Interim report
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AS LHV Group 2026 Q3 Interim Report
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 2 / 43 AS LHV Group 2026 Q3 Interim Report Interim Report January – September 2026 Summary of Results Q3 2026 in comparison with Q2 2026 • Net profit EUR 37.5m (EUR 24.7m), of which EUR 37.1m (EUR 24.1m) is attributable to owners of the parent • Earnings per share EUR 0.11 (EUR 0.07) • Net income EUR 80.1m (EUR 79.0m) • Operating expenses EUR 43.4m (EUR 43.6m) • Loan and bond provisions EUR -8.9m (EUR 5.8m) • Income tax expenses EUR 8.1m (EUR 5.0m) • Return on equity 19.3% (13.1%) • Capital adequacy 20.3% (20.9%) Q3 2026 in comparison with Q3 2025 • Net profit EUR 37.5m (EUR 26.3m), of which EUR 37.1m (EUR 25.7m) is attributable to owners of the parent • Earnings per share EUR 0.11 (EUR 0.08) • Net income EUR 80.1m (EUR 72.7m) • Operating expenses EUR 43.4 m (EUR 38.8m) • Loan and bond provisions EUR -8.9m (EUR 1.7m) • Income tax expenses EUR 8.1m (EUR 5.9m) • Return on equity 19.3% (14.3%) • Capital adequacy 20.3% (23.3%) Earnings per share and return on equity ratios are based on the profit attributed to the shareholders and equity of AS LHV Group and do not include non-controlling interest. 26.3 30.8 19.7 24.7 37.5 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 EURm Profit by quarters 0.08 0.09 0.06 0.07 0.11 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Basic earnings per share 14.3 16.1 10.7 13.1 19.3 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Return on equity 23.3 22.4 21.7 20.9 20.3 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Capital adequacy
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 3 / 43 AS LHV Group 2026 Q3 Interim Report T able of Contents Financial Summary 4 Operating Environment 7 The Group’s Liquidity, Capitalisation and Asset Quality 10 Overview of AS LHV Pank Consolidation Group 13 Overview of LHV Bank Limited 15 Overview of AS LHV Varahaldus 16 Overview of AS LHV Kindlustus 17 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 18 Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income 18 Condensed Consolidated Interim Statement of Financial Position 19 Condensed Consolidated Interim Statement of Cash Flows 20 Condensed Consolidated Interim Statement of Changes in Equity 21 Notes to the Condensed Consolidated Interim Financial Statements 22 NOTE 1 Accounting Policies 22 NOTE 2 Business Segments 22 NOTE 3 Risk Management 27 NOTE 4 Breakdown of Assets and Liabilities by Maturity Dates (undiscounted contractual cash flows) 27 NOTE 5 Open Foreign Currency Positions 29 NOTE 6 Fair Value of Financial Assets and Liabilities 30 NOTE 7 Br eakdown of Loan Portfolio by Economic Sectors and by Stages 32 NOTE 8 Net Interest Income 33 NOTE 9 Net Fee and Commission Income 34 NOTE 10 Operating Expenses 34 NOTE 11 Balances with the Central Bank, Credit Institutions and Investment Companies 35 NOTE 12 Deposits of Customers and Debt Securities in issue 35 NOTE 13 Accounts payable and other liabilities 36 NOTE 14 Contingent Liabilities 36 NOTE 15 Basic Earnings and Diluted Earnings Per Share 36 NOTE 16 Capital Management 37 NOTE 17 Transactions with related parties 38 NOTE 18 Tangible and intangible assets 39 NOTE 19 Subordinated debts 39 NOTE 20 Changes in impairments 40 Shareholders of AS LHV Group 41 Supervisory Boards and Management Boards of AS LHV Group and its Subsidiaries 42 Signatur es of the Management Board to the Condensed Consolidated Interim Report 43
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 4 / 43 AS LHV Group 2026 Q3 Interim Report Financial Summary The Group’s consolidated net profit in Q3 2026 was EUR 37.5 million, having grown by EUR 12.8 million compared to Q2 2026 and by EUR 11.2 million compared to Q3 2025. The profit for the Group’s shareholders was EUR 37.1 million in Q3 2026, which was EUR 13 million more than in Q2 2026. The Group’s Q3 2026 consolidated net income was EUR 80.1 million, which increased by EUR 1.1 million compared to Q2 2026 and by EUR 7.5 million compared to Q3 2025. The Group’s net interest income increased by 10% in Q3 2026 compared to Q2 2026, amounting to EUR 68.8 million (EUR 62.5 million in Q2 2026). The Group’s net interest income grew by 24% compared to Q3 2025. Net service fee income grew by 15%, amounting to EUR 16.8 million (EUR 14.6 million in Q2 2026). In total, the Group’s net income increased by 1.4% in Q3 2026 compared to Q2 2026, amounting to EUR 80.1 million (EUR 79 million in Q2 2026). Operating expenses amounted to EUR 43.4 million in Q3, having decreased by EUR 0.2 million compared to Q2 2026 and grown by EUR 4.7 million compared to Q3 2025. The Group’s Q3 operating profit was EUR 36.7 million (EUR 35.4 million in Q2 2026). Write-downs were reduced by EUR 8.9 million in Q3 (an increase of EUR 5.8 million in Q2 2026). Income tax expense on future disbursements of dividends by subsidiaries at the consolidated level was EUR 0.4 million in Q3. The Group’s Q3 net profit was EUR 37.5 million (EUR 24.7 million in Q2 2026). Compared to Q3 2025, the Group’s net interest income grew by 24% and the net service fee income grew by 10%. The return on equity owned by LHV’s shareholders was 19.3% in Q3 2026, which was 6.2 percentage points higher than in Q2 2026 (13.1%) and 5 percentage points higher than in Q3 2025 (14.3%). The Group’s loan volume grew to EUR 5,951 million by the end of Q3 (EUR 5,768 million in Q2 2026), having grown by 3% or EUR 183 million in a quarter (a growth of EUR 183 million in Q2 2026). Compared to Q3 2025, the Group’s loan volume has grown by 14%. The volume of deposits increased by EUR 178 million in a quarter (a decrease of EUR 245 million in Q2 2026). The volume of deposits of clients who are financial intermediaries decreased by EUR 31 million. The volume of deposits of ordinary clients increased by EUR 164 million and the volume of platform deposits increased by EUR 45 million. Of the deposits, EUR 5,149 million (EUR 5,131 million in Q2 2026) were call deposits, EUR 1,503 million (EUR 1,389 million in Q2) term deposits and EUR 1,083 million (EUR 1,038 million in Q2) platform deposits. By business units, AS LHV Pank’s consolidated net profit amounted to EUR 33.7 million in Q3 and that of AS LHV Varahaldus amounted to EUR 0.5 million. AS LHV Kindlustus earned a net profit of EUR 0.3 million. The net profit of LHV Bank was EUR 1.4 million. The net loss of LHV Paytech was EUR 0.2 million. Viewed separately, LHV Group made a net loss of EUR 1.6 million. While the second quarter was slightly weaker than anticipated for the Group, we are firmly ahead of our financial plans in the third quarter. Our most significant source of revenue - interest income - is exceeding budget projections, driven by higher-than-expected market interest rates and strong demand for loans. Furthermore, fee and commission income has recovered from its low point, supported by a resurgence in robust client activity. The quality of our loan portfolio remains solid; previous forward-looking, model-based and client-specific impairment provisions have not materialized into actual losses, allowing us to make positive adjustments in the income statement. Looking ahead, we remain optimistic about our performance. Key indicators - both at the macroeconomic level and within the company - are performing better than we had factored into our financial planning. Consequently, we are confident that we will meet the targets set out in our financial plan. 9,530 10,233 9,984 9,652 10,101 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 EURm Assets Loans Financial investments Cash and other
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 5 / 43 AS LHV Group 2026 Q3 Interim Report With regard to subsidiaries: The Bank’s net profit at the consolidated level was EUR 33.7 million in Q3 2026, which is EUR 9.5 million more than the result in the previous quarter (EUR 24.3 million in Q2 2026) and EUR 9.3 million more than the net profit of Q3 2025. The number of the Bank’s clients grew by 8,800 during the quarter (8,000 in Q2 2026) and the total number of the Bank’s clients is 517,000. The Bank’s loan portfolio grew by EUR 92 million in Q3 (EUR 114 million in Q2 2026), reaching EUR 4,913 million. The deposits of the Bank’s clients increased by EUR 192 million in Q3, while the balance of the deposits of payment intermediaries decreased by EUR 37 million, platform deposits decreased by EUR 83 million, and the deposits of the remaining clients grew by EUR 314 million. The total volume of deposits was EUR 6,419 million at the end of Q3. As at the end of Q3 2026, the net loan portfolio of LHV Bank amounted to EUR 1,032 million and the volume of deposits was EUR 1,506.6 million. The net profit of LHV Bank was EUR 1.4 million in Q3 2026 (a profit of EUR 1.4 million in Q2 2026). The net income of LHV Bank was EUR 17.1 million in Q3 2026 (EUR 14.8 million in Q2 2026). The net profit of LHV Varahaldus was EUR 0.5 million in Q3 2026 (EUR 0.4 million in Q2 2026). The service fee income of LHV Varahaldus amounted to EUR 2.5 million (EUR 2.4 million in Q2 2026). The operating expenses of LHV Varahaldus were EUR 1.8 million in Q3 2026 (EUR 2 million in Q2 2026). Expenses related to non-current assets (including depreciation on client agreements) were EUR 0.3 million in Q3 2026 (EUR 0.3 million in Q2 2026). 0 250,000 500,000 750,000 1,000,000 1,250,000 1,500,000 1,750,000 2,000,000 2,250,000 2,500,000 2,750,000 3,000,000 3,250,000 3,500,000 3,750,000 4,000,000 4,250,000 4,500,000 -15 -10 -5 0 5 10 15 20 25 30 09.2023 10.2023 11.2023 12.2023 01.2024 02.2024 03.2024 04.2024 05.2024 06.2024 07.2024 08.2024 09.2024 10.2024 11.2024 12.2024 01.2025 02.2025 03.2025 04.2025 05.2025 06.2025 07.2025 08.2025 09.2025 10.2025 11.2025 12.2025 01.2026 02.2026 03.2026 04.2026 05.2026 06.2026 07.2026 08.2026 09.2026 Price change % LHV Group share performance Turnover OMX Baltic Benchmark GI OMX Tallinn LHV Group The total volume of funds managed by LHV increased by EUR 25 million in a quarter (an increase of EUR 72 million in Q2 2026). The number of active 2nd pillar clients decreased by 200 in a quarter (a decrease of 800 in Q2 2026). The net profit of LHV Kindlustus was EUR 0.3 million in Q3 2026 (EUR 0.79 million in Q2 2026). The volume of gross premiums decreased by EUR 0.7 million in the quarter, reaching EUR 11 million. Net income from insurance activities at LHV Kindlustus decreased by EUR 0.5 million in the quarter, to EUR 0.2 million. There is only one class of shares issued by LHV, each share gives 1 voting right. The shares of LHV Group is traded on NASDAQ Tallinn main list since May 2016. Graph below presents LHV Group share performance against OMX Tallinn index and OMX Baltics benchmark index over last three years. LHV Group share has not performed good against both indexes and has decreased by 10.88%, when comparison indexes have increased by 20.33% and 26.33% respectively. LHV Group share price has been 3.28 euros in the end of third quarter and based on the stock price, LHV’s market value was EUR 1,075 million. LHV Group market cap has decreased EUR 26.2 million within last quarter. 113,985 86,234 -1,171 -1,156 -1,983 785 -799 81,910 9M 2024 9M 2025 LHV Pank LHV Varahaldus LHV Kindlustus LHV Bank Other 9M 2026 Net profit change (EURt)
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 6 / 43 AS LHV Group 2026 Q3 Interim Report Business volumes EUR million Q3 2026 Q2 2026 Quarter over quarter Q3 2025 Year over year Loan portfolio 5,951.0 5,767.9 3% 5,234.3 14% Financial investments 1,059.7 1,053.3 1% 396.9 167% Deposits of customers 7,735.3 7,557.3 2% 7,452.9 4% incl. deposits of financial intermediates 1,520.0 1,566.1 -3% 1,610.3 -6% Equity (including minority interest) 793.6 758.2 5% 737.1 8% Equity (owners' share) 785.6 750.7 5% 728.6 8% Volume of funds managed 1,815.6 1,790.6 1% 1,619.8 12% Client securities 4,513.6 4,427.6 2% 4,075.8 11% Income Statement EUR million Q3 2026 Q2 2026 Quarter over quarter Q3 2025 Year over year 9M 2026 9M 2025 Year over year Net interest income 68.81 62.48 10% 55.53 24% 190.57 175.18 9% Net fee and commission income 16.80 14.64 15% 15.29 10% 46.14 44.95 3% Other financial income -5.77 1.17 NA 1.17 NA -4.29 3.53 NA Net insurance income 0.22 0.74 -70% 0.63 -65% 0.27 2.29 -88% Total net operating income 80.06 79.03 1% 72.62 10% 232.69 225.95 3% Other income 0.06 -0.03 NA 0.04 50% 0.10 0.04 150% Operating expenses -43.43 -43.59 0% -38.76 12% -132.59 -116.81 14% Loan and bond portfolio gains/(-losses) 8.89 -5.77 NA -1.67 NA 1.83 -3.19 NA Income tax expenses -8.05 -4.96 62% -5.92 36% -20.13 -19.75 2% Net profit 37.53 24.69 52% 26.31 43% 81.91 86.23 -5% Including attributable to owners of the parent 37.08 24.11 54% 25.70 44% 81.04 84.32 -4% Ratios EUR million Q3 2026 Q2 2026 Quarter over quarter Q3 2025 Year over year 9M 2026 9M 2025 Year over year Average equity (attributable to owners of the parent) 768.2 736.0 32.2 718.0 50.2 771.8 699.4 72.4 Return on equity (ROE) % 19.3 13.1 6.2 14.3 5.0 14.0 16.1 -2.1 Return on assets (ROA) % 1.5 1.0 0.5 1.1 0.4 1.1 1.3 -0.2 Interest-bearing assets, average 9,815.8 9,768.9 46.9 9,416.4 399.4 10,109.8 9,095.2 1,014.6 Net interest margin (NIM) % 2.80 2.56 0.24 2.36 0.44 2.51 2.57 -0.06 Price spread (SPREAD) % 2.57 2.34 0.16 2.16 0.41 2.31 2.37 -0.06 Cost/income ratio % 54.2 55.2 -1.0 53.3 0.9 57.0 51.7 5.3 Profit attributable to owners before income tax 45.1 29.0 16.1 31.5 13.6 100.7 103.6 -2.9 Explanations to ratios (quarterly ratios have been expressed on an annualised basis) Average equity (attributable to owners of the parent) = (equity as at the end of the reporting period + equity as at the end of the previous reporting period) / 2 Return on equity (ROE) = net profit for the quarter (share of owners of the parent) / average equity (attributable to owners of the parent) *100 Return on assets (ROA) = net profit for the quarter (share of owners of the parent) / average assets*100 Net interest margin (NIM) = net interest income / interest-bearing assets, average *100 Price spread (SPREAD) = interest yield from interest-bearing assets – cost of external capital Cost/income ratio = total operating cost / total income *100
