[PPT] - 1Q20 Duration of the quarantine and GDP forecasts Impact of PowerPoint Presentation

SLIDE 1 1 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App XNOR

1Q20

GFNORTE GBOOY Best Bank 2019 México

SLIDE 2 2 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Banorte

Duration of the quarantine and GDP forecasts GDP in the year after a leap year

% y/y, difference in basis points

Impact of COVID-19 on GDP and the unemployment rate

% y/y, %

Impact to MSMEs: Percentage of vulnerable businesses under the marginal support scenario

% Final date of the ‘pandemic’ Days under quarantine Current government support Base case Extraordinary support GDP Unemployment GDP Unemployment GDP Unemployment Apr-30 38

4.8

5.9

3.5

5.2 May-31 69

10.7

8.1

7.8

7.2

7.1

6.3 Jun-30 99

18.7

12.5

10.5

6.2 Jul-15 114

23.5

14.0

12.3

6.2 20 40 60 80 27-Apr 17-May 6-Jun 26-Jun 16-Jul 6.8

0.4

2.3

5.3

1.4 2.1 7.1

0.2

2.6

5.0

1.6 2.4

25.5
25.0
24.2
24.7
24.3
26.2
27
26
25
24
23
8
4

4 8 1997 2001 2005 2009 2013 2017 NSA series (LHS) Calendar-adjusted series (LHS) Difference in bps (RHS)

SLIDE 3 3 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: INEGI, Banorte

We are experiencing the worst recession in the last 40 years GDP in Mexico during economic contractions

% y/y

GDP in 1983

% y/y

GDP in 2009

% y/y

GDP in 1995

% y/y

GDP in 2020f

% y/y

7.8
5.3
0.4
6.3
3.7
4.4
10
5

2020 2009 2001 1995 1986 1983

4.6
5.7
5.3
1.8
20
15
10
5

1Q83 2Q83 3Q83 4Q83

1.5
9.1
7.5
6.9
20
15
10
5

1Q95 2Q95 3Q95 4Q95

5.6
8.9
5.0
1.6
20
15
10
5

1Q09 2Q09 3Q09 4Q09

2.9
16.2
9.7
2.6
20
15
10
5

1Q20 2Q20 3Q20 4Q20

SLIDE 4 4 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Banorte with data from INEGI and Banxico *Interest rate(1980-Sep 1982: CPP; 1982-…: Cetes; Exchange rate: 1980-Nov 1991: ‘para solventar obligaciones en moneda extranjera’; Nov 1991-…: Fix)

However, the great difference to those are inflation levels Nominal governmental interest rate, inflation and annual exchange rate depreciation

%

50

50 100 150 200 250 300 Interest rate Inflation Annual exchange rate depreciation

SLIDE 5 5 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Banorte and Presentation from Beatriz Leycegui (SAI, April 15, 2020) USD/MXN: 24.10 **Nominal GDP in 2019

‘Recovery plan’ to return back to ‘normal’ from COVID-19 Programs from Development Banks

MX$ billion, US$ million, % of GDP ▪ Four-month advance to the senior citizen pension ▪ Support for: ⎯ Fishermen ⎯ Children with disabilities ⎯ Benito Juárez Universities ⎯ Savings for people without access to financial services ⎯ Agriculture ⎯ Upkeep for schools ▪ Programs for: ⎯ Apprenticeships ⎯ Internet for everyone ▪ Guarantee prices ▪ Toluca – Mexico City Train ▪ Construction of branches of El Banco del Bienestar ▪ Recruitment of 31 thousand new elements for the Army, Navy and National Guard ▪ Rural concrete roads ▪ New credits and refinancing from INFONAVIT ▪ ‘Sowing Life’ program will extend to 200 thousand farmers ▪ Expedited returns of VAT to taxpayers ▪ No increase to taxes or adoption of counter-cyclical measures or corporate bailouts to businesses or banks ▪ Elimination of 10 deputy ministries ▪ Reduction of 25% in wages of high-ranking workers (Deputy Director and upwards) and end-of-year bonus elimination ▪ Savings of 75% in general spending and supplies categories Institution Measure MXN USD* % of GDP** Total 61.1 2,535 0.25 BANOBRAS Liquidity support for companies in the infrastructure sector 6.0 249 0.02 NAFIN / BANCOMEXT Liquidity support for "first-floor" financial institutions 10.0 415 0.04 NAFIN / BANCOMEXT Liquidity support for "second-floor" financial institutions 20.0 830 0.08 NAFIN / BANCOMEXT Guarantees program for companies and businesspeople 6.3 261 0.03 SHF Stabilization of syndicated loans provided to construction companies 8.8 365 0.04 SHF Additional financing for "second-floor" bridge loans 6.0 249 0.02 SHF Small loans for housing improvements 2.0 83 0.01 FND Attention scheme for the restructuring of debtors' loans TBD FND Measures to support the Rural Economy TBD Banco del Bienestar Clients' Program 2.0 83 0.01 Banco del Bienestar Outreach Program TBD Banco del Bienestar Reactivation of credit demand TBD FOCIR Extension of the period to divest affected companies TBD FOCIR Suspension of commission payments for the management of FICAS TBD FOCIR Emerging Program "COVID 2020 - FOCIR-SE" TBD

SLIDE 6 6 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Banxico, MoF, CNBV

