
Affected stakeholders | Corporate customers
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments
Other details regarding the policy | see chapter Business conduct

Policy | Human rights policy
General objective | The policy serves as a starting point for implementing a procedure to fulfill human rights due diligence at the customer level, aiming to avoid or mitigate negative impacts, such as those related to working conditions, equal opportunities or any other work-related rights.
Related IRO | Workers in the value chain, human rights protection
Key contents | RBI’s human rights policy sets out values, areas of impact and influence, as well as its responsibilities in relation to human rights in accordance with the Code of Conduct. It describes the measures that RBI takes to achieve its human rights objectives and fulfill these responsibilities, such as respecting, promoting and strengthening human rights within its sphere of influence and not supporting any form of child labor, forced labor, human trafficking or modern slavery. A key element for assessing compliance with human right principles is the risk-based human rights due diligence process. The due diligence process regarding human rights issues aims to identify, track, prevent, mitigate and, if necessary, remedy the potential human rights impacts associated with the activities of the analyzed company. When identifying the human rights impacts of RBI’s activities, the local and national contexts and involved industries must be taken into consideration (e.g. a local business in a high-risk industry within the European Union may have a lower impact than a low-risk industry within a high-risk country). For more information regarding general key contents of the human rights policy please refer to chapter S1: Own workforce.
Process for monitoring | More information regarding RBI’s human rights policy can be found in the sub-chapter H uman rights policy in the chapter Own workforce.
Scope / Exclusions | More information regarding RBI’s human rights policy can be found in the sub-chapter Human rights policy in the chapter Own workforce.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Customers
Most senior level responsible | More information regarding RBI’s human rights policy can be found in the sub-chapter human rights policy in the chapter Own workforce.
Reference to third party standards | UN Guiding Principles on Business and Human rights; the Universal Declaration of Human Rights, International Covenant on Civil and Political Rights, International Covenant on Economic, Social and Cultural Rights, Fundamental Principles of the International Labour Organization (ILO) and Standards of the Global Reporting Initiative (GRI)
Consideration of key stakeholders | Ludwig Boltzmann Institut für Grund- und Menschenrechte
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Process policies (lending business)
Corporate rating manual and counterparty credit policy

Policy | Corporate rating manual
General objective | Assess customers in terms of their social and governance performance – as well as their long-term repayment ability. Any kind of ESG risks are thus considered in lending decisions too.
Related IRO | Workers in the value chain, human rights protection; Protection of human rights of workers in the value chain connected to human rights topics of forced labor, child labor, health and safety, working conditions and non-discrimination
Key contents | Any corporate customer of RBI will be assessed and screened if negative impacts are identified, or if the customer is in the process of taking action or implementing remediation to remove potential negative impacts. ESG scores are used for credit portfolio steering via risk costs and pricing impacts. On a mid-term horizon, ESG scores will be incorporated into the credit ratings of RBI’s customers. A corresponding monitoring process is in place, as the ESG score will be determined as part of the annual credit rating process. Thus, when a credit rating is updated, the ESG score will also be revised and any new information on the value chain workers or affected communities will be collected to calculate the ESG score. In addition, the counterparty credit policy includes ESG assessments of the customer and the industry the customer is operating in into the final lending decision. The procedure for implementing or facilitating remedial actions is also regulated in the counterparty credit policy. The policy refers to RBI’s entire corporate loan portfolio, irrespective of the customers’ geographical location. Therefore, across RBI, all corporate customers are required to be assessed in terms of their ESG performance via the ESG scoring approach (details can be found in the chapter S2-3: Processes to remediate negative impacts and channels for value chain workers to raise concerns).
Process for monitoring | The manual has to be amended on a continuous basis to ensure that the most recent standards and aspects relating to ESG performance are covered. Several meetings of the stakeholders (with account managers, underwriting departments etc.) take place within a calendar year to ensure the effectiveness of the process described in the manual. Changes to the manual are coordinated with the stakeholders in advance and communicated to them in a timely manner.
Scope / Exclusions | RBI
Value chain / Own operations | Downstream value chain - corporate customers
Affected stakeholders | Vendors, corporate customers, data providers
Most senior level responsible | The Head of the Group Corporate Credit Analysis department is responsible for the corporate rating manual as well as the ESG scoring model. The Head of the Group Corporate Credit Management division is responsible for the counterparty credit policy.
Reference to third party standards | EBA guideline 2020/06 – Loan origination and monitoring; Regulation 2020/852 – EU taxonomy; EBA Guideline 2025/01 on management of environmental, social and governance risks
Consideration of key stakeholders | Credit portfolio management (country, industry limits); Underwriting departments (for credit risk management statement); Account managers: Risk controlling (climate-related stress tests)
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

RBI business compliance framework for institutional clients and corporate customers

Policy | Business compliance framework for institutional and corporate customers
General objective | RBI’s business compliance framework is a policy which serves as the guiding document that determines RBI’s compliance risk appetite in the institutional and corporate customers segments or equivalent areas of responsibility at RBI. By incorporating human rights topics into the overall customer risk assessment, material customer-related risks in this area should be identified
Related IRO | Workers in the value chain, human rights protection
Key contents | The policies outline the definition and weighting of each compliance risk indicator and the follow-up measures depending on the final risk assessment, which can range from enhanced due diligence through to the termination or rejection of a customer relationship. Among the various indicators defined within the scope of the framework, adverse information derived from media on countries and customers plays a significant role in the weighted risk assessment. Human rights implications form part of the adverse media screening. The policy is updated according to the reputational considerations and regulatory requirements.
Process for monitoring | As the policy is based on RBI business needs as well as the respective regulatory landscape, it has be amended continuously to cover respective changes.
Scope / Exclusions | Institutional and corporate customers segments or equivalent areas of responsibility at RBI
Value chain / Own operations | Downstream value chain
Affected stakeholders | see Scope / Exclusions
Most senior level responsible | Head of CIB Lifecycle Management
Reference to third party standards | The RBI business compliance framework is based on the Austrian Banking Act, EBA Guideline on Internal Governance (GL 44), 5th EU Anti-Money Laundering Directive, Financial Markets Anti-Money Laundering Act (FM-GwG), Beneficial Owner Registry Act (WiEReG) and EU regulations for the implementation of financial sanctions and embargoes, as well as relevant internal policies and regulations.
Consideration of key stakeholders | _
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Policy | ESG process flow for corporates
General objective | Consider environmental, social and governance performance into credit lending decisions
Related IRO | Workers in the value chain, human rights protection; Protection of human rights of workers in the value chain connected to human rights topics of forced labor, child labor, health and safety, working conditions, non-discrimination
Key contents | RBI has set up a process to screen critical transactions from an ESG point of view, and to avoid business that is in conflict with the UN Global Compact. By joining the UN Global Compact, RBI endeavors to pursue the ten principles expressed by this initiative. They include the following labor rights: · Businesses upholding the freedom of association and the effective recognition of the right to collective bargaining · The elimination of all forms of forced and compulsory labor · The effective abolition of child labor · The elimination of discrimination in respect of employment and occupation ESG criticality checks and ESG expert opinions are part of the ESG process flow for corporates. The ESG risk framework is set up to assess lending transactions that have the potential to negatively impact the environment or society, and hence could be considered critical (ESG-critical) from a sustainability viewpoint. The ESG expert opinions assess the ESG impact of the transaction and present the conclusion on whether the transaction should not be pursued from an ESG impact perspective. The recommendation also includes a qualitative assessment to ensure that ESG impacts are considered in lending decisions. By doing so, RBI prevents financing activities that would have a negative impact on value chain workers. For this process, RBI has developed a reporting tool that provides details such as the name of the responsible expert, the date and time, and a description of the respective ESG expert opinion. The process is monitored through a four-eyes principle.
Process for monitoring | The manual has to be amended on a continuous basis to ensure that the most recent standards and aspects relating to ESG performance are covered. Several meetings of the stakeholders (with account managers, underwriting departments etc.) take place within a calendar year to ensure the effectiveness of the process described in the manual. Changes to the manual are coordinated with the stakeholders in advance and communicated to them in a timely manner.
Scope / Exclusions | RBI
Value chain / Own operations | Downstream value chain
Affected stakeholders | All corporate and institutional customers
Most senior level of responsible | The Head of RBI Financial Institutions, Country and Portfolio Management and Head of RBI Group Corporate Credit Management
Reference to third party standards | EBA guideline 2020/06 – Loan origination and monitoring; Regulation 2020/852 – EU taxonomy; EBA Guideline 2025/01 on management of environmental, social and governance risks UN Global Compact
Consideration of key stakeholders | Under the leadership of Credit Portfolio Management, several departments at head office and the subsidiary banks in Central and Eastern Europe were involved in designing the processes. In addition, Compliance and Group ESG & Sustainability Management were involved in setting up parts of the policy, as well as its implementation. In addition, the following risk department have been involved in c redit portfolio management (country, industry limits); Underwriting departments (for credit risk management statement); Account managers: Risk controlling (climate-related stress tests).
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

S2-2: Processes for engaging with value chain workers about impacts
In the event of an adverse social or governance score of the customer (see also chapter C orporate rating manual and
counterparty credit policy), RBI involves spokespersons or other representatives of the customer in the downstream value chain
to request countermeasures and obtain additional information about the situation of employees in the value chain. There is no
direct involvement of employee representatives of the customer.
S2-3: Processes to remediate negative impacts and channels for value chain workers
to raise concerns
Risk remediation process
In the event of engagement with a customer with low/poor social or governance scores (see also chapter C orporate rating
manual and counterparty credit policy), additional information on countermeasures to improve the situation of value chain
workers will be discussed with the customer. This includes continuous monitoring of the measures implemented to remediate
negative impacts. Such measures could include:
· Existence of a Staff Council
· Monitoring of employee fluctuations
· Continuous monitoring of negative news relating to value chain workers
· Rejection of additional funding for the customer if no improvement is observed
The coordination and implementation of this process involve the Risk Management and Business (relationship managers)
departments to implement and monitor improvements for the workforce in the value chain.
The above measures are also intended as strong incentives to consider negative impacts on value chain workers and to initiate
processes at the customer level to improve the situation.
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Remediation processes within the framework of due diligence regarding high human rights risks
If negative impacts relating to human rights are identified via the human rights due diligence process (for a description of how
negative impacts are identified, see the following chapter S2-4: Taking action on material impacts on value chain workers and
approaches to managing material risks and pursuing material opportunities relating to value chain workers, and effectiveness
of these actions), RBI strives to play an active role in proposing remediation steps.
Depending on the severity of the findings and the customer’s human rights track record, Group Compliance will recommend
either engaging with the customer to ensure they make concrete commitments to protect human rights, or limiting the
business relationship due to repeated or serious human rights violations.
RBI provides a whistleblowing channel, which can also be used by workers in the value chain to raise concerns in the workplace.
More information on how RBI ensures the availability of channels for raising concerns in the workplace can be found in the
whistleblowing management policy.
ESG risk framework including ESG process flow for corporate and financial institutional customers
If an ESG-critical transaction receives a negative ESG expert opinion, the relationship manager or another responsible party
may contact the customer to ask for clarification, request details of policies or obtain additional documentation. These
insights could be helpful in addressing the negative aspects or enhancing the assessment of the situation. If the ESG expert
opinion remains negative, the RBI Management Board will decide whether the transaction should proceed.
S2-4: Taking action on material impacts on value chain workers and approaches to
managing material risks, and pursuing material opportunities relating to value chain
workers and effectiveness of these actions
For several years, RBI has established a working group on human rights to introduce due diligence in relevant processes and
comprehensively embed the topic of human rights. Key stakeholders include Group Compliance, Legal Services and Group
Corporate Credit Management. The Human Rights Working Group, led by Group ESG & Sustainability Management, sets work
priorities such as the integration and adaptation of existing compliance, and risk processes with human rights context. Regular
meetings are held to report on the current work status and define further steps in different areas. In 2025, the working group
met twice and dedicated focus groups additionally worked on the UK Modern Slavery Statement, which has been published on
RBI AG´s website in June 2025 and on the further development on human rights trainings.
Human rights due diligence compliance processes
As outlined in the RBI’s human rights policy, RBI aims to respect the UN Guiding Principles on Business and Human Rights, to
recognize whether and to what extent its KYC-relevant customers comply with the human rights regulations and with this
purpose conducts a corresponding due diligence.
Currently all ESG competencies within the Compliance area have been centralized in the Capital Markets Compliance
department. Two full-time employees are responsible for ESG and human rights-related topics, including the development and
implementation of the human rights due diligence process.
Country- and sector-specific human rights score
In 2024, RBI head office implemented human rights scores to identify the human rights risks within all know-your-customer
(KYC)-relevant customers. The human rights due diligence in general is described in the RBI human rights policy.
The human rights score aims to identify business relationships with customers that pose human rights risks at various levels,
such as employment conditions or discriminatory practices. Depending on the assessment, RBI takes appropriate steps to
address these risks. The RBI human rights score is determined by the customer's country of domicile and their sector or
industry. This ongoing scoring process enables RBI to manage, steer and mitigate the human rights risks that may be
associated with its business relationships.
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Human rights high risk due diligence
In 2024, RBI head office implemented a human rights due diligence process for customers that are assessed as high risk under
the human rights score described above. The due diligence process serves to validate the high risk rating of the customer and
to identify whether a dialog with the customer is necessary before any potential limitation of business relationship. In the
course of this process, a careful assessment of the customer is conducted regarding the human rights risks they pose and the
commitments they have made in this regard. The dialog-based approach aims to encourage customers to enhance their
processes and policies for the protection of human rights.
Human rights high risk due diligence for mining companies and traders of minerals
Before onboarding customers engaged in the mining sector or the wholesale trade of minerals, Group Compliance conducts
due diligence due to increased human rights risks in this sector.
This due diligence assesses aspects such as human rights commitments made by the customer and the results of third-party
evaluations considering human rights risks. Enhanced standards are applied to customers that are involved in mining or
trading so-called conflict minerals. If material risks are identified, Group Compliance will recommend aborting the onboarding
process.
According to RBI’s head office objective, which aims to facilitate the management of the customer portfolio based on the
human rights score and improve oversight by management, the results of the human rights scoring and enhanced human
rights due diligence are regularly presented by Group Compliance to Sustainability Committee.
Adverse media process and remediation
In accordance with the Business Compliance Framework (see chapter RBI business compliance framework for institutional and
corporate customers), quarterly adverse media screening has been established for RBI’s customers and associated persons.
This media screening process is semi-automated and is conducted by a third-party system, which performs automatic
searches for existing customer base names against several global media databases in various languages. A predefined set of
key words is used to create alerts and cover various possible indicators of reputational risk (e.g. money laundering, fraud,
human rights, sanctions, environmental damage). Generated alerts are analyzed by the first line of defense to determine the
need for measures, which includes the evaluation of the severity of an adverse media finding, as well as the potential impact
on RBI and customer relationships. The first line of defense consists of the customer relationship management departments,
customer management departments, and Group business compliance departments, which are responsible for this process.
If a finding appears severe with the potential for a high impact on the customer relationship, a statement from the customer
will be collected to validate the information and ascertain what measures it will take to avoid similar reputational damage in
future. Moreover, severe findings are evaluated together with Group Compliance.
Corporate and financial institutional customers ESG score model
The ESG scoring of corporate customers takes place within Group Corporate Credit Management with 25 full-time employees
dedicated to this task. The ESG scoring is operationally managed within a pool of developers and testers is responsible for the
adequate technical implementation of the ESG scoring (so called IT Tribe). RBI’s ESG score model (see chapter C orporate rating
manual and counterparty credit policy) includes social risks and assessments that specifically relate to the following aspects:
· Signs of poor working conditions
· Supplier screening regarding human rights
· The existence of code of conducts relating to social topics
· Working conditions
· Critical business profiles (e.g. gambling, tobacco or alcohol)
· Support to and impact on communities
· Educational support to employees
· Customer data protection
These aspects are collected by the corporate analysts (risk area) and are individually assessed for all of RBI’s corporate
customers on an annual basis at least. Close alignment with the credit rating process ensures that the collection of the social
score and data is performed for all of RBI’s corporate customers every twelve months.
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Since a company's social score influences the pricing of financing and risk costs, RBI uses the following customer documents for
its assessment:
· Sustainability report
· Annual report
· Codes of conduct for social topics
· Customer presentation and questionnaire
· Ad hoc information based on news feeds
The social and governance scores are based, in particular, on the EBA guidelines for lending and monitoring.
For financial institutional customers, the similar process of assessing E, S and G scores and combining them into a single ESG
score of an entity started in 2025, and the respective information is reflected in the financial institutions ESG scoring manual
(see chapter Corporate rating manual and counterparty credit policy). The assessment of social and governance scores follows
the same methodology, which is adopted for corporate and institutional customers.
Country ESG score
The ongoing individual assessment of the social score (as a method or tool) for corporates also takes account of the social
standards (e.g. labor law, customer data protection, human rights) of the country in which the customer operates its business.
In addition, indicators relating to changes in the labor force and technological changes (to the extent that workers are
replaced as a result of changes in technology) are considered. The social score for the respective country was rolled out during
the scenario analysis in the second half of 2025 and constitutes another important step in assisting the assessments. The
country ESG score is one of the input parameters for calculating the ESG score.
ESG expert opinion (criticality check)
Within the limit review process, responsible product managers or account managers have to indicate whether the transaction
is ESG-critical or not. This is monitored by the risk manager. The case-related ESG expert opinion includes an industry impact
assessment based on the Principles for Responsible Banking (PRB) Impact Radar. The company- and project-related analysis is
loosely based on the ten principles of the UN Global Compact and the topics contained therein, such as labor standards, human
rights impacts of corporate activities and environmental impacts. In addition, sector-specific key issues based on the findings
of ESG rating agencies are taken into account. The criticality check is part of the ESG process flow for corporates/ESG risk
framework which is initiated with each lending transaction that could be ESG critical. An ESG expert opinion is thus written on
an ad hoc basis once a lending transaction is identified to be ESG critical. As RBI has developed internal sectoral policies and
exclusion criteria, the necessity of an ESG expert opinion is limited. In 2025, a total of 21 ESG expert opinions have been issued,
including updates of existing ESG expert opinions.
Human rights training
In 2025, the human rights training module within RBI's internal ESG competency online training was updated and expanded. The
due diligence process for human rights-related customer scoring reflects these updated procedures, and a dedicated chapter
on modern slavery has been added which reflect the impact of RBI’s published Modern Slavery Statement. The updated training
is included in the comprehensive online training package available on local training platforms for all RBI employees and will be
launched at the beginning of 2026. The objective is to raise awareness about human rights issues, familiarize employees with
related policies and regulatory requirements, and develop expertise among colleagues involved in related processes.
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Other details
In 2025, there were no (previous year: no) serious incidents related to human rights concerning the workforce in the
downstream value chain.
S2-5: Targets relating to managing material negative impacts, advancing positive
impacts, and managing material risks and opportunities
For 2025, RBI has set the target of ensuring that more than 97 per cent of all credit rated corporate customers will get an ESG
Score. In the base year of 2024, the respective value was 97 per cent. Within the RBI Corporate ESG score model, RBI aimed to
ensure that the proportion of unanswered data points among all data points captured in the ESG scoring process, or among all
corporate customers, will be below the 2024 base-year value of 45 per cent by the end of 2025. For 2025 RBI has 98 per cent of
its corporate rated customers assessed within ESG score. The portion of unanswered data points in 2025 was at 42 per cent.
Targets for 2026 will remain unchanged compared to 2025.
Furthermore, RBI plans to implement credit policy measures in 2026 for corporate customers with a low social or governance
score. This means that a low related score has to be considered throughout the credit lending and limit application process.
Stakeholders, including representatives of workers in the value chain, have not been involved in setting any of the above
targets. The targets for the material topic of affected communities are established within RBI as part of the company's
internal planning processes (see chapter RBI’s strategy).
Affected communities
This chapter on affected communities addresses two main themes: mitigating negative impacts on human rights and
promoting positive societal impacts, including related financial opportunities. The first theme focuses on RBI's commitment to
reducing or preventing adverse effects on communities through human rights due diligence processes and exclusion policies in
it’s downstream business activities. These efforts include excluding or limiting financing in industries like tobacco, gambling,
defense, oil and gas, thermal coal, and nuclear power to protect community health and rights. Furthermore, exclusions or limits
for investments in coal, controversial weapons and food speculation are in place. Additionally, RBI conducts rigorous
assessments of governance risks to promote transparency and accountability.
The second theme highlights RBI's efforts to generate positive impacts through social financing initiatives that support
community well-being. By providing loans that enhance access to essential services, education and employment generation,
RBI aims to foster societal progress and reduce inequalities. The bank also focuses on empowering small and medium-sized
enterprises, particularly in underdeveloped regions, to drive economic growth and social progress.
This chapter about affected communities shall provide a comprehensive understanding of how RBI integrates these dual
aspects – risk mitigation and social empowerment – into its business model to uphold its social responsibility and contribute to
community well-being.
SBM-3: Material impacts, risks and opportunities and their interaction with strategy
and business model
In the context of its sustainability efforts, RBI identifies several types of communities that are materially impacted by its
financial activities. Primarily, these include communities connected to the corporate and institutional customers in industries
where human rights concerns are prevalent. These communities typically reside in areas where industries operate, that
potentially affecting social and economic environments.
Additionally, the social financing initiatives target communities that benefit from enhanced access to essential services,
education and employment opportunities. Specifically, these initiatives support vulnerable groups such as low-income
individuals and people at risk of social and financial exclusion. In parallel, our focus on small and medium-sized enterprises
(SMEs) aims to empower businesses in underdeveloped regions, fostering economic growth and social progress. By providing
tailored financial solutions, we contribute to the resilience and sustainable development of these communities.
For an overview of significant positive and potential negative impacts on affected communities and related financial
opportunities please refer to the chapter on Description of material impacts, risks and opportunities.
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S3-1: Policies relating to affected communities
General framework
Regarding RBI’s Code of Conduct, please refer to chapter G1-1: Corporate culture for the group-wide view, and to the chapter
S2-1: Policies relating to value chain workers for specific topics relating to the human rights business.
Regarding RBI’s human rights policy, information on the group-wide view can be found in chapter S1-1: Policies related to own
workforce, while information on business-specific topics is provided in chapter S2-1: Policies relating to value chain workers.
Policies related to human rights
Sectoral policies
RBI has developed specific sector policies (described below), including those addressing human rights, which cover sensitive
areas that could pose challenges to RBI due to their potential negative impact on affected communities. These policies aim to
address the social and environmental impacts of industries with significant ESG considerations. Sectoral policies of RBI include
the defense sector policy, gambling sector policy, tobacco policy, nuclear policy, thermal coal policy as well as ESG sectoral
strategies.

Policy | Defense sector policy
General objective | Avoid promotion of military (defense) business while recognizing the internationally accepted principles of peacekeeping and self-defense under the United Nations Charter
Related IRO | Affected communities human rights protection relating to the human rights to life, health and a healthy environment
Key contents | RBI respects and supports the protection of human rights, as stipulated in the European Convention on Human Rights as well as in the UN Universal Declaration of Human Rights. As stated above, RBI makes best efforts to avoid promotion of military (defense) business while recognizing the internationally accepted principles of peacekeeping and self-defense under the United Nations Charter. For that reason, defense related entities are not primary target customers of RBI, whereas any type of business activities, respectively any provision of banking services related to controversial weapons or to companies engaged in controversial weapons, is restricted without exception.
Process for monitoring | Group Compliance analyzes, annually or, if necessary, on an ad-hoc basis, the development of the defense-related customer portfolio and, in case of necessity, proposes adjustments to the defense policy.
Scope / Exclusions | The policy is applicable to all RBI entities providing banking, investment and asset management services.
Value chain / Own operations | Downstream value chain
Affected stakeholders | The defense sector policy is applicable to any existing and prospective customers involved in defense-related business activities as well as to the banking, investment or asset management services provided to such customers or intended to be provided to the prospective customers.
Most senior level responsible | Responsibility for the defense sector policy resides with Group Compliance. The policy is subject to Management Board approval.
Reference to third party standards | Austrian War Material Act (Kriegsmaterialgesetz); Austrian Criminal Code (Strafgesetzbuch); Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on their Destruction, London, Moscow and Washington, 10 April 1972; Convention on Prohibitions or Restrictions on the Use of Certain Conventional Weapons which may be deemed to be Excessively Injurious or to have Indiscriminate Effects, Geneva, 10 October 1980 (including Protocols I, II, III, IV and V); Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction, Geneva, 3 September 1992; Comprehensive Nuclear-Test-Ban Treaty, New York, 10 September 1996; Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and on their Destruction, Ottawa, 18 September 1997; Convention on Cluster Munitions, Dublin, 30 May 2008; Arms Trade Treaty, New York, 2 April 2013
Consideration of key stakeholders | Group ESG & Sustainability Management, Risk and Business divisions
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments; RBI publishes its position statement for the defense sector on its website under defense sector: https://www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/code- of-conduct.html.

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Policy | Gambling sector policy
General objective | Minimize reputational and compliance risks associated with business activities involving customers from the betting and gambling industry
Related IRO | Affected communities human rights protection; Protection of human rights of workers in the value chain connected to the right to health
Key contents | In accordance with the policy, RBI strives to provide services only to reputable, transparent corporates in the European Economic Area or other European countries with regulated gambling markets, ensuring that they are supervised and follow responsible gambling principles, and comply with EEA-wide standards for anti-money laundering and countering the financing of terrorism.
Process for monitoring | Group Compliance analyzes the development of gambling-related customer portfolio annually or, if necessary, on an ad-hoc basis and may propose adjustments to the gambling policy on a regular basis.
Scope / Exclusions | RBI
Value chain / Own operations | Downstream value chain
Affected stakeholders | All RBI customers involved in gambling business
Most senior level responsible | Responsibility for the gambling policy resides with Group Compliance. The policy is subject to Management Board approval.
Reference to third party standards | The policy on the gambling sector takes into account relevant provisions of the Austrian gambling law (Glücksspielgesetz), the Financial Markets Anti-Money Laundering Act (Finanzmarktgeldwäschegesetz), the Payment Services Act (Zahlungsdienstegesetz) as well as global standards such as the United Nations Global Compact (UNGC).
Consideration of key stakeholders | -
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments; (position statement): https://www.rbinternational.com/en/ raiffeisen/sustainability-esg/responsible-banking/code-of-conduct.html. The position statement shall is updated by RBI Group Compliance.

Policy | Tobacco policy
General objective | Mitigate the negative health and social impacts of tobacco consumption by setting strict criteria for client acceptability
Related IRO | Affected communities human rights protection; Protection of human rights of affected communities connected to the right to health
Key contents | The tobacco policy establishes clear business rules for engaging with tobacco producers, distributors and suppliers, categorizing customers as acceptable, critical or non-acceptable. Furthermore, companies not complying with the tobacco policy are not accepted. Business with customers classified as critical is required to be reduced and run down to 0 subsequently. Acceptable producers must demonstrate high transparency and governance, a commitment to responsible labeling, packaging and marketing – particularly regarding health warnings and the protection of minors – and must be transitioning away from traditional tobacco products by offering at least one reduced-health-risk product brand in each main market. Tobacco distributors, in turn, must derive at least 75 per cent of their sales from such responsible producers.
Process for monitoring | The policy is monitored on a quarterly basis on relevant regulatory or process required updates
Scope / Exclusions | The policy applies to all group units involved in the lending business
Value chain / Own operations | Downstream value chain
Affected stakeholders | Customers across the tobacco value chain
Most senior level responsible | Head of Group Corporates
Reference to third party standards | · The World Health Organization (WHO) Framework Convention on Tobacco Control - the first legally binding global public health treaty addressing tobacco consumption · The UN’s Sustainable Development Goals: SDG3 Ensure healthy lives and promote well-being for all at all ages · Directive 2014/40/EU of the European Parliament and of the Council of 3 April 2014 on the approximation of the laws, regulations and administrative provisions of the Member States concerning the manufacture, presentation and sale of tobacco and related products · Directive 2010/13/EU of the European Parliament and of the Council of 10 March 2010 on the coordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the provision of audiovisual media services (Audiovisual Media Services Directive)
Consideration of key stakeholders | Sustainability Committee, Sustainable Finance, Supply Chain Finance
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments

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Policy | Thermal coal policy
General objective | The guideline defines how to engage with customers in the value chain and is applicable for all group units involved in the lending business.
Related IRO | Affected communities human rights protection connected to the rights to health and a healthy environment, as well as to cultural rights
Key contents | Due to the environmental risk posed by thermal coal, RBI has established a policy to phase out by 2030. As the policy primarily stems from environmental concerns and predates other sectoral policies, it therefore captures such important social factors as reducing environmental harm. For more information please see chapter E1-2: Policies: thermal coal policy
Other details regarding the policy | See chapter E1 -2: Policies: thermal coal policy

Policy | ESG sectoral strategies
General objective | The guideline defines how to engage with customers in the value chain and is applicable for all group units involved in the lending business for the sectors of oil and gas, steel, real estate and construction.
Related IRO | Affected communities human rights protection connected to the rights to health and a healthy environment
Key contents | The sectoral policies mainly take environmental risks into consideration. In addition, to incorporate social aspects, the policies includes references to RBI’s Code of Conduct and human rights policy. By reducing environmental harm, these policies take account of human rights to health and a healthy environment. The sectoral strategies foresees that financing transactions which relate to forced or child labor, health hazards or in violation of the European Convention on Human Rights or the rights of local populations or indigenous people must be avoided. Obligations under the labor and social law of the respective country as well as applicable regulations issued by international organizations (including the relevant UN conventions), economic sanctions must be followed. For more information please see chapter E1-2 Policies: Sectoral strategies and policies
Other details regarding the policy | See E1-2: Sectoral strategies and policies

Policy | Nuclear energy policy
General objective | Avoid the mobilization and promotion of nuclear energy business (as to financing, advisory or other banking services, participation, investment funds focusing on nuclear energy)
Related IRO | Protection of human rights of affected communities connected to the the right to health and a healthy environment
Key contents | RBI recognizes the serious risks associated with nuclear fuel mining and processing, the generation of nuclear energy and nuclear waste management. Recent experiences show that incidents at nuclear power plants may have serious negative impacts on the life and health of human beings, and on the environment overall. Therefore, the policy contains restrictive approaches regarding the construction and maintenance of the nuclear reactors of nuclear power plants (NPPs), companies mining, processing of and trading with nuclear fuel, or nuclear waste management providers (including storage of spent fuel of NPPs). RBI seeks to continue the cooperation with electricity providers (usually operating nuclear power plants), however with a strict segregation between nuclear energy generation and other business activities. The nuclear energy policy is applicable to any existing and prospective customers involved in nuclear-related business activities as well as to the banking, investment or asset management services provided to such customers or intended to be provided to the prospective customers.
Process for monitoring | The nuclear energy policy is subject to annual and, if necessary, ad-hoc reviews of Group Compliance. Based on the policy, RBI Group Compliance is authorized to design and implement group controls to ensure risk-based monitoring of compliance with the policy.
Scope / Exclusions | The policy is applicable to all RBI group entities providing banking, investment and asset management services.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Any existing and prospective customers involved in nuclear-related business activities as well as to the banking, investment or asset management services provided to such customers or intended to be provided to the prospective customers
Most senior level responsible | The responsibility for the nuclear energy policy resides with Group Compliance. The policy is subject to Management Board approval.
Reference to third party standards | EURATOM Treaty, Nuclear Non-Proliferation Treaty
Consideration of key stakeholders | Group ESG & Sustainability Management, Risk and Business divisions
Availability to pot. stakeholders | RBI publishes its position statement on nuclear energy on its website under the following link: https:// www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/code-of-conduct.html.

Policy | Biodiversity policy
General objective | Defines RBI vision and goals related to measuring, awareness, materiality assessment, and managing its dependencies and footprint related to biodiversity and ecosystem services. Aims to raise RBI’s contribution and customers´ engagement to enhance the protection of natural capital and biodiversity, while acting in line with the Principles of Responsible Banking and UNEP FI.
Related IRO | Protection of human rights of affected communities connected to the the right to health and a healthy environment - Biodiversity and ecosystems
Key contents | RBI aims to raise awareness and act efficiently to mitigate its impact (footprint) on biodiversity, nature and ecosystem services, as well as maximize positive and minimize losses related to biodiversity and nature. By following its biodiversity policy, RBI aims to carry on its business with full responsibility related to nature and biodiversity, and work towards the rights of society for all ecosystem services’ types: · supporting services ( e.g. photosynthesis, soil formation, nutrient cycling) · provisioning services (resources such as quality food, fresh water, pharmaceuticals, etc.), · regulating services (such as climate control, erosion control, soil health, water purity etc.) · cultural services (recreation, spiritual, tourism, etc.) · broadly summarizing - this RBI policy therefore takes account of human rights to health and a healthy natural environment For more information see chapter E4-2 Policies: biodiversity policy
Other details regarding the policy | see chapter E4-2 Policies: biodiversity policy

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Process policies
The policies relating to the due diligence process for human rights, including remediation, are the same for affected
communities and workers in the value chain. Further information on these policies can be found in chapter S2-1: Policies
relating to value chain workers.

Policy | ESG rulebook
General objective | A key goal is identifying sustainability-responsible customers and socially sustainable transactions – those that support human rights, fair labor and community well-being. To guide this, RBI introduced the ESG rulebook in 2020, providing a group- wide standard for assessing customersts and projects through ESG criteria.
Related IRO | Social progress enablement and reduction of social inequalities
Key contents | Social finance products, as defined in the ESG rulebook, include instruments like social loans and social bonds that are used exclusively to fund qualifying social projects. These products must align with recognized standards such as the LMA Social Loan Principles or ICMA Social Bond Principles, and may require approval from RBI Sustainable Finance and a positive second- party opinion. The EU Taxonomy Regulation may also be extended to cover social objectives in the future. For more information see: E1-2 Policies: ESG rulebook
Other details regarding the policy | see E1-2: ESG rulebook

Sectoral/topic specific policies for assets under management
With regard to assets under management, specific regulations that go beyond the policies for financing, and also focus on
reducing or avoiding potential negative impacts on the human rights on affected communities, are relevant:
Policy on coal
The policy on coal of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2: Policies related to climate change
mitigation and adaptation outlines the measures taken by the company to exit financing the coal industry and is related to the
IRO affected communities human rights protection (right to a clean, healthy and sustainable environment, right to health).
C limate strategy
The climate strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2: Policies related to climate change
mitigation and adaptation outlines the targets and measures the company is taking to make a suitable contribution to
fighting the climate crisis and to actively support the necessary transformation as a financial market participant. It is related
to the IRO affected communities human rights protection (right to a clean, healthy and sustainable environment).

Policy | Controversial weapons policy - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | Raiffeisen Kapitalanlage-Gesellschaft m.b.H. excludes companies that are actively involved in the production of controversial weapons.
Related IRO | Affected communities human rights protection (right to life, liberty and security of person)
Key contents | The specific definitions of controversial weapons are set out in international conventions and contain cluster munitions, chemical or biological weapons, nuclear weapons and uranium munitions, landmines and phosphorus munitions. The conventions referred to include the Convention on Cluster Munitions (2008), the Anti-Personnel Landmines Convention (1997), the Nuclear Non-Proliferation Treaty (1968), as well as the Biological Weapons Convention (1972) and the Chemical Weapons Convention (1993).
Process for monitoring | Limit system
Scope / Exclusions | Direct investments of self-managed mutual funds within Raiffeisen Kapitalanlage-Gesellschaft m.b.H. When selecting investment funds that are managed by other investment companies, this obligation is complied with as far as possible. In the management of special funds, any agreements concluded with the investor are taken into account.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of Corporate Responsibility within Raiffeisen Kapitalanlage Gesellschaft m.b.H.
Reference to third party standards | Convention on Cluster Munitions (2008), Anti-Personnel Landmines Convention (1997), Nuclear Non-Proliferation Treaty (1986), Biological Weapons Convention (1972), Chemical Weapons Convention (1993)
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/202304_policy_kontroverse_waffen_en? fr=sYmM0ZTU5Mjg0NDk).

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Policy | Food speculation policy - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy excludes investments that allow or support food speculation
Related IRO | Affected communities human rights protection (right to adequate food)
Key contents | Raiffeisen Kapitalanlage-Gesellschaft m.b.H. takes a clear position on speculation on food and agricultural commodities, which leads to the exclusion of investments in such derivative instruments for the entire range of self-managed mutual funds.
Process for monitoring | Limit system
Scope / Exclusions | Scope: all self-managed mutual funds within Raiffeisen Kapitalanlage-Gesellschaft m.b.H. When selecting investment funds that are managed by other investment companies, this obligation is complied with as far as possible. In the management of special funds, any agreements concluded with the investor are taken into account.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of Corporate Responsibility within Raiffeisen Kapitalanlage Gesellschaft m.b.H.
Reference to third party standards | -
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/202403_nahrungsmittelspekulation_en? fr=xPf81NTU).

Policy | Nuclear policy - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | Raiffeisen Kapitalanlage-Gesellschaft m.b.H. strives to systematically exit the financing of the nuclear industry by 2030. Nuclear power plants harbor incalculable risk. They not only pose a significant danger in the event of technical malfunctions, earthquakes and natural disasters but also in the case of potential terror attacks or in connection with acts of war. Also, there is the resulting radioactive waste, which in some cases takes hundreds of thousands of years to stop emitting dangerous radiation.
Related IRO | Affected communities human rights protection (right to health and a healthy environment)
Key contents | Exit pathway for investments in equities and bonds related to the nuclear industry
Process for monitoring | Limit system
Scope / Exclusions | Scope: all self-managed mutual funds with a dedicated ESG investment strategy within Raiffeisen Kapitalanlage-Gesellschaft m.b.H.; exclusions: mutual funds accord. to Art. 6 of the Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector). In the management of special funds, any agreements concluded with the investor are taken into account. In the case of outsourcing of fund management, the rules may be waived.
Value chain / Own operations | Downstream value chain
Affected stakeholders | Fund investors
Most senior level responsible | Head of Corporate Responsibility within Raiffeisen Kapitalanlage-Gesellschaft m.b.H
Reference to third party standards | EURATOM Treaty, Nuclear Non-Proliferation Treaty
Consideration of key stakeholders | -
Availability to pot. stakeholders | Published via webpage (see https://issuu.com/raiffeisencapitalmanagement/docs/20221123_nuclear_policy_ok_en? fr=sNmI1ZjU2NTkzMjU ).

Biodiversity strategy
The biodiversity strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E4-2 Policies related to biodiversity
and ecosystems sets the objectives and actions the company is undertaking to contribute to the protection of biodiversity and
natural capital, while actively supporting the essential transformation as a responsible participant in the financial market. It is
related to the IRO affected communities human rights protection .
Process policies for assets under management
Engagement strategy
The engagement strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2 Policies related to climate
change mitigation and adaptation outlines the measures and actions taken to effectively conduct engagement activities as
part of the company’s fiduciary obligations in relation to its customers and is related to the IRO affected communities human
rights protection, among others.
Sustainability strategy
The sustainability strategy of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. as described in E1-2 Policies related to climate
change mitigation and adaptation outlines the company’s framework for integrating sustainability at organizational and
product level, and is related to the IRO affected communities human rights protection, among others.
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S3-2: Processes for engaging with affected communities about impacts
In the event of a low (i.e. poor) social or governance score for a customer which could potentially affect the human rights of
communities in a negative way (see chapter Corporate rating manual and counterparty credit policy), RBI involves customer
representatives to gather additional information about the situation of affected communities and to demand
countermeasures (see chapter S3-4: Taking action on material impacts on affected communities, approaches to managing
material risks and pursuing material opportunities relating to affected communities, and the effectiveness of these actions).
S3-3: Processes to remediate negative impacts and channels for affected communities
to raise concerns
For a description of human rights-related processes to remediate negative impacts and channels for affected communities to
raise concerns see chapter S2-3: Processes to remediate negative impacts and channels for value chain workers to raise
concerns.
Whistleblowing channels
For a description of whistleblowing channels, see the sub-chapter titled Whistleblowing in G1 Business Conduct.
S3-4: Taking action on material impacts on affected communities, approaches to
managing material risks and pursuing material opportunities relating to affected
communities, and the effectiveness of these actions
Actions for s ocial financing and SME financing
RBI’s aim is to offer financial products and services in a way that supports its customers in their transformation towards a
sustainable future, thereby making a positive contribution to society (see chapter RBI’s strategy). The management of social
financing is handled in the areas of Sustainable Finance and Retail Lending Product Management (see the sub-chapter
Sustainable Finance of chapter GOV-1: The role of the administrative, management and supervisory bodies).
Social financing for corporate and institutional customers (excluding mid-market customers)
The credit line utilized by corporate and institutional customers with a positive social impact was around € 854 million as at 31
December 2025 (previous year: € 837 million). The mid-market segment, which was previously reported within the corporate
and institutional customers segment, is now included under social financing for small and medium-sized enterprises below.
Due to this change in scope, the 2025 figures presented in this chapter are not directly comparable with those disclosed in the
corresponding section of the 2024 Annual Report. To enhance comparability, the table therefore presents both the 2025 data
and the 2024 figures recalculated to exclude the mid‑market segment.
Social loans (including utilized and unutilized lines) for corporate and institutional customers amounted to € 902 billion as of 31
December 2025 (previous year: € 939 million). Out of € 854 million (previous year: € 837 million) of utilized volume, 73 per cent
(previous year: 76 per cent) focused on access to essential service s, 26 per cent (previous year: 24 per cent) related to training
and education, and 0.6 per cent (previous year: 0 per cent) related to employment generation.
The categories mentioned mainly cover loans used to finance the construction or renovation of hospitals, regional
development and basic infrastructure in underserved/underdeveloped regions, employment generation and retention as well
as the construction and renovation of schools and kindergartens.
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Breakdown of social financing by category:
Financing with a positive social impact – corporate and institutional customers (excluding mid-market
customers)

in € million | 31/12/2025 | 31/12/2024 1 | 31/12/2024 2
Access to essential services | 624 | 633 | 642
Training and education | 225 | 204 | 204
Employment generation | 5 | 0 | 575
Subtotal (utilized line) | 854 | 837 | 1,421
Unutilized line | 48 | 102 | 277
Financing with a positive impact on society and societal issues | 902 | 939 | 1,698

1 previous year revised: excluding financing to mid-market customers, which were included in the consolidated non-financial statement 2024
2 figures as reported in the consolidated non-financial statement 2024 - not comparable
One key aspect of the definition of the social category is the existence of a vulnerable target group. Details of financing with a
positive impact on society and social issues are shown below.
Access to essential services
As at 31 December 2025, the volume of RBI social financing in this category utilized by corporate and institutional customers
amounted to € 624 million (previous year: € 633 million).
At RBI AG, the following areas are primarily covered in financing activities: health and healthcare (e.g. hospitals and clinics, care
facilities), regional development and infrastructure (e.g. school buses, road construction and renovation), and drinking water
supply. Subsidiary banks in CEE mainly cover the following areas: health and healthcare (e.g. hospitals and clinics, care
facilities), regional development and infrastructure (e.g. road construction and renovation, bridge renovation, provision of high-
speed internet access in rural areas).
Training and education
As at 31 December 2025, the volume of RBI financing utilized by corporate and institutional customers for training and
education amounted to € 225 million (previous year: € 204 million).
Employment generation
In 2025, the volume of financing utilized at RBI in this category was € 4.9 million (previous year: € 0.3 million) as at 31 December
2025.
All of these aforementioned actions can be classified as an ongoing process, with no specific time horizons set for completion.
The actions will continue in the form described and at present no plans exist to discontinue them.
Social financing for small and medium-sized entities (including mid-market customers)
As of 2021, RBI progressively developed its ESG framework by defining the use of proceeds for green and social assets. This
groundwork enabled socially responsible financial products to be offered and incorporated social impact goals into RBI's
lending strategies. Concurrently, the retail ESG strategy was refined to ensure that RBI's offerings not only meet the financial
needs of small and medium-sized enterprises including mid-market customers, but also have a positive social impact.
As part of the climate and environmental business strategy, the main focus is on providing social loans aimed at employment
generation and protection in enterprises that are located in less developed regions or majority-owned by women.
As of 31 December 2025, the total volume of social financing for small and medium-sized enterprises (including mid-market
customers) amounted to € 2.341 billion.
The new sales volume of social financing for small and medium-sized enterprises (including mid-market customers) in 2025
reached around € 1.063 billion (previous year revised: € 1.110 billion; € 763 million excluding mid-market customers as reported in
the consolidated non-financial statement 2024).
These actions are meant to contribute to the achievement of the target set for social financing for small and medium-sized
enterprises and defined in chapter S3-5: Targets relating to managing material negative impacts, advancing positive impacts,
and managing material risks and opportunities and are in line with the definitions set out in the in process policies related to
social financing.
The action can be classified as an ongoing process, with no specific time horizons set for its completion. The action will persist
in the described form and there are presently no plans to discontinue it.
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Actions for human rights due diligence
Human rights due diligence compliance processes
Country- and industry-specific human rights score
For details see chapter S2-4: Taking action on material impacts on value chain workers and approaches to managing material
risks and pursuing material opportunities relating to value chain workers, and effectiveness of these actions.
Human rights high risk due diligence
For details see chapter S2-4: Taking action on material impacts on value chain workers and approaches to managing material
risks and pursuing material opportunities relating to value chain workers, and effectiveness of these actions.
Human rights high risk due diligence for mining companies and traders of minerals
For details see chapter S2-4: Taking action on material impacts on value chain workers and approaches to managing material
risks and pursuing material opportunities relating to value chain workers, and effectiveness of these actions.
Sensitive business policies
Two sectors that are significantly exposed to human rights issues are the defense and gambling sectors. However, due to
restrictive policies, the human rights risk for RBI in these areas remains low. RBI avoids mobilizing or promoting sensitive
business activities (such as financing, advisory or other banking services, participations, or investment funds focused on
sensitive sectors) by applying a restrictive approach under its relevant policies and processes. This includes enhanced KYC / due
diligence for customers, incl. specific criteria and mandatory compliance assessment as well as continuous evaluations of
customer relationships within sensitive industries.
Sensitive business fields (defense, nuclear and gambling) are subject to internal training in the RBI Group, which has to be
completed every two years. The training contributes to the objective of reducing negative impacts associated with risks
connected to such industries for financing, by increasing compliance with the relevant policies and processes. All employees of
business, risk and compliance units of RBI head office are obliged to complete the training.
Corporate ESG score model
A detailed description of the ESG score model for corporate and FI customers concerning governance risks is provided in the
relevant sub-chapter Corporate ESG score model of the main chapter S2-4: Taking action on material impacts on value chain
workers and approaches to managing material risks and pursuing material opportunities relating to value chain workers, and
effectiveness of these actions.
Other details
In 2025, there were no (previous period: no) serious incidents related to human rights concerning affected communities in the
downstream value chain.
All information provided in the sub-chapter Other details of chapter S2-4: Taking action on material impacts on value chain
workers and approaches to managing material risks and pursuing material opportunities relating to value chain workers, and
effectiveness of these actions also applies to affected communities.
Actions for assets under management related to human rights
Engagement process
A detailed description of the engagement process of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. is provided in the relevant
sub-chapter Assets under management of the main chapter E1-3: Actions and resources in relation to climate change policies.
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Investment process
A detailed description of the investment process of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. is provided in the relevant
sub-chapter Assets under management of the main chapter E1-3: Actions and resources in relation to climate change policie s.
The investment process ensures that the topics of coal, controversial weapons and food speculation are addressed through
company-wide negative criteria.
Actions on nuclear power
In 2025, Raiffeisen Kapitalanlage-Gesellschaft m.b.H. continued its systematic exit from financing the nuclear and uranium
industry, with a complete exit planned by 2030 and certain milestones to be achieved by end of 2025. This includes phasing out
investments in equities and corporate bonds related to nuclear energy and uranium production. The policy also involves
avoiding investments in countries with expansive nuclear policies, as reflected in Raiffeisen Kapitalanlage-Gesellschaft m.b.H.’s
sovereign ESG indicator. Assets under management with a dedicated ESG investment strategy are in scope of this policy.
Key actions target corporate activities in the field of nuclear energy and uranium production, energy generation and services
related to nuclear energy and specify revenue thresholds in order to support the exit from equities and bonds related to the
nuclear energy. After reaching a milestone limiting the exposure to relevant activities of investees by 2025, future actions
include the complete phase out by 2030. With regard to sovereign issuers, the nuclear exposure is integrated into the
investment process via various ecological factors which are summarized in one dedicated indicator developed by Raiffeisen
Kapitalanlage-Gesellschaft m.b.H. (Raiffeisen ESG Sovereign Indicator). The actions are monitored on a daily basis via the limit
system.
Actions on coal, climate and biodiversity
A detailed description of the actions of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. on coal and climate is provided in the
relevant sub-chapters Actions for assets under management of the main chapter E1-3: Actions and resources in relation to
climate change policie s, and for biodiversity of the main chapter E4-3: Actions and resources in relation to biodiversity and
ecosystems change.
Actions on controversial weapons
The action on controversial weapons of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. constitutes a company-wide exclusion of
direct investments in such weapons systems (cluster munitions, chemical or biological weapons, nuclear weapons and uranium
munitions, landmines and phosphorus munitions) for all self-managed mutual funds of Raiffeisen Kapitalanlage-Gesellschaft
m.b.H. The action is monitored on a daily basis via the limit system.
Actions on food speculation
The action on food speculation of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. constitutes a company-wide exclusion of
investments in derivative instruments on food and agricultural commodities (grains, livestock and soft commodities such as
sugar, coffee and cocoa) for all self-managed mutual funds of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. The action is
monitored on a daily basis via the limit system.
S3-5: Targets relating to managing material negative impacts, advancing positive
impacts, and managing material risks and opportunities
Targets related to human rights due diligence
Corporate customers
All targets mentioned in chapter S2-5: Targets relating to managing material negative impacts, advancing positive impacts,
and managing material risks and opportunities also apply to affected communities. The targets for the material topic of
affected communities are established within RBI as part of the company's internal planning processes (see chapter RBI’s
strategy). Representatives of the affected communities were not involved.
In addition, the targets in the chapter E1-4 Targets related to climate change mitigation and adaptation also impact the
affected communities human rights to health and a healthy environment.
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Assets under management
For a description of targets see sub-chapter Assets under management in chapter E1-4: Targets related to climate change
mitigation and adaptation.
Targets related to social financing for small and medium-sized enterprises
Social financing for small and medium-sized enterprises is a material business opportunity and is therefore included in RBI’s
climate and environmental business strategy.
As part of RBI’s commitment to achieving ESG goals, RBI sees significant business opportunities in granting social loans to small
and medium-sized enterprises in the CEE region. These loans represent a strategic pathway for RBI AG and its subsidiary banks
to drive social impact, while supporting the long-term growth and resilience of the region’s small and medium-sized enterprise
sector.
In managing the portfolio, RBI set a target for 2025 whereby ten per cent of new loans granted in the retail segment (including
small and medium-sized enterprises and private individuals) will come from ESG-relevant loans, including social and green
loans. This is one of the annual targets for the total loan volume set by the Retail Board at head office.
As of 31 December 2025, the share of ESG new sales (green and social) of mortgage loans and unsecured purpose loans (to
small and medium-sized enterprises as well as private individuals) accounted for 18.4 per cent of the total retail loans, which
means that the target for 2025 was fulfilled.
For 2026 the target is set as an absolute value: ESG new sales (green and social) of mortgage loans and unsecured purpose
loans to small and medium-sized enterprises as well as private individuals amounting to € 1.07 billion.
Consumers and end-users
ESRS 2 SBM-3: Description of consumers and end-users
RBI offers its private and private banking customers a broad range of products (e.g. account packages, payment services,
consumer finance, car leasing, mortgage loans and investment products). In Austria, RBI provides investment advisory and
asset management services to private customers via its subsidiary Kathrein Privatbank AG, as well as housing loans via the
building society Raiffeisen Bausparkasse Gesellschaft mb.H. and credit cards via the Raiffeisen CardService of RBI AG. The
distribution of products by Raiffeisen Kapitalanlage-Gesellschaft m.b.H. in Austria is carried out not through RBI, but through
the sales organization of the Raiffeisen Banking Group. When talking about consumers and end-users in RBI’s business, RBI
means private individuals who use RBI’s products and services for personal use, either for themselves or for others, and not for
professional purposes, including private individuals who will potentially become customers of RBI. RBI has customers of all ages
and from all types of socio-economic backgrounds.
When it comes to investment products, customers who are not professional customers according to the definition in Raiffeisen
Kapitalanlage-Gesellschaft m.b.H.’s directive on the application of WAG obligations are retail customers. This also applies to
companies for which it cannot be determined whether the relevant size criteria are met or not (large companies that meet at
least two of the following criteria at company level are considered professional customers: a balance sheet total of at least
€ 20 million, net sales of at least € 40 million, equity of at least € 2 million). The target market is defined for the standardized
asset management concepts and for all mutual funds that can potentially be sold to an advisory customer. For special funds
and individual asset management, individual contractually defined investment guidelines are typically agreed on.
Types of consumers:
· Existing customers (private individuals) of RBI
· Prospective customers (private individuals) of RBI
· All other private individuals who do not fall under the two points mentioned above, but are exposed to the
marketing and communication activities of RBI
· The aforementioned types furthermore include disadvantaged private individuals, such as people with disabilities,
elderly people, consumers from economically underdeveloped areas, migrants and refugees.
Consumers who are particularly vulnerable to privacy impacts or to the effects of marketing strategies also include vulnerable
individuals such as minors, as well as elderly customers, who may have difficulty keeping up with the digitalization of banking
services and the associated necessary data protection requirements.
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ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with the
strategy and business model
For an overview of significant positive and potential negative impacts on and risks related to consumers please see chapter
Description of material impacts, risks and opportunities.
Further impacts on cyber security and resilience
All perceptions of consumers, including customers, can impact trust in the financial sector and digital services. RBI AG and
several subsidiary banks constitute critical infrastructure in their respective countries and are therefore essential for the
functioning of the financial market, either locally or internationally, as well as for meeting the basic financial needs of
customers.
Security incidents or weaknesses in the information security management system could result in negative impacts on
individuals, groups or society. This can lead to the following:
· Reputational damage could lead to a loss of trust in financial services or digital products.
· Unauthorized access to and manipulation of confidential information could lead to misuse and financial losses.
· Incidents or unavailability of systems and services could lead to legal consequences, like fines or penalties.
· Disruption or unavailability of systems and data could result in customers being unable to use RBI’s services.
· Certain RBI subsidiaries in CEE are classified as operators of essential services (critical infrastructure) in their
respective countries and are therefore essential for the functioning of national and international financial markets.
A robust information security management system fosters trust in financial institutions and in digital services provided by the
banking group. Secure and resilient business processes and associated systems reduce the likelihood and impact of security
incidents allowing financial services to be delivered consistently, even in adverse conditions. The impacts of a secure, resilient
and reliable organization have both immediate and long-term positive effects on customers, groups of individuals and society.
Consistently maintaining high security standards in financial services benefits all end-users across various social groups.
For further details regarding cyber security see RBI’s Corporate Governance Report 2025, which provides comprehensive
information on the cyber threat landscape, reported incidents, incident handling, and resulting enhancements.
S4-1: Policies relating to consumers and end-users
General frameworks

Policy | Code of Conduct
General objective | Raiffeisen Bank International's Code of Conduct aims to ensure transparency, fairness, and respect in interactions with customers, prioritizing their needs and fostering trust while adhering to legal and ethical standards.
Related IRO | Privacy, cyber security and resilience; access to (quality) information; non-discrimination; access to products and services;
Key contents | Among others, the Code of Conduct covers basic rules for customer relations, including confidentiality and data protection, fairness, investor protection, avoidance of conflicts of interest and non-discrimination. Raiffeisen Bank International protects and uses personal and confidential customer information appropriately. Furthermore, the bank is committed to providing its products and services according to the interests of the consumers in the best possible way - by applying a high level of integrity in its dealings. In terms of discrimination of consumers in connection with its business decisions, RBI generally does not take into account the customer’s sex, race, color, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age or sexual orientation.
Value chain / Own operations | Downstream value stream
Other details regarding the policy | see chapter G1-1: Corporate culture

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Policy | Human rights policy
General objective | The policy outlines the universal values that guide the business conduct of RBI and the measures RBI is taking to fulfill its responsibility to respect human rights and manage negative impacts on human rights that it may cause, contribute to or be directly linked to.
Related IRO | Privacy
Key contents | Awareness of the importance and implementation of measures to protect privacy
Value chain / Own operations | Own operations
Affected stakeholders | Customers/consumers
Availability to pot. stakeholders | see chapter Policy frameworks as governance instruments
Other details regarding the policy | see chapter S1-1 Policies related to own workforce

Policies specifically associated with information-related impacts for consumers and end-users

Policy | Retail credit policy
General objective | The retail credit policy sets out minimum standards for all retail lending activities across network banks, ensuring consistency, risk control and alignment with market conditions in Central and Eastern Europe.
Related IRO | Access to (quality) information, Non-discrimination
Key contents | RBI is committed to responsible lending practices that ensure fairness, transparency and inclusivity. Customers have to be thoroughly informed about the implications and risks associated with different loan types, including foreign currency loans. Loan decisions are documented and stored to ensure transparency and clarity for customers regarding their loan applications within the framework of local legal requirements.
Process for monitoring | Compliance with the policy is monitored primarily by management and the relevant departments at RBI as part of regular internal processes.
Scope / Exclusions | The retail credit policy establishes the rules and minimum requirements for lending to private individuals (consumers) across the entire banking group. It outlines detailed eligibility criteria and procedural checks for the lending process, including provisions relating to access to (quality) information.
Value chain / Own operations | Own operations
Affected stakeholders | Retail lending customers
Most senior level responsible | Head of International Retail Risk Management
Reference to third party standards | EBA Guidelines on loan origination and monitoring, Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms
Consideration of key stakeholders | -
Availability to pot. stakeholders | The retail credit policy is published through the policy framework of RBI AG for all RBI units that are involved in retail lending.

Policy | Retail investment product distribution policy
General objective | The retail investment product distribution regulation defines the principles and guidelines for distributing investment products to retail customers under the MiFID II regime across all retail segments.
Related IRO | Access to products and services
Key contents | The regulation governs the sale of investment products to retail customers across all segments. It applies to all employees involved in retail investment product sales.
Process for monitoring | The process covers the advisory part, which is the most important part. This regulation requires firms to provide clear, accurate and comprehensive information about financial instruments, ensuring that investors understand the risks, costs and features of the products
Scope / Exclusions | The scope of the regulation includes investment products offered to retail customers from all retail segments. Entities covered by this document are subsidiary banks based in the EU. RBI follows a segment-based approach when it comes to investment product sales and distribution (i.e. tailored offerings aligned with the respective market and target audience). There is no explicit exclusion. Customers have to pass MiFID II appropriateness test. The product offer in general differs depending on customer segment (mass, premium, private) and channel (digital, branch).
Value chain / Own operations | Sales of in-house products is favored especially in case of premium and mass banking segment, where the customer gets only in-house products offered in branches. However in digital channels, if available in a given country or NWB, customers can chose from a wide range of products.
Affected stakeholders | Retail customers
Most senior level responsible | Head of Retail Products & Steering
Reference to third party standards | -
Consideration of key stakeholders | -
Availability to pot. stakeholders | Available internally under RBI Group Policies

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Policy | Marketing policy
General objective | The policy regulates procedures and responsibilities for uniformly controlled brand management to ensure group-wide responsible marketing practices.
Related IRO | Access to (quality) information and responsible marketing practices
Key contents | It covers the following areas: Brand management, brand architecture, brand (design) guidelines, marketing communication, marketing budgets, marketing tools; It makes the ICC Advertising and Marketing Communications Code binding as the foundation for responsible marketing practices in RBI.
Process for monitoring | Compliance with the respective policy is monitored primarily by management and the relevant departments at RBI as part of regular internal processes.
Scope / Exclusions | The policy governs brand management and marketing communication/advertising across the RBI, covering all brands used in RBI, regardless of whether it uses the Raiffeisen name or not. The policy does not cover Brand Management within the Raiffeisen Sector (Raiffeisen Banking Group Austria).
Value chain / Own operations | Own operations
Affected stakeholders | Due to the public nature of marketing communication/advertising, all stakeholder groups are affected, as they can be exposed to RBI Group marketing activities
Most senior level responsible | Head of Group Marketing
Reference to third party standards | The policy makes adherence to the ICC Advertising and Marketing Communications Code issued by the International Chamber of Commerce mandatory for all marketing communication of RBI.
Consideration of key stakeholders | -
Availability to pot. stakeholders | Available under RBI group policies; The International Chamber of Commerce Advertising and Marketing Communications Code is publicly accessible via the website of the International Chamber of Commerce.

Responsible marketing statement: RBI Group Marketing is committed to responsible marketing practices and will comply with
all applicable laws and regulations. Upholding moral and ethical standards is fundamental to how we engage with consumers,
and misleading practices have no place in marketing within RBI.

Policy | Product governance policy - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy governs the transparent and sustainable product policy, which is committed to the interests of customers. It describes sales strategy processes with regard to product solutions and main customer groups, as well as aspects of product governance and sustainability. Compliance with legal requirements must be met in a manner that is appropriate and proportionate to the nature of the financial instrument, the investment service and the target market of the product.
Related IRO | Access to quality information, responsible marketing practices
Key contents | Sales strategy and organizational aspects of product governance (related processes, sustainability, target market, fees and charges et al.)
Process for monitoring | Product launches and closures are approved by the Management Board. For mutual funds, these are dealt with in advance or, in exceptional cases, subsequently by the Product Committee. The central body responsible for product launches, changes, closures and the annual product review in the mutual fund segment is the Product Committee. The Product Governance Working Group consists of the Compliance Officer, the heads of Risk Management and Product Management, and the Fund Registration Team Leader, and convenes at least once a year and as required. The tasks of the working group include, for example, the annual review of the target market, the principles for determining performance-related fees, the investor profile and holding period.
Scope / Exclusions | The policy is valid for Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Value chain / Own operations | Own operations. The funds are distributed both in Austria within the Raiffeisenbank Group and internationally through other distribution partners.
Affected stakeholders | Key stakeholder groups are retail customers, institutional customers and suitable counterparties (e.g. authorized or supervised entities, governments, international or supranational organizations etc.).
Most senior level responsible | Head of Product Management of Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | Section 30 of the Securities Supervision Act (WAG 2018)
Consideration of key stakeholders | -
Availability to pot. stakeholders | The policy is published internally.

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Policy | WAG application policy (Securities Supervisory Act 2018) - Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
General objective | The policy implements the provisions of the Austrian Securities Supervision Act (Wertpapieraufsichtsgesetz 2018, BGBl. I Nr 107/2017 – WAG 2018) and Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organizational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive (hereinafter jointly: “MiFID II”) which apply for Raiffeisen Kapitalanlage-Gesellschaft m.b.H. The goal is to ensure user-friendly compliance with duties under MiFID II as stipulated by law. The document contains among others the customer classification according to Art. 66 Securities Supervision Act, i.e. suitable counterparties (not relevant for Raiffeisen Kapitalanlage-Gesellschaft m.b.H.), professional and private customers. The Austrian Alternative Investment Funds Manager Act (Alternative Investmentfonds Manager–Gesetz, AIFMG) distinguishes between professional investors (= professional customers within the meaning of the Securities Supervision Act) and private customers(= private customers within the meaning of the Securities Supervision Act). Art. 48 Securities Supervision Act regulates the provision of appropriate information to customers.
Related IRO | Responsible marketing practices
Key contents | Definition of customer groups, provision of information, sales activities (e.g. facilitation of business services which do or do not require a license, internal control system and document management)
Process for monitoring | Dual control principle for checking of Securities Supervision Act and anti-money laundering documentation, which involves a separate documentation in the business partner database (upload by account manager, approval process by the superior). Compliance will verify the completeness and plausibility of all MiFID II/anti-money laundering documents. Risk Management will compare the customers risk propensity – as indicated in the investor profile – with the product’s risk classification.
Scope / Exclusions | The policy is valid for all employees of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. who provide investment advice or individual portfolio management services or who prepare reports associated with individual portfolio management.
Value chain / Own operations | Own operations. The policy includes the definition of retail customers and subsequently the target market which in turn is the basis for a responsible and target group-oriented product distribution.
Affected stakeholders | Key stakeholder groups are retail customers, institutional customers and suitable counterparties (e.g. authorized or supervised entities, governments, international or supranational organizations, etc.).
Most senior level responsible | Legal and Compliance of Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
Reference to third party standards | The policy refers to the Securities Supervision Act, which in turn complies with European requirements of the Markets in Financial Instruments Directive (MiFID) II and the Markets in Financial Instruments Regulation (MiFIR).
Consideration of key stakeholders | -
Availability to pot. stakeholders | The policy is published internally.

Policy | Data protection policy
General objective | To ensure that the protection of personal data and its risks are adequately and consistently managed within the whole RBI to ensure the protection of the human right of data privacy, and ensure compliance with the General Data Protection Regulation/ GDPR (Regulation (EU) 2016/679) and local data protection laws.
Related IRO | Privacy
Key contents | Scope, roles, GDPR principles, minimum standards, accountability
Process for monitoring | Internal audits,compliance reviews, reporting lines
Scope | To define the framework, principles, and minimum standards in order to comply with GDPR and protect data privacy rights.
Exclusions | Conflicts with local regulatory demands, if any, shall be dealt with case by case in co-operation with RBI Group Data Protection Office. Any exception has to be approved in writing by GDPO.
Value chain / Own operations | Applies to RBI entities,suppliers and processors
Affected stakeholders | Consumers, employees, contractors
Most senior level responsible | Group Data Protection Office (GDPO)
Reference to third party standards | UN Guiding Principles on Business and Human Rights, International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work, Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises
Consideration of key stakeholders | Rights of data subjects, regulators, Group companies
Availability to pot. stakeholders | Accessible internally in the RBI-Intranet and on the RBI Website at https://www.rbinternational.com/en/raiffeisen/legal/data- protection-cookies.html

RBI engages with consumers transparently, providing clear information on data collection practices and obtaining consent
where required. This approach ensures that consumers are aware of their rights and RBI’s data protection practices.
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Policy | Information & cyber security policy
General objective | The primary goal is to mitigate or prevent security risks and threats that could compromise the confidentiality, integrity or availability of data, thereby safeguarding RBI's customers, end-users, RBI’s organization and reputation. A key objective is to provide reliable and secure services and products to customers by effectively managing risks and minimizing the likelihood and impact of security incidents.
Related IRO | Cyber security & resilience
Key contents | The information & cyber security policy details the scope, objectives, principles, roles, responsibilities and compliance with external regulations relating to information security. It sets forth the security requirements for the protection of information of the organization, its employees and its customers, and the secure use of IT services within RBI.
Process for monitoring | The implementation of the information security policy is regularly assessed and tested.
Scope / Exclusions | RBI’s information security policy and the respective standard framework applies to the entire group, the entire workforce and measures must be applied following a risk-based approach.
Value chain / Own operations | Own operations
Affected stakeholders | Potential and actual customers, employees, suppliers and other business partners
Most senior level responsible | The Chief Operating Officer (COO) is the most senior management level accountable for the implementation of the information security policy
Reference to third party standards | The information security policy incorporates key legal frameworks and international standards: · Digital Operational Resilience Act (DORA) · Payment Service Directive 2 (PSD2)Network and Information Security Directive 2 (NIS2) · European Banking Authority (EBA) Guidelines · General Data Protection Regulation (GDPR) · International standards: RBI AG is ISO/IEC 27001:2022 certified
Consideration of key stakeholders | The interests of stakeholders – including customers, employees, regulatory and supranational authorities, business partners, employee representatives, and membership organizations - are analyzed annually, and adjustments to RBI’s security requirements are derived as necessary.
Availability to pot. stakeholders | All information security standards within RBI are made accessible to every employee via the RBI group policies section in the intranet, and corresponding training is provided on a regular basis. In addition, contractual security requirements are agreed with third-party providers whose product or service offering could pose a security risk, and the providers are checked for an appropriate security level.

RBI has established a comprehensive information security policy and a standard framework comprising 15 standards that
outline the organizational and technical requirements for information and cyber security. Given the recent widespread usage
of Artificial Intelligence (AI) across various domains, a new security standard has been established to define requirements for
mitigating related information and cyber security risks. The protection of confidentiality and privacy are essential objectives of
the information security policy (Article 12 of the Universal Declaration of Human Rights of the United Nations).
The information security management system (ISMS) is continuously improved to enhance the security measures and their
effectiveness. Adjustments to requirements in security standards are reported to and approved by the CSO (Chief Security
Officer). The implementation status of the security requirements across RBI is regularly checked and reported to the
management.
Information on technical and organizational security measures is publicly accessible on the RBI website under security (https://
www.rbinternational.com/en/raiffeisen/rbi-group/leadership-governance/security.html). Inquiries regarding information
security are handled through the relationship managers.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 325
S4-2: Processes for engaging with consumers and end-users about impacts on them
RBI strives to achieve active engagement with consumers directly in order to understand and address their interests and
concerns, as well as actual and potential impacts on them, as shown in the following table:

Sustainability matter | Engagement format | Consideration of consumer perspectives in RBI's decision-making | Operational responsibility for engagement | Stage(s) of engagement | Type of engagement | Frequency of engagement
Data privacy | Privacy notes consent forms website information personal information info sheet part of contract | Used for further improving the processing of private data (particularly risk assessments, adjustments to information obligations, strengthening of data subject rights management, and governance decisions regarding data processing practice) | Head of Group Security, Resilience and Portfolio Governance (B-1) | Onboarding Update in event of changes | Information Confirmation | Onboarding
Access to (quality) information and Responsible marketing practices | Market research: customer satisfaction surveys/customer experience surveys | The feedback is the basis for RBI's service quality and improvement. | Head of Retail | Ongoing | Consultation | Regular
| Market research: brand health tracking surveys | The feedback is the basis for monitoring RBI’s past and planning RBI’s future. | Head of Marketing | Ongoing | Consultation | Regular
| Market research: pre- tests for new marketing campaigns | The feedback is essential for the understandability of the marketing messages and helps to avoid potentially misleading communication. | Head of Marketing | Upon new marketing campaigns | Consultation | Irregular
| Financial education initiatives | The initiatives show the maturity of the financial literacy of the consumers and effect, if relevant, the product range. | Local Sustainability Officers with respective Retail and Marketing colleagues | Ongoing | Information | Regular/ irregular
Non-discrimination (social inclusion) | Financial education initiatives | The initiatives show the maturity of the financial literacy of the consumers and effect, if relevant, the product range. | Local Sustainability Officers with respective Retail and Marketing colleagues | Ongoing | Information | Regular/ irregular
Access to products and services (barrier- free) | Customer service center (call center) | If relevant, reflected by constant product and service development | Head of Retail | We test products and journeys before launching them to ensure customers are clear on the information and steps needed, and the journeys are accessible and easy to complete. Post-launch, we conduct regular research via quantitative surveys, in-depth interviews or focus groups. | Product journey redesign based on feedback | Regular
| Consumer surveys | If relevant, reflected by constant product and service development | Head of Retail | We test products and journeys before launching them to ensure customers are clear on the information and steps needed, and the journeys are accessible and easy to complete. Post-launch, we conduct regular research via quantitative surveys, in-depth interviews or focus groups. | Product journey redesign based on feedback | Regular
| Focus groups | Reflected by constant product and service development | Head of Retail/Head of Marketing | We test products and journeys before launching them to ensure customers are clear on the information and steps needed, and the journeys are accessible and easy to complete. Post-launch, we conduct regular research via quantitative surveys, in-depth interviews or focus groups. | Product journey redesign based on feedback Consultation | Regular

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
326 Group management report
S4-3: Processes to remediate negative impacts, and channels for consumers and end-
users to raise concerns

Policy | Customer complaint management policy
General objective | RBI's customer complaint policy aims to ensure consistent and effective handling of customer complaints across RBI, enhance customer satisfaction, and facilitate compliance with legal and regulatory requirements.
Related IRO | Privacy; Access to (quality) information; Non-discrimination ; Access to products and services
Key contents | · RBI's customer complaint policy establishes a structured framework for managing customer complaints within the RBI Group, focusing on consistency, transparency and effectiveness. It defines key terms like complaint and complainant, and outlines the roles of the Group Complaints Management Function (CMF) and Local CMFs, which are responsible for overseeing complaints handling at both group and local levels. · The complaints handling process includes receiving complaints through various channels, registering them in a state-of- the-art case management system (CMS), and providing responses within specified timeframes. Ongoing monitoring and reporting are emphasized, with local CMFs required to analyze complaint data, identify trends, and report findings to management at least annually. · The policy also stresses legal compliance, clear communication with customers regarding the complaints process, and the importance of training employees to handle complaints effectively.
Process for monitoring | The Group Complaint Management Function oversees the Groups customer complaint handling process. Regular reports are provided to the Management Board and remediation measures for systematic root causes are implemented and tracked.
Scope / Exclusions | All complaints issued by customers of the bank that match the complaint definition as outlined in the Joint Committee Guidelines on complaint handling.
Value chain / Own operations | RBI’s customer complaint policy affects all internal processes that deal with banking products, services and customers.
Affected stakeholders | Customers and employees of RBI
Most senior level responsible | The most senior level that is accountable for the implementation of the customer complaint policy management is the RBI Management Board.
Reference to third party standards | The customer complaint management policy aligns with human rights principles by ensuring that complaints are treated seriously, handled transparently and customers are kept informed about the status of their complaints.
Consideration of key stakeholders | -
Availability to pot. stakeholders | All the information is available to customers and other external stakeholders on RBI’s website under Complaint Management.

RBI has established an independent complaint management function and procedures for the operational handling of customer
complaints. Consumers who are dissatisfied with RBI’s products or services may address their concerns in the form of
statements of dissatisfaction directly to RBI. Legitimate customer complaints are brought to the attention of all concerned
business units, carefully investigated, evaluated and documented in a state-of-the art case management system by an
independent complaint officer. Once an investigation is successfully completed, complaints receive the decision rationale of RBI
in written form. Furthermore, mitigation measures are implemented for all identified systematic root causes for customer
complaints by the end of each business year. Auditors periodically examine the effectiveness of RBI’s customer complaint
procedures.
Consumers may address customer complaints to RBI via a variety of official communication channels, including email, social
media, website, letter and personal hearings. Additionally, RBI participates in Alternate Dispute Resolution mechanisms and
provides contact details for external authorities, that may be addressed for escalation.
RBI assesses whether its customers have similar procedures for customer complaints in place, as part of the Know-Your-
Customer (KYC) principle.
RBI is open to any kind of feedback on its customer complaint procedures by affected consumers. Furthermore, data on
customer complaints is collected, analyzed and monitored on a regular basis to identify potential for further improvements of
RBI’s products and services as well as defining mitigation measures for systematic root causes.
Information on RBI’s customer complaints procedures is made available on RBI’s website to all consumers and end-users:
https://www.rbinternational.com/en/raiffeisen/rbi-group/leadership-governance/compliance/management-of-customer-
complaints.html. To prevent retaliation measures, RBI has established an additional anonymous whistleblowing channel, that
might be used by any third party to address RBI.
At the Austrian subsidiary Raiffeisen Kapitalanlage-Gesellschaft m.b.H., end-users have the option of contacting Raiffeisen
Kapitalanlage-Gesellschaft m.b.H. directly through the complaint management channel instead of communicating with
customer advisors. Relevant information can be found on the homepage in the complaints section at https://www.rcm.at/at-
en/global/corporate-governance/. Complaint management is situated within the Risk Management department. Relevant
processes are embedded in the organizational structure in accordance with the service directive for complaint management at
Raiffeisen Kapitalanlage-Gesellschaft m.b.H. The Raiffeisen Kapitalanlage-Gesellschaft m.b.H. customer complaint
management directive implements relevant regulatory national and international requirements, such as the guidelines of ESMA
and EBA and the MiFID provisions. The instructions of the complaint management policy describe measures that Raiffeisen
Kapitalanlage-Gesellschaft m.b.H. takes to provide or enable remediation in relation to an actual material impact. These
measures include complaint management, encompassing documenting and reporting complaints, training employees and
regularly reviewing policies.
If RBI identifies data privacy risks according to the specific categorization within GDPR, such as a data breach with a high level
of risk to customers’ personal data, RBI has processes in place to proactively notify the data protection authority and affected
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 327
customers. These notifications should typically explain the nature of the risk, what personal data is affected and the steps
taken to address the issue. This allows the affected customers to take any necessary precautions (e.g. changing passwords or
monitoring their accounts). RBI offers dedicated email contacts to raise privacy concerns or requests. Consumer privacy teams
are trained to escalate privacy complaints.
S4-4: Taking action on material impacts on consumers and end-users, and approaches
to managing material risks and pursuing material opportunities related to consumers
and end-users, and the effectiveness of these actions and approaches
Privacy-related action plan
· Clear communication with users about data handling practices and obtaining consent when required, after providing
appropriate information
· to address transparency and control for data subjects over personal data
· Development and implementation of a response plan
· to prevent, contain or remedy data breaches involving personal data
· Following predefined processes to notify data subjects and authority , when required
· to ensure incident and data breach readiness
· Conducting regular risk-based assessments of data processing activities
· Conducting employee training sessions; e-learning GDPR training, workshops and practical guidance that improve
the understanding and implementation of data protection regulations
· to address Internal accountability and governance, and the risk of non-compliance with data protection
laws
The company has also allocated resources to promote awareness of GDPR, and to ensure transparency and effective
oversight. The management structure includes a Data Protection Officer (Head of the Group Data Protection Office) and a
team of nine employees in the Group Data Protection Office. This structured allocation of resources enables users to gain a
clear understanding of how the company manages its impact on data protection and privacy, demonstrating a strong
commitment to these important areas.
The privacy actions above are based on GDPR and apply across all relevant internal processing functions, employees and
affected user groups. They are implemented on an ongoing and continuously updated basis, and contribute to the prevention,
containment and remediation of adverse impacts on customers, and are monitored through structured governance by the
group Data Protection Office, periodic reviews, training completion tracking and regular assessment outputs.
Cyber security-related actions plan
The technical and organizational security requirements defined in the information & cyber security policy and its supporting
standards are implemented to protect the confidentiality, integrity and availability of information and information systems.
The security roadmap is derived from the yearly defined information security strategy and the security guiding principles. The
group security strategy is approved by the Management Board of RBI AG. Adequate financial, human and technological
resources are allocated to manage information security throughout the organization.
As of the reporting date of 31 December 2025, 340 employees (previous year: 321 employees) were working in the field of
information security. To raise awareness that information security is everyone's responsibility, the organization offers both
mandatory and voluntary training sessions, information campaigns and events. All employees, including the Management
Board, must successfully complete mandatory information security training annually. This training addresses current security
topics, including appropriate responses to suspected security incidents, phishing attempts, emerging threats and general
information protection strategies.
RBI implements a range of technical and organizational measures that establish multiple layers of defense to address
potential threats, reduce vulnerabilities and mitigate the impact of attacks. Security considerations are integrated from the
beginning in initiatives and product developments.
The effectiveness of security measures, processes and procedures is continuously evaluated through various testing methods,
and by both internal and external audits. Furthermore, information about (potential) threats to RBI's customers and end-users,
as well as to the bank itself, is continuously gathered. Actions and measures are derived from the insights gained from the
conducted tests, exercises, assessments, incidents, near-misses as well as the threat information obtained. This approach aims
to continuously improve technical and organizational safeguards to provide secure and resilient products, and to protect
customers, end-users and their information. Potential negative impacts should be prevented as far as possible.
RBI has implemented robust processes, procedures and measures designed to swiftly identify, react to and respond to security
incidents. Incident response plans enable RBI to minimize the impact, quickly restore services to normal operation, and provide
effective remedies for customers and end-users. This proactive approach includes continuous monitoring and a dedicated
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
328 Group management report
incident response team that is regularly trained. Lessons learned are derived from past incidents. By implementing and
continuously improving efficient processes, procedures and measures to maintain information security, RBI strengthens the
resilience of its operations and upholds the trust and confidence of its stakeholders.
Actions related to a ccess to (quality) information and social inclusion of consumers and/ or end-
users

Overview of action fields |  |  |  |
RBI material topics related to impacts, risks and opportunities |  |  |  |
| Actions related to | Austria | CE | SEE | EE | UA
Topic | Access to (qual.) information | Non- discrim ination | Access to products and services | RBI AG | RBSPK | RKAG | RL | Valida | Kathrein | CZ | HU | SK | AL | BH | KO | HR | RO | RS | RU | UA
Financial education initiatives | x |  |  | ü |  | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü | ü
Partnerships with governmental organizations or NGOs with regard to financial education | x |  |  |  |  |  |  |  | ü | ü | ü | ü | ü |  | ü | ü | ü | ü |  | ü
Guidance/training for dealing with people with (non-visible) disabilities and impairments or further training measures (in addition to the Code of Conduct) to prevent discrimination |  | x |  |  |  | n.a. |  |  |  | ü | ü | ü | ü | ü |  | ü 2 | ü | ü | ü | ü
Barrier-free branch access 1 |  |  | x | n.a. | ü 2 | n.a. | n.a. | n.a. | ü 2 | ü 2 | ü 2 | ü 2 | ü | ü | ü | ü 2 | ü 2 | ü | ü | ü
Barrier-free ATM access 1 |  |  | x | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | ü 2 | ü 3 | ü 2 | ü | ü |  | ü 2 | ü 3 |  |  |
Website adaption for people with visual impairment |  |  | x | ü 2 | ü 2 | ü 2 | ü 2 | ü 2 | ü 2 | ü 2 | ü 3 | ü 2 |  |  | par t. | ü 2 | ü 2 |  | ü | ü
Adaptation of ATMs for people with visual impairment |  |  | x | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | ü 2 | ü 3 | ü 2 | ü |  |  | ü 2 | ü 3 |  | ü |
Services or product offers for women |  |  | x | n.a. |  | n.a. |  |  |  |  |  |  |  | ü | ü | ü |  |  |  |
Services or product offers for children |  |  | x | ü | ü | n.a. | n.a. | n.a. | n.a. | ü |  | ü |  | ü | ü | ü | ü |  |  | ü
Services or product offers students and/or youths |  |  | x | ü | ü | n.a. |  | n.a. | n.a. | ü | ü | ü | ü | ü | ü | ü | ü | ü |  | ü
Services or product offers for people in rural or hard-to-reach areas/with poor infrastructure |  |  | x |  |  | n.a. |  |  | n.a. |  |  |  |  |  |  |  |  |  |  | ü
Services or product offers for people with disabilities |  |  | x | ü |  | n.a. |  |  |  |  | ü |  |  |  | ü | ü |  |  |  | ü
Services or product offers for retirees |  |  | x |  |  | n.a. |  | n.a. |  |  |  |  | ü | ü | ü | ü |  | ü |  |
1 Considered implemented if this applies to at least 90 percent
2 EAA: European Accessibility Act
3 In progress
part.: partially implemented
RBSPK: Raiffeisen Bausparkasse Gesellschaft m.b.H. |  |  |  |  |  |  |  |  |  |  |
RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H.
RL: Raiffeisen-Leasing Gesellschaft m.b.H. |  |  |  |  |  |  |  |  |  |  |
Valida: Valida Holding AG |  |  |  |  |  |  |  |  |  |  |  |  |
Kathrein: Kathrein Privatbank AG |  |  |  |  |  |  |  |  |  |  |  |

RBI follows all the relevant legislation and regulation, as well as additional frameworks such as the Group human rights policy
and the International Chamber of Commerce Code, in order to prevent negative material impacts from its communication with
and provision of information to consumers. As the measures are implemented across various departments, there is no clear
allocation of resources at this level.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 329
Ongoing initiatives to illustrate the action plan:
Financial education key initiatives in 2025
In order to achieve the best possible impact when providing information on products and services, financial literacy among
RBI’s private customers is a prerequisite for their ability to make informed investment decisions and to repay loans. But it is
also an important prerequisite for access to products and services, and therefore social inclusion. The financial education
programs RBI offers are therefore not only intended for its customers but the general public. Financial literacy is implemented
in various programs within the Group. The expected outcome of the financial education initiatives is to strengthen the financial
awareness, knowledge, understanding and skills of the people. The time horizons of the individual initiatives are considered
short- to medium-term.
To boost financial literacy among children in the Czech Republic, on the other hand, Raiffeisenbank a.s., Prague, uses My
Financial Adventure in 2025; a free Minecraft-based game that combines fun and learning to improve financial literacy for
children aged 8-15. It features four interconnected stories/minigames designed to be played during a single lesson. The game is
available to download from the bank’s website for free.
A further initiative launched in 2024 is TABI, a mobile banking app from Tatra banka, a.s., Bratislava, for children, teenagers and
their parents in Slovakia that provides a safe, age‑appropriate way to learn money management and dealing with financial
responsibility under parental guidance, with the aim of improving financial literacy and money‑management skills
(understanding saving, spending, budgeting and basic banking) among children and teens). A further goal of TABI is for the
users to develop responsible financial habits (setting and reaching savings goals, prioritizing purchases, reducing impulsive
spending).
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, contributes to financial literacy initiatives within the Group by sponsoring of
the fifth Economic Olympiad, a nationwide competition held in June 2025 for high‑school students aged 14-20 across Bosnia
and Herzegovina. This Olympiad combines economic theory with practical financial‑literacy tasks.
Since 2010, Raiffeisen Bank S.A., Bucharest, for example, together with Junior Achievement Romania, has offered free financial
education resources in Romanian schools. Overall, this initiative was supported by over 300 Raiffeisen Bank professionals
volunteering more than 1,600 hours, thereby preparing generations for financial independence.
Lastly, the 2025 Financial Fitness campaign from Raiffeisen banka a.d. Beograd focused on online security as part of the
Association of Serbian Banks’ European Money Week initiative. The campaign ran throughout 2025 with flagship activities
timed to coincide with European Money Week and aimed to raise practical awareness of online-security risks (phishing,
social‑engineering, unsafe Wi‑Fi, payment fraud) using practical examples.
Digital financial know-how at your fingertips
To enable people to learn about a specific topic within the complex field of financial knowledge at their own pace and
according to their own level of understanding, the Group offers blog articles, dedicated sections, tutorial-style videos and
YouTube content, so people can learn about financial topics at their own pace and level. Two examples illustrate this
approach:
Since 2018, Raiffeisen Bank S.A., Bucharest, has provided free public access to comprehensive financial education. In 2025, the
monthly study About Money 1:1 – covering Romanians’ financial behaviors – was integrated into dedicated website articles. The
site also offers expert guidance across seven personal-finance areas.
Secondly, Raiffeisen banka a.d. Beograd has a dedicated page on its website that serves as a knowledge hub with blog articles
on current accounts, home budgeting, loans, interest rates, credit cards and online banking services since 2024. Connected to
the 2025 Financial Fitness campaign from Raiffeisen banka a.d. Beograd, the website also offers information on online security
to raise awareness on the topic through practical examples.
Any additional actions relating to the provision of access to (quality) information are conducted individually by each of the
Raiffeisen subsidiary banks in line with the local regulatory requirements and legislation.
To provide the same chances for all consumers, several initiatives regarding non-discrimination are in place within the Group.
Initiatives like trainings as well as products and services are provided on an ongoing basis:
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
330 Group management report
Raiffeisen Smart Finance
To ensure equal access to financial services and quality information, Raiffeisen Bank S.A., Bucharest, promotes financial
inclusion both in the community and through its core banking, thereby relying on innovative digital solutions that provide
standardized, unbiased assistance to all customers. Launched in 2023 and still in active use in 2025, Raiffeisen Smart Finance
(TAT) is used to help customers, by allowing the branch employee to standardize the presentation of information regarding the
products offered by Raiffeisen Bank S.A., Bucharest. Moreover, TAT offers the option to simulate a configuration of a financial
plan – based on the information a consumer provides – adapted to their objectives, needs and wishes.
Specialized financial products and services
An action taken by the Raiffeisen Bank Sh.a., Tirana, is the social loan initiative for low-income customers. By collaborating with
the Municipality of Tirana, this initiative focuses on offering a mortgage loan to people in financial distress.
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, offers a pensioners' package that includes all digital services, including a
free savings account and insurance. Persons up to 65 years of age can insure themselves – and, if applicable, their children and
grandchildren – against death caused by accident or illness. For account holders aged 65 to 75, the coverage applies only in the
case of fatal accidents. In addition, UNIQA insurance will cover any negative balance on the current (giro) account up to the
agreed insurance amount in the event of an insured incident.
One action comes from Raiffeisenbank Austria d.d., Zagreb, which waived the fee for its basic account on March 2025. Another
action to highlight is the RBA SENIOR current account package for retirees offered by the Raiffeisenbank Austria d.d., Zagreb.
This package includes, among other benefits, a 50 per cent discount on fees for national transfers to other banks as well as a
50 per cent lower fee for euro credit transfers abroad within the SEPA area executed via online banking . Additionally, two
special insurance packages are offered: the ORYX home assistance, a 24-hour assistance and accidental death insurance, or
the UNIQA insurance in case of accidental death.
By offering specialized financial products and support services designed to assist low-income customers and those facing
financial difficulties, Raiffeisen Bank Kosovo J.S.C., Pristina, aims to promote financial inclusion. For instance, affordable banking
products (accounts with low or no maintenance fees to reduce financial burdens), flexible loan options , financial counseling
and support as well as debt restructuring are offered. Not least, in cooperation with the Ministry of Social Welfare, Raiffeisen
Bank Kosovo J.S.C., Pristina, offers special pension accounts, i.e. accounts with preferential terms, reduced fees and easy access
to pension payments. Correspondingly, special loan products for customers aged 65 to 70 are provided and unique financial
concerns of retirees are addressed with the bank’s dedicated customer support.
Initiatives for improving access to financial products and services for disadvantaged groups of the
population
Removing barriers for consumers offers independence in financial matters. In accordance with the EU Accessibility Act and to
ensure barrier-free access to banking services for people with disabilities across all channels (digital, remote and physical),
several measures and improvements for accessibility within the Group took place in 2025. The subsidiaries in the EU worked on
implementing a guaranteed equivalent, usable access for people with disabilities across all services. Inspired by their example,
the non-EU subsidiaries also improved the consumer experience for disabled people:
In Serbia, the Raiffeisen banka a.d. Beograd focused on continuously improving the physical accessibility (barrier-free/
wheelchair access) of branch offices and ATMs for wheelchair users in 2025. With this ongoing and long-term project,
Raiffeisen banka a.d. Beograd, plans to make as many branch offices/ATMs on site as possible barrier-free.
Since 2023, Raiffeisen Bank JSC, Kiev, has been adapting branches and ATMs for customers with limited mobility, visual or
hearing impairments and veterans, with work continuing through 2026 and a target of at least 75% of branches being fully
barrier-free by 2026. Digital channels and the contact center are being upgraded between 2024 and 2026, while contact
centers have offered extended sign‑language interpretation since 2024. Last but not least, to improve competencies in serving
customers with disabilities and thus reduce any interaction barriers, the bank offers inclusivity training for employees in the
branches, contact center as well as for the back-office staff.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 331
S4-5: Targets relating to managing material negative impacts, advancing positive
impacts, and managing material risks and opportunities
Targets and metrics for privacy protection
For data protection, RBI has developed qualitative targets instead of quantitative targets. This reflects the Group’s governance
model for data protection, under which operational data protection compliance and the implementation of GDPR requirements
are managed locally by the respective entities, taking into account national legal specificities. At Group level, the current focus
is therefore on qualitative oversight, coordination and risk transparency.
This approach is reviewed periodically. Group Data Protection Office monitors the effectiveness in relation to material data
protection-related risks and impacts. This is achieved through the centralized collection, consolidation and analysis of reports
provided by local entities, including information on personal data breaches, regulatory proceedings and fines. These metrics
are reviewed as part of regular Group-level oversight and reporting processes.
The Group’s governance model is therefore defined qualitatively and aims to ensure consistent oversight, early risk
identification and effective support of local entities in meeting their legal obligations under GDPR. Progress is assessed using
qualitative and quantitative indicators, including the number of material breaches and regulatory fines, analyzed on a regular
basis.
Throughout 2025 reporting year, all GDPR relevant events were recorded, assessed, and documented in line with Group -wide
standards and regulatory reporting:
· Number of data breaches notified to the relevant Supervisory Authority in 2025: 34 (2024: 23)
The incidents were identified through internal control mechanisms and notified within regulatory timeline. The
measures to resolve these data breaches included immediate containment measures to limit any potential impact,
structured root-cause analysis, targeted technical and organizational remediation and preventive improvements
integrated into the relevant control frameworks to avoid recurrence.
· Number of complaints 1 from individuals that were submitted by the relevant Supervisory Authority in reporting year
2025: 6 (2024: 1)
1 Individuals may raise data protection-related concerns with the competent data protection authority. In such instances, the authority may review the
matter to confirm compliance with GDPR requirements and, where appropriate, provide guidance and indicative timelines for the company´s response.
All complaints were handled and answered in line with regulatory requirements. Data protection complaints are
monitored and analyzed as part of Group´s ongoing risk management and governance framework.
· Number of material penalties imposed by the Supervisory Authority in reporting year 2025: 0 fines (2024: 0)
Figures reported include RBI entities which are in the scope of the monitoring by Group Data Protection Office, and the Polish
branch as well as the Raiffeisen Digital Bank AG.
Targets and metrics for information and cyber security
Measurable, time-bound information and cyber security targets are derived from the security ambition level approved by the
RBI AG Management Board and are reflected in key performance indicators (KPIs) and objectives and key results (OKRs). Metrics
are defined, collected, regularly reported under established processes and acted upon. The implementation status of group-
wide security measures is monitored centrally and reported to the relevant committees.
RBI requires all employees, including the Management Board, to complete mandatory information and cybersecurity awareness
training annually. Completion is recorded in the learning management systems (LMS) for the reporting period 2025.
Progress is measured via a KPI defined as the percentage of employees with valid completion during the reporting period. Data
are sourced from the LMS. Performance is monitored and reported quarterly to the Group Security Committee and is part of
the Supervisory Board reports.
The awareness training mitigates social engineering risk and informs the employees about new security related topics. It also
supports legal and supervisory compliance. Under the established governance model, accountability for the KPI and target
resides with the Group CISO (Chief Information Security Officer), with operational support provided by HR/Learning and security
departments. Target levels (e.g. the percentage of staff with current security awareness training) are reviewed annually as
part of the security strategy update approved by the Management Board; any changes are reported to the Group Security
Committee and the Supervisory Board. When setting these targets, RBI considers the impact of its operations on consumers
and end-users, as well as applicable supervisory and regulatory requirements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
332 Group management report
Targets regarding access to (quality) information and responsible marketing practices
With the regulations in place, such as the Code of Conduct, the relevant internal policies and the voluntary adherence to the
International Chamber of Commerce Advertising and Marketing Communications Code, RBI aims to minimize complaints or
issues relating to access to (quality) information or responsible marketing practices. To promote the financial health of
consumers, the goal is to further develop products and solutions in the retail banking sector. Furthermore, the decision to
continue pursuing our existing initiatives regarding financial education has been made despite the strained economic and
geopolitical situation, and the current backlash against ESG. Thus, no specific targets relating to access to (quality) information
have been defined other than those set by individual Raiffeisen subsidiary banks in line with local regulatory requirements and
legislation.
Monitoring at Raiffeisen Kapitalanlage-Gesellschaft m.b.H. includes tracking the number of complaints (open and closed) and
the duration of complaint handling and resolution (duration < 10 days; between 10 and 30 days; longer than 30 days). The goal
is to transparently capture and measure direct interaction with retail customers.
Targets regarding non-discrimination and access to products and services
Following the rules of the Code of Conduct, RBI aims to ensure that it does not discriminate against any of its customers and
that a proper complaint and remediation process is in place should the case arise. Therefore, RBI has not set out any specific
targets for non-discrimination.
Currently, there are no group-wide targets set at the RBI level for access to products and services, because local subsidiary
banks within RBI may establish their own time-bound and outcome-oriented targets to address specific local needs and
challenges.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 333
Governance
Business conduct
G1-1: Corporate culture

Policy | Code of Conduct
General objective | The main objective of the Code of Conduct is to positively impact society by promoting fair business practices and reducing the likelihood of unethical conduct that could harm communities and RBI’s own workforce.
Related IRO | Culture of integrity; Fair partner to suppliers supporting high ESG standards
Key contents | In the Code of Conduct, RBI’s culture of equal treatment and opportunities for all employees is described under the heading of Employee Relations. Key principles include fair employment practices, no discrimination or harassment and no violence. It also prohibits any form of modern slavery and human trafficking. The Code of Conduct emphasizes the political neutrality of RBI. The Management Board of RBI may only authorize contributions to political parties under strict policy conditions. Engaging in lobbying is restricted to authorized staff only. This includes presenting RBI’s position or opinion during legislative or rule- making processes. Furthermore, RBI is committed to the promotion of free and competitive markets.
Process for monitoring | The Code of Conduct is reviewed annually and, if necessary, on an ad hoc basis and adjusted to regulatory requirements and international standards.
Scope / Exclusions | RBI
Value chain / Own operations | The Code of Conduct covers RBI’s own operations as well as all the activities of its upstream and downstream business relationships. All employees contribute to the Group’s positive perception by meeting the standards of the Code of Conduct.
Affected stakeholders | Employees, customers, suppliers (see also Suppliers code of conduct )
Most senior level responsible | RBI’s Management Board is r esponsible for the Code of Conduct and Group Compliance area administered its contents.
Reference to third party standards | European Convention on Human Rights, UN Guiding Principles on Business and Human Rights, Universal Declaration of Human Rights.
Consideration of key stakeholders | The review and updating process is a continuously evolving working process, which includes internal discussions between all key stakeholders of RBI, e.g. Group Compliance, Group ESG & Sustainability Management, Legal Services and Group People, Culture & Organization. All RBI subsidiaries participate in the adjustment process and update their local versions accordingly. The final version is subject to review by the Sustainability Committee and approval by the Management Board.
Availability to pot. stakeholders | The Code of Conduct is published across the Group in English as well as in the respective national languages on the website of RBI (https://www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/code-of-conduct.html) and its subsidiaries. Furthermore, all employees receive an email from the CEO regarding updates to the Code of Conduct. To ensure awareness of the Code of Conduct’s principles, all employees must periodically complete an e-learning exercise on the basics of the Code of Conduct. In addition, all employees must sign a compliance statement in which they commit to observe the Code of Conduct, including the disclosure and regular updating of statements on conflicts of interest. Supplier Code of Conduct: (https://www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/code-of-conduct.html )

The pillars for ethical dealings
The Code of Conduct defines six pillars of RBI’s standard for ethical business practices:
· Customer Relations: RBI protects and uses personal and confidential customer information appropriately, trains staff
to enable informed decisions, avoids misleading marketing, treats customers experiencing repayment difficulties
fairly, and does not discriminate against customers on the basis of personal attributes.
· Investor Relations: RBI continuously, comprehensively and transparently informs about the company as well as the
performance of the business and of its stock.
· Employee Relations: The Code of Conduct forms an integral part of employment conditions, ensuring ethical
behavior and compliance within RBI.
· Compliance with Laws and Regulations: RBI promotes a compliance culture that adheres to legal and ethical
standards, ensuring safe and correct organizational practices.
· Combating Financial Crime: RBI implements guidelines and procedures to prevent, detect and report suspicious
transactions, ensuring proactive measures against financial crimes.
· Social and Environmental Responsibility: RBI strives to achieve long-term profitable business while avoiding social
and environmental harm by related proper due diligence practices.
Human rights
RBI is aware of specific industries (in particular nuclear power, gambling and defense) that, due to their sensitivity, have a
potential impact on human rights. The specific policies in respect of these industries are made available internally and the
position statements on defense, nuclear power and the gambling sector are published internally and externally (for details see
sensitive business at https://www.rbinternational.com/en/raiffeisen/sustainability-esg/responsible-banking/code-of-
conduct.html).
Further information can be found in chapter S2-1 Policies relating to value chain workers and S3-1 Policies relating to affected
communities.
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Environmental protection
RBI's goal is to minimize the negative impact of its business activities on the environment and to reduce CO 2 emissions. RBI also
expects its service providers and suppliers to comply with these standards. Financing or participating in businesses or projects
that pose a risk of significant environmental harm (e.g. destruction of rainforests, pollution of land, air or water) is not in line
with RBI's business policy. Employees with related responsibilities must consider the potential negative environmental impacts
and the resulting possible reputational damage to RBI in every decision regarding a business or project, especially when RBI is
providing the financing.
Diversity and inclusion
RBI believes that embracing diversity enriches perspectives, while also positively impacting business decisions and outcomes.
RBI strives to create an inclusive workplace that establishes conditions and frameworks that are equally attractive and
beneficial for all employees. RBI is actively committed to ensuring equal opportunities for all employees, regardless of age,
gender, nationality, social origin, sexual orientation and identity, disability or religious beliefs. The importance of diversity and
inclusion is also demonstrated in the Code of Conduct as well as in the RBI diversity & inclusion policy.
UN Environment Programme Finance Initiative: Principles for Responsible Banking
As a long-standing member of the UNEP Finance Initiative, RBI signed up to the Principles for Responsible Banking (PRB) in 2021,
thereby committing to implement the six associated principles within RBI. These principles provide RBI with a framework for
taking a holistic ESG approach. The implementation of these Principles anchor sustainability at a strategic, portfolio and
transaction level, as well as in all business areas. It guides the bank in its ESG alignment activities and, most importantly, in
integrating ESG principles in its business strategy. This is underlined by dedicated ESG KPIs and advanced ESG training modules,
a portfolio impact analysis and respective target setting, tailor-made financial ESG products and services, an active
stakeholder engagement process within the ESG universe and, ultimately, a transparent and accountable disclosure of RBI´s
externally audited progress report. RBI thereby emphasizes its efforts to navigate its ESG risks, business opportunities and
impacts across four interconnected priorities — climate, nature, human rights, healthy and inclusive economies, while
redirecting capital flows towards sustainable activities. Detailed information can be found in the Responsible banking progress
statement for PRB signatories.
Corporate governance
Corporate Governance encompasses rules, processes and structures for responsible and transparent corporate management.
It provides the framework for strategic direction and oversight by the Management and Supervisory boards. Effective
communication between governing bodies, clear behavioral guidelines for employees and robust compliance support an
environment that embodies ethical standards and builds trust among stakeholders. Likewise, a culture of transparency and
diversity not only promotes adherence to requirements but also significantly strengthens the company’s stability and
reputation.
Detailed information can be found in the Corporate Governance Report as well as in the Governance chapter of the
consolidated non-financial statement.
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G1-1: Business conduct policies

Policy | Anti-bribery & corruption policy
General objective | Prevention and combatting bribery and corruption (B&C) by a robust Anti-Bribery & Corruption (ABC) program that ensures compliance with relevant legal and industry standards, thereby protecting the organization's reputation and promoting ethical business behavior among employees and management.
Related IRO | Prevent corruption
Key contents | RBI has implemented group-wide anti-corruption measures in accordance with its anti-bribery & corruption policy. The policy outlines the key duties and responsibilities of employees as well as for compliance and management functions. It also defines bribery and corruption risks and describes organizational anti-bribery and corruption standards applicable in RBI. Members of the management bodies (Management Board, Supervisory Board) and key function holders receive specific anti-bribery and corruption training as part of the Fit/Proper training program.
Process for monitoring | The policy is revised once per year.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations, upstream and downstream value chains
Affected stakeholders | Employees; Management Board; business partners; public officials; other external stakeholders
Most senior level responsible | Head of Group Compliance
Reference to third party standards | The legal basis of the policy for RBI is guided by relevant laws, i.e. the Austrian Criminal Code, the UK Bribery Act and the US Foreign Corruption Practices Act as well as further governance standards and principles. The anti-bribery & corruption policy is consistent with international legal instruments such as the United Nations Convention against Corruption published in United Nations Treaty Series vol. 2349 no. 42146 and their guiding principles.
Consideration of key stakeholders | Group Compliance, Group People, Culture & Organization, Group Security, Resilience & Portfolio Governance, Group Risk Controlling, Group Internal Audit
Availability to pot. stakeholders | RBI’s anti-bribery and corruption policy is accessible on RBI’s website under https://www.rbinternational.com/en/raiffeisen/rbi- group/leadership-governance/compliance/abc-programme.html; see the chapter Policy frameworks as governance instruments; The anti-bribery & corruption policy is regularly communicated via various channels (e.g. training, awareness messages, publication of core principles) to all internal stakeholders.

Policy | Whistleblowing management policy
General objective | Providing a transparent framework for handling Whistleblowing reports, ensuring minimum standards and a consistent approach for whistleblowing across RBI and protecting whistleblowers from retaliation, including promoting accountability and improvement within the organization.
Related IRO | Protected whistleblowers
Key contents | For the reporting of Code of Conduct violations, including market abuse, fraud, theft, embezzlement, bribery and corruption, including violations related to harassment and discrimination in the workplace, RBI provides the whistleblowing platform Whispli, which is operated by an external service provider, which enables anonymous electronic reporting. Alternatively, employees and external stakeholders can use alternative channels (e.g. telephone, email, in person, etc.). Detected violations are properly documented and followed up with the respective business units. All reports are processed in accordance with RBI group-wide standards and internal compliance investigation mechanisms on the basis of the following principles: · All investigations are conducted by a dedicated team of carefully trained employees (investigators) following strict guidelines, including the need-to-know principle. · All investigations consider all evidence provided by stakeholders via whistleblowing or other channels, and are conducted fully independently. · Findings and conclusions are presented to management and responsible functions to take risk-appropriate actions. · Investigation results and conclusions are documented in a case management system in accordance with market standards. All reports are treated as confidential and specific whistleblowing protection measures are implemented in accordance with the EU Directive on the protection of persons who report breaches of Union law (Directive (EU) 2019/1937) and the Whistleblower Protection Act (WPA) in Austria. If violations are detected, RBI imposes appropriate risk-based actions, in accordance with the internal violation management policy. RBI constantly analyzes its rules and regulations to mitigate future risks as much as possible. RBI reports on violations and breaches of the Code of Conduct to the Management Board of RBI AG and to the relevant committees (Risk Committee, Audit Committee) of the Supervisory Board of RBI AG on a regular basis (at least annually). In order to ensure awareness among RBI employees, RBI’s whistleblowing mechanism forms an integral part of the compliance training program. Whistleblowing managers who receive reports are experienced and skilled experts. They are Certified Fraud Examiners (CFE), attend regular training courses and participate in both external and internal conferences and seminars to continuously enhance their expertise. Furthermore, a refreshment training campaign was conducted in 2025 to further increase the awareness of the whistleblowing topic among RBI’s employees.
Process for monitoring | The policy is revised once per year.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations, upstream and downstream value chains
Affected stakeholders | RBI employees, Management Board, business partners and contractors, whistleblowers
Most senior level responsible | Head of Group Compliance
Reference to third party standards | RBI’s whistleblowing policy takes into consideration the EU Directive 2019/1937, Austria’s Hinweisschutzgesetz, Article 71 of Directive 2013/36/EU, Article 99g of the Austrian Banking Act, and EBA Guidelines (EBA/GL/2017/11).
Consideration of key stakeholders | Group Compliance, Group Internal Audit
Availability to pot. stakeholders | See the chapter Policy frameworks as governance instruments; RBI regularly communicates the aforementioned mechanisms to its employees through RBI’s training programs.

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Policy | Compliance training policy
General objective | Fulfilling regulatory training requirements to educate and build capabilities and of compliance-relevant topics across the organization, thereby minimizing operational risk. The compliance training policy forms part of the internal Compliance Governance Regulation.
Related IRO | Culture of integrity, Prevent corruption
Key contents | We consider consistent and targeted training to form a core element in establishing a compliant corporate culture. The compliance training policy establishes a structured training program across the Group that ensures periodic compliance trainings for all levels of expertise and on various business conduct-related subject matters. It seeks to fulfill regulatory training requirements to educate and build capabilities and awareness of compliance-relevant topics across the organization, thereby minimizing operational risk. The training program includes but is not limited to providing education on the Code of Conduct, anti-bribery & corruption, fraud, conflicts of interest, whistleblowing, anti-money laundering, international sanction compliance as well as countering the financing of terrorism and tax evasion. Attendance is mandatory for all employees, and is recorded and monitored on a continuous basis. Target audience and frequency: all employees must complete annual compliance training on a minimum standard of compliance-related topics to refresh their existing knowledge and to be informed about relevant changes and developments. All new employees must complete training courses on the topic of compliance. In particular, these cover aspects of preventing economic crime (especially combating money laundering and the financing of terrorism, international sanctions and embargoes as well as corruption and fraud prevention), market abuse and conflicts of interest as well as learning about appropriate measures and rules concerning internal reporting obligations. Employees operating in risk-sensitive areas receive additional regular targeted training that covers more in-depth knowledge. The frequency and target groups of advanced training is determined on the basis of compliance risks and incidents identified within RBI and any changes to regulatory requirements. The content of the training is structured into different modules and tailored to employees’ specific roles and responsibilities, compliance risk exposure and relevant regulatory requirements (e.g. customer relationship manager, areas of confidentiality). Updates to the training materials are triggered by new laws and regulations, products and customer groups, or when internal procedures change. The modules are offered as interactive training with testing components as well as classroom training courses to ensure the effectiveness of the training.
Process for monitoring | The policy is reviewed every second year with regard to regulatory changes and new business requirements.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | All RBI employees
Most senior level responsible | Head of Group Compliance
Reference to third party standards | -
Consideration of key stakeholders | The training concept is the result of the work and cooperation between RBI Group Compliance and relevant stakeholders in the subsidiary banks.
Availability to pot. stakeholders | See the chapter Policy frameworks as governance instruments

Group-wide and local compliance awareness initiatives to further improve the compliance culture and compliance awareness
complement the compliance training program. The most notable compliance awareness initiatives since 2021 include the
group-wide whistleblowing awareness campaign (Bring corporate misconduct to light) in 2021 and the compliance culture
awareness campaign (Make compliance culture happen) in 2024, with a focus on international sanctions compliance. In 2025,
RBI Group Compliance launched an awareness communication series as part of the go live of the new app –Compliance in your
Pocket. Since 2022, additional trainings and awareness activities concerning sanctions were launched to address the increased
level of sanctions risk.
G1-3: Prevention and detection of corruption and bribery
RBI’s Anti-Bribery and Corruption program is revised continuously and a condensed overview is available to all stakeholders on
RBI’s website. RBI’s main objective within this program is to prevent, detect and address allegations of corruption and bribery
via whistleblowing as outlined in the corresponding chapter.
RBI has developed several specific anti-bribery and corruption related actions, which are continuously reviewed, enhanced and
reimplemented within RBI’s organization. Those actions include, among others, internal investigations through audits of
business performed on a regular and an ad hoc basis, annual training and awareness campaigns, specified risk management
and internal controls.
RBI’s actions on anti-bribery and corruption are designed to raise awareness on ABC topics among its employees and other
staff members, to build trust among external stakeholders and to strengthen RBI’s overall resilience and thereby to directly
and pro-actively prevent and mitigate incidents in relation to bribery and corruption.
Internal investigations are performed by highly qualified and specialized compliance officers whenever suspicions of unlawful
or unethical behavior arise. Investigations through audits of business cover all banking products and banking services,
employees at all organizational levels and any business area and environment where RBI currently operates. If a suspicion of
bribery and corruption is validated, RBI follows a strict zero-tolerance policy and immediately implements risk-based actions.
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RBI’s value chains are covered end-to-end with no exceptions. Stakeholders are primarily employees and other staff members
of RBI.
RBI’s actions on anti-bribery and corruption are performed periodically during the business year or on an ad hoc basis.
Training and awareness: all RBI employees must undergo periodic anti-bribery and corruption training activities and programs
in order to establish and maintain a high level of awareness of bribery and corruption risks and to inform employees about
their role and responsibilities within the anti-bribery and corruption program. Training is provided via e-learning modules,
including tests, classroom training courses and additional awareness activities. The percentage of functions-at-risk covered by
the RBI ABC training program in 2025 is 95 per cent. All functions-at-risk (all tier management levels, members of the
administrative, management and supervisory bodies) receive specific anti-bribery and corruption training as part of the Fit/
Proper training program.
Training courses and awareness campaigns cover a variety of ABC-specific topics, including guidelines on how to identify and
prevent unlawful or unethical behavior and on obligations regarding reporting to the Compliance function. Training courses are
mandatory for all employees and must be completed on at least an annual basis. Risk management aims to identify, assess
and prioritize ABC-specific risks, while internal controls are executed to further prevent RBI’s organization in relation to
incidents of bribery and corruption.
Groups covered by anti-corruption trainings

in headcount | 2025 | 2024
Supervisory Board 1 | 133 | 63% | 128 | 58%
Management Board 1 (first tier of management) | 103 | 90% | 108 | 91%
B-1 (second tier of management) | 593 | 90% | 604 | 90%
B-2 (third tier of management) | 1,700 | 96% | 1,648 | 94%
Other managers | 2,039 | 98% | 1,829 | 83%
Other employees | 37,116 | 97% | 37,818 | 97%

1 In contrast to ESRS 2, these figures include not only the head office but the entire group.
Risk assessments: A holistic and periodic risk assessment of bribery and corruption risks for all relevant business lines and
processes is a key pillar of RBI's anti-bribery and corruption program. This is in line with the methodology and standards of RBI’s
Operational Risk Controlling Management Framework. The periodic risk assessment gives a comprehensive picture of those
parts of the business lines and processes that might be most vulnerable to corrupt practices and whether the controls that are
in place mitigate existing inherent risks. In addition, ad hoc risk analyses are carried out, particularly for new or modified
processes or products and after the occurrence of certain incidents.
Internal controls: All RBI units perform regular controls to prevent or mitigate bribery and corruption risks. Key control process
that may be executed by first line of defense functions (e.g. Human Resources, Procurement etc.) or second line of defense
functions (e.g. Compliance) include, among other things:
· Conflict of interest disclosure and assessment (mandatory reporting of gifts/invitations offered/received,
professional activities, close relationships, economic interests etc.)
· Expense reimbursement controls (e.g. invoices for entertainment are matched with related compliance disclosures)
· Know-your-customer checks (e.g. before onboarding, based on specific triggers)
· Know-your-employee checks (e.g. before onboarding, based on specific triggers)
· Know-your-business partner checks (e.g. before onboarding, based on specific triggers)
· Compliance check/mandatory involvement of Compliance with regard to making contributions to external parties
(e.g. compliance checks sponsorships, donations, membership fees exceeding defined thresholds or based on specific
triggers)
Cooperation and exchange: In line with RBI's corporate values, strong cooperation and ongoing exchanges between all RBI units
facilitate experience sharing, allowing RBI's anti-bribery and corruption program to be constantly improved and enhanced. Key
function holders (e.g. line managers, product-owners, etc.) and employees working in areas of confidentiality (e.g. Compliance,
etc.) are involved in functions most at risk.
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Management reporting: The local Compliance functions report directly to local management and periodically report on
incidents, gaps or general developments with regard to the anti-bribery and corruption program in their entity. Group
Compliance periodically reports to RBI’s Management Board and Supervisory Board.
Accountability and sanctions: In line with RBI's zero-tolerance policy for bribery and corruption, all employees and management
functions are held accountable for their actions or potential omissions that lead to in violations of RBI’s anti-bribery and
corruption program. In case of such events, internal sanctions and disciplinary measures – irrespective of any potential criminal
law sanctions or other legal consequences – are applied and enforced.
In 2025, 110 (2024: 99) reports were investigated in total via the whistleblower system in RBI. Investigations confirmed the
allegations in 37 (2024: 28) cases. Out of the 37 (2024: 28) reports, 12 (2024: 10) cases were related to harassment, discrimination
and retaliation, 12 cases (2024: 11) to other breaches of the Code of Conduct (internal misconduct), 1 (2024: 0) case to bribery
and corruption, 7 (2024: 1) cases to conflicts of interest, 3 (2024: 2) cases to fraud and theft, 2 (2024: 3) cases to suspicions of
money laundering and breaches of financial sanctions regimes, and 0 (2024: 1) cases to protection of personal data.
G1-4: Incidents of corruption or bribery
All suspicions of bribery or corruption are processed in accordance with RBI’s internal compliance investigation and reporting
mechanism. Adequate internal sanctions and disciplinary measures, i.e. dismissal of employees, were applied and enforced,
irrespective of criminal law sanctions and legal consequences.
All suspicions and confirmed incidents of bribery or corruption are documented in a market-standard case management
system and reviewed on a regular basis. ABC specific parameters, as outlined below, are not validated by an external validator.
Incidents of corruption or bribery

| 2025 | 2024
Number of convictions for violation of anti-corruption and anti-bribery laws | 0 | 0
Number of confirmed incidents of corruption or bribery | 4 | 0
Amount in € millions of fines for violation of anti-corruption and anti-bribery laws | 0.0 | 0.0

The four confirmed incidents of corruption and bribery in 2025 were qualified as passive bribery cases.
Anti-money laundering and countering the financing of terrorism

Policy | Anti-money laundering policy
General objective | Effectively combating money laundering/the financing of terrorism and managing related regulatory, reputational and other compliance risks. Mismanagement of anti money laundering and countering the financing of terrorism activities can lead to an increase in criminal activities, and weaken public safety and the economy. Conversely, effective management contributes to higher public safety, a strengthened economy and positively impacts business relationships. Combatting money laundering/ the financing of terrorism strengthens RBI’s reputation and contributes to RBI’s target of conducting business only with reputable customers involved in legitimate business activities and whose funds derived from legitimate sources.
Related IRO | Anti-money laundering and counter-terrorism financing
Key contents | Basis for identifying, evaluating and appropriately mitigating potential money laundering / terrorism financing risks. Establishes key requirements for KYC and transaction/customer monitoring procedures for relevant business areas and processes
Process for monitoring | The policy is monitored on an ongoing basis. Reviews and updates can take place throughout the year but are conducted at least annually. Given that combating money laundering is a constantly evolving process, RBI recognizes the importance of continuously evaluating, developing and adapting its anti-money laundering/countering the financing of terrorism policy Updates and reviews are i.a. made on the basis of legal/regulatory changes, external reviews as well as market developments and observations.
Scope / Exclusions | RBI
Value chain / Own operations | Own operations, downstream value chain
Affected stakeholders | All employees and management functions; existing/potential customers; relevant authorities
Most senior level responsible | Management Board
Reference to third party standards | The policy is in line with applicable legislation and considers international standards, such as the recommendations of the Financial Action Task Force (FATF).
Consideration of key stakeholders | Group Compliance
Availability to pot. stakeholders | See the chapter Policy frameworks as governance instruments. The policy is available to and addresses all employees and management functions in all countries and areas of responsibility and requires them to perform their duties in accordance with applicable laws, regulations as well as internal standards and procedures.

