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August 2026 18:41 4G 19 ← Avanza Impact by Circulus ♡ ⭑ Översikt Detaljer Nyheter < Hållbarhet Fondens hållbarhetss AVANZA III Historisk utveckling Hållbarhetsfokus Ja Svanenmärk FN : s hållba 14 av 17 22:50 God morgon Spara eller slösa ? Idag är det löning ! Ông kể 09 kr tockholm 30 Company presentation and investment story Hållbarhetsanalys Hållbarhetsindikato Hållbarhetsbetyg 00000 Hållbarhetsstämp Värdepappersutv . idag +7 234 kr Avanza Bank Holding AB Sophiris Bio Inc +10 842 kr -5 567 kr 017 2018 2019 2020 edan start Insikter om ditt sparande Fonden f Din månad OMX Stockholm 30 + 18,05 % 20
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Avanza’s evolution since foundation in 1999 Overview 2
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Sweden’s leading platform for savings and investments No. 1 long-term target to have the most satisfied savings customers in Sweden – won for the last 11 consecutive years 1,433,200 customers SEK 654 bn in savings capital 526 employees and eNPS of 64 5.8% market share of the Swedish savings market No. 1 long-term target is to have the most satisfied savings customers in Sweden – won for the last 16 consecutive years 2,352,600 customers SEK 1,216 bn in savings capital employees and eNPS of 697 57 market share of the Swedish savings market8.4% Overview 3 31 March 2026Yearly average 2025 31 July 2026 31 July 2026SQI, December 2025
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Over 80,000 investment opportunities, together with decision-making tools, inspiration and education Equity trading Mutual funds Retirement plans Savings accounts Mortgages and margin lending 4 Overview
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We don’t give advice, but focus on decision- making tools 5 Overview • The Avanza Academy • The Avanza blog, podcasts and YouTube • Auto funds • Portfolio generator • Stock generator • Independent news site Placera • Analysis tools
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Business model built on scale 46 14 0 200 000 400 000 600 000 800 000 1 000 000 1 200 000 1 400 000 0 20 40 60 80 100 120 140 160 180 200 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 H1 Savings capital, SEK m Basis points Savings capital Income/savings capital Cost/savings capital 73 142 6 Overview
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Capital light, fee-based business model 2025 % of income Net brokerage income 28 Fund commissions, net 17 Currency-related income, net 16 Net interest income (NII) 33 Other income, net 1) 6 1) Mainly income from Avanza Markets, compensation for distribution and stock lending, but also advertising sales, subscriptions and customer’s add-on services. 7 Overview • Mainly fixed costs, ~60% staff related • High scalability • Self-finances through shareholders’ equity and customer deposits • High-interest rate sensitivity • Capital-efficient and low risk balance sheet
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8 Limited on balance sheet lending SEK 34.3 bn Strong position and asset quality Overview On balance sheet deposits SEK 113.2 bn CET1 ratio 21.9% Leverage ratio 4.7% 43% Solid financial position ROE Profit margin 60% High platform availability 99.9% No realised credit losses for over 10 years 30 June 2026 30 June 2026 April – June 2026 April – June 2026 30 June 2026
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9 We focus on what’s best for the customer Overview Cheaper, Better, Simpler The best tool to help you successfully manage your finances Create a better future for millions of people Why? How? What?
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A typical Avanza product team is fully equipped to reach its mission 10 • Product teams are experts within their domain and have all necessary skills in product development • The same team innovates, optimises and maintains their product throughout its life cycle • The team works within a larger area to ensure alignment with overall customer journey, product strategy and goals QA Product owner Front-end Back-end UI Designer UX Product specialist Front-end Back-end Overview
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11 We innovate together with our customers Customers can sign up for beta functionality to become test users of early releases of new features and provide feedback. When we release a new feature, we initially roll it out only to a limited number of customers, await their feedback and make improvements accordingly, before releasing it broadly. Our “feedback buddy” system also keeps our product teams close to the customers. We work systematically with A/B testing, sharing insights between all product teams. We also meet with hundreds of customers for interviews and user tests each year – and conduct surveys to understand our customers’ needs. Overview
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12 World-class user experience It is in our DNA to constantly make improvements for the benefit of our customers. Our customer experience is extremely quick, and our platform is packed with real-time data. The key is to create an experience that empowers our customers to make informed investment decisions. We collect customer data systematically – no one else in the industry has as much data and knowledge about retail savings and investments as Avanza. We have a well-developed design system that allows us to maintain consistency in our product and roll out design changes within minutes. During the past year, we have taken major steps to make our services accessible for customers with disabilities. Overview
