Interim report
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Hoist Finance Delårsrapport januari – mars 20251 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 1) For further explanations, see definitions at the end of this report. 2) Of which co-investments SEK 4,288m (3,100). Key ratios1) Key events in the third quarter • Profit before tax amounted to SEK 503m, compared with SEK 349m in the corresponding quarter of the previous year. Return on equity was 21.2 per cent, compared with 17 .6 per cent in the comparative quarter. • Investments in new portfolios totalled SEK 1.6 billion during the quarter, resulting in a total investment portfolio of SEK 40.0 billion at the end of the period. After the quarter had been closed, another SEK 1 billion of portfolio investments have been signed. • Collection performance at 103 per cent, same level as the corre- sponding quarter of the previous year. • Robust capital- and liquidity levels with a CET1-ratio of 12.88 per cent as at 30 September. • The board of directors decided to raise the company’s profitability target to a return on equity exceeding 20 per cent (before >15 per cent) and also adjusted the dividend policy to 30–40 per cent (today, 25-30 per cent). The targets for earnings per share-growth of 15 per cent, and a CET1-ratio at 2.3–3.3 percentage points above regulatory requirements, remain unchanged. • The company announced a new portfolio growth ambition of an investment portfolio at SEK 60 billion by the end of 2030. SEK m Quarter 3 2026 Quarter 3 2025 Change % Quarter 2 2026 Change % Jan-Sep 2026 Jan-Sep 2025 Change % Full-year 2025 Total operating income 1,403 1,051 33 1,444 −3 4,015 3,125 28 4,405 Profit/loss before tax 503 349 44 632 −20 1,529 992 54 1,484 Profit/loss for the period 384 284 35 474 −19 1,195 778 54 1,139 Return on equity, % 21.2 1 7. 6 3.6 pp 2 7. 5 –6.3 pp 22.6 16.2 6 pp 1 7. 6 Investment portfolio acquisitions 1,585 2,355 −33 6,056 −74 9,677 5,957 62 9,943 Basic earnings per share, SEK 4.05 3.00 35 5.15 −21 12.76 7 .75 65 11.59 Diluted earnings per share, SEK 4.05 3.00 35 5.15 −21 12.76 7 .75 65 11.59 SEK m 30 Sep 2026 30 Sep 2025 Change % 30 Jun 2026 Change % 31 Dec 2025 Gross 180-month ERC2) 67 ,836 52,258 30 66,864 1 56,571 Investment portfolio value 39,973 31,565 27 39,208 2 33,356 CET1 ratio, % 12.88 12.21 0.67 pp 13.03 –0.15 pp 10.80 SEK 39,973m 21.2% SEK 4.05 12.88% Investment portfolio value Return on equity Earnings per share CET1 ratio Interim report third quarter 2026
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Hoist Finance Delårsrapport januari – mars 20252 Statement by the CEO2 Statement by the CEO Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Dear Shareholders, The third quarter of 2026 was yet another stable and profitable quarter for Hoist Finance. We invested SEK 1.6 billion in new portfolios, bring- ing our total investment portfolio to SEK 40 billion. Profit before tax amounted to SEK 503 million and return on equity came in at a strong 21.2 per cent. The third quarter is traditionally the weakest quarter of the year due to summer holiday periods in Europe. Despite this, we delivered strong collection performance at 103 per cent, with total collections of nearly SEK 3 billion. On 9 September, we held a Capital Markets Day at which we presented Hoist Finance’s view of the market and gave a strategic update. We also updated two of our four financial targets: • Return on equity: The target was raised to at least 20 per cent. • Earnings per share (adjusted for AT1 costs): We aim to generate an average annual growth rate of 15 per cent up to 2030 (the same level as previously). • Capital base: A CET1-ratio that is 2.3–3.3 percentage points above regulatory requirements (as previously). • Dividend policy: from the full year 2027 , increase the dividend to 30–40 per cent of net profit, with the level to be determined annually taking into account our capital position and the prospects for profitable growth. We also presented a new portfolio growth ambition, aiming for an investment portfolio of SEK 60 billion by the end of 2030. I would like to emphasise once again that this is merely an ambition; no one at Hoist Finance is measured on the basis of investment volume – for us, it is return on equity that counts. Based on that reasoning, one might ask why we have a portfolio growth ambition at all? We are profitable today – why not stop there and distribute more capital to our shareholders? We want to continue to grow because we see more scale benefits coming through from a larger portfolio. In recent years, we have improved the efficiency of our organ- isation and implemented a flexible operational model – and we see room to strengthen our operational leverage further, which is reflected in our raised return on equity target. Hoist Finance remains a growth compa- ny; when we invest at the rates of return we are currently achieving, it is through growth that we create the most value for our shareholders and other stakeholders. I would like to take this opportunity to thank everyone who joined in on our Capital Markets Day, both in person and online, for your contri- butions to the event, which featured many questions and interesting discussions. For those of you who were not able to attend, a recording is available on our website. Investment Management We invested SEK 1.6 billion in new portfolios during the quarter, bringing our total investments for the first nine months of the year to SEK 9.7 billion. This compares with SEK 9.9 billion invested in the full year 2025. Statement by the CEO Photo: Håkan Målbäck Statement by the CEO Our investment levels will continue to fluctuate from quarter to quarter, reflecting both our discipline and sellers’ steering, where the pressure to close portfolio sales is generally higher ahead of half-year and full- year closures. The market remains active and we have a strong pipeline for the final months of the year and the start of 2027 . The vast majority of investments during the third quarter took place in the primary market; meaning portfolios we acquired directly from lending banks. We invested mainly in France, Italy and Poland, and also closed a number of portfolios in the UK. Hoist Finance remains a growth company; when we invest at the rates of return we are currently achieving, it is through growth that we create the most value for our shareholders.
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Hoist Finance Delårsrapport januari – mars 20253 Statement by the CEO3 Statement by the CEO Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Loan Management Operationally, the third quarter – and August in particular – is our seasonally weakest quarter, given the holiday periods. Despite this, total collections amounted to almost SEK 3 billion – in line with the second quarter – with strong collection performance at 103 per cent. We have a proactive model whereby we continuously monitor the col- lection performance across all our portfolios and are quick to implement measures if and when generated cash flow deviates from the forecast. During the quarter, we have focused on the integration of Azzurro Associates in the UK, which we acquired during the final days of the second quarter. Through the Azzurro acquisition, we have particularly strengthened our position in the SME segment, with in-house teams in both loan management and investment management. Azzurro also has a small unit that provides loan management as a service. This is not new in Hoist Finance; we have, for example, had such a unit in Germany for many years. However, our strategy remains to focus on managing portfolios that we own ourselves. Capital and Funding During the third quarter, our average cost of funding fell from 3.23 per cent to 3.21 per cent, despite higher market interest rates. Rising market interest rates affect our cost of funding with a delay, as all de- posits we take in through the savings accounts we offer across Europe are fixed-term. Our bonds often have floating interest rates linked to STIBOR, so there is a little more fluctuation there. At the same time, rising interest rates also mean that our liquidity reserve – which stood at SEK 27 billion as at the third quarter – yields a better return. In this way, we have a natural ‘hedge’ when the markets are volatile. And, not least, rising market interest affect pricing on the non-performing loans market, as future cash flows are valued at a lower rate. Our capital position remains strong, with solid organic capital gener- ation. At the end of the third quarter, our CET1 ratio stood at 12.9 per cent, approximately 4 percentage points above the regulatory require- ment. We thereby have ample purchasing power also going forward. Outlook As we outlined at our Capital Markets Day, the market for non-per- forming loan portfolios is constantly changing. It is always difficult to predict how the external environment will develop, but at present, we are seeing concerns over interest rates, inflation, sovereign debt levels and currency markets in Europe and the US – and we are seeing a transaction portfolio market where banks are selling off non-performing loans earlier than before. Various initiatives from regulators are pushing banks to keep their balance sheets as orderly as possible, which is driving structural changes in both the transaction market and in loan management. To succeed in this changing environment, a high degree of flexibility is required. This is where Hoist Finance stands out. We are a nimble and forward-looking organisation, from the board right through to every operational loan management team. Our investment team, together with our local teams and partners, are experienced and highly skilled at adapting to changing circumstances. We are working tirelessly to become the leading investor and manager of non-performing loans in Europe. With that, I would once again like to thank all of you who have invested in our company, both on the equity and on the debt side, for your trust. Kind regards, Harry Vranjes Statement by the CEO