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Key actions taken as result of the anti-money laundering/countering the financing of terrorism policy include:
· Appointment of an anti-money laundering/countering the financing of terrorism officer who reports directly to
management bodies
· Risk identification and classification of customers and products as well as risk-based due diligence obligations
· Systematic, continuous due diligence obligations for customers (including identifying politically exposed persons and
beneficial owners), comprising enhanced due diligence for high-risk customers and management approval for
certain types of customers (e.g. customers associated with politically exposed persons or certain high-risk countries)
· Targeted and additional requirements for companies domiciled in offshore territories
· Customer data, transaction and account monitoring, including coherency screening
· Reporting of money laundering/terrorism financing suspicions to relevant authorities (e.g. an FIU)
· Reporting, exchanging information and cooperating with relevant authorities
· Systematic controls and evaluations through the internal control system as well as internal and external audits
· Periodic and target-audience-based training and awareness programs (classroom-based, e-learning, micro-
learnings, etc.)
· Proactive support of and contribution to further development of industry and legal standards through participation
in e.g. working groups and initiatives on a national, European and international level
These actions are continuously applied but may additionally be taken on an event-driven basis. The actions support RBI’s goal
of effectively combatting money laundering and the financing of terrorism, while ensuring full compliance with relevant
legislation and international standards.
Tax compliance
Tax Strategy
RBI’s tax strategy is shaped by statutory requirements, the Code of Conduct and internal policies. The fulfillment of applicable
tax obligations is a priority and RBI adheres to this principle across all jurisdictions and markets where it operates.
As a stock corporation based and managed in Austria, RBI AG is subject to unlimited tax liability in Austria for its global income.
Outside Austria, it is subject to unlimited tax liability through its subsidiaries and limited tax liability concerning its permanent
establishments and their generated income. Additionally, RBI AG has extensive tax obligations arising from its interactions with
customers and business partners.
Tax obligations inherently carry risks due to uncertainties in tax assessments, often stemming from the complexity of
economic matters and tax systems. To mitigate these risks, RBI AG has established internal processes and control systems.
Tax Concept
Aligned with the Code of Conduct, RBI rejects all forms of tax evasion and is committed to complying with laws and regulations
against tax evasion and financial crimes in all markets where it operates. These principles guide all business activities and
decisions.
When developing new products, RBI strives to ensure compliance with applicable tax provisions. RBI also adheres to tax
transparency regulations and initiatives, such as the Foreign Account Tax Compliance Act (FATCA), Common Reporting
Standard (CRS), US Qualified Intermediary Program (QI), Austrian Transfer Pricing Documentation Act (TPDA) and the Directive
on Administrative Cooperation - DAC 6 and Pillar 2.
RBI’s internal processes and controls are designed to support compliance with both internal and external regulations, thereby
identifying and prohibiting undesirable tax practices at an early stage. The primary goal is to meet tax obligations accurately
and promptly, thereby preventing compliance-related tax risks. The Code of Conduct as well as internal policies and processes
strive for a uniform understanding of this tax strategy across all RBI locations to ensure proper implementation. In 2025, RBI
maintained and if necessary enhanced its control mechanisms and governance system, especially its tax control system, to
prevent potential tax abuse and evasion. These principles are outlined in the Code of Conduct, which applies to the entire
Group and is regularly reviewed and expanded through various guidelines. The business model of RBI AG avoids any presence in
tax havens, with plans to terminate any outstanding activities in such locations.
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Tax governance, control, and risk management
The CEO holds ultimate responsibility for RBI AG’s tax obligations, delegating this to the CFO, who further delegates to the
Head of Group Tax Management. Local management assumes tax responsibility for foreign subsidiaries.
Tax risks are identified, managed and monitored through internal processes. Employee expertise on tax matters is maintained
via internal and external training, with some Group Tax Management employees subject to ongoing training obligations due to
their qualifications as tax advisors. Regular training sessions for internal departments by Group Tax Management and external
consultants form part of RBI’s internal tax compliance program. Measures are derived from an annual analysis of group-wide
tax compliance risks, supplemented by audits from external consultants.
Compliance with tax provisions and the control framework is monitored at multiple levels and reinforced by internal controls
and external audits. External expert opinions are sought for clarification on certain complex issues. Incidents or suspicions of
tax misconduct can be reported internally or by third parties through established compliance communication channels,
including the whistleblowing pla tform (for details see chapter Whistleblowing). Tax reporting in the Annual Report undergoes
external audits as part of the annual financial statement review.
Stakeholder engagement and management of tax concerns
Important tax topics, tax audits and projects are presented to the CEO or the full Management Board of RBI AG for
acknowledgment or approval. External opinions are sought to ensure that stakeholder perspectives are considered in decision-
making and that tax risks are identified and documented. Group Tax Management engages in intensive dialog with tax
authorities to foster partnership-based cooperation and regularly consults with finance ministries. Active participation in tax
committees of various institutions, such as the Austrian Economic Chambers and the Federation of Austrian Industries, allows
RBI to anticipate and respond to trends in tax law promptly. Detailed figures per country related to taxation can be found in
note (49) Key figures pursuant to § 64 (1) 18 of the Austrian Banking Act (BWG) in the consolidated financial statements.
G1-5: Political influence and lobbying activities

Policy | Political influence and lobbying activities
General objective | Lobbying is subject to high standards of transparency, both for specialized lobbying companies and their own employees – known as corporate lobbyists – as well as for RBI and its relevant employees. RBI is required to register lobbyists who act on its behalf in the national lobbying register. RBI’s lobbying work is carried out by its qualified employees and the Association of Raiffeisen Banks (Fachverband der Raiffeisenbanken), which forms part of the Austrian Economic Chambers. Accordingly, RBI is registered in the Austrian Lobbying Register. Corporate lobbyists of RBI are obliged to observe the following points in their contact with office holders: they are committed to the truth and any information that they provide must be – to the best of their knowledge – undistorted, complete, up to date and not misleading. The officials must know who they are, that they work for RBI and declare that they are registered in the Lobbying Register.
Related IRO | Enabling informed policy decisions & industry insights;
Key contents | The Management Board of RBI is solely authorized to approve contributions to political parties, election committees, party- affiliated organizations and political figures (politicians, candidates) and such contributions are permitted only if the following conditions are fulfilled: · The contribution does not violate any statutory regulations. · The contribution is in line with the customary extent of the respective country. · The contribution is not apt to have any improper impact. If such contributions are granted, they must be handled transparently and with the involvement of RBI Group Compliance. The transparency provisions regarding party financing and lobbying, which have been in place in their latest version since 1 January 2013, must be complied with and are implemented in the Group Executive Office of RBI. The legally responsible person is the CEO of RBI, Johann Strobl. The person in charge of EU relations is Paul Pasquali, Executive Director Group Government & Stakeholder Affairs. He is also the senior executive responsible for the political engagement process. This process is monitored on a regular basis. Lobbying is essential in parliamentary democracies, allowing stakeholders, including banks, to inform decision-makers and shape policies that affect their industry. While political engagement can provide valuable insights and enhance a bank’s reputation, it also carries risks such as public backlash, regulatory scrutiny and the need for strict compliance with campaign finance laws.
Process for monitoring | Regular review of the process
Scope / Exclusions | RBI
Value chain / Own operations | Own operations
Affected stakeholders | Employees
Most senior level responsible | Head of Group Government & Stakeholder Affairs
Reference to third party standards | Lobbying Act (Lobbying-Gesetz, LobbyG)
Consideration of key stakeholders | Group Compliance
Availability to pot. stakeholders | See the chapter Policy frameworks as governance instruments

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 341
All lobbyists who work for RBI obtain information and make decisions exclusively by fair means. They inform themselves about
the restrictions on activities and rules on incompatibility that apply to office holders and comply with these restrictions and
rules. Office holders must not be induced to infringe applicable rules and standards of behavior and unfair or inappropriate
pressure must never be exerted on office holders. The Compliance Policies rules as well as the Code of Conduct according to
Article 7 of the Lobbying Act are to be observed.
RBI intends to make a positive impact on enabling informed policy decisions and industry insights. By engaging politically, RBI
intends to provide well-prepared information and arguments, thereby helping legislators to understand complex issues and
make decisions in society’s best interest.
The main current topics of lobbying activities are current legislative projects and initiatives in the areas of financial services,
European law, corporate law and taxes, investments, industry and competition, among others. Current concerns are also
focused, in particular, on the Capital Markets Union (CMU), the Single Resolution Mechanism (SRM), the Financial Transaction
Tax (FTT), the Single Supervisory Mechanism (SSM), the European Fund for Strategic Investments (EFSI), the Deposit Guarantee
Scheme (DGS), the European Deposit Insurance Scheme (EDIS), Total Loss Absorbing Capacity/ Minimum Own Funds and Eligible
Liabilities (TLAC/MREL), the Markets in Financial Instruments Directive (MiFID), Undertakings for Collective Investment in
Transferable Securities, the Capital Requirements Directive/Capital Requirements Regulation (CRD/CRR) and intra-EU
investment protection.
In 2025, RBI’s lobbying activities did not concern any topics that interact with RBI’s material impacts, risks and opportunities. In
2025 and in the previous year, RBI did not make any financial or in-kind contributions to any politicians or parties.
RBI is registered in the following lobbying and transparency registers:
· Austrian Transparency Register (identification number in the register: LIVR-00104)
· German Lobbying Register (identification number in the register: R005510)
· EU Transparency Register (identification number in the register: 33858106461-10)
Regarding the appointment of members to management and supervisory bodies of RBI who have held comparable positions in
public administrations within the two years preceding the appointment, we confirm that no such instances exist. None of the
recently appointed members of RBI committees have held comparable roles in public administration during the specified
timeframe.
RBI AG is a member of the Austrian Federal Economic Chamber (Wirtschaftskammer Österreich/WKO). Furthermore, an
affiliation exists to the Federation of Austrian Industries (Industriellenvereinigung IV).
G1-2: Management of relationships with suppliers
RBI is conscious of its position in the finance industry in Austria and CEE. RBI has approximately 12,500 suppliers, mainly in IT,
facility management, consulting services and marketing. RBI thereby plays a significant role as a customer for businesses in
these sectors in RBI’s domestic markets. RBI has set itself the goal of exploiting the potential of its role as a customer by
setting high environmental and social principles for contractual relationships and by incorporating sustainability criteria when
selecting suppliers. RBI head office is responsible for the management of suppliers of RBI AG and its subsidiary banks in Central
and Eastern Europe as well as certain Austrian subsidiaries, thereby covering the vast majority of RBI’s suppliers and
purchasing volume.
Being a fair partner to RBI’s suppliers and demanding fairness towards its employees and suppliers as well as sustainable
behavior not only safeguards RBI’s operational banking activities. RBI also sees it as an opportunity to make a positive
contribution to society and the environment.
All RBI suppliers must comply with the supplier code of conduct and its principles, which, among other considerations, include
compliance with the law, the prohibition of corruption and bribery, respect for the fundamental rights of employees, all key
aspects of human rights and environmental regulations. The Supplier Code of Conduct is included in contracts agreed with
suppliers. In exceptional cases, a supplier’s code of conduct with comparable content is accepted as part of the contract. The
principles defined in the Supplier Code of Conduct are to be regarded as a minimum level for environmental and social criteria,
based on the various regulations and directives with which RBI has undertaken to comply. This approach highlights compliance
with selected social and environmental standards as a fundamental requirement for working with RBI. If RBI identifies a
material breach of the regulations by a supplier, it assesses the impact and defines rectification measures. If a supplier were to
fail to meet its obligations, RBI would terminate the contractual relationship. As part of the supplier management process, RBI’s
top suppliers are assessed in relation to their ESG fulfillment.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
342 Group management report
G1-6: Payment practices
RBI is a fair partner for its customers suppliers. This includes providing fair payment terms and the complying with
contractually agreed payment terms. The table below shows the payment terms for suppliers of RBI AG and selected
subsidiary banks in Central and Eastern Europe, based on a representative sampling.
Payment practices

2025 | Head office | RBCZ | RBHU | RBHR | RBRO | TBSK
Average time the entity takes to pay the invoice (in days) | 4 | 16 | 25 | 25 | 27 | 11
Payments aligned with the standard payment terms (in %) | 93 | 92 | 88 | 95 | 69 | 96
Standard payment terms | 30 days net | 30 days net | 30 days net | 25 days net | 23 days net | 30 days net

2024 | Head office | RBCZ | RBHU | RBHR | RBRO | TBSK
Average time the entity takes to pay the invoice (in days) | 10 | 14 | 15 2 | 25 1 | 24 1 | 18
Payments aligned with the standard payment terms (in %) | 78 | 94 | 93 | 95 | 70 1 | 94
Standard payment terms | 30 days net | 30 days net | 30 days net | 25 days net | 22 1 days net | 30 days net
RBCZ: Raiffeisenbank a.s., Prague (CZ) |  |  |  |  |  |
RBHU: Raiffeisen Bank Zrt., Budapest (HU) |  |  |  |  |  |
RBHR: Raiffeisenbank Austria d.d., Zagreb (HR) |  |  |  |  |  |
RBRO: Raiffeisen Bank S.A., Bucharest (RO) |  |  |  |  |  |
TBSK: Tatra banka, a.s., Bratislava (SK) |  |  |  |  |  |
1 Previous-year figures adapted (reported in 2024 for: average time the entity takes to pay the invoice in days RBHR: 0, mistake; RBRO: 22; payments aligned with standard payment terms RBRO: 85 per cent; standard payment terms RBRO: 15. For RBRO the 2024 value now reflects data from the Romanian bank only.) 2 Variance to 2025 due to expanded, full-scope supplier database

The above figures are based on invoices due between January and September 2025. The fourth quarter figures were estimated
based on the trends observed in the first three quarters to provide a comprehensive view of the financial year. Intra-group
invoices/payments were not taken into account. The data shown includes external suppliers. No differentiation is applied in
terms of size of company.
RBI works consistently on optimizing its payment processes including communication with employees but also with vendors.
This already lead to a reduction of time to payment in 2025 in head office and Tatra banka a.s., Bratislava.
No significant differences were present in payment terms or practices depending on the country, type and size of supplier or
purchasing category.
Although the specific information about whether a supplier is a small- or medium-sized enterprise (SME) may not be readily
available during the payment process, it is crucial for invoice requesters and approvers to consider the size and financial
situation of the supplier. Employees of RBI are advised to expedite the processing of invoices from suppliers that are or could
be SMEs. This proactive approach ensures that smaller suppliers, which may have tighter cash flow constraints, receive timely
payments, thereby fostering positive business relationships and supporting the financial health of these enterprises. For any
potential delays, specific RBI contacts are available.

| 2025 | 2024
Legal proceedings currently outstanding for late payments | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 343
Responsible banking progress statement for PRB signatories
The following section contains all relevant information regarding the reporting and self-assessment obligations of RBI as a
signatory to the UNEP FI Principles for Responsible Banking (PRBs) The presentation is based on the reporting template revised
by UNEP FI in 2025.
Principle 1: Alignment
Brief description of RBI’s sustainability strategy
RBI’s group-wide sustainability strategy focuses on creating sustainable value through three core areas: being a responsible
banker, a fair partner and an engaged citizen. This overall sustainability strategy is complemented by RBI’s climate and
environmental business strategy, which specifically revolves around supporting customers in their climate and ecological
transitions and defines RBI´s transition plan.
Alignment with frameworks and goals
RBI’s sustainability efforts align with several international frameworks, notably the UNEP FI PRB, the UNGC Principles and the
European Union’s ESG regulation and supervisory expectations. RBI focuses on managing ESG impacts, risks and opportunities
across four key areas: climate, nature, human rights and inclusive economies, while redirecting capital towards sustainable
activities.
Links and references: UN Environment Programme Finance Initiative: Principles for Responsible Banking; RBI’s sustainability
strategy ; RBI’s climate and environmental business strategy.
Principle 2: Impact and target setting
Significant impact areas and steps taken to identify and measure impacts
RBI has used the double materiality analysis (DMA) in accordance with the CSRD and ESRS standards to assess which
environmental, social, and governance topics have financial and/or impact materiality. The DMA distinguishes between
impacts, risks and opportunities arising directly from RBI’s own operations and those connected to its value chain. Stakeholder
perspectives were integrated through multiple channels as described in SBM-2: Interests and views of stakeholders. The
material topics and resulting impacts, risks and opportunities are presented in SBM-3: Material impacts, risks and opportunities
and their interaction with the strategy and business model. For the impact materiality assessment, RBI was guided by the UNEP
FI methodology and UNEP FI Impact Tool.
Main progress indicators:
· Corporate loans: Reduction of GHG emissions by 27% compared to 2023;
· Investment funds: Reduction of financed emissions by 50% compared to 2020;
· Own operations: Reduction of GHG emissions by 42% compared to 2024.
· Target 2026: up to 22 % of corporate loans are ESG-compliant and € 1,070 million of new business volume in the
retail segment are green and social loans
· Circularity Target: For the packaging industry portfolio’s relevant customers, all post-consumer packaging waste
must be recycled according to the EU Packaging Waste Directive by 2030. At least 90 per cent of customer
engagement in the packaging industry is to include circularity topics by 2028.
· Further and continuous improvements and development of human rights due diligence processes within RBI.
Links and references: SBM-2: Interests and views of stakeholders; SBM-3: Material impacts, risks and opportunities and their
interaction with the strategy and business model, IRO-1: Process to identify and assess material impacts, risks and
opportunities; E1-1: Transition plan for climate change mitigation; E1-4: Targets related to climate change mitigation and
adaptation; Financed emissions by PCAF asset classes; E5-3: Targets related to resource use and circular economy; Workers in
the value chain ESG-related Board objectives for the financial year 2026; Workers in the value chain; Greenhouse gas emissions
from own operations; Consolidated non-financial statement; Assurance report on the consolidated non-financial statement.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
344 Group management report
Principle 3: Clients and customers
RBI’s client engagement
RBI operates responsibly with its customers under its group-wide sustainability strategy as well as its climate and
environmental business strategy. RBI offers a variety of sustainable products, including green loans and sustainability-linked
financing, in order to support customers in their transition to sustainable practices. RBI’s Code of Conduct and sectoral
business policies ensure that all financing activities meet the bank’s ethical and environmental standards.
Robust risk, compliance and business processes are implemented to support sustainable initiatives targeting both climate and
circularity as well as human rights. This includes thorough assessments of client operations to prevent greenwashing and
ensure compliance. Engagement with customers focuses on developing action and transition plans that encourage sustainable
practices, particularly in high-impact sectors.
Main progress indicators:
· ESG Customer Score: Evaluating ESG performance of customers, identifying risks, and informing underwriting
decisions. This score incorporates both quantitative measures (e.g. CO 2 emissions, energy consumption) and
qualitative factors (e.g. company sustainability practices).
· Advisory: RBI provides in-depth advisory services on net-zero strategies and circularity topics.
Links and references: SBM-1: Strategy, business model and value chain; SBM-2: Interests and views of stakeholders; RBI Code of
Conduct; ESG customer score; Customer data collection ; Corporate and Investment Banking (CIB) Products & Solutions; ESG-
related Board objectives for the financial year 2026; E5-2: Actions and resources related to resource use and circular economy
Consolidated non-financial statement.
Principle 4: Stakeholders
RBI’s stakeholder engagement
RBI actively consults, engages and collaborates with stakeholders to implement the Principles for Responsible Banking. Key
stakeholders include shareholders, customers, employees, regulatory authorities, business partners, NGOs, employee
representatives and external ESG expert groups. Engaging these groups allows RBI to gather insights and address material
issues related to climate stability, biodiversity and circularity as well as on Financial Inclusion & Health and Human Rights.
RBI conducts stakeholder engagement through various methods, including meetings, workshops, advisory sessions, and
customer feedback mechanisms. This structured engagement ensures that stakeholders’ interests and views are taken into
adequate consideration. Against this background, the second Biodiversity Day at Raiffeisen Bank International, held in Vienna in
early November 2025, brought together around 120 experts from business, science, politics and international institutions to
discuss biodiversity as both a key topic on the sustainability agenda and as a business opportunity for both banks and
industry. The event highlighted how biodiversity loss creates real financial risks for companies and banks, while also opening
new business cases, such as Financial Health & Inclusion Summit together with the UNICO banking, nature-positive projects,
carbon and nature credit markets as well as innovations that support food security. These topics were further discussed in
industry-specific, deep-dive sessions for the agriculture, real estate and energy sectors. In addition, RBI hosted a Financial
Health & Inclusion Summit in collaboration with the UNICO Banking Group, bringing together experts and representatives from
Europe to discuss strategies to promote financial health and inclusion. To build on these discussions, particularly in the CESEE
region, and to promote knowledge exchange, the UNEP FI CESEE Community of Practice Roundtable was held at RBI’s head
office in Vienna.The insights gathered from stakeholders are used to refine RBI’s strategy and inform materiality assessments
in accordance with the Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards. This
feedback enables the identification and prioritization of sustainability goals, contributing to the development of clear action
and transition plans that align with the bank’s commitment to climate stability and circularity as well as social topics.
Links and references: SBM-2: Interests and views of stakeholders
Principle 5: Governance and culture
Key governance structures and accountability mechanisms
RBI follows Austria’s legally mandated dualistic board system, with a Management Board responsible for operations and a
Supervisory Board overseeing management. The Management Board and the Supervisory Board share responsibility for
addressing the most significant impacts, risks and opportunities related to RBI’s business activities and its value chain. The
Management Board is responsible for monitoring and managing these impacts, risks and opportunities, while the Supervisory
Board ensures their appropriate oversight. Supporting the boards are the Sustainability Council, composed of internal and
external experts advising on sustainability agendas, and the cross-functional internal Sustainability Committee, which assists
the Management Board in ESG decision-making and monitors progress against sustainability targets. A robust framework of
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Group management report 345
policies and compliance structures ensures adherence to regulatory requirements and guides sustainability practices across
the organization, including due diligence processes to identify and mitigate potential negative impacts associated with
business activities as well as internal controls and risk management systems that uphold the accuracy of sustainability
processes and related reporting.
Culture of responsible banking
RBI fosters a culture of responsible banking through structured training and continuous learning on sustainability and ESG
topics. Employees participate in ESG-focused workshops, expert-led seminars and digital learning programs, supported by
dedicated sustainability resources on the intranet. ESG principles are also integrated into leadership development, risk
management and compliance training, ensuring responsible decision-making is embedded across daily operations and long-
term strategy throughout the Group.
Progress indicators – remuneration practices and board KPIs
· The Management Board, the Supervisory Board and their committees receive regular updates from senior
management on key sustainability topics and integrate related impacts, risks and opportunities into strategic
oversight, decision-making and risk management, aligning short- and long-term objectives with RBI’s long-term
goals.
· Management Board performance targets for 2026 combine financial criteria (at least 40%) and non-financial criteria
(up to 60%), reflecting RBI’s strategy and ESG commitments. Non-financial targets cover strategic projects,
efficiency, innovation, customer satisfaction, governance and risk compliance, employee engagement, leadership
and social and environmental responsibility, with the Personnel Committee setting, reviewing and approving targets
and bonus allocation.
Links and references: GOV-1: The role of the administrative, management and supervisory bodies; GOV-2: Information provided
to and sustainability matters addressed by administrative, management and supervisory bodies; GOV-3: Integration of
sustainability-related performance in incentive schemes; GOV-4: Statement on due diligence; GOV-5: Risk management and
internal controls over sustainability reporting; RBI Group total rewards management policy; RBI’s strategy.
Principle 6: Transparency and accountability
Reporting on sustainability practices
RBI publishes its consolidated non-financial statement, aligned with the Corporate Sustainability Reporting Directive and the
European Sustainability Reporting Standards. This report is essential for fulfilling legal requirements and enhancing
transparency in sustainability practices. It details RBI’s non-financial agendas and activities, including the economic,
environmental and social impacts of its business based on a double materiality assessment. Additionally, the reporting includes
regulatory disclosures regarding environmental, social and governance (ESG) risks, as mandated by EBA standards.
Assurance of sustainability information
To ensure reliability, the contents of the consolidated non-financial statement have been independently limited assured by
Deloitte Audit Wirtschaftsprüfungs GmbH, Vienna, thereby confirming adherence to established regulatory standards and the
accuracy of the reported sustainability data.
Links and references: BP-1: General basis for preparation of the consolidated non-financial statement; Disclosures stemming
from other legislation or generally accepted sustainability reporting pronouncements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
346
Segment and country
analysis
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
347

Central Europe | 348
Southeastern Europe | 350
Eastern Europe | 352
Ukraine | 353
Group Corporates & Markets | 354
Corporate Center | 355

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
348 Segment and country analysis
Segment reporting at RBI is based on the current organizational structure pursuant to IFRS 8. A cash generating unit within the
Group is a country. For further information on the segmentation, please refer to the chapter segment reporting in the
consolidated financial statements as well as the RBI website (www.rbinternational.com → Investors → Results & Reports).
The figures for the first and third quarters of 2025 were neither audited nor reviewed by an auditor; the interim financial
statements for the first half of 2025 were reviewed by an auditor.
Central Europe

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2025 | Change
Net interest income | 1,650 | 1,606 | 2.8% | 420 | 419 | 0.1%
Dividend income | 4 | 11 | (62.7)% | 0 | 0 | (59.6)%
Current income from investments in associates | 0 | 5 | – | 0 | 0 | –
Net fee and commission income | 703 | 622 | 12.9% | 191 | 177 | 8.0%
Net trading income and fair value result | 3 | 6 | (50.8)% | (13) | 3 | –
Net gains/losses from hedge accounting | (1) | 7 | – | 4 | 1 | 272.7%
Other net operating income | 55 | 35 | 53.8% | 8 | 24 | (64.5)%
Operating income | 2,414 | 2,293 | 5.3% | 610 | 624 | (2.3)%
General administrative expenses | (1,201) | (1,099) | 9.3% | (328) | (294) | 11.6%
Operating result | 1,214 | 1,195 | 1.6% | 282 | 330 | (14.6)%
Other result | (313) | (656) | (52.4)% | (18) | (67) | (73.2)%
Governmental measures and compulsory contributions | (74) | (86) | (13.2)% | (2) | (2) | (4.0)%
Impairment losses on financial assets | (7) | 8 | – | (35) | (11) | 224.0%
Profit/loss before tax | 820 | 461 | 77.9% | 226 | 250 | (9.3)%
Income taxes | (247) | (245) | 0.9% | (56) | (64) | (11.8)%
Profit/loss after tax | 572 | 216 | 165.3% | 170 | 186 | (8.5)%
Return on equity before tax | 17.8% | 10.3% | 7.5 PP | 19.7% | 21.7% | (2.0) PP
Return on equity after tax | 12.4% | 4.8% | 7.6 PP | 14.8% | 16.2% | (1.4) PP
Net interest margin (average interest-bearing assets) | 2.40% | 2.52% | (0.12) PP | 2.33% | 2.39% | (0.07) PP
Cost/income ratio | 47.6% | 47.9% | (0.3) PP | 51.7% | 44.9% | 6.7 PP

The year-on-year increase in profit after tax was due, above all, to lower expenses for credit-linked, portfolio-based litigation
and annulments of loan agreements in Poland. These expenses of € 296 million (previous year’s period: € 649 million) contained
in other results mainly related to mortgage loans. Operating income was up € 121 million, as a result of the € 80 million increase
in net fee and commission income, especially in Hungary due to higher income from clearing, settlement and payment services
and in the Czech Republic (volume-driven rise in net income from custody and fiduciary business).
Net interest income rose € 44 million, primarily in Slovakia (higher income from mortgage loans following repricing measures
and from bonds) and in the Czech Republic (higher loan volumes to households and lower interest expenses due to the lower
interest rates). In contrast, net interest income was down € 52 million in Hungary. The principal causes for this were lower
market interest rates and a negative effect of € 44 million related to foreign exchange swaps. The € 19 million improvement in
other net operating income was largely attributable to Slovakia (release of other provisions in connection with litigation).
General administrative expenses rose € 102 million, mainly because of higher staff expenses in Hungary (up € 22 million)
following the consolidation of a service company, Slovakia (up € 19 million) and the Czech Republic (up € 14 million) as well as
the € 35 million increase in other administrative expenses. This was mainly driven by the higher transaction tax in Hungary (up
€ 29 million) following the increase in the tax rate. Expenses for governmental measures and compulsory contributions fell € 11
million, mainly in Hungary (lower tax rate for bank levies) and the Czech Republic (lower contributions to the bank resolution
fund). Net allocations to loan loss provisions amounted to € 7 million (previous year’s period: net releases of € 8 million),
primarily as a result of lower releases in Hungary (down € 12 million) in Stage 2 for households.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Segment and country analysis 349

| Poland | Slovakia
in € million | 2025 | 2024 | 2025 | 2024
Net interest income | 19 | 33 | 539 | 480
Dividend income | 0 | 0 | 0 | 0
Current income from investments in associates | 0 | 0 | 0 | 5
Net fee and commission income | 0 | 1 | 206 | 210
Net trading income and fair value result | 0 | 1 | 13 | 13
Net gains/losses from hedge accounting | 0 | 0 | 0 | 0
Other net operating income | 22 | 20 | 17 | 3
Operating income | 42 | 55 | 775 | 711
General administrative expenses | (92) | (97) | (335) | (302)
Operating result | (50) | (42) | 440 | 409
Other result | (296) | (649) | (14) | (3)
Governmental measures and compulsory contributions | (3) | (2) | (1) | (1)
Impairment losses on financial assets | 24 | 16 | (34) | (26)
Profit/loss before tax | (325) | (677) | 391 | 379
Income taxes | 0 | 0 | (128) | (135)
Profit/loss after tax | (325) | (677) | 263 | 244

| Czech Republic | Hungary
in € million | 2025 | 2024 | 2025 | 2024
Net interest income | 671 | 622 | 420 | 472
Dividend income | 4 | 2 | 0 | 9
Net fee and commission income | 219 | 179 | 278 | 232
Net trading income and fair value result | 20 | 16 | (30) | (24)
Net gains/losses from hedge accounting | (2) | (2) | 1 | 8
Other net operating income | 16 | 13 | 0 | (1)
Operating income | 929 | 831 | 670 | 697
General administrative expenses | (416) | (387) | (358) | (313)
Operating result | 512 | 444 | 311 | 384
Other result | 1 | 0 | (4) | (5)
Governmental measures and compulsory contributions | (9) | (14) | (61) | (68)
Impairment losses on financial assets | (19) | (16) | 21 | 34
Profit/loss before tax | 486 | 415 | 268 | 344
Income taxes | (77) | (62) | (42) | (47)
Profit/loss after tax | 409 | 353 | 226 | 297

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
350 Segment and country analysis
Southeastern Europe

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2025 | Change
Net interest income | 1,399 | 1,392 | 0.5% | 354 | 354 | 0.2%
Dividend income | 5 | 4 | 19.9% | 0 | 0 | 166.6%
Net fee and commission income | 574 | 506 | 13.3% | 153 | 150 | 2.3%
Net trading income and fair value result | 31 | 22 | 38.3% | 9 | 6 | 54.9%
Net gains/losses from hedge accounting | 0 | 0 | – | 0 | (2) | –
Other net operating income | 17 | 15 | 15.4% | 1 | 10 | (86.0)%
Operating income | 2,026 | 1,939 | 4.5% | 519 | 518 | 0.2%
General administrative expenses | (852) | (807) | 5.5% | (238) | (205) | 15.9%
Operating result | 1,174 | 1,132 | 3.7% | 281 | 312 | (10.1)%
Other result | (6) | (14) | (59.5)% | 2 | (2) | –
Governmental measures and compulsory contributions | (85) | (61) | 38.5% | (24) | (21) | 14.0%
Impairment losses on financial assets | (51) | (19) | 163.0% | (24) | (5) | 407.9%
Profit/loss before tax | 1,032 | 1,037 | (0.5)% | 234 | 285 | (17.7)%
Income taxes | (167) | (162) | 2.9% | (38) | (46) | (16.2)%
Profit/loss after tax | 865 | 875 | (1.1)% | 196 | 239 | (17.9)%
Return on equity before tax | 26.6% | 29.1% | (2.5) PP | 24.1% | 28.9% | (4.8) PP
Return on equity after tax | 22.3% | 24.5% | (2.3) PP | 20.2% | 24.2% | (4.1) PP
Net interest margin (average interest-bearing assets) | 3.79% | 4.17% | (0.38) PP | 3.76% | 3.86% | (0.10) PP
Cost/income ratio | 42.0% | 41.6% | 0.4 PP | 45.9% | 39.7% | 6.2 PP

The € 87 million increase in operating income was mainly due to significantly higher net fee and commission income, which
rose € 67 million. Of this, € 48 million was attributable to Romania, due to higher transaction numbers and volumes as well as
the performance bonus from a credit card provider. Serbia reported an increase of € 15 million, due to higher transaction
volumes in clearing, settlement and payment services and in the foreign exchange business. Net interest income rose € 7
million to € 1,399 million. A € 25 million increase in net interest income was reported in Romania, driven by investments in
higher-yielding bonds and an increase in average loan volume. There was also an increase of € 7 million in Croatia, as higher
loan volume and positive effects from bond purchases and hedging transactions offset the burden from interest rate cuts. In
contrast, Serbia posted a € 23 million decline due to falling market interest rates as well as the legal cap on interest rates in
the retail sector. Romania posted an € 8 million increase in net trading income, which was attributable to the positive results
from the valuation of financial instruments.
The € 9 million decline in profit after tax was for the most part due to the rise in general administrative expenses, the risk costs
as well as the governmental measures and compulsory contributions. General administrative expenses rose € 45 million, with
staff expenses increasing € 27 million in Romania (up € 12 million), in Serbia (up € 6 million), in Croatia (up € 5 million) and in
Albania (up € 4 million). Other administrative expenses increased € 17 million, especially due to higher communication,
consulting and advertising expenses in Romania as well as higher IT expenses in Serbia, Croatia and Albania. The governmental
measures and compulsory contributions were up € 24 million due to the higher tax rate for banks that applies in Romania since
July. Net allocations for risk costs amounted to € 51 million (previous year’s period: € 19 million). Of this amount, € 33 million was
attributable to Romania, mainly in Stage 2 from allocations for non-financial corporations, items off the statement of financial
position and households as well as in Stage 3 from allocations for non-financial corporations and households. Allocations of
€ 10 million were created in Croatia, which were largely accounted for by households in Stage 2 and Stage 3. Reversals in Stage
1 were largely for households.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Segment and country analysis 351

| Albania | Bosnia and Herzegovina | Kosovo
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Net interest income | 132 | 131 | 87 | 88 | 71 | 71
Dividend income | 1 | 1 | 2 | 2 | 1 | 0
Net fee and commission income | 28 | 27 | 63 | 60 | 19 | 17
Net trading income and fair value result | 6 | 4 | 0 | 0 | 0 | 1
Other net operating income | 0 | 0 | 4 | 2 | 3 | 6
Operating income | 167 | 163 | 155 | 152 | 94 | 96
General administrative expenses | (72) | (64) | (73) | (71) | (47) | (47)
Operating result | 96 | 99 | 82 | 82 | 47 | 49
Other result | (1) | (1) | 4 | 0 | 0 | 0
Governmental measures and compulsory contributions | (9) | (8) | (6) | (6) | (3) | (2)
Impairment losses on financial assets | 5 | (1) | (6) | 5 | (9) | (2)
Profit/loss before tax | 91 | 90 | 74 | 81 | 35 | 45
Income taxes | (14) | (13) | (6) | (7) | (3) | (5)
Profit/loss after tax | 77 | 76 | 68 | 74 | 31 | 40

| Croatia | Romania | Serbia
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Net interest income | 193 | 186 | 644 | 619 | 272 | 295
Dividend income | 0 | 0 | 1 | 1 | 0 | 0
Net fee and commission income | 78 | 79 | 248 | 200 | 138 | 123
Net trading income and fair value result | 0 | 3 | 9 | 1 | 16 | 13
Other net operating income | 0 | 3 | 3 | (1) | 7 | 5
Operating income | 272 | 271 | 905 | 820 | 434 | 436
General administrative expenses | (141) | (133) | (387) | (370) | (131) | (123)
Operating result | 131 | 139 | 517 | 450 | 302 | 313
Other result | (8) | (11) | (2) | (1) | 1 | (2)
Governmental measures and compulsory contributions | (2) | 0 | (50) | (32) | (14) | (13)
Impairment losses on financial assets | (10) | (12) | (33) | (5) | 2 | (5)
Profit/loss before tax | 110 | 117 | 431 | 412 | 291 | 293
Income taxes | (22) | (21) | (82) | (75) | (39) | (41)
Profit/loss after tax | 88 | 95 | 349 | 337 | 252 | 252

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
352 Segment and country analysis
Eastern Europe

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2024 | Change
Net interest income | 1,690 | 1,623 | 4.1% | 389 | 402 | (3.2) %
Dividend income | 0 | 0 | – | 0 | 0 | (99.2) %
Current income from investments in associates | 0 | 1 | – | 0 | 0 | –
Net fee and commission income | 729 | 793 | (8.0)% | 170 | 174 | (2.2) %
Net trading income and fair value result | 238 | 59 | 301.8% | 57 | 57 | (0.1) %
Net gains/losses from hedge accounting | 0 | 0 | 100.6% | 0 | 0 | (43.0) %
Other net operating income | 16 | (6) | – | 15 | 0 | >500.0%
Operating income | 2,674 | 2,471 | 8.2% | 632 | 635 | (0.4) %
General administrative expenses | (688) | (488) | 40.9% | (204) | (171) | 19.5 %
Operating result | 1,986 | 1,982 | 0.2% | 428 | 464 | (7.7) %
Other result | (1,609) | (843) | 90.9% | (344) | 4 | –
Governmental measures and compulsory contributions | (22) | (30) | (28.3)% | (5) | (5) | (0.5) %
Impairment losses on financial assets | 51 | 162 | (68.5)% | 84 | (32) | –
Profit/loss before tax | 406 | 1,272 | (68.0)% | 163 | 431 | (62.2)%
Income taxes | (492) | (399) | 23.5% | (131) | (112) | 17.0%
Profit/loss after tax from continuing operations | (86) | 873 | – | 32 | 319 | (90.0)%
Gains/losses from discontinued operations | 0 | 151 | – | 0 | 0 | –
Profit/loss after tax | (86) | 1,024 | – | 32 | 319 | (90.0)%
Return on equity before tax | 6.5% | 29.6% | (23.1) PP | 9.5% | 24.9% | (15.5) PP
Return on equity after tax | – | 20.3% | - | 1.9% | 18.5% | (16.6) PP
Net interest margin (average interest-bearing assets) | 9.74% | 8.87% | 0.87 PP | 8.93% | 9.48% | (0.55) PP
Cost/income ratio | 25.7% | 19.8% | 6.0 PP | 32.2% | 26.9% | 5.4 PP

Despite a further reduction in business activity in Russia, the operating result rose € 4 million due to increases in net interest
income and net trading income and fair value result. The appreciation of the Russian ruble as well as higher interest income
from short-term deposits with the central bank led to a € 67 million increase in net interest income to € 1,690 million. Net fee
and commission income fell € 64 million, primarily due to the € 75 million decline in clearing, settlement and payment services.
This development was reinforced by a € 40 million decline in other net fee and commission income due to lower income related
to currency control activities and from a € 33 million drop in the securities business. It was partly offset by a € 95 million
improved result in foreign exchange business due to higher volumes and margins. Net trading income and fair value result rose
€ 179 million, mainly attributable to higher transaction volumes as well as significantly increased foreign exchange trading
margins as a result of the high volatility on the Russian currency markets brought about by the geopolitical conditions. Other
net operating income improved € 22 million due to releases of other provisions.
General administrative expenses increased € 200 million to € 688 million. This was due to a € 175 million increase in staff
expenses to € 522 million, mainly because of salary adjustments, and to expenses for one-off payments as well as currency
development. Depreciation of tangible and intangible fixed assets increased € 16 million, primarily due to investments and
adjustment of the useful life of intangible fixed assets. The other result amounted to minus € 1,609 million, compared to minus
€ 843 million in the comparison period. The main reason for this was the derecognition of expected proceeds from the
enforcement of RBI’s claims against the Austrian assets of Rasperia Trading Limited as well as interest expenses in connection
with the damages awarded to Rasperia (€ 1,269 million) and the allocation of a provision in connection with a second Rasperia
proceeding (€ 339 million). The net release of loan loss provisions declined to € 51 million after € 162 million in the previous
year’s period. The releases for Stage 2 amounted to € 122 million (mostly non-financial corporations and households) and to € 6
million for Stage 1 (mostly households, non-financial corporations and central banks), while allocations of € 76 million were
made for Stage 3 (mostly households and non-financial corporations). The increase in the tax rate in Russia from 20 to 25 per
cent was the main reason for the € 94 million increase in income taxes to € 492 million. Furthermore, expenses related to the
Rasperia proceedings did not have a tax-reducing effect.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Segment and country analysis 353
Ukraine

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2025 | Change
Net interest income | 401 | 391 | 2.7% | 98 | 101 | (2.8)%
Dividend income | 0 | 0 | (65.9)% | 0 | 0 | (24.9)%
Current income from investments in associates | 0 | 0 | – | 0 | 0 | –
Net fee and commission income | 65 | 67 | (3.0)% | 14 | 12 | 16.0%
Net trading income and fair value result | 9 | 19 | (51.0)% | 2 | 2 | 16.1%
Net gains/losses from hedge accounting | 0 | 0 | – | 0 | 0 | –
Other net operating income | 3 | 1 | 311.4% | 3 | 0 | >500.0%
Operating income | 478 | 477 | 0.2% | 118 | 116 | 1.7%
General administrative expenses | (206) | (192) | 7.6% | (58) | (47) | 23.4%
Operating result | 272 | 286 | (4.7)% | 60 | 69 | (13.2)%
Other result | (2) | (3) | (39.4)% | (1) | 0 | –
Governmental measures and compulsory contributions | (12) | (11) | 9.3% | (3) | (3) | 2.9%
Impairment losses on financial assets | 48 | (60) | – | 38 | 6 | 486.5%
Profit/loss before tax | 307 | 212 | 44.6% | 93 | 72 | 29.3%
Income taxes | (77) | (115) | (32.5)% | (23) | (18) | 27.6%
Profit/loss after tax from continuing operations | 229 | 97 | 135.4% | 71 | 54 | 29.9%
Gains/losses from discontinued operations | 0 | 0 | – | 0 | 0 | –
Profit/loss after tax | 229 | 97 | 135.4% | 71 | 54 | 29.9%
Return on equity before tax | 52.1% | 42.1% | 10.0 PP | 54.1% | 44.7% | 9.4 PP
Return on equity after tax | 39.0% | 19.3% | 19.6 PP | 40.8% | 33.6% | 7.2 PP
Net interest margin (average interest-bearing assets) | 8.84% | 9.07% | (0.23) PP | 8.67% | 8.91% | (0.24) PP
Cost/income ratio | 43.1% | 40.1% | 3.0 PP | 49.5% | 40.8% | 8.7 PP

As in the previous year, the income statement was affected by currency volatility (devaluation of the average exchange rate
compared to the previous year: Ukrainian hryvnia 7 per cent). Net interest income rose € 11 million, driven by volumes and
investments in higher-yielding bonds. Net fee and commission income fell € 2 million, particularly in foreign exchange business
due to lower income from banknote trading and the volume- and margin-related decline in the spot foreign exchange
business. Net trading income and fair value result also fell, namely by € 10 million owing to the valuation result of the bonds
held in the trading book.
General administrative expenses rose € 15 million, with staff expenses in particular (up € 10 million) due to salary increases in
the reporting period. IT expenses and software depreciation also increased. The net release of loan loss provisions amounted
to € 48 million (previous year’s period: allocation of € 60 million), of which releases of € 22 million for Stage 2 (mainly non-
financial corporations and governments), € 14 million for Stage 1 (mainly non-financial corporations) and € 12 million for Stage 3
(non-financial corporations). The decrease in income taxes – despite a significant rise in results – is due to the return to a tax
rate of 25 per cent (2024: 50 per cent).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
354 Segment and country analysis
Group Corporates & Markets

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2025 | Change
Net interest income | 725 | 860 | (15.7)% | 179 | 170 | 5.5%
Dividend income | 3 | 7 | (52.8)% | (1) | 1 | –
Current income from investments in associates | 19 | 13 | 44.4% | 4 | 8 | (45.3)%
Net fee and commission income | 600 | 589 | 1.8% | 153 | 152 | 0.7%
Net trading income and fair value result | 155 | 114 | 36.0% | 40 | 16 | 152.8%
Net gains/losses from hedge accounting | 5 | 2 | 137.8% | 2 | (1) | –
Other net operating income | 141 | 131 | 7.6% | 34 | 40 | (15.3)%
Operating income | 1,649 | 1,717 | (4.0)% | 411 | 385 | 6.5%
General administrative expenses | (925) | (931) | (0.7)% | (204) | (234) | (13.1)%
Operating result | 724 | 786 | (7.9)% | 207 | 151 | 37.0%
Other result | (1) | (13) | (93.0)% | 9 | (1) | –
Governmental measures and compulsory contributions | (35) | (18) | 93.7% | 0 | (12) | (100.0)%
Impairment losses on financial assets | (236) | (230) | 2.7% | (66) | (37) | 79.0%
Profit/loss before tax | 452 | 525 | (13.9)% | 150 | 102 | 47.0%
Income taxes | (93) | (113) | (17.7)% | (31) | (21) | 47.6%
Profit/loss after tax | 359 | 412 | (12.8)% | 119 | 81 | 46.9%
Return on equity before tax | 10.4% | 11.8% | (1.3) PP | 13.8% | 9.8% | 4.0 PP
Return on equity after tax | 8.3% | 9.2% | (0.9) PP | 11.0% | 7.8% | 3.2 PP
Net interest margin (average interest-bearing assets) | 1.18% | 1.39% | (0.20) PP | 1.18% | 1.12% | 0.06 PP
Cost/income ratio | 56.1% | 54.2% | 1.9 PP | 49.6% | 60.8% | (11.2) PP

Significantly lower net interest as well as the higher banking levy were mainly responsible for the year-on-year increase of € 53
million in profit after tax to € 359 million. Net interest income fell € 135 million to € 725 million, largely in head office due to
reduced margins on the back of lower market interest rates and lower volumes. Governmental measures and compulsory
contributions rose € 17 million as a result of the bank levy in head office (adjustment of the stability levy in Austria). This was
offset by a € 41 million improvement in net trading income and fair value result to € 155 million. The increase was largely due to
higher valuation results in connection with loans measured at fair value as well as volume-related higher sales proceeds from
the business with certificates. General administrative expenses fell € 6 million, mainly as a result of lower consulting expenses
as well as IT expenses, particularly in head office. This was offset by higher staff expenses (up € 16 million) arising from the
increase in the headcount, expenses for future bonus payments, and salary adjustments under collective agreements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Segment and country analysis 355
Corporate Center

in € million | 2025 | 2024 | Change | Q4/2025 | Q3/2025 | Change
Net interest income | 10 | (95) | – | 12 | 9 | 31.0%
Dividend income | 1,363 | 1,096 | 24.3% | 21 | 93 | (77.4)%
Current income from investments in associates | 32 | 28 | 13.3% | 14 | 14 | (4.3)%
Net fee and commission income | 60 | 76 | (21.2)% | 9 | 17 | (47.9)%
Net trading income and fair value result | (194) | (121) | 60.6% | (59) | (43) | 37.8%
Net gains/losses from hedge accounting | 3 | (3) | – | (1) | (1) | (7.3)%
Other net operating income | 146 | 139 | 5.4% | 61 | 28 | 118.5%
Operating income | 1,419 | 1,120 | 26.6% | 57 | 118 | (51.7)%
General administrative expenses | (487) | (497) | (2.0)% | (140) | (105) | 33.7%
Operating result | 931 | 623 | 49.5% | (83) | 13 | –
Other result | 20 | (54) | – | 33 | (24) | –
Governmental measures and compulsory contributions | (42) | (9) | 356.2% | (19) | (8) | 147.4%
Impairment losses on financial assets | 64 | 5 | >500.0% | 17 | 34 | (50.4)%
Profit/loss before tax | 973 | 565 | 72.2% | (53) | 16 | –
Income taxes | 66 | 82 | (19.7)% | 27 | 17 | 56.4%
Profit/loss after tax from continuing operations | 1,039 | 647 | 60.6% | (25) | 33 | –
Gains/losses from discontinued operations | 0 | (824) | – | 0 | 0 | –
Profit/loss after tax | 1,039 | (177) | – | (25) | 33 | –

There was a significant improvement of € 1,216 million to € 1,039 million in profit after tax. In the previous year, the sale of the
Belarusian Group units resulted in a negative effect of € 824 million on the segment result, which was reported in gains/losses
from discontinued operations.
Higher, mainly intra-group dividend income led to a € 267 million rise in net income. Net interest income improved € 105 million,
primarily as a result of lower refinancing costs in head office. The € 16 million decline in net fee and commission income to € 60
million was due to lower income from clearing, settlement and payment services in head office. Net trading income and fair
value result fell € 73 million to minus € 194 million. The decline is mainly assignable to Treasury at head office, where declining
valuation results for interest rate derivatives were reported. In addition, a volume-driven rise in certificate emissions in the
Group Corporates & Markets segment led to a higher funding basis for Treasury and therefore to a rise in the interest rates
charged to Treasury. Other net operating income improved € 7 million to € 146 million. In the previous year, the allocation of a
provision in head office was included.
The € 10 million rise in general administrative expenses to € 487 million resulted largely from higher staff expenses due to the
increase in headcount as well as salary adjustments under collective agreements. This was offset by lower consulting and IT
expenses, particularly in head office.
The other result amounted to € 20 million in the reporting period, compared to minus € 54 million in the previous year. The
valuation of investments in subsidiaries and associates led to net income of € 19 million, which related mainly to the
investments in Leipnik-Lundenburger Invest Beteiligungs AG and Oesterreichische Kontrollbank AG. In the previous year, a
valuation result of minus € 45 million as well as the allocation of a provision of € 17 million for the discontinuation of the VAT
exemption for interbank services was reported. The governmental measures and compulsory contributions rose € 33 million in
head office, as a result of the increase in the stability levy in Austria. In the reporting period, impairment losses on financial
assets included releases of € 64 million (previous year: € 5 million) from claims from securitization transactions at Group level.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
356
Consolidated financial
statements
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
357

Company | 358
Statement of comprehensive income | 359
Income statement | 359
Other comprehensive income and total comprehensive income | 360
Earnings per share | 360
Statement of financial position | 361
Statement of changes in equity | 362
Statement of cash flows | 363
Notes | 365
Principles underlying the consolidated financial statements | 365
Segment reporting | 377
Notes to the income statement | 384
(1) Net interest income | 384
(2) Dividend income | 384
(3) Current income from investments in associates | 385
(4) Net fee and commission income | 385
(5) Net trading income, fair value result and net gains/losses from hedge accounting | 387
(6) Other net operating income | 388
(7) General administrative expenses | 388
(8) Other result | 390
(9) Governmental measures and compulsory contributions | 390
(10) Impairment losses on financial assets | 391
(11) Taxes | 391
Financial assets measured at amortized cost | 394
(12) Cash, balances at central banks and other demand deposits | 394
(13) Financial assets – amortized cost | 394
(14) Modified assets | 399
(15) Financial liabilities - amortized cost | 399
(16) Fair value of financial instruments not reported at fair value | 402
Financial assets measured at fair value | 403
(17) Financial assets – fair value through other comprehensive income | 403
(18) Non-trading financial assets - mandatorily fair value through profit/ loss | 405
(19) Financial assets and liabilities – designated fair value through profit/ loss | 405
(20) Financial assets – held for trading | 406
(21) Financial liabilities - held for trading | 408
(22) Hedge accounting and fair value adjustments of the hedged items in portfolio hedge | 408
(23) Notes to fair value of financial instruments | 412
Other assets and liabilities and equity | 416
(24) Investments in subsidiaries and associates | 416
(25) Tangible and intangible fixed assets | 420
(26) Other assets | 426
(27) Provisions | 426
(28) Other liabilities | 431

(29) Equity and non-controlling interests | 433
Notes of financial instruments | 439
(30) Loan commitments, financial guarantees and other commitments | 439
(31) Expected credit losses | 441
(32) Collateral and maximum exposure to credit risk | 452
(33) Offsetting of financial assets and liabilities | 453
(34) Securitization (RBI as originator) | 454
(35) Transferred assets | 456
(36) Assets pledged as collateral and received financial assets | 457
(37) Breakdown of remaining terms of maturity | 458
Risk report | 460
(38) Risk management principles | 460
(39) Organization of risk management | 461
(40) Overall group risk management | 463
(41) Credit risk | 465
(42) Market risk | 476
(43) Liquidity management | 482
(44) Operational risks | 488
Other disclosures | 490
(45) Pending legal issues | 490
(46) Other agreements | 503
(47) Fiduciary business pursuant to § 48 (1) of the Austrian Banking Act (BWG) | 503
(48) Leasing | 504
(49) Key figures pursuant to § 64 (1) 18 of the Austrian Banking Act (BWG) | 507
(50) Foreign currency volumes pursuant to § 64 (1) 2 of the Austrian Banking Act (BWG) | 508
(51) Volume of the securities trading book pursuant to § 64 (1) 15 of the Austrian Banking Act (BWG) | 508
(52) Securities admitted for trading on a stock exchange pursuant to § 64 (1) 10 of the Austrian Banking Act (BWG) | 508
(53) Subordinated assets pursuant to § 45 (2) of the Austrian Banking Act (BWG) | 508
(54) Employees | 509
(55) Related parties | 509
(56) Relations to key management | 510
(57) Boards | 512
(58) Group composition | 513
(59) List of equity participations | 520
Regulatory information | 527
(60) Capital management and total capital according to CRR/CRD IV and Austrian Banking Act (BWG) | 527
Key figures | 533
List of abbreviations | 535
Events after the reporting date | 536

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
358 Consolidated financial statements
· Company
Raiffeisen Bank International AG (RBI AG) is registered in the commercial register of the Commercial Court of Vienna under FN
122119m. Its address is Am Stadtpark 9, 1030 Vienna.
RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its
home market. Subsidiary banks cover 11 markets in the region. In addition, the group includes numerous other financial service
providers active in areas such as leasing, asset management, factoring and M&A. RBI not only offers Austrian and international
companies a broad range of products in corporate and investment banking, but also a comprehensive coverage in CEE.
Through an extensive branch network, local companies of all sizes as well as private customers are supplied with high quality
financial products. RBI maintains representative offices and service branches in selected Asian and Western European locations
to support its business activities. In total, around 42,500 RBI employees (previous year: around 42,600) serve 18.6 million
customers (previous year: around 17.9 million) in around 1,300 business outlets (previous year: around 1,400), the vast majority of
which are in CEE.
Since the company’s shares are traded on a regulated market as defined in § 1 (2) of the Austrian Stock Market Act (BörseG)
(prime market of the Vienna Stock Exchange) and numerous RBI AG issues are listed on a regulated market in the EU, RBI AG is
required by § 59a of the Austrian Banking Act (BWG) to prepare consolidated financial statements in accordance with the
International Financial Reporting Standards (IFRSs). RBI has no majority shareholder. The eight regional Raiffeisen banks are
core shareholders that collectively hold approximately 61 per cent of the shares, with the remaining shares in free float.
As a credit institution within the meaning of § 1 of the Austrian Banking Act, RBI AG is subject to regulatory supervision by the
Financial Market Authority located at Otto-Wagner-Platz 5, A-1090 Vienna (www.fma.gv.at) and the European Central Bank
located at Sonnemannstraße 22, D-60314 Frankfurt am Main (www.bankingsupervision.europa.eu).
The consolidated financial statements are lodged with the Companies Register in accordance with Austrian disclosure
regulations and published through the electronic disclosure and information platform (EVI). They were signed by the
Management Board on 17 February 2026 and subsequently submitted for the notice of the Supervisory Board. As part of the
annual financial report as defined in § 124 of the Austrian Stock Market Act (BörseG), the consolidated financial report is also
prepared and published in the european single electronic format (ESEF).
The disclosures required under Article 434 of EU Regulation No 575/2013 on prudential requirements for credit institutions
(Capital Requirements Regulation, CRR) are published on the internet on RBI’s website at www.rbinternational.com → Investors
→ Results & Reports.

ESEF Information |
Name of ultimate parent of group | Raiffeisen Bank International AG
Name of reporting entity | Raiffeisen Bank International AG
Legal form of entity | AG
Principal place of business | 1030 Vienna
Address of entity's registered office | Am Stadtpark 9, 1030 Vienna
Domicile of entity | Austria
Country of incorporation | Austria
Description of nature of entity's operations and principal activities |
RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 11 markets in the region are covered by subsidiary banks, the Group also comprises numerous other financial services providers, for instance in the field of leasing, asset management, factoring and M&A. RBI not only offers Austrian and international companies a broad range of products in corporate and investment banking, but also a comprehensive coverage in CEE. Through an extensive branch network, local companies of all sizes as well as private customers are supplied with high-quality financial products. RBI maintains representative offices and service branches in selected Asian and Western European locations to support its business activities.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 359
· Statement of comprehensive
income
Income statement

in € million | Notes | 2025 | 2024
Net interest income | [1] | 5,874 | 5,779
Interest income according to effective interest method |  | 7,596 | 8,170
Interest income other |  | 2,231 | 2,312
Interest expenses |  | (3,954) | (4,702)
Dividend income | [2] | 31 | 33
Current income from investments in associates | [3] | 52 | 47
Net fee and commission income | [4] | 2,731 | 2,638
Fee and commission income |  | 3,767 | 3,680
Fee and commission expenses |  | (1,036) | (1,042)
Net trading income and fair value result | [5] | 253 | 111
Net gains/losses from hedge accounting | [5] | 6 | 9
Other net operating income | [6] | 151 | 84
Operating income |  | 9,097 | 8,701
Staff expenses |  | (2,347) | (2,053)
Other administrative expenses |  | (1,282) | (1,261)
Depreciation |  | (506) | (472)
General administrative expenses | [7] | (4,134) | (3,786)
Operating result |  | 4,963 | 4,915
Other result | [8] | (1,918) | (1,590)
Governmental measures and compulsory contributions | [9] | (270) | (216)
Impairment losses on financial assets | [10] | (141) | (125)
Profit/loss before tax |  | 2,634 | 2,984
Income taxes | [11] | (1,013) | (953)
Profit/loss after tax from continuing operations |  | 1,621 | 2,031
Gains/losses from discontinued operations 1 |  | 0 | (673)
Profit/loss after tax |  | 1,621 | 1,358
Profit attributable to non-controlling interests | [29] | (250) | (201)
Consolidated profit/loss |  | 1,371 | 1,157
1 In the previous period, the item "Result from discontinued operations" consists of the deconsolidation result and the ongoing result of the Belarusian Group units. In the comparison period, this item reported the ongoing result of the Belarusian Group units.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
360 Consolidated financial statements
Other comprehensive income and total
comprehensive income

in € million | Notes | 2025 | 2024
Profit/loss after tax |  | 1,621 | 1,358
Items which are not reclassified to profit or loss |  | 24 | 6
Remeasurements of defined benefit plans | [27] | 21 | (1)
Fair value changes of equity instruments | [17] | 8 | 27
Fair value changes due to changes in credit risk of financial liabilities | [19] | (6) | (11)
Share of other comprehensive income from companies valued at equity | [24] | 5 | (3)
Deferred taxes on items which are not reclassified to profit or loss | [11] | (4) | (6)
Items that may be reclassified subsequently to profit or loss |  | 1,230 | (340)
Exchange differences |  | 1,098 | (365)
Hedge of net investments in foreign operations | [22, 29] | (15) | (10)
Adaptations to the cash flow hedge reserve | [22] | 163 | (103)
Fair value changes of financial assets | [17] | 29 | 71
Share of other comprehensive income from companies valued at equity | [24] | 2 | 59
Deferred taxes on items which may be reclassified to profit or loss | [11] | (48) | 8
Other comprehensive income |  | 1,254 | (334)
Total comprehensive income |  | 2,875 | 1,024
Profit attributable to non-controlling interests | [29] | (248) | (192)
hereof income statement | [29] | (250) | (201)
hereof other comprehensive income |  | 2 | 9
Profit/loss attributable to owners of the parent |  | 2,627 | 832

Earnings per share

in € million | 2025 | 2024
Consolidated profit/loss | 1,371 | 1,157
Dividend claim on additional tier 1 | (118) | (110)
Profit/loss attributable to ordinary shares | 1,253 | 1,047
Average number of ordinary shares outstanding in million | 328 | 328
Earnings per share in € | 3.82 | 3.19

As no conversion rights or options were outstanding, no dilution of earnings per share occurred. The dividend on additional
tier 1 capital is calculated; the effective payment is based on the decision of the Management Board at the respective payment
date.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 361
· Statement of financial
position
Assets

in € million | Notes | 2025 | 2024
Cash, balances at central banks and other demand deposits | [12] | 35,340 | 34,871
Financial assets - amortized cost | [13] | 155,508 | 147,701
Financial assets - fair value through other comprehensive income | [17, 23] | 4,486 | 3,610
Non-trading financial assets - mandatorily fair value through profit/loss | [18, 23] | 1,347 | 1,094
Financial assets - designated fair value through profit/loss | [19, 23] | 208 | 304
Financial assets - held for trading | [20, 23] | 7,230 | 5,945
Hedge accounting | [22] | 1,098 | 1,014
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | [22] | (372) | (234)
Investments in subsidiaries and associates | [24] | 944 | 871
Tangible fixed assets | [25] | 1,729 | 1,683
Intangible fixed assets | [25] | 1,108 | 1,003
Current tax assets | [11] | 124 | 130
Deferred tax assets | [11] | 167 | 216
Other assets | [26] | 1,348 | 1,645
Total |  | 210,265 | 199,851

Equity and liabilities

in € million | Notes | 2025 | 2024
Financial liabilities - amortized cost | [15] | 170,588 | 163,316
Financial liabilities - designated fair value through profit/loss | [19, 23] | 1,061 | 1,108
Financial liabilities - held for trading | [21, 23] | 11,082 | 9,304
Hedge accounting | [22] | 942 | 1,308
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | [22] | (343) | (359)
Provisions for liabilities and charges | [27] | 2,675 | 2,902
Current tax liabilities | [11] | 144 | 217
Deferred tax liabilities | [11] | 58 | 53
Other liabilities | [28] | 1,594 | 1,663
Equity | [29] | 22,463 | 20,340
Consolidated equity |  | 19,452 | 17,299
Non-controlling interests |  | 1,386 | 1,260
Additional tier 1 |  | 1,625 | 1,781
Total |  | 210,265 | 199,851

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
362 Consolidated financial statements
· Statement of changes in
equity

in € million | Subscribed capital | Capital reserves | Retained earnings | Cumulative other comprehensive income | Consolidated equity | Non- controlling interests | Additional tier 1 | Total
Equity as at 1/1/2024 | 1,002 | 4,988 | 15,600 | (4,580) | 17,009 | 1,231 | 1,610 | 19,849
Capital increases/ decreases | 0 | 0 | 0 | 0 | 0 | 0 | 169 | 169
Allocation dividend - AT1 | 0 | 0 | (107) | 0 | (107) | 0 | 107 | 0
Dividend payments | 0 | 0 | (410) | 0 | (410) | (88) | (107) | (605)
Own shares | 0 | 1 | 0 | 0 | 1 | 0 | 3 | 4
Other changes | 0 | 0 | (27) | 0 | (27) | (75) | 0 | (102)
Total comprehensive income | 0 | 0 | 1,157 | (325) | 832 | 192 | 0 | 1,024
Equity as at 1/1/2025 | 1,002 | 4,990 | 16,213 | (4,905) | 17,299 | 1,260 | 1,781 | 20,340
Capital increases/ decreases | 0 | 0 | 0 | 0 | 0 | 0 | -174 | -174
Allocation dividend - AT1 | 0 | 0 | (120) | 0 | (120) | 0 | 120 | 0
Dividend payments | 0 | 0 | (361) | 0 | (361) | (129) | (120) | (609)
Own shares | (1) | (4) | 0 | 0 | (4) | 0 | 4 | 0
Other changes | 0 | 0 | 24 | (12) | 12 | 7 | 13 | 32
Total comprehensive income | 0 | 0 | 1,371 | 1,256 | 2,627 | 248 | 0 | 2,875
Equity as at 31/12/2025 | 1,001 | 4,986 | 17,127 | (3,661) | 19,452 | 1,386 | 1,625 | 22,463

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 363
· Statement of cash flows

in € million | Notes | 2025 | 2024
Cash, balances at central banks and other demand deposits as at 1/1 | [12] | 34,871 | 43,234
Operating activities: |  |  |
Profit/loss before tax |  | 2,634 | 2,984
Adjustments for the reconciliation of profit/loss after tax to the cash flow from operating activities: |  |  |
Depreciation, amortization, impairment and reversal of impairment on non-financial assets | [7, 8] | 511 | 465
Net provisioning for liabilities and charges and impairment losses on financial assets | [6, 10, 27] | 558 | 1,563
Gains/losses from the measurement and derecognition of assets and liabilities | [5, 8] | (254) | 137
Current income from investments in associates | [3] | (52) | (47)
Other adjustments (net)¹ |  | (5,940) | (6,441)
Subtotal |  | (2,543) | (1,340)
Changes in assets and liabilities arising from operating activities after corrections for non-cash positions: |  |  |
Financial assets - amortized cost | [13] | 1,608 | (5,377)
Financial assets - fair value through other comprehensive income | [17, 23] | (767) | (770)
Non-trading financial assets - mandatorily fair value through profit/loss | [18, 23] | (270) | (200)
Financial assets - designated fair value through profit/loss | [19, 23] | 97 | (119)
Financial assets - held for trading | [20, 23] | (1,019) | (562)
Other assets | [26] | 501 | (199)
Financial liabilities - amortized cost | [15] | 6,318 | 2,239
Financial liabilities - designated fair value through profit/loss | [19, 23] | (53) | 17
Financial liabilities - held for trading | [21, 23] | 1,931 | 1,069
Provisions for liabilities and charges | [27] | (352) | (358)
Other liabilities | [28] | (940) | (77)
Interest received | [1] | 9,062 | 10,301
Interest paid | [1] | (3,558) | (4,245)
Dividends received | [2] | 68 | 65
Income taxes paid | [11] | (1,011) | (1,086)
Net cash from operating activities |  | 9,071 | (643)
Investing activities: |  |  |
Cash and cash equivalents from changes in scope of consolidation due to materiality |  | (12) | (5)
Payments for purchase of: |  |  |
Investment securities and shares | [13, 16, 18, 24] | (10,527) | (7,421)
Tangible and intangible fixed assets | [25] | (547) | (497)
Proceeds from sale of: |  |  |
Investment securities and shares | [13, 16, 18, 24] | 3,321 | 2,401
Tangible and intangible fixed assets | [25] | 93 | 84
Subsidiaries² | [8] | 0 | (962)
Net cash from investing activities |  | (7,671) | (6,399)
Financing activities: |  |  |
Capital increases |  | 0 | 645
Capital decreases |  | (174) | (472)
Inflows subordinated financial liabilities | [15, 19] | 84 | 183
Outflows subordinated financial liabilities | [15, 19] | (278) | (139)
Dividend payments |  | (609) | (605)
Cash flows for leases |  | (46) | (59)
Inflows from changes in non-controlling interests |  | 0 | 0
Net cash from financing activities |  | (1,023) | (447)
Effect of exchange rate changes |  | 92 | (876)
Cash, balances at central banks and other demand deposits as at 31/12 | [12] | 35,340 | 34,871
1 Other adjustments (net) mainly include the deduction of net interest income and dividend income; the corresponding cash flows are shown under the items interest received, interest paid and dividends received.
2 The negative net amount from the disposal of subsidiaries in the previous year resulted from the sales price of €215 million less the cash and cash equivalents disposed of in the amount of €1,177 million.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
364 Consolidated financial statements
Cash flows from operating activities, investing activities, and financing activities are presented in the cash flow statement in a
manner that best reflects RBI’s business operations. Cash flows from operating activities represent cash flows from the
significant revenue-generating activities of the company. The determination of cash flows from operating activities is done
using the indirect method, where the profit before taxes from the income statement is adjusted for non-cash items and
expanded by the cash flow changes in assets and liabilities. Additionally, expense and income items attributable to the
investment or financing activities are deducted. As a financial institution, RBI classifies paid interest, received interest, and
dividends as cash flows from operating activities.
The cash inflows and outflows for investment securities shown in the cash flow from investing activities include securities held
for long-term investment purposes, while those for shares include unconsolidated subsidiaries and associated companies.
Further information regarding cash, balances at central banks and other demand deposits can be found in note (12) Cash,
balances at central banks and other demand deposits. Details regarding the changes in subordinated financial liabilities
presented in the cash flow from financing activities can be found under note (15) Financial liabilities - amortized cost.
For RBI as a credit institution group, the significance of the cash flow statement is considered to be low. The cash flow
statement is neither a liquidity nor a financial planning tool. Furthermore, it is not used as a steering instrument by the senior
management.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 365
· Notes
Principles underlying the consolidated financial
statements
Principles of preparation
The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS)
published by the International Accounting Standards Board (IASB) and the international accounting standards adopted by the
EU on the basis of IAS Regulation (EC) 1606/2002 including the applicable interpretations of the International Financial reporting
Interpretations Committee (IFRIC/SIC). Standards and interpretations not yet applicable that have been published and
endorsed by the EU are outlined in the section standards and interpretations not yet applicable (already endorsed by the EU).
The consolidated financial statements also meet the requirements of § 245a of the Austrian Commercial Code (UGB) and § 59a
of the Austrian Banking Act (BWG) regarding exempting consolidated financial statements that comply with internationally
accepted accounting principles.
A financial asset is recognized when it is probable that the future economic benefits will flow to the company and the
acquisition or production costs, or another value can be reliably measured. A financial liability is recognized when it is probable
that an outflow of resources embodying economic benefits will result from the settlement of the obligation and the amount at
which the settlement will take place can be measured reliably. An exception are certain financial instruments which are
recognized at fair value at the reporting date. Provided that the underlying contracts do not fall within the scope of IFRS 9 or
IFRS 16, revenue is recognized if the conditions of IFRS 15 are met and if it is probable that the economic benefits will flow to the
Group and the amount of revenue can be measured reliably. These consolidated financial statements have been prepared on a
going concern basis.
The consolidated financial statements are based on the reporting packages of all fully consolidated Group members, which are
prepared according to IFRS rules and uniform Group standards. All material subsidiaries prepare their annual financial
statements as at and for the year ended 31 December. Some IFRS disclosures made outside the notes form an integral part of
the consolidated financial statements. These are mainly explanations on net income from segments, which are included in the
notes on segment reporting. Detailed notes on IFRS 7 are included under note (41) Credit risk, note (42) Market risk and note (43)
Liquidity management. This information is presented in accordance with IFRS 8 Operating Segments and IFRS 7 Financial
Instruments Disclosures respectively.
Classification and measurement of financial assets and financial liabilities
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument
of another entity. On initial recognition, financial instruments are to be measured at fair value, which generally corresponds to
the transaction price at the time of acquisition or issue. If the Group unit determines that the fair value on initial recognition
differs from the transaction price, but this fair value measurement is not evidenced by a valuation technique that uses only
data from observable markets, then the carrying amount of the financial asset or financial liability on initial recognition is
adjusted to defer the difference between the fair value measurement and the transaction price. The deferred difference is
subsequently recognized as a gain or loss only to the extent that it arises from change in a factor (including time) that market
participants would consider in setting the price. According to IFRS 13, the fair value is defined as the exit price. For subsequent
measurement, financial instruments are recognized in the statement of financial position according to the respective
measurement category pursuant to IFRS 9, either at (amortized) cost or at fair value.
The classification of financial assets under IFRS 9 is firstly based on the business model under which the assets are managed,
and secondly on the cash flow characteristics of the assets. For RBI, this results in five classification categories for financial
assets:
· Financial assets measured at amortized cost (AC)
· Financial assets measured at fair value through other comprehensive income (FVOCI)
· Financial assets mandatorily measured at fair value through profit or loss (FVTPL)
· Financial assets designated fair value through profit or loss (FVTPL)
· Financial assets held for trading (HFT).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
366 Consolidated financial statements
Financial liabilities are generally recognized according to IFRS 9 at (amortized) cost (financial liabilities – amortized cost)
applying the effective interest method unless they are measured at fair value. This includes financial liabilities that are held for
trading (financial liabilities – held for trading) and designated as FVTPL (financial liabilities – designated fair value through
profit/loss). Changes in the fair value of liabilities designated at fair value through profit or loss which are caused by changes in
RBI’s own default risk are to be shown in other comprehensive income.
In accordance with IFRS 9, embedded derivatives are not separated from the host contract of a financial asset. Instead,
financial assets are classified in accordance with the business model and their contractual characteristics as explained in the
section business model assessment and in the section analysis of contractual cash flow characteristics. With financial
liabilities, embedded derivatives are only separated from the host instrument and separately accounted for as derivatives if
their economic characteristics and risks are not closely related to the economic characteristics and risks of the host contract,
the embedded derivative meets the definition of a derivative and the hybrid financial instrument is not associated with a
financial liability item that is held for trading or designated at fair value through profit or loss.
Further details on the classification and measurement of financial assets and financial liabilities can be found in the notes of
the respective items of the income statement and the statement of financial position.
Reclassification of financial assets
Reclassification is only possible for financial assets, not for financial liabilities. In RBI, a change in the measurement category is
only possible if there is a change in the business model used to manage a financial asset. Such changes are expected to occur
very rarely, are determined by the management following external or internal changes and must not only be significant for the
entity’s operations but also be capable of being proven to external parties. If these conditions apply, then the reclassification is
mandatory. If such a reclassification is necessary, this must be changed prospectively from the date of reclassification and
approved by the RBI Management Board.
Business model assessment
RBI reviews the objective of the business model under which a financial asset is managed at a portfolio level because this best
reflects the way the business is managed, and information is provided to management. The following factors are considered
as evidence when assessing which business model is relevant:
· How the performance of the business model (and the financial assets held within that business model) is assessed
and reported to the entity’s key management personnel
· The risks that affect the performance of the business model (and the financial assets held within that business
model) and the way those risks are managed
· How managers of the business are compensated – e.g. whether the compensation is based on the fair value of the
assets managed or the contractual cash flows collected
· The frequency, value, and timing of sales in prior periods, the reasons for such sales, and expectations about future
sales activity
· Whether sales activity and the collection of contractual cash flows are each integral or incidental to the business
model (hold-to-collect versus hold-and-sell business model).
Financial assets that are held for trading and those that are managed and whose performance is evaluated on a fair value
basis will be measured at fair value through profit or loss (FVTPL).
A business model’s objective can be to hold financial assets to collect contractual cash flows even when some sales of financial
assets have occurred or are expected to occur. For RBI, the following sales may be consistent with the hold-to collect business
model:
· The sales are due to an increase in the credit risk of a financial asset.
· The sales are infrequent (even if significant) or are insignificant individually and in aggregate (even if frequent).
· The sales take place close to the maturity of the financial asset and the proceeds from the sales approximate the
collection of the remaining contractual cash flows.
The number of sales in RBI is small, and like the volume of the sales out of the hold-to-collect business model, monitored over
time to have a documentation basis that respective sales are consistent with the hold-to-collect business model. The
judgement is made under reference to the rules of IFRS 9 which foresee that those sales out of the hold-to-collect business
model may be permissive in cases where they occur infrequently (even if significant in value) or are insignificant in value both
individually and in aggregate (even if frequent).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 367
Analysis of contractual cash flow characteristics
If RBI has decided that the business model of a specific portfolio is to hold the financial assets to collect the contractual cash
flows (or to both collect contractual cash flows and sell financial assets), it must assess whether the contractual terms of the
financial assets allocated to this portfolio result on specific dates in cash flows that are solely payments of principal and
interest on the principal amount outstanding. For this purpose, interest is defined as consideration for the time value of money
and for the credit risk associated with the principal amount outstanding during a particular period and for other basic lending
risks and costs, as well as a profit margin. This assessment will be carried out on an instrument-by-instrument basis on the
date of initial recognition of the financial asset.
In assessing whether the contractual cash flows are solely payments of principal and interest, RBI considers the contractual
terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the
timing or amount of contractual cash flows in such a way that this condition is no longer met. RBI considers amongst other
things:
· Prepayment or extension terms
· Leverage agreements
· Claim is limited to specified assets or cash flows
· Contractually linked instruments
· Sustainability-linked instruments
IFRS 9 includes regulations for prepayment features with negative compensation. Negative compensation arises where the
contractual terms permit the borrower to prepay the instrument before its contractual maturity, but the prepayment amount
could be less than unpaid amounts of principal and interest. However, to qualify for amortized cost measurement, the negative
compensation must be a reasonable compensation for early termination of the contract.
Sustainability-linked (ESG-linked) loans are structured such that their interest rates vary based on whether the borrower
achieves pre-determined targets defined in the loan agreement. As long as the variability of the interest rate is not related to
additional leverage, linked to an external index or is below a predefined threshold the loans are shown at amortized cost.
Modification of the time value of money and the benchmark test
The time value of money is the element of interest that provides consideration for only the passage of time. It does not take
other risks (credit, liquidity etc.) or costs (administrative etc.) associated with holding a financial asset into account. In some
cases, the time value of money element is modified (referred to as imperfect). This would be the case, for example, if a
financial asset’s interest rate is periodically adjusted but the frequency of the interest rate adjustment does not match the
tenor of the interest rate. In this case units must assess the modification as to whether the contractual cash flows represent
solely payments of principal and interest, i.e. the modification term may not significantly alter the cash flows from a perfect
benchmark instrument.
RBI has developed a quantitative benchmark test to assess whether the cash flow condition has been met. This test
determines whether the undiscounted modified contractual cash flows differ significantly from the undiscounted cash flows of
a benchmark instrument. The benchmark instrument is equivalent to the tested asset in all respects except for the modified
interest components. At the time when the transaction is initially entered, the quantitative benchmark test is performed using
1,000 forward-looking simulations of future market interest rates over the life of the financial asset. The test assumes a
normal distribution of interest rates using the single-factor Hull-White model when simulating the scenarios. To pass the
quantitative benchmark test, the financial asset being tested must not exceed two significance thresholds. The significance
thresholds are established as the quotient of the simulated cash flows from the modified interest rate components and the
benchmark instrument. The quotient must not exceed 10 per cent over a reporting period (three months) or 5 per cent over the
entire life of the financial asset being tested. If one of these two significance thresholds is exceeded, the financial asset will
have failed the benchmark test and must be measured at fair value through profit or loss.
A benchmark test is applied for the following main contractual features that can potentially modify the time value of money:
· Reset rate frequency does not match interest tenor
· Lagging indicator
· Smoothing clause
· Grace period
· Secondary market yield reference (UDRB: Average government bond yields weighted by outstanding amounts).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
368 Consolidated financial statements
Relationships between items of the statement of financial position and
measurement criteria

| Measurement
Assets/liabilities | Fair value | Amortized cost
Asset classes |  |
Cash, balances at central banks and other demand deposits |  | x
Financial assets - amortized cost |  | x
hereof loans from finance lease |  | x
Financial assets - fair value through other comprehensive income | x |
Non-trading financial assets - mandatorily fair value through profit/loss | x |
Financial assets - designated fair value through profit/loss | x |
Financial assets - held for trading | x |
Hedge accounting | x |
Liability classes |  |
Financial liabilities - amortized cost |  | x
hereof liabilities from finance lease |  | x
Financial liabilities - designated fair value through profit/loss | x |
Financial liabilities - held for trading | x |
Hedge accounting | x |

Key sources of estimation uncertainty and critical accounting judgments
If estimates or assessments are necessary for accounting and measuring according to IAS/IFRS, they are made in accordance
with the respective standards. They are based on past experiences and other factors, such as planning and expectations or
forecasts of future events that appear likely, based on current judgement. The estimates and underlying assumptions are
reviewed on an ongoing basis. Alterations to estimates that affect only one period will be considered only in that period. If the
following reporting periods are also affected, the alterations will be taken into consideration in the current and following
periods. The assumptions, estimates and accounting judgment mainly related to expected credit losses, the fair value and
impairment calculation of financial instruments, deferred tax assets, provisions for pensions and similar obligations, provisions
for litigation as well as the goodwill impairment test and immaterial assets capitalized during initial consolidation. The actual
values can deviate from the estimated values.
In relation to Rasperia the following key sources of estimation uncertainty and accounting judgments were taken into account:
Due to the revised management assessment, the expected proceeds from the enforcement of RBI’s claims against the Austrian
assets of Rasperia amounting to € 1,204 million were derecognized in June 2025. In addition a provision of € 339 million for
pending legal issues was recognized at 31 December 2025. For further information please refer to note (45) Pending legal
issues. In relation to the control assessment of AO Raiffeisenbank in accordance with IFRS 10 please refer to chapter
Consequences and analysis of the armed conflict between Russia and Ukraine.
In the double materiality analysis for the consolidated non-financial statement in 2025 the financial materiality of
sustainability matters was considered in the short, medium and long-term. In the short term, defined as the reporting period of
the consolidated financial statements, it was assessed that there was no financially material risks from sustainability matters,
except for lawsuits related to consumer protection issues. As a result the consolidated financial statements do not include any
separate disclosure on sustainability related uncertainties that materially affect the estimation assumptions. In the long term,
which is considered as five years onwards, there is a moderate chance of a material impact on the credit risk of our customer
portfolio due to climate change risks. For more details please see chapter IRO-1: Process to identify and assess material
impacts, risks and opportunities and note (31) Expected credit losses.
Additionally, in the light of the geopolitical situation RBI is exposed to increased risks related to foreign currency translation.
Details can be found in the chapter exchange differences.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 369
Impairment in the lending business
RBI ascertains on a forward-looking basis the expected credit losses (ECL) associated with its debt instrument assets carried at
amortized cost and fair value through other comprehensive income and with the exposure arising from loan commitments,
leasing receivables and financial guarantee contracts. The calculation of expected credit losses (ECL) requires the use of
estimates that may not necessarily match actual results. In order to determine the amount of the impairment, significant
credit risk parameters such as PD (Probability of Default), LGD (Loss Given Default) and EAD (Exposure at Default) as well as
forward-looking information (economic forecasts) are to be estimated by management. The expected credit losses are
adjusted at each reporting date. IFRS 9 requires the assessment if a significant increase in credit risk exists, without providing
detailed guidance. Conseque ntly, specific rules for the assessment have been defined, which consist of both qualitative
information and quantitative thresholds. The methods for determining the amount of the impairment are explained in the
section impairment general (IFRS 9). Quantitative information and sensitivity analyses are presented in the notes under (31)
Expected credit losses . Judgement is required when calculating expected credit losses, especially when considering risks that
are not adequately reflected in the models, such as overlays and other risk factors for sanction and geopolitical risks.
Fair value of financial instruments
Fair value is the price received for the sale of an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. This applies regardless of whether the price can be directly observed or has been
estimated on the basis of a measurement method. In determining the fair value of an asset or liability, the Group considers
certain features of the asset or liability (e.g. condition and location of the asset, or restrictions in the sale and use of an asset)
if market participants would also consider such features in determining the price for the acquisition of the respective asset or
for the transfer of the liability at the measurement date. Where the market for a financial instrument is not active, fair value is
established using a valuation technique or pricing model. For valuation methods and models, estimates are generally used
depending on the complexity of the instrument and the availability of market-based data. The input parameters for these
models are derived from observable market data where possible, nevertheless non-observable market data are required in
many cases. Under certain circumstances, valuation adjustments are necessary to account for other factors such as model risk,
liquidity risk or credit risk. The valuation models are described in the notes in the section on classification and measurement of
financial assets and financial liabilities. In addition, the fair values of financial instruments are disclosed under (23) Notes to fair
value of financial instruments.
Provisions for litigation
Provisions are recognized when the Group has a present obligation from a past event, where it is likely that it will be obliged to
settle, and an estimate of the amount is possible. The level of provisions is the best possible estimate of expected outflow of
economic benefits at the reporting date while considering the risks and uncertainties underlying the commitment to fulfill the
obligation. Risks and uncertainties are taken into consideration when making estimates. In some cases, lawsuits are filed by a
number of retail customers. The measurement of the provision in such cases is based on a statistical approach. These
approaches consider both static data, where relevant, and expert opinions, especially in connection with the lawsuits and
losses expected in the future. Details on provisions, particularly for CHF and Euro loans in Poland, as well as the provision
concerning the litigation for Rasperia, are disclosed under (45) Pending legal issues.
Provision for pensions and similar obligations
The cost of the defined benefit pension plan is determined using an actuarial valuation. The actuarial valuation involves
making assumptions about future salary increases, mortality rates and future pension increases. Considerable accounting
judgement is to be exercised in this connection in determining the parameters. Mercer´s interest rate recommendation is used
to determine the discount rate from which expected returns are derived. The main criteria for the selection of such corporate
bonds are the issuance volumes of the bonds, the quality of the bonds and the identification of outliers, which are not
considered. Assumptions and estimates used for the long-term defined benefit obligation calculations are described in the
section on pension obligations and other termination benefits. Quantitative information on long-term employee provisions is
disclosed in the notes under (27) Provisions.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
370 Consolidated financial statements
Deferred tax assets
Deferred tax assets are recognized only to the extent that it is probable that in the future sufficient taxable profit will be
available against which those tax loss carry forwards, tax credits or deductible temporary differences can be utilized. A
planning period of five years is used to this purpose. Such a period allows for a reliable estimate of the tax result based on
planning. This assessment requires significant judgments and assumptions to be made by management. In determining the
deferred tax assets, the management uses historical tax capacity and profitability information and, if relevant, forecasted
operating results based upon approved business plans, including a review of the eligible carry-forward period. Quantitative
information on deferred taxes can be found under (11) Taxes.
Analysis of contractual cash flow characteristics
In addition to the business model test, a test of a financial asset’s cash flows is also necessary to allocate it to the
measurement categories at amortized cost or at fair value through other comprehensive income. In order to pass the
contractual cash flow characteristics test, the asset’s contractual cash flows must consist solely of payments of principal and
interest on the principal amount outstanding. This analysis of whether contractual cash flows of financial assets consist solely
of interest and principal payments involves critical judgments. At RBI, these judgments are mainly applied to loans with
mismatched interest components, considering the individual contractual features of financial assets. In order to be able to
assess whether a financial asset passes the cash flow characteristics test, a benchmark test is necessary in some
circumstances to evaluate a changed element for the time value of money.
Goodwill impairment test
All goodwill is tested each year with respect to its future economic benefits based on cash-generating units. An impairment
test is conducted as of the reporting date if indications of possible impairment arise during the financial year. In the course of
the impairment test, significant judgments, assumptions and estimates are required, in particular with regard to the timing
and amount of future expected cash flows and the discount rate. For additional information, see (8) Other result and (25)
Tangible and intangible fixed assets.
Impairment testing of companies valued at equity
The carrying amounts of companies valued at equity must be tested for impairment if there are objective indications of
impairment. At the end of each reporting period, an assessment is made as to whether there is any indication that the carrying
amount of an investment exceeds its recoverable amount. IAS 36 contains a list of internal and external indicators that are
considered as indications of impairment. If an indication arises that an entity valued at equity may be impaired, the
recoverable amount of the asset is calculated. If the objective indicators of an impairment are no longer present, a reversal of
the impairment occurs. However, this reversal is limited to the amount that would have resulted if no impairment had been
recognized. This means that the carrying amount of the investment in the associated company must not exceed the
proportionate equity. The significant judgments and estimates in connection with the impairment test relate particularly to
the discount rate, the planning assumptions, and the future expected cash flows. Details can be found under (24) Investments
in subsidiaries and associates.
Application of new and revised standards
Changes in IFRS effective in 2025
The following amendments to IFRS became effective in the current reporting period (and have been endorsed by the European
Union), with no significant impact on RBI's financial statements:
· Amendment to IAS 21. Non-exchangeability of foreign currencies
Upcoming changes in IFRS after 2025
RBI has not early adopted the new or amended standards and interpretations set out below that have been issued but are not
yet effective. RBI is assessing their potential impact.
Effective in 2026 (endorsed by the EU)
· Annual Improvements, Volume 11
· Amendments to IFRS 9 and IFRS 7. Contracts Referencing to Nature-dependent Electricity
· Amendments to IFRS 9 and IFRS 7. Classification and Measurement of Financial Instruments
The initial application of the above-mentioned amendments is not expected to have a significant impact on RBI’s consolidated
financial statements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 371
Effective in 2027 (not yet endorsed by the EU)
· New Standard IFRS 18. Presentation and Disclosure in Financial Statements. The RBI analyzes the impact of this new
standard through a coordinated approach involving multiple working groups. The standard will take effect from
January 1, 2027, resulting in changes to the presentation of the income statement and additions to the notes to the
financial statements. The RBI does not expect a significant impact on the Group's financial position and
performance.
· Amendments to IAS 21. Translation to a Hyperinflationary Presentation Currency
In addition, in May 2024 the IASB issued the new accounting standard IFRS 19, Subsidiaries without Public Accountability:
Disclosures. However, this standard is not applicable to RBI’s consolidated financial statements.
Exchange differences
The consolidated financial statements of RBI were prepared in euro which is the functional currency of RBI AG. The functional
currency is the currency of the principal economic environment in which the company operates. Each entity within the Group
determines its own functional currency taking all factors listed in IAS 21 into account. All financial statements of fully
consolidated companies prepared in a functional currency other than euro were translated into the reporting currency euro
employing the modified closing rate method in accordance with IAS 21. Equity was translated at its historical exchange rates
while all other assets, liabilities and the notes were translated at the prevailing foreign exchange rates as at the reporting
date. Differences arising from the translation of equity (historical exchange rates) are offset against retained earnings.
The income statement items were translated at the average exchange rates during the year calculated on the basis of month-
end rates. Depending on the development of the exchange rate and the nature of the business transaction, there may be
individual cases where the actual transaction rate is used instead of the average rate. This may particularly occur in instances
of significant one-off effects, in the financial year this applied in particular to the items in the income statement affected by a
Russian legal case (Rasperia Trading Limited). Differences arising between the exchange rate as at the reporting date and the
average exchange rate applied in the income statement were offset against equity (cumulative other comprehensive income).
Accumulated exchange differences are reclassified from the item exchange differences shown in other comprehensive income
to the income statement under net income from deconsolidation, in the event of a disposal of a foreign business operation
which leads to loss of control, joint management or significant influence over this business operation.

| 2025 | 2024
| As at | Average | As at | Average
Rates in units per € | 31/12 | 1/1-31/12 | 31/12 | 1/1-31/12
Albanian lek (ALL) | 96.770 | 98.009 | 98.150 | 100.760
Belarusian-ruble (BYN)1 | — | — | 3,787 | 3.517
Bosnian marka (BAM) | 1.956 | 1.956 | 1.956 | 1.956
Polish zloty (PLN) | 4.221 | 4.240 | 4.275 | 4.305
Romanian leu (RON) | 5.097 | 5.040 | 4.974 | 4.975
Russian ruble (RUB) | 93.540 | 94.928 | 113.833 | 101.322
Serbian dinar (RSD) | 117.282 | 117.197 | 117.015 | 117.084
Czech koruna (CZK) | 24.237 | 24.695 | 25.185 | 25.123
Ukrainian hryvnia (UAH) | 49.857 | 46.962 | 43.927 | 43.471
Hungarian forint (HUF) | 385.150 | 397.728 | 411.350 | 395.971
US dollar (USD) | 1.175 | 1.124 | 1.039 | 1.083
1 Due to the sale of the Belarusian units for year-end 2024 the exchange rate as at 30 November 2024 was used.

In the context of the geopolitical situation, RBI is exposed to increased risks related to foreign currency translations. The ECB
stopped publishing an official EUR/RUB exchange rate in March 2022 and an actual and factually achievable exchange rate (e.g.
provided by Refinitiv or Electronic Broking Service (EBS): off-shore rate) established itself in addition to the theoretical, official
exchange rate (rate determined by the Russian central bank: on-shore rate).
RBI is exposed to these risks particularly in the translation of monetary items denominated in a foreign currency and in the
translation of fully consolidated foreign business operations. According to IAS 21, the respective closing rate must be used
when translating monetary items into the functional currency. The closing rate is defined as the exchange rate that would
apply if the transaction were executed immediately. In particular, it must be taken into account whether an officially quoted
price is available on the closing date and whether it is available for immediate settlement. If multiple exchange rates are
available, the exchange rate at which the future cash flows from the transaction could have been settled on the balance sheet
date is to be used in accordance with IAS 21.26. In summary, RBI has concluded that this rate as of 31 December 2025 would
essentially correspond to the off-shore rate, which was accordingly used in the currency translation foreign currency positions
in rubles, provided the functional currency of the entity was not the ruble.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
372 Consolidated financial statements
RBI has subsidiaries that report in a functional currency other than the Group’s presentation currency. The translation of fully
consolidated foreign operations into the reporting currency of RBI must be carried out in accordance with IAS 21.39:
· At the closing rate at the reporting date (assets and liabilities)
· At the exchange rate at the time of the respective transactions or, for practical reasons, at an appropriate average
rate (income and expenses).
For this purpose, as with the translation of foreign currency transactions, the determination of suitable exchange rates is
necessary. Usually, the exchange rate used for this purpose is the one that would be applied when converting dividends from
the foreign business operation or for any capital repatriations. Due to the government restrictions introduced in Russia, RBI
assumes that cash inflows from foreign business operations in Russia could not be converted at the official exchange rate of
the Russian central bank as at the balance sheet date, rather, the actual and factually achievable rate would be applied. In
transactions with international banks, the off-shore rate is usually used for this purpose; accordingly, the foreign business
operation in Russia was translated at this rate on the balance sheet date. As of the balance sheet date, there was only an
insignificant difference between the EUR/RUB exchange rate from Refinitiv and that of the Russian central bank.
Consolidated group

| Fully consolidated
Number of units | 2025 | 2024
As at beginning of period | 182 | 192
Included for the first time in the financial period | 1 | 3
Merged in the financial period | 0 | (4)
Excluded in the financial period | (13) | (9)
As at end of period | 170 | 182
Domicile in Austria | 100 | 107
Domicile abroad | 70 | 75
Banks | 16 | 17
Financial institutions | 98 | 105
Companies rendering bank-related ancillary services | 9 | 6
Financial holding companies | 3 | 3
Other | 44 | 51

Included units

Company, domicile (country) | Share | Included as of | Reason
Financial institutions |  |  |
Raiffeisen investicni spolecnost a.s., Prague (CZ) | 75.0% | 1/1 | Materiality

Excluded units

Company, domicile (country) | Share | Excluded as of | Reason
Banks |  |  |
Aedificium Banca pentru Locuinte S.A., Bucharest (RO) | 100.0 % | 1/6 | in liquidation
Financial institutions |  |  |
CUPIDO Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 100.0 % | 1/5 | Sale
RL Grundstückverwaltung Klagenfurt-Süd GmbH, Vienna (AT) | 100.0 % | 1/5 | Sale
AGIOS Raiffeisen-Immobilien Leasing Gesellschaft m.b.H., Vienna (AT) | 51.0 % | 1/6 | Sale
RIL XIV Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 100.0 % | 1/8 | Materiality
Raiffeisen Leasing-Projektfinanzierung Gesellschaft m.b.H., Vienna (AT) | 100.0 % | 1/8 | Materiality
SOLAR II Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 100.0 % | 1/8 | Materiality
Abade Immobilienleasing GmbH, Eschborn (DE) | 100.0 % | 1/11 | Materiality
Abade Immobilienleasing GmbH & Co Projekt Lauterbach KG, Kriftel (DE) | 6.0 % | 1/11 | Materiality
LYRA Raiffeisen Immobilien Leasing Gesellschaft m.b.H., Vienna (AT) | 100.0 % | 1/11 | Materiality
Companies rendering bank-related ancillary services |  |  |
ASCENT Pflege Borna Immobilienleasing GmbH, Kriftel (DE) | 75.0 % | 1/8 | Materiality
Other companies |  |  |
ASCENT Pflege Erfurt Immobilienleasing GmbH, Kriftel (DE) | 75.0 % | 1/1 | Materiality
ASCENT Pflege Schleswig Immobilienleasing GmbH, Kriftel (DE) | 75.0 % | 1/1 | Materiality

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 373
Consequences and analysis of the armed conflict between Russia and
Ukraine
Going Concern
The RBI Management Board has prepared the consolidated financial statements as at 31 December 2025 on a going concern
basis as they do not intend to liquidate RBI and based on current available information this is considered a realistic intention.
RBI has the required economic resources to be able to meet ongoing regulatory requirements as well as being able to fund
business and liquidity needs (liquidity and funding profile, including forecasts of internal liquidity metrics and regulatory
liquidity coverage ratios). The most recent internally generated stress testing scenarios for liquidity and capital requirements
have shown that RBI has adequate resources to withstand reasonably possible downside scenarios. Additionally, RBI has robust
systems in place to mitigate the operational disruption of doing business in a warzone.
The RBI Management Board has concluded that there are no material uncertainties that could cast significant doubt over their
ability to continue as a going concern for at least a year from the date of approval, 17 February 2026, of the annual report to
be issued.
Control event
The economic and political environment due to the war may indicate changes in the ability of an investor to control
subsidiaries according to IFRS 10 in the affected areas. For RBI, especially Ukraine and Russia can be counted among the
affected areas.
In assessing control, RBI`s examination includes if it is exposed, or has rights, to variable returns from its involvement with the
investee and has the ability to affect those returns through its power over the investee according to the requirements of IFRS
10. If voting rights are relevant, RBI has control over an entity in which it directly or indirectly holds more than 50 per cent of the
voting rights, except when there are indicators that another investee has the ability to determine unilaterally the relevant
activities of the entity. RBI assesses evidence of control in cases in which it does not hold the majority of voting rights but has
the ability to unilaterally govern the relevant activities of the entity. This ability may occur in cases in which RBI has the ability
to control the relevant activities due to the extent and distribution of voting rights of the investees. If facts and circumstances
indicate that there are changes to one or more elements of control, a reassessment whether control over the investee still
exists is done.
When examining the facts and circumstances RBI carefully considered whether there have been changes that may significantly
limit its ability to exercise the rights or governance provisions with respect to a subsidiary due to the war or the sanctions
imposed. RBI has concluded that no changes are necessary in the assessment of control and that control was not lost over the
subsidiaries in the affected areas.
In a court hearing held on 4 August 2025, the Court of Cassation in St. Petersburg granted AO Raiffeisenbank’s motion to cancel
the preliminary injunction and lifted the transfer ban over the shares in AO Raiffeisenbank.
Pro forma representation of the profit and loss statement and balance sheet
excluding Russia based on IFRS 5
Although the conditions for the application of IFRS 5 are currently not met, the tables below show the pro forma profit and
loss, as well as the balance sheet of RBI, as it would look like after applying the requirements of IFRS 5 for discontinued
operations of the Russian units. Consequently, the consolidated result of the Russian units has been reclassified under the item
Gains/losses from discontinued operations.
Due to the difficulty of predicting potential developments, any possible loss from a deconsolidation scenario, composed of the
loss of net asset value and the recycling of the other comprehensive income in the income statement, is not reflected in the
tables. The recycling of the other comprehensive income has no impact on the regulatory capital and capital ratios of RBI and
is related to the reclassification of predominantly historical currency fluctuations losses.
The CET 1 ratio, including the period result and excluding Russian operations under the assumption of full loss of the net asset
value at the deconsolidation, would amount to 15.5 per cent compared to 17.9 per cent including Russian operations.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
374 Consolidated financial statements

| RBI | Pro forma IFRS 5 Impact Russia | RBI Pro forma IFRS 5
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Net interest income | 5,874 | 5,779 | (1,617) | (1,498) | 4,257 | 4,281
Dividend income | 31 | 33 | 0 | 0 | 30 | 33
Current income from investments in associates | 52 | 47 | 0 | (1) | 52 | 46
Net fee and commission income | 2,731 | 2,638 | (739) | (808) | 1,992 | 1,830
Net trading income and fair value result | 253 | 111 | (261) | (41) | (8) | 70
Net gains/losses from hedge accounting | 6 | 9 | 0 | 0 | 5 | 9
Other net operating income | 151 | 84 | (10) | 9 | 141 | 92
Operating income | 9,097 | 8,701 | (2,627) | (2,340) | 6,470 | 6,361
Staff expenses | (2,347) | (2,053) | 522 | 347 | (1,825) | (1,706)
Other administrative expenses | (1,282) | (1,261) | 90 | 85 | (1,192) | (1,176)
Depreciation | (506) | (472) | 67 | 44 | (439) | (428)
General administrative expenses | (4,134) | (3,786) | 679 | 476 | (3,456) | (3,310)
Operating result | 4,963 | 4,915 | (1,949) | (1,865) | 3,014 | 3,050
Other result | (1,918) | (1,590) | 1,608 | 843 | (310) | (748)
Governmental measures and compulsory contributions | (270) | (216) | 22 | 30 | (248) | (185)
Impairment losses on financial assets | (141) | (125) | (51) | (162) | (192) | (287)
Profit/loss before tax | 2,634 | 2,984 | (371) | (1,154) | 2,263 | 1,830
Income taxes | (1,013) | (953) | 492 | 399 | (521) | (554)
Profit/loss after tax from continuing operations | 1,621 | 2,031 | 122 | (755) | 1,743 | 1,275
Gains/losses from discontinued operations | 0 | (673) | (122) | 755 | (122) | 82
Profit/loss after tax | 1,621 | 1,358 | 0 | 0 | 1,621 | 1,358
Profit attributable to non-controlling interests | (250) | (201) | 0 | 0 | (250) | (201)
Consolidated profit/loss | 1,371 | 1,157 | 0 | 0 | 1,371 | 1,157

| RBI | Pro forma IFRS 5 Impact Russia | RBI Pro forma IFRS 5
Assets in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Cash, balances at central banks and other demand deposits | 35,340 | 34,871 | (11,119) | (3,906) | 24,221 | 30,965
Financial assets - amortized cost | 155,508 | 147,701 | (5,349) | (10,533) | 150,159 | 137,169
Financial assets - fair value through other comprehensive income | 4,486 | 3,610 | (3) | (4) | 4,483 | 3,606
Non-trading financial assets - mandatorily fair value through profit/loss | 1,347 | 1,094 | 0 | 0 | 1,347 | 1,094
Financial assets - designated fair value through profit/loss | 208 | 304 | 0 | 0 | 208 | 304
Financial assets - held for trading | 7,230 | 5,945 | (34) | (20) | 7,196 | 5,925
Hedge accounting | 1,098 | 1,014 | (47) | (5) | 1,051 | 1,009
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (372) | (234) | 17 | 30 | (355) | (205)
Investments in subsidiaries and associates | 944 | 871 | (1) | (1) | 943 | 870
Tangible fixed assets | 1,729 | 1,683 | (248) | (187) | 1,481 | 1,496
Intangible fixed assets | 1,108 | 1,003 | (148) | (90) | 959 | 913
Current tax assets | 124 | 130 | 0 | (4) | 124 | 125
Deferred tax assets | 167 | 216 | (76) | (118) | 92 | 98
Non-current assets and disposal groups classified as held for sale | 4 | 9 | 17,073 | 14,890 | 17,077 | 14,899
Other assets | 1,344 | 1,636 | (65) | (51) | 1,279 | 1,585
Total | 210,265 | 199,851 | 0 | 0 | 210,265 | 199,851

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 375

| RBI | Pro forma IFRS 5 Impact Russia | RBI Pro forma IFRS 5
Equity and liabilities in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Financial liabilities - amortized cost | 170,588 | 163,316 | (10,729) | (8,995) | 159,859 | 154,321
Financial liabilities - designated fair value through profit/loss | 1,061 | 1,108 | 0 | 0 | 1,061 | 1,108
Financial liabilities - held for trading | 11,082 | 9,304 | 0 | (12) | 11,082 | 9,292
Hedge accounting | 942 | 1,308 | (18) | (122) | 924 | 1,186
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (343) | (359) | 2 | 19 | (341) | (340)
Provisions for liabilities and charges | 2,675 | 2,902 | (497) | (961) | 2,177 | 1,941
Current tax liabilities | 144 | 217 | (38) | (44) | 106 | 173
Deferred tax liabilities | 58 | 53 | (4) | (11) | 54 | 42
Liabilities included in disposal groups classified as held for sale | 0 | 0 | 11,455 | 10,388 | 11,455 | 10,388
Other liabilities | 1,594 | 1,663 | (171) | (263) | 1,423 | 1,400
Equity | 22,463 | 20,340 | 0 | 0 | 22,463 | 20,340
Consolidated equity | 19,452 | 17,299 | 0 | 0 | 19,452 | 17,299
Non-controlling interests | 1,386 | 1,260 | 0 | 0 | 1,386 | 1,260
Additional tier 1 | 1,625 | 1,781 | 0 | 0 | 1,625 | 1,781
Total | 210,265 | 199,851 | 0 | 0 | 210,265 | 199,851

Concentration risk
Since the outbreak of war in Ukraine, RBI`s activities in Russia and Ukraine have been exposed to increased risk. The heightened
risk is driven by several factors such as the destruction of livelihoods and infrastructure in Ukraine as well as the loss and
blockading of ports, sanctions imposed on Russia, uncertainty about the length of the war and price instability and economic
contraction in the affected countries. The exposure to Russia and Ukraine is presented in the tables below.
The first table shows the split of the net carrying amount based on IFRS measurement categories as well as the nominal of the
off-balance exposure after impairments. The second table shows the concentration risk on counterparty level, whereby
derivatives of the trading book are shown separately.

| 2025 | 2024
in € million | Russia | Ukraine | Total | Russia | Ukraine | Total
Financial assets - amortized cost | 6,345 | 2,395 | 8,740 | 12,126 | 2,473 | 14,598
Financial assets - fair value through other comprehensive income | 3 | 979 | 982 | 4 | 770 | 774
Non-trading financial assets - mandatorily fair value through profit/loss | 2 | 0 | 2 | 2 | 0 | 2
Financial assets - designated fair value through profit/loss | 0 | 0 | 0 | 0 | 0 | 0
Financial assets - held for trading | 49 | 111 | 161 | 53 | 121 | 174
On-balance | 6,400 | 3,486 | 9,885 | 12,185 | 3,364 | 15,549
Loan commitments, financial guarantees and other commitments | 2,274 | 1,401 | 3,676 | 2,018 | 1,048 | 3,067
Total | 8,674 | 4,887 | 13,561 | 14,203 | 4,412 | 18,615

| 2025 | 2024
in € million | Russia | Ukraine | Total | Russia | Ukraine | Total 1
Derivatives | 43 | 0 | 43 | 42 | 2 | 44
Central banks | 120 | 267 | 387 | 5,697 | 255 | 5,952
General governments | 1,958 | 1,306 | 3,265 | 1,078 | 1,129 | 2,207
Banks | 1,553 | 216 | 1,769 | 1,985 | 593 | 2,579
Other financial corporations | 162 | 64 | 227 | 168 | 25 | 192
Non-financial corporations | 789 | 1,437 | 2,226 | 1,383 | 1,198 | 2,580
Households | 1,772 | 196 | 1,968 | 1,831 | 163 | 1,994
On-balance | 6,400 | 3,486 | 9,885 | 12,185 | 3,364 | 15,549
Loan commitments, financial guarantees and other commitments | 2,274 | 1,401 | 3,676 | 2,018 | 1,048 | 3,067
Total | 8,674 | 4,887 | 13,561 | 14,203 | 4,412 | 18,615

For the effects on the models for calculating impairments in accordance with IFRS 9, please refer to note (31) Expected credit
losses.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
376 Consolidated financial statements
Valuation of collateral in Ukraine
The real estate market continues to be significantly affected by the war, but at the same time it is adapting to new realities. In
western Ukraine the demand for retail spaces and warehouse properties is increasing, resulting in a price growth, while the
demand for office real estate is decreasing. Prices in the primary residential real estate market increased in almost all regions
during 2025. Non-eligible status was applied for collateral in occupied regions and in regions with high risk of hostility or
occupation significantly increased discounts were applied. For other areas of Ukraine, ongoing on-site visits and evaluations
are taking place.
Impairment test for tangible and intangible fixed assets
Due to the war between Russia and the Ukraine, tangible and intangible fixed assets in both countries were examined for
indicators that could lead to an impairment in accordance with IAS 36.
In Ukraine, the tangible fixed assets located in the occupied territories were already written off to zero in 2022. All other
tangible fixed assets were assessed individually and adjusted if damage occurred. This resulted in a reversal of impairments
less than € 1 million in the reporting year 2025 (previous year: reversal of impairments less than € 1 million).
Due to changes in market prices, interest rates, rental prices and vacant properties, as a result of the geopolitical situation and
a more detailed appraisal the impairment test for tangible fixed assets in Russia resulted in an impairment loss of around € 1
million (previous year: reversal of impairment losses € 8 million). The impairment test for intangible fixed assets resulted in a
impairment loss of € 3 million (previous year: reversal of impairment losses less than € 1 million).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 377
Segment reporting
Segment classification
Segmentation principles
As a rule, internal management reporting at RBI is based on the current organizational structure. This matrix structure means
that each member of the Management Board is responsible both for individual countries and for specific business activities. A
cash generating unit (CGU) within the Group is a country. The presentation of the countries includes the operating units of RBI
in the respective countries (in addition to subsidiary banks, e.g. also leasing companies). Accordingly, the RBI management
bodies – Management Board and Supervisory Board – make key decisions that determine the resources allocated to any given
segment based on its financial strength and profitability, which is why these reporting criteria are a material component in the
decision-making process. The segments are also presented accordingly in compliance with IFRS 8. When assigning countries to
the individual reportable segments, in addition to long-term economic similarities such as equity risk premiums, potential
market growth and net interest margins, the expected risk and return levels are also taken into account when allocating
resources. According to IFRS 8.12, it is also required that the following economic characteristics are taken into account when
composing the reportable segments. The countries are combined into a reportable segment if the products and services
offered are the same. In addition to the uniform production processes and sales channels, the target groups such as corporate
customers, private customers and institutional customers are also similar in the individual segments. Banking regulations in
each country are mainly monitored by central banks. In all countries, the central bank is responsible for formulating and
implementing monetary policy, maintaining financial stability, and regulating the banking sector.The reconciliation contains
mainly the amounts resulting from the elimination of intra-group results and consolidation between the segments.
In order to achieve the maximum possible transparency and in the interest of clearer lines of reporting, segments were defined
in accordance with the IFRS 8 thresholds. IFRS 8 establishes a 10 per cent threshold for the key figures of operating income,
profit after tax and segment assets.
Central Europe
This segment encompasses the most advanced banking markets in Central and Eastern Europe, namely the EU members,
Czech Republic, Hungary, Poland and Slovakia. In Slovakia, RBI is active in the corporate and retail customer business, leasing,
asset management and building society business. In retail business, Tatra banka is pursuing a multi-brand strategy. In the
Czech Republic, RBI operates not only the traditional banking business with corporate and retail customers, but also real estate
leasing and building society business. In Hungary, the Group provides services to retail and corporate customers. The focus is
based on corporate customers and affluent retail customers. In Poland, RBI is present with a reduced portfolio of retail foreign
currency mortgage loans.
Southeastern Europe
The Southeastern Europe segment comprises Albania, Bosnia and Herzegovina, Croatia, Kosovo, Romania, and Serbia. In these
markets, RBI is represented by banks and leasing companies, as well as own capital management and asset management
companies and pension funds in some markets. In Albania, financial services are offered across all business areas. In Kosovo,
RBI also offers a comprehensive product range. In Bosnia and Herzegovina, the emphasis is on small and medium-sized
enterprises, while also including a wide range of products for retail customers. In Croatia, the focus is on large and medium-
sized corporate customers and on retail customers (including pension funds business). In Romania, a broad range of financial
services is offered via a tightly knit branch network. In Serbia, the market is serviced by a universal bank and leasing
companies.
Eastern Europe
This segment comprises Russia and in the previous year Belarus. Raiffeisenbank Russia serves both selected corporate and
private customers. RBI is also represented in the leasing business in Russia.
In November 2024, RBI successfully completed the sale of the Belarusian Group units. The current result of this unis in the
reporting year 2024 was reported under the item result from discontinued operations. The result from deconsolidation was
allocated to the Corporate Center segment.
Ukraine
This segment encompasses Ukraine. In Ukraine, RBI is represented by a bank and provides a full range of financial services
through the bank’s digital channels and via a local branch network.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
378 Consolidated financial statements
Group Corporates & Markets
The Group Corporates & Markets segment covers operating business booked in Austria. This primarily comprises financing
business with Austrian and international corporate customers serviced from Vienna, Financial Institutions & Sovereigns, the
trading of equity instruments and capital market financing, and business with the institutions of the Raiffeisen Banking Group
(RBG). This segment also covers the capital market-based customer and proprietary business in Austria. Besides RBI AG, this
also includes financial services outsourced to subsidiaries, such as Vienna-based entities like Raiffeisen Digital Bank AG (digital
retail banking activities), Kathrein Privatbank Aktiengesellschaft, Raiffeisen Leasing Group, Raiffeisen Factor Bank AG,
Raiffeisen Bausparkasse Gesellschaft m.b.H., Valida Group (pension fund business) and Raiffeisen Kapitalanlage-Gesellschaft
mit beschränkter Haftung. In addition, companies valued at equity that are active in the financial services sector are allocated
to this segment: Notartreuhandbank AG, Oesterreichische Kontrollbank AG, Prva stavebna sporitelna a.s., Bratislava and
Posojilnica Bank eGen.
Corporate Center
The Corporate Center segment encompasses services in various areas provided by head office and joint service providers that
serve to implement the Group’s overall strategy and that are allocated to this segment to ensure comparability. Therefore, this
segment includes the following areas: Liquidity management and balance sheet structure management, equity participation
management, the banking operations carried out by head office for financing Group units, the Austrian and international
transaction and services business for financial services providers, as well as other companies outside the financial service
provider business that are not directly assigned to another segment e.g. real estate projects. Companies valued at equity that
are not active in the financial services sector are also assigned to this segment such as UNIQA Insurance Group AG, Raiffeisen
Informatik GmbH & Co KG, EMCOM Beteiligungs GmbH, Raiffeisen-Leasing Management GmbH, Öster. Hotel- und
Tourismusbank GmbH and Leipnik-Lundenburger Invest Beteiligungs AG, (holding company with participations in the flour, mill,
and vending segments).
Assessment of segment profit/loss
The segment reporting according to IFRS 8 shows the segment performance based on internal management reporting,
supplemented with the reconciliation of the segment results to the consolidated financial statements. In principle, RBI’s
management reporting is based on IFRS. Therefore, no differences occur in the recognition and measurement principles
between segment reporting and consolidated financial statements.
The governance of each segment is based on key indicators relating to profitability, efficiency, constraint and business mix
parameters. The target values of these key indicators are determined according to the specific market environment and
adapted when necessary.
Profitability
Profitability is measured by the return on equity (ROE) and return on risk-adjusted capital (RORAC) based on the internal
management systems. The return on equity shows the profitability of a CGU and is calculated as the ratio of profit/loss after
deduction of non-controlling interests to average consolidated equity employed. The return on equity reflects the yield of the
capital employed of each segment. The calculation of the RORAC incorporates risk-adjusted capital, which reflects the capital
necessary in case of possible unexpected losses. In RBI, this capital requirement is calculated within the economic capital model
for credit, market, and operational risk. This ratio shows the yield on the risk-adjusted equity (economic capital), but it is not an
indicator pursuant to IFRS. Within the different countries and business lines the actual RORAC generated is compared with the
respective predetermined minimal value (RORAC hurdle), which reflects appropriate market yield expectations.
Efficiency
The cost/income ratio represents the cost efficiency of the segment. The cost/income ratio shows general administrative
expenses (excluding transaction tax) in relation to operating income (less recharged transaction tax and before impairment),
which is the sum of net interest income, dividend income, current income from investments in associates, net fee and
commission income, net trading income and fair value result, net gains/losses from hedge accounting and other net operating
income.
Constraints
In accordance with the Basel III framework, specific legal regulations are to be considered. The proportion of common equity
tier 1 capital to total risk-weighted assets (common equity tier 1 ratio) is for example an important indicator of whether the
underlying capital is adequate for the business volume. Industry sector specifics lead to different risk weights within the
calculation of risk-weighted assets according to CRR. These factors are crucial for the calculation of the regulatory minimum
total capital requirements. As part of the annual Supervisory Review and Evaluation Process (SREP), the ECB stipulates in a
notification that additional CET1 capital must be held in order to cover those risks which are not considered or are insufficiently
considered in Pillar I. Moreover, the efficient use of the available capital is calculated internally, whereby the actual usage is
compared to the theoretically available risk coverage capital. The long-term liquidity ratios are also restrictive and are defined
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 379
in accordance with the regulatory requirements. The minimum requirements for total capital and eligible liabilities (MREL)
result in restrictions on bank distributions (maximum distributable amount).
Business mix
The following key performance indicators are relevant in ensuring a reasonable and sustainable business structure, whereby
the composition of the result and the underlying portfolio parameters are of significance. The structure of the primary funding
basis for loans and advances to customers is measured by using the loan/deposit ratio. The net interest margin is calculated
based on average interest-bearing assets.
The presentation of segment performance is based on the income statement and geared to the reporting structure internally
used. Income and expenses are attributed primarily to the country and secondary to business area in which they are
generated. The segment reporting is thus shown by country and region, respectively. The segment result is shown up to the
profit/loss after deduction of non-controlling interests.
The segment assets are represented by the total assets and the risk-weighted assets. The reconciliation includes mainly the
amounts resulting from the elimination of intra-group results and consolidation between the segments. The income statement
is supplemented with financial ratios conventionally used within the industry to evaluate performance. The values shown in the
segment reporting are for the most part taken from the IFRS individual financial statements, which are also used for the
compilation of the consolidated financial statements. At head office, profit center results are taken from the internal
management income statement.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
380 Consolidated financial statements
Segment reporting

2025 | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
in € million
Net interest income | 1,650 | 1,399 | 1,690 | 401
Dividend income | 4 | 5 | 0 | 0
Current income from investments in associates | 0 | 0 | 0 | 0
Net fee and commission income | 703 | 574 | 729 | 65
Net trading income and fair value result | 3 | 31 | 238 | 9
Net gains/losses from hedge accounting | (1) | 0 | 0 | 0
Other net operating income | 55 | 17 | 16 | 3
Operating income | 2,414 | 2,026 | 2,674 | 478
General administrative expenses | (1,201) | (852) | (688) | (206)
Operating result | 1,214 | 1,174 | 1,986 | 272
Other result | (313) | (6) | (1,609) | (2)
Governmental measures and compulsory contributions | (74) | (85) | (22) | (12)
Impairment losses on financial assets | (7) | (51) | 51 | 48
Profit/loss before tax | 820 | 1,032 | 406 | 307
Income taxes | (247) | (167) | (492) | (77)
Profit/loss after tax from continuing operations | 572 | 865 | (86) | 229
Gains/losses from discontinued operations | 0 | 0 | 0 | 0
Profit/loss after tax | 572 | 865 | (86) | 229
Profit attributable to non-controlling interests | (158) | 0 | 0 | (73)
Profit/loss after deduction of non-controlling interests | 415 | 865 | (86) | 156
Return on equity before tax | 17.8% | 26.6% | 6.5% | 52.1%
Return on equity after tax | 12.4% | 22.3% | — | 39.0%
Net interest margin (average interest-bearing assets) | 2.40% | 3.79% | 9.74% | 8.84%
Cost/income ratio | 47.6% | 42.0% | 25.7% | 43.1%
Loan/deposit ratio | 78.4% | 67.3% | 26.6% | 41.4%
Provisioning ratio (average loans to customers) | 0.01% | 0.23% | (1.03)% | (2.72)%
NPE ratio | 1.0% | 1.6% | 1.2% | 3.1%
NPE coverage ratio | 58.5% | 65.4% | 78.8% | 82.3%
Assets | 73,141 | 40,751 | 18,505 | 5,002
Total risk-weighted assets (RWA) | 26,554 | 19,482 | 19,042 | 4,370
Equity | 5,157 | 4,535 | 5,622 | 773
Loans to customers | 42,222 | 21,695 | 4,415 | 1,697
Deposits from customers | 56,512 | 32,104 | 10,298 | 4,034
Business outlets | 334 | 638 | 66 | 266
Employees as at reporting date (full-time equivalents) | 10,699 | 12,264 | 8,522 | 5,078
Customers in million | 4.6 | 5.4 | 2.9 | 3.1

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 381

2025 | Group Corporates & Markets | Corporate Center | Reconciliation | Total
in € million
Net interest income | 725 | 10 | (1) | 5,874
Dividend income | 3 | 1,363 | (1,345) | 31
Current income from investments in associates | 19 | 32 | 1 | 52
Net fee and commission income | 600 | 60 | 1 | 2,731
Net trading income and fair value result | 155 | (194) | 10 | 253
Net gains/losses from hedge accounting | 5 | 3 | (2) | 6
Other net operating income | 141 | 146 | (227) | 151
Operating income | 1,649 | 1,419 | (1,564) | 9,097
General administrative expenses | (925) | (487) | 225 | (4,134)
Operating result | 724 | 931 | (1,338) | 4,963
Other result | (1) | 20 | (8) | (1,918)
Governmental measures and compulsory contributions | (35) | (42) | 0 | (270)
Impairment losses on financial assets | (236) | 64 | (10) | (141)
Profit/loss before tax | 452 | 973 | (1,356) | 2,634
Income taxes | (93) | 66 | (2) | (1,013)
Profit/loss after tax from continuing operations | 359 | 1,039 | (1,358) | 1,621
Gains/losses from discontinued operations | 0 | 0 | 0 | 0
Profit/loss after tax | 359 | 1,039 | (1,358) | 1,621
Profit attributable to non-controlling interests | (19) | 0 | 0 | (250)
Profit/loss after deduction of non-controlling interests | 340 | 1,039 | (1,358) | 1,371
Return on equity before tax | 10.4% | – | – | 12.5%
Return on equity after tax | 8.3% | – | – | 7.7%
Net interest margin (average interest-bearing assets) | 1.18% | – | – | 2.95%
Cost/income ratio | 56.1% | – | – | 44.8%
Loan/deposit ratio | 167.3% | – | – | 82.0%
Provisioning ratio (average loans to customers) | 0.66% | – | – | 0.14%
NPE ratio | 2.9% | – | – | 1.7%
NPE coverage ratio | 25.9% | – | – | 46.5%
Assets | 63,635 | 28,865 | (19,635) | 210,265
Total risk-weighted assets (RWA) | 23,660 | 16,866 | (9,049) | 100,924
Equity | 4,600 | 7,122 | (5,345) | 22,463
Loans to customers | 35,954 | 1,001 | (1,374) | 105,610
Deposits from customers | 20,968 | 6,540 | (2,880) | 127,575
Business outlets | 18 | – | – | 1,322
Employees as at reporting date (full-time equivalents) | 3,714 | 2,148 | – | 42,425
Customers in million | 2.7 | 0.0 | 0.0 | 18.6

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
382 Consolidated financial statements

2024 | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
in € million
Net interest income | 1,606 | 1,392 | 1,623 | 391
Dividend income | 11 | 4 | 0 | 0
Current income from investments in associates | 5 | 0 | 1 | 0
Net fee and commission income | 622 | 506 | 793 | 67
Net trading income and fair value result | 6 | 22 | 59 | 19
Net gains/losses from hedge accounting | 7 | 0 | 0 | 0
Other net operating income | 35 | 15 | (6) | 1
Operating income | 2,293 | 1,939 | 2,471 | 477
General administrative expenses | (1,099) | (807) | (488) | (192)
Operating result | 1,195 | 1,132 | 1,982 | 286
Other result | (656) | (14) | (843) | (3)
Governmental measures and compulsory contributions | (86) | (61) | (30) | (11)
Impairment losses on financial assets | 8 | (19) | 162 | (60)
Profit/loss before tax | 461 | 1,037 | 1,272 | 212
Income taxes | (245) | (162) | (399) | (115)
Profit/loss after tax from continuing operations | 216 | 875 | 873 | 97
Gains/losses from discontinued operations | 0 | 0 | 151 | 0
Profit/loss after tax | 216 | 875 | 1,024 | 97
Profit attributable to non-controlling interests | (139) | 0 | (18) | (31)
Profit/loss after deduction of non-controlling interests | 77 | 875 | 1,006 | 66
Return on equity before tax | 10.3% | 29.1% | 29.6% | 42.1%
Return on equity after tax | 4.8% | 24.5% | 20.3% | 19.3%
Net interest margin (average interest-bearing assets) | 2.52% | 4.17% | 8.87% | 9.07%
Cost/income ratio | 47.9% | 41.6% | 19.8% | 40.1%
Loan/deposit ratio | 80.4% | 65.6% | 35.7% | 33.2%
Provisioning ratio (average loans to customers) | (0.02)% | 0.10% | (0.85)% | 2.18%
NPE ratio | 1.3% | 1.7% | 1.6% | 4.4%
NPE coverage ratio | 56.7% | 66.2% | 69.0% | 82.5%
Assets | 65,286 | 38,048 | 16,945 | 4,986
Total risk-weighted assets (RWA) | 24,432 | 17,434 | 16,994 | 4,709
Equity | 4,688 | 4,259 | 4,512 | 623
Loans to customers | 37,836 | 20,583 | 4,176 | 1,385
Deposits from customers | 49,648 | 30,060 | 9,512 | 4,149
Business outlets | 337 | 650 | 89 | 298
Employees as at reporting date (full-time equivalents) | 10,069 | 12,490 | 8,863 | 5,251
Customers in million | 4.2 | 5.2 | 3.2 | 2.9

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 383

2024 | Group Corporates & Markets | Corporate Center | Reconciliation | Total
in € million
Net interest income | 860 | (95) | 3 | 5,779
Dividend income | 7 | 1,096 | (1,086) | 33
Current income from investments in associates | 13 | 28 | 0 | 47
Net fee and commission income | 589 | 76 | (16) | 2,638
Net trading income and fair value result | 114 | (121) | 10 | 111
Net gains/losses from hedge accounting | 2 | (3) | 3 | 9
Other net operating income | 131 | 139 | (231) | 84
Operating income | 1,717 | 1,120 | (1,317) | 8,701
General administrative expenses | (931) | (497) | 228 | (3,786)
Operating result | 786 | 623 | (1,089) | 4,915
Other result | (13) | (54) | (7) | (1,590)
Governmental measures and compulsory contributions | (18) | (9) | 0 | (216)
Impairment losses on financial assets | (230) | 5 | 8 | (125)
Profit/loss before tax | 525 | 565 | (1,088) | 2,984
Income taxes | (113) | 82 | (1) | (953)
Profit/loss after tax from continuing operations | 412 | 647 | (1,089) | 2,031
Gains/losses from discontinued operations | 0 | (824) | 0 | (673)
Profit/loss after tax | 412 | (177) | (1,089) | 1,358
Profit attributable to non-controlling interests | (24) | 0 | 11 | (201)
Profit/loss after deduction of non-controlling interests | 388 | (178) | (1,078) | 1,157
Return on equity before tax | 11.8% | – | – | 15.4%
Return on equity after tax | 9.2% | – | – | 9.7%
Net interest margin (average interest-bearing assets) | 1.39% | – | – | 2.98%
Cost/income ratio | 54.2% | – | – | 43.0%
Loan/deposit ratio | 161.1% | – | – | 82.7%
Provisioning ratio (average loans to customers) | 0.62% | – | – | 0.22%
NPE ratio | 3.5% | – | – | 2.1%
NPE coverage ratio | 39.4% | – | – | 51.6%
Assets | 62,818 | 33,001 | (21,234) | 199,851
Total risk-weighted assets (RWA) | 25,055 | 17,215 | (10,239) | 95,600
Equity | 4,729 | 8,045 | (6,516) | 20,340
Loans to customers | 36,003 | 1,031 | (1,463) | 99,551
Deposits from customers | 24,544 | 3,753 | (3,950) | 117,717
Business outlets | 17 | – | – | 1,391
Employees as at reporting date (full-time equivalents) | 3,704 | 2,187 | – | 42,564
Customers in million | 2.5 | 0.0 | – | 17.9

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
384 Consolidated financial statements
Notes to the income statement
(1) Net interest income
Interest and interest-like income mainly includes interest income on financial assets such as loans, fixed-interest securities, as
well as interest and interest-like income from the trading portfolio. Interest expenses and interest-like expenses mainly include
interest paid on deposits, debt securities issued and subordinated capital. Interest income and interest expenses are accrued in
the reporting period. Negative interest from asset items is shown in interest expenses; negative interest from liability items is
shown in interest income.

in € million | 2025 | 2024
Interest income according to effective interest method | 7,596 | 8,170
Financial assets - fair value through other comprehensive income | 227 | 169
Financial assets - amortized cost | 7,369 | 8,001
Interest income other | 2,231 | 2,312
Financial assets - held for trading | 384 | 214
Non-trading financial assets - mandatorily fair value through profit/loss | 56 | 40
Financial assets - designated fair value through profit/loss | 7 | 9
Derivatives – hedge accounting, interest rate risk | 146 | 294
Other assets | 1,635 | 1,752
Interest income on financial liabilities | 3 | 3
Interest expenses | (3,954) | (4,702)
Financial liabilities - amortized cost | (3,051) | (3,751)
Financial liabilities - held for trading | (424) | (245)
Financial liabilities - designated fair value through profit/loss | (37) | (37)
Derivatives – hedge accounting, interest rate risk | (421) | (649)
Other liabilities | (14) | (14)
Interest expenses on financial assets | (6) | (7)
Total | 5,874 | 5,779

in € million | 2025 | 2024
Net interest income | 5,874 | 5,779
Average interest-bearing assets | 198,836 | 194,071
Net interest margin | 2.95% | 2.98%

Net interest income includes interest income of € 674 million (previous year: € 432 million) from marked-to-market financial
assets and interest expenses of € 462 million (previous year: € 282 million) from marked-to-market financial liabilities.
Net interest income grew € 95 million to € 5,874 million. While the average key interest rate decreased year-on-year for most
of the Group’s currencies (particularly for EUR, CZK and HUF), it rose for the Russian ruble, despite interest rate cuts in the
second half of the year. Business volume growth and purchases of government bonds in almost all countries supported net
interest income. Due to the reduction in market interest rates, the net interest margin was down 2 basis points to 2.95 per cent.
(2) Dividend income
Dividends from equities, subsidiaries not fully consolidated, strategic investments and associates not valued at equity are
recognized under dividend income. Dividends are recognized through profit/loss if RBI’s legal entitlement to payment has
materialized.

in € million | 2025 | 2024
Financial assets - held for trading | 1 | 0
Non-trading financial assets - mandatorily fair value through profit/loss | 1 | 2
Financial assets - fair value through other comprehensive income | 9 | 10
Investments in subsidiaries and associates | 20 | 20
Total | 31 | 33

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 385
(3) Current income from investments in associates

in € million | 2025 | 2024
Current income from investments in associates | 52 | 47

(4) Net fee and commission income
RBI applies the five-step revenue recognition model in IFRS 15 - Revenues from contracts with customers - for the recognition
of commission income when the contractual performance obligation to the customer has been satisfied. In cases where
contractual arrangements are part of a financial instrument under IFRS 9 the instruments are initially recognized at fair value
before applying IFRS 15. This is sometimes the case with loan commitments for which, depending on utilization, a portion of the
fee must be disclosed as part of the effective interest rate method in net interest income in accordance with IFRS 9 or in net
fee and commission income in accordance with IFRS 15 if not utilized .
In RBI, fee income is primarily generated from services provided at a fixed price over a certain period, such as card and current
account services or on a transactional basis at a point-in-time such as foreign exchange and payment services. In the case of
asset management fees income is normally variable and depends on factors such as the volume of assets under management
as well as performance of the underlying assets. Variable fees are recognized when all uncertainties, e.g. discounts or rebates,
are resolved and amounts are known.
If transactions are processed directly on behalf of the customer, the fees are reported on a gross basis. If, on the other hand,
RBI acts as an agent, the fees are shown net of payments to third parties.
Fees for foreign exchange and payment services are recognized in RBI at the time the service was rendered to the customer.
Fees that accrue over a certain period are recognized predominantly on a straight-line basis over the term of the contract.
In some cases, RBI offers a package of services (bundled services). These services may contain multiple performance
obligations which are usually distinguishable performance obligations, such as current account services, and the transaction
price is allocated to the individual performance obligation.
RBI has no financing agreements and no material assets or liabilities from long-term contracts in connection with IFRS 15. The
bank has not capitalized any expenses related to long-term contracts with customers which are covered by IFRS 15. Fee
expenses are expensed as the services are received.

in € million | 2025 | 2024
Clearing, settlement and payment services | 952 | 954
Loan and guarantee business | 235 | 217
Securities | 96 | 138
Asset management | 328 | 299
Custody and fiduciary business | 119 | 91
Customer resources distributed but not managed | 68 | 65
Foreign exchange business | 897 | 789
Other | 36 | 84
Total | 2,731 | 2,638

Net fee and commission income rose by € 93 million to € 2,731 million. Growth was achieved in most countries of the Group,
with highest increases in Romania, Hungary and the Czech Republic, while Russia recorded a decrease of € 64 million.
Net fee and commission income includes income and expenses of € 1,956 million (previous year: € 1,848 million) relating to
financial assets and financial liabilities that are not measured at fair value through profit or loss.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
386 Consolidated financial statements

2025 | Central Europe | Southeastern Europe | Eastern Europe | Ukraine | Group Corporates & Markets | Corporate Center | Reconciliation | Total
in € million
Fee and commission income | 980 | 807 | 861 | 183 | 923 | 135 | (122) | 3,767
Clearing, settlement and payment services | 453 | 485 | 186 | 144 | 210 | 102 | (85) | 1,495
Clearing and settlement | 46 | 60 | 107 | 96 | 0 | 21 | (12) | 318
Credit cards | 65 | 55 | 6 | 3 | 78 | 17 | (8) | 216
Debit cards and other card payments | 78 | 165 | 41 | 36 | 0 | 23 | (21) | 323
Other payment services | 264 | 205 | 31 | 9 | 132 | 41 | (44) | 638
Loan and guarantee business | 63 | 47 | 22 | 6 | 127 | 12 | (4) | 273
Securities | 37 | 5 | 21 | 1 | 93 | 10 | (16) | 150
Asset management | 53 | 34 | 29 | 0 | 371 | 0 | 0 | 487
Custody and fiduciary business | 57 | 8 | 43 | 1 | 40 | 4 | (9) | 144
Customer resources distributed but not managed | 51 | 49 | 13 | 4 | 0 | 0 | 0 | 118
Foreign exchange business | 231 | 167 | 471 | 27 | 67 | 7 | (5) | 965
Other | 37 | 11 | 75 | 0 | 15 | 0 | (3) | 136
Fee and commission expenses | (277) | (233) | (131) | (118) | (323) | (75) | 123 | (1,036)
Total | 703 | 574 | 729 | 65 | 600 | 60 | 1 | 2,731

2024 | Central Europe | Southeastern Europe | Eastern Europe | Ukraine | Group Corporates & Markets | Corporate Center | Reconciliation | Total
in € million
Fee and commission income | 862 | 724 | 957 | 192 | 933 | 142 | (131) | 3,680
Clearing, settlement and payment services | 411 | 441 | 292 | 146 | 201 | 99 | (91) | 1,499
Clearing and settlement | 49 | 54 | 183 | 93 | 0 | 25 | (15) | 388
Credit cards | 60 | 54 | 10 | 2 | 62 | 8 | 0 | 196
Debit cards and other card payments | 69 | 134 | 62 | 41 | 0 | 42 | (38) | 310
Other payment services | 234 | 198 | 37 | 10 | 139 | 24 | (38) | 604
Loan and guarantee business | 58 | 44 | 21 | 5 | 121 | 13 | (6) | 257
Securities | 46 | 4 | 56 | 1 | 118 | 15 | (19) | 221
Asset management | 34 | 30 | 31 | 0 | 365 | 0 | 0 | 460
Custody and fiduciary business | 16 | 6 | 48 | 1 | 39 | 5 | (5) | 110
Customer resources distributed but not managed | 45 | 38 | 19 | 4 | 0 | 0 | 0 | 106
Foreign exchange business | 222 | 151 | 377 | 35 | 73 | 9 | (8) | 860
Other | 29 | 10 | 113 | 0 | 16 | 1 | (2) | 167
Fee and commission expenses | (240) | (217) | (164) | (125) | (344) | (66) | 115 | (1,042)
Total | 622 | 506 | 793 | 67 | 589 | 76 | (16) | 2,638

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 387
(5) Net trading income, fair value result and net gains/losses from hedge
accounting
Net trading income comprises the trading margins resulting from the foreign exchange business, results due to foreign
exchange revaluations and all realized and unrealized gains and losses from financial assets and liabilities at fair value.

in € million | 2025 | 2024
Net gains/losses on financial assets and liabilities - held for trading | 273 | (48)
Derivatives | 351 | 175
Equity instruments | 129 | 20
Debt securities | 32 | 46
Loans and advances | 7 | 10
Short positions | (1) | 0
Deposits | 201 | 34
Debt securities issued | (467) | (319)
Other financial liabilities | 20 | (13)
Net gains/losses on non-trading financial assets - mandatorily fair value through profit or loss | (21) | 18
Equity instruments | 2 | 1
Debt securities | (3) | 12
Loans and advances | (19) | 6
Net gains/losses on financial assets and liabilities - designated fair value through profit/loss | 3 | (8)
Debt securities | 0 | 0
Deposits | 1 | (1)
Debt securities issued | 1 | (7)
Exchange differences, net | (2) | 148
Total | 253 | 111

Net trading income and fair value result amounted to € 253 million in the reporting period (previous year: € 111 million). The
position Derivatives included in the trading result recorded a positive outcome of € 351 million, which represents an increase
compared to the previous year of € 176 million (previous year: € 175 million). Derivatives are primarily used to hedge against
interest rate and currency risks as well as risks from equity positions. The positive valuation results from derivatives were
achieved in part through hedges against currency and interest rate risks, while the majority resulted from derivatives on equity
instruments. Together with equity instruments, these form the hedge against value fluctuations of issued certificates, which
are mainly based on stocks and stock indices and to a lesser extent on interest products. The valuation result of these
certificates held in the trading book under securitized liabilities amounted to minus € 467 million in the reporting period
(previous year: minus € 319 million). This includes a negative valuation effect from the decline in the own credit spread
amounting to minus € 51 million. Adjusted for this effect, the certificate result essentially reflects the respective developments
of the underlying stocks and stock indices. The valuation result in the position deposits amounting to € 201 million (previous
year: € 34 million) mainly includes profit margins achieved from foreign exchange trading in Russia. Both high volatility in the
Russian foreign exchange markets caused by geopolitical conditions and increased transaction numbers and volumes
contributed to this development.
Gains from currency conversion of open spot positions amounted to minus € 2 million (previous year: € 148 million). Open
positions are managed by using foreign exchange derivatives and are largely closed. The opposing valuation effects of these
derivatives are accordingly reported in the item Derivatives.

in € million | 2025 | 2024
Fair value changes of the hedging instruments | 379 | 179
Fair value changes of the hedged items attributable to the hedged risk | (374) | (170)
Ineffectiveness of cash flow hedge recognized in profit or loss | 1 | 1
Total | 6 | 9

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
388 Consolidated financial statements
(6) Other net operating income
The other operating income contains other earnings components that arise in connection with the operating business activity.

in € million | 2025 | 2024
Gains/losses on derecognition of not modified financial assets and liabilities - not measured at fair value through profit/loss | 3 | (20)
Debt securities | 3 | (12)
Loans and advances | 5 | 5
Debt securities issued | (5) | (14)
Other financial liabilities | 0 | 0
Gains/losses on derecognition of non-financial assets held for sale | (1) | 1
Investment property | 1 | 0
Intangible fixed assets | (6) | (4)
Other assets | 5 | 5
Net income arising from non-banking activities | 14 | 12
Sales revenues from non-banking activities | 114 | 122
Expenses from non-banking activities | (100) | (111)
Net income from additional leasing services | 25 | 28
Revenues from additional leasing services | 52 | 48
Expenses from additional leasing services | (26) | (20)
Net income from insurance contracts | (2) | (5)
Net rental income from investment property incl. operating lease (real estate) | 70 | 66
Net rental income from investment property | 21 | 20
Income from rental real estate | 25 | 28
Expenses from rental real estate | (4) | (3)
Income from other operating lease | 36 | 27
Expenses from other operating lease | (8) | (5)
Net expense from allocation and release of other provisions | 12 | (29)
Other operating income/expenses | 30 | 31
Total | 151 | 84
Other operating income | 473 | 435
Other operating expenses | (321) | (351)

(7) General administrative expenses

in € million | 2025 | 2024
Staff expenses | (2,347) | (2,053)
Other administrative expenses | (1,282) | (1,261)
Depreciation of tangible and intangible fixed assets | (506) | (472)
Total | (4,134) | (3,786)

Staff expenses

in € million | 2025 | 2024
Wages and salaries | (1,787) | (1,579)
Social security costs and staff-related taxes | (413) | (361)
Other voluntary social expenses | (71) | (65)
Expenses for defined contribution pension plans | (19) | (16)
Expenses/income from defined benefit pension plans | (2) | (3)
Expenses for post-employment benefits | (12) | (11)
Expenses for other long-term employee benefits excl. bonus program | 1 | 3
Staff expenses from bonus program | (38) | (21)
Termination benefits | (6) | 0
Total | (2,347) | (2,053)

Staff expenses rose € 294 million to € 2,347 million. Increases occurred in almost all of the countries where the Group operates
as well as at head office. Russia recorded a rise of € 175 million due to salary adjustments and expenses for one-off payments
as well as currency developments.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 389
Expenses for severance payments and retirement benefits
Under defined contribution plans, the company pays fixed contributions into a separate entity (pension fund).

in € million | 2025 | 0.002024
Members of the management board and senior staff | (6) | (4)
Other employees | (28) | (27)
Total | (33) | (31)

Other administrative expenses

in € million | 2025 | 2024
Office space expenses | (114) | (108)
IT expenses | (443) | (423)
Legal, advisory and consulting expenses | (157) | (190)
Advertising, PR and promotional expenses | (128) | (122)
Communication expenses | (90) | (80)
Office supplies | (18) | (18)
Car expenses | (11) | (11)
Security expenses | (26) | (25)
Traveling expenses | (20) | (19)
Training expenses for staff | (20) | (20)
Other non-income related taxes | (132) | (100)
Sundry administrative expenses | (124) | (146)
Total | (1,282) | (1,261)
hereof expenses for short-term leases | (15) | (16)
hereof expenses for leases of low-value assets | (5) | (5)

Legal, advisory, and consulting expenses include fees for the auditors of RBI AG and its subsidiaries which comprise expenses
for the audit of financial statements amounting to € 8 million (previous year: € 8 million) as well as other additional consulting
services – mainly confirmation services - amounting to € 3 million (previous year: € 3 million). Thereof, € 3 million (previous year:
€ 3 million) related to the Group auditor for the audit of the financial statements and € 1 million (previous year: € 1 million)
related to other consulting services.
Depreciation of tangible and intangible fixed assets

in € million | 2025 | 2024
Tangible fixed assets | (244) | (235)
hereof right-of-use assets | (80) | (79)
Intangible fixed assets | (261) | (237)
Total | (506) | (472)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
390 Consolidated financial statements
(8) Other result

in € million | 2025 | 2024
Net modification gains/losses | (29) | (23)
Gains/losses from changes in present value of non-substantially modified contracts | (33) | (23)
Gains/losses from derecognition due to substantial modification of contract terms | 3 | 0
Impairment or reversal of impairment on investments in subsidiaries and associates | 21 | (50)
Impairment or reversal of impairment on non-financial assets | (5) | 7
Goodwill | 0 | 0
Other | (5) | 7
Result from non-current assets and disposal groups classified as held for sale and deconsolidation | 6 | (8)
Net income from non-current assets and disposal groups classified as held for sale | 6 | 4
Result of deconsolidations | 0 | (10)
Net expense from allocation and release of provisions for VAT interbank tax exemptions | 0 | (20)
Expenses for credit-linked, portfolio-based litigations and annulments | (302) | (657)
Expenses for legal disputes in Russia | (1,269) | 0
Net expense from allocation and release of provisions for a legal dispute in Russia | (339) | (840)
Total | (1,918) | (1,590)

The other result amounted to minus € 1,918 million in the reporting period, compared to minus € 1,590 million in the previous
year’s period. The main reason for this was the derecognition of the expected proceeds from the enforcement of RBI's claims
against the Austrian assets of Rasperia Trading Limited as well as interest expenses in connection with damages awarded to
Rasperia (€ 1,269 million) and the allocation to a provision in connection with the second Rasperia proceedings (€ 339 million). In
addition, credit-linked, portfolio-based litigation and annulments of loan agreements had a negative impact of € 302 million
(previous year’: € 657 million). These almost exclusively related to mortgage loans in Poland denominated in foreign currencies
or linked to a foreign currency. Losses on modified contract terms led to a result of minus € 29 million in the reporting period,
primarily in Slovakia (€ 13 million) and at head office (€ 8 million).
The item impairment or reversal of impairment on investments in subsidiaries and associates amounted to € 21 million
(previous year: minus € 50 million). Thereof, € 28 million (previous year: minus € 45 million) related to the valuation of
investments in companies valued at equity and minus € 7 million (previous year: minus € 4 million) to the impairment on
investments in subsidiaries. In the reporting period the largest individual effects resulted from the valuation of Prva stavebna
sporitelna a.s, Oesterreichische Kontrollbank Aktiengesellschaft and Leipnik-Lundenburger Invest Beteiligungs AG.
The result from non-current assets and disposal groups classified as held for sale and deconsolidation amounted to minus € 6
million in the reporting year. In total, 13 Group units were deconsolidated during the reporting period.
(9) Governmental measures and compulsory contributions

in € million | 2025 | 2024
Governmental measures | (178) | (113)
Bank levies | (178) | (113)
Compulsory contributions | (92) | (103)
Resolution fund | (10) | (15)
Deposit insurance fees | (82) | (87)
Other compulsory contributions | 0 | 0
Total | (270) | (216)

Bank levies increased € 65 million. This was mainly due to an increase of € 52 million at head office due to the increase in the
bank stability levy in Austria in the first quarter of 2025.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 391
(10) Impairment losses on financial assets
Impairment losses on financial assets consist of impairment losses on financial assets measured at fair value through other
comprehensive income and impairment losses on financial assets measured at amortized cost.

in € million | 2025 | 2024
Loans and advances | (109) | (238)
Debt securities | 4 | 88
Loan commitments, financial guarantees and other commitments given | (36) | 25
Total | (141) | (125)
hereof financial assets - fair value through other comprehensive income | (21) | (48)
hereof financial assets - amortized cost | (85) | (101)

Net provisioning for impairment losses on financial assets mainly related to the head office in an amount of € 157 million in the
reporting period (previous year: € 190 million), primarily relating to non-financial corporations in Stage 3. In Southeastern
Europe, net impairment losses of € 51 million (previous year: net € 19 million) were recognized, primarily in Romania. In Central
Europe, a lower net allocation of € 7 million was realized (previous year: net release of € 8 million). This was offset by net
releases in Russia (€ 51 million) and Ukraine (€ 48 million).
For defaulted loans (Stage 3), net impairments of € 247 million were recognized in the reporting period (previous year: net € 491
million), of which € 138 million related to non-financial corporations and € 123 million to households. At country level, the Stage
3 impairment losses were primarily incurred by head office (€ 103 million) and Russia (€ 76 million). In Stages 1 and 2, a net
release of € 106 million was recognized in the reporting period (previous year: net release of € 366 million), primarily in Russia.
Further details are shown under (13) Financial assets – amortized cost.
(11) Taxes
RBI AG as Group parent and 64 of its consolidated domestic subsidiaries are members of a tax group. Current taxes are
calculated based on taxable income for the current year taking into account the tax group (in terms of a tax group allocation).
The taxable income deviates from the profit/loss before tax of the consolidated statement of comprehensive income due to
expenses and income which are taxable or tax-deductible in future years or never. The liability of the Group for current taxes is
calculated based on the actual tax rate. Deferred taxes are calculated and recognized in accordance with IAS 12 applying the
liability method and based on the tax rates applicable in the future. Deferred taxes are based on all temporary differences
that result from comparing the carrying amounts of assets and liabilities in the IFRS accounts with the tax bases of assets and
liabilities, and which will reverse in the future. Deferred taxes are calculated by using tax rates applicable in the countries
concerned. A deferred tax asset should also be recognized on tax loss carry forwards if it is probable that sufficient taxable
profit will be generated in future periods against which the tax loss carry forwards can be utilized within the same entity.
On each reporting date, the carrying amount of the deferred tax assets is determined and the value determined is reduced if it
is unlikely that sufficient taxable income will be available in order to realize the tax assets partly or fully. Deferred tax assets
are offset against deferred tax liabilities for each subsidiary to the extent that offsetting is permitted. Income tax credits and
income tax obligations are recorded under the items current and deferred tax assets and current and deferred tax liabilities.
Current and deferred taxes are recognized in the income statement unless they are linked to items which are recognized in
other comprehensive income, in which case the current and deferred taxes are also directly recognized in other comprehensive
income. IFRIC 23 is to be applied to the determination of taxable profit (tax loss), tax bases, unused tax losses, unused tax
credits and tax rates when there is uncertainty over income tax treatments under IAS 12. RBI is required to use judgment to
determine whether each tax treatment should be considered independently or whether some tax treatments should be
considered together. If RBI concludes that it is not probable that a particular tax treatment is accepted, it must use the most
likely amount or the expected value of the tax treatment. Otherwise, it uses the tax treatment that is consistent with its
income tax filings. An entity has to reassess its judgments and estimates if facts and circumstances change.
Non-income related taxes are recognized in other administrative expenses when the Group unit identifies the obligating event
for the recognition of a liability in accordance with the relevant legislation. In practice this means either the liability is
recognized progressively when the obligating event occurs over a period or the obligation is triggered on reaching a minimum
threshold. The full liability is recognized when this minimum threshold is reached. Expenses for governmental measures and
compulsory contributions are shown separately in the item of the same name. This includes the bank levies, the resolution
fund, deposit insurance fees and other compulsory contributions (e.g. state borrowers’ support fund).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
392 Consolidated financial statements

in € million | 2025 | 0
Current income taxes | (994) | (953)
hereof Austria | (26) | (29)
hereof abroad | (968) | (924)
Deferred taxes | (19) | 0
Total | (1,013) | (953)
Effective tax rate | 38.4% | 31.9%

Reconciliation between profit/loss before tax and the effective tax burden:

in € million | 2025 | 2024
Profit/loss before tax | 2,634 | 2,984
Theoretical income tax expense in the financial year based on the domestic income tax rate of 23 per cent | (606) | (686)
Effect of divergent foreign tax rates | 134 | 182
Tax decrease because of tax-exempted income from equity participations and other income | 78 | 113
Tax increase because of non-deductible expenses | (552) | (405)
Impairment on loss carry forwards | (1) | (6)
Non-recognized taxes from net investment hedge | 3 | (9)
Non-recognized taxes from value changes on companies valued at equity | 6 | (10)
Tax expense/income from changes of the tax rate and windfall taxes | (74) | (131)
Other tax effects | (2) | (1)
Effective tax burden | (1,013) | (953)
Effective tax rate | 38.4% | 31.9%

The negative effect arising from non-deductible expenses mainly results from expenses incurred in connection with the
Rasperia proceedings in Russia, as well as non-deductible expenses related to credit-linked and portfolio-based litigation
provisions and annulments of loan agreements in Poland. The item tax expense/income from changes of the tax rate and
windfall taxes includes the tax effects from the return to a 25 per cent tax rate in Ukraine (previous year: 50 per cent) and the
increase of the tax rate to 25 per cent in Russia, as well as the tax disadvantages from the special tax in Slovakia and the
Czech Republic.
For the calculation of deferred tax assets and liabilities, the future tax rate corresponding to the expected realization times of
the temporary differences from deferred taxes was applied.
Information on current and open tax proceedings can be found under (45) Pending legal issues. Furthermore, there are no
material tax interpretations that would require disclosure within the meaning of IFRIC 23.
Tax assets

in € million | 2025 | 2024
Current tax assets | 124 | 130
Deferred tax assets | 167 | 216
Tax claims from temporary differences | 158 | 208
Loss carry forwards | 9 | 8
Total | 291 | 345

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 393
Net deferred taxes

in € million | 2025 | 2024
Financial assets - amortized cost | 94 | 84
Financial liabilities - amortized cost | 17 | 24
Financial liabilities - held for trading | 6 | 31
Derivatives – Hedge accounting incl. fair value adjustments | 62 | 56
Financial liabilities - designated fair value through profit/loss | 2 | 0
Provisions for liabilities and charges | 113 | 104
Investments in subsidiaries and associates | 11 | 12
Tangible fixed assets | 95 | 92
Other assets | 124 | 93
Loss carry forwards | 9 | 8
Other items of the statement of financial position | 18 | 26
Deferred tax assets | 551 | 531
Financial assets - held for trading | 30 | 45
Financial assets - amortized cost | 97 | 89
Financial liabilities - amortized cost | 56 | 63
Financial assets - fair value through other comprehensive income | 29 | 26
Financial assets and liabilities - designated fair value through profit/loss | 2 | 2
Investments in subsidiaries and associates | 5 | 5
Tangible fixed assets | 27 | 19
Intangible fixed assets | 72 | 71
Derivatives – Hedge accounting incl. fair value adjustments | 85 | 7
Provisions for liabilities and charges | 3 | 2
Other assets | 14 | 17
Other liabilities | 19 | 21
Other items of the statement of financial position | 4 | 2
Deferred tax liabilities | 442 | 369
Net deferred taxes | 109 | 162

In the consolidated financial statements, deferred tax assets are recognized for unused tax loss carry forwards which
amounted to € 9 million (previous year: € 8 million). The tax loss carry forwards are mainly without any time limit. The Group
did not recognize deferred tax assets from tax loss carry forwards of € 356 million (previous year: € 346 million) because from
a current point of view there is no prospect of realizing them within a reasonable period.
Tax liabilities

in € million | 2025 | 2024
Current tax liabilities | 144 | 217
Deferred tax liabilities | 58 | 53
Temporary tax obligation | 58 | 53
Total | 202 | 271

The global minimum tax for corporate groups (MindBestG) introduced as of January 1, 2024, at a rate of 15 per cent resulted in
an additional tax expense of € 8 million. In most countries where RBI operates, the Safe Harbour Rules are met, except for
Bosnia and Herzegovina, Kosovo, and Serbia. RBI has applied the temporary mandatory exception published by the IASB in May
2023 related to the international tax reform. This exception applies to accounting requirements for deferred taxes according
to IAS 12. Respectively, RBI does not consider income taxes related to the OECD Pillar 2 model rules in the calculation and
presentation of deferred tax assets and liabilities.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
394 Consolidated financial statements
Financial assets measured at amortized cost
(12) Cash, balances at central banks and other demand deposits
This item on the statement of financial position includes cash in hand, balances at central banks that are due on call, and
demand deposits at banks that are due on call.

in € million | 2025 | 2024
Cash in hand | 3,287 | 3,338
Balances at central banks | 21,931 | 18,486
Other demand deposits at banks | 10,122 | 13,047
Total | 35,340 | 34,871

In the position cash, balances with central banks, and other demand deposits, there was an increase compared to the year end
by € 469 million to € 35,340 million. The increase in balance with central banks (increase: € 3,455 million) was mainly due to
Russia, as a result of the reallocation from short-term investments with central banks to daily callable deposits with the
Russian central bank (increase: € 7,544 million). This was offset by decreases in other demand deposits (decrease: € 2,925
million) and cash on hand (decrease: € 51 million). The increase in Russia was mitigated by the withholding of compensation
awarded to Rasperia Trading Limited amounting to € 2,109 million (including interest). The withholding took place in the second
quarter of 2025 by debiting the correspondent account of AO Raiffeisenbank at the Russian central bank. The decrease in other
demand deposits at banks resulted from declines at head office (decrease: € 2,887 million).
Under the item ca sh in hand, Ukraine and Russia reported a total of € 922 million. Cash balances in Russia decreased by € 372
million compared to the previous year.
At the reporting date, cash and cash equivalents amounting to € 770 million (previous year: € 797 million) were reported, which
are subject to legal restrictions according to IAS 7.48, meaning that RBI cannot access these funds. Of this amount, € 713 million
was attributed to Russia and Ukraine.
(13) Financial assets – amortized cost
In RBI, a financial asset is measured at amortized cost (AC) if both of the following conditions are met:
· The asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows.
· The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.
These conditions are explained in more detail in the sections business model assessment, analysis of contractual cash flow
characteristics, and modification of the time value of money and the benchmark test.
Loans and advances to customers and banks are particularly assigned to this category. Loans and advances relating to
finance lease business, which are recognized in accordance with IFRS 16, and securities which meet the above conditions, are
also shown in this measurement category. They are measured at amortized cost. If there is a difference between the amount
paid and face value – and this has an interest character – the effective interest method is used, and the amount is stated
under net interest income. Interest income is calculated on the basis of the gross carrying amount provided the financial asset
is not impaired. As soon as the financial asset is impaired, interest income is calculated based on the net carrying amount. The
amortized cost is also adjusted by the expected loss recognized, using the expected loss approach in accordance with IFRS 9,
as outlined in the section impairment general (IFRS 9). The effective interest rate method is a method of calculating the
amortized cost of a financial instrument and allocating interest expenses and interest income to the relevant periods. The
effective interest rate is the interest rate applied to discount the forecast future cash inflows and outflows (including all fees
which form part of the effective interest rate, transaction costs and other premiums and discounts) over the expected term of
the financial instrument or a shorter period, where applicable, to arrive at the net carrying amount from initial recognition.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 395

| 2025 | 2024
in € million | Gross carrying amount | Accumulated impairment | Carrying amount | Gross carrying amount | Accumulated impairment | Carrying amount
Debt securities | 38,176 | (26) | 38,150 | 30,836 | (53) | 30,783
Central banks | 5 | 0 | 5 | 5 | 0 | 5
General governments | 32,015 | (20) | 31,995 | 25,726 | (47) | 25,678
Banks | 3,872 | 0 | 3,872 | 3,455 | (1) | 3,455
Other financial corporations | 1,400 | (1) | 1,399 | 967 | (1) | 966
Non-financial corporations | 885 | (5) | 880 | 683 | (4) | 679
Loans and advances | 119,563 | (2,205) | 117,358 | 119,676 | (2,758) | 116,919
Central banks | 8,431 | 0 | 8,431 | 13,784 | (1) | 13,783
General governments | 3,917 | (9) | 3,909 | 3,816 | (9) | 3,807
Banks | 4,251 | (2) | 4,249 | 4,274 | (2) | 4,272
Other financial corporations | 10,020 | (52) | 9,968 | 10,526 | (169) | 10,356
Non-financial corporations | 48,514 | (1,194) | 47,320 | 46,713 | (1,607) | 45,106
Households | 44,430 | (948) | 43,482 | 40,564 | (970) | 39,594
Total | 157,739 | (2,231) | 155,508 | 150,512 | (2,810) | 147,701

The carrying amount of the item financial assets – amortized cost increased € 7,807 million compared to year-end 2024.
The increase in debt securities of € 7,367 million resulted predominantly from purchases of government bonds (up
€ 6,317 million), mainly at head office (up € 2,265 million), in the Czech Republic (up € 1,485 million) and in Slovakia (up € 731
million). The lending business showed an increase of € 440 million. The increase in loans to households (up € 3,888 million) came
mainly from the Czech Republic and from Slovakia (up € 1,455 million and € 950 million, especially from mortgage loans), with
other countries in the Group also reporting an increase, with the exception of Russia and Poland. Loans to non-financial
corporations increased € 2,214 million. The increase was achieved in almost all countries in the Group, mainly in Slovakia (up
€ 594 million), in the Czech Republic (up € 441 million) and in Hungary (up € 423 million) as well as at the head office (up € 656
million), whereby there was a decrease in Russia of € 590 million. The decrease in short-term business of € 5,662 million
resulted predominantly from Russia (down € 5,121 million), due to reallocation of short-term placements in central bank
deposits into overnight deposits (balances at central banks).
There are financial assets – amortized cost of € 1,779 million (previous year: € 901 million) in Russia from payments by issuers of
local debt instruments that cannot currently be passed on to foreign investors due to existing US and EU sanctions and are
therefore deposited with the Russian Deposit Insurance Agency. They are not available for general use by head office.
RBI’s credit portfolio is well diversified in terms of type of customer, geographical region, and industry. The following tables
show the financial assets – amortized cost, by counterparty. This reveals RBI's focus on non-financial corporations and
households.
Gross carrying amount

| 2025 | 2024
in € million | Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central banks | 8,315 | 120 | 0 | 0 | 13,668 | 120 | 0 | 0
General governments | 33,589 | 2,199 | 144 | 0 | 27,985 | 1,395 | 163 | 0
Banks | 7,857 | 265 | 1 | 0 | 7,257 | 472 | 1 | 0
Other financial corporations | 10,329 | 965 | 120 | 6 | 9,478 | 1,681 | 290 | 44
Non-financial corporations | 39,590 | 7,957 | 1,775 | 76 | 37,937 | 7,241 | 2,118 | 100
Households | 38,276 | 5,034 | 1,025 | 94 | 33,396 | 6,068 | 1,000 | 100
hereof mortgage | 25,514 | 3,167 | 342 | 55 | 22,490 | 4,111 | 347 | 60
Total | 137,958 | 16,540 | 3,066 | 176 | 129,720 | 16,977 | 3,571 | 244

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
396 Consolidated financial statements
Accumulated impairment

| 2025 | 2024
in € million | Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central banks | 0 | 0 | 0 | 0 | (1) | 0 | 0 | 0
General governments | (18) | (5) | (6) | 0 | (40) | (10) | (7) | 0
Banks | (1) | (1) | (1) | 0 | (1) | (1) | (1) | 0
Other financial corporations | (9) | (8) | (32) | (4) | (11) | (22) | (119) | (17)
Non-financial corporations | (135) | (246) | (775) | (42) | (194) | (266) | (1,108) | (42)
Households | (114) | (203) | (612) | (19) | (106) | (227) | (615) | (22)
hereof mortgage | (17) | (67) | (134) | (11) | (18) | (82) | (156) | (13)
Total | (278) | (463) | (1,426) | (65) | (353) | (527) | (1,850) | (81)

ECL coverage ratio

| 2025 | 2024
| Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central banks | 0.0% | 0.0% | - | - | 0.0% | 0.0% | - | -
General governments | 0.1% | 0.2% | 4.0% | 1.5% | 0.1% | 0.7% | 4.2% | 2.2%
Banks | 0.0% | 0.3% | 77.4% | - | 0.0% | 0.2% | 72.3% | -
Other financial corporations | 0.1% | 0.8% | 26.7% | 70.1% | 0.1% | 1.3% | 41.1% | 39.6%
Non-financial corporations | 0.3% | 3.1% | 43.7% | 55.0% | 0.5% | 3.7% | 52.3% | 41.6%
Households | 0.3% | 4.0% | 59.7% | 19.9% | 0.3% | 3.7% | 61.5% | 21.8%
hereof mortgage | 0.1% | 2.1% | 39.2% | 20.0% | 0.1% | 2.0% | 45.1% | 21.0%
Total | 0.2% | 2.8% | 46.5% | 36.8% | 0.3% | 3.1% | 51.8% | 33.1%

The following breakdown of financial assets – amortized cost by region shows the high level of diversification of RBI’s credit
business in the European markets:
Gross carrying amount

| 2025 | 2024
in € million | Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central Europe | 58,208 | 6,189 | 673 | 65 | 51,058 | 5,756 | 748 | 60
hereof Czech Republic | 30,598 | 3,128 | 247 | 34 | 26,763 | 3,140 | 240 | 31
hereof Hungary | 7,554 | 1,337 | 78 | 10 | 6,292 | 1,264 | 130 | 10
hereof Slovakia | 19,487 | 1,597 | 266 | 11 | 17,374 | 1,218 | 258 | 8
Southeastern Europe | 27,788 | 3,104 | 559 | 92 | 25,969 | 2,621 | 569 | 97
hereof Romania | 11,659 | 1,649 | 232 | 35 | 11,606 | 1,190 | 230 | 40
Eastern Europe | 3,767 | 2,551 | 223 | 3 | 10,269 | 1,909 | 226 | 25
hereof Russia | 3,767 | 2,551 | 223 | 3 | 10,269 | 1,909 | 226 | 25
Ukraine | 2,166 | 279 | 139 | 9 | 2,004 | 576 | 199 | 12
Austria and other 1 | 46,029 | 4,418 | 1,472 | 7 | 40,421 | 6,114 | 1,829 | 50
Total | 137,958 | 16,540 | 3,066 | 176 | 129,720 | 16,977 | 3,571 | 244
1 Austria mainly includes the business of the head office and Raiffeisen Bausparkasse Gesellschaft m.b.H. Other also includes any consolidation effects.

