Interim report
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report.gkb.ch Consolidated Financial Statements as at 30 June 2026
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Consolidated Interim Financial Statements as at 30 June 2026 137.2 CHF million Consolidated profit rises by 18.2% 46.8% Cost/Income Ratio High Productivity of GKB CEO Daniel Fust and Chairman Heinz Huber GKB significantly increases profit in first half Graubündner Kantonalbank (GKB) ended the first half of 2026 with a consolidated profit of CHF 137.2 million (+18.2%). This encouraging result highlights its successful positioning as a credit, investment and pension bank. GKB's equity capital of CHF 3.0 billion underscores its pronounced resilience. At CHF 137.2 million, GKB has posted the best half-year result in its history. CEO Daniel Fust is de- lighted with the result: “The operating result emphasizes the high performance of a resilient and ro- bust GKB. The positive volume growth with private and business clients reflects the high level of trust our clients have in GKB and highlights our deep regional commitment.” Increase in all income components Operating income rose by CHF 28.9 million (+11.2%) to CHF 286.3 million. All income components contributed to this performance. Net interest income improved by CHF 14.6 million (+9.3%). The decline in margins caused by the prolonged zero-interest environment was offset by growth in client loans and the successful equity investment strategy. In addition, unnecessary value adjustments amounting to CHF 3.5 million net were reversed in the first half. Net fee and commission income rose by CHF 11.3 million (+13.5%), primarily due to the acquisition of investment volume at the parent company and the favourable market performance. This allowed the percentage of non-inter- est-income business to expand further to 40.1%. Efficiency and performance of Bank remain convincing As part of the implementation of its new Strategy 2026-2030, GKB is making targeted investments in digital transformation and the specialist staff this requires, thus keeping its finger on the pulse. As a result operating expenses rose by 3.0%, while the increase in costs flattened out compared to prior-year periods, which is explained by an intense focus on efficiency. If the expenditure is related to the income generated, GKB achieved a satisfying result with a cost/income ratio of 46.8%, illus- trating its high level of productivity. report.gkb.ch 2
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Consolidated Interim Financial Statements as at 30 June 2026 20.2% CET1 ratio Sign of GKB’s financial strength Growth in private and business clients GKB's business volume amounts to CHF 78.9 billion (+0.1%). The ongoing momentum in the home market led to growth of CHF 0.1 billion in loans to clients, particularly in business with private and SME clients. Net new money generated by the parent company in the client business amounted to CHF 0.7 billion. The total net cash outflows of CHF 1.0 billion are attributable to outflows from insti- tutional clients of the subsidiaries, but were largely offset by the positive market performance. Secure and stable bank A solid capital base is an important building block for sustainable and responsible growth. GKB’s eq- uity capital amounted to CHF 3.0 billion at the end of the first half of 2026. This is a clear indication of the Bank’s financial strength and resilience. The CET1 ratio increased by a further 0.2 percentage points from an already high level to 20.2%, underlining the consistent and long-term risk policy of GKB and comfortably meeting regulatory requirements. Positive outlook for 2026 The pleasing figures for the first half of 2026 show that GKB’s clients benefit from a particularly solid and sustainably financed bank. The above-average capital base enables strategic flexibility and cre- ates sufficient collateral to further consolidate its position as a strong bank in the canton of Graubünden. Based on the successful first six months, Graubündner Kantonalbank is raising its out- look and now expects a year-on-year increase in profit for 2026. report.gkb.ch 3
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Consolidated Interim Financial Statements as at 30 June 2026 Group key figures (Half-yearly figures are not audited) 1 Liabilities from client deposits – cash management + medium-term notes + client custodial assets + fiduciary transactions + account and custody account management with third-party banks (including double counting) 2 Equity before appropriation of profits excluding non-controlling interests 3 Inflows of client assets – outflows of client assets (excluding market fluctuations and investment income in each case) 4 Operating expenses / (operating income – changes in value adjustments for default risks and losses from interest operations) 5 Consolidated profit before reserves excluding non-controlling