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Hoist Finance Delårsrapport januari – mars 20254 Developments 20264 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Developments during the quarter, Group Comparative figures for developments during third quarter 2026 pertain to third quarter 2025 Operating income Operating income totalled SEK 1,403m (1,051), an increase of 33 per cent. Operating income as well as operating expenses has increased during the third quarter primarily because of the acquisition of the UK debt purchaser Azzurro Associates. The acquisition took place in June 2026, and Azzurro Associates had then a portfolio value of approximately 200 million pounds (GBP). Interest income from acquired loan portfolios totalled SEK 1,542m (1,238) and interest expense amounted to SEK –537m (–492), with the increase attributable mainly to a growing portfolio book and higher deposit volumes. Income from interest-bearing securities at fair value, which pertain to Hoist Finance’s share of co-investments recognised as SPV notes, totalled SEK 68m (47). Interest income from interest-bearing securities at fair value through other comprehensive income, which was positively impacted by the return from the expand- ing liquidity reserve, totalled SEK 147m (124). Other interest income totalled SEK 24m (20). Net interest income totalled SEK 1 244m (937). The collection rate was 103 per cent for the quarter and collections against projections totalled SEK 264m (208). Portfolio revaluations conducted during the period amounted to SEK –162m (–134), of which timing effects1) of SEK –176m (–130) are mainly due to collections received earlier than expected, which can fluctuate between periods. Net result from financial transactions totalled SEK 11m (0), of which SEK 20m (0) is attrib- utable to changes in value of interest-bearing securities at fair value, which pertain to SPV notes. Other operating in come totalled SEK 18m (36). Operating expenses Operating expenses totalled SEK –895m (–702), an increase primarily driven by the acquisi- tion of Azzurro Associates. The increase is primarily related to personnel expenses and col- lection costs. Portfolio acquisitions during the period affected interest income from acquired loan portfolios, as well as collection costs which totalled SEK –467m (–320). Other adminis- trative expenses were unchanged during the quarter and amounted to SEK –134m (–134). Net profit for the quarter Net profit from participations in joint ventures totalled SEK –4m (0), and is attributable to the disposal of the holdings in PQH Single Special Liquidation S.A. Income tax expense for the period totalled SEK –119m (–65), with an effective tax rate of 23.7 per cent (18.7). Net profit for the quarter totalled SEK 384m (284). Return on shareholders’ equity was 21.2 per cent (17 ,6). 1) For further explanations, see definitions at the end of this report. Developments 2026 Breakdown, total carrying amount of Investment portfolio Breakdown, secured/unsecured Investment portfolio 1) Other countries are the Netherlands, Belgium, Cyprus, Portugal and Finland /uni0049/uni0074/uni0061/uni006C/uni0079/uni0055/uni006E/uni0069/uni0074/uni0065/uni0064/uni0020 /uni004B/uni0069/uni006E/uni0067/uni0064/uni006F/uni006D/uni0053/uni0070/uni0061/uni0069/uni006E /uni0047/uni0072/uni0065/uni0065/uni0063/uni0065 /uni0050/uni006F/uni006C/uni0061/uni006E/uni0064/uni0046/uni0072/uni0061/uni006E/uni0063/uni0065/uni0047/uni0065/uni0072/uni006D/uni0061/uni006E/uni0079 /uni0053/uni0077/uni0065/uni0064/uni0065/uni006E/uni004F/uni0074/uni0068/uni0065/uni0072/uni0031/uni0029.case /uni0031/uni0030/uni0025 /uni0031/uni0035/uni0025 /uni0031/uni0034/uni0025 /uni0031/uni0035/uni0025 /uni0031/uni0035/uni0025/uni0031/uni0034/uni0025 /uni0037/uni0025 /uni0034/uni0025 /uni0037/uni0025 /uni0053/uni0065/uni0063/uni0075/uni0072/uni0065/uni0064/uni0055/uni006E/uni0073/uni0065/uni0063/uni0075/uni0072/uni0065/uni0064 /uni0033/uni0030/uni0025/uni0037/uni0030/uni0025
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Hoist Finance Delårsrapport januari – mars 20255 Developments 20265 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 SEK m Quarter 3 2026 Quarter 3 2025 Interest income acquired loan portfolios 1,542 1,238 Interest income co-investment 68 47 Interest income on interest-bearing securities measured at fair value over OCI 147 124 Other interest income 24 20 Interest expense −537 −492 Net interest income 1,244 937 Impairment gains and losses 102 74 of which, realised collections against active forecast 264 208 of which, portfolio revaluations −162 −134 Credit losses −4 1 Fee and commission income 31 3 Net result from financial transactions 11 0 Other operating income1) 18 36 Total operating income 1,403 1,051 Personnel expenses −281 −224 Collection costs −467 −320 Other administrative expenses −134 −134 Depreciation and amortisation −13 −24 Total operating expenses −895 −702 Share of profit from joint ventures −4 0 Profit before tax 503 349 Income tax expense −119 −65 Net profit for the quarter 384 284 1) This item does not correspond to an item of the same designation in the income statement, but to several corresponding items Return on equity,% Profit/loss after tax, SEK m Utveckling 2024 Developments 2026 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0032 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0031 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0034 /uni0032/uni0030/uni0032/uni0035 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0035 /uni0031 /uni0037/uni002E /uni0036 /uni0032/uni0031/uni002E/uni0038 /uni0031/uni0039/uni002E/uni0035 /uni0032 /uni0037/uni002E /uni0035 /uni0032/uni0031/uni002E/uni0032 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0032 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0031 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0034 /uni0032/uni0030/uni0032/uni0035 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0035 /uni0032/uni0038/uni0034 /uni0033/uni0036/uni0031 /uni0033/uni0033/uni0037 /uni0033/uni0038/uni0034 /uni0034/uni0037/uni0034 Developments during the quarter, Group Comparative figures for developments during third quarter 2026 pertain to third quarter 2025
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Hoist Finance Delårsrapport januari – mars 20256 Developments 20266 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Operating income Operating income totalled SEK 4,015m (3,125), an increase of 28 per cent. Operating income as well as operating expenses increased during the period primarily due to the acquisition of the UK debt purchaser Azzurro Associates. The acquisition took place in June 2026, and Azzurro Associates had then a portfolio value of approximately 200 million pounds (GBP). Interest income from acquired loan portfolios increased by 16 per cent and totalled SEK 4,221m (3,633). Interest expense amounted to SEK –1,553m (–1,439), with the increase attributable mainly to a growing portfolio book and higher deposit volume. Income from inter- est-bearing securities at fair value, which pertain to Hoist Finance’s share of co-investments recognised as SPV notes, totalled SEK 202m (116). Interest income from interest-bearing securities at fair value through other comprehensive income, totalled SEK 397 (386). Other interest income totalled SEK 67m (46). Net interest income totalled SEK 3,335m (2,742). The collection rate was 106 per cent for the period and collections against projections totalled SEK 933m (580). Portfolio revaluations conducted during the period amounted to SEK –518m (–327), of which timing effects1) of SEK –478m (–332) are mainly due to collec- tions received earlier than expected, which can fluctuate between periods. Net result from financial transactions totalled SEK 40m (23), of which SEK 47m (5) is attrib- utable to changes in value of interest-bearing securities at fair value, which pertain to SPV notes. Other operating income totalled SEK 228m (99). The change is mainly attributable to the re- payment of SEK 163m from the Tax Authorities following a decision from the Tax Authorities related the right to deduct VAT. Operating expenses Operating expenses totalled SEK –2,481m (–2,133), an increase primarily driven by the acquisition of Azzurro Associates. The increase is primarily related to personnel expenses and higher collection costs. Portfolio acquisitions during the period affected interest income from acquired loan portfolios, as well as collection costs which totalled SEK –1,215m (–958). Other administrative expenses increased during the quarter to SEK –465m (439), an increase mainly attributable to the transaction costs related to the acquisition of Azzurro Associates (SEK 58m). Net profit for the period profit from participations in joint ventures totalled SEK –5m (0) ), and is attributable to the disposal of the holdings in PQH Single Special Liquidation S.A. Income tax expense for the period totalled SEK –334m (–214), with an effective tax rate of 21.8 per cent (21.6). Net profit for the quarter totalled SEK 1,195m (778). Return on shareholders’ equity was 22.6 per cent (16.2). 1) For further explanations, see definitions at the end of this report. Developments during January – September, Group Comparative figures for developments during January - September 2026 pertain to January - September 2025 Developments 2026 Breakdown, total carrying amount of Investment portfolio Breakdown, secured/unsecured Investment portfolio 1) Other countries are the Netherlands, Belgium, Cyprus, Portugal and Finland /uni0049/uni0074/uni0061/uni006C/uni0079/uni0055/uni006E/uni0069/uni0074/uni0065/uni0064/uni0020 /uni004B/uni0069/uni006E/uni0067/uni0064/uni006F/uni006D/uni0053/uni0070/uni0061/uni0069/uni006E /uni0047/uni0072/uni0065/uni0065/uni0063/uni0065 /uni0050/uni006F/uni006C/uni0061/uni006E/uni0064/uni0046/uni0072/uni0061/uni006E/uni0063/uni0065/uni0047/uni0065/uni0072/uni006D/uni0061/uni006E/uni0079 /uni0053/uni0077/uni0065/uni0064/uni0065/uni006E/uni004F/uni0074/uni0068/uni0065/uni0072/uni0031/uni0029.case /uni0031/uni0030/uni0025 /uni0031/uni0035/uni0025 /uni0031/uni0034/uni0025 /uni0031/uni0035/uni0025 /uni0031/uni0035/uni0025/uni0031/uni0034/uni0025 /uni0037/uni0025 /uni0034/uni0025 /uni0037/uni0025 /uni0053/uni0065/uni0063/uni0075/uni0072/uni0065/uni0064/uni0055/uni006E/uni0073/uni0065/uni0063/uni0075/uni0072/uni0065/uni0064 /uni0033/uni0030/uni0025/uni0037/uni0030/uni0025
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Hoist Finance Delårsrapport januari – mars 20257 Developments 20267 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Developments during January – September, Group Comparative figures for developments during January – September 2026 pertain to January – September 2025 SEK m Jan-Sep 2026 Jan-Sep 2025 Interest income acquired loan portfolios 4,221 3,633 Interest income co-investment 202 116 Interest income on interest-bearing securities measured at fair value over OCI 397 386 Other interest income 67 46 Interest expense −1,553 −1,439 Net interest income 3,335 2,742 Impairment gains and losses 415 253 of which, realised collections against active forecast 933 580 of which, portfolio revaluations −518 −327 Credit losses −47 −6 Fee and commission income 44 14 Net result from financial transactions 40 23 Other operating income1) 228 99 Total operating income 4,015 3,125 Personnel expenses −760 −676 Collection costs −1,215 −958 Other administrative expenses −465 −439 Depreciation and amortisation −41 −60 Total operating expenses −2,481 −2,133 Share of profit from joint ventures −5 0 Profit before tax 1,529 992 Income tax expense −334 −214 Net profit for the period 1,195 778 1) This item does not correspond to an item of the same designation in the income statement, but to several corresponding items /uni004A/uni0061/uni006E/uni002D/uni004A/uni0075/uni006E /uni0032/uni0030/uni0032/uni0036 /uni004A/uni0061/uni006E/uni002D/uni004A/uni0075/uni006E /uni0032/uni0030/uni0032/uni0035 /uni0032/uni0032/uni002E/uni0036 /uni0031/uni0036/uni002E/uni0032 /uni004A/uni0061/uni006E/uni002D/uni0053/uni0065/uni0070 /uni0032/uni0030/uni0032/uni0036 /uni004A/uni0061/uni006E/uni002D/uni0053/uni0065/uni0070 /uni0032/uni0030/uni0032/uni0035 /uni0031/uni002C/uni0031/uni0039/uni0035 /uni0037/uni0037/uni0038 Return on equity,% Profit/loss after tax, SEK m Developments 2026