Accumulated impairment

| 2025 | 2024
in € million | Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central Europe | (90) | (189) | (391) | (14) | (111) | (182) | (418) | (12)
hereof Czech Republic | (30) | (56) | (134) | 4 | (35) | (65) | (120) | 4
hereof Hungary | (23) | (70) | (31) | (4) | (25) | (62) | (49) | (4)
hereof Slovakia | (36) | (53) | (155) | (7) | (50) | (45) | (153) | (4)
Southeastern Europe | (88) | (130) | (360) | (41) | (102) | (124) | (371) | (40)
hereof Romania | (40) | (52) | (140) | (11) | (50) | (39) | (148) | (12)
Eastern Europe | (6) | (20) | (172) | 0 | (9) | (118) | (175) | (2)
hereof Russia | (6) | (20) | (172) | 0 | (9) | (118) | (175) | (2)
Ukraine | (56) | (23) | (115) | (4) | (97) | (52) | (163) | (5)
Austria and other 1 | (38) | (102) | (388) | (6) | (34) | (50) | (722) | (22)
Total | (278) | (463) | (1,426) | (65) | (353) | (527) | (1,850) | (81)
1 Austria mainly includes the business of the head office and Raiffeisen Bausparkasse Gesellschaft m.b.H. Other also includes any consolidation effects.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 397
ECL coverage ratio

| 2025 | 2024
| Stage 1 | Stage 2 | Stage 3 | POCI | Stage 1 | Stage 2 | Stage 3 | POCI
Central Europe | 0.2% | 3.1% | 58.1% | 21.3% | 0.2% | 3.2% | 55.9% | 20.3%
hereof Czech Republic | 0.1% | 1.8% | 54.2% | - | 0.1% | 2.1% | 50.1% | -
hereof Hungary | 0.3% | 5.3% | 39.7% | 39.7% | 0.4% | 4.9% | 37.7% | 38.5%
hereof Slovakia | 0.2% | 3.4% | 58.1% | 64.2% | 0.3% | 3.7% | 59.2% | 53.9%
Southeastern Europe | 0.3% | 4.2% | 64.4% | 44.5% | 0.4% | 4.7% | 65.1% | 40.8%
hereof Romania | 0.3% | 3.1% | 60.3% | 31.3% | 0.4% | 3.3% | 64.3% | 29.0%
Eastern Europe | 0.2% | 0.8% | 77.2% | 18.6% | 0.1% | 6.2% | 77.4% | 8.1%
hereof Russia | 0.2% | 0.8% | 77.2% | 18.6% | 0.1% | 6.2% | 77.4% | 8.1%
Ukraine | 2.6% | 8.2% | 82.5% | 42.4% | 4.8% | 9.0% | 82.3% | 44.0%
Austria and other 1 | 0.1% | 2.3% | 26.4% | 77.0% | 0.1% | 0.8% | 39.5% | 43.9%
Total | 0.2% | 2.8% | 46.5% | 36.8% | 0.3% | 3.1% | 51.8% | 33.1%
1 Austria mainly includes the business of the head office and Raiffeisen Bausparkasse Gesellschaft m.b.H. Other also includes any consolidation effects.

Stage 1 amounts include assets of € 30,549 million (previous year: € 23,801 million), for which the low credit risk exemption has
been used, of which € 27,961 million (previous year: € 22,269 million) are accounted for as financial assets – amortized cost and
€ 2,588 million (previous year: € 1,531 million) as financial assets - fair value through other comprehensive income.
RBI has loans and advances (financial assets – amortized cost) in the amount of € 2,341 million (previous year: € 2,199 million)
and reverse repo business in the amount of € 11,347 million (previous year: € 10,941 million) with no expected credit losses due
to collateral.
Development of impairments
Development of impairments on loans and bonds in the measurement categories of financial assets – amortized cost, financial
assets – fair value through other comprehensive income and other demand deposits at banks:

| Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
As at 1/1/2025 | 407 | 529 | 1,854 | 81 | 2,871
Increases due to origination and acquisition | 290 | 63 | 14 | 0 | 367
Decreases due to derecognition | (92) | (81) | (397) | (8) | (579)
Changes due to change in credit risk (net) | (241) | (83) | 394 | (4) | 66
Changes due to modifications without derecognition (net) | 0 | 0 | (3) | 0 | (3)
Decrease due to write-offs | 0 | (1) | (449) | (4) | (454)
Changes due to model/risk parameters | 0 | 0 | 0 | 0 | 0
Change in consolidated group | 0 | 0 | 0 | 0 | 0
Foreign exchange and other | (21) | 37 | 16 | 1 | 33
As at 31/12/2025 | 342 | 464 | 1,430 | 65 | 2,301
hereof fair value through other comprehensive income | 65 | 1 | 4 | 0 | 70
hereof other demand deposits at banks | 0 | 0 | 0 | 0 | 0

| Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
As at 1/1/2024 | 372 | 978 | 1,673 | 107 | 3,130
Increases due to origination and acquisition | 308 | 127 | 15 | 0 | 450
Decreases due to derecognition | (115) | (268) | (273) | (36) | (692)
Changes due to change in credit risk (net) | (129) | (275) | 710 | 14 | 320
Changes due to modifications without derecognition (net) | 0 | 0 | 2 | 0 | 2
Decrease due to write-offs | (1) | (2) | (241) | (7) | (251)
Changes due to model/risk parameters | (1) | (1) | 0 | 0 | (2)
Change in consolidated group | (2) | (35) | (19) | 0 | (56)
Foreign exchange and other | (25) | 5 | (13) | 3 | (30)
As at 31/12/2024 | 407 | 529 | 1,854 | 81 | 2,871
hereof fair value through other comprehensive income | 54 | 3 | 3 | 0 | 59
hereof other demand deposits at banks | 0 | 0 | 1 | 0 | 1

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
398 Consolidated financial statements
Carrying amounts of financial assets – amortized cost by rating categories and stages
The credit quality analysis of financial assets is a point in time assessment of the probability of default of the assets.
· Excellent are exposures which demonstrate a strong capacity to meet financial commitments, with negligible or no
probability of default (non-retail PD range >0.0000 ≤ 0.0300 per cent and retail PD range >0.00 ≤ 0.17 per cent).
· Strong are exposures which demonstrate a strong capacity to meet financial commitments, with negligible or low
probability of default (non-retail PD range >0.0300 ≤ 0.1878 per cent and retail PD range >0.17 ≤ 0.35 per cent).
· Good are exposures which demonstrate a good capacity to meet financial commitments, with low default risk (non-
retail PD range >0.1878 ≤ 1.1735 per cent and retail PD range >0.35 ≤ 1.37 cent).
· Satisfactory are exposures which require closer monitoring and demonstrate an average to fair capacity to meet
financial commitments, with moderate default risk (non-retail PD range >1.1735 ≤ 7.3344 per cent and retail PD range
>1.37 ≤ 7.28 per cent).
· Substandard are exposures which require varying degrees of special attention and default risk is of greater concern
(non-retail PD range >7.3344 < 100.0 per cent and retail PD range >7.28 < 100.0 per cent).
· Credit-impaired are exposures which have been assessed as impaired (PD range 100.0 per cent for both non-retail
and retail).
The following table shows the connection between the rating categories and stages according to IFRS 9. It should be noted
that for financial assets in Stages 1 and 2, due to the relative nature of a significant increase in credit risk, it is not necessarily
the case that Stage 2 assets have a lower credit rating than Stage 1 assets, although this is normally the case.

2025 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
Excellent | 25,021 | 210 | 0 | 0 | 25,231
Strong | 42,135 | 2,043 | 0 | 1 | 44,178
Good | 49,592 | 4,548 | 0 | 5 | 54,145
Satisfactory | 17,658 | 5,586 | 0 | 15 | 23,259
Substandard | 1,740 | 2,131 | 0 | 9 | 3,880
Credit impaired | 0 | 0 | 2,965 | 132 | 3,097
Not rated | 1,812 | 2,023 | 101 | 13 | 3,949
Gross carrying amount | 137,958 | 16,540 | 3,066 | 176 | 157,739
Accumulated impairment | (278) | (463) | (1,426) | (65) | (2,231)
Carrying amount | 137,680 | 16,077 | 1,640 | 111 | 155,508

2024 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
Excellent | 20,556 | 905 | 0 | 0 | 21,462
Strong | 40,918 | 2,385 | 0 | 2 | 43,304
Good | 43,015 | 4,711 | 0 | 6 | 47,732
Satisfactory | 20,880 | 5,462 | 0 | 12 | 26,355
Substandard | 1,710 | 2,287 | 0 | 10 | 4,006
Credit impaired | 0 | 0 | 3,483 | 196 | 3,679
Not rated | 2,643 | 1,226 | 88 | 17 | 3,974
Gross carrying amount | 129,720 | 16,977 | 3,571 | 244 | 150,512
Accumulated impairment | (353) | (527) | (1,850) | (81) | (2,810)
Carrying amount | 129,367 | 16,450 | 1,721 | 163 | 147,701

The category not rated mainly includes financial assets for households (predominantly in Serbia and Croatia), for whom no
ratings are available. The rating is therefore based on qualitative factors.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 399
(14) Modified assets
If a financial asset is modified, RBI distinguishes between substantial and non-substantial modifications of financial assets. In
RBI, terms are substantially modified if the discounted present value of the cash flows under the new terms using the original
effective interest rate differs by at least 10 per cent from the discounted present value of the remaining cash flows of the
original financial asset (present value test). In addition to the present value test further quantitative and qualitative criteria are
considered to assess whether a substantial modification applies. The other quantitative criteria primarily consider the
extension of the average remaining term. Stage 3 loans are often restructured to match the maximum expected payments
from the customer. If this is the case, then additional judgement is required to determine whether the contractual change is a
new instrument in economic terms. RBI has defined qualitative criteria for a significant change in the terms of the contract as
a change in the underlying currency and also the introduction of clauses that would normally cause the contractual cash flow
criteria according to IFRS 9 to fail, or a change in the type of instrument (e.g. a bond is converted to a loan).
If the modifications are substantial, the existing asset is derecognized, and a new financial instrument is recognized at its fair
value (including new classification and new stage allocation for impairment purposes). Non-substantial modifications do not
lead to derecognition, but to an adjustment to the gross carrying amount through profit and loss.
Due to the ongoing negative economic environment, there was a slight increase in the net modification effects in the reporting
year 2025. It increased year-on-year to minus € 33 million. Essentially, loans from Slovakia, Austria and Hungary were affected.

2025 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million
Net modifications gains/losses of financial assets | (26) | (4) | (3) | 0 | (33)
Amortized cost before the modification of financial assets | 1,199 | 328 | 327 | 2 | 1,856
Gross carrying amount of modified assets as at 31/12, which moved to Stage 1 during the year | 0 | 19 | 0 | 0 | 19

2024 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million
Net modifications gains/losses of financial assets | (12) | (6) | (4) | (1) | (23)
Amortized cost before the modification of financial assets | 1,634 | 392 | 115 | (4) | 2,138
Gross carrying amount of modified assets as at 31/12, which moved to Stage 1 during the year | 0 | 16 | 0 | 0 | 16

(15) Financial liabilities - amortized cost
Liabilities are predominantly recognized at amortized cost. For differences between the amount paid and face value, the
effective interest method is applied, and the amounts are shown in net interest income. This category mainly includes
customer deposits and securities issues for refinancing purposes.
Issued subordinated capital and supplementary capital are shown either in financial liabilities – amortized cost or financial
liabilities – designated fair value through profit/loss. Securitized and non-securitized assets are subordinated if, in the event of
liquidation or bankruptcy, they can only be met after the claims of the other – not subordinated – creditors have been
satisfied. Supplementary capital is defined according to Article 63 of the regulation (EU) No 575/2013 (CRR). Corresponding
instruments have an original maturity of at least five years, are of subordinate nature and are, among others, not allowed to
contain an incentive to early redeem, a right of the investor to accelerate repayment or credit standing linked features that
amend the level of dividend and/or interest payments of the issuer.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
400 Consolidated financial statements

in € million | 2025 | 2024
Deposits from banks | 20,660 | 22,999
Current accounts/overnight deposits | 12,668 | 12,680
Deposits with agreed maturity | 6,542 | 7,310
Repurchase agreements | 1,450 | 3,009
Deposits from customers | 127,551 | 117,693
Current accounts/overnight deposits | 88,481 | 80,467
Deposits with agreed maturity | 37,629 | 35,703
Repurchase agreements | 1,441 | 1,524
Debt securities issued | 21,088 | 21,002
Covered bonds | 6,169 | 4,912
Hybrid contracts | 732 | 514
Other debt securities issued | 14,188 | 15,576
hereof convertible compound financial instruments | 814 | 2,360
hereof non-convertible | 13,374 | 13,215
Other financial liabilities | 1,288 | 1,622
Total | 170,588 | 163,316
hereof subordinated financial liabilities | 2,110 | 2,261
hereof lease liabilities | 363 | 364

The position deposits from banks - deposits with agreed maturity decreased mainly in head office by € 762 million. Repurchase
agreements also decreased by € 1,609 million, primarily driven by head office.
Current accounts/overnight deposits from customers increased especially in Czech Republic (increase: € 5,020 million). Main
contributor were deposits from households. Deposits with agreed maturity increased by € 858 million in Hungary and by € 604
million in Slovakia.
Covered bonds increased in Slovakia (increase: € 1,052 million) due to new own issuances. In contrast, other debt securities
issued decreased in head office by € 912 million due to maturity of various issuances and in Slovakia by € 313 million due to
cancellation of a bond prior maturity.
Other financial liabilities increased mainly in Russia due to suspense and transit items (increase: € 310 million).
Deposits from banks and customers by asset classes:

in € million | 2025 | 2024
Central banks | 419 | 391
General governments | 3,755 | 3,104
Banks | 20,241 | 22,607
Other financial corporations | 11,978 | 11,403
Non-financial corporations | 46,163 | 43,833
Households | 65,656 | 59,353
Total | 148,212 | 140,692

Liabilities against households increased mainly in Czech Republic (increase: € 3,708 million), Slovakia (increase: € 739 million) and
Romania (increase: € 598 million).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 401
Principal debt securities issued:

Issuer | ISIN | Type | Currency | Nominal value in € million | Coupon | Due | Call redemption date
RBI AG | XS2579606927 | Senior public placements | EUR | 1,000 | 4.8% | 26/01/2026 | 26/01/2026
RBI AG | AT000B015714 | Senior private placements | EUR | 800 | 3.9% | 17/04/2029 | No
RBI AG | XS2055627538 | Senior public placements | EUR | 750 | 0.4% | 25/09/2026 | No
TBSK | SK4000026043 | senior public placements | EUR | 600 | 2.8% | 09/10/2028 | No
TBSK | SK4000027389 | senior public placements | EUR | 600 | 2.8% | 27/05/2030 | No
RBI AG | XS2596528716 | Senior public placements | EUR | 500 | 3.9% | 16/03/2026 | No
RBI AG | XS2537097409 | Senior public placements | EUR | 500 | 2.9% | 28/09/2026 | No
RBI AG | XS2481491160 | Senior public placements | EUR | 500 | 1.5% | 24/05/2027 | No
RBI AG | XS2626022656 | Senior public placements | EUR | 500 | 3.4% | 27/09/2027 | No
RBI AG | XS2435783613 | Senior public placements | EUR | 500 | 0.1% | 26/01/2028 | No
RBI AG | XS2547936984 | Senior public placements | EUR | 500 | 5.8% | 27/01/2028 | No
RBI AG | XS2682093526 | Senior public placements | EUR | 500 | 6.0% | 15/09/2028 | 15/09/2027
RBI AG | XS2765027193 | Senior public placements | EUR | 500 | 4.6% | 21/08/2029 | 21/08/2028
RBI AG | XS2086861437 | Senior public placements | EUR | 500 | 0.1% | 03/12/2029 | No
RBI AG | XS2893858352 | Senior public placements | EUR | 500 | 3.9% | 03/01/2030 | 03/01/2029
RBI AG | XS2826609971 | Senior public placements | EUR | 500 | 4.5% | 31/05/2030 | 31/05/2029
RBI AG | XS3166786619 | Senior public placements | EUR | 500 | 3.5% | 27/08/2031 | 27/08/2030
TBSK | SK4000027918 | senior public placements | EUR | 500 | 2.9% | 11/09/2031 | No
RBI AG | XS3004031822 | Senior public placements | EUR | 500 | 3.5% | 18/02/2032 | 18/02/2031
RBI AG | XS2189786226 | Subordinated | EUR | 500 | 2.9% | 18/06/2032 | 18/06/2027
RBI AG | XS2534786590 | Subordinated | EUR | 500 | 7.4% | 20/12/2032 | 20/09/2027
RBI AG | XS2353473692 | Subordinated | EUR | 500 | 1.4% | 17/06/2033 | 17/03/2028
RBI AG | XS3227928911 | Senior public placements | EUR | 500 | 3.6% | 13/11/2033 | 13/11/2032
RBI AG | XS2904849879 | Subordinated | EUR | 500 | 5.3% | 02/01/2035 | 02/10/2029

In the reporting period, expenses for subordinated liabilities amounted to € 91 million (previous year: € 77 million).
Development of subordinated financial liabilities in the measurement categories of amortized cost and designated at fair
value through profit/loss:

in € million |
Carrying amount as at 1/1/2024 | 2,167
Change in carrying amount | 94
hereof cash | 44
hereof effect of exchange rate changes | (1)
hereof changes of fair value | 51
Carrying amount as at 31/12/2024 | 2,261
Change in carrying amount | (151)
hereof cash | (194)
hereof effect of exchange rate changes | 5
hereof changes of fair value | 38
Carrying amount as at 31/12/2025 | 2,110

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
402 Consolidated financial statements
(16) Fair value of financial instruments not reported at fair value
For the following instruments, the fair value is calculated only for the purposes of providing information in the notes and has
no impact on the consolidated statement of financial position or on the consolidated income statement. A simplified fair value
calculation method for loans and advances is applied for all short-term transactions (transactions with maturities up to three
months). The fair value of these short-term transactions will be equal to the carrying amount of the product. For the other
transactions, the methodology as described in the section entitled Fair value of financial instruments reported at fair value is
applied.

2025 |  |  |  |  |  |
in € million | Level I | Level II | Level III | Fair value | Carrying amount | Difference
Assets |  |  |  |  |  |
Cash, balances at central banks and other demand deposits | 0 | 35,340 | 0 | 35,340 | 35,340 | 0
Financial assets - amortized cost | 33,449 | 1,947 | 119,632 | 155,028 | 155,508 | (481)
Debt securities | 33,449 | 1,947 | 2,631 | 38,026 | 38,150 | (124)
Loans and advances | 0 | 0 | 117,002 | 117,002 | 117,358 | (356)
Equity and liabilities |  |  |  |  |  |
Financial liabilities - amortized cost | 1,145 | 18,952 | 150,990 | 171,086 | 170,225 | 861
Deposits from banks and customers¹ | 0 | 0 | 148,328 | 148,328 | 147,849 | 479
Debt securities issued | 1,145 | 18,952 | 1,375 | 21,471 | 21,088 | 382
Other financial liabilities | 0 | 0 | 1,288 | 1,288 | 1,288 | 0
1 Not including lease liabilities in accordance with IFRS 7 Level I Quoted market prices Level II Valuation techniques based on market data Level III Valuation techniques not based on market data

2024 |  |  |  |  |  |
in € million | Level I | Level II | Level III | Fair value | Carrying amount | Difference
Assets |  |  |  |  |  |
Cash, balances at central banks and other demand deposits | 0 | 34,871 | 0 | 34,871 | 34,871 | 0
Financial assets - amortized cost | 26,579 | 1,931 | 118,021 | 146,530 | 147,701 | (1,171)
Debt securities | 26,579 | 1,931 | 1,964 | 30,473 | 30,783 | (310)
Loans and advances | 0 | 0 | 116,057 | 116,057 | 116,919 | (862)
Equity and liabilities |  |  |  |  |  |
Financial liabilities - amortized cost | 854 | 18,482 | 143,025 | 162,361 | 162,951 | (590)
Deposits from banks and customers¹ | 0 | 0 | 139,439 | 139,439 | 140,328 | (889)
Debt securities issued | 854 | 18,482 | 1,964 | 21,301 | 21,002 | 298
Other financial liabilities | 0 | 0 | 1,622 | 1,622 | 1,622 | 0
1 Not including lease liabilities in accordance with IFRS 7 Level I Quoted market prices Level II Valuation techniques based on market data Level III Valuation techniques not based on market data

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 403
Financial assets measured at fair value
(17) Financial assets – fair value through other comprehensive income
In RBI, a debt instrument is measured at fair value through other comprehensive income if both of the following conditions are
met:
· A financial asset is held within a business model whose objective is both collecting contractual cash flows and selling
financial assets.
· The contractual terms of the financial asset rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Securities for the purpose of liquidity management are particularly assigned to this category.
Recognition is at fair value. Interest income, foreign exchange gains and losses from remeasurements and impairment
expenses and reversals of impairment are recorded in the income statement and calculated in the same way as financial
assets measured at amortized cost. The remaining fair value changes are recorded in other comprehensive income. On
derecognition, the cumulative net gains or losses from the fair value changes which are recorded in other comprehensive
income are reclassified to the income statement. Details on the applied impairment model are shown in the section general
rules on impairment (IFRS 9).
In RBI, an equity instrument is shown at fair value through other comprehensive income if RBI irrevocably decides on initial
recognition to present subsequent changes in fair value in other comprehensive income (OCI). This decision is made on an
investment-by-investment basis for each investment and essentially covers strategic investments that are not fully
consolidated and investments in associates not valued at equity. In contrast to debt instruments, the gains and losses
recorded in other comprehensive income (OCI) are not reclassified to the income statement on sale; impairments are not
recorded through profit or loss, either.

2025 | Gross carrying amount | Accumulated impairment | Cumulative other comprehensive income | Carrying amount
in € million
Equity instruments | 231 | – | – | 231
Banks | 4 | – | – | 4
Other financial corporations | 153 | – | – | 153
Non-financial corporations | 73 | – | – | 73
Debt securities | 4,275 | (70) | 50 | 4,255
Central banks | 26 | 0 | 0 | 26
General governments | 3,532 | (65) | 50 | 3,517
Banks | 573 | 0 | (1) | 572
Other financial corporations | 8 | 0 | 0 | 8
Non-financial corporations | 136 | (4) | 1 | 133
Total | 4,506 | (70) | 50 | 4,486

2024 | Gross carrying amount | Accumulated impairment | Cumulative other comprehensive income | Carrying amount
in € million
Equity instruments | 211 | – | – | 211
Banks | 4 | – | – | 4
Other financial corporations | 133 | – | – | 133
Non-financial corporations | 74 | – | – | 74
Debt securities | 3,431 | (59) | 27 | 3,398
Central banks | 389 | 0 | 0 | 389
General governments | 2,231 | (55) | 32 | 2,207
Banks | 685 | (1) | (4) | 680
Other financial corporations | 0 | 0 | 0 | 0
Non-financial corporations | 127 | (3) | (1) | 122
Total | 3,642 | (59) | 27 | 3,610

The carrying amount for the position financial assets - fair value through other comprehensive income increased by € 876
million to € 4,486 million compared to previous year 2024 due to purchase of government bonds in Romania, Czech Republic
and the Ukraine, compensated by the sale of government bonds in Hungary.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
404 Consolidated financial statements
Equity instruments in financial assets – fair value through other comprehensive income:

in € million | 2025 | 2024
Visa Inc., San Francisco (US), Class A Preferred Stock | 31 | 28
CEESEG Aktiengesellschaft, Vienna (AT), ordinary shares | 33 | 29
Medicur - Holding Gesellschaft m.b.H., Vienna (AT), company shares | 20 | 18
HOBEX AG, Salzburg (AT), company shares | 16 | 13
PSA Payment Services Austria GmbH, Vienna (AT), company shares | 15 | 15
Other | 116 | 108
Total | 231 | 211
Dividends paid on equity instruments - fair value through other comprehensive income | 9 | 10

Carrying amounts of financial assets – fair value through other comprehensive
income, excluding equity instruments, by rating categories and stages

2025 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
Excellent | 589 | 0 | 0 | 0 | 589
Strong | 914 | 0 | 0 | 0 | 914
Good | 2,106 | 44 | 0 | 0 | 2,149
Satisfactory | 34 | 3 | 0 | 0 | 37
Substandard | 576 | 5 | 0 | 0 | 581
Credit impaired | 0 | 0 | 5 | 0 | 5
Not rated | 0 | 0 | 0 | 0 | 0
Gross carrying amount | 4,219 | 51 | 5 | 0 | 4,275
Accumulated impairment | (65) | (1) | (4) | 0 | (70)
Cumulative other comprehensive income | 47 | 2 | 1 | 0 | 50
Carrying amount | 4,201 | 52 | 2 | 0 | 4,255

2024 | Stage 1 | Stage 2 | Stage 3 | POCI | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL | Lifetime ECL |
Excellent | 752 | 0 | 0 | 0 | 752
Strong | 861 | 0 | 0 | 0 | 861
Good | 1,349 | 88 | 0 | 0 | 1,437
Satisfactory | 27 | 0 | 0 | 0 | 27
Substandard | 315 | 33 | 0 | 0 | 348
Credit impaired | 0 | 0 | 5 | 0 | 5
Not rated | 0 | 0 | 0 | 0 | 0
Gross carrying amount | 3,304 | 121 | 5 | 0 | 3,431
Accumulated impairment | (54) | (3) | (3) | 0 | (59)
Cumulative other comprehensive income | 25 | 2 | 0 | 0 | 27
Carrying amount | 3,275 | 121 | 2 | 0 | 3,398

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 405
(18) Non-trading financial assets - mandatorily fair value through profit/loss
In RBI, a financial asset is mandatorily measured at fair value if the financial asset is managed neither at amortized cost nor at
fair value through other comprehensive income, and if there is no intention to trade and the asset was not voluntarily
designated at fair value. Essentially, this concerns securities and loans which do not pass the contractual cash flow
characteristics analysis and portfolios of financial assets which are not held for trading, which are managed at fair value and
whose performance is assessed.

in € million | 2025 | 2024
Equity instruments | 4 | 6
Other financial corporations | 4 | 6
Non-financial corporations | 0 | 0
Debt securities | 410 | 399
General governments | 198 | 178
Banks | 12 | 22
Other financial corporations | 196 | 193
Non-financial corporations | 4 | 7
Loans and advances | 934 | 689
General governments | 1 | 1
Banks | 2 | 2
Other financial corporations | 18 | 24
Non-financial corporations | 277 | 187
Households | 636 | 476
Total | 1,347 | 1,094

(19) Financial assets and liabilities – designated fair value through profit/
loss
This category comprises mainly all those financial assets that are irrevocably designated as financial instruments at fair value
(so-called fair value option) upon initial recognition in the statement of financial position. An entity may use this designation
only when doing so eliminates or significantly reduces incongruities in measurement or recognition. These arise if the
measurement of financial assets or liabilities or the recognition of resulting gains or losses has a different basis.
Financial liabilities are also designated as financial instruments at fair value to avoid valuation discrepancies with related
derivatives. The fair value of financial obligations under the fair value option in this category reflects all market risk factors,
including those related to the credit risk of the issuer.
The financial liabilities are mostly structured bonds. The fair value of these financial liabilities is calculated by discounting the
contractual cash flows with a credit risk-adjusted yield curve, which reflects the level at which the Group could issue similar
financial instruments at the reporting date. The market risk parameters are determined based on similar financial instruments.
Valuation results for liabilities that are designated as a financial instrument at fair value are recognized in net trading income
and fair value result.
Interest income is shown in net interest income; valuation results and proceeds from disposals are shown in net trading income
and fair value result. For financial liabilities designated at fair value through profit or loss, changes in fair value attributable to
a change in own credit risk is not reported in the income statement but in other comprehensive income.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
406 Consolidated financial statements
Financial assets - designated fair value through profit/loss

in € million | 2025 | 2024
Debt securities | 208 | 304
General governments | 193 | 281
Banks | 9 | 15
Non-financial corporations | 6 | 8
Total | 208 | 304

Financial liabilities – designated fair value through profit/loss

in € million | 2025 | 2024
Deposits from banks | 16 | 17
Deposits with agreed maturity | 16 | 17
Deposits from customers | 24 | 24
Deposits with agreed maturity | 24 | 24
Debt securities issued | 1,020 | 1,067
Hybrid contracts | 0 | 0
Other debt securities issued | 1,020 | 1,067
hereof non-convertible | 1,020 | 1,067
Total | 1,061 | 1,108
hereof subordinated financial liabilities | 0 | 0

(20) Financial assets – held for trading
Financial assets and liabilities – held for trading are acquired or incurred principally for the purpose of generating profit from
short-term fluctuations in market prices. Securities and derivative financial instruments held for trading are recognized at fair
value. If securities are listed, the fair value is based on stock exchange prices. Where such prices are not available, internal
prices based on present value calculations for originated financial instruments and futures or option pricing models for options
are applied. Present value calculations are based on an interest rate curve which consists of money market rates, future rates,
and swap rates.
Positive fair values are shown under financial assets – held for trading. Negative fair values are shown under financial liabilities
– held for trading. Changes in fair value are shown in net trading income. Derivatives held for hedging purposes pursuant to
IAS 39 are shown in the statement of financial position under the item hedge accounting. In addition, any liabilities from the
short-selling of securities are shown in financial liabilities – held for trading.
Capital guaranteed products (guarantee funds and pension plans) are shown as sold put options on the respective funds to be
guaranteed. The Group has provided capital guarantee obligations as part of the government-funded state-subsidized
pension plans according to § 108h (1) item 3 EStG (Austrian Income Tax Act). The bank guarantees that the retirement annuity,
available for the payment amount is not less than the sum of the amounts paid by the taxpayer plus credits for such taxable
premiums within the meaning of § 108g EStG.
Interest income is shown in net interest income, valuation results and proceeds from disposals are shown in net trading income
and fair value result.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 407

in € million | 2025 | 2024
Derivatives | 3,377 | 3,405
Interest rate contracts | 2,286 | 2,318
Equity contracts | 590 | 382
Foreign exchange rate and gold contracts | 440 | 646
Credit contracts | 27 | 29
Commodities | 0 | 0
Other | 35 | 31
Equity instruments | 523 | 453
Banks | 88 | 54
Other financial corporations | 137 | 141
Non-financial corporations | 299 | 258
Debt securities | 3,330 | 2,087
Central banks | 5 | 4
General governments | 2,827 | 1,679
Banks | 411 | 315
Other financial corporations | 9 | 16
Non-financial corporations | 78 | 73
Loans and advances | 0 | 0
Total | 7,230 | 5,945

Within the item financial assets – held for trading, the securities pledged as collateral, which the recipient is entitled to sell or
pledge, amounted to € 64 million (previous year: € 462 million). The increase in debt securities was mainly due to the purchase
of government bonds at head office.
Derivative financial instruments
Within the operating activity, RBI carries out transactions with derivative financial instruments for trading and hedging
purposes. RBI uses derivatives including swaps, standardized forward contracts, futures, credit derivatives, options, and similar
contracts. RBI uses derivatives to meet client requirements concerning their risk management, to manage and hedge risks and
to generate profit in proprietary trading. Derivatives are recognized at the time of the transaction at fair value and
subsequently revalued to fair value. The resulting valuation gain or loss is recognized in net trading income and fair value result
unless the derivative is designated as a hedging instrument for hedge accounting purposes and the hedge is effective. Here
the timing of the recognition of the gain or loss on the hedging instrument depends on the type of hedging relationship.
Derivatives which are used for hedging against market risk (excluding trading assets/liabilities) for a non-homogeneous
portfolio do not meet the conditions for IAS 39 hedge accounting. These are recognized as follows: the dirty price is booked
under the item financial assets – held for trading or financial liabilities – held for trading in the statement of financial position.
The change in value of these derivatives based on the clean price, is shown in net trading income and fair value result and
interest is shown in net interest income.
Credit derivatives, the value of which is dependent on future specified credit (non-)events are shown at fair value under the
item financial assets – held for trading or financial liabilities – held for trading. Changes in valuation are recognized under net
trading income and fair value result.

2025 | Nominal amount | Fair value
in € million |  | Assets | Equity and liabilities
Trading book | 199,602 | 3,203 | (2,701)
Interest rate contracts | 141,690 | 2,149 | (2,195)
Equity contracts | 4,858 | 590 | (142)
Foreign exchange rate and gold contracts | 48,265 | 402 | (317)
Credit contracts | 1,626 | 27 | (41)
Commodities | 25 | 0 | (1)
Other | 3,139 | 35 | (5)
Banking book | 18,142 | 175 | (85)
Interest rate contracts | 13,136 | 137 | (56)
Foreign exchange rate and gold contracts | 5,006 | 37 | (28)
Total | 217,744 | 3,377 | (2,785)
OTC products | 215,803 | 3,369 | (2,759)
Products traded on stock exchange | 1,941 | 8 | (26)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
408 Consolidated financial statements

2024 | Nominal amount | Fair value
in € million |  | Assets | Equity and liabilities
Trading book | 195,720 | 3,219 | (2,824)
Interest rate contracts | 141,742 | 2,170 | (2,199)
Equity contracts | 3,966 | 382 | (121)
Foreign exchange rate and gold contracts | 47,415 | 608 | (469)
Credit contracts | 1,126 | 27 | (30)
Commodities | 21 | 0 | 0
Other | 1,450 | 31 | (6)
Banking book | 12,607 | 186 | (208)
Interest rate contracts | 7,181 | 148 | (66)
Foreign exchange rate and gold contracts | 5,365 | 37 | (130)
Credit contracts | 61 | 1 | (12)
Total | 208,327 | 3,405 | (3,032)
OTC products | 206,383 | 3,388 | (3,004)
Products traded on stock exchange | 1,944 | 17 | (28)

(21) Financial liabilities - held for trading

in € million | 2025 | 2024
Derivatives | 2,785 | 3,032
Interest rate contracts | 2,251 | 2,265
Equity contracts | 142 | 121
Foreign exchange rate and gold contracts | 346 | 598
Credit contracts | 41 | 42
Commodities | 1 | 0
Other | 5 | 6
Short positions | 1,310 | 992
Equity instruments | 0 | 11
Debt securities | 1,310 | 981
Debt securities issued | 6,986 | 5,279
Hybrid contracts | 6,986 | 5,279
Other financial liabilities | 1 | 1
Total | 11,082 | 9,304

In the item derivatives was a reduction, which is due to valuation effects and exchange rate fluctuations, particularly in
interest rate and foreign currency derivatives at head office. However, there was an increase in the securitized liabilities item,
which is due to the increase in hybrid contracts.
Details on valuation principles are shown under (20) Financial assets – held for trading.
(22) Hedge accounting and fair value adjustments of the hedged items in
portfolio hedge
IFRS 9 granted the accounting policy choice to continue the application of the provisions given in IAS 39 until the IASB finishes
its existing project of replacing the portfolio hedge accounting rules in IAS 39. RBI opted to use this policy choice and i still
applying the hedge accounting rules according to IAS in the version endorsed by the EU (EU carve-out). Notwithstanding that,
the changes in the disclosures in the notes pursuant to IFRS 7 are taken into account.
If hedging instruments, mainly derivatives, are held for the purpose of risk management and if the respective transactions
meet specific criteria, RBI designates them into hedge accounting relationships. This can occur in the way of fair value hedges,
cash flow hedges or net investment hedges. At the beginning of the hedging relationship, the relationship between underlying
and hedging instrument, including the risk management objectives, is documented. Furthermore, it is necessary to regularly
document from the beginning and during the lifetime of the hedging relationship that the fair value or cash flow hedge is
highly effective in respect of the offset of valuation changes between hedging instrument and hedged item.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 409

in € million | 2025 | 2024
Positive fair values of derivatives in micro fair value hedge | 438 | 371
Interest rate contracts | 438 | 371
Positive fair values of derivatives in micro cash flow hedge | 0 | 0
Interest rate contracts | 0 | 0
Positive fair values of derivatives in net investment hedge | 0 | 9
Positive fair values of derivatives in portfolio hedge | 660 | 633
Cash flow hedge | 125 | 95
Fair value hedge | 535 | 538
Total | 1,098 | 1,014

in € million | 2025 | 2024
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (372) | (234)
Total | (372) | (234)

in € million | 2025 | 2024
Negative fair values of derivatives in micro fair value hedge | 293 | 417
Interest rate contracts | 293 | 417
Negative fair values of derivatives in micro cash flow hedge | 0 | 0
Interest rate contracts | 0 | 0
Negative fair values of derivatives in net investment hedge | 17 | 1
Negative fair values of derivatives in portfolio hedge | 632 | 890
Cash flow hedge | 72 | 183
Fair value hedge | 560 | 707
Total | 942 | 1,308

in € million | 2025 | 2024
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (343) | (359)
Total | (343) | (359)

Hedge accounting – additional information
Depending on the risk to be hedged, fair value and cash flow hedge accounting are used. The aim is to reduce the interest rate
risk and volatility in the income statement. Both types may be modeled at the micro level and in portfolios. Net investment
hedges are mainly applied to hedge the net investment risk against fluctuations in the Romanian leu, the Czech koruna, the
Hungarian forint and the Serbian dinar.
In fair value hedges and cash flow hedges, various financial instruments are designated as hedged items in hedges. These
instruments consist mainly of loans and advances on the asset side and deposits on the liability side. Other items included in
hedge accounting relationships are debt securities and securitized liabilities. Most of the hedging instruments are interest rate
and foreign exchange contracts.
More information on RBI’s risk management strategy is provided in the risk report under (42) Market risk.
The effects of hedges on the statement of comprehensive income are included in (5) Net trading income, fair value result and
net gains/losses from hedge accounting, while those on the statement of changes in equity are included in the development of
the cumulative other comprehensive income in (29) Equity and non-controlling interests.
Hedge of a net investment in an economically independent operation (net investment
hedge)
In RBI, foreign exchange hedges of net investments in economically independent sub-units are executed to reduce differences
arising from the foreign currency translation on equity. FX Forwards are mainly used as hedging instruments. Where the hedge
is effective the resulting gains or losses from foreign currency translation are recognized in other comprehensive income and
shown separately in the statement of comprehensive income. Any ineffective part of the hedge is recognized in net trading
income. Any valuation part that is implied in FX Forwards due to the different interest rate differential on the two currencies is
shown in net trading income.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
410 Consolidated financial statements
Hedging instruments
Breakdown of hedging instruments by type of hedge accounting at the level of nominal amounts, both in total and by
contractual termination, and at the level of the carrying amounts.

2025 | Nominal amount | Maturity | Carrying amount
in € million |  | Up to 3 months | More than 3 months, up to 1 year | 1 year, up to 5 years | More than 5 years | Assets | Liabilities
Interest rate contracts | 82,271 | 1,721 | 7,576 | 45,694 | 27,281 | 1,095 | 923
Cash flow hedge | 4,698 | 254 | 1,173 | 2,525 | 746 | 122 | 70
Fair value hedge | 77,573 | 1,467 | 6,403 | 43,168 | 26,535 | 973 | 853
Foreign exchange contracts | 1,371 | 450 | 720 | 124 | 77 | 3 | 19
Cash flow hedge | 246 | 0 | 45 | 124 | 77 | 3 | 2
Fair value hedge | 0 | 0 | 0 | 0 | 0 | 0 | 0
Net investment hedge | 1,125 | 450 | 675 | 0 | 0 | 0 | 17
Total | 83,642 | 2,171 | 8,296 | 45,817 | 27,358 | 1,098 | 942

2024 | Nominal amount | Maturity | Carrying amount
in € million |  | Up to 3 months | More than 3 months, up to 1 year | 1 year, up to 5 years | More than 5 years | Assets | Liabilities
Interest rate contracts | 71,608 | 1,726 | 8,194 | 38,996 | 22,692 | 1,004 | 1,301
Cash flow hedge | 4,890 | 184 | 892 | 2,935 | 879 | 94 | 177
Fair value hedge | 66,718 | 1,542 | 7,302 | 36,060 | 21,814 | 910 | 1,124
Foreign exchange contracts | 2,135 | 1,175 | 878 | 48 | 34 | 11 | 7
Cash flow hedge | 130 | 0 | 48 | 48 | 34 | 1 | 6
Fair value hedge | 0 | 0 | 0 | 0 | 0 | 0 | 0
Net investment hedge | 2,005 | 1,175 | 830 | 0 | 0 | 9 | 1
Total | 73,743 | 2,901 | 9,072 | 39,043 | 22,726 | 1,014 | 1,308

Fair value hedges
Hedge accounting according to IAS 39 applies to those derivatives that are used to hedge the fair value of financial assets and
liabilities. The credit business is especially subject to such fair value risks if it deals with fixed-interest loans. Interest rate
swaps that satisfy the prerequisites for hedge accounting are contracted to hedge against the interest rate risks arising from
individual loans or refinancing. Thus, hedges are formally documented, continuously assessed, and tested to be highly effective.
Throughout the term of a hedge relationship, it can therefore be assumed that changes in the fair value of a hedged item will
be nearly completely offset by a change in the fair value of the hedging instrument and that the actual effectiveness outcome
will lie within a range of 80 to 125 per cent.
Derivative instruments held to hedge the fair value of individual items in the statement of financial position (except trading
derivatives) are recognized at fair value (dirty price) under the item hedge accounting (for assets: positive dirty prices; for
liabilities: negative dirty prices). Changes in the carrying amounts of hedged items (assets or liabilities) are allocated directly to
the corresponding items of the statement of financial position and reported separately in the notes.
Both the effect of changes in the carrying amounts of hedged items and the effects of changes in the clean prices of the
derivative instruments are recorded under net gains/losses from hedge accounting.
Within the management of interest rate risks, the hedging of interest rate risk is also undertaken on the portfolio level.
Individual transactions or groups of transactions with similar risk structures, divided into maturities according to the expected
repayment and interest rate adjustment date in a portfolio, are hedged. Portfolios can contain assets only, liabilities only, or
both. For hedge accounting, the change in the value of the hedged asset or liability is shown in net gains/losses from hedge
accounting. The hedged amount of the hedged items is determined in the consolidated financial statements including sight
deposits (the rules of the EU carve-out are therefore applied).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 411
Details of the underlying transactions for fair value hedges:

2025 | Carrying amount of the hedged items | Accumulated amount of fair value adjustments of the hedged items | Changes in fair value of the hedged items 1
in € million | Assets | Liabilities | Assets | Liabilities |
Interest rate hedges | 37,956 | 39,547 | (757) | (619) | (374)
Debt securities | 19,453 | 0 | (381) | 0 | (151)
Loans and advances | 18,504 | 0 | (375) | 0 | (156)
Deposits | 0 | 21,882 | 0 | (432) | (52)
Debt securities issued | 0 | 17,665 | 0 | (187) | (15)
Other financial liabilities | 0 | 0 | 0 | 0 | 0
Foreign exchange hedges | 0 | 0 | 0 | 0 | 0
Other assets | 0 | 0 | 0 | 0 | 0
Other liabilities | 0 | 0 | 0 | 0 | 0
Total | 37,956 | 39,547 | (757) | (619) | (374)
1 Fair value changes in the underlying transactions which were used in the reporting period to calculate ineffectiveness

2024 | Carrying amount of the hedged items | Accumulated amount of fair value adjustments of the hedged items | Changes in fair value of the hedged items 1
in € million | Assets | Liabilities | Assets | Liabilities |
Interest rate hedges | 31,328 | 33,168 | (452) | (670) | (170)
Debt securities | 16,735 | 0 | (205) | 0 | 167
Loans and advances | 14,593 | 0 | (247) | 0 | 105
Deposits | 0 | 17,447 | 0 | (459) | (138)
Debt securities issued | 0 | 15,721 | 0 | (211) | (304)
Other financial liabilities | 0 | 0 | 0 | 0 | 0
Foreign exchange hedges | 0 | 49 | 0 | 0 | (1)
Other assets | 0 | 0 | 0 | 0 | 0
Other liabilities | 0 | 49 | 0 | 0 | (1)
Total | 31,328 | 33,217 | (452) | (670) | (170)
1 Fair value changes in the underlying transactions which were used in the reporting period to calculate ineffectiveness

Cash flow hedges
Cash flow hedge accounting according to IAS 39 applies for those derivatives that are used to hedge against the risk of
fluctuating future cash flows. Variable interest loans and liabilities, as well as expected transactions such as expected
borrowing or investment, are especially subject to such cash flow risks. Interest rate swaps used to hedge against the risk of
fluctuating cash flows arising from specific variable interest rate items are recognized as follows: The hedging instrument is
recognized at fair value, changes in its clean price are recorded in other comprehensive income. Any ineffective portion is
recognized in the income statement under net gains/losses from hedge accounting.
Details on changes in the value of the hedging instruments in cash flow hedge relationships considering the various disclosure
of the effective part in the other comprehensive income and the ineffective part in the income statement:

2025 | Change in the value of the hedging instruments recognized in other comprehensive income | Hedge ineffectiveness recognized in profit or loss
in € million
Interest rate hedges | 163 | 1
Loans and advances | 177 | 0
Deposits | (14) | 0
Foreign exchange hedges | 0 | 0
Other assets | 0 | 0
Other liabilities | 0 | 0
Total | 163 | 1

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
412 Consolidated financial statements

2024 | Change in the value of the hedging instruments recognized in other comprehensive income | Hedge ineffectiveness recognized in profit or loss
in € million
Interest rate hedges | (103) | 1
Loans and advances | (121) | 1
Deposits | 18 | 1
Foreign exchange hedges | 0 | 0
Other assets | 1 | 0
Other liabilities | -1 | 0
Total | -103 | 1

(23) Notes to fair value of financial instruments
In accordance with IFRS 13, RBI uses the following fair value hierarchy to determine and report the fair value for financial
instruments. The allocation of certain financial instruments to the level categories requires regular assessment, especially if
the valuation is based on both observable and unobservable inputs. The classification of an instrument may change over time,
even after considering changes in market liquidity and thus price transparency.
Quotation on an active market (Level I)
Financial instruments whose fair values are measured based on quoted market prices are allocated to Level I of the fair value
hierarchy. This category includes particularly equity instruments traded on the stock exchange, debt instruments traded on the
interbank market and derivatives traded on the stock exchange. The valuation is mainly based on external data sources (stock
exchange prices or broker quotes in liquid market segments). In an active market, transactions involving assets and liabilities
are traded in sufficient frequency and volumes that price information is continuously available. Indicators for active markets
are the number, the frequency of update or the quality of quotations (e.g. banks or stock exchanges). Moreover, narrow bid/ask
spreads and quotations from market participants within a certain corridor are also indicators of an active liquid market.
Financial instruments whose fair value measurements are based on quoted market prices mainly consist of quoted securities, a
small proportion of derivatives and liquid bonds traded on over-the-counter markets (OTC).
Measurement techniques based on observable market data (Level II)
When quoted prices are not available on an active market, the financial instrument is then classified as Level II if the fair value
can be determined using recognized measurement models which utilize observable prices or parameters (particularly present
value calculations or option price models). The observable market data mainly consist of yield curves, credit spreads and
volatilities. RBI generally uses measurement models that undergo internal review by the Market Risk Committee to ensure
appropriate measurement parameters. The measurement techniques based on observable market data concern most of the
OTC derivatives and non-quoted debt instruments.
Measurement techniques not based on observable market data (Level III)
If the fair value measurement can be made neither based on sufficiently regular market prices (Level I) nor on measurement
models that are based entirely on observable market prices (Level II), individual input parameters that are not observable in the
market are estimated using appropriate assumptions. If unobservable parameters have a significant impact on the
measurement of the underlying financial instrument, it is assigned to Level III of the fair value hierarchy. These regularly
unobservable measurement parameters include credit spreads derived from internal estimates.
These input parameters may include data which is calculated in terms of approximated values from historical data among
other factors (fair value hierarchy Level III). The utilization of these models requires assumptions and estimates of the
Management. The scope of the assumptions and estimates depends on the price transparency of the financial instrument, its
market, and the complexity of the instrument.
For financial instruments valued at amortized cost (this comprises loans and advances, deposits, other short-term borrowings,
and long-term liabilities), the Group discloses the fair value. In principle, there is low or no trading activity for these instruments,
therefore a significant degree of assessment by the Management is necessary for determining the fair value.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 413
Fair value of financial instruments measured at fair value
The loan portfolio is included in the central calculation of fair value. Fair value is calculated monthly and is based on the
discounted cash flow method. The expected cash flows are discounted using an appropriate discount rate (e.g. risk-free
interest rate plus premium). The method applied to calculate the discount rate depends on the segment (i.e. retail and non-
retail).
In addition, the fair value of the embedded options is calculated for the loan portfolio, and the method applied is based on the
customer segment (i.e. retail and non-retail). The measurement of the embedded options in the retail segment is based on
behavioral modeling (e.g. linear regression/moving twelve-month average of prepayment rates). The measurement of
embedded options in loans in the non-retail segment assumes that the customer will behave in an entirely rational manner.
The embedded options in non-retail loans such as prepayment, disbursement and replenishment are replicated with swaptions
and measured using the trinomial tree Hull-White structural model. The Black model, which is based on the log-normal
distribution of yields, is generally used to measure interest rate options (caps and floors). As there is a volatile interest rate
environment, the shifted log-normal Black model is used to measure interest rate options. It is based on a displaced diffusion
model (log-normal distribution with a shift in interest rates).
For bonds, tradable market prices are mostly used. If no quotes are available, a discounted cash flow model is used to value
the securities. The yield curve and an adequate credit spread are used as measurement parameters. The credit spread is
determined through comparable financial instruments available on the market. Credit default spreads were used to measure a
small part of the portfolio. In addition, consideration is given to third party external measurements, which are indicative in all
cases. The positions are assigned to levels at the end of the reporting period.
In RBI, well-known conventional market valuation techniques are used to measure OTC derivatives. For example, interest rate
swaps, cross currency swaps and forward rate agreements are measured using the customary discounted cash flow model for
these products. OTC options, such as foreign exchange options or caps and floors, are based on valuation models which are in
line with market standards. In the case of the examples listed, such models would be the Garman-Kohlhagen model, Black-
Scholes 1972 and Black 1976. Monte Carlo simulations are used to measure complex options.
Credit value adjustments (CVA) and debit value adjustments (DVA) are also necessary to determine fair value to reflect
counterparty default risk associated with OTC derivative transactions, especially for contractual partners for whom a credit
support annex does not provide protection. This amount represents the respective estimated market value of a security
measure which is required to hedge against counterparty credit risk in the Group’s OTC derivative portfolios.
The CVA depends on the expected future exposure (expected positive exposure) and the probability of default of the
contractual partner. The expected positive exposure is calculated by simulating a large number of scenarios for future points
in time, taking into account all available risk factors (e.g. currency and yield curves). OTC derivatives are measured at market
values taking into account these scenarios at the respective future points in time and are aggregated at counterparty level in
order to then ascertain the expected positive exposure for all points in time. Counterparties with CSA contracts (credit support
annex contracts) are taken into account in the calculation. The expected exposures are not calculated directly from simulated
market values, but from a future expected change in market values based on a margin period of risk of ten days. In order to
determining the probability of default for each counterparty, where direct credit default swap (CDS) quotations are available,
the Group calculates the market-based probability of default and, implicitly, the loss given default (LGD) for the respective
counterparty. The probability of default for counterparties which are not actively traded on the market is calculated by
assigning a counterparty’s internal rating to a sector and rating specific CDS curve.
The DVA is determined by the expected negative exposure and by RBI's credit quality and represents the value adjustment for
own probability of default. The method of calculation is analogous to that of the CVA. No funding value adjustment (FVA) was
considered to measure OTC derivatives. RBI is observing market developments and will develop a method to calculate the FVA
where appropriate.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
414 Consolidated financial statements
I n the tables below, the financial instruments reported at fair value in the statement of financial position are grouped
according to items in the statement of financial position.

Assets | 2025 | 2024
in € million | Level I | Level II | Level III | Level I | Level II | Level III
Financial assets - held for trading | 3,685 | 3,524 | 21 | 2,289 | 3,642 | 15
Derivatives | 2 | 3,376 | 0 | 3 | 3,402 | 0
Equity instruments | 502 | 1 | 20 | 449 | 1 | 3
Debt securities | 3,181 | 147 | 2 | 1,837 | 239 | 12
Non-trading financial assets - mandatorily fair value through profit/loss | 357 | 12 | 979 | 327 | 34 | 733
Equity instruments | 1 | 3 | 0 | 1 | 5 | 0
Debt securities | 356 | 9 | 44 | 326 | 29 | 44
Loans and advances | 0 | 0 | 934 | 0 | 0 | 689
Financial assets - designated fair value through profit/ loss | 198 | 10 | 0 | 286 | 18 | 0
Debt securities | 198 | 10 | 0 | 286 | 18 | 0
Financial assets - fair value through other comprehensive income | 3,350 | 854 | 281 | 2,645 | 693 | 272
Equity instruments | 33 | 1 | 197 | 30 | 0 | 181
Debt securities | 3,317 | 854 | 84 | 2,615 | 693 | 91
Hedge accounting | 0 | 1,098 | 0 | 0 | 1,014 | 0

Equity and liabilities | 2025 | 2024
in € million | Level I | Level II | Level III | Level I | Level II | Level III
Financial liabilities - held for trading | 1,309 | 9,774 | 0 | 991 | 8,313 | 0
Derivatives | 3 | 2,782 | 0 | 2 | 3,031 | 0
Short positions | 1,305 | 6 | 0 | 988 | 4 | 0
Debt securities issued | 0 | 6,986 | 0 | 0 | 5,279 | 0
Other financial liabilities | 1 | 0 | 0 | 1 | 0 | 0
Financial liabilities - designated fair value through profit/loss | 0 | 1,061 | 0 | 0 | 1,108 | 0
Deposits | 0 | 40 | 0 | 0 | 41 | 0
Debt securities issued | 0 | 1,020 | 0 | 0 | 1,067 | 0
Hedge accounting | 0 | 942 | 0 | 0 | 1,308 | 0

Movements of financial instruments valued at fair value between Level I and Level II
Market values were available for financial instruments with a volume of € 52 millions as of December 31, 2025. For example,
instead of the BVAL value (Bloomberg Evaluation), there was the BGN value (Bloomberg Generic Price). Consequently, these
securities were reclassified from Level II to Level I. The shifts from Level I to Level II involved mainly bonds amounting to € 22
million, for which only derived prices were available at the time of transfer.
Movements of financial instruments at fair value in Level III
The total stock of Level III assets saw a net increase of € 262 million in the reporting period. Financial instruments mandatorily
recognized at fair value increased by € 246 million net, mainly due to inflows in Austria, in particular as a result of substantial
modifications and loan growth in Hungary. In the valuation category of financial assets held for trading, the volume increased
by a net amount of € 7 million, primarily due to additions in Albania and Croatia, with the additions in Albania being offset by
even higher disposals. In the measurement category financial assets - fair value through other comprehensive income, there
was an increase of € 8 million, mainly due to additions and positive valuation results in Austria. Out of the € 255 million, net
increase of around € 14 million was based on exchange rate fluctuations.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 415

Assets in € million | As at 1/1/2025 | Change in consolidated group | Exchange differences | Additions | Disposals
Financial assets - held for trading | 15 | 0 | 1 | 55 | (48)
Non-trading financial assets - mandatorily fair value through profit/loss | 733 | 0 | 14 | 301 | (47)
Financial assets - designated fair value through profit/loss | 0 | 0 | 0 | 0 | 0
Financial assets - fair value through other comprehensive income | 272 | 8 | (1) | 8 | (3)
Total | 1,019 | 8 | 14 | 364 | (98)

Assets in € million | Gains/loss in P/L | Gain/loss in other comprehensive income | Transfer to Level III | Transfer from Level III | As at 31/12/2025
Financial assets - held for trading | (2) | 0 | 0 | 0 | 21
Non-trading financial assets - mandatorily fair value through profit/loss | (23) | 0 | 0 | 0 | 979
Financial assets - designated fair value through profit/loss | 0 | 0 | 0 | 0 | 0
Financial assets - fair value through other comprehensive income | 0 | (2) | 0 | 0 | 281
Total | (26) | (2) | 0 | 0 | 1,281

Qualitative information on the valuation of financial instruments in Level III

Assets | Fair value in € million¹ | Valuation technique | Significant unobservable inputs | Range of unobservable inputs
2025
Financial assets - held for trading | 21 |  |  |
Equity investments, Mezzanine capital, Supplementary capital | 20 | Indicative prices, Alternative investments | – | –
Treasury bills, fixed coupon bonds | 2 | DCF method | Credit spread; (Auctions-) yield curve | 2.5 - 14.77%
Non-trading financial assets - mandatorily fair value through profit/loss | 979 |  |  |
Other interests | 0 | Simplified net present value method | – | –
Bonds, notes and other fixed-interest securities | 44 | Net asset value Market price indication | (Auction-) Price | –
Loans | 934 | Retail: DCF method (Black Scholes, prepayment option, withdrawal option etc.) Non-Retail: DCF method/ Financial option pricing Black Scholes (shifted), Hull-White trinominal tree | Discount spread (new business) Funding curves (liquidity costs) Credit risk premium (CDS curves) | 1.22 - 3.84 % over all currencies (0.15) - 3,34 % over all currencies 0.11 - 5,46 % (depending on the rating: from A to CCC)
Financial assets - fair value through other comprehensive income | 281 |  |  |
Other interests | 64 | Dividend discount model Simplified income approach DCF method | Credit spread Cash flow Discount rate Dividends Beta factor | –
Other interests | 62 | Adjusted net asset value method | Adjusted equity | –
Other interests | 71 | Market comparable companies Transaction price Purchase price Cost approach Valuation report Cost minus impairment | - | –
Treasury bills, municipal bonds | 84 | DCF method | Interest rate | –
Total | 1,281 |  |  |

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
416 Consolidated financial statements
Sensitivity of the fair value of financial assets (Level III) and liabilities measured at fair
value
Calculations of unobservable input parameters are mainly based on changes in credit spreads for bonds and loans as well as
market values of comparable equities. For bonds and loans, an increase (decrease) in credit spread of 100 basis points leads to
a corresponding decrease (increase) in fair value. For unquoted equity instruments an increase (decrease) in price of 10 per cent
leads to a corresponding increase (decrease) in fair value.
Financial assets

| 2025 | 2024
| Carrying amount | Fair value changes | Carrying amount | Fair value changes
in € million | Level III | Positive | Negative | Level III | Positive | Negative
Loans and advances | 934 | 28 | (25) | 689 | 21 | (14)
Debt securities | 46 | 4 | (4) | 56 | 4 | (4)
Income statement effect | - | 33 | (30) | - | 26 | (18)

| 2025 | 2024
| Carrying amount | Fair value changes | Carrying amount | Fair value changes
in € million | Level III | Positive | Negative | Level III | Positive | Negative
Debt securities | 84 | 2 | (2) | 91 | 3 | (3)
Equity instruments | 197 | 16 | (17) | 181 | 11 | (11)
Other comprehensive income effect | - | 18 | (20) | - | 14 | (14)

Other assets and liabilities and equity
(24) Investments in subsidiaries and associates

in € million | 2025 | 2024
Investments in affiliated companies | 222 | 206
Investments in associates valued at equity | 721 | 665
Total | 944 | 871
Number of subsidiaries not included | 247 | 262

Investments in associates valued at equity:

in € million | Share in % | Carrying amount 2025 | Carrying amount 2024
card complete Service Bank AG, Vienna (AT) | 25.0% | - | 2
EMCOM Beteiligungs GmbH, Vienna (AT) | 33.6% | 7 | 7
Leipnik-Lundenburger Invest Beteiligungs AG, Vienna (AT) | 33.1% | 150 | 161
Notartreuhandbank AG, Vienna (AT) | 26.0% | 18 | 16
Oesterreichische Kontrollbank Aktiengesellschaft, Vienna (AT) | 8.1% | 71 | 64
Österreichische Hotel- und Tourismusbank Gesellschaft m.b.H., Vienna (AT) | 31.3% | 15 | 16
Posojilnica Bank eGen, Klagenfurt (AT) | 49.8% | 26 | 20
Prva stavebna sporitelna a.s., Bratislava (SK) | 32.5% | 63 | 51
Raiffeisen Informatik GmbH & Co KG, Vienna (AT) | 47.6% | 12 | 10
Raiffeisen-Leasing Management GmbH, Vienna (AT) | 50.0% | 9 | 8
UNIQA Insurance Group AG, Vienna (AT) | 10.9% | 352 | 309
Total |  | 721 | 665

The carrying amount of investments in associates values at equity increased from € 665 million to € 721 million. The increase is
primarily due UNIQA Insurance Group AG.
In the current reporting period, the sale of the card complete Service Bank AG took place. The decrease in book value at
Leipnik-Lundenburger Invest Beteiligungs AG is attributable to negative economic developments of the at equity valued
investments in Leipnik-Lundenburger Invest Beteiligungs AG. The increase of the carrying amounts of UNIQA Insurance Group
AG, Posojilnica Bank eGen and Prva stavebna sporitelna a.s. is primarily due to higher earning contributions in the reporting
period 2025.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 417
Significant influence over UNIQA Insurance Group AG exists due to a syndicate agreement with the other core shareholders
that governs the right to appoint members of the Supervisory Board, among other things. Significant influence over
Oesterreichische Kontrollbank Aktiengesellschaft exists due to two permanent positions on the Supervisory Board.Financial
information on associates valued at equity as at 30 September 2025:

in € million | EMCOM | LLI 1 | NTB | OeKB 1 | OEHT
Assets | 20 | 1,210 | 2,153 | 35,693 | 1,235
Operating income | 0 | 57 | 12 | 77 | 11
Profit/loss after tax from continuing operations | 0 | (55) | 9 | 63 | 8
Profit/loss after tax from discontinued operations | 0 | 0 | 0 | 0 | 0
Other comprehensive income | 0 | (10) | 0 | 3 | 0
Total comprehensive income | 0 | (65) | 9 | 66 | 8
Attributable to non-controlling interests | 0 | 3 | 0 | 1 | 0
Attributable to investee's shareholders | 0 | (68) | 9 | 65 | 8
Current assets | 20 | 378 | 454 | 6,553 | 20
Non-current assets | 0 | 832 | 1,699 | 29,140 | 1,215
Short-term liabilities | 0 | (391) | (1,853) | (9,392) | 0
Long-term liabilities | 0 | (313) | (232) | (25,355) | (1,179)
Net assets | 20 | 507 | 68 | 946 | 57
Attributable to non-controlling interests | 0 | 7 | 0 | 18 | 0
Attributable to investee's shareholders | 20 | 499 | 68 | 928 | 57
Group's interest in net assets of investee as at 1/1 | 7 | 184 | 16 | 74 | 16
Change in share/first time inclusion | 0 | 0 | 0 | 0 | 0
Total comprehensive income attributable to the Group | 1 | (15) | 3 | 6 | 3
hereof income statement | 1 | (19) | 3 | 6 | 3
hereof other comprehensive income | 0 | 4 | 0 | 0 | 0
Dividends received | (1) | (4) | (2) | (5) | (2)
Share in the capital increase | 0 | 0 | 0 | 0 | 0
Group's interest in net assets of investee as at 30/9 | 7 | 165 | 18 | 75 | 18
Valulation | 0 | (15) | 0 | (4) | (3)
Carrying amount | 7 | 150 | 18 | 71 | 15
1 Consolidated financial statements: Profit and equity is after deduction of non-controlling interests.
EMCOM: EMCOM Beteiligungs GmbH, Vienna (AT) LLI: Leipnik-Lundenburger Invest Beteiligungs Aktiengesellschaft, Vienna (AT) NTB: Notartreuhandbank AG, Vienna (AT) OeKB: Oesterreichische Kontrollbank Aktiengesellschaft, Vienna (AT) OEHT: Österreichische Hotel- und Tourismusbank Gesellschaft m.b.H., Vienna (AT)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
418 Consolidated financial statements

in € million | POSO | PSS | RIZ | R-Leasing | UNIQA 1
Assets | 397 | 2,921 | 341 | 59 | 28,763
Operating income | 3 | 60 | 5 | 1 | 484
Profit/loss after tax from continuing operations | 13 | 15 | 4 | 1 | 333
Profit/loss after tax from discontinued operations | 0 | 0 | 0 | 0 | 0
Other comprehensive income | 0 | 0 | 0 | 4 | 163
Total comprehensive income | 13 | 15 | 4 | 5 | 496
Attributable to non-controlling interests | 0 | 0 | 0 | 0 | (1)
Attributable to investee's shareholders | 11 | 15 | 4 | 4 | 498
Current assets | 115 | 136 | 184 | 55 | 1,403
Non-current assets | 281 | 2,785 | 157 | 4 | 27,360
Short-term liabilities | (278) | (654) | (155) | (28) | (1,194)
Long-term liabilities | (48) | (1,935) | (98) | 0 | (24,238)
Net assets | 71 | 332 | 88 | 31 | 3,331
Attributable to non-controlling interests | 0 | 0 | 0 | 0 | 114
Attributable to investee's shareholders | 71 | 332 | 88 | 31 | 3,217
Group's interest in net assets of investee as at 1/1 | 30 | 105 | 42 | 16 | 309
Change in share/first time inclusion | 0 | 0 | 0 | 0 | 0
Total comprehensive income attributable to the Group | 5 | 5 | 1 | 1 | 62
hereof income statement | 6 | 5 | 1 | 1 | 46
hereof other comprehensive income | 0 | 0 | 0 | 0 | 16
Dividends received | 0 | (2) | (2) | (2) | (19)
Share in the capital increase | 0 | 0 | 0 | 0 | 0
Group's interest in net assets of investee as at 30/9 | 35 | 108 | 42 | 15 | 352
Valulation | (9) | (45) | (30) | (7) | 0
Carrying amount | 26 | 63 | 12 | 9 | 352
1 Consolidated financial statements: Profit and equity is after deduction of non-controlling interests.
POSO: Posojilnica Bank eGen, Klagenfurt (AT) PSS: Prva stavebna sporitelna a.s., Bratislava (SK) RIZ: Raiffeisen Informatik GmbH & Co KG, Vienna (AT) R-Leasing: Raiffeisen-Leasing Management GmbH, Vienna (AT) UNIQA: UNIQA Insurance Group AG, Vienna (AT)

Impairment test for companies valued at equity
At the end of each reporting period an assessment is made whether there is any indication that the carrying amount of an
equity investment is higher than its recoverable amount. IAS 36 has a list of external and internal indicators of impairment. If
there is an indication that a company valued at equity may be impaired, then the asset's recoverable amount is calculated. The
following key assumptions have been made for the impairment test.

| 2025 | 2024
Cash generating units | LLI | OeKB | UNIQA | LLI | OeKB | UNIQA
Average discount interest rate (after tax) | 6.7% | 8.5% | 8.4% | 6.7% | 8.9% | 9.0%
Planning period | 5 years | 3 years | 5 years | 5 years | 3 years | 5 years
LLI: Leipnik-Lundenburger Invest Beteiligungs AG, Vienna (AT) - average discount rate WACC OeKB: Oesterreichische Kontrollbank Aktiengesellschaft, Vienna (AT) - average discount rate CoE UNIQA: UNIQA Insurance Group AG, Vienna (AT) - average discount rate CoE

The results showed a reversal of impairment for the majority of the investment portfolio based on the most recent impairment
tests. In this process, the ongoing replacement of low-interest assets had a positive impact on the earnings situation of the
bank holdings.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 419
Summary of significant planning assumptions and description of the management approach to identify the values:

Cash generating units | Brief description | Key assumptions | Management approach
Leipnik-Lundenburger Invest Beteiligungs AG (LLI) | In the two core areas of milling and vending (hot and cold) beverages and food from vending machines, the LLI companies are market leaders in Austria and in some EU countries (Eastern Europe and Germany). In addition to the two core areas, the at equity valued investments prove to be value drivers within LLI. | The planning assumptions approved by the supervisory board reflect the expected developments in raw material prices and costs, which are also reflected in the sales prices. | Planning includes actions to address current and expected market developments. In addition to cost savings and a suitable pricing strategy, these include further specializations, optimization through digitalization and the development of new products.
Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) | The OeKB fulfills two essential functions for the Austrian export industry and the capital market. As the export credit agency of the Republic of Austria, it provides state-guaranteed liabilities and refinances export-related investments and foreign transactions through the export financing process. Furthermore, the OeKB supports the capital market through specialized securities services, the settlement of federal bond auctions, and via its subsidiaries in the areas of custody and clearing. Its main subsidiaries are Österreichische Hotel- und Tourismusbank (OEHT) and Oesterreichische Entwicklungsbank (OeEB). | The planning assumptions take into account the development of volumes in export finance and have been adopted in the valuation approach. They show stable growth of loan volume over the following years. | The management approach reflects the current external conditions. The interest rate level as well as catch-up effects from previously postponed investments due to the inflationary environment of recent years have been taken into account in the planning assumptions. The existing mandates of the Republic of Austria provide a stable foundation for OeKB's business activities, which are complemented by additional services.
UNIQA Insurance Group AG (UNIQA) | UNIQA Insurance Group AG is one of the leading insurance groups in its core markets of Austria and CEE. The group is represented in 14 countries and serves more than 17 million customers. The brands UNIQA and Raiffeisen Versicherung are two strong insurance brands in Austria and are well positioned in the CEE markets. | By taking appropriate countermeasures, UNIQA intends to continue to pursue its long-term profitability targets despite the increasing cost pressure. In summary, despite the volatile environment, it is assumed that the long-term strategic orientation will be maintained and, accordingly, that long- term returns will remain stable. | The management approach was essentially adopted as the valuation approach. It is based on the continuation of the established strategic direction. Accordingly, ensuring a solid return on equity as well as a strong solvency position is fundamental. This forms the basis for sustainable dividend growth and a stable dividend yield.

Sensitivity analysis
In order to examine how a change in parameters essential for determining the cost of capital affects the value of equity, these
parameters were varied in the course of the sensitivity analysis carried out. Changes in the valuation of these companies may
therefore result in an adjustment to the carrying amount. In the event of a downside scenario (increase in the cost of capital by
50 basis points) the value in use of Leipnik-Lundenburger Invest Beteiligungs AG, Raiffeisen Leasing Management GmbH, Prva
stavebna sporitelna a.s, Oesterreichische Kontrollbank Aktiengesellschaft, Österreichische Hotel und Tourismusbank GmbH,
Posojilnica Bank eGen would decrease by less than 10 per cent, and that of Raiffeisen Informatik GmbH & Co KG by around 17
per cent, thus leading to a further reduction in the carrying amount. UNIQA Insurance Group AG, Notartreuhandbank AG and
EMCOM Beteiligungs GmbH are excluded from this scenario, a further decline in value would not lead to a reduction in the
carrying amount here as the value in use would still be higher than the proportionate equity.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
420 Consolidated financial statements
(25) Tangible and intangible fixed assets
Tangible fixed assets
Land and buildings as well as office furniture and equipment reported under tangible fixed assets are measured at cost of
acquisition or conversion less depreciation. Depreciation is recorded under the item general administrative expenses. The
straight-line method is used for depreciation and is based on the following useful life figures:

Useful life | Years
Buildings | 25 – 50
Office furniture and equipment | 5 – 10
Hardware | 3 – 7
Right-of-use assets | 2 – 35

Land is not subject to depreciation.
Expected useful lives, residual values and depreciation methods are reviewed annually. Any necessary future change of
estimates is taken into account.
Any anticipated permanent impairment is reported in the income statement and shown under the item impairment on non-
financial assets. In case that the reason for the impairment no longer exists, a write-up will take place up to a maximum of the
amount of the amortized cost of the asset.
A tangible fixed asset is derecognized on disposal or when no future economic benefit can be expected from the continued use
of the asset. The resulting gain or loss from the sale or retirement of any asset is determined as the difference between the
proceeds and the carrying amount of the asset and is recognized in other net operating income.
Investment property
This is property that is held to earn rental income and/or for capital appreciation. Investment property is reported at
amortized cost using the cost model permitted by IAS 40 and is shown under tangible fixed assets because of minor
importance. Straight line depreciation is based on the useful life. The normal useful life of investment property is identical to
that of buildings recognized under tangible fixed assets. Depreciation is recorded under the item general administrative
expenses. Impairments that are expected to be permanent are recognized in profit or loss and shown in the item impairment
on non-financial assets. If the reasons for the impairment cease to exist, a write-up is made up to the amortized acquisition
costs.
Investment property is derecognized on disposal or when it is no longer to be used and no future economic benefit can be
expected from disposal. The resulting gain or loss from the disposal is determined as the difference between the net proceeds
from the disposal and the carrying amount of the asset and is recognized in other net operating income in the reporting period
in which the asset was sold.
Intangible fixed assets
Acquired intangible fixed assets
In RBI, separately acquired intangible fixed assets, i.e. those with a definite useful life not acquired in a business combination,
are capitalized at acquisition cost less accumulated amortization and impairment. Amortization is accrued in a straight line
over the expected useful life and reported as an expense in the income statement. The expected useful life and the
depreciation method are reviewed at each reporting date and any possible changes in measurement taken into account
prospectively. Separately acquired intangible fixed assets with an indefinite useful life are capitalized at acquisition cost less
accumulated impairment. The normal useful life of software is between four and six years. The normal useful life for large
software projects may extend over a longer period.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 421
Internally developed intangible fixed assets – research and development costs
Internally developed intangible assets comprise exclusively software and are capitalized if it is probable that the future
economic benefits attributable to the asset will accrue to RBI and the cost of the asset can be measured reliably. Expenses for
research are recognized as an expense when they are incurred.
An internally developed intangible fixed asset resulting from development activities or from the development stage of an
internal project is capitalized when the following evidence is provided:
· The final completion of the intangible fixed asset is technically feasible so that it will be available for use or sale.
· It is intended to finally complete the intangible fixed asset and to use or to sell it.
· The ability exists to use or to sell the intangible fixed asset. The intangible fixed asset is likely to generate future
economic benefit.
· The availability of adequate technical, financial, and other resources required to complete development and to use
or sell the intangible fixed asset is assured.
· The ability exists to reliably determine the expenditure incurred during the development of the intangible fixed asset.
The amount at which an internally developed intangible fixed asset is initially capitalized is the sum of all expenses incurred
beginning from the day on which the aforementioned conditions are initially met. If an internally developed intangible fixed
asset cannot be capitalized, or if there is not yet an intangible fixed asset, the development costs are reported in the income
statement for the reporting period in which they are incurred.
Capitalized development costs are generally amortized in the Group in a straight line over a useful life of five years. The normal
useful life of software is between four and six years. The normal useful life for large software projects may extend over a
longer period.
Intangible fixed assets acquired in a business combination
In RBI, intangible fixed assets acquired in a business combination are reported separately from goodwill and are measured at
fair value at the time of acquisition. Goodwill and other intangible fixed assets without definite useful lives are tested for
impairment at each reporting date. Impairment tests are also performed whenever certain events (trigger events) occur during
the year. Whenever circumstances indicate that the expected benefit no longer exists, impairment must be recognized
pursuant to IAS 36. Intangible fixed assets with a definite useful life are amortized over the period during which the intangible
fixed asset can be used.
Group companies use brands to differentiate their services from the competition. According to IFRS 3, brands of acquired
companies are recognized separately under the item intangible fixed assets. Brands have an indeterminable useful life and are
therefore not subject to scheduled amortization. Brands are to be tested annually for impairment and additionally whenever
indications of impairment arise.
Core deposits acquired as part of a business combination are reported separately under intangible fixed assets in accordance
with IFRS 3. The core deposits were based on a useful life of ten years. The core deposits represent the present value of the
cost savings obtained by subtracting the costs of the core deposits from the costs for an equivalent amount of funds from an
alternative market source. The intangible value of the core deposits stems from the fact that the core deposits are a cost-
effective stable funding source. The core deposits were measured using the discounted cash flow (DCF) method in which the
forecast cost savings are discounted using the cost of equity.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
422 Consolidated financial statements
Presentation of tangible and intangible assets

in € million | 2025 | 2024
Tangible fixed assets | 1,729 | 1,683
Land and buildings used by the group for own purpose | 484 | 470
Office furniture, equipment and other tangible fixed assets | 370 | 335
Investment property | 336 | 385
Other leased assets (operating lease) | 161 | 121
Right-of-use assets | 378 | 372
Intangible fixed assets | 1,108 | 1,003
Software | 1,011 | 890
Goodwill | 38 | 38
Brand | 1 | 1
Customer relationships | 7 | 9
Core deposits intangibles | 38 | 44
Other intangible fixed assets | 13 | 21
Total | 2,837 | 2,686
Fair value of investment property | 507 | 540

| Cost of acquisition or conversion |  |
in € million | As at 1/1/2025 | Change in consolidated group | Exchange differences | Additions | Disposals | Transfers | As at 31/12/2025
Tangible fixed assets | 3,441 | (32) | 77 | 384 | (212) | 0 | 3,657
Land and buildings used by the group for own purpose | 938 | 9 | 24 | 35 | (14) | (5) | 987
Office furniture, equipment and other tangible fixed assets | 973 | 0 | 35 | 171 | (121) | 0 | 1,058
Investment property | 555 | (50) | (3) | 12 | (6) | 4 | 512
Other leased assets (operating lease) | 236 | 0 | 4 | 84 | (35) | 0 | 288
Right-of-use assets | 740 | 8 | 18 | 83 | (35) | 0 | 813
Intangible fixed assets | 3,248 | (2) | 83 | 375 | (121) | 0 | 3,583
Software | 2,679 | (1) | 61 | 365 | (107) | 0 | 2,998
Goodwill | 425 | 0 | 18 | 0 | 0 | 0 | 442
Brand | 3 | 0 | 0 | 0 | 0 | 0 | 3
Customer relationships | 23 | 0 | 1 | 0 | 0 | 0 | 23
Core deposits intangibles | 67 | 0 | 2 | 0 | 0 | 0 | 70
Other intangible fixed assets | 52 | (1) | 0 | 10 | (14) | 0 | 48
Total | 6,689 | (34) | 160 | 759 | (333) | 0 | 7,241

| Write-ups, amortization, depreciation, impairment | Carrying amount
in € million | Cumulative | hereof write- ups | hereof depreciation/ impairment | As at 31/12/2025
Tangible fixed assets | (1,929) | 5 | (243) | 1,729
Land and buildings used by the group for own purpose | (502) | 4 | (33) | 484
Office furniture, equipment and other tangible fixed assets | (688) | 0 | (99) | 370
Investment property | (176) | 0 | (10) | 336
Other leased assets (operating lease) | (127) | 0 | (22) | 161
Right-of-use assets | (435) | 0 | (79) | 378
Intangible fixed assets | (2,476) | 1 | (270) | 1,108
Software | (1,987) | 1 | (256) | 1,011
Goodwill | (404) | 0 | 0 | 38
Brand | (2) | 0 | 0 | 1
Customer relationships | (17) | 0 | (3) | 7
Core deposits intangibles | (32) | 0 | (7) | 38
Other intangible fixed assets | (35) | 0 | (4) | 13
Total | (4,404) | 6 | (513) | 2,836

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 423

| Cost of acquisition or conversion |  |
in € million | As at 1/1/2024 | Change in consolidated group | Exchange differences | Additions | Disposals | Transfers | As at 31/12/2024
Tangible fixed assets | 3,402 | (34) | (74) | 374 | (225) | (2) | 3,441
Land and buildings used by the group for own purpose | 934 | 21 | (21) | 32 | (27) | (2) | 938
Office furniture, equipment and other tangible fixed assets | 1,004 | (43) | (36) | 180 | (133) | 0 | 973
Investment property | 571 | (33) | (1) | 21 | (5) | 1 | 555
Other leased assets (operating lease) | 220 | 0 | (2) | 51 | (33) | 0 | 236
Right-of-use assets | 674 | 20 | (16) | 89 | (26) | (2) | 740
Intangible fixed assets | 3,114 | (51) | (73) | 351 | (93) | 0 | 3,248
Software | 2,525 | (48) | (58) | 339 | (80) | 0 | 2,679
Goodwill | 438 | 0 | (13) | 0 | 0 | 0 | 425
Brand | 3 | 0 | 0 | 0 | 0 | 0 | 3
Customer relationships | 26 | 0 | 0 | 0 | (3) | 0 | 23
Core deposits intangibles | 68 | 0 | (1) | 0 | 0 | 0 | 67
Other intangible fixed assets | 54 | (3) | 0 | 12 | (10) | 0 | 52
Total | 6,516 | (85) | (147) | 725 | (319) | (2) | 6,689

| Write-ups, amortization, depreciation, impairment | Carrying amount
in € million | Cumulative | hereof write- ups | hereof depreciation/ impairment | As at 31/12/2024
Tangible fixed assets | (1,758) | 0 | (230) | 1,683
Land and buildings used by the group for own purpose | (469) | 0 | (25) | 470
Office furniture, equipment and other tangible fixed assets | (637) | 0 | (97) | 335
Investment property | (169) | 0 | (12) | 385
Other leased assets (operating lease) | (115) | 0 | (18) | 121
Right-of-use assets | (367) | 0 | (79) | 372
Intangible fixed assets | (2,246) | 4 | (245) | 1,003
Software | (1,788) | 2 | (231) | 890
Goodwill | (387) | 0 | 0 | 38
Brand | (2) | 0 | 0 | 1
Customer relationships | (13) | 0 | (3) | 9
Core deposits intangibles | (24) | 0 | (7) | 44
Other intangible fixed assets | (32) | 1 | (3) | 21
Total | (4,003) | 4 | (476) | 2,686

Software

in € million | 2025 | 2024
Acquired software | 644 | 608
Internally developed software | 367 | 282

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
424 Consolidated financial statements
Goodwill
The carrying amount of the goodwill as well as the gross amounts of and the accumulated impairment on the goodwill
developed for the cash generating units as follows:

2025 |  |  |  |  |  |
in € million | AKCENTA | RBRS | RBCZ | RKAG | Other | Total
As at 1/1 | 8 | 2 | 0 | 27 | 1 | 38
Additions | 0 | 0 | 0 | 0 | 0 | 0
Merger | 0 | 0 | 0 | 0 | 0 | 0
Impairment | 0 | 0 | 0 | 0 | 0 | 0
Exchange rate changes | 0 | 0 | 0 | 0 | 0 | 0
As at 31/12 | 9 | 2 | 0 | 27 | 1 | 38
Gross amount | 9 | 10 | 63 | 54 | 306 | 442
Accumulated impairment¹ | 0 | (8) | (63) | (27) | (305) | (404)
1 Calculated with average exchange rates AKCENTA: Akcenta CZ a.s., Prague (CZ) RBRS: Raiffeisen banka a.d., Belgrade (RS) RBCZ: Raiffeisenbank a.s., Prague (CZ) RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT)

2024 |  |  |  |  |  |
in € million | AKCENTA | RBRS | RBCZ | RKAG | Other | Total
As at 1/1 | 9 | 2 | 0 | 27 | 1 | 38
Additions | 0 | 0 | 0 | 0 | 0 | 0
Merger | 0 | 0 | 0 | 0 | 0 | 0
Impairment | 0 | 0 | 0 | 0 | 0 | 0
Exchange rate changes | 0 | 0 | 0 | 0 | 0 | 0
As at 31/12 | 8 | 2 | 0 | 27 | 1 | 38
Gross amount | 8 | 10 | 61 | 54 | 291 | 425
Accumulated impairment¹ | 0 | (8) | (61) | (27) | (290) | (387)
1 Calculated with average exchange rates AKCENTA: Akcenta CZ a.s., Prague (CZ) RBRS: Raiffeisen banka a.d., Belgrade (RS) RBCZ: Raiffeisenbank a.s., Prague (CZ) RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT)

Impairment test for goodwill
On each reporting date, goodwill is examined with a view to its future economic utility on the basis of cash generating units
(CGU's). A cash generating unit is defined by the management and represents the smallest identifiable group of assets of a
company that generates cash inflows from operations. Within RBI, all segments according to segment reporting are
determined as cash generating units. Legal entities within the segments form their own CGU for the purpose of impairment
testing of goodwill. The carrying amount of the relevant entity (including any assigned goodwill) is compared with its
recoverable amount. This is, as a general principle, defined as the higher of the fair value less selling costs and the amount
resulting from its value in use. The value in use is based on expected potential dividends discounted using a rate of interest
reflecting the risk involved. The estimation of the future results requires an assessment of previous as well as future
performance. The latter must consider the likely development of the relevant markets and the overall macroeconomic
environment.
Impairment tests for goodwill based on cash-generating units use a multi-year plan drawn up by the relevant management
team and approved by the bodies responsible. This covers the CGU's medium-term prospects for success taking into account
its business strategy, overall macroeconomic conditions (gross domestic product, inflation expectations, etc.) and the specific
market circumstances. The data is then used to capture the terminal value based on a going concern concept. Discounting of
the earnings relevant for the measurement, i.e. potential dividends, is undertaken using risk-adapted and country-specific
equity capital cost rates determined by means of the capital asset pricing model. The individual interest rate parameters (risk-
free interest rate, inflation difference, market risk premium, country-specific risks, and beta factors) were defined by using
external information sources. The entire planning horizon is divided into three phases with phase I covering the management
planning period of three years. Detailed planning, including macroeconomic planning data, is extrapolated in phase II, which
lasts another two years. The terminal value is then calculated in phase III based on the assumption of a going concern. In line
with IAS 36, impairment tests for goodwill are carried out during the year if a reason for impairment occurs.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 425
Key assumptions

| 2025 | 2024
Cash generating units | RKAG | RBRS | AKCENTA | RKAG | RBRS | AKCENTA
Average discount interest rate (after tax) | 9.7% | 14.0% | 10.3% | 10.2% | 15.4% | 11.1%
Growth rates in phase I and II (5 years) p.a.¹ | 3.7% | 5.5% | n/a | 3.5% | 4.2% | n/a
Growth rates in phase III (terminal value) p.a. | 2.0% | 3.5% | 2.0% | 2.0% | 3.5% | 2.0%
1 Growth rates are based on the future development of the dividend distribution, adjusted for irregular dividend distributions due to the economic environment. RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT) RBRS: Raiffeisen banka a.d., Belgrade (RS) AKCENTA: Akcenta CZ a.s., Prague (CZ)

Cash generating units | Key assumptions | Management approach | Risk estimation
RKAG | RKAG is one of Austria's leading fund/ asset management companies, that has been operating internationally for many years and is a well-known participant in various European countries. The development is expected to remain stable. Administrative expenses remain stable, with the exception of slight increase in the IT area. | The assumptions of planning are based on internal and external sources. Macroeconomic assumptions of the research department were compared with data from external sources and the five-year plan and are presented to the company's managers. The budget was approved by the Supervisory Board. | The main risk of the yields lies in the development of the funds volume, which in turn depends on the market and its development. Other influencing factors include future sales capacities, customer asset allocation and the level of achievable margins.
RBRS | Serbia is one of the focus countries for the Group.The market is expected to grow by 6.9 per cent (corporate) respectively 5.8 per cent (retail) in 2026. Margins are projected to decline slightly due to interest rate expectations, while profits remain stable. | The assumptions are based on both internal and external sources. Macroeconomic assumptions of the research department were compared with data from external sources and the five-year plan, presented to the Management Board and approved by the Supervisory Board. | Reference interest rates are expected to decline from 5.4 per cent in 2026 to 4.6 per cent in 2027. As a result, net interest income will also decline in the future. The earnings risk mainly relates to the interest rate and margin development of the RBRS portfolio.
AKCENTA | The Payment Service Providers (PSP) market in Central and Eastern Europe has grown significantly due to rising e- commerce, demand for digital payments, and government efforts to promote cashless transactions. Technological advances like mobile payments and digital wallets also boost this growth. The market is becoming more competitive, with local and international PSPs expanding and traditional banks lowering fees and FX margins to compete. In this context, Akcenta launched its Strategy 2027, continuing digital transformation with a new IT core system and focusing on faster, more transparent, and simpler services. | Akcenta offers competitive rates and lower fees than traditional institutions. It helps SMEs benefit from favorable currency exchanges and provides tools like forward contracts, options, and hedging to reduce currency risks. Akcenta guides SMEs through Forex complexities for effective international transaction management. Its value is in cost-effective, convenient foreign exchange solutions, letting SMEs focus on core operations. | As a result of its sound, sustainable financial performance as well as profit generating capacity, Akcenta boasts a solid financial base, substantially exceeding the regulatory capital requirements. Akcenta adheres to strict compliance and regulatory standards to ensure the security and integrity of its operations. This includes implementing measures to prevent money laundering, fraud, and other financial risks.
RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT) RBRS: Raiffeisen banka a.d., Belgrade (RS) AKCENTA: Akcenta CZ a.s., Prague (CZ) |  |

Sensitivity analysis
A sensitivity analysis was carried out based on the above-mentioned assumptions to evaluate the stability of the results of the
impairment test for goodwill. From several options for this analysis, one relevant parameter was selected, namely the cost of
equity. The following overview demonstrates to what extent an increase in the cost of equity could occur without the value in
use of cash generating units declining below the respective carrying amount (equity capital plus goodwill).

| 2025 | 2024
Maximum sensitivity | RKAG | RBRS | AKCENTA | RKAG | RBRS | AKCENTA
Increase in discount interest rate | 22.2 PP | 12.3 PP | 0.99 PP | 22.8 PP | 7.1 PP | 1.19 PP
RKAG: Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT) RBRS: Raiffeisen banka a.d., Belgrade (RS) AKCENTA: Akcenta CZ a.s., Prague (CZ)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
426 Consolidated financial statements
(26) Other assets

in € million | 2025 | 2024
Prepayments and other deferrals | 395 | 340
Merchandise inventory and suspense accounts for services rendered not yet charged out | 168 | 201
Non-current assets and disposal groups classified as held for sale | 4 | 9
Other assets | 781 | 1,095
Total | 1,348 | 1,645

Non-current assets and disposal groups classified as held for sale
Non-current assets and disposal groups are classified as held for sale when the related carrying amount will be recovered
principally through a sale transaction rather than through continuing use. This condition is only considered met if the sale is
highly probable and the asset (or disposal groups) is immediately available for sale and management has adopted a plan to
sell the asset (or disposal group). Moreover, the sale transaction must be highly probable of being recognized as a completed
sale within twelve months of the classification.
Non-current assets and disposal groups classified as held for sale are valued at the lower amount of their original carrying
amount or fair value less costs to sell and are reported under the item non-current assets and disposal groups classified as
held for sale. Income from non-current assets held for sale and discontinued operations is reported in the other result. If the
impairment expense of the discontinued operations exceeds the carrying amount of the assets which fall under the scope of
IFRS 5, there is no special provision in the IFRS on how to deal with this difference. Based on internal accounting policy this
difference would be recognized in the item provisions for onerous contracts in the statement of financial position.
In the case that the Management Board has adopted a plan for the sale, and aforementioned conditions are met, all assets
and liabilities of the subsidiary will be recognized as held for sale. This applies irrespective of whether the Group retains a non-
controlling interest in the former subsidiary after the sale or not. Results from discontinued business operations are reported
separately in the income statement as gains/losses from discontinued operations.
The item non-current assets and disposal groups classified as held for sale includes three properties in Croatia. In the previous
year, one property in Serbia was reported under this item.
(27) Provisions
Provisions are recognized when the Group has a present obligation from a past event, where it is likely that it will be obliged to
settle, and a reliable estimate of the amount is possible. The level of provisions is the best possible estimate of expected
outflow of economic benefits at the reporting date while taking into account the risks and uncertainties underlying the
commitment to fulfill the obligation. If a provision is formed based on cash flows estimated to fulfill an obligation, the cash
flows must be discounted if the interest effect is material.
Allocation of provisions is booked through different line items in the income statement depending on the nature of the
provision. Allocation of loan loss provisions for contingent liabilities is recorded in the income statement under the item
impairment losses on financial assets. Restructuring provisioning and other employee benefits are allocated in general
administrative expenses. Provision allocations that are not assigned to general administrative expenses are as a matter of
principle booked against other net operating income.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 427

in € million | 2025 | 2024
Provisions for off-balance sheet items | 219 | 183
Other commitments and guarantees given according to IFRS 9 | 219 | 182
Other commitments and guarantees given according to IAS 37 | 0 | 0
Provisions for staff | 525 | 478
Pensions and other post employment defined benefit obligations | 145 | 168
Other long-term employee benefits | 38 | 41
Bonus payments | 336 | 266
Termination benefits | 7 | 3
Other provisions | 1,930 | 2,241
Pending legal issues and tax litigation | 1,716 | 2,025
Restructuring | 3 | 3
Onerous contracts | 57 | 59
Other provisions | 154 | 155
Total | 2,675 | 2,902

Provisions decreased by € 227 million to € 2,675 million. The decrease was mainly due to the utilization of the provision for
Rasperia amounting to € 840 million created in the previous year. This decrease was partially offset by the allocation of a
provision related to a second Rasperia case amounting to € 339 million. In Poland, provisions relating to mortgage loans in
foreign currency increased by € 208 million (previous year: € 561 million) in accordance with IAS 37.
Taking into account the intra-year changes in the foreign currency portfolio, the provisions in Poland increased by
approximately € 17 million during the reporting period due to changes in the discount rate, while the changes arising from the
passage of time resulted in a decrease of about € 6 million. Further details on both matters can be found in note (45) Pending
legal issues.

in € million | As at 1/1/2025 | Change in consolidated group | Allocation | Release | Usage | Transfers, exchange differences | As at 31/12/2025
Provisions for off-balance sheet items 1 | 0 | 0 | 0 | (1) | 0 | 0 | 0
Other commitments and guarantees given according to IAS 37 | 0 | 0 | 0 | (1) | 0 | 0 | 0
Provisions for staff | 478 | 0 | 266 | (16) | (229) | 26 | 525
Pensions and other post employment defined benefit obligations | 168 | 0 | (10) | (2) | (12) | 0 | 145
Other long-term employee benefits | 41 | 0 | 1 | (1) | (3) | 0 | 38
Bonus payments | 266 | 1 | 269 | (13) | (214) | 26 | 336
Termination benefits | 3 | 0 | 6 | 0 | (1) | 0 | 7
Other provisions | 2,241 | (1) | 861 | (52) | (1,136) | 17 | 1,930
Pending legal issues and tax litigation | 2,025 | 0 | 773 | (13) | (1,085) | 17 | 1,716
Restructuring | 3 | 0 | 3 | 0 | (2) | 0 | 3
Onerous contracts | 59 | 0 | 1 | (4) | 0 | 0 | 57
Other provisions | 155 | (1) | 84 | (35) | (49) | 0 | 154
Total | 2,720 | 0 | 1,127 | (69) | (1,365) | 43 | 2,456
1 Provisions for off-balance-sheet items pursuant to IFRS 9 are not included and due to a more granular presentation broken down by stages under (30) Loan commitments, financial guarantees and other commitments.

in € million | As at 1/1/2024 | Change in consolidated group | Allocation | Release | Usage | Transfers, exchange differences | As at 31/12/2024
Provisions for off-balance sheet items 1 | 2 | 0 | 0 | (2) | 0 | 0 | 0
Other commitments and guarantees given according to IAS 37 | 2 | 0 | 0 | (2) | 0 | 0 | 0
Provisions for staff | 507 | (18) | 228 | (18) | (205) | (16) | 478
Pensions and other post employment defined benefit obligations | 182 | (15) | 13 | 0 | (13) | 1 | 168
Other long-term employee benefits | 47 | 0 | 7 | (9) | (4) | 0 | 41
Bonus payments | 275 | (3) | 208 | (8) | (188) | (17) | 266
Termination benefits | 3 | 0 | 1 | (1) | (1) | 0 | 3
Other provisions | 931 | (12) | 1,755 | (120) | (247) | (67) | 2,241
Pending legal issues and tax litigation | 636 | (1) | 1,586 | (6) | (147) | (43) | 2,025
Restructuring | 6 | 0 | 1 | (3) | (1) | 0 | 3
Onerous contracts | 60 | 0 | 0 | 0 | (1) | 0 | 59
Other provisions | 229 | (11) | 168 | (111) | (98) | (23) | 155
Total | 1,441 | (30) | 1,984 | (140) | (452) | (83) | 2,720
1 Provisions for off-balance-sheet items pursuant to IFRS 9 are not included and due to a more granular presentation broken down by stages under (30) Loan commitments, financial guarantees and other commitments.

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
428 Consolidated financial statements
Pension obligations and other termination benefits
All defined benefit plans relating to so-called social capital (provisions for pensions, provisions for severance payments and
provisions for service anniversary bonuses) are measured using the Projected Unit Credit Method in accordance with IAS 19 –
Employee Benefits. The biometrical basis for the calculation of provisions for pensions, severance payments and service
anniversary bonuses for Austrian companies is provided by AVÖ 2018-P-Rechnungsgrundlagen für die Pensionsversicherung
(Computational Framework for Pension Insurance), using the relevant parameters for salaried employees. In other countries,
comparable actuarial parameters are used for calculation. The following significant personnel provisions were created in the
2025 financial year:
· Defined benefit pension plans in Austria and other countries
· Other post-employment benefits in Austria and other countries
These defined benefit plans and other post-employment benefits expose the Group to actuarial risks, such as longevity risk,
currency risk, interest rate risk and market (investment) risk.
A liability and expense is recognized for termination benefits when RBI can no longer withdraw the offer of those benefits.
Where the benefits are not expected to be settled within 12 months of the reporting date they are discounted.
Funding
For pensions there are different plans: unfunded, partly funded and fully funded. The partly and fully funded plans are all
invested by Valida Pension AG. Valida Pension AG is a pension fund and is subject in particular to the provisions of the Pension
Act and Company Pension Act.
The Group expects to pay € 462 thousand in contributions to its defined benefit plans for the following financial year.
Pension obligations/defined benefit pension plans
Financial status

in € million | 2025 | 2024
Defined benefit obligation (DBO) | 113 | 128
Fair value of plan assets | (36) | (37)
Net liabilities/assets | 77 | 91

Defined benefit obligations

in € million | 2025 | 2024
Defined benefit obligation as at 1/1 | 128 | 147
Change in consolidated group | 0 | (14)
Exchange differences | 0 | -1
Current service cost | 1 | 1
Interest cost | 4 | 5
Payments | (8) | (9)
Loss/gain on DBO due to past service cost | 0 | 0
Transfer | (2) | (1)
Remeasurements | (10) | 1
Defined benefit obligation as at 31/12 | 113 | 128

The deconsolidation of the Belarusian Group units was reported under change in consolidated group in the previous year.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 429
Plan assets

in € million | 2025 | 2024
Plan assets as at 1/1 | 37 | 37
Interest income | 1 | 1
Contributions to plan assets | 0 | 1
Plan payments | (2) | (2)
Transfer | (1) | (3)
Return on plan assets excl. interest income | 1 | 4
Plan assets as at 31/12 | 36 | 37
Return on plan assets | 2 | 5
Fair value of rights to reimbursement recognized as an asset | 8 | 9

Structure of plan assets

in per cent | 2025 | 2024
Debt securities | 28 | 35
Shares | 35 | 31
Alternative Investments | 9 | 5
Real estate | 6 | 5
Cash | 22 | 25
Total | 100 | 100

Asset-Liability Matching
The pension provider Valida Pension AG has established an asset/risk management process (ARM process). According to this
process, the risk-bearing capacity of each fund is evaluated once a year based on the liability structure of investment and risk
associations, which itself is derived from the statement of financial position. Based on this risk-bearing capacity, the
investment structure of the fund is derived. When determining the investment structure, defined and documented customer
requirements are considered.
The defined investment structure is implemented in the two funds named VRG 60 and VRG 7, in which the accrued amounts for
RBI are invested with an investment concept. The weighting of predefined asset classes moves within a range according to
objective criteria, which can be derived from market trends. In times of stress, hedges of the equity component are put in
place.
Actuarial assumptions
The actuarial assumptions used to calculate the net defined, long-term benefit obligation:

in per cent | 2025 | 2024
Discount rate | 3.5-6.0 | 3.0-6.0
Future pension basis increase | 0.5-4.0 | 0.5-3.1
Future pension increase | 0.5-4.0 | 0.5-3.1

The actuarial calculation of pension obligations at head office is based on a discount rate of 4.05 per cent (previous year: 3.28
per cent) p.a. and effective pensionable salary increases, and pension increases of 3.0 per cent in the first year, 2.1 per cent in
the second year and 2.3 per cent in the subsequent years (previous year: 4.1 per cent in the first year, 3.2 per cent in the second
year and 3.1 per cent in subsequent years).
The longevity assumptions used to calculate the net defined benefit obligation:

Years | 2025 | 2024
Longevity at age 65 for current pensioners - males | 23.8 | 23.6
Longevity at age 65 for current pensioners - females | 26.2 | 26.3
Longevity at age 65 for current members aged 45 - males | 26.4 | 26.1
Longevity at age 65 for current members aged 45 - females | 28.6 | 28.5

The weighted average duration of the net defined benefit obligation was 8.6 years (previous year: 10.2 years).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
430 Consolidated financial statements
Sensitivity analysis
Changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have
affected the defined benefit obligation for Austrian companies by the amounts shown below:

in € million | 2025 | 2024
| Increase | Decrease | Increase | Decrease
Discount rate (1 percentage point change) | (7) | 8 | (9) | 11
Future salary growth (0.5 percentage point change) | 0 | 0 | 0 | 0
Future pension increase (0.25 percentage point change) | 2 | (2) | 3 | (2)
Remaining life expectancy (change 1 year) | 5 | (6) | 7 | (8)

Other termination benefits

in € million | 2025 | 2024
Defined benefit obligation as at 1/1 | 77 | 72
Change in consolidated group | 0 | 0
Current service cost | 4 | 3
Interest cost | 2 | 3
Payments | (5) | (5)
Loss/gain on DBO due to past service cost | 0 | 0
Transfers | 0 | 0
Remeasurements | (10) | 3
Defined benefit obligation as at 31/12 | 68 | 77

Actuarial assumptions
The long-term actuarial assumptions used to calculate the other termination benefits:

in per cent | 2025 | 2024
Discount rate | 3.5-4.3 | 3.0-3.4
Additional future salary increase for employees | 0.5-4.0 | 0.5-5.0

Employee benefit expenses
Details of employee benefit expenses (expenses for defined benefit pension plans, other benefits due to termination of
employment) are stated under (7) General administrative expenses.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 431
(28) Other liabilities

in € million | 2025 | 2024
Provisions for overdue vacations | 73 | 74
Liabilities from insurance activities | 261 | 250
Deferred income and accrued expenses | 547 | 571
Sundry liabilities | 713 | 767
Total | 1,594 | 1,663

Insurance business
RBI’s insurance business consists of pension insurance products in Croatia. Due to the existence of insurance risk and
investment risk in these products, it is necessary to apply IFRS 17 for the accounting of the resulting liabilities. All assets related
to the provision of pension products are accounted for under IFRS 9. The following table shows an analysis of the change in
insurance contract liabilities:

in € million | Estimates of the present value of the future cash flows | Risk adjustment | Contractual service margin | Liability
As at 1/1/2025 | 216 | 8 | 27 | 250
Change in consolidated group | 0 | 0 | 0 | 0
Insurance service result | (1) | 0 | 1 | 0
Insurance finance expenses | (9) | 0 | 0 | (9)
Total changes in the profit and loss | (10) | 0 | 1 | (9)
Premiums received | 47 | 0 | 0 | 47
Claims, benefits and other expenses paid | (27) | 0 | 0 | (27)
Total cash flows | 20 | 0 | 0 | 20
Effect of exchange rate changes | 0 | 0 | 0 | 0
As at 31/12/2025 | 226 | 8 | 28 | 261

in € million | Estimates of the present value of the future cash flows | Risk adjustment | Contractual service margin | Liability
As at 1/1/2024 | 246 | 7 | 28 | 280
Change in consolidated group | (54) | 0 | (2) | (56)
Insurance service result | (3) | 1 | 1 | (1)
Insurance finance expenses | 6 | 0 | 0 | 6
Total changes in the profit and loss | 3 | 1 | 1 | 5
Premiums received | 46 | 0 | 0 | 46
Claims, benefits and other expenses paid | (26) | 0 | 0 | (26)
Total cash flows | 20 | 0 | 0 | 20
Effect of exchange rate changes | 0 | 0 | 0 | 0
As at 31/12/2024 | 216 | 8 | 27 | 250

This table presents the development of the liability from the beginning of the period considering the net cash flows and P&L
effects. From the IFRS 17 view, the total liability is split into three parts. The first part contains mainly the best estimate of the
reserve for future liabilities, i.e. the present value of future annuities and future expenses. On top of that an additional risk
adjustment is added, which represents the non-financial components of the reserve (e.g. longevity, mortality, expense
assumption). The reserve plus risk adjustment are the liability (cash outflow) towards third persons. The contractual service
margin is the expected future profit.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
432 Consolidated financial statements
Analysis of the development of liabilities for remaining coverage and for incurred claims:

in € million | Liabilities for remaining coverage | Liabilities for incurred claims | Total
Excluding onerous contracts component | Onerous contracts component
As at 1/1/2025 | 250 | 0 | 0 | 250
Change in consolidated group | 0 | 0 | 0 | 0
Insurance revenue | (6) | 0 | 0 | (6)
Insurance service expenses | 0 | 0 | 5 | 6
Insurance service result | (27) | 0 | 27 | 0
Insurance finance expenses | (9) | 0 | 0 | (9)
Total changes in the profit and loss | (36) | 0 | 27 | (9)
Premiums received | 47 | 0 | 0 | 47
Claims, benefits and other expenses paid | 0 | 0 | (27) | (27)
Total cash flows | 47 | 0 | (27) | 20
Effect of exchange rate changes | 0 | 0 | 0 | 0
As at 31/12/2025 | 261 | 0 | 0 | 261

in € million | Liabilities for remaining coverage | Liabilities for incurred claims | Total
Excluding onerous contracts component | Onerous contracts component
As at 1/1/2024 | 279 | 2 | 0 | 280
Change in consolidated group | (54) | (2) | 0 | (56)
Insurance revenue | (6) | 0 | 0 | (6)
Insurance service expenses | 0 | 0 | 5 | 5
Insurance service result | (27) | 0 | 26 | (1)
Insurance finance expenses | 6 | 0 | 0 | 6
Total changes in the profit and loss | (21) | 0 | 26 | 5
Premiums received | 46 | 0 | 0 | 46
Claims, benefits and other expenses paid | 0 | 0 | (26) | (26)
Total cash flows | 46 | 0 | (26) | 20
Effect of exchange rate changes | 0 | 0 | 0 | 0
As at 31/12/2024 | 250 | 0 | 0 | 250

Liabilities for remaining coverage relate to future payouts and liabilities for incurred claims relate to past claims. The onerous
contract component occurs when pricing is too low due to market development and the contracts becoming onerous.
Insurance revenue consists mainly of revenue for coverage provided in the period and revenue from release of risk adjustment
in the period. Insurance service expenses consist of claims and other insurance service expenses as well as changes in cash
flows and risk adjustments that relate to coverage provided in the period and in the past. The insurance finance expenses
relate to the unwinding of discount rates and the change in discount rates.
Fulfillment cash flows
Fulfillment cash flows comprise estimates of future cash flows, an adjustment to reflect the time value of money and the
financial risks related to the future cash flows (discounting) and a risk adjustment for non-financial risk. The time value of
money and financial risks consist of the risk-free rate which is derived from the Eurozone issuance curve with a credit risk
adjustment. On top of the risk-free rate the illiquidity premium is added. The illiquidity premium is derived from alternative
investments with the illiquidity characteristic of the portfolio again with the appropriate credit adjustment.
The following table provides information on the yield curves used to discount estimated future cash flows:

| 1 year | 5 years | 10 years | 20 years | 30 years
Croatia | 3.4% | 3.8% | 4.4% | 4.9% | 5.1%

The risk adjustment for non-financial risk is the compensation required for bearing the uncertainty about the amount and
timing of the cash flows that arises from non-financial risks in insurance contracts. The risk margin is calculated based on a
cost of capital approach.
The mortality tables used are composed out of the official ones from the Croatian Bureau of Statistics. The calculation of the
probability of termination and of the expected expenses is based on historical data. Forecasted investment income is
calculated based on companies’ current investment portfolio.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 433
Risks in the insurance business
RBI’s insurance business comprises pension insurance, where interest rate and future expense risk are the main risks.
· Interest rate risk – the risk of change of the market observable rates
· Mortality risk – the risk of loss or adverse changes of insurance obligations’ value because of mortality rate changes
· Longevity risk – the risk that future expenses for pension payments will increase due to decrease of mortality rates
· Future cost risk – the risk of increase of future expenses has an impact on the contractual service margin.
RBI does not use reinsurance contracts to mitigate the risk but mitigates the risk by portfolio mix.
Sensitivity to the above risks is very low due to the absorbing effect of the contractual service margin and no onerous
contracts, therefore, it is not shown here.
(29) Equity and non-controlling interests
RBI applies IAS 32 to decide whether to classify as financial liability or equity. Financial instruments issued are classified as
liabilities if the contractual agreement results in RBI being committed to either deliver cash or another financial asset or a
variable number of equity shares to the holder of the instrument. If this is not the case the instrument is classified as an equity
instrument and the proceeds, net of transaction costs, are recognized in equity.

in € million | 2025 | 2024
Consolidated equity | 19,452 | 17,299
Subscribed capital | 1,001 | 1,002
Capital reserves | 4,986 | 4,990
Retained earnings | 17,127 | 16,213
hereof consolidated profit/loss | 1,371 | 1,157
Cumulative other comprehensive income | (3,661) | (4,905)
Non-controlling interests | 1,386 | 1,260
Additional tier 1 | 1,625 | 1,781
Total | 22,463 | 20,340

The development of equity is shown in chapter statement of changes in equity.
The list of all companies which were included in the scope of consolidation for the first time can be found in chapter
consolidated group.
The consolidated return on equity amounted to 6.9 per cent in the financial year (previous year: 9.4 per cent). This decreased
primarily due to the lower consolidated result, which was caused by the negative impact of the two Rasperia proceedings, and
the 10 per cent increase in the average equity base. The return on total assets calculated in accordance with § 64 (1) 19 BWG
was 0.65 per cent (previous year: 0.58 per cent).
Subscribed capital
As at 31 December 2025, the company’s share capital amounted to € 1,003,265,844.05 and was divided into 328,939,621 voting
common bearer shares. As at 31 December 2025, 698,767 (31 December 2024: 525,274) of those were own shares, and
consequently 328,240,854 shares were outstanding at the reporting date.
Own shares
At the reporting date, own shares of RBI AG are deducted directly from equity. Gains and losses on own shares have no impact
on the income statement.
The Annual General Meeting held on 4 April 2024 authorized the Management Board pursuant to § 65 (1) 8, § 65 (1a) and § 65 (1b)
of the AktG to purchase own shares and to retire them if appropriate without requiring any further prior resolutions to be
passed by the Annual General Meeting, though with the approval of the purchase by the Supervisory Board can also be
effected off-exchange under the exclusion of the shareholders’ pro rata tender right. Own shares, whether already purchased
or to be purchased, may not collectively exceed 10 per cent of the company’s share capital. The authorization to purchase own
shares expires 30 months after the date of the Annual General Meeting resolution, i.e. until 4 October 2026. The acquisition
price for repurchasing the shares may be no lower than € 3.05 per share and no higher than 10 per cent above the average
unweighted closing price over the 10 trading days prior to exercising this authorization. The authorization may be exercised in
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
434 Consolidated financial statements
full or in part or also in several partial amounts, for one or more purposes – with the exception of securities trading – by the
company, by a subsidiary (§ 189a (7) of the UGB) or by third parties for the account of the company or a subsidiary.
The Management Board was further authorized, pursuant to § 65 (1b) of the AktG, to decide, with the approval of the
Supervisory Board, on the sale of own shares by means other than the stock exchange or a public tender, to the full or partial
exclusion of shareholders’ subscription rights, and to stipulate the terms of sale. Shareholders’ subscription rights may only be
excluded if the own shares are used to pay for a contribution in kind, to acquire enterprises, businesses, operations or stakes in
one or several companies in Austria or abroad. Furthermore, shareholders’ subscription rights may be excluded in the event
that convertible bonds are issued in future, in order that (own) shares may be issued to such convertible bond creditors that
have exercised their right of conversion into or subscription to shares in the company, and also in the event of a conversion
obligation stipulated in the convertible bonds’ issuance conditions in order to fulfil this conversion obligation. This authorization
may be exercised in whole, in part or in several partial amounts for one or more purposes by the company, a subsidiary (§ 189a
7 UGB) or by third parties for the account of the company or a subsidiary and remains in force for five years from the date of
this resolution, i.e. until 4 April 2029.
Since then, no treasury shares have been acquired under this authorization of April 2024.
The Annual General Meeting of 4 April 2024 also authorized the Management Board, under the provisions of § 65 (1) 7 of the
AktG, to purchase own shares for the purpose of securities trading, which may also be conducted off-market, during a period
of 30 months from the date of the resolution (i.e. until 4 October 2026), provided that the trading portfolio of shares purchased
for this purpose does not at the end of any given day exceed 5 per cent of the company's respective share capital. The
consideration for each share to be acquired must not be less than half the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition and must not exceed twice the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition. This authorization may be exercised in full or in part or also in several partial
amounts by the company, by a subsidiary (§ 189a (7) UGB) or by third parties acting for the account of the company or a
subsidiary.
Since then, no own shares have been purchased for the purpose of securities trading on the basis of the authorization of April
2024.
Authorized capital
Pursuant to § 169 of the Austrian Stock Corporation Act (AktG), the Management Board has been authorized since the Annual
General Meeting of 4 April 2024 to increase the share capital with the approval of the Supervisory Board – in one or more
tranches – by up to € 501,632,920.50 through the issuance of up to 164,469,810 new voting common bearer shares in exchange
for contributions in cash and/or in kind (including by way of the right of indirect subscription by a bank pursuant to § 153 (6) of
the AktG) by 16 May 2029 at the latest and to fix the offering price and terms of the issue with the approval of the Supervisory
Board. The Management Board is further authorized to exclude shareholders’ subscription rights with the approval of the
Supervisory Board (i) if the capital increase is carried out in exchange for contributions in kind, or (ii) if the capital increase is
carried out in exchange for contributions in cash and the shares issued under the exclusion of subscription rights do not exceed
10 per cent of the company’s share capital (exclusion of subscription rights). The (i) utilization of authorized capital with
exclusion of the statutory subscription right in the event of a capital increase in return for a contribution in cash, and the (ii)
implementation of the conditional capital resolved upon in the Annual General Meeting on 26 March 2025 in order to grant
conversion or subscription rights to convertible bond creditors may not exceed 10 per cent in total of the share capital of the
company. The utilization of the authorized capital in the form of a capital increase in return for a contribution in kind is not
covered by this restriction.
Since then, this authorization from April 2024 has not been utilized.
Dividend
The Annual General Meeting decided on 26 March 2025, the distribution of a dividend of € 1.10 for each share that was entitled
to a dividend for the 2024 financial year. This corresponds to a total distribution amount of € 360,681,550.
Dividend proposal
The Management Board will purpose to the Annual General Meeting on 9 April 2026, the distribution of a dividend of € 1.60 per
share. This would result in a maximum amount of approximately € 525 million based on the issued shares.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 435
Number of shares outstanding

Number of shares | 2025 | 2024
Number of shares issued as at 1/1 | 328,939,621 | 328,939,621
New shares issued | 0 | 0
Number of shares issued as at 31/12 | 328,939,621 | 328,939,621
Own shares as at 1/1 | 525,274 | 573,938
Purchase of own shares | 173,493 | 0
Sale of own shares | 0 | -48,664
Less own shares as at 31/12 | 698,767 | 525,274
Number of shares outstanding as at 31/12 | 328,240,854 | 328,414,347

Additional tier 1 capital
On 5 July 2017, RBI AG issued perpetual additional tier 1 capital (AT1) with a nominal value of € 650,000 thousand. The interest
rate was until 14 December 2022 6.125 per cent p.a. and was reset thereafter at 8.659 per cent. On 27 November 2024, a partial
conversion was executed, reducing the nominal value by €475,800 thousand. On 15 June 2025, the remaining outstanding
nominal amount of € 174,200 thousand was repaid.
RBI placed another issue of perpetual additional tier 1 capital (AT1) with a volume of € 500,000 thousand on 24 January 2018.
The discretionary coupon on this issue is 4.5 per cent p.a. until mid-June 2025, after which it was reset to 6.089 per cent p.a.. On
22 September 2025, a total nominal amount of € 197,400 thousand was repurchased, and on 15 December 2025, the remaining
outstanding nominal amount of € 302,600 thousand was repaid.
With value date 29 July 2020, RBI placed another perpetual additional tier 1 capital (AT1) instrument in the amount of € 500,000
thousand. The discretionary coupon on this issue is 6 per cent p.a. until December 2026, after which point it will be reset.
With value date 25 November 2024, RBI placed another issue of additional Tier 1 capital (AT1) with unlimited maturity in the
amount of € 650,000 thousand. The discretionary coupon for this issue is 7.375 per cent p.a. until June 2030, after which it will
be reset.
With value date 17 September 2025, RBI placed another issue of additional Tier 1 capital (AT1) with unlimited maturity in the
amount of € 500,000 thousand. The discretionary coupon for this issue is 6.375 per cent p.a. until December 2031, after which it
will be reset.
Due to the terms of issuance, the additional Tier 1 capital is classified as equity according to IAS 32. The shares held in treasury
with a nominal amount of € 23,000 thousand were also deducted from capital. The nominal value per unit for all tranches is
€ 200 thousand.

Number of AT1 securities | 2025 | 2024
Number of AT1 securities issued as at 1/1 | 9,121 | 8,250
New AT1 securities issued | 2,500 | 3,250
Redemption AT1 securities | (3,371) | (2,379)
Number of AT1 securities issued as at 31/12 | 8,250 | 9,121
Own AT1 securities as at 1/1 | 83 | 141
Purchase of own AT1 securities | 524 | 378
Sale of own AT1 securities | (492) | (436)
Less own AT1 securities as at 31/12 | 115 | 83
Number of AT1 securities outstanding as at 31/12 | 8,135 | 9,038

Development of cumulative other comprehensive income of Group equity (without
non-controlling interests)
Other comprehensive income comprises all income and expenses directly recognized in equity in accordance with IFRS
standards. Income and expenses recognized directly in equity that are reclassified in the income statement are reported
separately from income and expenses recognized directly in equity that are not reclassified in the income statement. Currency
differences resulting from the translation of equity in subsidiaries held in foreign currency, changes resulting from the hedging
of net investments in a foreign entity (Net Investment Hedge), the effective part of a cash flow hedge, changes resulting from
valuation of financial assets (debt instruments) of the category FVOCI, proportionate other comprehensive income from
associates valued at equity as well as deferred taxes on the mentioned items are presented as income and expenses directly
recognized in equity and are reclassified to the income statement. Revaluations of defined benefit plans, valuation changes of
financial assets (equity instruments) of the category FVOCI, valuation changes on account of the change in the own default risk
of financial liabilities at fair value, proportionate other comprehensive income from associates as well as deferred taxes on the
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
436 Consolidated financial statements
mentioned items are presented as income and expenses directly recognized in equity and are not reclassified to the income
statement.

in € million | Remeasurements reserve acc. to IAS 19 | Exchange differences | Net investment hedge | Cash flow hedge
As at 1/1/2024 | (9) | (4,629) | 175 | (73)
Unrealized net gains/losses of the period | (1) | 0 | 0 | 0
Items that may be reclassified subsequently to profit or loss | 0 | (915) | 39 | (103)
Net gains/losses reclassified to income statement | 0 | 570 | (49) | 0
Reclassification of the valuation reserve of financial assets | 0 | 0 | 0 | 0
As at 1/1/2025 | (10) | (4,974) | 165 | (176)
Unrealized net gains/losses of the period | 21 | 0 | 0 | 0
Items that may be reclassified subsequently to profit or loss | 0 | 1,103 | (15) | 163
Net gains/losses reclassified to income statement | 0 | 0 | 0 | 0
Reclassification of the valuation reserve of financial assets | 0 | 0 | 0 | 0
As at 31/12/2025 | 11 | (3,871) | 151 | (13)
Deferred taxes | (1) | 0 | 0 | 5
As at 31/12/2025 net | 11 | (3,871) | 151 | (8)

in € million | At Fair Value OCI | Fair Value Option | At equity | Total
As at 1/1/2024 | 52 | 12 | (130) | (4,602)
Unrealized net gains/losses of the period | 22 | (11) | (3) | 8
Items that may be reclassified subsequently to profit or loss | 55 | 0 | 59 | (864)
Net gains/losses reclassified to income statement | 0 | 0 | 0 | 521
Reclassification of the valuation reserve of financial assets | 4 | 0 | 0 | 4
As at 1/1/2025 | 134 | 0 | (74) | (4,933)
Unrealized net gains/losses of the period | 13 | (6) | 5 | 33
Items that may be reclassified subsequently to profit or loss | 25 | 0 | 2 | 1,278
Net gains/losses reclassified to income statement | 0 | 0 | 0 | 0
Reclassification of the valuation reserve of financial assets | (5) | 0 | (12) | (17)
As at 31/12/2025 | 167 | (5) | (78) | (3,638)
Deferred taxes | (32) | 1 | 3 | (23)
As at 31/12/2025 net | 135 | (4) | (75) | (3,661)

Development of deferred taxes included in other comprehensive income:

in € million | 1/1/2024 | Development | 31/12/2024 | Development | 31/12/2025
Remeasurements reserve acc. to IAS 19 | 3 | 0 | 3 | (4) | (1)
Exchange differences | 0 | 0 | 0 | 0 | 0
Net investment hedge | 0 | 0 | 0 | 0 | 0
Cash flow hedge | 21 | 27 | 47 | (42) | 5
At fair value OCI | (4) | (20) | (25) | (7) | (32)
Fair value option | (3) | 3 | 0 | 1 | 1
At equity | 4 | (2) | 2 | 1 | 3
Deferred taxes total | 22 | 7 | 28 | (51) | (23)

The changes in fair value of designated liabilities resulting from changes in RBI's own default risk amounted to minus € 6 million
in the reporting period (previous year: minus € 11 million). The difference between the current fair value of these designated
liabilities and the contractually agreed payment amount for the date of final maturity amounted to € 103 million (previous
year: € 189 million). There were no significant transfers within equity or derecognition of liabilities measured at fair value in the
reporting period.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 437
Non-controlling interests
The following table contains financial information on the Group's subsidiaries in which there are significant non-controlling
interests. The amounts shown relate to non-controlling interests that were not eliminated. The position Other mainly includes
indirect non-controlling interests in leasing companies in the Czech Republic and Slovakia.

2025 in € million | Share of voting rights and equity of non- controlling interests | Net assets of non-controlling interests | Profit/loss of non-controlling interests | Other comprehensive income of non- controlling interests | Total comprehensive income of non- controlling interests
Raiffeisen Bank JSC, Kiev (UA) | 31.8% | 246 | 73 | (25) | 48
Raiffeisenbank a.s., Prague (CZ) | 25.0% | 581 | 98 | 20 | 118
Tatra banka a.s., Bratislava (SK) | 21.2% | 350 | 51 | 0 | 51
Valida Pension AG, Vienna (AT) | 42.6% | 93 | 8 | 0 | 8
Other | n/a | 116 | 20 | 2 | 23
Total |  | 1,386 | 250 | (2) | 248

2024 in € million | Share of voting rights and equity of non- controlling interests | Net assets of non-controlling interests | Profit/loss of non-controlling interests | Other comprehensive income of non- controlling interests | Total comprehensive income of non- controlling interests
Raiffeisen Bank JSC, Kiev (UA) | 31.8% | 198 | 31 | 4 | 35
Raiffeisenbank a.s., Prague (CZ) | 25.0% | 552 | 72 | (8) | 65
Tatra banka a.s., Bratislava (SK) | 21.2% | 340 | 46 | 0 | 46
Priorbank JSC, Minsk (BY) | 12.3% | 0 | 18 | (5) | 12
Valida Pension AG, Vienna (AT) | 42.6% | 85 | 6 | 0 | 6
Other | n/a | 84 | 28 | (1) | 27
Total |  | 1,260 | 201 | (9) | 192

The following table contains financial information of the significant individual subsidiaries (including controlling interests) in
which non-controlling interests exist.