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 7 / 43 AS LHV Group 2026 Q3 Interim Report Operating Envir onment 1 IMF. World Economic Outlook. October 2026. 2 Data drawn from the databases of the Office for National Statistics and Bank of England. 3 ECB. ECB staff macroeconomic projections for the euro area. September 2026. The third quarter of 2026 was characterized by deepening geopolitical rifts and the resulting volatility on energy markets. The fact that the Strait of Hormuz is still closed is increasing inflationary risks in the near term, forcing central banks to maintain a restrictive monetary policy stance. At the same time, governments are constrained by high debt levels and large deficits, with little room to cushion consumers and companies against potential new price shocks. The International Monetary Fund (IMF) 1 is calling for 3.1% growth of the world economy in 2026 followed by 3.4% in 2027. The main sources of the growth are investments into the technology sector and artificial intelligence, the adaptability of consumer spending and, at certain junctures, supportive budgetary and monetary policy. Regional differences are great, however: the strongest growth is expected from energy exporters and countries participating in the technology value chain, while energy importers and economies less involved in technological advances will contend with deepening structural weaknesses. The United States (US) economy grew 2.2% in Q2 and the forecast for GDP growth for the year as a whole is 2.3%. Since inflation accelerated to 3.4% in August and is expected to continue to increase, the Federal Reserve decided to raise the prime interest rate to 3.75–4.00% in September. Asia is still the main driver of the global economy, bolstered by strong internal demand, India’s extensive government investments and, in China, stimulus measures and strong demand for semiconductors. In the longer term, the region will have to find a solution to structural problems and the impacts of trade restrictions. Volatility on financial markets eased toward the end of the quarter; however, the upward momentum seen on stock markets in the summer abated in September. The S&P 500 rose 2.0% quarter-over-quarter. European stock markets ended the quarter down slightly, as reflected by the 1.1% decline in the STOXX Europe 600 exchange, while the FTSE managed to close up 1.0% for the quarter. Japan’s Nikkei 225 displayed a strong rise in June, but shed 4.7% by the end of September due to a correction in the technology sector and cooling of demand for semiconductors. China’s SSE Composite declined in August and September, closing Q3 down 6.2%. Foreign exchange and bond markets showed clearer trends. The price of gold opened Q3 around 4025 USD/oz and closed the quarter at a solid 4,156 USD/oz. The price of Brent crude oil responded sharply to the escalating tensions between US and Iran, fluctuating between 72 and 109 USD/barrel during the quarter and closing the period slightly under 100 USD. The return on long-term government bonds rose sharply. At the end of September, the return on US Treasury 10-year bonds set the highest mark of recent decades, 5.3%. French government bonds were under strong pressure from the budget deficit and political uncertainty, boosting the return on the country’s 10-year government bond to close to 4.85%. During the quarter, the euro strengthened before suddenly falling back, amid a wide interest rate differential between the US and the Eurozone, pressure from energy prices, France’s budget woes and the general sluggish Eurozone economy. In September, the euro weakened significantly, closing at 1.1341 USD on the last day of the quarter. The UK 2 economy grew 1.4% year-over-year during the quarter. The growth was supported by strong export and service and construction sectors. The industrial sector, including public utility services and waste handling, exerted a negative pull. As to demand, strong consumer spending and investments into fixed assets, government spending fell somewhat. Inflation reached 3.1% in August, reflecting higher prices of fuel, transport and housing services. The state labour market remained stable, with unemployment at 4.9% in the period from May to July and the average real wage growing 1.3% year-over-year. The Bank of England decided to keep the prime interest rate 3.75%, but inflation is forecasted to remain at an average 3.1% for 2026 as a whole. Economic growth for the UK for the year overall is expected to be 1.2%. The Eurozone 3 economy showed relatively good resilience in the face of the energy shocks from the Middle East conflict. In Q2, real growth sped up to 0.4% thanks to artificial intelligence (AI) investments and stronger confidence in the industrial sector, even though the summer drought and heat waves may temporarily slow Q3 growth to 0.2%. Economic growth for 2026 as a whole is forecasted to be 0.9% followed by faster growth thereafter. The main sources of the growth will be consumer spending, state defence and infrastructure investments and spending related to AI. Yet at the same time, pressure will come from the US’s tariffs and geopolitical uncertainty. The labour market continues to enjoy broad- based strength, and unemployment should drop to 5.9% by 2028. Eurozone inflation will rise to 3.0% for a period in 2026 due to the shock of fuel prices, peaking at 3.6% in Q4. Inflation should ease off to the European Central Bank’s (ECB) 2.0% target by 2028. Due to inflationary pressure, the ECB increased the deposit facility rate to 2.50% and the main refinancing operations rate to 2.65%. The six- month Euribor rate, which is important for the Estonian loan market, rose to 3.0% by the end of September, reflecting the central bank’s more stringent stance and the market participants’ expectation of persistently high inflation. The 12-month Euribor also continued rising, reaching around 3.3% by the end of the quarter.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 8 / 43 AS LHV Group 2026 Q3 Interim Report The economic growth rates for Estonia’s main trading partners and whether it is positive or negative are impacted primarily by high energy prices and global uncertainty, but developments on target markets are diverse. The Swedish economy boasted strong growth in Q2, setting a year-over-year mark of 3.2%. The growth is supported by strong internal demand and recovering industrial output. Total investments remain at an all-time high thanks to the influence of investments into AI and national defence. Investments into housing have also started recovering from a low. The Finnish economy grew at a moderate pace in Q2 – 1.4% year-over-year. The Finnish economy is supported by private-sector investments into non-residential construction, such as industrial equipment and data centre developments. National defence procurements are increasing public sector spending, but the direct impact of these on domestic production is low due to the orientation to import. The outlook for residential construction remains sluggish. Lithuanian economic growth was strong at 3.9%, influenced by real income growth, and growth of consumption due to pension reform. The Lithuanian economy should also be supported by the active adoption of EU support funds and livelier external demand. At the same time, the variation between sectors is noteworthy in Lithuania. The Latvian economy grew by 3.4% in Q2. External shocks will act as a brake on future development, but similarly to neighbours, the governments’ investments into strengthening defensive capability will bolster the economy, similarly to Latvia’s neighbours. As for the Estonian 4 economy, recovery continued in Q2 of 2026 and growth became broader-based. GDP increased by 1.8% year-over- year. The main engine behind the growth was strong internal demand; export also showed signs of picking up, but net export still had a negative influence on the economy. Private consumption grew by 1.6%, being temporarily bolstered by tax amendments at the start of the year. Although foodstuff sales volumes dropped in real terms by 0.6%, and other consumer spending experienced mild, stable growth. Investing activity by businesses remained slow, dropping by 6.1% year- over-year, and also failed to perk up in Q3. The volume of investments were mainly supported by state defence investments. Value-added generated by companies grew by 1.8% in inflation-adjusted prices, although in some sectors, the declining trend continued in sectors such as energy, retail, information and communications and real estate. The monthly data for Q3 suggest something of a slowdown in export growth (at 3.0% in August) while retail volumes finally turned to growth. Although industrial output volumes as a whole grew, the number of subsectors that contributed to the growth began to decrease in the second half of the quarter. At the same time, production increased markedly in regard to electrical equipment, machinery and equipment, metal products and coke and refined petroleum products. Inflation fell faster than expected at first in Q3, dropping to 1.5% in August, but accelerated to 3.5% in September. The price increase was mainly the result of rising costs related to transport and housing, which was offset to some degree by falling food and non-alcoholic beverage prices. The labour market moved toward stability and unemployment fell to 6.6% in Q2. Although new job creation was modest for now, Estonian Unemployment Insurance Fund data show a gentle increase in the number of active job offers. The growth of the average gross wage stayed level at 5.5% in Q2, ensuring increasing purchasing power. 4 Data for Estonia are drawn from the databases of Statistics Estonia, Eesti Pank and the Estonian Unemployment Insurance Fund. The loan market remained active. Borrowing demand from non-financial companies was mainly concentrated in financing energy, defence industry and infrastructure projects, reflecting the focus on public procurements and structural investments. As of the end of August, the loan portfolio of non-financial companies was up 12.3% year-over- year; for households, the respective increase was 10.3%. The home loan portfolio showed stable growth of around 10%, while the annual consumer loan growth rate slowed to 0.5% in August. Availability of loans remained at a good level. The average margins on loans to companies rose somewhat and stayed between 2.25% and 2.70%. Margins on home loans remained at a stable level of approximately 1.5%. Growth of deposits remained unwavering. Households’ deposits grew 7.5% year-over-year in August; those of companies, by 8.8%. The general rise in interest rates also showed up in interest rates on deposits. For term deposits up to 3 months, interest rates rose to 2.1% for non-financial companies and to 1.9% for individuals. The interest rates on deposits with a more than 6 month term averaged approximately 2.2% in both groups. The quality of the loan portfolio as a whole remained strong. The share of loans to non-financial companies more than 60 days in arrears rose slightly, reaching 0.62% by August; historically, though, this is still a very low level. The quality of loans to domestic households remained unchanged and the share of loans more than 60 days in arrears was 0.39%. A slight deteriorating trend continued for consumer loans, where the share of loans in arrears grew from 2.43% to 2.92% year over year. In the second half of 2026, the Estonian economy is expected to continue on a moderate growth and slightly rising inflation track. Real GDP is forecasted to grow by 2.2% in 2026 and 2.4% in 2027. The price rise will remain fairly rapid in H2, and wind up at an average 3.3% for 2026 as a whole, due to the influence of rising energy prices and wage pressure. Inflation should fall to 2.8% in 2027. Investment activity for companies should start recovering at the end of 2026, driven by improving external demand and business volumes, and developing a head of steam in 2027. Estonian exports are forecasted to grow 2.3% this year and continue to grow in years to come, supported by strong internal demand in Latvia, Lithuania and Sweden and the Finnish economy returning to growth. Although the economy as a whole is growing; recruitment of new employees will remain cautious during the moderate recovery. Unemployment will stay at 6.5% in 2027, after which it should start gradually decreasing. Wage growth is kept in check by the need to retain balance between labour productivity and inflation. In spite of this, the baseline scenario calls for increased real purchasing power.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 9 / 43 AS LHV Group 2026 Q3 Interim Report The main risks continue to be linked to developments in the Middle East and global energy markets. A further escalation of the conflict or a new jump in oil and gas prices would dent business confidence, curtail investment and consumption, and fuel inflation in both Estonia and its main export markets. In the positive scenario, external demand could recover faster than expected, providing solid support for the Estonian export sectors and investments. Thus, the forecasts mentioned herein should be viewed with a certain amount of caution, as they were based on the best available information at the time at which they were drawn up and could change in light of new geopolitical events. This scenario assumes that the price of Brent crude will remain at a level of 95 USD per barrel in Q4 before falling to 82 USD/barrel in Q1 of 2027 and to 75 USD/barrel by the end of 2027. The European TTF natural gas price is expected to average 60 euros per MWh in Q4, falling to 55 euros/MWh in Q1 of 2027 and to 40 euros/MWh by the end of 2027.