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Hoist Finance Delårsrapport januari – mars 20258 Developments 20268 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Other information Balance Sheet Comparative figures for the balance sheet pertain to 31 December 2025 The balances include the effects of the acquisition of Azzurro Associ- ates recognised as of 30 June 2026. For further information, see Note 11. Total assets, increased from 31 December 2025, totalled SEK 70,288m (63,216). Cash and cash equivalents and interest bearing securities and portfolio carrying increased by SEK 158m to SEK 27 ,027m (26,869), where pledgeable municipal debt securities increased by SEK 15m to SEK 16,173m (16,158). Co-investments increased by SEK 189m to SEK 2,192m (2,003). Loan portfolio book value increased by SEK 6,427m to SEK 37 ,780m (31,353) as of September 30. Other assets have increased by SEK 700m. SEK m 30 Sep 2026 31 Dec 2025 Change % Cash and interest-bearing securities 27 ,027 26,869 1 Co-investments 2,192 2,003 9 Portfolio book value 37 ,780 31,353 21 Value change of interest-hedged items in portfolio hedging −148 254 n.m. Other assets1 3,437 2,737 26 Total assets 70,288 63,216 11 Deposits from the public 48,806 42,756 14 Debt securities issued 7 ,294 7 ,046 4 Subordinated debt 3,209 2,878 11 Total interest-bearing liabilities 59,309 52,680 13 Other liabilities1 2,976 3,448 −14 Equity 8,003 7 ,088 13 Total liabilities and equity 70,288 63,216 11 1) This item does not correspond to an item of the same designation in the balance sheet, but to several corresponding items. In Sweden, deposits from the public amounted to SEK 17 ,101m (17 ,028), of which all is attributable to fixed term deposits of three month to three year duration. Deposits from the public in Germany, the Nether- lands, Ireland, Austria and Spain totalled SEK 30,735m (23,698), of which all is attributable to fixed term deposits of three months to five- year duration. Deposits from the public in Poland totalled SEK 970m (2,030), of which all is attributable to fixed term deposits up to one year. SEK m 30 Sep 2026 31 Dec 2025 Change % Deposits from the public 48,806 42,756 14 Sweden (SEK) 17 ,101 17 ,028 0 Germany, The Netherlands, Ireland, Austria and Spain (EUR) 30,735 23,698 30 Poland (PLN) 970 2,030 −52 Total interest-bearing debt increased by SEK 6,629m and amounted to SEK 59,309m (52,680) as of September 30. The outstanding bond debt totalled SEK 10,503m (9,924), of which SEK 7 ,294m (7 ,046) was com- prised of senior unsecured liabilities. Other liabilities have decreased by SEK 472m. Equity totalled SEK 8,003m (7 ,088). Cash flow Comparative figures for the cash flow pertain to the period January – September 2025 SEK m Jan-Sep 2026 Jan-Sep 2025 Change, % Cash flow from operating activities 4,197 4,469 −6 Cash flow from investing activities −10,987 −4,114 >100 Cash flow from financing activities 4,720 2,839 66 Cash flow for the period −2,070 3,194 n.m. Cash flow from operating activities totalled SEK 4,197m, as compared with SEK 4,469m during the 2025 comparative period. Amortisation of acquired loan portfolios totalled SEK 4,680m (3,817). Changes in other assets and liabilities amounted to SEK −1,881m (232). Cash flow from investing activities totalled SEK –10,987m (−4,114), with portfolio acquisition activity totalling SEK –6,747m (–5,001). During the period, investments in the liquidity reserve totalled SEK –4,607m (–2,647) and divestments corresponded to SEK 2,786m (3,406). The acquisition of Azzurro Associates, including the related loan portfolios, had a negative impact on cash flow of SEK –2,524m. For further infor- mation, see Note 11. Cash flow from financing activities totalled SEK 4,720m (2,839). Net inflow from deposits from the public totalled SEK 4,451m (1,268). During the period, the inflow of debt securities issued amounted to SEK 661m (2,737) and re-purchases amounted to SEK –133m (–613). In addition, a new AT1 instrument of SEK 300m was issued (200). Cash flow related to dividends paid to shareholders amounted to SEK −525m (−175). During the third quarter, a share issue amounting to SEK 69 million was completed ( −). Total cash flow for the period amounted to SEK –2,070m, as compared with SEK 3,194m for the 2025 comparative period. Capital adequacy Comparative figures for capital adequacy pertain to 31 December 2025 At the close of the quarter the CET1 ratio was 12.88 per cent (10.80) for the Hoist Finance consolidated situation. The CET1 capital amounted to SEK 5,949m (4,150) and the risk- weighted exposure amount has increased to SEK 46,204m (38,443) since the turn of the year. The positive change in the CET1 ratio since the turn of the year was mainly due to Hoist Finance qualifying as an SDR on 4 February 2026, which resulted in the release of capital deductions related to the NPL backstop, contributing 2.79 percentage points to the ratio. The Group’s positive result for the period and repayments on existing loan portfolios contributed increases of 3.12 percentage points and 1.06 percentage points, respectively. On the other hand, new portfolio acquisitions during the period reduced the ratio by 2.83 percentage points, while regulatory deductions for foreseeable dividends reduced the ratio by 0.94 percentage points. Total capital amounts to SEK 8,646m (6,219) and the total capital ratio is 18.71 per cent (16.18). The Parent Company’s CET1 ratio was 12.11 per cent (9.82). Utveckling 2023Utveckling 2024 Developments 2026
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Hoist Finance Delårsrapport januari – mars 20259 Developments 20269 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 All capital ratios are above the applicable regulatory requirements. A deduction for foreseeable future dividend of 30 per cent has been made from the Group’s results, weighted for three quarters of 2026. Parent Company Comparative figures for the parent company pertain to third quarter 2025 The parent company’s net interest income for the third quarter amounted to 1,121 MSEK (431), of which 542 MSEK reflects the effect of an up- dated assessment of future cash flows in the Italian SPVs. During the quarter, there was a significant inflow into the deposit platforms, pri- marily in the German market, which resulted in higher interest expense compared with the same period last year. The Parent Company received dividends totalling SEK 247m (231) during the quarter from subsidiaries in Spain, Romania, Poland, and one of the Polish funds (Hoist I). Net result from financial transactions amounted to SEK 96 million (–38), which is primarily driven by changes in the market value of derivatives (interest rate swaps) that constitute an economic hedge against interest rate risk, but for which hedge ac- counting is not applied. Furthermore, the result is attributable to FX for- ward points related to currency forward contracts, which serve both as an economic hedge against currency risk and as hedging instruments in hedging relationships. Other operating income amounted to SEK 54 million (42) and primarily relates to Group-wide services. Operating expenses, which amounted to SEK –429m (–414), are mainly attributable to costs related to loan portfolios, to personnel expenses and to costs for group-wide services. Profit before credit losses totalled SEK 1,087m (261). Impairment gains totalled SEK 22m (–9) during the quarter, attributable mainly to portfolio revaluations and a higher-than-expected repayment rate on loan portfolios. During the period, an impairment charge of –3 MSEK (–) was recognized on shares in subsidiaries. Earnings before tax totalled SEK 1,104m (249) and tax expense for the quarter amounted to SEK –212m (–54). Net profit for the Parent Company totalled SEK 892m (195). Risks and uncertainties At the start of the third quarter, there were expectations that oil ship- ments through the Strait of Hormuz would return to normal. The price of Brent crude temporarily fell below USD 80 per barrel and government bond yields declined. This optimism was largely due to a memorandum of understanding between the US and Iran to keep the Strait open, but this soon gave way to continued uncertainty and energy prices rose sharply once again. In September, Brent crude was trading at around USD 100 per barrel, with oil shipments still blocked. Higher energy prices led to increased input costs and contributed to rising consumer prices, which together resulted in increased inflation- ary pressure. The ECB raised its key interest rate during the quarter and has signalled one more rates increase before year end. Long-term interest rates in the EU, the UK and the US have risen, in light of both higher key interest rates and growing concerns about strained public finances in several countries. In Sweden, however, infla- tionary pressure remained relatively low during the quarter, although it has increased. Towards the end of the quarter, the Riksbank adjusted its interest rate path and is now signalling an expected rise before the end of the year. The krona (SEK) weakened against the EUR during the quarter. This is due to increased uncertainty and the widening interest rate differential with the euro area. The krona (SEK) also weakened against the USD during the quarter. Despite global uncertainty, Hoist Finance believes that conditions for the acquisition of non-performing loan portfolios are likely to remain favourable in the coming quarters. Higher interest rates may lead to a greater supply of non-performing loan portfolios on the market, whilst collections on existing loans in the Group’s portfolios may be adversely affected. Development of risk Hoist Finance’s overall risk profile was stable during the quarter. Various types of risk arise in the business, mainly credit risks, but also market risks, liquidity risks and operational risks. Credit risk for loan portfolios is actively managed and monitored through a centralised risk management framework and an established investment strategy. The investment strategy is based on acquiring portfolios of granular and well-diversified exposures, distributed across national markets, asset classes and time. Credit