2025 in € million | Raiffeisen Bank JSC, Kiev (UA) | Raiffeisenbank a.s., Prague (CZ) | Tatra banka a.s., Bratislava (SK) | Valida Pension AG, Vienna (AT)
Operating income | 479 | 828 | 715 | 41
Profit/loss after tax | 229 | 393 | 240 | 19
Other comprehensive income | (79) | 80 | 1 | 0
Total comprehensive income | 150 | 474 | 241 | 19
Current assets | 3,747 | 15,525 | 6,356 | 90
Non-current assets | 1,255 | 18,420 | 16,490 | 262
Short-term liabilities | 4,195 | 29,624 | 18,258 | 12
Long-term liabilities | 34 | 1,997 | 2,938 | 121
Net assets | 773 | 2,323 | 1,651 | 218
Net cash from operating activities | 140 | 2,178 | 802 | 16
Net cash from investing activities | (69) | (1,409) | (786) | 7
Net cash from financing activities | (2) | (358) | (207) | 0
Effect of exchange rate changes | (157) | (92) | 0 | 0
Net increase in cash and cash equivalents | (88) | 319 | (192) | 23
Dividends paid to non-controlling interests during the year 1 | 0 | 88 | 39 | 0
1 Included in net cash from financing activities

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
438 Consolidated financial statements

2024 in € million | Raiffeisen Bank JSC, Kiev (UA) | Raiffeisenbank a.s., Prague (CZ) | Tatra banka a.s., Bratislava (SK) | Valida Pension AG, Vienna (AT)
Operating income | 477 | 690 | 660 | 39
Profit/loss after tax | 97 | 289 | 216 | 15
Other comprehensive income | 14 | (30) | 1 | 0
Total comprehensive income | 111 | 259 | 218 | 15
Current assets | 3,711 | 13,517 | 6,012 | 60
Non-current assets | 1,275 | 15,935 | 14,637 | 275
Short-term liabilities | 4,318 | 24,894 | 16,061 | 10
Long-term liabilities | 44 | 2,351 | 2,984 | 126
Net assets | 623 | 2,208 | 1,604 | 200
Net cash from operating activities | 391 | 1,338 | (1,532) | (44)
Net cash from investing activities | 379 | (1,251) | (729) | (10)
Net cash from financing activities | (2) | (146) | (189) | (3)
Effect of exchange rate changes | 12 | 45 | (3) | 0
Net increase in cash and cash equivalents | 780 | (14) | (2,453) | (58)
Dividends paid to non-controlling interests during the year 1 | 0 | 55 | 33 | 0
1 Included in net cash from financing activities

Significant restrictions
For Raiffeisenbank a.s., Prague, a syndicate contract exists between RBI AG and the joint shareholder. The syndicate contract
regulates especially purchase options between direct and indirect shareholders. The syndicate contract expires automatically
if control over the company changes – also in the case of a takeover bid.
The European Bank for Reconstruction and Development (EBRD) participated in the capital increase of Raiffeisen Bank JSC, Kiev,
which took place in December 2015. Within the course of this transaction, RBI agreed with EBRD that, if the EBRD makes a
corresponding request to RBI, RBI would offer EBRD either shares of RBI in exchange for its stake in Raiffeisen Bank JSC, Kiev,
through a so-called share swap (or put option) according to the value ratios, or a corresponding payment in USD or another
currency. The execution of this transaction is subject to approvals from regulatory authorities, the Annual General Meeting and
other committees.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 439
Notes of financial instruments
(30) Loan commitments, financial guarantees and other commitments
Financial guarantees
According to IFRS 9, a financial guarantee is a contract under which the guarantor is obliged to make certain payments that
compensate the party to whom the guarantee is issued for losses arising in the event that a particular debtor does not fulfill
payment obligations on time as stipulated in the original terms of a debt instrument. At the date of recognition of a financial
guarantee, the initial fair value corresponds under market conditions to the premium at the date of signature of the contract.
In contrast to the presentation of impairments of financial assets, expected loan defaults are shown as a provision on the
liabilities side.
Contingent liabilities and commitments
This item mainly includes contingent liabilities from undrawn loan commitments. Loan commitments must be reported when a
credit risk may occur. These include commitments to provide loans, to purchase securities or to provide guarantees and
acceptances. Loan loss provisions for loan commitments are reported under provisions for liabilities and charges. Often, loan
commitments are only partially drawn and thus comprise a drawn and an undrawn commitment. If it is not possible to
separately identify the expected credit losses applicable to a drawn commitment and those to an undrawn commitment,
these are shown together with the impairments of the financial asset, in accordance with IFRS 7. The total expected credit
losses are shown as a pr ovision if they exceed the gross carrying amount of the financial asset. Major contingent liabilities
from legal disputes are shown under (45) Pending legal issues.

in € million | 2025 | 2024
Loan commitments given | 42,664 | 37,635
Financial guarantees given | 10,034 | 9,243
Other commitments given | 5,609 | 5,567
Total | 58,307 | 52,445
Provisions for off-balance sheet items according to IFRS 9 | (219) | (182)

In addition to the provisions for off-balance sheet risks according to IFRS 9 presented, provisions of less than one million were
recognized for other commitments given in accordance with IAS 37 (previous year: € 1 million).
Nominal value and provisions for off-balance sheet liabilities from commitments and financial guarantees according to IFRS 9
shown by counterparties and stages – in accordance with § 51 (13) of the Austrian Banking Act (BWG):

2025 | Nominal amount | Provisions for off-balance sheet items according to IFRS 9 | ECL coverage ratio
in € million | Stage 1 | Stage 2 | Stage 3 | Stage 1 | Stage 2 | Stage 3 | Stage 1 | Stage 2 | Stage 3
Central banks | 0 | 0 | 0 | 0 | 0 | 0 | 0.0% | - | -
General governments | 535 | 54 | 0 | 0 | 0 | 0 | 0.1% | 0.5% | 95.1%
Banks | 2,637 | 136 | 0 | 0 | 0 | 0 | 0.0% | 0.1% | -
Other financial corporations | 7,063 | 531 | 4 | (4) | (5) | 0 | 0.1% | 0.9% | 0.1%
Non-financial corporations | 34,466 | 4,888 | 128 | (56) | (86) | (36) | 0.2% | 1.8% | 28.2%
Households | 6,959 | 887 | 20 | (11) | (6) | (14) | 0.2% | 0.7% | 69.6%
Total | 51,660 | 6,496 | 151 | (72) | (97) | (50) | 0.1% | 1.5% | 33.0%

2024 | Nominal amount | Provisions for off-balance sheet items according to IFRS 9 | ECL coverage ratio
in € million | Stage 1 | Stage 2 | Stage 3 | Stage 1 | Stage 2 | Stage 3 | Stage 1 | Stage 2 | Stage 3
Central banks | 0 | 0 | 0 | 0 | 0 | 0 | 0.1% | - | -
General governments | 475 | 8 | 18 | 0 | 0 | (1) | 0.0% | 3.3% | 5.1%
Banks | 2,112 | 166 | 0 | 0 | 0 | 0 | 0.0% | 0.0% | -
Other financial corporations | 6,366 | 422 | 2 | (3) | (3) | 0 | 0.1% | 0.8% | 0.0%
Non-financial corporations | 32,640 | 3,721 | 179 | (56) | (46) | (43) | 0.2% | 1.2% | 24.2%
Households | 5,507 | 813 | 16 | (10) | (7) | (12) | 0.2% | 0.8% | 71.0%
Total | 47,099 | 5,130 | 215 | (70) | (56) | (56) | 0.1% | 1.1% | 26.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
440 Consolidated financial statements
Development of provisions for loan commitments, financial guarantees and other
commitments given:

| Stage 1 | Stage 2 | Stage 3 | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL |
As at 1/1/2025 | 70 | 56 | 56 | 182
Increases due to origination and acquisition | 80 | 11 | 9 | 100
Decreases due to derecognition | (30) | (17) | (12) | (60)
Changes due to change in credit risk (net) | (43) | 43 | (5) | (4)
Decrease due to write-offs | 0 | 0 | 0 | 0
Changes due to model/risk parameters | 0 | 0 | 0 | 0
Change in consolidated group | 0 | 0 | 0 | 0
Foreign exchange and other | (5) | 4 | 1 | 0
As at 31/12/2025 | 72 | 97 | 50 | 219

| Stage 1 | Stage 2 | Stage 3 | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL |
As at 1/1/2024 | 58 | 96 | 49 | 204
Increases due to origination and acquisition | 67 | 23 | 6 | 96
Decreases due to derecognition | (28) | (23) | (8) | (59)
Changes due to change in credit risk (net) | (36) | (38) | 11 | (62)
Decrease due to write-offs | 0 | 0 | 0 | 0
Changes due to model/risk parameters | 0 | 0 | 0 | 0
Change in consolidated group | 9 | (2) | 0 | 7
Foreign exchange and other | (1) | 0 | (2) | (3)
As at 31/12/2024 | 70 | 56 | 56 | 182

Nominal values of off-balance sheet commitments by rating categories and stages:

2025 | Stage 1 | Stage 2 | Stage 3 | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL |
Excellent | 837 | 218 | 0 | 1,055
Strong | 17,625 | 1,167 | 0 | 18,792
Good | 25,035 | 2,349 | 0 | 27,384
Satisfactory | 7,083 | 2,231 | 0 | 9,315
Substandard | 397 | 325 | 0 | 722
Credit impaired | 0 | 0 | 150 | 150
Not rated | 683 | 205 | 1 | 889
Nominal amount | 51,660 | 6,496 | 151 | 58,307
Provisions for off-balance sheet items according to IFRS 9 | (72) | (97) | (50) | (219)
Nominal amount after provisions | 51,589 | 6,399 | 101 | 58,088

2024 | Stage 1 | Stage 2 | Stage 3 | Total
in € million | 12-month ECL | Lifetime ECL | Lifetime ECL |
Excellent | 862 | 244 | 0 | 1,106
Strong | 17,492 | 873 | 0 | 18,365
Good | 21,426 | 1,984 | 0 | 23,410
Satisfactory | 4,912 | 1,659 | 0 | 6,572
Substandard | 109 | 266 | 0 | 375
Credit impaired | 0 | 0 | 214 | 214
Not rated | 2,298 | 103 | 1 | 2,402
Nominal amount | 47,099 | 5,130 | 215 | 52,445
Provisions for off-balance sheet items according to IFRS 9 | (70) | (56) | (56) | (182)
Nominal amount after provisions | 47,030 | 5,074 | 159 | 52,263

The category not rated includes off-balance sheet commitments for some retail customers for whom no ratings are available.
The rating is therefore based on qualitative factors.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 441
(31) Expected credit losses
Expected credit losses from financial instruments should reflect an unbiased and probability-weighted amount that is
determined by evaluating a range of possible outcomes, the time value of money and reasonable and supportable information
that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of
future economic conditions.
General approach
The measurement of impairment for expected credit loss on financial assets measured at amortized cost and fair value
through other comprehensive income is an area that requires the use of models and assumptions about future economic
conditions and payment behavior. Judgments are required in applying the accounting requirements for measuring expected
credit losses, inter alia:
· Determining criteria for a significant increase in credit risk
· Choosing appropriate models and assumptions for the measurement of expected credit losses
· Consideration of risk factors beyond the current models
· Establishing the number and relative weightings of forward-looking scenarios
· Establishing groups of similar financial assets for the purposes of measuring expected credit losses.
Credit risk is the risk of suffering financial loss should customers, clients or market counterparties fail to fulfil their contractual
obligations or fail to do so on time. Credit risk arises mainly from interbank, commercial and personal loans, and loan
commitments, but can also arise from financial guarantees given, such as, credit guarantees, letters of credit, and
acceptances.
Other credit risks arise from investments in debt securities and from trading activities (trading credit risks), as well as from
settlement balances with market counterparties and reverse repurchase agreements.
Models are applied to estimate the likelihood of defaults occurring, the associated loss ratios and the exposure at default. RBI
measures credit risks using the probability of default (PD), exposure at default (EAD) and loss given default (LGD). In addition to
established risks with predictable patterns, new risks - such as geopolitical uncertainty, energy supply and environmental risks
- are emerging. These risks can’t be captured by existing statistical models due to insufficient historical data. However, to
ensure adequate provisioning levels these risks are incorporated in the ECL calculation via management overlays - which can
be split into:
· Overlays: These are adjustments which are added outside the model – i.e. after the model is operated. (Post Model
Adjustments (PMA) belong to this category).
· In-model adjustments: These are adjustments which are performed within the IFRS 9 model. It covers adjustments of
the model input, adjustments of the model parameter or ad-hoc adjustments of the model and model calibration
(whereas altering model parameters (LGD and PD) by including forward looking macroeconomic information is not
considered as management overlay).
ESG factors are not yet explicitly included in ECL modelling. However, they are taken into account in the calculation via overlays.
Significant increase in the credit risk
RBI considers a financial instrument to have experienced a significant increase in credit risk when one or more of the following
quantitative, qualitative or backstop criteria have been met:
Quantitative criteria
RBI’s rating systems incorporate all available quantitative and qualitative information relevant for forecasting the credit risk
into the PD. This metric is based primarily on a statistical selection and weighting of all available indicators. In addition, the PD
adjusted in accordance with IFRS 9 requirements takes into account not only historical information and the current economic
environment, but also, in particular, forward-looking information such as the forecast for the development of macroeconomic
conditions. As a consequence, RBI uses the PD as a frame of reference for assessing whether the credit risk of a financial
instrument has risen significantly since the date of its initial recognition. By embedding the review of the relative transfer
criterion within the group-wide processes and procedures of credit risk management framework, the bank ensures that a
significant increase in the credit risk is identified in a reliable and timely manner based on objective criteria. The review to
determine whether the credit default risk as at the financial reporting date has risen significantly since the initial recognition of
the respective financial instrument is performed as at the reporting date. This review compares the observed probability of
default over the residual maturity of the financial instrument (Lifetime PD) against the lifetime PD over the same period as
expected on the date of recognitio n.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
442 Consolidated financial statements
Given the different nature of products between non-retail and retail customers, the methods for assessing potential
significant increases in credit risk also differ slightly.
In order to make the two curves for credit risk of non-retail customers comparable, the PDs are scaled down to annualized PDs.
A significant increase in credit risk is considered to have occurred if the PD increase was at least 250 per cent. For longer
maturities the threshold of 250 per cent is reduced to account for a maturity effect.
For retail exposures, the remaining cumulative PDs are compared as the logit difference (logit is in statistics the natural
logarithm of a probability) between lifetime PD at reporting date and lifetime PD at origination conditional to survival up to the
reporting date. A significant increase in credit risk is considered to have occurred once this logit difference is above a certain
threshold. The threshold levels are calculated separately for each portfolio which is covered by individual rating-based lifetime
PD models. Based on historical data, the thresholds are estimated as a specific quantile of the distribution of the above-
mentioned logit differences on the worsening portfolio (defined by country and product such as mortgage loans, credit cards
and SME loans). That usually translates to a PD increase between 150 and up to 250 per cent, dependent on the default
behavior of the different portfolios.
Qualitative criteria
RBI uses qualitative criteria in addition to quantitative criteria to recognize a significant increase in credit risk for all material
portfolios.
For the corporate customer, sovereign, bank and project finance portfolios, a transfer to Stage 2 takes place if the borrower
meets one or more of the following criteria:
· Detection of credit deterioration in the early warning system
· Changes in contract terms as a forbearance measure
· External risk factors with a potentially significant impact on the client’s repayment ability
The assessment of a significant increase in credit risk incorporates forward-looking information and is performed on a monthly
basis at an individual transaction level for all corporate customer, sovereign, bank and project finance portfolios held by RBI.
For retail portfolios, a Stage 2 transfer takes place if the borrower meets one or more of the following qualitative criteria:
· Forbearance flag active
· Default of material exposure (> 20 per cent of total exposure) of the same customer on another product (PI
segment)
· Holistic approach – applicable for cases where new forward-looking information becomes available for a segment
or portion of the portfolio and this information is not yet captured in the rating system. If such cases are identified,
management measures this portfolio with lifetime expected credit losses (as a collective assessment).
The assessment of significant increase in credit risk incorporates forward-looking information and is performed on a monthly
basis at an individual transaction level for all retail portfolios held by RBI.
Backstop criteria
A backstop is applied, and the financial instrument considered to have experienced a significant increase in credit risk if
contractual payments are more than 30 days overdue. In rare cases, it is possible to override the 30-day rule; however, this
exception is not implemented at RBI.
Low credit risk exemption
In selected cases for sovereign debt securities, RBI makes use of the low credit risk exemption. All securities which are
presented as low credit risk have a rating equivalent to investment grade or better, i.e. minimum S&P BBB-, Moody’s Baa3 or
Fitch BBB-. This exemption does not apply to the lending business.
Definition of default and credit-impaired assets
RBI uses the same definition of default for the purposes of calculating expected credit losses under IFRS 9 as for its CRR capital
reporting (Basel III). This definition also places a defaulted receivable in Stage 3.
Default is assessed by referring to quantitative and qualitative triggers. The condition for default is, firstly, when contractual
payments are more than 90 days past due. Secondly, a loan is considered to be in default if there are significant financial
difficulties and any credit obligation is unlikely to be repaid in full. The definition of default has been applied consistently to
model the probability of default (PD), exposure at default (EAD) and loss given default (LGD) throughout RBI’s expected loss
calculations.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 443
Explanation of inputs, assumptions and estimation techniques
The expected credit loss is measured on either a twelve-month or lifetime basis depending on whether a significant increase in
credit risk has occurred since initial recognition or whether an asset is considered to be credit-impaired. Forward-looking
economic information is also included in determining the twelve-month and lifetime PD, EAD and LGD. These assumptions vary
by product type. Expected credit losses are the discounted product of the probability of default (PD), loss given default (LGD),
exposure at default (EAD) and discount factor (D).
Probability of Default (PD)
The probability of default represents the likelihood of a borrower defaulting on its financial obligation either over the next
twelve months or over the remaining lifetime of the obligation. In general, the lifetime probability of default is calculated using
the regulatory twelve-month probability of default, stripped of any conservative adjustments, as a starting point. Thereafter
various statistical methods are used to generate an estimate of how the default profile will develop from the point of initial
recognition throughout the lifetime of the loan or portfolio of loans. The default profile is based on historical observed data.
Different models have been used to estimate the default profile of outstanding lending amounts and these can be grouped
into the following categories:
· Corporate customers, project finance and financial institutions: The default profile is generated using a parametric
survival regression (Burr-Type 12 and Weibull) approach. Forward-looking information is incorporated into the
probability of default using an one factor model. The default rate calibration is adjusted for shorter maturities and
early repayments.
· Retail lending and mortgage loans: The default profile is generated using parametric survival regression in a
competing risk framework. Forward-looking information is incorporated into the probability of default using satellite
models.
· Sovereigns, local and regional governments, insurance companies and collective investment undertakings: The
default profile is generated using a transition matrix approach. Forward-looking information is incorporated into the
probability of default using an one factor model.
In the limited circumstances where some inputs are not fully available, grouping, averaging and benchmarking of inputs are
used for the calculation.
Loss Given Default (LGD)
Loss given default represents RBI’s expectation of the extent of loss on a defaulted exposure. Loss given default is expressed
as a percentage loss per unit of exposure at the time of default.
Different models are used to estimate the loss given default of outstanding lending amounts and these can be grouped into
the following categories:
· Corporate customers, project finance, financial institutions, local and regional governments, insurance companies:
The loss given default is generated by discounting cash flows collected during the workout process. Forward-looking
information is incorporated into the loss given default using an one factor model. While real estate collateral is
directly considered in the reduction of the outstanding receivable amount, other collateral types have a reducing
effect already during the modeling in the statistical average of the loss given default.
· Retail lending and mortgage loans: The loss given default is generated by stripping the downturn adjustments and
other margins of conservatism form the regulatory loss given default. Forward-looking information is incorporated
into the loss given default using various satellite models.
· Sovereigns: The loss given default is found by using market implied sources.
Depending on the type of lending company (bank/leasing) different LGD estimates are applied.
In the limited circumstances where some inputs are not fully available, alternative recovery models, benchmarking of inputs
and expert judgment are used for the calculation.
Exposure at Default (EAD)
Exposure at default is based on the amount RBI expects to be owed at the time of default. The twelve-month and lifetime
EADs are determined based on the expected payment profile, which varies by contract type. For amortizing products and bullet
repayment loans, this is based on the contractual repayments owed by the borrower over a twelve-month or lifetime basis. If
not already taken into account in the PD estimate over the loan term, early (full) repayment/refinance assumptions are also
considered in the calculation.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
444 Consolidated financial statements
For revolving products, the exposure at default is determined by taking current drawn balance and adding the expected
utilization of the remaining limit . This additional amount is the product of the remaining limit and credit conversion factor. The
prudential regulatory margins are removed from the credit conversion factor. In the limited circumstances where some inputs
are not fully available benchmarking of inputs is used for the calculation.
Discount factor (D)
For financial assets and assets off the statement of financial position which are not leasing or POCI, the discount factor used
in the expected credit loss calculation is derived from the effective interest rate or an approximation thereof.
Calculation
For loans in Stage 1 and 2, the expected credit loss is the product of PD, LGD and EAD multiplied by the probability not to
default prior to the considered time period. The latter is expressed by the survivorship function S. This calculates future values
of expected credit losses, which are then discounted back to the reporting date and summed. The calculated values of
expected credit losses are then weighted by forward-looking scenario.
Different models have been used to estimate the provisions in Stage 3, and these can be grouped into the following categories:
· Corporate customers, project finance, sovereigns, financial institutions, local and regional governments, insurance
companies and collective investment undertakings: Stage 3 provisions are calculated by workout managers who
discount expected cash flows by the appropriate effective interest rate.
· For retail loans, Stage 3 impairments are determined for the majority of Group units by calculating the statistically
derived best estimate of expected loss adjusted for indirect costs.
Shared credit risk characteristics
Stage 1, Stage 2 and Stage 3 provisions for retail customers are measured on a collective basis. For non-retail business in Stage
3, most of the provisions are individually assessed. For expected credit losses modelled on a collective basis, a grouping of
exposures is performed on the basis of shared credit risk characteristics so that the exposures within each group are similar.
Retail exposure characteristics are grouped according to country, customer classification (households and SMEs), product (e.g.
mortgage, personal loans, overdraft facilities or credit cards), PD rating grade and LGD pool. Each combination of the above
characteristics is considered as a group with a uniform expected loss profile.
Non-retail exposure characteristics are assigned to a probability of default according to rating grade and customer segment.
This groups customer types into individual assessment models. For the determination of LGD and EAD parameters, the
portfolio is grouped by country.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 445
Forward-looking information
As a rule, the risk parameters specific to IFRS 9 are estimated not only on historical default information but also particularly on
the current economic environment and forward-looking information. This assessment primarily involves regularly reviewing the
effects which RBI's macroeconomic forecasts will have regarding the amount of the ECL and including these effects in the
determination of the ECL.
The assessment of significant increases in credit risk and the calculation of expected credit losses both incorporate forward-
looking information. RBI has performed historical analysis and identified the key economic variables impacting credit risk and
expected credit losses.
These economic variables and their associated impact on the probability of default and loss given default vary by category.
Forecasts of these economic variables (the base economic scenario) are provided by Raiffeisen Research on a quarterly basis
and provide the best estimate view of the economy over the next three years. Beyond three years, no macroeconomic
adjustment is carried out. That means that after three years, to project the economic variables for the full remaining lifetime
of each instrument, a mean reversion approach has been used, which means that economic variables tend to revert to either a
long-term average rate or a long-term average growth rate until maturity. The impact of these economic variables on the
probability of default and loss given default has been determined by performing statistical regression to understand the
impact changes in these variables have had historically on default rates and on the components of loss given default.
In addition to the base economic scenario, Raiffeisen Research also estimates an optimistic and a pessimistic scenario to
ensure that the non-linearity of the ECL, depending on macroeconomic conditions, is captured.
In both the pessimistic and optimistic scenarios, the methodology was adjusted as a result of the high level of uncertainty. As
with any economic forecast, the projections and likelihoods of occurrence are subject to a high degree of inherent uncertainty;
therefore, the actual outcomes may be significantly different from those projected. RBI considers these forecasts to represent
its best estimate of the future outcomes and cover any potential non-linearities and asymmetries within RBI’s different
portfolios.
The most significant assumptions used as a starting point for the expected credit loss estimates at year-end are shown below
(source: Raiffeisen Research, November 2025, exclusive Ukraine).

|  | Real GDP | Unemployment
|  | 2026 | 2027 | 2028 | 2026 | 2027 | 2028
| Upside scenario | 3.9% | 3.6% | 3.6% | 4.2% | 4.2% | 4.2%
Croatia | Base | 2.6% | 2.5% | 2.5% | 4.9% | 4.8% | 4.8%
| Downside scenario | 0.4% | 0.6% | 0.6% | 6.6% | 6.2% | 6.2%
| Upside scenario | 1.6% | 1.6% | 1.6% | 5.1% | 5.0% | 4.7%
Austria | Base | 0.8% | 1.0% | 1.0% | 5.4% | 5.3% | 5.0%
| Downside scenario | (0.4)% | 0.0% | 0.0% | 5.7% | 5.8% | 6.0%
| Upside scenario | 4.0% | 3.6% | 3.6% | 4.1% | 4.1% | 4.0%
Poland | Base | 3.3% | 3.0% | 3.0% | 5.0% | 4.9% | 4.8%
| Downside scenario | 2.2% | 2.1% | 2.1% | 7.2% | 6.8% | 6.7%
| Upside scenario | 2.1% | 2.0% | 2.0% | 3.1% | 3.2% | 3.2%
Russia | Base | 0.9% | 0.9% | 0.9% | 3.5% | 3.5% | 3.5%
| Downside scenario | (1.1)% | (0.8)% | (0.8)% | 4.3% | 4.2% | 4.2%
| Upside scenario | 2.5% | 3.5% | 3.7% | 5.3% | 5.0% | 4.6%
Romania | Base | 1.3% | 2.5% | 2.7% | 5.6% | 5.2% | 4.8%
| Downside scenario | (0.6)% | 0.8% | 1.0% | 6.2% | 5.7% | 5.3%
| Upside scenario | 3.7% | 3.8% | 4.3% | 8.1% | 7.7% | 7.7%
Serbia | Base | 2.8% | 3.0% | 3.5% | 9.0% | 8.5% | 8.5%
| Downside scenario | 1.2% | 1.7% | 2.2% | 11.0% | 10.2% | 10.2%
| Upside scenario | 2.5% | 2.6% | 2.9% | 4.5% | 4.6% | 4.5%
Slovakia | Base | 1.5% | 1.7% | 2.0% | 5.4% | 5.4% | 5.3%
| Downside scenario | (0.2)% | 0.2% | 0.6% | 7.4% | 7.2% | 7.1%
| Upside scenario | 2.9% | 3.3% | 3.3% | 4.3% | 4.2% | 4.1%
Czech Republic | Base | 2.0% | 2.5% | 2.5% | 4.6% | 4.5% | 4.4%
| Downside scenario | 0.5% | 1.2% | 1.2% | 5.3% | 5.1% | 5.0%
| Upside scenario | 3.0% | 3.2% | 3.8% | 4.0% | 4.0% | 3.8%
Hungary | Base | 2.0% | 2.4% | 3.0% | 4.5% | 4.4% | 4.2%
| Downside scenario | 0.4% | 1.0% | 1.6% | 5.5% | 5.3% | 5.1%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
446 Consolidated financial statements

|  | Long-term bond rate | Real estate prices
|  | 2026 | 2027 | 2028 | 2026 | 2027 | 2028
| Upside scenario | 2.2% | 2.3% | 2.3% | 7.3% | 6.5% | 6.2%
Croatia | Base | 3.2% | 3.2% | 3.2% | 3.0% | 2.8% | 2.5%
| Downside scenario | 4.2% | 4.0% | 4.0% | 1.0% | 1.1% | 0.8%
| Upside scenario | 2.3% | 2.4% | 2.4% | 4.8% | 4.9% | 4.9%
Austria | Base | 3.2% | 3.2% | 3.2% | 2.5% | 3.0% | 3.0%
| Downside scenario | 4.1% | 4.0% | 3.9% | 1.5% | 2.1% | 2.1%
| Upside scenario | 3.3% | 2.7% | 2.7% | 5.6% | 5.9% | 4.1%
Poland | Base | 4.6% | 3.8% | 3.8% | 2.3% | 3.0% | 1.2%
| Downside scenario | 5.8% | 4.8% | 4.8% | 0.7% | 1.7% | 0.5%
| Upside scenario | 11.7% | 9.7% | 9.4% | 22.5% | 13.1% | 13.1%
Russia | Base | 12.8% | 10.6% | 10.3% | 13.0% | 5.0% | 5.0%
| Downside scenario | 13.8% | 11.5% | 11.1% | 8.7% | 1.3% | 1.3%
| Upside scenario | 5.4% | 4.4% | 3.7% | 6.1% | 5.0% | 6.8%
Romania | Base | 6.5% | 5.3% | 4.6% | 2.8% | 2.2% | 4.0%
| Downside scenario | 7.5% | 6.2% | 5.5% | 1.3% | 0.9% | 2.7%
| Upside scenario | 4.0% | 3.9% | 3.8% | 9.9% | 9.2% | 8.7%
Serbia | Base | 4.7% | 4.5% | 4.4% | 4.5% | 4.5% | 4.0%
| Downside scenario | 5.3% | 5.0% | 4.9% | 2.0% | 2.4% | 1.9%
| Upside scenario | 2.1% | 2.2% | 2.1% | 10.3% | 8.5% | 8.5%
Slovakia | Base | 3.1% | 3.0% | 2.9% | 5.0% | 4.0% | 4.0%
| Downside scenario | 3.9% | 3.7% | 3.7% | 2.6% | 2.0% | 2.0%
| Upside scenario | 3.3% | 3.5% | 3.5% | 12.7% | 9.5% | 8.5%
Czech Republic | Base | 4.2% | 4.3% | 4.3% | 8.6% | 6.0% | 5.0%
| Downside scenario | 5.0% | 5.0% | 5.0% | 6.7% | 4.4% | 3.4%
| Upside scenario | 5.6% | 5.5% | 5.2% | 11.0% | 8.8% | 8.8%
Hungary | Base | 6.8% | 6.5% | 6.2% | 6.0% | 4.5% | 4.5%
| Downside scenario | 7.8% | 7.4% | 7.1% | 3.7% | 2.6% | 2.6%

|  | Consumer price index | Short-term interest rate
|  | 2026 | 2027 | 2028 | 2026 | 2027 | 2028
| Upside scenario | 2.3% | 1.7% | 1.4% | 1.7% | 1.7% | 1.8%
Croatia | Base | 3.0% | 2.3% | 2.0% | 2.1% | 2.1% | 2.1%
| Downside scenario | 3.9% | 3.1% | 2.8% | 2.8% | 2.7% | 2.7%
| Upside scenario | 2.0% | 1.8% | 1.7% | 1.7% | 1.7% | 1.8%
Austria | Base | 2.5% | 2.3% | 2.2% | 2.1% | 2.1% | 2.1%
| Downside scenario | 3.1% | 2.9% | 2.8% | 2.8% | 2.7% | 2.7%
| Upside scenario | 1.9% | 1.8% | 2.0% | 2.8% | 2.6% | 2.2%
Poland | Base | 2.9% | 2.7% | 2.6% | 3.8% | 3.4% | 3.0%
| Downside scenario | 4.2% | 3.8% | 4.0% | 5.6% | 5.0% | 4.6%
| Upside scenario | 4.1% | 3.0% | 2.8% | 12.4% | 8.0% | 7.5%
Russia | Base | 5.6% | 4.2% | 4.0% | 13.2% | 8.7% | 8.2%
| Downside scenario | 7.4% | 5.7% | 5.5% | 14.7% | 10.0% | 9.5%
| Upside scenario | 6.1% | 2.4% | 1.8% | 5.0% | 3.8% | 2.7%
Romania | Base | 7.1% | 3.3% | 2.7% | 5.8% | 4.5% | 3.4%
| Downside scenario | 8.4% | 4.4% | 3.8% | 7.3% | 5.8% | 4.7%
| Upside scenario | 2.6% | 2.7% | 1.7% | 2.8% | 2.4% | 1.7%
Serbia | Base | 3.8% | 3.7% | 2.8% | 4.2% | 3.5% | 2.8%
| Downside scenario | 5.3% | 4.9% | 4.0% | 6.7% | 5.7% | 5.0%
| Upside scenario | 2.6% | 2.5% | 1.4% | 1.7% | 1.7% | 1.8%
Slovakia | Base | 3.7% | 3.4% | 2.3% | 2.1% | 2.1% | 2.1%
| Downside scenario | 5.0% | 4.5% | 3.4% | 2.8% | 2.7% | 2.7%
| Upside scenario | 1.4% | 1.8% | 1.6% | 2.9% | 3.2% | 3.4%
Czech Republic | Base | 2.3% | 2.6% | 2.4% | 3.3% | 3.5% | 3.8%
| Downside scenario | 3.4% | 3.6% | 3.4% | 4.2% | 4.3% | 4.5%
| Upside scenario | 3.2% | 3.6% | 2.4% | 5.3% | 4.5% | 3.9%
Hungary | Base | 4.4% | 4.6% | 3.4% | 6.3% | 5.3% | 4.7%
| Downside scenario | 10.8% | 8.8% | 4.6% | 8.0% | 6.8% | 6.2%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 447
Due to the ongoing war in Ukraine, the optimistic scenario for Ukraine was was excluded from the calculations. Furthermore,
the pessimistic scenario is not based on the mathematical approach published by Raiffeisen Research, but on a narrative
presentation with a probability weighting of 50 per cent. Since historical data for Ukraine are not representative or are partially
unavailable due to current circumstances, a derived real GDP and a derived short-term interest rate were included as
macroeconomic input parameters in the Ukrainian ECL calculation.

|  | Real GDP | Short-term interest rate
|  | 2025 | 2026 | 2027 | 2025 | 2026 | 2027
| Upside scenario | — | — | — | — | — | —
Ukraine | Base | 3.0% | 4.5% | 4.0% | 13.3% | 10.3% | 8.8%
| Downside scenario | (14.8)% | (8.2)% | (3.0)% | 22.3% | 18.3% | 17.0%

A large number of macroeconomic variables were analyzed for the model development and the most important ones were
used for the model. The model employed is a regression model with the aim of explaining changes in or the level of the default
rate. The following types of macro variables were considered as drivers of the credit cycle: real GDP growth, unemployment
rate, 3-month money market rate, 10-year government bond yield, 10 year government bond yield spread to Germany, housing
price index, FX rates, and the HICP inflation rate. For each country (or portfolio in case of retail exposure), a relevant set is
determined based on the ability to explain historically observed default rates. Through the cycle, PDs are overlaid with the
results of the macro-economic model to reflect the current and expected state of economy. For corporate customers,
additionally the condition of the credit cycle is also taken into account depending on the industry. While no further adjustment
is made to the effect of the macro models for corporate customers in industries with a neutral outlook, the expected credit risk
is assumed as additionally increased for corporate customers in industries with a poor outlook. For non-retail exposure for LGD,
the macro model is applied on the underlying cure rates, i.e. a positive macro-economic outlook drives up the cure rates and
this reduces the LGD. For retail exposures, the workout LGD is modelled in a similar manner to the default rates either directly
or as well via the components like cure rate, loss given cure as well as loss given non-cure. The long-run average LGDs are
overlaid with the results of the macro models to reflect current and expected state of economy. The weightings assigned to
each scenario at the end of the reporting year-end are as follows: 25 per cent optimistic, 50 per cent base and 25 per cent
pessimistic scenarios.
For corporate customers, the following risks and complications resulting from current economic and political developments are
included in the macroeconomic models. Historically high inflation rates in combination with higher key interest rates led to an
increase in financing cost for companies. This development is incorporated into the models of major parts of the portfolio
through a change in the 3-month money market rate and the yield on government bonds, resulting in an increase in expected
default risk. While high inflation rates may be associated with higher default risk in bivariant analyses, the underlying drivers of
higher default risk are actually higher interest rates as a result of higher inflation and economic growth trending downwards,
which often occur simultaneously. These drivers are directly captured in the economic growth and interest rate models. In
macroeconomic terms, the COVID pandemic and its aftermath were characterized by extremely high volatility, starting with a
strong decline in real GDP followed by a similar rate of positive economic growth. In contrast to comparable recessions after
the great financial crisis, these developments have not been met by a wave of insolvencies and defaults in many countries and
portfolios, which can be attributed to two factors. For one, the COVID-driven recession primarily consisted of a temporary
suspension of economic activity, which did not necessitate significant structural adjustments. Furthermore, massive political
measures were taken to support the economy to avoid long-term consequences stemming from events such as
unemployment and insolvencies. These developments underscore how the relationship between macroeconomic indicators
and credit risk are influenced by circumstances that are difficult to capture by quantitative means. To avoid the
macroeconomic models from implicitly assuming that a sharp decline in GDP growth will always be accompanied by significant
countervailing policy measures — as observed during the COVID-19 pandemic — additional parameters have been incorporated
into the models.These adjustments are specifically applied to segments where no significant rise in default risk was seen
during the COVID period, ensuring that the model’s predictions remain accurate without distortion.
The core assumption underlying the application of macroeco nomic credit risk models is that the empirical correlations
between macroeconomic indicators and default risk can be extrapolated to future.
Management Overlays
In situations where the existing input parameters, assumptions and modelling do not cover all relevant novel risk factors,
management overlays are a viable solution to ensure adequate provisioning despite a lack of sufficient historical data. This is
generally the case if there are temporary circumstances, or time constraints which prevent the adequate incorporation of
relevant new information into the rating, and if individual loans within a loan portfolio develop differently than originally
expected. In view of the given circumstances, in particular the war in Ukraine and the economic dislocations it has caused, it is
necessary to reflect additional risks in the impairments. All of these adjustments are approved locally by the subsidiaries and
centrally by the Group Risk Committee (GRC). There are portfolio-specific adjustments due to the war and associated
sanctions, which are presented in the category geopolitical risk. Their application period is limited in time, often for the
duration of specific economic crises or until models are adjusted. Their use is reviewed quarterly.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
448 Consolidated financial statements
For the central models in the corporate segment, the additional risk is considered by applying in-model adjustments
(parameter adjustments within the model). In-model adjustments can be performed on different model parameters like IFRS 9
PD curves, future exposure profiles, LGD, etc. The criteria for applying in-model adjustments are governed by strict rules and
include amongst others extended requirements for evidence of the novel risk factor, analysis of potential overlap with existing
IFRS 9 parameters and credit risk rating, detailed documentation and strong governance. In case the in-model adjustment
increases the applied PD, this higher PD is also applied for staging decision. The in-model adjustments undergo regular reviews
at least quarterly. The in-model adjustment remains in effect as long as the identified novel risk factor is persistent and not
fully accounted for by existing models.
In the retail segment, in-model adjustments have also been implemented where appropriate. However, post-model
adjustments remain the predominant approach for addressing emerging risks. These overlays are applied on top of the
existing models to calculate expected credit losses. While post-model adjustments are generally considered temporary
measures - typically valid for one to two years - they serve as a safeguard against potential distortions. If the identified risks
persist over a longer horizon, they are addressed through model updates or adjustments to model inputs, including in-model
adjustments, to ensure that the models adequately capture the evolving risk profile
The overlays are shown in the table below and split according to the relevant categories.

2025 | Modeled ECL | Non-Retail Overlays | Retail Overlays | Total
in € million |  | Macroeconomic risk | Geopolitical risk | Macroeconomic risk | Geopolitical risk |
Central banks | 0 | 0 | 0 | 0 | 0 | 0
General governments | 80 | 0 | 8 | 0 | 0 | 89
Banks | 2 | 0 | 0 | 0 | 0 | 2
Other financial corporations | 19 | 8 | 0 | 0 | 0 | 26
Non-financial corporations | 215 | 226 | 73 | 10 | 1 | 524
Households | 247 | 1 | 0 | 79 | 7 | 335
Total | 563 | 235 | 81 | 89 | 8 | 976

2024 | Modeled ECL | Other special risk factors | Post-model adjustments | Total
in € million |  | Macroeconomic risk | Geopolitical risk | Macroeconomic risk | Geopolitical risk |
Central banks | 1 | 0 | 0 | 0 | 0 | 1
General governments | 105 | 0 | 0 | 0 | 0 | 105
Banks | 3 | 0 | 0 | 0 | 0 | 4
Other financial corporations | 45 | 0 | 0 | 0 | 0 | 45
Non-financial corporations | 195 | 169 | 179 | 12 | 4 | 559
Households | 248 | 0 | 0 | 89 | 13 | 350
Total | 596 | 169 | 179 | 101 | 17 | 1,063

In addition to the modeled ECL (before in-model adjustments), overlays in Stage 1 and Stage 2 amounting to € 413 Million
(previous year: € 467 Million) were taken into account. Of this amount, € 89 million (previous year: € 196 million) related to the
war in Ukraine, and € 324 million (previous year: € 270 million) to macroeconomic risk (spill-over effects and other).
An amount of € 18 million (previous year: € 18 Million) was recognized in the spill-over effects due to climate risks. Of this
amount, € 14 million (previous year: € 9 Million) relates to corporate customers and € 4 million (previous year: € 6 Million) to
retail customers.
Non-Retail Overlays
For corporate customers, additional impairments were recognized in the amount of € 235 million (previous year: € 169 million)
for macroeconomic effects. These overlays account for risks which are not included in the country-specific branch matrix. They
comprise both global economic policy risks, such as tariffs and counter-tariffs, and expected downgrades of corporate clients
due to circumstances such as higher energy prices, inflation, and supply chain disruptions as well as lower revenues and higher
costs stemming from rising energy costs, particularly from the previous years.
In Ukraine, additional impairments in the amount of € 81 million (previous year: € 83 million) were recognized in the form of
management overlays for the impacts of the war. These additional provisions resulted from modeling the sustained
destruction of infrastructure as well as the continued bombardment of the affected infrastructure. In the previous year, these
risks were presented as geopolitical risks, together with the EU and US sanction risks concerning Russian customers, totaling
€ 205 million for Russia and Ukraine. The overlays for EU and US sanction risks related to selected Russian customers were fully
released during the fiscal year due to the complete repayment of the effected exposure.
For corporate customers RBI considers the possibility of a short-term disorderly scenario where carbon emissions are more
expensive and fossil energy prices are higher to account for climate and environmental risks. While, for a diversified portfolio
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 449
like RBI´s, the effects tend to net out to a large degree, however there is an elevated risk in some sectors. These are sectors
with customers with low environmental scores such, as oil & gas and construction. Higher probabilities of defaults for these
sectors lead to an increase in the expected credit losses.
Retail Overlays
Over the last years retail customers were severely exposed to increasing inflationary pressure, which impacted their ability to
cover their loan obligations. As part of the IFRS 9 framework, there are PD and LGD macro models at country and product
levels, which serve the need to address these high risks stemming from the macroeconomic environment. However, for certain
countries and portfolios where the macroeconomic models either lag behind the key macroeconomic variables (inflation,
interest rates, unemployment, etc.) or are not part of the model, post-model adjustments are implemented for identified high
risk customer groups. The latter involve a qualitative assessment of exposures for the expected significant increase in credit
risk and their subsequent transfer from Stage 1 to Stage 2, as well as, in particular cases increases of the PD and/or LGD
estimates respectively. The criteria for identifying such credit exposures are based on information from the loan application
and historical payment behavior and are subsequently refined using stressed macroeconomic variables. The post-model
adjustments are reversed either after the risks have materialized by transferring the affected receivables to Stage 3 or if the
expected risks do not materialize.
For the Ukrainian retail portfolio, which has been mostly reclassified as Stage 2 since the beginning of the war, the assessment
of provision coverage is based on local expert judgement, which is obtained from regular contact with individual customers by
the debt collection department. Furthermore, structured customer surveys are carried out to keep up to date with the needs
and potential issues that could influence customers’ ability to make payments. For assets and customers located in occupied
regions or territories, which run a high risk of hostilities or occupation, risk parameters were increased to take into account
higher expected future losses due to the above-mentioned surveys.
Sensitivity analysis
To simulate a range for potential changes to estimates and the related change in impairments, the following sensitivity
analyses of the most significant assumptions affecting the expected impairments were performed as follows.
The sensitivity analysis involved a recalculation of the impairments for expected credit losses in the existing models. The risk
factors and post-model adjustments – except for the Stage 1 simulations – are fully included in all scenarios and are not
subject to further adjustments. As a result of the complexity of the model, many drivers are not mutually exclusive.
The tables below provide a comparison between the reported accumulated impairment for expected credit losses for financial
assets in Stage 1 and Stage 2 (weighted by 25 per cent optimistic, 50 per cent baseline and 25 per cent pessimistic scenarios),
and then each scenario weighted by 100 per cent on its own. The optimistic and pessimistic scenarios do not reflect extreme
cases in the sample space of the 25 per cent optimistic and pessimistic scenarios, but rather an economically plausible proxy.
This means that these scenarios are at around 25 per cent and 75 per cent respectively on the distribution curve. In general,
IFRS 9 specific estimates of risk parameters take historical default information into account alongside the current economic
environment. The effects of the estimates based on macroeconomic forecasts are shown in the forward-looking component.
This information is provided for illustrative purposes.

2025 | Accumulated impairment (Stage 1 and 2)
in € million | Simulated scenario | Point in time component | Forward-looking component
100 % Optimistic | 904 | 993 | (90)
100 % Base | 954 | 993 | (39)
100 % Pessimistic | 1,080 | 993 | 87
Weighted average (25/50/25 %) | 976 | 993 | (18)

2024 | Accumulated impairment (Stage 1 and 2)
in € million | Simulated scenario | Point in time component | Forward-looking component
100 % Optimistic | 972 | 1,033 | (61)
100 % Base | 1,056 | 1,033 | 23
100 % Pessimistic | 1,169 | 1,033 | 135
Weighted average (25/50/25 %) | 1,063 | 1,033 | 29

Overall, the macroeconomic scenarios are currently better than the long-term average, leading to an decrease of the forward-
looking component of € 18 million.
The positive scenario, which is presented in the table below, follows the premise that all exposures are classified as Stage 1 and
all macroeconomic and geopolitical risks are not relevant.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
450 Consolidated financial statements
The table below shows the impact of staging on accumulated impairment for financial assets on the assumption that all
accumulated impairment is measured based on twelve-month expected losses (Stage 1).

| Accumulated impairment (Stage 1 and 2)
in € million | 2025 | 2024
Accumulated impairment if 100 % in Stage 1 | 514 | 572
Weighted average (25/50/25 %) | 976 | 1,063
Additional amounts in Stage 2 due to staging | 461 | 490

The negative scenario assumes that all exposures are classified as Stage 2. As a result, all macroeconomic and geopolitical
risks are considered in this analysis.
The table below shows the impact of staging on accumulated impairment for financial assets on the assumption that all
accumulated impairment is measured based on lifetime expected losses (Stage 2).

| Accumulated impairment (Stage 1 and 2)
in € million | 2025 | 2024
Accumulated impairment if 100 % in Stage 2 | 2,063 | 1,721
Weighted average (25/50/25 %) | 976 | 1,063
Additional amounts in Stage 2 | 1,088 | 658

The table below provides a comparison between the reported accumulated impairment for expected credit losses for financial
assets in Stage 3 and the pessimistic scenario weighted by 100 per cent. The pessimistic scenario does not reflect an extreme
case from the result range of the 25 per cent most pessimistic scenarios, but an economically plausible representative of it.

| Accumulated impairment (Stage 3)
in € million | 2025 | 2024
Pessimistic scenario | 1,801 | 2,193
Weighted average | 1,480 | 1,909
Increase in provisions due to pessimistic scenario | 321 | 284

Derecognition of financial assets
Loans and debt securities are written-off (either partially or fully) where there is no expectation of payment or recovery. This
happens when the borrower no longer has income from operations and collateral values cannot generate sufficient cash flows.
For the exposure of companies in bankruptcy, loans are written down to the value of the collateral if the company no longer
generates cash flows from its operating business. The retail business takes qualitative factors into account. In cases where no
payment has been made for one year, the outstanding amounts are written-off even though derecognized assets may remain
subject to enforcement activities. For the exposure of companies in gone concern cases, loans are written down to the value of
the collateral if the company no longer generates cash flows from its operating business. The contractual amount outstanding
on financial assets that were written off and are still subject to enforcement activity was € 1,401 million (previous year: € 1,297
million).
Derecognition of financial liabilities
The Group derecognizes a financial liability if the obligations of the Group have been paid, expired, or revoked. The income or
expense from the repurchase of own liabilities is shown in the notes under (6) Other net operating income. The repurchase of
own bonds also falls under derecognition of financial liabilities. Differences on repurchase between the carrying amount of the
liability (including premiums and discounts) and the purchase price are reported in the income statement under other net
operating income unless they are liabilities designated at fair value. If the Group repurchases financial liabilities that are
accounted for using the fair value option, fair value changes resulting from a deterioration of the Group’s creditworthiness
(and thus a change in the default risk of the financial liability) are recognized through other comprehensive income and not
reclassified to profit or loss.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 451
The following table shows the gross carrying amount and impairment of the financial assets – amortized cost and financial
assets – fair value through other comprehensive income that have moved in the reporting period from expected twelve-month
losses (Stage 1) to expected lifetime losses (Stages 2 and 3) or vice versa:

2025 | Gross carrying amount | Impairment | ECL coverage ratio
in € million | 12-month ECL | Lifetime ECL | 12-month ECL | Lifetime ECL | 12-month ECL | Lifetime ECL
Movement from 12-month ECL to lifetime ECL | (6,461) | 6,461 | (55) | 342 | 0.8% | 5.3%
Central banks | (60) | 60 | 0 | 0 | 0.0% | 0.0%
General governments | (139) | 139 | 0 | 1 | 0.1% | 0.6%
Banks | (38) | 38 | 0 | 0 | 0.0% | 0.6%
Other financial corporations | (257) | 257 | (2) | 20 | 0.6% | 7.9%
Non-financial corporations | (3,643) | 3,643 | (36) | 158 | 1.0% | 4.3%
Households | (2,323) | 2,323 | (17) | 163 | 0.7% | 7.0%
Movement from lifetime ECL to 12- month ECL | 6,364 | (6,364) | 22 | (258) | 0.3% | 4.1%
Central banks | 0 | 0 | 0 | 0 | - | -
General governments | 29 | (29) | 0 | (3) | 1.2% | 10.3%
Banks | 295 | (295) | 0 | (1) | 0.0% | 0.4%
Other financial corporations | 589 | (589) | 1 | (13) | 0.2% | 2.2%
Non-financial corporations | 2,205 | (2,205) | 15 | (171) | 0.7% | 7.7%
Households | 3,245 | (3,245) | 5 | (70) | 0.2% | 2.2%

The increase in expected credit losses arising from the measurement of the loss allowance moving from twelve-month
expected credit losses to lifetime losses was € 287 million (previous year: € 333 million). The decrease in expected credit losses
arising from the measurement of the loss allowance moving from lifetime losses to twelve-month expected credit losses was
€ 237 million (previous year: € 169 million).

2024 | Gross carrying amount | Impairment | ECL coverage ratio
in € million | 12-month ECL | Lifetime ECL | 12-month ECL | Lifetime ECL | 12-month ECL | Lifetime ECL
Movement from 12-month ECL to lifetime ECL | (5,828) | 5,828 | (55) | 388 | 0.9% | 6.7%
Central banks | 0 | 0 | 0 | 0 | 0.0% | 0.0%
General governments | (141) | 141 | (3) | 4 | 2.5% | 3.2%
Banks | (32) | 32 | 0 | 0 | 0.0% | 0.8%
Other financial corporations | (497) | 497 | (1) | 7 | 0.3% | 1.5%
Non-financial corporations | (3,166) | 3,166 | (30) | 207 | 0.9% | 6.5%
Households | (1,992) | 1,992 | (20) | 169 | 1.0% | 8.5%
Movement from lifetime ECL to 12- month ECL | 5,857 | (5,857) | 20 | (189) | 0.3% | 3.2%
Central banks | 29 | (29) | 0 | 0 | 0.0% | 0.0%
General governments | 74 | (74) | 0 | (1) | 0.0% | 1.0%
Banks | 214 | (214) | 0 | 0 | 0.1% | 0.2%
Other financial corporations | 461 | (461) | 1 | (10) | 0.2% | 2.1%
Non-financial corporations | 2,023 | (2,023) | 10 | (82) | 0.5% | 4.1%
Households | 3,055 | (3,055) | 8 | (95) | 0.3% | 3.1%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
452 Consolidated financial statements
(32) Collateral and maximum exposure to credit risk
The following table contains details of the maximum exposure as the basis for the following disclosures regarding collateral:

2025 | Maximum exposure to credit risk
in € million | Not subject to impairment standards | Subject to impairment standards | hereof loans and advances non-trading as well as loan commitments, financial guarantees and other commitments
Financial assets - amortized cost | 0 | 157,739 | 119,563
Financial assets - fair value through other comprehensive income¹ | 0 | 4,275 | 0
Non-trading financial assets - mandatorily fair value through profit/loss | 1,344 | 0 | 934
Financial assets - designated fair value through profit/loss | 208 | 0 | 0
Financial assets - held for trading | 6,707 | 0 | 0
On-balance | 8,259 | 162,015 | 120,497
Loan commitments, financial guarantees and other commitments | 0 | 58,307 | 58,307
Total | 8,259 | 220,322 | 178,804
1 Gross carrying amount is defined according to FINREP Annex V 1.34(b)

2024 | Maximum exposure to credit risk
in € million | Not subject to impairment standards | Subject to impairment standards | hereof loans and advances non-trading as well as loan commitments, financial guarantees and other commitments
Financial assets - amortized cost | 0 | 150,512 | 119,676
Financial assets - fair value through other comprehensive income¹ | 0 | 3,431 | 0
Non-trading financial assets - mandatorily fair value through profit/loss | 1,088 | 0 | 689
Financial assets - designated fair value through profit/loss | 304 | 0 | 0
Financial assets - held for trading | 5,492 | 0 | 0
On-balance | 6,885 | 153,943 | 120,365
Loan commitments, financial guarantees and other commitments | 0 | 52,445 | 52,445
Total | 6,885 | 206,388 | 172,811
1 Gross carrying amount is defined according to FINREP Annex V 1.34(b)

RBI employs a range of policies to mitigate credit risk, the most common of which is the acceptance of collateral for loans and
advances provided. A valuation of collateral is performed during the credit approval process. This is then reviewed periodically
using various validation processes. The main types of collateral which are accepted in RBI are residential and commercial real
estate collateral, financial collateral, guarantees and movable goods. Particularly in the case of commercial and residential real
estate collateral, special attention is paid during the valuation and revaluation to adapting the valuation parameters to the
market environment and the expected medium-term development in such a way that the collateral is valued in a prudent and
sustainable manner. Long-term financing is generally secured, and revolving credit facilities are generally unsecured. Debt
securities are mainly unsecured. Derivatives can be secured by cash or master netting agreements. Collateral from leasing
business primarily consist of the value of the leased assets themselves. Items shown in cash and cash equivalents are
considered to have negligible credit risk. Collateral is taken into account uniformly on the basis of Group directives. The Group
directives regarding obtaining collateral were not significantly changed during the reporting period; however, they are updated
on a yearly basis.
The collateral values shown in the tables are capped at the maximum value of the gross carrying amount of the financial
asset. The following table shows non-trading loans and advances as well as loan commitments, financial guarantees and
other commitments that are subject to impairment:

2025 | Maximum exposure to credit risk | Fair value of collateral | Credit risk exposure net of collateral
in € million
Central banks | 8,431 | 7,851 | 580
General governments | 3,918 | 587 | 3,331
Banks | 4,253 | 1,825 | 2,428
Other financial corporations | 10,038 | 4,582 | 5,456
Non-financial corporations | 48,791 | 22,134 | 26,657
Households | 45,066 | 28,833 | 16,232
Loan commitments, financial guarantees and other commitments | 58,307 | 5,464 | 52,843
Total | 178,804 | 71,276 | 107,528

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 453

2024 | Maximum exposure to credit risk | Fair value of collateral | Credit risk exposure net of collateral
in € million
Central banks | 13,784 | 7,548 | 6,236
General governments | 3,817 | 872 | 2,945
Banks | 4,276 | 1,667 | 2,608
Other financial corporations | 10,549 | 4,860 | 5,690
Non-financial corporations | 46,900 | 21,032 | 25,868
Households | 41,040 | 26,950 | 14,090
Loan commitments, financial guarantees and other commitments | 52,445 | 5,468 | 46,977
Total | 172,811 | 68,397 | 104,414

More than half of collateral which can be considered by RBI relate to loans collateralized by immovable property and of this
more than 70 per cent is residential immovable property. Additional collateral mainly comes from guarantees received which
include reverse repo and securities lending business, among other things.
Details of the maximum exposure from financial assets in Stage 3 and the corresponding collateral:

2025 | Maximum exposure to credit risk (Stage 3) | Fair value of collateral (Stage 3) | Credit risk exposure net of collateral (Stage 3) | Impairment (Stage 3)
in € million
Central banks | 0 | 0 | 0 | 0
General governments | 144 | 136 | 8 | (6)
Banks | 1 | 0 | 1 | (1)
Other financial corporations | 120 | 7 | 113 | (32)
Non-financial corporations | 1,772 | 712 | 1,060 | (774)
Households | 1,025 | 225 | 801 | (612)
Loan commitments, financial guarantees and other commitments | 151 | 11 | 140 | (50)
Total | 3,214 | 1,090 | 2,123 | (1,474)

2024 | Maximum exposure to credit risk (Stage 3) | Fair value of collateral (Stage 3) | Credit risk exposure net of collateral (Stage 3) | Impairment (Stage 3)
in € million
Central banks | 0 | 0 | 0 | 0
General governments | 163 | 155 | 8 | (7)
Banks | 1 | 0 | 1 | (1)
Other financial corporations | 290 | 125 | 165 | (119)
Non-financial corporations | 2,115 | 434 | 1,681 | (1,107)
Households | 1,000 | 223 | 777 | (615)
Loan commitments, financial guarantees and other commitments | 215 | 12 | 203 | (56)
Total | 3,784 | 949 | 2,835 | (1,904)

RBI holds an immaterial amount of repossessed assets on the statement of financial position.
(33) Offsetting of financial assets and liabilities
The disclosures set out in the tables below include financial assets and financial liabilities that are offset in the Group’s
statement of financial position or are subject to an enforceable/unenforceable master netting arrangement or similar
agreement that covers similar financial instruments, irrespective of whether they are offset in the statement of financial
position or not.
Where the borrower and lender are the same, offsetting of loans and liabilities with matching maturities and currencies occurs
if a legal right, by contract or otherwise, exists and offsetting is in line with the actually expected course of the business.
Similar agreements include derivative clearing agreements, global master repurchase agreements, and global master
securities lending agreements. Similar financial instruments include derivatives, sales and repurchase agreements, reverse sale
and repurchase agreements, and securities borrowing and lending agreements.
Some of the agreements are not set-off in the statement of financial position. This is because they create, for the parties to
the agreement, a right of set-off of recognized amounts that is enforceable only following an event of default, insolvency or
bankruptcy of the Group or the counterparties or following other predetermined events. In addition, the Group and its
counterparties do not intend to settle on a net basis or to realize the assets and settle the liabilities simultaneously. The Group
receives and gives collaterals in the form of cash and marketable securities.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
454 Consolidated financial statements

2025 | Gross amount | Net amount recognized financial assets | Amounts from global netting agreements | Net- amount
in € million | recognized financial assets | recognized financial liabilities set-off
Financial instruments | Cash collateral received
Derivatives (legally enforceable) | 5,709 | 1,628 | 4,081 | 2,491 | 1,184 | 405
Reverse repurchase, securities lending and similar agreements (legally enforceable) | 16,861 | 0 | 16,861 | 16,684 | 0 | 177
Total | 22,570 | 1,628 | 20,942 | 19,175 | 1,184 | 583

2025 | Gross amount | Net amount recognized financial liabilities | Amounts from global netting agreements | Net- amount
in € million | recognized financial liabilities | recognized financial assets set-off
Financial instruments | Cash collateral received
Derivatives (legally enforceable) | 4,964 | 1,628 | 3,336 | 2,472 | 595 | 269
Reverse repurchase, securities lending and similar agreements (legally enforceable) | 2,924 | 0 | 2,924 | 2,858 | 0 | 66
Total | 7,888 | 1,628 | 6,259 | 5,329 | 595 | 335

In the reporting period, assets which were not subject to legally enforceable netting agreements amounted to € 189,323 million
(previous year: € 176,667 million), of which an immaterial part was accounted for by derivative financial instruments and cash
balances from reverse repo business. Liabilities which were not subject to legally enforceable netting agreements totaled
€ 181,542 million in 2025 (previous year: € 171,218 million), of which only an immaterial part was accounted for by derivative
financial instruments and cash deposits from repo business.

2024 | Gross amount | Net amount recognized financial assets | Amounts from global netting agreements | Net- amount
in € million | recognized financial assets | recognized financial liabilities set-off
Financial instruments | Cash collateral received
Derivatives (legally enforceable) | 8,076 | 4,098 | 3,978 | 2,766 | 854 | 358
Reverse repurchase, securities lending and similar agreements (legally enforceable) | 19,206 | 0 | 19,206 | 18,923 | 0 | 283
Total | 27,282 | 4,098 | 23,184 | 21,689 | 854 | 641

2024 | Gross amount | Net amount recognized financial liabilities | Amounts from global netting agreements | Net- amount
in € million | recognized financial liabilities | recognized financial assets set-off
Financial instruments | Cash collateral received
Derivatives (legally enforceable) | 7,995 | 4,098 | 3,897 | 2,738 | 806 | 352
Reverse repurchase, securities lending and similar agreements (legally enforceable) | 4,396 | 0 | 4,396 | 4,275 | 0 | 122
Total | 12,391 | 4,098 | 8,293 | 7,013 | 806 | 474

(34) Securitization (RBI as originator)
RBI securitizes various financial assets by placing risks of the mezzanine or junior tranches via synthetic securitization to third
parties. This is done on a case-by-case basis by transferring the risks of the respective tranches to institutional investors, to
supranationals, or to special purpose vehicles (SPV) that issue securities to investors. The transactions use direct financial
guarantees issued by a third party, covering the risk of the mezzanine or junior tranche. Depending on which tranche is placed
externally, RBI, acting as the originator, retains securitization positions in the form of senior and/or subordinated tranches.
The objective of the Group’s securitization transactions is to relieve Group regulatory total capital and to use additional
refinancing sources.
The following transactions for all or at least some tranches were executed with external contractual partners, were still active
in the reporting year 2025 and resulted in a credit risk mitigation which led to a reduction in risk-weighted assets in regulatory
reporting. The stated amounts represent the securitized portfolio and the underlying receivables as well as the externally
placed tranche at the balance sheet date.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 455

in € million | Date of contract | End of maturity | Max. volume | Securitized portfolio | Outstanding portfolio 2 | Portfolio | Externally placed tranche | Amount of the externally placed tranche
Synthetic Transaction ROOF RO Personal Loans 2024 | Oct. 2025 | June 2037 | 1,053 | 997 | 1,049 | Private customer loans | Mezzanine | 59
Synthetic Transaction ROOF HR Personal Loans 2024 | Dec. 2024 | Dec. 2036 | 554 | 554 | 583 | Private customer loans | Mezzanine | 55
Synthetic Transaction ROOF CORPORATE 2024 | Nov. 2024 | Sept. 2034 | 2,764 | 2,764 | 7,851 | Corporate loans | Mezzanine | 152
Synthetic Transaction ROOF HR MORTGAGES 2023 | Dec. 2023 | Nov. 2035 | 660 | 597 | 629 | Mortgage loans | Mezzanine | 55
Synthetic Transaction ROOF CORPORATE 2023 | Sept. 2023 | Oct. 2033 | 1,852 | 1,001 | 3,050 | Corporate loans | Mezzanine | 55
Synthetic Transaction ROOF CROATIA 2022 | Dec. 2022 | June 2034 | 366 | 202 | 371 | Corporate loans | Mezzanine | 14
Synthetic Transaction ROOF HUNGARY 2022 | Dec. 2022 | March 2038 | 785 | 832 | 876 | Building society loans | Mezzanine | 106
Synthetic Transaction ROOF ROMANIA 2022 | Nov. 2022 | June 2039 | 307 | 205 | 252 | Corporate loans | Mezzanine | 17
Synthetic Transaction ROOF CORPORATE 2022 | June 2022 | Dec. 2032 | 1,818 | 997 | 3,173 | Corporate loans | Mezzanine | 58
Synthetic Transaction ROOF CORPORATE 2021 | Dec. 2021 | Dec. 2031 | 4,080 | 1,875 | 3,871 | Corporate loans | Mezzanine | 106
Synthetic Transaction ROOF CRE 2019 1 | Oct. 2019 | Sept. 2029 | 1,262 | 752 | 2,133 | Corporate customer, Project finance | Mezzanine | 50
Synthetic Transaction EIF Western Balkans EDIF Serbia | Nov. 2018 | Dec. 2028 | 20 | 0 | 0 | SME loans | Junior | 0
Synthetic Transaction EIF COSME Serbia | Dec. 2020 | June 2034 | 64 | 3 | 7 | SME loans | Junior | 0
Synthetic Transaction State Guarantee Serbia | May 2020 | April 2024 | 147 | 0 | 0 | SME loans | Junior | 0
Synthetic Transaction EIF DCFTA Ukraine | Dec. 2017 | Dec. 2031 | 176 | 28 | 40 | SME loans | Junior | 10
Synthetic Transaction EIF JEREMIE Slovakia | March 2013 | June 2025 | 60 | 0 | 0 | SME loans | Junior | 0
Synthetic Transaction EIF Western Balkans EDIF Albania | Dec. 2016 | June 2028 | 17 | 0 | 0 | SME loans | Junior | 0
Synthetic Transaction EIF COSME Romania | April 2017 | Dec. 2034 | 434 | 16 | 29 | SME loans | Junior | 12
Synthetic Transaction EIF EASI Romania | July 2020 | Dec. 2032 | 65 | 3 | 3 | SME loans | Junior | 3
Synthetic Transaction EIF Microfinance Romania | June 2023 | June 2035 | 53 | 23 | 29 | SME loans | Junior | 4
Synthetic Transaction EIB RRF Romania | June 2024 | Dec. 2051 | 375 | 40 | 51 | SME loans | Junior | 9
Synthetic Transaction EBRD Unfunded RSF Ukraine | Oct. 2023 | Dec. 2029 | 50 | 5 | 11 | Corporate and SME loans | Junior | 2
1 Junior tranche held in the Group 2 Outstanding portfolio (securitized and non-securitized) SME: Small and medium-sized enterprises

The synthetic ROOF transactions are split into a senior, a mezzanine and a junior tranche. The credit risk of the mezzanine
tranche is guaranteed by either institutional investors or supranationals, while the credit risk of the junior and senior tranches
is retained.
In 2025 the following new transactions with Significant Risk Transfer (SRT) were realized:
· Raiffeisenbank S.A., Bucharest executed ROOF RO Personal Loans 2025. The credit risk of the mezzanine tranche is
guaranteed by institutional investors, while the credit risk of the junior and senior tranches is retained.
· As part of the EIF InvestEU programme, Raiffeisenbank S.A., Bucharest, signed a portfolio guarantee for microfinance
(EIF Microfinance Romania), with the objectives to promote job creation and social inclusion. Significant risk transfer
for this transaction is being recognized from year-end 2025 onwards.
· As part of the EIB Resolution and Resilience Facility, Raiffeisenbank S.A., Bucharest, signed a portfolio guarantee (EIB
RRF Romania), which is aimed at mitigating the economic and social impact of the COVID-19 pandemic. Significant
risk transfer for this transaction is being recognized from year-end 2025 onwards.
The ROOF HUNGARY 2022 transaction has been upsized, resulting in an increase of the portfolio parameters, as well as the
volume of the externally placed tranche.
As part of the EBRD Unfunded Risk Sharing Facility program, Raiffeisen Bank JSC, Kiev, signed a portfolio guarantee agreement
which was funded by the EU and which is aimed to facilitate access to finance for private corporate companies under the
Resilience and Livelihood Framework and the SME Competitiveness in Eastern Partnership program.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
456 Consolidated financial statements
As part of the Western Balkans Enterprise Development and Innovation Facility, Raiffeisen Bank Serbia, Belgrade, signed a
portfolio guarantee agreement which was funded by the EU and which is aimed at providing access to finance for small and
medium-sized enterprises. Significant risk transfer for this transaction is being recognized from year-end 2022 onwards.
As part of the COSME initiative, Raiffeisen Bank Serbia, Belgrade, signed a portfolio guarantee agreement in 2020, which was
funded by the EU and which is aimed at providing access to finance for small and medium-sized enterprises. Significant risk
transfer for this transaction is being recognized from year-end 2022 onwards.
As part of a State Guarantee initiative, Raiffeisen Bank Serbia, Belgrade, signed a portfolio guarantee agreement in 2020, which
was funded by the Serbian National Bank, and which is aimed at providing support during the COVID-19 crisis. Significant risk
transfer for this transaction is being recognized from January 2021 onwards.
As part of the DCFTA initiative, Raiffeisen Bank JSC, Kiev, signed a portfolio guarantee agreement in 2017, which was funded by
the EU and which is aimed at providing access to finance for small and medium-sized enterprises. Significant risk transfer for
this transaction is being recognized from year-end 2021 onwards.
As part of the JEREMIE initiative, the participating subsidiaries (Raiffeisenbank S.A., Bucharest, and Tatra banka a.s., Bratislava)
have received guarantees from the European Investment Fund (EIF) to support lending to small and medium-sized enterprises.
Since 2016 the Slovakian JEREMIE transaction has been converted into a funded credit guarantee via a Slovakian state-owned
fund, EIF is no longer part of the transaction.
As part of the Western Balkans Enterprise Development and Innovation Facility, Raiffeisenbank Sh.a., Tirana, signed a portfolio
guarantee agreement which was funded by the EU and which, like the JEREMIE initiatives, is aimed at providing access to
finance for small and medium-sized enterprises.
As part of the COSME initiative, Raiffeisenbank S.A., Bucharest, signed a portfolio guarantee agreement in 2017, which was
funded by the EU and which, like the JEREMIE initiatives, is aimed at providing access to finance for small and medium-sized
enterprises. Significant risk transfer for this transaction is being recognized from year-end 2020 onwards.
As part of the EaSI initiative, Raiffeisenbank S.A., Bucharest, signed a portfolio guarantee agreement which was funded by the
EU and which, like the JEREMIE initiatives, is aimed at providing access to finance for small and medium-sized enterprises.
The ROOF RCBZ 2023 transaction was terminated during 2025.
Reimbursement assets were recognized for the ROOF CRE 2019 transaction in the amount of € 0.4 million, for the ROOF
CORPORATE 2021 transaction in the amount of € 36 million, for the ROOF CORPORATE 2022 transaction in the amount of € 18
million, and for ROOF CORPORATE 2024 transaction in the amount of € 10 million, reflecting a deterioration of the underlying
portfolio. The reimbursement asset mirrors the potential claim against the guarantor of the mezzanine tranche. For the
transaction ROOF CRE 2019, a payment in the amount of € 5.6 million was received from the guarantor covering losses in the
mezzanine tranche. For the transaction ROOF CORPORATE 2021, a payment in the amount of € 5.7 million was received from
the guarantor covering losses in the mezzanine tranche.
(35) Transferred assets
The Group enters into transactions that result in the transfer of trading assets, financial investments and loans and advances
to customers. The transferred financial assets continue to be recognized in their entirety or to the extent of the Group’s
continuing involvement or are derecognized in their entirety. The Group transfers financial assets that are not derecognized in
their entirety or for which the Group has continuing involvement primarily through sale and repurchase of securities, securities
lending, and securitization activities.
Transferred financial assets not derecognized
Sale and repurchase agreements are transactions in which the Group sells a security and simultaneously agrees to repurchase
it at a fixed price on a future date. The Group continues to recognize the securities in their entirety in the statement of
financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is
recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Because the
Group sells the contractual rights to the cash flows of the securities, it does not have the ability to use the transferred assets
during the term of the arrangement.
Securities lending agreements are transactions in which the Group lends securities for a fee and receives cash as collateral.
The Group continues to recognize the securities in their entirety in the statement of financial position because it retains
substantially all of the risks and rewards of ownership. The cash received is recognized as a financial asset and a financial
liability is recognized for the obligation to repay it. Because as part of the lending arrangement the Group sells the contractual
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 457
rights to the cash flows of the securities, it does not have the ability to use the transferred assets during the term of the
arrangement.
Loans and advances to customers are sold by the Group to securitization vehicles that in turn issue notes to investors
collateralized by the purchased assets. In the securitizations in which the Group transfers loans and advances to an
unconsolidated securitization vehicle, it retains some credit risk while transferring some credit risk, prepayment, and interest
rate risk to the vehicle. The Group therefore does not retain or transfer substantially all of the risks and rewards of such assets.

2025 | Transferred assets | Associated liabilities
in € million | Carrying amount | hereof securitizations | hereof repurchase agreements | Carrying amount | hereof securitizations | hereof repurchase agreements
Financial assets - held for trading | 49 | 0 | 49 | 49 | 0 | 49
Financial assets - amortized cost | 2,698 | 0 | 2,698 | 2,592 | 0 | 2,592
Total | 2,748 | 0 | 2,748 | 2,641 | 0 | 2,641

2024 | Transferred assets | Associated liabilities
in € million | Carrying amount | hereof securitizations | hereof repurchase agreements | Carrying amount | hereof securitizations | hereof repurchase agreements
Financial assets - held for trading | 441 | 0 | 441 | 441 | 0 | 441
Financial assets - amortized cost | 3,366 | 82 | 3,284 | 3,270 | 67 | 3,203
Total | 3,807 | 82 | 3,725 | 3,711 | 67 | 3,644

The Group currently has no securitization transactions in which financial assets are partly derecognized.
(36) Assets pledged as collateral and received financial assets
The Group pledges assets mainly for repurchase agreements, securities lending agreements as well as other lending
arrangements and for margining purposes in relation to derivative liabilities. The table below contains assets from repo
business, securities lending business, securitizations, debentures transferred as collateral of liabilities or guarantees (i.e.
collateralized deposits):

| 2025 | 2024
in € million | Pledged | Otherwise restricted with liabilities | Pledged | Otherwise restricted with liabilities
Financial assets - held for trading | 73 | 0 | 476 | 0
Non-trading financial assets - mandatorily fair value through profit/loss | 43 | 0 | 18 | 0
Financial assets - designated fair value through profit/loss | 193 | 0 | 234 | 0
Financial assets - fair value through other comprehensive income | 537 | 0 | 330 | 0
Financial assets - amortized cost | 20,501 | 1,373 | 18,274 | 1,407
Total | 21,347 | 1,373 | 19,332 | 1,407

Statutory, contractual, or regulatory requirements as well as protective rights of non-controlling interests might restrict the
ability of the Group to access and transfer assets freely to or from other Group entities and settle liabilities. As at the reporting
date, the Group has not granted any material protective rights associated with non-controlling interests and therefore these
were not a source of significant restrictions.
The following products restrict the Group in the use of its assets: repurchase agreements, securities lending contracts as well
as other lending contracts for margining purposes in relation to derivative liabilities, securitizations, and various insurance
activities. The table below shows assets pledged as collateral, which are therefore connected to a liability. These assets are
restricted from usage to secure funding, for legal or other reasons.

in € million | 2025 | 2024
Securities and other financial assets accepted as collateral which can be sold or repledged | 16,825 | 19,664
hereof which have been sold or repledged | 4,458 | 4,540

The Group received collaterals which can be sold or repledged even if no default occurs in the course of reverse repo business,
securities lending business, derivative and other transactions.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
458 Consolidated financial statements
(37) Breakdown of remaining terms of maturity

Assets | Current assets | Non-current assets
2025 | Due at call or without maturity | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
in € million
Cash, balances at central banks and other demand deposits | 35,005 | 334 | 0 | 0 | 0
Financial assets - amortized cost | 10,969 | 20,588 | 17,299 | 51,215 | 55,437
Financial assets - fair value through other comprehensive income | 238 | 810 | 824 | 1,899 | 715
Non-trading financial assets - mandatorily fair value through profit/loss | 166 | 38 | 70 | 268 | 806
Financial assets - designated fair value through profit/ loss | 1 | 4 | 6 | 197 | 0
Financial assets - held for trading | 422 | 3,298 | 296 | 1,514 | 1,700
Hedge accounting | (368) | 120 | 75 | 232 | 667
Investments in subsidiaries and associates | 944 | — | — | — | —
Tangible fixed assets | 1,729 | — | — | — | —
Intangible fixed assets | 1,108 | — | — | — | —
Current tax assets | 124 | — | — | — | —
Deferred tax assets | 81 | 2 | 11 | 73 | 1
Non-current assets and disposal groups classified as held for sale | 4 | 0 | 0 | 0 | 0
Other assets | 560 | 746 | 24 | 12 | 1
Total | 50,983 | 25,940 | 18,605 | 55,410 | 59,326

Liabilities | Short-term liabilities | Long-term liabilities
2025 | Due at call or without maturity | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
in € million
Financial liabilities - amortized cost | 91,160 | 29,675 | 13,615 | 22,998 | 13,140
Financial liabilities - designated fair value through profit/ loss | 0 | 90 | 267 | 510 | 194
Financial liabilities - held for trading | 152 | 1,731 | 936 | 5,546 | 2,717
Hedge accounting | (347) | 41 | 55 | 558 | 292
Provisions for liabilities and charges | 1,737 | 37 | 510 | 69 | 321
Current tax liabilities | 74 | 63 | 8 | 0 | 0
Deferred tax liabilities | 46 | 1 | 5 | 3 | 4
Liabilities included in disposal groups classified as held for sale | 0 | 0 | 0 | 0 | 0
Other liabilities | 886 | 422 | 40 | 105 | 141
Subtotal | 93,709 | 32,060 | 15,436 | 29,787 | 16,809
Equity | 22,463 | 0 | 0 | 0 | 0
Total | 116,173 | 32,060 | 15,436 | 29,787 | 16,809

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 459

Assets | Current assets | Non-current assets
2024 | Due at call or without maturity | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
in € million
Cash, balances at central banks and other demand deposits | 33,782 | 1,089 | 0 | 0 | 0
Financial assets - amortized cost | 16,164 | 19,630 | 14,980 | 47,741 | 49,186
Financial assets - fair value through other comprehensive income | 216 | 520 | 419 | 1,653 | 802
Non-trading financial assets - mandatorily fair value through profit/loss | 161 | 27 | 46 | 239 | 622
Financial assets - designated fair value through profit/ loss | 2 | 6 | 2 | 293 | 1
Financial assets - held for trading | 384 | 2,104 | 299 | 1,580 | 1,578
Hedge accounting | (235) | 32 | 58 | 403 | 521
Investments in subsidiaries and associates | 871 | — | — | — | —
Tangible fixed assets | 1,683 | — | — | — | —
Intangible fixed assets | 1,003 | — | — | — | —
Current tax assets | 130 | — | — | — | —
Deferred tax assets | 87 | (5) | 16 | 116 | 1
Non-current assets and disposal groups classified as held for sale | 9 | 0 | 0 | 0 | 0
Other assets | 585 | 1,023 | 18 | 9 | 1
Total | 54,842 | 24,425 | 15,837 | 52,035 | 52,712

Liabilities | Short-term liabilities | Long-term liabilities
2024 | Due at call or without maturity | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
in € million
Financial liabilities - amortized cost | 87,071 | 24,663 | 15,298 | 25,826 | 10,458
Financial liabilities - designated fair value through profit/ loss | 0 | 33 | 70 | 839 | 166
Financial liabilities - held for trading | 62 | 1,339 | 596 | 4,926 | 2,382
Hedge accounting | (371) | 20 | 56 | 707 | 538
Provisions for liabilities and charges | 1,496 | 17 | 920 | 129 | 340
Current tax liabilities | 103 | 110 | 4 | 0 | 0
Deferred tax liabilities | 24 | 0 | 7 | 16 | 7
Liabilities included in disposal groups classified as held for sale | 0 | 0 | 0 | 0 | 0
Other liabilities | 943 | 364 | 49 | 157 | 150
Subtotal | 89,327 | 26,546 | 17,000 | 32,598 | 14,040
Equity | 20,340 | — | — | — | —
Total | 109,666 | 26,546 | 17,000 | 32,598 | 14,040

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
460 Consolidated financial statements
Risk report
Active risk management is a core competency of RBI. In order to effectively identify, measure, and manage risks the Group
continues to develop its comprehensive risk management system. The management of ESG risks (environmental, social,
corporate governance) is implemented in a cross-departmental approach and covers all risk areas. For detailed information
please refer to the CSRD part in the report. Risk management is an integral part of overall bank management. Particularly, in
addition to legal and regulatory requirements, it considers the nature, scale, and complexity of the Group’s business activities
and the resulting risks. The figures below refer to the regulatory scope of consolidation pursuant to CRR, which differs slightly
from the scope of consolidation pursuant to IFRS. In terms of risk, the companies in the IFRS scope of consolidation that are not
included therein are covered by the participation risk.
The risk report describes the principles and organization of risk management and describes current risk exposure in all material
risk categories.
(38) Risk management principles
The Group has a system of risk principles and procedures in place for measuring and monitoring risk, which is aimed at control-
ling and managing material risks in the Group. The risk policy and risk management principles are laid out by the Management
Board. These are regularly reported and discussed in the Supervisory Board committees. The fundamental risk policy principles
include:
· Risk awareness: A risk culture is promoted which consciously deals with the risks inherent in the banking business, in
particular through the transparent presentation of information and the use of suitable methods.
· Risk appetite: Risk-taking is cautious and requires a predefined minimum return on the risk.
· Risk management: State-of-the-art risk management and risk controlling technologies are implemented which
correspond to the materiality of the risks; risk data aggregation and risk report technologies are also effectively
combined.
· Regulatory requirements: All provisions and requirements of the supervisory authorities relating to risk management
are taken into account and complied with.
· Integrated risk management: Credit, country, market, liquidity, and operational risks are managed as key risks on a
group-wide basis. For this purpose, these risks are measured, aggregated, limited, and compared to available risk
coverage capital.
· Standardized methodologies: Risk measurement and risk limitation methods are standardized group-wide in order
to en-sure a consistent and coherent approach to risk management. This forms the basis for consistent overall bank
management across all countries and business lines in RBI.
· Continuous planning: Risk strategies and risk capital are reviewed and approved in the course of the annual
budgeting and planning process, whereby special attention is also paid to preventing risk concentrations.
· Independent control: A clear personnel and organizational separation is maintained between business operations
and all risk management or risk control activities.
· Ex ante and ex post control: Risks are consistently measured within the scope of product selling and in risk-adjusted
performance measurement. Thereby it is ensured that business in general is conducted only under risk-return
considerations and that there are no incentives for taking high risks.
· New business areas: New products and market launches are subject to a prior, specific risk analysis and risk
assessment and are decided on by the relevant committees.
Individual risk management units of the Group develop detailed risk strategies, which set more concrete risk targets and
specific standards in compliance with these general principles. The overall Group risk strategy is derived from the Group’s
business strategy and the risk appetite and adds risk-relevant aspects to the planned business structure and strategic
development. These aspects include for example structural limits and capital ratio targets which have to be met in the
budgeting process and in the scope of business decisions. More specific targets for individual risk categories are set in detailed
risk strategies. The credit risk strategy of the Group, for instance, sets credit portfolio limits for individual countries, segments
and industries and defines the credit approval authority for limit applications.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 461
(39) Organization of risk management
The Management Board of the Group ensures the proper organization and ongoing development of risk management. It
decides which methods are to be employed for identifying, measuring, and monitoring risks, and makes steering decisions ac-
cording to the risk reports and analyses. The Management Board is supported in undertaking these tasks by independent risk
management units and special committees.
Risk management functions are performed on different levels in the Group. RBI AG develops and implements the relevant
concepts as the parent credit institution and in cooperation with the subsidiaries of the Group. The central risk management
units are responsible for the adequate and appropriate implementation of the Group’s risk management processes.
Particularly, they establish common Group directives and set business-specific standards, tools, and practices for all Group
entities.

| Supervisory Board Executive Committee of the Supervisory Board Risk Committee of the Supervisory Board |
Central risk management functions and committees · for all risk categories · for all Group units | Raiffeisen Bank International (Management Board) |
Credit Management (Corporate customers, Banks and Sovereigns, Retail) Credit Portfolio Management Risk Controlling (Credit, Market, Liquidity and Non-financial Risks incl. Operational Risks) Special Exposures Management Group Risk Data and Regulatory Reporting |  |  | Group Risk Committee Group Asset/Liability Committee Market Risk Committee Credit Committees Problem Loan Committee Securitization Committee Group Operational Risk Management & Controls Committee Group Security Committee Data Governance Committee Artificial Intelligence Committee Contingency/Recovery/Resolution Committee |
Local risk management units and committees · for all risk categories · for all Group units |  |  |  |  |
Banks and leasing companies |  |  | Specialist units |

| Consolidation level |  | Group functions |  | Committees |  | Division/department

Local risk management units are established in the Group entities of RBI. They implement the risk policies for specific risk types
and take active steering decisions within the approved risk budgets in order to achieve the targets set in the business policy.
For this purpose, they monitor resulting risks using standardized measurement tools and report them to central risk
management units via defined interfaces.
The central Group Risk Controlling division assumes the independent risk controlling function required by banking law. Its
responsibilities include developing the group-wide framework for overall bank risk management (integrating all risk types) and
preparing independent reports on the risk profile for the Supervisory Board’s Risk Committee, the Group Management Board
and the heads of individual business units. It also measures the required risk coverage capital for different Group units and
calculates the utilization of the allocated risk capital budgets in the internal capital adequacy framework.
Potential impact from geopolitical tensions and increased tariffs from US
Initially, the impact from geopolitical tensions and increased tariffs from US has been assessed during the first half-year of
2025, firstly by identifying the exposure in the potentially most affected sectors and an early intervention exercise on
potentially most impacted exposures, and secondly by conducting an internal stress test.
Furthermore, during the first half of 2025, an early intervention exercise was executed, where in total 205 corporate customer
groups in relevant sectors were analyzed and reviewed. As a result, the ratings of the affected customers were adjusted
accordingly. In parallel the internal rating process has been extended and tariff exposure is added as one of the main risks to
be analyzed and documented since first half of 2025. Material downgrades due to US Tariffs have not happened after the early
intervention during the second quarter 2025. In addition to US tariffs, a special screening of the Top 150 corporate customers
was performed (irrespectively of their industry) related to their liquidity and refinancing risks (maturity wall exercise). Although
no specific downgrades were executed due to that screening, an intensified reporting scheme (account ledgers, liquidity plans)
with 10 per cent of the total customers were agreed due to their short-term refinancing profile. Those customers will – in
addition – continuously be monitored and a monthly to quarterly rating review is performed.
In the third quarter 2025, the US concluded several tariff agreements (e.g. with the European Union), easing the extreme
uncertainty and volatility from the first half year 2025. Some customers still saw minor negative effects from US tariffs,
prompting initial rating corrections and reassessments. Beginning with the fourth quarter 2025, customers with primary US
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
462 Consolidated financial statements
exposure - identified through last year’s early intervention and ongoing rating reviews - are under continuous monitoring due
to potential new tariffs (the Greenland debate).
The internal stress test conducted during the second quarter on further tariff impacts revealed no unexpected effects, and
compared to latest internal and external exercises, the overall effect (as measured via impact on CET1 ratio) was comparably
milder and deemed covered within the approved risk and capital planning. As such, no additional overlays were reserved for
further tariff impacts. The initial evaluation focused primarily on the direct impacts of US tariff policy. However, the affected
portfolio will be closely monitored to assess potential subsequent impacts at an early stage.
Furthermore, RBI’s market risk measures do automatically adjust to higher volatility regimes, special stress scenarios for US
tariffs were added in the market risk scenario calculation. The market moves impacts have been managed within the weekly
market risk committee with no breach of the group risk appetite limit. Margin calls are monitored closely and are well within
the implemented methodology. Overall liquidity situation is stable and not impacted by US tariffs.
High-profile defaults in the US during 2025, such as Tricolor Holdings and First Brands Group, have raised concerns about an
overheating of the US private equity and credit market, and the Non-Banking Financial Institutions (NBFIs) in general, along with
worries about potential spill overs to European markets.
RBI’s principal exposure to private credit and equity comprised Subscription Credit Facilities (SCFs) of approximately one billion
(0.4 per cent of RBI’s total exposure) and Private Equity net asset value financing of about € 210 million at year end 2025.
The SCFs provide bridge financing secured by capital commitments from fund investors. RBI primarily finances private credit
(around € 490 million) and infrastructure (around € 365 million), with the remainder in Private Equity and Real Estate. RBI's SCF
exposures are rated mainly as investment grade (rating grade 1-4) having a diversified pool of investor commitments. RBI's
financing comprises secured credit facilities underwritten against the value of a fund’s underlying portfolio. These facilities
have recourse to a granular, well‑performing asset mix and benefit from significant over‑collateralization of net asset value.
Furthermore, RBI has not been directly affected by defaults.
Risk committees
The Group Risk Committee is the most senior decision-making body for all the Group’s risk-related topic areas. It decides on
the risk management methods and on the control concepts used for the overall Group and for key subdivisions, and is
responsible for ongoing development and implementation of methods and parameters for risk quantification and for refining
steering instruments. This also includes setting the risk appetite and the various risk budgets and limits at overall bank level as
well as monitoring the current risk situation with respect to internal capital adequacy and the corresponding risk limits. It
approves risk management and control activities (such as the allocation of risk capital) and advises the Management Board in
these matters. The Group Risk Committee’s scope of responsibility also includes resolution-related topics and decisions
reflecting the respective guidelines and requirements of the Single Resolution Board (SRB).
The Group Asset/Liability Committee assesses and manages the statement of financial position structure and liquidity risk
and defines the standards for internal funds transfer pricing. It plays an important role in planning long-term funding and
hedging structural interest rate and foreign exchange risks. The Group Capital Management Committee and the Structural FX
Committee are sub-committees of the Group Asset/Liability Committee and analyze, control and manage the regulatory
capital ratios respectively the structural currency and interest rate risk of the Group’s capital position.
The Market Risk Committee controls market risks arising from trading and banking book transactions and establishes
corresponding limits and processes. Particularly, it relies on profit and loss reports, the risks calculated and the limit utilization,
as well as the results of scenario analyses and stress tests with respect to market risks.
The Credit Committees are staffed by front office and back office representatives, with the staff assignments depending on
the type of customer (corporate customers, banks, sovereigns and retail). The committees decide upon the specific lending
criteria for the different customer segments and countries and make all credit decisions concerning those segments and
countries in connection with the credit approval process (depending on rating and exposure size).
The Problem Loan Committee is the most important committee in the evaluation and decision-making process concerning
customers with limited payment ability. Its chairman is the Chief Risk Officer (CRO). Further members with voting rights are
those members of the Management Board responsible for the customer divisions, the Chief Financial Officer (CFO), and the
relevant division and department managers from risk management and special exposures management.
The Securitization Committee is the decision-making committee for limit requests in relation to securitization positions
within the specific decision-making authority framework. It develops proposals for modifications to the securitization strategy
for the Management Board. In addition, the Securitization Committee offers a platform for exchanging information regarding
securitization positions and market developments.
The Group Operational Risk Management & Controls Committee comprises representatives of the business areas (retail,
market and corporate customers) and representatives from Compliance (including financial crime, regulatory compliance),
Internal Control System, Operations, Security, IT Risk Management and Risk Controlling, under chairmanship of the CRO. This
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 463
committee is responsible for managing the Group’s operational risk (including conduct risk). It derives and sets the operational
risk strategy based on the risk profile and the business strategy and makes decisions regarding measures, controls and risk
acceptance.
The Group Security Committee is responsible for the implementation of and compliance with the Security Policy and the IT
Risk Management Policy within the Group. This includes, inter alia, approving the Security Policy and the IT Risk Management
Policy, defining key performance indicators and key risk indicators, which must be reported on at Group level and in the local
security committees, and defining and checking the risk appetite in relation to IT risk and security.
The Data Governance Committee is the Group’s senior decision-making body for all subject areas relating to data
governance. This also includes in particular topics relating to data quality as well as to compliance with the BCBS 239 principles.
The Artificial Intelligence Committee is the cross-functional, senior steering committee for the Group regarding Artificial
Intelligence (AI) topics. These include strategic and regulatory oversight, performance monitoring, change management,
education & learning, transparent communication, stakeholder engagement, advisory of the Management Board and reporting,
as well as being the escalation authority for AI related topics.
The Contingency/Recovery/Resolution Committee is a decision-making body convened by the Management Board. The
composition of the committee varies as circumstances require depending on the intensity and focus of the specific
requirements pertaining to the situation (e.g. capital and/or liquidity). The core task of the committee is to maintain or recover
financial stability in accordance with BaSAG (Austrian Banking Recovery and Resolution Act) and BRRD (Banking Recovery and
Resolution Directive) in the event of a critical financial situation.
Quality assurance and internal audit
Quality assurance with respect to risk management refers to ensuring the integrity, soundness, and accuracy of processes,
models, calculations, and data sources. This is to ensure that the Group adheres to all legal requirements and that it can
achieve the highest standards in risk management-related operations. Two very important functions in assuring independent
oversight are performed by the divisions Audit and Compliance. Independent internal auditing is a legal requirement and a
central pillar of the internal control system. Internal Audit periodically assesses all business processes and contributes
considerably to securing and improving them. It sends its reports directly to the Management Board, which discusses them on
a regular basis in its board meetings. The Compliance Office is responsible for all issues concerning compliance with legal
requirements in addition to and as an integral part of the internal control system. Thereby compliance with existing
regulations in daily operations is monitored. The comprehensive risk management control function is one of the key
responsibilities of the Supervisory Board’s Risk Committee, which for this purpose uses the analyses and reports prepared by
Audit, Compliance, and Risk Controlling.
(40) Overall group risk management
Maintaining an adequate level of capital is a core objective of the Group. Capital requirements are monitored regularly based
on the risk level as measured by internal models, and in choosing appropriate models the materiality of risks annually assessed
is considered. This concept of overall bank risk management provides for meeting capital requirements from both a regulatory
perspective (normative perspective) and from an economic point of view (economic perspective). Thus, it covers the
quantitative aspects of the Internal Capital Adequacy Assessment Process (ICAAP) as legally required and as described in the
ICAAP Directive published by the European Central Bank. The full ICAAP process of the Group is audited during the supervisory
review process for RBI credit institution group (RBI-Kreditinstitutsgruppe) on an annual basis.
The Risk Appetite Framework (RAF) limits the Group’s overall risk in accordance with the Group’s strategic business objectives
and allocates the risk capital calculated to the different risk categories and business areas. The primary aim of the RAF is to
limit risk, particularly in adverse scenarios and for major singular risks in such a way as to guarantee compliance with regula-
tory minimum ratios. The Risk Appetite Framework is, therefore, closely linked with the ICAAP and the ILAAP (Internal Liquidity
Adequacy Assessment Process) and sets the concentration risk limits for the risk types identified as significant in the risk as-
sessment. There is also a connection to the recovery plan as the risk capacity and risk tolerance limits in the RAF are aligned
with the corresponding thresholds in the recovery plan. In addition, the risk appetite decided by the Management Board and
the Group’s risk strategy and its implementation are reported regularly to the Supervisory Board’s Risk Committee.

Approach | Risk | Measurement technique | Confidence level
Economic perspective |  |  |
Economic capital | Risk that unexpected losses from the economic point of view exceed the internal capital | The unexpected loss for the risk horizon of one year (economic capital) may not exceed the current value of the tier 1 capital. | 99.90 per cent
Normative perspective |  |  |
Stress scenarios | Risk of falling below a sustainable tier 1 ratio throughout an economic cycle | Capital and earnings projection for a three-year planning period based on assumptions of a significant downturn in the economy | Around 95 per cent

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
464 Consolidated financial statements
Economic perspective – economic capital approach
In this approach, risks are measured based on economic capital, which represents a comparable risk indicator across all
material risk types. Economic capital is calculated as the sum of unexpected losses stemming from different Group units and
different risk categories. In addition, a general buffer is held to cover risk types not explicitly quantified.
The Group uses a confidence level of 99.90 per cent to calculate economic capital. The economic capital increased to € 9,633
million (previous year: € 9,356 million). The main drivers were increases in credit risk for sovereigns and retail customers. This
increase was partly offset by a decline in credit risk for corporate customers. In the risk capital allocation as at 31 December
2025, the regional segments Southeastern Europe and Eastern Europe recorded increases compared to year-end 2024, while
the Austria segment decreased.
Risk contribution of individual risk types to economic capital:

in € million | 2025 | Share | 2024 | Share
Credit risk sovereigns | 1,892 | 19.6% | 1,703 | 18.2%
Credit risk retail customers | 1,672 | 17.4% | 1,430 | 15.3%
Credit risk corporate customers | 1,125 | 11.7% | 1,300 | 13.9%
FX risk capital position | 1,290 | 13.4% | 1,217 | 13.0%
Market risk | 1,122 | 11.6% | 1,104 | 11.8%
Operational risk | 809 | 8.4% | 826 | 8.8%
Participation risk | 823 | 8.5% | 785 | 8.4%
Other assets | 246 | 2.6% | 267 | 2.9%
Credit risk banks | 169 | 1.8% | 230 | 2.5%
Liquidity risk | 0 | 0.0% | 32 | 0.3%
CVA risk | 26 | 0.3% | 16 | 0.2%
Risk buffer | 459 | 4.8% | 446 | 4.8%
Total | 9,633 | 100.0% | 9,356 | 100.0%

Regional allocation of economic capital by Group unit domicile:

in € million | 2025 | Share | 2024 | Share
Austria | 2,167 | 22.5% | 2,381 | 25.4%
Central Europe | 2,387 | 24.8% | 2,328 | 24.9%
Southeastern Europe | 2,584 | 26.8% | 2,291 | 24.5%
Eastern Europe | 1,926 | 20.0% | 1,744 | 18.6%
Ukraine | 569 | 5.9% | 612 | 6.5%
Total | 9,633 | 100.0% | 9,356 | 100.0%

Economic capital is an important instrument in overall bank risk management. Economic capital limits are allocated to
individual business areas during the annual budgeting process and are supplemented in day-to-day management by volume,
sensitivity, and value-at-risk limits. The Group planning process is undertaken on a revolving basis for the coming three years
and incorporates future changes in economic capital as well as available internal capital. Economic capital thus substantially
influences plans for future lending activities and the overall limit for market risk.
Risk-adjusted performance measurement is also based on the indicator for economic capital. The profitability of a business
unit is examined in relation to the amount of economic capital attributed to the unit in question (risk-adjusted profit in relation
to risk-adjusted capital, RORAC), which yields a comparable performance indicator for all business units in the Group. That
indicator is used in turn as a key figure in overall bank management and for future capital allocation, and influences the
remuneration paid to the Group’s executive management.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 465
Normative perspective – stress scenarios
The analysis of the stress scenarios in the normative perspective of the ICAAP is intended to ensure that the Group has
sufficiently high capital ratios in a multi-year planning period, even in a severe macroeconomic downturn scenario. The analysis
is based on a multi-year macroeconomic stress test where hypothetical market developments in a severe but realistic
economic downturn scenario are simulated. The risk parameters used include interest rates, foreign exchange rates and
securities prices, as well as changes in default probabilities and rating migrations in the credit portfolio, as well as losses from
operational risks.
The integrated stress test focuses primarily on the capital ratios at the end of the multi-year observation period. These should
not fall below a sustainable level, meaning that they should not require the bank to substantially increase capital or to
significantly reduce its business activities. The current minimum amount of capital is therefore determined by the size of a
potential economic downturn. The stress scenarios assumed incorporates recognition of the necessary loan loss provisions and
potential pro-cyclical effects (which increase the minimum regulatory capital requirement) along with the impact of foreign
ex-change rate fluctuations and other valuation and earnings effects. Regulatory changes that are already known are
considered for the planning period.
This perspective thus also complements traditional risk measurement methods based on the value-at-risk concept (which is in
general based on historical data). Therefore, it can account for exceptional market situations that have not been observed in
the past, and permits estimation of the potential impact of such developments. The stress test also allows for analyzing risk
concentrations (e.g. individual positions, industries, or geographical regions) and gives insight into profitability, liquidity
situation, and solvency under extreme situations. Building on these analyses, risk management in the Group actively
contributes to portfolio diversification, for example via limits for the total credit exposure to individual industry segments and
countries and through ongoing updates to lending standards.
(41) Credit risk
Credit risk is the largest risk for the Group’s business. Credit risk means the risk of suffering financial loss should any of the
Group’s customers or counterparties fail to fulfil their contractual obligations to the Group. Credit risk arises mainly from loans
and advances to banks, loans and advances to customers, lending commitments and financial guarantees given. The Group is
also exposed to other credit risks arising from investments in debt securities and other exposures associated with trading
activities, derivatives, settlement agreements and reverse repo transactions.
Limit application process
In the non-retail area, each lending transaction runs through the limit application process before a decision is made. This
process covers – besides new lending – increases in existing limits, rollovers, overdrafts, and changes in the risk profile of a
borrower (e.g. with respect to the financial situation of the borrower, the agreed terms and conditions, or the collateral
furnished) compared to the time of the original lending decision. It is also used when setting counterparty limits for trading and
new issuance operations as well as other credit limits, and for equity investments subject to credit risk.
Credit decisions are made within the context of a competence authority hierarchy based on the size and type of the loan.
Approval from the business and the credit risk management divisions is always required when making individual limit decisions
or performing regular rating renewals. If the individual decision-making parties disagree, the potential transaction is decided
upon by the next higher-ranking credit authority.
The whole limit application process is based on defined uniform principles and rules. Account management for multinational
customers doing business with more than one RBI unit simultaneously is supported by the Global Account Management
System, for example. This is made possible by group-wide unique customer identification in the non-retail asset classes.
The limit application process in the retail division is automated to a great degree due to the high number of applications and
relatively low exposure amounts. Limit applications are often assessed and approved in central processing centers based on
credit score cards. This process is facilitated by the respective IT systems.
Credit portfolio management
Credit portfolio management in the Group is, among other aspects, based on the credit portfolio strategy which is in turn
based on the business and risk strategy. The strategy selected is used to limit the exposure amount in different countries,
industries or product types and thus prevents undesired risk concentrations. Additionally, the long-term potentials of different
markets are continuously analyzed. This allows for an early strategic repositioning of future lending activities.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
466 Consolidated financial statements
Reconciliation of figures from the IFRS consolidated financial statements to credit
exposure (according to CRR)
The following table shows the reconciliation of the gross carrying amounts of the items on the statement of financial position
to the credit exposure (banking and trading book positions), which is used in portfolio management. It includes both exposures
on and off the statement of financial position before the application of credit-conversion factors, and thus represents the
total credit exposure. It is not reduced by the effects of credit risk mitigation such as guarantees or physical collateral, effects
that are, however, considered in the total assessment of credit risk. The total credit exposure is also used – if not explicitly
stated otherwise – for referring to exposures in all subsequent tables in the risk report. The reasons for the differences in the
values used for internal portfolio management and for external financial accounting are the different scopes of consolidation
(regulatory versus accounting rules according to IFRS) and differences in the classification and presentation of exposure
volumes, especially in the case of repo transactions and derivatives, particularly SA-CCR (standardized approach for measuring
counterparty credit risk).

in € million | 2025 | 2024
Cash, balances at central banks and other demand deposits | 32,053 | 31,532
Financial assets - amortized cost | 157,739 | 150,512
Financial assets - fair value through other comprehensive income | 4,275 | 3,431
Non-trading financial assets - mandatorily fair value through profit/loss | 1,344 | 1,088
Financial assets - designated fair value through profit/loss | 208 | 304
Financial assets - held for trading | 6,707 | 5,492
Hedge accounting | 726 | 780
Current tax assets | 124 | 130
Deferred tax assets | 167 | 216
Other assets | 1,176 | 1,435
Loan commitments given | 42,664 | 37,635
Financial guarantees given | 10,034 | 9,243
Other commitments given | 5,609 | 5,567
Reconciliation difference | (7,406) | (6,450)
Credit exposure | 255,421 | 240,914
Around € 2.9 billion of the reconciliation difference was attributable to the SA-CCR-Netting.

The detailed credit portfolio analysis shows the breakdown by rating category. Customer rating assessments are performed
separately for different asset classes using internal risk classification models (rating and scoring models), which are validated
by a central organizational unit. The default probabilities assigned to individual rating grades are calculated separately for
each asset class. However, the use of a master scale enables rating grades to be compared even across business segments.
Rating models in the non-retail asset classes – corporates, banks and sovereigns – are uniform in all Group units and rank
creditworthiness in 27 grades of the master scale. For retail asset classes, country specific scorecards are developed based on
uniform Group standards. Tools are used to produce and validate ratings (e.g. business valuation tools, rating and default
data-bases).
Credit exposure by asset classes (rating models):

in € million | 2025 | 2024
Corporate customers | 90,764 | 86,684
Project finance | 11,606 | 9,727
Retail customers | 54,639 | 48,730
Banks | 27,014 | 28,853
Sovereigns | 71,398 | 66,921
Total | 255,421 | 240,914

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 467
Credit portfolio – Corporate customers
The internal rating models for corporate customers take into account qualitative parameters, various ratios from the state-
ment of financial position, and profit ratios covering different aspects of customer creditworthiness for various industries and
countries. In addition, the model for smaller corporates also includes an account behavior component.
The following table shows the credit exposure according to internal corporate rating (large corporates, mid-market and small
corporates). For presentation purposes, the individual grades of the rating scale have been combined into nine main rating
grades.

in € million | Lower PD bound in % | Upper PD bound in % | 2025 | Share | 2024 | Share
1 | Minimal risk | > 0.0000 % | ≤ 0.0300 % | 2,609 | 2.9% | 1,920 | 2.2%
2 | Excellent credit standing | > 0.0300 % | ≤ 0.0751 % | 6,996 | 7.7% | 8,143 | 9.4%
3 | Very good credit standing | > 0.0751 % | ≤ 0.1878 % | 18,841 | 20.8% | 19,345 | 22.3%
4 | Good credit standing | > 0.1878 % | ≤ 0.4694 % | 23,835 | 26.3% | 22,781 | 26.3%
5 | Sound credit standing | > 0.4694 % | ≤ 1.1735 % | 18,862 | 20.8% | 16,290 | 18.8%
6 | Acceptable credit standing | > 1.1735 % | ≤ 2.9338 % | 12,449 | 13.7% | 10,736 | 12.4%
7 | Marginal credit standing | > 2.9338 % | ≤ 7.3344 % | 3,359 | 3.7% | 2,846 | 3.3%
8 | Weak credit standing/sub-standard | > 7.3344 % | ≤ 18.3360 % | 1,355 | 1.5% | 1,269 | 1.5%
9 | Very weak credit standing/doubtful | > 18.3360 % | < 100 % | 1,060 | 1.2% | 1,092 | 1.3%
10 | Default | 100 % | 100 % | 1,328 | 1.5% | 2,208 | 2.5%
NR | Not rated |  |  | 70 | 0.1% | 53 | 0.1%
Total |  |  | 90,764 | 100.0% | 86,684 | 100.0%

The credit exposure to corporate customers increased € 4,080 million to € 90,764 million compared to year-end 2024. The
largest increases were recorded in Romania (€ 1,183 million), Hungary (€ 685 million), the Czech Republic (€ 657 million) and in
Ukraine (€ 488 million) mainly in rating grades 4, 5 and 6, which were partly offset by decreases in the United Arab Emirates
(€ 404 million) and Luxembourg (€ 350 million) mainly in rating grades 2, 3 and 5.
The rise in rating grade 5 resulted also from rating downgrades of individual Czech customers from rating grade 4. The
increase in rating grade 4 was also due to rating downgrades of individual Austrian and British customers from rating grade 3.
In rating grade 2 the decrease resulted mainly from rating downgrades of individual Austrian and Czech customers to rating
grade 3, and from rating upgrades of individual Austrian and Luxembourg customers to rating grade 1.
The five grades rating model for project finance is based on the slotting criteria in accordance with EBA/RTS/2016/02.

in € million | 2025 | Share | 2024 | Share
6.1 | Excellent project risk profile – very low risk | 6,498 | 56.0% | 6,068 | 62.4%
6.2 | Good project risk profile – low risk | 4,063 | 35.0% | 2,746 | 28.2%
6.3 | Acceptable project risk profile – average risk | 223 | 1.9% | 440 | 4.5%
6.4 | Poor project risk profile – high risk | 89 | 0.8% | 63 | 0.6%
6.5 | Default | 733 | 6.3% | 409 | 4.2%
NR | Not rated | 0 | 0.0% | 0 | 0.0%
Total | 11,606 | 100.0% | 9,727 | 100.0%

The € 1,880 million increase in project finance was mainly attributable to increases in Slovakia, the Czech Republic, Romania
and Bulgaria for energy supply and real estate projects. The increase in Germany was mainly due to a reclassification of three
existing defaulted customers (€ 328 million) from corporate customers to project finance, coordinated with the regulator. In
Romania, the rating downgrade of the country resulted in a rating downgrade in the project finance sector from rating grade
6.1 to rating grade 6.2.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
468 Consolidated financial statements
Breakdown by country of risk of the credit exposure to corporate customers and project finance structured by region, taking
into account the guarantor:

in € million | 2025 | Share | 2024 | Share
Central Europe | 29,655 | 29.0% | 27,176 | 28.2%
Western Europe | 25,101 | 24.5% | 24,011 | 24.9%
Austria | 18,994 | 18.6% | 19,202 | 19.9%
Southeastern Europe | 18,368 | 17.9% | 16,119 | 16.7%
Eastern Europe | 3,257 | 3.2% | 3,540 | 3.7%
Ukraine | 2,625 | 2.6% | 2,143 | 2.2%
Asia | 2,025 | 2.0% | 2,224 | 2.3%
Other | 2,346 | 2.3% | 1,995 | 2.1%
Total | 102,370 | 100.0% | 96,410 | 100.0%

The increase in Central Europe was due to higher loans and advances, and bonds in the Czech Republic, Hungary and Slovakia.
The increase in Southeastern Europe resulted mainly from the rise in loans and advances in Romania, Serbia and Croatia. In
Western Europe the increase was due to higher loans and advances in Germany and Switzerland. The decline in Austria
resulted mainly from the decrease in loans and advances, and foreign exchange transactions.
Credit exposure to corporates and project finance by industry of the original customer:

in € million | 2025 | Share | 2024 | Share
Manufacturing | 24,998 | 24.4% | 23,422 | 24.3%
Wholesale and retail trade | 20,674 | 20.2% | 19,917 | 20.7%
Real estate | 12,740 | 12.4% | 12,380 | 12.8%
Financial intermediation | 9,341 | 9.1% | 8,584 | 8.9%
Construction | 7,502 | 7.3% | 6,551 | 6.8%
Electricity, gas, steam and hot water supply | 7,366 | 7.2% | 6,729 | 7.0%
Transport, storage and communication | 4,606 | 4.5% | 4,160 | 4.3%
Freelance/technical services | 2,797 | 2.7% | 2,879 | 3.0%
Other industries | 12,345 | 12.1% | 11,788 | 12.2%
Total | 102,370 | 100.0% | 96,410 | 100.0%

Credit portfolio – Retail customers
Retail customers are subdivided into private individuals and small and medium-sized entities (SMEs). For retail customers a
two-fold scoring system is used, consisting of the initial and ad-hoc scoring based on customer data and of the behavioral
scoring based on account data.

in € million | 2025 | Share | 2024 | Share
Retail customers – private individuals | 50,942 | 93.2% | 45,422 | 93.2%
Retail customers – small and medium-sized entities | 3,697 | 6.8% | 3,308 | 6.8%
Total | 54,639 | 100.0% | 48,730 | 100.0%

Credit exposure to retail customers by internal rating:

in € million | Lower PD bound in % | Upper PD bound in % | 2025 | Share | 2024 | Share
0.5 | Minimal risk | > 0.00 % | ≤ 0.17 % | 6,098 | 11.2% | 8,747 | 18.0%
1.0 | Excellent credit standing | > 0.17 % | ≤ 0.35 % | 11,014 | 20.2% | 8,052 | 16.5%
1.5 | Very good credit standing | > 0.35 % | ≤ 0.69 % | 10,860 | 19.9% | 8,335 | 17.1%
2.0 | Good credit standing | > 0.69 % | ≤ 1.37 % | 9,823 | 18.0% | 7,429 | 15.2%
2.5 | Sound credit standing | > 1.37 % | ≤ 2.70 % | 6,678 | 12.2% | 4,941 | 10.1%
3.0 | Acceptable credit standing | > 2.70 % | ≤ 5.26 % | 3,419 | 6.3% | 2,883 | 5.9%
3.5 | Marginal credit standing | > 5.26 % | ≤ 10.00 % | 1,678 | 3.1% | 1,358 | 2.8%
4.0 | Weak credit standing/sub-standard | > 10.00 % | ≤ 18.18 % | 986 | 1.8% | 691 | 1.4%
4.5 | Very weak credit standing/doubtful | > 18.18 % | < 100 % | 963 | 1.8% | 825 | 1.7%
5.0 | Default | 100 % | 100 % | 1,184 | 2.2% | 1,180 | 2.4%
NR | Not rated |  |  | 1,936 | 3.5% | 4,288 | 8.8%
Total |  |  | 54,639 | 100.0% | 48,730 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 469
Due to the rating model update from Point in Time (PIT) to Through the Cycle (TTC) for mortgage loans in the Czech Republic in
May 2025, there was a shift of the affected portfolio from rating grade 0.5 to lower rating grades. The not rated credit
exposure includes, among others, credit card transactions in Austria, leasing companies and retail customers in Croatia and
Kosovo. These customers either do not have an internal rating, or are part of portfolios under permanent partial use or
portfolios for which PD model are in implementation process. In case of leasing units, creditworthiness is assessed based on
scorecard models. The decline in not rated customers was mainly due to the fact that most of the credit card business in
Austria and the portfolio acquired in Serbia received a rating in the first quarter of 2025.
Credit exposure to retail customers by segments:

2025 |  |  |  |  | Group Corporates & Markets
in € million | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
Retail customers – private individuals | 25,338 | 11,935 | 2,614 | 414 | 10,641
Retail customers – small and medium-sized entities | 2,177 | 1,349 | 4 | 103 | 64
Total | 27,515 | 13,283 | 2,618 | 517 | 10,706
hereof non-performing exposure | 540 | 387 | 145 | 19 | 106

2024 |  |  |  |  | Group Corporates & Markets
in € million | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
Retail customers – private individuals | 22,107 | 10,837 | 2,696 | 394 | 9,388
Retail customers – small and medium-sized entities | 1,944 | 1,257 | 5 | 102 | 1
Total | 24,051 | 12,093 | 2,701 | 497 | 9,389
hereof non-performing exposure | 541 | 413 | 127 | 30 | 70

Credit exposure to retail customers increased by € 5,909 million compared to year-end 2024. The largest increase of € 3,464
million in Central Europe resulted from higher consumer and mortgage loans, and facility financing in the Czech Republic and
Slovakia. The increase in Southeastern Europe of € 1,190 million resulted from increased consumer and mortgage loans in
Croatia, Serbia and Romania. The segment Group Corporates & Markets recorded a rise of € 1,317 million, mainly due to
increase in credit card business in the head office. In Russia, the retail customer portfolio was further reduced, which was partly
offset by the appreciation of the Russian ruble (plus 22 per cent).
Retail credit exposure by products:

in € million | 2025 | Share | 2024 | Share
Mortgage loans | 30,721 | 56.2% | 27,774 | 57.0%
Personal loans | 12,029 | 22.0% | 11,040 | 22.7%
Credit cards | 6,794 | 12.4% | 5,386 | 11.1%
SME financing | 3,084 | 5.6% | 2,456 | 5.0%
Overdraft | 1,442 | 2.6% | 1,322 | 2.7%
Car loans | 569 | 1.0% | 753 | 1.5%
Total | 54,639 | 100.0% | 48,730 | 100.0%

2025 |  |  |  |  | Group Corporates & Markets
in € million | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
Mortgage loans | 17,866 | 4,149 | 1,173 | 45 | 7,488
Personal loans | 5,247 | 5,814 | 481 | 102 | 384
Credit cards | 2,056 | 1,554 | 807 | 257 | 2,120
SME financing | 1,479 | 1,101 | 69 | 80 | 355
Overdraft | 622 | 341 | 88 | 33 | 359
Car loans | 243 | 325 | 0 | 0 | 0
Total | 27,515 | 13,283 | 2,618 | 517 | 10,706

2024 |  |  |  |  | Group Corporates & Markets
in € million | Central Europe | Southeastern Europe | Eastern Europe | Ukraine
Mortgage loans | 15,932 | 3,599 | 1,041 | 41 | 7,161
Personal loans | 4,449 | 5,291 | 691 | 84 | 524
Credit cards | 1,625 | 1,541 | 788 | 258 | 1,174
SME financing | 1,039 | 1,010 | 71 | 75 | 260
Overdraft | 542 | 362 | 110 | 39 | 269
Car loans | 462 | 290 | 1 | 0 | 0
Total | 24,051 | 12,093 | 2,701 | 497 | 9,389

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
470 Consolidated financial statements
Credit portfolio – Banks
The following table shows the credit exposure by internal rating for banks (excluding central banks). Due to the small number
of customers (or observable defaults), the default probabilities of individual rating grades in this asset class are calculated
based on a combination of internal and external data. The shifts within the individual rating categories partly resulted from
the regular recalibration of the rating models for credit institutions.

in € million | Lower PD bound in % | Upper PD bound in % | 2025 | Share | 2024 | Share
1 | Minimal risk | > 0.0000 % | ≤ 0.0300 % | 5,420 | 20.1% | 4,455 | 15.4%
2 | Excellent credit standing | > 0.0300 % | ≤ 0.0751 % | 3,570 | 13.2% | 3,562 | 12.3%
3 | Very good credit standing | > 0.0751 % | ≤ 0.1878 % | 13,057 | 48.3% | 17,181 | 59.5%
4 | Good credit standing | > 0.1878 % | ≤ 0.4694 % | 4,175 | 15.5% | 2,852 | 9.9%
5 | Sound credit standing | > 0.4694 % | ≤ 1.1735 % | 341 | 1.3% | 237 | 0.8%
6 | Acceptable credit standing | > 1.1735 % | ≤ 2.9338 % | 130 | 0.5% | 57 | 0.2%
7 | Marginal credit standing | > 2.9338 % | ≤ 7.3344 % | 124 | 0.5% | 62 | 0.2%
8 | Weak credit standing/sub-standard | > 7.3344 % | ≤ 18.3360 % | 102 | 0.4% | 244 | 0.8%
9 | Very weak credit standing/doubtful | > 18.3360 % | < 100 % | 85 | 0.3% | 201 | 0.7%
10 | Default | 100 % | 100 % | 1 | 0.0% | 1 | 0.0%
NR | Not rated |  |  | 11 | 0.0% | 2 | 0.0%
Total |  |  | 27,014 | 100.0% | 28,853 | 100.0%

Credit exposure to banks decreased primarily due to declined repo transactions (€ 3,147 million), mainly in France in rating
grade 3, which was partly offset by increases in Germany. In contrast, there were increases in loans and advances (€ 641
million) in Austria, Germany and the US as well as with international institutions, which were partly offset by decreases in
Russia. Furthermore, bonds increased (€ 424 million), mainly among international institutions in rating grade 1.
Credit exposure to banks (excluding central banks) by regions:

in € million | 2025 | Share | 2024 | Share
Western Europe | 12,933 | 47.9% | 15,709 | 54.4%
Austria | 4,203 | 15.6% | 4,365 | 15.1%
Asia | 2,779 | 10.3% | 1,832 | 6.4%
Central Europe | 1,096 | 4.1% | 1,066 | 3.7%
Southeastern Europe | 585 | 2.2% | 510 | 1.8%
Eastern Europe | 314 | 1.2% | 583 | 2.0%
Ukraine | 10 | 0.0% | 5 | 0.0%
Other | 5,093 | 18.9% | 4,783 | 16.6%
Total | 27,014 | 100.0% | 28,853 | 100.0%

Credit exposure to banks (excluding central banks) by products:

in € million | 2025 | Share | 2024 | Share
Repo | 8,603 | 31.8% | 11,750 | 40.7%
Loans and advances | 8,261 | 30.6% | 7,568 | 26.2%
Bonds | 6,359 | 23.5% | 5,935 | 20.6%
Money market | 2,579 | 9.5% | 2,623 | 9.1%
Derivatives | 618 | 2.3% | 534 | 1.9%
Other | 593 | 2.2% | 444 | 1.5%
Total | 27,014 | 100.0% | 28,853 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 471
Credit portfolio – Sovereigns
Another asset class is formed by central governments, central banks, and regional municipalities as well as other public sector
entities. The credit exposure to sovereigns includes local and regional governments.
Credit exposure to sovereigns (including central banks) by internal rating:

in € million | Lower PD bound in % | Upper PD bound in % | 2025 | Share | 2024 | Share
1 | Minimal risk | > 0.0000 % | ≤ 0.0300 % | 12,405 | 17.4% | 11,238 | 16.8%
2 | Excellent credit standing | > 0.0300 % | ≤ 0.0751 % | 22,699 | 31.8% | 22,720 | 34.0%
3 | Very good credit standing | > 0.0751 % | ≤ 0.1878 % | 12,992 | 18.2% | 12,635 | 18.9%
4 | Good credit standing | > 0.1878 % | ≤ 0.4694 % | 9,706 | 13.6% | 8,637 | 12.9%
5 | Sound credit standing | > 0.4694 % | ≤ 1.1735 % | 2,785 | 3.9% | 2,843 | 4.2%
6 | Acceptable credit standing | > 1.1735 % | ≤ 2.9338 % | 620 | 0.9% | 7,353 | 11.0%
7 | Marginal credit standing | > 2.9338 % | ≤ 7.3344 % | 8,741 | 12.2% | 5 | 0.0%
8 | Weak credit standing/sub-standard | > 7.3344 % | ≤ 18.3360 % | 0 | 0.0% | 0 | 0.0%
9 | Very weak credit standing/doubtful | > 18.3360 % | < 100 % | 1,442 | 2.0% | 1,477 | 2.2%
10 | Default | 100 % | 100 % | 8 | 0.0% | 9 | 0.0%
NR | Not rated |  |  | 0 | 0.0% | 4 | 0.0%
Total |  |  | 71,398 | 100.0% | 66,921 | 100.0%

Credit exposure to sovereigns increased mainly due to increased bond portfolios (€ 8,268 million) in Austria, Central and
Southeastern Europe, and Western Europe. The increase in loans and advances to sovereigns was primarily due to increased
deposits at the Austrian, Czech and Slovak national banks. Money market transactions declined by € 6,391 million, mainly in
Austria and Romania partly due to bond purchases, and were partly offset by a currency-related increase in Russia.
The increase in rating grade 7 was due to the rating downgrade of Russia from rating grade 6. The rise in rating grade 1
resulted from higher repo transactions and loans and advances in the Czech Republic, and bonds in Germany and the
Netherlands. The increase in rating grade 4 was due to a higher bond portfolio in Hungary, Bulgaria and Italy.
Credit exposure to sovereigns (including central banks) by product:

in € million | 2025 | Share | 2024 | Share
Bonds | 37,480 | 52.5% | 29,212 | 43.7%
Loans and advances | 15,656 | 21.9% | 13,117 | 19.6%
Money market | 10,116 | 14.2% | 16,507 | 24.7%
Repo | 8,039 | 11.3% | 7,832 | 11.7%
Derivatives | 59 | 0.1% | 80 | 0.1%
Other | 48 | 0.1% | 173 | 0.3%
Total | 71,398 | 100.0% | 66,921 | 100.0%

Non-investment grade credit exposure to sovereigns (rating grade 5 and below):

in € million | 2025 | Share | 2024 | Share
Russia | 8,797 | 64.7% | 6,855 | 58.6%
Serbia | 1,808 | 13.3% | 2,098 | 17.9%
Ukraine | 1,343 | 9.9% | 1,355 | 11.6%
Bosnia and Herzegovina | 610 | 4.5% | 608 | 5.2%
Albania | 553 | 4.1% | 494 | 4.2%
Other | 484 | 3.6% | 282 | 2.4%
Total | 13,596 | 100.0% | 11,691 | 100.0%

The exposure mainly includes deposits of Group units at local central banks in Central, Eastern, and Southeastern Europe,
which serve to fulfil the respective minimum reserve requirements and act as a vehicle for short-term investment of excess
liquidity and are therefore inextricably linked with business activity in these countries, and Russian and Ukrainian government
bonds. The increase in Russia resulted from the appreciation of the Russian ruble.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
472 Consolidated financial statements
Country risk
Country risk includes transfer and convertibility risk, as well
as political risk and macroeconomic risk in a broader
sense. For RBI, it arises from cross-border transactions and
operations in foreign countries via its subsidiaries.
Activities in core markets are given particular attention in
this respect. Active country risk management is ensured
across the Group based on the country risk guidelines
regularly approved by the Management Board. This policy
is part of the credit portfolio limit system and sets a strict
limitation on cross-border risk exposure to individual
countries in order to avoid risk concentrations. At the same
time, the policy is designed to incentivize risk-taking within
the RBI’s core markets. The limit levels for individual
countries are established using an internal model based on
pillars such as the Group’s own capitalization, the internal
sovereign rating and respectively the internal country risk
score, and the size and dynamics of the country and its
banking sector. Over the past years geopolitical risks have gained in importance and attention within RBI’s internal steering
framework.
Country risk is also reflected in product pricing and in risk-adjusted performance measurement via the internal funds transfer
pricing system. In this way, RBI provides the business units with an incentive to mitigate country risk (e.g. by taking out
insurance with export credit insurance organizations or seeking guarantors in third countries). The insights gained from the
country risk analysis are not only used for limiting the total cross-border exposure, but also for managing the total credit
exposure in each individual country (i.e. including the exposure funded by local deposits). RBI thus gears its business activities to
the expected macroeconomic trends within the different markets, which promotes broad diversification of its credit portfolio.
Concentration risk
The credit portfolio of the Group is well diversified in terms of geographical region and industry. Single name concentrations
are also actively managed (based on the concept of groups of connected customers) by way of limits and regular reporting to
ensure that portfolio granularity is high. The regional breakdown of the exposures reflects the broad diversification of credit
business in the Group’s European markets.
Credit exposures across all asset classes by the borrower’s country of risk, grouped by regions:

in € million | 2025 | Share | 2024 | Share
Central Europe | 83,300 | 32.6% | 76,079 | 31.6%
Czech Republic | 40,935 | 16.0% | 36,519 | 15.2%
Slovakia | 25,568 | 10.0% | 23,764 | 9.9%
Hungary | 13,083 | 5.1% | 12,004 | 5.0%
Poland | 2,596 | 1.0% | 2,881 | 1.2%
Slovenia | 594 | 0.2% | 415 | 0.2%
Other | 525 | 0.2% | 497 | 0.2%
Austria | 46,453 | 18.2% | 47,517 | 19.7%
Western Europe | 45,879 | 18.0% | 44,943 | 18.7%
Germany | 15,044 | 5.9% | 12,999 | 5.4%
France | 6,230 | 2.4% | 9,224 | 3.8%
Switzerland | 3,861 | 1.5% | 3,299 | 1.4%
Great Britain | 3,742 | 1.5% | 3,626 | 1.5%
Netherlands | 2,988 | 1.2% | 2,622 | 1.1%
Spain | 2,451 | 1.0% | 2,072 | 0.9%
Belgium | 2,051 | 0.8% | 1,595 | 0.7%
Italy | 2,007 | 0.8% | 2,638 | 1.1%
Luxembourg | 1,938 | 0.8% | 2,381 | 1.0%
Ireland | 1,065 | 0.4% | 725 | 0.3%
Other | 4,502 | 1.8% | 3,762 | 1.6%
Southeastern Europe | 46,364 | 18.2% | 42,303 | 17.6%
Romania | 22,206 | 8.7% | 20,462 | 8.5%
Croatia | 8,907 | 3.5% | 7,934 | 3.3%
Serbia | 7,477 | 2.9% | 7,173 | 3.0%
Bosnia and Herzegovina | 2,879 | 1.1% | 2,753 | 1.1%
Albania | 2,406 | 0.9% | 2,142 | 0.9%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 473

in € million | 2025 | Share | 2024 | Share
Bulgaria | 942 | 0.4% | 491 | 0.2%
Other | 1,547 | 0.6% | 1,348 | 0.6%
Eastern Europe | 15,102 | 5.9% | 13,766 | 5.7%
Russia | 14,820 | 5.8% | 13,379 | 5.6%
Other | 282 | 0.1% | 387 | 0.2%
Ukraine | 4,655 | 1.8% | 4,127 | 1.7%
Asia | 5,072 | 2.0% | 4,297 | 1.8%
North America | 4,946 | 1.9% | 4,584 | 1.9%
Rest of World | 3,648 | 1.4% | 3,298 | 1.4%
Total | 255,421 | 100.0% | 240,914 | 100.0%

The largest increase was recorded in Central Europe and resulted mainly from increased loans and advances in the Czech
Republic, Hungary and Slovakia, from mortgage loans in the Czech Republic and Slovakia, and bonds in Hungary, the Czech
Republic and Slovakia. In South Eastern Europe the increase was due to a higher bond portfolio and increased loans and
advances in Romania, Croatia, Bulgaria, Serbia and Albania, which was partly offset by a decrease of money market
transactions in Romania. In Eastern Europe, the increase in Russia was due to the appreciation of the Russian ruble. The
decrease in Austria resulted from declined money market transactions, which was partly offset by higher bond portfolios and
loans and advances.
Credit exposure across all asset classes by currencies:

in € million | 2025 | Share | 2024 | Share
Euro (EUR) | 146,645 | 57.4% | 137,756 | 57.2%
Czech koruna (CZK) | 36,126 | 14.1% | 31,462 | 13.1%
Romanian leu (RON) | 15,900 | 6.2% | 14,498 | 6.0%
US dollar (USD) | 15,644 | 6.1% | 19,924 | 8.3%
Russian ruble (RUB) | 14,391 | 5.6% | 12,632 | 5.2%
Hungarian forint (HUF) | 9,583 | 3.8% | 8,710 | 3.6%
Serbian dinar (RSD) | 3,782 | 1.5% | 3,702 | 1.5%
Ukrainian hryvnia (UAH) | 3,759 | 1.5% | 3,355 | 1.4%
Bosnian marka (BAM) | 2,811 | 1.1% | 2,593 | 1.1%
Albanian lek (ALL) | 1,974 | 0.8% | 1,729 | 0.7%
Swiss franc (CHF) | 1,438 | 0.6% | 1,231 | 0.5%
Chinese yuan (CNY) | 1,089 | 0.4% | 1,044 | 0.4%
Great Britain Pound (GBP) | 773 | 0.3% | 761 | 0.3%
Polish zloty (PLN) | 733 | 0.3% | 732 | 0.3%
Other foreign currencies | 771 | 0.3% | 785 | 0.3%
Total | 255,421 | 100.0% | 240,914 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
474 Consolidated financial statements
The Group’s credit exposure based on industry classification:

in € million | 2025 | Share | 2024 | Share
Banking and insurance | 64,101 | 25.1% | 68,157 | 28.3%
Private households | 51,021 | 20.0% | 46,083 | 19.1%
Public administration and defense and social insurance institutions | 37,713 | 14.8% | 30,489 | 12.7%
Other manufacturing | 19,612 | 7.7% | 18,402 | 7.6%
Wholesale trade and commission trade (except car trading) | 15,305 | 6.0% | 14,714 | 6.1%
Real estate activities | 12,899 | 5.1% | 12,517 | 5.2%
Construction | 8,293 | 3.2% | 7,183 | 3.0%
Electricity, gas, steam and hot water supply | 7,496 | 2.9% | 6,827 | 2.8%
Retail trade and repair of consumer goods | 5,393 | 2.1% | 5,220 | 2.2%
Land transport, transport via pipelines | 3,380 | 1.3% | 2,851 | 1.2%
Land transport, transport via pipelines | 3,321 | 1.3% | 3,235 | 1.3%
Manufacture of food products and beverages | 3,114 | 1.2% | 2,798 | 1.2%
Manufacture of machinery and equipment | 2,204 | 0.9% | 2,038 | 0.8%
Other transport | 1,870 | 0.7% | 1,926 | 0.8%
Manufacture of basic metals | 1,591 | 0.6% | 1,796 | 0.7%
Sale of motor vehicles | 1,514 | 0.6% | 1,464 | 0.6%
Extraction of crude petroleum and natural gas | 655 | 0.3% | 645 | 0.3%
Other industries | 15,940 | 6.2% | 14,570 | 6.0%
Total | 255,421 | 100.0% | 240,914 | 100.0%

Structured credit portfolio
The Group invests in structured products. The total exposure to structured products showed a nominal amount of € 1.086
million (previous year: € 588 million) and a carrying amount of € 1.064 million (previous year: € 581 million). These are mainly
investments in Asset-Backed-Securities (ABS) to European customers. The year-on-year increase in nominals is attributable to
purchases due to new transactions.
Counterparty credit risk
The default of a counterparty in a derivative, repurchase, securities lending, or borrowing transaction can lead to losses from
re-establishing an equivalent contract. In the Group, this risk is measured by the mark-to-market approach where a predefined
add-on is added to the current positive fair value of the contract in order to account for potential future changes. For internal
management purposes potential price changes, which affect the fair value of an instrument, are calculated specifically for dif-
ferent contract types based on historical market price changes.
For derivative contracts the standard limit approval process applies, where the same risk classification, limitation, and
monitoring process is used as for traditional lending. In doing so, the weighted nominal exposure of derivative contracts is
added to the customers’ total exposure in the limit application and monitoring process as well as in the calculation and
allocation of internal capital.
An important strategy for reducing counterparty credit risk is utilization of credit risk mitigation techniques such as netting
agreements and collateralization. In general, the Group strives to establish standardized ISDA master agreements with all
major counterparties for derivative transactions in order to be able to perform close-out netting and credit support annexes
(CSA) for full risk coverage for positive fair values on a daily basis.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 475
Non-performing exposures (NPE)
RBI applies the default definition according to CRR and also the corresponding requirements of the EBA (EBA/GL/2016/07).
Non-performing exposures pursuant to the applicable CRR definition contained in the CRR, Implementing Technical Standard
(ITS) on Supervisory Reporting (Forbearance and non-performing exposures) issued by the EBA:

| NPE | NPE ratio | NPE coverage ratio
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
General governments | 144 | 163 | 3.7% | 4.3% | 4.0% | 4.2%
Banks | 1 | 1 | 0.0% | 0.0% | 99.6% | 97.6%
Other financial corporations | 129 | 333 | 1.3% | 3.2% | 28.0% | 41.0%
Non-financial corporations | 1,958 | 2,293 | 4.0% | 4.9% | 42.9% | 51.5%
Households | 1,056 | 1,048 | 2.3% | 2.6% | 61.2% | 62.3%
Loans and advances | 3,288 | 3,837 | 2.2% | 2.5% | 46.5% | 51.6%
Bonds | 9 | 8 | 0.0% | 0.0% | 58.3% | 54.3%
Total | 3,297 | 3,845 | 1.7% | 2.1% | 46.5% | 51.6%

Compared to year-end, the volume of non-performing exposures decreased € 548 million to € 3,294 million. In organic terms,
this was a decrease of € 550 million, mainly in Group Corporates & Markets with € 362 million. Derecognitions and sales
resulted in a decrease of € 1.044 million, repayments from Non Retail in an amount of € 395 million. This was contrasted with
higher new defaults of loans non-financial corporations mostly in Germany and Austria. The NPE ratio decreased 0.4
percentage points to 1.7 per cent compared to year-end 2024 mainly due to lower non-performing exposures, the coverage
ratio decreased 5.1 percentage points to 46.5 per cent.
Development of non-performing exposure by asset classes (excluding items off the statement of financial position):

in € million | As at 1/1/2025 | Change in consolidated group | Currency | Additions | Disposals | As at 31/12/2025
General governments | 163 | 0 | 0 | 0 | (18) | 144
Banks | 1 | 0 | 0 | 0 | 0 | 1
Other financial corporations | 333 | 0 | 0 | 83 | (287) | 129
Non-financial corporations | 2,293 | 0 | (15) | 914 | (1,233) | 1,958
Households | 1,048 | 0 | 17 | 447 | (456) | 1,056
Loans and advances (NPL) | 3,837 | 0 | 1 | 1,444 | (1,994) | 3,288
Bonds | 8 | 0 | 1 | 1 | (1) | 9
Total (NPE) | 3,845 | 0 | 2 | 1,445 | (1,995) | 3,297

in € million | As at 1/1/2024 | Change in consolidated group | Currency | Additions | Disposals | As at 31/12/2024
General governments | 178 | 0 | 0 | 0 | (15) | 163
Banks | 3 | 0 | 0 | 0 | (2) | 1
Other financial corporations | 392 | 0 | 0 | 75 | (134) | 333
Non-financial corporations | 1,843 | (21) | 2 | 902 | (434) | 2,293
Households | 1,075 | (6) | (13) | 448 | (456) | 1,048
Loans and advances (NPL) | 3,491 | (27) | (11) | 1,425 | (1,041) | 3,837
Bonds | 7 | 0 | 0 | 6 | (4) | 8
Total (NPE) | 3,498 | (27) | (11) | 1,431 | (1,045) | 3,845

Share of non-performing exposure (NPE) by segments (excluding items off the statement of financial position):

| NPE | NPE ratio | NPE coverage ratio
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Central Europe | 736 | 805 | 1.0% | 1.3% | 58.5% | 56.7%
Southeastern Europe | 613 | 620 | 1.6% | 1.7% | 65.4% | 66.2%
Eastern Europe | 219 | 257 | 1.2% | 1.6% | 78.8% | 69.0%
Ukraine | 144 | 205 | 3.1% | 4.4% | 82.3% | 82.5%
Group Corporates & Markets | 1,584 | 1,957 | 2.9% | 3.5% | 25.9% | 39.4%
Corporate Center | 0 | 0 | 0.0% | 0.0% | 100.0% | 99.9%
Total | 3,297 | 3,845 | 1.7% | 2.1% | 46.5% | 51.6%

The reduction of non-performing exposure was mainly based due to the Group Corporates & Markets segment which recorded
a decrease of € 372 million to € 1,584 million, mainly due to derecognitions and sales of non-performing loans in the amount of
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
476 Consolidated financial statements
€ 599 million and repayments from Non Retail clients in the amount of € 195 million. This was contrasted with higher new
defaults of loans non-financial corporations. The NPE ratio fell 0.6 percentage points to 2.9 per cent.
The non-performing loans in the Central Europe segment decreased by € 70 million due to a decline in Hungary and Poland, in
the Ukraine there was a reduction of € 61 million, strengthened by the devaluation of the Ukrainian hryvnia, the Eastern Europe
segment in Russia declined by € 38 million, reduced by the revaluation of the Russian ruble, the Southeastern Europe segment
slightly reduced by € 7 million.
Non-performing exposure with restructuring measures:

| Refinancing | Instruments with modified maturities and conditions | Total
in € million | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
General governments | 0 | 0 | 0 | 0 | 0 | 0
Banks | 0 | 0 | 0 | 0 | 0 | 0
Other financial corporations | 4 | 17 | 102 | 78 | 106 | 95
Non-financial corporations | 187 | 198 | 710 | 968 | 897 | 1,166
Households | 8 | 8 | 214 | 216 | 222 | 224
Total | 199 | 223 | 1,025 | 1,262 | 1,225 | 1,485

Non-performing exposure with restructuring measures by segments:

in € million | 2025 | Share | 2024 | Share
Central Europe | 195 | 15.9% | 237 | 16.0%
Southeastern Europe | 146 | 11.9% | 145 | 9.7%
Eastern Europe | 66 | 5.4% | 94 | 6.3%
Ukraine | 127 | 10.4% | 182 | 12.3%
Group Corporates & Markets | 691 | 56.4% | 827 | 55.7%
Total | 1,225 | 100.0% | 1,485 | 100.0%

(42) Market risk
The Group defines market risk as the risk of possible losses arising from changes in market prices of trading and investment
positions. Market risk estimates are based on changes in exchange rates, interest rates, credit spreads, equity and commodity
prices, and other market parameters (e.g. implied volatilities).
Market risks from the customer divisions are transferred to the Treasury division using the transfer price method. Treasury is
responsible for managing structural market risks and for complying with the Group’s overall limit. The Capital Markets division
is responsible for proprietary trading, market making, and customer business in money market and capital market products.
In the last years, an increased monitoring of market trends and position changes within RBI was necessary. The continuous
challenges required active risk management and daily monitoring with a focus on the Russian and Ukrainian markets and
portfolios, the dual steering approach (Group without Russian entities) for the Group since 2023, as well as the derivative
exposure reduction between head office and Russian entity in order to adapt to the changed environment.
Organization of market risk management
All market risks are measured, monitored, and managed on Group level. The Market Risk Committee is responsible for strategic
market risk management issues. It is responsible for managing and controlling all market risks in the Group. The Group’s overall
limit is set by the Management Board on the basis of the risk-taking capacity and income budget. This limit is apportioned to
sub-limits in coordination with business divisions according to the strategy, business model and risk appetite.
The Market Risk Management department ensures that the business volume and product range comply with the defined
strategy of the Group. It is responsible for implementing and enhancing risk management processes, risk management
infrastructure and systems, manuals, and measurement techniques for all market risk categories and credit risk arising from
market price changes in derivative transactions. Furthermore, Market Risk Management independently measures and reports
all market risks on a daily basis.
All products in which open positions can be held are listed in the product catalog. New products are added to this list only after
successfully completing the product approval process. Product applications are investigated thoroughly for any risks. They are
approved only if the new products can be implemented in RBI's front- and back-office and risk management systems.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 477
Limit system
The Group uses a comprehensive risk management approach for both the trading and the banking books (total-return
approach). Market risk is therefore managed consistently in all trading and banking books. The following indicators are
measured and limited on a daily basis in the market risk management system:
· Value-at-Risk (VaR) – confidence level 99 per cent
Value-at-Risk is the main market risk steering instrument in liquid markets and normal market situations. Two
different methods of calculation are used, depending on the steering approach. The consistency between P&L and
risk figures is in parallel necessary with the economic scope of RBI in order to ensure comprehensive control. For the
overall portfolio including the banking book, a model is used that is based on a historical simulation and which is
suitable for longer-term steering of the market risks from the banking books (ALL model, confidence level 99 per
cent, risk horizon 20 days). The calculation is based on overlapping 20-day returns of the last seven years and is also
used for allocating economic capital. For all market risks with a direct impact on the income statement, a model is
used that provides a good forecast of short-term volatility (IFRS P&L model, confidence level 99 per cent, risk horizon
1 day). The Austrian Financial Market Authority has approved this approach as an internal model for calculating the
total capital requirement for market risks for RBI AG’s trading book. Both models calculate value-at-risk indicators
for changes in the risk factors foreign currencies, interest rate trend, credit spreads, implicit volatility, stock indices
and basis spreads.
· Sensitivities (to changes in exchange rates and interest rates, gamma, vega, equity and commodity prices)
Sensitivity limits are to ensure that concentrations are avoided in normal market situations and are the main
steering instrument under extreme market situations and in illiquid markets or in markets that are structurally
difficult to measure.
· Stop loss
Stop loss limits serve to strengthen the discipline of traders such that they do not allow losses to accumulate on
their own proprietary positions but strictly limit them instead.
A comprehensive stress testing concept complements this multi-level limit system. It simulates potential present value
changes of defined scenarios for the total portfolio. The results on market risk concentrations shown by these stress tests are
reported to the Market Risk Committee and taken into account when setting limits. Stress test reports for individual portfolios
are included in daily market risk reporting.
Value-at-Risk (VaR)
The following tables show the risk indicators (VaR ALL 99 per cent, 20 days and VaR IFRS-P&L 99 per cent, 1 day) for the
individual market risk categories in the trading book, while the overall risk is shown for the banking book. The Group’s VaR
mainly results from structural equity positions, structural interest rate risk, and credit spread risks of bonds, which are held as
liquidity buffer. The IFRS-P&L model aims to measure short-term market fluctuations, while the ALL model focuses on
measuring structural interest rate risks.
The 2025 geopolitical and economic events impacted the markets, causing increased volatility throughout the year. Compared
to year-end 2024, the trading book P&L VaR (model IFRS-P&L) increased mainly in credit spread risk, followed by smaller
increases in currency and share price risk. The total VaR (model IFRS-P&L) decreased in currency risk, where main drivers were
the Russian ruble and the US dollar; however the credit spread VaR increased. The total VaR (model ALL) remained stable as
sensitivity risks fluctuated less than 5 per cent year-to-year.

Model IFRS-P&L trading book VaR (99%, 1d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € million | 2025 |  |  |  | 2024
Currency risk | 1 | 1 | 0 | 3 | 1
Interest rate risk | 2 | 2 | 2 | 8 | 2
Credit spread risk | 3 | 2 | 1 | 3 | 1
Share price risk | 1 | 1 | 1 | 2 | 1
Total | 3 | 3 | 2 | 8 | 3

Model IFRS-P&L total VaR (99%, 1d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € million | 2025 |  |  |  | 2024
Currency risk | 3 | 3 | 2 | 4 | 9
Interest rate risk | 2 | 2 | 2 | 3 | 2
Credit spread risk | 3 | 3 | 2 | 3 | 2
Share price risk | 1 | 1 | 1 | 1 | 1
Total | 6 | 6 | 5 | 7 | 10

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
478 Consolidated financial statements

Model ALL total VaR (99%, 20d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € million | 2025 |  |  |  | 2024
Economic capital ALL | 549 | 549 | 481 | 598 | 581
Total ALL (Risk categories) |  |  |  |  |
Currency risk | 538 | 543 | 462 | 604 | 589
Interest rate risk | 260 | 279 | 256 | 306 | 230
Credit spread risk | 61 | 68 | 60 | 75 | 41
Banking book (99%, 20d) |  |  |  |  |
Interest rate risk in the banking book | 250 | 268 | 250 | 295 | 249

The risk measurement approaches employed are verified – besides analyzing returns qualitatively – on an ongoing basis
through back-testing and statistical validation techniques. If model weaknesses are identified, then they are adapted
accordingly.
In the 2025 reporting year, there was a hypothetical back-testing violation due to increased market volatility and sharp
movement in rates. The following graph compares the VaR to the theoretical gains and losses on a daily basis. The VaR
represents the maximum loss which will not be exceeded within one day, with a confidence level of 99 per cent. It is compared
to the respective theoretical gain or loss which would arise on the following day due to the actual market conditions at the
time.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 479
Exchange rate risk and capital (ratio) hedge
Market risk in the Group results primarily from exchange rate risk, which stems from foreign-currency denominated equity in-
vestments in foreign Group units and the corresponding hedging positions entered into by the Group Asset/Liability
Committee. In a narrow sense, exchange rate risk denotes the risk of losses being incurred due to open foreign exchange
positions. However, exchange rate fluctuations also influence current revenues and expenses. They also affect regulatory
capital requirements for assets denominated in foreign currencies, even if they are financed in the same currency and thus do
not create an open foreign exchange position.
The Group holds material equity participations located outside of the euro area with equity denominated in the corresponding
local currency. Also, a significant share of risk-weighted assets in the Group is denominated in foreign currencies. Changes in
foreign exchange rates thus lead to changes in the consolidated capital of the Group and to changes in the total capital
requirement for credit risk as well.
From a regulatory perspective, the ECB approved a waiver for the Group which permits a reduction in the RWA’s associated
with market risk. This requires that the Group follow a specific hedging strategy that allows the exchange rate risks to be
protected against potential shocks.
In order to manage exchange rate risk, RBI currently follows a stable capital ratio strategy. The goal of this hedging strategy is
to balance tier 1 capital and risk-weighted assets in all currencies according to the targeted tier 1 ratio (i.e. reduce excess capi-
tal or deficits in relation to risk-weighted assets for each currency) such that the tier 1 ratio remains stable even if foreign ex-
change rates change. The Group aims at stabilizing its capital ratio when managing exchange rate risks. Changes in foreign
exchange rates thus lead to changes in the consolidated equity amount; however, the regulatory capital requirement for credit
risks stemming from assets denominated in foreign currencies also changes correspondingly. This risk is managed on a
monthly basis in the Group Asset/Liability Committee based on historical foreign exchange volatilities, exchange rate
forecasts, and the sensitivity of the tier 1 ratio to changes in individual foreign exchange rates.
The following table shows all material open foreign exchange rate positions as of 31 December 2025 and the corresponding
values for the previous year. The figures include both trading positions as well as capital positions of the subsidiaries with
foreign currency denominated statements of financial position (short positions are shown with a negative sign and long
positions with a positive sign).
The sensitivity in Czech Koruna, Hungarian Forint and Romanian Leu increased due to a change in the position for hedging
purposes.

in € million | 2025 | 2024
ALL | 103 | 99
BAM | 435 | 344
BGN | 48 | 51
BYN | 1 | 0
CNY | (7) | (5)
CHF | (392) | (381)
CZK | 493 | (31)
HUF | 275 | 8
PLN | (3) | (10)
RON | 610 | 333
RSD | 623 | 652
RUB | 2,094 | 2,360
UAH | (106) | (144)
USD | (642) | (492)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
480 Consolidated financial statements
Interest rate risk in the trading book
The largest present value changes for the trading book of the Group given a one-basis-point interest rate increase for the
whole yield curve in € thousand. The trading book sensitivities presented are calculated as the total position of each node
without considering the banking book positions.