interests / (equity before appropriation of profits excluding non-controlling interests – (consolidated profit before reserves excluding non-controlling interests / 2)) 6 Equity before appropriation of profits excluding minority interests / (share capital – treasury shares) All amounts listed in this document have been rounded. This can lead to a minimal difference to the total amounts. Balance sheet / Off-balance-sheet in CHF million in CHF million 30.06.2026 31.12.2025 + / - in % Client assets 53,708 53,792 –0.2 Loans to clients 25,196 25,058 0.5 Equity 2,985 2,972 0.4 Headcount 30.06.2026 31.12.2025 + / - in % FTEs (adjusted for part-time positions, apprenticeships at 50%) 933 926 0.8 Income statement in CHF million in CHF million 1st half 2026 1st half 2025 + / - in % Operating income 286.3 257.4 11.2 Operating expenses 132.4 128.5 3.0 Operating result 140.3 118.8 18.1 Consolidated profit before reserves, excluding non-controlling interests 132.5 112.3 18.0 Consolidated profit 137.2 116.1 18.2 Key figures 1st half 2026 1st half 2025 + / - in % Net new money in CHF million –1,001 –413 Cost/Income-Ratio (CIR) 46.8% 48.0% –2.5 Return on equity (ROE) 9.1% 7.9% 15.0 Equity / PC in CHF 1,198.2 1,165.4 2.8 Leverage Ratio 8.0% 7.9% 1.4 Core capital ratio (CET1 ratio / Tier-1-ratio) 20.2% 19.4% 4.3 1 2 1/3 4 5 6 report.gkb.ch 4
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Consolidated Interim Financial Statements as at 30 June 2026 Group Balance Sheet Assets Liabilities in CHF 1,000 in CHF 1,000 30.06.2026 31.12.2025 + / - in % Liquid assets 6,624,673 8,213,384 –19.3 Amounts due from banks 97,466 99,255 –1.8 Amounts due from customers 2,993,654 2,936,778 1.9 Mortgage loans 22,202,212 22,121,375 0.4 Trading portfolio assets 100 5 >100 Positive replacement values of derivative financial instruments 7,307 9,748 –25.0 Financial investments 2,872,095 2,676,716 7.3 Accrued income and prepaid expenses 62,248 49,783 25.0 Non-consolidated participations 30,402 25,591 18.8 Tangible fixed assets 130,609 129,169 1.1 Intangible assets 6,018 9,026 –33.3 Other assets 37,832 36,558 3.5 Total assets 35,064,617 36,307,387 –3.4 Total subordinated claims 1,293 1,291 0.1 in CHF 1,000 in CHF 1,000 30.06.2026 31.12.2025 + / - in % Amounts due to banks 2,116,783 2,374,535 –10.9 Liabilities from securities financing transactions 1,155,000 2,135,000 –45.9 Amounts due in respect of customer deposits 20,997,613 21,203,216 –1.0 Negative replacement values of derivative financial instruments 1,754 106 >100 Bond issues and central mortgage institution loans 7,237,000 7,144,000 1.3 Accrued expenses and deferred income 191,052 193,691 –1.4 Other liabilities 277,866 181,922 52.7 Provisions 66,028 63,142 4.6 Reserves for general banking risks 1,147,965 1,147,965 - Bank’s capital 250,000 250,000 - Capital reserves 40,376 37,558 7.5 Retained earnings reserves 1,429,095 1,335,393 7.0 Own shares –15,168 –15,554 –2.5 Minority interests in equity 32,038 31,782 0.8 Consolidated profit 137,217 224,632 –38.9 of which, minority interests in consolidated profit 4,720 8,311 –43.2 Total liabilities 35,064,617 36,307,387 –3.4 report.gkb.ch 5
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Consolidated Interim Financial Statements as at 30 June 2026 Group off-balance-sheet in CHF 1,000 in CHF 1,000 30.06.2026 31.12.2025 +/- in % Contingent liabilities 77,528 74,766 3.7 Irrevocable commitments 1,129,971 1,030,676 9.6 Obligations to pay up shares and make further contributions 1,662 1,446 14.9 fiduciary transactions 6,234 5,079 22.7 Total off-balance-sheet transactions 1,215,395 1,111,968 9.3 report.gkb.ch 6
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Consolidated Interim Financial Statements as at 30 June 2026 Consolidated Income Statement in CHF 1,000 in CHF 1,000 1st half 2026 1st half 2025 + / - in % Interest and discount income 199,190 221,680 –10.1 Interest and dividend income from trading portfolios 0 –0 –100.0 Interest and dividend income from financial investments 8,347 6,656 25.4 Interest expense 38,081 59,771 –36.3 Gross result from interest operations 169,455 168,564 0.5 Changes in value adjustments for default risks and losses from interest operations 3,483 –10,274 <-100 Net result from interest operations 172,938 158,290 9.3 Commission income from securities trading and investment activities 88,600 81,082 9.3 Commission income from lending activities 2,035 1,569 29.6 Commission income from other services 12,116 11,603 4.4 Commission expense 7,706 10,540 –26.9 Result from commission business and services 95,044 83,714 13.5 Result from trading activities and the fair value option 10,597 10,376 2.1 Result from the disposal of financial investments 2,839 545 >100 Income from participations 2,839 2,510 13.1 of which, other non-consolidated participations 2,839 2,510 13.1 Result from real estate 2,327 2,219 4.8 Other ordinary income 117 86 36.7 Other ordinary expenses 422 343 