risk, measured as real- ized collections against forecast, remains low at the consolidated level, with aggregate collections exceeding the target for the period. A few markets continue to show above-average credit risk and are subject to enhanced monitoring by central functions. Credit risk for bond holdings in the liquidity reserve is assessed to re- main low. To limit credit risk, investments are made only in government, municipal and covered bonds of high credit quality. Hoist Finance continuously hedges interest rate and FX risks in the short and medium term to keep market risks at a low level. Hoist Finance is exposed to currency risk through its acquisition of loan portfolios, mainly in EUR, PLN and GBP, while funding is primarily denominated in SEK and EUR and the reporting currency is SEK. To limit currency exposure, efforts are made to achieve a natural currency match between assets and liabilities. Currency risk is also managed through ongoing hedging using foreign exchange derivatives. Interest rate risks are similarly managed through systematic monitoring and are hedged on an active basis with interest derivatives. Liquidity risk is deemed to be low, with a liquidity reserve above regu- latory requirements and good access to favorable borrowing rates via HoistSpar. The framework for managing operational risks is improved on an ongo- ing basis and these risks are still deemed to be low. Related-party transactions During August 2026, the number of shares and votes in Hoist Finance AB (publ) increased as a result of the private placement carried out under the share investment program that the Annual General Meeting on May 7 , 2026, resolved to establish. A total of 429,714 shares were subscribed for and allocated in the new share issue. The full terms and conditions of the program are available on the company’s website. Utveckling 2024 Developments 2026
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Hoist Finance Delårsrapport januari – mars 202510 Developments 202610 Developments 2026 Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Group Structure Hoist Finance AB (publ), corporate identity number 556012-8489, is the parent company in the Hoist Finance Group. Hoist Finance is a Swedish publicly traded limited liability company, headquartered in Stockholm, Sweden. Hoist Finance AB (publ) has been listed on NASDAQ Stockholm since March 2015. Hoist Finance AB (publ) is a credit market company under the super- vision of the Swedish FSA. The operating Parent Company, including its subgroup, acquires, holds and manages the Group’s loan port- folios. The Group’s subsidiaries and foreign branch offices also provide commission-based administration services to third parties and services within the Hoist Finance Group. Other disclosures Transfer pricing cases During the fourth quarter of 2025, a tax audit in Germany concerning transfer pricing (the allocation of profits between countries, in this case Sweden and Germany) for the years 2017–2021 was concluded. The tax audit was completed without any findings or adjustments. The next step is to resolve the double taxation arising from differing views held by the relevant tax authorities regarding the appropriate allocation of profits. The parent company has recognised a provision for an un- certain tax position to reflect this exposure. Furthermore, the allocation of profit between Hoist Finance’s Polish and Swedish entities is subject to dispute for certain historical periods. The parent company has recognised a provision for uncertain tax positions for some of those years. On 11 February 2026, the Administrative Court of Appeal in Stockholm issued its judgment for the years 2016–2017 , ruling in favour of Hoist Finance, as a result of which the provision for 2016–2017 of SEK 43 million was reversed in the first quarter. For some subsequent years however it is currently uncertain whether the Swedish Tax Agency and Hoist Finance will reach a common view or whether the dispute will need to be resolved by a court. The total closing provision amounts to SEK 90 million. Business combination On 26 June 2026, Hoist Finance completed the acquisition of the UK debt investor Azzurro Associates, with a book value of approximately SEK 2.6 billion. The transaction was announced on 10 February 2026 and was completed following receipt of the required regulatory approv- als and satisfaction of customary closing conditions. The acquisition included 100% of the shares in the UK company Azzurro Associates Ltd, including its wholly owned subsidiaries Solaris Law Ltd and Solaris Law (Commercial) Ltd. In addition, 100% of the shares in the Dutch company Next Finance BV were acquired, along with a separate NPL portfolio from Azzurro Investments S.à r.l. in Luxembourg. The separate NPL portfolio was acquired by the subsidiary Hoist Finance S.à r.l. in Luxembourg. The acquired companies and the separate NPL portfolio were consol- idated into the Group as of the second quarter of 2026. For further information, please refer to Note 11. Ongoing dispute Hoist Finance has been informed about an ongoing dispute in one of its markets. Hoist Finance is not a party in the legal proceedings, but it cannot be entirely ruled out that the plaintiff may, in case of a favour- able outcome for it in the ongoing proceedings, broaden its scope and file a claim against Hoist Finance. The risk of this happening, and if so, the size of such a potential claim, remains uncertain. The situation is monitored together with external counsel. Subsequent events No significant events have occurred since the end of the reporting period. Review This interim report has not been reviewed by the Company’s auditors. Utveckling 2024 Developments 2026
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Hoist Finance Delårsrapport januari – mars 202511 Quarterly Review11 Quarterly Review Statement by the CEO Developments 2026 Quarterly review AssuranceFinancial statements DefinitionsNotes About Hoist Finance Hoist Finance ▪ Interim report January – September 2026 Quarterly Review SEK m Quarter 3 2026 Quarter 2 2026 Quarter 1 2026 Quarter 4 2025 Quarter 3 2025 Net interest income 1,244 1,093 998 953 937 Total operating income 1,403 1,444 1,168 1,280 1,051 Total operating expenses −895 −812 −774 −793 −702 Net operating profit/loss 508 633 394 487 349 Profit/loss before tax 503 632 394 492 349 Net profit/loss 384 474 337 361 284 SEK m Quarter 3 2026 Quarter 2 2026 Quarter 1 2026 Quarter 4 2025 Quarter 3 2025 Cash EBITDA2) 2,243 2,516 1,889 2,037 1,924 C/I ratio, % 64 56 66 62 67 Return on equity, % 21.2 2 7. 5 19.5 21.8 1 7. 6 Investment portfolio acquisitions 1,585 6,056 2,036 3,986 2,355 Basic earnings per share, SEK 4.05 5.15 3.57 3.84 3.00 Diluted earnings per share, SEK 4.05 5.15 3.57 3.84 3.00 SEK m Quarter 3 2026 Quarter 2 2026 Quarter 1 2026 Quarter 4 2025 Quarter 3 2025 Gross 180-month ERC 67 ,836 66,864 58,659 56,571 52,258 of which co-investments 4,288 4,391 4,166 3,941 3,100 Collection performance % 103 108 105 108 103 Investment portfolio value 39,973 39,208 34,402 33,356 31,565 Total capital ratio, % 1 8 . 7 1 18.44 19.12 16.18 18.12 CET1 ratio, % 12.88 13.03 13.86 10.80 12.21 Number of employees (FTEs) 1,252 1,237 1,035 1,025 1,009 1) For further explanations, see definitions at the end of this report. 2) The calculation for cash EBITDA has been corrected in the second quarter of 2025, and the definition clarified (see page 38). The key ratio has been recalculated for previous quarters; see also the financial factbook. For details on items affecting comparability for previous quarters, please refer to the Financial Fact Book: hoistfinance.com/Investors/reports-and-presentations2/ Cash EBITDA, SEK m Investment portfolio acquisitions, SEK m Quarterly review Condensed income statement Key ratios1) /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0032 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0031 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0034 /uni0032/uni0030/uni0032/uni0035 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0035 /uni0031/uni002C/uni0039/uni0032/uni0034 /uni0032/uni002C/uni0030/uni0033/uni0037 /uni0031/uni002C/uni0038/uni0038/uni0039 /uni0032/uni002C/uni0035/uni0031/uni0036 /uni0032/uni002C/uni0032/uni0034/uni0033 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0032 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0031 /uni0032/uni0030/uni0032/uni0036 /uni0051/uni0034 /uni0032/uni0030/uni0032/uni0035 /uni0051/uni0033 /uni0032/uni0030/uni0032/uni0035 /uni0032/uni002C/uni0033/uni0035/uni0035 /uni0033/uni002C/uni0039/uni0038/uni0036 /uni0032/uni002C/uni0030/uni0033/uni0036 /uni0031/uni002C/uni0035/uni0038/uni0035 /uni0036/uni002C/uni0030/uni0035/uni0036
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Hoist Finance ▪ Interim report January – September 202612 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements Financial statements SEK m Note Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Interest income acquired loan portfolios calculated using the effective interest rate method 1,542 1,238 4,221 3,633 4,896 Interest income interest-bearing securities, co-investment, measured at fair value 68 47 202 116 172 Interest income on interest-bearing securities measured at fair value over OCI calculated using the effective interest rate method 147 124 397 386 498 Other interest income1) 24 20 67 46 67 Interest expense –537 –492 −1,553 –1,439 –1,938 Net interest income 1,244 937 3,335 2,742 3,695 Impairment gains & losses, NPL 4 102 74 415 253 502 Credit losses 4 −4 1 −47 –6 –6 Fee and commission income 31 3 44 14 18 Net result from financial transactions 11 0 40 23 2 Derecognition gains and losses 4 −3 23 6 65 129 Other operating income 21 13 222 34 65 Total operating income 3 1,403 1,051 4,015 3,125 4,405 Personnel expenses −281 −224 −760 −676 −919 Collection costs −467 −320 −1,215 −958 −1,295 Other administrative expenses −134 −134 −465 −439 −640 Depreciation and amortisation of tangible and intangible assets −13 −24 −41 −60 −72 Total operating expenses 3 −895 −702 −2,481 −2,133 −2,926 Net operating profit/loss 508 349 1,535 992 1,479 Share of profit from joint ventures 3 −4 0 −5 0 5 Profit/loss before tax 3 503 349 1,529 992 1,484 Income tax expense −119 −65 −334 −214 −345 Net profit/loss 384 284 1,195 778 1,139 Profit/loss attributable to: Owners of Hoist Finance AB (publ) 355 262 1,117 678 1,014 Additional Tier 1 capital holders 29 22 79 100 125 Other non-controlling interest 0 0 0 0 0 Basic earnings per share, SEK 4.05 3.00 12.76 7. 7 5 11.59 Diluted earnings per share, SEK 4.05 3.00 12.76 7. 7 5 11.59 Consolidated income statement 1) Of which interest income calculated using the effective interest method amount to SEK 23.6m (19.6) during the third quarter, SEK 67 .3m (45.6) during Jan-Sep and SEK 67 .4m during full-year 2025.