Policy response from Banxico and financial authorities to provide liquidity… Reference rate

%

Measures announced by Banxico and the MoF to improve liquidity Measures from the Banking Commission and Banxico for financial institutions

6.00 2 3 4 5 6 7 8 9 dic.-15 ene.-17 feb.-18 mar.-19 abr.-20 ▪ Reduction of the Monetary Regulation Deposit by $50 billion (US$3 billion) ▪ Adjustments to the interest rate on the Ordinary Additional Liquidity Facility ▪ US dollar credit auctions (using the Swap line with the Fed as a financing mechanism) ▪ Collaboration with the MoF to strengthen the Primary Dealers Program

Implementation of government securities

swaps

Amendment to the purchase option of

government securities for market makers ▪ Adjustments to the accounting criteria to facilitate the granting of support programs to clients ▪ Flexibility of the regulatory framework for capital and liquidity requirements ▪ Advice to banks to refrain from paying dividends and implementing share buyback programs ▪ Delay of the implementation of international regulations ▪ Extension of deadlines for traded companies to present information to the Commission

SLIDE 7 7 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Banxico

…and strengthen credit channels Additional measures announced by Banxico to promote liquidity and strengthen credit channels

MX$ billion, US$billion, % of GDP # Measure MXN USD % of GDP Total 750 30.7 3.1 1 Increasing liquidity during trading hours to facilitate the optimal functioning of financial markets and payment systems

-
-
-

2 Extending the securities eligible for the Ordinary Additional Liquidity Facility (FLAO, for its acronym in Spanish), foreign exchange hedging program operations, and USD credit operations

-
-
-

3 Extending the counterparts eligible for the Ordinary Additional Liquidity Facility (FLAO, for its acronym in Spanish)

-
-
-

4 Government securities term repurchase window 100 4.1 0.4 5 Temporary securities swap window 100 4.1 0.4 6 Corporate Securities Repurchase Facility (FRTC, for its acronym in Spanish) 100 4.1 0.4 7 Provision of resources to banking institutions to channel credit to micro-, small-, and medium-size enterprises and individuals affected by the COVID-19 pandemic 250 10.2 1.0 8 Collateralized financing facility for commercial banks with corporate loans, to finance micro-, small- and medium-size enterprises 100 4.1 0.4 9 Swaps of government securities 100 4.1 0.4 10 Foreign exchange hedges settled by differences in US dollars with counterparts not domiciled in the country, to be traded during hours when Mexican markets are closed

-
-
-

SLIDE 8 8 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: Bloomberg, INEGI, Banxico, Banorte

MXN forecasts

USD/MXN

Inflation forecasts

% yoy, bi-weekly frequency

Reference rate forecasts

%

USD/MXN, inflation, and reference rate forecasts

25.01 22.63 22.00 23.47 22.85 19.68 21.00 18.5 19.5 20.5 21.5 22.5 23.5 24.5 25.5 26.5 27.5 Jan-19 Dec-19 Dec-20 Dec-21 2018: 4.8 2020: 3.2 2019: 2.8

2
1

1 2 3 4 5 6 7 8 9 Dec-18 Aug-19 Apr-20 Dec-20 Headline Core Non-core 2019: 7.25 2020: 4.75 2 3 4 5 6 7 8 9 Dec-15 Mar-17 Jun-18 Sep-19 Dec-20

SLIDE 9 9 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: MoF

1. GDP: Real annual growth rate; Nominal exchange rate; Public deficit, public debt y and primary balance as a percentage of GDP. *Public Sector Borrowing Requirements (PSBR). **Historical Balance of

Public Sector Borrowing Requirements (HBPSBR)

Preliminary Fiscal Policy Criteria: Macroeconomic and fiscal variables in a very challenging backdrop Fiscal revenues

% of GDP

Macroeconomic framework and fiscal variables1

Selection

Public spending

% of GDP

Public debt**

% of GDP

Stabilization fund and deficit

% of GDP 36 36 37.2 37.2 40 42.6 46.5 48.7 45.8 44.9 44.9 52.1 52.1 51.8 51.5 51.2 45.6 45.4 45.2 45.044.8 20 40 60 2009 2011 2013 2015 2017 2019 2021 2023 Histórico Actual Previo Previous Historical 21

0.4

20.6 19 20 21 22 Approved budget revenues Impact due to lower growth Estimated budget revenues

23.1
1.6
0.6
25.3
27
25
23
21
19
17

Approved budget spending Resources to combat COVID-19 Adjustments Estimated spending

4.7

4.4 0.4

5.0
4.8
4.6
4.4
4.2
4.0

Estimated deficit without FEIP FEIP New estimated deficit 2020 GDP

1.9%

(Previous: 2.0%) USD/MXN: 22.90 (Previous: 20.00) Crude oil price: US$/bbl 24 (Previous: 49) Public deficit*: 4.4% (Previous: 2.6%) Public debt**: 52.1% (Previous: 45.6%) Primary balance

0.4%

(Previous: 0.7%) 2021 GDP 2.5% (Previous: 2.3%) USD/MXN: 21.40 (Previous: 20.10) Crude oil price: US$/bbl 30 (Previous: 52) Public deficit*: 4.0% (Previous: 2.2%) Public debt**: 52.1% (Previous: 45.4%) Primary balance