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Novice A diversified customer base of over 2 million Save Invest Trade For fun Our customers have different types of behaviours and needs – and our offering includes something for everyone Risk-averse, is not active and wants everything to run smoothly with minimal effort Takes an interest in their economy, but needs some help and would like to learn more Very interested in savings and has a well thought out long-term strategy for their investments Professional trader, very active and makes both long- and short-term investments Sees investing as a hobby, makes decisions based on gut feeling or recommendations and hopes for ”skyrockets” 13 Overview
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1,433,200 customers SEK 654 bn in savings capital NPS Daily active users R12M ~ 465,400 14 41 Highest considered bank in Sweden in Verian’s yearly survey A strong brand and a loyal customer base Most satisfied savings customers in Sweden – won for the last 16 consecutive years Churn R12M 0.8% Overview SQI, 2025 30 June 2026 30 June 2026SQI, 2025
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Our superior customer experience, also makes us the perfect partner for product challengers Mutual fund platform Over 1,400 external funds on the platform and exclusive cooperations for actively managed funds Mortgages Our partners deliver low interest mortgages through our interface Exchange traded products Exclusive exchange traded products with 0 brokerage fees Overview 15
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16 Social, environmental and economic sustainability are reflected in what we do and who we are Overview Working actively to increase gender equality, diversity and employee engagement as well as tracking our climate impact and striving to reduce our ecological footprint – working towards net zero emissions. Sustainable organisation Working for improved financial literacy, more transparency in the finance industry and for increased gender equality in savings. Educate & challenge Sustainable investments Offering sustainable alternatives and striving to make it easier for our customers to invest sustainably through concise information, decision support and education – while we do not offer investment advice.
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Customer growth drives net inflow -10 000 -5 000 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 -40 000 -20 000 0 20 000 40 000 60 000 80 000 100 000 120 000 140 000 160 000 Net inflow, SEK m New customers Customer inflow Net inflow 17 Overview
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-60% -50% -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 80% Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Avanza´s market share of the savings capital Avanza´s market share of the net inflow Avanza´s market share of the net inflow, R12m Market share of 10% rolling 12M of net savings on the Swedish savings market 1) 18 The net inflow to Avanza is seasonally higher in Q1 and lower in Q2. In Q2 this is due to dividends, tax refunds, higher pension premiums and partly annual payments to contractual pensions, which are not included in Avanza's customer offering. 1) SCB has revised the statistics for the entire time series in Q3 2024, with additional adjustments in Q4 2024, Q1 2025 and in Q4 2025. As a result, historical figures have been updated. Q4 2022 includes a portfolio sale of collectively agreed occupational pensions of SEK 2.4 billion to Futur Pension Avanza’s share of the net inflow was affected by large outflows in deposits and individual pensions at other institutions in Q4 2023 as well as outflows in deposits in Q3 2024. Position
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SEK 1,475 bn SEK 4,567 bn SEK 2,823 bn SEK 2,118 bn SEK 1,739 bn 14,8% 1,9% 3,7% 11,9% 23,9% 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 5 000 Individual pensions incl. life insurance Occupational pensions Deposits/savings accounts Mutual funds Shares, bonds and other securities Significant growth potential with 8.4% market share of the Swedish savings market • The Swedish savings market: SEK 12,700 billion2) • Annual market growth of on average 6% last ten years2) • An estimated 70% of the Swedish population saves in funds3) and 27% own shares4) 19 , , , , , , , , , 2) SCB data as of 31 March 2026 3) Swedish Investment Fund Association 4) Euroclear data as of 31 March 2026 1) SCB has revised the statistics for the entire time series in Q3 2024, with additional adjustments in Q4 2024, Q1 2025, and in Q4 2025. As a result, historical figures have been updated. 5) The occupational pension market can be divided into traditional life and unit-linked insurance. Traditional life stands for 60 per cent and unit-linked for around 40 per cent. Avanza is active within unit-linked insurance outside of collectively agreed occupational pensions, which at the end of 2024 was valued atSEK 1,011 billion. The figures are published with a lag. SEK 1,011 bn5) Position Avanza's share Capital on the Swedish savings market
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The largest Swedish participant in stock market transactions and turnover on Nasdaq OMX and First North • Market share of 20.4% in terms of transactions and 8.1% of turnover in Q2 2026 Transactions Turnover 20 Position Avanza SHB Nordea DNB Carnegie Skandiabanken Swedbank Nordnet SEB
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Age distribution among new customers Market penetration Total share of Swedish population: 20.5% as of 1 November 2025 • ages 20-29: 37% • ages 30-39: 39% • ages 40-49: 30% Highest penetration in urban areas. Stockholm region, snapshot (Women/Men) as of 1 November 2025: • ages 20-29: 35%/48% • ages 30-39: 41%/51% • ages 40-49: 31%/41% • ages 50-59: 26%/33% • ages 60-69: 21%/25% 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 61 64 67 70 73 76 79 82 85 88 91 94 97 100 Share, % Age 2025 2022 2017 2012 2007 21 Position Source: SCB, November 2025