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 10 / 43 AS LHV Group 2026 Q3 Interim Report The Group’s Liquidity, Capitalisation and Asset Quality As at 30 September 2026, the Group’s own funds stood at EUR 902.3 million (31 December 2025: EUR 864.1 million). LHV Group own funds are calculated based on regulative requirements. Compared to Group’s internal capital adequacy ratio target 20.0%, the Group is capitalised good enough as at the end of the reporting period, with the capital adequacy ratio is amounting to 20.25% (31 December 2025: 22.4%). In addition to total capital adequacy targets the Group has also set internal targets for the core Tier 1 capital adequacy ratio to 15.3% and Tier 1 capital adequacy ratio to 17.3%. The internal targets were approved in December 2025 by the Group’s Supervisory Board together with establishment of a new risk appetite. LHV Group includes only that part of the current year’s profit for which the European Central Bank has given permission as part of its own funds. Obtaining the permit is done with a time lag, but it is also applied to the reporting quarter afterwards, which is why the capitalization ratios also change, and the Group reflects them in the next report. A similar recalculation was carried out for the first quarters of 2024 and 2025, where the ECB’s on-site inspection revealed differences in the valuation of risk-weighted assets. All given points in time have been recalculated and both internal and external capital adequacy requirements have been met. The minimum requirement for own funds and eligible liabilities (MREL) is a building block of the resolution plan and LHV has to maintain sufficient own funds and qualifying liabilities which can be used to cover losses in resolution planning. LHV Group has two separate MREL ratios on the consolidation group level, of which MREL-TREA is calculated based on total risk weighted assets. MREL-LRE is calculated based on total assets. Each year regulator reviews the targets and recalibrates the requirements, if needed. As at the end of Q3 2026 the regulatory targets are 24.59% (MREL-TREA) and 5.91% (MREL-LRE). Group needs to meet higher MREL-TREA target to distribute dividends. This target is equal to sum of regulatory minimum requirement and combined buffer which is 30.59%. As at 30 September 2026, MREL-TREA ratio was 35.04% (31.12.2025: 34.73%) and MREL-LRE was 14.98% (31.12.2025: 12.82%). The Group’s liquidity coverage ratio (LCR), as defined by the Basel Committee, stood at 173.9% as at the end of September (31 December 2025: 185.0%). Financial intermediates’ deposits in Bank are covered 100% with liquid assets. Excluding the financial intermediates deposits the Groups LCR is 297.0% (31.12.2025: 402.7%). The Group recognises cash and bond portfolios as liquidity buffers. These accounted for 40% of the balance sheet (31 December 2025: 46%). The ratio of loans to deposits stood at 77% as at the end of the third quarter (31.12.2025: 68%). Group’s maturity structure is presented in Note 4. 867 864 862 888 902 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Own funds Tier1 own funds Tier2 own funds 3,724 3,860 3,971 4,181 4,455 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Risk-weighted assets Creditrisk Operating risk Other risks
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 11 / 43 AS LHV Group 2026 Q3 Interim Report Capital base 30.09.2026 31.12.2025 31.12.2024 Paid-in share capital 32,786 32,786 32,419 Share premium 154,593 154,593 146,958 Statutory reserves transferred from net profit 4,713 4,713 4,713 Other reserves 644 -2,529 2,440 Retained earnings 507,300 448,314 320,757 Intangible assets (subtracted) -16,779 -18,787 -21,834 Net profit for the reporting period (COREP) 21,787 114,265 148,969 Other adjustments -659 -2 -4 Dividends to be distributed 0 -55,736 -29,177 Deferred tax assets that rely on future profitability and do not arise from temporary differences net of associated tax liabilities 0 0 -971 Insufficient coverage for non-performing exposures -752 -204 0 CET1 capital elements or deductions -16,000 -13,500 0 CET1 capital elements or deductions (other) -489 0 0 CET1 instruments of financial sector entities where the institution has a significant investment -6,366 -6,023 -4,313 CET1 instruments of financial sector entities where the institution has not a significant investment 0 0 0 Total Core Tier 1 capital 680,778 657,890 599,957 Additional Tier 1 capital 86,657 70,258 35,314 Total Tier 1 capital 767,435 728,148 635,271 Subordinated debt 134,891 135,924 90,196 Total Tier 2 capital 134,891 135,924 90,196 Net own funds for capital adequacy 902,326 864,072 725,467 Risk weighted assets Central governments and central bank under standard method 0 0 0 Credit institutions and investment companies under standard method 15,167 7,423 6,037 Companies under standard method 953,060 651,412 1,665,901 Retail claims under standard method 244,436 197,284 266,859 Public sector under standard method 0 0 0 Housing real estate under standard method 0 0 817,613 Secured by mortgages on immovable property and ADC 2,486,229 2,349,374 0 Overdue claims under standard methods 81,720 65,988 21,513 Investment funds’ shares under standard method 0 0 6,706 Other assets under standard method 71,595 42,118 289,432 Total risk weighted assets for covering the credit risk and counterparty credit risk 3,852,207 3,313,599 3,074,061 Foreign currency risk 173,271 122,105 89,260 Interest position risk 0 0 0 Equity portfolio risk 220 291 1,176 Credit valuation adjustment risk 15,042 9,694 3,526 Operational risk under base method 414,295 414,295 385,580 Other risks 28 0 0 Total risk weighted assets 4,455,063 3,859,984 3,553,603 Capital adequacy (%) 20.25 22.39 20.41 Tier 1 capital ratio (%) 17.23 18.86 17.88 Core Tier 1 capital ratio (%) 15.28 17.04 16.88
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 12 / 43 AS LHV Group 2026 Q3 Interim Report The credit quality of the group remained at a good level. A loan discount reserve of 38.9 million euros was formed in the balance sheet at the end of September to cover estimated loan losses. As of the end of the third quarter, the fair value of the collateral of the loan portfolio is 5.8% higher than the book value of the loan portfolio. Loan portfolio distribution Over-collateralized loans Under-collateralized loans Total Carrying value Fair value of collateral Carrying value Fair value of collateral Carrying value Fair value of collateral Stage 1 2,843,094 4,042,755 2,485,245 1,740,024 5,328,339 5,782,779 Corporate Lending 1,474,359 2,657,434 1,668,619 1,146,444 3,142,978 3,803,878 Consumer Financing 34 34 90,246 0 90,280 34 Investment Financing 9,133 21,410 1,955 2,853 11,088 24,263 Leasing 19,813 19,811 130,112 95,224 149,925 115,035 Private Lending 1,339,755 1,344,066 594,313 495,503 1,934,068 1,839,569 Stage 2 197,070 211,214 353,236 226,027 550,306 437,241 Corporate Lending 85,219 99,292 237,581 161,307 322,800 260,599 Consumer Financing 1 1 21,465 0 21,466 1 Investment Financing 59 153 196 1,046 255 1,199 Leasing 4,886 4,885 29,583 22,714 34,469 27,599 Private Lending 106,905 106,883 64,411 40,960 171,316 147,843 Stage 3 31,401 46,248 40,995 31,395 72,396 77,643 Corporate Lending 25,874 40,721 37,519 29,511 63,393 70,232 Consumer Financing 0 0 1,307 0 1,307 0 Investment Financing 0 0 1 0 1 0 Leasing 398 398 1,892 1,620 2,290 2,018 Private Lending 5,129 5,129 276 264 5,405 5,393
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 13 / 43 AS LHV Group 2026 Q3 Interim Report Overview of AS LHV Pank Consolidation Group • Net profit EUR 33.7 million • Loan portfolio increased by 92 million euros in the quarter EUR million Q3 2026 Q2 2026 Quarter over quarter Q3 2025 Year over year 9M 2026 9M 2025 Year over year Net interest income 59.50 53.70 11% 48.94 22% 163.83 156.15 5% Net fee and commission income 13.47 11.78 14% 11.67 15% 36.63 33.98 8% Net fee sharing -5.24 -5.31 -1% -6.03 -13% -16.12 -19.89 -19% Other financial income -10.15 2.16 NA 0.42 NA -10.40 1.24 NA Total net operating income 57.58 62.33 -8% 55.00 5% 173.93 171.49 1% Other income 0.06 -0.02 NA 0.03 123% 0.07 0.12 -42% Operating expenses -26.85 -28.26 -5% -23.72 13% -82.52 -71.83 15% Loan and bond portfolio gains/(-losses) 10.37 -5.55 NA -1.42 NA 4.57 -2.26 NA Income tax expenses -7.41 -4.22 76% -5.40 37% -17.83 -18.13 -2% Net profit 33.75 24.29 39% 24.49 38% 78.22 79.39 -1% Loan portfolio 4,913 4,821 2% 4,574 7% Financial investments 1,034 1,027 1% 381 171% Deposits of customers 6,419 6,226 3% 6,640 -3% incl. deposits of financial entities 1,587 1,507 5% 1,659 -4% Subordinated liabilities 220 220 0% 221 0% Equity 651 596 9% 553 18% The bank’s business volumes continued to grow in Q3. Deposits increased by EUR 192 million during the quarter to EUR 6419 million; and loans, by EUR 92 million to EUR 4913 million. The growth of deposits mainly came from corporate clients. Platform deposits were reduced further and as at the end of the quarter, the bank’s deposits raised from platforms totalled only in about twenty million euros. One- third of the growth of the loan portfolio could be attributed to corporate loans and two-thirds to home loans. During the quarter, a major problem loan was resolved and loan write-downs were reduced by EUR 10 million. The bank’s financial results improved over the quarter. In September, the bank earned its largest profit in history, and net profit for the quarter was EUR 34 million. 4,574 4,683 4,707 4,821 4,913 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 EURm Loan portfolio (net) Corporate loans Retail loans Loans to related parties LHV Pank earned net interest income of EUR 59.5 million and EUR 13.5 million in net service fee income in Q3. Net financial expenses amounted to EUR 10.1 million in Q3. In total, the Bank’s income was EUR 57.7 million and expenses were EUR 26.9 million. Net income rose by 5% and expenses increased by 13% over the year. The discount expense of loans and bonds decreased by EUR 10.4 million in Q3. We are keeping a very close eye on the developments in the credit portfolio, paying special attention to changes in payment behaviour, area-specific risks, and the dynamics of the clients’ financial standing. Overall, the effect of the Q3 discounts of loans and bonds was positive, significantly influenced by the reversal of a previously recognized provision related to a large corporate customer. LHV Pank calculates an 18% advance income tax and the respective income tax expense was EUR 7.2 million in Q3. Income tax expense on future disbursements of dividends by subsidiaries at the consolidated level was EUR 0.2 million in Q3.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 14 / 43 AS LHV Group 2026 Q3 Interim Report The Bank’s Q3 profit amounted to EUR 33.7 million, which is 39% more than in Q2 2026 (24.3) and 38% more than in Q3 2025 (24.5). Income from settlements, currency exchange and investment banking services and investment services contribute the most into service fees. The total volume of the Bank’s loan portfolio reached EUR 4,913 million by the end of Q3 (Q2 2026: EUR 4,821 million). The volume of the portfolio grew by 2% during the quarter. The volume of loans grew by EUR 92 million in Q3 (Q2 2026: a growth of EUR 114 million). The net retail loan portfolio grew by 3% during the quarter, reaching EUR 2,304 million (Q2 2026: EUR 2,240 million). The net corporate loan portfolio grew by 1% during the quarter, reaching EUR 2,609 million (Q2 2026: EUR 2,580 million). The corporate credit portfolio, which includes loans and guarantees, grew EUR 63.9 million over the year (+2%) with a quarter-over-quarter growth of EUR 31.8 million (+1%). Loans granted to companies in the sector of real estate related activities were the largest source of growth, growing by EUR 66.9 million (+6%) in a year. Next came loans to companies in the transport and warehousing sector, which grew by EUR 31.2 million from the previous year (+45%) and loans issued to the construction sector, which grew by EUR 24.3 million (+15%) over the year. Compared to Q2 2026, the portfolio growth was most influenced by the sector engaged in real estate activities (quarterly growth EUR 8.1 million; +1%), followed by the sector engaged in water supply, sewerage, waste and contamination management (EUR 7.8 million; +16%) and the sector engaged in finance and insurance activities (EUR 5.8 million; +4%). The majority of corporate loans were granted to the real estate sector, which makes up 42% of the Bank’s corporate loan portfolio. Of real estate loans, the principal part was issued to projects with high-quality rental streams, with real estate developments making up a much smaller share. Most of the financed real estate developments are located in Tallinn, while projects located in other major Estonian cities and in the vicinity of Tallinn made up about 25% of development projects. LHV’s market share of new development financing in Tallinn made up about one-fourth by estimate at the end of Q3 2026. The LHV real estate development portfolio is well-positioned in case market trends should change – the financed developments are in good locations and the risk to planned sales price ratio averages 50%. After the real estate sector, the largest amount of credit has been issued to companies in the manufacturing industry (10%) and to companies in the construction sector (7%). Of sectors that usually run a higher credit risk, construction makes up 7%, transport and warehousing 4% and HoReCa 4% of the total volume of the portfolio. The volume of deposits at the Bank increased by EUR 192 million from the previous quarter and stood at EUR 6,419 million at the end of the quarter (Q2 2026: EUR 6 226 million). The volume of payment intermediaries’ deposits dropped by EUR 37 million during the quarter. Of the deposits, EUR 4,998 million were call deposits, EUR 1,394 million term deposits and EUR 26 million platform deposits. The volume of individuals’ deposits was EUR 1 820 million as at the end of the quarter, having decreased by 3,1% since the previous quarter. The Bank’s expense-income ratio was 46.6% in Q3, increasing by 3.5 percentage points from Q3 2025 (43.1%). One of the most important technological