0.6%

(Previous: 1.0%)

SLIDE 10 10 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Source: INEGI, Bloomberg

2020 GDP forecasts

% yoy

Impact to MSMEs: Percentage of vulnerable businesses under the marginal support scenario

%

Unemployment rate

%, sa 1Q20 2Q20 3Q20 4Q20 2020 GDP (aggregate supply)

2.9
16.2
9.7
2.6
7.8

Primary sector

0.5
2.5
2.4
0.6
1.4

Secondary sector

5.0
21.9
9.1
3.2
9.8

Tertiary sector

2.1
14.2
10.1
2.8
7.3

GDP (aggregate demand)

2.9
16.2
9.7
2.6
7.8

Private consumption

1.3
15.3
8.9
2.5
7.0

Investment

13.3
39.2
17.9
5.2
18.9

Government spending 0.2 2.5

4.1
5.9
1.8

Exports

7.1
29.8
6.2

3.0

10.3

Imports

10.7
34.7
9.2
2.5
14.2

2020 – Strong decline, driven by the COVID-19 outbreak

6.0 3.7 6.1 7.2 8.0 3 4 5 6 7 8 9 Dec-07 Feb-10 Apr-12 Jun-14 Aug-16 Oct-18 Dec-20 Histórico Medidas de apoyo extraordinarias Escenario base Medidas actuales Historical series Extraordinary support from the government Base case Current measures 20 40 60 80 27-Apr 17-May 6-Jun 26-Jun 16-Jul

SLIDE 11 11 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

About Banorte

SLIDE 12 12 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

GFNORTE – a Leading and Profitable Financial Franchise in Mexico

One of the most public companies in Mexico GFNorte is top 5 in trading at BMV, and has the highest Relative Weighting on S&P/BMV IPC Index, rated OTCQX Best 50 Global. float of almost 86% and more than 4,000 investors, including large global institutional funds. Investment grade ratings by S&P, Fitch, Moody's and HR Ratings.

1 2 3

Sound Fundamentals Increasing profitability, solid asset quality, high liquidity and strong capitalization ratios. Adequate business mix Strong retail, wholesale and premium banking platforms, as well as leading insurance and pension fund management units, serving more than 21 million clients. Solid corporate governance Independent Board Members represent 71% of total board composition and best practices in minority shareholder right protection.

SLIDE 13 13 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

From Regional Bank to National Financial Group

20 | 20

Establishment 1899 1982-1992 1995 2000 2005 2010 2015 Privatization  INB  IXE Afin  Afore Bancomer  Banorte Generali 50%  Bancentro Banpaís Bancrecer  Afore XXI IMSS 50%  Banorte-General i100% … Inorganic Growth Regional Bank Business Diversification 2020 Client Segmentation IT: central DB, multichannel Profitability Nationalization  G.F. Interacciones

SLIDE 14 14 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

20/20

Strategy 20 | 20 Perfect Vision

PRODUCTS & SOLUTIONS Deposits & Loans Insurances Pension Annuities Wealth Mngt. … DISTRIBUTION CHANNELS Mobile Internet ATM Contact Center Branches … PROCESSES Account opening - Credit Analisis Next Best Offer – Next Best Action Client Segmentation ▪ 12 million ex-Afore clients 9 million Afore clients ▪ Structured Info & Learning (Central DB & Watson) ▪ Behavior understanding Analitics Cost Revenues Digital Bank

SLIDE 15 15 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Diversified Business Mix

* Includes: Almacenadora Banorte; Ixe Servicios; Fundación Banorte A.B.P. Casa de Bolsa Banorte Banco Mercantil del Norte Sólida Pensiones Banorte Seguros Banorte Banorte Futuro Afore XXI Banorte Operadora de Fondos Banorte (Fondos de Inversión) Other Subsidiaries* Arrendadora y Factoraje Banorte Banorte Ahorro y Previsión 99.7167% 98.2619% 99.9999% 99.9999% 99.9999% 99.9999% 50.0% 97.6711% 99.9999% 98.22% Banorte Financial Services (Uniteller) 100.0% 2.33% 100%

SLIDE 16 16 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Business Mix - Diversified Net Income and Balance in Profitability

1) Without Goodwill: 1q20 =35.4% Net Income Mix Company Net Income 1Q20 ROE 1Q20 Bank 6,072 21.7% Broker Dealer 313 26.0% Long Term Savings 2,327 Retirement Savings (Afore) 325 10.9% Insurance 1,703 90.0% Annuities 284 22.7% Other Finance Companies Leasing & Factoring 203 13.5% Warehousing 10 15.6% Sólida (145) (19.9%) Total 9,118 18.8% 1) 1Q20 $35.3 b

SLIDE 17 17 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App NIM

Net Interest Margin Moving in the Right Direction

NIM (Post-Provision) 3.3% 3.4% 3.4% 3.5% 3.5% 3.7% 4.3% 4.4% 4.5% 4.7% 4.6% 4.8% 4.7% 4.3% 3.0% 3.5% 4.0% 4.5% 5.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q19 2Q19 3Q19 4Q19 1Q20 4.1% 4.1% 4.4% 4.7% 4.5% 4.9% 5.5% 5.6% 5.6% 5.7% 5.7% 5.9% 5.9% 5.6% 4.0% 4.5% 5.0% 5.5% 6.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q19 2Q19 3Q19 4Q19 1Q20 NIM NIM ex Insurance & Annuities