2025 in € thousand | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
ALL | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0
CHF | 1 | 2 | 0 | 1 | 0 | 0 | 0 | (1) | 0 | (1) | 0 | 0
CNY | (3) | 0 | 0 | (3) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | 21 | 6 | (7) | 0 | 6 | 7 | (3) | 14 | (7) | 2 | 1 | 2
EUR | 444 | (32) | 1 | 21 | (21) | 13 | (47) | 205 | (4) | 281 | 0 | 25
HUF | 6 | (1) | (5) | 6 | 2 | (5) | (1) | 5 | (5) | 9 | 1 | 1
NOK | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
PLN | 1 | 3 | 2 | 7 | (13) | 4 | (5) | 5 | (2) | 0 | 0 | 0
RON | 25 | (1) | 3 | 8 | 9 | 4 | 0 | 7 | (7) | 2 | 0 | 0
RUB | 2 | 4 | 0 | (7) | 0 | 1 | 0 | 1 | 2 | 0 | 0 | 0
UAH | 21 | 0 | 0 | 2 | 11 | 7 | 0 | 0 | 0 | 0 | 0 | 0
USD | 37 | (1) | 6 | 12 | 7 | 1 | 1 | 17 | 2 | (11) | 7 | (5)
Other | 31 | (4) | 3 | (2) | 50 | 7 | (7) | (13) | (3) | 0 | 0 | 0

The presentation of currencies changed year-on-year depending on the absolute amount of interest rate sensitivity.

2024 in € thousand | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
ALL | 23 | 0 | 0 | 0 | 4 | 0 | 18 | (1) | 1 | 0 | 0 | 0
CHF | (8) | 2 | (4) | (1) | 0 | 0 | 0 | (5) | 0 | (1) | 0 | (1)
CNY | (4) | 0 | 0 | (4) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (129) | (3) | 3 | (13) | 2 | (3) | 4 | 47 | (88) | (83) | 1 | 4
EUR | 272 | (11) | (6) | 4 | 24 | (12) | (12) | 38 | 55 | 138 | 47 | 7
HUF | (73) | (3) | (2) | (4) | (6) | (10) | (2) | (19) | (33) | 5 | 1 | 0
NOK | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
PLN | 10 | 2 | 6 | 2 | (2) | 0 | 5 | (4) | 0 | 0 | 0 | 0
RON | 29 | 0 | 2 | (4) | 5 | (35) | 3 | (1) | 57 | 1 | 0 | 0
RUB | 3 | 5 | 2 | 1 | (5) | 0 | 1 | 0 | 0 | 0 | 0 | 0
UAH | 20 | 7 | 1 | 2 | 8 | 3 | 0 | (1) | 0 | 0 | 0 | 0
USD | 57 | 15 | (11) | 18 | 10 | 19 | 8 | 0 | (1) | 3 | 2 | (6)
Other | 76 | 7 | 0 | (4) | (8) | (27) | 47 | 15 | 45 | 0 | 0 | 0

Interest rate risk in the banking book
Different maturities and repricing schedules of assets and the corresponding liabilities (i.e. deposits and financing from money
markets and capital markets) cause interest rate risk in the Group. This risk arises in particular from incomplete compensation
of the interest rate sensitivity of expected cash flows, their interest rate adjustment cycles, and other optional features.
Interest rate risk in the banking book is material for the euro and US dollar as major currencies as well as for local currencies of
Group units located in Central and Eastern Europe.
This risk is mainly hedged by a combination of transactions on and off the statement of financial position where in particular
interest rate swaps and – to a smaller extent – also interest rate forwards and interest rate options are used. Management of
the statement of financial position is a core task of the central Global Treasury division and of individual subsidiary banks,
which are supported by the Group Asset/Liability Committee. They base their decisions on various interest income analyses
and simulations that ensure proper interest rate sensitivity in line with expected changes in market rates and the overall risk
appetite.
Interest rate risk in the banking book is not only measured within a value-at-risk framework but also managed by the
traditional tools of nominal and interest rate gap analyses. Interest rate risk is subject to quarterly reporting in the context of
the interest rate risk statistic submitted to the banking supervisor. This report also shows the change in the present value of
the banking book as a percentage of total capital in line with the CRR requirements. Maturity assumptions needed in this
analysis are defined as specified by regulatory authorities and based on internal statistics and empirical values.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 481
Change in the present value of the Group’s banking book given a one-basis point interest rate increase in € thousand:

2025 in € thousand | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
ALL | (5) | (3) | (6) | (9) | (14) | 8 | 12 | 23 | 7 | (5) | (12) | (6)
CHF | (24) | (8) | (3) | 0 | 2 | 2 | (1) | (2) | (4) | (6) | (3) | 0
CNY | (5) | (3) | (1) | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (595) | 28 | (18) | (46) | (255) | (126) | (117) | 127 | (51) | (118) | (16) | (2)
EUR | (2,283) | 55 | (117) | (85) | (224) | (190) | 101 | (323) | (616) | (633) | (253) | 1
GBP | (7) | (1) | (3) | (2) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | (335) | (6) | (3) | (41) | (91) | (19) | (18) | (81) | (79) | 1 | 2 | 1
PLN | (23) | (3) | (3) | (5) | 2 | (3) | (6) | (2) | (2) | 0 | 0 | 0
RON | (391) | 14 | 1 | (14) | (111) | (105) | (219) | (36) | 80 | 0 | 0 | 0
RSD | (24) | 4 | (2) | 5 | (50) | (7) | 6 | 15 | 4 | 0 | 0 | 0
RUB | (230) | (28) | (9) | (23) | (114) | (38) | 57 | 39 | (54) | (46) | (11) | (2)
SGD | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
UAH | (1) | 1 | 5 | 3 | (7) | (17) | 14 | 0 | 0 | 0 | 0 | 0
USD | 24 | 22 | 3 | (2) | (9) | (7) | 16 | (3) | 4 | 0 | 0 | 0
Other | (77) | 4 | (4) | (6) | (5) | 12 | 36 | (45) | (37) | (28) | (5) | 0

The presentation of currencies changed year-on-year depending on the absolute amount of interest rate sensitivity.

2024 in € thousand | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
ALL | (5) | 0 | (5) | (11) | (9) | 8 | 18 | (12) | (1) | 5 | 2 | 1
CHF | (44) | (19) | (6) | (1) | 7 | 4 | (3) | (6) | (6) | (7) | (5) | (1)
CNY | (3) | (1) | (1) | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (973) | 37 | (15) | (13) | (348) | (155) | (209) | 47 | (65) | (201) | (50) | (2)
EUR | (1,636) | 145 | (24) | 83 | (174) | (150) | (213) | (415) | (3) | (530) | (356) | 1
GBP | (9) | (1) | (1) | (4) | (4) | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | (278) | (16) | (1) | (29) | (32) | (45) | (31) | (53) | (68) | (5) | 1 | 0
PLN | (17) | 0 | (3) | (4) | (4) | 7 | (4) | (6) | (3) | 0 | 0 | 0
RON | (249) | 16 | 13 | 19 | (81) | (35) | (178) | (91) | 88 | 0 | (1) | 0
RSD | 74 | 7 | 0 | (3) | (7) | (25) | 37 | 19 | 46 | 0 | 0 | 0
RUB | (207) | (15) | (6) | 7 | (128) | (71) | 8 | 50 | (15) | (30) | (5) | 0
SGD | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
UAH | 23 | 3 | 7 | 9 | (4) | (4) | 13 | (1) | 0 | 0 | 0 | 0
USD | (16) | 23 | (11) | 9 | (16) | (11) | (3) | (14) | 8 | 0 | 0 | 0
Other | (93) | 2 | 0 | 2 | (8) | 0 | (7) | (44) | (28) | (8) | (2) | 0

Credit spread risk
The market risk management framework uses time-dependent bond and CDS spread curves as risk factors in order to
measure credit spread risks. It captures all capital market instruments in the trading and banking book.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
482 Consolidated financial statements
(43) Liquidity management
Despite ongoing political risks, the liquidity position remained stable in the financial year.
The ILAAP framework and governance once again proved to be solid and functioning even in times of crisis. Daily monitoring of
the liquidity position using dynamic dashboards showed that the infrastructure and monitoring are effective and support quick
reactions in times of crisis.
Funding structure
The Group’s funding structure is highly focused on retail business in Central and Eastern Europe. In addition, as a result of the
Austrian Raiffeisen Banking Group’s strong local market presence, the Group also benefits from funding through the Raiffeisen
Landesbanken. Different funding sources are utilized in accordance with the principle of diversification. These include the issue
of international bonds by RBI AG, the issue of local bonds by the Group units and the use of third-party financing loans (includ-
ing supranationals). Partly due to tight country limits and partly due to beneficial pricing, the Group units also use loans with
third-party banks.
82.0%
Loan/Deposit Ratio
(minus 0.7PP)
Principles
Internal liquidity management is an important business process within general bank management, because it ensures the
continuous availability of funds required to cover day-to-day demands.
Liquidity adequacy is ensured from both an economic and a regulatory perspective. In order to approach the economic per-
spective RBI established a governance framework comprising internal limits and steering measures which complies with the
Principles for Sound Liquidity Risk Management and Supervision set out by the Basel Committee on Banking Supervision and the
Kreditinstitute-Risikomanagement-Verordnung (KI-RMV) issued by the Austrian regulatory authority.
The regulatory component is addressed by complying with the reporting requirements under Basel III (Liquidity Coverage Ratio,
Net Stable Funding Ratio, and Additional Liquidity Monitoring Metrics) as well as by complying with the regulatory limits. In
addition, some Group units have additional liquidity and reporting requirements set by their local supervisory authorities.
Organization and responsibility
Responsibility for ensuring adequate levels of liquidity lies with the overall Management Board. The board members with func-
tional responsibility are the Chief Financial Officer (Treasury) and the Chief Risk Officer (Risk Controlling). Accordingly, the pro-
cesses regarding liquidity risk are essentially run by two areas within the bank: Firstly the Treasury units, which take on liquidity
risk positions within the strategy, guidelines and parameters set by the responsible decision-making bodies. Secondly, they are
monitored and supported by independent Risk Controlling units, which measure and model liquidity risk positions, set limits and
supervise compliance with those.
Besides the responsible units in the line functions, all subsidiary banks have respective asset/liability management committees
(ALCOs). These committees act as decision-making bodies with respect to all matters affecting the management of the liquid-
ity position and balance sheet structure of a unit including the definition of strategies and policies for managing liquidity risks.
The ALCOs take decisions and provide standard reports on liquidity risk to the Management Board at least on a monthly basis.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 483
On Group level these functions are taken by the Group ALCO. Treasury operations and the respective ALCO decisions are mainly
based on group-wide, standardized Group rules and their local supplements, which take specific regional factors into account.
Liquidity strategy
Treasury units are committed to achieving KPIs and to complying with risk-based principles. The current set of KPIs includes
general targets, e.g. for return on risk-adjusted capital (RORAC) or coverage ratios, as well as specific Treasury targets for li-
quidity such as a minimum survival period in defined stress scenarios or minimum liquidity targets in regulatory indicators.
While generating an adequate structural income from maturity transformation which reflects the liquidity and market risk po-
sitions taken by the bank, Treasury has to follow a prudent and sustainable risk policy when steering the balance sheet. Strate-
gic goals comprise a reduction of parent funding within the Group, the sustainable management of the depositor base and
credit growth as well as continuous compliance with regulatory requirements and the internal limit framework.
Liquidity risk framework
Regulatory and internal liquidity reports and ratios are generated based on certain modelling assumptions. Whereas the regu-
latory reports are calculated on specifications given by authorities, the internal reports are modelled with assumptions from
empirical observations.
The Group has a substantial database along with expertise in forecasting cash flows arising from all material on- and off-bal-
ance sheet positions. The modelling of liquidity inflows and outflows is carried out on an appropriate granular level, differenti-
ating between product and customer segments, and, where applicable, currencies as well. Modelling of retail and corporate
customer deposits includes assumptions concerning the retention times for deposits after maturity. The model assumptions
are quite prudent, e.g. there is a no-rollover assumption on funding from banks and all funding channels and the liquidity buffer
are stressed simultaneously.
The cornerstones of the economic liquidity risk framework are the Going Concern (GC) and the Time-to-Wall (TTW) scenario.
The Going Concern report shows the structural liquidity position. It covers all main risk drivers which could detrimentally affect
the Group in a business-as-usual scenario. The Going Concern models are important input factors for the liquidity contribution
to the internal funds transfer pricing model. On the other hand, the Time-to-Wall report shows the survival horizon for defined
adverse scenarios and stress models (market, reputational and combined crisis) and determines the minimum level of the li-
quidity buffer (and/or the counter-balancing capacity) of the Group and its individual units.
The liquidity scenarios are modelled using a group-wide approach, acknowledging local specifications where they are justified
by influencing factors such as the market or legal environment or certain business characteristics; the calculation is performed
at RBI AG. The modelling of cash inflows and outflows differentiates between product and customer segments, while if
applicable, a distinction is also made between different currencies. For products without a contractual maturity, the
distribution of cash inflows and outflows is calculated using a geometric Brownian motion which derives the statistical
forecasts for future daily balances from the observed, exponentially weighted historical volatility of the corresponding
products. For market crisis scenario a special model for assessment of the potential liquidity outflow due to margin calls is in
place. This model relies on Value-at-Risk calculations to estimate the potential depreciation of derivative portfolios involving
counterparties with CSA or variation margin agreements. By incorporating this outflow into the liquidity risk stress test, a
corresponding buffer is maintained to account for potential margin calls in extremely adverse situations.
The liquidity risk framework is continuously developed at both Group level and at the level of the individual Group units. The
technical infrastructure is further enhanced in numerous group-wide projects and data availability is improved in order to meet
increasing regulatory and internal reporting and management requirements for this area of risk.
Risk appetite and liquidity limits
The liquidity position is monitored on Group level and on individual unit level and is restricted by means of a comprehensive
limit system. Limits are defined both under a business-as-usual as well as under a stress perspective. In accordance with the
defined risk appetite, each Group unit must demonstrate a survival horizon of several months (TTW) in a severe, combined
stress scenario (reputational and market stress). This can be ensured either by a structurally positive liquidity profile or by a
sufficiently high liquidity buffer. In a normal going-concern environment, maturity transformation must be fully covered by the
available liquidity buffer in the medium term. This means that the cumulative liquidity position over a period of up to one year
must be positive. In the long term (one year or more), maturity transformation is permitted up to a certain level. The internal
model limits are supplemented by limits for compliance with regulatory liquidity ratios, such as the liquidity coverage ratio. All
limits must be complied with on a daily basis.
Liquidity monitoring
The bank uses a range of customized measurement tools and early warning indicators that provide board members and senior
management with timely and forward-looking information. The limit framework ensures that the bank can continue to
operate in a period of severe stress.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
484 Consolidated financial statements
Monitoring of limits and reporting limit compliance is performed regularly and effectively. Any breach by Group units is
reported to the Group ALCO and escalated. In such cases, appropriate steps are undertaken in consultation with the relevant
unit or contentious matters are escalated to the next highest responsible body.
Liquidity stress testing
Stress tests are conducted for RBI AG and the subsidiary banks on a daily basis and on Group level. The tests cover three
scenarios (market, reputational and combined crisis), consider the effects of the scenarios for a period of several months and
demonstrate that stress events can simultaneously result in a time-critical liquidity requirement in several currencies. The
stress scenarios include the principal funding and market liquidity risks. This means that in the stress tests of the Group, all
subsidiaries are simultaneously subject to a pronounced combined crisis for all their major products. The results of the stress
tests are reported to the Chief Risk Officer and the Chief Financial Officer as well as other members of management on a
weekly basis; they also form a key component of the monthly ALCO meetings and are included in RBI's strategic planning and
contingency planning.
A conservative approach is adopted when establishing outflow ratios based on historical data and expert opinions. The simula-
tion assumes a lack of access to the money or capital market and simultaneously significant outflows of customer deposits. In
this respect, the deposit concentration risk is also considered by assigning higher outflow ratios to large customers. Further-
more, stress assumptions are formulated for the drawdown of guarantees and credit obligations. In addition, the liquidity
buffer positions are adapted by haircuts in order to cover the risk of disadvantageous market movements, and the potential
outflows resulting from collateralized derivative transactions are estimated. The bank continuously monitors whether the
stress assumptions are still appropriate or whether new risks need to be considered.
The Time-to-Wall concept has established itself as the main control instrument for day-to-day liquidity management and is
therefore a central component of funding planning and budgeting. It is also fundamental to determining performance ratios
relating to liquidity.
Liquidity buffer
As shown by the daily liquidity risk reports, the main Group units actively maintain and manage liquidity buffers, including high-
quality liquid assets (HQLA) which are always sufficient to cover the net outflows expected in crisis scenarios. The Group has
sizeable, unencumbered and liquid securities portfolios and favors securities eligible for central bank tender transactions in
order to ensure sufficient liquidity in various currencies. The main Group units ensure the availability of liquidity buffers, test
their ability to utilize central bank funds, constantly evaluate their collateral positions as regards their market value and en-
cumbrance and examine the remaining counterbalancing capacity, including the funding potential and the saleability of the
assets.
Stress assumptions are applied to all positions in the liquidity buffer. This is reflected in the stress test liquidity report (time-to-
wall) and includes both a central bank haircut and a specific write-down assumption. The central bank haircut is applied to
each individual security eligible as collateral. The write-down assumption is modeled for the portfolio of eligible securities
based on historical market indicators and reduces the volume of the liquidity buffer in the stress test scenario.
Intraday liquidity management
In compliance with regulatory requirements for intraday liquidity management, the available liquidity is calculated daily analo-
gous to the outflow assumptions of the regular liquidity stress reports (time-to-wall) for RBI AG. In case of limit breaches, an
intraday contingency and escalation process is triggered commensurate with the severity of the breach. For the whole of RBI,
the local intraday liquidity management process is within the responsibility of the local Treasury unit which ensures that the
following minimum standards are implemented locally: clear responsibilities and workflows for managing intraday liquidity;
daily monitoring of available intraday liquidity; intraday liquidity forecasting model and limit; escalation and contingency pro-
cesses and measures in case of limit breaches.
Contingency funding plan
Under difficult liquidity conditions, the units switch to a contingency process in which they follow predefined liquidity contin-
gency plans. These contingency plans also constitute an element of the liquidity management framework and are mandatory
for all significant Group units. The emergency management process is designed so that the Group can retain a strong liquidity
position even in serious crisis situations.
Liquidity position
Group funding is founded on a strong customer deposit base supplemented by wholesale funding – mainly via RBI AG and the
Group units. Funding instruments are appropriately diversified and are used regularly. The ability to procure funds is precisely
monitored and evaluated by the Treasury ALM units and the ALCOs.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 485
In the past year and to date, the Group’s excess liquidity was above all regulatory and internal limits (with a handful of excep-
tions in the area of internal sub-limits). The result of the internal time-to-wall stress test demonstrates that the Group would
survive throughout the modelled stress phase of several months even without applying contingency measures.
The Going Concern report shows the structural liquidity position. It covers all material risk drivers which might affect the Group
in a business as usual scenario. The results of the going concern scenario are shown in the following table. It illustrates excess
liquidity and the ratio of expected cash inflows plus counterbalancing capacity to cash outflows (liquidity ratio) for selected
maturities on a cumulative basis. Based on assumptions employing expert opinions, statistical analyses and country specifics,
this calculation also incorporates estimates of the stability of the customer deposit base, outflows from items off the state-
ment of financial position and downward market movements in relation to positions which influence the liquidity counterbal-
ancing capacity.

in € million | 2025 | 2024
Maturity | 1 month | 1 year | 1 month | 1 year
Liquidity gap | 15,635 | 18,779 | 53,419 | 58,866
Liquidity ratio | 201% | 156% | 191% | 153%

Liquidity coverage ratio (LCR)
The liquidity coverage ratio (LCR) requires the short-term resilience of banks by ensuring that they have an adequate stock of
unencumbered high-quality liquid assets (HQLAs) to meet potential liability run offs that might occur in a crisis, which can be
converted into cash to meet liquidity needs for a minimum of 30 calendar days in a liquidity stress scenario.
The calculation of expected inflows and outflows of funds and the HQLAs is based on regulatory guidelines. The regulatory
limit for LCR is 100 per cent.

in € million | 2025 | 2024
Average liquid assets | 41,227 | 40,064
Net outflows | 29,232 | 22,028
Inflows | 12,147 | 17,127
Outflows | 41,379 | 39,155
Liquidity Coverage Ratio | 141% | 182%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
486 Consolidated financial statements
Net Stable Funding Ratio (NSFR)
The NSFR is defined as the ratio of available stable funding to required stable funding. Available stable funding is defined as
the portion of equity and debt which is expected to be a reliable source of funds over the time horizon of one year covered by
the NSFR. A bank’s required stable funding depends on the liquidity characteristics and residual maturities of the various assets
and off-balance-sheet positions. RBI targets a balanced funding position. The required stable funding and available stable
funding are based on regulatory requirements. The regulatory NSFR limit is 100 per cent.

in € million | 2025 | 2024
Required stable funding | 119,239 | 110,351
Available stable funding | 169,043 | 159,835
Net Stable Funding Ratio | 142% | 145%

Funding liquidity risk
Funding liquidity risk is mainly driven by changes in the risk strategy of lenders or by a deterioration in the creditworthiness of a
bank that needs external funding. Funding rates and supply rise and fall with credit spreads, which change due to the market
or bank-specific situation.
As a consequence, long-term funding depends on restoring confidence in banks and increased efforts in collecting customer
deposits. RBI AG’s banking activities are financed by combining wholesale funding and the retail franchise of deposit-taking
subsidiary banks. It is the central liquidity balancing agent for the local Group units in Central and Eastern Europe.
In the Group’s funding plans, special attention is paid to a diversified structure of funding to mitigate funding liquidity risk. In
the Group, funds are not only raised by RBI AG as the Group’s parent institution, but also individually by different banking sub-
sidiaries. Those efforts are coordinated and optimized through a joint funding plan.
Moreover, RBI AG arranges medium-term and long-term funding for its subsidiaries through syndicated loans, bilateral funding
agreements with banks, and financing facilities provided by supranational institutions. These funding sources are based on
long-term business relationships.
For managing and limiting liquidity risks, the targets for the loan/deposit ratio (the ratio of customer loans to customer depos-
its) in the individual subsidiary banks take into account the planned future business volumes as well as the feasibility of in-
creasing customer deposits in different countries. On the one hand, this initiative reduces external funding requirements. On
the other hand, it also reduces the need for internal funding operations and the risk associated with such liquidity transfers.
The following table shows a breakdown of cash flows according to the contractual maturity of financial assets:

2025 in € million | Carrying amount | Contractual cash flows | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
Non-derivative financial assets | 199,984 | 226,618 | 73,284 | 22,552 | 65,277 | 65,506
Cash, balances at central banks and other demand deposits | 35,340 | 35,293 | 35,293 | 0 | 0 | 0
Loans and advances | 118,292 | 138,015 | 30,405 | 17,735 | 44,941 | 44,933
Central banks | 8,431 | 8,435 | 8,435 | 0 | 0 | 0
General governments | 3,909 | 4,101 | 2,409 | 210 | 716 | 766
Banks | 4,251 | 4,389 | 2,236 | 754 | 910 | 489
Other financial corporations | 9,986 | 10,900 | 4,223 | 1,449 | 3,544 | 1,683
Non-financial corporations | 47,597 | 52,597 | 10,235 | 10,936 | 24,882 | 6,543
Households | 44,118 | 57,592 | 2,866 | 4,385 | 14,889 | 35,452
Debt securities | 46,352 | 53,311 | 7,585 | 4,817 | 20,335 | 20,573
Central banks | 36 | 31 | 31 | 0 | 0 | 0
General governments | 38,729 | 45,079 | 6,505 | 4,073 | 16,443 | 18,059
Banks | 4,875 | 5,212 | 905 | 536 | 2,421 | 1,350
Other financial corporations | 1,612 | 1,772 | 56 | 89 | 908 | 719
Non-financial corporations | 1,100 | 1,217 | 89 | 120 | 563 | 445
Derivative financial assets | 4,103 | 3,917 | 565 | 565 | 1,608 | 1,178
Derivatives - Trading book | 3,377 | 3,565 | 558 | 553 | 1,352 | 1,102
Derivatives – hedge accounting | 1,098 | 383 | 34 | 12 | 259 | 78
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (372) | (31) | (27) | (1) | (2) | (1)

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 487

2024 in € million | Carrying amount | Contractual cash flows | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
Non-derivative financial assets | 189,450 | 214,256 | 76,390 | 19,424 | 61,420 | 57,021
Cash, balances at central banks and other demand deposits | 34,871 | 34,761 | 34,761 | 0 | 0 | 0
Loans and advances | 117,608 | 136,649 | 37,044 | 16,040 | 43,991 | 39,573
Central banks | 13,783 | 13,819 | 13,819 | 0 | 0 | 0
General governments | 3,808 | 3,937 | 2,356 | 211 | 627 | 743
Banks | 4,274 | 4,409 | 2,313 | 336 | 1,269 | 491
Other financial corporations | 10,380 | 11,449 | 5,072 | 1,164 | 3,904 | 1,307
Non-financial corporations | 45,293 | 50,568 | 10,829 | 10,196 | 24,220 | 5,322
Households | 40,070 | 52,467 | 2,654 | 4,133 | 13,970 | 31,710
Debt securities | 36,972 | 42,847 | 4,586 | 3,384 | 17,429 | 17,447
Central banks | 398 | 398 | 398 | 0 | 0 | 0
General governments | 30,022 | 35,394 | 3,259 | 2,688 | 13,604 | 15,842
Banks | 4,487 | 4,810 | 766 | 528 | 2,466 | 1,050
Other financial corporations | 1,175 | 1,304 | 56 | 99 | 843 | 306
Non-financial corporations | 889 | 941 | 108 | 69 | 515 | 249
Derivative financial assets | 4,185 | 3,634 | 411 | 558 | 1,848 | 816
Derivatives - Trading book | 3,405 | 3,384 | 377 | 574 | 1,640 | 793
Derivatives – hedge accounting | 1,014 | 230 | 15 | (16) | 209 | 22
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (234) | 19 | 18 | 0 | 0 | 1

The following table shows a breakdown of cash flows according to the contractual maturity of financial liabilities:

2025 in € million | Carrying amount | Contractual cash flows | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
Non-derivative financial liabilities | 179,946 | 183,463 | 130,551 | 12,579 | 24,902 | 15,431
Deposits | 148,252 | 149,078 | 125,116 | 8,208 | 6,774 | 8,981
Central banks | 419 | 434 | 204 | 46 | 80 | 104
General governments | 3,759 | 3,784 | 3,233 | 368 | 150 | 33
Banks | 20,257 | 20,476 | 14,864 | 1,384 | 3,041 | 1,187
Other financial corporations | 11,996 | 12,356 | 8,942 | 696 | 1,726 | 992
Non-financial corporations | 46,164 | 46,258 | 43,585 | 2,162 | 339 | 172
Households | 65,657 | 65,771 | 54,289 | 3,551 | 1,439 | 6,492
Short positions | 1,310 | 1,321 | 1,314 | 0 | 0 | 7
Debt securities issued | 29,095 | 31,711 | 2,808 | 4,345 | 18,115 | 6,443
Other financial liabilities | 1,288 | 1,352 | 1,313 | 26 | 13 | 0
Derivative financial liabilities | 3,384 | 3,460 | 199 | 523 | 1,597 | 1,142
Derivatives - Trading book | 2,785 | 3,600 | 473 | 494 | 1,502 | 1,131
Derivatives – hedge accounting | 942 | 186 | 56 | 27 | 95 | 9
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (343) | (326) | (330) | 2 | (1) | 3
Financial guarantees given | 10,034 | 10,037 | 4,634 | 2,134 | 2,567 | 702
Issued loan commitments | 42,664 | 42,742 | 21,669 | 6,011 | 11,586 | 3,477

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
488 Consolidated financial statements

2024 in € million | Carrying amount | Contractual cash flows | Up to 3 months | More than 3 months, up to 1 year | More than 1 year, up to 5 years | More than 5 years
Non-derivative financial liabilities | 170,694 | 169,643 | 120,112 | 13,311 | 27,138 | 9,081
Deposits | 140,732 | 141,662 | 116,149 | 10,189 | 11,939 | 3,385
Central banks | 391 | 419 | 50 | 122 | 131 | 117
General governments | 3,108 | 3,131 | 2,712 | 228 | 158 | 33
Banks | 22,624 | 23,036 | 16,363 | 1,764 | 3,795 | 1,113
Other financial corporations | 11,421 | 11,684 | 8,153 | 868 | 1,540 | 1,123
Non-financial corporations | 43,834 | 43,959 | 40,767 | 2,692 | 349 | 151
Households | 59,354 | 59,435 | 48,105 | 4,516 | 5,966 | 847
Short positions | 992 | 988 | 983 | 0 | 1 | 4
Debt securities issued | 27,348 | 25,358 | 1,362 | 3,104 | 15,198 | 5,693
Other financial liabilities | 1,622 | 1,635 | 1,617 | 17 | 0 | 0
Derivative financial liabilities | 3,981 | 3,437 | (194) | 547 | 1,998 | 1,086
Derivatives - Trading book | 3,032 | 3,353 | 42 | 446 | 1,833 | 1,033
Derivatives – hedge accounting | 1,308 | 427 | 118 | 99 | 166 | 45
Fair value adjustments of the hedged items in portfolio hedge of interest rate risk | (359) | (343) | (353) | 2 | 0 | 8
Financial guarantees given | 9,243 | 9,242 | 4,359 | 2,108 | 2,253 | 523
Issued loan commitments | 37,635 | 37,633 | 19,435 | 5,215 | 10,374 | 2,609

(44) Operational risks
Operational risk is defined as the risk of losses resulting from inadequate or failed internal processes, people and systems or
from external events, including legal risks, model risks or information and communication technology (ICT) risks, but excluding
strategic and reputational risks. In this risk category internal risk drivers such as unauthorized activities, fraud or theft,
conduct-related losses, modelling errors, execution and process errors, or business disruption and system failures are
managed. External factors such as damage to physical assets or fraud are managed and controlled as well.
This risk category is analyzed and managed based on own historical loss data and the results of risk assessments. As with
other risk types the principle of firewalling of risk management and risk controlling is also applied to operational risk in the
Group. To this end, individuals are designated and trained as Operational Risk Managers for each business area. Operational
Risk Managers provide central Operational Risk Controlling with reports on risk assessments, loss events, indicator values and
measures. They are supported in their work by Dedicated Operational Risk Specialists (DORS).
Operational risk controlling units are responsible for reporting, implementing the framework, developing control measures, and
monitoring compliance with requirements. Within the framework of the annual risk management cycle, they also coordinate
the participation of the relevant second line of defense departments (Financial Crime Management, Compliance, Insurance
Management, Information Security, Physical Security, Business Continuity Management, Internal Control System, Technology
Risk Management) and all first line of defense partners (Operational Risk Managers).
Risk identification
A key step in managing operational risks is the identification and assessment of risks that might endanger the Group’s
existence (even if the occurrence of which is highly improbable), and areas where losses are more likely to arise more
frequently but have only limited impact.
Operational risk assessment is executed in a structured and group-wide uniform manner according to risk categories such as
business processes and event types. Moreover, risk assessment applies to new products as well. All Group units grade the im-
pact of high probability/low impact events and low probability/high impact incidents according to their estimation of the loss
potential for the next year and in the next ten years. Low probability/high impact events are quantified by a group-wide ana-
lytical tool (scenarios). The internal risk profile, losses arising and external changes determine which cases are dealt with in de-
tail. In addition, scenario analyses for focus topics such as ESG, model risks or cyber risks are specified via the Group.
Monitoring
In order to monitor operational risks, early warning indicators are used that allow prompt identification and minimization of
losses. Loss data is collected in a central database called Archer (an overall non-financial risk platform) in a structured manner
and on a group-wide basis according to the event type and the business line. In addition to the requirements for internal and
external reporting, information on loss events is exchanged with international data pools to further develop operational risk
management tools as well as to track measures and control effectiveness. The Group is a participant in the ORX data pool
(Operational Risk Data Exchange Association), whose data are currently used for internal benchmark purposes and analyses
and as part of the operational risk model. The ORX data consortium is an association of banks and insurance groups for statis-
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 489
tical purposes. The results of the analyses as well as events resulting from operational risks are reported in a comprehensive
manner to the relevant Operational Risk Management Committee on a regular basis.
Quantification and mitigation
At year-end 2025, the equity requirement for operational risk was calculated using the Business Indicator Components (BIC)
method, based on the new approach according to CRR/Basel IV. Due to the size of the underlying business indicator (BI), the
relevant formula for a medium-sized bank is applied for RBI Group.
The economic capital is based on an internal model with external and internal losses as input factors and group-wide scenar-
ios. Risk-based control is carried out with allocation based on the input factors of the relevant units and the operating income
for stabilization. The standards which are implemented and complied with at Group level correspond to an advanced approach
for all operational risk methods.
To reduce operational risk, business managers decide on preventive risk-reduction actions such as risk mitigation or risk trans-
fer. The progress and effectiveness of these actions is monitored by Risk Control. The former also define contingency plans and
nominate responsible persons or departments for initiating the defined actions if losses in fact occur. In addition, several dedi-
cated organizational units provide support to business units for preventing operational risks. An important role in connection
with operational risk activities is taken on by Financial Crime Management and Technology Risk Management. Financial Crime
Management provides support for the prevention and identification of fraud. Technology Risk Management has an important
role in defining and monitoring IT risks. The Group also conducts an extensive staff training program and has different con-
tingency plans and back-up systems in place. Loss data per category of operational risk are collected for all units in the CRR
Group.
These are distributed across the Basel risk categories as follows, but do not include any loss events that are already reflected
in the credit risk provisions:

in € million | 2025 | Share | 2024 | Share
Clients, Products and Business Practices | 1,968 | 100.0% | 1,586 | 97.7%
External Fraud | 4 | 0.2% | 3 | 0.2%
Internal Fraud | 1 | 0.1% | 23 | 1.4%
Technology and Infrastructure Failures | 1 | 0.0% | 3 | 0.2%
Employment Practices and Workplace Safety | 1 | 0.0% | 0 | 0.0%
Disasters and Public Safety | 0 | 0.0% | 0 | 0.0%
Excecution, Delivery and Process Management | -7 | (0.3)% | 8 | 0.5%
Total | 1,969 | 100.0% | 1,625 | 100.0%

In 2024, the external reporting for calculating operational losses was aggregated as follows based on the causal relationship. A
group of individual events with a related cause is counted as one event (parent event) and the total loss amount of this group
(sum of all effects/bookings which belong to the group) is assigned to the parent event.

Number of OpRisk events | 2025 | Share | 2024 | Share
External Fraud | 846 | 47.1% | 1,209 | 58.2%
Excecution, Delivery and Process Management | 637 | 35.4% | 596 | 28.7%
Clients, Products and Business Practices | 165 | 9.2% | 123 | 5.9%
Technology and Infrastructure Failures | 70 | 3.9% | 80 | 3.9%
Disasters and Public Safety | 59 | 3.3% | 46 | 2.2%
Employment Practices and Workplace Safety | 14 | 0.8% | 16 | 0.8%
Internal Fraud | 6 | 0.3% | 6 | 0.3%
Total | 1,797 | 100.0% | 2,076 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
490 Consolidated financial statements
Other disclosures
(45) Pending legal issues
RBI is involved in various legal, administrative or arbitration proceedings before various courts and authorities mainly arising in
the ordinary course of business and involving contractual, labor, and other matters.
A provision is only recognized if there is a legal or constructive obligation because of a past event, payment is likely, and the
amount can be reliably estimated. A contingent liability that arises from a past event is disclosed unless payment is highly
unlikely. A contingent asset that arises from a past event is reported if there is high probability of occurrence. In no instance in
the description that follows is an amount stated in which, in accordance with IAS 37, this would be severely detrimental. In
some cases, provisions are measured on a portfolio basis because this results in the obligation being estimated with greater
reliability. RBI has grouped its provisions, contingent assets, and contingent liabilities under the headings of consumer
protection, banking business, regulatory enforcement, and tax litigation.
Rasperia
In August 2024, a Russian company, Rasperia Trading Limited (Rasperia) filed an action against the Austrian company STRABAG
SE (STRABAG) and several major shareholders of STRABAG (STRABAG Shareholders) as well as against RBI’s Russian subsidiary
AO Raiffeisenbank with the Arbitration Court of the Kaliningrad Region. Rasperia, holding 28,500,000 ordinary shares and one
registered share in STRABAG, alleges that it was deprived of its shareholder’s rights, in particular by not being allowed to
participate in shareholder meetings or nominate members of the supervisory board of STRABAG, it is not paid dividends for the
past years and the dilution of its share in STRABAG without its consent and compensation in 2023. According to Rasperia, the
forfeiture of all its shareholder’s rights resulted in the infliction of losses in the amount of approximately € 1.983 billion,
composed of the market value of Rasperia’s share in STRABAG as well as unpaid dividends and interest on both amounts.
AO Raiffeisenbank is mentioned in the claim as related to the other defendants, although not accused of any wrongdoing. RBI
is not a party to these proceedings.
Rasperia has separated the claims against STRABAG and the STRABAG Shareholders from the claims against AO
Raiffeisenbank:
(i) The claim against STRABAG and the STRABAG Shareholders is for damages in the amount of approximately € 1.983 billion
plus interest up to the date of execution of the judgment, as amended from time to time (Claimed Amount).
(ii) The claim against AO Raiffeisenbank is intended to ensure enforcement in Russia of the judgment rendered under item (i)
above and therefore comprises the foreclosure on AO Raiffeisenbank funds (in particular with regard to its retained earnings)
for the compensation of the Claimed Amount awarded to Rasperia and, in return, the recognition of AO Raiffeisenbank
ownership of the 28,500,000 STRABAG ordinary shares and one registered share held by Rasperia from the date of execution of
the judgment against AO Raiffeisenbank.
In the preliminary court hearing on 16 October 2024, the Claimed Amount was increased from approximately € 1.983 billion to
approximately € 2.043 billion.
On 20 January 2025, the Arbitration Court of the Kaliningrad Region rendered its verdict and decided that STRABAG and the
STRABAG Shareholders are liable to pay € 2.044 billion to Rasperia and that the verdict can be enforced against AO
Raiffeisenbank's assets.
In its verdict, the Russian court has also acceded to Rasperia's request according to which the ownership rights for the shares
of STRABAG held by Rasperia are to be transferred to AO Raiffeisenbank. However, Russian verdicts have no binding effect in
Austria and the transfer of shares is therefore not enforceable. Furthermore, Rasperia's STRABAG shares are subject to an
asset freeze under EU sanctions which also currently prevents their transfer.
On 21 February, AO Raiffeisenbank filed an appeal against the verdict with suspensive effect. On 24 April 2025, the Russian
appeal court in St. Petersburg confirmed the first-instance verdict from the Arbitration Court of the Kaliningrad Region. As a
consequence of this verdict from the Russian appeal court in St. Petersburg, AO Raiffeisenbank is required to pay the damages
of € 2.044 billion, awarded by the Arbitration court of Kaliningrad Region. On 25 April 2025 AO Raiffeisenbank appealed the
second-instance verdict in the next instance, the Court of Cassation in St. Petersburg. The appeal to the Court of Cassation
was accompanied by a request to suspend the enforcement of the second-instance judgment, which has however already
been dismissed by the Court of Cassation. In a court hearing held on 4 August 2025, the Court of Cassation in St. Petersburg
denied AO Raiffeisenbank’s cassation appeal against the verdict. AO Raiffeisenbank abstained from filing an extraordinary
appeal to the Supreme Court of the Russian Federation to minimize any further financial risk.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 491
On 30 April 2025, Rasperia requested the Russian Central Bank (CBR) to enforce the judgement by debiting a correspondent
account of AO Raiffeisenbank at the CBR with the RUB equivalent of € 1.870 billion (this corresponds to the damages awarded
to Rasperia by the Arbitration Court of the Kaliningrad Region, excluding interest of approximately € 174 million). In accordance
with this request, on 30 April an amount of RUB 174.221 billion was deducted or seized from a CBR correspondent account of AO
Raiffeisenbank by the CBR in favor of Rasperia. The interest awarded to Rasperia by the Arbitration Court of the Kaliningrad
Region had not been part of Rasperia's enforcement request to the CBR at that point in time but was the subject of a second
enforcement request on 26 May 2025. Consequently, on 27 May 2025, an amount of approximately RUB 21.599 billion
(corresponding to an amount of approximately € 239 million including additional interest accrued meanwhile) was deducted or
seized from a CBR correspondent account of AO Raiffeisenbank by the CBR in favor of Rasperia; yet, in its second enforcement
request, Rasperia omitted one day of the interest period. Finally, on 15 July 2025, upon Rasperia’s third enforcement request, an
amount of approximately RUB 36.7 million (corresponding to approximately € 400,000), which represents the remaining amount
of interest, was deducted or seized from a CBR correspondent account of AO Raiffeisenbank by the CBR in favor of Rasperia.
RBI Group maintains a high degree of confidence in the judicial enforcement of its damage claim against Rasperia in Austria
and the enforceability thereof against Rasperia’s assets in Austria. The judicial enforcement of the damage claim against
Rasperia can be carried out in full compliance with EU sanction law, to mitigate damages by seeking enforcement against
Rasperia's assets in Austria. The legal bases for such recourse litigation are rooted, inter alia, in EU sanctions (Article 11a of
Council Regulation (EU) 269/2014 and Article 11b of Council Regulation (EU) 833/2014), which specifically target cases like a
recourse litigation against Rasperia. Accordingly, a positive outcome of the recourse litigation is still considered by
management to be highly likely.
On 12 August 2025, AO Raiffeisenbank was served with a further lawsuit of Rasperia against STRABAG and the STRABAG
Shareholders as well as AO Raiffeisenbank which had been filed with the Arbitration Court of the Kaliningrad Region. Rasperia
claims from STRABAG and the STRABAG Shareholders the ruble equivalent of approximately € 339 million comprising inter alia
damages for the non-receipt by Rasperia of the monetary compensation related to the reduction of the authorized capital of
STRABAG implemented in 2024, for unpaid dividends of STRABAG for 2024 as well as interest on the various amounts which will
continue to accrue until the date of full payment. Rasperia again included AO Raiffeisenbank in its claim to ensure full
enforcement of the judgment against AO Raiffeisenbank’s funds in Russia. RBI is not a party to these proceedings. On 18
December 2025, the Arbitration Court of the Kaliningrad Region rendered its verdict and decided that STRABAG and the
STRABAG Shareholders are liable to pay € 339 million to Rasperia and that the verdict can be enforced against AO
Raiffeisenbank's assets. AO Raiffeisenbank appealed this verdict with suspensive effect. In December 2025 AO Raiffeisenbank
booked a provision in the amount of € 339 million.
Application for an anti-suit injunction
On 9 June 2025, Rasperia filed an application for an anti-suit injunction (ASI) before the Arbitral Court of the Kaliningrad Region,
targeting the STRABAG Shareholders and AO Raiffeisenbank. According to the ASI application, Rasperia seeks (A) to prevent the
continuation of arbitration proceedings in Amsterdam initiated by the STRABAG Shareholders against Rasperia (Amsterdam
Arbitration) and (B) to prohibit the filing of damage claims before foreign courts related to the Kaliningrad proceedings which
resulted in the Russian verdict dated 20 January 2025. Rasperia requests a RUB equivalent of € 1.09 billion penalty to be
enforced against AO Raiffeisenbank for non-compliance with the ASI in relation to the Amsterdam Arbitration (see item (A)
above), claiming AO Raiffeisenbank is controlled by one of the STRABAG Shareholders. On July 2, 2025, Rasperia amended its ASI
application to include RBI as a respondent and seeks to prohibit RBI from initiating foreign proceedings for damages related to
the Kaliningrad proceedings (see item (B) above). In July and September 2025, all STRABAG Shareholders discontinued the
Amsterdam Arbitration and withdrew their claims with prejudice. In turn, and in preparation for an oral hearing on 13 October
2025, Rasperia withdrew its ASI request related to the Amsterdam Arbitration and the € 1.09 billion penalty (see item (A) above).
The Arbitral Court of the Kaliningrad Region adjourned the hearing on Rasperia’s second ASI request (see item (B) above) until
25 February 2026.
Assessment of legal risks
An affirmative judgment in Austrian civil proceedings would, in turn, allow enforcement against Rasperia's shares of STRABAG
as well as any related dividends or payments related to capital measures that have been withheld due to sanctions.The
probability of success in the administrative proceedings to unfreeze Rasperia's assets as well as in the enforcement
proceedings against its shares including withheld payments related to capital measures are expected to be highly likely.
While litigation always bears risks, in the external legal assessment no substantial obstacles were identified why RBI should not
prevail. Remaining uncertainties in connection with a recourse litigation initiated against Rasperia in Austria may include the
following:
· Untested EU sanctions framework: The relevant EU sanctions framework is practically untested.
· Time-bar on dividends: No case law is available on the legal consequences of the statute of limitation stipulated in
STRABAG's articles of association for dividends.
· Unfreezing of Rasperia’s assets: In the context of EU sanctions law, a minor degree of legal uncertainty remains, as
an authority could argue that it should not issue a positive decision even if the requirements are met. However, this
risk is expected to be very low.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
492 Consolidated financial statements
From a U.S. sanctions perspective, it should be noted that the United States maintains two broad categories of sanctions:
“primary sanctions” and “secondary sanctions. Primary sanctions apply to activities with a U.S. nexus, involving U.S. persons or
connections to U.S. territory, and can require OFAC licenses for transactions otherwise prohibited. Secondary sanctions target
non-U.S. individuals and entities engaging in specified activities with sanctioned parties, aiming to discourage such conduct
without requiring a U.S. nexus, and can lead to various sanctions. Since there is no U.S. nexus there would be no U.S. primary
sanctions jurisdiction over the judgment in Russia or the potential recourse litigation in Austria. Secondary sanctions, on the
other hand, are to be considered because Rasperia is subject to U.S. sanctions. As in the past RBI AG continues to transparently
brief OFAC and the U.S. Treasury on material developments in the Russian litigation and the recourse litigation in Austria as
well. Accordingly a potential U.S. sanction risk to RBI AG and AO Raiffeisenbank stemming from the Russian verdict against AO
Raiffeisenbank and from potential RBI AG/AO Raiffeisenbank recourse litigation in Austria, but also for potential buyers and
involved parties in the context of the execution of the assets of a sanctioned company, is expected to be low.
Accounting policy information and critical accounting judgement
Due to changed circumstances related to Rasperia's application for an anti-suit injunction, management's assessment of the
expected cash inflow from enforcing claims against Rasperia has changed. The revised assessment as of June 30, 2025,
considers Rasperia's application for the anti-suit injunction against RBI Group and the associated risks of asset outflow within
the RBI Group, the chances of averting this, and the resulting delay in RBI's lawsuit against Rasperia in Austria. Consequently,
management concluded that the criteria for recognizing an asset under IFRS were no longer met.
On 18 December 2025, the Arbitration Court of the Kaliningrad Region rendered its verdict and decided that STRABAG and the
STRABAG Shareholders are liable to pay € 339 million to Rasperia and that the verdict can be enforced against AO
Raiffeisenbank's assets. AO Raiffeisenbank appealed this verdict with suspensive effect. In December 2025 AO Raiffeisenbank
booked a provision in the amount of € 339 million.
Financial Impact
In the fiscal year 2025, the damages awarded to Rasperia amounting to € 2,109 million (including interest) were withdrawn
from AO Raiffeisenbank's correspondent account by the CBR, and the provision formed at the end of 2024 amounting to € 840
million was utilized. Due to the revised management assessment, from the expected proceeds from the enforcement of RBI’s
claims against the Austrian assets of Rasperia amounting to € 1,204 million were derecognized in June 2025. Despite the
changed accounting treatment, the legal assessment remains unchanged, and the management maintains a high degree of
confidence in its legal claim against Rasperia and the enforceability thereof against Rasperia’s assets in Austria.
For the damages claimed by Rasperia, against STRABAG and the STRABAG shareholders for the non-receipt of financial
compensation related to the capital reduction carried out in 2024 as well as for unpaid dividends and the interest accruing on
them until full payment, a provision of € 339 million was recognized.
Preliminary injunction (Temporary transfer ban)
Related to the above mentioned legal proceedings initiated by Rasperia against, among others, AO Raiffeisenbank, a Russian
court had on 5 September 2024 issued a preliminary injunction, by which shares of AO Raiffeisenbank were subject to a
temporary transfer ban with immediate effect. The purpose of the transfer ban was to keep the current state unchanged until
Rasperia's claims are settled. As a result of this court decision RBI could not transfer its shares in AO Raiffeisenbank which
complicated the efforts of RBI to sell a controlling stake in AO Raiffeisenbank. As AO Raiffeisenbank’s motion to cancel the
preliminary injunction was rejected, AO Raiffeisenbank filed an appeal to the Arbitration Court of Appeal in St. Petersburg on 27
September 2024. On 5 December 2024, the Arbitration Court of Appeal confirmed the preliminary injunction. AO Raiffeisenbank
filed an appeal to the Court of Cassation in St. Petersburg in January 2025 which was dismissed on 24 March 2025. The transfer
ban on AO Raiffeisenbank shares, which was imposed as a measure to secure payment of damages, was expected to be lifted
upon the disbursement of the full amount of damages including interest as awarded to Rasperia by the Arbitration Court of
the Kaliningrad Region. Accordingly, following the deduction or seizure of the full of amount of damages including interest
awarded to Rasperia by the Russian verdict dated 20 January 2025, AO Raiffeisenbank filed a motion with the competent
Russian court to lift the transfer ban on 23 July 2025. In a court hearing held on 4 August 2025, the Court of Cassation in St.
Petersburg granted AO Raiffeisenbank’s motion to cancel the preliminary injunction and lifted the transfer ban over the shares
in AO Raiffeisenbank.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 493
Consumer protection
RBI faces customer lawsuits in connection with consumer protection matters. Most claims relate to terms of contract that are
alleged to breach consumer protection or other laws. The legal risk associated with such claims is heightened by the danger of
politically motivated legislation that increases the degree of unpredictability.
Croatia
In Croatia, following litigation initiated by a Croatian consumer association against Raiffeisenbank Austria, d.d., Zagreb (RBHR),
and other Croatian banks, two contractual clauses used in consumer loan agreements between 2003/2004 and 2008 were
declared null and void: an interest change clause and a CHF index clause. The decision on the interest adjustment clause
cannot be challenged any more. The decision on the nullity of the CHF index clause which was confirmed by the Croatian
Supreme Court also passed control of the Croatian Constitutional Court. RBHR is exploring the possibility to challenge this
decision, and submitted an application before the European Court for Human Rights in August 2021. The issue of CHF-indexed
loans which were converted under the Croatian Conversion Act into EUR-indexed loans was pending before the Court of Justice
of the European Union (CJEU) for preliminary ruling. In May 2022, CJEU published a preliminary ruling but like the Croatian
Supreme Court in a sample dispute, CJEU did not answer whether consumers of converted loans are entitled to any additional
compensation (besides the positive effects of the conversion performed under provisions of the Croatian Consumers Credit Act
2015). Therefore, the issue whether consumers are entitled to additional compensation (notwithstanding conversion) remained
for domestic courts to judge, primarily for the Croatian Supreme Court. Based on the decisions already rendered on the nullity
of the interest change clause and/or the CHF index clause, a number of borrowers have already raised claims against RBHR. In
its session in December 2022, the Croatian Supreme Court adopted the view that consumers are entitled to additional
compensation only in the amount of penalty interest on overpayments (if any) made until the conversion of CHF-indexed loans
into EUR-indexed loans in 2015. However, in April 2023, the President of the Supreme Court informed the public that the
adopted legal position did not pass the control by the Registrar for Judicial Practice of the Supreme Court who has the
authority to reverse any decision in case he considers that it does not comply with the law. In the meantime (July 2024), the
CJEU ruled in joined cases C-554/21, C-622/21 and C-727/21 that such a legal practice (that a judge/registrar of case law who
did not participate in the decision-making process can stop a final decision of another judge or council of the Supreme Court) is
contrary to EU law. The harmonisation of the CJEU judgment and the case law of the Supreme Court is still pending. The
question of whether the consumers from converted CHF-indexed loans are entitled to additional compensation or not has not
been resolved yet. A possible solution (whether consumers are entitled to additional compensation or not) is expected to be
given in the individual rulings of the Croatian Supreme Court. Only such specific rulings may then be challenged before the
Constitutional Court. Given current legal uncertainties relating to the statute of limitations, the validity of the CHF index
clause/conversion performed, the calculation of the additional compensation, the further course of action, the final outcome of
the request for preliminary ruling and the number of borrowers raising such claims, a final quantification of the financial
impact and the possible damage is not possible at this point of time. In this connection, a provision of € 51 million (previous
year: € 58 million) was recognized.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
494 Consolidated financial statements
Poland
In Poland, a significant number of civil lawsuits are pending in relation to certain contractual stipulations connected with
consumer mortgage loans denominated in or indexed to foreign currencies. As at 31 December 2025, the total amount in
dispute was approximately PLN 8,926 million (€ 2,115 million). The number of such lawsuits continues to increase.
In this context, a Polish court requested the Court of Justice of the European Union (CJEU) to clarify whether certain clauses in
these agreements breach European law and are unfair. The CJEU’s preliminary ruling (C-260/18) in October 2019 does not
answer whether the loan agreements are invalid in whole or part but merely gives interpretative guidance on the principles
according to which the national courts must decide in each individual case. According to this, a loan agreement without unfair
terms should remain valid provided that it is in conformity with national law. If a loan agreement cannot remain valid without
the unfair term, the entire contract would have to be annulled. If the annulment of the entire contract triggers material
negative consequences for the borrower, the Polish courts can replace the unfair term by a valid term in accordance with
national law. The consequences of the contract being annulled must be carefully examined so that the borrower can consider
all potential negative consequences of annulment.
In another proceeding involving RBI, the District Court for Warszawa-Wola in Warsaw requested the CJEU to issue a preliminary
ruling concerning the way in which the contractual provisions concerning the rules for determining the buying and selling rates
for foreign currency are to be formulated in the case of consumer mortgage loans indexed to a foreign currency. In the
judgement of 18 November 2021 in case C-212/20, the CJEU considered that the content of a clause of a loan agreement that
sets the buying and selling prices of a foreign currency to which the loan is indexed must enable a reasonably well informed
and reasonably observant consumer, based on clear and intelligible criteria, to understand the way in which the foreign
currency exchange rate used to calculate the amount of the repayment installments is set. Based on information specified in
such a provision, the consumer must be able to determine on his or her own, at any time, the exchange rate applied by the
entrepreneur. In the justification the CJEU specified that a provision that does not enable the consumer to determine the
exchange rate himself or herself is unfair. Moreover, the CJEU indicated in said judgement that the national court, when the
considered term of a consumer contract is unfair, is not allowed to interpret that term in order to remedy its unfairness, even if
that interpretation would correspond to the common intention of the parties to that contract. Only if the invalidity of the
unfair term were to require the national court to annul the contract in its entirety, thereby exposing the consumer to
particularly unfavorable consequences, so that the consumer would thus be penalized, the national court might replace that
term with a supplementary provision of national law. The CJEU therefore did not entirely preclude national courts hearing such
cases from supplementing the contract with supplementary provisions of national law, but gaps may not be filled solely with
national provisions of a general nature and such remedy may be applied only in strictly limited cases as specified by the CJEU.
The assessment of an unfair nature of contractual provisions as well as the decision concerning supplementation of the
contract after removal of unfair contractual clauses, however, still falls within the competence of the national court hearing
the case. The CJEU did not determine at all whether, in the consequence of the above-mentioned actions, the entire foreign
currency contract is to be annulled.
On 15 June 2023, the CJEU announced its judgment in case C-520/21 on the consequences of the annulment of a mortgage loan
agreement vitiated by unfair terms. The consumer mortgage loan agreement indexed to CHF had been annulled on the ground
that the conversion clauses determining the rate of exchange into PLN for purposes of the monthly installments were
considered to be unfair and that the loan agreement could not continue in existence after removal of the unfair terms. The
CJEU observed that EU law does not expressly govern the consequences of the annulment of a consumer contract which are to
be determined by domestic legislation in the individual EU member states. Such domestic legislation has to be compatible with
EU law and its objectives, in particular to restore the situation which the consumer would have been in had the annulled
contract not existed as well as not to undermine the deterrent effect sought by EU law. According to the CJEU, EU law does not
preclude consumers from seeking compensation from the bank going beyond the reimbursement of the monthly installments
paid and the expenses paid in respect of the performance of the mortgage loan agreement together with the payment of
penalty interest at the statutory rate from the date on which notice is served. Nevertheless, it is a matter for the national
courts to determine whether upholding such claims on the part of the consumers is in accordance with the principle of
proportionality. By contrast, EU law precludes the bank from being able to claim from the consumer compensation going
beyond reimbursement of the capital paid in respect of the performance of the mortgage loan agreement together with the
payment of penalty interest at the statutory rate from the date on which notice is served.
Further specifications on the consequences of the annulment of a consumer mortgage loan agreement vitiated by unfair
terms was provided by the CJEU in its judgments in cases C-756/22 of 11 December 2023, C-488/23 of 12 January 2024 and
C-424/22 of 8 May 2024. None of these proceedings involved RBI directly. In all three cases, the CJEU considered that the
interpretation of EU law requested by the referring courts can be clearly derived from the previous CJEU’s judgments, in
particular from judgement in case C-520/21 of 15 June 2023 comprehensively described in the paragraph above. In the case
C-756/22 the CJEU stated that if a loan agreement is annulled on the ground that it contains unfair terms without which it
cannot continue to be in force, the bank is not allowed to demand the consumer to pay amounts other than the capital paid in
performance of that contract and statutory penalty interest from the time of the demand for payment. In the case C-488/23
the CJEU stated that EU law precludes banks from being able to claim from the consumer – in addition to the reimbursement
of the capital sums paid in performance of the contract and statutory penalty interest from the date of the demand for
payment - compensation consisting of a judicial adjustment of the benefit of the capital sum paid in the event of a material
change in the purchasing power of the currency in question after that capital was paid to the consumer concerned. In the case
C-424/22 of 8 May 2024 the CJEU stated that if a loan agreement is annulled on the ground that it contains unfair terms and
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 495
the bank is therefore obliged to make restitutory payments to a consumer, the bank is not entitled to apply the right of
retention. This means that the bank is not allowed to withhold such payment until the debtor has repaid all sums that he or
she had received from the bank under the loan agreement.
Which impact the above mentioned CJEU judgments will have on the decisions made by Polish courts in individual civil cases
cannot be assessed finally due to the complexity and variability of case-specific factors, as well as the potential differing
contexts and legal nuances involved in each case.
On 25 April 2024, the full Civil Chamber of the Polish Supreme Court (the SC) adopted a resolution concerning legal issues
concerning loans indexed to or denominated in a foreign currency. In line with CJEU judgments, the SC ruled that if a
contractual term referring to an indexation mechanism is considered unlawful and is not binding, it cannot be replaced by
another method of determining the foreign exchange rate resulting from provisions of law or established customs and the
loan agreement shall not be binding in the remaining scope. The decision whether a contractual term is unfair is up to the
court hearing the case concerning an individual loan agreement. If a loan agreement is not binding due to its unlawful terms,
each party has a separate claim for the return of undue payments: the bank for the return of capital and the borrower for the
return of payments. The SC found no justification for mutual settlement of the parties’ claims by the court during the hearing
of the case. The limitation period of the bank’s claim for reimbursement of amounts paid under the loan shall, as a rule,
commence on the day following the day on which the borrower challenged the binding force of the loan agreement against
the bank. Thus, the start of the limitation period depends on the consumer's action and should therefore be analyzed
individually in relation to each contract. This decision modified a previous decision of the SC which provided that the limitation
period of the bank’s claim would start after the consumer is informed about the potential consequences of declaring the loan
agreement invalid and the consumer consents to such a declaration of invalidity. The SC also excluded the possibility for any
party to claim interest or any other remuneration for the use of its funds in the period between the undue payment and the
delay in reimbursing the payment. Despite the fact the resolution was adopted to resolve the arising interpretation issues
connected with disputes concerning loans in Swiss francs, the conclusions arising from it are applicable to loans in other
currencies, including loans in euro, as well.
The above resolution of the SC, combined with the earlier CJEU ruling, means that banks operating in Poland and holding
foreign currency loan portfolios, including RBI, shall not be able to claim any additional remuneration and/or valorization in
connection with such annulled agreements as set out above. Banks shall be limited then only to the possibility to claim the
return of the capital made available to the customer when the loan was originated. This does not affect the possibility of
demanding payment of penalty interest, provided that the conditions for which the bank may demand such interest are met.
As regards the banks’ claim of the return of capital, the guidance provided by the resolution of the SC and the current practice
may be affected by the CJEU judgment dated 19 June 2025 set out below.
On 19 June 2025, the CJEU issued another judgment in case C-396/24, ruling that Directive 93/13/EEC on unfair terms in
consumer contracts prevents banks from demanding full repayment of the disbursed nominal amount of a loan when such
loan agreements are considered null and void, without considering prior repayments made by the consumer (set-off theory).
This ruling may influence the current judicial practice of Polish courts, which, pursuant to the resolution of the Polish Supreme
Court from 25 April 2024 (described in detail above), applies the "two claims" theory. Under this theory, banks may claim full
repayment of amounts paid under a contract declared void, irrespective of the repayments made and the remaining balance
owed. This theory has also served as the basis for banks suing former borrowers to secure capital repayment. Furthermore, the
judgment prohibits the immediate enforceability of rulings favouring banks unless adequate consumer protections are in place.
The potential impact on Polish jurisprudence remains uncertain, with possible outcomes ranging from the adoption of a set-off
theory to the continuation of existing legal frameworks, as the judicial interpretation of this CJEU ruling may vary.
On 27 November 2025, the CJEU delivered a judgment in case C-746/24 which precludes national procedural rules that impose
disproportionately higher court costs on consumers defending against bank-initiated restitution claims for capital compared
to costs incurred in consumer-led actions for contract annulment. It was held that such a disparity in legal expenses
undermines the deterrent effect of Council Directive 93/13/EEC and may discourage consumers from exercising their rights
under the protective framework for unfair contract terms. The Polish civil procedural law provides for a limitation of the
maximum amount of court fees for claims initiated by consumers in cases related to banking activity. Conversely, a bank
initiating legal proceedings against a consumer cannot benefit from such preferential treatment and is required to bear court
fees in accordance with general rules, which results in significantly higher initial costs for the financial institution. Irrespective
of the CJEU's ruling, Polish courts retain the authority to invoke specific domestic procedural regulations to determine the final
allocation of costs, whereby courts are permitted to deviate from general cost-sharing principles based on the principle of
equity or the specific conduct of the parties. Consequently, the ultimate impact of the judgment on RBI’s litigation expenses
depends on the discretionary assessment by national courts in individual cases. RBI continues to monitor the judicial trends and
may adjust its legal risk provisions and procedural strategies to mitigate potential adverse financial effects arising from this
jurisprudence.
Polish common courts have referred further multiple questions to the CJEU regarding interpretation of the Directive 93/13/EEC
on unfair terms in consumer contracts in relation to foreign exchange loan agreements. The issues include i.a. the legality of
requiring consumers to pay legal costs, the interruption of limitation periods for the banks’ claims, treatment of time-barred
claims, banks' set-off rights, reimbursement of insurance costs, and the validity of contractual annexes. These inquiries seek to
clarify how national laws align with EU consumer protection standards.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
496 Consolidated financial statements
A significant Inflow of lawsuits has been observed since the beginning of 2020 mainly as a result of the CJEU ruling in case
C-260/18 and of intensified marketing activity by law firms acting on behalf of borrowers. In the fiscal year 2025, RBI’s Polish
branch recorded 4,334 new lawsuits (previous year: nearly 6,150 lawsuits) with an average of around 361 new lawsuits per
month in 2025 (of which CHF lawsuits 268 and 93 lawsuits for Euro loans). The inflow could continue to decrease as a result of
the increasing number of settlements being reached between RBI’s Polish branch and borrowers as well as the fact that a
significant portion of the loan portfolio is already subject to ongoing litigation, which naturally limits the potential inflow of
new claims.
Furthermore, Polish courts have approached the CJEU with further requests for a preliminary ruling in other civil proceedings
which could lead to further CJEU’s clarifications that could influence how court cases concerning foreign currency loans are
decided by national Polish courts.
The impact assessment in relation to affected FX-indexed or FX-denominated loan agreements may also be influenced by the
outcome of an ongoing administrative court proceeding resulting from the RBI Polish Branch’s appeal against the decision of
the President of the Office of Competition and Consumer Protection (UOKiK).The contested decision stated that RBI’s Polish
branch was engaged in practices violating the collective consumer interests and resulted in an administrative fine on RBI’s
Polish branch and an obligation to provide borrowers information on the violation in case the administrative decision becomes
final. In June 2025, the Court of Competition and Consumer Protection (SOKIK) fully dismissed RBI's appeal against the decision.
In August 2025, RBI lodged an appeal against this judgment to the Court of Appeal in Warsaw.
Moreover, the Polish Financial Ombudsman, acting on behalf of two borrowers, has initiated a civil proceeding against RBI
alleging employment of unfair commercial practices towards consumers in respect of a case in which RBI – following the
annulment of a loan agreement – claimed the full loan amount originally disbursed without taking into account repayments
made in the meantime as well as amounts due for the use of capital by the borrowers based on the principle of unjust
enrichment, and has demanded that RBI discontinue such practices. In May 2023, the claim of the Financial Ombudsman was
dismissed by the court of first instance. The Financial Ombudsman lodged an appeal against this judgment, which was served
on RBI and duly responded to.
RBI is also plaintiff in a number of ongoing civil lawsuits related to mortgage loans denominated in or indexed to Swiss Franc
and Euro which are already terminated. As of 31 December 2025, the total amount in dispute is in the region of approximately
PLN 298.5 million (€ 71 million). The claims of RBI are for principal and interest which had not been paid due to legal objections.
The lawsuits are raised on contractual grounds or on the basis of unjust enrichment.
In addition, RBI has initiated a number of lawsuits based on counterclaims for the reimbursement of capital against borrowers
in case the borrower challenges the validity of the foreign currency mortgage loan against RBI. The filing of the lawsuits aims
at securing RBI’s claims and should prevent that they become time-barred. As of 31 December 2025, the total amount in
dispute in these proceedings amounted to PLN 2.662 million (€631 million). A further bunch of proceedings is expected to be
initiated until the end of 2025. In the coming years, the decision to file such lawsuits will depend on the ultimate impact of the
CJEU judgment in case C-746/24 described above, the development of national jurisprudence and potential legislative
initiatives.
Polish legislation topics
At the end of September 2025, the Polish Government adopted a draft law, introducing special procedures for civil cases
involving loans denominated in or indexed to Swiss francs (CHF). In early October 2025, the draft was submitted to the Sejm
(the lower house of the Polish Parliament) to begin the legislative process. The primary objective of the draft law is to
accelerate litigations related to CHF loans, reduce the burden on the courts, and strengthen consumer protection, in line with
the case law of the Court of Justice of the European Union. As drafted, the law would apply to civil cases between consumers
and banks concerning loans denominated in or indexed to CHF, including loans converted by annex into CHF-denominated or
CHF-indexed agreements. Loans denominated in or indexed to other currencies (notably EUR) would fall outside the scope of
the law. Overall, the proposed framework significantly strengthens the legal position of consumers in litigation against banks.
Upon service of the consumer’s lawsuit or counterclaim on the bank, loan repayments are automatically suspended by
operation of law until the relevant court proceedings are finally concluded. The suspension of the borrower’s repayment
obligations shall not constitute a default or improper performance under the loan agreement and shall not be reported to any
loan or debt registries. Moreover, any entries recorded in such registries prior to service of the statement of claim or
counterclaim on the bank must be deleted. For cases in which the consumer’s lawsuit or counterclaim was served on the bank
before the act enters into force, the suspension of repayment obligations shall take effect from the act’s effective date.
Consequently, from that date, repayments under all affected loan agreements will be automatically suspended by law,
potentially leading to a further reduction in cash inflows from the CHF loan portfolio. Notwithstanding the above, the bank
remains obliged to accept payments if the total amount repaid by the borrower remains below the total loan disbursed.
Importantly, consumers are not required to submit individual requests for suspension of repayments, and courts will no longer
need to issue or review rulings granting such interim measures or related appeals.
The procedural measures proposed in the draft aim to streamline case handling. Under the draft, cases may be heard in closed
sessions notwithstanding a party’s request for a public hearing, parties may submit testimony in writing, and witness
examination may be conducted remotely, even if a party objects to such methods. In addition, a simplified procedure to
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 497
terminate proceedings following the voluntary withdrawal of claims or appeals was introduced at court. To facilitate
settlement and mutual reconciliation, the proposal allows the defendant to raise a set‑off defence up until the close of the
hearing before the court of second instance, or—if the case is heard in a closed session—until the verdict of the
second‑instance court is announced. Similarly, a counterclaim may be filed up to the conclusion of the hearing before the court
of first instance, or—if the case is heard in a closed session—until the first‑instance court judgment is announced. The draft bill
further incentivizes amicable dispute resolution by providing that, if a claim, appeal, or cassation appeal is withdrawn within
six months from the act’s effective date, half of the court fee will be refunded. The draft act also provides for limitations on
the Supreme Court’s ability to hear cassation appeals in cases concerning CHF-related loans.
The act is scheduled to enter into force 14 days after its publication in the official journal of laws. The compressed vacatio legis
underscores the urgency of the measure and may pose significant challenges for the banking sector in implementing its
provisions. In addition to financial effects (reduced inflows from repayments of disputed loans), the proposed provisions may
accelerate the resolution of proceedings before the courts, thereby accelerating the outflow of funds from banks due to the
need to settle final judgments. They may also encourage consumers who have not yet brought claims against banks to initiate
litigation.
Financial Impact
RBI has recognized a provision for filed and expected lawsuits in Poland regarding Swiss Franc and Euro loans, including default
interest that will be payable to customers. As lawsuits have been filed by a number of customers, the provision is based on a
statistical approach that takes into account both statistical data, where relevant, and expert opinions. The term provision,
used here, includes provisions according to IFRS 9, where the gross carrying amount is reduced by the provision amount due to
revision of expected cash flows, as well as provisions according to IAS 37.
RBI has around 17,2 thousand CHF loans to customers outstanding with a total volume of around € 1.3 billion and a further 10.1
thousand CHF loans have been repaid. These also include loans that are not expected to be the subject of litigation.
Furthermore, RBI has around 8.7 thousand Euro denominated loans to customers outstanding with a total volume of nearly €
360 million and a roughly 9.3 thousand loans have been repaid.
The resulting provision amounted to € 1,956 million (previous year: € 2.071 million), of which € 1,774 million for CHF loans and €
182 million for Euro loans. The total amount of the provision in Poland represents RBI’s best estimate of the future outflow of
economic benefits. In calculating the provision for lawsuits filed in Poland, it is nevertheless necessary to form an opinion on
matters that are inherently uncertain, such as regulatory announcements, the number of future lawsuits, the extent to which
these will be upheld and the impact of legal decisions that may be relevant to the lawsuits received.
Thus a number of risks and uncertainties remain. Consequently the actual costs could differ from RBI’s estimates and the
underlying assumptions. This could result in the need for an additional provision. The main measurable uncertainties
associated with the calculation of the provision relate to a potential reduction in the discount period, a decrease in discount
rates, an increase in the number of total expected lawsuits for outstanding and repaid loans as well as the success rate of out-
of-court settlements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
498 Consolidated financial statements
Sensitivity analysis
The sensitivity analysis refined during the reporting year for potential changes in the actual parameters over the next 12
months, while holding all other parameters constant, is shown in the following two tables, separated by CHF and EUR loans:

CHF-Portfolio 2025 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 1,774 |  |  |
Reduction in discounting period in years (IFRS 9 carrying amount adjustment) | 3,5 years | -1.0 years | 2,5 years | 11
Reduction in discounting period in years (IAS 37 provision) | 20 months | -6 months | 14 months | 7
Decrease in discount rate (IFRS 9 carrying amount adjustment) | 1.1% | - 0.3 PP | 0.8% | 5
Increase in propensity to litigate active loans | 95% | + 1.0 PP | 96% | 12
Increase in average loss coverage on outstanding loans | 145% | + 1.0 PP | 146% | 6
Decrease in discount rate (IAS 37 provision) | 3.7% | - 1.0 PP | 2.7% | 11
Increase in propensity to litigate repaid loans | 43% | + 1.0 PP | 44% | 3
Reduction of number of expected future settlements | 2,497 | - 10.0% | 2,247 | 6
Increase of settlement offer for customers (in % of loss in case of annulment) | 79% | + 5.0 PP | 84% | 11

EUR-Portfolio 2025 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 182 |  |  |
Reduction in discounting period in years (IFRS 9 carrying amount adjustment) | 3,5 years | -1.0 years | 2,5 years | 8
Reduction in discounting period in years (IAS 37 provision) | 20 months | -6 months | 14 months | 0
Decrease in discount rate (IFRS 9 carrying amount adjustment) | 6.0% | - 0.3 PP | 5.7% | 1
Increase in propensity to litigate active loans | 52% | + 1.0 PP | 53% | 2
Increase in average loss coverage on outstanding loans | 93% | + 1.0 PP | 94% | 1
Decrease in discount rate (IAS 37 provision) | 3.7% | - 1.0 PP | 2.7% | 1
Increase in propensity to litigate repaid loans | 15% | + 1.0 PP | 16% | 2

The assumptions are based on internal statistics as well as on market observations. The increase in provision is linear for each
change, with the exception of the discount rate changes which are logarithmic increases. Furthermore, the model does not
take into account changes related to unexpected developments in jurisprudence.
For the fiscal year 2025, the sensitivity analysis was slightly expanded. Firstly, a distinction was made between IFRS 9 carrying
amount adjustment and IAS 37 provision regarding the sensitivity of the discounting period, due to the different discounting
periods. Secondly, the CHF portfolio was supplemented with new sensitivities related to settlement offers, as these were
numerically more significant in 2025. These new sensitivities were not determined for the 2024 comparison period.

CHF-Portfolio 2024 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 1,965 |  |  |
Reduction in discounting period in years | 3,5 years | - 1,0 year | 2,5 years | 27
Decrease in discount rate (IFRS 9 provision) | 2.3% | -0,3 PP | 2.0% | 8
Increase in propensity to litigate active loans | 91.5% | +1,0 PP | 92.5% | 12
Increase in average loss coverage on outstanding loans | 117% | +1,0 PP | 118% | 10
Decrease in discount rate (IAS 37 provision) | 5.3% | -1,0 PP | 4.3% | 9
Increase in propensity to litigate repaid loans | 53% | +1,0 PP | 54% | 4

EUR-Portfolio 2024 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 106 |  |  |
Reduction in discounting period | 3,5 years | - 1,0 year | 2,5 years | 7
Decrease in discount rate (IFRS 9 provision) | 7.2% | -0,3 PP | 6.9% | 1
Increase in propensity to litigate active loans | 32.9% | +1,0 PP | 33.9% | 2
Increase in average loss coverage on outstanding loans | 83% | +1,0 PP | 84% | 2
Decrease in discount rate (IAS 37 provision) | 5.3% | -1,0 PP | 4.3% | 1
Increase in propensity to litigate repaid loans | 35% | +1,0 PP | 36% | 1

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 499
Settlement program
Already in 2023 an out-of- court settlement program based on the proposal by the Chairman of the Polish Financial Supervisory
Authority (KNF) have been launched. The major goal of the settlement program is to limit the expected losses resulting from
the current negative jurisprudence that in most case cancels the mortgage contract. Due to a tepid response to this program,
an improved model was developed in 2024 to enhance acceptance. Instead of recalculating the issued loan contract with
adjusted parameters, the revised settlement program focuses on the repayment amount to customers in the event of
annulment, minus a percentage deduction. In both scenarios, a settlement is achieved. Both cases lead to a write-off of a
portion of the loan balance depending on the individually negotiated settlement offer. The settlements are offered through a
mediation proceeding conducted by the Polish Financial Supervisory Authority.
As at 31/12/2025 RBI made 21,630 individual settlement proposals, out of which 4,541 customers already agreed and in addition
855 customers have signed agreements to enter a mediation process. The bank included in the provisioning calculation the
estimated number of settlements to be signed with customers reflecting the adjusted level of future losses in these settlement
cases. The consideration of settlements in the provision calculation is affected by factors such as the repayment amount and
the development of the ruling practice and the duration of proceedings.
Romania
In May 2023, the Romanian consumer protection authority (ANPC) has disputed the way installments in connection with
consumer loans are computed and claims that repayment schedules with fixed installments, which are composed of a bigger
portion of interest and a lower portion of principal in the early stages of the repayment, are detrimental to consumers and
therefore should be composed of an equal portion of capital and interest. It issued an order to stop such practice but a number
of banks, including RBI’s Romanian network bank Raiffeisen Bank S.A., Bucharest, have obtained a suspension in court of the
application of such ANPC measure. As the meaning of the order is not clear, it is not possible to determine at this point of time
whether there will be any negative financial impact on Raiffeisen Bank S.A., Bucharest and, if yes, the potential damage
involved. However, in case of a mandatory change of repayment schedules, the impact could be significant. In May 2023,
Raiffeisen Bank SA, Bucharest has disputed in court the validity of the “findings” of the ANPC and the court has decided that
the ANPC measure is to be put on hold until there is a final court decision in the dispute against the findings. In June 2025,
Raiffeisen Bank SA, Bucharest won the dispute against the findings. Since this decision is final, the trial regarding the ANPC
order has been resumed.
In June 2024, Raiffeisen Bank SA, Bucharest received another ANPC report which basically also concerns the entire Romanian
banking market and is based on an ANPC investigation on how banks comply with the obligation to provide customers with
sufficient information. Based on the allegation of “deceiving practice” applied by banks, the report requires the banks to take
the following measures: (i) In case of consumer loans with variable interest rates, ANPC is of the opinion that banks should have
applied an interest rate composed of a public index (like ROBOR, EURIBOR, etc.) plus a margin rather than a type of “market
interest rate” (not linked to a public index). Thus, variable interest rates being “market interest rates” would have to be re-
calculated, also retroactively, by deducting the public index valid at the beginning of the first variable interest period from the
initial variable interest rate. The difference would then be applied as a margin over the public index applicable for the
respective variable interest period and the result would constitute the interest rate for such period. Since installments are
composed of payments of interest and principal, all components are subject to re-calculation as if the index plus margin had
been applied from the beginning. (ii) In case of CHF loans, the outstanding principal amounts as well as installments would
have to be re-calculated by converting the CHF exposure into Euro at the exchange rate valid at the date of the respective
credit agreements and by calculating the installments as if the loans had been granted in Euro while still applying the CHF
interest rate. Both measures seem to apply to current loans as well as loans that were repaid in the last six months prior to the
date of the ANPC report (7 June 2024). Raiffeisen Bank SA, Bucharest is of the opinion that it has acted in compliance with legal
requirements and has filed a dispute against the ANPC report. Both measures decided by ANPC are put on hold until there is a
final court decision on the merits of the case. Should the court dismiss the dispute, this would result in repayments to
customers, as a result of the application of the two previously mentioned recalculation measures. In December 2025, Raiffeisen
Bank SA, Bucharest has won the dispute against the ANPC report on the merits. ANPC may challenge this court ruling.
Banking business
RBI and its subsidiaries provide services for corporate customers that increase litigation risk at the operating level. The most
important cases are as follows:
Following the insolvency of Alpine Holding GmbH (Alpine) in 2013, a number of lawsuits were filed by retail investors in Austria
against RBI and another credit institution in connection with a bond which had been issued by Alpine in 2012 in an aggregate
principal amount of € 100 million. The claims asserted against RBI originally amounted to approximately € 10 million. In total,
claims of approximately € 8 million had been filed in court by investors either directly or indirectly through a 'class action' of the
Austrian Federal Chamber for Workers and Employees (Bundeskammer für Arbeiter und Angestellte). Owing to the termination
of some of the proceedings and claim reductions in other proceedings, the value in dispute of the pending court proceedings
against RBI decreased to approximately € 6.3 million. Among other things, it is claimed that the banks acted as joint lead
managers of the bond issue and were or at least should have been aware of financial problems of Alpine at the time of the
issue. Thus, they should have known that Alpine was not in a position to redeem the bonds as set forth in the terms and
conditions of the bonds. It is alleged that the capital market prospectus in relation to the bond issue was misleading and
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
500 Consolidated financial statements
incomplete and that the joint lead managers including RBI, were aware of that fact. In December 2023, in several joint
proceedings the court of first instance issued a partial judgment and dismissed the claims of the investors based on
prospectus liability in the amount of in total approximately € 5.9 million regarding RBI related claims. The judgment of the court
of first instance was confirmed by the court of second instance. The plaintiffs filed an appeal against this decision with the
Austrian Supreme Court (Oberster Gerichtshof) in September 2024. The amount of RBI related claims subject to these appellate
proceedings was reduced from € 5.9 million to € 5.7 million. The OGH rejected the plaintiff's appeal in this class action with its
decision of 23 July 2025. Furthermore, RBI was able to settle a number of other proceedings and receive partial reimbursement
of its legal costs. Following the proceedings settled by the appeal decision of the OGH, the number of all other pending
proceedings has fallen to just two (with a total value in dispute of around € 0.5 million).
In the first quarter of 2021, RBI learned about a claim already filed against it in Jakarta by an Indonesian company in November
2020. The amount of the alleged claim is approximately USD 129 million (€ 110 million) in material damages and USD 200 million
(€ 170 million) in immaterial damages. The claim was served upon RBI in May 2022. On 27 June 2023, the South Jakarta District
Court (Pengadilan Negeri Jakarta Selatan), held that RBI has committed an unlawful act against the Indonesian company and
ordered RBI to pay damages in the amount of USD 119 million (€ 101 million). In view of the facts of the case and the legal
situation, RBI filed an appeal against the judgment with the High Court of Jakarta (Pengadilan Tinggi Jakarta). In March 2024
the High Court of Jakarta ruled in favour of RBI and rejected the claim due to lack of Indonesian jurisdiction. In June 2024, the
plaintiff filed an appeal to the Supreme Court of Indonesia (Mahkamah Agung Republik Indonesia) which was opposed by RBI.
While the South Jakarta District Court's website indicates the dismissal of the appeal, the delivery of this decision by the
Supreme Court of Indonesia to RBI is still pending.
RBI is involved in a dispute with a Cayman Islands Company (Cayman Islands Company) and other parties (including several
subsidiaries of and a director of the Cayman Islands Company) centered on non-payment of guarantees given by the former
parent company of the Cayman Islands Company (Parent Company). In August 2019, RBI began proceedings against the
Cayman Islands Company (and other parties) in the Grand Court of the Cayman Islands, Financial Services Division (the Cayman
Islands Court). In those proceedings, RBI alleges in general terms that through a series of fraudulent transfers (the Fraudulent
Scheme) the Parent Company was stripped of its assets, to frustrate the enforcement of RBI's guarantees. In September 2019,
RBI obtained an order against the Cayman Islands Company, restricting its ability to deal with its assets (the Freezing Order),
pending determination of the proceedings before the Cayman Islands Court. In November 2019, the Cayman Islands Company
filed its defense and counterclaim to the proceedings before the Cayman Islands Court, including a € 203 million counterclaim
against RBI. The Cayman Islands Company's purported counterclaim is founded on documents that the Cayman Islands
Company has, to date, refused to provide. Further defendant parties were added to the proceedings before the Cayman
Islands Court in 2020. In December 2021, the Cayman Islands Court of Appeal refused attempts by the Cayman Islands
Company and other parties to challenge the Freezing Order and the jurisdiction of the Cayman Islands Court. Those attempts
were rejected with costs ordered in RBI's favor. In 2023, RBI amended its claim, added a director of the Cayman Islands
Company (Director) as a party to the proceedings before the Cayman Islands Court, and increased its claim for damages from
approximately € 44 million to approximately € 106 million plus interest and costs. An application by the Director to challenge
jurisdiction and his joinder to the proceedings before the Cayman Islands Court was heard in February 2025 and refused in April
2025, with costs awarded in RBI's favour. The Director’s defense was filed in August 2025. Following a case management
conference in September 2025, a trial has been ordered to commence on the first available date after 2 April 2027. Also in
September 2025, a new party (a subsidiary of the Cayman Islands Company) was added to the proceedings. That party gave
undertakings to the Cayman Islands Court in materially the same form as the Freezing Order and both the Cayman Islands
Company and the new party were ordered to give disclosure of all of their assets with a value above € 3 million, with the
provision of further information to come from the Cayman Islands Company's auditors, to aid in the policing of the Freezing
Order. Other related proceedings have been brought against RBI by parties within the Cayman Islands Company’s group,
including in Malta and British Columbia (Canada). Those proceedings are being defended by RBI. They are for declaratory
relief only, and no damages are claimed.
In February 2025, RBI’s subsidiary Kathrein Privatbank Aktiengesellschaft („Kathrein“) was served with a claim for damages in
the amount of € 50 million as well as an action for declaratory judgment of its liability (valued € 1 million) filed against it with
the Commercial Court, Vienna, in connection with malversations by a former employee of Kathrein. Although Kathrein had
already compensated the plaintiff for the amount originally subject to the malversation, Kathrein could not reach an out-of-
court settlement with the plaintiff regarding the amount of the relating hypothetical loss of profit. Nevertheless, further out-
of-court settlement negotiations are conducted in parallel to the court proceedings. The claimed amount is significantly higher
than the amount determined by calculation of Kathrein, which is also supported by an external legal assessment. Following
Kathrein’s legal assessment, an adequate provision was recognized.
At the end of June 2025, a Russian corporate customer of AO Raiffeisenbank filed a claim for damages in the amount of
approximately € 337.5 million against AO Raiffeisenbank in the Arbitration Court of Moscow. The plaintiff claimed that it had
incurred losses resulting from the failure to sell shares in a German subsidiary operating a production facility in Germany. The
plaintiff alleged that AO Raiffeisenbank, having provided advisory services in respect of the potential sale, was responsible for
such failure. On 2 December 2025, the claimant withdrew its claim against AO Raiffeisenbank and the proceedings were
terminated by the Arbitration Court of Moscow without payment obligations of AO Raiffeisenbank towards the Russian
claimant.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 501
Regulatory enforcement
RBI and its subsidiaries are subject to numerous national and international regulatory authorities.
In March 2018, an administrative fine of € 2.7 million (which was calculated by reference to the annual consolidated turnover of
RBI and constitutes 0.06 per cent of the last available annual consolidated turnover) was imposed on RBI by FMA in the course
of administrative proceedings based on alleged non-compliance with formal documentation requirements relating to the
know-your-customer principle (Initial FMA Decision). According to the interpretation of the Austrian Financial Market Authority
(FMA), RBI had failed to comply with these administrative obligations in a few individual cases. FMA did not allege that any
money laundering or other crime had occurred, or that there was any suspicion of, or any relation to, any criminal act. RBI took
the view that it had duly complied with all due diligence obligations regarding know-your-customer requirements and
appealed against the Initial FMA Decision in its entirety. The Federal Administrative Court (Bundesverwaltungsgericht – BVwG)
confirmed the Initial FMA Decision (First Appellate Decision) and – again- RBI appealed against this decision in its entirety. In
December 2019, the Austrian Supreme Administrative Court (Verwaltungsgerichtshof– VwGH) revoked the First Appellate
Decision and referred the case back to the BVwG. In the retrial on 6 May 2021, the BVwG again confirmed the Initial FMA
Decision in general but reduced the administrative fine down to € 824 thousand and allowed another (second) appeal before
the VwGH (Second Appellate Decision). Such appeal was filed by RBI. In July 2023, the VwGH revoked the Second Appellate
Decision and, again, referred the case back to the BVwG. In the retrial on 25 April 2024, the BVwG again confirmed the Initial
FMA Decision in general but reduced the administrative fine down to € 2 million (from the amount of € 2.7 million imposed by -
the Initial FMA Decision) and allowed another (third) appeal before the VwGH (Third Appellate Decision). Such appeal was filed
by RBI on 7 June 2024. A provision of an appropriate amount has been recognized.
In September 2018, two administrative fines totaling PLN 55 million (€ 13 million) were imposed on Raiffeisen Bank Polska S.A.
(RBPL), the former Polish subsidiary of RBI in the course of administrative proceedings based on alleged non-performance of
duties as the depositary and liquidator of certain investment funds. RBPL as custodian of investment funds assumed the role
of liquidator of certain funds in February 2018. According to the interpretation of the Polish Financial Supervision Authority –
which is known by its Polish abbreviation, KNF – RBPL failed to comply with certain obligations in its function as depository
bank and liquidator of the funds. In the course of the transactions related to the sale of the core banking operations of RBPL to
Bank BGZ BNP Paribas S.A., the responsibility for said administrative proceedings and related fines was assumed by RBI. RBI
filed appeals against these fines in their entirety. In September 2019, in relation to the PLN 5 million (€ 1 million) fine regarding
RBPL’s duties as depositary bank, the Voivodship Administrative Court considered RBI’s appeal and overturned the KNF decision
in its entirety. However, the KNF filed an appeal in cassation against the judgement. In relation to the PLN 50 million (€ 12
million) fine regarding RBPL’s function as liquidator, the Voivodship Administrative Court decided to dismiss the appeal and
uphold the KNF decision in its entirety. RBI has raised appeal in cassation to the Supreme Administrative Court because it takes
the view that RBPL has duly complied with all its duties. In April 2023, the Supreme Administrative Court decided to refer the
case regarding the PLN 5 million (€ 1 million) fine back to the Voivodship Administrative Court for reconsideration. Furthermore,
the Supreme Administrative Court dismissed RBI’s appeal in cassation in connection with the PLN 50 million (€ 12 million) fine
which is now final. However in October 2023 RBI filed a complaint to the European Court of Human Rights over this verdict. In
October 2023, the Voivodship Administrative Court dismissed RBI’s appeal and upheld the KNF decision imposing the PLN 5
million (€ 1 million) penalty on RBI in relation to the alleged violations of RBI's duties as depositary of certain investment funds. A
cassation appeal against this judgment to the Supreme Administrative court was submitted. In February 2025, the Supreme
Administrative Court dismissed RBI’s appeal in cassation in connection with the PLN 5 million (€ 1 million) fine which is now final.
In July 2025, RBI also filed a complaint to the European Court of Human Rights over this verdict. Both fines, i.e. the PLN 5 million
(€ 1 million) fine and the PLN 50 million (€ 12 million) fine, have already been paid.
In this context, several individual lawsuits and four class actions, aggregating claims of holders of certificates in the above-
mentioned investment funds, were filed against RBI, whereby the total amount in dispute as at 31 December 2025 equals
approximately PLN 81 million (€ 19 million). Additionally, RBI was informed that two modifications of a statement of claim had
been submitted to the court which could result in an increase of the total amount in dispute by approximately PLN 93 million (€
22 million). However, the first of such modifications for an amount of approximately PLN 91 million (€ 22 million) has not yet
been served upon RBI. The plaintiffs of the class actions demand the confirmation of RBI’s responsibility for the alleged
improper performance of RBPL (in respect of which RBI is the legal successor) as custodian bank. Such confirmation would
secure and facilitate their financial claims in further lawsuits. Due to RBI’s legal assessment, no provision has been recognized.
Additionally, RBI received a number of claim notices from BNP in connection with certain bank operations in respect of which
BNP is the legal successor to RBPL. Said claim notices primarily relate to administrative proceedings conducted by the KNF
(Polish Financial Supervision Authority) in connection with alleged failures of RBPL/BNP in acting as a depository of investment
funds and could lead to cash penalties. Furthermore, claims in this context have been raised by investors to BNP, and as a
mitigating measure RBI supports BNP in this regard. The financial impact can not be estimated at this time.
In January 2023, RBI was informed by FMA that an administrative proceeding has been started based on the alleged non-
compliance with certain legal requirements regarding the know-your-customer principle in connection with three customers of
RBI’s correspondent banking business. The transactions relevant for the administrative proceedings had been processed by RBI
between 2017 and 2020. According to the interpretation of FMA, RBI had not sufficiently convinced itself that these banks had
appropriate due diligence procedures in place regarding customers of their own correspondent banking business. Thus, in the
view of FMA, RBI failed to fully comply with its administrative obligations in this regard. FMA did not state that any money
laundering or other crime had occurred, or that there was any suspicion of, or any relation to, any criminal act. In June 2024,
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
502 Consolidated financial statements
FMA terminated the administrative proceeding in relation to one bank without a fine, but imposed a fine of € 2.07 million
against RBI in relation to the other two banks. In July 2024 RBI filed an appeal to the Federal Administrative court
(Bundesverwaltungsgericht - BVwG) and, thus the fine is not yet final or legally binding. The BVwG meanwhile has requested
the CJEU to issue a preliminary ruling concerning the involvement and treatment of natural persons acting for a legal entity as
prerequisite for fining said legal entity. The proceeding before the CJEU is currently on-going.
In January 2023, RBI received a Request for Information (RFI) from the Office of Foreign Assets Control (OFAC) of the US
Department of the Treasury. OFAC administers and enforces economic and trade sanctions based on US foreign policy and
national security goals. A breach of US sanctions may, among others, result in fines, the freezing of accounts or the termination
of business relationships with US correspondent banks. The questions raised by OFAC in the RFI seek to clarify payments
business and related processes maintained by RBI with respect to US correspondent banks in light of the developments related
to Russia and Ukraine. RBI has also been cooperating with the U.S. Department of Justice ( DOJ) since March 2023 in connection
with a DOJ inquiry into RBI's compliance with sanctions against Russia. A breach of U.S. criminal law related to sanctions may,
among others, result in fines or the appointment of a monitor. As a matter of principle, RBI maintains policies and procedures
that are designed to ensure compliance with applicable embargoes and financial sanctions and is cooperating fully with OFAC
and DOJ in relation to their requests to the extent permitted by applicable laws and regulations.
Tax litigation
RBI is, or is expected to be, involved in various tax audits, tax reviews and tax proceedings. RBI is involved in the following
significant tax proceedings, among others:
In Romania, tax assessments led to an extraordinary tax burden totalling approximately RON 158 million (€ 31 million) in
additional taxes and approximately RON 105 million (€ 21 million) in penalties. After various proceedings, some still ongoing, this
tax burden has been reduced to RON 235 million (€ 46 million)so far. The tax authority's decision was appealed.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 503
(46) Other agreements
Institutional protection scheme (Raiffeisen-IPS)
Raiffeisen Bank International AG and its Austrian bank subsidiaries, the regional Raiffeisen banks and the local Raiffeisen
banks, are part of the agreement on an institutional protection scheme (Raiffeisen-IPS) as well as the Austrian Raiffeisen-
Sicherungseinrichtung eGen (ÖRS), as a statutory protection scheme.
In the agreement on the Raiffeisen-IPS, the member institutions agree to ensure one another’s security and in particular, join
forces to ensure liquidity and solvency when required. The Raiffeisen-IPS was recognized by the relevant supervisory authorities
(ECB and FMA) as an institutional protection scheme according to Article 113 (7) CRR (Capital Requirements Regulation of the
European Union) and its related rights and obligations of the participating member institutions. This allows, among other
things, for receivables to be risk-weighted at zero per cent between Raiffeisen-IPS members. The Raiffeisen-IPS is subject to
joint regulatory supervision and capital requirements must also be met on a consolidated basis.
The Raiffeisen-IPS was recognized together with ÖRS by the Austrian Financial Market Authority (FMA) as a statutory deposit
guarantee and investor protection scheme according to the Austrian Deposit Guarantee and Investor Protection Act
Einlagensicherungs- und Anlegerentschädigungsgesetz (ESAEG).
ÖRS is mandated to operate the reporting and early risk assessment systems for the Raiffeisen-IPS. ÖRS acts as trustee and
manages the liquid assets for the Raiffeisen-IPS.
The Raiffeisen-IPS is controlled by a joint risk council, comprising representatives of RBI AG, the regional Raiffeisen banks and
the Raiffeisen banks. Tasks that could be solved on a regional level were delegated to the regional risk councils, each
comprising representatives of the respective regional Raiffeisen banks and Raiffeisen banks, by the joint risk council.
Raiffeisen Customer Guarantee Scheme (RKÖ)
RBI AG is a member of Raiffeisen-Kundengarantiegemeinschaft Austria (Raiffeisen Customer Guarantee Scheme Austria (RKÖ).
The members of this association have a contractual obligation to guarantee jointly the punctual fulfillment of the entirety of
an insolvent association member’s commitments arising from customer deposits and its own issues up to the limit of the sum
of the individual capacities of the remaining association members. The individual capacity of an association member is
measured on the basis of its freely available reserves subject to the pertinent provisions of the Austrian Banking Act (BWG).
In view of the change in the legal and regulatory framework and implementation of an institutional protection scheme, the
RKÖ and its respective member institutions decided in 2019 to discontinue the scheme for new transactions. Accordingly, the
supplementary protection by RKÖ may only be granted to protected transactions entered into before 1 October 2019. The
rights of customers with regard to statutory deposit insurance are not affected and remain fully in place.
(47) Fiduciary business pursuant to § 48 (1) of the Austrian Banking Act (BWG)
Transactions arising from the holding and placing of assets on behalf of third parties are not shown in the statement of
financial position. Fees arising from these transactions are shown under net fee and commission income. Fiduciary business
not recognized in the statement of financial position was concluded with the following volumes on the reporting date:

in € million | 2025 | 2024
Fiduciary assets | 161 | 187
Loans to customers | 154 | 180
Financial investments | 7 | 7
Fiduciary liabilities | 161 | 187
Deposits from banks | 63 | 77
Deposits from customers | 91 | 103
Other fiduciary liabilities | 7 | 7

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
504 Consolidated financial statements
Funds managed by the Group:

in € million | 2025 | 2024
Retail investment funds | 38,053 | 34,636
Equity-based and balanced funds | 25,370 | 23,682
Bond-based funds | 11,249 | 9,957
Other | 1,434 | 996
Special funds | 18,299 | 16,712
Property-based funds | 1,064 | 615
Pension funds | 22,015 | 20,358
Customer portfolio managed on a discretionary basis | 4,540 | 3,007
Total | 83,971 | 75,328

(48) Leasing
At inception of a contract, RBI assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the
contract conveys the right to control the use of an identified asset for a certain period in exchange for consideration. To
assess whether a contract conveys the right to control the use of an identified asset, RBI assesses whether the following
criteria are met:
· The contract involves the use of an identified asset – this is the case if either the asset is explicitly specified in the
contract or the asset is implicitly specified at the time that it is made available for use by the customer that is
capable of being used to meet the contract terms. If the supplier has a material substitution right, then the asset is
considered as not identified;
· RBI has the right to obtain substantially all the economic benefit from use of the asset throughout the period of use;
and
· RBI has the right to direct how and for what purpose the asset is used throughout the period of use or the relevant
decisions about how and for what purpose the asset is used are predetermined.
RBI as lessor
When RBI acts as lessor, it determines at lease inception whether the lease is accounted for as finance or operating lease. In
RBI a lease is classified as a finance lease if substantially all the risks and rewards incidental to ownership are transferred.
Typical factors that, individually or in combination, would normally lead to a lease being classified as a finance lease:
· Transfer of ownership of the asset by the end of the contract term;
· Option to purchase the asset at a price that is expected to be sufficiently lower than the fair value at the date the
option becomes exercisable for it to be reasonably certain at the inception date that the option will be exercised;
· The lease term is for major part of the economic life of the asset (even if the title is not transferred);
· At the inception date, the present value of the lease payments equals at least substantially the fair value of the
asset; and
· The asset is of such a specialized nature that only the lessee can use it without major modifications.
Sometimes RBI is an intermediate lessor which means that RBI acts as both the lessee and lessor of the same underlying asset
and accounts for its interest in the main lease and the sublease separately. When the main lease is a short-term lease, the
sublease is classified as an operating lease. Otherwise, RBI assesses the classification of a sublease by reference to the right-
of-use asset in the main lease and not by reference to the underlying asset of the main lease.
RBI recognizes the lease payments associated with the operating lease as income on a straight-line basis over the lease term.
Income from finance and operating leases is as follows:

in € million | 2025 | 2024
Finance lease | 167 | 180
Finance income on the net investment lease | 167 | 180
Operating Lease | 112 | 103
Lease income | 112 | 103
Total | 279 | 283

There is no lease income from variable lease payments that do not depend on an index or a rate.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 505
Finance leases
Assets under finance leases break down as follows; the respective carrying amounts are presented in the statement of
financial position under financial assets – amortized cost:

in € million | 2025 | 2024
Vehicles leasing | 1,814 | 1,740
Real estate leasing | 703 | 769
Equipment leasing | 659 | 617
Total | 3,176 | 3,126

Maturity analysis of lease receivables to be received after the reporting date:

in € million | 2025 | 2024
Gross investment value | 3,588 | 3,588
Minimum lease payments | 3,276 | 3,270
Up to 3 months | 267 | 258
More than 3 months, up to 1 year | 659 | 660
More than 1 year, up to 5 years | 1,920 | 1,890
More than 5 years | 429 | 462
Non-guaranteed residual value | 313 | 319
Unearned finance income | 412 | 462
Up to 3 months | 35 | 37
More than 3 months, up to 1 year | 95 | 101
More than 1 year, up to 5 years | 219 | 244
More than 5 years | 63 | 80
Net investment value | 3,176 | 3,126

In the financial year, there was no income relating to variable lease payments not included in the measurement of the net
investment in the lease. Profit due to sale of leased assets as part of a finance lease was € 3 million (previous year: € 3 million).
Operating leases
Assets under operating leases (including unleased parts) break down as follows; the respective carrying amounts are presented
in the statement of financial position under tangible fixed assets:

in € million | 2025 | 2024
Vehicles leasing | 154 | 114
Real estate leasing | 136 | 187
Equipment leasing | 0 | 0
Total | 290 | 301

Maturity analysis of undiscounted lease receivables to be received after the reporting date:

in € million | 2024 | 2023
Up to 1 year | 55 | 50
More than 1 year, up to 5 years | 101 | 106
More than 5 years | 8 | 28
Total | 165 | 184

RBI as lessee
RBI recognizes a right-of-use asset and a lease liability at the lease commencement date which is the date on which a lessor (a
supplier) makes an underlying asset available for use by RBI. The right-of-use asset is measured at cost at the commencement
date. The cost of the right-of-use asset comprises the amount equal to the lease liability at its initial recognition adjusted for
any lease payments made at or before the commencement of the lease plus any initial direct costs incurred and an estimate
of costs to dismantle and remove the underlying asset, or to restore the underlying asset or the site on which it is located, less
any lease incentives.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
506 Consolidated financial statements
The right-of-use asset is subsequently depreciated using the straight-line method in accordance with IAS 16 from the
commencement date to the earlier of the end of the useful life or the end of the lease term of the right-of-use asset. The
right-of use asset is reduced by impairments, if any, and adjusted for certain remeasurements of the lease liability.
At the commencement date, RBI measures the lease liability at the present value of the lease payments that are not paid at
that date. The lease payments shall be discounted using the interest rate implicit in the lease if that rate can be readily
determined. If that rate cannot be readily determined, the lessee shall use the incremental borrowing rate.
The lease payments included in the measurement of the lease liability comprise the following:
· Fixed payments including in-substance fixed payments;
· Variable lease payments that depend on an index or rate, initially measured using the index or rate as at the
commencement date;
· Amounts expected to be payable by the lessee under residual value guarantees;
· The exercise price of a purchase option if RBI is reasonably certain to exercise that option; and
· Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to
terminate the lease.
The lease liability is measured on an ongoing basis similarly to other financial liabilities, using an effective interest method, so
that the carrying amount of the lease liability is measured on an amortized cost basis and the interest expense is allocated
over the lease term. It is remeasured when there is a change in future lease payments arising from a change in an index or
rate, if there is a change in the RBI’s estimate of the amount expected to be payable under a residual value guarantee, or if RBI
changes its assessment of whether it will exercise a purchase, extension, or termination option. When the lease liability is
remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in
profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
RBI has elected not to recognize right-of-use assets and lease liabilities for short-term leases of equipment that have a lease
term of twelve months or less and leases of low-value assets, including IT equipment. RBI recognizes the lease payments
associated with these leases as an expense on a straight-line basis over the lease term.
Leases mainly relate to land and buildings, vehicles, and IT equipment.
Right-of-use assets
The following table shows the development of right-of-use assets for property, plant and equipment, which are presented in
the statement of financial position under tangible fixed assets, and related accumulated depreciation, which is presented in
profit or loss under general administrative expenses:

in € million | 2025 | 2024
Cost of acquisition or conversion as at 1/1 | 739 | 674
Change in consolidated group | 8 | 20
Exchange differences | 18 | (16)
Additions | 83 | 89
Disposals | (35) | (26)
Transfers | 0 | (1)
Cost of acquisition or conversion as at 31/12 | 813 | 740
Accumulated write-ups/depreciation/impairment | (435) | (367)
hereof depreciation/impairment | (79) | (79)
Caryying amount as at 31/12 | 378 | 372

Lease liabilities
The following table shows the maturity analysis of lease liabilities, showing the undiscounted lease payments to be paid after
the reporting date; the respective carrying amounts are presented under financial assets – amortized cost:

in € million | 2025 | 2024
Up to 1 year | 85 | 81
More than 1 year, up to 5 years | 231 | 224
More than 5 years | 91 | 90
Total | 407 | 396

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 507
Amounts recognized in profit or loss
Interest on lease liabilities is presented in profit or loss under net interest income and expenses relating to short-term leases
and leases of low-value assets are presented in other administrative expenses.

in € million | 2025 | 2024
Interest on lease liabilities | (12) | (11)
Variable lease payments not included in the measurement of lease liabilities | 0 | 0
Income from sub-leasing right-of-use assets | 0 | 0
Expenses relating to short-term leases | (15) | (16)
Expenses relating to leases of low-value assets | (5) | (5)
Total | (32) | (32)

(49) Key figures pursuant to § 64 (1) 18 of the Austrian Banking Act (BWG)

2025 | Operating income | hereof net interest income | Profit/loss before tax | Income taxes | Number of employees as at reporting date
in € million
Czech Republic | 929 | 671 | 486 | (77) | 3,807
Hungary | 670 | 420 | 268 | (42) | 3,016
Poland | 42 | 19 | (325) | 0 | 330
Slovakia | 775 | 539 | 391 | (128) | 3,546
Central Europe | 2,414 | 1,650 | 820 | (247) | 10,699
Albania | 167 | 132 | 91 | (14) | 1,354
Bosnia and Herzegovina | 155 | 87 | 74 | (6) | 1,327
Croatia | 272 | 193 | 110 | (22) | 1,741
Kosovo | 94 | 71 | 35 | (3) | 885
Romania | 905 | 644 | 431 | (82) | 4,801
Serbia | 434 | 272 | 291 | (39) | 2,156
Southeastern Europe | 2,026 | 1,399 | 1,032 | (167) | 12,264
Russia | 2,674 | 1,690 | 406 | (492) | 8,522
Eastern Europe | 2,674 | 1,690 | 406 | (492) | 8,522
Ukraine | 478 | 401 | 307 | (77) | 5,078
Austria and other | 3,067 | 735 | 1,425 | (27) | 5,862
Reconciliation | (1,564) | (1) | (1,356) | (2) | 0
Total | 9,097 | 5,874 | 2,634 | (1,013) | 42,425

2024 | Operating income | hereof net interest income | Profit/loss before tax | Income taxes | Number of employees as at reporting date
in € million
Czech Republic | 831 | 622 | 415 | (62) | 3,667
Hungary | 697 | 472 | 344 | (47) | 2,502
Poland | 55 | 33 | (677) | 0 | 342
Slovakia | 711 | 480 | 379 | (135) | 3,558
Central Europe | 2,293 | 1,606 | 461 | (245) | 10,069
Albania | 163 | 131 | 90 | (13) | 1,294
Bosnia and Herzegovina | 152 | 88 | 81 | (7) | 1,333
Croatia | 271 | 186 | 117 | (21) | 1,771
Kosovo | 96 | 71 | 45 | (5) | 937
Romania | 820 | 619 | 412 | (75) | 5,034
Serbia | 436 | 295 | 293 | (41) | 2,121
Southeastern Europe | 1,939 | 1,392 | 1,037 | (162) | 12,490
Russia | 2,471 | 1,623 | 1,272 | (399) | 8,863
Eastern Europe | 2,471 | 1,623 | 1,272 | (399) | 8,863
Ukraine | 477 | 391 | 212 | (115) | 5,251
Austria and other | 2,838 | 765 | 1,090 | (31) | 5,891
Reconciliation | (1,317) | 3 | (1,088) | (1) | 0
Total | 8,701 | 5,779 | 2,984 | (953) | 42,564

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
508 Consolidated financial statements
(50) Foreign currency volumes pursuant to § 64 (1) 2 of the Austrian Banking
Act (BWG)

in € million | 2025 | 2024
Assets | 93,170 | 88,901
Equity and liabilities | 75,158 | 71,431

(51) Volume of the securities trading book pursuant to § 64 (1) 15 of the
Austrian Banking Act (BWG)

in € million | 2025 | 2024
Securities | 12,034 | 8,720
Other financial instruments | 198,648 | 197,356
Total | 210,683 | 206,076

(52) Securities admitted for trading on a stock exchange pursuant to § 64 (1)
10 of the Austrian Banking Act (BWG)

in € million | 2025 | 2024
Listed | Unlisted | Listed | Unlisted
Debt securities and other fixed-income securities | 36,933 | 751 | 28,753 | 574
Shares and other variable-yield securities | 460 | 0 | 340 | 0
Investments | 17 | 133 | 13 | 126
Total | 37,410 | 885 | 29,106 | 700

(53) Subordinated assets pursuant to § 45 (2) of the Austrian Banking Act
(BWG)

in € million | 2025 | 2024
Loans and advances | 5 | 27
Debt securities | 366 | 67
Total | 371 | 94

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 509
(54) Employees

Full-time equivalents | 2025 | 2024 1
Average number of staff | 42,732 | 43,088
hereof salaried employees | 42,592 | 42,925
hereof wage earners | 140 | 163
Employees as at reporting date | 42,425 | 42,564
hereof Austria | 5,048 | 5,071
hereof abroad | 37,377 | 37,493
1 Previous-period figures adapted due to changed allocation |  |

(55) Related parties
The main companies exercising a significant influence are Raiffeisenlandesbank Niederösterreich-Wien AG, Vienna, as the
largest single shareholder, its parent company, Raiffeisen-Holding Niederösterreich-Wien registrierte Genossenschaft mit
beschränkter Haftung, Vienna, and their fully consolidated subsidiaries. The amounts shown under affiliated companies relate
to affiliated companies that are not consolidated due to immateriality.
Transactions with related parties (companies and individuals) are limited to banking business transactions that are carried out
at fair market conditions. Moreover, members of the Management Board hold shares in RBI AG. Detailed information regarding
this is published on the homepage of Raiffeisen Bank International.

2025 | Companies with significant influence | Affiliated companies | Investments in associates valued at equity
in € million
Selected financial assets | 90 | 477 | 1,091
Equity instruments | 0 | 222 | 721
Debt securities | 62 | 0 | 110
Loans and advances | 28 | 254 | 259
Selected financial liabilities | 2,384 | 207 | 4,718
Deposits | 2,384 | 207 | 4,717
Debt securities issued | 0 | 0 | 1
Other items | 115 | 159 | 515
Loan commitments, financial guarantees and other commitments given | 83 | 159 | 504
Loan commitments, financial guarantees and other commitments received | 31 | 0 | 11
Nominal amount of derivatives | 174 | 0 | 1,054
Accumulated impairment, accumulated negative changes in fair value due to credit risk and provisions on non-performing exposures | 0 | (2) | 0

2024 | Companies with significant influence | Affiliated companies | Investments in associates valued at equity
in € million
Selected financial assets | 88 | 428 | 1,006
Equity instruments | 1 | 206 | 665
Debt securities | 42 | 0 | 84
Loans and advances | 45 | 222 | 257
Selected financial liabilities | 2,285 | 153 | 5,117
Deposits | 2,285 | 153 | 5,116
Debt securities issued | 0 | 0 | 1
Other items | 87 | 24 | 545
Loan commitments, financial guarantees and other commitments given | 64 | 24 | 523
Loan commitments, financial guarantees and other commitments received | 23 | 0 | 22
Nominal amount of derivatives | 91 | 0 | 205
Accumulated impairment, accumulated negative changes in fair value due to credit risk and provisions on non-performing exposures | 0 | (3) | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
510 Consolidated financial statements

2025 | Companies with significant influence | Affiliated companies | Investments in associates valued at equity
in € million
Interest income | 2 | 10 | 15
Interest expenses | (49) | (4) | (107)
Dividend income | 0 | 16 | 40
Fee and commission income | 2 | 20 | 18
Fee and commission expenses | (1) | (1) | (21)
Increase/decrease in impairment, fair value changes due to credit risk and provisions for non-performing exposures | 0 | (5) | 7

2024 | Companies with significant influence | Affiliated companies | Investments in associates valued at equity
in € million
Interest income | 1 | 9 | 14
Interest expenses | (83) | (4) | (156)
Dividend income | 0 | 14 | 33
Fee and commission income | 4 | 37 | 13
Fee and commission expenses | (3) | (3) | (13)
Increase/decrease in impairment, fair value changes due to credit risk and provisions for non-performing exposures | 0 | 0 | (3)

(56) Relations to key management
Group relationship with key management
Key management refers to the members of the Management Board and the Supervisory Board of RBI AG. As of December 31,
the members of the Management and Supervisory Board held issued bonds from RBI totalling € 1,911 thousand (previous year: €
1,554 thousand) as well as shares in RBI AG and affiliated companies valued at € 6,533 thousand (previous year: € 3,516
thousand). The deposits of the members of the Management and Supervisory Board amounted to € 1,207 thousand (previous
year: € 641 thousand), and the total of granted loans (including home saving loans) and financial leasing was € 184 thousand
(previous year: € 217 thousand).
In the course of banking transactions with the members of the Management and Supervisory Board, interest and dividend
income of € 203 thousand (previous year: € 111 thousand) was earned, while interest expenses amounted to € 0 thousand
(previous year: € 0 thousand).
Transactions with other related persons and companies
Transactions with other related persons and companies refer to family relatives of the members of the Management and
Supervisory Board of RBI AG, as well as controlled or significantly influenced companies. As of December 31, issued bonds from
RBI totalling to € 0 thousand (previous year: € 54 thousand) and shares in RBI AG valued at € 123 thousand (previous year: € 4
thousand). Deposits of other related persons and companies amounted to € 674 thousand (previous year: € 1,140 thousand),
and the total of granted loans (including home saving loans) and financial leasing was € 0 thousand (previous year: € 3
thousand).
In the course of banking transactions with other related persons and companies, interest and dividend income of € 3 thousand
(previous year: € 3 thousand) was earned, while interest expenses amounted to € 0 thousand (previous year: € 0 thousand).
There is no compensation agreed between the company and members of the Management Board and Supervisory Board or
employees in the case of a takeover bid.
Remuneration of members of the Management Board, Supervisory Board and Advisory
Council
The expenses according to IAS 24 were recognized on an accrual basis and according to the rules of the underlying standard
(IAS 19).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 511

| 2025 | 2024
in € thousand | Management Board | Supervisory Board | Advisory Council | Management Board | Supervisory Board | Advisory Council
Short-term employee benefits | 6,859 | 1,489 | 201 | 7,057 | 1,397 | 193
Post-employment benefits | 418 | — | — | 411 | — | —
Other long-term benefits | 6,450 | — | — | 4,807 | — | —
Total | 13,728 | 1,489 | 201 | 12,275 | 1,397 | 193

The short-term employee benefits for the Management Board shown in the above table contain salaries and benefits in kind
and other benefits, remuneration for board functions at affiliated companies and those portions of the bonus provision that
are due in the short term. Furthermore, it also includes changes possibly arising from the difference between the bonus
provision and the bonus later awarded. Post-employment benefits comprise payments to pension funds and payments
according to the Retirement Plan Act (Mitarbeitervorsorgegesetz), severance payments, vacation compensations as well as net
allocations to provisions for retirement benefits and severance payments.
The short-term employee benefits for the Supervisory Board and Advisory Council show the amounts of a remuneration model.
Further information can be found in the Annual Report in the chapter Corporate Governance Report as well as on the RBI
website (www.rbinternational.com → Investors → Corporate Governance & Remuneration). The current remuneration policy is
available on the RBI website (www.rbinternational.com → Corporate Governance & Remuneration → Remuneration Policy).
In the 2025 financial year, no contacts subject to approval within the meaning of § 95 (5) 12 of the Austrian Stock Corporation
Act (AktG) were concluded with members of the Supervisory Board.
Other long-term benefits contain portions of the bonus provision relating to deferred bonus portions in cash and retained
portions payable in instruments. For the latter, valuation changes due to currency fluctuations are also considered.
The bonus agreement is linked to the achievement of annually agreed objectives. The respective step-in criteria as well as the
individual performance targets can be found in the current remuneration policy (www.rbinternational.com → Corporate
Governance & Remuneration → Remuneration Policy).
The bonus level is determined by the level of the return on equity and the cost/income ratio, whereby the target values to be
achieved reflect the so-called strategic targets for the return on equity and the cost/income ratio at RBI level.
Members of the Management Board are subject in principle to the same regulations as apply to employees. These regulations
provide for a basic contribution to a pension fund from the company and an additional contribution if the employee pays own
contributions of the same amount.
In the event of termination of function or employment contract and leaving of the company, the members of the Management
Board have entitlements under the Company Retirement Plan Act (Betriebliches Mitarbeitervorsorgegesetz). The entitlement to
receive severance payments according to contractual agreements lapses in the case of termination by the employee.
Moreover, there is an individual pension commitment through a pension fund which is secured by reinsurance. The
Management Board members’ contracts either run for the duration of their term of office or are limited to a maximum of five
years. In the event of early termination of a Management Board member’s contract without good cause, the severance
payment is limited to a maximum of two years’ total annual remuneration (except for one member of the Management Board
covered by previous contractual arrangements).
An amount of € 1,601 thousand (2024: € 1,610 thousand) was paid in pension benefits to former members of the Management
Board and to their surviving dependents in the 2025 financial year. In addition to these amounts, short-term benefits and
deferred bonus components as well as severance payments totaling € 448 thousand (2024: € 813 thousand) were paid to
former members of the Management Board.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
512 Consolidated financial statements
(57) Boards
Management Board

Members of the Management Board | Initial appointment | End of term
Johann Strobl, Chairman | 10 October 2010 | 30 June 2026
Marie-Valerie Brunner | 1 November 2023 | 31 October 2026
Andreas Gschwenter | 1 July 2015 | 30 June 2029
Łukasz Januszewski | 1 March 2018 | 30 April 2025
Kamila Makhmudova | 1 January 2026 | 31 December 2028
Hannes Mösenbacher | 18 March 2017 | 28 February 2030
Andrii Stepanenko | 1 March 2018 | 28 February 2026

The Supervisory Board resolved to realign the allocation of responsibilities within the Management Board and appointed two
new members to the Management Board in October 2025. The CFO function will once again form a separate Management
Board division and will be assumed by Kamila Makhmudova effective 1 January 2026. The new Management Board member for
CIB Products & Solutions will be Rainer Schnabl, who will succeed Łukasz Januszewski on 1 March 2026. Furthermore, the
Supervisory Board has decided to appoint Michael Höllerer as the new CEO effective 1 July 2026 as well as to extend the term
of office of Andreas Gschwenter until 30 June 2029. The management of the Retail division will be carried out by the CEO after
the conclusion of Andrii Stepanenko’s Management Board mandate on 28 February 2026.
.
Supervisory Board

Supervisory Board members | Initial appointment | End of term
Erwin Hameseder, Chairman | 10 October 2010 | Annual General Meeting 2030
Martin Schaller, 1st Deputy Chairman | 4 June 2014 | Annual General Meeting 2029
Reinhard Schwendtbauer, 2nd Deputy Chairman | 26 March 2025 | Annual General Meeting 2030
Heinrich Schaller, 2nd Deputy Chairman 1 | 20 June 2012 | Annual General Meeting 2025
Michael Alge | 31 March 2022 | Annual General Meeting 2027
Eva Eberhartinger | 22 June 2017 | Annual General Meeting 2027
Andrea Gaal | 21 June 2018 | Annual General Meeting 2028
Michael Höllerer | 31 March 2022 | Annual General Meeting 2026
Rudolf Könighofer | 22 June 2017 | Annual General Meeting 2027
Heinz Konrad | 20 October 2020 | Annual General Meeting 2030
Reinhard Mayr 1 | 20 October 2020 | Annual General Meeting 2025
Birgit Noggler | 22 June 2017 | Annual General Meeting 2027
Christof Splechtna | 26 March 2025 | Annual General Meeting 2030
Manfred Wilhelmer | 21 November 2023 | Annual General Meeting 2028
Natalie Egger-Grunicke 2 | 18 February 2016 | Until further notice
Peter Anzeletti-Reikl 2 | 10 October 2010 | Until further notice
Rudolf Kortenhof 2 | 10 October 2010 | Until further notice
Gebhard Muster 2 | 22 June 2017 | Until further notice
Helge Rechberger 2 | 10 October 2010 | Until further notice
Denise Simek 2 | 1 October 2021 | Until further notice
1 Resigned with the Annual General Meeting 2025 |  |
2 Delegated by the Staff Council |  |

State Commissioners
· Johann Kinast, State Commissioner (since 1 June 2024)
· Matthias Falkensteiner-Kudweis, Deputy State Commissioner (since 1 April 2021)
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 513
(58) Group composition
Subsidiaries
All material subsidiaries over which RBI AG directly or indirectly has control are fully consolidated. The Group has control over
an entity when it is exposed, or has rights, to variable returns from its involvement with the investee and the ability to affect
those returns through its power over the investee. Investments in subsidiaries that are not fully consolidated are shown under
the item investments in subsidiaries and associates.
If voting rights are relevant, the Group has control over an entity in which it directly or indirectly holds more than 50 per cent of
the voting rights; except when there are indicators that another investee has the ability to determine unilaterally the relevant
activities of the entity. One or more of the following points may be such an indicator:
· Another investor has control over more than half of the voting rights due to an agreement with the Group,
· Another investor has the ability to control financial policy and operational activities of the equity participation due
to legal provisions or an agreement,
· Another investor has control over the equity participation due to its possibility to appoint and withdraw the majority
of members of the Board or members of an equivalent governing body,
· Another investor has control over the entity due to its possibility to possess the majority of the delivered voting
rights in a meeting of members of the Board or of members an equivalent governing body.
When judging control, also potential voting rights are considered as far as they are material.
The Group assesses evidence of control in cases in which it does not hold the majority of voting rights but has the ability to
unilaterally govern the relevant activities of the entity. This ability may occur in cases in which the Group has the ability to
control the relevant activities due to the extent and distribution of voting rights of the investees.
Same as to subsidiaries, consolidation of structured entities is necessary, if the Group has control over the entity. Structured
entities are characterized by the fact that voting rights or similar rights are not the dominant factor for determining control.
To determine control over such entities, the group examines a series of control factors, which are reviewed if an event occurs
or at least quarterly.
In principle, subsidiaries are initially integrated into the consolidated group on the date when the Group obtains direct or
indirect control and are excluded from the consolidated group from the date on when it no longer has control over the
company. The results from subsidiaries acquired or disposed of during the year are recorded in the consolidated income
statement, either from the assumption of control or up to the loss of control. During the initial consolidation of previously not
included controlled subsidiaries due to their immateriality, changes in the value of individual assets and liabilities between the
date of acquisition or foundation and the initial consolidation as well as profits/losses generated in this period of the
subsidiary in question are taken into account directly in equity. These modifications are reported in the other changes. The
Group reviews the adequacy of previous decisions on which companies to consolidate at least every quarter. Accordingly, any
organizational changes are immediately considered. Apart from changes in ownership, these also include any changes to the
Group’s existing contractual arrangements or new contractual arrangements with a unit.
Non-controlling interests are shown in the consolidated statement of financial position as part of equity, but separately from
RBI AG's equity. The profit attributable to non-controlling interests is shown separately in the consolidated income statement.
In debt consolidation, intra-group loans and liabilities are eliminated. Remaining temporary differences are recognized under
the item other assets or other liabilities in the consolidated statement of financial position.
Intra-group income and expenses are also eliminated and temporary differences resulting from bank business transactions are
included partly in net interest income and partly in net trading income. Other differences are shown in the item other net
operating income.
Intra-group results are eliminated insofar as they have a material effect on the income statement items. Transactions
between Group members are executed principally at market conditions.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
514 Consolidated financial statements
Changes in the Group’s ownership interests in existing subsidiaries
If, in the case of existing control, further shares are acquired or sold without loss of control, in subsequent consolidation such
transactions are recognized directly in equity. The carrying amount of the shares held by the Group and the non-controlling
interests are adjusted in such a way as to reflect changes in existing shareholdings in subsidiaries. Any difference between the
amount which is adjusted for the non-controlling interests and the fair value of the consideration paid or received is
recognized directly in equity and is assigned to the shareholders of the parent company.
If the company loses control over a subsidiary, the income/loss from disposal of group assets is shown in the income
statement. This is calculated as the difference between
· the total amount of fair value of the received consideration and fair value of the shares retained and
· the carrying amount of assets (including goodwill), liabilities of the subsidiary and all non-controlling interests.
All amounts related to these subsidiaries and shown in other comprehensive income are recognized in the same way as would
be the case for the sale of assets. This means the amounts are reclassified to the income statement or directly transferred to
retained earnings.
Associated companies
An associated company is an entity over which the Group has significant influence. Significant influence is the power to
participate in the financial and operating policy decisions of an entity in which shares are held. No control or joint management
of decision-making processes exists. As a rule, significant influence is assumed if the Group holds 20 to 50 per cent of the
voting rights. When judging whether the Group has the ability to exert a significant influence on another entity, the existence
and the effect of potential voting rights which are actually exercisable, or convertible are taken into account. Further
parameters for judging significant influence are, for example, the representation in executive committees and supervisory
boards (Supervisory Board in Austrian Joint Stock companies) of the entity and material business transactions with the entity.
Investments in material associated companies are valued at equity and shown in the statement of financial position under the
item investments in subsidiaries and associates under the sub-item investments in associates valued at equity.
The acquisition cost of these investments including goodwill is determined at the time of their initial consolidation, applying by
analogy the same rules as for subsidiaries (offsetting acquisition costs against proportional fair net asset value). If associated
companies are material, appropriate adjustments are made to the equity carrying amount, in accordance with developments
in the company’s equity. Profit or losses of companies valued at equity are netted and recognized in the item current income
from investments in associates. Losses attributable to companies accounted for using the equity method are only recognized
up to the level of the equity carrying amount. Losses in excess of this amount are not recognized since there is no obligation to
offset excess losses. Furthermore, any amounts recognized by the associate through other comprehensive income will be
recognized in the other comprehensive income statement of RBI. This is especially relevant for valuation effects seen from
financial assets at fair value through other comprehensive income (FVOCI). At each reporting date, the Group reviews to what
extent there is objective evidence for impairment of an equity participation in an associated company. If there is objective
evidence of impairment, an impairment test is carried out, in which the recoverable value of the participation – this is higher of
the value in use and the fair value less selling costs – is compared to the carrying amount. An impairment made in previous
periods is reversed only if the assumptions underlying the determination of the recoverable value have been changed since
recognition of the last impairment. In this case the carrying amount is written up to the higher recoverable value.
Business combinations
The acquisition of business operations is recognized according to the acquisition method. The consideration transferred in a
business combination is measured at fair value. This is calculated as the aggregate of the acquisition-date fair values of all
assets transferred, liabilities assumed from former owners of the acquired business combination and equity instruments
issued by the Group in exchange for control of the business combination. Transaction costs related to business combinations
are recognized in the income statement when incurred.
Goodwill is measured as the excess of the aggregate of the value of the consideration transferred, the amount of any non-
controlling interest and the acquisition-date fair value of the acquirer’s previously held equity interest in the acquiree (if any),
and the net of the acquisition-date amounts of the fair values of identifiable assets acquired and the liabilities assumed. In the
case that the difference is negative after further review, the resulting gain is recognized immediately in the income statement.
Non-controlling interests which confer ownership rights and grant the right to the owner to receive a proportionate share of
the net assets of the entity in the event of liquidation, are measured either at fair value or at the non-controlling interest’s
proportionate share of net assets of the acquiree at the acquisition date. This accounting policy option can be newly made for
every business combination. Other components of non-controlling interests are measured at fair value or with measurement
values derived from other standards.
If the consideration transferred includes a contingent consideration, this is measured at the acquisition-date fair value. If the
contingent consideration is classified as equity, it is not re-measured on the following reporting dates. Its settlement is
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 515
recognized within equity. A contingent consideration classified as assets or liabilities is measured on the following reporting
dates at fair value and a resulting profit or loss is recognized in the income statement.
Adjustments to the measurement or additional recognition of further assets and liabilities to reflect information about facts
and circumstances which already existed at the time of acquisition are corrected retrospectively within the measurement
period and posted accordingly against goodwill. The measurement period may not exceed one year from the date of
acquisition.
Consolidated subsidiaries where RBI holds less than 50 per cent of the ordinary voting
shares
Subsidiaries in which the Group holds less than half of the voting rights are fully consolidated if RBI has effective control
according to the criteria of IFRS 10. This involves examining whether the Group is exposed or has rights to variable returns from
its involvement in the investee and has the ability to affect those returns through its power over the investee.
Structured units have been designed in such a way that voting rights or other similar rights are not the dominant factor in
establishing control of a company.
The Group has several leasing companies in the legal form of a GmbH & Co KG, in which a Group company assumes the role of
general partner. Through this structure, the Group assumes the requisite personal liability which qualifies as exposure to the
variability of the returns generated by the structured companies. These companies are included in the list of fully consolidated
affiliated companies.
Subsidiaries not fully consolidated where RBI holds more than 50 per cent of the
ordinary voting shares
Due to their negligible contribution to the Group’s assets, earnings, and financial position, 247 subsidiaries were not included in
the consolidated financial statements (previous year: 262). Total assets of the companies not included came to less than 1 per
cent of the Group’s total assets.
List of fully consolidated affiliated companies

Company, domicile (country) | Subscribed capital 1 | in local currency | Share 1 | Type 2
"Raiffeisen-Rent" Vermögensberatung und Treuhand Gesellschaft m.b.H., Vienna (AT) | 364,000 | EUR | 100.0% | FI
Abura Immobilienleasing GmbH & Co. Projekt Seniorenhaus Boppard KG, Kriftel (DE) | 5,000 | EUR | 6.0% | FI
Achat Immobilien GmbH & Co. Projekt Hochtaunus-Stift KG, Kriftel (DE) | 10,000 | EUR | 1.0% | FI
Acridin Immobilienleasing GmbH & Co. Projekt Marienfeld KG, Kriftel (DE) | 5,000 | EUR | 100.0% | FI
Adagium Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Adamas Immobilienleasing GmbH & Co. Projekt Pflegeheim Werdau KG, Kriftel (DE) | 5,000 | EUR | 100.0% | FI
Adorant Immobilienleasing GmbH & Co. Projekt Heilsbronn und Neuendettelsau KG, Kriftel (DE) | 5,000 | EUR | 6.0% | OT
Ados Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 75.0% | FI
Adrittura Immobilienleasing GmbH & Co. Projekt Eiching KG, Kriftel (DE) | 5,000 | EUR | 100.0% | OT
Agamemnon Immobilienleasing GmbH & Co. Projekt Pflegeheim Freiberg KG, Kriftel (DE) | 5,000 | EUR | 100.0% | FI
Akcenta CZ a.s., Prague (CZ) | 100,125,000 | CZK | 92.5% | FI
AKRISIOS Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
AL Taunussteiner Grundstücks-GmbH & Co KG, Kriftel (DE) | 9,400 | EUR | 93.6% | FI
A-Leasing SpA, Treviso (IT) | 68,410,000 | EUR | 100.0% | FI
Allgäu Reha Immobilienleasing GmbH, Kriftel (DE) | 25,000 | EUR | 75.0% | FI
AMYKOS RBI Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
Anton Proksch Institut Kalksburg RBI Immobilien Leasing GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | BR
AO Raiffeisenbank, Moscow (RU) | 36,711,260,000 | RUB | 100.0% | BA
ARCANA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
A-Real Estate S.p.A., Bozen (IT) | 390,000 | EUR | 100.0% | FI
ASCENT Pflege Hettstedt Immobilienleasing GmbH, Kriftel (DE) | 25,000 | EUR | 75.0% | FI
Austria Leasing Beteiligungsgesellschaft mbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Austria Leasing GmbH, Eschborn (DE) | 1,000,000 | EUR | 100.0% | FI
B52 RBI Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | BR
Bafep21 RBI Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | OT
BAILE Handels- und Beteiligungsgesellschaft m.b.H., Vienna (AT) | 40,000 | EUR | 100.0% | FI
Baumgartner Höhe RBI Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
Burgenländische Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 35,000 | EUR | 100.0% | FI
Campus ATZ + DOS RBI Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | OT
Campus NBhf RBI Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | OT

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
516 Consolidated financial statements

Company, domicile (country) | Subscribed capital 1 | in local currency | Share 1 | Type 2
Canopa Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Centralised Raiffeisen International Services & Payments S.R.L., Bucharest (RO) | 2,820,000 | RON | 100.0% | BR
CERES Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
CINOVA RBI Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
CP Inlandsimmobilien-Holding GmbH, Vienna (AT) | 364,000 | EUR | 100.0% | OT
Elevator Ventures Beteiligungs GmbH, Vienna (AT) | 100,000 | EUR | 100.0% | FI
ETEOKLES Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Expo 2000 Real Estate EOOD, Sofia (BG) | 10,000 | BGN | 100.0% | OT
FCC Office Building SRL, Bucharest (RO) | 30,298,500 | RON | 100.0% | OT
Floreasca City Center Verwaltung Kft., Budapest (HU) | 44,000 | HUF | 100.0% | OT
FMK Fachmarktcenter Kohlbruck Betriebs GmbH, Eschborn (DE) | 30,678 | EUR | 94.5% | OT
FMZ PRIMUS Ingatlanfejlesztö Kft., Budapest (HU) | 11,077 | EUR | 100.0% | OT
GENO Leasing Ges.m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
GTNMS RBI Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | OT
HABITO Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
INFRA MI 1 Immobilien Gesellschaft mbH, Vienna (AT) | 72,673 | EUR | 100.0% | OT
Infrastruktur Heilbad Sauerbrunn RBI-Leasing GmbH & Co.KG., Bad Sauerbrunn (AT) | 3,511,188 | EUR | 75.0% | FI
Invest Vermögensverwaltungs-GmbH, Vienna (AT) | 73,000 | EUR | 100.0% | OT
Kathrein Privatbank Aktiengesellschaft, Vienna (AT) | 20,000,000 | EUR | 100.0% | BA
KAURI Handels und Beteiligungs GmbH, Vienna (AT) | 50,000 | EUR | 88.0% | FI
LARENTIA Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Lentia Immobilienleasing GmbH & Co. Albert-Osswald-Haus KG, Kriftel (DE) | 5,000 | EUR | 6.0% | FI
Limited Liability Company RB-Digital, Moscow (RU) | 1,500,000 | RUB | 100.0% | BR
LLC Asset Management Сompany Raiffeisen, Moscow (RU) | 225,000,000 | RUB | 100.0% | FI
Neu-Marx Holding Eins GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Neu-Marx Holding Zwei GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Neu-Marx Immobilien Eins GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Neu-Marx Immobilien Zwei GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Objekt Linser Areal Immoblilienerrichtungs GmbH & Co. KG, Vienna (AT) | 1,000 | EUR | 100.0% | OT
OOO Raiffeisen-Leasing, Moscow (RU) | 1,071,000,000 | RUB | 100.0% | FI
OVIS Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
PELIAS Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 36,400 | EUR | 100.0% | FI
PERSES RBI Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
PLANA Raiffeisen-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
R Karpo Immobilien Linie S.R.L., Bucharest (RO) | 200 | RON | 100.0% | OT
R.P.I. Handels- und Beteiligungsgesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 100.0% | FI
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo (BA) | 247,167,000 | BAM | 100.0% | BA
Raiffeisen Bank JSC, Kiev (UA) | 6,154,516,258 | UAH | 68.2% | BA
Raiffeisen Bank Kosovo J.S.C., Pristina (XK) | 63,000,000 | EUR | 100.0% | BA
Raiffeisen Bank S.A., Bucharest (RO) | 1,200,000,000 | RON | 100.0% | BA
Raiffeisen Bank Sh.a., Tirana (AL) | 14,178,593,030 | ALL | 100.0% | BA
Raiffeisen Bank Zrt., Budapest (HU) | 50,000,090,000 | HUF | 100.0% | BA
Raiffeisen banka a.d., Belgrade (RS) | 27,466,157,580 | RSD | 100.0% | BA
Raiffeisen Bausparkasse Gesellschaft m.b.H., Vienna (AT) | 35,000,000 | EUR | 100.0% | BA
Raiffeisen Bausparkassen Holding GmbH, Vienna (AT) | 10,000,000 | EUR | 100.0% | FI
Raiffeisen CEE Region Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FH
Raiffeisen Corporate Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen Corporate Lízing Zrt., Budapest (HU) | 50,120,000 | HUF | 100.0% | FI
Raiffeisen Digital Bank AG, Vienna (AT) | 47,598,850 | EUR | 100.0% | BA
Raiffeisen Factor Bank AG, Vienna (AT) | 10,000,000 | EUR | 100.0% | FI
Raiffeisen FinCorp, s.r.o., Prague (CZ) | 200,000 | CZK | 75.0% | FI
Raiffeisen Group IT GmbH, Vienna (AT) | 100,000 | EUR | 99.9% | BR
Raiffeisen International Liegenschaftsbesitz GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen investicni spolecnost a.s., Prague (CZ) | 40,000,000 | CZK | 75.0% | FI
Raiffeisen Investment Fund Management JSC, Budapest (HU) | 100,000,000 | HUF | 100.0% | FI
Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Vienna (AT) | 15,000,000 | EUR | 100.0% | FI
Raiffeisen Leasing d.o.o., Belgrade (RS) | 405,021,700 | RSD | 100.0% | FI
Raiffeisen Leasing d.o.o. Sarajevo, Sarajevo (BA) | 11,450,452 | BAM | 100.0% | FI
Raiffeisen Leasing IFN S.A., Bucharest (RO) | 39,700,000 | RON | 99.9% | FI
Raiffeisen Leasing Kosovo LLC, Pristina (XK) | 642,857 | EUR | 100.0% | FI
Raiffeisen Leasing sh.a., Tirana (AL) | 263,520,134 | ALL | 100.0% | FI
Raiffeisen Mandatory and Voluntary Pension Funds Management Company Plc., Zagreb (HR) | 19,038,463 | EUR | 100.0% | VV