advances in Q3 was LHV’s MCP server, introduced to clients in July, which allows bank accounts to be integrated with artifi cial-intelligence applications. LHV was the first bank in Europe to adopt such a solution. Initially, the solution enabled clients to harness AI to use their account information, analyse expenditures and gain an overview of their financial affairs, but the possibilities were expanded further as the quarter progressed. This is the first step in taking banking services beyond traditional bank channels. In the longer term, it will make it possible to provide bank services through AI agents as well. We launched new automated savings tool Moneyplan, designed to help clients build regular wealth-accumulation habits. In August, the bank began issuing student loans for the new academic year on terms more favourable than before. The bank offered the market’s lowest interest rate on student loans – 1.45% plus the six-month Euribor, and made loans more accessible, waiving the requirement of a co-signer and real estate collateral. The maximum repayment term was extended to 25 years. The change supports the bank’s goal of increasing the number of younger clients and strengthening long-term customer relationships. Also in Q3, the implementation and supplementation of the product- based management model adopted in Q2 continued, The goal of this process is to shape smaller product teams with a clearer responsibilities, where product managers and developers work toward common goals. The changes support faster product development, clearer lines of responsibility and more effective collaboration between business and technology teams. In September, the bank announced a decision to close the Tartu and Pärnu bank branches, premised on the changing customer banking practices and a continuing drop-off in visits to brick-and-mortar branches. The bank will continue investing into digital customer service channels that allow all of the main banking services to be used. LHV will retain a smaller staff offi ce in Tartu while the Pärnu office will be closed completely. The change is part of the bank’s longer-term goal of making more ef ficient use of office space and concentrating its teams in larger centres, also taking into account that the new Tallinn headquarters will be completed in 2028. In July, the financial publication Euromoney named LHV as Estonia’s best bank for the seventh time, highlighting the bank’s strong results, technological innovations and consistent growth of its customer base. The recognition reaffirms the bank’s strong position on the Estonian banking market at a time that the bank is preparing to expand operations to European markets. In conclusion, Q3 was a period of implementing the ongoing strategic changes and preparing for new growth opportunities. The increased business activity and improvement of financial results laid a good foundation for the quarters ahead. At the same time, the development of the organisation, technology and services was continued with the aim of making the bank more competitive in Estonia and laying the groundwork for expanding activity to European markets.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 15 / 43 AS LHV Group 2026 Q3 Interim Report Overview of LHV Bank Limited Financial performance fell behind plan during Q3. YTD profit before tax was £4.675m against £7.227m planned, a shortfall of 35%. Q3 contributed £1.6m against £3.8m planned. The shortfall reflects challenging market conditions impacting operating performance and increased impairments as the lending book matures. Income and costs have both moved behind plan. YTD total income of £40.7m was 1.4% below plan, while operating costs of £33.5m were 1.7% above plan, leaving operating profit before impairments and fair value movements at £7.3m, 14% below plan. Banking Services income was £1.8m below plan, principally reflecting weaker fees, while SME Lending NII remained only marginally ahead YTD. Higher IT and staff costs, alongside additional marketing, and legal spend, were partly offset by lower outsourced services and other costs. Higher impairments are a major driver of the profitability shortfall. YTD impairments were £2.35m against £1.19m planned, including a £1.1m September charge following updated model output, individual Stage 3 recovery assessments and further stage migrations. September also benefited from a £0.7m favourable fair value movement, largely relating to the deposit hedge unwind. This reduced the YTD hedge ineffectiveness expense to £0.25m but does not represent recurring income. EUR million Q3 2026 Q2 2026 Change % Net interest income 10.52 9.56 10% Net fee and commission income 0.82 0.37 119% Fee sharing 5.29 5.24 1% Other income 0.45 -0.41 na Total net operating income 17.08 14.76 16% Operating expenses -13.74 -12.57 9% Loan and bond portfolio gains/(-losses) -1.47 -0.22 581% Income tax expenses -0.46 -0.57 -18% Net profit 1.41 1.40 1% Loan portfolio 1,031.95 945.1 9% Deposits of customers 1,506.59 1,388.2 9% Equity 176.13 161.51 9% Balance sheet growth continues, but the year-end lending target requires a strong Q4. Net lending assets ended September at £882m against £948m planned, a shortfall of 7%. YTD originations of £261m were 11% below plan, with softer completions and redemptions constraining growth. Reaching the £1bn year-end target requires approximately £118m of net growth in Q4, making pipeline conversion and the level of redemptions the key dependencies. Q4 priorities are disciplined growth, credit management and funding efficiency. The £10m CET1 raise completed in September has strengthened capital headroom, while retail deposits stand at £1.18bn. The focus remains on converting the SME Lending pipeline, improving Banking Services revenues, managing credit exposures and containing operating costs. Deposit raising will remain aligned with lending requirements and upcoming maturities. Significant progress has been made in Q3 laying the foundations for future performance including investment in AI and agentic customer servicing, building the LHV brand in the UK and foundational work to widen the banks product range going forwards.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 16 / 43 AS LHV Group 2026 Q3 Interim Report Overview of AS LHV Varahaldus • Net profit for Q3 was EUR 0.5 million. • Number of active second-pillar clients at the end of the quarter – more than 104 thousand • Volume of assets in second-pillar funds by the end of Q3 – EUR 1,616 million • Third-pillar net assets continue to grow, with the volume standing at EUR 178 million at the end of September EUR million Q3 2026 Q2 2026 Change % Q3 2025 Change % From the beginning 2026 From the beginning 2025 Change % Net fee and commission income 2.48 2.44 2% 2.31 7% 7.30 6.73 8% Net financial income 0.10 0.20 -50% 0.33 -70% 0.47 0.64 -27% Operating expenses -1.81 -1.97 -8% -1.53 18% -5.47 -4.42 24% Depreciation of non-current assets -0.28 -0.28 0% -0.31 -10% -0.89 -0.95 -6% Profit 0.49 0.39 26% 0.80 -39% 1.41 2.00 -30% Financial investments 6.0 6.0 0% 6.0 0% Equity 18 18 0% 20 0% Assets under management 1,816.0 1,791.0 1% 1,619.8 12% In Q3, the operating income of LHV Varahaldus amounted to EUR 2.5 million and the net profit was EUR 0.5 million. After the first nine months of 2026, both the operating income and the operating expenses narrowly exceed the financial plan. All LHV’s 2nd and 3rd pillar pension funds produced a positive yield in Q3, thanks to good results, financial income earned on the own shares of funds exceeded the financial plan by EUR 37 thousand in the first nine months of this year. Compared to Q2, which was very positive for major equity markets, Q3 turned out to be more volatile. The continued geopolitical tensions, the pressure on energy prices, and the rapidly growing interest rates at the end of Q3 resulted in a situation where the prices of the majority of the US SP500 companies have decreased in recent months, while the US indices as a whole have grown on the back of largest technology players. Measured in euros, the value of SP500 and the technology- focused Nasdaq grew by 3.7% and 3.1%, respectively, while Euro Stoxx fell by 0.7% in the past three months. The market continues to be influenced the most by the largest AI companies, as well as by some companies’ potential initial issue on stock markets. For LHV’s managed pension funds, Q3 and the first nine months of the year largely met the forecasts. In the nine months, the 2nd-pillar pension funds Tasakaalukas, Julge, and Ettevõtlik have grown the clients’ assets by 3.0%, 7.4% and 5.0%, respectively. The pension fund Rahulik with its conservative bond strategy rose by 1.4% in the first nine months. After the first three quarters of the year, we can say that of the major asset classes, the yield of listed shares, bonds and real estate related positions on the whole has largely been as expected, while the results of private and venture capital have so far been below expectations. 1,620 1,702 1,718 1,791 1,816 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 EURm Volume of funds Pillar II pension funds Other funds The growth of the social tax index has remained a little bit below the level of the previous year, staying between 5 to 6% in a month-on-month comparison with 2025. By the end of Q3, the number of LHV’s active 2nd pillar clients was more than 104 thousand, remaining essentially on the same level as in Q2 despite the clients who exited the 2nd pillar in early September and the regular fund changes. The rate of people exiting the 2nd pillar remains similar to recent years and recent exit windows. The volume of assets managed by LHV Varahaldus was more than EUR 1.8 billion by the end of the quarter. September also marked five years from the moment when the first people could withdraw their money from the 2nd pillar and decide not to independently save up for themselves through the 2nd pillar. Over these five years, the volume of the 2nd pillar funds has grown from EUR 4.3 billion to EUR 7.9 billion across the entire market and the volume of the 3rd pillar has grown from EUR 0.3 billion to EUR 1.4 billion, with nearly every fourth 2nd pillar member having decided to increase their personal monthly contribution from their gross salary from the previous 2% to 4% or 6%. The capital of those who continue to save up has grown nicely over the five years. The portfolio of all actively managed funds and the distribution of asset classes largely correspond to the long-term goal, where the Tasakaalukas, Julge and Ettevõtlik portfolios are mainly invested in unlisted asset classes less dependent on stock markets. We keep a close eye on developments on the stock market and are prepared to quickly adjust our positions depending on the conditions. We also devote extra attention to liquidity to ensure the capability to more aggressively invest and naturally make disbursements to clients if they change or exit funds.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 17 / 43 AS LHV Group 2026 Q3 Interim Report Overview of AS LHV Kindlustus The Q3 2026 financial results of AS LHV Kindlustus largely remained at the same level as in Q2 2026. The results were mostly influenced by a few major loss events and the continuing low level of vehicle insurance. The low price level is having a very significant effect on the insurance market as a whole. The results of all the insurance companies have deteriorated from the previous year. From a positive side, the actuarial indicators of travel insurance have improved considerably after the very loss-intense beginning of 2026. The Q3 sales results exceeded the goals of the 2026 financial plan. The volumes of health, motor TPL and travel insurance exceeded the sales plan figures the most. In the pricing of motor TPL insurance, significant changes were made in the tariff principles at the end of Q3, the positive effect of which should manifest in Q4, but will definitely be seen in the 2027 results. Of the major products, all-risks and home insurance fell short of the sales plans. For both products, competition for clients is greater than the average, and in line with LHV’s risk appetite and pricing principles, a strategically safer option was chosen - not to sell more policies at the excessively low price. In the development of information systems, we continued improving the capability of the claims handling programme, assigning a significant part of the resources to the development of AI-based tools. Our focus continues to be on the development of our data warehouse in order to ensure better capabilities, efficiency and data-based risk selection. (EUR thousand) Q3 2026 Q2 2026 Gross insurance premiums 11,007 11,707 Net earned premiums 11,663 11,123 Net profit 293 789 Net loss ratio 72.5% 67.9% Net expense ratio 25.6% 25.2% ROE 12.5% 35.8% Number of clients (thousands) 246 242 Solvency 131.7% 134.8% As of the end of Q3, LHV Kindlustus employed 58 people. As at 30 September 2026, LHV Kindlustus had 338 thousand valid insurance contracts and 246 thousand clients. Both figures have grown from Q2 2026. The volume of gross insurance premiums was EUR 11,007 thousand and the net earned insurance premiums totalled EUR 11,663 thousand in Q3. The proportions of products in the insurance portfolio remained at the same level compared to the previous quarter. During Q3, 37,111 new loss events were registered and the total amount of gross losses incurred in the period was EUR 8,182 thousand. In a quarterly comparison, the number of the registered new loss events of the main insurance products remained on the same scale as in the previous quarter. The results were, however, negatively affected by a few major losses. Some changes took place in the quarterly loss ratios of insurance products. The loss ratio of all-risks insurance grew considerably, amounting to 82.8% in Q3, and large loss events caused the home insurance loss ratio to grow to 92.3%. Loss frequency also grew from the previous quarter for both products. The results improved in motor TPL and travel insurance. The company’s profit in Q3 was EUR 293 thousand.