Slides
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Coop Pank Group 2025 Q4 and yearly unaudited results 12.02.2026
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Key notes from year 2025 • Economic environment turned to growth (GDP growth approx. +0.7%, export +7%) • Loan and leasing portfolio in Estonia (individuals and companies combined) grew by 8%, +2.2 billion euros • Interest environment has stabilized, 6-month Euribor 2.6% at the beginning of the year, approx. 2.1% – 2.15% since May • Coop Pank's loan portfolio grew by 340 m€, +19%, or 2x faster than the market, crossing the 2-billion-mark • Quality of loan portfolio remains very good and is better than market average • Issue of covered bonds in the amount of 250 m€ to European institutional investors • Systemically important credit institution since 01/01/25 • Moody’s confirmed the rating Baa2 with a positive outlook • Cooperation with Coop stores: new packages and a cashback offer for joint customers • The state opened its accounts at Coop Pank: making transfers even more convenient, faster and safer for both the bank's customers and the state • Recognitions: according to the Kantar Emor survey, the most recommended bank in Estonia and the TOP10 most reputable employer; KELL gold label for Responsible Entrepreneurship, Family-Friendly Employer gold label and Supporter of National Defense gold label; Coop Bank's app is among the 10 most customer-friendly mobile applications among Estonian companies • Changes in management: new members of the board and management
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Business volumes in quarterly comparison Loans Active customers Net profit Deposits Increase calculations refer to active customers. Active client has made at least 4 transactions in the last 60 days 1 774 1 818 1 943 2 023 2 114 Q4 2024 Q1 Q2 Q3 Q4 2025 m€ +340 +19% +91 +4,5% 1 878 1 907 1 809 1 913 2 047 Q4 2024 Q1 Q2 Q3 Q4 2025 m€ +170 +9% +134 +7,0% 208 213 218 222 227 99,4 101,8 103,6 105,4 108,3 Q4 2024 Q1 Q2 Q3 Q4 2025 No of total customers Active customers '000 +9 +9% +2,9 +2,8% 6 393 7 913 6 649 6 971 7 190 Q4 2024 Q1 Q2 Q3 Q4 2025 th € +797 +12% +219 +3,1%
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Results of Q4 2025 – compared to Q3 2025 Key indicators in quarterly comparison • Loan portfolio increased +€91 m€ (+4%) • Net interest income increased +0,7 m€ • Interest income increased 0,3 m€, including +1,2 m€ due to business volume growth and decrease in margins -0,9 m€. • Interest expenses decreased by 0.4 m€ incl. -1.5 m€ due to the decrease in interest rates; increase in deposit volume increased the expenses 1.1 m. • Operating expenses in Q4 11.4 m€ (+1.0 m€, +9%) • Cost of impairment of financial assets 1.0 m€ (+0.4 m€) • Loan portfolio quality remains good • Net profit 7.2 m€ (+0.2 m€, +3%) Q4 2025 Q3 2025 Net operating income ('000 €) 20 958 19 542 +1 416 +7% Interest 19 038 18 299 +739 +4% incl interest income 31 668 31 359 +309 +1% incl interest expense -12 630 -13 060 +430 -3% Service fees and commissions 1 123 1 100 +23 +2% Other 797 143 +654 +457% Operating expenses -11 422 -10 459 -963 +9% Operating profit 9 536 9 083 +453 +5% Impairment costs -1 041 -664 -377 +57% Profit before income tax 8 495 8 420 +76 +1% Income tax -1 305 -1 448 +143 -10% Net profit 7 190 6 971 +219 +3% Net loan portfolio (m€) 2 114 2 023 +91 +4% Deposits and loans received 2 047 1 913 +134 +7% Equity 235 227 +7 +3% ROE 12,5% 12,5% -0,0% Net interest margin (NIM) 2,9% 3,0% -0,1% Cost of financing 2,1% 2,3% -0,2% Quarterly change