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Potential in both existing and new customers • Increasing share of wallet in existing customer base • Continue to attract young people and keep them happy as wealth grow by age • The broad offering makes us relevant for larger groups of people • Increased savings among women • Regulation and digitalisation have decreased friction, created more awareness and simplified self-directed financial management • More reasons for people to take responsibility for their own savings as public pension and welfare systems are covering fewer needs • Facilitate and inspire sustainable savings to attract a broader audience 22 Growth potential
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Savings capital grow by age 0,0 0,2 0,4 0,6 0,8 1,0 1,2 1,4 1,6 0,00% 0,50% 1,00% 1,50% 2,00% 2,50% 3,00% 3,50% 4,00% 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 Average savings capital, SEK m Customers, % Age Average savings capital by age Total customer base 23 Growth potential 31 December 2025
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Average savings capital grow by number of years as a customer at Avanza 24 Growth potential 31 December 2025 0 100 000 200 000 300 000 400 000 500 000 600 000 700 000 1 month 1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years Savings capital, SEK
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Strong potential when wealth is transferred to the next generation 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% 3,5% 18 years 21 years 24 years 27 years 30 years 33 years 36 years 39 years 42 years 45 years 48 years 51 years 54 years 57 years 60 years 63 years 66 years 69 years 72 years 75 years 78 years 81 years 84 years 87 years 90 years 93 years 96 years 99 years Age distribution Swedish population and Avanza’s customers Sweden Avanza Median age Sweden 492) Median age Avanza 391) 25 Growth potential 1) 31 December 2025 2) SCB, November 2025
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One of the fastest growing pension companies in Sweden 0 10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 90 000 100 000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Savings capital, SEK m 7.5% Swedish occupational pension market SEK 1,011 billion1) • Competitiveness with broad investment opportunities and no annual insurance fees • The strong offer an advantage when the transfer right is improved to the benefit of the consumer 1) The occupational pension market can be divided into traditional life and unit-linked insurance. Traditional life stands for 60 per cent and unit-linked for around 40 per cent. Avanza is active within unit-linked insurance outside of collectively agreed occupational pensions, which at the end of 2024 was valued at SEK 1,011 billion. The figures are published with a lag. 26 Growth potential
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Enabling customers to apply for mortgages from various external lenders • Important part of customers’ personal finances • Frees up savings capital with other banks 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 H1 Volume, SEK m Avanza Private Banking mortgages External mortgages 27 Growth potential
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Prepared to capture opportunities in a digitalised world… Increasing digitalisation is leading to a more agile financial market. A more mobile occupational pension market. Data from different financial players can be easily shared with third parties by customer consent with the hope to make it easier for consumers to compare different products and switch to new providers. Increased transparency and consumer protection. 28 Growth potential
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Customer satisfaction and employee engagement create shareholder value over time 29 Long-term targets • Customer satisfaction & Employee engagement • Growth in customers and savings capital • Profitability and effective management of the balance sheet Business model • More stable revenues through funds and mortgages • High scalability • Cost control vital • Top modern IT platform and continued strong innovation Customer proposition • Cheaper, better and simpler offering • High user experience • Broad range of product • Information, education and decision-making tools Growth potential • Strong potential in existing customer base • Young customers a potential when wealth is transferred • Public pension and welfare systems are covering fewer needs To summarise
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Appendix Operations 31 Financials 32-37 Balance sheet data 38-43 Contact details 44 30
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Net zero emissions Avanza’s goal is to reduce scope 1, 2 and 3 emissions by 50 percent by 2030 and to achieve net zero emissions of greenhouse gases as soon as possible, by 2045 the latest. This includes emissions generated by the bank itself from energy consumption and business travels, as well as indirect emissions such as the investments made by our fund company. Strengthen the sustainability rating in our customers’ investments Increase gender equality in savings We are continuously improving our decision tools, making it easier for our customers to make sustainable investments. Our goal is lower sustainability risk in our customers portfolios. The share of women on Avanza’s platform today is 40 per cent. The share of savings capital they hold is only 27 per cent. 31 Our targets for a sustainable future