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 18 / 43 AS LHV Group 2026 Q3 Interim Report CONDENSED CONSOLIDA TED INTERIM FINANCIAL STATEMENTS Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income (in thousands of euros) Note Q3 2026 9M 2026 Q3 2025 9M 2025 Interest income 117,112 333,029 104,294 313,437 Interest expense -48,301 -142,461 -48,762 -138,252 Net interest income 8 68,811 190,568 55,532 175,185 Fee and commission income 21,381 62,762 21,379 62,358 Fee and commission expense -4,582 -16,622 -6,083 -17,412 Net fee and commission income 9 16,799 46,140 15,296 44,946 Insurance service revenue 11,663 33,331 10,568 30,489 Insurance service expenses -11,082 -31,712 -9,385 -26,925 Net result from reinsurance contracts held -362 -1,345 -556 -1,275 Net insurance income 219 274 627 2,289 Net gains/losses from financial assets measured at fair value -5,754 -4,185 273 3,977 Foreign exchange gains/losses -11 -97 894 -443 Net gain/loss from financial assets -5,765 -4,282 1,167 3,534 Other income 70 141 42 42 Other expense -10 -42 -3 -7 Staff costs -24,072 -75,898 -22,351 -67,907 Administrative and other operating expenses -19,357 -56,690 -16,412 -48,908 Profit before impairment losses on loans and advances 36,695 100,211 33,898 109,174 Impairment losses on financial instruments 20 8,892 1,833 -1,673 -3,188 Income tax expense -8,053 -20,135 -5,916 -19,752 Net profit for the reporting period 2 37,534 81,909 26,309 86,234 Other comprehensive income/loss: Items that may be reclassified subsequently to profit or loss: Unrealized exchange differences arising on the translation of the financial state- ments of foreign operations 1,423 3,239 -2,229 -5,114 Total profit and other comprehensive income for the reporting period 38,957 85,148 24,080 81,120 Total profit of the reporting period attributable to: Owners of the parent 37,084 81,045 25,703 84,320 Non-controlling interest 450 864 606 1,914 Total profit for the reporting period 2 37,534 81,909 26,309 86,234 Total profit and other comprehensive income attributable to: Owners of the parent 38,507 84,284 23,474 79,206 Non-controlling interest 450 864 606 1,914 Total profit and other comprehensive income for the reporting period 38,957 85,148 24,080 81,120 Basic earnings per share (in euros) 15 0.11 0.25 0.08 0.26 Diluted earnings per share (in euros) 15 0.11 0.24 0.08 0.25 The Notes on pages 22 to 40 are an integral part of the condensed consolidated interim financial statements.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 19 / 43 AS LHV Group 2026 Q3 Interim Report Condensed Consolidated Interim Statement of Financial Position (in thousands of euros) Note 30.09.2026 31.12.2025 Assets Due from central bank 4, 5, 11 2,959,569 4,270,361 Cash and cash equivalents 4, 5, 11 35,142 34,049 Due from investment companies 5, 11 7,012 7,478 Due from credit institutions 0 515 Financial assets at fair value through profit or loss 5, 6 687,733 24,927 Investments in debt securities at amortised cost 6 377,753 378,064 Loans and advances to customers 5, 7, 20 5,951,041 5,465,391 Receivables from customers 41,667 12,335 Reinsurance contract assets 49 476 Insurance contract assets 116 53 Other financial assets 276 272 Other assets 7,369 6,533 Financial investment 1,000 1,000 Property and equipment 18 14,889 11,804 Intangible assets 18 9,772 12,154 Goodwill 7,550 7,550 Total assets 2 10,100,938 10,232,962 Liabilities Deposits of customers 12 7,735,335 8,134,438 Loans received and debt securities in issue 12 1,232,577 1,043,617 Financial liabilities at fair value through profit or loss 6 1,535 1,275 Accounts payable and other liabilities 13 99,847 64,188 Insurance contract liabilities 15,761 15,335 Subordinated debt 5, 19 222,295 206,928 Total liabilities 2 9,307,350 9,465,781 Owner's equity Share capital 32,786 32,786 Share premium 154,593 154,593 Statutory reserve capital 4,713 4,713 Treasury shares -8,152 -7,271 Other reserves 13,329 10,502 Retained earnings 588,343 562,576 Total equity attributable to owners of the parent 785,612 757,899 Non-controlling interest 7,976 9,282 Total equity 793,588 767,181 Total liabilities and equity 10,100,938 10,232,962 The Notes on pages 22 to 40 are an integral part of the condensed consolidated interim financial statements.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 20 / 43 AS LHV Group 2026 Q3 Interim Report Condensed Consolidated Interim Statement of Cash Flows (in thousands of euros) Note Q3 2026 9M 2026 Q3 2025 9M 2025 Cash flows from operating activities Interest received 108,141 320,490 99,830 301,570 Interest paid -32,563 -132,653 -51,875 -135,471 Fees and commissions received 21,518 62,644 21,164 62,001 Fees and commissions paid -4,578 -16,619 -6,056 -17,369 Other income received 92 127 -26 -244 Staff costs paid -25,033 -71,882 -20,667 -61,902 Administrative and other operating expenses paid -19,611 -52,062 -13,618 -40,722 Income tax paid -5,703 -19,034 -6,633 -19,746 Net insurance income 471 5,811 2,131 7,470 Cash flows from operating activities before change in operating assets and liabilities 43,233 96,822 24,250 95,587 Net increase/decrease in operating assets: Net increase/(decrease) in financial assets at fair value through profit or loss 19,419 -673,738 3,346 4,809 Loans and advances to customers -175,279 -494,602 -239,805 -713,525 Net changes of investment securities at fair value through profit or loss and of investment securities at amortized cost -39,626 -4,525 49,077 -95,769 Security deposits 0 0 0 -1 Other assets 4,078 3,844 -1,328 -308 Deposits with more than 3 months maturity 0 515 0 -150 Net increase/decrease in operating liabilities: Demand deposits of customers 53,639 223,729 197,273 420,041 Term deposits of customers 113,838 -646,969 -91,217 166,534 Loans received/repayments 200,000 181,850 0 49,050 Financial liabilities held for trading at fair value through profit and loss 4,656 6,096 -3,336 888 Other liabilities 10,847 43,776 620 7,291 Net cash generated from/used in operating activities 234,805 -1,263,202 -61,120 -65,553 Cash flows from investing activities Purchase of non-current assets -7,617 -8,145 -367 -1,900 Net cash flows from/used in investing activities -7,617 -8,145 -367 -1,900 Cash flows from financing activities Paid in share capital (incl. share premium) 0 0 0 8,002 Treasury shares -5,256 -6,663 -4,483 -4,984 Dividends paid 0 -57,905 0 -31,207 Loans received 15,000 15,000 80,000 190,000 Prepayments of loans received 0 0 -35,000 -50,000 Repayments of the principal of lease liabilities -1,368 -3,031 -889 -2,651 Net cash flows from/used in financing activities 8,376 -52,599 39,628 109,160 Effect of exchange rate changes on cash and cash equivalents 5 5,881 13,781 -8,535 -23,569 Net increase/decrease in cash and cash equivalents 241,445 -1,310,165 -30,394 18,138 Cash and cash equivalents at the beginning of the period 2,760,278 4,311,888 3,865,837 3,817,305 Cash and cash equivalents at the end of the period 11 3,001,723 3,001,723 3,835,443 3,835,443 The Notes on pages 22 to 40 are an integral part of the condensed consolidated interim financial statements.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 21 / 43 AS LHV Group 2026 Q3 Interim Report Condensed Consolidated Interim Statement of Changes in Equity (in thousands of euros) Share capital Share premium Statutory reserve capital Other reserves Retained earnings Treasury shares Total equity attributable to owners of LHV Group Non- controlling interest Total equity Balance as at 01.01.2025 32,419 146,958 4,713 16,271 469,727 0 670,088 8,572 678,660 Paid in share capital 367 7,635 0 0 0 0 8,002 0 8,002 Treasury shares 0 0 0 0 0 -4,984 -4,984 0 -4,984 Dividends paid 0 0 0 0 -29,177 0 -29,177 -2,030 -31,207 Share options 0 0 0 -2,251 7,761 0 5,510 0 5,510 Profit for the reporting period 0 0 0 0 84,320 0 84,320 1,914 86,234 Other comprehensive income/ loss 0 0 0 -5,114 0 0 -5,114 0 -5,114 Total profit and other compre- hensive income for the reporting period 0 0 0 -5,114 84,320 0 79,206 1,914 81,120 Balance as at 30.09.2025 32,786 154,593 4,713 8,906 532,631 -4,984 728,645 8,456 737,101 Balance as at 01.01.2026 32,786 154,593 4,713 10,502 562,576 -7,271 757,899 9,282 767,181 Treasury shares 0 0 0 0 -5,272 -881 -6,153 0 -6,153 Dividends paid out 0 0 0 0 -55,735 0 - 55,735 -2,170 -57,905 Share options 0 0 0 -412 5,729 0 5,317 0 5,317 Profit for the reporting period 0 0 0 0 81,045 0 81,045 864 81,909 Other comprehensive income/ loss 0 0 0 3,239 0 0 3,239 0 3,239 Total profit and other compre- hensive income for the reporting period 0 0 0 3,239 81,045 0 84,284 864 85,148 Balance as at 30.09.2026 32,786 154,593 4,713 13,329 588,343 -8,152 785,612 7,976 793,588 The Notes on pages 22 to 40 are an integral part of the condensed consolidated interim financial statements.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 22 / 43 AS LHV Group 2026 Q3 Interim Report Notes to the Condensed Consolidated Interim Financial Statements NOTE 1 Accounting Policies The condensed consolidated interim financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting”, as adopted by the European Union. The condensed consolidated interim financial statements does not contain all the information necessary to be presented in the annual report. These condensed consolidated interim financial statements should be read in conjunction with the group’s annual financial statements as at 31 December 2025. The same accounting policies and methods of computation are followed in the condensed consolidated interim financial statements as compared with the most recent annual financial statements. There are no significant changes in risk policies of the group, all the results including estimates and judgement of expected credit losses are in line with principles described in group’s annual financial statements as at 31 December 2025. The financial figures of the condensed consolidated interim financial statements have been presented in thousands of euros, unless otherwise indicated. The interim financial statements have been consolidated and include the results of AS LHV Group and its subsidiaries AS LHV Varahaldus (100% interest), AS LHV Pank (100% interest), LHV Bank Ltd (100% interest), AS LHV Paytech (100% interest) and AS LHV Finance (65% interest) and AS LHV Kindlustus (65% interest). NOTE 2 Business Segments The Group divides its business activities into segments according to its legal structure. The segments form a part of the Group, with a separate access to financial data and which are subject to regular monitoring of operating profit by the Group’s decision-maker. The Management Board of AS LHV Group has been designated as the decision-maker responsible for allocation of funds and assessment of the profitability of the business activities. The result posted by a segment includes revenue and expenditure directly related to the segment. The revenue of a reported segment includes gains from transactions between the segments, i.e. loans granted by AS LHV Pank to other group companies. The division of interest income and fee and commission income by customer location has been presented in Notes 8 and 9. The breakdown of interest income by customer location does not include the income from current accounts, deposits and investments in securities. The Group does not have any customers, whose income would account for more than 10% of the corresponding type of revenue.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 23 / 43 AS LHV Group 2026 Q3 Interim Report The revenue of a reported segment includes gains from transactions between the segments, i.e. loans granted by AS LHV Pank to other group companies. The division of interest income and fee and commission income by customer location has been presented in Notes 8 and 9. The breakdown of interest income by customer location does not include the income from current accounts, deposits and investments in securities. The Group does not have any customers, whose income would account for more than 10% of the corresponding type of revenue. Q3 2026 (in thousands of euros) LHV Pank LHV Bank LHV Varahaldus LHV Kindlustus Other activities Elimi- nations Total Net interest income external 69,794 11,237 0 169 -12,389 0 68,811 Net interest income internal -10,291 -718 1 -42 11,051 -1 0 Fee and commission income external 17,316 1,060 2,375 0 632 -2 21,381 Fee and commission income internal 903 0 107 0 534 -1,544 0 Fee and commission expense external -4,249 -242 0 -38 -53 0 -4,582 Fee and commission expense internal -500 0 0 -1 -100 602 0 Net fee and commission income 13,470 818 2,482 -39 1,013 -944 16,799 Fee sharing income 0 5,294 0 0 0 -5,294 0 Fee sharing expense -5,242 0 0 0 0 5,242 0 Net fee sharing -5,242 5,294 0 0 0 -52 0 Dividend income 0 0 0 0 0 0 0 Net gain/loss from financial assets -10,148 449 101 0 179 3,654 -5,765 Insurance service revenue 0 0 0 11,663 0 0 11,663 Insurance service expenses 0 0 0 -11,082 0 0 -11,082 Net result from reinsurance contracts held 0 0 0 -362 0 0 -362 Net insurance income 0 0 0 219 0 0 219 Net other income/expense 67 -1 1 -7 0 0 60 Total net operating income/expense 57,650 17,079 2,585 301 -146 2,657 80,125 Staff costs -15,181 -7,591 -848 0 -657 205 -24,072 Administrative and other operating expenses -11,670 -6,145 -1,240 -7 -1,034 740 -19,357 Total administrative and other operat- ing expenses, staff costs -26,851 -13,736 -2,088 -7 -1,691 945 -43,428 Profit/loss before impairment losses 30,799 3,343 497 293 -1,837 3,602 36,695 Expected credit losses 10,365 -1,472 0 0 0 0 8,892 Income tax expense -7,415 -463 0 0 0 -177 -8,053 Net profit/loss for the reporting period 33,749 1,408 497 293 -1,837 3,425 37,534