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Business volumes in yearly comparison Loans Active customers Net profit Deposits Change calculations refer to active customers. Active client has made at least 4 transactions in the last 60 days 953 1 301 1 491 1 774 2 114 2021 2022 2023 2024 2025 m€ CAGR: +22% +340 +19,2% 1 089 1 497 1 712 1 878 2 047 2021 2022 2023 2024 2025 m€ CAGR: +17% +170 +9,0% 115 147 182 208 227 51,0 66,8 82,0 99,4 108,3 2021 2022 2023 2024 2025 No of total customers Active customers '000 CAGR: +21% +8,9 +9,0% 13,5 20,4 39,2 32,2 28,7 2021 2022 2023 2024 2025 m€ CAGR: +21% -3 -10,7%
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Results of 2025 – compared to 2025 Key indicators in year on year comparison • Net income -2.5 m€ (-3%) • Interest income -12.4 m€ incl. business volume growth impact +24.3 m€; interest rate impact -31.5 m€; other impacts -5.1 m€. • Interest expenses decreased by 8.0 m€ including interest rate impact of 13.4 m€; volume growth added 5.4 m€ • Operating expenses +0.9 m€ (+2%) • Payroll expenses • IT expenses • Financial assets of high quality • Impairment costs decreased by -1.3 m€ (-29%) • At the same time the loan portfolio grew by +19% • Net profit decreased by -3.5 m€ (-11%) 2025 2024 Net operating income ('000 €) 79 355 81 883 -2 528 -3% Interest 73 269 77 570 -4 301 -6% incl interest income 126 344 138 695 -12 350 -9% incl interest expense -53 075 -61 125 +8 050 -13% Service fees and commissions 4 545 4 358 +187 +4% Other 1 542 -45 +1 587 -3527% Operating expenses -41 491 -40 576 -915 +2% Operating profit 37 865 41 307 -3 442 -8% Impairment costs -3 299 -4 643 +1 344 -29% Profit before income tax 34 566 36 664 -2 098 -6% Income tax -5 842 -4 486 -1 356 +30% Net profit 28 724 32 178 -3 454 -11% Net loan portfolio (m€) 2 114 1 774 +340 +19% Deposits and loans received 2 047 1 878 +170 +9% Equity 235 212 +23 +11% ROE 12,9% 16,2% -3,3% Net interest margin (NIM) 3,0% 3,8% -0,8% Cost of financing 2,4% 3,3% -0,9% Change
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Loan portfolio continues to grow Net loan portfolio • Annual growth of loan portfolio +340 m€ (+19%) • Business loans +207 m€ (+27%) • Private mortgage loans +125 m€ (+17%) • Consumer loans +6 m€ (+5%) • Leasing +3 m€ (+2%) • The decline in Euribor has stopped in the second half of 2025 and has turned to a slight increase, 2025 average 6-month Euribor 2.21% (2024 3.49%) • The change in Euribor will have an impact with a delay of up to 6 months. Gross interest of portfolio 423 578 641 770 977 365 508 597 717 842 67 86 100 109 115 98 130 153 177 180 953 1 301 1 491 1 774 2 114 2021 2022 2023 2024 2025 Business loans Private mortgage loans Consumer loans Leasing m€, % CAGR: +22% +340 +19,2% 5,2% 5,1% 7,5% 7,5% 5,9% 2021 2022 2023 2024 2025 %
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Loan portfolio interest by business lines Business loans Private consumer loans Leasing Private mortgage loans 430 587 650 780 988 5,0% 5,0% 7,5% 7,8% 6,2% 2021 2022 2023 2024 2025 Gross loan portfolio Gross interest % m€, % 366 508 598 719 843 3,4% 3,4% 6,0% 6,3% 4,6% 2021 2022 2023 2024 2025 Gross loan portfolio Gross interest % m€, % 70 89 105 114 12017,7% 16,9% 15,1% 13,7% 13,3% 2021 2022 2023 2024 2025 Gross loan portfolio Gross interest % m€, % 99 131 154 179 182 4,3% 4,4% 6,9% 7,2% 5,5% 2021 2022 2023 2024 2025 Gross loan portfolio Gross interest % m€, %