SLIDE 18 18 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Improving Efficiency

Cost to Income 56.0% 54.0% 52.0% 48.5% 47.9% 44.9% 42.8% 40.0% 39.7% 39.4% 38.5% 40.2% 40.6% 38.9% 35% 40% 45% 50% 55% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 1Q19* 2Q19 3Q19 4Q19 1Q20 +13% +5% +10% +13% +5% +4% +4% +7% +11% +19%* Reported 37.0% * Recurring *Recurring +8% +9%* Reported 39.0% 39.1%

SLIDE 19 19 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 8,748 8,728 8,858 9,010 9,118 9,932 8,000 8,500 9,000 9,500 10,000 10,500 1Q19* 2Q19 3Q19 4Q19 1Q20

Strong Net Income

Net Income 8,517 10,888 13,508 15,228 17,108 19,308 23,908 30,311 35,345 31,958 36,528 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 27,500 30,000 32,500 35,000 37,500 2011 2012 2013 2014 2015 2016 2017 2018* 2019* Million Pesos CAGR 2011-2019 +20% 1.2% +4% YoY* +17% YoY * Recurring Reported +14% YoY * Recurring Reported

SLIDE 20 20 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 1.10% 1.30% 1.40% 1.46% 1.47% 1.60% 1.86% 2.07% 2.22% 2.18% 2.20% 2.24% 2.28% 2.21% 2.18% 2.30% 2.47% 1.0% 1.5% 2.0% 2.5% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 1Q19* 2Q19 3Q19 4Q19 1Q20 ROA

Constant Positive Growth in Profitability

ROE 14.1% 14.3% 14.2% 13.2% 13.3% 14.1% 17.0% 19.3% 19.6% 19.9% 19.5% 19.6% 19.0% 18.8% 20.3% 20.1% 22.4% 12% 15% 18% 21% 24% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 1Q19* 2Q19 3Q19 4Q19 1Q20 * Recurring * Recurring Reported: Reported:

SLIDE 21 21 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Digital Transformation

SLIDE 22 22 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 3.50 3.90 4.12 4.21 4.28 1Q19 2Q19 3Q19 4Q19 1Q20

Digital Transformation Gaining Share

41.4 80.5 232.1 50 100 150 200 250 1Q 2017 3Q 1Q 2018 3Q 1Q 2019 3Q 1Q 2020 Transactions Growth

+113%

24% 28% 22% 2% 1% 19% 4% Transactions (Tx) Customers Using Digital (millions) WEB Mobile ATM Call Center Correspondents < POS Branches *

Time Deposits Mutual Funds Credit Card Insurance Digital Deposit Account Payroll loans

Mobile as a Point of Sale

SLIDE 23 23 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Mobile Product Segmentation

Individuals SMEs Corporates

Security / transactional & sales functions (>70)
The born in social media, Banorte Go
CoDi payments
Cash Management
Payments
Services
Credit
Reporting
Security management
Reporting

SLIDE 24 24 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Adapting the Business & Infrastructure to the New Payments Market

Continuous growth on POS’s transactions with emphasis on e-commerce

50.0 100.0 150.0 1Q 2017 3Q 1Q 2018 3Q 1Q 2019 3Q 1Q 2020

POS’s Transactions

Millions

+27%

The best DIGITAL PLATFORM for aggregators CoDi – Test Pilot and further development underway

SLIDE 25 25 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Loans & Deposits

SLIDE 26 26 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Healthy Funding & Loan Portfolio Structure

$818 bn

1Q20

$780 bn Commercial Consumer Mortgage Government Corporate US 34.8 bn Demand Money Market Time Interbank Loans US 33.2 bn

2018

Demand Time Money Market Interbank Loans Consumer Commercial Mortgage Corporate Government

Funding Loan Portfolio

$803 bn $777 bn

SLIDE 27 27 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Demand 66% Time 34% 116 124 129 136 158 168 194 223 229 234 190 211 255 300 351 384 397 414 438 454 306 336 384 436 509 551 590 637 667 688 100 200 300 400 500 600 700 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20 Time Demand Core Deposits 1Q19 1Q20 Demand 394 454 Time 229 234 TOTAL 623 688

Loyal Deposits Base

Demand 62% Time 38% MIX 2013 1Q20 Billion Pesos CAGR: +11% YoY +11% 15% 2% 11% Deposits YoY 15% YoY +2% +12% +10%

SLIDE 28 28 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Continued Growth in Performing Loan Book, Special Focus on Consumer

US 33.2 bn Billion Pesos 1Q19 4Q19 1Q20 QoQ YoY Mortgage 159 170 173 2% 9% Car Loans 25 27 27 2% 10% Credit Cards 37 40 39 (3%) 6% Payroll 53 51 52 1% (2%) Consumer 273 288 291 1% 7% Commercial 173 173 182 6% 5% Corporate 135 128 145 13% 8% Government 181 174 162 (7%) (11%) TOTAL 762 763 780 2% 2% 350 401 425 472 518 567 616 777 763 780 300 400 500 600 700 800 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20 Total Loan Portfolio 99 118 140 158 176 203 241 269 288 291 50 100 150 200 250 300 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20 CAGR: +14% US 12.4 bn CAGR: +10% Consumer Portfolio