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 24 / 43 AS LHV Group 2026 Q3 Interim Report 9M 2026 (in thousands of euros) LHV Pank LHV Bank LHV Varahal- dus LHV Kindlustus Other activities Elimi- nations Total Net interest income external 194,581 30,847 18 455 -35,333 0 190,568 Net interest income internal -30,754 -1,592 2 -141 32,486 -1 0 Fee and commission income external 51,312 2,538 6,995 0 1,919 -2 62,762 Fee and commission income internal 2,468 0 302 0 1,564 -4,334 0 Fee and commission expense external -15,587 -748 0 -109 -178 0 -16,622 Fee and commission expense internal -1,565 0 0 -9 -100 1,674 0 Net fee and commission income 36,628 1,790 7,297 -118 3,205 -2,662 46,140 Fee sharing income 0 16,101 0 0 0 -16,101 0 Fee sharing expense -16,123 0 0 0 0 16,123 0 Net fee sharing -16,123 16,101 0 0 0 22 0 Dividend income 0 0 0 0 98,030 -98,030 0 Net gain/loss from financial assets -10,404 -342 451 11 -22 6,025 -4,282 Insurance service revenue 0 0 0 33,331 0 0 33,331 Insurance service expenses 0 0 0 -31,712 0 0 -31,712 Net result from reinsurance contracts held 0 0 0 -1,345 0 0 -1,345 Net insurance income 0 0 0 274 0 0 274 Net other income/expense 66 49 2 -18 0 0 99 Total net operating income/expense 173,994 46,853 7,770 463 98,366 -94,646 232,799 Staff costs -49,561 -22,424 -2,426 0 -2,086 599 -75,898 Administrative and other operating expenses -32,951 -16,290 -3,931 -54 -5,527 2,063 -56,690 Total administrative and other operat- ing expenses, staff costs -82,512 -38,714 -6,357 -54 -7,613 2,662 -132,588 Profit/loss before impairment losses 91,482 8,139 1,413 409 90,753 -91,984 100,211 Expected credit losses 4,562 -2,728 0 0 0 0 1,833 Income tax expense -17,831 -1,352 -1,128 0 0 176 -20,135 Net profit/loss for the reporting period 78,213 4,059 285 409 90,753 -91,808 81,909 Total assets 30.09.2026 8,293,395 1,780,277 20,285 29,584 1,271,433 -1,294,037 10,100,938 Total liabilities 30.09.2026 7,642,332 1,604,148 998 20,023 902,189 -862,339 9,307,350
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 25 / 43 AS LHV Group 2026 Q3 Interim Report Q3 2025 (in thousands of euros) LHV Pank LHV Bank LHV Varahaldus LHV Kindlustus Other activities Elimi- nations Total Net interest income external 59,024 6,812 12 117 -10,447 14 55,532 Net interest income internal -10,086 -425 0 -55 10,565 1 0 Fee and commission income external 17,739 834 2,228 0 573 5 21,379 Fee and commission income internal 386 0 80 0 1,085 -1,551 0 Fee and commission expense external -5,758 -231 0 -29 -64 0 -6,083 Fee and commission expense internal -695 -390 0 -4 0 1,089 0 Net fee and commission income 11,672 213 2,308 -33 1,594 -457 15,296 Fee sharing income 0 6,051 0 0 0 -6,051 0 Fee sharing expense -6,032 0 0 0 0 6,032 0 Net fee sharing -6,032 6,051 0 0 0 -19 0 Dividend income 0 0 0 0 0 0 0 Net gain/loss from financial assets 415 404 322 22 4 0 1,167 Insurance service revenue 0 0 0 10,568 0 0 10,568 Insurance service expenses 0 0 0 -9,385 0 0 -9,385 Net result from reinsurance contracts held 0 0 0 -556 0 0 -556 Net insurance income 0 0 0 627 0 0 627 Net other income/expense 33 0 0 17 0 -11 39 Total net operating income/expense 55,026 13,054 2,642 695 1,716 -472 72,661 Staff costs -13,898 -6,460 -688 0 -1,414 109 -22,351 Administrative and other operating expenses -9,818 -4,978 -1,150 -44 -784 363 -16,412 Total administrative and other operat- ing expenses, staff costs -23,717 -11,438 -1,839 -44 -2,196 471 -38,763 Profit/loss before impairment losses 31,311 1,615 805 651 -483 0 33,898 Expected credit losses -1,422 -251 0 0 0 0 -1,673 Income tax expense -5,398 -341 0 0 0 -177 -5,916 Net profit/loss for the reporting period 24,491 1,023 805 652 -484 -178 26,309
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 26 / 43 AS LHV Group 2026 Q3 Interim Report 9M 2025 (in thousands of euros) LHV Pank LHV Bank LHV Varahaldus LHV Kindlustus Other activities Elimi- nations Total Net interest income external 185,191 18,909 47 252 -29,228 14 175,185 Net interest income internal -29,041 -1,111 2 -161 30,310 1 0 Fee and commission income external 51,612 2,573 6,500 0 1,669 4 62,358 Fee and commission income internal 1,009 0 225 0 3,255 -4,489 0 Fee and commission expense external -16,551 -586 0 -78 -196 0 -17,412 Fee and commission expense internal -2,085 -1,170 0 -7 0 3,262 0 Net fee and commission income 33,985 817 6,725 -85 4,728 -1,223 44,946 Fee sharing income 0 19,910 0 0 0 -19,910 0 Fee sharing expense -19,891 0 0 0 0 19,891 0 Net fee sharing -19,891 19,910 0 0 0 -19 0 Dividend income 0 0 0 0 128,770 -128,770 0 Net gain/loss from financial assets 1,238 1,533 593 207 -37 0 3,534 Insurance service revenue 0 0 0 30,489 0 0 30,489 Insurance service expenses 0 0 0 -26,925 0 0 -26,925 Net result from reinsurance contracts held 0 0 0 -1,275 0 0 -1,275 Net insurance income 0 0 0 2,289 0 0 2,289 Net other income/expense 121 0 0 7 0 -93 35 Total net operating income/expense 171,603 40,058 7,367 2,509 134,543 -130,090 225,989 Staff costs -43,321 -19,746 -2,061 0 -3,100 321 -67,907 Administrative and other operating expenses -28,510 -15,014 -3,302 -116 -2,964 999 -48,908 Total administrative and other operat- ing expenses, staff costs -71,831 -34,760 -5,363 -116 -6,064 1,319 -116,815 Profit/loss before impairment losses 99,772 5,298 2,004 2,393 128,479 -128,770 109,174 Expected credit losses -2,263 -925 0 0 0 0 -3,188 Income tax expense -18,124 -1,099 -564 0 0 35 -19,752 Net profit/loss for the reporting period 79,384 3,274 1,440 2,393 128,479 -128,736 86,234 Total assets 30.09.2025 8,384,523 1,139,851 20,338 27,937 1,036,298 -1,079,248 9,529,699 Total liabilities 30.09.2025 7,831,883 1,019,970 655 19,011 700,566 -779,487 8,792,598
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 27 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 3 Risk Management The Group’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. The condensed interim financial statements do not include all financial risk management information and disclosures required in the annual financial statements; they should be read in conjunction with the group’s annual financial statements as at 31 December 2025. There have been no major changes in the risk management department or in any risk management policies since the year end. To reduce liquidity risk, LHV Pank has issued mortgage bonds and involved funds from deposit platforms. NOTE 4 Breakdown of Assets and Liabilities by Maturity Dates (undiscounted contractual cash flows) 30.09.2026 On demand 0-3 months 3-12 months 1-5 years Over 5 years Total Liabilities by contractual maturity dates Deposits from customers 5,149,077 1,684,826 897,402 15,682 0 7,746,987 Loans received and debt securities in issue 0 107,500 335,475 849,750 0 1,292,725 Subordinated debt 0 4,419 12,906 258,850 0 276,175 Lease liability 0 804 1,674 1,028 0 3,506 Accounts payable and other financial liabilities (excluding lease liability) 0 71,403 0 0 0 71,403 Insurance contract liabilities 0 15,761 0 0 0 15,761 Unused loan commitments 686,187 0 0 0 0 686,187 Financial liabilities at fair value 0 1,535 0 0 0 1,535 Financial guarantees by contractual amounts 171,897 0 0 0 0 171,897 Foreign exchange derivatives liabilities notional (gross settled) 0 378,605 0 0 0 378,605 Foreign exchange derivatives assets notional (gross settled) 0 -378,605 0 0 0 -378,605 Total liabilities 6,007,161 1,886,248 1,247,457 1,125,310 0 10,266,176 Financial assets by contractual maturity dates Due from central bank, banks and investment companies 3,001,723 0 0 0 0 3,001,723 Financial assets at fair value and at amortised cost (debt securities) 0 36,940 291,694 602,076 125,310 1,056,020 Loans and advances to customers 0 358,824 810,203 4,166,638 2,598,598 7,934,263 Receivables from customers 0 41,667 0 0 0 41,667 Insurance contract assets 0 165 0 0 0 165 Other financial assets 0 0 0 0 276 276 Total financial assets 3,001,723 437,596 1,101,897 4,768,714 2,724,184 12,034,114 Maturity gap from financial assets and liabilities -3,005,438 -1,448,652 -145,560 3,643,404 2,724,184 1,767,938
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 28 / 43 AS LHV Group 2026 Q3 Interim Report 31.12.2025 On demand 0-3 months 3-12 months 1-5 years Over 5 years Total Liabilities by contractual maturity dates Deposits from customers 5,307,001 1,214,882 1,609,169 28,414 63 8,159,529 Loans received and debt securities in issue 0 318 149,968 967,225 0 1,117,511 Subordinated debt 0 1,744 14,381 251,356 0 267,481 Lease liability 0 917 2,161 2,712 670 6,460 Accounts payable and other financial liabilities (excluding lease liability) 0 41,566 0 0 0 41,566 Insurance contract liabilities 0 15,335 0 0 0 15,335 Reinsurance contract liabilities 0 0 0 0 0 0 Unused loan commitments 730,077 0 0 0 0 730,077 Financial liabilities at fair value 0 1,275 0 0 0 1,275 Financial guarantees by contractual amounts 162,050 0 0 0 0 162,050 Foreign exchange derivatives liabilities notional (gross settled) 0 257,137 0 0 0 257,137 Foreign exchange derivatives assets notional (gross settled) 0 -257,137 0 0 0 -257,137 Total liabilities 6,199,128 1,276,037 1,775,679 1,249,707 733 10,501,284 Financial assets by contractual maturity dates Due from central bank, banks and investment companies 4,311,888 0 515 0 0 4,312,403 Financial assets at fair value and at amortised cost (debt securities) 0 1,995 182,242 88,569 122,476 395,282 Loans and advances to customers 0 266,300 779,556 3,844,838 2,254,051 7,144,745 Receivables from customers 0 12,335 0 0 0 12,335 Reinsurance contract assets 0 53 0 0 0 53 Insurance contract assets 0 476 0 0 0 476 Other financial assets 0 0 0 0 272 272 Total financial assets 4,311,888 281,159 962,313 3,933,407 2,376,799 11,865,566 Maturity gap from financial assets and liabilities -1,887,240 -994,878 -813,366 2,683,700 2,376,066 1,364,282 It is possible to take a short-term loan from the central bank against the security of the majority of instruments in the bond portfolio. Fair value of the derivative contracts is presented in balance sheet and remaining of notional cashflows in off-balance.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 29 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 5 Open Foreign Currency Positions 30.09.2026 EUR CHF GBP SEK USD Other Total Assets bearing currency risk Due from banks and investment companies 2,262,266 655 725,937 1,072 4,980 6,813 3,001,723 Financial assets at fair value and at amortised cost 1,026,195 0 23 1 39,265 1 1,065,486 Loans and advances to customers 4,903,832 6 1,038,453 195 8,123 432 5,951,041 Receivables from customers 19,855 802 9,355 461 11,180 14 41,667 Reinsurance contract assets 49 0 0 0 0 0 49 Insurance contract assets 116 0 0 0 0 0 116 Other financial assets 100 0 176 0 0 0 276 Total assets bearing currency risk 8,212,413 1,464 1,773,944 1,729 63,548 7,260 10,060,359 Liabilities bearing currency risk Deposits from customers 5,997,320 5,671 1,529,382 7,773 179,907 15,283 7,735,335 Loans received and bonds issued 1,232,577 0 0 0 0 0 1,232,577 Financial liabilities at fair value 1,535 0 0 0 0 0 1,535 Accounts payable and other financial liabilities 39,298 75 18,262 263 7,353 1,284 66,535 Insurance contract liabilities 15,761 0 0 0 0 0 15,761 Subordinated debt 222,295 0 0 0 0 0 222,295 Total liabilities bearing currency risk 7,508,786 5,746 1,547,644 8,036 187,260 16,567 9,274,038 Open gross position derivative assets at contractual value 111,247 4,220 77,330 6,354 170,174 9,280 378,605 Open gross position derivative liabilities at contractual value 265,339 0 66,953 0 46,313 0 378,605 Open foreign currency position 549,535 -62 236,678 47 149 -27 786,320 31.12.2025 EUR CHF GBP SEK USD Other Total Assets bearing currency risk Due from banks and investment companies 3,660,447 6,212 628,219 3,645 6,522 7,358 4,312,403 Financial assets at fair value and at amortised cost 402,952 1 1 1 36 0 402,991 Loans and advances to customers 4,673,835 4 782,514 248 8,457 333 5,465,391 Receivables from customers 5,599 108 4,280 472 1,355 521 12,335 Reinsurance contract assets 476 0 0 0 0 0 476 Insurance contract assets 53 0 0 0 0 0 53 Other financial assets 100 0 172 0 0 0 272 Total assets bearing currency risk 8,743,462 6,325 1,415,186 4,366 16,370 8,212 10,193,921 Liabilities bearing currency risk Deposits from customers 6,652,828 6,304 1,300,403 8,328 153,591 12,984 8,134,438 Loans received and bond issued 1,043,617 0 0 0 0 0 1,043,617 Financial liabilities at fair value 1,275 0 0 0 0 0 1,275 Accounts payable and other financial liabilities 26,546 32 9,104 5,110 5,230 2,004 48,026 Insurance contract liabilities 15,335 0 0 0 0 0 15,335 Reinsurance contract liabilities 0 0 0 0 0 0 0 Subordinated debt 206,928 0 0 0 0 0 206,928 Total liabilities bearing currency risk 7,946,529 6,336 1,309,507 13,438 158,821 14,988 9,449,619 Open gross position derivative assets at contractual value 43,900 0 10,851 9,241 186,395 6,750 257,137 Open gross position derivative liabilities at contractual value 212,988 0 0 0 44,149 0 257,137 Open foreign currency position 627,845 -11 116,530 169 -205 -26 744,302