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 517

Company, domicile (country) | Subscribed capital 1 | in local currency | Share 1 | Type 2
Raiffeisen ÖHT Beteiligungs GmbH, Vienna (AT) | 35,000 | EUR | 88.0% | FI
Raiffeisen Pension Insurance d.d., Zagreb (HR) | 13,020,108 | EUR | 100.0% | VV
Raiffeisen Property Holding International GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen Property International GmbH, Vienna (AT) | 40,000 | EUR | 100.0% | OT
Raiffeisen Property Management GmbH, Vienna (AT) | 40,000 | EUR | 100.0% | OT
Raiffeisen Rehazentrum Schruns Immobilienleasing GmbH, Vienna (AT) | 36,400 | EUR | 51.0% | FI
Raiffeisen Rent DOO, Belgrade (RS) | 243,099,913 | RSD | 100.0% | BR
Raiffeisen RS Beteiligungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FH
Raiffeisen SEE Region Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FH
Raiffeisen stavebni sporitelna a.s., Prague (CZ) | 650,000,000 | CZK | 75.0% | BA
Raiffeisen WohnBau Tirol GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen WohnBau Vienna GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen WohnBau Wien GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen WohnBau Zwei GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen Wohnbaubank Aktiengesellschaft, Vienna (AT) | 5,100,000 | EUR | 100.0% | FI
Raiffeisen-Anlagenvermietung Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Raiffeisenbank a.s., Prague (CZ) | 15,460,800,000 | CZK | 75.0% | BA
Raiffeisenbank Austria d.d., Zagreb (HR) | 480,646,626 | EUR | 100.0% | BA
Raiffeisen-Gemeindegebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Raiffeisen-Invest-Gesellschaft m.b.H., Vienna (AT) | 40,000 | EUR | 100.0% | FI
Raiffeisen-Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen-Leasing Beteiligung GesmbH, Vienna (AT) | 36,400 | EUR | 100.0% | FI
Raiffeisen-Leasing d.o.o., Zagreb (HR) | 3,981,684 | EUR | 100.0% | FI
Raiffeisen-Leasing Equipment Finance GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen-Leasing Finanzierungs GmbH, Vienna (AT) | 5,000,000 | EUR | 100.0% | FI
Raiffeisen-Leasing Fuhrparkmanagement Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | OT
Raiffeisen-Leasing Gesellschaft m.b.H., Vienna (AT) | 363,364 | EUR | 100.0% | FI
Raiffeisen-Leasing Immobilienmanagement Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Raiffeisen-Leasing International Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 100.0% | FI
Raiffeisen-Leasing, s.r.o., Prague (CZ) | 450,000,000 | CZK | 75.0% | FI
Raiffeisen-Rent Immobilienprojektentwicklung Gesellschaft m.b.H. Objekt Wallgasse 12 KG, Vienna (AT) | 4,886,449 | EUR | 100.0% | OT
Raiffeisen-Rent-Immobilienprojektentwicklung Gesellschaft m.b.H., Objekt Lenaugasse 11 KG, Vienna (AT) | 6,169,924 | EUR | 100.0% | OT
RALT Raiffeisen-Leasing Gesellschaft m.b.H., Vienna (AT) | 218,500 | EUR | 100.0% | FI
RALT Raiffeisen-Leasing Gesellschaft m.b.H. & Co. KG, Vienna (AT) | 20,348,394 | EUR | 100.0% | FI
RAN vierzehn Raiffeisen-Anlagevermietung GmbH, Vienna (AT) | 36,336 | EUR | 100.0% | FI
RAN zehn Raiffeisen-Anlagenvermietung Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 100.0% | FI
RB International Markets (USA) LLC, New York (US) | 8,000,000 | USD | 100.0% | FI
RBI eins Leasing Holding GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
RBI ITS Leasing-Immobilien GmbH, Vienna (AT) | 35,000 | EUR | 75.0% | FI
RBI LEA Beteiligungs GmbH, Vienna (AT) | 70,000 | EUR | 100.0% | FI
RBI Leasing GmbH, Vienna (AT) | 100,000 | EUR | 75.0% | FI
REC Alpha LLC, Kiev (UA) | 1,201,407,344 | UAH | 100.0% | OT
Regional Card Processing Center s.r.o., Bratislava (SK) | 539,465 | EUR | 100.0% | BR
RIL VII Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
RIRE Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
RL Anlagenvermietung Gesellschaft m.b.H., Eschborn (DE) | 50,000 | EUR | 100.0% | FI
RL LUX Holding S.a.r.l., Luxembourg (LU) | 12,500 | EUR | 100.0% | OT
RL Retail Holding GmbH, Vienna (AT) | 36,000 | EUR | 100.0% | FI
RL-ALPHA Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
RL-Mörby AB, Stockholm (SE) | 100,000 | SEK | 100.0% | FI
RL-Nordic AB, Stockholm (SE) | 50,000,000 | SEK | 100.0% | FI
RL-Pro Auxo Sp.z.o.o., Warsaw (PL) | 50,000 | PLN | 100.0% | FI
RL-PROMITOR Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
RL-PROMITOR Sp. z.o.o., Warsaw (PL) | 50,000 | PLN | 100.0% | OT
RUBRA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
RZB - BLS Holding GmbH, Vienna (AT) | 500,000 | EUR | 100.0% | FI
RZB Versicherungsbeteiligung GmbH, Vienna (AT) | 500,000 | EUR | 100.0% | FI
S.A.I. Raiffeisen Asset Management S.A., Bucharest (RO) | 33,004,533 | RON | 99.9% | FI
SALVELINUS Handels- und Beteiligungsgesellschaft m.b.H, Vienna (AT) | 40,000 | EUR | 100.0% | FI
SAMARA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
518 Consolidated financial statements

Company, domicile (country) | Subscribed capital 1 | in local currency | Share 1 | Type 2
SINIS Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 35,000 | EUR | 100.0% | FI
Sky Tower Immobilien- und Verwaltung Kft, Budapest (HU) | 44,000 | HUF | 100.0% | OT
Skytower Building SRL, Bucharest (RO) | 126,661,500 | RON | 100.0% | OT
Tatra Asset Management, správ. spol., a.s., Bratislava (SK) | 1,659,700 | EUR | 78.8% | FI
Tatra banka, a.s., Bratislava (SK) | 64,326,228 | EUR | 78.8% | BA
Tatra-Leasing, s.r.o., Bratislava (SK) | 6,638,785 | EUR | 78.8% | FI
Ukrainian Processing Center PJSC, Kiev (UA) | 180,000 | UAH | 100.0% | BR
URSA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Valida Holding AG, Vienna (AT) | 5,000,000 | EUR | 57.4% | FI
Valida Pension AG, Vienna (AT) | 10,200,000 | EUR | 57.4% | OT
Valida Plus AG, Vienna (AT) | 5,500,000 | EUR | 57.4% | FI
Viktor Property, s.r.o., Prague (CZ) | 200,000 | CZK | 75.0% | OT
W 3 Errichtungs- und Betriebs-GmbH, Vienna (AT) | 800,000 | EUR | 100.0% | OT
WEGA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
WHIBK Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
ZHS Office- & Facilitymanagement GmbH, Vienna (AT) | 36,336 | EUR | 100.0% | BR
1 Less own shares 2 Company type: BA Bank, BR Company rendering banking-related ancillary services, FH Financial holding, FI Financial institution, OT Other companies, VV Insurance, SC Securities firms

Structured units
The following tables show the carrying amounts of the financial assets and financial liabilities to non-consolidated structured
entities broken down by type of structured entity. The carrying amounts presented below do not reflect the true variability of
returns faced by the Group as they do not take the effects of collateral or hedges into account.
Assets

2025 in € million | Loans and advances | Equity instruments | Foreign exchange business | Derivatives
Securitization vehicles | 2 | 0 | 1,090 | 0
Third party funding entities | 171 | 15 | 0 | 0
Funds | 0 | 0 | 0 | 0
Total | 173 | 15 | 1,090 | 0

2024 in € million | Loans and advances | Equity instruments | Foreign exchange business | Derivatives
Securitization vehicles | 2 | 0 | 584 | 0
Third party funding entities | 196 | 12 | 0 | 0
Funds | 0 | 0 | 0 | 0
Total | 199 | 12 | 584 | 0

Liabilities

2025 in € million | Deposits | Equity instruments | Debt securities issued | Derivatives
Securitization vehicles | 0 | 0 | 0 | 0
Third party funding entities | 8 | 1 | 0 | 0
Funds | 0 | 0 | 0 | 0
Total | 8 | 1 | 0 | 0

2024 in € million | Deposits | Equity instruments | Debt securities issued | Derivatives
Securitization vehicles | 0 | 0 | 0 | 0
Third party funding entities | 11 | 1 | 0 | 0
Funds | 0 | 0 | 0 | 0
Total | 12 | 1 | 0 | 0

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 519
Nature, purpose and extent of the Group’s interests in non-consolidated structured
entities
The Group engages in various business activities with structured entities which are designed to achieve a specific business
purpose. A structured entity is one that has been set up so that any voting rights or similar rights are not the dominant factor
in deciding who controls the entity. An example is when voting rights relate only to administrative tasks and the relevant
activities are directed by contractual arrangements.
A structured entity often has some of or all the following features or attributes:
· Restricted activities
· A narrow and well-defined objective
· Insufficient equity to permit the structured entity to finance its activities without subordinated financial support
· Financing in the form of the issue of multiple contractually linked instruments to investors that create
concentrations of credit or other risks (tranches)
The principal uses of structured entities are to provide clients with access to specific portfolios of assets and to provide
market liquidity for clients through securitizing financial assets. Structured entities may be established as corporations, trusts,
or partnerships. Structured entities generally finance the purchase of assets by issuing debt and equity securities that are
collateralized by and/or indexed to the assets held by the structured entities.
Structured entities are consolidated when the substance of the relationship between the Group and the structured entities
indicates that the structured entities are controlled by the Group.
Below is a description of the Group’s investments in non-consolidated structured entities by type.
Third party funding entities
The Group provides funding to structured entities that hold a variety of assets. These entities may take the form of funding
entities, trusts, and private investment companies. The funding is collateralized by the assets in the structured entities. The
Group’s investment activity involves predominantly lending.
Securitization vehicles
The Group establishes securitization vehicles which purchase diversified pools of assets, including fixed income securities,
company loans, and asset-backed securities (ABS; predominantly commercial and residential mortgage-backed securities
(RMBS) and credit card receivables). The vehicles fund these purchases by issuing multiple tranches of debt and equity
securities, the repayment of which is linked to the performance of the assets contained in the vehicles.
Funds
The Group establishes structured entities to accommodate client requirements to hold investments in specific assets. The
Group also invests in funds that are sponsored by third parties. A Group entity may act as fund manager, custodian or in
another function and provide funding and liquidity facilities to both Group-sponsored and third-party funds. The funding
provided is collateralized by the underlying assets held by the fund.
Maximum exposure to and size of non-consolidated structured entities
The maximum exposure to loss is determined by considering the nature of the interest in the non-consolidated structured
entity. The maximum exposure for loans and trading instruments is reflected by their carrying amounts in the statement of
financial position. The maximum exposure for derivatives and instruments off the statement of financial position such as
guarantees, liquidity facilities and loan commitments under IFRS 12, as interpreted by the Group, is reflected by the respective
notional amount. Such amounts do not reflect the economic risks faced by the Group because they do not take the effects of
collateral or hedges or the probability of such losses being incurred into account. As at 31 December 2025, the notional values
of derivatives and instruments off the statement of financial position amounted to € 0 million (previous year: € 0 million) and
€ 69 million (previous year: € 68 million) respectively. Since information on the size of structured entities is not always publicly
available, the Group has determined that its exposure is an appropriate guide to the risk of loss from investments in non-
consolidated structured entities.
Financial support
As in the previous year, the Group has not provided financial support to non-consolidated structured entities during the
financial year.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
520 Consolidated financial statements
Sponsored structured entities
As a sponsor, the Group is often involved in the legal set up and marketing of the entity and supports the entity in different
ways such as providing operational support to ensure the entity’s continued operation. The Group is also deemed a sponsor for
a structured entity if market participants would reasonably associate the entity with the Group. Additionally, the use of the
Raiffeisen name for the structured entity often indicates that the Group has acted as a sponsor. The gross proceeds from
sponsored entities for the year ending 31 December 2025 amounted to € 265 million (previous year: € 266 million). No assets
were transferred to sponsored non-consolidated structured entities in the reporting period and the previous year.
(59) List of equity participations
Associated companies valued at equity

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
EMCOM Beteiligungs GmbH, Vienna (AT) | 37,000 | EUR | 33.6% | BA
LEIPNIK-LUNDENBURGER INVEST Beteiligungs Aktiengesellschaft, Vienna (AT) | 32,624,283 | EUR | 33.1% | OT
NOTARTREUHANDBANK AG, Vienna (AT) | 8,030,000 | EUR | 26.0% | FI
Oesterreichische Kontrollbank Aktiengesellschaft, Vienna (AT) | 130,000,000 | EUR | 8.1% | BA
Österreichische Hotel- und Tourismusbank Gesellschaft m.b.H., Vienna (AT) | 11,627,653 | EUR | 31.3% | BA
Posojilnica Bank eGen, Klagenfurt (AT) | 74,345,115 | EUR | 49.8% | BA
Prva stavebna sporitelna a.s., Bratislava (SK) | 66,500,000 | EUR | 32.5% | BA
Raiffeisen Informatik GmbH & Co KG, Vienna (AT) | 1,460,000 | EUR | 47.6% | BR
Raiffeisen-Leasing Management GmbH, Vienna (AT) | 300,000 | EUR | 50.0% | OT
UNIQA Insurance Group AG, Vienna (AT) | 309,000,000 | EUR | 10.9% | VV
1 Company type: BA Bank, BR Company rendering banking-related ancillary services, FH Financial holding, FI Financial institution, OT Other companies, VV Insurance, SC Securities firms

Other affiliated companies

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
"Am Hafen" Sutterlüty GmbH & Co, Vienna (AT) | 100,000 | EUR | 100.0% | FI
Abade Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Abade Immobilienleasing GmbH & Co Projekt Lauterbach KG, Kriftel (DE) | 5,000 | EUR | 6.0% | FI
Abelin Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Abrawiza Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | OT
Abrawiza Immobilienleasing GmbH & Co. Projekt Fernwald KG, Kriftel (DE) | 5,000 | EUR | 6.0% | OT
Abura Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
ACB Ponava, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Achat Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Acridin Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Adamas Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Adorant Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | OT
Adrett Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | OT
Adrittura Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | OT
Adufe Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | OT
Agamemnon Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Aglaia Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Aiolos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
AKCENTA DE GmbH, Hamburg (DE) | 25,000 | EUR | 100.0% | FI
Akcenta Digital s.r.o., Hradec Kralove (CZ) | 20,000 | CZK | 100.0% | FI
Ananke Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Angaga Handels- und Beteiligungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Antiopa Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Apate Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Appolon Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
ASCENT Pflege Borna Immobilienleasing GmbH, Kriftel (DE) | 25,000 | EUR | 100.0% | BR
ASCENT Pflege Erfurt Immobilienleasing GmbH, Kriftel (DE) | 25,000 | EUR | 100.0% | BR
ASCENT Pflege Schleswig Immobilienleasing GmbH, Kriftel (DE) | 25,000 | EUR | 100.0% | BR
AURIGA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 521

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Austria Leasing GmbH & Co. KG Immobilienverwaltung CURA, Kriftel (DE) | 10,000 | EUR | 100.0% | FI
Austria Leasing GmbH & Co. KG Immobilienverwaltung Projekt Eberdingen, Kriftel (DE) | 10,000 | EUR | 100.0% | FI
Austria Leasing Immobilienverwaltungsgesellschaft mbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Beskydska brana s.r.o., Prague (CZ) | 10,000 | CZK | 100.0% | OT
Bratislavska 59 s.r.o., Prague (CZ) | 10,000 | CZK | 90.0% | OT
Campus NWB RBI Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Cepeline Holding GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Charis Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Chronos Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Clio Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
CP Linzerstraße 221-227 Projektentwicklungs GmbH, Vienna (AT) | 37,000 | EUR | 100.0% | OT
CP Logistikcenter Errichtungs- und Verwaltungs GmbH, Vienna (AT) | 37,000 | EUR | 100.0% | OT
CP Projekte Muthgasse Entwicklungs GmbH, Vienna (AT) | 40,000 | EUR | 100.0% | OT
Cranto Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
CURO Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | OT
Cymo Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Dafne Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Darmera Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Dero Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Die Niederösterreichische Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Doplnková dôchodková spoločnosť Tatra banky, a.s., Bratislava (SK) | 1,659,700 | EUR | 78.8% | FI
Doris Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
DORISCUS ENTERPRISES LTD., Limassol (CY) | 19,843,400 | EUR | 86.6% | OT
Dota Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Eleos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Ephyra Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Epifron Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Erginos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Essox d.o.o., Belgrade (RS) | 100 | RSD | 100.0% | OT
Eudore Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
EV II EuVECA GmbH & Co KG, Vienna (AT) | 70,000 | EUR | 71.4% | FI
EV Management GmbH, Vienna (AT) | 100,000 | EUR | 100.0% | BR
Expo Forest 1 EOOD, Sofia (BG) | 10,000 | BGN | 100.0% | OT
Extra Year Investments Limited, Tortola (VG) | 50,000 | USD | 100.0% | FI
FARIO Handels- und Beteiligungsgesellschaft m.b.H., Vienna (AT) | 40,000 | EUR | 100.0% | OT
Fidurock Residential a.s., Prague (CZ) | 2,000,000 | CZK | 90.0% | OT
FINGROUP SKOLSKA s.r.o., Prague (CZ) | 20,000 | CZK | 100.0% | OT
FIRA Properties a.s., Prague (CZ) | 1,800,000 | CZK | 90.0% | OT
First Leasing Service Center GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Fittonia Property, s.r.o., Prague (CZ) | 50,000 | CZK | 90.0% | OT
Fobos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Folos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Fortunella Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Frixos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Gabarts Beteiligungs GmbH & Co KG in Liqu., Vienna (AT) | 10,000 | EUR | 100.0% | FI
Gaia Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Galene Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Golden Rainbow International Limited, Tortola (VG) | 1 | SGD | 100.0% | FI
Grainulos s.r.o., Prague (CZ) | 1 | CZK | 100.0% | OT
H22 GmbH & Co KG, Vienna (AT) | 0 | EUR | 100.0% | OT
Harmonia Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Hefaistos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Hestia Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Holeckova Property s.r.o., Prague (CZ) | 210,000 | CZK | 100.0% | OT
Humanitarian Fund ''Budimir Bosko Kostic'', Belgrade (RS) | 30,000 | RSD | 100.0% | OT
Hypnos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Ianira Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
IDUS Handels- und Beteiligungs GmbH, Vienna (AT) | 40,000 | EUR | 100.0% | OT
IGNIS Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Immoservice Polska Sp.z.o.o., Warsaw (PL) | 50,000 | PLN | 100.0% | OT
Infrastruktur Heilbad Sauerbrunn GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
ISIS Raiffeisen Immobilien Leasing GmbH, Vienna (AT) | 36,400 | EUR | 100.0% | FI

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
522 Consolidated financial statements

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Kalypso Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
Karpo Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Kathrein & Co Life Settlement Gesellschaft m.b.H. in Liqu, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Kathrein & Co. Trust Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Kathrein Private Equity GmbH, Vienna (AT) | 190,000 | EUR | 100.0% | OT
Keto Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Kleio Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Körlog Logistika Építö és Kivitelezö Korlátolt Feleösségü Társaság, Budapest (HU) | 11,077 | EUR | 100.0% | OT
Krios Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Krizkovskeho 3 s.r.o., Prague (CZ) | 10,000 | CZK | 90.0% | OT
K-SPACE, spol. s r. o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Kybele Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Lazne Dobra Voda s.r.o., Prague (CZ) | 10,000 | CZK | 100.0% | OT
LENTIA Immobilienleasing GmbH, Eschborn (DE) | 25,000 | EUR | 100.0% | FI
Leto Property, s.r.o., Prague (CZ) | 200,000 | CZK | 77.0% | BR
Limited Liability Company “Raiffeisen Leasing”, Kiev (UA) | 1,240,152,866 | UAH | 100.0% | OT
Limited Liability Company FAIRO, Kiev (UA) | 358,998,892 | UAH | 100.0% | BR
Limited Liability Company REC GAMMA, Kiev (UA) | 49,015,000 | UAH | 100.0% | BR
Limited Liabilty Company RBRU Specialized Depositary, Moscow (RU) | 100,000,000 | RUB | 100.0% | FI
Luna Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
LYRA Raiffeisen Immobilien Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
MAMONT GmbH, Kiev (UA) | 66,872,100 | UAH | 100.0% | OT
Marissa Ypsilon, a.s., Prague (CZ) | 4,000,000 | CZK | 100.0% | OT
Medea Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Melite Property, s.r.o., Prague (CZ) | 50,000 | CZK | 51.0% | BR
Melpomene Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
MIRA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Mneme Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Morfeus Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
MORHUA Handels- und Beteiligungs GmbH, Vienna (AT) | 36,336 | EUR | 100.0% | OT
Nefele Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Neocity 29, s.r.o., Prague (CZ) | 200,000 | CZK | 51.0% | OT
Nereus Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Nerudova Property s.r.o., Hradec Kralove (CZ) | 200,000 | CZK | 100.0% | BR
Neso Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Objekt Linser Areal Immobilienerrichtungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Orchideus Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
P20 Property, s.r.o., Prague (CZ) | 20,000 | CZK | 100.0% | OT
Panope Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
PARO Raiffeisen Immobilien Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Pasithea Property, s.r.o., Prague (CZ) | 50,000 | CZK | 90.0% | OT
Plutos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Pontos Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Pro Invest da Vinci e.o.o.d., Sofia (BG) | 5,000 | BGN | 100.0% | OT
Propria Raiffeisen-Immobilien-Leasing GmbH, Vienna (AT) | 35,000 | EUR | 90.0% | OT
Proteus Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Queens Garden Sp z.o.o., Warsaw (PL) | 100,000 | PLN | 100.0% | OT
R 320 Verwaltungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
R Lux Invest S.á r.l, Luxembourg (LU) | 50,000 | EUR | 100.0% | FI
R.L.H. Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Radwinter sp.z o.o., Warsaw (PL) | 30,300 | PLN | 100.0% | OT
Raiffeisen Advisory EOOD, Sofia (BG) | 700,000 | BGN | 100.0% | FI
Raiffeisen Apart GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen Assistance D.O.O., Beograd, Belgrade (RS) | 4,307,115 | RSD | 100.0% | OT
Raiffeisen Assistance doo Sarajevo, Sarajevo (BA) | 4,000 | BAM | 100.0% | OT
Raiffeisen Autó Lízing Kft., Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
Raiffeisen Broker, s.r.o., Prague (CZ) | 1,250,000 | CZK | 100.0% | VV
Raiffeisen Burgenland Leasing GmbH, Vienna (AT) | 38,000 | EUR | 100.0% | FI
Raiffeisen Capital a.d. Banja Luka, Banja Luka (BA) | 355,000 | BAM | 100.0% | FI
Raiffeisen CIB sp. z o.o., Warsaw (PL) | 2,105,000 | PLN | 100.0% | OT
Raiffeisen Conversational AI Lab s. r. o., Bratislava (SK) | 75,000 | EUR | 100.0% | BR
Raiffeisen Digital Assets GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | BR

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 523

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Raiffeisen Direct Investments CZ, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
RAIFFEISEN FUTURE AD, Belgrade (RS) | 143,200,000 | RSD | 100.0% | FI
Raiffeisen Immobilien Kapitalanlage-Gesellschaft m.b.H., Vienna (AT) | 5,000,000 | EUR | 100.0% | FI
Raiffeisen Insurance and Reinsurance Broker S.R.L, Bucharest (RO) | 180,000 | RON | 100.0% | BR
Raiffeisen Insurance Broker Kosovo L.L.C., Pristina (XK) | 10,000 | EUR | 100.0% | BR
Raiffeisen International Invest Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen Invest a.d., Belgrade (RS) | 47,660,000 | RSD | 100.0% | FI
Raiffeisen Invest Fund Management Company JSC Sarajevo, Sarajevo (BA) | 1,118,600 | BAM | 100.0% | FI
Raiffeisen INVEST Sh.a., Tirana (AL) | 90,000,000 | ALL | 100.0% | FI
Raiffeisen Investment Advisory GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen Investment Financial Advisory Services Ltd. Co., Istanbul (TR) | 2,930,000 | TRY | 100.0% | FI
Raiffeisen Leasing d.o.o., Ljubljana (SI) | 3,738,107 | EUR | 100.0% | FI
Raiffeisen Leasing-Projektfinanzierung Gesellschaft m.b.H., Vienna (AT) | 72,673 | EUR | 100.0% | FI
Raiffeisen Property Estate s.r.o., Bratislava (SK) | 5,000 | EUR | 100.0% | OT
Raiffeisen Property Management Bulgaria EOOD, Sofia (BG) | 80,000 | BGN | 100.0% | OT
Raiffeisen Property Management s.r.o., Bratislava (SK) | 5,000 | EUR | 100.0% | OT
Raiffeisen Real Estate Management Ltd., Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
Raiffeisen Rent S.R.L, Bucharest (RO) | 27,857,820 | RON | 100.0% | OT
Raiffeisen Tech GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | BR
Raiffeisen Tech Kosovo LLC, Pristina (XK) | 1,750,000 | EUR | 100.0% | BR
RAIFFEISEN TECH ROMANIA S.R.L., Bucharest (RO) | 4,950,000 | RON | 100.0% | BR
Raiffeisen Windpark Zistersdorf GmbH, Vienna (AT) | 37,000 | EUR | 100.0% | OT
Raiffeisen WohnBau Seeresidenz Weyregg GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
Raiffeisen Wohnbauleasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
Raiffeisen-Leasing Anlagen und KFZ Vermietungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
Raiffeisen-Leasing Immobilienverwaltung Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | OT
Raiffeisen-Wohnbauleasing Österreich GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | FI
RAN elf Raiffeisen-Anlagenvermietung Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 100.0% | FI
RB Service Center Ltd., Nyíregyháza (HU) | 3,000,000 | HUF | 100.0% | OT
RBI Kantinenbetriebs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
RBI PE Handels- und Beteiligungs GmbH, Vienna (AT) | 150,000 | EUR | 100.0% | FI
RBI Real Estate Services Czechia s.r.o., Prague (CZ) | 100,000 | CZK | 100.0% | OT
RBI Real Estate Services Polska SP.z.o.o., Warsaw (PL) | 400,000 | PLN | 100.0% | OT
RBI Retail Innovation GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | BR
RBI Retail Innovation LLC, Kiev (UA) | 8,241,525 | UAH | 100.0% | BR
RBM Wohnbau Ges.m.b.H., Vienna (AT) | 37,000 | EUR | 100.0% | OT
RCR Ukraine LLC, Kiev (UA) | 282,699 | UAH | 100.0% | OT
RDI Czech 1 s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
RDI Czech 3 s.r.o, Prague (CZ) | 200,000 | CZK | 100.0% | OT
RDI Czech 4 s.r.o, Prague (CZ) | 2,500,000 | CZK | 100.0% | OT
RDI Czech 5 s.r.o, Prague (CZ) | 200,000 | CZK | 100.0% | OT
RDI Czech 6 s.r.o, Prague (CZ) | 3,700,000 | CZK | 100.0% | OT
RDI Management s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | OT
Real Estate Rent 4 DOO, Belgrade (RS) | 40,310 | RSD | 100.0% | OT
Rent PO, s.r.o., Bratislava (SK) | 6,639 | EUR | 100.0% | FI
Residence Park Trebes, s.r.o., Prague (CZ) | 20,000,000 | CZK | 100.0% | BR
RIL XIII Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 100.0% | FI
R-Insurance Services sp. z o.o., Ruda O.S. (PL) | 5,000 | PLN | 100.0% | OT
RIRBRO ESTATE MANAGEMENT S.R.L., Bucharest (RO) | 1,000 | RON | 100.0% | OT
RK 60 Kft, Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
RL Leasing Gesellschaft m.b.H., Eschborn (DE) | 25,565 | EUR | 100.0% | FI
RL-Lamda s.r.o., Bratislava (SK) | 6,639 | EUR | 100.0% | OT
RL-Prom-Wald Sp. Z.o.o, Warsaw (PL) | 50,000 | PLN | 100.0% | OT
RLRE Carina Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
RLRE Ypsilon Property, s.r.o., Prague (CZ) | 200,000 | CZK | 100.0% | BR
Robert Károly Körút Irodaház Kft., Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
Rolna 1 sp. z o.o., Wrocław (PL) | 100 | PLN | 100.0% | OT
RPM Budapest KFT, Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
RS 80 Projektentwicklungs GmbH & Co KG, Vienna (AT) | 0 | EUR | 100.0% | OT
RWA Raiffeisen-Immobilien-Leasing s.r.o., Bratislava (SK) | 5,000 | EUR | 100.0% | OT
Sao Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
SASSK Ltd., Kiev (UA) | 152,322,000 | UAH | 88.7% | OT

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
524 Consolidated financial statements

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Savity Vermögensverwaltung GmbH, Vienna (AT) | 100,000 | EUR | 100.0% | FI
Scantius Holding GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
SCT Karasz Ltd., Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
SCTE Elsö Ingatlanfejlesztö és Ingatlanhasznosító Kft., Budapest (HU) | 3,000,000 | HUF | 100.0% | OT
Senna Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Sky Solar Distribuce s.r.o., Prague (CZ) | 200,000 | CZK | 77.0% | OT
SOLIDA Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 50.5% | FI
SPILBERK SPV delta s.r.o., Prague (CZ) | 10,000 | CZK | 100.0% | OT
SPILBERK SPV gama s.r.o., Prague (CZ) | 10,000 | CZK | 100.0% | OT
St. Marx-Immobilien Verwertungs- und Verwaltungs GmbH, Vienna (AT) | 36,336 | EUR | 100.0% | OT
Stara 19 s.r.o., Prague (CZ) | 200,000 | CZK | 90.0% | OT
Strasnicka realitni a.s., Prague (CZ) | 8,380,000 | CZK | 100.0% | OT
Szentkiraly utca 18 Kft., Budapest (HU) | 5,000,000 | HUF | 100.0% | OT
Tatra Asset Management SICAV a.s., Prague (CZ) | 100,000 | CZK | 100.0% | FI
Tatra Leasing Broker, s.r.o., Bratislava (SK) | 6,639 | EUR | 100.0% | OT
Tatra Residence, a.s., Bratislava (SK) | 21,420,423 | EUR | 100.0% | OT
TEG 1 Immobilienentwicklungs GmbH & Co KG, Vienna (AT) | 10,000 | EUR | 100.0% | OT
Thallos Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | BR
Thaumas Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Thoe Property, s.r.o., Prague (CZ) | 45,000 | CZK | 90.0% | OT
Uniola Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Valida Consulting GmbH, Vienna (AT) | 1,536,336 | EUR | 100.0% | OT
Veletrzni 42 s.r.o., Prague (CZ) | 100,000 | CZK | 90.0% | OT
Vindalo Properties Limited, Limassol (CY) | 67,998 | RUB | 100.0% | BR
Vivante Services 2 spółka z ograniczoną odpowiedzialnością, Warsaw (PL) | 56,000 | PLN | 100.0% | OT
Vlhka 26 s.r.o., Prague (CZ) | 200,000 | CZK | 90.0% | OT
VR I Verwaltungs GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
WI Inwestycje Selektywne spółka z ograniczoną odpowiedzialnością, Wrocław (PL) | 7,450 | PLN | 100.0% | OT
WI Lasy Polskie 4 sp. z o.o., Warsaw (PL) | 27,400 | PLN | 100.0% | OT
Xantoria Property, s.r.o., Prague (CZ) | 50,000 | CZK | 100.0% | OT
Zahradnicka Property s.r.o., Bratislava (SK) | 5,000 | EUR | 100.0% | OT
ZUNO GmbH, Vienna (AT) | 35,000 | EUR | 100.0% | OT
1 Company type: BA Bank, BR Company rendering banking-related ancillary services, FH Financial holding, FI Financial institution, OT Other companies, VV Insurance, SC Securities firms

Other equity participations

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Accession Mezzanine Capital III L.P. (in liquidation), St. Helier (JE) | 1,501 | EUR | 3.3% | OT
Aedificium Banca pentru Locuinte S.A. - in Liquidation, Bucharest (RO) | 25,000,320 | RON | 100.0% | OT
Agricultural Open Joint Stock Company Illintsi Livestock Breeding Enterprise, Illinci (UA) | 703,100 | UAH | 4.7% | OT
Agro.Club Inc., New York (US) | 240 | USD | 8.2% | OT
AIL Swiss-Austria Leasing AG, Glattbrugg (CH) | 5,000,000 | CHF | 50.0% | FI
ALCS Association of Leasing Companies in Serbia, Belgrade (RS) | 853,710 | RSD | 12.5% | OT
Analytical Credit Rating Agency (Joint Stock Company), Moscow (RU) | 3,000,024,000 | RUB | 3.7% | OT
A-Trust GmbH, Vienna (AT) | 5,290,013 | EUR | 12.1% | OT
Austrian Growth Capital Fund SCSp, Senningerberg (LU) | 132,919,213 | EUR | 18.8% | FI
Austrian Reporting Services GmbH, Vienna (AT) | 41,176 | EUR | 13.0% | BR
Autenti Sp. z o.o., Poznan (PL) | 6,811,700 | PLN | 7.4% | OT
Bad Sauerbrunn Thermalwasser Nutzungs- und Verwertungs GmbH., Bad Sauerbrunn (AT) | 36,336 | EUR | 50.0% | OT
Bankovni identita, a.s., Prague (CZ) | 3,881,000 | CZK | 11.9% | OT
Biroul de Credit S.A., Bucharest (RO) | 4,114,615 | RON | 13.2% | FI
BTS Holding a.s. "v likvidácii", Bratislava (SK) | 35,700 | EUR | 19.0% | OT
Budapest Stock Exchange, Budapest (HU) | 541,348,100 | HUF | <0,1% | OT
byrd technologies GmbH, Vienna (AT) | 172,069 | EUR | 2.1% | OT
Central Depository and Clearing Company, Inc., Zagreb (HR) | 12,545,623 | EUR | 0.1% | FI
CIT ONE SA, Bucharest (RO) | 21,270,270 | RON | 33.3% | BR
CloudCart AD, Sofia (BG) | 78,430 | BGN | 5.0% | OT
Commodity Exchange Crimean Interbank Currency Exchange, Simferopol (UA) | 420,000 | UAH | 4.8% | OT
CONATUS Grundstückvermietungs Gesellschaft m.b.H. in Liqu., St. Pölten (AT) | 36,360 | EUR | 24.5% | OT
CULINA Grundstückvermietungs Gesellschaft m.b.H., St. Pölten (AT) | 36,360 | EUR | 25.0% | FI
D. Trust Certifikacná Autorita, a.s., Bratislava (SK) | 331,939 | EUR | 10.0% | OT

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 525

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
Einlagensicherung AUSTRIA Ges.m.b.H., Vienna (AT) | 0 | EUR | 1.0% | FI
Elucidate GmbH, Berlin (DE) | 57,746 | EUR | 5.2% | OT
EMERGING EUROPE GROWTH FUND II, L.P., Delaware (US) | 370,000,000 | USD | 1.9% | OT
ESQUILIN Grundstücksverwaltungs Gesellschaft m.b.H., St. Pölten (AT) | 36,336 | EUR | 24.5% | FI
Euro Banking Association (ABE Clearing S.A.S.), Paris (FR) | 48,000 | EUR | 2.1% | FI
European Investment Fund S.A., Luxembourg (LU) | 7,370,000,000 | EUR | 0.1% | FI
Export and Industry Bank Inc., Makati City (PH) | 4,734,452,540 | PHP | 9.5% | BA
FORIS Grundstückvermietungs Gesellschaft m.b.H., St. Pölten (AT) | 36,360 | EUR | 24.5% | FI
G + R Leasing Gesellschaft m.b.H. & Co. KG., Graz (AT) | 72,673 | EUR | 50.0% | FI
Garantiqa Hitelgarancia ZRt., Budapest (HU) | 7,839,600,000 | HUF | 0.2% | BR
Greenix Limited, Tortola (VG) | 100,000 | USD | 25.0% | OT
HOBEX AG, Salzburg (AT) | 1,000,000 | EUR | 8.5% | FI
Hrvatski registar obveza po kreditima d.o.o., Zagreb (HR) | 1,791,758 | EUR | 10.5% | BR
Joint Stock Company Stock Exchange PFTS, Kiev (UA) | 32,010,000 | UAH | 0.2% | OT
Kommunal-Infrastruktur & Immobilien Zeltweg GmbH, Zeltweg (AT) | 35,000 | EUR | 20.0% | OT
LITUS Grundstückvermietungs Gesellschaft m.b.H., St. Pölten (AT) | 36,360 | EUR | 24.5% | FI
Lorit Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 42,000 | EUR | 8.3% | FI
MASTERINVEST Kapitalanlage GmbH, Vienna (AT) | 2,500,000 | EUR | 37.5% | FI
Medicur - Holding Gesellschaft m.b.H., Vienna (AT) | 4,360,500 | EUR | 25.0% | OT
Mit.Einander Wohnen Bisamberg Projekterrichtungs GmbH, Vienna (AT) | 35,000 | EUR | 20.0% | OT
Monilogi s.r.o., Bratislava (SK) | 2,250,000 | EUR | 28.0% | OT
National Settlement Depositary, Moscow (RU) | 1,180,675,000 | RUB | <0,1% | FI
NÖ Raiffeisen Kommunalprojekte Service Gesellschaft m.b.H., Vienna (AT) | 50,000 | EUR | 26.0% | FI
NÖ Raiffeisen-Leasing Gemeindeprojekte Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 1.0% | FI
NÖ-KL Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 37,400 | EUR | 33.3% | FI
Not a Hotel Venture Limited, Dublin (IE) | 6,476 | EUR | 7.2% | OT
Oberpinzg. Fremdenverkehrförderungs- und Bergbahnen AG, Neukirchen am Großvenediger (AT) | 3,297,530 | EUR | <0,1% | OT
Open Joint Stock Company Kyiv Special Project and Design Bureau Menas, Kiev (UA) | 3,383,218 | UAH | 4.7% | OT
Österreichische Raiffeisen-Sicherungseinrichtung eGen, Vienna (AT) | 121,200 | EUR | 8.7% | BR
Österreichische Wertpapierdaten Service GmbH, Vienna (AT) | 100,000 | EUR | 24.1% | BR
Pisano Limited, London (GB) | 4,041 | GBP | 17.0% | OT
Private Joint Stock Company Bird Farm Bershadskyi, Viytivka (UA) | 6,691,141 | UAH | 0.5% | OT
Private Joint Stock Company First All-Ukrainian Credit Bureau, Kiev (UA) | 11,750,000 | UAH | 5.1% | OT
Private Joint Stock Company Sumy Enterprise Agrotechservice, Sumy (UA) | 1,545,000 | UAH | 0.6% | OT
Private Joint Stock Company Ukrainian Interbank Currency Exchange, Kiev (UA) | 36,000,000 | UAH | 3.1% | OT
PSA Payment Services Austria GmbH, Vienna (AT) | 285,000 | EUR | 11.2% | FI
Public Joint Stock Company National Depositary of Ukraine, Kiev (UA) | 103,200,000 | UAH | 0.1% | BR
Public Joint Stock Company Settlement Center for Servicing of Contracts in Financial Markets, Kiev (UA) | 206,700,000 | UAH | <0,1% | OT
Qivalis B.V., Amsterdam (NL) | 11,000 | EUR | 9.1% | OT
QUIRINAL Grundstücksverwaltungs Gesellschaft m.b.H., Vienna (AT) | 37,063 | EUR | 33.3% | FI
Raiffeisen Continuum GmbH, Vienna (AT) | 100,000 | EUR | 14.3% | OT
Raiffeisen Continuum GmbH & Co KG, Vienna (AT) | 22,700,543 | EUR | 29.1% | FI
Raiffeisen Continuum Management GmbH, Vienna (AT) | 100,000 | EUR | 47.5% | FI
Raiffeisen Digital GmbH, Vienna (AT) | 75,000 | EUR | 1.2% | BR
Raiffeisen e-force GmbH, Vienna (AT) | 145,346 | EUR | 28.2% | BR
Raiffeisen Informatik Geschäftsführungs GmbH, Vienna (AT) | 70,000 | EUR | 47.6% | BR
Raiffeisen Kooperations eGen, Vienna (AT) | 9,000,000 | EUR | 11.1% | OT
Raiffeisen Landesbank Kärnten und Revisionsverband eGen, Klagenfurt (AT) | 6,715,600 | EUR | <0,1% | BA
Raiffeisen Salzburg Leasing GmbH, Salzburg (AT) | 35,000 | EUR | 19.0% | FI
Raiffeisen Software GmbH, Linz (AT) | 150,000 | EUR | 1.2% | BR
Raiffeisen WohnBau Via Silva GmbH, Vienna (AT) | 35,000 | EUR | 55.0% | FI
RAIFFEISEN-HOLDING NIEDERÖSTERREICH-WIEN registrierte Genossenschaft mit beschränkter Haftung, Vienna (AT) | 96,391,536 | EUR | <0,1% | BA
Raiffeisen-IMPULS-Liegenschaftsverwaltung Gesellschaft m.b.H., Linz (AT) | 500,000 | ATS | 25.0% | FI
Raiffeisen-Impuls-Zeta Immobilien GmbH, Linz (AT) | 58,333 | EUR | 40.0% | FI
Raiffeisen-Landesbank Tirol AG, Rum (AT) | 90,850,000 | EUR | <0,1% | BA
Raiffeisen-Leasing BOT s.r.o., Prague (CZ) | 100,000 | CZK | 20.0% | OT
Raiffeisen-Leasing Mobilien und KFZ GmbH, Vienna (AT) | 35,000 | EUR | 15.0% | FI
Registry of Securities in FBH, Sarajevo (BA) | 2,052,300 | BAM | 1.4% | BR
Rehazentrum Kitzbühel Immobilien-Leasing GmbH, Innsbruck (AT) | 35,000 | EUR | 19.0% | FI
REMUS Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Vienna (AT) | 36,400 | EUR | 50.0% | FI
RLB Holding eGen OÖ, Linz (AT) | 1,566,758 | EUR | <0,1% | FI

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
526 Consolidated financial statements

Company, domicile (country) | Subscribed capital | in local currency | Share | Type 1
RLKG Raiffeisen-Leasing GmbH, Vienna (AT) | 40,000 | EUR | 12.5% | FI
RSAL Raiffeisen Steiermark Anlagenleasing GmbH, Graz (AT) | 38,000 | EUR | 19.0% | FI
RSC Raiffeisen Service Center GmbH, Vienna (AT) | 2,000,000 | EUR | 50.3% | BR
RSIL Immobilienleasing Raiffeisen Steiermark GmbH, Graz (AT) | 38,000 | EUR | 19.0% | FI
S.C. DEPOZITARUL CENTRAL S.A., Bucharest (RO) | 25,291,953 | RON | 2.6% | OT
Sarajevo Stock Exchange, Sarajevo (BA) | 1,967,680 | BAM | 10.5% | FI
SELENE Raiffeisen-Immobilien-Leasing Gesellschaft m.b.H., Innsbruck (AT) | 36,400 | EUR | 1.0% | OT
SESAMm, Metz (FR) | 200,055 | EUR | 3.2% | OT
SKR Lager 102 AB, Stockholm (SE) | 100,000 | SEK | 49.0% | OT
Slovak Banking Credit Bureau, s.r.o., Bratislava (SK) | 9,958 | EUR | 33.3% | BR
Societatea de Transfer de Fonduri si Decontari-TRANSFOND S.A, Bucharest (RO) | 6,720,000 | RON | 3.4% | FI
Society for Worldwide Interbank Financial Telekommunication scrl, La Hulpe (BE) | 629,671,620 | EUR | 0.4% | FI
SPRINT INTERMEDIATECO B.V., Hoofddorp (NL) | 2 | EUR | 0.9% | OT
Steirische Gemeindegebäude Leasing Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 50.0% | OT
Steirische Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 25.0% | FI
Steirische Leasing für Gebietskörperschaften Ges.m.b.H., Vienna (AT) | 36,336 | EUR | 50.0% | FI
Steirische Leasing für öffentliche Bauten Gesellschaft m.b.H. in Liqu., Vienna (AT) | 36,336 | EUR | 50.0% | OT
SWO Kommunalgebäudeleasing Gesellschaft m.b.H., Vienna (AT) | 36,336 | EUR | 50.0% | FI
Syrena Immobilien Holding AG, Spittal an der Drau (AT) | 22,600,370 | EUR | 21.0% | OT
Tarfin Limited, London (GB) | 16,297,958 | GBP | 11.9% | OT
The Zagreb Stock Exchange joint stock company, Zagreb (HR) | 6,152,631 | EUR | 2.9% | OT
TKL II. Grundverwertungsgesellschaft m.b.H., Vienna (AT) | 39,000 | EUR | 8.3% | OT
TKL VI Grundverwertungsgesellschaft m.b.H., Innsbruck (AT) | 39,000 | EUR | 33.3% | FI
TKL VII Grundverwertungsgesellschaft m.b.H., Innsbruck (AT) | 39,000 | EUR | 33.3% | OT
TKL VIII Grundverwertungsgesellschaft m.b.H., Innsbruck (AT) | 39,000 | EUR | 24.5% | FI
Tojon Beteiligungs GmbH, Vienna (AT) | 70,000 | EUR | 25.0% | OT
TRABITUS Grundstücksvermietungs Gesellschaft m.b.H. in Liqu., Vienna (AT) | 36,360 | EUR | 25.0% | OT
VALET-Grundstücksverwaltungs Gesellschaft m.b.H., St. Pölten (AT) | 36,360 | EUR | 24.5% | FI
vc trade GmbH, Frankfurt am Main (DE) | 41,278 | EUR | 9.4% | BR
VERMREAL Liegenschaftserwerbs- und -betriebs GmbH, Vienna (AT) | 36,336 | EUR | 17.0% | OT
vestr AG, Zug (CH) | 235,310 | CHF | 5.6% | OT
Visa Inc., San Francisco (US) | 192,981 | USD | <0,1% | BR
Wiener Börse Aktiengesellschaft, Vienna (AT) | 18,620,720 | EUR | 7.0% | OT
Zhytomyr Commodity Agroindustrial Exchange, Zhitomir (UA) | 476,515 | UAH | 3.1% | OT
Ziloti Holding S.A., Luxembourg (LU) | 48,963 | EUR | 0.9% | OT
1 Company type: BA Bank, BR Company rendering banking-related ancillary services, FH Financial holding, FI Financial institution, OT Other companies, VV Insurance, SC Securities firms

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 527
Regulatory information
(60) Capital management and total capital according to CRR/CRD IV and
Austrian Banking Act (BWG)
RBI is subject to the own funds requirements pursuant to Article 92 CRR and the combined capital buffer requirement pursuant
to the Austrian Banking Act ("BWG"), which comprises a capital conservation buffer (Section 22 BWG), a systemic risk buffer
(Section 23e BWG), a capital buffer for systemically important institutions (Section 23d BWG) and a countercyclical capital
buffer (Section 23a BWG). Since 1 July 2025, RBI is also required to comply with the newly introduced sectoral systemic risk
buffer for risk-weighted assets in the commercial real estate sector in Austria (Section 23d (7) BWG). A breach of these
requirements could lead to restrictions on dividend distributions and coupon payments.
The Financial Market Stability Board (FMSG), which is responsible for this in Austria, has recommended that the Austrian
Financial Market Authority (FMA) impose a systemic risk buffer (SyRP) and a capital buffer for systemically important banks (O-
SII buffer) for RBI. Since 1 January 2025, the SyRP has been 1 per cent at consolidated level and 0.5 per cent at unconsolidated
level, while the O-SII buffer is 1.75 per cent at both, consolidated and at unconsolidated level. The capital conservation buffer is
2.5 per cent. The new sectoral systemic risk buffer for risk-weighted assets in the commercial real estate sector in Austria,
which was introduced on 1 July 2025, will be 1 per cent and must be met on a consolidated and individual level. In its
Recommendation FMSG/6/2025 of 12 December 2025, the FMSG recommends that the FMA gradually increase this buffer rate
in two stages, namely to 2 per cent with effect from 1 July 2026 and to 3.5 per cent with effect from 1 July 2027. The
countercyclical capital buffer, on the other hand, was set at 0 per cent in Austria, but amounts to 0.73 per cent based on the
buffer rates set for banks in other EU member states and the corresponding weighted average calculation of RBI's business.
In addition, effective January 1, 2025, the ECB requires RBI to hold additional capital (Pillar 2 Capital Requirement, P2R) of 2.79
per cent on the basis of the annual Supervisory Review and Evaluation Process (SREP) in order to cover risks that are not
sufficiently covered by Pillar 1. These requirements have applied at consolidated level. The ECB also expects compliance with
the Pillar 2 Guidance (P2G) of 1.25 per cent. With effect from 1 January 2026, a newly calibrated P2R of 2.78 per cent and an
adjusted P2G of 1 per cent will apply to RBI.
The capital requirements were complied with on an ongoing basis and as at 31 December 2025, the CET 1 ratio (including
combined capital buffer requirements) was 12.06 per cent; taking into account the P2G, the ratio was 13.31 per cent. Regulatory
changes are monitored and taken into account in planning.
The entry into force of Regulation (EU) 2024/1623 (CRR III) on 1 January 2025, led to significant changes in the calculation of risk-
weighted assets and capital requirements, particularly through the introduction of the output floor and revised standards for
credit and operational risk. These regulatory changes form the basis for shifts within the individual risk positions, including the
discontinuation or redefinition of individual categories. As a result, full comparability with historical figures is no longer entirely
possible.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
528 Consolidated financial statements
Total capital
The following consolidated figures have been calculated in accordance with the provisions of the Capital Requirements
Regulation (CRR) and other statutory provisions such as the Implementing Technical Standards (ITS) of the European Banking
Authority (EBA).

in € million | 2025 | 2024
Capital instruments and the related share premium accounts | 5,987 | 5,991
Retained earnings | 15,743 | 15,124
Accumulated other comprehensive income (and other reserves) | (4,184) | (5,418)
Minority interests (amount allowed in consolidated CET1) | 745 | 706
Independently reviewed interim profits net of any foreseeable charge or dividend | 736 | 704
Common equity tier 1 (CET1) capital before regulatory adjustments | 19,027 | 17,107
Additional value adjustments (negative amount) | (55) | (60)
Deductions for new net provisioning | 0 | 0
Intangible assets (net of related tax liability) (negative amount) | (679) | (623)
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) | (8) | (7)
Fair value reserves related to gains or losses on cash flow hedges | 8 | 128
Negative amounts resulting from the calculation of expected loss amounts | (35) | 0
Gains or losses on liabilities valued at fair value resulting from changes in own credit standing | 4 | 0
Direct and indirect holdings by an institution of own CET1 instruments (negative amount) | (20) | (20)
Exposure amount of the following items which qualify for a risk weight of 1250%, where the institution opts for the deduction alternative | (26) | (56)
hereof: securitization positions (negative amount) | (26) | (56)
Other regulatory adjustments | (123) | (135)
Total regulatory adjustments to common equity tier 1 (CET1) | (934) | (773)
Common equity tier 1 (CET1) capital | 18,093 | 16,334
Capital instruments and the related share premium accounts | 1,669 | 1,829
Qualifying tier 1 capital included in consolidated AT1 capital (including minority interests not included in row 5) issued by subsidiaries and held by third parties | 48 | 48
Additional Tier 1 (AT1) capital before regulatory adjustments | 1,717 | 1,877
Total regulatory adjustments to Additional Tier 1 (AT1) capital | (33) | (33)
Additional tier 1 (AT1) capital | 1,684 | 1,844
Tier 1 capital (T1 = CET1 + AT1) | 19,776 | 18,178
Capital instruments and the related share premium accounts | 2,167 | 2,276
Qualifying own funds instruments included in consolidated T2 capital (including minority interests and AT1 instruments not included in rows 5 or 34) issued by subsidiaries and held by third parties | 38 | 53
Credit risk adjustments | 0 | 125
Tier 2 (T2) capital before regulatory adjustments | 2,204 | 2,454
Total regulatory adjustments to Tier 2 (T2) capital | (30) | (60)
Tier 2 (T2) capital | 2,174 | 2,394
Total capital (TC = T1 + T2) | 21,951 | 20,572
Total risk-weighted assets (RWA) | 100,924 | 95,600

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 529
Total capital requirement and risk-weighted assets
The following table shows the risk-weighted exposure according to Regulation (EU) 2024/1623 (CRR III/Basel IV), which came into
force on 1 January 2025. Until the end of 2024, the risk-weighted exposure was calculated according to the requirements of
Regulation (EU) No. 575/2013 (CRR II/Basel III).

in € million | 2025
| Total risk exposure amount | Output floor - standardised total risk exposure amount
Total Risk Exposure Amount | 100,924 | 121,613
Standardised approach (SA) | 26,556 | 26,556
Central governments or central banks | 11,390 | 11,390
Regional governments or local authorities | 232 | 232
Public sector entities | 182 | 182
Multilateral Development Banks | 1 | 1
International Organisations | 0 | 0
Institutions | 132 | 132
Corporates - Other | 4,970 | 4,970
Corporates - Specialised Lending | 89 | 89
Retail | 3,573 | 3,573
Secured by mortgages on immovable property and ADC exposures | 2,345 | 2,345
Exposures in default | 207 | 207
Subordinated debt exposures | 0 | 0
Covered bonds | 0 | 0
Claims on institutions and corporates with a short-term credit assessment | 0 | 0
Collective investments undertakings (CIU) | 11 | 11
Equity | 2,499 | 2,499
Other items | 926 | 926
Internal ratings based Approach (IRB) | 42,085 | 59,706
IRB approaches when neither own estimates of LGD nor Conversion Factors are used | 28,343 | 40,525
Institutions | 2,608 | 1,903
Corporates - Specialised Lending | 4,679 | 8,474
Corporates - Purchased receivables | 255 | 290
Corporates - Other | 20,801 | 29,858
IRB approaches when own estimates of LGD and/or Conversion Factors are used | 11,218 | 16,873
Corporates - Other | 0 | 0
Retail - Secured by residential real estate | 4,695 | 9,323
Retail - Qualifying revolving | 605 | 1,076
Retail - Purchased receivables | 0 | 0
Retail - Other | 5,918 | 6,473
Equity IRB | 241 | 97
Collective investments undertakings (CIU) | 28 | 32
Other non credit-obligation assets | 2,256 | 2,180
Securitisation positions | 2,250 | 5,318
Total risk exposure amount for settlement/delivery | 22 | 22
Total Risk Exposure Amount for the business subject to market risk | 11,028 | 11,028
Risk exposure amount for business subject to market risk calculated by entities exclusively applying the simplified standardised approach (SSA) | 8,771 | 8,771
Risk exposure amount for position, foreign exchange and commodities risks under internal models (IM) | 2,256 | 2,256
Total risk exposure amount for operational risk | 18,530 | 18,530
Total risk exposure amount for credit valuation adjustments | 331 | 331
Other risk exposure amounts | 123 | 123

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
530 Consolidated financial statements

in € million | 2024
| Risk-weighted exposure | Capital requirement
Total risk-weighted assets (RWA) | 95,600 | 7,648
Risk-weighted exposure amounts for credit, counterparty credit and dilution risks and free deliveries | 68,003 | 5,440
Standardized approach (SA) | 25,684 | 2,055
Exposure classes excluding securitization positions | 25,684 | 2,055
Central governments or central banks | 9,144 | 732
Regional governments or local authorities | 185 | 15
Public sector entities | 88 | 7
Multilateral development banks | 1 | 0
Institutions | 186 | 15
Corporates | 5,245 | 420
Retail | 4,540 | 363
Secured by mortgages on immovable property | 2,819 | 226
Exposure in default | 288 | 23
Items associated with particular high risk | 217 | 17
Covered bonds | 0 | 0
Claims on institutions and corporates with a short-term credit assessment | 0 | 0
Collective investments undertakings (CIU) | 80 | 6
Equity interests | 1,870 | 150
Other items | 1,019 | 82
Internal ratings based approach (IRB) | 42,319 | 3,386
IRB approaches when neither own estimates of LGD nor conversion factors are used | 30,694 | 2,455
Central governments or central banks | 0 | 0
Institutions | 2,627 | 210
Corporates - SME | 2,703 | 216
Corporates - Specialized lending | 4,070 | 326
Corporates - Other | 21,293 | 1,703
IRB approaches when own estimates of LGD and/or conversion factors are used | 9,055 | 724
Corporates - Specialized Lending | 0 | 0
Corporates - Other | 0 | 0
Retail - Secured by real estate SME | 94 | 8
Retail - Secured by real estate non-SME | 3,596 | 288
Retail - Qualifying revolving | 520 | 42
Retail - Other SME | 324 | 26
Retail - Other non-SME | 4,521 | 362
Equity interests | 608 | 49
Simple risk weight approach | 0 | 0
Other equity exposure | 0 | 0
PD/LGD approach | 0 | 0
Other non-credit obligation assets | 1,962 | 157

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 531

in € million | 2024
| Risk-weighted exposure | Capital requirement
Total risk exposure amount for settlement/delivery | 18 | 1
Settlement/delivery risk in the non-trading book | 0 | 0
Settlement/delivery risk in the trading book | 18 | 1
Total risk exposure amount for position, foreign exchange and commodities risk | 8,873 | 710
Risk exposure amount for position, foreign exchange and commodities risks under standardized approaches (SA) | 7,586 | 607
Traded debt instruments | 935 | 75
Equity interests | 123 | 10
Particular approach for position risk in CIUs | 5 | 0
Foreign exchange | 6,495 | 520
Commodities | 28 | 2
Risk exposure amount for position, foreign exchange and commodities risks under internal models (IM) | 1,288 | 103
Total risk exposure amount for operational risk | 16,218 | 1,297
OpR standardized (STA) /alternative standardized (ASA) approaches | 16,218 | 1,297
OpR advanced measurement approaches (AMA) | 0 | 0
Total risk exposure amount for credit valuation adjustments | 195 | 16
Standardized method | 195 | 16
Other risk exposure amounts | 2,292 | 183

Regulatory capital ratios

in per cent | 2025 | 2024
Common equity tier 1 ratio (transitional) | 17.9% | 17.1%
Tier 1 ratio (transitional) | 19.6% | 19.0%
Total capital ratio (transitional) | 21.7% | 21.5%

Leverage ratio
The leverage ratio is defined in Part 7 of the CRR. As at 31 December 2025, there is a mandatory quantitative requirement of
3 per cent according to article 92 of the CRR:

in € million | 2025 | 2024
Leverage exposure | 221,527 | 230,650
Tier 1 capital | 19,776 | 18,178
Leverage ratio in per cent (transitional) | 8.9% | 7.9%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
532 Consolidated financial statements
Overview of the calculation methods that are applied to determine total capital requirements in the subsidiaries:

| Credit risk | Market risk | Operational risk
Unit | Non-Retail | Retail |  |
Raiffeisen Bank International AG, Vienna (AT) | IRB | STA | Internal model, STA | BIC
Raiffeisenbank a.s., Prague (CZ) | IRB | IRB | STA | BIC
Raiffeisen Bank Zrt., Budapest (HU) | IRB | IRB | STA | BIC
Tatra banka a.s., Bratislava (SK) | IRB | IRB | STA | BIC
Raiffeisen Bank S.A., Bucharest (RO) | IRB | IRB | STA | BIC
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo (BA) | IRB | IRB | STA | BIC
Raiffeisenbank Austria d.d., Zagreb (HR) | IRB | IRB | STA | BIC
Raiffeisen Banka a.d., Novi Beograd (RS) | IRB | IRB | STA | BIC
AO Raiffeisenbank, Moscow (RU) | IRB | STA | STA | BIC
Raiffeisen Bank Sh.a., Tirana (AL) | IRB | IRB | STA | BIC
Kathrein Privatbank Aktiengesellschaft, Vienna (AT) | STA | STA | n/a | BIC
Raiffeisen Bausparkasse Gesellschaft m.b.H., Vienna (AT) | IRB | IRB | n/a | BIC
Raiffeisen stavebni sporitelna a.s., Prague (CZ) | STA | IRB | STA | BIC
All other units | STA | STA | n/a | BIC

IRB: Internal Ratings Based Approach
Internal model for open currency position risks and general interest rate risk in the trading book
STA: Standardized Approach
BIC: Business Indicator Component Approach
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 533
· Key figures
Alternative Performance Measures (APM)
The Group uses alternative performance measures in its financial reporting, not defined by IFRS or CRR regulations, to describe
RBI Group's financial position and performance. These should not be viewed in isolation but treated as supplementary
information.
These key figures are often used in the financial sector to analyze and describe the earnings and financial position. The special
items used below to calculate some alternative performance measures arise from the nature of Group’s business, i.e. that of a
universal banking group. However, it is to mention that the definitions mostly vary between companies. Please find the
definitions of these ratios below.
Consolidated return on equity – The profitability ratio is calculated from the ratio between the adjusted consolidated result
and the average consolidated equity. The adjusted consolidated result consists of the consolidated result reported in the
income statement less the other comprehensive income recycling effects in the course of deconsolidation reclassified into
income statement as well as the dividend on the additional tier 1 capital. The consolidated equity is the capital attributable to
the shareholders of RBI. It is calculated on an average monthly basis excluding capital of non-controlling interests and without
consolidated result.
Cost/income ratio is an economic metric and shows the company’s costs in relation to its income. The ratio gives a clear view
of operational efficiency. Banks use the cost/income ratio as an efficiency measure for steering the bank and for easily
comparing its efficiency with other financial institutions. General administrative expenses (excluding transaction tax) in
relation to operating income (less transaction tax and before impairment) are calculated for the cost/income ratio. General
administrative expenses comprise staff expenses, other administrative expenses, and depreciation/amortization of intangible
and tangible fixed assets. Operating income comprises net interest income, dividend income, current income from investments
in associates, net fee and commission income, net trading income and fair value result, net gains/losses from hedge
accounting and other net operating income.
Effective tax rate (ETR) – Relation of income tax expense to profit before tax. The effective tax rate differs from the
company’s jurisdictional tax rate due to many accounting factors and enables a better comparison among companies. The
effective tax rate of a company is the average rate at which its pre-tax profits are taxed. It is calculated by dividing total tax
expense (income taxes) by profit before tax. Total tax expense includes current income taxes and deferred taxes.
Loan/deposit ratio is used to assess a bank’s liquidity. It is calculated with loans to non-financial corporations and households
in relation to deposits from non-financial corporations and households.
Net interest margin – This profitability ratio is calculated with net interest income set in relation to average interest-bearing
assets (total assets less investments in subsidiaries and associates, tangible fixed assets, intangible fixed assets, tax assets
and other assets).
NPE – Non-performing exposure – It contains all non-performing loans and debt securities according to the applicable
definition of the CRR, EBA document Implementing Technical Standards (ITS) on Supervisory Reporting (Forbearance and non-
performing exposures).
NPL – Non-performing loans – It contains all non-performing loans according to the applicable definition of the CRR, EBA
document Implementing Technical Standards (ITS) on Supervisory Reporting (Forbearance and non-performing exposures).
NPE ratio is an economic ratio to demonstrate the proportion of non-performing loans and debt securities in relation to the
entire loan portfolio of customers and banks, and debt securities. The ratio reflects the quality of the loan portfolio of the bank
and provides an indicator for the performance of RBI's credit risk management.
NPL ratio is an economic ratio to demonstrate the proportion of non-performing loans in relation to the entire loan portfolio to
customers and banks. The ratio reflects the quality of the loan portfolio of the bank and provides an indicator for the
performance of RBI's credit risk management.
NPE coverage ratio describes to which extent non-performing loans and debt securities have been covered by impairments
(Stage 3) thus expressing the ability of a bank to absorb losses from its NPE. It is calculated with impairment losses on loans to
customers and banks and on debt securities set in relation to non-performing loans to customers and banks and debt
securities.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
534 Consolidated financial statements
NPL coverage ratio describes to which extent non-performing loans have been covered by impairments (Stage 3) thus
expressing the ability of a bank to absorb losses from its NPL. It is calculated with impairment losses on loans to customers
and banks set in relation to non-performing loans to customers and banks.
Operating result is used to describe the operative performance of a bank for the reporting period. It consists of operating
income less general administrative expenses.
Operating income – They are primarily income components of the ongoing business operations (before impairment). It
comprises net interest income, dividend income, current income from investments in associates, net fee and commission
income, net trading income and fair value result, net gains/losses from hedge accounting and other net operating income.
Provisioning ratio is an indicator for development of risk costs and provisioning policy of an enterprise. It is computed by
dividing impairment or reversal of impairment on financial assets (customer loans) by average customer loans.
Return on assets (ROA before/after tax) is a profitability ratio and measures how efficiently a company can manage its
assets to produce profits during a period. It is computed by dividing profit before tax/after tax by average assets (based on
total assets, calculated on a monthly average).
Return on equity (ROE before/after tax) provides a profitability measure for both management and investors by expressing
the profit for the period as presented in the income statement in relation to the average equity. Return on equity
demonstrates the profitability of the bank on the capital invested by its shareholders and thus the success of their investment.
Return on equity is a useful measure to easily compare the profitability of a bank with other financial institutions. Return on the
total equity including non-controlling interests, i.e. profit before tax respectively after tax in relation to average equity on the
statement of financial position. Average equity is calculated on month-end figures including non-controlling interests and does
not include current year profit.
Return on risk-adjusted capital (RORAC) is a ratio of a risk-adjusted performance management and shows the yield on the
risk-adjusted capital (economic capital). The return on risk-adjusted capital is computed by dividing consolidated profit
excluding the accumulated effects in the course of deconsolidation reclassified from other comprehensive income to the
income statement by the risk-adjusted capital (i.e. average economic capital). This capital requirement is calculated within the
economic capital model for credit, market, and operational risk.
Total capital specific key figures
Common equity tier 1 ratio – Common equity tier 1 as a percentage of total risk-weighted assets (RWA) according to CRR/CRD
IV regulation.
Leverage ratio – The ratio of tier 1 capital to all exposures on and off the statement of financial position insofar as they are
not deducted when determining the capital measurand. The calculation is in accordance with the methodology set out in CRD
IV.
Total risk-weighted assets (RWA) – Risk-weighted assets (credit risk, CVA risk) including market risk and operational risk.
Tier 1 ratio – Tier 1 capital to total risk-weighted assets (RWA).
Total capital ratio – Total capital as a percentage of total risk-weighted assets (RWA).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Consolidated financial statements 535
· List of abbreviations
AI Artificial intelligence
AR6 Sixth Assessment Report
BIC Business Indicator Component Approach
BP Basis Points
BWG Austrian Banking Act (Bankwesengesetz)
CapEx Capital Expenditures
CDS Credit Default Swap
CE Central Europe
CEE Central and Eastern Europe
CEO Chief Executive Officer
CET 1 Common Equity Tier 1
CFO Chief Financial Officer
CIB Corporate and Investment Banking
CIO Chief Information Officer
CoE Cost of Equity
CO 2 Carbon dioxide
COO Chief Operating Officer
CRD Capital Requirements Directives
CRO Chief Risk Officer
CRR Capital Requirements Regulation
CSO Chief Security Officer
CSR Corporate Social Responsibilty
CSRD Corporate Sustainability Reporting Directive
DACH Region German (D), Austria (A) and Switzerland (CH)
DCF Discounted Cash-Flow
DDoS Distributed Denial of Service
DORA Digital Operational Resilience Act
DSR Data Subject Right (Recht der betroffenen Person)
EACB European Association of Co-operative Banks
EAD Exposure at Default
EBA European Banking Authority
ECL Expected Credit Losses
ECB European Central Bank
EE Eastern Europe
EFRAG European Financial Reporting Advisory Group
ESAEG Deposit Protection and Investor Compensation Act
ESG Environmental, Social and Governance
ESOMAR European Society for Opinion and Marketing Research
ESMA European Securities and Markets Authority
ESRS European Sustainability Reporting Standards
EVI Electronic Disclosure and Information Platform
FMA Financial Market Authority
FMSB Financial Market Stability Board
GAR Green Asset Ratio
GDP Gross Domestic Product
GDPR General Data Protection Regulation
GHG Greenhouse Gas
GWH Gigawatt-hour
HQLA High Quality Liquid Assets
HR Human Resources
IAS/IFRS International Accounting Standards/International Financial
Reporting Standards
IASB International Accounting Standards Board
IBOR Interbank Offered Rate
ICAAP Internal Capital Adequacy Assessment Framework
ICC International Chamber of Commerce
ICMA International Capital Markets Association
ICS Internal Control System
IFC International Finance Corporation
IFRS International Financial Reporting Standards
ILO International Labour Organization
InvFA Investment Fund Act
IPCC Intergovernmental Panel on Climate Change
IPS Institutional Protection Scheme
IRB Internal Ratings Based
ISMS Information Security Management System
ITS Implementing Technical Standards
KPIs Key Performance Indicators
KWh Kilowatt-hour
KYC Know Your Customer
LCR Liquidity Coverage Ratio
LGBTQIA+Lesbian, Gay, Bisexual, Transsexual, Queer, Intersexual, Asexual
LGD Loss Given Default
MIFID Markets in Financial Instruments Directive
MREL Minimum Requirement for Own Funds and Eligible Liabilities
MWh Megawatt-hour
NACE Nomenclature of Economic Activities
NaDiVeG Sustainability and Diversity Improvement Act. (Nachhaltigkeits- und
Diversitätsverbesserungsgesetzes)
NFRD Non Financial Reporting Directive
NGEU NextGenerationEU-Fonds
NGFS Network for Greening the Financial System
NPE Non-Performing Exposure
NPL Non-Performing Loans
NSFR Net Stable Funding Ratio
OECD Organization for Economic Cooperation and Development
OTC Over The Counter
PCAF Partnership for Carbon Accounting Financials
PD Past Due
PEPP Pandemic Emergency Purchase Programme
POCI Purchased or Originated Credit Impaired
PRB Principles of Responsible Banking
RBI Raiffeisen Bank International Group
RBI AG Raiffeisen Bank International Aktiengesellschaft
RWA Risk-Weighted Assets
RORAC Return on Risk Adjusted Capital
SA Standardized Approach
SA-CCR Standardized Approach to Counterparty Credit Risk
SBC Sustainability Bond Committee
SBTi Science Based Targets Initiative
SDA Sectoral Decarbonization Approach
SDG Sustainable Development Goals
SEE Southeastern Europe
SICR Significant Increase in Credit Risk
SIRP Special Interest Rate Period
SRB Systemic Risk Buffer
SREP Supervisory Review and Evaluation Process
TLTRO Targeted Longer-Term Refinancing Operations
UN United Nations
UNEP FI UN Environment Programme Finance Initiative
VaR Value-at-Risk
WACC Weighted Average Cost of Capital
WHO World Health Organization
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
536 Consolidated financial statements
· Events after the reporting
date
There were no significant events after the reporting date.
.
Signed by:
Vienna, 17 February 2026
The Management Board

Johann Strobl m.p. Chairman of the Board, CEO | Marie-Valerie Brunner m.p. Member of the Board, CIB Customer Coverage and CIB Products & Solutions
Andreas Gschwenter m.p. Member of the Board, COO/CIO | Kamila Makhmudova m.p. Member of the Board, CFO
Hannes Mösenbacher m.p. Member of the Board, CRO | Andrii Stepanenko m.p. Member of the Board, Retail Banking

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
537 Statement of all legal representatives
Statement of all legal
representatives
We confirm to the best of our knowledge that the consolidated financial statements give a true and fair view of the assets,
liabilities, financial position and profit or loss of the Group as required by the applicable accounting standards and that the
group management report gives a true and fair view of the development and performance of the business and the position of
the Group, together with a description of the principal risks and uncertainties the Group faces.
This also applies (where applicable) to the consolidated non-financial statement, which is part of the group management
report and has been prepared to the best of our knowledge in accordance with the regulations of the Corporate Sustainability
Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) and, in particular, contains the
information necessary to understand the impact of the group's activities on sustainability aspects as well as the impact of
sustainability aspects on the group's business development, business results and situation and reports on how this information
was determined. Furthermore, we confirm that the information according to Article 8 Taxonomy Regulation (EU) 2020/852, in
conjunction with Delegated Regulation (EU) 2021/2178, has been determined to the best of our knowledge.
Signed by:
Vienna, 17 February 2026
The Management Board

Johann Strobl m.p. Chairman of the Board, CEO | Marie-Valerie Brunner m.p. Member of the Board, CIB Customer Coverage and CIB Products & Solutions
Andreas Gschwenter m.p. Member of the Board, COO/CIO | Kamila Makhmudova m.p. Member of the Board, CFO
Hannes Mösenbacher m.p. Member of the Board, CRO | Andrii Stepanenko m.p. Member of the Board, Retail Banking

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
538 Service
Independent Auditor's
Report
Report on the Audit of the Consolidated Financial Statements
Opinion
We have audited the accompanying consolidated financial statements of Raiffeisen Bank International AG, Vienna (“Bank”), and
its subsidiaries (“Group”), which comprise the statement of financial position as at 31 December 2025, the statement of
comprehensive income, the statement of changes in equity and the statement of cash flows for the financial year then ended,
and notes to the consolidated financial statements.
In our opinion, the consolidated financial statements comply with legal requirements and give a true and fair view of the
consolidated financial position of the Group as at 31 December 2025, and its financial performance and its consolidated cash
flows for the year then ended in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, the
additional requirements under section 245a UGB (Austrian Commercial Code) and the Austrian Banking Act.
Basis for Opinion
We conducted our audit in accordance with Regulation (EU) No. 537/2014 and with the Austrian Generally Accepted Auditing
Standards. Those standards require the application of the International Standards on Auditing (ISAs). Our responsibilities under
those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
section of our report. We are independent of the Group in accordance with laws and regulations applicable in Austria and we
have fulfilled our other professional responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained up to the date of our report is sufficient and appropriate to provide a basis for our opinion as of that date.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the
consolidated financial statements of the current period. These matters were addressed in the context of our audit of the
consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on
these matters.
The following matters were of most significance to our audit:
1. Expected credit losses for loans and advances to non-financial corporations and households
2. Adequacy of “provision” for foreign currency loans in the branch in Poland
1. Expected credit losses for loans and advances to non-financial corporations and households
Description and Issue
Loans and advances to non-financial corporations and households are reported under the balance sheet item "Financial assets
- amortized cost" with an amount of EUR 90.8 billion after deduction of valuation allowances of EUR 2.1 billion. Loans and
advances to non-financial corporations amount to EUR 47.3 billion and loans and receivables to households EUR 43.5 billion.
The bank describes the process for monitoring credit risk and the procedure for determining impairment losses in Note 31
“Expected credit losses” and Note 41 “Credit risk” in the Notes to the consolidated financial statements.
Calculations of expected credit losses for individually significant exposures in default are based on losses determined based on
various weighted scenarios. These are based on the assessment of the economic situation and development of the respective
customer, the valuation of collateral, and the estimate of the amount and timing of the recoveries derived from these. The
allowances for defaulted, individually non-significant receivables are determined on the basis of common risk characteristics.
The valuation parameter are based on statistical data as well as assumptions about future developments.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Independent Auditor's Report 539
For not defaulted receivables, the expected credit loss for the next twelve months or – in case of a significant increase in credit
risk since initial recognition – for the entire remaining lifetime is recognized (Stage 1 and Stage 2).
Significant estimates and assumptions are required in determining the expected credit loss. These include rating-based
probabilities of default, the expected development of the outstanding amount at the time of default and loss rates. The
estimates consider current and forward-looking information.
If the input parameter, assumptions and models do not cover all relevant risk factors, the Bank temporarily uses management
overlays. The calculation of expected credit losses and the additional provisions from management overlays are based on
assumptions and estimates that give rise to significant uncertainties regarding the amount of the expected credit losses.
Therefore, we have determined the expected credit losses for loans and advances to non-financial corporations and
households as a key audit matter.
Our response
In testing expected credit losses for loans and advances to non-financial corporations and households, we performed the
following significant audit procedures:
• We assessed the methodologies used to determine expected credit losses and their compliance with IFRS 9.
• We analyzed the documentation of the processes of monitoring loans and risk provisioning, and critically assessed
whether these processes are suitable for identifying loan losses and adequately reflecting the recoverability of
exposures. We also assessed the processes and tested key controls regarding their design and implementation,
including the relevant IT systems, and tested their effectiveness on a sample basis.
• By performing analytical audit procedures, we examined the development of receivables with regard to the key
characteristics relevant to the classification of the loan, such as quality, type of care, rating and level allocation
throughout the year and in comparison with the previous year.
• We tested individual exposures selected based on a sample determined according to risk criteria. For defaulted
loans, we assessed the Bank's estimates of the amount and timing of recoveries, considering collateral, and
examined whether the assumptions used in the calculation were appropriate and derivable from internal or external
evidence. For non-defaulted loans, we examined whether indicators of default exist.
• In order to assess the appropriateness of the expected credit losses for non-defaulted loans (Stage 1 and Stage 2),
we examined the plausibility of assumptions, and the statistical/mathematical appropriateness of the models used,
as well as the proper application of the models. In particular, we examined the assumptions in connection with
forward-looking information and management overlays. Furthermore, we examined the appropriateness of the
assumptions “probability of default”, “loss given default” and the level allocation model, taking into account the
results of the Bank's internal validations, and reperformed selected calculation steps. In addition, IT specialists tested
the effectiveness of key automated controls of the IT systems relevant for the calculation.
• Finally, we assessed whether the disclosures in the notes to the consolidated financial statements regarding the
calculation of expected credit losses and the significant assumptions and estimation uncertainties are appropriate.
2. Adequacy of “provisions” for foreign currency loans of the branch in Poland
Description and Issue
As at December 31, 2025, the Bank has recorded in total “provisions” in connection with foreign currency loans of the branch in
Poland in the amount of EUR 1,956 million.
The Bank describes the legal risk, the procedure for determining the “provision” and related uncertainties in the chapter
“Poland” in Note 45 “Pending legal issues” of the notes to the consolidated financial statements.
The necessary assumptions about the future behavior of borrowers and former borrowers, the court decisions and the
duration of those include considerable estimation uncertainties and room for judgment in determining the amount of the
“provision”. Therefore, we have determined the adequacy of the “provision” for foreign currency loans of the branch in Poland
to be a key audit matter.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
540 Independent Auditor's Report
Our Response
In particular, we performed the following audit procedures in testing the adequacy of the “provision”:
• We assessed the Bank's processes and controls for determining the provision, and their suitability for ensuring the
determination of an appropriate “provision”.
• We verified the plausibility and critically assessed the Bank's method for determining the “provision”, including the
derivation of the underlying assumptions and their appropriateness.
• We verified the mathematical accuracy of the Bank's calculations.
• We have obtained information from lawyers commissioned by the Bank to deal with the issue and critically
evaluated it.
• We reviewed the disclosure of the risks in the notes to the consolidated financial statements for appropriateness.
Other Information
Management is responsible for the other information. Other information comprises all information in the Annual Financial
Report and in the Annual Report, but does not include the annual financial statements, management report, consolidated
financial statements, the consolidated management report and the related auditor's reports thereon.
Except for the report of the Supervisory Board, we received the other information prior to the date of this auditor's report. The
report of the Supervisory Board is expected to be made available to us after this date.
Our opinion on the consolidated financial statements does not cover this other information and we do not express any form of
assurance thereon. With respect to the information in the consolidated management report we refer to the section “Report on
the Audit of the Consolidated Management Report”.
In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in
doing so, consider whether it is materially inconsistent with the consolidated financial statements or our knowledge obtained
in the audit or otherwise appears to be materially misstated.
If, based on our work performed on the other information obtained prior to the date of the auditor's report, we conclude that
there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in
this regard.
Responsibilities of Management and the Audit Committee for the Consolidated
Financial Statements
Management is responsible for the preparation of the consolidated financial statements that give a true and fair view in
accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, the additional requirements under
section 245a UGB and the Austrian Banking Act, and for such internal control as management determines is necessary to
enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud
or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The audit committee is responsible for overseeing the Group's financial reporting process.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Independent Auditor's Report 541
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
Regulation (EU) No 537/2024 and with Austrian Generally Accepted Auditing Standards, which require the application of the
ISAs, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions
of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with Regulation (EU) No 537/2014 and with Austrian Generally Accepted Auditing Standards,
which require the application of the ISAs, we exercise professional judgement and maintain professional skepticism throughout
the audit.
We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the
Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the
disclosures, and whether the consolidated financial statements represent the underlying transactions and events in
a manner that gives a true and fair view.
• Plan and perform the audit to obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Group to be able to give an opinion on the consolidated financial
statements. We are responsible for the direction, supervision and performance of the group audit. We remain
responsible for our audit opinion.
We communicate with the audit committee regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide the audit committee with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on
our independence and, where applicable, related safeguards.
From the matters communicated with the audit committee, we determine those matters that were of most significance in the
audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in
extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
542 Independent Auditor's Report
Other statutory and legal requirements
Report on the Consolidated Management Report
Pursuant to statutory provisions, the consolidated management report is to be audited as to whether it is consistent with the
consolidated financial statements and whether it has been prepared in accordance with the applicable legal requirements.
With respect to the consolidated non-financial statement included in the consolidated management report, our responsibility
is to determine whether it had been prepared, to read it and, in doing so, consider whether it is materially inconsistent with the
consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.
Management is responsible for the preparation of the consolidated management report in accordance with the Austrian
Commercial Code.
We conducted our audit in accordance with laws and regulations applicable with respect to the consolidated management
report.
Opinion
In our opinion, the consolidated management report is prepared in accordance with the applicable legal requirements, includes
appropriate disclosures according to section 243a UGB and it is consistent with the consolidated financial statements.
Statement
In the light of the knowledge and understanding of the Group and its environment obtained in the course of our audit of the
consolidated financial statements, we have not identified material misstatements in the consolidated management report.
Other Matters according to Article 10 of EU Regulation (EU) 537/2014
We were appointed as auditor by the shareholders' meeting on 4 April 2024 and commissioned by the supervisory board on 17
April 2024 to audit the consolidated financial statements for the financial year ending 31 December 2025. In addition, we were
appointed as auditor for the following financial year by the annual shareholders' meeting on 26 March 2025 and commissioned
by the supervisory board on 27 March 2025. We have been the auditor, without interruption since the financial year ending 31
December 2021.
We confirm that our opinion in the section "Report on the Audit of the Consolidated Financial Statements" is consistent with
the additional report to the audit committee referred to in Article 11 of Regulation (EU) No 537/2014.
We declare that we did not provide non-audit services referred to in Article 5 par. 1 of Regulation (EU) No 537/2014 and that we
remained independent from the Group in conducting the audit.
Engagement Partner
The engagement partner responsible for the audit is Peter Bitzyk.
Qualified electronically signed by:
Vienna, 17 February 2026

Deloitte Audit Wirtschaftsprüfungs GmbH
Peter Bitzyk
Certified Public Accountant

Publication or sharing with third parties of the consolidated financial statements together with our auditors' opinion is only
allowed if the financial statements and the management report are identical with the audited version. This audit opinion is
only applicable to the German and complete financial statements with the management report. Section 281 para 2 UGB applies
to alternated versions.
This translation of the Auditor’s Report is for convenience purposes only. Only the German original version is legally valid and
binding.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Assurance report on the consolidated non-financial statement 543
Assurance report on
the consolidated non-
financial statement
Report on the Independent Audit of the Consolidated Non-Financial
Statement for the Fiscal Year 2025
Assurance Report by the Independent Auditor
We have conducted an audit to obtain limited assurance on the consolidated non-financial statement included in the group
management report section "Consolidated Non-Financial Statement" of Raiffeisen Bank International AG for the fiscal year
ending December 31, 2025.
Summary Assessment based on an Audit with Limited Assurance
Based on the audit procedures performed and the evidence obtained, nothing has come to our attention that causes us to
believe that the consolidated non-financial statement included in the group management report section "Konsolidierte
nichtfinanzielle Erklärung" is not, in all material respects, in accordance with the requirements of § 267a UGB (NaDiVeG),
including
• compliance with the voluntarily applied European Sustainability Reporting Standards (hereinafter ESRS),
• implementation of the procedure for identifying information to be reported according to ESRS (hereinafter
"Materiality Assessment Process") and its presentation in the chapter “Management der Auswirkungen, Risiken und
Chancen",
• compliance with the reporting requirements according to Art. 8 of the Taxonomy Regulation (EU) 2020/852
(hereinafter EU-Taxonomy Regulation)
Basis for the Summary Assessment
We conducted our audit with limited assurance in accordance with the legal provisions and relevant Austrian professional
standards for other assurance engagements and supplementary statements, as well as with the International Standard on
Assurance Engagements (ISAE 3000 (Revised)) applicable to such engagements. An engagement with limited assurance
involves less extensive assurance procedures than an engagement with reasonable assurance, thereby resulting in a lower
level of assurance.
Our responsibilities under these regulations and standards are further described in the section "Responsibilities of the Auditor
of the Consolidated Non-Financial Statement" of our assurance report.
We are independent of the group in accordance with the Austrian professional standards and Art. 22 ff. AP-RL, and we have
fulfilled our other professional duties in accordance with these requirements.
Our audit firm is subject to the provisions of the KSW-PRL 2022, which essentially correspond to the requirements of ISQM 1, and
applies a comprehensive quality management system, including documented policies and procedures to comply with ethical
requirements, professional standards, and applicable legal and regulatory requirements.
We believe that the audit evidence we have obtained up to the date of the assurance report is sufficient and appropriate to
provide a basis for our summary assessment as of that date.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
544 Assurance report on the consolidated non-financial statement
Other Information
The legal representatives are responsible for the other information. The other information comprises all information in the
2024 annual report (“Geschäftsbericht”) of the company, except for the consolidated non-financial statement and our
assurance report.
Our summary assessment of the consolidated non-financial statement does not cover the other information and we will not
express any form of assurance conclusion thereon. In connection with our audit of the consolidated non-financial statement,
our responsibility is to read the other information and, in doing so, consider whether it is material inconsistent with the
consolidated non-financial statement or with our knowledge obtained during the engagement with limited assurance or
otherwise appears to be materially misstated. If, based on the work we performed, we conclude that a material misstatement
of the other information exists, we are required to report that fact. We have nothing to report in this regard.
Responsibilities of the Legal Representatives and the Supervisory Board
The legal representatives are responsible for preparing a consolidated non-financial statement, including developing and
implementing the Materiality Assessment Process in accordance with applicable requirements and voluntarily applied
standards. This responsibility includes
• identifying actual and potential impacts, risks, and opportunities related to sustainability aspects and assessing the
materiality of these impacts, risks, and opportunities,
• preparing the consolidated non-financial statement in compliance with the requirements of § 267a UGB (NaDiVeG),
• including information in the consolidated non-financial statement in accordance with the EU-Taxonomy Regulation
as well as
• designing, implementing, and maintaining internal controls determined necessary by the legal representatives to
enable the preparation of the consolidated non-financial statement that is free from material misstatement,
whether due to fraud or error, and conducting the Materiality Assessment Process in accordance with ESRS
requirements.
This responsibility also includes selecting and applying appropriate methods for consolidated non-financial reporting and
making assumptions and estimates about individual sustainability information, which are reasonable under the given
circumstances.
The supervisory board is responsible for overseeing the Materiality Assessment Process and the preparation of the
consolidated non-financial statement.
Inherent limitations in the Preparation of the Consolidated Non-Financial Statement
When reporting on future-oriented information, the group is required to prepare this future-oriented information based on
disclosed assumptions about events that may occur in the future, as well as possible future actions of the group. Deviations
are likely as expected events often do not occur as assumed.
When determining information in accordance with the EU Taxonomy Regulation, the legal representatives are obliged to
interpret ambiguous legal terms. These terms can be subject to various interpretations, including their legal compliance and
are therefore subject to uncertainties.
Responsibilities of the Auditor of the Consolidated Non-Financial Statement
Our objectives are to plan and conduct an audit to obtain limited assurance as to whether the consolidated non-financial
statement, including the Materiality Assessment Process presented therein and the reporting according to the EU Taxonomy
Regulation is free from material misstatement, whether due to fraud or error, and to issue a report that includes our summary
assessment. Misstatements can result from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic decisions of intended users taken on the basis of the consolidated
non-financial statement.
Throughout the engagement with limited assurance, we exercise professional judgment and maintain professional skepticism.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Assurance report on the consolidated non-financial statement 545
Our responsibilities include
• performing risk-based procedures to identify and assess the risks of material misstatement in the consolidated non-
financial statement, whether due to fraud or error, and obtaining sufficient appropriate evidence to address those
risks, but not for the purpose of expressing an opinion on the effectiveness of the group's internal controls, and
• developing and performing audit procedures related to information in the consolidated non-financial statement,
where material misstatements are likely. The risk of not detecting material misstatements resulting from fraud is
higher than those resulting from errors, as fraudulent activities may involve collusion, forgery, intentional omissions,
misleading representations, or the override of internal controls.
Summary of the Work Performed
An engagement with limited assurance involves performing procedures to obtain evidence about the consolidated non-
financial statement. The nature, timing, and extent of the procedures selected depend on professional judgment, including
identifying information in the consolidated non-financial statement where material misstatements could occur, whether due
to fraud or error.
In performing our audit to obtain limited assurance regarding the consolidated non-financial statement, we proceed as
follows:
• We gain an understanding of the company's procedures relevant to the preparation of the consolidated non-
financial statement.
• We assess whether all relevant information identified in the Materiality Assessment Process is included in the
consolidated non-financial statement.
• We assess whether the structure and presentation of the consolidated non-financial statement are in accordance
with ESRS.
• We conduct inquiries with relevant personnel and analytical audit procedures on selected information in the
consolidated non-financial statement.
• We perform sample-based outcome-oriented audit procedures on selected information in the consolidated non-
financial statement.
• We reconcile selected information in the consolidated non-financial statement with corresponding information in
the group financial statements and other sections of the group management report.
• We obtain evidence on the methods used to develop estimates and forward-looking information.
• We gain an understanding of the process for identifying taxonomy-eligible and taxonomy-aligned business activities
and preparing the corresponding information in the consolidated non-financial statement.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
546 Assurance report on the consolidated non-financial statement
Limitation of Liability and Publication
The audit to obtain limited assurance of the consolidated non-financial statement is a voluntary assurance engagement.
We issue this assurance report based on the engagement letter concluded with the Company, which also applies to third
parties on the basis of the General Conditions of Contract for the Public Accounting Professions (AAB 2018). The AAB 2018 can
be accessed online on the website of the Chamber of Tax Advisors and Auditors (KSW - Kammer der Steuerberater:innen und
Wirtschaftsprüfer:innen, under the section Berufsrecht / Mandatsverhältnis).
Concerning our responsibilities and liability arising from the engagement relationship, point 7 of the AAB 2018 applies.
Consequently, our liability for slight negligence is excluded. In the case of gross negligence, the maximum liability for the
company and third parties is five times the received fee, but is limited to a maximum of ten times the minimum insurance sum
of the professional liability insurance according to § 11 Wirtschaftstreuhandberufsgesetz 2017 (WTBG 2017). This amount
constitutes the maximum liability limit, applicable only once, even in the event of multiple claimants or grounds for claims.
Compensation claims for damages is restricted to actual damage. We are liable for lost profits only in cases of intent or gross
negligence, to the extent permitted by law. We are not liable for unforeseeable or atypical damages that we could not have
anticipated.
The assurance report may only be disclosed to third parties in conjunction with the consolidated non-financial statement, as
presented in the group management report under the section “Konsolidierte nichtfinanzielle Erklärung” and must be provided in
its entirety and without any abridgement.
Responsible Auditor
The auditor responsible for the audit of the Consolidated Non-Financial Statement is Mag. Alfred Ripka.
Qualified electronically signed:
Vienna, 17 February 2026

Deloitte Audit Wirtschaftsprüfungs GmbH
Mag. Alfred Ripka | Dr. Peter Bitzyk
Wirtschaftsprüfer | Wirtschaftsprüfer

The publication or distribution of the consolidated non-financial statement with our assurance report shall only take place in
the version confirmed by us. This assurance report refers exclusively to the complete German wording of the consolidated non-
financial statement. This report is a translation of the assurance report and is presented for the convenience of the reader
only. The German wording of the assurance report is solely valid and is the only legally binding version.
Raiffeisen Bank
International AG
Annual Financial
Statements
2025
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
548

Annual Financial Statements | 549
Statement of financial position | 549
Income statement | 551
Notes | 552
General disclosures | 552
Recognition and measurement principles | 553
Notes to the statement of financial position | 560
Notes to the income statement | 589
Other | 593
Events after the reporting date | 597
Management report | 598
Market development | 598
Business performance at Raiffeisen Bank International AG | 601
Branches and representative offices | 605
Financial Performance Indicators | 606
Capital, share, voting and control rights | 611
Non-financial Performance Indicators | 613
Intangible resources | 613
Corporate Governance | 615
Risk report | 616
Internal control and risk management system in relation to the accounting process | 636
Outlook | 639
Statement of all legal representatives pursuant to § 124 (1) Z 3 Austrian Stock Exchange Act | 642
Independent Auditor’s Report | 643

In this report RBI denotes the RBI Group. If RBI AG is used it denotes Raiffeisen Bank International AG. Head office refers to Raiffeisen
Bank International AG excluding branches.
Adding and subtracting rounded amounts in tables and charts may lead to minor discrepancies. Changes in tables are based on not
rounded amounts.
The report in English is a translation of the original German report. The only authentic version is the German version.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
549 Annual financial statements
Annual Financial
Statements
· Statement of financial
position

| ASSETS | 31/12/2025 | 31/12/2024
|  | in € | in € thousand
1. | Cash in hand and balances with central banks | 4,458,588,189.11 | 7,802,335
2. | Treasury bills and other bills eligible for refinancing with central banks | 14,024,087,935.66 | 10,803,280
3. | Loans to banks | 11,622,166,349.31 | 14,596,507
| a) Repayable on demand | 2,545,805,626.70 | 2,656,469
| b) Other loans and advances | 9,076,360,722.61 | 11,940,039
4. | Loans to customers | 28,155,445,147.12 | 27,618,821
5. | Debt securities and other fixed-income securities | 4,226,881,983.17 | 3,619,755
| a) Issued by public bodies | 250,561,675.49 | 147,874
| b) Issued by other borrowers | 3,976,320,307.68 | 3,471,881
| hereof own financial instruments | 1,188,025,228.98 | 1,207,576
6. | Shares and other variable-yield securities | 926,020,656.83 | 866,527
7. | Equity interests | 91,268,442.65 | 79,984
| hereof: in credit institutions | 33,909,666.83 | 28,837
8. | Investments in affiliated companies | 9,152,677,391.41 | 8,939,701
| hereof: in credit institutions | 938,399,690.89 | 944,589
9. | Intangible fixed assets | 15,255,789.16 | 17,337
10. | Tangible fixed assets | 13,649,571.49 | 15,830
11. | Other assets | 6,310,915,916.46 | 7,606,944
12. | Deferred income and accrued expenses | 112,991,074.58 | 107,368
13. | Deferred tax assets | 644,462.13 | 738
| Total | 79,110,592,909.08 | 82,075,127

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
550 Annual financial statements

| EQUITY AND LIABILITIES | 31/12/2025 | 31/12/2024
|  | in € | in € thousand
1. | Deposits from banks | 21,575,315,232.69 | 25,503,419
| a) Repayable on demand | 2,646,965,470.18 | 4,675,855
| b) With agreed maturity dates or periods of notice | 18,928,349,762.51 | 20,827,565
2. | Deposits from customers | 17,127,562,052.81 | 17,740,795
| a) Savings deposits | 0.00 | 0
| b) Other liabilities | 17,127,562,052.81 | 17,740,795
| aa) Repayable on demand | 5,645,580,715.72 | 5,623,419
| bb) With agreed maturity dates or periods of notice | 11,481,981,337.09 | 12,117,376
3. | Debt securities issued | 20,290,268,452.93 | 19,165,186
| a) Debt securities issued | 18,663,908,032.79 | 17,527,347
| b) Other securitized liabilities | 1,626,360,420.14 | 1,637,839
4. | Other liabilities | 4,869,688,668.12 | 4,710,813
5. | Deferred income and accrued expenses | 246,900,230.80 | 239,322
6. | Provisions | 1,702,891,452.68 | 1,533,955
| a) Provisions for severance payments | 49,172,113.08 | 53,133
| b) Provisions for pensions | 43,044,032.18 | 56,022
| c) Provisions for taxation | 41,957,977.64 | 34,604
| d) Other | 1,568,717,329.78 | 1,390,196
7. | Supplementary capital pursuant to chapter 4 of title I of part 2 of regulation (EU) no 575/2013 | 2,027,500,000.00 | 2,278,528
8. | Additional Tier 1 capital pursuant to chapter 3 of title I of part 2 of regulation (EU) no 575/2013 | 1,655,072,860.06 | 1,832,142
9. | Subscribed capital | 1,001,134,604.70 | 1,001,664
| a) Share capital | 1,003,265,844.05 | 1,003,266
| b) Nominal value of own shares | (2,131,239.35) | (1,602)
10. | Capital reserves | 4,425,280,953.46 | 4,429,136
| a) Committed | 4,340,692,085.17 | 4,335,669
| b) Uncommitted | 84,588,868.29 | 93,467
11. | Retained earnings | 2,405,331,202.96 | 2,400,734
| a) Legal reserve | 5,500,000.00 | 5,500
| b) Other reserves | 2,399,831,202.96 | 2,395,234
12. | Liability reserve pursuant to article 57 (5) | 535,097,489.59 | 535,097
13. | Net profit for the year | 1,248,549,708.28 | 704,335
| Total | 79,110,592,909.08 | 82,075,127

Items off the statement of financial position

| ASSETS | 31/12/2025 | 31/12/2024
|  | in € | in € thousand
1. | Foreign assets | 44,742,884,592 | 44,710,442

| EQUITY AND LIABILITIES | 31/12/2025 | 31/12/2024
|  | in € | in € thousand
1. | Contingent liabilities | 7,317,058,803.00 | 7,477
| Guarantees and assets pledged as collateral security | 7,317,058,803.00 | 7,477
2. | Commitments | 21,959,510,945.00 | 20,158
| hereof: liabilities from repurchase agreements | 0.00 | 0
3. | Commitments arising from agency services | 154,038,207.08 | 179,909
4. | Eligible own funds according to part 2 of regulation (EU) no 575/2013 | 11,315,588,587.59 | 11,921,976
| hereof: supplementary capital pursuant to chapter 4 of title I of part 2 of regulation EU) no 575/2013 | 2,026,487,053.32 | 2,208,093
5. | Capital requirements pursuant to Article 92 of Regulation (EU) No 575/2013 | 37,338,375,841.50 | 37,123,819
| hereof: capital requirements pursuant to article 92 (1) (a) to (c) of regulation (EU) no 575/2013 |  |
| a) hereof: Common Equity Tier 1 capital ratio pursuant to Article 92 (a) | 20.6% | 21.4%
| b) hereof: Tier 1 capital ratio pursuant to Article 92 (b) | 24.9% | 26.2%
| c) hereof: total capital ratio pursuant to Article 92 (c) | 30.3% | 32.1%
6. | Foreign liabilities | 19,033,127,169.44 | 21,985,750

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Annual financial statements 551
· Income statement

|  | 31/12/2025 | 31/12/2024
|  | in € | in € thousand
1. | Interest receivable and similar income | 2,118,767,273.20 | 2,936,955
| hereof: from fixed-income securities | 371,742,793.96 | 289,457
2. | Interest payable and similar expenses | (1,793,750,490.53) | (2,608,559)
I. | NET INTEREST INCOME | 325,016,782.67 | 328,396
3. | Income from securities and participating interests | 1,388,616,273.15 | 2,278,249
| a) Income from shares and other variable-yield securities | 58,346,157.14 | 62,188
| b) Income from participating interests | 14,918,359.49 | 13,760
| c) Income from shares in affiliated undertakings | 1,315,351,756.52 | 2,202,301
4. | Fee and commission income | 539,579,393.48 | 568,518
5. | Fee and commission expenses | (194,825,574.37) | (209,790)
6. | Net profit or net loss on financial operations | 19,364,908.44 | 110,859
7. | Sundry operating income | 288,602,212.54 | 300,404
II. | OPERATING INCOME | 2,366,353,995.91 | 3,376,636
8. | General administrative expenses | (964,463,849.40) | (1,018,738)
| a) Staff costs | (534,556,252.94) | (534,106)
| hereof: aa) Wages and salaries | (421,406,540.60) | (413,293)
| bb) Expenses for statutory social contributions and compulsory contributions related to wages and salaries | (94,829,363.60) | (90,098)
| cc) Other social expenses | (10,356,441.15) | (9,852)
| dd) Expenses for pensions and assistance | (14,040,984.35) | (14,576)
| ee) Allocation/Release of provision for pensions | 12,974,095.17 | 5,452
| ff) Expenses for severance payments and contributions to severance funds | (6,897,018.41) | (11,738)
| b) Other administrative expenses | (429,907,596.46) | (484,631)
9. | Value adjustments in respect of asset items 9 and 10 | (9,367,587.21) | (12,100)
10. | Sundry operating expenses | (448,029,121.50) | (827,649)
III. | OPERATING EXPENSES | (1,421,860,558.11) | (1,858,487)
IV. | OPERATING RESULT | 944,493,437.80 | 1,518,149
11./12. | Net income/expenses from the disposal and valuation of loans and advances and securities classified as current assets | (185,583,302.71) | (176,110)
13./14. | Net income/expenses from the disposal and valuation of securities evaluated as financial investments and of shares in affiliated companies and participating interests | 207,960,473.13 | (1,187,561)
V. | PROFIT ON ORDINARY ACTIVITIES | 966,870,608.22 | 154,478
15. | Current income taxes | 19,935,552.99 | 12,354
16. | Other taxes not reported under item 15 | (77,313,349.81) | (23,109)
17. | Result from Business Combinations | 0.00 | 164,185
VI. | PROFIT FOR THE YEAR AFTER TAX | 909,492,811.40 | 307,908
18. | Changes in reserves | (4,596,847.40) | (24,557)
| hereof: allocation to liability reserve | 0.00 | 0
VII. | NET INCOME FOR THE YEAR | 904,895,964.00 | 283,351
19. | Profit/Loss brought forward | 343,653,744.28 | 420,984
VIII. | Net profit for the year | 1,248,549,708.28 | 704,335

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
552 Notes
Notes
· General disclosures
Raiffeisen Bank International AG (RBI AG] is registered in the company register at the Commercial Court of Vienna under FN
122119m. Its registered office is at Am Stadtpark 9, 1030 Vienna. The annual financial statements are deposited at the company
register court and published in the Austrian Electronic Announcement and Information Platform of the Federation (EVI).
The annual financial statements for the year ending 31 December 2025 were prepared by the Management Board in
accordance with the Austrian Commercial Code (UGB) as amended by the latest version of the Austrian Financial Reporting
Amendment Act (RAG), taking into account the special provisions of the Austrian Banking Act (BWG), including the CRR
Regulation 575/2013/EU and the Austrian Stock Corporation Act (AktG).
According to Section 221 (Size categories) of the Austrian Commercial Code (UGB), RBI AG qualifies as a large corporation. It is a
public interest entity pursuant to Section 43 (1a) of the Austrian Banking Act (BWG) in conjunction with Section 189a of the
Austrian Commercial Code. RBI AG is a corporate and investment bank for companies in Austria and for large corporate
customers in Western Europe. RBI has one of the largest networks held by Western banking groups in Central and Eastern
Europe (CEE). It transacts business in this region through subsidiary banks, leasing companies and numerous specialized
financial service providers with some 1,300 branches. In Austria, RBI AG is also active in the areas of housing finance, leasing,
asset management, pension funds, factoring and private banking. RBI’s 18.6 million clients include commercial clients, small and
medium-sized entities, private individuals, financial institutions and government entities. In addition, RBI is the lead institution
of the Raiffeisen Banking Group Austria (RBG) and serves as the central institution of the Raiffeisen regional banks as defined
by the Austrian Banking Act (BWG).
RBI AG has branch offices in Bratislava, Frankfurt, London, Warsaw, Singapore and Beijing.
As shares in the company are traded on a regulated market within the meaning of Section 1 (2) BörseG (prime market of the
Vienna Stock Exchange) and numerous securities issued by RBI AG are admitted to a regulated market in the EU, RBI AG has to
publish annual consolidated financial statements in accordance with Section 59a of the Austrian Banking Act (BWG) in
compliance with IFRS accounting standards. These consolidated financial statements are published on the Internet (https://
www.rbinternational.com/en/investors/reports.html).
As a credit institution within the meaning of Section 1 of the Austrian Banking Act (BWG), RBI AG is subject to the regulatory
oversight of the Financial Market Authority, Otto-Wagner-Platz 5, A-1090 Vienna (www.fma.gv.at) and the European Central
Bank, Sonnemannstrasse 20 D-60314 Frankfurt am Main (www.bankingsupervision.europa.eu).
The disclosure requirements set out in Part 8 of the EU Regulation 575/2013 on prudential requirements for credit institutions
(Capital Requirements Regulation, CRR) are published online on the bank’s website at https://www.rbinternational.com/en/
investors/reports.html.
Statutory deposit guarantee and investor protection
scheme –Austrian Raiffeisen-Sicherungseinrichtung
eGen
In March 2021, RBI AG, its Austrian subsidiary banks, the regional Raiffeisen banks and the local Raiffeisen banks concluded an
agreement on a new institutional protection scheme (Raiffeisen-IPS) in accordance with Article 113 (7) CRR (Capital
Requirements Regulation of the European Union). Under the agreement, the participating institutions undertake to provide
mutual cover and, in particular, to ensure each other's liquidity and solvency if necessary. This new Raiffeisen-IPS was approved
in May 2021 by the competent supervisory authorities ECB and FMA as an institutional protection scheme within the meaning
of Article 113 (7) CRR with the associated rights and obligations of the participating institutions. According to one of the
provisions of the agreement, exposures between Raiffeisen-IPS members may be assigned a risk weight of zero per cent.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 553
Raiffeisen-IPS is subject to joint regulatory supervision, according to which the capital adequacy requirements must be
complied with on a consolidated basis.
The Austrian Raiffeisen-Sicherungseinrichtung eGen (ÖRS) performs early risk identification and reporting tasks for Raiffeisen-
IPS. ÖRS also manages the liquid special assets of Raiffeisen-IPS as trustee.
The Raiffeisen-IPS is controlled by a joint risk council, comprising representatives of RBI AG, the regional Raiffeisen banks and
the Raiffeisen banks. Tasks that could be solved on a regional level were delegated to the regional risk councils, each
comprising representatives of the respective regional Raiffeisen banks and Raiffeisen banks, by the joint risk council.
· Recognition and
measurement principles
General principles
The annual financial statements are prepared in accordance with the principles of proper accounting, the disclosure and
valuation rules of the Austrian Banking Act, and taking into account standard practice as described in Section 222 (2) of the
Austrian Commercial Code (UGB), to give a true and fair view of the company's net assets, financial position and earnings.
The consolidated financial statements were prepared in compliance with the consistency principle.
Assets and liabilities are valued on the principle of individual valuation and on the assumption that the company will continue
to exist as a going concern. The principle of prudence is applied, taking into account the special characteristics of the banking
business.
Amounts in foreign currencies
Assets and liabilities in foreign currencies are converted at the ECB’s reference exchange rates as at 31 December 2025
pursuant to Section 58 (1) of the Austrian Banking Act (BWG). F orward currency transactions are converted at the forward rate
as at 31 December 2025 pursuant to Section 58 (2) BWG.
As the ECB stopped publishing an official EUR/RUB exchange rate at the beginning of March 2022, RBI AG was forced to
generate a valid alternative exchange rate. For EUR/RUB, official conversion rates (onshore rates), which are set by the Russian
Central Bank or on the basis of data from the Moscow Stock Exchange, and effectively achievable conversion rates (offshore
rates), such as those disseminated by Bloomberg, sprang up on foreign exchange markets. Due to the current restrictions,
payment flows with Russia are assumed to not be convertible at the official exchange rate. Since EUR/RUB transactions with
international banks are usually settled at offshore rates, the latter are more likely to reflect the actual and effectively
achievable exchange rate. Consequently, an offshore EUR/RUB exchange rate is used for the valuation of RUB transactions and
assets in RBI AG as of the reporting date.
Fair value measurement
Stock market prices are used to determine the fair value of listed products. If stock market prices are not available, prices for
original financial instruments and forward transactions are determined based on the calculated present value. The prices for
options are determined based on suitable option price models. The calculation of present value is based on a yield curve
derived from money-market, futures and swap rates and does not include a credit spread. Option pricing formulas as
described by Black-Scholes 1972, Black 1976 and Garman-Kohlhagen are used together with other common models for the
valuation of structured options.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
554 Notes
The price definition of OTC derivatives involves both value adjustments for the counterparty’s probability of default (credit
value adjustment – CVA) as well as adjustments for own credit risk (debit value adjustment – DVA). The CVA involves, first, the
determination of the expected positive exposure and, second, the counterparty’s probability of default. The DVA is determined
by the expected negative exposure and RBI AGs credit quality.
To determine the expected positive exposure, a large number of scenarios for future points in time are simulated, reflecting all
available risk factors (e.g. currency and yield curves). Having regard to these scenarios, the over-the-counter OTC derivatives
are measured at market value and aggregated at counterparty level to finally determine the positive exposure for all the
dates.
As a further component for the CVA, a probability of default has to be determined for each counterparty. If CDS (credit default
swap) quotes are available, RBI AG derives the market-based probability of default for the respective counterparty and
implicitly the loss-given default (LGD). To determine the probability of default of counterparties that are not actively traded in
the market, the counterparty’s internal rating is assigned to a sector- and rating-specific CDS curve.
The DVA is determined by the expected negative exposure and RBI’s credit quality and represents the value adjustment with
regard to RBI AG’s own probability of default. The calculation is similar to that used for the CVA. From the simulated future
aggregated counterparty market values, negative, rather than positive, exposures are determined. These represent the
expected liability to the counterparty at the respective future dates. RBI uses a CDS index curve for financial institutions
corresponding to its rating to determine its own probability of default.
The capital-guaranteed products (guarantee funds and pension funds) are reported as put options sold on the respective
funds to be guaranteed. Valuation is based on a Monte Carlo simulation and is in accordance with the framework conditions
stipulated by law pursuant to Section 57 of the Austrian Banking Act.
Financial instruments in the banking book
Securities intended to serve business purposes on a permanent basis (investment portfolio) are valued as fixed assets. The
difference between the purchase cost and repayment amount is recognized under financial assets and written off or
recognized over the residual term according to the effective interest method.
Securities held as current assets have been valued at amortized cost or, if lower, at the stock market price or fair value (strict
lower of cost or market principle). If the value increases in the following year, any reversals of impairment losses are
recognized, but only up to a maximum of amortized cost.
RBI AG uses interest management derivatives to hedge interest rate risks in accordance with the accounting regulations
pertaining to hedging relationships and functional units, as outlined in AFRAC 15 Derivatives and Hedging Instruments and the
FMA Circular on Accounting issues relating to interest rate derivatives and valuation adjustments for derivatives.
Derivatives on interest rates (interest rate swaps, interest rate options and forward rate agreements) and derivatives on
exchange rates (cross currency interest rate swaps and forward exchange transactions) are accounted for according to the
accrued interest method, in which interest amounts are accrued for each period.
In designating derivatives as part of effective micro hedging transactions, compensatory valuation of the underlying
transaction and hedging derivative takes place.
RBI AG uses interest rate swaps to hedge the interest rate risk from assets (bonds and loans) and liabilities (own issues,
promissory notes and custodian business) on the statement of financial position. Fixed cash flows are exchanged for variable
cash flows to minimize the interest rate risk. The currency risk is economically hedged by currency-related derivatives such as
cross currency swaps, FX swaps or FX forward contracts.
When the requirements are met, the aforementioned derivatives form part of a valuation unit pursuant to AFRAC 15 Derivative
Financial Instruments. Since the underlying transactions are offset by cash flows recognized through profit and loss, a negative
market value of the derivatives is not reported in the annual financial statements, with the exception of a pro rata negative
derivative market value that exceeds the hidden reserves of the underlying transaction. This must be taken into account as a
provision for impending loss.
The effectiveness of the hedging relationships is measured on a prospective and retrospective basis. On designation, the
effectiveness is reviewed by a prospective effectiveness test with 100 basis point shifts in the yield curve. The effectiveness is
measured retrospectively on a monthly basis using the dollar offset method or a regression analysis. For measuring the
effectiveness using regression analysis, a set of 20 data points is used to determine the required calculation parameters used
for the retrospective effectiveness test. A hedge is deemed to be effective if changes in the fair value of the underlying and
hedging transaction are in a range of 80-125 per cent.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 555
In addition, there are macro hedges for managing interest rate risk in the banking book to offset opposing effects in the
income statement using interest rate swaps. Hedging relationships are also maintained at macro level using sold interest rate
options (interest rate floors) for the purpose of hedging variable financial instruments with embedded floors against the
interest rate and volatility risks received.
Here too, monthly effectiveness tests are employed to secure the effectivity of the macro hedges. Suitable scenarios are used
to demonstrate that the changes in value of the hedged items and hedging transactions largely offset each other. The
scenario calculation includes a parallel shift of +/- 100 basis points. Effectiveness is given, if the changes in the present value of
the underlying and hedging transactions are opposing and changes in the present value of the hedging transactions are lower
than those of the underlying transactions.
Derivatives that do not meet the criteria of a trading book are managed in the banking book. With these, the focus is not on
short-term gains but on achieving income or managing interest rate risk through positioning based on medium- to long-term
market opinion. Provided they are not part of a micro-hedge relationship, these derivatives are administrated in defined
portfolios in order to guarantee a documented mapping to functional units. Within these functional units an imparity-based
valuation takes place. For a negative accounting balance per functional unit a provision for impending loss will be allocated,
while a positive accounting balance will be unrecognized.
Derivatives of the banking book, which are not administered in functional units or hedge relationships, are valued according to
the imparity principle. In the case of negative market values, a provision for impending loss will be allocated. The disclosure is
shown in the income statement under position 7 and/or 10 – Other operating income/Other operating expenses. Credit default
swaps have the following effect on the income statement: The margins received or paid (including accruals) are reported under
net commission income. Formation and amendment are conducted in adherence to the imparity principle under the tenants of
prudence. A provision for impending losses is recognized for negative market values..
Financial instruments in the trading book
The securities in the trading portfolio are measured at fair value. In the absence of observable market rates or prices, the fair
value is determined using valuation models. All derivatives transactions in the trading book are also recognized at fair value.
Loans and advances
Loans and advances are generally recognized at amortized cost, taking into account the effective interest method. Acquisition
cost is the starting point for the valuation. In the case of an original financial asset, the cost of acquisition is generally equal to
the amount paid out, including any incidental acquisition costs. In the case of acquired loans, the cost of acquisition is
measured by reference to the purchase price. When exercising the above-mentioned measurement option in relation to
securities recognized as fixed assets in accordance with section 56 BWG, any difference between the acquisition cost and the
repayment amount is deferred and reported in net interest income. On every reporting date, an assessment is conducted to
determine whether there is objective evidence that an asset or group of assets is impaired. Impairments are in any case
accounted for by loan loss provisions either in the form of specific loan loss provisions or portfolio-based loan loss provisions. If
the reasons for an impairment no longer apply, the impairment is reversed up to the cost of acquisition after reversing the
difference (premium/discount).
Net provisioning for impairment losses
The IFRS 9 credit risk provisioning model is also applied in accordance with commercial law for the determination of credit risk
provisions. Expected credit losses for credit risks on assets, risks for credit commitments and off-balance sheet credit risks
from financial guarantees and letters of credit are recognized as impairments and determined according to the change in
credit risk from the date of addition. Impairment losses on existing loans are deducted from the carrying amount at amortized
cost in the statement of financial position. Provisions are recognized for impairment losses on loan commitments, financial
guarantees and letters of credit.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
556 Notes
Depending on the change in credit risk between the date of initial recognition and the measurement date, the financial
instruments are classified into one of three impairment stages:
· Stage 1 covers all newly recognized financial instruments as well as those for which the credit risk has not increased
significantly since initial recognition. In addition, Stage 1 comprises all financial instruments that have a low credit
risk and for which RBI AG makes use of the low credit risk exemption. Selected sovereign debt securities with an
investment-grade level credit rating as of the reporting date are considered to have a low credit risk. This rule is not
applied in the lending business. For loans, an impairment loss is recognized for the expected 12-month loss on initial
recognition. Loans from Stage 2 for which the credit risk has significantly improved are reclassified and recognized in
Stage 1. A Stage 1 impairment loss is added to the portfolio-based impairment allowances in the impairment
allowance reconciliation (12-month loss).
· Stage 2 contains financial instruments for which the credit risk has increased significantly since initial recognition
but no default has yet occurred. For these receivables, an impairment loss is calculated on the basis of the lifetime
expected loss and also recognized as a portfolio-based impairment allowance.
· Stage 3 covers financial instruments that are classified as impaired as at the reporting date. For the purposes of the
definition of default, RBI AG applies the conditions stipulated under Article 178 CRR. For defaults on financial
instruments in Stage 3, the expected credit loss over the entire remaining term of the financial instrument is also to
be recognized as an impairment loss.
RBI AG employs a range of policies to mitigate credit risk, the most common of which is the acceptance of collateral for loans
and advances provided. A valuation of collateral is performed during the credit approval process. This is subsequently reviewed
and renewed periodically depending on the type of underlying collateral. The main types of collateral which are accepted by
RBI AG are residential and commercial real estate collateral, financial collateral, guarantees, and moveable goods. With
commercial and residential real estate in particular, special attention is paid during the valuation review and revaluation to the
adjustment of the valuation parameters to the market environment and the expected medium-term development, so that the
collateral is valued in a prudent and sustainable manner. Long-term financing is generally secured, while revolving credit
facilities are generally unsecured.
Portfolio-based loan loss provisions
For loans made in Austria by RBI AG, the expected loss for Stages 1 and 2 is calculated on an individual transaction basis
applying statistical risk parameters derived from the IRB approach and adjusted to the requirements of IFRS 9. Stage 1 and 2
impairment allowances for foreign currency-denominated loans are recognized on a portfolio level. Additional details
pertaining to this subject can be referenced in the section addressing litigation risk associated with foreign currency loans in
Poland. The most important inputs for calculating expected credit losses are:
· The probability of default (PD) is the probability with which a borrower will be unable to meet its payment
obligations either within the next twelve months or over the entire remaining term.
· Exposure at default (EAD) corresponds to the amount at the time of default owed to RBI AG over the next twelve
months or over the entire term.
· The loss given default (LGD) corresponds to the expectation at RBI AG relating to the loss amount in the event of
default.
The estimation of risk parameters includes not only historical default information but also the current economic environment
(point-in-time orientation) and forward-looking information. In particular, the bank’s macroeconomic forecasts are reviewed
regularly in relation to their impact on the level of expected credit losses, and such forecasts are integrated into the related
calculations. For this purpose, a baseline scenario is applied based on current RBI Research forecasts relating to key
macroeconomic parameters, supplemented by other model-relevant macroeconomic parameters. In addition to the base
scenario, Raiffeisen Research has also compiled both an optimistic and a pessimistic scenario to ensure that non-linearity is
captured in its models. For the pessimistic and optimistic scenarios, the methodology was adjusted due to the high level of
uncertainty associated with the current geopolitical situation (war in Ukraine).
Models are used to estimate the probability of default (PD), the associated loss-given-default (LGD) and the outstanding
amount at the exposure of default (EAD). In addition to existing, historically reliable modelled risks, new risks arise - such as
geopolitical uncertainties, risks in relation to energy supply and environmental risks. In the absence of sufficient historic data,
these risks cannot be identified using existing statistical models. However, in order to guarantee appropriate risk provisioning,
these risks are incorporated through management overlays in the ECL calculation. They can be broken down as follows:
· Overlays: These are adjustments that can be undertaken outside the model, i.e. after the application of the model.
Post-model adjustments (PMA) are included in this category.
· In-model adjustments: These are adjustments that are made within the IFRS 9 model. This covers the adjustments to
model inputs, model parameters or ad-hoc adjustments to the model and the model calibration (whereby the
change of model parameters such as LGD or PD, by incorporating forward-looking macroeconomic information, is
not considered a management overlay).
·
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 557
ESG factors are not yet explicitly included in the ECL modelling but are nonetheless incorporated in the calculation via overlays.
Individual loan loss provisions
Impairments are recognized on an individual basis for financial instruments that are classified as having defaulted on the
reporting date. RBI employs the definition of default as the criteria here. RBI AG uses the provisions of Article 178 CRR for the
purposes of the definition of default.
The existence of a default is assessed in relation to quantitative and qualitative triggers. Firstly, an asset is considered to be in
default if contractual payments are more than 90 days past due. Secondly, if there are significant financial difficulties and it is
unlikely that payment obligations can be met. This definition of default has been applied consistently in RBI AG’s expected
credit loss calculations to model the probability of default, the exposure at default and the loss given default.
Objective evidence of impairment leading to the recognition of an individual impairment allowance exists, in particular, if the
counterparty is experiencing significant financial difficulties, a breach of contract (e.g. default or delinquency in interest or
principal payments) has occurred, or a high probability exists bankruptcy or another form of financial reorganization will be
initiated against the borrower.
Loans for which there is objective evidence of impairment are tested for impairment. For this purpose, the expected default
amount is calculated as the difference between the expected repayments of principal, interest payments and collateral
proceeds and the gross carrying amount of the loan. The expected repayment amounts are discounted in accordance with
their probability of occurrence and the scenarios, weighted using the effective interest rate. The loan is recognized in the
balance sheet less the lifetime expected loss. The resulting net carrying amount is used as the basis for calculating future
interest income.
General individual impairment allowances for retail lending in the Polish branch are recognized based on the best statistically
derived estimate of the expected loss after adjusting for indirect costs.
Investments and shares in affiliated companies
Investments and shares in affiliated companies are carried at cost unless sustained losses, a reduction in their equity or other
indicators require them to be written down to their fair value. They are written up to no more than their cost of acquisition if
the reasons for the long-term impairment no longer apply.
Investments and shares in affiliated companies are valued at the end of each financial year (and on ad-hoc basis) by means of
an impairment test. Their fair value is determined during the test.
Fair value is generally calculated using a discounted cash flow model. This calculates the enterprise value as the present value
of future financial profits. The dividend discount model, which is employed for investment companies operating in the financial
services sector, also accounts for the specific characteristics of the banking business, including the need to comply with capital
adequacy regulations. The present value of the expected future dividends that should be distributed to the shareholders after
meeting all appropriate capital adequacy regulations represents the recoverable amount. Accordingly, under the weighted
average cost of capital (WACC) model for investment companies outside the financial services sector, the fair value of total
capital is determined in a first step on the basis of free cash flows and, in a second step, the recoverable amount is determined
by deducting net financial debt. For financial holding structures, the recoverable amount is determined on the basis of a sum-
of-parts observation, where the expected holding costs were deducted accordingly.
The recoverable amount is calculated based in principal on a three to five-year detailed planning period. Significant planning
uncertainties, which came about to some extent as a result of the direct consequences of the crisis in Ukraine, were taken into
account in scenario analyses. The sustainable future (permanent dividend phase) is generally based on a going concern
assumption (perpetuity). In most cases, the income used for the valuation is assumed to grow at a country-specific nominal
rate based on the projected long-term inflation rate. If companies are significantly overcapitalized, an interim phase of five
years is defined without extending the detailed planning phase. During this period, these companies can distribute full
dividends without violating capital adequacy regulations. In the permanent dividend phase, earnings must be retained as the
company grows in order to continue to comply with capital adequacy regulations. Earnings retention is not required if no
growth is expected in the permanent dividend phase.
In the permanent dividend phase, the model assumes a normalized, economically sustainable earnings situation in which the
return on equity and the costs of equity or cost of capital converge.
According to AFRAC 24 (margin no 16), liquidation value is generally the lower bound of any investment valuation absent any
legal or de facto constraints to continue the investee company. Liquidation value is defined as the pro rata breakup value of
the assets minus the liabilities held by the entity.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
558 Notes
Tangible and intangible fixed assets
Intangible fixed assets and tangible fixed assets are valued at acquisition or production cost less scheduled depreciation.
Scheduled depreciation is on a straight-line basis (pro rata temporis). An impairment loss is recognized if an asset is
permanently impaired below its carrying amount.
Scheduled depreciation is based on the following periods of use:

Useful life | Years | Useful life | Years
Buildings | 50 | Software | 4 to 10
Office equipment | 3 to 5 | Hardware | 3
Office fixtures and fittings | 5 to 10 | Business equipment | 5 to 10
Vehicles | 5 | Tenancy rights | currently n/a

Low-value fixed assets are written off in full in the year of acquisition.
Issuance expenses
Issuance and management fees and premiums or discounts for bonds issued are distributed over the given term of the
obligation using the effective interest method. Other issuance expenses are expensed immediately.
Pension and severance payment obligations
The provisions for pension and severance payment obligations are determined in accordance with IAS 19 – Employee Benefits –
based on the projected unit credit method.
The actuarial calculation of pension obligations for active employees is based on an interest rate of 4.05 per cent (31/12/2024:
3.28 per cent) p.a. and an effective pensionable salary increase of 3.0 per cent in the first year, 2.1 per cent in the second year
and 2.3 per cent in subsequent years (2024: 4.1 per cent in the first year, 3.2 per cent in the second year and 3.1 per cent in the
third year, as well as 3.1 per cent in subsequent years). The parameters for retired employees are calculated using a
capitalization rate of 4.05 per cent (31/12/2024: 3.28 per cent) per year and an expected increase in retirement benefits of 3.0
per cent in the first year, 2.1 per cent in the second year and 2.3 per cent in subsequent years (2024: 4.1 per cent in the first year,
3.2 per cent in the second year and 3.1 per cent in the third year, as well as 3.1 per cent in subsequent years) and in the case of
pension commitments with existing reinsurance policies of 0.5 per cent (31/12/2024: 0.5 per cent). The calculations are based on
an assumed retirement age of 65, subject to transitional statutory requirements for women as well as special arrangements
contained in individual contracts.
The basis for the calculation of provisions for pensions continues to be provided by the AVÖ 2018-P Rechnungsgrundlagen für
die Pensionsversicherung (Computational Framework for Pension Insurance), using the variant for salaried employees.
The actuarial calculation of severance provisions is based on an interest rate of 3.96 per cent and of 4.05 per cent for long-
service bonus obligations (31/12/2024: 3.28 per cent for severance payments and long-service bonus obligations) and 3.75 per
cent for death benefits (2024: 3.12 per cent) per annum. Claims to future birthday bonuses no longer exist from 2024. Average
salary increases of 3.0 per cent in the first year, 2.1 per cent in the second year and 2.3 per cent in subsequent years (31/12/2024:
4.1 per cent in the first year, 3.2 per cent in the second year and 3.1 per cent in subsequent years) were applied.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 559
Other provisions
Other provisions are recorded at the level at which they are likely to be required. They take into account all identifiable risks
and liabilities, the level of which is not yet known. Long-term provisions are currently discounted in accordance with § 211 (2) of
the Austrian Commercial Code (UGB), whereby they are discounted at a standard market rate if the effect of discounting is
deemed material on the basis of the swap rate for zero-coupon euro bonds plus a surcharge calculated on the basis of euro
corporate bonds with a very high credit rating. Provisions for litigation costs for lawsuits filed in connection with foreign
currency loans in Poland (please refer to the section titled Litigation risk for foreign currency loans in Poland for details on the
accounting method applied and any changes made to such method) were discounted at a rate of 3.74 per cent (31/12/2024:
5.27 per cent).
Other provisions include provisions for bonuses for identified staff (pursuant to European Banking Authority CP 42, 46). RBI AG
fulfills the obligations set forth in the Annex to Section 39b of the Austrian Banking Act (BWG) as follows: 60 per cent of the
annual bonus is paid out 50 per cent as an upfront cash payment and 50 per cent by way of a phantom share plan with a
retention period of one year. Forty per cent of the annual bonus is subject to a five-year deferral period and likewise paid out
50 per cent in cash and 50 per cent by way of the phantom share plan. If the bonus accounts for a particularly high amount
(currently defined as bonus amounts that exceed € 175,000 or 100 per cent of the fixed annual salary), 60 per cent of the bonus
amount is deferred. The phantom shares are converted on allocation and payment each using the average price of the
preceding financial year.
Liabilities
These are recognized at the higher of the nominal value or the repayment amount. The difference between the issue and
repayment amount is allocated according to the effective interest rate.
Zero-coupon bonds are recognized at nominal value plus accrued interest on a pro rata basis up to the reporting date.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
560 Notes
· Notes to the statement of
financial position
Assets
Loans and advances
Breakdown of maturities
Loans and advances to credit institutions, loans and advances to customers and other assets are broken down by their
residual terms as follows:

in € thousand | 31/12/2025 | 31/12/2024
Loans to banks | 11,622,166 | 14,596,507
Repayable on demand | 2,545,806 | 2,656,469
Up to 3 months | 6,211,592 | 8,504,886
More than 3 months, up to 1 year | 670,967 | 395,714
More than 1 year, up to 5 years | 1,156,952 | 2,087,005
More than 5 years | 1,036,850 | 952,433
Loans to customers | 28,155,445 | 27,618,821
Repayable on demand | 3,240,431 | 3,858,638
Up to 3 months | 4,058,980 | 4,441,145
More than 3 months, up to 1 year | 3,140,585 | 2,927,251
More than 1 year, up to 5 years | 12,593,694 | 12,371,570
More than 5 years | 5,121,755 | 4,020,218
Other assets | 6,310,916 | 7,606,944
Up to 3 months | 4,577,898 | 4,878,648
More than 3 months, up to 1 year | 1,201,815 | 2,201,690
More than 5 years | 531,203 | 526,606

The risk section of the management report includes more details about the distribution of loans and advances on a regional
basis.
Net provisioning for impairment losses
Credit loss allowances and provisions are determined in line with the section Recognition and measurement principles into
three impairment stages, and are deducted from the corresponding asset items in accordance with Section 226 (5) of the
Austrian Commercial Code (UGB). As at the reporting date, individual impairment allowances (Stage 3) amounted to € 423,360
thousand (31/12/2024: € 1,120,695 thousand), of which € 2,429 thousand (31/12/2024: € 2,390 thousand) was accounted for by
off-balance sheet commitments that are recognized under provisions. Portfolio-based impairment allowances (Stage 1 and
Stage 2) amounted to € 176,041 thousand (31/12/2024: € 108,865 thousand), of which € 50,994 thousand (31/12/2024: € 29,094
thousand) was accounted for by off-balance sheet commitments that are recognized under provisions. Changes in impairment
from transfers that moved in the reporting period from 12-month expected losses (Stage 1) to lifetime expected losses (Stage 2
and Stage 3) and vice versa, are as follows:
· Increase in impairment changes from 12-month expected losses to lifetime expected losses in the amount of
€ 95,417 thousand (2024: € 93,581 thousand)
· Decrease in impairment changes from lifetime expected losses to 12-month expected losses in the amount of
€ 65,262 thousand (2024: € 37,643 thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 561
Derivative financial instruments
Interest rate management derivatives
Hedges with hedging periods up to 2044 existed as at 31 December 2025, which are found in measurement units as outlined in
AFRAC 15 Derivatives and Hedging Instruments, as well as in macro hedges in accordance with the FMA circular on accounting
issues relating to interest rate derivatives and valuation adjustments for derivatives.
Derivative financial instruments for hedging interest rate risks are used for underlying transactions on both the assets and
liabilities side. As of the reporting date, risks from bonds and loans are hedged on the assets side, and risks from own issues,
registered bonds, promissory note loans and deposits are hedged on the liabilities side using micro and macro hedges (fair
value hedges).
The fair values of the hedging transactions (i.e. excluding accrued interest) for the existing micro and macro hedging
relationships together amount to a positive market value of € 85,094 thousand (31/12/2024: € 72,182 thousand), of which in
detail € 226,208 thousand (31/12/2024: € 153,661 thousand) is attributable to positive market values and € 141,114 thousand
(31/12/2024: € 225,843 thousand) to negative market values.
The following table shows the volumes and market values incl. accrued interest of derivatives in micro hedging relationships:

| 31/12/2025 | 31/12/2024
in € thousand | Nominal amount | Positive values | Negative values | Nominal amount | Positive values | Negative values
Mikro-Hedge active | 22,002,546 | 317,594 | 0 | 21,889,795 | 224,062 | 0
Mikro-Hedge passive | 5,578,342 | 0 | (165,522) | 4,611,333 | 0 | (246,126)

As at 31/12/2025, provisions of € 23,653 thousand for impending losses for ineffectiveness (31/12/2024: € 27,450 thousand) were
taken into account in the balance sheet for the aforementioned financial instruments. In this context, the change in the market
values of these derivatives resulted in allocations of € 1,585 thousand in the financial year 2025 (31/12/2024: € 3,233 thousand)
and reversals of € 5,382 thousand (31/12/2024: € 1,585 thousand).
The following table shows the volumes and market values incl. accrued interest of derivatives in macro hedging relationships in
accordance with the FMA circular on accounting issues relating to interest rate derivatives and valuation adjustments for
derivatives.

| 31/12/2025 | 31/12/2024
in € thousand | Nominal amount | Positive values | Negative values | Nominal amount | Positive values | Negative values
Makro-Hedge | 2,885,000 | 19,931 | 0 | 4,210,000 | 28,299 | 0
Makro-Hedge 6 Monats EURIBOR | 35,000 | 2,369 | 0 | 35,000 | 3,160 | 0
Makro-Hedge Floor 3 Month EURIBOR | 2,330,000 | 15,821 | 0 | 3,355,000 | 22,265 | 0
Makro-Hedge Floor 6 Month EURIBOR | 520,000 | 1,741 | 0 | 820,000 | 2,874 | 0

As part of macro hedges, separated per 3-month and 6-month EURIBOR, variable financial instruments with embedded floors
using sold interest rate options (interest rate floors) are hedged against received interest rate and volatility risks. There is also
an additional macro-hedging relationship for hedging the interest rate risk of securitized liabilities. These macro hedges create
opposing effects in the income statement.
As in the previous year, no material settlement payments were made in the financial year 2025 in connection with derivatives in
hedging relationships. As at 31/12/2025, no provisions for impending losses for ineffectiveness (31/12/2024: € 0 thousand) were
taken into account in the balance sheet for the aforementioned financial instruments.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
562 Notes
Functional units
The portfolio-based management of functional units was summarized according to the interest risk strategy applied for the
currencies contained therein, the type of interest rate derivatives as well as the respective purpose. The table below shows the
following picture for the positive and negative fair values aggregated per currency:

| 31/12/2025 | 31/12/2024 | 2025 | 2024
in € thousand | Nominal amount | Positive portfolio-based valuation surplus | Positive portfolio-based valuation surplus | Nominal amount | Positive portfolio-based valuation surplus | Positive portfolio-based valuation surplus | Net change in Fair Value | Net change in Fair Value
CHF | 10,737 | 3 | 0 | 23,374 | 0 | (13) | 16 | 137
CZK | 31,473,116 | 8,100 | (371) | 23,332,777 | 8,210 | (1,454) | 973 | 5,754
EUR | 65,161,857 | 62,014 | (21,731) | 46,710,881 | 40,954 | (13,345) | 12,674 | 4,443
GBP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | 16,518,658 | 7,028 | 0 | 13,313,946 | 7,210 | 0 | (182) | (2,590)
NOK | 17,471 | 1 | 0 | 17,119 | 0 | 0 | 1 | (2)
PLN | 160,625 | 36 | (2,419) | 114,620 | 0 | (111) | (2,272) | 1,784
RON | 0 | 0 | 0 | 50,258 | 2 | 0 | (2) | (52)
RUB | 249,626 | 384 | 0 | 205,125 | 1,690 | 0 | (1,306) | 680
USD | 1,099,756 | 186 | (234) | 1,694,530 | 404 | (686) | 234 | 209
Total | 114,691,846 | 77,752 | (24,755) | 85,462,630 | 58,470 | (15,609) | 10,136 | 10,363

As at 31/12/2025, provisions for impending losses amounting to € 24,755 thousand (31/12/2024: € 15,945 thousand) had to be
recognized in the balance sheet for the derivatives above, which are managed in functional units. In this context, the change in
the market values of these derivatives resulted in allocations of € 10,670 thousand in the financial year 2025 (31/12/2024: € 0
thousand) and reversals of € 1,860 thousand (31/12/2024: € 22,080 thousand).
The main factors driving the valuation result were the change in the level of markets interest rates in EUR, CZK and HUF, as well
as an expansion in volume in EUR, CZK and HUF business, and a reduction in USD business.
Currency derivatives
In the financial year 2025, provisions were recognized in the amount of € 2,830 thousand (31/12/2024: € 5,424 thousand) for
impending losses on non-netted UAH transactions that were initially recognized in 2022 based on the geopolitical situation. In
the reporting year, reversals were made in the amount of € 2,594 thousand (31/12/2024: reversal of € 775 thousand) for
valuation reasons.
Credit derivatives
To a lesser extent, RBI AG also manages credit derivatives (in the form of credit default swaps), which require individual
valuation (see AFRAC 15 on Derivatives and Hedging Instruments as well as Section 201 (2) No. 3) of the Austrian Commercial
Code (UGB).
The following table shows the volumes and fair values incl. accruals:

| 31/12/2025 | 31/12/2024 | Valuation effect | Valuation effect
in € thousand | Nominal amount | Positive values | Negative values | Nominal amount | Positive values | Negative values | 2025 | 2024
EUR | 446,681 | 0 | (15,103) | 581,649 | 713 | (14,195) | (1,621) | (10,159)
Total | 446,681 | 0 | (15,103) | 581,649 | 713 | (14,195) | (1,621) | (10,159)

The provisions for impending losses as at the reporting date for the instruments above amount to € 15,103 thousand
(31/12/2024: € 14,195 thousand). In this context, the change in the market values of these derivatives resulted in allocations of
€ 2,957 thousand in the financial year 2025 (31/12/2024: € 6,706 thousand) and reversals of € 2,049 thousand (31/12/2024: € 86
thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 563
The following tables show the open forward transactions for the reporting year and the previous year:

31/12/2025 | Nominal amount by maturity |  | Fair value | Carrying amount
in € thousand | Up to 1 year | More than 1 year, up to 5 years | More than 5 years | Total | hereof trading book | positive | negative | positive | negative
Total | 91,985,877 | 129,231,876 | 136,031,76 4 | 357,249,517 | 206,620,123 | 4,216,744 | 3,507,091 | 3,819,005 | 3,233,351
a) Interest rate contracts | 45,853,030 | 118,390,435 | 130,771,878 | 295,015,343 | 149,775,432 | 3,182,809 | 2,957,883 | 2,789,452 | 2,690,175
OTC products |  |  |  |  |  |  |  |  |
Interest rate swaps | 38,675,535 | 105,373,268 | 116,285,006 | 260,333,809 | 129,911,147 | 3,038,149 | 2,866,698 | 2,667,839 | 2,603,583
Floating Interest rate swaps |  |  |  | 0 |  |  |  |  |
Interest rate futures | 2,269,147 | 0 | 0 | 2,269,147 | 2,268,147 | 390 | 477 | 390 | 477
Interest rate options - buy | 1,828,156 | 5,423,740 | 6,275,682 | 13,527,578 | 7,825,734 | 81,677 | 13,790 | 80,799 | 9,197
Interest rate options - sell | 2,624,980 | 6,491,712 | 7,545,032 | 16,661,724 | 7,547,319 | 28,068 | 71,956 | 5,899 | 71,956
Other similar interest rate contracts | 403,169 | 677,628 | 403,500 | 1,484,297 | 1,484,297 | 34,525 | 4,616 | 34,525 | 4,616
Products traded on stock exchange
Interest rate futures | 16,043 | 6,481 | 0 | 22,524 | 22,524 | 0 | 3 | 0 | 3
Interest rate options | 36,000 | 417,606 | 262,658 | 716,264 | 716,264 | 0 | 343 | 0 | 343
b) Foreign exchange rate contracts | 44,968,589 | 8,417,848 | 1,898,939 | 55,285,376 | 50,342,574 | 418,254 | 352,583 | 413,872 | 361,652
OTC products |  |  |  |  |  |  |  |  |
Cross-currency interest rate swaps | 3,707,800 | 4,658,203 | 1,779,907 | 10,145,910 | 5,295,530 | 163,482 | 87,766 | 159,100 | 96,835
Forward foreign exchange contracts | 36,937,622 | 2,731,543 | 113,117 | 39,782,282 | 39,782,283 | 242,936 | 253,074 | 242,936 | 253,074
Currency options – purchased | 2,281,630 | 157,288 | 5,915 | 2,444,833 | 2,353,347 | 6,247 | 2,272 | 6,247 | 2,272
Currency options – sold | 2,007,591 | 870,814 | 0 | 2,878,405 | 2,877,468 | 5,589 | 9,447 | 5,589 | 9,447
Products traded on stock exchange
Currency contracts (futures) | 33,946 | 0 | 0 | 33,946 | 33,946 | 0 | 24 | 0 | 24
c) Securities-related transactions | 1,079,162 | 2,322,063 | 1,430,129 | 4,831,354 | 4,831,354 | 589,973 | 141,090 | 589,973 | 141,090
OTC products |  |  |  |  |  |  |  |  |
Equity/Index options -buy | 616,693 | 2,306,087 | 1,420,065 | 4,342,845 | 4,342,845 | 587,871 | 80 | 587,871 | 80
Equity/Index options -sell | 309 | 974 | 10,064 | 11,347 | 11,347 | 0 | 125,010 | 0 | 125,010
Products traded on stock exchange
Equity/Index options | 462,160 | 15,002 | 0 | 477,162 | 477,162 | 2,102 | 16,000 | 2,102 | 16,000
d) Commodity contracts | 25,096 | 0 | 0 | 25,096 | 25,096 | 77 | 507 | 77 | 507
OTC products |  |  |  |  |  |  |  |  |
Commodities | 267 | 0 | 0 | 267 | 267 | 77 | 0 | 77 | 0
Products traded on stock exchange
Commodity futures | 24,829 | 0 | 0 | 24,829 | 24,829 | 0 | 507 | 0 | 507
e) Credit derivative contracts | 60,000 | 101,530 | 1,930,818 | 2,092,348 | 1,645,667 | 25,631 | 55,028 | 25,631 | 39,925
OTC products |  |  |  |  |  |  |  |  |
Credit default swap | 60,000 | 101,530 | 1,930,818 | 2,092,348 | 1,645,667 | 25,631 | 55,028 | 25,631 | 39,925

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
564 Notes

31/12/2024 | Nominal amount by maturity |  | Fair value | Carrying amount
in € thousand | Up to 1 year | More than 1 year, up to 5 years | More than 5 years | Total | hereof trading book | positive | negative | positive | negative
Total | 90,743,351 | 146,606,951 | 88,036,070 | 325,386,372 | 204,071,015 | 4,327,146 | 4,047,618 | 3,828,076 | 3,426,945
a) Interest rate contracts | 46,424,278 | 133,314,013 | 85,411,689 | 265,149,980 | 148,879,000 | 3,295,593 | 3,215,196 | 2,787,183 | 2,679,638
OTC products |  |  |  |  |  |  |  |  |
Interest rate swaps | 38,501,345 | 117,300,279 | 81,519,493 | 237,321,117 | 132,201,245 | 3,138,278 | 3,119,342 | 2,665,467 | 2,592,750
Floating Interest rate swaps |  |  |  | 0 |  |  |  |  |
Interest rate futures | 3,723,576 | 361,326 | 0 | 4,084,902 | 4,068,857 | 1,521 | 1,605 | 1,521 | 1,605
Interest rate options - buy | 1,342,938 | 6,203,828 | 1,275,014 | 8,821,780 | 5,421,529 | 73,737 | 19,636 | 72,401 | 10,670
Interest rate options - sell | 2,641,255 | 8,455,384 | 1,983,194 | 13,079,833 | 5,345,021 | 51,437 | 68,960 | 17,174 | 68,960
Other similar interest rate contracts | 192,976 | 665,936 | 491,320 | 1,350,232 | 1,350,232 | 30,585 | 5,648 | 30,585 | 5,648
Products traded on stock exchange
Interest rate futures | 11,910 | 5,428 | 1,178 | 18,516 | 18,516 | 0 | 5 | 0 | 5
Interest rate options | 10,278 | 321,832 | 141,490 | 473,600 | 473,600 | 35 | 0 | 35 | 0
b) Foreign exchange rate contracts | 43,402,656 | 9,641,016 | 1,515,946 | 54,559,618 | 50,096,890 | 621,757 | 657,346 | 631,098 | 585,711
OTC products |  |  |  |  |  |  |  |  |
Cross-currency interest rate swaps | 2,849,393 | 6,351,797 | 1,515,176 | 10,716,366 | 6,315,398 | 252,073 | 308,128 | 261,337 | 236,493
Forward foreign exchange contracts | 37,947,820 | 2,604,126 | 0 | 40,551,946 | 40,551,946 | 347,114 | 332,737 | 347,114 | 332,737
Currency options – purchased | 1,624,858 | 183,693 | 770 | 1,809,321 | 1,747,560 | 6,578 | 7,453 | 6,578 | 7,453
Currency options – sold | 964,238 | 501,400 | 0 | 1,465,638 | 1,465,639 | 15,992 | 8,989 | 16,069 | 8,989
Products traded on stock exchange
Currency contracts (futures) | 16,347 | 0 | 0 | 16,347 | 16,347 | 0 | 39 | 0 | 39
c) Securities-related transactions | 831,256 | 2,529,178 | 587,310 | 3,947,744 | 3,947,744 | 382,381 | 120,726 | 382,381 | 120,726
OTC products |  |  |  |  |  |  |  |  |
Equity/Index options -buy | 217,549 | 2,478,632 | 577,245 | 3,273,426 | 3,273,426 | 368,186 | 60 | 368,186 | 60
Equity/Index options -sell | 367 | 1,283 | 10,065 | 11,715 | 11,715 | 0 | 109,602 | 0 | 109,602
Products traded on stock exchange
Equity/Index options | 613,340 | 49,263 | 0 | 662,603 | 662,603 | 14,195 | 11,064 | 14,195 | 11,064
d) Commodity contracts | 20,710 | 220 | 0 | 20,930 | 20,930 | 152 | 21 | 152 | 21
OTC products |  |  |  |  |  |  |  |  |
Commodities | 1,427 | 220 | 0 | 1,647 | 1,647 | 152 | 0 | 152 | 0
Products traded on stock exchange
Commodity futures | 19,283 | 0 | 0 | 19,283 | 19,283 | 0 | 21 | 0 | 21
e) Credit derivative contracts | 64,451 | 1,122,524 | 521,125 | 1,708,100 | 1,126,451 | 27,263 | 54,329 | 27,263 | 40,847
OTC products |  |  |  |  |  |  |  |  |
Credit default swap | 64,451 | 1,122,524 | 521,125 | 1,708,100 | 1,126,451 | 27,263 | 54,329 | 27,263 | 40,847

The following derivatives shown in the list of open forward transactions are recognized at fair value in the statement of
financial position:

Derivative financial instruments | Positive fair values | Negative fair values
in € thousand | 31/12/2025 | 31/12/2024 | 31/12/2025 | 31/12/2024
Derivatives in the trading book |  |  |  |
a) Interest rate contracts | 2,232,105 | 2,324,476 | 2,255,918 | 2,323,269
b) Foreign exchange rate contracts | 381,244 | 608,631 | 338,899 | 482,020
c) Share and index contracts | 589,973 | 382,369 | 141,091 | 120,725
d) Credit derivatives | 25,631 | 27,267 | 30,616 | 30,170
e) Commodities | 77 | 152 | 507 | 21

In addition to the derivatives presented in this section, the European Bank for Reconstruction and Development (EBRD) holds a
put option with RBI AG. The EBRD acquired a stake in Raiffeisen Bank JSC, Kiev, as part of a capital increase conducted in
December 2015. As part of this transaction, RBI AG entered into an agreement with the EBRD, which was extended in financial
year 2024. According to this agreement – if the EBRD makes a corresponding request to RBI – RBI would offer the EBRD shares
in RBI or corresponding payment in USD or another currency in exchange for its stake in Raiffeisen Bank JSC, Kiev, as part of a
share swap (put option) in accordance with the value ratios. It is at the sole discretion of RBI AG whether the consideration is
provided in RBI shares or in the form of payment in USD or another currency. Implementing such a transaction is subject to
regulatory approval and corresponding resolutions passed at the Annual General Meeting and in other bodies. The value of this
option with an exercise price equal to the fair value was zero on initial recognition and subsequently, according to which no
provision for impending losses is to be recognized in RBI AG.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 565
Securities
Debt securities and other fixed-income securities amounting to € 464,333 thousand (31/12/2024: € 347,108 thousand) will
mature in the next financial year.
The table below lists the securities admitted to stock exchange trading (asset side), broken down into listed and unlisted
securities (amounts incl. interest accrued):

Securities | Listed | Unlisted | Listed | Unlisted
in € thousand | 31/12/2025 | 31/12/2025 | 31/12/2024 | 31/12/2024
Debt securities and other fixed-income securities | 4,221,662 | 5,220 | 3,594,576 | 25,179
Shares and other variable-yield securities | 456,460 | 37 | 341,108 | 0

The table below lists securities admitted to stock exchange trading (asset side) measured as fixed assets or current assets
(including trading portfolio):

Securities | Fixed assets | Current assets | Fixed assets | Current assets
in € thousand | 31/12/2025 | 31/12/2025 | 31/12/2024 | 31/12/2024
Debt securities and other fixed-income securities | 2,292,348 | 1,934,534 | 1,894,710 | 1,725,045
Shares and other variable-yield securities | 0 | 456,497 | 0 | 341,108

The table below shows the disposal of securities from fixed assets. Of this amount, € 1,521,869 thousand related to repayments
(31/12/2024: € 1,096,475 thousand).