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Quality of loan portfolio Loans past due and loss allowances in balance sheet • Past due portfolio remains at a low 1.8% • Credit risk cost ratio 0.2% in 2025 Credit risk cost ratio Total residual of loan principal amounts past due; loss allowances in balance sheet; share of overdue contracts in total (gross) portfolio 19,0 18,1 26,5 31,2 33,3 2,1 2,3 4,1 6,3 5,2 - 8,8 - 11,9 - 16,4 - 18,6 - 19,4 21,1 20,4 30,6 37,6 38,5 2,2% 1,5% 2,0% 2,1% 1,8% 2021 2022 2023 2024 2025 Past due 1-90 days Past due over 90 days Loss allowances Past due % m€, % 0,3% 0,5% 0,5% 0,3% 0,2% 2021 2022 2023 2024 2025 %
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Loan portfolio quality by business lines Business loans Private consumer loans Leasing Private mortgage loans Total residual of loan principal amounts past due; loss allowances in balance sheet; share of overdue contracts in total (gross) portfolio 7,2 2,1 4,0 5,5 4,3 - 4,6 - 7,4 - 10,0 - 11,2 - 11,8 7,4 2,6 5,3 8,2 6,3 1,7% 0,4% 0,8% 1,1% 0,6% 2021 2022 2023 2024 2025 m€, % 2,3 4,7 11,1 14,4 17,2 - 0,4 - 0,5 - 1,1 - 1,5 - 1,7 2,6 5,0 11,8 15,9 18,3 0,7% 1,0% 2,0% 2,2% 2,2% 2021 2022 2023 2024 2025 m€, % 4,5 5,6 6,8 6,6 6,3 - 3,4 - 3,4 - 4,9 - 5,2 - 5,2 6,1 7,0 8,9 8,8 8,3 8,7% 7,9% 8,5% 7,7% 7,0% 2021 2022 2023 2024 2025 m€, % 5,0 5,4 4,6 4,7 5,5 - 0,4 - 0,5 - 0,5 - 0,6 - 0,8 5,0 5,5 4,6 4,7 5,5 5,0% 4,2% 3,0% 2,6% 3,0% 2021 2022 2023 2024 2025 m€, %
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Cost of financing is decreasing Financing cost and financing sources • Total volume of deposits and other financial instruments increased by 494 m€ (+26%) in 2025 • Deposits from private clients +41 m€ (+11 m€ demand deposits, +40 m€ term deposits) • Deposits from business clients +81 m€ (+64 m€ demand deposits, +17 m€ term deposits) • Deposits from platforms +47 m€ • Other financial instruments +69 m€ • Covered bonds +255 m€ • The cost of financing turned to decline 571 780 1 218 1 306 1 410518 717 494 572 637 77 255 1 099 1 508 1 722 1 886 2 380 0,9% 0,7% 2,4% 3,3% 2,4% 2021 2022 2023 2024 2025 Term deposits Demand deposits Other fin.instruments Covered bonds m€, % Total cost of financing +1 281 +117% +494 +26,2%
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Client base and market share Total no of clients with a bank account No of active clients Market share • Total no of clients increased by 19 000 (+9%) (+26 000 in 2024) • 8 900 new active clients in 2025 (+9%) (+17 400 in 2024) • Bank’s market share changed in 2025* • Market share of loan portfolio 6.5% => 7.1% • Market share of deposits portfolio 6.0% => 6.1% Clients with a bank account. Active client has made at least 4 transactions in the last 60 days *Source: market share statistics as at December 2025 115 147 182 208 227 2021 2022 2023 2024 2025 '000 CAGR: +19% +19 +9,4% 51,0 66,8 82,0 99,4 108,3 2021 2022 2023 2024 2025 '000 CAGR: +21% +8,9 +9,0% 4,0% 5,5% 6,0% 6,0% 6,1%4,5% 5,5% 6,0% 6,5% 7,1% 2021 2022 2023 2024 2025 Market share of deposits Market share of loans market share%
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Capital base supports growth plans Yearly capitalization Capital adequacy 91 122 150 176 2030 16 28 28 28 17 22 22 35 35 108 160 200 239 267 2021 2022 2023 2024 2025 CET1 AT1 Tier2 m€ +159 +148% +28 +11,6% 16,6% 17,8% 19,6% 19,4% 18,5% 14,6% 15,6% 16,1% 16,3% 16,8% Total (%) Regulatory minimum + P2G (%) % 14,0% 15,4% 17,5% 16,6% 16,1% 11,9% 12,9% 13,5% 13,6% 14,1% T1 (%) Regulatory minimum + P2G (%) % 14,0% 13,6% 14,7% 14,3% 14,2% 9,9% 10,9% 11,5% 11,6% 12,1% 2021 2022 2023 2024 2025 CET1 (%) Regulatory minimum + P2G (%) %