SLIDE 29 29 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Credit Cards 6.1% 6.3% 6.0% 5.5% 5.9% 5.9% 6.0% 5.4% 5.8% Payroll 2.9% 3.3% 4.1% 3.7% 3.0% 3.8% 3.4% 3.3% 2.7% Car Loans 0.9% 1.1% 1.1% 1.1% 0.9% 1.0% 1.0% 1.0% 0.9% Mortgage 0.9% 0.9% 1.0% 0.9% 1.0% 1.0% 1.1% 1.1% 1.2% Commercial 2.5% 2.5% 2.2% 1.9% 2.1% 2.4% 2.5% 2.4% 2.3% SME 5.6% 5.5% 6.0% 5.5% 5.9% 6.4% 6.5% 6.6% 7.0% Commercial ex-SME 1.4% 1.5% 1.2% 0.9% 1.1% 1.3% 1.6% 1.3% 1.2% Corporate 3.2% 3.0% 2.9% 2.9% 2.9% 3.0% 2.8% 1.8% 1.8% Government 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Total GFNorte 1.9% 2.0% 1.8% 1.7% 1.7% 1.9% 1.9% 1.7% 1.7% 1.9% 2.1% 3.1% 2.9% 2.2% 1.8% 2.0% 1.7% 1.7% 1.7% 1.0% 2.0% 3.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20

Sound Asset Quality

Past Due Loan Ratio

SLIDE 30 30 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 2.2% 2.3% 2.0% 1.9% 1.9% 2.2% 2.0% 2.2% 1.7% 1.6% 2.2% 2.5% 2.1% 2.4% 2.5% 1.0% 1.5% 2.0% 2.5% 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q19 2Q19 3Q19 4Q19 1Q20 Actual

Prev. Criteria

143% 138% 105% 107% 116% 139% 129% 142% 138% 136% 128% 127% 138% 140% 90% 110% 130% 150% 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q19 2Q19 3Q19 4Q19 1Q20

Sound Asset Quality

Coverage Ratio Cost of Risk * Cost of Risk: Provisions / Average Total loans (Performing + Past Due), On actual criteria all the recoveries are register on Provisions (net)

SLIDE 31 31 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Strong Capital Position

7.90% 9.40% 11.40%

Capital Adequacy Ratio

11.5% 12.7% 12.4% 12.1% 11.9% 12.7% 13.8% 13.1% 13.3% 12.7% 12.2% 5.7% 1.1% 15.1% 15.3% 14.6% 15.3% 17.2% 17.2% 18.1% 20.0% 20.3% 18.6% 19.0% 2013 2014 2015 2016 2017 2018 1Q19 2Q19 3Q19 4Q19 1Q20 *RWA= Risk Weighted Assets annual growth RWA Basel III +17% +11% +8% +16% (2%) +19% +20% +19% +5% +7% +9% CET1 Minimum Regulatory Ratios Total Tier 1 17.9% Tier 2 9.70% 7.70% 6.20% Temporary waiver

SLIDE 32 32 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App 1Q20 YoY 1Q20 YoY Considering Banorte Futuro Insurance Net Income 1,696 6% 2,029 1% Equity 8,423 (7%) 24,746 (1%) Assets 43,752 (4%) 59,723 (2%) Premiums 10,364 (18%) 10,364 (18%) ROE 90.0% 12.7 pp 34.8% 0.8 pp AFORE Net Income 663 (20%) Equity 23,040 0% Assets 25,301 2% AUM 865,906 9% ROE 10.9% (3.0) pp ROTE 35.4% Annuities Net Income 284 4% Equity 5,150 25% Assets 141,415 12% Premiums 3,489 27% ROE 22.7% (4.7) pp

BAP: Long Term Savings Business

Million Pesos

SLIDE 33 33 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

GFNorte Guidance 2020

Guidance 2020 Loan Growth 6% – 8% NIM Expansion 5 – 15bp Expense Growth 5% – 5.5% Efficiency 38.0 – 39.0% Cost of Risk 1.9% – 2.2% Tax Rate 26% – 27% Net Income 37.5 – 38.8 ROE 19.6% – 20.1% Macro Estimates 2020 GDP 0.8% Inflation 3.5% Reference Rate 6.50%