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Hoist Finance ▪ Interim report January – September 202613 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK m Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Net profit/loss for the period 384 284 1,195 778 1,139 OTHER COMPREHENSIVE INCOME Items that will not be reclassified to profit or loss Revaluation of defined benefit pension plan – – – – 1 Total items that will not be reclassified to profit or loss – – – – 1 Items that may be reclassified subsequently to profit or loss Currency translation difference Currency translation differences 74 −101 211 −322 −459 Tax on currency translation differences 2 – −12 – 3 Hedging of net investment in foreign operations Valuation gains/losses −123 56 −323 152 263 Tax on valuation gains/losses 25 −11 66 −31 −54 Transferred to the income statement – – – – 0 Tax on transfers to the income statement – – – – 0 Fair value through other comprehensive income Valuation gains/losses −25 8 22 71 70 Tax on valuation gains/losses 5 −2 −5 −14 −15 Transferred to the income statement 0 0 −20 −12 −20 Tax on transfers to the income statement 0 0 4 2 4 Total items that may be reclassified subsequently to profit or loss −42 −51 −56 −154 −209 Other comprehensive income for the period −42 −51 −56 −154 −208 Total comprehensive income for the period 342 233 1,140 624 931 Profit/loss attributable to: Owners of Hoist Finance AB (publ) 313 211 1,061 524 806 Additional Tier 1 capital holders 29 22 79 100 125 Other non-controlling interest 0 0 0 0 0 Condensed consolidated statement of comprehensive income
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Hoist Finance ▪ Interim report January – September 202614 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK m Not 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Cash 0 0 0 Treasury bills and Treasury bonds 5 16,173 11,902 16,158 Lending to credit institutions 5 3,461 5,108 5,318 Lending to public 234 – 293 Portfolio book value 3, 4 37 ,780 30,044 31,353 Value change of interest-hedged items in portfolio hedging –148 277 254 Interest-bearing securities, co-investment 5 2,192 1,521 2,003 Bonds and other securities 5 7 ,393 8,418 5,393 Shares and participations in joint ventures – 6 6 Shareholdings in other companies 115 74 59 Intangible assets 186 194 190 Tangible assets 108 96 104 Seized assets 242 189 203 Other assets 2,069 1,080 1,508 Deferred tax assets 72 42 12 Prepayments and accrued income 412 360 362 TOTAL ASSETS 70,288 59,311 63,216 LIABILITIES AND EQUITY Liabilities Deposits from the public 5 48,806 40,483 42,756 Debt securities issued 5 7 ,294 6,041 7 ,046 Tax liabilities 691 398 373 Other liabilities 1,160 1,713 1,989 Deferred tax liabilities 205 140 254 Accrued expenses and deferred income 786 731 709 Provisions 133 117 123 Subordinated debts 5, 9 3,209 2,882 2,878 Total liabilities 62,285 52,505 56,128 Equity Additional Tier 1 capital holders 1,189 891 891 Share capital 30 30 30 Other contributed equity 2,227 2,159 2,159 Reserves –687 –577 –632 Retained earnings including profit/loss for the period 5,244 4,303 4,640 Total equity 8,003 6,806 7 ,088 TOTAL LIABILITIES AND EQUITY 70,288 59,311 63,216 Consolidated balance sheet
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Hoist Finance ▪ Interim report January – September 202615 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements Equity attributable to shareholders of Hoist Finance AB (publ) Reserves SEK m Share capital Other contributed equity Revaluation reserve Hedge reserve Translation reserve Retained earnings including profit/loss for the period Total Additional Tier 1 capital holders Non con- trolling interest Total equity Opening balance 1 Jan 2026 30 2,159 10 −1,158 516 4,640 6,197 891 0 7 ,088 Comprehensive income for the period Profit/loss for the period 1,117 1,117 79 0 1,195 Other comprehensive income 1 −256 199 −56 −56 Total comprehensive income for the period – – 1 −256 199 1,117 1,061 79 0 1,140 Transactions reported directly in equity Issued Additional Tier 1 capital instrument – 300 300 Interest paid on Additional Tier 1 capital – −79 −79 Transaction cost Additional Tier 1 capital – −3 −3 New issuance of shares1) 0 69 69 69 Dividend −525 −525 −525 Tax effect on items reported directly in equity – 1 1 Other changes2) 11 11 11 Change in other non-controlling interests 0 – 0 0 Total transactions reported directly in equity 0 69 – – – −513 −444 219 0 −225 Closing balance 30 Sep 2026 30 2,227 12 −1,414 715 5,244 6,814 1,189 0 8,003 1) For more info, see Note 10. 1) Other changes relate to adjustments attributable to a previously concluded incentive program (2024) and accrual effects related to the purchase price allocation (PPA). The majority of the item relates to a correction of the opening balance following the business acquisition. Consolidated statement of changes in equity
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Hoist Finance ▪ Interim report January – September 202616 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements Equity attributable to shareholders of Hoist Finance AB (publ) Reserves SEK m Share capital Other contributed equity Revaluation reserve Hedge reserve Translation reserve Retained earnings including profit/loss for the period Total Additional Tier 1 capital holders Non con- trolling interest Total equity Opening balance 1 Jan 2025 30 2,160 −29 −1,367 973 3,829 5,596 1,109 0 6,705 Comprehensive income for the period Profit/loss for the period 678 678 100 0 778 Other comprehensive income 47 121 −322 −154 −154 Total comprehensive income for the period – – 47 121 −322 678 524 100 0 624 Transactions reported directly in equity Issued Additional Tier 1 capital instrument 1) − 200 200 Called Additional Tier 1 capital instrument 1) −23 −23 −423 −446 Interest paid on Additional Tier 1 capital − −100 −100 Transaction cost Tier 1 capital instrument −9 −9 7 −2 Cancellation of shares 2) −1 1 – – Bonus issue 3) 1 −1 0 0 Dividend −175 −175 −175 Tax effect on items reported directly in equity 2 2 −2 0 Change in other non-controlling interests − − Total transactions reported directly in equity – −1 – – – −204 −205 −318 – −523 Closing balance 30 Sep 2025 30 2,159 18 −1,246 651 4,303 5,915 891 0 6,806 1) Issued amount of SEK 200m. Called amount of EUR 40m with a FX-effect of SEK 23m. 2) Reduction of share capital by cancellation of shares, see Annual report 2025 for additional information. 3) Bonus issue without issuance of new shares, see Annual report 2025 for additional information. Consolidated statement of changes in equity, cont.
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Hoist Finance ▪ Interim report January – September 202617 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK 30,284,998.997 remained unchanged, as the Annual General Meet- ing simultaneously resolved on a bonus issue, without issuance of new shares, through a transfer from unrestricted shareholders’ equity to share capital, whereby the share capital was restored to the same level as before the reduction. Hoist Finance holding own shares Number of Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Opening balance – 3,432,391 3,432,391 Cancellation of shares – –3,432,391 -3,432,391 Closing balance – – – Equity attributable to shareholders of Hoist Finance AB (publ) Reserves SEK m Share capital Other contributed equity Revaluation reserve Hedge reserve Translation reserve Retained earnings including profit/loss for the period Total Additional Tier 1 capital holders Non con- trolling interest Total equity Opening balance 1 Jan 2025 30 2,160 −29 −1,367 973 3,829 5,596 1,109 0 6,705 Comprehensive income for the period Profit/loss for the period 1,014 1,014 125 0 1,139 Other comprehensive income 39 209 −457 1 −208 −208 Total comprehensive income for the period – – 39 209 −457 1,015 806 125 0 931 Transactions reported directly in equity Issued Additional Tier 1 capital instrument 1) 200 200 Called Additional Tier 1 capital instrument 1) −23 −23 −423 −446 Interest paid on Additional Tier 1 capital −125 −125 Transaction cost Tier 1 capital instrument −9 −9 7 −2 Cancellation of shares 2) −1 1 Bonus issue 3) 1 −1 0 0 Dividend −175 −175 −175 Tax effect on items reported directly in equity 2 2 −2 0 Change in other non-controlling interests 0 0 Total transactions reported directly in equity – −1 – – – −204 −205 −343 0 −548 Closing balance 31 Dec 2025 30 2,159 10 −1,158 516 4,640 6,197 891 0 7 ,088 1) Issued amount of SEK 200m. Called amount of EUR 40m with a FX-effect of SEK 23m. 2) Reduction of share capital by cancellation of shares, see Annual report 2025 for additional information. 3) Bonus issue without issuance of new shares, see Annual report 2025 for additional information. The Annual General Meeting 2025 resolved to reduce the share capital by redemption of 3,432,391 shares held in treasury by Hoist Finance after previously having been repurchased by the company under share repurchase programs. As a result, the number of shares and votes in the company decreased by 3,432,391 in 2025. The share capital of Consolidated statement of changes in equity, cont.