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Liquidity Liquid assets Liquidity coverage ratio (LCR) 249 363 426 339 487 259 384 465 381 544 20,8% 22,4% 23,4% 17,4% 20,1% 2021 2022 2023 2024 2025 Bonds Cash, balances with other fin. institutions Cash, balances with central banks Liquid assets / total assets m€; % 202% 176% 293% 207% 202% 134% 144% 134% 127% 120% 100% 100% 100% 100% 100% 2021 2022 2023 2024 2025 LCR NSFR Regulatory minimum %
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Performance indicators Cost / income ratio (CIR) and ROE • CIR 52% • Net income 79.4 m€, -2.5 m€ (-3%) • Operating expenses 41.5 m€, +0.9 m€ (+2%) • ROE 12.9% • Growth in business volumes increases efficiency (operating expenses / loan portfolio) • Net interest margins declining -> negative impact on CIR • Portfolio quality has remained good Operating expenses / average loan portfolio 12,9% 16,8% 23,5% 16,2% 12,9% 57% 50% 41% 50% 52% 2021 2022 2023 2024 2025 Cost / Income ratio% ROE % 2,8% 2,4% 2,5% 2,5% 2,1% 2021 2022 2023 2024 2025 %
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Brand awareness and preference as a financial partner Brand awareness of Coop Pank Preference as a financial partner Source: reports of Initiative brand study 17% 26% 49% 49% 57% 60% 63% 45% 2% 50% 61% 77% 89% 94% Other Luminor Coop Pank LHV SEB Swedbank Top of Mind Would consider 12% 13% 27% 36% 13% 8% 27% 30% 28% 22% 18% 8% 9% 39% 43% 55% 58% Would not choose any Other Luminor SEB Coop Pank LHV Swedbank First preference Would consider
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Shareholders No of Coop Pank shareholders TOP shareholders 27,8 36,0 37,1 35,9 32,8 2021 2022 2023 2024 2025 '000 CAGR: +4% -3,1 -8,6% Coop Investeeringud 22% Cooperatives 19% Andres Sonn 8% CM Capital 5% Tallinna linnakantselei 3% Others 43% Shareholder distributionof Coop Pank as at 31.12.2025
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Share price Coop Pank share price and trading volume by dates Net income per share (EPS) P/E ratio P/B ratio 1,07 1,17 4,20 2,99 2,46 2,36 1,96 2,12 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 12.23 06.24 12.24 06.25 12.25 Share price €, trading volume thousand shares 0,15 0,22 0,38 0,31 0,28 2021 2022 2023 2024 2025 EPS € 2,44 1,67 1,30 0,95 0,93 2021 2022 2023 2024 2025 P/B € 20,2 11,3 6,1 6,3 7,6 2021 2022 2023 2024 2025 P/E € (TTM)
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Summary: 2025 results • Loan portfolio growth (+19% YoY) • Growth of active customers (+9% YoY) • Net profit 28.7 mln € (-11% YoY) • CIR 52% (2024: 50%) • ROE 12.9% (2024: 16.2%) Loan portfolio +19%
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Target: increasing return on equity Return on equity Return on equity >15% 7,8% 12,9% 16,8% 23,5% 16,2% 12,9% >15,0% 2020 2021 2022 2023 2024 2025 … 2030 %
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7,3 13,5 20,4 39,2 32,2 28,7 >60 2020 2021 2022 2023 2024 2025 … 2030 m€ Target: Growth of net profit Net profit Net profit > 60 mln €
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Target: Increasing market share Market share of loan portfolio Market share >10% 3,4% 4,5% 5,5% 6,0% 6,5% 7,1% >10,0% 2020 2021 2022 2023 2024 2025 … 2030 %
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Arko Kurtmann Chairman of Board, CEO arko.kurtmann@cooppank.ee Paavo Truu Member of Board, CFO paavo.truu@cooppank.ee https://www.cooppank.ee/en/for-investors