SLIDE 34 34 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Loans

Feb 2020

Deposits

2°

Deposit & Loan Market Share

Source: CNBV. 3°

SLIDE 35 35 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App Consumer

C. Cards

Mortgage Commercial Government Deposits Feb-19 Feb-20 Feb-19 Feb-20 Feb-19 Feb-20 Feb-19 Feb-20 Feb-19 Feb-20 Feb-19 Feb-20 Banorte 12.2% 12.1% 9.7% 9.9% 19.5% 19.2% 10.8% 10.3% 34.3% 29.9% 14.7% 13.6% BBVA 28.0% 29.4% 27.5% 27.4% 25.9% 26.0% 18.9% 19.6% 24.1% 26.6% 21.6% 22.1% CitiBanamex 15.2% 13.1% 27.2% 26.7% 10.1% 9.4% 12.6% 12.1% 5.9% 5.8% 14.7% 14.5% Santander 8.7% 8.8% 14.1% 14.2% 16.9% 16.5% 13.3% 13.2% 12.0% 12.7% 13.6% 13.0% HSBC 6.3% 6.6% 5.6% 5.7% 6.1% 7.2% 8.7% 7.9% 6.3% 5.9% 8.1% 8.2% ScotiaBank 5.2% 5.2% 2.7% 2.8% 15.0% 15.2% 7.1% 7.5% 1.7% 2.4% 6.3% 6.5% Inbursa 4.8% 4.1% 4.1% 4.1% 0.7% 0.6% 0.0% 0.0% 4.1% 5.8% 3.2% 3.1% Others 19.6% 20.6% 9.0% 9.2% 5.9% 6.0% 28.7% 29.3% 11.6% 11.0% 17.8% 19.0% Market Position 3° 4° 2° 4° 1° 3°

Market Share by Segment

Source: CNBV.

SLIDE 36 36 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Afore Market Share (Retirement Savings)

Source: CONSAR AUM Market Share Mar-19 Mar-20 Mar-19 Mar-20 XXI Banorte 796 866 22.5% 22.1% CitiBanamex 641 684 18.1% 17.5% Profuturo GNP 522 597 14.7% 15.2% SURA 525 565 14.8% 14.4% PensionISSSTE 225 257 6.3% 6.6% Coppel 217 257 6.1% 6.6% Principal (Metlife, May18) 235 254 6.6% 6.5% Invercap 175 185 4.9% 4.7% Other 207 250 5.9% 6.4% 1° Billion Pesos Assets Under Management

SLIDE 37 37 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Insurance Market Share

Dec-18 Dec-18 Premiums Market Share Dec-19 Dec-19 Million Pesos 9° Source: AMIS. Dec-18 Dec-18 Net Income Market Share Dec-19 Dec-19 7° G.N.P. Metlife México BBVA Bancomer Banamex AXA Seguros Qualitas Monterrey New York Life Mapfre Crédito Seguros Banorte Inbursa Other TOTAL 60,221 67,995 12.2% 12.4% 3,234 4,435 8.1% 9.0% 61,962 55,186 12.5% 10.0% 9,063 6,695 22.7% 13.6% 40,520 47,363 8.2% 8.6% 4,831 5,845 12.1% 11.9% 24,358 39,962 4.9% 7.3% 1,493 3,999 3.7% 8.1% 37,212 39,940 7.5% 7.3% 1,928 1,501 4.8% 3.1% 32,821 34,249 6.6% 6.2% 2,418 5,081 6.0% 10.3% 29,071 30,259 5.9% 5.5% 3,270 3,147 8.2% 6.4% 15,798 28,143 3.2% 5.1% 115 286 0.3% 0.6% 25,616 26,551 5.2% 4.8% 3,396 3,890 8.5% 7.9% 19,885 19,335 4.0% 3.5% 3,146 3,957 7.9% 8.1% 147,191 161,449 29.8% 29.3% 7,086 10,270 17.7% 20.9% 494,653 550,433 100.0% 100.0% 39,980 49,106 100.0% 100.0%

SLIDE 38 38 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Annuities Market Share

1° 1° *\ Legal document for any pensioners entitled to receive a pension. Source: AMIS to March 2020. Mar-19 Mar-19 Resolutions * Market Share Mar-20 Mar-20 Annuitants Million Pesos Mar-19 Mar-19 Mar-20 Mar-20 Market Share Banorte Profuturo GNP Bancomer Total Industry 2,698 3,481 43.0% 47.6% 2,207 1,927 35.2% 26.4% 1,355 1,901 21.6% 26.0% 6,267 7,310 100.0% 100.0% Banorte Profuturo GNP Bancomer Total Industry 2,587 2,826 40.4% 45.1% 2,168 1,411 33.8% 22.5% 1,636 2,024 25.5% 32.3% 6,405 6,261 100.0% 100.0%

SLIDE 39 39 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

GFNorte in the World

(1) Level 1 Ticket Indexes GFNORTEO (BMV) IPC (BMV) Sustainable IPC (BMV) MSCI Mexico STOXX GBOOY (OTCQX) DJSI MILA Climate Disclosure Leadership OTCQX30 Euronext Vigeo EM70 XNOR (Latibex) FTSE Latibex All Shares FTSE Latibex TOP 1Q20 Total Shares Outstanding: 2,883.5 m Float: ~ 86% Total ADRs(1) Outstanding: 4.79 m 302,763 187,425 150,000 200,000 250,000 300,000 350,000 400,000 4Q12 4Q13 4Q14 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Market Capitalization Million pesos US 8.0 bn Oil and COVID-19 crisis

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Analyst Opinion & Investment Grade by All Major Rating Agencies

Net Income 2020 $36,440 Target Price $112.8 Maximum $136.5 Number of Analysts 21 # BUY 15 # HOLD 5 # SELL 1 Analysts‘ Estimates (as of Apr 23, 2020) Ratings Agencies Rating Agency Outlook Date BBB- BBB Fitch Standard & Poor’s Negative Negative Mar-20 Abr-20 Baa3 Moody’s Negative Abr-20

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Appendix

SLIDE 42 42 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Quarterly Summary