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Hoist Finance ▪ Interim report January – September 202618 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK m Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Profit/loss before tax 503 349 1,529 992 1,484 – of which, paid-in interest 1,718 1,360 4,681 4,132 5,550 – of which, interest paid −651 −617 −1,452 −1458 −2,064 Adjustment for other items not included in cash flow 456 −234 10 −476 −1,183 Income tax paid/received −69 −45 −140 −96 −123 Amortisations on acquired loan portfolios 1,541 1,411 4,680 3,817 5,332 Increase/decrease in other assets and liabilities −1,707 281 −1,881 232 411 Cash flow from operating activities 724 1,762 4,197 4,469 5,921 Acquired business operations −11 – −2,524 – – Acquired loan portfolios −1,559 −1,870 −6,747 −5,001 −8,378 Disposed loan portfolios – 88 89 143 324 Investments in bonds and other securities −868 −1,663 −4,607 −2,647 −4,517 Divestments of bonds and other securities 1,183 350 2,786 3,406 7 ,827 Lending to the public 24 – 80 – −296 Other cash flows from investing activities 56 −5 −64 −15 −26 Cash flow from investing activities −1,174 −3,100 −10,987 −4,114 −5,066 Deposits from the public −489 −241 4,451 1,268 4,206 Debt securities issued 300 – 661 2,737 3,999 Repurchase and repayment of Debt securities issued 0 −4 −133 −613 −858 Issuance Additional Tier 1 capital – 200 300 200 200 Repurchase Additional Tier 1 capital – – – −446 −446 Interest paid on Additional Tier 1 capital −29 −22 −79 −100 −125 New Share Issue 69 – 69 – – Dividend – – −525 −175 −175 Amortisation of lease liabilities −11 −10 −24 −32 −42 Cash flow from financing activities −160 −77 4,720 2,839 6,759 Cash flow for the period −610 −1,415 −2,070 3,194 7 ,614 Cash flow at beginning of the period 19,895 18,332 21,130 13,941 13,941 Translation difference 200 −84 425 −302 −425 Cash at end of the period1) 19,485 16,833 19,485 16,833 21,130 1) Cash and cash equivalents in cash flow statement SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Cash 0 0 0 Treasury bills and Treasury bonds 16,173 11,902 16,158 Lending to credit institutions 3,461 5,108 5,159 Excl. lending to credit institutions in securitisation vehicles −148 −177 −187 Total cash and cash equivalents in cash flow statement 19,485 16,833 21,130 Condensed consolidated cash flow statement
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Hoist Finance ▪ Interim report January – September 202619 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK m Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Interest income 1,653 916 4,115 2,652 3,609 Interest expense −532 −485 −1,538 −1,412 −1,903 Net interest income 1,121 431 2,578 1,240 1,706 Dividends received 247 231 697 586 1,010 Net result from financial transactions 96 −38 −328 −97 −164 Derecognition gains and losses −2 9 7 21 13 Other operating income 54 42 325 133 192 Total operating income 1,516 675 3,279 1,882 2,757 General administrative expenses −425 −408 −1,329 −1,216 −1,691 Depreciation and amortisation of tangible and intangible assets −4 −6 −11 −18 −23 Total operating expenses −429 −414 −1,341 −1,234 −1,714 Profit before credit losses 1,087 261 1,938 648 1,043 Impairment gains & losses, NPL 22 −9 137 −138 −306 Credit losses −2 −3 −46 −10 −8 Amortisation of other financial fixed assets −3 – −22 – −6 Share of profit from joint ventures 0 – 0 0 5 Operation profit/loss 1,104 249 2,008 501 727 Taxes −212 −54 −299 −121 −167 Net profit/loss 892 195 1,709 380 560 Parent Company SEK m Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Net profit/loss 892 195 1,709 380 560 Items that may be reclassified subsequently to profit or loss Translation difference, foreign operations 3 −1 8 −3 −4 Tax attributable to translation difference, foreign operations −2 – −5 – 2 Instruments measured at fair value through other comprehensive income −25 8 22 71 70 Tax attributable to items that may be reclassified to profit or loss 5 −2 −5 −14 −15 Transferred to the income statement 0 0 −20 −12 −20 Tax on transfers to the income statement 0 0 4 2 4 Total items that may be reclassified subsequently to profit or loss −18 5 4 44 37 Other comprehensive income for the period −18 5 4 44 37 Total comprehensive income for the period 873 200 1,714 424 597 Parent Company condensed income statement Parent company condensed statement of comprehensive income
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Hoist Finance ▪ Interim report January – September 202620 Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Financial statements SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Cash 0 0 0 Treasury bills and treasury bonds 16,173 11,902 16,158 Lending to credit institutions 2,395 3,939 4,190 Lending to the public 234 – 293 Portfolio book value 14,682 12,940 12,700 Value change of interest-hedged items in portfolio hedging −227 98 56 Receivables, Group companies 8,251 8,331 7 ,902 Bonds and other securities 16,646 11,813 10,882 Shares in subsidiaries and joint ventures 8,567 7, 74 4 7, 7 5 6 Tangible and intangible fixed assets 20 31 30 Other assets 2,016 937 1,412 TOTAL ASSETS 68,756 57 ,735 61,379 LIABILITIES AND EQUITY Liabilities Deposits from the public 48,806 40,483 42,756 Debt securities issued 7 ,156 5,916 6,919 Other liabilities 1,852 2,364 2,578 Provisions 108 88 98 Subordinated debts 3,209 2,882 2,878 Total liabilities and provisions 61,131 51,733 55,230 Equity Restricted equity 44 44 43 Total restricted equity 44 44 43 Non-restricted equity Additional Tier 1 capital holders 1,189 891 891 Non-restricted equity attributable to shareholders 6,394 5,067 5,215 Total unrestricted equity 7 ,582 5,958 6,106 Total equity 7 ,625 6,002 6,149 TOTAL LIABILITIES AND EQUITY 68,756 57 ,735 61,379 Parent Company condensed balance sheet
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21 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Accounting principles1 This interim report was prepared in accordance with IAS 34, Interim Financial Reporting, as adopted by the European Union. The accounting follows the Swedish Annual Accounts Act for Credit Institutions and Securities Companies (1995:1559) and the regulatory code issued by the Swedish Financial Supervisory Authority on Annual Reports in Credit Institutions and Securities Companies (FFFS 2008:25), including applicable amendments. The Swedish Financial Reporting Board’s RFR 1, Supplementary Accounting Rules for Groups, has also been applied. The Parent Company Hoist Finance AB (publ) prepares its interim reports in accordance with the Swedish Annual Accounts Act for Credit Institutions and Securities Companies (1995:1559) and the regulatory code issued by the Swedish Financial Supervisory Authority on Annual Reports in Credit Institutions and Securities Companies (FFFS 2008:25), including applicable amendments. The Swedish Financial Reporting Board’s RFR 2, Accounting for Legal Entities, has also been applied. Investments in subsidiaries are recognised in the Parent Company in accordance with the cost method. For further information on the ac- counting for business combinations, please refer to Note 11. Figures in this quarterly report are presented in Swedish kronor, with all amounts rounded off to the nearest million kronor (SEK m) unless oth- erwise specified. No adjustment is made for rounded figures; accord- ingly, casting errors may arise. New and amended accounting principles 2026 No new accounting standards that came into effect in 2026 had any significant impact on the Group’s financial reports or capital adequacy. In all material respects the Group’s and Parent Company’s accounting principles, bases for calculation and presentation remain unchanged from those applied in the 2025 Annual Report. The report includes a condensed set of financial statements and is to be read in conjunction with the audited annual report for the year ended 31 December 2025. Changes in IFRS Accounting Standards not yet applied IFRS 18 Presentation and Disclosure in Financial Statements In April 2024, the International Accounting Standards Board (IASB) pub- lished a new standard, IFRS 18 Presentation and Disclosure in Financial Statements, which will replace IAS 1. IFRS 18 sets out the requirements for the presentation and disclosure of financial performance in financial statements, focusing on a more structured income statement in which certain subtotals are defined and must be presented in a consistent manner. Income and expenses are to be divided into five categories based on the company’s main business activities. Three of these – Operating, Investing and Financing – are new, whilst Income Tax and Discontinued Operations are retained in their previous form. The aim is to ensure a more structured and comparable presentation of companies’ financial information enabling users to better understand the information and more easily compare companies. IFRS 18 also introduces enhanced requirements for the aggregation and disaggregation of financial information, in the primary financial statements and in the notes. This may also impact the presentation of the balance sheet. In addition, the standard introduces new disclosures in a single note on certain profit or loss measures outside the financial statements (management-defined performance measures). IFRS 18 and its amendments are effective as from 1 January 2027 and have been adopted by the EU. Work on implementing the new standard is underway, but it is still too early to ascertain the impact the standard may have on the financial statements. At present, however, no material impact on the financial statements is expected. As the standard only affects presentation – not accounting or valuation – it is not expected to have any other significant impact on accounting or capital adequacy upon initial application. Notes Hoist Finance ▪ Interim report January – September 2026
