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LHV Group August results 15 September 2026
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2 LHV Group Strongest month of the year, with net profit exceeding EUR 10m • Net profit reached EUR 10.7m, up EUR 2.1m MoM. YTD net profit of EUR 63.8m is EUR 4.6m below the financial plan • Net interest income increased by EUR 0.4m MoM to EUR 23.3m, supported by loan growth and a stable margin. NIM improved to 2.8% and NII is EUR 5.9m ahead of plan YTD • Net fee and commission income declined by EUR 0.1m MoM to EUR 4.7m due to lower customer activity, EUR 6.7m below plan YTD • Operating expenses increased by EUR 0.1m MoM to EUR 14.1m, reflecting holiday-period seasonality. YTD costs remain EUR 4.4m above plan • Credit quality remained strong, with a net impairment release of EUR 0.2m. YTD impairments are EUR 2.6m below plan • Loan portfolio grew by EUR 58m MoM to EUR 5.9bn, split evenly between Estonia and the UK • Deposits remained stable at EUR 7.7bn as a EUR 164m decrease in banking services deposits was offset by regular customer inflows. LHV Group issued also EUR 200m of MREL and EUR 15m of AT1 bonds • AUM increased by EUR 54m to EUR 1.85bn, slightly ahead of plan * ROE is based on net profit and equity attributable to the owners of AS LHV Group Financial results, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Net interest income 23,280 167,889 156,937 161,948 +5,941 Net fee and commission income 4,667 38,813 40,328 45,475 -6,661 Other net income -698 -1,740 5,096 2,078 -3,818 Total net income 27,249 204,962 202,361 209,501 -4,539 Total operating expenses 14,089 117,191 103,481 112,800 +4,391 Earnings before impairment 13,160 87,771 98,880 96,701 -8,930 Impairment losses -176 7,485 2,442 10,075 -2,589 Income tax expense 2,589 16,487 18,062 18,218 -1,731 Net profit, incl. 10,747 63,799 78,376 68,408 -4,610 attr. to shareholders 10,521 63,126 76,673 67,097 -3,971 Business volumes, EURm Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Loan portfolio (net) 5,905 5,905 5,196 5,848 +57 Deposits from customers 7,657 7,657 7,716 8,083 -426 Assets under management 1,853 1,853 1,627 1,822 +31 Fin. intermediaries' payments, thousand pcs 8,325 68,753 53,747 59,485 +9,268 No of customers, thousand 721 721 631 na na Key figures Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Cost / income ratio (C/I) 51.7% 57.2% 51.1% 53.8% + 3.3 pp Net interest margin (NIM) 2.8% 2.5% 2.6% 2.4% + 0.1 pp Pre-tax ROE* 20.1% 15.5% 20.3% 16.9% - 1.4 pp ROE* 16.2% 12.4% 16.5% 13.1% - 0.7 pp
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LHV Pank Solid month across income, costs and credit quality 3 • Net profit reached EUR 10.2m, up EUR 3.6m MoM. YTD net profit of EUR 61.3m is EUR 5.7m below plan, or EUR 2.0m excluding the intragroup IRS revaluation • Net interest income increased by EUR 0.5m MoM, while net fee and commission income remained stable • Other net income included a EUR 1.1m mark-to-market loss on the liquidity portfolio, EUR 1.2m less than in July. The loss is expected to unwind as positions mature within two years • Operating expenses decreased slightly to EUR 8.5m. Cost/income ratio improved to 41.4% • Credit quality remained strong, with a net impairment release of EUR 0.3m, mainly related to minor model-based changes in the credit portfolio • Loan portfolio increased by EUR 29m MoM, with similar growth in corporate and retail loans • Deposits increased by EUR 116m MoM. Regular customer deposits grew by EUR 63m and banking services deposits decreased by EUR 155m. The balance includes a temporary EUR 200m LHV Group deposit from the senior bond issue, half of which is earmarked for an upcoming senior bond redemption • Customer base increased by 3,000 to 514,000, while customers making daily payments remained stable at 237 thousand Financial results, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Net interest income 19,999 143,821 140,359 139,139 +4,682 Net fee and commission income 3,678 30,485 30,567 37,279 -6,794 Net fee sharing -1,863 -14,481 -17,938 -15,355 +874 Other net income -1,193 -5,564 1,008 69 -5,633 Total net income 20,621 154,261 153,995 161,133 -6,871 Total net income w/o intragroup IRS* 20,805 157,934 154,001 161,133 -3,199 Total operating expenses 8,528 72,882 63,172 69,705 +3,177 Earnings before impairment 12,093 81,379 90,824 91,427 -10,049 Earnings before impairments w/o intragroup IRS* 12,277 85,052 90,829 91,427 -6,376 Impairment losses -301 6,036 1,460 8,898 -2,861 Income tax expense 2,224 14,090 16,670 15,582 -1,492 Net profit 10,171 61,253 72,695 66,948 -5,695 Net profit w/o intragroup IRS* 10,354 64,925 72,700 66,948 -2,022 Business volumes, EURm Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Loan portfolio (net) 4,875 4,875 4,554 4,798 +77 Deposits from customers 6,450 6,450 6,892 6,668 -218 incl. banking services' deposits 1,104 1,104 1,396 1,267 -163 Fin. intermediaries' payments, thousand pcs 8,067 66,810 52,068 57,608 +9,201 No of customers, thousand 514 514 479 na na Key figures Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Cost / income ratio (C/I) 41.4% 47.2% 41.0% 43.3% + 4.0 pp Net interest margin (NIM) 2.9% 2.5% 2.5% 2.4% + 0.1 pp * Interest rate swaps