Income Statement Highlights - GFNorte 1Q19 4Q19 1Q20 Change (Million Pesos) 4Q19 1Q19 Interest Income 38,075 37,667 37,008 (2%) (3%) Interest Expense 18,406 15,174 14,657 (3%) (20%) Technical Results (Insurance & Annuities) 1,116 (2,305) (383) 83% (134%) Net Interest Income 20,784 20,188 21,968 9% 6% Net Service Fees 2,967 4,230 3,455 (18%) 16% Trading 1,152 872 1,166 34% 1% Other Operating Income (Expenses) 2,143 746 327 (56%) (85%) Non Interest Income 6,262 5,847 4,949 (15%) (21%) Total Income 27,046 26,035 26,916 3% (0%) Non Interest Expense 10,004 10,572 10,466 (1%) 5% Provisions 3,736 3,765 4,344 15% 16% Operating Income 13,306 11,698 12,106 3% (9%) Taxes 3,650 2,951 3,228 9% (12%) Subsidiaries' Net Income 411 389 353 (9%) (14%) Minority Interest (135) (125) (113) (10%) 16% Subsidiaries & Minority Interest 275 263 240 (9%) (13%) Net Income 9,932 9,010 9,118 1% (8%) Recurring Net Income 8,748 9,010 9,118 1% 4%

SLIDE 43 43 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Quarterly Summary

Balance Sheet Highlights - GFNorte 1Q19 4Q19 1Q20 Change (Million Pesos) 4Q19 1Q19 Asset Under Management 2,697,401 2,771,604 2,708,692 (2%) 0% Performing Loans (a) 762,105 762,642 779,818 2% 2% Past Due Loans (b) 13,488 12,806 13,212 3% (2%) Total Loans (a+b) 775,594 775,448 793,030 2% 2% Total Loans Net (d) 757,265 757,809 774,525 2% 2% Acquired Collection Rights ( e) 2,217 1,601 1,500 (6%) (32%) Total Credit Portfolio (d+e) 759,482 759,410 776,025 2% 2% Total Assets 1,594,607 1,580,010 1,729,280 9% 8% Total Deposits 734,956 724,490 772,993 7% 5% Total Liabilities 1,409,497 1,384,012 1,531,790 11% 9% Equity 185,110 195,998 197,490 1% 7% Total Loans ex-Government 580,635 588,654 618,269 5% 6% Financial Ratios GFNorte 1Q19 4Q19 1Q20 NIM (1) 5.7% 5.7% 5.9% ROE (2) 22.4% 19.0% 18.8% ROA (3) 2.5% 2.28% 2.21% Efficiency Ratio (4) 37.0% 40.6% 38.9% Operating Efficiency Ratio (5) 2.5% 2.7% 2.5% CCL Banorte and SOFOM - Basel III (6) 116.6% 133.5% 120.1% Asset Quality: Past Due Loan Ratio 1.7% 1.7% 1.7% Coverage Ratio 135.9% 137.7% 140.1% Cost of Risk (7) 1.91% 1.98% 2.22% Market References Banxico Reference Rate 8.25% 7.25% 6.50% TIIE 28 days (Average) 8.56% 7.86% 7.36% Exchange Rate Peso/Dolar 19.38 18.86 23.48 Tax Rate 26.6% 24.4% 25.9%

SLIDE 44 44 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App INFRASTRUCTURE 1Q19 4Q19 1Q20 Employees* 29,425 30,162 29,796 Branches 1,149 1,182 1,178 ATM’s 8,453 8,919 9,090 POS’s 158,533 166,505 166,225 *Preliminar

Quarterly Summary

Share Data 1Q19 4Q19 1Q20 Change 4Q19 1Q19 Earnings per share (Pesos) 3.444 3.125 3.162 1% (8%) Earnings per share Basic (Pesos) 3.469 3.138 3.180 1% (8%) Dividend per Share for the period (Pesos) 0.00 0.00 0.00 NA NA Payout for the period 0.0% 0.0% 0.0% NA NA Book Value per Share (Pesos) 63.39 67.18 67.70 1% 7% Issued Shares (Million) 2,883.5 2,883.5 2,883.5 0% 0% Stock Price (Pesos) 105.54 105.00 65.00 (38%) (38%) P/BV (Times) 1.66 1.56 0.96 (39%) (42%) Market Capitalization (Million Dollars) 15,704 16,050 7,981 (50%) (49%) Market Capitalization (Million Pesos) 304,320 302,763 187,425 (38%) (38%) Tipo de Cambio al cierre cada trimestre 19.37790 18.86420 23.48470 24% 21%

SLIDE 45 45 DB NIM Rev C / I NI Div ROE TI L D Dep Loan ICAP BAP Guid Mkt Eco Hist App

Healthy Liquidity

Loans / Deposits (%) Liquidity Coverage Ratio CCL (%) 104% 105% 101% 90% 92% 94% 96% 98% 100% 102% 104% 106% 108% 110% 1Q 2015 3Q 1Q 2016 3Q 1Q 2017 3Q 1Q 2018 3Q 1Q 2019 3Q 1Q 2020 117% 133% 120% 60% 70% 80% 90% 100% 110% 120% 130% 140% 150% 1Q 2015 3Q 1Q 2016 3Q 1Q 2017 3Q 1Q 2018 3Q 1Q 2019 3Q 1Q 2020

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Improving Corporate Governance

GFNorte Mexbol Index (Average)* Float 86% 45% Listed overseas Yes 46% of the companies Chairman of the Board-CEO separation Yes In 73% of the companies Share of independent board members, % 71.0 49.7 Share of total assets threshold to require shareholders approval in M&A operations, % Current Before Aug'16 19.7 Non-related 20 20

-

Related 5 20

-

Board members nominations committee Existence Yes 13.5% of the companies Final approval of nominated board members Shareholders Shareholders Share of independent board members in this committee, % Current Before Aug'16 18.8 57.1 25 All members of the BOD are elected every year by the Shareholders’ Assembly. Main Committees are chaired by independent members.