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Noter 22 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Segment reporting3 Operating segments Segment reporting has been prepared based on the manner in which in each geographical market, executive management monitors operations. The business lines’ income statements follow the statutory account preparation for the Group’s income statement for Total operating income, with the exception of interest expense. Interest expense is in- cluded in Net interest income in Total operating income and is allocated to the business lines based on acquired loan portfolio assets in relation to a fixed internal monthly interest rate for each portfolio. The differ- ence between the external interest expense and internal funding cost is reported in Group items. Total operating expenses also follow the statutory account preparation for the Group’s income statement but are distributed between direct and indirect expenses Group items pertains to revenue and indirect expenses from: • Platforms, which is the cost of the operations within the markets themselves. • Asset management, which is the cost of our team which actively seeks to both acquire and divest portfolios. • Central functions , income and expenses related to the Group’s corporate financial transactions, expenses for deposits from the public, and other operating income. With respect to the balance sheet, only portfolio book value is moni- tored. Other assets and liabilities are not monitored on a segment- by-segment basis. Income statement, Quarter 3, 2026 SEK m Unsecured Secured Group items Group Total operating income 911 351 140 1,403 of which, interest expense −299 −107 −131 −537 Operating expenses Direct expenses1) −488 −129 −12 −629 Indirect expenses1) − − −266 −266 Total operating expenses −488 −129 −278 −895 Share of profit from joint ventures −4 − − −4 Profit/loss before tax 419 222 −138 503 Key Ratios2) Investment portfolio value 25,858 11,922 2,192 39,973 Gross collections 2,089 906 − 2,994 1) Direct expenses are expenses directly attributable to the Business line. Indirect expenses are expenses related to support functions, including Platforms and Asset management, that are related to the business areas. 2) See definitions at the end of this report. Note Exchange rates2 Quarter 3 2026 Quarter 3 2025 Full-year 2025 1 EUR = SEK Income statement (average) 10.8915 11.0991 11.0628 Balance sheet (at end of the period) 11.3311 11.0564 10.8179 1 GBP = SEK Income statement (average) 12.6146 13.0548 12.9178 Balance sheet (at end of the period) 13.2584 12.6591 12.4173 Quarter 3 2026 Quarter 3 2025 Full-year 2025 1 PLN = SEK Income statement (average) 2.5510 2.618 2.6098 Balance sheet (at end of the period) 2.5935 2.5895 2.5597 1 RON = SEK Income statement (average) 2.1033 2.2085 2.1945 Balance sheet (at end of the period) 2.1465 2.1762 2.1225 Hoist Finance ▪ Interim report January – September 2026
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Noter 23 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Segment reporting, cont.3 Income statement, Jan-Sep, 2026 SEK m Unsecured Secured Group items Group Total operating income 2,490 1,052 473 4,015 of which, interest expense −786 −312 −455 −1,553 Operating expenses Direct expenses1) −1,252 −368 −41 −1,660 Indirect expenses1) − − −821 −821 Total operating expenses −1,252 −368 −862 −2,481 Share of profit from joint ventures −5 − − −5 Profit/loss before tax 1,234 684 −389 1,529 Key Ratios2) Investment portfolio value 25,858 11,922 2,192 39,973 Gross collections 5,852 2,767 − 8,618 1) Direct expenses are expenses directly attributable to the Business line. Indirect expenses are expenses related to support functions, including Platforms and Asset management, that are related to the business areas. 2) See definitions at the end of this report. Income statement, Quarter 3, 2025 SEK m Unsecured Secured Group items Group Total operating income 682 347 22 1,051 of which, interest expense −215 −99 −178 −492 Operating expenses Direct expenses1) −343 −108 − −451 Indirect expenses1) − − −251 −251 Total operating expenses −343 −108 −251 −702 Share of profit from joint ventures 0 − − 0 Profit/loss before tax 339 239 −229 349 Key Ratios2) Investment portfolio value 18,883 11,161 1,521 31,565 Gross collections 1,764 754 − 2,518 1) Direct expenses are expenses directly attributable to the Business line. Indirect expenses are expenses related to support functions, including Platforms and Asset management, that are related to the business areas. 2) See definitions at the end of this report. Hoist Finance ▪ Interim report January – September 2026
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24 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Income statement, Jan-Sep, 2025 SEK m Unsecured Secured Group items Group Total operating income 2,024 1,036 65 3,125 of which, interest expense −631 −268 −540 −1,439 Operating expenses Direct expenses1) −1,018 −328 − −1,346 Indirect expenses1) − − −787 −787 Total operating expenses −1,018 −328 −787 −2,133 Share of profit from joint ventures 0 − − 0 Profit/loss before tax 1,006 708 −722 992 Key Ratios2) Investment portfolio value 18,883 11,161 1,521 31,565 Gross collections 5,073 2,175 – 7 ,248 1) Direct expenses are expenses directly attributable to the Business line. Indirect expenses are expenses related to support functions, including Platforms and Asset management, that are related to the business areas. 2) See definitions at the end of this report. Income statement, Full year 2025 SEK m Unsecured Secured Group items Group Total operating income 2,847 1,468 90 4,405 of which, interest expense −858 −367 −713 −1,938 Operating expenses Direct expenses1) −1,429 −464 – −1,892 Indirect expenses1) – – −1,033 −1,033 Total operating expenses −1,429 −464 −1,033 −2,926 Share of profit from joint ventures 5 – – 5 Profit/loss before tax 1,423 1,004 −943 1,484 Key Ratios2) Investment portfolio value 20,279 11,074 2,003 33,356 Gross collections 6,752 3,158 – 9,909 1) Direct expenses are expenses directly attributable to the Business line. Indirect expenses are expenses related to support functions, including Platforms and Asset management, that are related to the business areas. 2) See definitions at the end of this report. Note Segment reporting, cont.3 Hoist Finance ▪ Interim report January – September 2026
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Noter 25 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Portfolio book value4 Net carrying amount Acquired credit-impaired loan portfolios SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Opening balance 1 January 30,209 29,246 29,246 Acquisitions1) 9,334 4,245 7 ,622 Interest income 4,127 3,559 4,795 Gross collections −8,618 −7 ,248 −9,909 Impairment gains and losses 415 253 502 of which, realised collections against active forecast 933 580 955 of which, portfolio revaluations −518 −327 −453 Disposals −89 −143 −324 Translation differences 1,475 −1,124 −1,723 Closing balance 36,852 28,788 30,209 Acquired performing loan portfolios SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Opening balance 1 January 1,144 674 674 Acquisitions - 756 756 Interest income 94 74 101 Amortisations and interest payments −282 −202 −318 Change in loss allowance −47 −6 −6 Derecognitions −4 0 0 Translation differences 22 −40 −63 Closing balance 928 1,256 1,144 Total closing balance 37 ,780 30,044 31,353 1) Of which SEK 2,587m pertains to acquisitions through business combinations. See Note 11 for further information The non-performing portfolios are acquired at a price significantly below the nominal receivable and are classified from day one as an acquired credit-impaired receivable. Accordingly, on day one the receivables are recognised at acquisition price with no additional ECL. Expected cash flow is continuously monitored pursuant to our revalua- tion policy and any new adjustments to cash flow that affect the value are booked against the accumulated reserve. The performing portfolios follow the ECL model in accordance with IFRS 9 for write-downs based on changes in credit risk following first recognition under the 3-step model. Note Financial instruments5 Carrying amount and fair value of financial instruments, 30 Sep 20261) SEK m Assets/liabilities recognised at fair value through other comprehensive income Assets/liabilities recognised at fair value through profit or loss Hedging instruments Amortised cost Total carrying amount Fair value Cash – – – 0 0 0 Treasury bills and treasury bonds 16,173 – – – 16,173 16,173 Lending to credit institutions – – – 3,461 3,461 3,461 Lending to the public – 234 – – 234 234 Portfolio book value – – – 37 ,780 37 ,780 37 ,882 Bonds and other securities2) 7 ,393 – – – 7 ,393 7 ,393 Co-investments – 2,192 – – 2,192 2,192 Derivatives – 28 354 – 382 382 Other financial assets – – – 1,314 1,314 1,314 Total 23,566 2,454 354 42,555 68,929 69,031 Deposits from the public – – - 48,806 48,806 48,813 Derivatives – 0 299 – 299 299 Debt securities issued – – – 7 ,294 7 ,294 7 ,331 Subordinated debt – – – 3,209 3,209 3,302 Other financial debts – – – 1,508 1,508 1,508 Total – 0 299 60,817 61,116 60,953 1) Derivatives recognised as hedging instruments is valued at fair value through income statement and other comprehensive income to the extent that the hedge is effective. Hoist Finance ▪ Interim report January – September 2026