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 30 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 6 Fair Value of Financial Assets and Liabilities The Management Board of the Group has determined the fair value of assets and liabilities recognised at amortised cost in the balance sheet. To determine the fair value, future cash flows are discounted based on the market interest curve. IFRS 9 measurement Level 1 Level 2 Level 3 Total fair value Carrying value 30.09.2026 Cash and balances with central bank AC 1,490,388 1,469,181 0 2,959,569 2,959,569 Due from banks and investment companies AC 42,154 0 0 42,154 42,154 Debt securities FVTPL 678,486 0 0 678,486 678,486 Shares and fund units FVTPL 6,444 0 0 6,444 6,444 Debt securities AC 0 368,845 0 368,845 377,753 Loans and advances to customers AC 0 0 6,144,728 6,144,728 5,951,041 Receivables from customers AC 0 41,667 0 41,667 41,667 Strategic financial investment FVTPL 0 0 1,000 1,000 1,000 Derivatives FVTPL 0 2,803 0 2,803 2,803 Other financial assets AC 0 0 276 276 276 Total assets 2,217,472 1,882,496 6,146,004 10,245,972 10,061,193 Deposits from customers AC 0 7,764,972 0 7,764,972 7,735,335 Loans received and debt securities in issue AC 0 1,245,372 0 1,245,372 1,232,577 Subordinated debt AC 0 232,854 0 232,854 222,295 Derivatives FVTPL 0 1,535 0 1,535 1,535 Accounts payable and other liabilities AC 0 71,403 0 71,403 71,403 Total liabilities 0 9,316,136 0 9,316,136 9,263,145 31.12.2025 Cash and balances with central bank AC 1,317,834 2,952,527 0 4,270,361 4,270,361 Due from banks and investment companies AC 41,527 0 0 41,527 41,527 Due from credit institutions AC 0 515 0 515 515 Debt securities FVTPL 17,123 0 0 17,123 17,123 Shares and fund units FVTPL 7,169 0 0 7,169 7,169 Debt securities AC 0 374,719 0 374,719 378,064 Loans and advances to customers AC 0 0 5,585,662 5,585,662 5,465,391 Receivables from customers AC 0 12,335 0 12,335 12,335 Strategic financial investment FVTPL 0 0 1,000 1,000 1,000 Derivatives FVTPL 0 635 0 635 635 Other financial assets AC 0 0 272 272 272 Total assets 1,383,653 3,340,731 5,586,934 10,311,318 10,194,392 Deposits from customers AC 0 8,160,290 0 8,160,290 8,134,438 Loans received and debt securities in issue AC 0 1,069,667 0 1,069,667 1,043,617 Subordinated debt AC 0 216,519 0 216,519 206,928 Derivatives FVTPL 0 1,275 0 1,275 1,275 Accounts payable and other liabilities AC 0 63,581 0 63,581 63,581 Total liabilities 0 9,511,332 0 9,511,332 9,449,839 As at September 30, 2026, the liquidity portfolio in the amount of EUR 377,753 thousand is reflected in the amortised cost and the loss from the revaluation of the portfolio is reflected in the income statement in the line Impairment losses on loans and bonds in the total amount of EUR 8.9 thousand. The below table provides an overview of the assessment techniques, which depend on the hierarchy of assets and liabilities measured at fair value: The estimated market value of the securities recorded in the amortised cost as of September 30, is EUR 368,491 thousand.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 31 / 43 AS LHV Group 2026 Q3 Interim Report Hierarchy levels: 1. Level 1 – the price quoted on active market 2. Level 2 – a technique which uses market information as input (rates and interest curves of arms-length transactions) 3. Level 3 – other methods (e.g. discounted cash flow method) with estimations as input As at 30.09.2026 the fair value of corporate loans and overdraft is EUR 141,368 thousand (4.12%) higher than their carrying amount (31.12.2025: 129,407 thousand, 4.12% higher). Loans are issued in the bank’s business segments on market conditions. Therefore, the fair value of loans does not materially differ from their carrying amount as at 30 September 2026 and 31 December 2025. In determining the fair value of loans, considerable management judgements are used (discounted cash flow method with current market interest is used for the valuation). Loans issued are thus categorised under hierarchy level 3. Lease interest rates offered to customers generally correspond to interest rates prevailing in the market for such products. Considering that the interest rate environment has been relatively stable since the Group started to provide leasing, consequently the fair value of lease agreements does not materially differ from their carrying amount. As significant management judgment is required to determine fair value, leases are classified as level 3 in the fair value hierarchy. Leveraged loans, hire-purchase and credit cards granted to customers are of sufficiently short-term nature and they have been issued at market terms, therefore the fair market rate of interest and also the fair value of loans do not change significantly during the loan term. The fair value level of leveraged loans, Hire-purchase, credit cards and consumer loans is 3 as significant judgmental assumptions are used for the valuation process. Other receivables from customers, along with accrued expenses and other current receivables have been generated in the course of ordinary business and are subject to payment over a short period of time. Their fair value does not thus differ from the carrying amount. These receivables and payables do not bear any interest. The fair value of accounts payable, accrued expenses and other payables is determined based on hierarchy level 3. Customer deposits with fi xed interest rates are mostly short-term with the deposits priced pursuant to market conditions. The majority of the customer deposits include demand deposits. The fair value of the deposits determined via discounting future cash flows does not thus materially differ from the carrying amount. In determining the fair value of customer deposits, considerable management judgements are used. Customer deposits are thus categorised under hierarchy level 3. Subordinated loans were issued on market terms and considering the movements in loan and interest market, we can say that the market conditions are similar as they were when issuing the subordinated loans so that the fair value of the loans does not materially differ from their carrying value. In determining the fair value of loans, considerable management judgements are used. Subordinated debt are thus categorised under hierarchy level 3. Swaps are instruments, where the fair value is determined via the model-based approach by using the inputs available on the active market. The fair value of such non-market derivatives is calculated as a net present value (NPV), by using independent market parameters and without assuming the presence of any risks or uncertainties. The NPV is discounted by using the risk-free profi tability rate available on the market.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 32 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 7 Breakdown of Loan Portfolio by Economic Sectors and by Stages 30.09.2026 Stage 1 Stage 2 Stage 3 Provision Total % Individuals 1,982,853 164,853 10,325 -6,530 2,151,501 36.2% Agriculture 150,975 12,102 0 -564 162,513 2.7% Mining and Quarrying 12,887 0 0 -11 12,876 0.2% Manufacturing 150,477 47,239 43,452 -10,103 231,065 3.9% Energy 131,031 10,530 0 -479 141,082 2.4% Water and sewerage 54,595 121 0 -454 54,262 0.9% Construction 54,340 15,030 248 -1,786 67,832 1.1% Wholesale and retail trade 78,122 46,152 1,064 -724 124,614 2.1% Transportation and storage 106,082 3,334 34 -986 108,464 1.8% Accommodation and catering 121,337 26,230 4,396 -1,638 150,325 2.5% Publishing, broadcasting, and content production and distribution 1,565 767 2 -14 2,320 0.0% Information and communication 19,495 3,370 101 -140 22,826 0.4% Financial activities 153,175 900 0 -557 153,518 2.6% Real estate activities 1,981,897 168,268 18,300 -11,051 2,157,414 36.3% Professional, scientific and technical activities 65,587 14,881 482 -506 80,444 1.4% Administrative and support service activities 70,968 13,500 116 -601 83,983 1.4% Local municipalities 31,568 1,116 0 -23 32,661 0.5% Education 3,358 2,628 3 -380 5,609 0.1% Health care 75,014 8,995 3,458 -421 87,046 1.5% Arts and entertainment 85,589 20,356 13 -1,491 104,467 1.8% Other service activities 8,995 2,653 4,987 -416 16,219 0.3% Total 5,339,910 563,025 86,981 -38,875 Provision -11,571 -12,719 -14,585 Total loan portfolio 5,328,339 550,306 72,396 5,951,041 100% 31.12.2025 Stage 1 Stage 2 Stage 3 Provision Total % Individuals 1,839,715 127,018 9,168 -5,632 1,970,269 36.0% Agriculture 152,088 9,250 0 -473 160,865 2.9% Mining and Quarrying 11,307 0 0 -7 11,300 0.2% Manufacturing 181,597 12,832 47,825 -17,008 225,246 4.1% Energy 200,586 3,483 0 -895 203,174 3.7% Water and sewerage 45,624 328 0 -484 45,468 0.8% Construction 77,615 4,483 260 -292 82,066 1.5% Wholesale and retail trade 98,033 54,271 1,661 -1,300 152,665 2.8% Transportation and storage 107,260 4,375 59 -1,079 110,615 2.0% Accommodation and catering 113,391 5,629 3,707 -746 121,981 2.2% Information and communication 24,711 2,000 92 -116 26,687 0.5% Financial activities 143,994 801 0 -697 144,098 2.6% Real estate activities 1,641,369 166,064 25,607 -9,599 1,823,441 33.4% Professional, scientific and technical activities 51,652 8,255 514 -341 60,080 1.1% Administrative and support service activities 82,446 4,642 169 -393 86,864 1.6% Local municipalities 33,203 3,610 0 -65 36,748 0.7% Education 2,730 3,134 40 -607 5,297 0.1% Health care 73,458 10,936 95 -302 84,187 1.5% Arts and entertainment 60,068 31,171 2 -1,598 89,643 1.6% Other service activities 18,256 6,439 70 -68 24,697 0.5% Total 4,959,103 458,721 89,269 -41,702 Provision -11,307 -7,240 -23,155 Total loan portfolio 4,947,796 451,481 66,114 5,465,391 100%
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 33 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 8 Net Interest Income Interest income Q3 2026 9M 2026 Q3 2025 9M 2025 From balances with credit institutions and investment companies 0 15 932 2,100 From central bank 18,125 59,559 22,164 70,240 From debt securities 2,966 8,439 3,170 8,385 Leverage loans and lending of securities 470 1,410 375 1,206 Consumer loans 3,286 9,421 2,970 8,854 Hire purchase 600 1,815 647 1,983 Corporate loans 61,176 172,525 51,728 151,263 Credit card loans 357 1,053 341 987 Mortgage loans 20,955 57,901 17,517 53,528 Private loans 813 2,393 824 2,490 Other loans 185 491 110 347 Subtotal 108,933 315,022 100,778 301,383 Other similar interest income Leasing 2,788 7,853 2,496 8,032 Derivatives 658 2,363 875 2,175 From debt securities at fair value through profit or loss 4,733 7,791 145 1,847 Subtotal 8,179 18,007 3,516 12,054 Total 117,112 333,029 104,294 313,437 Interest expense Deposits of customers and loans received -43,782 -128,936 -44,680 -127,497 Other interest expense -744 -2,022 -381 -1,115 Subordinated liabilities -3,775 -11,503 -3,701 -9,640 Total -48,301 -142,461 -48,762 -138,252 Net interest income 68,811 190,568 55,532 175,185 Interest income on loans by customer location (interest on bank balances and bonds excluded): Q3 2026 9M 2026 Q3 2025 9M 2025 Estonia 70,968 201,318 63,810 196,082 Great Britain 19,662 53,544 13,198 32,608 Total 90,630 254,862 77,008 228,690
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 34 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 9 Net Fee and Commission Income Fee and commission income Q3 2026 9M 2026 Q3 2025 9M 2025 Security brokerage and commissions fees 1,378 4,464 1,622 5,097 Asset management and similar fees 4,152 12,133 3,564 10,944 Currency exchange fees conversion revenues 2,032 6,192 2,868 7,530 Fees from cards and payments 10,278 29,233 9,837 28,183 Other fee and commission income 3,541 10,740 3,488 10,604 Total 21,381 62,762 21,379 62,358 Fee and commission expense Security brokerage and commissions paid -1,056 -3,200 -896 -2,661 Expenses related to cards -649 -5,512 -2,341 -7,130 Expenses related to acquiring -2,344 -6,390 -2,452 -6,497 Other fee and commission expense -533 -1,520 -394 -1,124 Total -4,582 -16,622 -6,083 -17,412 Net fee and commission income 16,799 46,140 15,296 44,946 Fee and commission income by customer location: Q3 2026 9M 2026 Q3 2025 9M 2025 Estonia 18,989 56,192 19,042 55,117 Great Britain 2,392 6,570 2,337 7,241 Total 21,381 62,762 21,379 62,358 NOTE 10 Operating Expenses Q3 2026 9M 2026 Q3 2025 9M 2025 Wages, salaries and bonuses 17,068 53,904 16,066 48,667 Social security and other taxes* 7,004 21,994 6,285 19,240 Total personnel expenses 24,072 75,898 22,351 67,907 IT expenses 5,300 14,403 3,837 11,430 Information services and bank services 758 2,609 502 1,533 Marketing expenses 1,790 3,652 1,139 3,924 Office expenses 765 1,980 600 1,810 Transportation and communication expenses 193 576 261 670 Staff training and business trip expenses 612 1,368 484 1,215 Other outsourced services 3,532 10,615 3,354 9,117 Other administrative expenses 3,716 13,195 3,388 10,405 Depreciation of non-current assets 2,293 7,039 2,431 7,528 Operational lease payments 41 252 130 258 Other operating expenses 357 1,001 286 1,018 Total other operating expenses 19,357 56,690 16,412 48,908 Total operating expenses 43,429 132,588 38,763 116,815 *lump-sum payment of social, health and other insurances
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 35 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 11 Balances with the Central Bank, Credit Institutions and Investment Companies 30.09.2026 31.12.2025 Demand and term deposits with maturity less than 3 months 35,142 34,049 Due from investment companies 7,012 7,478 Demand deposit from central bank 2,959,569 4,270,361 Total 3,001,723 4,311,888 The minimum reserve requirement as at 30 September 2026 was 1% (31 December 2025: 1%) of all financial resources (customer deposits and loans received). The reserve requirement is to be fulfilled as a monthly average in euros or in the foreign financial assets approved by the central bank. NOTE 12 Deposits of Customers and Debt Securities in issue Deposits by type Individuals Financial entities Non-financial entities Public sector 30.09.2026 Demand deposits 1,619,629 1,406,316 2,048,842 74,290 5,149,077 Term deposits 1,579,862 113,739 843,040 49,617 2,586,258 Total 3,199,491 1,520,055 2,891,882 123,907 7,735,335 Deposits by type Individuals Financial entities Non-financial entities Public sector 31.12.2025 Demand deposits 1,345,169 1,760,381 2,146,959 54,492 5,307,001 Term deposits 1,808,438 145,262 785,080 88,657 2,827,437 Total 3,153,607 1,905,643 2,932,039 143,149 8,134,438 Loans from financial institutions and debt securities in issue 30.09.2026 31.12.2025 Debt securities in issue 674,688 489,820 Covered bonds 557,889 553,797 Total 1,232,577 1,043,617