On-balance | Nominal amount | Net result | Nominal amount | Net result
in € thousand | 31/12/2025 | 31/12/2025 | 31/12/2024 | 31/12/2024
Treasury bills and other bills eligible for refinancing with central banks | 1,007,500 | (1,331) | 281,500 | 0
Loans to banks | 90,522 | 81 | 93,676 | 0
Loans to customers | 617,436 | 1,934 | 362,556 | 794
Debt securities and other fixed-income securities | 622,170 | 735 | 706,498 | (878)
Shares and other variable-yield securities | 0 | 0 | 153,400 | (2,575)
Total | 2,337,627 | 1,419 | 1,597,630 | (2,659)

The differences between the acquisition cost and the repayment amount for securities (except zero-coupon bonds) in the
investment portfolio (banking book) are as follows:
The difference between the amortized costs and the repayment amounts is comprised of € 46,172 thousand (31/12/2024:
€ 47,465 thousand) to be recognized in the future as expenditure, and € 278,333 thousand (31/12/2024: € 198,153 thousand) to
be recognized as income.
In the case of securities admitted to stock exchange trading and recognized at fair value that do not have the characteristics
of financial investments, the difference between the acquisition cost in the statement of financial position and the higher fair
value is € 17,377 thousand (31/12/2024: € 8,851 thousand) pursuant to Section 56 (4) of the Austrian Banking Act (BWG). As in the
previous year, RBI AG does not hold any securities listed for trading on the stock exchanged that do not qualify as financial
assets and are recognized at the higher market value on the balance sheet date pursuant to Section 56 (5) of the Austrian
Banking Act (BWG).
The item loans and advances to credit institutions contains own bonds that are not admitted for public trading in an amount
of € 15,747 thousand (31/12/2024: € 15,323 thousand).
Securities amounting to € 820,249 thousand (31/12/2024: € 1,262,835 thousand) are the subject of genuine repurchase
transactions on the reporting date, whereby RBI AG is the seller and the securities continue to be recognized on the statement
of financial position.
The volume of RBI’s trading book pursuant to Article 103 CRR is € 218,475,571 thousand (31/12/2024: € 211,117,269 thousand), with
€ 11,855,448 thousand (31/12/2024: € 8,615,682 thousand) accounted for by securities and € 206,620,123 thousand (31/12/2024:
€ 204,071,015 thousand) accounted for by other financial instruments. Securities relates to the carrying amounts of the
instruments, while other financial instruments relates to derivatives, including nominal values.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
566 Notes
The fair value is lower than the carrying amount for the following financial instruments that are reported as financial
investments:

Financial investments | Carrying amount | Fair value | Carrying amount | Fair value
in € thousand | 31/12/2025 | 31/12/2025 | 31/12/2024 | 31/12/2024
1. | Treasury bills and other bills eligible for refinancing with central banks | 8,470,122 | 8,092,181 | 6,306,502 | 5,878,202
2. | Loans to banks | 38,852 | 38,465 | 45,777 | 45,073
3. | Loans to customers | 323,346 | 321,529 | 293,237 | 290,812
4. | Debt securities and other fixed-income securities |  |  |  |
| a) Issued by public bodies | 0 | 0 | 0 | 0
| b) Issued by other borrowers | 1,816,096 | 1,763,470 | 1,346,972 | 1,285,042
5. | Shares and other variable-yield securities | 0 | 0 | 0 | 0
Total | 10,648,416 | 10,215,645 | 7,992,487 | 7,499,129

An impairment (in accordance with Section 204 (2) of the Austrian Commercial Code (UGB) is not accounted for as the
assessment of the credit rating of the security borrower is such that scheduled interest payments and repayments are
expected to be made.
Investments and shares in affiliated companies
There are cross shareholdings with UNIQA Insurance Group AG, Vienna, and Posojilnica Bank eGen, Klagenfurt. There are no
profit and loss transfer agreements as at 31 December 2025.
Affiliated companies

Company, domicile (country) | Total nominal value in thousand | Currency | Direct share of RBI | Equity in € thousand | Result in € thousand 1 | From annual financial statements 2
Akcenta CZ a.s., Prag 3 | 100,125 | CZK | 70% | 15,382 | 190 | 31/12/2024
Angaga Handels- und Beteiligungs GmbH, Wien | 35 | EUR | 100% | 15,010 | 361 | 31/12/2025
AO Raiffeisenbank, Moskau 3 | 36,711,260 | RUB | 100% | 5,465,510 | (118,673) | 31/12/2025
BAILE Handels- und Beteiligungsgesellschaft m.b.H.,Wien 2 | 40 | EUR | 100% | 249,257 | (22) | 31/12/2025
Centralised Raiffeisen International Services & Payments S.R.L., Bukarest | 2,820 | RON | 100% | 23,179 | 1,208 | 31/12/2025
Elevator Ventures Beteiligungs GmbH, Wien 2 | 100 | EUR | 100% | 70,892 | 3,399 | 31/12/2024
EV II GmbH & Co KG, Wien | 70 | EUR | 71% | 7,162 | (1,583) | 31/12/2024
Extra Year Investments Limited, Tortola | 50 | USD | 100% | 24 | (12) | 31/12/2024
FARIO Handels- und Beteiligungsgesellschaft m.b.H., Wien | 40 | EUR | 100% | 2,014 | (56) | 31/12/2024
Gabarts Beteiligungs GmbH & Co KG in Liqu. | 10 | EUR | 100% | (6) | (9) | 31/12/2024
Golden Rainbow International Limited, Tortola | <1 | USD | 100% | 376 | (24) | 31/12/2024
Kathrein Privatbank Aktiengesellschaft, Wien (AT)2 | 20,000 | EUR | 100% | 84,462 | 24,659 | 31/12/2025
KAURI Handels und Beteiligungs GmbH, Wien 2 | 50 | EUR | 88% | 7,067 | 2,314 | 31/12/2025
Limited Liability Company FAIRO, Kiew | 358,999 | UAH | 100% | 797 | (742) | 31/12/2024
R.L.H. Holding GmbH, Wien | 35 | EUR | 100% | 7,574 | (1) | 31/12/2024
R.P.I. Handels- und Beteiligungsges.m.b.H., Wien 2 | 36 | EUR | 100% | 119 | (20) | 31/12/2025
RADWINTER SP.Z.O.O | 30 | PLN | 100% | 7,775 | (255) | 31/12/2024
Raiffeisen Advisory EOOD | 700 | BGN | 100% | 0 | 0 | 31/12/2024
Raiffeisen Bank Aval JSC, Kiew (UA) | 6,154,516 | UAH | 68% | 773,116 | 229,249 | 31/12/2025
Raiffeisen Bausparkasse Gesellschaft m.bH., Wien | 35,000 | EUR | 100% | 581,330 | 25,053 | 31/12/2024
Raiffeisen CIB sp. z .o.o. | 2,105 | PLN | 100% | 496 | (3) | 31/12/2024
Raiffeisen Conversational AI Lab s. r. o. | 75 | EUR | 1% | 382 | 0 | 31/12/2024
Raiffeisen Digital Assets GmbH | 35 | EUR | 100% | 1,556 | (1,124) | 31/12/2024
Raiffeisen Digital Bank AG | 47,599 | EUR | 100% | 76,181 | (38,273) | 31/12/2025
Raiffeisen Factor Bank AG. Wien | 10,000 | EUR | 100% | 50,276 | 4,278 | 31/12/2025
RBI Group IT GmbH, Wien 2 | 100 | EUR | 100% | 351 | 276 | 31/12/2024
Raiffeisen Investment Advisory GmbH, Wien | 35 | EUR | 100% | 986 | (11) | 31/12/2024
Raiffeisen Kapitalanlage-Gesellschaft m.b.H., Wien | 15,000 | EUR | 100% | 61,286 | 34,450 | 31/12/2024
Raiffeisen RS Beteiligungs GmbH, Wien 2 | 35 | EUR | 100% | 3,704,299 | 1,808,352 | 31/12/2025
Raiffeisen Tech GmbH | 35 | EUR | 100% | 60 | (12) | 31/12/2024
Raiffeisen Wohnbaubank Aktiengesellschaft, Wien | 5,100 | EUR | 100% | 8,970 | (499) | 31/12/2025
Raiffeisen-LeasingGesellschaft m.b.H., Wien | 363 | EUR | 100% | 145,380 | 26,825 | 31/12/2024
Raiffeisen-Leasing International GmbH, Wien | 36 | EUR | 100% | 64,724 | 4,617 | 31/12/2024
RALT Raiffeisen Leasing Ges.m.b.H, Wien 2 | 219 | EUR | 100% | 54,906 | (38) | 31/12/2025
RALT Raiffeisen-Leasing GmbH & Co. KG, Wien 2 | 20,348 | EUR | 97% | 66,375 | 1,768 | 31/12/2025

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 567

Company, domicile (country) | Total nominal value in thousand | Currency | Direct share of RBI | Equity in € thousand | Result in € thousand 1 | From annual financial statements 2
RB International Markets (USA) LLC, New York 3 | 8,000 | USD | 100% | 13,895 | 874 | 31/12/2024
RBI Kantinenbetriebs GmbH, Wien | 35 | EUR | 100% | 2,168 | 608 | 31/12/2024
RBI LEA Beteiligungs GmbH, Wien 2 | 70 | EUR | 100% | 263,315 | 6,317 | 31/12/2025
RBI Leasing GmbH, Wien | 100 | EUR | 75% | 32,142 | 4,116 | 31/12/2024
RBI PE Handels- und Beteiligungs GmbH, Wien | 150 | EUR | 100% | 1,643 | 957 | 31/12/2024
RBI Retail Innovation GmbH, Wien | 35 | EUR | 100% | 5,626 | 436 | 31/12/2024
REC Alpha LLC, Kiew 3 | 1,201,407 | UAH | 85% | 2,626 | 61 | 31/12/2025
Regional Card Processing Center s.r.o., Bratislava 3 | 539 | EUR | 100% | 29,351 | 3,302 | 31/12/2025
R-Insurance Services sp. z o.o. | 5 | PLN | 100% | 4,178 | 329 | 31/12/2025
RL Leasing GmbH, München (DE) | 26 | EUR | 25% | 21 | (9) | 31/12/2024
RZB-BLS Holding GmbH, Wien 2 | 500 | EUR | 100% | 731,091 | 210,291 | 31/12/2025
Salvelinus Handels- und Beteiligungsges.m.b.H., Wien 2 | 40 | EUR | 100% | 366,356 | (1,769) | 31/12/2025
Scantius Holding GmbH | 35 | EUR | 100% | 60 | (12) | 31/12/2024
TEG 1 Imm GmbH & CO KG | 10 | EUR | 100% | 20,326 | (550) | 31/12/2024
Ukrainian Processing Center PJSC, Kiew 3 | 180 | UAH | 100% | 37,442 | 8,735 | 31/12/2025
Valida Holding AG, Wien | 5,000 | EUR | 57% | 42,720 | 20,069 | 31/12/2024
ZHS Office- & Facilitymanagement GmbH, Wien | 36 | EUR | 4% | 1,155 | 40 | 31/12/2025
1 The result (in part from the consolidated financial statements) in € thousand corresponds to the annual profit/loss 2 Equity and result reported in accordance with IFRS (fully consolidated domestic entities) 3 Equity and result reported in accordance with IFRS (fully consolidated foreign entities)

Fixed assets
The land value of developed land amounts to € 29 thousand (31/12/2024: € 32 thousand).
RBI AG itself was not involved in the leasing business as a lessor in 2025. However, with its subsidiary Raiffeisen-Leasing
Gesellschaft m.b.H, RBI commands a strong presence on the Austrian as well as the international leasing market.
Obligations from the use of tangible fixed assets not reported on the statement of financial position amount to € 38,888
thousand (31/12/2024: € 41,363 thousand) for the following financial year, of which € 35,525 thousand were owed to affiliated
companies (31/12/2024: € 38,417 thousand). The total amount of obligations for the following five years amounts to € 208,954
thousand (31/12/2024: € 219,380 thousand), of which € 190,885 thousand are owed to affiliated companies (31/12/2024:
€ 203,755 thousand).
The intangible fixed assets item includes no intangible fixed assets acquired from affiliated companies.
The following tables show the changes in fixed assets:

in € thousand | Cost of acquisition or conversion
Item | Description of fixed assets | As at 1/1/2025 | Exchange differences | Additions | Disposals | Transfers | As at 31/12/2025
|  | 1 | 3 | 4 | 5 | 6 | 7
1. | Treasury bills and other bills eligible for refinancing with central banks | 9,222,490 | 0 | 3,413,580 | (1,066,937) | 0 | 11,569,134
2. | Loans to banks | 196,648 | (4,621) | 2,993 | (89,231) | 0 | 105,789
3. | Loans to customers | 661,256 | (4,460) | 1,143,135 | (615,436) | 0 | 1,184,494
4. | Debt securities and other fixed-income securities | 1,874,891 | (13,188) | 939,922 | (538,928) | 0 | 2,262,698
a) | Issued by public bodies | 0 | 0 | 186,029 | (186,029) | 0 | 0
b) | own debt securities | 0 | 0 | 0 | 0 | 0 | 0
c) | Issued by other borrowers | 1,874,891 | (13,188) | 753,894 | (352,899) | 0 | 2,262,698
5. | Shares and other variable-yield securities | 405,000 | 0 | 0 | 0 | 0 | 405,000
6. | Equity interests | 115,201 | 0 | 3,260 | (414) | (1) | 118,046
7. | Investments in affiliated companies | 12,382,695 | 0 | 54,675 | (25,644) | 1 | 12,411,727
8. | Intangible fixed assets | 187,914 | 35 | 3,631 | (11,404) | 0 | 180,176
9. | Tangible fixed assets | 42,737 | (48) | 1,506 | (2,715) | 0 | 41,481
| Total | 26,963,724 | (35,469) | 6,502,625 | (2,889,637) | 0 | 30,541,243

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
568 Notes

in € thousand |  | Carrying amount
Item | Cumulative depreciation as of 1/1/2023 | Exchange differences | Cumulative depreciation and amortization disposal | Write-ups | Depreciation | Transfers | Cumulative depreciation as of 31/12/2023 | 31/12/2025 | 31/12/2024
| 8 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17
1. | (17,512) | 0 | 15,900 | 43,867 | (14,550) | 0 | 27,705 | 11,596,839 | 9,204,979
2. | 715 | (60) | (176) | 1,002 | (94) | 0 | 1,386 | 107,175 | 197,363
3. | 312 | 1 | (895) | 1,140 | (1,176) | 0 | (618) | 1,183,876 | 661,568
4. | 1,669 | 99 | (4,510) | 7,838 | (4,502) | 0 | 594 | 2,263,292 | 1,876,560
a) | 0 | 0 | (1,466) | 1,571 | (105) | 0 | 0 | 0 | 0
b) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
c) | 1,669 | 99 | (3,045) | 6,267 | (4,397) | 0 | 594 | 2,263,292 | 1,876,560
5. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 405,000 | 405,000
6. | (35,217) | 0 | 0 | 10,730 | (2,291) | 0 | (26,778) | 91,268 | 79,984
7. | (3,442,994) | 0 | 22,012 | 247,604 | (85,672) | 0 | (3,259,050) | 9,152,677 | 8,939,701
8. | (170,578) | (16) | 11,393 | 0 | (5,720) | 0 | (164,921) | 15,256 | 17,336
9. | (26,907) | 9 | 2,713 | 0 | (3,647) | 1 | (27,831) | 13,650 | 15,830
| (3,688,843) | 132 | 41,926 | 320,019 | (122,154) | 1 | (3,448,919) | 27,092,325 | 23,274,881

Other assets
As at 31 December 2025, other assets totaled € 6,310,916 thousand (31/12/2024: € 7,606,944 thousand). This item also contains
loans and advances from treasury transactions (positive market values arising from derivatives in the trading book, including
derivatives for capital guarantees, as well as accrued interest from derivatives in the banking book – for details, refer to the
table on open forward transactions) in the amount of € 3,819,005 thousand (31/12/2024: € 3,828,076 thousand). This item also
includes loans and advances (special fund) to the Austrian Raiffeisen Deposit Guarantee scheme (ÖRES) relating to the
Raiffeisen-IPS contribution of € 531,203 thousand (31/12/2024: € 526,606 thousand), holdings of precious metals in coin and
other forms in the amount of € 169,843 thousand (31/12/2024: € 514,952 thousand), loans and advances to Group members
arising from tax transfers in the amount of € 84,513 thousand (31/12/2024: € 73,374 thousand) and dividends receivable totaling
€ 1,202,811 thousand (31/12/2024: € 2,202,506 thousand), loans and advances to the tax administration in the amount of
€ 67,203 thousand (31/12/2024: € 64,596 thousand), including advance payments for corporation tax in the amount of € 14,877
thousand (31/12/2024: € 8,065 thousand).
The other assets also contain income of € 1,758,261 thousand (31/12/2024: € 2,657,094 thousand) which is not payable until after
the reporting date.
Deferred tax assets
The deferred tax assets of € 644 thousand (31/12/2024: € 738 thousand) shown in the statement of financial position result
from tax loss carryforwards against American tax authorities of the subsidiary RB International Finance (USA), LLC, New York,
which was liquidated in 2017. They are based on the planned future taxable profit of the subsidiary RB International Markets
(USA) LLC, New York (tax rate: 25.7 per cent). No deferred tax assets were recognized for asset-side temporary differences of
€ 82,497 thousand (31/12/2024: € 131,664 thousand) and € 1,844,187 thousand (31/12/2024: € 1,765,4625 thousand) from domestic
tax loss carry forwards as it does not appear that they can be realized within a reasonable time from today’s perspective.
For the calculation of deferred tax assets and liabilities, the applicable tax rate is that which is likely to be applied upon
realization (reversal) of the underlying temporary difference. For deferred tax assets, a tax rate of 11.5 per cent is therefore to
be applied. For deferred tax liabilities, the corresponding tax rates are 23 per cent, or 11.5 per cent where such liabilities can be
offset against loss carryforwards or deferred tax assets.
The rationale behind recognizing deferred tax assets at half the statutory corporate tax rate is grounded in the certainty of
future relief at this rate, as stipulated by the relevant group allocation agreement. Any additional relief cannot be reliably
estimated for the respective group member, given the member’s lack of influence on the determination of the taxable profit
share at group level. Deferred tax liabilities are recognized at 23 per cent (in the absence of the possibility of offsetting them
with deferred tax assets) due to the agreed allocation rate for positive results. This rate is only lower when there is a taxable
profit share.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 569
Subordinated assets
Subordinated assets contained under assets:

in € thousand | 31/12/2025 | 31/12/2024
Loans to banks | 845,876 | 896,489
hereof to affiliated companies | 844,168 | 894,786
hereof to companies linked by virtue of a participating interest | 1,709 | 1,702
Loans to customers | 215,095 | 25,340
hereof to affiliated companies | 0 | 0
hereof to companies linked by virtue of a participating interest | 0 | 0
Debt securities and other fixed-income securities | 58,747 | 55,888
hereof to affiliated companies | 0 | 0
hereof to companies linked by virtue of a participating interest | 93 | 0
Shares and other variable-yield securities | 456,706 | 450,862
hereof to affiliated companies | 428,440 | 431,043
hereof to companies linked by virtue of a participating interest | 728 | 0

The table above incorporates proprietary holdings of Tier 2 and AT1 instruments, delineated in finer granularity within the
respective liability line item.
Restrictions related to asset availability
As at the reporting date, there were restrictions related to asset availability (in accordance with Section 64 (1) 8 BWG):

in € thousand | 31/12/2025 | 31/12/2024
Indemnification for securities lending transactions | 133,936 | 294,921
Loans assigned to Oestereichische Kontrollbank (OeKB) | 2,503,364 | 3,040,411
Indemnification for OeNB tender | 0 | 0
Loans assigned to European Investment Bank (EIB) | 9,399 | 19,736
Loans assigned to Kreditanstalt für Wiederaufbau (KfW) | 198,978 | 143,032
Institutional Protection Scheme | 531,203 | 526,606
Margin requirements | 0 | 0
Treasury call deposits for contractual netting agreements | 1,631,500 | 1,618,473
Total | 5,008,380 | 5,643,180

In addition, securities collateral in the form of Austrian government bonds with book values of € 186,241 thousand (31/12/2024:
€ 229,857 thousand) was applied for securitization transactions. Furthermore, RBI AG has assets with usage restrictions in an
amount of € 2,822,330 thousand (31/12/2024: € 2,549,968 thousand) for covered bonds as part of its cover funds management
on the assets side.
RBI AG recognizes derivatives with carrying amounts of € 3,819,005 thousand (31/12/2024: € 3,828,076 thousand) under other
assets, of which € 3,580,485 thousand (31/12/2024: € 3,415,768 thousand) are collateralized by cash collateral. The item other
liabilities also includes derivatives with a carrying amount of € 3,233,351 thousand (31/12/2024: € 3,426,945 thousand), of which
€ 3,013,187 thousand (31/12/2024: € 3,159,250 thousand) are collateralized by cash collateral. These carrying amounts of
derivatives classified under other assets include carrying amounts attributable to members of the Austrian resolution group in
the amount of € 1,902 thousand (31/12/2024: € 991 thousand) and carrying amounts attributable to other liabilities in the
amount of € 14,806 thousand (31/12/2024: € 19,647 thousand), which are also collateralized by cash collateral.
None of the balance sheet items are netted out, as each contracting party is granted the right to offset recognized amounts,
which is enforceable only if an event such as insolvency or bankruptcy occurs. Moreover, there is no intention to settle on a net
basis.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
570 Notes
Asset items for affiliated companies and companies linked by virtue of a
participating interest
Loans and advances as well as debt securities and other fixed-income securities to and from affiliated companies and
companies linked by virtue of a participating interest:

in € thousand | 31/12/2025 | 31/12/2024
Loans to banks |  |
To affiliated companies | 2,704,957 | 2,788,851
To companies linked by virtue of a participating interest | 425,790 | 325,399
Loans to customers |  |
To affiliated companies | 1,289,568 | 1,254,460
To companies linked by virtue of a participating interest | 40,946 | 54,077
Debt securities and other fixed-income securities |  |
To affiliated companies | 63,417 | 38,369
To companies linked by virtue of a participating interest | 109,416 | 74,881

Equity and liabilities
Liabilities
Breakdown of maturities
Liabilities to credit institutions, liabilities to customers, securitized liabilities and other liabilities break down by their residual
terms as follows:

in € thousand | 31/12/2025 | 31/12/2024
Deposits from banks | 21,575,315 | 25,503,420
Repayable on demand | 2,646,966 | 4,675,855
Up to 3 months | 13,075,928 | 14,379,888
More than 3 months, up to 1 year | 1,164,284 | 1,378,692
More than 1 year, up to 5 years | 3,261,912 | 3,542,636
More than 5 years | 1,426,227 | 1,526,349
Deposits from customers | 17,127,562 | 17,740,795
Repayable on demand | 5,645,581 | 5,623,419
Up to 3 months | 8,442,794 | 7,515,171
More than 3 months, up to 1 year | 1,814,471 | 3,290,398
More than 1 year, up to 5 years | 808,752 | 749,359
More than 5 years | 415,964 | 562,448
Debt securities issued | 20,290,268 | 19,165,186
Up to 3 months | 2,049,113 | 1,114,318
More than 3 months, up to 1 year | 2,339,295 | 1,808,202
More than 1 year, up to 5 years | 14,313,940 | 15,700,247
More than 5 years | 1,587,921 | 542,418
Other liabilities | 4,869,689 | 4,710,813
Up to 3 months | 4,869,689 | 4,710,813

Bonds and notes issued amounting to € 4,388,407 thousand (31/12/2024: € 2,983,223 thousand) will become due in the next
financial year.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 571
Liabilities to affiliated companies and companies linked by virtue of a participating interest:

in € thousand | 31/12/2025 | 31/12/2024
Deposits from banks |  |
From affiliated companies | 3,855,050 | 4,645,805
From companies linked by virtue of a participating interest | 4,745,536 | 5,274,440
Deposits from customers |  |
From affiliated companies | 2,703,716 | 3,604,793
From companies linked by virtue of a participating interest | 71,744 | 76,003

Other liabilities
As at 31 December 2025, other liabilities amounted to € 4,869,689 thousand (31/12/2024: € 4,710,813 thousand). This item also
contains liabilities from treasury transactions (primarily negative market values arising from derivatives in the trading book, as
well as accrued interest from derivatives in the banking book – for details, refer to the table on open forward transactions) in
the amount of € 3,233,351 thousand (31/12/2024: € 3,426,945 thousand) and liabilities from short positions in bonds and stocks
of € 1,250,154 thousand (31/12/2024: € 941,554 thousand). The fair market value of the hedges for capital guarantees for funds
is € 4,670 thousand (31/12/2024: € 5,701 thousand). The item also includes accrued interest for Tier 2 capital of € 39,027
thousand (31/12/2024: € 22,446 thousand), liabilities from tax transfers (corporate income tax) and liabilities from creditable
capital yields and withholding tax toward Group members totaling € 18,540 thousand (31/12/2024: € 19,285 thousand).
The other liabilities also contain expenses in the amount of € 500,678 thousand (31/12/2024: € 487,482 thousand), for which
payment is to be made after the reporting date.
Provisions
Provisions amount to € 49,172 thousand (31/12/2024: € 53,133 thousand) for severance payments, € 43,044 thousand
(31/12/2024: € 56,022 thousand) for pensions, € 41,958 thousand (31/12/2024: € 34,604 thousand) for tax provisions, and
€ 1,568,717 thousand (31/12/2024: € 1,390,196 thousand) for other provisions (for additional information about other provisions,
please refer to the breakdown in the table below). Reinsurance policies for pension provisions are in place in the amount of
€ 7,703 thousand (31/12/2024: € 8,613 thousand). In the financial year under review these were offset with claims of the same
amount.
The tax provisions of € 41,958 thousand mainly relate to provisions for corporate income tax from 2020 in the amount of
€ 7,800 thousand, with an additional € 1,800 thousand related to 2022, € 7,300 thousand to 2023, and € 8,400 thousand to 2024.
The item also includes a provision of € 15,155 thousand on account of the Minimum Taxation Act (Mindestbesteuerungsgesetz).
The increase in other provisions to € 178,521 thousand resulted primarily from higher provisions for litigation risks mainly
related to legal disputes for foreign currency loans repaid in Poland (taking into account the provisions for reductions in the
carrying amount for active loans, provisions for foreign currency loans in Poland have decreased overall year-on-year: see also
the following explanation). Provisions for other expenses declined € 48,718 thousand year-on-year. This includes € 35,000
thousand at year-end 2024 for an agreed shareholder contribution to Raiffeisen Digital Bank AG, paid in January 2025.
As of 31 December 2025, provisions for impending losses were recognized in the amount of € 66,341 thousand (31/12/2024:
€ 63,013 thousand) for derivatives valued as functional units, ineffective portions of valuation units, credit derivatives managed
according to the principle of individual valuation, and unsettled foreign currency derivatives in UAH.
Litigation risk for foreign currency loans in Poland
In Poland, a significant number of civil lawsuits are pending in relation to certain contractual stipulations connected with
consumer mortgage loans denominated in or indexed to foreign currencies. As at 31 December 2025, the total amount in
dispute was approximately PLN 8,926 million (€ 2,115 million). The number of such lawsuits continues to increase.
In this context, a Polish court requested the Court of Justice of the European Union (CJEU) to clarify whether certain clauses in
these agreements breach European law and are unfair. The CJEU’s preliminary ruling (C-260/18) in October 2019 does not
answer whether the loan agreements are invalid in whole or part but merely gives interpretative guidance on the principles
according to which the national courts must decide in each individual case. According to this, a loan agreement without unfair
terms should remain valid provided that it is in conformity with national law. If a loan agreement cannot remain valid without
the unfair term, the entire contract would have to be annulled. If the annulment of the entire contract triggers material
negative consequences for the borrower, the Polish courts can replace the unfair term by a valid term in accordance with
national law. The consequences of the contract being annulled must be carefully examined so that the borrower can consider
all potential negative consequences of annulment.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
572 Notes
In another proceeding involving RBI, the District Court for Warszawa-Wola in Warsaw requested the CJEU to issue a preliminary
ruling concerning the way in which the contractual provisions concerning the rules for determining the buying and selling rates
for foreign currency are to be formulated in the case of consumer mortgage loans indexed to a foreign currency. In the
judgement of 18 November 2021 in case C-212/20, the CJEU considered that the content of a clause of a loan agreement that
sets the buying and selling prices of a foreign currency to which the loan is indexed must enable a reasonably well informed
and reasonably observant consumer, based on clear and intelligible criteria, to understand the way in which the foreign
currency exchange rate used to calculate the amount of the repayment installments is set. Based on information specified in
such a provision, the consumer must be able to determine on his or her own, at any time, the exchange rate applied by the
entrepreneur. In the justification the CJEU specified that a provision that does not enable the consumer to determine the
exchange rate himself or herself is unfair. Moreover, the CJEU indicated in said judgement that the national court, when the
considered term of a consumer contract is unfair, is not allowed to interpret that term in order to remedy its unfairness, even if
that interpretation would correspond to the common intention of the parties to that contract. Only if the invalidity of the
unfair term were to require the national court to annul the contract in its entirety, thereby exposing the consumer to
particularly unfavorable consequences, so that the consumer would thus be penalized, the national court might replace that
term with a supplementary provision of national law. The CJEU therefore did not entirely preclude national courts hearing such
cases from supplementing the contract with supplementary provisions of national law, but gaps may not be filled solely with
national provisions of a general nature and such remedy may be applied only in strictly limited cases as specified by the CJEU.
The assessment of an unfair nature of contractual provisions as well as the decision concerning supplementation of the
contract after removal of unfair contractual clauses, however, still falls within the competence of the national court hearing
the case. The CJEU did not determine at all whether, in the consequence of the above-mentioned actions, the entire foreign
currency contract is to be annulled.
On 15 June 2023, the CJEU announced its judgment in case C-520/21 on the consequences of the annulment of a mortgage loan
agreement vitiated by unfair terms. The consumer mortgage loan agreement indexed to CHF had been annulled on the ground
that the conversion clauses determining the rate of exchange into PLN for purposes of the monthly installments were
considered to be unfair and that the loan agreement could not continue in existence after removal of the unfair terms. The
CJEU observed that EU law does not expressly govern the consequences of the annulment of a consumer contract which are to
be determined by domestic legislation in the individual EU member states. Such domestic legislation has to be compatible with
EU law and its objectives, in particular to restore the situation which the consumer would have been in had the annulled
contract not existed as well as not to undermine the deterrent effect sought by EU law. According to the CJEU, EU law does not
preclude consumers from seeking compensation from the bank going beyond the reimbursement of the monthly installments
paid and the expenses paid in respect of the performance of the mortgage loan agreement together with the payment of
penalty interest at the statutory rate from the date on which notice is served. Nevertheless, it is a matter for the national
courts to determine whether upholding such claims on the part of the consumers is in accordance with the principle of
proportionality. By contrast, EU law precludes the bank from being able to claim from the consumer compensation going
beyond reimbursement of the capital paid in respect of the performance of the mortgage loan agreement together with the
payment of penalty interest at the statutory rate from the date on which notice is served.
Further specifications on the consequences of the annulment of a consumer mortgage loan agreement vitiated by unfair
terms was provided by the CJEU in its judgments in cases C-756/22 of 11 December 2023, C-488/23 of 12 January 2024 and
C-424/22 of 8 May 2024. None of these proceedings involved RBI directly. In all three cases, the CJEU considered that the
interpretation of EU law requested by the referring courts can be clearly derived from the previous CJEU’s judgments, in
particular from judgement in case C-520/21 of 15 June 2023 comprehensively described in the paragraph above. In the case
C-756/22 the CJEU stated that if a loan agreement is annulled on the ground that it contains unfair terms without which it
cannot continue to be in force, the bank is not allowed to demand the consumer to pay amounts other than the capital paid in
performance of that contract and statutory penalty interest from the time of the demand for payment. In the case C-488/23
the CJEU stated that EU law precludes banks from being able to claim from the consumer – in addition to the reimbursement
of the capital sums paid in performance of the contract and statutory penalty interest from the date of the demand for
payment - compensation consisting of a judicial adjustment of the benefit of the capital sum paid in the event of a material
change in the purchasing power of the currency in question after that capital was paid to the consumer concerned. In the case
C-424/22 of 8 May 2024 the CJEU stated that if a loan agreement is annulled on the ground that it contains unfair terms and
the bank is therefore obliged to make restitutory payments to a consumer, the bank is not entitled to apply the right of
retention. This means that the bank is not allowed to withhold such payment until the debtor has repaid all sums that he or
she had received from the bank under the loan agreement.
Which impact the above mentioned CJEU judgments will have on the decisions made by Polish courts in individual civil cases
cannot be assessed finally due to the complexity and variability of case-specific factors, as well as the potential differing
contexts and legal nuances involved in each case.
On 25 April 2024, the full Civil Chamber of the Polish Supreme Court (the SC) adopted a resolution concerning legal issues
concerning loans indexed to or denominated in a foreign currency. In line with CJEU judgments, the SC ruled that if a
contractual term referring to an indexation mechanism is considered unlawful and is not binding, it cannot be replaced by
another method of determining the foreign exchange rate resulting from provisions of law or established customs and the
loan agreement shall not be binding in the remaining scope. The decision whether a contractual term is unfair is up to the
court hearing the case concerning an individual loan agreement. If a loan agreement is not binding due to its unlawful terms,
each party has a separate claim for the return of undue payments: the bank for the return of capital and the borrower for the
return of payments. The SC found no justification for mutual settlement of the parties’ claims by the court during the hearing
of the case. The limitation period of the bank’s claim for reimbursement of amounts paid under the loan shall, as a rule,
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 573
commence on the day following the day on which the borrower challenged the binding force of the loan agreement against
the bank. Thus, the start of the limitation period depends on the consumer's action and should therefore be analyzed
individually in relation to each contract. This decision modified a previous decision of the SC which provided that the limitation
period of the bank’s claim would start after the consumer is informed about the potential consequences of declaring the loan
agreement invalid and the consumer consents to such a declaration of invalidity. The SC also excluded the possibility for any
party to claim interest or any other remuneration for the use of its funds in the period between the undue payment and the
delay in reimbursing the payment. Despite the fact the resolution was adopted to resolve the arising interpretation issues
connected with disputes concerning loans in Swiss francs, the conclusions arising from it are applicable to loans in other
currencies, including loans in euro, as well.
The above resolution of the SC, combined with the earlier CJEU ruling, means that banks operating in Poland and holding
foreign currency loan portfolios, including RBI, shall not be able to claim any additional remuneration and/or valorization in
connection with such annulled agreements as set out above. Banks shall be limited then only to the possibility to claim the
return of the capital made available to the customer when the loan was originated. This does not affect the possibility of
demanding payment of penalty interest, provided that the conditions for which the bank may demand such interest are met.
As regards the banks’ claim of the return of capital, the guidance provided by the resolution of the SC and the current practice
may be affected by the CJEU judgment dated 19 June 2025 set out below.
On 19 June 2025, the CJEU issued another judgment in case C-396/24, ruling that Directive 93/13/EEC on unfair terms in
consumer contracts prevents banks from demanding full repayment of the disbursed nominal amount of a loan when such
loan agreements are considered null and void, without considering prior repayments made by the consumer (set-off theory).
This ruling may influence the current judicial practice of Polish courts, which, pursuant to the resolution of the Polish Supreme
Court from 25 April 2024 (described in detail above), applies the "two claims" theory. Under this theory, banks may claim full
repayment of amounts paid under a contract declared void, irrespective of the repayments made and the remaining balance
owed. This theory has also served as the basis for banks suing former borrowers to secure capital repayment. Furthermore, the
judgment prohibits the immediate enforceability of rulings favouring banks unless adequate consumer protections are in place.
The potential impact on Polish jurisprudence remains uncertain, with possible outcomes ranging from the adoption of a set-off
theory to the continuation of existing legal frameworks, as the judicial interpretation of this CJEU ruling may vary.
On 27 November 2025, the CJEU delivered a judgment in case C-746/24 which precludes national procedural rules that impose
disproportionately higher court costs on consumers defending against bank-initiated restitution claims for capital compared
to costs incurred in consumer-led actions for contract annulment. It was held that such a disparity in legal expenses
undermines the deterrent effect of Council Directive 93/13/EEC and may discourage consumers from exercising their rights
under the protective framework for unfair contract terms. The Polish civil procedural law provides for a limitation of the
maximum amount of court fees for claims initiated by consumers in cases related to banking activity. Conversely, a bank
initiating legal proceedings against a consumer cannot benefit from such preferential treatment and is required to bear court
fees in accordance with general rules, which results in significantly higher initial costs for the financial institution. Irrespective
of the CJEU's ruling, Polish courts retain the authority to invoke specific domestic procedural regulations to determine the final
allocation of costs, whereby courts are permitted to deviate from general cost-sharing principles based on the principle of
equity or the specific conduct of the parties. Consequently, the ultimate impact of the judgment on RBI’s litigation expenses
depends on the discretionary assessment by national courts in individual cases. RBI continues to monitor the judicial trends and
may adjust its legal risk provisions and procedural strategies to mitigate potential adverse financial effects arising from this
jurisprudence.
Polish common courts have referred further multiple questions to the CJEU regarding interpretation of the Directive 93/13/EEC
on unfair terms in consumer contracts in relation to foreign exchange loan agreements. The issues include i.a. the legality of
requiring consumers to pay legal costs, the interruption of limitation periods for the banks’ claims, treatment of time-barred
claims, banks' set-off rights, reimbursement of insurance costs, and the validity of contractual annexes. These inquiries seek to
clarify how national laws align with EU consumer protection standards.
A significant Inflow of lawsuits has been observed since the beginning of 2020 mainly as a result of the CJEU ruling in case
C-260/18 and of intensified marketing activity by law firms acting on behalf of borrowers. In 2025, RBI’s Polish branch recorded
4,334 new lawsuits (previous year: nearly 6,150 lawsuits) with an average of around 361 new lawsuits per month in 2025 (of
which CHF lawsuits 268 and 93 lawsuits for Euro loans). The inflow could continue to decrease as a result of the increasing
number of settlements being reached between RBI’s Polish branch and borrowers as well as the fact that a significant portion
of the loan portfolio is already subject to ongoing litigation, which naturally limits the potential inflow of new claims.
Furthermore, Polish courts have approached the CJEU with further requests for a preliminary ruling in other civil proceedings
which could lead to further CJEU’s clarifications that could influence how court cases concerning foreign currency loans are
decided by national Polish courts.
The impact assessment in relation to affected FX-indexed or FX-denominated loan agreements may also be influenced by the
outcome of an ongoing administrative court proceeding resulting from the RBI Polish Branch’s appeal against the decision of
the President of the Office of Competition and Consumer Protection (UOKiK).The contested decision stated that RBI’s Polish
branch was engaged in practices violating the collective consumer interests and resulted in an administrative fine on RBI’s
Polish branch and an obligation to provide borrowers information on the violation in case the administrative decision becomes
final. In June 2025, the Court of Competition and Consumer Protection (SOKIK) fully dismissed RBI's appeal against the decision.
In August 2025, RBI lodged an appeal against this judgment to the Court of Appeal in Warsaw.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
574 Notes
Moreover, the Polish Financial Ombudsman, acting on behalf of two borrowers, has initiated a civil proceeding against RBI
alleging employment of unfair commercial practices towards consumers in respect of a case in which RBI – following the
annulment of a loan agreement – claimed the full loan amount originally disbursed without taking into account repayments
made in the meantime as well as amounts due for the use of capital by the borrowers based on the principle of unjust
enrichment, and has demanded that RBI discontinue such practices. In May 2023, the claim of the Financial Ombudsman was
dismissed by the court of first instance. The Financial Ombudsman lodged an appeal against this judgment, which was served
on RBI and duly responded to.
RBI is also plaintiff in a number of ongoing civil lawsuits related to mortgage loans denominated in or indexed to Swiss Franc
and Euro which are already terminated. As of 31 December 2025, the total amount in dispute is in the region of approximately
PLN 298.5 million (€ 71 million). The claims of RBI are for principal and interest which had not been paid due to legal objections.
The lawsuits are raised on contractual grounds or on the basis of unjust enrichment.
In addition, RBI has initiated a number of lawsuits based on counterclaims for the reimbursement of capital against borrowers
in case the borrower challenges the validity of the foreign currency mortgage loan against RBI. The filing of the lawsuits aims
at securing RBI’s claims and should prevent that they become time-barred. As of 31 December 2025, the total amount in
dispute in these proceedings amounted to PLN 2.662 million (€631 million). A further bunch of proceedings is expected to be
initiated until the end of 2025. In the coming years, the decision to file such lawsuits will depend on the ultimate impact of the
CJEU judgment in case C-746/24 described above, the development of national jurisprudence and potential legislative
initiatives.
Polish legislation topics
At the end of September 2025, the Polish Government adopted a draft law, introducing special procedures for civil cases
involving loans denominated in or indexed to Swiss francs (CHF). In early October 2025, the draft was submitted to the Sejm
(the lower house of the Polish Parliament) to begin the legislative process. The primary objective of the draft law is to
accelerate litigations related to CHF loans, reduce the burden on the courts, and strengthen consumer protection, in line with
the case law of the Court of Justice of the European Union. As drafted, the law would apply to civil cases between consumers
and banks concerning loans denominated in or indexed to CHF, including loans converted by annex into CHF-denominated or
CHF-indexed agreements. Loans denominated in or indexed to other currencies (notably EUR) would fall outside the scope of
the law. Overall, the proposed framework significantly strengthens the legal position of consumers in litigation against banks.
Upon service of the consumer’s lawsuit or counterclaim on the bank, loan repayments are automatically suspended by
operation of law until the relevant court proceedings are finally concluded. The suspension of the borrower’s repayment
obligations shall not constitute a default or improper performance under the loan agreement and shall not be reported to any
loan or debt registries. Moreover, any entries recorded in such registries prior to service of the statement of claim or
counterclaim on the bank must be deleted. For cases in which the consumer’s lawsuit or counterclaim was served on the bank
before the act enters into force, the suspension of repayment obligations shall take effect from the act’s effective date.
Consequently, from that date, repayments under all affected loan agreements will be automatically suspended by law,
potentially leading to a further reduction in cash inflows from the CHF loan portfolio. Notwithstanding the above, the bank
remains obliged to accept payments if the total amount repaid by the borrower remains below the total loan disbursed.
Importantly, consumers are not required to submit individual requests for suspension of repayments, and courts will no longer
need to issue or review rulings granting such interim measures or related appeals.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 575
The procedural measures proposed in the draft aim to streamline case handling. Under the draft, cases may be heard in closed
sessions notwithstanding a party’s request for a public hearing, parties may submit testimony in writing, and witness
examination may be conducted remotely, even if a party objects to such methods. In addition, a simplified procedure to
terminate proceedings following the voluntary withdrawal of claims or appeals was introduced at court. To facilitate
settlement and mutual reconciliation, the proposal allows the defendant to raise a set‑off defence up until the close of the
hearing before the court of second instance, or—if the case is heard in a closed session—until the verdict of the
second‑instance court is announced. Similarly, a counterclaim may be filed up to the conclusion of the hearing before the court
of first instance, or—if the case is heard in a closed session—until the first‑instance court judgment is announced. The draft bill
further incentivizes amicable dispute resolution by providing that, if a claim, appeal, or cassation appeal is withdrawn within
six months from the act’s effective date, half of the court fee will be refunded. The draft act also provides for limitations on
the Supreme Court’s ability to hear cassation appeals in cases concerning CHF-related loans.
The act is scheduled to enter into force 14 days after its publication in the official journal of laws. The compressed vacatio legis
underscores the urgency of the measure and may pose significant challenges for the banking sector in implementing its
provisions. In addition to financial effects (reduced inflows from repayments of disputed loans), the proposed provisions may
accelerate the resolution of proceedings before the courts, thereby accelerating the outflow of funds from banks due to the
need to settle final judgments. They may also encourage consumers who have not yet brought claims against banks to initiate
litigation.
Financial Impact
RBI has recognized a provision for filed and expected lawsuits in Poland regarding Swiss Franc and Euro loans, including default
interest that will be payable to customers. As lawsuits have been filed by a number of customers, the provision is based on a
statistical approach that takes into account both statistical data, where relevant, and expert opinions.
RBI has around 17,2 thousand CHF loans to customers outstanding with a total volume of around € 1.3 billion and a further 10.1
thousand CHF loans have been repaid. These also include loans that are not expected to be the subject of litigation.
Furthermore, RBI has around 8.7 thousand Euro denominated loans to customers outstanding with a total volume of nearly
€ 360 million and a roughly 9.3 thousand loans have been repaid.
The resulting provision amounted to € 1,956 million (31/12/2024: € 2.071 million), of which € 1,774 million for CHF loans and
€ 182 million for Euro loans. As at the reporting date of 31/12/2025, RBI AG reported provisions for litigation risks for repaid loans
in connection with this matter in the amount of € 1,269 million (31/12/2024: € 1,060 million), which are included in the following
table on other provisions under Process risks. In addition, reductions in the carrying amount for active loans in the amount of
€ 687 million are taken into account as at the reporting date of 31/12/2025 (31/12/2024: € 1,011 million).
The total amount of the provision in Poland represents RBI’s best estimate of the future outflow of economic benefits. In
calculating the provision for lawsuits filed in Poland, it is nevertheless necessary to form an opinion on matters that are
inherently uncertain, such as regulatory announcements, the number of future lawsuits, the extent to which these will be
upheld and the impact of legal decisions that may be relevant to the lawsuits received.
Thus a number of risks and uncertainties remain. Consequently the actual costs could differ from RBI’s estimates and the
underlying assumptions. This could result in the need for an additional provision. The main measurable uncertainties
associated with the calculation of the provision relate to a potential reduction in the discount period, a decrease in discount
rates, an increase in the number of total expected lawsuits for outstanding and repaid loans as well as the success rate of out-
of-court settlements.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
576 Notes
Sensitivity analysis
The sensitivity analysis refined during the reporting year for potential changes in the actual parameters over the next 12
months, while holding all other parameters constant, is shown in the following two tables, separated by CHF and EUR loans:

CHF-Portfolio 2025 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 1,774 |  |  |
Reduction in discounting period in years (provisions for carrying amount adjustment) | 3,5 years | -1.0 years | 2,5 years | 11
Reduction in discounting period in years (provision) | 20 months | -6 months | 14 months | 7
Decrease in discount rate (provision for asset) | 1.1 % | - 0.3 PP | 0.8 % | 5
Increase in propensity to litigate active loans | 95 % | + 1.0 PP | 96 % | 12
Increase in average loss coverage on outstanding loans | 145 % | + 1.0 PP | 146 % | 6
Decrease in discount rate ( provision) | 3.7 % | - 1.0 PP | 2.7 % | 11
Increase in propensity to litigate repaid loans | 43 % | + 1.0 PP | 44 % | 3
Reduction of number of expected future settlements | 2,497 | - 10.0% | 2,247 | 6
Increase of settlement offer for customers (in % of loss in case of annulment) | 79% | + 5.0 PP | 84% | 11

EUR-Portfolio 2025 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 182 |  |  |
Reduction in discounting period in years (provisions for carrying amount adjustment) | 3,5 years | -1.0 years | 2,5 years | 8
Reduction in discounting period in years (provision) | 20 months | -6 months | 14 months | 0
Decrease in discount rate (provisions for carrying amount adjustment) | 6.0 % | - 0.3 PP | 5.7 % | 1
Increase in propensity to litigate active loans | 52 % | + 1.0 PP | 53 % | 2
Increase in average loss coverage on outstanding loans | 93 % | + 1.0 PP | 94 % | 1
Decrease in discount rate (provision) | 3.7 % | - 1.0 PP | 2.7 % | 1
Increase in propensity to litigate repaid loans | 15 % | + 1.0 PP | 16 % | 2

The assumptions are based on internal statistics as well as on market observations. The increase in provision is linear for each
change, with the exception of the discount rate changes which are logarithmic increases. Furthermore, the model does not
take into account changes related to unexpected developments in jurisprudence.
For the fiscal year 2025, the sensitivity analysis was slightly expanded. Firstly, a distinction was made between provisions for
carrying amount adjustment and provision regarding the sensitivity of the discounting period, due to the different discounting
periods. Secondly, the CHF portfolio was supplemented with new sensitivities related to settlement offers, as these were
numerically more significant in 2025. These new sensitivities were not determined for the 2024 comparison period.

CHF-Portfolio 2024 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 1,965 |  |  |
Reduction in discounting period in years | 3,5 years | - 1,0 year | 2,5 years | 27
Decrease in discount rate (provisions for carrying amount adjustment) | 2.3 % | -0,3 PP | 2.0 % | 8
Increase in propensity to litigate active loans | 91.5 % | +1,0 PP | 92.5 % | 12
Increase in average loss coverage on outstanding loans | 117 % | +1,0 PP | 118 % | 10
Decrease in discount rate (provision) | 5.3 % | -1,0 PP | 4.3 % | 9
Increase in propensity to litigate repaid loans | 53 % | +1,0 PP | 54 % | 4

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 577

EUR-Portfolio 2024 | Actual parameter | Increase/Decrease of the parameter | New parameter | Increase/Decrease in provision (in € million)
Provision amount in € million | 106 |  |  |
Reduction in discounting period | 3,5 years | - 1,0 year | 2,5 years | 7
Decrease in discount rate (provisions for carrying amount adjustment) | 7.2 % | -0,3 PP | 6.9 % | 1
Increase in propensity to litigate active loans | 32.9 % | +1,0 PP | 33.9 % | 2
Increase in average loss coverage on outstanding loans | 83 % | +1,0 PP | 84 % | 2
Decrease in discount rate (provision) | 5.3 % | -1,0 PP | 4.3 % | 1
Increase in propensity to litigate repaid loans | 35 % | +1,0 PP | 36 % | 1

Settlement program
Already in 2023 an out-of- court settlement program based on the proposal by the Chairman of the Polish Financial Supervisory
Authority (KNF) have been launched. The major goal of the settlement program is to limit the expected losses resulting from
the current negative jurisprudence that in most case cancels the mortgage contract. Due to a tepid response to this program,
an improved model was developed in 2024 to enhance acceptance. Instead of recalculating the issued loan contract with
adjusted parameters, the revised settlement program focuses on the repayment amount to customers in the event of
annulment, minus a percentage deduction. In both scenarios, a settlement is achieved. Both cases lead to a write-off of a
portion of the loan balance depending on the individually negotiated settlement offer. The settlements are offered through a
mediation proceeding conducted by the Polish Financial Supervisory Authority.
As at 31/12/2025 RBI made 21,630 individual settlement proposals, out of which 4,541 customers already agreed and in addition
855 customers have signed agreements to enter a mediation process. The bank included in the provisioning calculation the
estimated number of settlements to be signed with customers reflecting the adjusted level of future losses in these settlement
cases. The consideration of settlements in the provision calculation is affected by factors such as the repayment amount and
the development of the ruling practice and the duration of proceedings.
Other provisions

in € thousand | 31/12/2025 | 31/12/2024
Losses on bankbook derivatives | 66,341 | 63,013
Guarantee loans | 53,423 | 31,484
Process risks | 1,270,080 | 1,061,941
Bonus payments | 53,472 | 48,729
Anniversary payments and birthday payments | 23,774 | 27,030
Overdue vacation | 25,536 | 31,677
Restructuring costs | 631 | 923
Supervisory Board fees | 1,489 | 1,397
Operational risk/losses/other | 21,354 | 22,537
Audit costs | 1,524 | 1,651
Other expenses | 51,094 | 99,813
Total | 1,568,717 | 1,390,196

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
578 Notes
Tier 2 capital according to part two, title I, chapter 4 of regulation (EU) no.
575/2013
As at 31 December 2025, tier 2 capital amounts to € 2,027,500 thousand (31/12/2024: € 2,278,528 thousand).
Company tier 2 capital according to CRR:

in € thousand | 31/12/2025 | 31/12/2024
RBI SUB.CALL.NTS 20-32 | 2,521 | 391
RBI NFS 19-30/S193T1 | 0 | 1,710
RBI SUB. BONDS 21-33 | 0 | 184
RBI SUB.CALL.NTS 20-32 | 6,522 | 0
RBI NTS 22-32 S258/T1 | 1,172 | 1,082

In the reporting year, AT1 issuances in the amount of € 674,200 thousand (31/12/2024: € 475,800 thousand), covered bonds in
the amount of € 0 thousand ((31/12/2024: € 1,294,000 thousand) and other issuances in the amount of € 12,200 thousand
(31/12/2024: € 334,449 thousand) were redeemed, resulting in total income for the financial year 2025 in the amount of € 113
thousand (31/12/2024: income of € 4,359 thousand).
Subordinated liabilities
List of subordinated loans (including tier 2 capital) that exceed 10 per cent of the total subordinated liabilities of € 2,027,500
thousand (i.e. that exceed € 202,750 thousand):

Name | ISIN | Nominal value in € thousand | Emission | Due | Currency | Interest rate | Call date | Subordination
Subordinated Notes 2032 Serie 215 | XS2189786226 | 500.000 | 18/06/2020 | 18/06/2032 | EUR | 2.875% | 18/06/2027 | Tier 2
Subordinated Notes 2033 Serie 231 | XS2353473692 | 500.000 | 17/06/2021 | 17/06/2033 | EUR | 1.375% | 17/03/2028 | Tier 2
Subordinated Notes 2032 Serie 258 | XS2534786590 | 500.000 | 20/09/2022 | 20/12/2032 | EUR | 7.375% | 20/09/2027 | Tier 2
Subordinated Notes 2035 Serie 301 | XS2904849879 | 500.000 | 02/10/2024 | 02/01/2035 | EUR | 5.250% | 02/11/2029 | Tier 2

Subordinated liabilities also include two subordinated schuldschein loans with maturities of between three and ten years,
which are denominated in euro.
Claims by creditors for repayment of these liabilities are subordinated to other creditors and, in the event of bankruptcy or
liquidation, may only be repaid after all non-subordinated creditors have been repaid.
No contractual regulations exist in relation to the aforementioned liabilities concerning any conversion or early termination.
Expenses for subordinated liabilities
The expenses for subordinated liabilities in the financial year amount to € 90,525 thousand (31/12/2024: € 77,345 thousand).
Additional tier 1 capital
Additional tier 1 capital of € 500,000 thousand was issued in 2025. In addition, additional tier 1 capital of € 674,200 thousand
was repurchased. No price loss (€ 8,921 thousand in 2024) was realized on the repurchase in the past financial year. With the
additional tier 1 capital placed up to 31/12/2025 in the volume of € 1,650,200 thousand (€ 500,000 thousand in 2020, € 650,000
thousand in 2024, and € 500,000 thousand in 2025), RBI AG has thereby completed its planned AT1 issuance program for the
past financial year. Additional tier 1 capital, including accrued interest, as at 31 December 2025 amounts to € 1,655,073
thousand (31/12/2024: € 1,832,142 thousand). The discount in the amount of € 6,460 thousand (31/12/2024: € 10,761 thousand) is
carried as a deferred expense until the respective first call date (15 June 2026, 15 June 2030, and 15 December 2031).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 579
RBI AG holds the following amounts of its own AT1 instruments:

in € thousand | 31/12/2025 | 31/12/2024
RBI FIX TO FLR 17/UD | 0 | 612
RBI FIX TO FLR 18/UD | 0 | 2,450
RBI FIX TO RES RTE TIER 1 | 1,214 | 8,734
RBI AT1 NTS 25-OE | 2,038 | 0
RBI SUB.CALL.NTS 24-OE | 9,206 | 4,656

Assets and liabilities in foreign currency

in € thousand | 31/12/2025 | 31/12/2024
Assets in foreign currency | 10,165,857 | 15,689,069
Liabilities in foreign currency | 10,703,364 | 15,597,267

Equity
Subscribed capital
As at 31 December 2025, the company’s share capital amounted to € 1,003,265,844.05 and was divided into 328,939,621 voting
common bearer shares. As at 31 December 2025, 698,767 (31 December 2024: 525,274) of those were own shares, and
consequently 328,240,854 shares were outstanding at the reporting date.
Own shares
The Annual General Meeting held on 4 April 2024 authorized the Management Board pursuant to § 65 (1) 8, § 65 (1a) and § 65 (1b)
of the AktG to purchase own shares and to retire them if appropriate without requiring any further prior resolutions to be
passed by the Annual General Meeting, though with the approval of the purchase by the Supervisory Board can also be
effected off-exchange under the exclusion of the shareholders’ pro rata tender right. Own shares, whether already purchased
or to be purchased, may not collectively exceed 10 per cent of the company’s share capital. The authorization to purchase own
shares expires 30 months after the date of the Annual General Meeting resolution, i.e. until 4 October 2026. The acquisition
price for repurchasing the shares may be no lower than € 3.05 per share and no higher than 10 per cent above the average
unweighted closing price over the 10 trading days prior to exercising this authorization. The authorization may be exercised in
full or in part or also in several partial amounts, for one or more purposes – with the exception of securities trading – by the
company, by a subsidiary (§ 189a (7) of the UGB) or by third parties for the account of the company or a subsidiary.
The Management Board was further authorized, pursuant to § 65 (1b) of the AktG, to decide, with the approval of the
Supervisory Board, on the sale of own shares by means other than the stock exchange or a public tender, to the full or partial
exclusion of shareholders’ subscription rights, and to stipulate the terms of sale. Shareholders’ subscription rights may only be
excluded if the own shares are used to pay for a contribution in kind, to acquire enterprises, businesses, operations or stakes in
one or several companies in Austria or abroad. Furthermore, shareholders’ subscription rights may be excluded in the event
that convertible bonds are issued in future, in order that (own) shares may be issued to such convertible bond creditors that
have exercised their right of conversion into or subscription to shares in the company, and also in the event of a conversion
obligation stipulated in the convertible bonds’ issuance conditions in order to fulfil this conversion obligation. This authorization
may be exercised in whole, in part or in several partial amounts for one or more purposes by the company, a subsidiary (§ 189a
7 UGB) or by third parties for the account of the company or a subsidiary and remains in force for five years from the date of
this resolution, i.e. until 4 April 2029.
Since then, no treasury shares have been acquired under this authorization of April 2024.
The Annual General Meeting of 4 April 2024 also authorized the Management Board, under the provisions of § 65 (1) 7 of the
AktG, to purchase own shares for the purpose of securities trading, which may also be conducted off-market, during a period
of 30 months from the date of the resolution (i.e. until 4 October 2026), provided that the trading portfolio of shares purchased
for this purpose does not at the end of any given day exceed 5 per cent of the company's respective share capital. The
consideration for each share to be acquired must not be less than half the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition and must not exceed twice the closing price at the Vienna Stock Exchange on the
last day of trading preceding the acquisition. This authorization may be exercised in full or in part or also in several partial
amounts by the company, by a subsidiary (§ 189a (7) UGB) or by third parties acting for the account of the company or a
subsidiary.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
580 Notes
Since then, no own shares have been purchased for the purpose of securities trading on the basis of the authorization of April
2024.
Authorized capital
Pursuant to § 169 of the Austrian Stock Corporation Act (AktG), the Management Board has been authorized since the Annual
General Meeting of 4 April 2024 to increase the share capital with the approval of the Supervisory Board – in one or more
tranches – by up to € 501,632,920.50 through the issuance of up to 164,469,810 new voting common bearer shares in exchange
for contributions in cash and/or in kind (including by way of the right of indirect subscription by a bank pursuant to § 153 (6) of
the AktG) by 16 May 2029 at the latest and to fix the offering price and terms of the issue with the approval of the Supervisory
Board. The Management Board is further authorized to exclude shareholders’ subscription rights with the approval of the
Supervisory Board (i) if the capital increase is carried out in exchange for contributions in kind, or (ii) if the capital increase is
carried out in exchange for contributions in cash and the shares issued under the exclusion of subscription rights do not exceed
10 per cent of the company’s share capital (exclusion of subscription rights). The (i) utilization of authorized capital with
exclusion of the statutory subscription right in the event of a capital increase in return for a contribution in cash, and the (ii)
implementation of the conditional capital resolved upon in the Annual General Meeting on 26 March 2025 in order to grant
conversion or subscription rights to convertible bond creditors may not exceed 10 per cent in total of the share capital of the
company. The utilization of the authorized capital in the form of a capital increase in return for a contribution in kind is not
covered by this restriction.
Since then, this authorization from April 2024 has not been utilized.
Capital reserves
The committed capital reserves amounted to € 4,340,692 thousand (31/12/2024: € 4,335.669 thousand), while the uncommitted
capital reserves totaled € 84,589 thousand (31/12/2024: € 93,467 thousand). The change resulted from the recognition of
treasury shares in accordance with section 229 (1a) and (1b) UGB.
Retained earnings
Retained earnings consist of legal reserves of € 5,500 thousand (31/12/2024: € 5,500 thousand) and other free reserves
amounting to € 2,399,831 thousand (31/12/2024: € 2,395,234 thousand). Of the other free reserves, an amount of € 531,203
thousand (31/12/2024: € 526,606 thousand) is allocated to the Raiffeisen-IPS. An amount of € 4,597 thousand (31/12/2024:
€ 24,557 thousand) was allocated to other reserves in the 2025 financial year as a reserve for the Raiffeisen institutional
protection scheme (Raiffeisen-IPS) based on the agreement to establish an institutional protection scheme and a
corresponding resolution by the Raiffeisen-IPS Joint Risk Council. The Raiffeisen-IPS reserve is not eligible for inclusion in the
calculation of own funds pursuant to CRR.
Liability reserves
As at 31 December 2025, liability reserves stood unchanged at € 535,097 thousand (31/12/2024: € 535,097 thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 581
Additional notes
Notes on liability arrangements
In the government-promoted, subsidized forward private planning scheme, RBI AG has issued capital guarantee obligations in
accordance with Section 108h (1) 3 of the Income Tax Act (EStG). In this context, the bank guarantees that in the event of
transferring the capital into a perpetual annuity the payment amount available for this annuity is not less than the sum of the
contributions made by the taxpayer plus the premiums credited to this taxpayer pursuant to Section 108g EStG. As at 31
December 2025, the volume of these guarantees stood at € 799,271 thousand (31/12/2024: € 903,761 thousand).
Raiffeisen Customer Guarantee Scheme (RKÖ)
RBI AG is a member of Raiffeisen-Kundengarantiegemeinschaft Austria (Raiffeisen Customer Guarantee Scheme Austria (RKÖ).
The members of this association have a contractual obligation to guarantee jointly the punctual fulfillment of the entirety of
an insolvent association member’s commitments arising from customer deposits and its own issues up to the limit of the sum
of the individual capacities of the remaining association members. The individual capacity of an association member is
measured on the basis of its freely available reserves subject to the pertinent provisions of the Austrian Banking Act (BWG).
In view of the change in the legal and regulatory framework and implementation of an institutional protection scheme, the
RKÖ and its respective member institutions decided in 2019 to discontinue the scheme for new transactions. Accordingly, the
supplementary protection by RKÖ may only be granted to protected transactions entered into before 1 October 2019. The
rights of customers with regard to statutory deposit insurance are not affected and remain fully in place.
Institutional protection scheme (Raiffeisen-IPS)
Raiffeisen Bank International AG and its Austrian bank subsidiaries, the regional Raiffeisen banks and the local Raiffeisen
banks, are part of the agreement on an institutional protection scheme (Raiffeisen-IPS) as well as the Austrian Raiffeisen-
Sicherungseinrichtung eGen (ÖRS), as a statutory protection scheme.
In the agreement on the Raiffeisen-IPS, the member institutions agree to ensure one another’s security and in particular, join
forces to ensure liquidity and solvency when required. The Raiffeisen-IPS was recognized by the relevant supervisory authorities
(ECB and FMA) as an institutional protection scheme according to Article 113 (7) CRR (Capital Requirements Regulation of the
European Union) and its related rights and obligations of the participating member institutions. This allows, among other
things, for receivables to be risk-weighted at zero per cent between Raiffeisen-IPS members. The Raiffeisen-IPS is subject to
joint regulatory supervision and capital requirements must also be met on a consolidated basis.
The Raiffeisen-IPS was recognized together with ÖRS by the Austrian Financial Market Authority (FMA) as a statutory deposit
guarantee and investor protection scheme according to the Austrian Deposit Guarantee and Investor Protection Act
Einlagensicherungs- und Anlegerentschädigungsgesetz (ESAEG).
ÖRS is mandated to operate the reporting and early risk assessment systems for the Raiffeisen-IPS. ÖRS acts as trustee and
manages the liquid assets for the Raiffeisen-IPS.
The Raiffeisen-IPS is controlled by a joint risk council, comprising representatives of RBI AG, the regional Raiffeisen banks and
the Raiffeisen banks. Tasks that could be solved on a regional level were delegated to the regional risk councils, each
comprising representatives of the respective regional Raiffeisen banks and Raiffeisen banks, by the joint risk council.
Letters of comfort and other financial obligations
As at 31 December 2025, soft letters of comfort in the amount of € 22,642 thousand (31/12/2024: € 95,881 thousand) had been
issued. Open capital commitments on share capital in the total amount of € 62,904 thousand were recorded at 31 December
2025 (31/12/2024: € 122,781 thousand).
Contingent liabilities recorded in the statement of financial position of RBI AG of € 7,317,059 thousand were reported as at
31 December 2025 (31/12/2024: € 7,477,261 thousand). Of that amount, € 6,374,973 thousand (31/12/2024: € 6,330,724 thousand)
was attributable to guarantees and € 942,086 thousand (31/12/2024: € 1,146,536 thousand) to letters of credit. Of the
guarantees, an amount of € 438,958 thousand (31/12/2024: € 486,748 thousand) relates to guarantees to affiliated companies.
As at 31 December 2025, € 21,959,511 thousand (31/12/2024: € 20,157,817 thousand) in credit risk was reported under liabilities in
the statement of financial position. In the reporting year, € 10,786,815 thousand of that amount relates to irrevocable loan
commitments not yet drawn down (31/12/2024: € 10,051,873 thousa nd) and € 11,172,696 thousand to revocable loan
commitments (31/12/2024: € 10,105,944 thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
582 Notes
Pending legal issues
RBI AG is involved in various legal, administrative or arbitration proceedings before various courts and authorities, both as a
plaintiff and a defendant. The proceedings generally arise in the ordinary course of business in contractual, employment and
other matters.
A provision is recognized for contingent liabilities, impending losses from pending transactions and expenses that are
attributable to the financial year under review or to previous financial years and that are probable or certain on the closing
date, but the amount or time of occurrence is uncertain. A contingent liability that arises from a past event is disclosed unless
payment is highly unlikely. In the following description, no amount is specified in those cases in which it would be severely
detrimental to do so..
Banking business
RBI AG provides services for corporate customers that increase litigation risk at the operating level. The most important cases
are as follows:
Following the insolvency of Alpine Holding GmbH (Alpine) in 2013, a number of lawsuits were filed by retail investors in Austria
against RBI and another credit institution in connection with a bond which had been issued by Alpine in 2012 in an aggregate
principal amount of € 100 million. The claims asserted against RBI originally amounted to approximately € 10 million. In total,
claims of approximately € 8 million had been filed in court by investors either directly or indirectly through a 'class action' of the
Austrian Federal Chamber for Workers and Employees (Bundeskammer für Arbeiter und Angestellte). Owing to the termination
of some of the proceedings and claim reductions in other proceedings, the value in dispute of the pending court proceedings
against RBI decreased to approximately € 6.3 million. Among other things, it is claimed that the banks acted as joint lead
managers of the bond issue and were or at least should have been aware of financial problems of Alpine at the time of the
issue. Thus, they should have known that Alpine was not in a position to redeem the bonds as set forth in the terms and
conditions of the bonds. It is alleged that the capital market prospectus in relation to the bond issue was misleading and
incomplete and that the joint lead managers including RBI, were aware of that fact. In December 2023, in several joint
proceedings the court of first instance issued a partial judgment and dismissed the claims of the investors based on
prospectus liability in the amount of in total approximately € 5.9 million regarding RBI related claims. The judgment of the court
of first instance was confirmed by the court of second instance. The plaintiffs filed an appeal against this decision with the
Austrian Supreme Court (Oberster Gerichtshof) in September 2024. The amount of RBI related claims subject to these appellate
proceedings was reduced from € 5.9 million to € 5.7 million. The OGH rejected the plaintiff's appeal in this class action with its
decision of 23 July 2025. Furthermore, RBI was able to settle a number of other proceedings and receive partial reimbursement
of its legal costs. Following the proceedings settled by the appeal decision of the OGH, the number of all other pending
proceedings has fallen to just two (with a total value in dispute of around € 0.5 million).
In the first quarter of 2021, RBI learned about a claim already filed against it in Jakarta by an Indonesian company in November
2020. The amount of the alleged claim is approximately USD 129 million (€ 110 million) in material damages and USD 200 million
(€ 170 million) in immaterial damages. The claim was served upon RBI in May 2022. On 27 June 2023, the South Jakarta District
Court (Pengadilan Negeri Jakarta Selatan), held that RBI has committed an unlawful act against the Indonesian company and
ordered RBI to pay damages in the amount of USD 119 million (€ 101 million). In view of the facts of the case and the legal
situation, RBI filed an appeal against the judgment with the High Court of Jakarta (Pengadilan Tinggi Jakarta). In March 2024
the High Court of Jakarta ruled in favour of RBI and rejected the claim due to lack of Indonesian jurisdiction. In June 2024, the
plaintiff filed an appeal to the Supreme Court of Indonesia (Mahkamah Agung Republik Indonesia) which was opposed by RBI.
While the South Jakarta District Court's website indicates the dismissal of the appeal, the delivery of this decision by the
Supreme Court of Indonesia to RBI is still pending.
RBI is involved in a dispute with a Cayman Islands Company (Cayman Islands Company) and other parties (including several
subsidiaries of and a director of the Cayman Islands Company) centered on non-payment of guarantees given by the former
parent company of the Cayman Islands Company (Parent Company). In August 2019, RBI began proceedings against the
Cayman Islands Company (and other parties) in the Grand Court of the Cayman Islands, Financial Services Division (the Cayman
Islands Court). In those proceedings, RBI alleges in general terms that through a series of fraudulent transfers (the Fraudulent
Scheme) the Parent Company was stripped of its assets, to frustrate the enforcement of RBI's guarantees. In September 2019,
RBI obtained an order against the Cayman Islands Company, restricting its ability to deal with its assets (the Freezing Order),
pending determination of the proceedings before the Cayman Islands Court. In November 2019, the Cayman Islands Company
filed its defense and counterclaim to the proceedings before the Cayman Islands Court, including a € 203 million counterclaim
against RBI. The Cayman Islands Company's purported counterclaim is founded on documents that the Cayman Islands
Company has, to date, refused to provide. Further defendant parties were added to the proceedings before the Cayman
Islands Court in 2020. In December 2021, the Cayman Islands Court of Appeal refused attempts by the Cayman Islands
Company and other parties to challenge the Freezing Order and the jurisdiction of the Cayman Islands Court. Those attempts
were rejected with costs ordered in RBI's favor. In 2023, RBI amended its claim, added a director of the Cayman Islands
Company (Director) as a party to the proceedings before the Cayman Islands Court, and increased its claim for damages from
approximately € 44 million to approximately € 106 million plus interest and costs. An application by the Director to challenge
jurisdiction and his joinder to the proceedings before the Cayman Islands Court was heard in February 2025 and refused in April
2025, with costs awarded in RBI's favour. The Director’s defense was filed in August 2025. Following a case management
conference in September 2025, a trial has been ordered to commence on the first available date after 2 April 2027. Also in
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 583
September 2025, a new party (a subsidiary of the Cayman Islands Company) was added to the proceedings. That party gave
undertakings to the Cayman Islands Court in materially the same form as the Freezing Order and both the Cayman Islands
Company and the new party were ordered to give disclosure of all of their assets with a value above € 3 million, with the
provision of further information to come from the Cayman Islands Company's auditors, to aid in the policing of the Freezing
Order. Other related proceedings have been brought against RBI by parties within the Cayman Islands Company’s group,
including in Malta and British Columbia (Canada). Those proceedings are being defended by RBI. They are for declaratory
relief only, and no damages are claimed.
Regulatory enforcement
RBI AG and its subsidiaries are subject to numerous national and international regulatory authorities.
In March 2018, an administrative fine of € 2.7 million (which was calculated by reference to the annual consolidated turnover of
RBI and constitutes 0.06 per cent of the last available annual consolidated turnover) was imposed on RBI by FMA in the course
of administrative proceedings based on alleged non-compliance with formal documentation requirements relating to the
know-your-customer principle (Initial FMA Decision). According to the interpretation of the Austrian Financial Market Authority
(FMA), RBI had failed to comply with these administrative obligations in a few individual cases. FMA did not allege that any
money laundering or other crime had occurred, or that there was any suspicion of, or any relation to, any criminal act. RBI took
the view that it had duly complied with all due diligence obligations regarding know-your-customer requirements and
appealed against the Initial FMA Decision in its entirety. The Federal Administrative Court (Bundesverwaltungsgericht – BVwG)
confirmed the Initial FMA Decision (First Appellate Decision) and – again- RBI appealed against this decision in its entirety. In
December 2019, the Austrian Supreme Administrative Court (Verwaltungsgerichtshof– VwGH) revoked the First Appellate
Decision and referred the case back to the BVwG. In the retrial on 6 May 2021, the BVwG again confirmed the Initial FMA
Decision in general but reduced the administrative fine down to € 824 thousand and allowed another (second) appeal before
the VwGH (Second Appellate Decision). Such appeal was filed by RBI. In July 2023, the VwGH revoked the Second Appellate
Decision and, again, referred the case back to the BVwG. In the retrial on 25 April 2024, the BVwG again confirmed the Initial
FMA Decision in general but reduced the administrative fine down to € 2 million (from the amount of € 2.7 million imposed by -
the Initial FMA Decision) and allowed another (third) appeal before the VwGH (Third Appellate Decision). Such appeal was filed
by RBI on 7 June 2024. A provision of an appropriate amount has been recognized.
In September 2018, two administrative fines totaling PLN 55 million (€ 13 million) were imposed on Raiffeisen Bank Polska S.A.
(RBPL), the former Polish subsidiary of RBI in the course of administrative proceedings based on alleged non-performance of
duties as the depositary and liquidator of certain investment funds. RBPL as custodian of investment funds assumed the role
of liquidator of certain funds in February 2018. According to the interpretation of the Polish Financial Supervision Authority –
which is known by its Polish abbreviation, KNF – RBPL failed to comply with certain obligations in its function as depository
bank and liquidator of the funds. In the course of the transactions related to the sale of the core banking operations of RBPL to
Bank BGZ BNP Paribas S.A., the responsibility for said administrative proceedings and related fines was assumed by RBI. RBI
filed appeals against these fines in their entirety. In September 2019, in relation to the PLN 5 million (€ 1 million) fine regarding
RBPL’s duties as depositary bank, the Voivodship Administrative Court considered RBI’s appeal and overturned the KNF decision
in its entirety. However, the KNF filed an appeal in cassation against the judgement. In relation to the PLN 50 million (€ 12
million) fine regarding RBPL’s function as liquidator, the Voivodship Administrative Court decided to dismiss the appeal and
uphold the KNF decision in its entirety. RBI has raised appeal in cassation to the Supreme Administrative Court because it takes
the view that RBPL has duly complied with all its duties. In April 2023, the Supreme Administrative Court decided to refer the
case regarding the PLN 5 million (€ 1 million) fine back to the Voivodship Administrative Court for reconsideration. Furthermore,
the Supreme Administrative Court dismissed RBI’s appeal in cassation in connection with the PLN 50 million (€ 12 million) fine
which is now final. However in October 2023 RBI filed a complaint to the European Court of Human Rights over this verdict. In
October 2023, the Voivodship Administrative Court dismissed RBI’s appeal and upheld the KNF decision imposing the PLN 5
million (€ 1 million) penalty on RBI AG in relation to the alleged violations of RBI's duties as depositary of certain investment
funds. A cassation appeal against this judgment to the Supreme Administrative court was submitted. In February 2025, the
Supreme Administrative Court dismissed RBI’s appeal in cassation in connection with the PLN 5 million (€ 1 million) fine which is
now final. In July 2025, RBI AG also filed a complaint to the European Court of Human Rights over this verdict. Both fines, i.e. the
PLN 5 million (€ 1 million) fine and the PLN 50 million (€ 12 million) fine, have already been paid.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
584 Notes
In this context, several individual lawsuits and four class actions, aggregating claims of holders of certificates in the above-
mentioned investment funds, were filed against RBI, whereby the total amount in dispute as at 31 December 2025 equals
approximately PLN 81 million (€ 19 million). Additionally, RBI was informed that two modifications of a statement of claim had
been submitted to the court which could result in an increase of the total amount in dispute by approximately PLN 93 million
(€ 22 million). However, the first of such modifications for an amount of approximately € 91 million has not yet been served
upon RBI. The plaintiffs of the class actions demand the confirmation of RBI’s responsibility for the alleged improper
performance of RBPL (in respect of which RBI is the legal successor) as custodian bank. Such confirmation would secure and
facilitate their financial claims in further lawsuits. Due to RBI’s legal assessment, no provision has been recognized.
Additionally, RBI received a number of claim notices from BNP in connection with certain bank operations in respect of which
BNP is the legal successor to RBPL. Said claim notices primarily relate to administrative proceedings conducted by the KNF
(Polish Financial Supervision Authority) in connection with alleged failures of RBPL/BNP in acting as a depository of investment
funds and could lead to cash penalties. Furthermore, claims in this context have been raised by investors to BNP, and as a
mitigating measure RBI supports BNP in this regard. The financial impact can not be estimated at this time.
In January 2023, RBI was informed by FMA that an administrative proceeding has been started based on the alleged non-
compliance with certain legal requirements regarding the know-your-customer principle in connection with three customers of
RBI’s correspondent banking business. The transactions relevant for the administrative proceedings had been processed by RBI
between 2017 and 2020. According to the interpretation of FMA, RBI had not sufficiently convinced itself that these banks had
appropriate due diligence procedures in place regarding customers of their own correspondent banking business. Thus, in the
view of FMA, RBI failed to fully comply with its administrative obligations in this regard. FMA did not state that any money
laundering or other crime had occurred, or that there was any suspicion of, or any relation to, any criminal act. In June 2024,
FMA terminated the administrative proceeding in relation to one bank without a fine, but imposed a fine of € 2.07 million
against RBI in relation to the other two banks. In July 2024 RBI filed an appeal to the Federal Administrative court
(Bundesverwaltungsgericht - BVwG) and, thus the fine is not yet final or legally binding. The BVwG meanwhile has requested
the CJEU to issue a preliminary ruling concerning the involvement and treatment of natural persons acting for a legal entity as
prerequisite for fining said legal entity. The proceeding before the CJEU is currently on-going.
In January 2023, RBI received a Request for Information (RFI) from the Office of Foreign Assets Control (OFAC) of the US
Department of the Treasury. OFAC administers and enforces economic and trade sanctions based on US foreign policy and
national security goals. A breach of US sanctions may, among others, result in fines, the freezing of accounts or the termination
of business relationships with US correspondent banks. The questions raised by OFAC in the RFI seek to clarify payments
business and related processes maintained by RBI with respect to US correspondent banks in light of the developments related
to Russia and Ukraine. RBI has also been cooperating with the U.S. Department of Justice ( DOJ) since March 2023 in connection
with a DOJ inquiry into RBI's compliance with sanctions against Russia. A breach of U.S. criminal law related to sanctions may,
among others, result in fines or the appointment of a monitor. As a matter of principle, RBI maintains policies and procedures
that are designed to ensure compliance with applicable embargoes and financial sanctions and is cooperating fully with OFAC
and DOJ in relation to their requests to the extent permitted by applicable laws and regulations.
In August 2023 the Austrian Financial Markets Authority (FMA) instigated administrative fining proceedings against RBI AG
regarding a suspected breach by Raiffeisen Centrobank AG (RCB) of insider trading rules according to EU Regulation 596/2014
(MAR) in September 2022 in respect of a financial instrument for which RCB acted as market maker. RCB was a fully
consolidated Austrian subsidiary of RBI AG and RBI AG became the legal successor of the relevant parts of RCB’s business by
way of a demerger by absorption in December 2022. The relevant transaction which is the basis of the allegations amounts to
approximately € 85 thousand.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 585
Tax litigation
On 7 July 2024, the Austrian Federal Finance Court (Bundesfinanzgericht) submitted a request for a preliminary ruling to the
Court of Justice of the European Union (CJEU), asking whether the following value-added tax (VAT) exemption in § 6(1) No. 28
second sentence of the Austrian VAT Act constitutes state aid according to Article 107(1) of the Treaty on the Functioning of
the European Union. According to § 6(1) No. 28 second sentence of the Austrian VAT Act, services provided between companies
that predominantly carry out banking, insurance, or pension fund transactions are exempt from tax, provided that these
services are directly used to carry out the aforementioned tax-exempt transactions, and for personnel leasing by these
companies to the associations (Zusammenschlüsse) mentioned in the first sentence of § 6(1) No. 28 of the Austrian VAT Act.
Based on this regulation, RBI has provided and received VAT-exempt services. Should the CJEU rule that the tax exemption
constitutes (forbidden) state aid, it is to be expected that such state aid would be reclaimed for the past (for a maximum of
ten years). It is expected that this might result in repayment obligations of RBI in the amount of approximately € 17 million. In
this context a provision of € 17 million has been recognized. In July 2024, an amendment to the Austrian VAT Act was adopted,
according to which the VAT exemption in § 6(1) No. 28 second sentence of the Austrian VAT Act was deleted as from
1 January 2025. On 5 May 2025, the CJEU ruled that the preliminary request of the Austrian Federal Finance Court was
inadmissible. The Austrian Federal Finance Court submitted a new request for a preliminary ruling on 30 May 2025.
In Germany, a tax liability totaling approximately € 23 million rose in connection with real estate transfer taxes. The tax
authority’s decision has been contested at the Federal Fiscal Court in Munich. As the taxes have already been settled, the
establishment of a provision is deemed unnecessary.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
586 Notes
Total capital according to CCR

in € thousand | 31/12/2025 | 31/12/2024
Capital instruments and the related share premium accounts | 5,406,416 | 5,410,799
Retained earnings | 343,654 | 342,502
Accumulated other comprehensive income (and other reserves) | 2,409,226 | 2,409,226
Minority interests (amount allowed in consolidated CET1) | 0 | 0
Common equity tier 1 (CET1) capital before regulatory adjustments | 8,159,295 | 8,162,527
Additional value adjustments (negative amount) | (35,884) | (41,373)
Intangible assets (net of related tax liability) (negative amount) | (15,256) | (17,337)
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) | (644) | (738)
Fair value reserves related to gains or losses on cash flow hedges | 0 | 0
Gains or losses on liabilities valued at fair value resulting from changes in own credit standing | 0 | 0
Direct and indirect holdings by an institution of own CET1 instruments (negative amount)2 | (20,000) | (20,000)
Exposure amount of the following items which qualify for a risk weight of 1250%, where the institution opts for the deduction alternative | (9,084) | (38,031)
hereof: qualifying holdings outside the financial sector (negative amount) | 0 | 0
hereof: securitization positions (negative amount) | (9,084) | (38,031)
hereof: securitization positions (negative amount) | 0 | 0
Other regulatory adjustments | (415,124) | (98,384)
Total regulatory adjustments to common equity tier 1 (CET1) | (495,992) | (215,862)
Common equity tier 1 (CET1) capital | 7,683,303 | 7,946,665
Capital instruments and the related share premium accounts | 1,638,799 | 1,800,218
hereof: classified as equity under applicable accounting standards | 0 | 0
hereof: classified as liabilities under applicable accounting standards | 0 | 0
Amount of qualifying items referred to in Article 484 (4) and the related share premium accounts subject to phase out from AT1 | 0 | 0
Qualifying tier 1 capital included in AT1 capital (including minority interests not included in row 5) issued by subsidiaries and held by third parties | 0 | 0
Additional Tier 1 (AT1) capital before regulatory adjustments | 1,638,799 | 1,800,218
Direct and indirect holdings by an institution of own AT1 instruments (negative amount) | (33,000) | (33,000)
Total regulatory adjustments to Additional Tier 1 (AT1) capital | (33,000) | (33,000)
Additional tier 1 (AT1) capital | 1,605,799 | 1,767,218
Tier 1 capital (T1 = CET1 + AT1) | 9,289,102 | 9,713,883
Capital instruments and the related share premium accounts | 2,026,487 | 2,238,093
Qualifying own funds instruments included in T2 capital (including minority interests and AT1 instruments not included in rows 5 or 34) issued by subsidiaries and held by third parties | 0 | 0
Credit risk adjustments | 0 | 0
Tier 2 (T2) capital before regulatory adjustments | 2,056,487 | 2,238,093
Tier 2 (T2) capital: regulatory adjustments | 0 | 0
Direct and indirect holdings by an institution of own T2 instruments and subordinated loans (negative amount) | (30,000) | (30,000)
Total regulatory adjustments to Tier 2 (T2) capital | (30,000) | (30,000)
Tier 2 (T2) capital | 2,026,487 | 2,208,093
Total capital (TC = T1 + T2) | 11,315,589 | 11,921,976
Risk-weighted assets in respect of amounts subject to pre-CRR treatment and transitional treatments subject to phase out as prescribed in Regulation (EU) No 575/2013 (i.e. CRR residual amount) | 37,338,376 | 37,123,819
Total risk-weighted assets (RWA) | 37,338,376 | 37,123,819

A presentation of consolidated own funds in accordance with CRR can be found in the consolidated financial statements in the
chapter Capital management and total capital according to CRR/CRD IV and Austrian Banking Act (BWG).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 587
Own funds requirements and risk-weighted assets
The following table shows the risk-weighted exposure in accordance with Regulation (EU) 2024/1623 (CRR III/Basel IV), which
came into force on 1 January 2025. Until the end of 2024, the risk-weighted exposure was calculated in accordance with the
requirements of Regulation (EU) No. 575/2013 (CRR II/Basel III). The entry into force of Regulation (EU) 2024/1623 (CRR III) on
1 January 2025 led to significant changes in the calculation of risk-weighted assets and capital requirements, in particular
through revised standards for credit and operational risk. These regulatory changes form the basis for shifts within the
individual risk positions, including the cancellation or redefinition of individual categories. As a consequence, comparability with
historical figures is no longer fully possible.

in € thousand | 31/12/2025 | 31/12/2024
| Risk-weighted exposure | Capital requirement | Risk-weighted exposure | Capital requirement
Total risk-weighted assets (RWA) | 37,338,376 | 2,987,070 | 37,123,819 | 2,969,906
Risk-weighted exposure amounts for credit, counterparty credit and dilution risks and free deliveries | 26,777,948 | 2,142,236 | 30,059,228 | 2,404,738
Standardized approach (SA) | 11,826,268 | 946,101 | 1,255,003 | 100,400
Exposure classes excluding securitization positions | 11,826,268 | 946,101 | 1,255,003 | 100,400
Central governments and central banks | 12,811 | 1,025 | 12,258 | 981
Regional governments or local authorities | 86,761 | 6,941 | 53,668 | 4,293
Public sector entities | 43,772 | 3,502 | 54,837 | 4,387
Multilateral development banks | 573 | 46 | 90,509 | 7,241
International organizations | 0 | 0 | 0 | 0
Institutions | 1,552 | 124 | 2,118 | 169
Corporates | 19,599 | 1,568 | 0 | 0
Retail | 312,954 | 25,036 | 283,665 | 22,693
Secured by mortgages on immovable property | 492,498 | 39,400 | 735,336 | 58,827
Exposure in default | 21,841 | 1,747 | 27,301 | 2,184
Items associated with particular high risk | 0 | 0 | 0 | 0
Covered bonds | 0 | 0 | 0 | 0
Claims on institutions and corporates with a short-term credit assessment | 0 | 0 | 0 | 0
Collective investments undertakings (CIU) | 0 | 0 | 0 | 0
Equity interests | 10,817,219 | 865,377 | 65,508 | 5,241
Other items | 16,689 | 1,335 | 19,406 | 1,552
Securitization positions | 0 | 0 | 0 | 0
Hereof: Resecuritization | 0 | 0 | 0 | 0
Internal ratings based approach (IRB) | 14,096,446 | 1,127,716 | 27,798,922 | 2,223,914
IRB approaches when neither own estimates of LGD nor conversion factors are used | 13,295,457 | 1,063,637 | 15,067,993 | 1,205,439
Central governments and central banks | 0 | 0 | 0 | 0
Institutions | 2,352,903 | 188,232 | 2,393,947 | 191,516
Corporates - Purchased receivables 1 | 244,349 | 19,548 |  |
Corporates - SME 1 |  |  | 171,801 | 13,744
Corporates - Specialized lending | 1,451,682 | 116,135 | 1,260,987 | 100,879
Corporates - Other | 9,246,524 | 739,722 | 11,241,258 | 899,301
IRB approaches when own estimates of LGD and/or conversion factors are used |  |  |  |
Equity interests | 193,810 | 15,505 | 12,192,884 | 975,431
Other non-credit obligation assets | 607,179 | 48,574 | 538,045 | 43,044
Securitization positions | 855,233 | 68,419 | 1,005,303 | 80,424

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
588 Notes

in € thousand | 31/12/2025 | 31/12/2024
| Risk-weighted exposure | Capital requirement | Risk-weighted exposure | Capital requirement
Total risk exposure amount for settlement/delivery | 22,253 | 1,780 | 18,873 | 1,510
Settlement/delivery risk in the non-trading book | 48 | 4 | 0 | 0
Settlement/delivery risk in the trading book | 22,205 | 1,776 | 18,873 | 1,510
Total risk exposure amount for position, foreign exchange and commodities risk | 3,616,078 | 289,286 | 3,065,494 | 245,240
Risk exposure amount for position, foreign exchange and commodities risks under standardized approaches (SA) | 1,359,713 | 108,777 | 1,777,764 | 142,221
Traded debt instruments | 426,274 | 34,102 | 288,139 | 23,051
Equity interests | 160,490 | 12,839 | 120,844 | 9,668
Particular approach for position risk in CIUs | 28,963 | 2,317 | 5,259 | 421
Foreign exchange | 722,071 | 57,766 | 1,335,732 | 106,859
Commodities | 21,915 | 1,753 | 27,790 | 2,223
Risk exposure amount for position, foreign exchange and commodities risks under internal models (IM) | 2,256,365 | 180,509 | 1,287,730 | 103,018
Total risk exposure amount for operational risk (OpR) | 6,528,109 | 522,249 | 3,788,531 | 303,082
Total risk exposure amount for credit valuation adjustments | 289,851 | 23,188 | 191,694 | 15,335
Reduced Basic approach (R-BA)1 | 289,851 | 23,188 |  |
Standardized method 1 |  |  | 191,694 | 15,335
Other risk exposure amounts | 104,137 | 8,331 | 413 | 33
Of which: Transitional risk exposure amount related to crypto assets due to Article 501d (2) of Regulation (EU) No 575/2013 1 | 13,952 | 1,116 |  |
1 Repeal or redefinition of individual categories |  |  |  |

Equity ratios

in per cent | 31/12/2025 | 31/12/2024
Common equity tier 1 ratio | 20.6% | 21.4%
Tier 1 ratio | 24.9% | 26.2%
Total capital ratio | 30.3% | 32.1%

Leverage ratio

in € thousand | 31/12/2025 | 31/12/2024
Leverage exposure | 76,882,225 | 92,997,127
Tier 1 capital | 9,289,102 | 9,713,883
Leverage ratio in per cent | 12.1% | 10.4%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 589
· Notes to the income
statement
Income by geographic market in accordance with
section 64 (1) 9 BWG
A regional allocation to segments according to the business outlets’ registered offices results in the following distribution:

2025 in € thousand | Total | Austria | Rest of Europe | Asia
Interest receivable and similar income | 2,118,767 | 2,079,917 | 37,455 | 1,395
hereof: from fixed-income securities | 371,743 | 371,638 | 0 | 104
Income from variable-yield securities and participations | 1,388,616 | 1,388,616 | 0 | 0
Fee and commission income | 539,579 | 538,737 | 842 | 0
Net profit or net loss on financial operations | 19,365 | 15,853 | 1,957 | 1,555
Sundry operating income | 288,602 | 252,777 | 31,149 | 4,676

2024 in € thousand | Total | Austria | Rest of Europe | Asia
Interest receivable and similar income | 2,936,955 | 2,858,504 | 76,497 | 1,953
hereof: from fixed-income securities | 289,457 | 289,271 | 0 | 185
Income from variable-yield securities and participations | 2,278,249 | 2,278,249 | 0 | 0
Fee and commission income | 568,518 | 567,383 | 1,135 | 0
Net profit or net loss on financial operations | 110,859 | 108,991 | 2,881 | (1,013)
Sundry operating income | 300,404 | 263,896 | 31,957 | 4,552

Negative interest rates
In principle, RBI AG shows negative interest from loans and advances under interest income, and negative interest from
liabilities under interest expense. However, this topic is currently not relevant due to the development of interest rates in the
financial year under review and the previous financial year.
Other operating income
Other operating income includes staff and administrative expenses passed on for services in the amount of € 172,549 thousand
(2024: € 144,199 thousand), income from releases of provisions for impending losses from derivatives in the amount of € 10,300
thousand (2024: € 26,174 thousand), and income from close-out fees for derivatives on the banking book in an amount of
€ 30,228 thousand (2024: € 26,393 thousand), income from the release of other provisions in the amount of € 6,209 thousand
(2024: € 7,653 thousand), and income from recharging of services to and services to be recharged to network banks of RBI AG in
connection with the takeover of the digitalization projects of RBI Retail Innovation GmbH in the amount of € 26,798 thousand
(2024: € 34,027 thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
590 Notes
Staff expenses
Expenses for severance payments and benefits for occupational employee pension funds in the amount of € 6,897 thousand
(2024: € 11,685 thousand) include € 1,394 thousand (2024: € 6,473 thousand) in expenses for severance payments.
Expenses for severance payments and pension expenses contain effects from the changes in actuarial parameters used to
determine provisions as well as discounting effects.
Other administrative expenses
The auditor expenses for the financial year, broken down by service, are presented in the consolidated financial statements.
Sundry operating expenses
The sundry operating expenses fell € 379,620 thousand to € 448,029 thousand in 2025. This includes allocations for provisions
for impending losses for banking book derivatives in an amount of € 13,627 thousand (2024: € 6,706 thousand), allocations for
other provisions for liabilities and charges (see also the item Provisions in the statement of financial position and the section
Litigation risk for foreign currency loans in Poland) of € 81,256 thousand (2024: € 545,111 thousand), as well as expenses deriving
from close-out fees for banking book derivatives in an amount of € 33,797 thousand (2024: € 39,108 thousand). Also included
are expenses from staff and administrative costs passed on in the amount of € 62,092 thousand (2024: € 37,231 thousand),
expenses from the takeover of the digitalization projects of RBI Retail Innovation GmbH in the amount of € 28,852 thousand
(2024: € 34,169 thousand), and expenses in connection with out-of-court settlements regarding foreign currency loans in the
Poland branch in the amount of € 215,779 thousand (2024: € 109,760 thousand).
Disposal and valuation of loans and advances and
securities classified as current assets
Net income/expenses from the disposal and valuation of loans and advances and securities classified as current assets
recorded a negative balance – as in the previous year – of € 185,583 thousand (2024: € 176,110 thousand). This change derived,
firstly, from a positive net gain/loss on the valuation and disposal of current assets including losses on contractual
adjustments as well as banking book derivatives in the total amount of € 4,076 thousand (2024: minus € 7,458 thousand) and
from a reduction in the net gain/loss on the valuation of loans and advances as well as guarantees to an amount of minus
€ 189,659 thousand (2024: minus € 168,651 thousand).
In the area of individual impairment allowances, RBI AG recorded a net addition to impairment allowances of € 122,903
thousand. This represents a decrease in the allocation of € 140,593 thousand compared to the previous year. This development
compared to the previous year is due to lower default and loss rates among major customers, particularly in the property and
industrial financing segments. In the area of portfolio-based impairment allowances, in contrast to 2024 an increase in
impairment allowances for non-defaulted receivables was recorded in the reporting year. Accordingly, a net allocation to
portfolio-based impairment allowances was recognized in an amount of € 67,996 thousand in the financial year under review
(2024: net release of € 84,993 thousand). This development is mainly due to changes in management overlays and the updating
of the risk assessment (in particular due to rating changes). In the previous year, there were also several cancellations and
resultant transfers to Stage 3. For substantial as well as non-substantial contract modifications, losses in carrying amounts of
minus € 7,506 thousand (2024: minus € 9,445 thousand) were realized in the financial year under review. Net income from
extraordinary disposals of loan receivables amounted to minus € 858 thousand (2024: minus € 545 thousand). As in the
previous year, no significant gains or losses were realized on shares in investment funds.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 591
Disposal and valuation of securities evaluated as
financial investments and of shares in affiliated
companies and participating interests
In the financial year 2025, an amount of € 918 thousand net in price gains was realized on the disposal of securities evaluated
as financial investments. In the comparable period 2024, the price loss was € 3,515 thousand.
In addition, in the financial year, the item net income/expenses from the disposal and valuation of securities evaluated as
financial investments and of shares in affiliated companies and participating interests included reversals of write-downs in the
total amount of € 258,335 thousand, of which € 210,281 thousand was attributable to RZB-BLS Holding GmbH, € 31,801
thousand to Raiffeisenbank JSC (AVAL), and € 5,073 thousand to Posojilnica Bank eGen. In total, positive net gains of € 2,097
thousand (2024: € 2,008 thousand) were realized on the sale of shares in affiliated companies and participating interests in the
financial year.
Furthermore, a total amount of € 52,963 thousand in shares in affiliated companies and participating interests was written
down in the financial year under review. This included write-downs of € 37,991 thousand for Raiffeisen Bausparkasse
Gesellschaft m.b.H. and of € 4,142 thousand for LOTA Handels- und Beteiligungs-GmbH.
The valuation of the participating interest in AO Raiffeisenbank as at 31 December 2025 is unchanged compared to 31
December 2024 (2024: write-down of € 1,212,000) and is based on a company value determined in accordance with the
professional standard for business valuations KFS/BW 1, which is based on a dividend discount model of different probability-
weighted scenarios and is supported by an external valuation report. Taking into account § 204 (2) UGB and § 208 (1) UGB, the
fact that all scenarios are adequately reflected in the existing valuation approach and the continued existence of the reasons
for impairment, RBI AG determined the valuation as at 31 December 2025 should remain unchanged from the previous year.
A total of € 207,469 thousand in gains (2024: € 1,184,950 thousand in losses) from both the valuation and disposal of shares in
affiliated companies and participating interests has therefore been recognized.
Tax on profit or loss
The tax on profit or loss shows net positive income from taxes in the amount of € 19,936 thousand for the financial year 2025
(2024: € 12,354 thousand). The item includes income from current income taxes of € 23,821 thousand (2024: € 18,817 thousand),
a deferred tax expense of € 8 thousand (2024: deferred tax income of € 300 thousand) and a tax expense for previous years of
€ 11 thousand (2024: € 3,445 thousand). Furthermore, foreign withholding taxes are included in an amount of € 3,867 thousand
(2024: € 3,320 thousand).
RBI AG is the group parent of a corporate group pursuant to Section 9 of the Corporation Tax Act (KStG). As of 31 December
2025, 65 companies (including the parent company) were members of the group of companies (31/12/2024: 66 companies)
pursuant to Section 9 of the Corporation Tax Act (KStG). If a group company achieves a positive taxable result, the tax
allocation to be paid for the tax-deductible profit share is 11.5 per cent and for the non-deductible profit share 23 per cent. In
addition, the positive tax levy amounts to 11.5 per cent if a positive result of a group company reduces the balance on the
record account (i.e. an off-book account that the group parent keeps for the group company for the purpose of keeping
records of negative results of the group member and later offsetting them against positive results of the group member). In
the event of negative results for tax purposes, the group member has a claim against the group parent amounting to 11.5 per
cent of the negative result.
At the end of 2022, the EU adopted the Directive on implementing a global minimum tax rate of 15 per cent on profits of
multinational companies in accordance with the OECD’s Base Erosion and Profit Shifting Project. In Austria, the Directive was
implemented through the Minimum Taxation Act (MinBestG). The above-mentioned net income from current income taxes of
€ 23,821 thousand includes an expense of € 7,899 thousand (2024: € 7,266 thousand) in this connection.
Result from Business Combinations
Through holding companies, Raiffeisen Bank International AG holds participating interests in several Austrian subsidiaries. The
aim of an optimization project in 2024 was to simplify the holding structure through restructurings. This reduced the number of
intermediate holding companies, which resulted in a more streamlined and more transparent ownership structure. The
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
592 Notes
optimization was achieved through several restructuring steps in the financial year 2024 (transfers, upward and downward
mergers) as well as capital adjustments and contributions.
The restructuring result shown in the financial year 2024 of € 164,185 thousand originated from the difference between the
diminishing equity investment in RBI Beteiligungs GmbH and the balance of the net assets acquired.
Branches on a consolidated basis

2025 |  |  |  |  |  |
in € thousand | Bratislava | Frankfurt | London | Beijing | Singapore | Warsaw
Domicile state | Slovakia | Germany | Great Britain | China | Singapore | Poland
Net interest income | (803) | 0 | 0 | 868 | 104 | 36,445
Operating income | (14,179) | 4 | (27) | 2,419 | 104 | 43,193
Profit on ordinary activities | (16,146) | (1,845) | (4,575) | (969) | (1,815) | (322,431)
Income taxes | (237) | (56) | (72) | (175) | 0 | 0
Number of employees (average) | 20 | 7 | 12 | 15 | 5 | 333
Public subsidies received | None | None | None | None | None | None

2024 |  |  |  |  |  |
in € thousand | Bratislava | Frankfurt | London | Beijing | Singapore | Warsaw
Domicile state | Slovakia | Germany | Great Britain | China | Singapore | Poland
Net interest income | 0 | 0 | 0 | 1,223 | 185 | 75,674
Operating income | (20,124) | 29 | 154 | 197 | 185 | 83,879
Profit on ordinary activities | (21,933) | (1,889) | (4,432) | (3,438) | (1,510) | (653,645)
Income taxes | (278) | (51) | (105) | (192) | 0 | 0
Number of employees (average) | 20 | 7 | 13 | 15 | 4 | 321
Public subsidies received | None | None | Keine | None | None | None

With regard to the business areas in which the branches operate, please refer to the chapter Branches and representative
offices in the management report
Overall return on assets
The overall return on assets (net loss or profit after tax divided by the average total assets) in 2025 was 1.13 per cent (2024:
0.37 per cent).
Profit contribution from 2024
On 26 March 2025, the Annual General Meeting resolved to distribute a dividend of € 1.10 per dividend-bearing share for the
2024 financial year. This equates to a distribution amount of € 360,681,550.
Proposal for the appropriation of profits
The Management Board will make a proposal to the Annual General Meeting on 9 April 2026 to distribute a dividend of € 1.60
per share. Based on the shares issued, this would result in a maximum amount of € 525 million.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 593
· Other
Transactions with related parties (companies and individuals) are limited to banking business transactions that are carried out
at fair market conditions.
In the financial year the company had an average of 3,938 employees (2024: 3,870).
Expenses for severance payments and pensions

| Pension | Severance payments
in € thousand | 2025 | 2024 | 2025 | 2024
Members of the management board and senior staff | 6,958 | 4,819 | (1,948) | 1,377
Employees | (8,025) | 4,305 | 8,845 | 10,361
Total | (1,067) | 9,125 | 6,897 | 11,738

Severance and pension expenses from provisions also include effects from changes in actuarial parameters used to calculate
provisions as well as interest rate effects. The actuarial gains in the financial year 2025 resulted from lower salary increases
affecting pensions and severance payments as well as higher actuarial interest rates. Both parameters have the effect of
reducing provisions and are included in the table above.
Boards
Management Board

Members of the Management Board | Initial appointment | End of term
Johann Strobl, Chairman | 10 October 2010 | 30 June 2026
Marie-Valerie Brunner | 1 November 2023 | 31 October 2026
Andreas Gschwenter | 1 July 2015 | 30 June 2029
Łukasz Januszewski | 1 March 2018 | 30 April 2025
Kamila Makhmudova | 1 January 2026 | 31 December 2028
Hannes Mösenbacher | 18 March 2017 | 28 February 2030
Rainer Schnabl | 1 March 2026 | 28 February 2029

The Supervisory Board resolved to realign the allocation of responsibilities within the Management Board and appointed two
new members to the Management Board in October 2025. The CFO function will once again form a separate Management
Board division and will be assumed by Kamila Makhmudova effective 1 January 2026. The new Management Board member for
CIB Products & Solutions will be Rainer Schnabl, who will succeed Łukasz Januszewski on 1 March 2026. Furthermore, the
Supervisory Board has decided to appoint Michael Höllerer as the new CEO effective 1 July 2026 as well as to extend the term
of office of Andreas Gschwenter until 30 June 2029. The management of the Retail division will be carried out by the CEO after
the conclusion of Andrii Stepanenko’s Management Board mandate on 28 February 2026.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
594 Notes
Supervisory Board

Supervisory Board members | Initial appointment | End of term
Erwin Hameseder, Chairman | 10 October 2010 | Annual General Meeting 2030
Martin Schaller, 1st Deputy Chairman | 4 June 2014 | Annual General Meeting 2029
Reinhard Schwendtbauer, 2nd Deputy Chairman | 26 March 2025 | Annual General Meeting 2030
Heinrich Schaller, 2nd Deputy Chairman 1 | 20 June 2012 | Annual General Meeting 2025
Michael Alge | 31 March 2022 | Annual General Meeting 2027
Eva Eberhartinger | 22 June 2017 | Annual General Meeting 2027
Andrea Gaal | 21 June 2018 | Annual General Meeting 2028
Michael Höllerer | 31 March 2022 | Annual General Meeting 2026
Rudolf Könighofer | 22 June 2017 | Annual General Meeting 2027
Heinz Konrad | 20 October 2020 | Annual General Meeting 2030
Reinhard Mayr 1 | 20 October 2020 | Annual General Meeting 2025
Birgit Noggler | 22 June 2017 | Annual General Meeting 2027
Christof Splechtna | 26 March 2025 | Annual General Meeting 2030
Manfred Wilhelmer | 21 November 2023 | Annual General Meeting 2028
Natalie Egger-Grunicke 2 | 18 February 2016 | Until further notice
Peter Anzeletti-Reikl 2 | 10 October 2010 | Until further notice
Rudolf Kortenhof 2 | 10 October 2010 | Until further notice
Gebhard Muster 2 | 22 June 2017 | Until further notice
Helge Rechberger 2 | 10 October 2010 | Until further notice
Denise Simek 2 | 1 October 2021 | Until further notice
1 Resigned with the Annual General Meeting 2025 |  |
2 Delegated by the Staff Council |  |

State Commissioners
· Johann Kinast, State Commissioner (since 1 June 2024)
· Matthias Falkensteiner-Kudweis, Deputy State Commissioner (since 1 April 2021)
Remuneration of members of the Management
Board
The following remuneration was paid to the Management Board:

in € thousand | 2025 | 2024
Fixed remunerations | 4,676 | 4,922
Bonus (performance-based) | 4,131 | 3,423
Payments to pension funds and reinsurance policies | 418 | 411
Other remunerations | 1,286 | 1,223
Total | 10,511 | 9,979
hereof remuneration from affiliated companies (Supervisory board remuneration) | 1,147 | 1,041

The fixed remunerations shown in the table include salaries and non-cash benefits.
The performance-based components of the Management Board’s remuneration cover bonus payments. The bonuses reported
above are immediately payable bonus amounts for 2024 and deferred bonus amounts for previous years. A provision of € 4,491
thousand was recognized for bonuses for members of the Management Board for the financial year 2025, of which € 898
thousand will be paid out in the financial year 2026 and € 3,593 thousand in subsequent years (see details on the recognition of
bonus provisions in the section on recognition and measurement principles).
The bonus agreement is linked to the achievement of annually agreed objectives. The respective step-in criteria as well as the
individual performance targets can be found in the current remuneration policy (www.rbinternational.com → Corporate
Governance & Remuneration → Remuneration Policy).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 595
The amount of the bonus depends on the return on equity and on the cost/income ratio, and the objectives are derived from
the Group’s target medium-term ROE. Payment is made according to the applicable regulations of the Austrian Banking Act
(BWG) implemented in the internal regulations.
Other remuneration covers remuneration for functions in the boards of affiliated subsidiaries, insurance policies and grants.
An amount of € 1,601 thousand (2024: € 1,610 thousand) was paid in pension benefits to former members of the Management
Board and to their surviving dependents in the 2025 financial year. In addition to these amounts, short-term benefits and
deferred bonus components as well as severance payments totaling € 448 thousand (2024: € 813 thousand) were paid to
former members of the Management Board.
In addition to the amounts presented above, there are expenses of € 6,450 thousand (31/12/2024: € 4,807 thousand) as portions
of the bonus provision, which relate to deferred bonus portions payable in cash and retained portions payable in instruments.
In the case of the latter, valuation changes due to exchange rate fluctuations are also taken into account.
Remuneration of members of the Supervisory Board

in € thousand | 2025 | 2024
Remunerations Supervisory Board | 1,489 | 1,397

At the Annual General Meeting held on 4 April 2024, a remuneration model for the Supervisory Board was approved, starting
from 1 April 2024, and for subsequent years, unless the General Meeting decides otherwise in the future.
The following distribution of compensation was determined:
· For the Chairman of the Supervisory Board € 160 thousand
· For the Deputy Chairman of the Supervisory Board € 110 thousand each
· For each additional elected member of the Supervisory Board € 70 thousand
· For the Chairman of the Audit Committee and the Risk Committee an additional € 20 thousand each
· For the Chairman of the Digitalization Committee an additional € 10 thousand
The annual compensation for the respective fiscal year will be allocated proportionally or in full according to the duration of
the respective supervisory board mandate. Each elected member of the Supervisory Board will also receive an attendance fee
of € 1.2 thousand for attending a meeting.
In the 2025 financial year, no contracts subject to approval within the meaning of § 95 (5) 12 of the Austrian Stock Corporation
Act (AktG) were concluded with members of the Supervisory Board.
Remuneration of members of the Advisory Council

in € thousand | 2025 | 2024
Remuneration Advisory Council | 201 | 193

At the Annual General Meeting held on 21 June 2018, a remuneration model for the Advisory Council was approved, starting
from 1 January 2017, and for subsequent years, unless the General Meeting decides otherwise in the future.
The following distribution of compensation was determined:
· For the Chairman of the Advisory Council € 25 thousand
· For the Deputy Chairman of the Advisory Council € 20 thousand
· For each additional member of the Advisory Council € 15 thousand each
The annual compensation for the respective fiscal year will be allocated proportionally or in full according to the duration of
the respective advisory board mandate. Each member of the Advisory Council will also receive an attendance fee of € 1
thousand for attending a meeting.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
596 Notes
Amounts of loans and grants extended to members of the Management
Board and Supervisory Board, as well as other legal transactions
The relationships of members of the Management Board and Supervisory Board to RBI AG are as follows:

in € thousand | 2025 | 2024
Debt securities | 1,911 | 1,554
Shares | 6,533 | 3,516
Deposits and other receivables | 1,207 | 641
Loans and other liabilities | 184 | 204
Lease liabilities | — | 13

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Notes 597
· Events after the reporting
date
There were no significant events after the reporting date.
Signed by:
Vienna, 17 February 2026
The Management Board

Johann Strobl m.p. Chairman of the Board, CEO | Marie-Valerie Brunner m.p. Member of the Board, CIB Customer Coverage and CIB Products & Solutions
Andreas Gschwenter m.p. Member of the Board, COO/CIO | Kamila Makhmudova m.p. Member of the Board, CFO
Hannes Mösenbacher m.p. Member of the Board, CRO | Andrii Stepanenko m.p. Member of the Board, Retail Banking

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
598 Management report
Management report
· Market development
Industry and trade policy creates headwinds for Europe’s economy
The year of 2025 was marked by various geopolitical uncertainties. The US tariffs announced in April intensified trade policy
tensions. Economic momentum weakened in the US, but the growth rate was still far from recessionary levels. Although
industry showed signs of stabilization over the course of the year, in Western Europe, economic headwinds were felt
particularly keenly by countries that were more reliant on manufacturing, such as Germany or Austria, while more service-
driven economies experienced above-average momentum. Most economies of the CE/SEE region managed to offset industrial
weakness with solid consumer spending and investment momentum. Fiscal policy came under more scrutiny in Europe due to
Germany’s announcement of extensive defense and infrastructure investments and France’s strained finances. These
developments were also reflected in government bond markets and drove up government bond yields and risk premiums.
Inflation in the euro area settled at around two per cent over the course of the year, while prices in Austria bucked the general
trend and rose again in 2025. The ECB subsequently ended its gradual rate cuts in June and kept the key interest rate level
stable through year-end. Given the uncertainty over how US tariffs would affect consumer prices, the US Federal Reserve did
not continue the rate-cutting cycle that began in 2024. However, this only held true for the first half of 2025: Lower inflationary
effects of tariffs, but especially a more pronounced weakening of the US labor market, prompted the US Federal Reserve to
resume interest rate cuts in the fall.
The euro area economy proved remarkably resilient in 2025 despite a challenging global environment (US tariffs). Despite
temporary fluctuations caused by volatile US export trends, the euro area economy managed to gain momentum slightly
compared to the previous year. The service sector continued to serve as the main pillar of the economy, while the
manufacturing sector showed improvement from a low level. Against this backdrop, national divergence within the euro area
persisted, with service-oriented economies such as Spain once again recording significantly better momentum than
manufacturing-heavy countries such as Germany. The labor market situation in the euro area remained resilient, characterized
by a low unemployment rate and solid employment levels. Inflation finally returned to the two per cent target over the course
of the year, driven by the weakening of previously persistent upward pressures on core service prices.
The ECB lowered its deposit rate 100 basis points in the first half of 2025. That means the ECB deposit rate has stood at 2 per
cent since June 2025. While the rate-cutting cycle came to an end, the ECB continued to trim its balance sheet. Bond holdings
were no longer reinvested at maturity in either bond purchase program. The supply of liquidity in the euro area shrank as a
result, although it did remain sufficient. Consequently, there were no disruptions in the money markets. The Euribor money
market rates stabilized just above 2 per cent after having trended downward during the rate-cutting cycle. The monetary
policy outlook was not the only factor shaping the German government bond market. The primary driver was Germany’s
revised fiscal policy; US tariff policy had an influence as well. In summary, the European markets in 2025 were predominantly
marked by a steepening of the monetary and yield curve structures.
The Austrian economy managed to return to a growth trajectory in 2025 after two consecutive years of recession. However,
with GDP growth of just 0.6 per cent, Austria remained among the worst performers in the euro area. Economic momentum
remained modest throughout the year. Significant impetus came from both private and public consumption, while foreign
trade proved to be a drag on growth. While the industrial recession came to an end in 2025, the downward trend in the
construction sector continued. Unlike in the euro area, inflation in 2025 was significantly higher than in the previous year. It was
driven by persistently high service-sector inflation and the expiration of temporary interventions in the energy market.
CEE: Significant disparities within the region
Due to the trade openness and economic structure of countries in Central Europe (CE), growth was hampered by US tariffs
and Germany’s sluggish economic performance. Nevertheless, economic performance remained resilient in Poland, which has
benefited from an acceleration in NGEU fund disbursements since the second half of 2025, as well as the Czech Republic.
Hungary and Slovakia were held back by their strong export dependence, close integration with the German automotive
industry and subdued consumption. The Slovak economy was also negatively affected by fiscal consolidation.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 599
Growth in Southeastern Europe (SEE) exceeded the euro area average, with several rapidly expanding economies standing
out. Albania and Croatia, for example, benefited from persistently strong tourism and consumption. Weaknesses emerged in
some countries as well: Serbia recorded relatively subdued growth due to lower investment, while Romania’s economy suffered
from fiscal consolidation, making it the laggard of the region. In Bosnia and Herzegovina, local political issues compounded an
already challenging global environment. Persistent inflation and uncertainty also had a dampening effect on consumption,
although this was offset by a robust labor market. Both initial disbursements under the Growth Plan for the Western Balkans
and the NGEU funds once again made the EU an important driver of investment in the region in 2025.
The ongoing war continued to weigh heavily on the Ukrainian economy in 2025. Increasing attacks on civilian targets, energy
infrastructure and industries involved in extracting resources such as natural gas posed major challenges and increased the
need for energy imports. Despite these obstacles, the economy demonstrated remarkable resilience and adaptability. External
support, even without direct assistance from the US, formed an important foundation for Ukraine’s resilience.
The Russian economy cooled down noticeably in 2025. It struggled under growing burdens posed by a lack of investment,
driven by high interest rates and sanctions. Lower domestic demand simultaneously drove down inflation, giving the central
bank leeway to initiate a rate-cutting cycle.
Annual real GDP growth in per cent compared to the
previous year

Region/country | 2024 | 2025e | 2026f | 2027f
Poland | 3.0 | 3.6 | 3.5 | 3.1
Slovakia | 1.9 | 0.8 | 1.5 | 1.7
Czech Republic | 1.1 | 2.5 | 2.2 | 2.6
Hungary | 0.6 | 0.4 | 1.8 | 2.3
Central Europe | 2.1 | 2.6 | 2.8 | 2.8
Albania | 4.0 | 3.7 | 3.8 | 3.9
Bosnia and Herzegovina | 3.2 | 2.0 | 2.5 | 2.8
Croatia | 3.8 | 3.2 | 2.6 | 2.5
Kosovo | 4.6 | 3.3 | 3.9 | 4.0
Romania | 0.9 | 0.8 | 1.3 | 2.5
Serbia | 3.9 | 2.0 | 2.8 | 3.0
Southeastern Europe | 2.3 | 1.8 | 2.1 | 2.8
Russia | 4.3 | 0.9 | 0.9 | 0.9
Ukraine | 2.9 | 2.1 | 3.0 | 4.5
Austria | (0.7) | 0.6 | 1.0 | 1.3
Euro area | 0.9 | 1.4 | 1.4 | 1.9
Source: Raiffeisen Research, as of beginning of February 2025, (e: estimate, f: forecast); subsequent revisions are possible for years already completed