Risk Policies
Nominations
Audit & Corporate Practices

Assembly quorum has always been higher than 60% and consensus has always been reached on proposals.

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Corporate Responsibility and Sustainability

At GFNorte, sustainability means maximizing growth and profitability while seeking to achieve balance among the economic, social and environmental aspects of our business. This is achieved through a four-pillar framework: Focus on Social and Environmental Risk Management, Environmental Efficiency, Human Rights and Gender Equity and Corporate Volunteering, Responsible Investment, Financial Inclusion and Education Sustainable Finance Transparency People and Community Environmental Footprint ✓ PRI (Principles of Responsible Investment) – We seek to promote a sustainable risk management considering the risk of the environmental, social and governance issues integrated in our investment portfolios, safeguarding the patrimony of our clients. ✓ Reporting – We incorporated in our Annual Integrated Report the framework of International Integrated Reporting Council (IIRC), Global Reporting Initiative (GRI), Global Compact and we align our performance to the UN SDGoal's platform. ✓ Social & Environmental Risks Analysis – Under the Equator Principles’ framework, Banorte analyzes the environmental and social risks and impacts of loan portfolios for Corporate and Business Banking, Government Banking and Structured Finance. Banorte goes beyond the Equator Principles’ scope by including loans of lower amounts (loans greater than $ 1 million US dollars and analyzes their risks the Performance Standards of the International Finance Corporation. ✓ Sustainability Management System – Its objective is to gather, validate, monitor and analyze data from the subsidiaries of the Group through key environmental, social and economic indicators.

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Corporate Responsibility and Sustainability

Global Initiative Report (GRI Standards) International standards on sustainability reporting and disclosure of economic, environmental and socialtopics. UN Global Compact International initiative promoting 10 universally accepted Principles to promote Corporate Social Responsibility(CSR). Carbon Disclosure Project (CDP) Organization that promotes awareness on climate change through a better quality and transparency of the information reported on the company's emissionsperformance. IPC Sustentable Mexican index of 30 listed companies ,which are best positioned in relation to the pillars of Environment, Socialand CorporateGovernance. Empresa Socialmente Responsable (ESR) Recognition granted by the Mexican Center for Philanthropy (Cemefi) and AliaRSE, as a company committed with corporate social Responsibility. Natural Capital Declaration Voluntary financial sector initiative created at the Rio +20 Earth Summit, which recognizes the role of natural resources in the economy through its integration into financial products and services. Equator Principles Standard within the financial sector to determine, assessand manage the environmental and social risks of financed projects. GEI2 ProgrammeMexico Voluntary reporting of greenhouse gas emissions UNEP Finance Initiative Initiative that aims to identify, promote and carry out the adoption of best environmental and sustainabilitypractices at all levels of operations of financialinstitutions. Dow Jones Sustainability Index MILA In 2017 was included in the Dow Jones Sustainability Index MILA Pacific Alliance. Asociación de Bancos de México (ABM) Participation in the Sustainability Committee and the Corporate Social Responsibility Committee, and signatories as the ABM Banking Sustainabilityprotocol. STOXX ESG Leaders Index Index that represents the main global companies in terms of environmental, social and governance criteria, based on ESG indicators provided by Sustainalytics. Euronext Vigeo Emerging Markets 70 Recognizes the 70 companies from emerging countries with the most advanced practices in terms of sustainability. FTSE4Good Emerging Index Index that evaluates actions in the themes of climate change, labor standards and risk management, among others. Bloomberg Gender Equity Index Index that provides analysis of the commitment of 52 companies with the gender equity in the workplaceto investors and organizations. Principles for Responsible Investment Initiative that promotes its signatories to integrate environmental, social and governmental (ESG) criteria into their investment and ownershipdecisions.

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Contact Information and Reports

If you have any information request or comments, please contact Banorte's Investor Relations Department at: Tel: (52) 55 1670 2276 E-mail: investor@banorte.com We recently published the 1Q20 report. During 2020 we have released: 1. Annual Report to the Banking and Securities Commission (CNBV) 2. Annual Report to the Stock Exchange (Informe Anual Circular Única de Emisoras) 3. Audited Financial Statements for 2019 4. Annual Financial and CSR Report for 2019 under the GRI methodology (PDF & Interactive) You can access our quarterly and annual reports (in Spanish and English) and other informative materials at : investors.banorte.com Disclaimer Grupo Financiero Banorte does not warrant that the document is accurate, complete, reliable, fit for any particular purpose and does not accept liability for any act (or decision not to act) resulting from the use of this document and related data. The information contained in this document is illustrative and informative so it should not be considered as an advice and/or recommendation of any kind. Grupo Financiero Banorte is not part of any party or political trend.