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 36 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 13 Accounts payable and other liabilities Financial liabilities 30.09.2026 31.12.2025 Trade payables and payables to merchants 2,012 1,505 Other short-term financial liabilities 29,443 11,758 Lease liabilities 3,506 6,460 Payments in transit 35,589 23,539 Impairment of financial guarantees and undrawn loans 2,881 2,741 Financial guarantee contracts issued 1,478 2,023 Subtotal 74,909 48,026 Not financial liabilities Performance guarantee contracts issued 2,670 2,044 Tax liabilities 13,405 5,971 Payables to employees 7,895 7,045 Other short-term liabilities 968 1,102 Subtotal 24,938 16,162 Total 99,847 64,188 Payables to employees consist of unpaid salaries; bonus accruals and vacation pay accrual for the reporting period and the increase in liabilities is caused by the increase in the number of employees during the year. Payments in transit consist of foreign payments and payables to customers related to intermediation of securities transactions. All liabilities, except for financial guarantees, are payable within 12 months and are therefore recognised as current liabilities. NOTE 14 Contingent Liabilities Irrevocable transactions Performance guarantees Financial guarantees Letter of credit Unused loan commitments Total Liability in the contractual amount as at 30 September 2026 144,044 171,897 13,792 686,187 1,015,920 Liability in the contractual amount as at 31 December 2025 134,577 162,050 400 730,077 1,027,104 NOTE 15 Basic Earnings and Diluted Earnings Per Share In order to calculate basic earnings per share, net profit attributable to owners of the parent has been divided by the weighted average number of shares issued. The dilution effect when calculating the Diluted earnings per share comes from the share options granted to management and key employees. Q3 2026 9M 2026 Q3 2025 9M 2025 Total profit attributable to owners of the parent (EUR thousand) 37,084 81,045 25,703 84,320 Weighted average number of shares (in thousands of units) 327,856 327,856 327,856 326,023 Basic earnings per share (EUR) 0.11 0.25 0.08 0.26 Weighted average number of shares used for calculating the diluted earnings per shares (in thousands of units) 336,176 335,659 334,107 332,082 Diluted earnings per share (EUR) 0.11 0.24 0.08 0.25
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 37 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 16 Capital Management The goal of the Group’s capital management is to: ensure continuity of the Group’s business and ability to generate return for its shareholders; maintain a strong capital base supporting the development of business; comply with capital requirements as established by supervision authorities. The amount of capital that the Group managed as of 30.09.2026 was 902 326 thousand euros (31.12.2025 864 072 thousand euros). The goals of the Group’s capital management are set based on both the regulative requirements and additional internal buffer. The Group follows the general principles in its capital management: • The Group must be adequately capitalized at all times, ensuring the necessary capital to ensure economic preservation in all situations; • The main focus of the capital management is on tier 1 own funds, because only tier 1 own funds can absorb losses. All other capital layers in use are dependent of tier 1 own funds volume; • Capital of the Group can be divided in two: 1) regulative minimum capital and 2) capital buffer held by the Group. In order to reach its long-term economic goals the Group must on one hand strive towards proportional lowering of the regulative minimumcapital (through minimizing risks and high transparency). On the other hand, the Group must strive towards sufficient and conservative capital reserve, which will ensure economic preservation even in the event of severe negative risk scenario; • The risk appetite set by the Group is an important input to capital management planning and capital goal setting. Higher risk appetite requires maintaining higher capital buffer. Capital base 30.09.2026 31.12.2025 Paid-in share capital 32,786 32,786 Share premium 154,593 154,593 Reserves 4,713 4,713 Other reserves 644 -2,529 Retained earnings 507,300 448,314 Intangible assets (subtracted) -16,779 -18,787 Profit for the reporting period (COREP) 21,787 114,265 Other adjustments -659 -2 Dividends to be distributed 0 -55,736 Deferred tax assets that rely on future profitability and do not arise from temporary differences net of associated tax liabilities 0 0 Insufficient coverage for non-performing exposures -752 -204 CET1 capital elements or deductions -16,000 -13,500 CET1 capital elements or deductions (other) -489 0 CET1 instruments of financial sector entities where the institution has a significant investment -6,366 -6,023 CET1 instruments of financial sector entities where the institution has not a significant investment 0 0 Total Core Tier 1 capital 680,778 657,890 Additional Tier 1 capital 86,657 70,258 Total Tier 1 capital 767,435 728,148 Subordinated liabilities 134,891 135,924 Total Tier 2 capital 134,891 135,924 Total net own funds 902,326 864,072 The Group has complied with all regulative capital requirements during the financial year and in previous year.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 38 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 17 Transactions with related parties In preparing the financial statements of the Group, the following entities have been considered related parties: • owners that have significant impact on the Group and the entities related to them; • members of the management board and legal entities controlled by them (together referred to as management); • members of the supervisory board; • close relatives of the persons mentioned above and the entities related to them. Transactions Q3 2026 9M 2026 Q3 2025 9M 2025 Interest income 693 2,073 824 2,547 incl. management 1 3 16 65 incl. shareholders that have significant influence 692 2,070 808 2,482 Fee and commission income 5 29 19 72 Incl. management 1 3 1 5 incl. shareholders that have significant influence 4 26 18 67 Interest expenses from deposits 23 90 57 170 incl. management 2 8 6 20 incl. shareholders that have significant influence 21 82 51 150 Interest expenses from subordinated loans 0 2 35 143 incl. management 0 2 1 5 incl. shareholders that have significant influence 0 0 34 138 Balances 30.09.2026 31.12.2025 Loans and receivables as at the year-end 42,175 52,455 incl. management 115 158 incl. shareholders that have significant influence 42,060 52,297 Deposits as at the year-end 9,085 14,606 incl. management 483 730 incl. shareholders that have significant influence 8,592 13,876 Subordinated loans as at the year-end 2 1,245 incl. management 2 37 incl. shareholders that have significant influence 0 1,208 The table provides an overview of the material balances and transactions involving related parties. All other transactions involving the close relatives and the entities related to members of the management board and supervisory board and the minority shareholders of the parent company AS LHV Group have occurred according to the overall price list. The management and shareholders with significant influence include also their related entities and persons. Loans granted to related parties are issued at market conditions. In Q3, salaries and other compensations paid to the management of the parent AS LHV Group totalled EUR 189 thousand (Q3 2025: EUR 778 thousand), including all taxes. As at 30.09.2026, remuneration for September and accrued holiday pay in the amount of EUR 86 thousand (31.12.2025: EUR 60 thousand, Note 13) is reported as a payable to management. The Group did not have any long-term payables or commitments to the members of the Management Board and the Supervisory Board as at 30.09.2026 and 31.12.2025 (pension liabilities, termination benefits, etc.). In Q3 2026, the remuneration paid to the members of the Group’s Supervisory Board totalled EUR 60 thousand (Q3 2025: EUR 21 thousand). Management is related to the share-based compensation plan. In Q3 2026 the share-based compensation to management amounted to EUR 100 thousand (Q3 2025: EUR 437 thousand). The Group has signed contracts with the members of the Management Board which do not provide for severance benefits upon termination of the contract. In any matters not regulated by the contract, the parties adhere to the procedure specified in the legislation of the Republic of Estonia.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 39 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 18 Tangible and intangible assets (in thousands of euros) Tangible assets Right of use assets Total tangible assets Intangible assets Costs incurred for the acquisition of customer contracts Total intangible assets Balance as at 31.12.2024 Cost 20,213 20,879 41,092 23,281 19,624 42,905 Accumulated depreciation and amortisation -11,327 -11,559 -22,886 -16,077 -12,785 -28,862 Carrying amount 31.12.2024 8,886 9,320 18,206 7,204 6,839 14,043 Additions 79 8 87 2,190 422 2,612 Write-off -4,644 0 -4,644 -3,363 0 -3,363 Depreciation/amortisation -3,262 -3,049 -6,311 -3,304 -1,141 -4,445 Recalculations -71 -107 -178 -188 132 -56 Balance as at 31.12.2025 Cost 15,577 20,780 36,357 21,920 20,178 42,098 Accumulated depreciation and amortisation -9,945 -14,608 -24,553 -16,018 -13,926 -29,944 Carrying amount 31.12.2025 5,632 6,172 11,804 5,902 6,252 12,154 Additions 7,608 0 7,608 537 0 537 Depreciation/amortisation -2,293 -2,271 -4,564 -2,117 -830 -2,947 Recalculations 20 21 41 28 0 28 Balance as at 30.09.2026 Cost 23,205 20,801 44,006 22,485 20,178 42,663 Accumulated depreciation and amortisation -12,238 -16,879 -29,117 -18,135 -14,756 -32,891 Carrying amount 30.09.2026 10,967 3,922 14,889 4,350 5,422 9,772 NOTE 19 Subordinated debts Subordinated debts (in thousands of euros) Year of issue Amount Interest rate Maturity date Subordinated Tier 2 liabilities 2023 35,000 10.5% September 29. 2033 Subordinated Tier 2 liabilities 2024 20,000 6.0% November 15. 2034 Subordinated Tier 2 liabilities 2025 80,000 5.5% September 16. 2035 Additional subordinated Tier 1 liabilities 2022 20,000 10.5% Perpetual Additional subordinated Tier 1 liabilities 2025 50,000 9.5% Perpetual Additional subordinated Tier 1 liabilities 2026 15,000 8.0% Perpetual Subordinated debt as at 30.09.2026 220,000 Subordinated debt as at 31.12.2025 205,000
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 40 / 43 AS LHV Group 2026 Q3 Interim Report NOTE 20 Changes in impairments Changes in impairments Balance as at 01.01 Impairment provi- sions/reversals set up during the year Written off during the reporting period Balance as at 30.09 Corporate loans -34,868 -14,629 18,686 -30,811 Consumer loans -3,527 -1,759 1,342 -3,944 Investment financing -86 -12 58 -40 Leasing -1,134 -734 412 -1,456 Private loans -2,087 -980 443 -2,624 Total 2026 -41,702 -18,114 20,941 -38,875 Changes in impairments Balance as at 01.01 Impairment provi- sions/reversals set up during the year Written off during the reporting period Balance as at 31.12 Corporate loans -31,004 -18,428 14,564 -34,868 Consumer loans -4,911 -1,701 3,085 -3,527 Investment financing -5 -84 3 -86 Leasing -1,589 -412 867 -1,134 Private loans -2,304 -950 1,167 -2,087 Total 2025 -39,813 -21,575 19,686 -41,702
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 41 / 43 AS LHV Group 2026 Q3 Interim Report Shareholders of AS LHV Group AS LHV Group has a total of 327 856 146 ordinary shares with a nominal value of 0.1 euro. As at 30 September 2026, AS LHV Group has 39,853 shareholders: • 115,928,961 shares (35.36%) were held by members of the Supervisory Board and Management Board, and related parties. • 211,927,185 shares (64.64%) were held by Estonian entrepreneurs and investors, and related parties. Top ten shareholders as at 30 September 2026: Number of shares Participation Name of shareholder 37,162,070 11.3% AS Lõhmus Holdings 35,210,370 10.7% Viisemann Investments AG 25,449,470 7.8% Rain Lõhmus 12,446,070 3.8% Krenno OÜ 11,310,000 3.5% AS Genteel 10,314,510 3.2% Ambient Sound Investments OÜ 7,188,990 2.2% SIA Krugmans 7,139,436 2.2% AS Altamira 6,800,000 2.1% Bonaares OÜ 6,037,590 1.8% OÜ Merona Systems Shares held by members of the Management Board and Supervisory Board Mihkel Torim holds 10 shares. Kadri Haldre holds 34,377 shares. Meelis Paakspuu holds 977,996 shares. Rain Lõhmus holds 25,449,470 shares, AS Lõhmus Holdings 37,162,070 shares and OÜ Merona Systems 6,037,590 shares. Andres Viisemann holds 699,739 shares and Viisemann Investment AG holds 35,210,370 shares. Tauno Tats does not hold shares, Ambient Sound Investments OÜ holds 10,314,510 shares. Kairi Pauskar holds 12,204 shares. Christian Schröder does not hold shares. Liisi Znatokov does not hold shares.
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 42 / 43 AS LHV Group 2026 Q3 Interim Report Supervisory Boar ds and Management Boards of AS LHV Group and its Subsidiaries AS LHV Gr oup Supervisory board: Rain Lõhmus, Andres Viisemann, Tauno Tats, Liisi Znatokov, Kairi Pauskar, Christian Schröder Management board: Mihkel Torim, Kadri Haldre, Meelis Paakspuu AS LHV Varahaldus Supervisory board: Mihkel Torim, Andres Viisemann, Erki Kilu Management board: Vahur Vallistu, Eve Sirel AS LHV Pank Supervisory board: Mihkel Torim, Rain Lõhmus, Andres Viisemann, Liisi Znatokov, Kairi Pauskar, Tiina Mõis, Indrek Heinloo Management board: Erki Kilu, Meelis Paakspuu, Indrek Nuume, Kadri Haldre, Mihkel Kasepuu AS LHV Finance Supervisory board: Erki Kilu, Mihkel Torim, Veiko Poolgas, Jaan Koppel Management board: Heidy Kütt AS LHV Kindlustus Supervisory board: Mihkel Torim, Erki Kilu, Veiko Poolgas, Jaan Koppel Management board: Martti-Sten Merilai, Taavi Lehemaa LHV UK Limited Directors: Mihkel Torim, Erki Kilu, Paul Horner, Keith Butcher, Sally Veitch, Gill Lungley, Rachelle Frewer, Kris Brewster, Christian Schröder AS LHV Paytech Supervisory board: Erki Kilu, Mihkel Torim Management board: Lauri Teder
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AS LHV GROUP TARTU MNT 2, 10145 TALLINN (+372) 6 802 670 info@lhv.ee LHV.EE 43 / 43 AS LHV Group 2026 Q3 Interim Report Signatur es of the Management Board to the Condensed Consolidated Interim Report The Management Board has prepared the summar y of results for January to September 2026 period the condensed consolidated interim financial statements of AS LHV Group for the 9-months period ended 30 September 2026. The management board confirms that according to their best knowledge the interim report presents a fair view of LHV Group AS’s assets, liabilities, financial position and profit or loss of the issuer and the entities involved in the consolidation as a whole and contains a description of the main risks and doubts. 19.10.2026 Mihkel T orim Kadri Haldre Meelis Paakspuu