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4 • Net profit was EUR 0.3m, down EUR 0.7m MoM. YTD net profit of EUR 3.8m is EUR 1.4m below plan, reflecting lower banking services fee income and higher impairment charges • Net interest income increased slightly MoM, supported by SME lending growth and disciplined management of liquidity and funding costs • Net fee and commission income declined by EUR 0.1m MoM on lower transaction volumes in banking services • Operating expenses remained stable and in line with financial plan • Loan portfolio exceeded EUR 1bn, growing by EUR 28m MoM. Higher-than-planned completions reduced the shortfall to financial plan and the pipeline of outstanding offers stands at EUR 94m • Deposits increased by EUR 106m MoM, in line with plan, with liquidity and funding costs actively managed LHV Bank Business volumes growth continued Financial results, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Net interest income 3,607 25,899 15,683 24,465 +1,433 Net fee and commission income 158 1,408 708 1,832 -424 Net fee sharing 1,860 14,450 17,961 15,355 -904 Other net income -435 -1,036 1,460 0 -1,036 Total net income 5,191 40,721 35,812 41,652 -931 Total operating expenses 4,509 33,925 31,162 33,505 +420 Earnings before impairment 682 6,796 4,650 8,147 -1,351 Impairment losses 125 1,449 983 1,177 +272 Income tax expense 307 1,504 923 1,743 -238 Net profit 250 3,843 2,745 5,228 -1,385 Business volumes, EURm Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Loan portfolio (net) 1,026 1,026 642 1,050 -24 Deposits from customers 1,456 1,456 1,036 1,454 +3 No of customers, thousand 31 31 30 na na Key figures Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Cost / income ratio (C/I) 86.9% 83.3% 87.0% 80.4% + 2.9 pp Net interest margin (NIM) 2.6% 2.5% 2.4% 2.4% + 0.2 pp
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5 • Net profit reached EUR 0.3m, up EUR 0.1m MoM. YTD net profit of EUR 0.2m is EUR 0.2m ahead of plan, supported by better-than-expected fund returns • Operating income and expenses were in line with plan • All II and III pillar funds generated positive returns in August • Pension fund Julge returned 2.6%, Ettevõtlik 2.5%, Tasakaalukas 1.0% and Rahulik 0.7%, while LHV Indeks gained 2.7% and remains the best-performing pension fund in Estonia over the first eight months • AUM increased by EUR 54m MoM, EUR 31m ahead of plan on strong fund returns • Active II pillar customers increased by 400, with outflows at the lowest level this year. Customer acquisition remains the key challenge Financial results, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Total net income 851 6,494 5,971 6,427 +67 Total operating expenses 709 5,662 4,694 5,624 +38 EBIT 141 832 1,277 803 +28 Net financial income 139 513 471 385 +128 Income tax expense 0 1,128 564 1,128 +0 Net profit 281 217 1,184 60 +156 Business volumes Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Assets under management, EURm 1,853 1,853 1,627 1,822 +31 Active customers of PII funds, thousand 105 105 109 108 -4 Key figures Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Cost / income ratio (C/I) 71.7% 80.8% 72.9% 82.6% - 1.7 pp Funds average return 2.4% 9.2% 7.0% 4.9% + 4.3 pp LHV Varahaldus Profit slightly ahead of financial plan
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6 • Net profit was EUR 0.3m, compared with a EUR 0.3m loss in July. The improvement was driven by growth in net earned premiums and fewer claims • Net loss ratio improved to 66.5% from 79.0% in July. YTD net loss ratio of 74.3% remains above plan due to elevated claims earlier in the year • Reported claims decreased by 650 MoM to 11,032 and claims paid decreased by EUR 0.5m to EUR 2.5m • Sales were in line with plan. Contract premiums written amounted to EUR 3.0m and YTD premiums are EUR 0.7m ahead of plan • Customer base stood at 244 thousand, with active policies up 2,800 to 333 thousand LHV Kindlustus Return to profit as claims normalised Financial results, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Insurance service revenue 3,906 29,470 27,009 29,200 +270 Commissions expense 599 3,068 2,900 3,599 -531 Gross incurred losses 2,516 20,861 17,282 18,910 +1,951 Operating expenses 433 4,286 3,581 4,157 +129 Insurance result without reinsurance 358 1,255 3,247 2,533 -1,279 Reinsurance result 122 1,244 1,118 838 +407 Total result from insurance activities 237 11 2,129 1,696 -1,685 Net other income 25 109 113 135 -26 Net profit 262 120 2,242 1,831 -1,711 Business volumes, EURt Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Contract premiums written 2,969 33,767 29,186 33,112 +655 No of customers, thousand 244 244 177 236 +9 Key figures Aug 26 YTD26 YTD25 FP YTD ∆ YTD FP Net loss ratio 66.5% 74.3% 66.4% 66.7% + 7.6 pp Net expense ratio 27.2% 25.6% 25.0% 28.2% - 2.6 pp
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AS LHV GROUP TARTU MNT 2, TALLINN 6 800 400 GROUP@LHV.EE LHV.EE Mihkel Torim LHV Group CEO mihkel.torim@lhv.ee Meelis Paakspuu LHV Group CFO meelis.paakspuu@lhv.ee Sten Hans Jakobsoo Head of Investor Relations and Corporate Development stenhans.jakobsoo@lhv.ee