Banking sector in Austria
In 2025, the Austrian banking sector carried on the good performance from 2024, albeit with more moderate results. The
operating business continued to be supported by sound net interest income and positive performance in the commission
business. In addition to rising operating costs, increased risk costs also had a dampening effect on the domestic banking
sector’s net income. The funding environment for the Austrian banking sector was challenging in 2025. Nevertheless, Austrian
banks once again held their own in the primary market and continued to successfully place respectable volumes, especially in
the senior segment.
The growth rates of issued loan volumes managed to move out of negative territory in the household segment, while the
corporate loan segment continued to show weak momentum in 2025. The household segment was supported by lower interest
rates and solid demand in residential construction; an annual growth rate (p.a.) of 1.3 per cent was reported as of December
2025. New lending volumes in residential construction increased as well. In contrast, the corporate segment reported annual
growth of 2.4 per cent (December 2025 vs. December2024) compared to growth of 1.9 per cent in the previous year. Monthly
annual growth rates in this segment showed neutral momentum in 2025. The banking sector’s capitalization increased further
compared to the start of 2025, reaching 18.4 per cent (common equity tier 1 ratio) as of September 2025. On 1 July 2025, the
systemic risk buffer for commercial real estate financing of 1 per cent came into effect. The buffer was evaluated at the
December meeting of the Financial Market Stability Board.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
600 Management report
Development of the banking sector in CEE
Following the easing of key monetary policy cycles, first at the national level and then by the ECB, profitability at CE/SEE banks
softened from previous peak levels. Nevertheless, the region’s aggregate return on equity (RoE) remained at a solid 17 per cent
in 2025 and maintained a lead of 7 percentage points over the euro area average. Inevitable setbacks in net interest margins
were partially offset by new loan volumes that were supported by the overall optimistic trend in the retail lending business,
while corporate loan growth was more polarized (leading in SEE, lagging in CE). Strong household credit demand was partly
supported by policy measures (government-subsidized residential construction loans) but also based on robust labor markets
and real wage growth. However, wage growth also contributed to inflation in banks’ cost base along with the ongoing
extraordinary tax charges. The sector’s liquidity situation remained quite favorable, with generally healthy loan-to-deposit
ratios and good access to market funding (MREL, covered bonds), which banks used to improve resource allocation toward
interest-bearing assets. Credit quality remained solid despite risk costs “normalizing” at higher levels in some markets and
industries (such as steel, automotive). In this regard, the effects of tariff risks were largely cushioned by IFRS 9 overlays, while
actual cases of borrower defaults have so far proven to be manageable.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 601
· Business performance at
Raiffeisen Bank International
AG
Business development
RBI AG is one of Austria’s leading corporate and investment banks. In the Corporates business area, it serves major
international and multinational customers as well as Austria's largest companies. They benefit from RBI AG’s comprehensive
expertise and service portfolio in areas such as capital markets, export finance, trade finance, cash management and
sustainable finance.
The Institutional Clients segment encompasses business relationships with banks, insurance companies, asset managers,
payment service providers, and other financial intermediaries. It also includes engagements with public institutions such as
finance ministries, export credit agencies, and supranational banks. This segment represents an integrated, client-centric
approach, ensuring tailored solutions for institutional partners. RBI Group supports these clients with a comprehensive range of
products and services, including clearing, settlement, and payment solutions, as well as custody and depository banking. In
addition, institutional clients benefit from access to capital market products, securities transactions, and wholesale funding
through debt capital markets, loans, securitization, investment products and fund finance structures. A key strength of the
Institutional Clients segment lies in its advisory capabilities, particularly in supporting ESG-related transactions and helping
clients in emerging markets in their transition to ESG standards. Our goal is to help clients advance their sustainability
objectives and foster long-term, responsible growth.
The Capital Markets business includes trading on own account and for third parties. RBI AG offers its customers individually
tailored solutions for liquidity and balance-sheet management, and for managing interest rate and currency risks as well. Its
particular strengths are interest rate, currency and credit products for the DACH and CEE regions. Cash products, derivatives
and structured products are also offered, as well as debt capital raising via bond issuance. A professional structuring team as
well as strong sales and placement power ensure successful project execution.
In the Raiffeisen Certificates, Retail Bonds & Equity Trading business area, RBI AG, as a leading and multi-award-winning
Austrian certificate provider, offers more than 6,000 investment and leverage products that allow risk/opportunity-optimized
investing, particularly for retail customers. This is a cross-asset offering aimed at customers in the DACH region as well as
many markets in Central and Eastern Europe. Raiffeisen certificates and retail bonds are publicly offered in 12 countries in both
the primary and secondary markets through stock exchanges, trading platforms and via RBI as a systematic internalizer. The
business area also includes market making and proprietary trading activities in equities, equity derivatives and commodities,
with a focus on Central and Eastern Europe. RBI is one of the leading market makers on various stock exchanges in this
segment.
The Treasury and Group Subsidiaries and Equity Investments businesses are, respectively, areas of internal control for the
bank’s refinancing and the equity investment portfolio.
Corporates
The Corporates business area manages Austrian and international corporate customers. In addition to Austria’s biggest
companies, it focuses on Western European corporate customers with operations in CEE, large Central and Eastern European
customers and multinational commodity and trading companies.
Despite a demanding geopolitical and economic environment, the corporate banking business managed from Vienna delivered
a solid performance in the year under review. Its position as a relationship bank was maintained and strengthened by providing
comprehensive support to corporate customers.
The Corporates business continued to deliver solid results, although income fell below the previous year’s strong performance,
primarily due to the changing interest rate environment.
While investment activity and demand for credit remained subdued across the region at the start of the financial year,
momentum increased slightly as the year progressed. The traditional lending business remained a major income driver. Other
important income streams fueled by deep product expertise included cash management, capital markets, structured project
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
602 Management report
and acquisition finance as well as real estate, trade and export finance. Deposits also made a significant contribution, albeit
less than in the previous year due to the changing interest rate environment. The strict reduction plan for the remainder of the
Russian business continued to be executed in line with regulatory requirements.
Risk costs remained elevated in 2025 as well due to the subdued economic situation. Overall, the Corporates business area
delivered solid results despite the challenging environment.
Following a successful partnership in equity research and sales, RBI and the ODDO BHF financial group have agreed to expand
their relationship into mergers and acquisitions (M&A) for Austria and CEE, pursuing a joint growth strategy for the region. As
part of this process, RBI’s M&A team was transferred to an ODDO BHF subsidiary in Vienna in the fourth quarter of 2025.
The customer care approach for corporate customers served in several countries was refined further in order to enable more
consistent service across the RBI Group.
Institutional Clients
The Institutional Clients (IC) segment demonstrated strong performance throughout FY 2025, with gross income levels
significantly surpassing expectations.
Key performance drivers included Certificates, supported by heightened client demand in Austria and CEE, and Capital Markets
Sales, driven by successful transactions in Special Situations Investments and Banknotes, alongside increased custody volumes
across NWUs and robust activity in Debt Capital Markets.
On the other hand, Cash Management saw a modest decline, primarily due to lower interest rates, reduced liquidity premiums,
and the impact of SEPA migrations in several CEE countries. Additionally, Trade Finance experienced a decrease linked to
compliance and risk constraints regarding CIS countries. These challenges are expected to be addressed through the
International Banking and other growth Initiatives.
We remain committed to accompanying our clients across all regions, delivering comprehensive support and services tailored
to their needs.
ESG remained a key focus with increasing demand from clients—ranging from those just beginning their ESG journey to those
already in transition—for sustainable banking solutions, including investments, trade finance and financing.
The IC Business is further pursuing the One Business Bank strategy, fully leveraging the introduced segment-oriented approach.
This ensures tailored and enhanced support for global banks—key infrastructure partners for RBI Group—and for local banks
that demand depend on RBI’s products and services to access international markets. By embracing this segment-focused
model, we are strengthening relationships, optimizing coverage and delivering even greater value to our institutional clients
through more focused approach.
Our data-driven initiatives, powered by AI technologies, are designed to maximize the time relationship managers can dedicate
to their clients by reducing internal, non-client-related tasks. By leveraging advanced analytics to boost Trade Finance sales,
implementing intelligent sales signals for Capital Markets transactions and rolling out an AI Sales Assistant, we are
streamlining processes and improving efficiency. These innovations enable relationship managers to focus on building stronger
client relationships while driving better sales performance
Capital Markets
In 2025, our Capital Markets business delivered resilient results amid continued market uncertainty and evolving client needs.
Strategic investments in technology, product development and client relationships supported strong trading performance and
improved operational resilience.
Money market and securities financing activity remained stable and trading results exceeded expectations. New distribution
channels and product initiatives were launched to broaden client reach and diversify revenue sources.
Foreign exchange trading matched the prior year’s strong performance despite tighter bid‑ask spreads and margin
compression. This outcome was driven by disciplined positioning across a wide range of currencies, increased activity in
structured FX solutions, and further optimization of FX flow internalization via electronic trading. Profitability in physical gold
and banknotes improved on higher bullion demand.
Interest rate derivatives delivered another very successful year and met ambitious budget targets despite lower market
volatility. Corporate client volumes were lower than the previous year but were more than offset by increased flows from
institutional clients and business through the network in both EUR and local currencies. Continued investment in
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 603
market‑making technology and deeper institutional relationships materially supported these results and will be pursued
further.
Fixed‑income trading generated very positive revenue and business‑development outcomes. Credit and asset‑swap spreads
tightened while interest rates rose; the bank reinforced its market position and achieved a top placement in primary dealership
rankings (#1 for Austrian government bonds, #3 for Slovenian government bonds).
Data & Solutions made significant progress in monitoring, visualization and pricing capabilities. Machine‑learning based margin
optimization was deployed on FX trading platforms, and the proprietary pricing library was extended to cover risk‑free‑rate
swaps and integrated with a new fixed‑income pricing engine. Large parts of the tech stack were migrated to AWS to improve
scalability and cost efficiency, accompanied by substantial efforts to meet enhanced IT‑security standards. The team also
broadened the use of large language models, expanding from central‑bank statement analysis to client‑feedback analytics
and initiating an ask‑your‑data chatbot project.
Treasury
For medium to long-term refinancing, RBI AG uses long-term deposits and bond issues. Issuance is mainly done under RBI AG’s
€ 25,000,000,000 Debt Issuance Program, which enables bonds to be issued in different currencies, formats and structures. RBI
AG also has two dedicated programs for issuing small-volume bonds and certificates since the integration of Raiffeisen
Centro Bank AG.
In 2025, RBI AG was again very active in the international capital markets in benchmark format to fulfil its funding plan. One
€ 500 million senior preferred issue in February was followed by a € 500 million senior non-preferred issues in August and € 500
million senior preferred issue in November. In September RBI AG also placed € 500 million of additional core capital (Additional
Tier 1). RBI AG’s remaining refinancing requirements were covered by certificates and small private placements.
The total volume of multi-year deposits and issuance taken up in 2025 amounted to approximately € 5,011 million and had a
weighted maturity of approximately five years. At year-end 2025, the total volume of outstanding issued unsecured bonds
excluding AT1 amounted to approximately € 8,043 million.
Certificates and Equity Trading
Raiffeisen Certificates and retail bonds
Capital markets performed well in 2025. The domestic ATX index and many international equity indices climbed to record highs
despite ongoing economic and geopolitical uncertainty. In this environment, certificates – particularly full and partial capital-
protected products – reached new record levels as an investment solution for retail investors.
As a result, total issuance increased 46 per cent year-on-year in 2025, making a significant contribution to RBI AG’s funding. The
volume outstanding at the end of 2025 is thus at an all-time high (up 25 per cent from the end of 2024). A total of € 3.3 billion in
Raiffeisen certificates and retail bonds were traded in 2025.
In the Austrian Raiffeisen sector, the outstanding volume of Raiffeisen certificates and retail bonds reached a record level at
the end of 2025 (up 33 per cent from 2024). Newly placed volume in 2025 achieved an 85 per cent increase compared to 2024,
driven by investor education initiatives and tailored issuances.
The launch of the AI-powered chatbot RAIA also enhanced the digital services provided at raiffeisenzertifikate.at.
Raiffeisen certificates and retail bonds are now actively offered in 10 countries in Central and Eastern Europe. In addition to the
continued expansion of business in the core markets of Slovakia, the Czech Republic, Hungary, Croatia and Poland, significant
growth was achieved in Romania in particular. An overall increase in volumes sold (up 4.35 per cent from 2024) underscores the
importance and future potential of this region.
Furthermore, digital distribution through the online broker EDI (Easy Digital Investing) generated substantial sales growth (up
202 per cent from 2024). In addition to Raiffeisenbank Czech Republic, EDI was also rolled out for Raiffeisenbank Croatia
customers in July 2025.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
604 Management report
Raiffeisen Certificates also received several awards for its products and services in 2025. Raiffeisen Certificates was named
Austria’s Best Certificate House for the 19th time in a row at the Zertifikate Awards Austria ceremony. Furthermore,
international awards such as Best Structured Products Bank CEE 2025 from Capital Finance International (CFI), Capital Markets
Leader in Certificates from the Warsaw Stock Exchange, and the SPi Award in Milan highlight the expertise of the entire team.
Equity Trading
The technology sector and enthusiasm surrounding artificial intelligence fueled an upward trend in global equity markets in
2025. Geopolitical issues had less influence on price trends in equity markets, and temporary corrections – particularly the
downturn related to US tariffs and Liberation Day in April – were quickly reversed.
Market-making conditions in the Austrian home market remained challenging. However, they were offset by equity and
exchange-traded derivative business in Western and Eastern European markets as well as by structured solutions for
institutional and corporate customers, enabling us to surpass the previous year’s financial results.
The number of market-making mandates for equities and exchange-traded derivatives on the Central and Eastern European
exchanges decreased from 240 to 228 mandates in 2025. In addition, RBI AG acted as a systematic internalizer for 37 equities.
Looking at the number of market-making mandates at various equity and futures exchanges, RBI managed 117 mandates on
the Polish Stock Exchange in Warsaw, 30 mandates on the Vienna Stock Exchange, 14 mandates on the Bucharest Stock
Exchange, 30 mandates on the Prague Stock Exchange, 1 mandate on the Ljubljana Stock Exchange, and 36 mandates on
German equity and futures exchanges. .
Group Subsidiaries and Equity Investments
RBI AG’s participation strategy aims to safeguard and expand the strategic interests of RBI AG and to steadily increase the
value of the overall portfolio.
The business operations of RBI AG and its bank subsidiaries are complemented by numerous additional Austrian and
international subsidiaries in the strategic financial services sector as well as other participations, mostly in banking-related
ancillary services.
Material value changes were limited to a write-up of RZB-BLS Holding GmbH (€ 210 million) which is a financial holding for the
bank’s insurance investment in Uniqa and of Raiffeisenbank JSC (AVAL) (€ 32 million). A write-off was recorded regarding the
value of Raiffeisen Bausparkasse Gesellschaft m.b.H. (€ 38 million). Excluding the significant effects mentioned above, whose
root causes were largely firm-specific, the rest of the portfolio exhibited a stable development.
Governance, management and administration of the participation portfolio is done by RBI Group Subsidiaries and Equity
Investments.
Retail
RBI AG's retail business comprises on the one hand the portfolio of foreign currency retail mortgage loans in the Polish branch
in Warsaw. As at 31 December 2025, the net carrying value of credit exposures (net of impairment losses) was approximately
€ 0,9 billion, comprising € 0,66 billion (2024: € 0,6 billion) of Swiss franc loans, € 0,23 billion (2024: € 0,3 billion) of euro loans and
€ 0,01 billion (2024: € 0,01 billion) of Polish zloty loans.
The branch does not currently engage in deposit gathering or new customer acquisition, focusing instead on servicing the
foreign currency loans transferred to the branch until their final maturity and on providing services to the borrowers.
In 2025, as in previous years, the business environment was marked by a legal dispute between customers holding residential
mortgages denominated in Swiss francs and the banks. A provision of € 1.956 million (2024: € 2.071 million) was made for this
still unresolved legal issue).
Polish banks continued their strong run in 2025 maintaining sector-wide profitability (RoE) around 16 per cent. A pause in NBP's
monetary easing has been supportive to core income, though many players also managed to defend their lending margins
through other means. Meanwhile, regulatory costs and legal provisions for CHF loan risks will remain part of the fundamental
narrative, although the latter might be somewhat abating. Polish banks and also RBI-PL attempt to reach out of court
settlement agreements with customers – proactive pre-court settlements (before customers file a lawsuit) and in-court
settlements (once customers filed a lawsuit).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 605
Furthermore the business segment contains the credit card business in Austria. In 2025, credit card business in Austria
continued its strong performance, delivering sustained positive business development and further portfolio expansion. In
addition to robust ongoing organic growth, a major driver of this momentum was the migration of Raiffeisen card complete
customers across both the retail and corporate segments. The migration project was successfully completed in line with the
defined strategic objectives, further strengthening RBI’s position in the Austrian credit card market.
Also part of the retail segment is cashpresso, RBI AG’s Buy Now, Pay Later (BNPL) solution. Cashpresso in 2025 achieved a 19 per
cent growth in customer base and a 43 per cent growth in e-commerce volumes. This strong performance was driven by an
expansion of the partner shop network and a growing demand for BNPL solutions. Cashpresso is offered in Austria and
Germany, embedded in partner shops and enables consumers to finance online purchases and repay in small, flexible
installments.
To further enhance its BNPL offering, cashpresso launched new product - Split Pay. It allows consumers to buy products in
online shops, try at home and pay only for what they keep in three interest-free installments.
· Branches and representative
offices
RBI AG operates a total of six branches in Beijing, Bratislava, Frankfurt, London, Singapore and Warsaw. As service branches,
these branches support RBI AG in Vienna and the network banks in customer care and sales activities. In addition to these
branches, RBI AG also operates representative offices in Paris, Stockholm, Mumbai, Seoul and Ho Chi Minh City.
The Beijing branch primarily supports the CIB business line of RBI and its network banks in providing customer services and
sales activities relating to China. Chinese business activity in Central and Eastern Europe continues to increase strongly,
resulting in a need for local banking services. The branch in Beijing supports CEE and Austrian corporates in the region and
provides Chinese companies with access to RBI AG’s home markets. Cooperation was also sustainably positive in the 2025
financial year, with a continued business increase in the areas of new energy, digitalization and e-mobility. In particular, RBI AG
is increasingly involved in the transcontinental cash management and trading business of these companies and financial
institutions and is well positioned to offer local banking products in CEE to support the increasing Chinese investments in
certain sectors.
The branch in Slovakia covers a broad range of services and structured products (certificates) for retail customers of Tatra
banka a.s. in Slovakia. Following the integration into RBI AG, it has extended its range of services to include Group procurement
services and Group reporting services.
The Frankfurt branch successfully continued its consulting and structuring services within the RBI Group in 2025. Focusing on
business with German corporate customers with business requirements in the CEE region or operations in the home markets of
RBI Group, several new mandates for working capital financing or other transactions were obtained, supporting the expansion
of German corporate customers in RBI’s focus markets. Due to the challenges of the current geopolitical environment, the
evaluation of delivery chains and the topic of near shoring increased the attention towards the CEE region and an increased
number of inquiries from German SMEs was processed. In particular, the close dialogue with decision makers at customers’
head offices in Germany opens additional cross-selling potential and strengthens the relationships with RBI AG as well as with
its network banks in CEE. With the arrival of a new General Manager to the branch in Q4 2025, the customer focus of the office
will be further strengthened and new customer segments, such as Institutional Clients, will be approached as well.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
606 Management report
RBI AG has been present in London since 1989 and offers a broad range of services for different customer segments.
Institutional customers are served by our Capital Market Bond Desk, which offers primary and secondary sales of sovereign and
corporate bonds, including special CEE and CIS bonds in local currencies, as well as private placements and structured
products. A special focus is on fund financing and alternative investments, where the branch offers products such as
subscription credit facilities as part of its global asset-based finance activities. The London corporate desk provides corporate
customers based in the United Kingdom and Ireland with an extensive range of financial products and services offered by RBI
AG and the Group’s network banks.
Through its extensive knowledge of the local markets in Southeast Asia and its contacts with companies, banks and
authorities, the Singapore branch supports customers in sales activities, and also in establishing branches or partnerships with
local companies. Vice versa, the branch provides assistance to companies from the region to forge contacts with companies
and banks in Austria and Central and Eastern Europe.
The Polish branch portfolio mainly comprises retail customers’ foreign-currency mortgage loans. The branch focuses on the
administration of the foreign currency loans until their maturity. It also develops digital solutions for the market and
investment banking business of RBI AG, as well as its digital cloud solutions. In 2022, a competence center for the core banking
system Temenos T24 was established.
· Financial Performance
Indicators
Statement of Financial Position
RBI AG’s total assets were down € 2,964,534 thousand, or 3.6 per cent, to € 79,110,593 thousand in the 2025 financial year. On
the assets side, the decrease is mainly due to lower balances at central banks and a decline in loans to banks. On the liabilities
side, it mostly relates to a decline in deposits from banks.
The € 3,343,747 thousand, or 42.9 per cent, fall in cash reserves and balances at central banks to € 4,458,188 thousand resulted
mainly from decreased investment of surplus liquidity in the form of deposits at the Austrian National Bank.
Treasury bills and other bills eligible for refinancing with the central bank increased € 3,220,808 thousand, or 29.8 per cent, to
€ 14,024,088 thousand in the past financial year, mainly as a result of the higher volume of government bonds.
Loans and advances to banks decreased € 2,539,367 thousand, or 20.4 per cent, year-on-year to € 11,622,166 thousand, mainly
due to a decline in repo and lending business.
Loans and advances to customers increased € 536,624 thousand, or 1.9 per cent, year-on-year to € 28,155,445 thousand. There
was notably an increase in securitized loans, which were up € 619,295 thousand. Reflecting muted credit demand, especially at
the start of the year, loan volume adjusted for value adjustments showed a slight net fall of € 221,754 thousand, or 1.0 per cent.
Loan loss provisions on loans to customers declined € 660,368 thousand year-on-year to € 545,807 thousand due to a fall in
specific loan loss provisions, partly in connection with the derecognition of uncollectible loans.
Debt securities and other fixed-income securities increased € 607,127 thousand, or 16.8 per cent, compared to the previous
year-end, to € 4,226,882 thousand. This is mainly due to a € 523,990 thousand increase in debt securities and other fixed-
income securities from non-public issuers.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 607
Shares and other non-fixed-income securities increased € 59,494 thousand, or 6.9 per cent, year-on-year to € 926,021
thousand, which is due to a € 99,682 thousand increase in holdings of shares.
Investments in affiliated companies increased € 212,977 thousand, or 2.4 per cent, to € 9,152,677 thousand. This is primarily due
to write-ups of € 210,281 thousand at RZB – BLS Holding GmbH and of € 31,801 thousand at Raiffeisen Bank JSC (AVAL). A write-
down of € 37,991 thousand was recognized at Raiffeisen Bausparkasse Gesellschaft m.b.H.
Other assets decreased € 1,296,028 thousand, or 17.0 per cent, with a year-end carrying amount of € 6,310,916 thousand. This is
mainly due to € 999,695 thousand decrease in dividends receivable. In addition, the carrying amount of coined and uncoined
precious metals decreased € 345,109 thousand.
On the liabilities side, deposits from banks showed a decline of € 3,928,104 thousand, or 15.4 per cent, to € 21,575,315 thousand.
Deposits from banks represent a significant source of funding for RBI AG, at 27 per cent of total assets. Short-term clearing
business decreased € 1,644,610 thousand, while short-term money market transactions were down € 384,867 thousand. Long-
term money market transactions decreased € 1,003,707 thousand compared to the end of the previous year. There were also
declines in repo business (€ 526,810 thousand) and time deposits (€ 360,340 thousand).
Deposits from customers decreased € 613,233 thousand, or 3.5 per cent, to € 17,127,562 thousand. The decrease is mainly due to
lower time deposits and repo business, which were down € 786,878 thousand and € 247,910 thousand, respectively, on the
previous year-end. In contrast, long-term money market transactions increased € 460,546 thousand.
Securitized liabilities and supplementary capital according to CRR rose € 874,054 thousand, or 4.1 per cent, year-on-year to
€ 22,317,768 thousand. During the reporting year, RBI AG issued a further unsecured, non-subordinated senior non-preferred
bond for € 500,000 thousand (2024: € 500,000 thousand) with a maturity of six years. The issuer has the option of early
repayment after five years, in 2030.
Other liabilities showed a slight rise of € 158,876 thousand, or 3.4 per cent, year-on-year to € 4,869,689 thousand. The increase
related to € 308,600 thousand higher short positions in trading. This was partly offset by a € 192,561 thousand decrease in
liabilities from treasury transactions (negative market values from derivative financial instruments in the trading book and
accrued interest from derivatives in the banking book).
The provisions increased € 168,936 thousand, or 11.0 per cent, and included provisions of € 49,172 thousand for severance
payments (31/12/2024: € 53,133 thousand), provisions of € 43,044 thousand for pensions (31/12/2024: € 56,022 thousand), tax
provisions of € 41,958 thousand (31/12/2024: € 34,604 thousand), and other provisions of € 1,568,717 thousand (31/12/2024: €
1,390,196 thousand). The increase in tax provisions is mainly due to an allocation for 2025 in the amount of € 7,889 thousand to
the provision for implementation in Austria of the EU directive ensuring a global minimum level of taxation.
The rise in other provisions mainly relates, in the amount of € 178,521 thousand, to higher provisions for litigation risks, the main
item being the provisions concerning foreign currency loans in Poland (taking into account the provisions for active loans
deducted from the carrying amount, the provisions for foreign currency loans in Poland decreased in total compared to the
previous year). There was also a year-on-year decrease in provisions for other expenses, which were down € 48,718 thousand.
At the end of 2024, an amount of € 35,000 thousand was included for a pledged irrevocable shareholder contribution to
Raiffeisen Digital Bank AG that was paid in January 2025.
In relation to derivatives measured in functional units, hedge ineffectiveness, loan derivatives subject to individual valuation
and non-settled foreign currency derivatives in UAH, there are provisions for impending losses in the amount of € 66,341
thousand as of 31 December 2025 (31/12/2024: € 63,013 thousand).
Until the end of 2024, the risk-weighted exposure was calculated in accordance with the requirements of Regulation (EU) No
575/2013 (CRR II/Basel III). The entry into force of Regulation (EU) 2024/1623 (CRR III) on 1 January 2025 led to significant changes
in the calculation of risk-weighted assets and capital requirements, in particular due to revised standards for credit and
operational risk.
Total risk exposure at year-end 2025 amounted to € 37,338,376 thousand (2024: € 37,123,819 thousand). Of that amount, credit
risk accounted for € 26,777,948 thousand (2024: € 30,059,228 thousand), market risk for € 3,616,078 thousand (2024: € 3,065,494
thousand), and operational risk for € 6,528,109 thousand (2024: € 3,788,531 thousand). Total risk exposure thus remained
virtually unchanged with only a minor year-on-year increase of € 214,557 thousand.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
608 Management report
Common equity tier I (CET1) capital stood at € 7,683,303 thousand at year-end 2025 (2024: € 7,946,665 thousand). Tier 1 capital
amounted to € 9,289,102 thousand (2024: € 9,713,883 thousand). Additional Tier 1 capital of € 500,000 thousand was issued in
2025. In addition, additional Tier 1 capital of € 674,200 thousand was repurchased. Including accrued interest, additional Tier 1
capital before regulatory adjustments amounted to € 1,638,799 thousand as at 31 December 2025 (31/12/2024: € 1,800,218
thousand). Tier 2 capital amounted to € 2,026,487 thousand (2024: € 2,208,093 thousand). All in all, total capital amounted to €
11,315,589 thousand, compared to € 11,921,976 thousand at the end of the previous year. The CET1 ratio fell 0.8 percentage
points year-on-year to 20.6 per cent (2024: 21.4 per cent). The core tier 1 ratio was 24.9 per cent, compared to 26.2 per cent in
the previous year. The total capital ratio was 30.3 per cent (2024: 32.1 per cent). All capital ratios were comfortably above the
respective requirements (including all buffer and Pillar 2 capital requirements).
The committed capital reserves of € 4,340,692 thousand (31/12/2024: € 4,335,669 thousand) were virtually unchanged in the
financial year. The uncommitted capital reserves amounted to € 84,589 thousand (31 December 2024: € 93,467 thousand). The
slight decrease is due to trading in treasury shares in connection with the Certificates and Equity Trading business segment.
The number of treasury shares related to the share incentive program (SIP) for key personnel in the company (Management
Board and senior executives) and members of the management boards of associated bank subsidiaries where the treasury
shares were acquired in the years 2005 to 2009 amounted to 322,204 shares at year-end 2025. With a nominal value of € 983
thousand, this represented 0.1 per cent of share capital. As the share incentive programs expired in 2018, there is no further
obligation to allocate treasury shares under them. The total number of treasury shares was 698,767 shares at year-end 2025
(2024: 525,274 shares).
Retained earnings covered legal reserves of € 5,500 thousand (31/12/2024: € 5,500 thousand) and other free reserves of €
2,399,831 thousand (31/12/2024: € 2,395,234 thousand). Of the other free reserves, an amount of € 531,203 thousand (31/12/2024:
€ 526,606 thousand) was earmarked for the Raiffeisen IPS. As a result of the agreement on the establishment of the
institutional protection scheme and a corresponding decision of the Raiffeisen IPS Risk Council, a contribution of € 4,597
thousand (31 December 2024: € 24,557 thousand) was allocated to other reserves in 2025 as a reserve for the Raiffeisen IPS. The
reserve for the Federal IPS is not eligible for inclusion in the calculation of own funds under the CRR.
The liability reserve of € 535,097 thousand was unchanged at 31 December 2025 (31/12/2024: € 535,097 thousand).
Earnings performance
In the 2025 financial year, RBI AG reported a slight decrease in net interest income of 1.0 per cent, or € 3,379 thousand, to
€ 325,017 thousand. The interest rate environment during the reporting period was marked by a further decrease in the ECB’s
key interest rates to 2.15 per cent at the end of 2025 (31/12/2024: 3.15 per cent). The decline in net interest income at RBI AG is
attributable to lower income from balances with central banks and a cyclical decline in the business environment. The
decreases were largely offset by an increase in net interest income from the interbank and securities business.
Income from securities and participating interests decreased € 889,632 thousand, or 39.0 per cent, to € 1,388,616 thousand, due
to lower dividend income from affiliated companies. The income from participating interests in the 2025 financial year mainly
related, in the amount of € 1,200,000 thousand, to Raiffeisen RS Beteiligungs GmbH.
The net amount of fee and commission income and fee and commission expenses showed a decrease in the past financial
year of € 13,974 thousand, or 3.9 per cent, to € 344,754 thousand. Of this, € 3,539 thousand was attributable to a reduced
volume of transactions in clearing, settlement and payment services, partly due to a reduction in transactions with Russia.
There was also a decline in net fee and commission income from securities and custody business and from bond issues (€ 5,877
thousand), from foreign currency, notes/coins and precious metals business (€ 5,436 thousand) and from the service business
(€ 2,386 thousand), which includes M&A business as a major item. In contrast, net fee and commission income from lending
business increased by € 5,088 thousand compared to the previous year.
The net profit on financial operations was positive at € 19,365 thousand in the 2025 financial year, but was € 91,494 thousand,
or 82.5 per cent, below the previous year’s level (2024: € 110,859 thousand). € 59,069 thousand of this related to net trading
income from interest-based derivatives business, which however also includes interest rate hedging positions matching the
certificates business and equity and index-based transactions. Net income from currency-based derivative, foreign currency
and notes/coins business also decreased € 61,448 thousand, mainly due to a decline in net income from derivatives trading.
Fixed-income securities in the trading portfolio made a positive contribution to earnings in the amount of € 32,056 thousand,
but were a slight € 9,448 thousand below the previous year’s level. There was a year-on-year increase in net trading income
from issues and certificates and from equity and index-based transactions, which improved € 38,417 thousand due to a higher
issue volume and the positive market environment.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 609
Other operating income includes staff and administrative expenses passed on for services in the amount of € 172,549 thousand
(2024: € 144,199 thousand), income from releases of provisions for impending losses from derivatives in the amount of € 10,300
thousand (2024: € 26,174 thousand), income from close-out fees for derivatives on the banking book in an amount of € 30,228
thousand (2024: € 26,393 thousand), income from the release of other provisions in the amount of € 6,209 thousand (2024:
€ 7,653 thousand) and income from on-charging, or services to be on-charged, to network banks of RBI AG in connection with
the takeover in the first half of 2024 of the digitalization projects of RBI Retail Innovation GmbH in the amount of € 26,798
thousand (2024: 34,027 thousand).
Operating income therefore totaled € 2,366,354 thousand, corresponding to a decrease of € 1,010,282 thousand, or 29.9 per
cent, on the previous year’s figure of € 3,376,636 thousand.
Operating expenses were down € 436,626 thousand, or 23.5 per cent, relative to the 2024 financial year, to € 1,421,861 thousand.
Staff expenses remained largely constant with an increase of just € 450 thousand to € 534,556 thousand. An € 8,113 thousand
increase in expenses for wages and salaries due to inflation-related wage and salary increases and the larger headcount was
largely offset by lower allocations to and releases of social capital provisions.
Due to cost optimization initiatives, other administrative expenses decreased a significant € 54,724 thousand, or 12.7 per cent,
to € 429,908 thousand. This is primarily due to a decrease in legal, advisory and consulting expenses to € 90,529 thousand
(2024: € 118,012 thousand) and in IT expenses to € 194,000 thousand (2024: € 207,739 thousand). Over and above this, other
administrative expenses consisted of rent of € 35,930 thousand (2024: € 38,737 thousand), communication expenses of
€ 24,798 thousand (2024: € 25,669 thousand) and advertising, PR and marketing expenses of € 17,828 thousand (2024: € 19,473
thousand). Depreciation of tangible and intangible fixed assets showed a decrease of € 2,732 thousand to € 9,368 thousand in
the reporting period (2024: € 12,100 thousand).
Other operating expenses fell € 379,620 thousand, or 84.7 per cent compared to the previous year, to € 448,029 thousand. This
includes provisions for impending losses on banking book derivatives in the amount of € 13,627 thousand (2024: € 6,706
thousand), allocations of other provisions at the Poland branch (see also the Provisions item and under the heading Litigation
risk for foreign currency loans in Poland) in the amount of € 81,256 thousand (2024: € 545,111 thousand) and expenses of
€ 33,797 thousand (2024: € 39,108 thousand) from close-out fees for banking book derivatives. Also included are expenses for
staff and administrative expenses passed on for services in the amount of € 62,092 thousand (2024: € 37,231 thousand),
expenses from the takeover of digitalization projects of RBI Retail Innovation GmbH in the amount of € 28,852 thousand (2024:
€ 34,169 thousand) and expenses of € 215,779 thousand (2024: € 109,760 thousand) in connection with out-of-court settlements
concerning foreign currency loans at the Poland branch.
After deducting operating expenses from operating income, RBI AG generated an operating result of € 944,493 thousand for
the 2025 financial year. This represents a year-on-year decrease of € 573,656 thousand, or 37.8 per cent. As a consequence, the
cost/income ratio (operating expenses divided by operating income) was 60.09 per cent (2024: 55.04 per cent).
Net income/expenses from the disposal and valuation of loans and advances and securities classified as current assets
resulted in a net expense – as in the previous year – of € 185,583 thousand (2024: € 176,110 thousand). This was due, firstly, to
positive valuation results and proceeds from disposals in relation to current assets, including losses from contract adjustments,
and in relation to banking book derivatives, in a total amount of € 4,076 thousand (2024: minus € 7,458 thousand) and,
secondly, to a net loss from the valuation of loans and guarantees of minus € 189,659 thousand (2024: minus € 168,651
thousand).
With regard to individual loan loss provisions, RBI AG reported a net allocation to provisions of € 122,903 thousand. Compared
to the previous year, this represented a € 140,593 thousand decrease in allocations. This is due to lower default and loss rates
among large corporate customers, notably in the real estate and industrial finance segment. In portfolio-based loan loss
provisions, the reporting year – in contrast to 2024 – saw an increase in risk provisioning for non-defaulted loans and advances.
The result was a net allocation of portfolio-based loan loss provisions in the amount of € 67,996 thousand (2024: net release of
€ 84,993 thousand). This is mainly due to changes in management overlays and updating of the risk assessment (in particular
due to rating changes). In the previous year, there were also a number of defaults and resulting transfers to Stage 3. Material
and non-material contractual amendments generated book losses of € 9,643 thousand in the financial year (2024: book losses
of € 9,445 thousand). The net loss from exceptional disposals of loan receivables amounted to minus € 858 thousand in the
financial year (2024: minus € 545 thousand). As in the previous year, shares in investment funds did not realize significant
income or losses in the financial year.
Net income/expenses from the disposal and valuation of securities valued as financial investments and of shares in affiliated
companies and equity participations included write-ups totaling € 258,335 thousand in the financial year, including € 210,281
thousand at RZB-BLS Holding GmbH, € 31,801 thousand at Raiffeisenbank JSC (AVAL) and € 5,073 thousand at Posojilnica Bank
eGen. Shares in affiliated companies and equity participations were written down by a total of € 52,963 thousand in the
financial year, including € 37,991 thousand at Raiffeisen Bausparkasse Gesellschaft m.b.H. and € 4,142 thousand at LOTA
Handels- und Beteiligungs-GmbH.
Disposals of shares in affiliated companies and equity participations resulted in a positive contribution to earnings in the
amount of € 2,097 thousand in the financial year (2024: € 2,008 thousand). In total, € 207,469 thousand in gains (2024:
€ 1,184,950 thousand in losses) were reported on the valuation and disposal of shares in affiliated companies and equity
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
610 Management report
participations. In the 2025 financial year, income of € 492 thousand (2024: expenses of € 2,612 thousand) accrued from the sale
and valuation of securities held as financial assets.
As a result, the profit on ordinary activities for the year under review amounted to € 966,871 thousand (2024: € 154,478
thousand).
The return on equity before tax (profit before tax divided by average equity in the financial year, including AT1 instruments)
was 9.2 per cent in the financial year (2024: 1.6 per cent).
The net reorganization gain of € 164,185 thousand shown for the 2024 financial year relates to a project implemented in the
financial year to simplify the holding structure for various Austrian subsidiaries. In detail, it corresponds to the difference
between the written-down carrying amount of the investment in RBI Beteiligungs GmbH and the net assets acquired.
The income tax item shows net income of € 19,936 thousand for the 2025 financial year (2024: € 12,354 thousand). This includes
income from current income taxes of € 23,821 thousand (2024: € 18,817 thousand), deferred tax expense of € 8 thousand (2024:
tax income of € 300 thousand) and tax expense for previous years of € 11 thousand (2024: € 3,445 thousand). Also included is
foreign withholding tax in the amount of € 3,867 thousand (2024: € 3,320 thousand).
Other taxes mainly include the Austrian stability levy, including the special payment for 2025, totaling € 77,538 thousand (2024:
€ 24,427 thousand).
The return on equity after tax (net income after tax divided by average equity in the financial year, including AT1 instruments)
was 8.7 per cent (2024: 3.1 per cent).
The profit after tax in 2025 was thus € 909,493 thousand (2024: € 307,908 thousand).
After movements in reserves of minus € 4,597 thousand and profit of € 343,654 thousand brought forward from the previous
year, net profit was € 1,248,550 thousand (2024: € 704,335 thousand).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 611
· Capital, share, voting and
control rights
The following disclosures satisfy the provisions of § 243a (1) of the Austrian Commercial Code (UGB):
(1) As at 31 December 2025, the company’s share capital amounted to € 1,003,265,844.05 and was divided into 328,939,621
voting common bearer shares. As at 31 December 2025, 698,767 (31 December 2024: 525,274) of those were own shares, and
consequently 328,240,854 shares were outstanding at the reporting date.
(2) The Articles of Association contain no restrictions concerning voting rights or the transfer of shares. The regional Raiffeisen
banks and direct and indirect subsidiaries of the regional Raiffeisen banks are parties to a syndicate contract (syndicate
agreement) regarding RBI AG. The terms of this syndicate agreement include not only a block voting agreement and
preemption rights, but also a prohibition on sales of the RBI shares held by the regional Raiffeisen banks (with few exceptions) ,
if the sale would reduce the regional Raiffeisen banks’ aggregate shareholding in RBI AG (direct and/or indirect) to less than 40
per cent of the share capital plus one share.
(3) Raiffeisenlandesbank Niederösterreich-Wien AG holds directly and indirectly total around 25.00 per cent of the share capital
of the company. By virtue of the syndicate agreement regarding RBI AG, the regional Raiffeisen banks and their direct and
indirect subsidiaries as parties acting in concert as defined in § 1 (6) of the Austrian Takeover Act (ÜbG). The regional Raiffeisen
banks hold a total of around 61.17 per cent of the voting rights. The remaining shares of RBI AG are held in free float, with no
other direct or indirect shareholdings amounting to 10 per cent or more known to the Management Board.
(4) The Articles of Association do not contain any special rights of control associated with holding shares. According to the
syndicate agreement for RBI AG, the regional Raiffeisen banks can nominate nine members of the RBI AG Supervisory Board. In
addition to the members nominated by the regional Raiffeisen banks, the RBI AG Supervisory Board should also include three
independent representatives of free-float shareholders who are not attributable to the Austrian Raiffeisen Banking Group.
(5) There is no control of voting rights arising from interests held by employees in the share capital.
(6) Pursuant to the Articles of Association, a person who is aged 68 years or older may not be appointed as a member of the
Management Board or be reappointed for another term in office. The rule for the Supervisory Board is that a person who is
aged 75 years or older may not be elected as a member of the Supervisory Board or be re-elected for another term in office.
Moreover, no person who already holds eight supervisory board mandates in publicly traded companies may be a member of
the Supervisory Board. Holding a position as chairman of the supervisory board of a publicly traded company would count
twice for this purpose. The Annual General Meeting may choose to waive this restriction through a simple majority of votes if
permitted by law. Any candidate who has more mandates for, or chairman positions on, supervisory boards in publicly traded
companies must disclose this to the Annual General Meeting. There are no further regulations regarding the appointment or
dismissal of members of the Management Board and the Supervisory Board beyond the provisions of the relevant laws. The
Articles of Association stipulate that the resolutions of the Annual General Meeting are, provided that there are no mandatory
statutory provisions to the contrary, adopted by a simple majority of the votes cast. Where the law requires a capital majority
in addition to the voting majority, resolutions are adopted by a simple majority of the share capital represented in the votes. As
a result of this provision, members of the Supervisory Board may be dis-missed prematurely by a simple majority. The
Supervisory Board is authorized to adopt amendments to the Articles of Association that only affect the respective wording.
This right may be delegated to committees. Furthermore, there are no regulations regarding amendments to the company
Articles of Association beyond the provisions of the relevant laws.
(7) Pursuant to § 169 of the Austrian Stock Corporation Act (AktG), the Management Board has been authorized since the
Annual General Meeting of 4 April 2024 to increase the share capital with the approval of the Supervisory Board – in one or
more tranches – by up to € 501,632,920.50 through the issuance of up to 164,469,810 new voting common bearer shares in
exchange for contributions in cash and/or in kind (including by way of the right of indirect subscription by a bank pursuant to §
153 (6) of the AktG) by 16 May 2029 at the latest and to fix the offering price and terms of the issue with the approval of the
Supervisory Board. The Management Board is further authorized to exclude shareholders’ subscription rights with the approval
of the Supervisory Board (i) if the capital increase is carried out in exchange for contributions in kind, or (ii) if the capital
increase is carried out in exchange for contributions in cash and the shares issued under the exclusion of subscription rights do
not exceed 10 per cent of the company’s share capital (exclusion of subscription rights). The (i) utilization of authorized capital
with exclusion of the statutory subscription right in the event of a capital increase in return for a contribution in cash, and the
(ii) implementation of the conditional capital resolved upon in the Annual General Meeting on 26 March 2025 in order to grant
conversion or subscription rights to convertible bond creditors may not exceed 10 per cent in total of the share capital of the
company. The utilization of the authorized capital in the form of a capital increase in return for a contribution in kind is not
covered by this restriction.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
612 Management report
Since then, this authorization from April 2024 has not been utilized.
The share capital is conditionally increased (conditional capital) pursuant to § 159 (2) 1 of the AktG by up to € 100,326,584 by
issuing of up to 32,893,962 ordinary bearer shares. The conditional capital increase will only be implemented to the extent that
use is made of an irrevocable right of conversion into or subscription to shares which the company grants to the creditors
holding convertible bonds issued on the basis of the resolution passed at the Annual General Meeting on 26 March 2025 within
five years from the date of the resolution, thus by March 25, 2030, or in the event of having to fulfil a conversion obligation set
out in the convertible bonds’ terms of issuance. In both cases, the Management Board does not decide to allocate own shares.
The issue price and the conversion ratio are to be calculated in accordance with recognized quantitative financial
methodologies and the price of the company’s shares in a recognized pricing procedure (calculation basis of the issuance
price); the issue price may not be below the proportionate amount of the share capital. The newly issued shares from the
conditional capital increase are entitled to a dividend equivalent to those of the existing shares. The Management Board was
authorized, to determine the further details of the share issuance based on the terms and conditions of the convertible bonds..
The Management Board was further authorized pursuant to § 174 (2) of the AktG by the Annual General Meeting on 26 March
2025, within 5 years from the date of the resolution, i.e. until 25 March 2030, with the consent of the Supervisory Board, to issue
also in several emissions, convertible bonds with rights to convert into or subscribe to shares of the company or convertible
bonds with conversion obligations (contingent convertible bonds pursuant to § 26 of the Banking Act), including convertible
bonds that meet the requirements for Additional Tier 1 capital instruments pursuant to Regulation (EU) No. 575/2013 of the
European Parliament and the Council of 26 June 2013 on supervisory requirements for credit institutions and investment firms,
as amended, with full exclusion of shareholders’ subscription rights. The authorization includes the issuance of convertible
bonds in a total nominal amount of up to € 1,000,000,000 with rights to convert into or subscribe to up to 32,893,962 ordinary
bearer shares of the company with a proportionate amount of the share capital up to € 100,326,584. The issue price and the
conversion ratio are to be calculated in accordance with recognized quantitative financial methodologies and the price of the
company shares in a recognized pricing procedure (calculation basis of the issuance price); the issue price of the convertible
bonds may not be below the proportionate amount of the share capital. In this respect, the Management Board is authorized
to determine all further issuance and structural features as well as the issuance terms and conditions of the convertible bonds,
in particular the interest rate, issue price, term of validity and denomination, provisions protecting against dilution, conversion
period, conversion rights and obligations, conversion ratio and conversion price. The convertible bonds may also be issued –
observing the limit of the corresponding equivalent value in euros – in the currency of the United States of America and in the
currency of any other Organization for Economic Cooperation and Development (OECD) member state.
This authorization supersedes the authorization resolved by the General Meeting on 20 October 2020 pursuant to section 174
(2) of the Austrian Stock Corporation Act (AktG) for the issuance of convertible bonds, which was revoked with effect from 26
March 2025. No convertible bonds have been issued either on the basis of the revoked authorization of October 2020 or under
the currently valid authorization of March 2025
(8) The following material agreements exist, to which the company is a party, and which take effect, change, or come to an
end upon a change of control in the company as a result of a takeover bid:
· RBI AG is insured under a group-wide D&O policy. In the event of a merger with another legal entity, the insurance
policy would automatically cease at the end of the insurance period in which the merger took effect. In such cases,
insurance cover only exists for claims for damages arising from breaches of obligations that occurred before the
merger, which are reported to the insurer prior to the termination of RBI AG’s group-wide D&O insurance cover.
· RBI AG is a member of the Professional Association of Raiffeisen Banks. Upon a change in control of RBI AG which
results in the attainment of control by shareholders outside of the Raiffeisen Banking Group Austria, membership of
the Professional Association of Raiffeisen Banks, as well as that of the Raiffeisen-IPS pursuant to Art. 113 (7) of the
CRR, the Österreichische Raiffeisen-Sicherungseinrichtung eGen and of the Raiffeisen Customer Guarantee Scheme
Austria may be terminated. RBI AG also serves as the central institution of the Raiffeisen Banking Group at a national
level. Upon a change in control of RBI AG, related contracts (central institution of the liquidity group pursuant to § 27a
of the BWG may end or change.
· The company’s refinancing agreements and agreements concerning third-party financing for subsidiaries, which are
guaranteed by the company, stipulate in some cases that the lenders can demand early repayment of the financing
in the event of a change in control.
(9) There are no indemnification agreements between the company and its Management Board and Supervisory Board
members or employees that would take effect in the event of a public takeover bid.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 613
· Non-financial Performance
Indicators
RBI AG is exempt from the obligation to prepare a non-financial statement pursuant to Section 243b (7) UGB. The sustainability
issues of RBI AG are presented in the consolidated non-financial statement in the Group management report of RBI. The Group
management report with detailed information on developments in sustainability management is available in the Vienna
Commercial Register and on the website at www.rbinternational.com
· Intangible resources
In a very dynamic business environment, intangible resources are becoming increasingly important and represent a key driver
for sustainable business and key value drivers for companies. These intangible value drivers can only be inadequately
represented in standard financial reporting. There are a large number of intangible resources such as product and technology
innovations, brands, customer satisfaction, employee qualifications and motivation.
RBI AG sees its main intangible resources primarily in the human resources and innovation areas.
For further information on RB AG's intangible resources, please refer to the following chapters in the group management
report:
· Research and development
· Human resources
Research and Development
Digitalization
In 2025, RBI's retail digitalization strategy continued to focus on enhancing customer experiences and promoting sustainable
growth via digital channels. Mobile banking remains a pivotal aspect of this strategy, with 70 per cent of customers actively
using these services.
Customer acquisition via digital channels is a priority 63 per cent of new retail customers were initiated digitally in 2025, up
from 48 per cent in 2024.
RBI expanded its digital offerings, with 70 per cent of personal cash loans now being facilitated through digital platforms and
38 per cent being end-to-end digital.
Innovative solutions, such as end-to-end mobile account opening for SMEs and integration of conversational AI assistants in
apps aims to position RBI as a leader in digital banking. These solutions increased the lifetime contribution value from digital
sales in total Retail sales from 44 per cent in 2024 to above 56 per cent in 2025.
In Corporate and Investment Banking, the myRaiffeisen digital platform had 12.000 registered users at the end of 2025.
Digitized key products (e. g. KYC, accounts, lending) resulted in a digital service penetration ratio of approx. 45 per cent.
Future priorities will focus on improving digital onboarding, providing group-wide cash management solutions and broadening
the API offering beyond traditional payment integrations.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
614 Management report
Innovation areas
In line with its commitment to innovation, RBI offered group-wide educational programs and events to its employees in 2025.
Its central innovation team additionally continued exploring new business models, with a specific focus on small and mid-sized
enterprises.
In 2025, RBI also continued to integrate artificial intelligence (AI) into business through three pillars: group AI governance, use
case evaluation and implementation, and change management and employee development. All employees have access to AI-
powered tools, and are supported by a network of internal change agents known as the AI pioneers.
RBI’s innovation research continued to focus on blockchain technology in 2025. An internal strategy for crypto and digital assets
was adopted, outlining future plans for new business models and infrastructure development.
In September 2025 RBI announced its participation as a founding member of a cross-European stablecoin consortium together
with eight other banks. The consortium plans to launch an MiCAR (Markets in Crypto-Assets Regulation)-compliant euro-
denominated stablecoin and aims to become a trusted European payment standard in the digital ecosystem. The stablecoin
consortium has formed a new company in the Netherlands, which expects to start issuing stablecoins in the second half of
2026. Individual banks will be able to provide value added services and build products based on stablecoins, such as a
stablecoin wallet.
IT
The digitalization measures approved by the Management Board in the areas of cloud migration, technological leadership, and
data centricity continued to be pursued in 2025. According to AWS benchmarking within the peer group of banks, RBI is among
the leaders in cloud technology both in Europe and globally. More than 55 per cent of all IT applications run in the cloud,
compared to 13 per cent in 2021. In the data domain, RBI established powerful group-wide platforms to ensure data scaling to
create value for its customers, for internal steering purposes and to meet regulatory requirements. All data platforms operate
on cloud environments to optimize costs and increase flexibility, thereby positioning RBI effectively to meet evolving artificial
intelligence demands. Additionally, RBI has launched a comprehensive internal AI transformation to ensure responsible
adoption across the organization. In recognition of these efforts, RBI was named the regional winner for Western Europe in the
category Best Corporate/Institutional Bank for AI in Finance) in the Finance Awards 2025.
Human Resources
The Group People, Culture & Organization (PC&O) division combines the areas of Human Resources (HR) and Organizational
Development and Change Management. Combining these areas into a single division enables the Group to forge an integrated
approach to staff leadership, culture and organizational development. In this respect, the PC&O division makes a significant
contribution to the implementation of the RBI strategy and corporate objectives. A particular focus is placed on the efficient
and seamless execution of personnel processes, encompassing tasks such as data administration, contract preparation or
recruitment. In addition, the division is responsible for personnel development, career management, leadership development as
well as professional education and training. In the area of organizational development, PC&O extends support for all
restructurings and transformations within the Group, not least through change management and organizational design.
In 2025, RBI AG was honored multiple times as an employer of choice; these awards included Kununu Top Company 2025, Trend
& Statista: Best Place to Work and Leading Employers Top 1 per cent Austria 2025. To maintain this position in future too, it is
important for the company to be aware of the expectations and demands of employees and potential applicants, and to
position itself accordingly. Current labor market trends show that employees have a considerable need for job security, while
at the same time placing great value on flexibility, work-life balance and mental wellbeing. People, and therefore also the
employees, are greatly concerned about factors such as inflation which results in a high need for security and stability. .
Innovations such as artificial intelligence (AI) are met with great curiosity on the one hand and with caution on the other. The
rapid developments in the area of generative AI offers many opportunities for RBI. AI holds the potential to revolutionize the
way people work and enhance efficiency. RBI’s employees are therefore encouraged to explore the technology and consider
how it could be used. Besides the possibility for using a version of ChatGPT tailored specifically to RBI, an AI platform available
in the intranet provides information about current developments and learning opportunities. In addition, new, AI-based
systems were introduced to make HR processes simpler, more efficient and more effective. This represents another step in
RBI’s technology and automation strategy.
The employer value proposition (EVP) is the essence of a brand from the employer perspective and comprises offers,
advantages, incentives and the working environment a company provides to its employees. In its Glocal EVP approach, RBI
combines the EVP of the entire Group with the local EVPs of the subsidiary banks. This creates an international employer brand
that guarantees consistency but takes special local features into account at the same time.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 615
Promoting an attractive and high-performing work culture is decisive for corporate success. Employee surveys offer a
representative overview of the experiences within the company as a whole, and serves as input for discussions and targeted
initiatives aimed at further increasing employees’ commitment. Following the implementation of a new group-wide survey tool,
another survey of the employees at head office was conducted in September.
Against the backdrop of the strong international structure, there was an increase in employees’ desire to also work in other
countries. Since July 2023, RBI AG is the first bank in Austria to allow its employees to work at locations in other EU countries for
a certain period of time. The offer has been well received across all hierarchical levels.
As learning and continuous development contribute significantly to career satisfaction, learning as a matter of course in
everyday work in order to keep pace with technological developments. The focus is on:
· Promoting a culture of learning, thereby repositioning learning as a priority within the company culture
· Developing a competency in and a flexible approach to leaning
· Achieving a higher level of automation and simplification through the use of new technologies
· Producing a portfolio of relevant learning content
· Devising uniform standards and quality criteria for learning formats and content (in terms of their approach to
didactics, learning psychology and technology)
The retention of employees is influenced by various factors, including the quality of work relationships, the level of job and
career satisfaction, and personal performance. To enhance retention, teams receive development support through a series of
workshops, with a special focus on fostering mutual trust, open communication, and effective collaboration methods.
Managers receive support to optimize their role and guide their teams through periods of uncertainty and change, while giving
due consideration to the individual needs and expectations of their team members. The training concentrated on bolstering
individual resilience, fostering a common understanding of managerial expectations, and incorporating peer coaching and
communication techniques.
An internal team specializing in change management and change communication provides optimal support for a wide array of
transformations, ranging from minor reorganizations to significant overhauls. The goal is to properly equip managers and
employees for the transformation process, guide them through the process, garner their commitment to the change, and
provide support to individuals and teams throughout the change journey.
Artificial Intelligence (AI) holds the potential to revolutionize the way people work and enhance overall efficiency. Employees
are encouraged to explore AI and consider how it could be used at RBI. Diverse learning formats, including eLearning, are
offered to deepen employees’ comprehension of AI and machine learning and discover the possibilities of this new technology
while gaining insights into its limitations and potential challenges. With the AI Pioneers Program, there are around 200
employees at head office and around 1,700 across the group who are acquiring knowledge about AI and passing it on to their
colleagues, thereby bringing efficiency to their teams.
· Corporate Governance
Further information can be found in the corporate governance report chapter of the annual report, as well as on the RBI
website (www.rbinternational.com → Investors → Corporate Governance & Remuneration).
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
616 Management report
· Risk report
Active risk management is a core competency of RBI AG. In order to effectively identify, measure, and manage risks the bank
continues to develop its comprehensive risk management system. The management of ESG risks (environmental, social,
corporate governance) is implemented in a cross-departmental project and covers all risk areas. Risk management is an
integral part of overall bank management. In particular, in addition to legal and regulatory requirements, it takes into account
the nature, scale, and complexity of the business activities and the resulting risks. The risk report describes the principles and
organization of risk management and describes current risk exposure in all material risk categories.
Risk management principles
RBI AG has a system of risk principles and procedures in place for measuring and monitoring risk, which is aimed at controlling
and managing the bank’s risks. The risk policies and risk management principles are laid out by the Management Board of RBI
AG. These are regularly reported and discussed in the Supervisory Board committees. The fundamental risk policy principles
include:
· Risk awareness
A risk culture is promoted which consciously deals with the risks inherent in the banking business, in particular
through the transparent presentation of information and the use of suitable methods.
· Risk appetite
Risk-taking is cautious and requires a pre-defined minimum return on the risk.
· Risk management
State-of-the-art risk management and risk controlling technologies are implemented which correspond to the
materiality of the risks; risk data and risk report technologies are also effectively combined.
· Regulatory requirements
All provisions and requirements of the supervisory authorities relating to risk management are taken into account
and complied with.
· Integrated risk management
Credit, country, market, liquidity, participation and operational risks are managed as key risks on a bank-wide basis.
For this purpose, these risks are measured, limited, aggregated, and compared to available risk coverage capital.
· Standardized methodologies
Risk measurement and risk limitation methods are standardized in order to ensure a consistent and coherent
approach to risk management. This forms the basis for consistent overall bank management across all countries
and business lines in RBI Group.
· Continuous planning
Risk strategies and risk capital are reviewed and approved in the course of the annual budgeting and planning
process, whereby special attention is paid to preventing risk concentrations.
· Independent control
A clear personnel and organizational separation is maintained between business operations and all risk
management or risk controlling activities.
· Ex ante and ex post control
Risks are consistently measured within the scope of product selling and in risk-adjusted performance measurement.
Thereby it is ensured that business in general is conducted only under risk-return considerations and that there are
no incentives for taking high risks.
· New business areas
New products and market launches are subject to a prior, specific risk analysis and risk assessment and are decided
on by the relevant committees and bodies.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 617
Organization of risk management
The Management Board of RBI AG ensures the proper organization and ongoing development of risk management. It decides
which methods are to be employed for identifying, measuring, and monitoring risks, and makes steering decisions according to
the risk reports and analyses. The Management Board is supported in undertaking these tasks by independent risk
management units and special committees.
RBI AG’s risk management functions are performed on different levels. RBI AG develops and implements the relevant concepts
as the parent credit institution and in cooperation with the subsidiaries of the Group. The central risk management units are
responsible for the adequate and appropriate implementation of the risk management processes throughout the company. In
addition, they implement the risk policy in the respective risk categories and manage RBI AG’s activities within the approved
risk budget. The implementation and management of ESG risks (environmental, social, corporate governance) is implemented
and covers all risk areas.
The central and independent risk controlling function under the Austrian Banking Act is performed by the Group Risk Controlling
organizational area. Its responsibilities include developing the company-wide framework for overall bank risk management
(integrating all risk types) and preparing independent reports on the risk profile for the Supervisory Board’s Risk Committee, the
Management Board and the heads of individual business units.
Risk committees
The Group Risk Committee is the most senior decision-making body for all of the Group’s risk-related topic areas. It decides
on the risk management methods and on the control concepts used for the overall Group and for key subdivisions, and is
responsible for ongoing development and implementation of methods and parameters for risk quantification and for refining
steering instruments. This also includes setting the risk appetite and the various risk budgets and limits at overall bank level as
well as monitoring the current risk situation with respect to internal capital adequacy and the corresponding risk limits. It
approves risk management and controlling activities (such as the allocation of risk capital) and advises the Management Board
on these matters. The Group Risk Committee’s scope of responsibility also includes resolution-related topics and decisions
reflecting the respective guidelines & requirements of the Single Resolution Board (SRB).
The Group Asset/Liability Committee assesses and manages the statement of financial position structure and liquidity risks
and defines the standards for internal funds transfer pricing. It plays an important role in planning long-term funding and the
hedging of structural interest rate and foreign exchange risks. The Group Capital Management Committee and the Structural
FX Committee are sub-committees of the Group Asset/Liability Committee and analyze, control and manage the regulatory
capital ratios as well as the structural currency and interest rate risk of the capital position.
The Market Risk Committee controls market risks arising from trading and banking book transactions and establishes
corresponding limits and processes. In particular, it relies on profit and loss reports, the risks calculated and the limit utilization,
as well as the results of scenario analyses and stress tests with respect to market risks.
The Credit Committees are staffed by front office and back office representatives, with the staff assignments depending on
the type of customer (corporate customers, banks and sovereigns). The committees decide upon the specific lending criteria
for the different customer segments and countries and make all credit decisions concerning those segments and countries in
connection with the credit approval process (depending on rating and exposure size).
The Problem Loan Committee is the most important committee in the evaluation and decision-making process concerning
problem loans. It primarily comprises decision-making authorities; its chairman is the Chief Risk Officer (CRO) of RBI AG. Further
members with voting rights are those members of the Management Board responsible for the customer divisions, the Chief
Financial Officer (CFO), and the relevant division and department managers from risk management and special exposures
management.
The Securitization Committee is the decision-making committee for limit requests in relation to securitization positions
within the specific decision-making authority framework. It develops proposals for modifications to the securitization strategy
for the Management Board. In addition, the Securitization Committee offers a platform for exchanging information regarding
securitization positions and market developments.
The Group Operational Risk Management & Controls Committee comprises representatives of the business areas (retail,
market and corporate customers) and representatives from Compliance (including financial crime, regulatory compliance),
Internal Control System, Operations, Security, IT Risk Management and Risk Controlling, under chairmanship of the CRO. This
committee is responsible for managing operational risk (including conduct risk). It derives and sets the operational risk strategy
based on the risk profile and the business strategy and also makes decisions regarding measures, controls and risk
acceptance.
The Group Security Committee is responsible for the implementation of and compliance with the Security Policy and the IT
Risk Management Policy within the Group. This includes, inter alia, approving the Security Policy and the IT Risk Management
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
618 Management report
Policy, defining key performance indicators and key risk indicators, which must be reported on at Group level and in the local
security committees, and defining and checking the risk appetite in relation to IT risk and security.
The Data Governance Committee is the Group’s senior decision-making body for all subject areas relating to data
governance. This also includes in particular topics relating to data quality as well as to compliance with the BCBS 239 principles.
The Artificial Intelligence Committee is the cross-functional, senior steering committee for the RBI Group regarding Artificial
Intelligence (AI) topics. These include strategic and regulatory oversight, performance monitoring, change management,
education & learning, transparent communication, stakeholder engagement, advisory of the Management Board and reporting,
as well as being the escalation authority for AI related topics.
The Contingency/Recovery/Resolution Committee is a decision-making body convened by the Management Board. The
composition of the committee varies as circumstances require depending on the intensity and focus of the specific
requirements pertaining to the situation (e.g. capital and/or liquidity). The core task of the committee is to maintain or recover
financial stability in accordance with the Federal Act on the Recovery and Resolution of Banks (BaSAG) and the Banking
Recovery and Resolution Directive (BRRD) in the event of a critical financial situation.
Quality assurance and internal audit
Quality assurance with respect to risk management refers to ensuring the integrity, soundness, and accuracy of processes,
models, calculations, and data sources. This is to ensure that RBI AG adheres to all legal requirements and that it can achieve
the highest standards in risk management operations. Two very important functions in assuring independent oversight are
performed by the divisions Audit and Compliance. Independent internal auditing is a legal requirement and a central pillar of
the internal control system. Internal Audit periodically assesses all business processes and contributes considerably to securing
and improving them. It sends its reports directly to the Management Board of RBI AG, which discusses them on a regular basis
in its board meetings. The Compliance Office is responsible for all issues concerning compliance with legal requirements in
addition to and as an integral part of the internal control system. Thereby compliance with existing regulations in daily
operations is monitored. Moreover, an independent and objective audit, free of potential conflicts of interest, is carried out
during the audit of the annual financial statements by the independent auditors.
Overall bank risk management
Maintaining an adequate level of capital is a core objective of the Company’s risk management. Capital requirements are
monitored regularly based on the risk level measured by internal models, and in choosing appropriate models the materiality of
risks annually assessed is taken into account. This concept of overall bank risk management provides for meeting capital
requirements from both a regulatory perspective (normative perspective) and from an economic point of view (economic
perspective). Thus it covers the quantitative aspects of the internal capital adequacy assessment process (ICAAP) as legally
required and as described in the ICAAP Directive published by the European Central Bank. RBI AG’s overall ICAAP process is
audited during the supervisory review process for the RBI credit institution group (RBI Kreditinstitutsgruppe) on an annual basis.
The Risk Appetite Framework (RAF) limits the Group’s overall risk in line with the strategic business objectives and allocates the
risk capital calculated to the different risk categories and business areas. The primary aim of the RAF is to limit risk, particularly
in adverse scenarios and for major singular risks, in such a way as to guarantee compliance with regulatory minimum ratios.
The Risk Appetite Framework is therefore closely linked with the ICAAP and the ILAAP (Internal Liquidity Adequacy Assessment
Process) and sets concentration limits for the risk types identified as significant in the risk assessment. There is also a
connection to the recovery plan as the risk capacity and risk tolerance limits in the RAF are aligned with the corresponding
thresholds in the recovery plan. In addition, the risk appetite decided by the Management Board and the Group’s risk strategy
and its implementation are reported regularly to the Supervisory Board’s Risk Committee.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 619

Approach | Risk | Measurement technique | Confidence level
Economic perspective |  |  |
Economic capital | Risk that unexpected losses from the economic point of view exceed the internal capital | The unexpected loss for the risk horizon of one year (economic capital) may not exceed the current value of the tier 1 capital. | 99.90 per cent
Normative perspective |  |  |
Stress scenarios | Risk of falling below a sustainable tier 1 ratio throughout an economic cycle | Capital and earnings projection for a three-year planning period based on assumptions of a significant downturn in the economy | Around 95 per cent, based on potential management decisions to reduce risk temporarily or raise additional equity capital

Economic perspective – economic capital approach
In this approach, risks are measured on the basis of economic capital, which represents a comparable risk indicator across all
material risk types. Economic capital is calculated as the sum of unexpected losses stemming from different risk categories. In
addition, a general buffer is held to cover risk types not explicitly quantified.
The following table shows the risk distribution of individual risk types to economic capital:

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
Participation risk | 4,776,313 | 77.2% | 4,673,816 | 73.8%
Credit risk corporate customers | 389,599 | 6.3% | 479,599 | 7.6%
Credit risk sovereigns | 162,828 | 2.6% | 342,875 | 5.4%
Market risk | 283,517 | 4.6% | 193,679 | 3.1%
Operational risk | 76,893 | 1.2% | 147,278 | 2.3%
Other assets | 77,181 | 1.2% | 90,753 | 1.4%
Credit risk banks | 48,537 | 0.8% | 66,328 | 1.0%
Credit risk retail customers | 51,667 | 0.8% | 23,790 | 0.4%
CVA risk | 22,195 | 0.4% | 14,770 | 0.2%
Risk buffer | 294,437 | 4.8% | 301,645 | 4.8%
Total | 6,183,167 | 100.0% | 6,334,535 | 100.0%

The economic capital decreased year-on-year to € 6,183,167 thousand. For RBI AG, the participation risk is the most material
risk type in terms of amount, which also contributed significantly to the year-on-year decline. The strongest decreases were
recorded in credit risk for corporate customers and for sovereigns, while market risk decreased.
RBI AG uses a confidence level of 99.90 per cent to calculate economic capital.
Economic capital is an important instrument in overall bank risk management and is used in allocating risk budgets. Economic
capital limits are allocated to individual business areas during the annual budgeting process and are supplemented in day-to-
day management by volume, sensitivity, and value-at-risk limits. At RBI AG, this is planned on a revolving basis for the
upcoming three years and incorporates the future development of economic capital as well as available internal capital.
Economic capital thus substantially influences plans for future lending activities and the overall limit for taking market risk.
Risk-adjusted performance measurement is also based on the indicator for economic capital. The profitability of a business
unit is examined in relation to the amount of economic capital attributed to the unit in question (risk-adjusted profit in relation
to risk-adjusted capital, RORAC), which yields a comparable performance indicator for all business units in the bank. That
indicator is used in turn as a key figure in overall bank management and for future capital allocations to business units, and
influences the remuneration paid to the Bank’s executive management.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
620 Management report
Normative perspective – stress scenarios
The analysis of the stress scenarios in the normative perspective of the ICAAP is intended to ensure that RBI AG has sufficiently
high capital ratios in a multi-year planning period, even in a severe macroeconomic downturn scenario. The analysis is based
on a multi-year macroeconomic stress test where hypothetical market developments in a severe but realistic economic
downturn scenario are simulated. The risk parameters considered include interest rates, foreign exchange rates and securities
prices, as well as changes in default probabilities and rating migrations in the credit portfolio as well as losses from
operational risks.
The integrated stress test focuses primarily on the capital ratios at the end of the multi-year observation period. These should
not fall below a sustainable level, meaning that they should not require the bank to substantially increase capital or to
significantly reduce its business activities. The current minimum amount of capital is therefore determined by the size of a
potential economic downturn. The stress scenarios assumed incorporates recognition of the necessary loan loss provisions and
potential pro-cyclical effects (which increase the minimum regulatory capital requirement) along with the impact of foreign
exchange rate fluctuations and other valuation and earnings effects. Regulatory changes already known are taken into
account for the planning period.
This perspective thus also complements traditional risk measurement methods based on the value-at-risk concept (which is in
general based on historical data). Therefore, it can account for exceptional market situations that have not been observed in
the past, and also permits estimation of the potential impact of such developments. The stress test also allows for analyzing
risk concentrations (e.g. individual positions, industries, or geographical regions) and gives insight into profitability, liquidity
situation, and solvency under extreme situations. Building on these analyses, RBI AG’s risk management actively contributes to
portfolio diversification, for example via limits for the total exposure to individual industry segments and countries and through
ongoing updates to lending standards.
Credit risk
RBI AG’s credit risk stems mainly from default risks that arise from business with retail and corporate customers, other banks
and sovereign borrowers. It is by far the most important risk category for RBI AG, which is also indicated by internal and
regulatory capital requirements. Credit risk is therefore analyzed and monitored both on an individual loan and customer basis
as well as on a portfolio basis. Credit risk management and lending decisions are based on the respective credit risk policies,
credit risk manuals, and the tools and processes which have been developed for this purpose. The internal control system for
credit risks includes different types of monitoring measures, which are tightly integrated into the workflows to be monitored –
from the customer’s initial credit application, to the bank’s credit approval, and finally to the repayment of the loan.
No lending transaction is performed in the non-retail segments before the limit application process has been completed. This
process applies not only to new lending, but also to increases in existing limits, roll-overs, overdrafts, and to cases in which the
borrower’s risk profile is no longer the same as the profile that formed the basis for the original lending decision (e.g. with
respect to the financial situation of the borrower, purpose or collateral). It also applies to the setting of counterparty limits in
trading and new issuance operations, other credit limits, and to participations.
Credit decisions are made within the context of a competence authority hierarchy based on the size and type of the loan.
Approval from the business and the credit risk management divisions is always required when making individual limit decisions
or performing regular rating renewals. If the individual decision-making parties disagree, the potential transaction is decided
upon by the next higher-ranking credit authority.
Credit exposure by asset classes (rating models):

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
Corporate customers | 42,532,140 | 46.8% | 42,753,549 | 46.2%
Project finance | 3,649,628 | 4.0% | 2,970,052 | 3.2%
Retail customers | 3,983,840 | 4.4% | 3,025,698 | 3.3%
Banks | 22,039,074 | 24.2% | 24,064,062 | 26.0%
Sovereigns | 18,765,905 | 20.6% | 19,786,454 | 21.4%
Total | 90,970,586 | 100.0% | 92,599,814 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 621
Credit portfolio – Corporate customers
The internal rating models for corporate customers take into account qualitative parameters, various ratios from the
statement of financial position, and profit ratios covering different aspects of customer creditworthiness for various industries
and countries. In addition, the model for smaller corporates also includes an account behavior component.
The following table shows the total credit exposure according to internal corporate ratings (large corporates, mid-market and
small corporates). For presentation purposes, the individual grades of the rating scale have been combined into nine main
rating grades.

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
1 | Minimal risk | 2,213,837 | 5.2% | 1,396,903 | 3.3%
2 | Excellent credit standing | 5,007,629 | 11.8% | 6,083,777 | 14.2%
3 | Very good credit standing | 12,416,557 | 29.2% | 13,129,807 | 30.7%
4 | Good credit standing | 12,459,128 | 29.3% | 12,593,522 | 29.5%
5 | Sound credit standing | 6,690,654 | 15.7% | 5,498,715 | 12.9%
6 | Acceptable credit standing | 2,204,555 | 5.2% | 1,693,830 | 4.0%
7 | Marginal credit standing | 549,563 | 1.3% | 437,974 | 1.0%
8 | Weak credit standing/sub-standard | 91,479 | 0.2% | 158,347 | 0.4%
9 | Very weak credit standing/doubtful | 267,916 | 0.6% | 215,148 | 0.5%
10 | Default | 596,152 | 1.4% | 1,545,506 | 3.6%
NR | Not rated | 34,670 | 0.1% | 21 | 0.0%
Total | 42,532,140 | 100.0% | 42,753,549 | 100.0%

The total credit exposure for corporate customers decreased € 221,409 thousand compared to year-end 2024 to € 42,532,140
thousand.
The decline for corporate customers was primarily due to a reduction in credit and facility financing in Austria, Luxembourg,
Indonesia and Great Britain, which was partly offset by increases of facility financing in Switzerland. In addition, there was a
decline of swap and foreign exchange transactions in Austria. The decrease was partly offset by higher repo transactions in
Singapore and guarantees issued in Austria.
The five grades rating model for project finance is based on the slotting criteria in accordance with EBA/RTS/2016/02.

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
6.1 | Excellent project risk profile – very low risk | 1,813,681 | 49.7% | 1,978,649 | 66.6%
6.2 | Good project risk profile – low risk | 1,033,513 | 28.3% | 522,743 | 17.6%
6.3 | Acceptable project risk profile – average risk | 105,643 | 2.9% | 205,387 | 6.9%
6.4 | Poor project risk profile – high risk | 56,500 | 1.5% | 0 | 0.0%
6.5 | Default | 640,289 | 17.5% | 263,273 | 8.9%
NR | Not rated | 2 | 0.0% | 0 | 0.0%
Total | 3,649,628 | 100.0% | 2,970,052 | 100.0%

Credit exposure to loans reported under project financing showed an increase of € 679,577 thousand to € 3,649,628 thousand
as at 31 December 2025. The increase in Germany was mainly due to a reclassification of three existing defaulted customers
from corporate customers to project finance, coordinated with the regulator.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
622 Management report
Credit portfolio – Retail customers
Credit exposure to retail customers according to internal rating:

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
0.5 | Minimal risk | 343,934 | 8.6% | 408,157 | 13.5%
1.0 | Excellent credit standing | 357,277 | 9.0% | 323,957 | 10.7%
1.5 | Very good credit standing | 200,609 | 5.0% | 98,169 | 3.2%
2.0 | Good credit standing | 646,567 | 16.2% | 41,158 | 1.4%
2.5 | Sound credit standing | 1,031,672 | 25.9% | 32,499 | 1.1%
3.0 | Acceptable credit standing | 354,586 | 8.9% | 17,953 | 0.6%
3.5 | Marginal credit standing | 202,308 | 5.1% | 8,932 | 0.3%
4.0 | Weak credit standing/sub-standard | 133,652 | 3.4% | 8,861 | 0.3%
4.5 | Very weak credit standing/doubtful | 82,430 | 2.1% | 12,733 | 0.4%
5.0 | Default | 97,673 | 2.5% | 135,485 | 4.5%
NR | Not rated | 533,134 | 13.4% | 1,937,793 | 64.0%
Total | 3,983,840 | 100.0% | 3,025,698 | 100.0%

The not rated credit exposure includes mainly credit card limits in Austria. The decline in not rated customers was mainly due
to the fact that most of the credit card business in Austria received a rating in the first quarter of 2025.
Credit portfolio – Banks
The following table shows the total credit exposure by internal rating for banks (excluding central banks). Due to the small
number of customers (or observable defaults), the default probabilities of individual rating grades in this asset class are
calculated based on a combination of internal and external data. The shifts within the individual rating categories partly
resulted from the regular recalibration of the rating models for credit institutions.

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
1 | Minimal risk | 3,859,713 | 17.5% | 3,030,603 | 12.6%
2 | Excellent credit standing | 927,454 | 4.2% | 1,839,065 | 7.6%
3 | Very good credit standing | 12,742,749 | 57.8% | 15,535,808 | 64.6%
4 | Good credit standing | 3,800,460 | 17.2% | 2,928,456 | 12.2%
5 | Sound credit standing | 372,254 | 1.7% | 481,004 | 2.0%
6 | Acceptable credit standing | 141,636 | 0.6% | 85,491 | 0.4%
7 | Marginal credit standing | 123,540 | 0.6% | 59,240 | 0.2%
8 | Weak credit standing/sub-standard | 484 | 0.0% | 7,866 | 0.0%
9 | Very weak credit standing/doubtful | 70,498 | 0.3% | 96,011 | 0.4%
10 | Default | 226 | 0.0% | 343 | 0.0%
NR | Not rated | 60 | 0.0% | 175 | 0.0%
Total | 22,039,074 | 100.0% | 24,064,062 | 100.0%

Total credit exposure to banks as at 31 December 2025 amounted to € 22,039,074 thousand, an decrease of € 2,024,988
thousand compared to year-end 2024. This decrease resulted mainly from lower repo transactions in France, Italy and the
Netherlands, which was partly offset by a increases in Germany, Ireland, the United Arab Emirates and Singapore.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 623
Credit portfolio – Sovereigns
Another asset class is formed by central governments, central banks, and regional municipalities as well as other public sector
entities. The credit exposure to sovereigns includes local and regional governments.
Credit exposure to sovereigns (including central banks) by internal rating:

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
1 | Excellent credit standing | 2,788,750 | 14.9% | 2,503,512 | 12.7%
2 | Very good credit standing | 13,548,883 | 72.2% | 15,806,016 | 79.9%
3 | Good credit standing | 1,529,569 | 8.2% | 1,095,342 | 5.5%
4 | Sound credit standing | 795,460 | 4.2% | 319,194 | 1.6%
5 | Average credit standing | 62,827 | 0.3% | 25,778 | 0.1%
6 | Mediocre credit standing | 13,828 | 0.1% | 4,030 | 0.0%
7 | Weak credit standing | 17 | 0.0% | 410 | 0.0%
8 | Very weak credit standing | 0 | 0.0% | 21 | 0.0%
9 | Doubtful/high default risk | 18,389 | 0.1% | 19,496 | 0.1%
10 | Default | 7,984 | 0.0% | 8,657 | 0.0%
NR | Not rated | 198 | 0.0% | 3,998 | 0.0%
Total | 18,765,905 | 100.0% | 19,786,454 | 100.0%

Credit exposure to sovereigns decreased € 1,020,549 thousand to € 18,765,905 thousand compared to year-end 2024. The
highest decrease was recorded in rating grade 2, which was mainly due to decreased money market transactions with the
Austrian national bank, partly offset by an increase of Austrian government bonds.
Credit portfolio management
RBI AG’s credit portfolio is managed, among other factors, on the basis of the portfolio strategy. This limits the exposure to
different countries, industries and product types to avoid undesired risk concentrations. In addition, the long-term
opportunities in the single markets are regularly analyzed. This enables future lending activities to be strategically repositioned
at an early stage.
RBI AG’s credit portfolio is broadly diversified by region and sector. The geographical breakdown of the loans on and off the
statement of financial position reflects the broad diversification of the credit business in the European markets. These loans
are broken down by region according to the borrower’s country of risk as follows (countries with credit exposure greater than
€ 1 billion are shown separately):

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
Austria | 36,229,792 | 39.8% | 37,536,679 | 40.5%
Germany | 12,552,492 | 13.8% | 11,140,401 | 12.0%
France | 5,193,624 | 5.7% | 8,564,605 | 9.2%
Switzerland | 3,522,857 | 3.9% | 2,988,497 | 3.2%
Great Britain | 3,394,561 | 3.7% | 3,390,935 | 3.7%
Far East | 2,431,386 | 2.7% | 2,111,369 | 2.3%
Netherlands | 2,305,223 | 2.5% | 2,359,228 | 2.5%
Spain | 2,207,392 | 2.4% | 1,858,192 | 2.0%
United States of America | 1,894,356 | 2.1% | 1,445,368 | 1.6%
Poland | 1,848,383 | 2.0% | 2,296,422 | 2.5%
Luxembourg | 1,781,584 | 2.0% | 2,227,740 | 2.4%
Italy | 1,709,934 | 1.9% | 2,460,820 | 2.7%
Belgium | 1,468,034 | 1.6% | 1,292,464 | 1.4%
Romania | 1,353,196 | 1.5% | 1,245,909 | 1.3%
Ireland | 1,037,906 | 1.1% | 717,154 | 0.8%
Czech Republic | 1,005,425 | 1.1% | 1,253,212 | 1.4%
Other | 11,034,441 | 12.1% | 9,710,818 | 10.5%
Total | 90,970,586 | 100.0% | 92,599,814 | 100.0%

RBI AG’s loan portfolio decreased € 1,629,228 thousand to € 90,970,586 thousand. The largest decline was recorded in France of
€ 3,370,981 thousand to € 5,193,624 thousand which resulted mainly from reduced repo transactions. The decrease in Austria of
€ 1.306.887 thousand to € 36,229,792 thousand was mainly due to a decline of money market business, which was partly offset
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
624 Management report
by an increase of bond portfolios, and credit and facility financing. The increase in Germany resulted mainly from higher repo
transactions, credit and facility financing, and bond transactions. Italy recorded a decrease due to lower repo transactions,
which was partly offset by increased bond transactions.
Risk policies and the assessment of credit ratings at RBI AG also take account of the borrowers’ industries. Banking and
insurance represent the largest industry class in the credit portfolio. However, this is largely attributable to exposures to
members of the Austrian Raiffeisen Group. Sovereigns mainly includes securities of the Republic of Austria as issuer.
Credit exposure broken down by industry classification:

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
Financial Intermediation | 30,903,983 | 34.0% | 36,553,646 | 39.5%
Manufacturing | 14,685,998 | 16.1% | 13,832,753 | 14.9%
Public administration and defense and social insurance institutions | 13,280,626 | 14.6% | 10,548,895 | 11.4%
Wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods | 7,687,799 | 8.5% | 8,641,886 | 9.3%
Real estate, renting and business activities | 6,576,208 | 7.2% | 7,200,845 | 7.8%
Private households | 3,895,512 | 4.3% | 2,990,525 | 3.2%
Electricity, gas and water supply | 3,841,500 | 4.2% | 3,439,538 | 3.7%
Construction | 2,092,047 | 2.3% | 1,872,765 | 2.0%
Transport, storage and communication | 1,493,149 | 1.6% | 1,381,820 | 1.5%
Education; health and social work; other community, social and personal service activities | 983,389 | 1.1% | 905,840 | 1.0%
Agriculture, hunting and forestry; fishing; mining and quarrying | 673,370 | 0.7% | 638,453 | 0.7%
Other | 4,857,005 | 5.3% | 4,592,848 | 5.0%
Total | 90,970,586 | 100.0% | 92,599,814 | 100.0%

The detailed credit portfolio analysis shows the breakdown by rating grade. Customer rating assessments are performed
separately for different asset classes using internal risk classification models (rating and scoring models), which are validated
by a central organizational unit. The default probabilities assigned to individual rating grades are calculated separately for
each asset class. However, the use of a master scale enables rating grades to be compared even across business segments.
For retail asset classes, country-specific scorecards are developed based on uniform Group standards. Corresponding tools are
used to produce and validate ratings (e.g. business valuation tools, rating and default databases).
Collateralization is one of the main strategies and an actively pursued measure for reducing potential credit risks. The value of
collateral and the effects of other risk mitigation techniques are determined during the limit application process. The risk
mitigation effect taken into account is the value that RBI AG expects to receive when it sells the collateral within a reasonable
period. Types of eligible collateral are defined in the collateral list and relevant valuation guidelines. The collateral value is
calculated according to uniform methods, including standardized calculation formulas based on market values, predefined
minimum discounts, and expert assessments.
Credit default and workout process
The credit portfolio and individual borrowers are subject to constant monitoring. The main objectives of monitoring are to
ensure that the borrower meets the terms and conditions of the contract and to keep track of the borrower’s financial
position. Such a review is conducted at least once annually in the non-retail asset classes (corporates, financial institutions, and
sovereigns). This includes a rating review and the revaluation of financial and tangible collateral.
Problem loans (where debtors might run into material financial difficulties or a delayed payment is expected) need special
treatment. If restructuring is necessary, problem loans are assigned either to a designated specialist or to a restructuring unit
(workout department),which work independently of the market side and are also subject to a separate responsibility. Involving
employees of the workout departments at an early stage can help reduce losses from problem loans and/or optimize the
collateral structure of the loan.
Credit default is assessed on the basis of quantitative and qualitative criteria. First, a borrower is considered to be in default if
its contractual payments are more than 90 days overdue. Second, a borrower is considered to be in default if it meets the
criteria of unlikely payment, which indicate that the customer is in significant financial difficulty and is unlikely to meet its
payment obligations. Any existing collateral (such as real estate, guarantees, etc.) is evaluated annually and on an ad hoc basis
by collateral experts outside of the restructuring units. Only the values determined by these experts are used for calculations,
such as impairments. A loan obligation is no longer classified as default if - after a period of at least three months (six months
after a non-performing retail restructuring, and 12 months after a non-performing non-retail restructuring) – the customer has
shown good payment discipline during this period and no further indications of a high probability of default have been
identified.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 625
As of end of December 2025, the NPE ratio of RBI AG was 2.5 per cent (December 31, 2024: 3.2 per cent), the NPE coverage ratio
was 28.5 per cent (December 31, 2024: 50.9 per cent).
The following table shows the development of impairment losses on loans and provisions for liabilities off the statement of
financial position during the financial year and the corresponding asset classes:

in € thousand | As at 1/1/2025 | Allocation | Release 2 | Usage 1 | Reclassifications, exchange differences 3 | As at 31/12/2025
Individual loan loss provisions | 1,120,695 | 449,236 | (317,922) | (824,382) | (4,267) | 423,360
Banks | 319 | 0 | (108) | 0 | 0 | 211
Corporate customers | 1,025,748 | 431,811 | (282,527) | (821,608) | (5,053) | 348,371
Retail customers | 85,471 | 12,263 | (29,551) | (2,379) | 791 | 66,595
Sovereigns | 6,767 | 2,140 | (2,758) | (395) | 0 | 5,754
Off-balance sheet obligations | 2,390 | 3,022 | (2,978) | 0 | (5) | 2,429
Portfolio-based loan loss provisions | 108,865 | 519,451 | (451,456) | 0 | (819) | 176,041
Banks | 6,869 | 3,710 | (9,518) | 0 | (2) | 1,059
Corporate customers | 61,294 | 376,098 | (325,464) | 0 | (553) | 111,375
Retail customers | 11,390 | 9,664 | (8,787) | 0 | 137 | 12,404
Sovereigns | 218 | 296 | (305) | 0 | 0 | 209
Off-balance sheet obligations | 29,094 | 129,683 | (107,382) | 0 | (401) | 50,994
Total | 1,229,560 | 968,687 | (769,378) | (824,382) | (5,086) | 599,401
1 This contains unwinding interest income from impaired customers and changes in internal interest exemptions 2 This contains changes in internal interest exemptions 3 This contains reclassifications of provisions and changes in customer categories

Country risk
Country risk includes transfer and convertibility risks as well as political risk and macroeconomic risk in a broader sense, which
arises from cross-border transactions in foreign countries. Activities in core markets are given particular attention in this
respect.
As part of an established approach across all RBI Group units, RBI AG’s active country-risk management is ensured based on
the country risk policy, which is set regularly and approved by the Management Board. This policy is part of the credit portfolio
limit system and sets a strict limitation on cross-border risk exposure to individual countries. At the same time, the policy is
designed to incentivize risk-taking within the RBI Group’s core markets. The limit levels for individual countries are established
using an internal model based on pillars such as the RBI Group’s own capitalization, the internal sovereign rating and
respectively the internal country risk score, and the size and dynamics of the country and its banking sector. Over the past
years geopolitical risks have gained in importance and attention within RBI’s internal steering framework.
Country risk is also reflected through the internal funds transfer pricing system in product pricing and in risk-adjusted
performance measurement. In this way, the bank offers the business units an incentive to hedge country risks (e.g. by seeking
insurance with export credit insurance organizations or guarantors in third countries). The insights gained from the country risk
analysis are not only used to limit total cross-border exposure, but also to manage the total credit exposure in each individual
country (i.e. including the exposure that is funded by local deposits). RBI AG thus aligns its business activities with the expected
economic development in different markets and enhances the broad diversification of its credit portfolio.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
626 Management report
Counterparty credit risk
The default of a counterparty in a derivative, repurchase, securities lending transaction can lead to losses from reestablishing
an equivalent contract. At RBI AG this risk is measured by the mark-to-market approach where a predefined add-on is added
to the current positive fair value of the contract in order to account for potential future changes. For internal management
purposes potential price changes, which affect the fair value of an instrument, are calculated specifically for different contract
types based on historical market price changes.
For derivative contracts the standard limit approval process applies, where the same risk classification, limitation, and
monitoring process is used as for traditional lending. Credit risk mitigation instruments such as netting agreements and
collateralization represent an important strategy for reducing counterparty credit risk. In general, RBI AG strives to establish
standardized ISDA master agreements with all major counterparties for derivative transactions in order to be able to perform
close-out netting and credit support annexes (CSA) for full risk coverage for positive fair values on a daily basis.
Participation risk
The risks from listed and unlisted participations are also considered to be part of the banking book. They are reported
separately under this risk category. Most of RBI AG’s direct or indirect participations are fully consolidated in the consolidated
financial statements and their risks are therefore captured in detail. Accordingly, the management, measurement and
monitoring methods described for the other types of risk are used for the risks arising out of such participations.
The roots of participation risk and default risk are similar: a deterioration in the financial situation of a participation is normally
followed by a rating downgrade (or default) of that unit. The calculation of the economic capital for participations is based on
an extension of the credit risk approach according to Basel III.
RBI AG’s participations are managed by RBI Group Subsidiaries & Equity Investments. It monitors the risks that arise from long-
term participations in equity and is also responsible for the ensuing results. New investments are made only by RBI AG’s
Management Board on the basis of a separate due diligence.
Market risk
RBI AG defines market risk as the risk of possible losses arising from changes in market prices of trading and banking book
positions. Market risk estimates are based on changes in exchange rates, interest rates, credit spreads, equity and commodity
prices and other relevant market parameters (e.g. implied volatilities).
Market risks from the customer divisions are transferred to the Treasury division using the transfer price method. Treasury is
responsible for managing structural market risks and for complying with the bank’s overall limit. The Capital Markets division is
responsible for proprietary trading, market making, and customer business in money market and capital market products.
Organization of market risk management
RBI AG measures, monitors, and manages all market risks for the bank as a whole.
The Market Risk Committee is responsible for strategic market risk management issues. It is responsible for managing and
controlling all market risks. The bank’s overall limit is set by the Management Board on the basis of the risk-taking capacity
and income budget. This limit is apportioned to sub-limits in coordination with business divisions according to strategy,
business model and risk appetite. The Market Risk Management department ensures that the business volume and product
range comply with the defined and agreed strategy and risk appetite. It is responsible for developing and enhancing risk
management processes, manuals, measurement techniques, risk management infrastructure and systems for all market risk
categories and credit risks arising from market price changes in derivative transactions. Furthermore, Market Risk
Management independently measures and reports all market risks on a daily basis.
All products in which open positions can be held are listed in the product catalog. New products are added to this list only after
successfully completing the product approval process. Product applications are investigated thoroughly for any risks. They are
approved only if the new products can be implemented in the bank’s front- and back-office and risk management systems.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 627
Limit system
RBI AG uses a comprehensive risk management approach for both the trading and the banking books (total-return approach).
Market risk is therefore managed consistently in all trading and banking books. The following indicators are measured and
limited on a daily basis in the market risk management system:
· Value-at-Risk (VaR) confidence level 99 per cent
Value-at-Risk is the main market risk steering instrument in liquid markets and normal market situations. Two
different methods of calculation are used, depending on the steering approach. The consistency between P&L and
risk figures is in parallel necessary with the economic scope of RBI AG in order to ensure comprehensive control. For
the overall portfolio including the banking book, a model is used that is based on a historical simulation and which is
suitable for longer-term steering of the market risks from the banking books (ALL model, confidence level 99 per
cent, risk horizon 20 days). The calculation is based on overlapping 20-day returns of the last seven years and is also
used for allocating economic capital. For all market risks with a direct impact on the income statement, a model is
used that provides a good forecast of short-term volatility (IFRS P&L model, confidence level 99 per cent, risk horizon
1 day). The Austrian Financial Market Authority has approved this approach as an internal model for calculating the
total capital requirement for market risks for RBI AG’s trading book. Both models calculate value-at-risk indicators
for changes in the risk factors foreign currencies, interest rate trend, credit spreads, implicit volatility, stock indices
and basis spreads.
· Sensitivities (to changes in exchange rates and interest rates, gamma, vega, equity and commodity prices)
Sensitivity limits are to ensure that concentrations are avoided in normal market situations and are the main
steering instrument under extreme market situations and in illiquid markets or in markets that are structurally
difficult to measure.
· Stop loss
Stop loss limits serve to strengthen the discipline of traders such that they do not allow losses to accumulate on
their own proprietary positions but strictly limit them instead.
A comprehensive stress testing concept complements this multi-level limit system. It simulates potential present value
changes of defined scenarios for the total portfolio. The results on market risk concentrations shown by these stress tests are
reported to the Market Risk Committee and taken into account when setting limits. Stress test reports for individual portfolios
are included in daily market risk reporting.
Value-at-Risk and theoretical market price changes of trading book
The following tables show the VaR (VaR ALL 99 per cent, 20 days and VaR IFRS P&L 99 per cent, one day) for the individual
market risk categories in the trading books, while the overall risk is shown for the banking book. The IFRS-P&L model aims to
measure short-term market fluctuations, while the ALL model focuses on measuring structural interest rate risks. Structural
equity positions, structural interest rate risks, especially in euro, and also spread risks from bond books maintained as a
liquidity buffer dominate RBI AG’s VaR.

Model IFRS-P&L trading book VaR (99%, 1d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € thousand | 31/12/2025 |  |  |  | 31/12/2024
Currency risk | 505 | 616 | 99 | 1,532 | 392
Interest rate risk | 2,085 | 1,611 | 883 | 2,408 | 895
Credit spread risk | 2,719 | 1,914 | 621 | 3,102 | 734
Total | 2,078 | 1,753 | 944 | 2,617 | 1,025

Model IFRS-P&L total VaR (99%, 1d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € thousand | 31/12/2025 |  |  |  | 31/12/2024
Currency risk | 1,742 | 2,994 | 1,514 | 7,493 | 1,928
Interest rate risk | 2,046 | 2,160 | 1,149 | 7,202 | 1,545
Credit spread risk | 2,833 | 2,291 | 1,341 | 4,154 | 1,893
Total | 2,962 | 4,305 | 2,466 | 8,891 | 3,352

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
628 Management report

Model ALL VaR (99%, 20d) | VaR as at | Average VaR | Minimum VaR | Maximum VaR | VaR as at
in € thousand | 31/12/2025 |  |  |  | 31/12/2024
Economic capital ALL | 80,616 | 62,802 | 26,102 | 94,517 | 43,405
Total ALL (Risk categories) |  |  |  |  |
Currency risk | 4,728 | 3,622 | 946 | 94,517 | 5,246
Interest rate risk | 70,851 | 55,301 | 14,372 | 85,867 | 36,681
Credit spread risk | 38,581 | 33,136 | 17,384 | 48,384 | 21,298
Banking book (99%, 20d) |  |  |  |  |
Interest rate risk in the banking book 1 | 67,153 | 61,446 | 17,239 | 81,965 | 50,180
1 Previous year figure adapted due to method change

Besides qualitative analysis of profitability, back-testing and statistical validation techniques are regularly used to monitor the
risk measurement methods employed. If model weaknesses are identified, the methods are adjusted. In the 2025 reporting
year, there was a hypothetical back-testing violation due to increased market volatility and sharp movement in rates. The
following chart compares VaR with the hypothetical profits and losses on a daily basis. VaR denotes the maximum loss that will
not be exceeded with a 99 per cent confidence level within a day. It is compared to the respective theoretical gain or loss which
would arise on the following day due to the actual market conditions at the time.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 629
Interest rate risk in the trading book
The following table shows the largest present value changes in the trading book given a parallel one-basis-point interest rate
increase (significant currencies shown separately). The trading book sensitivities presented are calculated as the total position
of each node without considering the banking book positions.

31/12/2025 | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
in € thousand
CHF | (32) | (7) | 0 | (1) | (1) | (1) | (9) | (1) | (4) | (5) | (3) | 0
CNY | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (28) | (2) | 3 | 3 | (18) | (3) | (3) | (11) | 8 | (2) | (1) | (2)
EUR | (1174) | 86 | (74) | (21) | 46 | (13) | (101) | (400) | (311) | (392) | 9 | (4)
GBP | (5) | 0 | (3) | (3) | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0
HUF | (17) | 2 | 4 | (7) | (2) | 2 | (5) | (6) | 6 | (9) | (1) | (1)
NOK | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
PLN | (6) | (6) | (6) | (8) | 17 | (4) | 4 | (5) | 2 | 0 | 0 | 0
RON | (9) | 2 | (2) | (1) | (3) | (3) | (1) | (1) | 0 | 0 | 0 | 0
RUB | (4) | 0 | 0 | 2 | (4) | 0 | 0 | (1) | (1) | 0 | 0 | 0
USD | (25) | 10 | (8) | (15) | (8) | 1 | 5 | (17) | (2) | 10 | (7) | 5
Other | (6) | 0 | 0 | (1) | 0 | 0 | (1) | (1) | (1) | (1) | (1) | 0

31/12/2024 | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
in € thousand
CHF | 0 | (2) | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0
CNY | 4 | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (4) | 5 | (7) | (10) | 6 | 4 | (3) | 8 | (5) | 1 | (1) | (4)
EUR | 21 | 13 | 8 | 1 | (20) | 16 | 14 | (27) | 80 | (52) | (26) | 16
GBP | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | 8 | 3 | 2 | 0 | (2) | 10 | 1 | 1 | (2) | (5) | (1) | 0
NOK | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
PLN | (3) | (5) | (3) | 3 | 2 | 0 | (5) | 4 | 0 | 0 | 0 | 0
RON | (4) | 0 | 0 | 2 | (2) | 2 | (4) | 0 | 0 | 0 | 0 | 0
RUB | (1) | 0 | 0 | 0 | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0
USD | (41) | (1) | (1) | (7) | (7) | (18) | (8) | 0 | 0 | (3) | (2) | 6
Other | (8) | 0 | 0 | 0 | (5) | 4 | (3) | 135 | 0 | 0 | 0 | 0

Interest rate risk in the banking book
Different maturities and repricing schedules of assets and the corresponding liabilities (i.e. deposits and financing from money
markets and capital markets) cause interest rate risk in RBI AG. This risk arises in particular from different interest rate
sensitivities, rate adjustments, and other optionality of expected cash flows. Interest rate risk in the banking book is material
for the euro and US dollar as major currencies.
This risk is mainly hedged by a combination of transactions on and off the statement of financial position where in particular
interest rate swaps and – to a smaller extent – also interest rate forwards and interest rate options are used. Management of
the statement of financial position is a core task of the Treasury division, which is supported by the Group Asset/Liability
Committee. The latter uses scenarios and interest income simulations that ensure proper interest rate sensitivity in line with
expected changes in market rates and the overall risk appetite. Interest rate risk in the banking book is not only measured in a
value-at-risk framework but also managed by the traditional tools of nominal and interest rate gap analyses. The following
table shows the change in the present value of the banking book given a one-basis-point parallel interest rate increase. The
main currencies are shown separately.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
630 Management report

31/12/2025 | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
in € thousand
CHF | (31) | (5) | 0 | (1) | 0 | (1) | (8) | (2) | (4) | (6) | (3) | 0
CNY | (2) | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (5) | 4 | 0 | 2 | (4) | 2 | (9) | (1) | 3 | 0 | 0 | 0
EUR | (976) | 51 | (75) | (12) | 24 | 1 | (160) | (201) | (367) | (209) | (23) | (4)
GBP | (6) | (1) | (3) | (2) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | (9) | 2 | (1) | 1 | (1) | (2) | (7) | (2) | 0 | 0 | 0 | 0
PLN | (5) | (3) | (3) | (1) | 4 | 0 | (1) | 0 | 0 | 0 | 0 | 0
SGD | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
USD | 7 | 11 | 0 | (6) | (3) | 0 | 5 | 0 | 0 | 0 | 0 | 0
Other | (6) | (1) | 0 | 2 | (4) | 1 | (1) | (1) | 0 | (1) | (1) | 0

31/12/2024 | Total | < 3 m | > 3 to 6 m | > 6 to 12 m | > 1 to 2 y | > 2 to 3 y | > 3 to 5 y | > 5 to 7 y | > 7 to 10 y | > 10 to 15 y | > 15 to 20 y | > 20 y
in € thousand
CHF | (49) | (17) | (2) | 0 | 1 | 0 | (8) | (5) | (6) | (7) | (5) | (1)
CNY | (2) | 0 | (1) | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
CZK | (13) | 3 | 0 | 0 | (6) | (2) | (1) | (7) | 4 | (3) | 0 | 0
EUR | (333) | 144 | 20 | 118 | (9) | 43 | (392) | (108) | 89 | (119) | (136) | 17
GBP | (9) | 0 | 0 | (5) | (4) | 0 | 0 | 0 | 0 | 0 | 0 | 0
HUF | (11) | 1 | (2) | (1) | 1 | (5) | (6) | 0 | 0 | 0 | 0 | 0
PLN | (2) | 0 | (3) | (2) | (1) | 3 | 0 | 0 | 0 | 0 | 0 | 0
SGD | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
USD | (8) | 8 | (12) | (3) | (5) | 3 | 2 | (1) | 0 | 0 | 0 | 0
Other | (1) | 0 | 0 | 0 | 5 | (4) | 2 | 0 | 0 | (1) | (2) | 0

Credit spread risk
The market risk management framework uses time-dependent bond and CDS-spread curves as risk factors in order to
measure credit spread risks. It captures all capital market instruments in the trading and banking book.
Liquidity management
Principles
Internal liquidity management is an important business process within general bank management, because it ensures the
continuous availability of funds required to cover day-to-day demands.
Liquidity adequacy is ensured from both an economic and a regulatory perspective. In order to approach the economic
perspective RBI AG established a governance framework comprising internal limits and steering measures which complies with
the Principles for Sound Liquidity Risk Management and Supervision set out by the Basel Committee on Banking Supervision and
the Kreditinstitute-Risikomanagement-Verordnung (KI-RMV) issued by the Austrian regulatory authority.
The regulatory component is addressed by compliance with reporting requirements under Basel III (Liquidity Coverage Ratio,
Net Stable Funding Ratio and Additional Liquidity Monitoring Metrics) as well as by complying with the regulatory limits.
Liquidity risk management during the war in Ukraine
Despite the ongoing war in Ukraine and intense media coverage of RBI, the liquidity position remained stable throughout the
financial year.
The ILAAP framework and governance once again proved to be solid and functioning even in times of crisis. Daily monitoring of
the liquidity position using dynamic dashboards showed that the infrastructure and monitoring are effective and support quick
reactions in times of crisis.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 631
Organization and responsibility
Responsibility for ensuring adequate levels of liquidity lies with the overall Management Board. The board members with
functional responsibility are the Chief Financial Officer (Treasury) and the Chief Risk Officer (Risk Controlling). Accordingly, the
processes regarding liquidity risk are essentially run by two areas within the bank: Firstly the Treasury unit, which takes on
liquidity risk positions within the strategy, guidelines and parameters set by the responsible decision-making bodies. Secondly,
they are monitored and supported by the independent Risk Controlling unit, which measures and models liquidity risk positions,
sets limits and supervises compliance with them.
Besides the responsible units in the line functions, the Asset/Liability Management Committee (ALCO) acts as the decision-
making body with respect to all matters affecting the management of the liquidity position and statement-of-financial-
position structure of RBI AG, including the definition of strategies and policies for managing liquidity risks. The ALCO takes
decisions and provides standard reports on liquidity risk to the respective Management Boards at least on a monthly basis.
Liquidity strategy
Treasury units are committed to achieving KPIs and to complying with risk-based principles. The current set of KPIs includes
general targets (e.g. for return on risk-adjusted capital (RORAC) or coverage ratios), as well as specific Treasury targets for
liquidity such as a minimum survival period in defined stress scenarios or minimum liquidity targets in regulatory indicators.
While generating an adequate structural income from maturity transformation which reflects the liquidity and market risk
positions taken by the bank, Treasury has to follow a prudent and sustainable risk policy when steering the balance sheet.
Strategic goals comprise a reduction in parent funding within the group, the sustainable management of the depositor base
and of credit growth as well as continuous compliance with regulatory requirements and the internal limit framework.
Liquidity Risk Framework
Regulatory and internal liquidity reports and ratios are generated and determined based on particular modelling assumptions.
Whereas the regulatory reports are calculated on specifications given by authorities, the internal reports are modelled with
assumptions from empirical observations.
RBI AG has a substantial database along with expertise in forecasting cash flows arising from all material on- and off-balance
sheet positions. The modelling of liquidity inflows and outflows is carried out on a sufficient granular level, differentiating
between product and customer segments, and, where applicable, currencies as well. Modelling of customer deposits includes
assumptions concerning the retention times for deposits after maturity. The model assumptions are quite prudent, e.g. there is
a "no rollover" assumption on funding from banks and all funding channels and the liquidity buffer are stressed simultaneously.
The cornerstones of the economic liquidity risk framework are the Going Concern (GC) and the Time to Wall (TTW) scenario.
The Going Concern report shows the structural liquidity position. It covers all main risk drivers which could detrimentally affect
RBI AG in a business-as-usual scenario. The Going Concern models are important input factors for the liquidity contribution to
the internal funds transfer pricing model. On the other hand, the Time to Wall report shows the survival horizon for defined
adverse scenarios and stress models (market, reputational and combined crisis) and determines the minimum level of the
liquidity buffer (and/or the counter-balancing capacity) for each Group unit.
The liquidity scenarios are modelled using a group-wide approach which considers local specifics where warranted due to
influencing factors such as the market or the legal environment or certain business characteristics. When modelling cash
inflows and outflows a distinction is at minimum made between products, customer segments and individual currencies (where
applicable). For products without a contractual maturity, the distribution of cash inflows and outflows is calculated using a
geometric Brownian motion which derives statistical forecasts for future daily balances from the observed, exponentially
weighted historical volatility of the corresponding products. For market crisis scenario a special model for assessment of the
potential liquidity outflow due to margin calls is in place. This model relies on Value-at-Risk calculations to estimate the
potential depreciation of derivative portfolios involving counterparties with CSA or variation margin agreements. By
incorporating this outflow into the liquidity risk stress test, a corresponding buffer is maintained to account for potential
margin calls in extremely adverse situations.
The liquidity risk framework is continuously developed. The technical infrastructure is further enhanced in numerous projects
and data availability is improved in order to meet the increasing regulatory and internal reporting and management
requirements for this area of risk.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
632 Management report
Risk appetite and liquidity limits
The liquidity position is monitored at the level of RBI AG and at the level of its branches and is restricted by means of a
comprehensive limit system. Limits are defined both under a business-as-usual as well as under a stress perspective. In
accordance with the defined risk appetite, each unit must demonstrate a survival horizon of several months (TTW) in a severe,
combined stress scenario (reputational and market stress). This can be ensured either by a structurally positive liquidity profile
or by a sufficiently high liquidity buffer. In a normal going-concern environment (GC), maturity transformation must be fully
covered by the available liquidity buffer in the medium term. This means that the cumulative liquidity position over a period of
up to one year must be positive. In the long term (one year or more), maturity transformation is permitted up to a certain level.
For internal models, these limits are supplemented by limits for compliance with regulatory liquidity ratios, such as the liquidity
coverage ratio (LCR). All limits must be complied with on a daily basis.
Liquidity monitoring
The bank uses a range of customized measurement tools and early warning indicators that provide board members and senior
management with timely and forward-looking information. The limit framework ensures that the bank can continue to
operate in a period of severe stress.
Monitoring of limits and reporting limit compliance is performed regularly and effectively. Any breach by Group units is
reported to the Group ALCO and escalated. In such cases, appropriate steps are undertaken in consultation with the relevant
unit or contentious matters are escalated to the next highest responsible body.
Liquidity stress test
Stress tests are conducted for RBI AG on a daily basis on Group level. The tests cover three scenarios (market, reputational and
combined crisis), consider the effects of the scenarios for a period of several months and demonstrate that stress events can
simultaneously result in a time-critical liquidity requirement in several currencies. The stress scenarios include the principal
funding and market liquidity risks; all units of RBI AG are simultaneously subject to a severe combined crisis for all their major
products. The results of the stress tests are reported to the Management Board and other members of management on a
weekly basis; they also form a key component of the monthly ALCO meetings and are included in the bank’s strategic planning
and contingency planning.
A conservative approach is adopted when establishing outflow ratios based on historical data and expert opinions. The
simulations assume a lack of access to the money or capital markets and simultaneously significant outflows of customer
deposits. In this respect, the deposit concentration risk is also considered by assigning higher outflow ratios to large customers.
Furthermore, stress assumptions are formulated for the drawdown of guarantees and credit obligations. In addition, the
liquidity buffer positions are adapted by haircuts in order to cover the risk of disadvantageous market movements, and the
potential outflows resulting from collateralized derivative transactions are estimated. The bank continuously monitors
whether the stress assumptions are still appropriate or whether new risks need to be considered.
The time to wall concept has established itself as the main control instrument for day-to-day liquidity management and is
therefore a central component of funding planning and budgeting. It is also fundamental to determining performance ratios
relating to liquidity.
Liquidity buffer
As shown by the daily liquidity risk reports, the main Group units actively maintain and manage liquidity buffers, including high-
quality liquid assets (HQLA) which are always sufficient to cover the net outflows expected in crisis scenarios. RBI AG has
sizeable, unencumbered and liquid securities portfolios and favors securities eligible for Central Bank tender transactions in
order to ensure sufficient liquidity in various currencies. The main Group units ensure the availability of liquidity buffers, test
their ability to utilize central bank funds, constantly evaluate their collateral positions as regards their market value and
encumbrance and examine the remaining counterbalancing capacity, including the funding potential and the salability of the
assets.
Stress assumptions are applied to all positions in the liquidity buffer. This is reflected in the stress test liquidity report (time-to-
wall) and includes both a central bank haircut and a specific write-down assumption. The central bank haircut is applied to
each individual security eligible as collateral. The write-down assumption is modeled for the portfolio of eligible securities
based on historical market indicators and reduces the volume of the liquidity buffer in the stress test scenario.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 633
Intraday liquidity management
In compliance with regulatory requirements for intraday liquidity risk management, the available liquidity is calculated daily on
the basis of the outflow assumptions of the regular liquidity stress report (time-to-wall) for RBI AG. In case of limit breaches,
the intraday contingency and escalation process is triggered.
Contingency funding plan
Under difficult liquidity conditions, the units switch to a con tingency process in which they follow predefined liquidity
contingency plans. These contingency plans also constitute an element of the liquidity management framework and are
mandatory for all significant Group units and thus also for RBI AG. The emergency management process is designed so that
the Group can retain a strong liquidity position even in serious crisis situations.
Liquidity position
Funding is founded on a strong deposit base. Funding requirements are regularly updated to take account of balance sheet
developments and to ensure that liquidity ratios are maintained in accordance with management requirements. The ability to
procure funds is precisely monitored and evaluated by Treasury.
In the past year and to date, RBI AG’s excess liquidity was significantly above all regulatory and internal limits (with a few
exceptions in the area of internal sub-limits). The result of the internal time to wall stress test demonstrates that RBI AG would
survive throughout the modelled stress phase of several months even without applying contingency measures.
The results of the going-concern scenario are shown in the following table. It illustrates excess liquidity and the ratio of
expected cash inflows plus the counterbalancing capacity to cash outflows (liquidity ratio) for selected maturities on a
cumulative basis. Based on assumptions employing expert opinions, statistical analyses and country specifics, this calculation
also incorporates estimates of the stability of the customer deposit base, outflows from off-balance sheet items and
downward market movements in relation to positions which influence the liquidity counterbalancing capacity.

in € thousand | 31/12/2025 | 31/12/2024
Maturity | 1 month | 1 year | 1 month | 1 year
Liquidity gap | 9,344,507 | 11,044,396 | 11,610,973 | 12,894,391
Liquidity ratio | 122% | 114% | 125% | 116%

Liquidity coverage ratio (LCR)
The liquidity coverage ratio (LCR) requires the short-term resilience of banks by ensuring that they have an adequate stock of
unencumbered high-quality liquid assets (HQLA) to meet potential liability run offs that might occur in a crisis, which can be
converted into cash to meet the liquidity needs for a minimum of 30 calendar days in a liquidity stress scenario.
The calculation of the expected cash inflows and outflows of funds and the HQLAs is based on regulatory guidelines. The
regulatory limit for the LCR is 100 per cent.

in € thousand | 31/12/2025 | 31/12/2024
Average liquid assets | 19,353,838 | 18,836,725
Net outflows | 12,365,957 | 10,522,081
Inflows | 7,290,083 | 10,275,099
Outflows | 19,656,040 | 20,797,180
Liquidity Coverage Ratio | 157% | 179%

Net Stable Funding Ratio (NSFR)
The NSFR is defined as the ratio of available stable funding to required stable funding. Available stable funding is defined as
that portion of equity and debt which is expected to be a reliable source of funds over the time horizon of one year covered by
the NSFR. A bank’s required stable funding depends on the liquidity characteristics and residual maturities of the various assets
held and of off-balance sheet positions.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
634 Management report
RBI AG targets a balanced funding position.

in € thousand | 31/12/2025 | 31/12/2024
Required stable funding | 38,332,665 | 38,090,243
Available stable funding | 44,945,044 | 44,944,826
Net Stable Funding Ratio | 117% | 118%

Operational risk
Operational risk is defined as the risk of losses resulting from inadequate or failed internal processes, people and systems or
from external events, including legal risks, model risks or information and communication technology (ICT) risks, but excluding
strategic and reputational risks. In this risk category internal risk drivers such as unauthorized activities, fraud or theft,
conduct-related losses, modelling errors, execution and process errors, or business disruption and system failures are
managed. External factors such as damage to physical assets or fraud are managed and controlled as well.
This risk category is analyzed and managed based on RBI AG’s own historical loss data and the results of risk assessment. As
with other risk types the principle of firewalling of risk management and risk controlling is also applied to operational risk at
RBI AG. To this end, individuals are designated and trained as Operational Risk Managers for each division. Operational Risk
Managers provide central Operational Risk Controlling with reports on risk assessments, loss events, indicators and measures.
They are supported in their work by Dedicated Operational Risk Specialists (DORS).
Operational risk controlling units are responsible for reporting, implementing the framework, developing control measures and
monitoring compliance with requirements. Within the framework of the annual risk management cycle, they also coordinate
the participation of the relevant second line of defense departments (Financial Crime Management, Compliance, Insurance
Management, Information Security, Physical Security, Business Continuity Management, Internal Control System, Technology
Risk Management) and all first line of defense contacts (Operational Risk Managers).
Risk identification
Identifying and evaluating risks that might endanger the bank’s existence (but the occurrence of which is highly improbable)
and areas where losses are more likely to arise more frequently (but have only limited impact) are important aspects of
operational risk management.
Operational risk assessment is executed in a structured manner according to risk categories such as business processes and
event types. Moreover, risk assessment applies to new products as well. The impact of high probability/low impact events and
low probability/high impact events is measured over a one-year and a ten-year horizon. Low probability/high impact events
are quantified on the basis of scenarios. The internal risk profile, losses arising and external changes determine which cases
are dealt with in detail. In addition, scenario analyses for focus topics such as ESG, model risks or cyber risks are specified via
the Group.
Monitoring
In order to monitor operational risks, early warning indicators are used that allow prompt identification and minimization of
losses.
Loss data is collected in a central database called Archer (an overall non-financial risk platform) in a structured manner
according to the event type and the business line. In addition to the requirements for internal and external reporting,
information on loss events is exchanged with international data pools to further develop operational risk management tools as
well as to track measures and control effectiveness. Since 2010, RBI AG has been a participant in the ORX data pool
(Operational Risk Data Exchange Association), whose data are currently used for internal benchmark purposes and analyses
and as part of the operational risk model. The ORX data consortium is an association of banks and insurance groups for
statistical purposes. The results of the analyses as well as events resulting from operational risks are reported in a
comprehensive manner to the relevant Operational Risk Management Committee on a regular basis.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 635
Quantification and mitigation
At year-end 2025, the equity requirement for operational risk was calculated using the Business Indicator Components (BIC)
method, based on the new approach according to CRR/Basel IV. Due to the size of the underlying business indicator (BI), the
relevant formula for a medium-sized bank is applied for RBI AG.
The economic capital is based on an internal model with the input factors from the external and internal loss events and the
group-wide scenarios. Risk-based management is carried out with the allocation on the basis of the input factors of the
corresponding units and operating income for stabilization. The implementation of these high qualitative standards has
already been rolled out in broad sections of the Group.
To reduce operational risk, business managers decide on preventive risk reduction actions such as risk mitigation or risk
transfer. The progress and effectiveness of these actions is monitored by Risk Control. The former also define contingency
plans and nominate responsible persons or departments for initiating the defined actions if losses in fact occur. In addition,
several dedicated organizational units provide support to business units for preventing operational risks. An important role in
connection with operational risk activities is taken on by Financial Crime Management and by Technology Risk Management.
Financial Crime Management provides support for the prevention and identification of fraud. Technology Risk Management
has an important role in defining and monitoring IT risks. RBI AG also organizes regular extensive staff training programs and
has a range of contingency plans and back-up systems in place.
Loss data per category of operational risk for RBI AG is distributed across the Basel risk categories as follows, but do not
include any loss events that are already reflected in the credit risk provisions:

in € thousand | 31/12/2025 | Share | 31/12/2024 | Share
Clients, Products and Business Practices | 373,904 | 99.0% | 732,676 | 99.1%
Excecution, Delivery and Process Management | 2,923 | 0.8% | 5,080 | 0.7%
External Fraud | 633 | 0.2% | 1,653 | 0.2%
Employment Practices and Workplace Safety | 134 | 0.0% | 100 | 0.0%
Technology and Infrastructure Failures | 50 | 0.0% | 41 | 0.0%
Disasters and Public Safety | 0 | 0.0% | 0 | 0.0%
Total | 377,644 | 100.0% | 739,549 | 100.0%

In 2025, the external reporting for calculating operational losses was aggregated as follows based on the causal relationship. A
group of individual events with a related cause is counted as one event (parent event) and the total loss amount of this group
(sum of all effects/bookings which belong to the group) is assigned to the parent event.

Number of OpRisk events | 31/12/2025 | Share | 31/12/2024 | Share
External Fraud | 351 | 45.8% | 940 | 76.9%
Excecution, Delivery and Process Management | 406 | 53.0% | 272 | 22.3%
Clients, Products and Business Practices | 5 | 0.7% | 5 | 0.4%
Technology and Infrastructure Failures | 2 | 0.3% | 3 | 0.2%
Employment Practices and Workplace Safety | 2 | 0.3% | 2 | 0.2%
Disasters and Public Safety | 0 | 0.0% | 0 | 0.0%
Total | 766 | 100.0% | 1,222 | 100.0%

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
636 Management report
· Internal control and risk
management system in
relation to the accounting
process
Introduction
The establishment and definition of a suitable internal control and risk management system with regard to the accounting
process is extremely significant for RBI AG. The Finance Services Banking department, which is part of Group Accounting and is
located in the CFO unit under the CEO, prepares and coordinates the annual financial statements of RBI AG. The foreign
branches deliver financial statements to the head office. They themselves are responsible for preparing the financial
statements, taking into account the applicable UGB/BWG accounting manual of RBI AG.
The annual financial statements are prepared on the basis of the relevant Austrian laws, above all the Austrian Banking Act
(BWG) and the Austrian Commercial Code (UGB), which deal with the preparation of annual financial statements.
RBI AG’s general ledger is maintained in SAP S4 HANA. The GEBOS core banking system fulfills important sub-ledger functions
such as credit and deposit processing, and clearing, settlement and payment services. Other sub-ledgers exist in addition to
GEBOS, including in particular:
· Wall Street Systems and Murex (Treasury transactions)
· GEOS and GEOS Nostro (securities settlement and nostro securities management)
· VEGA (Certificates and Equity-Trading)
· Clearing, settlement and foreign payment services
· Trade finance (guarantees and letters of credit)
· SERNOVA (stock exchange traded securities derivatives)
· ARTS/SE4 (Repo and lending business)
· SAP sub-ledgers (accounts receivable/accounts payable/fixed asset accounting)
· FineVare (loan loss provisioning)
· Cognos Controller for preparing the consolidated financial statements of RBI AG including branches
The accounting process can be described as follows:
· Day-to-day accounting
Day-to-day accounting records of business transactions are mainly posted to the respective integrated subledgers. The
relevant accounting data is directly and automatically transferred to the general ledger. In addition, individual postings are
recorded directly in the SAP general ledger.
The SAP general ledger has multi-GAAP functionality, meaning two equivalent general ledgers are maintained in parallel: one in
accordance with UGB/BWG reporting standards and also a parallel ledger in accordance with IFRS. An operational chart of
accounts exists for both of the general ledgers; depending on the respective content, all postings are effected either in both
general ledgers simultaneously or only in one of the two. The parallelism of the entries and existence of the two parallel
general ledgers removes the need for reconciliation from UGB/BWG to IFRS.
· Individual financial statements for RBI head office in accordance with UGB/BWG
The SAP trial balance in accordance with UGB/BWG results from the posting data of the respective subsystems of the banking
operations which is delivered via automated interfaces. In addition, supplementary ledger-specific closing entries are made
directly in SAP. These are independent of the respective subsystems. The sum of all these entries gives the statement of
financial position and the income statement pursuant to UGB/BWG for RBI’s head office excluding branches.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 637
· Individual financial statements of RBI AG
In a final step, the financial statements of RBI AG in accordance with UGB/BWG are produced. These include head office and
also the branches. Both the branch data and the closing data of head office are provided by automated transfer from the
accounting systems into the IBM Cognos Controller consolidation system. The data are consolidated in this system, on the
basis of which RBI AG’s individual financial statements are prepared.
Control environment
In general, all Group-internal instructions can be retrieved from the Group Internal Law Database. With regard to accounting,
mention should be made above all of the Group Accounts Manual, which contains a description of the following points in
particular:
· Accounting rules for general and special transactions
· Measurement methods
· Required (quantitative) information in the notes
Further guidelines relate solely to RBI AG or only deal with functions within departments. The Corporate Directive Accounting
Guidelines for example apply to the accounting system. These deal with the instruction process for the settlement of purchase
invoices, cost refunds and the management of clearing accounts. Regulations in connection with bookkeeping and accounting
within the framework of the separate financial statements according to the Austrian Commercial Code/Austrian Banking Act
are set out in the UGB/BWG Accounting Manual.
Risk assessment
The assessment of the risk of incorrect financial reporting is based on various criteria taking into account appropriate
escalation mechanisms. Valuations of complex financial instruments may lead to an increased risk of error. In addition, asset
and liability items have to be valued for the preparation of the annual financial statements; in particular the assessment of the
impairment of receivables, securities and participations, which are based on estimates of future developments, gives rise to a
risk.
Control measures
The control measures encompass a wide range of reconciliation processes, notably the reconciliation between the general
ledger in SAP and the sub-ledgers. Besides the four eyes principle, automation-aided controls and monitoring instruments
dependent on risk levels are used, such as the reconciliation between accounting and balance sheet risk management. The
duties assigned to individual positions are documented and updated on an ongoing basis. Particular emphasis is placed on
effective deputizing arrangements to ensure that deadlines are not missed due to the absence of one person. The controls in
the core processes are important for the financial statements process. These primarily involve measurement-related
processes whose results have a significant influence on the financial statements (e.g. loan loss provisioning, derivatives, equity
participations, personnel provisions, market risk).
The Audit Committee of the Supervisory Board considers the annual financial statements and the management report, which
are also approved and adopted by the Supervisory Board in accordance with § 96(4) of the Austrian Stock Corporation Act
(AktG). They are published via the online platform Verlautbarungs- und Informationsplattform (EVI) and filed with the
commercial register.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
638 Management report
Information and communication
Information on the accounting treatment of the respective products is regularly exchanged with the specialist departments.
For example, regular monthly meetings take place with the Capital Markets and Treasury departments, in which among other
topics accounting for complex products is addressed. Accounting experts for banking products are also represented at
regularly scheduled jour-fixe meetings during the product launch process in order to provide information on the technical
aspects of accounting and their implications for product launches. Regular department events ensure that employees receive
ongoing training on changes to accounting rules under UGB, BWG and IFRS.
As part of the reporting process, the Management Board receives monthly and quarterly reports analyzing the results of RBI
AG. The Supervisory Board is also regularly informed about the results at its meetings.
RBI yearly publishes the annual report. During the year external reports are available quarterly for the consolidated results of
RBI AG. The reporting cycle is quarterly: besides the consolidated financial statements, a semi-annual financial report and
interim quarterly reports for the Group are published. In addition, reports have to be regularly provided to the banking
supervisory authority.
Monitoring
Financial reporting is an important part of the ICS, in which the accounting processes are subject to additional monitoring and
control, the results of which are presented to the Management Board and Supervisory Board. The Audit Committee is also
responsible for monitoring the accounting process. The Management Board is responsible for ongoing company-wide
monitoring. In accordance with the target operating model, three successive lines of defense are in place to meet the
increased requirements for internal control systems.
The first line of defense is formed by the individual departments, where department heads are responsible for monitoring their
business areas. Controls and plausibility checks are conducted on a regular basis within the departments, in accordance with
the documented processes.
The second line of defense is provided by issue-specific specialist areas. These include, for example, Compliance, Data Quality
Governance, Operational Risk Controlling or Security & Business Continuity Management. Their primary aim is to support the
individual departments when carrying out control steps, to validate the actual controls and to introduce state-of-the-art
practices within the organization.
Internal audits are the third line of defense in the monitoring process. Responsibility for auditing lies with Group Internal Audit
at RBI AG. All internal auditing activities are subject to the Group Audit standards, which are based on the Austrian Financial
Market Authority’s minimum internal auditing requirements and international best practices. Group Audit’s internal rules are
additionally applicable (notably the Audit Charter). Group Audit regularly and independently verifies compliance with the
internal rules within the RBI Group units. The head of Group Internal Audit reports directly to the Management Board.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 639
· O utlook
Economic outlook
Economic trends in the euro area in 2026 are expected to slightly accelerate. Growth is expected to be somewhat more
balanced across industries and countries. Manufacturing is likely to emerge from the recession and thereby catch up
somewhat with the service sector. Differences among the countries should also diminish, although Austria is likely to remain
among the worst performers in the euro area in 2026. While US tariffs are dampening exports, economic activity is being
supported by higher defense spending, German infrastructure investments and the latest ECB rate cuts. The ECB is expected to
keep the deposit rate unchanged, while the US Federal Reserve is likely to continue lowering interest rates. There is a risk that
the US Federal Reserve might overshoot its target somewhat for political reasons. Trade barriers are likely to continue exerting
pressure on global commerce in 2026, although trade disputes are not expected to escalate significantly. Despite initial hopes
sparked by Trump’s peace efforts at the beginning of his presidency, a swift end to the war in Ukraine remains unlikely. Russia
appears to be playing for time as the negative effects of sanctions are becoming increasingly evident. In general, the
geopolitical environment remains challenging, which is reflected in a higher degree of uncertainty in forecasts.
Growth in Central Europe (CE) is expected to accelerate modestly in 2026. However, fiscal consolidation in Hungary, Poland
and Slovakia poses a risk to growth and is likely to emerge as a key issue for the current year. A robust labor market and
continued strong wage growth (albeit at a slower pace) remain positive factors for consumption. While the geopolitical
backdrop is likely to remain challenging, there is hope that Germany’s investment package and EU defense spending could
provide a stimulus that might ease fiscal pressures. EU funds are expected to continue driving investment in 2026 (except in
Hungary). Growth is expected to be strongest in Poland, which is benefiting from the delayed disbursement of EU funds. The
Czech Republic is likely to remain resilient, whereas Slovakia and Hungary face the largest downside risks.
Growth should remain solid in most economies in Southeastern Europe (SEE) in 2026. Expansion is expected to be driven
primarily by consumption, supported by robust wage growth amid tight labor markets, and by investment, including projects
associated with the EU’s Western Balkans enlargement. Romania is expected to remain the laggard in the region due to long-
overdue fiscal consolidation. Although the risk of sanctions against Serbia has recently decreased, uncertainty surrounding
possible new elections and the political environment is creating downside risks for the investment-driven growth model.
Ongoing attacks on civilian targets and energy infrastructure pose significant challenges for Ukraine. Compounding the
situation is the risk presented by the US’s changing stance on providing support. Even so, the economy is expected to remain
resilient in the fifth year of the war. Reconstruction efforts and the adaptability of Ukrainian businesses should persist. In
addition, there are impulses from the war economy and support for consumption from rising wages due to tight labor markets.
The Russian economy is expected to continue cooling in 2026, keeping the country on a low-growth trajectory. Additional
sanctions imposed by Trump and heightened pressure on importers of Russian oil represent downside risks. Nevertheless, the
Russian economy is still assumed to be headed for a soft landing. Easing inflation should give the central bank room to cut
interest rates.
Austria’s growth rate is expected to pick up slightly in 2026; however, at an estimated 1.0 per cent, its growth will still likely fall
behind that of the euro area. Private consumption is expected to provide momentum, while investment is assumed to offer
only limited support. Manufacturing is likely to expand moderately, though pricing competitiveness, which declined sharply in
prior years, is anticipated to reduce the pace. For the construction sector, however, a continuation of the recession cannot be
ruled out. Inflation is expected to be down significantly year on year due to the elimination of energy-related base effects that
drove up inflation in the previous year.
Banking sector in Austria
The decline in interest rates left its mark on both loan growth and the profitability of Austrian banks in 2025. Positive demand
for residential construction loans throughout 2025, along with rising demand in the corporate segment toward year-end,
points to a partial, ongoing recovery in lending in 2026. Stronger growth (p.a.) is expected in residential construction loans,
whereas growth rates (p.a.) in the corporate segment are likely to remain subdued given the macroeconomic outlook.
Household loan portfolios (including residential construction) are expected to maintain a very solid performance (NPL ratio),
while corporate loan portfolios and their asset quality remain a key focus for the banking sector. Corporate loan segments in
the commercial real estate sector and SME segments are particularly likely to drive elevated risk costs again in 2026. Expected
interest rates could increase margin and cost pressure over the course of 2026 and, together with the aforementioned risk
costs, affect profitability. That said, a generally steeper yield curve should provide some support for profitability. On balance,
the Austrian banking sector appears fundamentally well positioned to master the challenges ahead.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
640 Management report
CEE banking sector
A solid private consumption trend and stabilized interest rates should benefit the retail lending business, though growth will
likely weaken somewhat from its relatively high level in 2025. At the same time, the potential for additional macroprudential
tightening (such as extra capital buffers or borrower-based measures) should be factored in since central banks may seek to
limit excessive credit expansion in certain products. For example, the positive trajectory in residential construction lending has
already contributed to rising residential real estate prices (particularly in Hungary, Croatia, Slovakia, and the Czech Republic).
This trend could continue in 2026, both nominally and in real terms. In the corporate segment, loan volumes are expected to be
somewhat supported by a moderate investment recovery. This recovery, in turn, will likely be driven by the ongoing inflow of EU
funds and potential positive spillover effects from Germany’s investment package. Poland is likely to stand out particularly
positively in this context with near double-digit growth in corporate loans. In the larger CE/SEE markets, country-specific risks
(notably in Hungary and Romania) are expected to impede a broader catch-up process and will also shape asset quality trends.
Net interest margins are expected to stabilize in 2026, with positive effects on earnings, while banks will continue to grapple
with inflation-driven cost pressures and special bank taxes, including planned increases in Poland, Hungary and Romania.
RBI AG’s outlook for 2026
RBI AG anticipates interest rate trends to diverge across its main currencies, the EUR and USD, in 2026. Euro area interest rates
are expected to remain stable at year-end 2025 levels for the 2026 to 2028 period. In the USD area, interest rates are projected
to continue their general downward trend through 2026 before following a flat trajectory through 2028. In 2026, growth
forecasts stand at 1.5 per cent for the euro area and 1.0 per cent for Austria. Euro area growth rates are projected to improve
slightly in 2027 and 2028, while Austria’s growth is expected to remain steady at 1.0 per cent over the same period. Inflation is
forecast to decline further across both the euro area and Austria.
In the corporate customer business, euro area interest rates are – as noted above – anticipated to remain stable in 2026, while
interest margins in the deposit business will likely shrink slightly. Corporate loan margins are projected to remain stable.
The anticipated slight growth in average customer loan volumes is likely to bolster interest income. RBI AG also forecasts net
fee and commission income to grow moderately until 2028, driven by stronger customer demand and intensified cross-selling.
Operating expenses are expected to remain below the rate of inflation. Cautious investment activity is also expected.
The risk costs are based on expected loss levels, macroeconomic assumptions and risk model forecasts. The sanctions and
compliance risk for Russia is closely monitored for all transactions. The volume of cross-border Russia-related business is
expected to continue to decrease.
Regarding the provisions for foreign currency loans in Poland, RBI AG expects a significant decline in these provisions in 2026
and a continued downward trend in 2027 and 2028 as the number of pending court cases decreases.
Russia
RBI AG holds a 100 per cent direct stake in AO Raiffeisenbank, Moscow. Significant events of the financial year that influence
the outlook for future periods in this context are presented below.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Management report 641
Business reduction
RBI continued to reduce its business in Russia. Since the start of the war, the loan volume in local currency has been reduced by
60 per cent, while deposit volume has decreased by 40 per cent. Clearing, settlement and payment services have also been
considerably reduced: the international clearing, settlement and payment services business out of Russia are only offered to a
limited extent. AO Raiffeisenbank does not pay interest on customer deposits in order to keep them as low as possible. At the
same time, AO Raiffeisenbank is obliged to invest liquidity with the Russian central bank at the key interest rate (in 2025, this
averaged 19 per cent), which accounted for over 70 per cent of net interest income in Russia.
Rasperia
In January 2025, STRABAG SE and its Austrian core shareholders were ordered by the arbitration court of the Kaliningrad region
to pay damages of € 2,044 million, which can be enforced against AO Raiffeisenbank’s assets. The damages awarded to
Rasperia Trading Limited (Rasperia) in the amount of € 2,109 million (including interest) were withheld from AO Raiffeisenbank’s
correspondent account by the Russian Central Bank in the first half of the year, resulting in an expense of € 1,269 million
(including interest) and the usage of the provision of € 840 million recognized in the previous year.
On 18 December, 2025, the arbitration court of the Kaliningrad region announced its ruling in a second legal dispute between
Rasperia and STRABAG SE and its Austrian core shareholders. The court ruled that STRABAG SE and its Austrian core
shareholders are obliged to pay € 339 million to Rasperia, which can be enforced against AO Raiffeisenbank’s assets. An appeal
with suspensive effect has been lodged against this ruling. AO Raiffeisenbank recognized a provision of € 339 million in
December 2025.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Statement of the board of Management pursuant to § 82 (4) Z 3 Austrian Stock Exchange Act 642
Statement of all legal
representatives
pursuant to § 124 (1) Z
3 Austrian Stock
Exchange Act
We confirm to the best of our knowledge that the financial statement give a true and fair view of the assets, liabilities, finan-
cial positions and profit or loss of the company as required by the applicable accounting standards and that the management
report gives a true and fair view of the development and performance of the business and the position of the company, to-
gether with a description of the principal risks and uncertainties the company faces.
Signed by:
Vienna, 17 February 2026
The Management Board

Johann Strobl m.p. Chairman of the Board, CEO | Marie-Valerie Brunner m.p. Member of the Board, CIB Customer Coverage and CIB Products & Solutions
Andreas Gschwenter m.p. Member of the Board, COO/CIO | Kamila Makhmudova m.p. Member of the Board, CFO
Hannes Mösenbacher m.p. Member of the Board, CRO | Andrii Stepanenko m.p. Member of the Board, Retail Banking

· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Independent Auditor’s Report 643
Independent Auditor’s
Report
Report on the Audit of the Financial Statements
Opi nion
We have audited the accompanying annual financial statements of Raiffeisen Bank International AG, Vienna, (“Company” or
“Bank”) which comprise the statement of financial position as at 31 December 2025, the income statement for the financial
year the ended, and notes to the financial statements.
In our opinion, the financial statements comply with legal requirements and give a true and fair view of the financial position of
the Company as at 31 December 2025, and its financial performance for the year then ended in accordance with Austrian
Generally Accepted Accounting Principles and the Austrian Banking Act.
Basis for Opinion
We conducted our audit in accordance with Regulation (EU) No. 537/2014 and with the Austrian Generally Accepted Auditing
Standards. Those standards require the application of the International Standards on Auditing (ISAs). Our responsibilities under
those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the Company in accordance with laws and regulations applicable in Austria and we have
fulfilled our other professional responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained up to the date of our report is sufficient and appropriate to provide a basis for our opinion as of that date.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the financial statements in a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
The following matters were of most significance to our audit:
1. Recoverability of loans and advances to customers
2. Recoverability of shares in affiliated undertakings
3. Adequacy of “provisions” for foreign currency loans of the branch in Poland
1. Recoverability of loans and advances to customers
Description and Issue
Loans and advances to customers are reported with an amount of EUR 28.2 billion after deduction of valuation allowances.
They mostly are loans and advances to Austrian and international non-financial corporations and to a lower extent retail
customers in the Polish branch.
The Bank describes the process for monitoring credit risk and the procedure for determining credit losses in the section
“Recognition and measurement principles” of the notes to the financial statements and in section “Credit Risk” of the Risk
Report in the Management Report.
Calculations of loan loss provisions for defaulted loans to Austrian and international non-financial corporations are based on
losses determined based on different weighted scenarios. These depend on the assessment of the economic situation and
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
644 Independent Auditor’s Report
developments of the respective customer, the valuation of collateral and the estimate of the amount and timing of the
recoveries derived from these.
Individual loan loss provisions for defaulted retail customer loans and general loan loss provisions for loans and advances for
which no default has been identified are based on models with statistical assumptions, which are used to estimate the
expected credit loss. The Bank uses the methodology of IFRS 9 to determine expected credit losses (12 months expected credit
loss or, if the credit risk has increased significantly since initial recognition – lifetime expected credit loss).
Significant estimates and assumptions are required in determining the expected credit loss. These include rating-based
probabilities of default, the expected development of the outstanding amount at the time of default and loss rates. The
estimates take into account current and forward-looking information.
If the input parameter, assumptions, and models used do not cover all relevant risk factors, the bank temporarily uses
management-overlays. The calculation of expected credit losses and the additional provisions from management-overlays are
based on assumptions and estimates that give rise to significant uncertainties with regard to the amount of the expected
credit losses. Therefore, we have determined the recoverability of loans and advances to customers as a key audit matter.
Our response
In testing expected credit losses for loans and advances to customers, we performed the following key audit procedures:
• We assessed the methodologies used to determine expected credit losses and their compliance with the Austrian
Generally Accepted Accounting Principles and those of the Austrian Banking Act.
• We analyzed the documentation of the processes of monitoring loans and risk provisioning, and critically assessed
whether these processes are suitable for identifying loan losses and adequately reflecting the recoverability of
exposures. We also assessed the processes and tested key controls regarding their design and implementation,
including the relevant IT systems, and tested their effectiveness on a sample basis.
• By performing analytical audit procedures, we examined changes of loans and advances with regard to the main
characteristics relevant for the categorisation of the loans, such as quality, type of supervision, rating and level
allocation as well as the development of risk provisions at customer and portfolio level throughout the year and in
comparison with the previous year.
• We tested individual exposures selected on the basis of a sample determined according to selected risk criteria: For
defaulted loans, we assessed the Bank's estimates of the amount and timing of recoveries, taking into account
collateral, and examined whether the assumptions used in the calculation were appropriate and derived from
internal or external evidence. For non-defaulted loans, we examined whether indicators of default exist.
• In order to assess the appropriateness of the expected credit losses for non-defaulted loans, we examined the
plausibility of assumptions and the appropriateness of the models used, as well as the proper application of the
models, with the assistance of specialists. In particular, we examined the assumptions in connection with forward-
looking information and management-overlays. Furthermore, we examined the appropriateness of the assumptions
“probability of default”, “loss given default” and the staging model, taking into account the results of the bank's
internal validations, and reperformed selected calculation steps. In addition, IT specialists tested the effectiveness of
key automated controls of the IT systems relevant for these calculations.
• Finally, we assessed whether the disclosures in the notes to the financial statements regarding the calculation of
expected credit losses and the significant assumptions and estimation uncertainties are appropriate.
2. Recoverability of shares in affiliated undertakings
Description and Issue
Shares in affiliated undertakings represent a significant balance sheet item at Raiffeisen Bank International AG with a total
amount of approximately EUR 9.2 billion. The Bank holds interests, often via holding companies, in particular in domestic and
foreign credit institutions as well as in finance and project companies.
The Management Board describes the procedures for permanent impairment testing for shares in affiliated undertakings in
the section “Recognition and Measurement Principles” in the notes.
The Bank reviews whether there are triggers for an impairment or whether a reversal of a previous impairment is required.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Independent Auditor’s Report 645
Partly internal and partly external valuations are used to determine the recoverable amount. The valuations are based on
assumptions and estimates regarding future business development and resulting returns to owners. The expected business
performance is usually based on the budgeted figures approved by the corporate bodies of the respective companies. The
discount rates used are derived from the financial and capital markets.
The parameter used in these calculations are based on assumptions that are subject to a high degree of uncertainty. Changes
in these assumptions may lead to significantly different results. Due to the sensitivity of the valuation results and the high
degree of discretion in the assumptions, we have identified the valuation of shares in affiliated undertakings as a key audit
matter.
Our response
In auditing the valuation of shares in affiliated undertakings, we performed the following key audit procedures:
• We analyzed the processes for monitoring and valuation of shares in affiliated undertakings and critically assessed
whether these processes are suitable for identifying necessary impairments or reversals of impairments and
appropriately reflecting the recoverability of the shares.
• We reviewed the valuation models used, and – based on risk-based samples - the key planning assumptions and the
valuation parameter. We evaluated the planning and valuation parameter for selected valuations, based on external
market data and historical data. We assessed the appropriateness of the interest rate parameter by comparing
them with market- and industry-specific benchmarks and compared the cash flows used in the valuation model
with the approved plans. The mathematical correctness of the valuations was verified on a sample basis.
• Finally, we assessed whether the disclosures in the notes to the financial statements on the determination of an
impairment of shares in affiliated undertakings are appropriate
3. Adequacy of “provisions” for foreign currency loans of the branch in Poland
Description and Issue
As at 31 December 2025, the Bank has recorded “provisions” (partly in form of an accounting provision, partly as a deduction
from carrying value) in connection with foreign currency loans of the branch in Poland in the amount of EUR 1.956 million.
The Bank describes the legal risks, the procedure for determining the “provision” and related uncertainties in the chapter
“Litigation risk for foreign currency loans in Poland” of the notes to the financial statements.
In connection with the necessary assumptions about the future behavior of borrowers and former borrowers, court decisions,
and the duration of proceedings, there are considerable estimation uncertainties and scope for judgement in determining
“provision”. Thus, we have determined the adequacy of the “provision” for foreign currency loans of the branch in Poland to be
a key audit matter.
Our Response
In particular, we performed the following audit procedures in testing the adequacy of the “provision”:
• We assessed the Bank's processes and controls for determining the “provision”, and their suitability for ensuring the
determination of an appropriate “provision”.
• We verified the plausibility and critically assessed the Bank's method for determining the “provision”, including the
derivation of the underlying assumptions and their appropriateness.
• We verified the mathematical accuracy of the Bank's calculations.
• We obtained information from the lawyers engaged by the Bank for this subject matter and critically assessed this
information.
• We reviewed the disclosure of the risks in the notes to the financial statements for appropriateness.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
646 Independent Auditor’s Report
Other Information
Management is responsible for the other information. The other information comprises all information in the Annual Financial
Report, but does not include the financial statements, the management report and our auditor’s report thereon.
Our audit opinion on the financial statements does not cover the other information, and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the audit, or otherwise appears to be misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.
Responsibilities of Management and the Audit Committee for the Financial Statements
Management is responsible for the preparation of the financial statements that give a true and fair view of the financial
position of the Company, and of its financial performance in accordance with Austrian Generally Accepted Accounting
Principles and the Austrian Banking Act, and for such internal control as management determines is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The audit committee is responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance
is a high level of assurance but is not a guarantee that an audit conducted in accordance with the Regulation (EU) No 537/2014
and with Austrian Generally Accepted Auditing Standards, which require the application of the ISAs, will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
As part of an audit in accordance with Regulation (EU) No 537/2014 and with Austrian Generally Accepted Auditing Standards,
which require the application of the ISAs, we exercise professional judgement and maintain professional skepticism throughout
the audit.
We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
Independent Auditor’s Report 647
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements
or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to
cease to continue as a going concern.
• Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that gives a true
and fair view.
• Plan and perform the audit to obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Company to be able to give an opinion on the financial statements. We are
responsible for the direction, supervision and performance of the audit. We remain responsible for our audit opinion.
We communicate with the audit committee regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide the audit committee with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on
our independence, and where applicable, related safeguards.
From the matters communicated with the audit committee, we determine those matters that were of most significance in the
audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in
our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Other statutory and legal requirements
Report on the Audit of the Management Report
Pursuant to statutory provisions, the management report is to be audited as to whether it is consistent with the financial
statements and whether it has been prepared in accordance with the applicable legal requirements.
Management is responsible for the preparation of the management report in accordance with the Austrian Commercial Code.
We conducted our audit in accordance with laws and regulations applicable with respect to the management report.
Opinion
In our opinion, the management report is prepared in accordance with the applicable legal requirements, includes appropriate
disclosures according to section 243a UGB, and is consistent with the financial statements.
Statement
In the light of the knowledge and understanding of the Company and its environment obtained in the course of our audit of the
financial statements, we have not identified material misstatements in the management report.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025
648 Independent Auditor’s Report
Other Matters according to Article 10 of Regulation (EU) No 537/2014
We were appointed as auditor by the shareholders’ meeting on 4 April 2024 and commissioned by the supervisory board on 17
April 2024 to audit the financial statements for the financial year ending 31 December 2025. In addition, we were appointed as
auditor for the following financial year by the shareholders’ meeting on 26 March 2025 and commissioned by the supervisory
board on 27 March 2025 to audit the financial statements. We have been the auditor, without interruption since the financial
year ending 31 December 2021.
We confirm that our opinion in the section "Report on the Audit of the Financial Statements" is consistent with the additional
report to the audit committee referred to in article 11 of Regulation (EU) No 537/2014.
We declare that we did not provide non-audit services referred to in Article 5 par. 1 of Regulation (EU) No 537/2014 and that we
remained independent from the Company in conducting the audit.
Engagement Partner
The engagement partner responsible for the audit is Peter Bitzyk.
Qualified electronically signed by:
Vienna, 17 February 2026

Deloitte Audit Wirtschaftsprüfungs GmbH
Peter Bitzyk
Certified Public Accountant

Publication or sharing with third parties of the financial statements together with our Auditors' Report is only allowed if the
financial statements and the management report are identical with the audited version. This audit opinion is only applicable to
the German and complete financial statements with the management report. Section 281 para 2 UGB applies to alternated
versions.
This translation of the Auditor’s Report is for convenience purposes only. Only the German original version is legally valid and
binding.
· Raiffeisen Bank International | Member of RBI Group | Financial Year 2025