23.1 Other result from ordinary activities 7,700 5,018 53.5 Operating income 286,279 257,399 11.2 Personnel expenses 81,932 79,644 2.9 General and administrative expenses 48,644 47,014 3.5 Compensation for cantonal guarantee 1,808 1,861 –2.9 Operating expenses 132,384 128,519 3.0 Value adjustments on participations and depreciation and amortisation of tangible fixed assets and intangible assets 10,620 10,936 –2.9 of which, goodwill depreciation 3,009 3,009 0.0 Changes to provisions and other value adjustments, and losses –2,962 873 <-100 Operating result 140,313 118,816 18.1 Extraordinary income 14 2,644 –99.5 Extraordinary expenses 0 2,663 –100.0 Changes in reserves for general banking risks 0 0 - Taxes 3,111 2,691 15.6 Consolidated profit 137,217 116,106 18.2 of which, minority interests in consolidated profit 4,720 3,786 24.7 report.gkb.ch 7
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Consolidated Interim Financial Statements as at 30 June 2026 Information on the summarised notes Extraordinary income and expense Extraordinary income does not include any material items as at 30 June 2026. In the first half of the previous year, extraordinary income included gains on disposal of CHF 2.49 million from the sale of a bank property and another property, while extraordinary expense included a one-off investment contribution of CHF 2.66 million towards the construction of an event hall in Chur. Changes in the accounting and valuation principles None. Significant events during the reporting period At the end of April, a civil action was filed against the subsidiary BZ Bank Aktiengesellschaft, former and current members of the governing bodies of BZ Bank and GKB. The action is in connection with a client relationship and an investment product managed by BZ Bank. The claimant alleges breaches of duty on the part of the defendants in this regard. The amount of the claim is in the mid-hundreds of millions. GKB and BZ Bank consider the allegations to be unfounded and dispute the claims. GKB and BZ Bank will defend their position accordingly in the proceedings. A provision has been set aside for anticipated litigation and procedural costs. Material events after the closing date of the interim financial statements None. Disclosure Report The Disclosure Report as at 30 June 2026 will be published on 21 August 2026. Chur, 21 August 2026 Statement of consolidated Equity Capital in CHF 1,000 Bank’s capital Capital reserves Retained earnings reserves Unassigned reserves for general banking risks Own shares Minority interests Consolidated profit Total Equity on 1.1.2026 250,000 37,558 1,335,393 1,147,965 –15,554 31,782 224,632 3,011,776 Prior year's profit carried forward - - 216,321 - - 8,311 –224,632 - Change to scope of consolidation - - –78 - - - - –78 Acquisition of own shares - - - - –7,868 - - –7,868 Disposal of own shares - - - - 8,253 - - 8,253 Profit (loss) on disposal of own shares - 2,395 - - - - - 2,395 Dividends and other distributions - 423 –122,250 - - –6,626 - –128,454 Change in minority interests - - –291 - - –1,428 - –1,718 Consolidated profit - - - - - - 137,217 137,217 Equity on 30.06.2026 250,000 40,376 1,429,095 1,147,965 –15,168 32,038 137,217 3,021,522 report.gkb.ch 8
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Consolidated Interim Financial Statements as at 30 June 2026 Graubündner Kantonalbank Participation Certificate Listed on SIX Swiss Exchange Sec. No. 134 020 Price: CHF 2,320.00 (as at 06/30/2026) Portrait Graubündner Kantonalbank offers everything that makes up a modern universal bank – for private individuals, businesses and the public sector. GKB is present in all regions of Graubünden and, with over 1,000 employees, is one of the largest employers in the canton. In addition to its economic ac- tivities, the Bank demonstrates its commitment through sponsorship, the GKB engagement fund, its art collection and its voluntary work. GKB holds majority stakes in Privatbank Bellerive AG and Albin Kistler AG. It is also the sole share- holder in BZ Bank Aktiengesellschaft. GKB participation certificates have been listed on the stock ex- change since 1985. Capital structure Endowment and participation capital: CHF 250 million Endowment capital: CHF 175 million Participation capital: CHF 75 million (750,000 PC at CHF 100 nom.) Shareholders Canton of Graubünden: 84.6% of capital (per 06/30/2026) Board/Management: 0.03% of PC (per 06/30/2026) Board of directors/Management Chairman of the Bank: Heinz Huber (since July 2025) Chief Executive Officer: Daniel Fust (since October 2019) No. of Board of directors/Management members 2026: 7/5 Rating from «S&P Global Ratings» Long term: «AA» Outlook: stable Key dates Annual figures 2026: 26 February 2027 Participation certificate holder’s meeting: 17 April 2027 report.gkb.ch 9
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P.O. Box 7001 Chur Phone +41 81 256 96 01 medien@gkb.ch gkb.ch 06.26