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32 Financial overview Q2 2026 Q1 2026 ∆ % Q2 2025 ∆ % 2026 H1 2025 H1 ∆ % Operating income, SEK m 1,334 1,257 6 1,062 26 2,591 2,214 17 Operating expenses, SEK m -406 -377 8 -353 15 -783 -687 14 Operating profit, SEK m 928 879 6 709 31 1,807 1,527 18 Operating margin, % 70 70 0 67 3 70 69 1 Income to savings capital ratio, % 0.47 0.47 0.00 0.44 0.03 0.46 0.46 0.00 Costs to savings capital ratio, % 0.14 0.14 0.00 0.15 0.00 0.14 0.14 0.00 ROE, % 43 40 4 37 6 42 41 1 EPS, SEK 4.97 4.71 6 3.81 30 9.68 8.31 16
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33 2 349 2 286 2 973 3 437 3 900 4 495 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 5 000 2020 2021 2022 2023 2024 2025 Total income Income from sales of shares in Stabelo Net brokerage income Income from mutual funds Net interest income Other income Currency-related income Long-term revenue development
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Income split H1 2026 SEK m % of income Net brokerage income 704 27 Fund commissions, net 436 17 Currency-related income, net 426 16 Net interest income 904 35 Other income, net1) 121 5 Total 2,591 100 1) Mainly income from Avanza Markets, compensation for distribution and stock lending, but also advertising sales, subscriptions and customer’s add-on services. 34
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Annual cost development 35 594 657 734 864 1 280 1 413 0 200 400 600 800 1000 1200 1400 1600 2020 2021 2022 2023 2024 2025 Operating expenses, SEK m Total expenses Non-recurring items Personnel Marketing Depreciation Other expenses
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Costs H1 2026 SEK m % of total costs Personnel -475 61% IT systems and licenses -117 15% External services -52 7% Marketing -20 3% Depreciation, amortisation and impairment -50 6% Other -69 9% Total costs before credit losses -783 100 Credit losses, net1) -1 - 1) Reported credit losses are attributable to calculations of expected credit losses according to IFRS9. 36 Comments Regarding technology investments, our philosophy is to expense as much as possible through the income statement. Our aim is to maintain the balance sheet as clean and simple as possible, and we do not want to postpone costs.
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Operating margin at high levels 418 520 1 576 2 437 1 940 2 292 2 621 3 078 0 10 20 30 40 50 60 70 80 90 100 0 500 1 000 1 500 2 000 2 500 3 000 3 500 2018 2019 2020 2021 2022 2023 2024 2025 Operating margin, % Operating profit, SEK m Operating profit Operating margin 37
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Balance sheet, 30 June 2026 Assets SEK m Liabilities & equity SEK m Lending to credit institutions1) 13,799 Deposits 113,194 Loans to the public 34,254 Liabilities in insurance operations 349,714 Bonds 71,316 Other liabilities 2,063 Assets in insurance operations 349,710 Shareholders’ equity 7,977 Other assets 3,869 Total assets 472,948 Total liabilities and shareholders’ equity 472,948 Comments • Mainly self-financed through shareholders’ equity and customer deposits • Surplus-liquidity of SEK 85,115m invested in covered bonds, at the Riksbank and O/N • The value of the insurance liabilities tracks the value of the insurance assets since the policyholders bear the direct investment risk. No products with guaranteed return is offered 1) Including balances at central banks and treasury bills eligible for refinancing. 38
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Low-risk loan book • Funded through customer deposits spread across a very large number of households • All lending is secured • Mortgage lending limited to 25 per cent of liquidity • Private Banking mortgage requires SEK 3 million of savings capital. Average loan-to-value of 39 per cent • Margin lending with collateral in securities. No significant concentration of pledged securities. Average loan-to-value of 25 per cent • No realised credit losses attributable to events after 2011 Private Banking mortgage Margin lending Loans to the public of SEK 34,3 bn 39 30 June 2026
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Low cost of risk with marginal credit losses, SEK m - credit losses of less than 0.02% annually 2001 to 2025 40 0% 10% 20% 30% 40% 50% 0 5 000 10 000 15 000 20 000 25 000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Internally financed lending Total credit losses (~0) Internally financed lending to deposit ratio
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Treasury portfolio composition 41 • Conservative credit profile • All interest-bearing securities have the highest bond rating • Balanced maturity structure • Exposure in SEK • All securities can be pledged to the Swedish Central Bank Covered bonds, 84% Municipal bonds, 14% Swedish Central Bank Certificates, 2% 31 December 2025
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Stable share of liquidity of total savings capital 42 • Deposits from the public are considered one of the most secure sources of financing • Liquidity risk is reduced as deposits are spread across a very large number of households 0% 5% 10% 15% 20% 25% Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 Including external savings accounts Excluding external savings accounts
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Strong capital position 30 June 20261) 31 December 2025 Total capital requirement, %2) 17.5 17.5 Capital surplus, % 10.6 8.9 Total capital ratio, % 28.1 26.5 Leverage ratio,% 4.7 4.4 Capital surplus after LR-requirement and P2-guidance, % 3) 1.2 0.9 1) The consolidated situation as of 30 June 2026 has changed compared to previous reference period as a result of EBA GL 2026/01 . 2) Including external buffers and Pillar 2 requirements. 3) Requirement of 3% and P2-guidance of 0.5% 43
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Historical financial key data 2001– Q2 2026 is available in Excel at: avanza.se/keydata ir@avanza.se More contact details Updated 05 August 2026 44