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Carrying amount and fair value of financial instruments, 31 Dec 20251) SEK m Assets/liabilities recognised at fair value through other comprehensive income Assets/liabilities recognised at fair value through profit or loss Hedging instruments Amortised cost Total carrying amount Fair value Cash – – – 0 0 0 Treasury bills and treasury bonds 16,158 – – – 16,158 16,158 Lending to credit institutions – – – 5,318 5,318 5,318 Lending to the public – 293 – – 293 293 Portfolio book value – – – 31,353 31,353 30,459 Bonds and other securities 5,393 – – – 5,393 5,393 Co-investments - 2,003 – – 2,003 2,003 Derivatives – 225 41 – 266 266 Other financial assets – – – 1,083 1,083 1,083 Total 21,551 2,521 41 37 ,754 61,867 60,973 Deposits from the public – – – 42,756 42,756 42,563 Derivatives – 2 244 – 246 246 Debt securities issued – – – 7 ,046 7 ,046 7 ,232 Subordinated debt – – – 2,878 2,878 2,957 Other financial debts – – – 2,333 2,333 2,333 Total – 2 244 55,013 55,259 55,331 1) Derivatives recognised as hedging instruments is valued at fair value through income statement and other comprehensive income to the extent that the hedge is effective. 26 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Financial instruments, cont.5 Carrying amount and fair value of financial instruments, 30 Sep 20251) SEK m Assets/liabilities recognised at fair value through other comprehensive income Assets/liabilities recognised at fair value through profit or loss Hedging instruments Amortised cost Total carrying amount Fair value Cash – – – 0 0 0 Treasury bills and treasury bonds 11,902 - – – 11,902 11,902 Lending to credit institutions – – – 5,108 5,108 5,108 Lending to the public – – – – – – Portfolio book value – – – 30,044 30,044 29,106 Bonds and other securities 8,418 – – – 8,418 8,418 Co-investments – 1,521 – – 1,521 1,521 Derivatives – 8 36 – 44 44 Other financial assets – – – 949 949 949 Total 20,320 1,529 36 36,101 57 ,986 57 ,048 Deposits from the public – – – 40,483 40,483 39,664 Derivatives – 14 252 – 266 266 Debt securities issued – – – 6,041 6,041 6,121 Subordinated debt – – – 2,882 2,882 3,194 Other financial debts – – – 2,101 2,101 2,101 Total – 14 252 51,507 51,773 51,346 1) Derivatives recognised as hedging instruments is valued at fair value through income statement and other comprehensive income to the extent that the hedge is effective. Hoist Finance ▪ Interim report January – September 2026
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27 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Fair value measurement Group The Group uses observable data to the greatest possible extent when determining the fair value of an asset or liability. Fair values are categorised in different levels based on the input data used in the measurement approach, as per the following Level 1) Quoted prices (unadjusted) on active markets for identical instruments. Level 2) Based on directly or indirectly observable market inputs not included in Level 1. This category includes instruments valued based on quoted prices on active markets for similar instruments, quoted prices for identical or similar instruments traded on markets that are not active, or other valuation techniques in which all important input data is directly or indirectly observable in the market. Level 3) According to inputs that are not based on observable market data. This category includes all instruments for which the valuation technique is based on data that is not observable and has a substantial impact on the valuation. Fair value measurements, 31 Dec 2025 SEK m Level 1 Level 2 Level 3 Total Treasury bills and Treasury bonds 16,158 – – 16,158 Lending to the public – – 293 293 Bonds and other securities 5,393 – – 5,393 Co-investments – – 2,003 2,003 Derivatives – 266 – 266 Total assets 21,551 266 2,296 24,113 Derivatives – 246 – 246 Total liabilities – 246 – 246 Fair value measurements, 30 Sep 2026 SEK m Level 1 Level 2 Level 3 Total Treasury bills and Treasury bonds 16,173 – – 16,173 Lending to the public – – 234 234 Bonds and other securities 7 ,393 – – 7 ,393 Co-investments – – 2,192 2,192 Derivatives – 382 – 382 Total assets 23,566 382 2,426 26,374 Derivatives – 299 – 299 Total liabilities – 299 – 299 Note Financial instruments, cont.5 Fair value measurements, 30 Sep 2025 SEK m Level 1 Level 2 Level 3 Total Treasury bills and Treasury bonds 11,902 – – 11,902 Lending to the public – – – – Bonds and other securities 8,418 – – 8,418 Co-investments – – 1,521 1,521 Derivatives – 44 – 44 Total assets 20,320 44 1,521 21,885 Derivatives – 266 – 266 Total liabilities – 266 – 266 For portfolio book value, the valuation approach, key input data and valuation sensitivity to material changes are described in the Accounting Principles. Derivatives used for hedging were model valued using interest and currency market rates as input data. Treasury bills and treasury bonds, and bonds and other securities, are valued based on quoted rates. The fair value of liabilities in the form of issued bonds and other sub- ordinated debt was determined with reference to observable market prices quoted by external market players/places. In cases where more than one market price observation is available, fair value is determined at the arithmetic mean of the market prices. Since no observable market price is available for the junior notes their fair value has been calculated using the income approach. Carrying amounts for accounts receivable and accounts payable are deemed approximations of fair value. The fair value of current loans corresponds to their carrying amount due to the limited impact of discounting. Hoist Finance ▪ Interim report January – September 2026
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28 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Level 3 holdings consists of bonds and other securities plus Lending to the public. Fair value of level 3 holdings is calculated by discounting expected future cash flows using the market interest rate. A change in unobservable inputs is not deemed to lead to significantly higher or lower valuation of level 3 holdings and, accordingly, no sensi- tivity analysis is provided. Note Financial instruments, cont.5 Co-investments SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Opening balance 2 003 784 784 Acquisition 342 956 1 565 Disposals –329 –185 -232 Revaluation 41 2 6 of which, unrealised gains and losses 24 19 27 Translation difference and other 135 –36 –120 Closing balance 2 192 1 521 2 003 Lending to the public SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Opening balance 293 0 0 Lending 0 0 296 Re-payment −80 0 0 Revaluation 11 0 –3 of which, unrealised gains and losses 1 0 1 Translation difference and other 10 0 0 Closing balance 234 0 293 Hoist Finance ▪ Interim report January – September 2026
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Noter 29 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Capital adequacy6 The information in this Note includes information that is required to be disclosed pursuant to FFFS 2008:25, including applicable amendments, regarding annual reports for credit institutions and FFFS 2014:12, including applicable amendments, concerning supervisory requirements and capital buffers. The information refers to the Hoist Finance AB (publ) consolidated situation. The Company’s statutory capital requirements are determined primarily by Regulation (EU) No 575/2013 of the European Parliament and of the Council and the Capital Buffers Act (SFS 2014:966). The difference between the consolidated accounts and the consolidat- ed situation for capital adequacy purposes is as follows. Joint ventures are consolidated with the equity method in the consolidated accounts, whereas the proportional method is used for the consolidated situation. Securitised assets are recognised in the consolidated accounts but are removed from the accounting records for the consolidated situation. Hoist Finance’s participating interest in the securitised assets is always covered. Capital requirement The regulatory capital requirement in Pillar 1 means that total own funds must amount to at least 8 per cent of the risk-weighted exposure amount for credit risk, credit valuation adjustment risk, market risk, and opera- tional risk. After that, additional capital requirements are added for the risks that are not covered via Pillar 1, which include, for example, concen- tration risk, credit spread-, basis risk and interest rate risk in the banking book. The capital requirements for these risks are covered via Pillar 2. In addition to this, additional capital is allocated for a capital conservation buffer of 2.5 per cent of the risk-weighted exposure amount as well as an institution-specific countercyclical capital buffer that is weighted based on geographical exposures. As of 30 September 2026, Hoist Finance Group’s countercyclical buffer requirement was 1.12 per cent (0.88). Internal capital requirement, pillar 2 requirements and pillar 2 guidance On 27 February 2024 the Swedish FSA communicated the outcome of the Supervisory Review and Evaluation Process, SREP, for Hoist Finance. The Swedish FSA decided that Hoist Finance Group should be subject to a risk-based Pillar 2 requirement of 1.09 per cent and a risk-based Pillar 2 guidance of 0.5 per cent of the total risk exposure amount. Unlike the Pillar 2 requirement decided by the Swedish FSA, which is based on Hoist Finance’s risk exposure as of 30 September 2023, the internally assessed Pillar 2 requirement as per 30 September 2026 was SEK 685m (SEK 682m), which corresponds to 1.48 per cent (1.77) of the total risk exposure amount. Hoist Finance’s capital and risk manage- ment is always based on the higher of the Pillar 2 requirement and the internally assessed capital requirement. The capital requirement, which includes Pillar 1 requirements, Pillar 2 requirements, and internally assessed capital requirement in excess of pillar 2 requirements for the period, amounts to SEK 4,382m (SEK 3,758m per 31 December 2025). The total capital requirement including combined buffers amounts to SEK 6,054m (SEK 5,056). SEK m 30 Sep 2026 31 Dec 2025 Own funds Common Equity Tier 1 (CET1) capital before deduction of regulatory adjustments 6,235 5,579 Total deduction of regulatory adjustment to CET1 capital –286 –1,428 Common Equity Tier 1 (CET1) capital 5,949 4,150 Additional Tier 1 capital 1,189 891 Sum Tier 1 Capital 7 ,138 5,042 Tier 2 Capital 1,508 1,17 7 Total capital 8,646 6,219 Hoist Finance ▪ Interim report January – September 2026
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30 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Capital adequacy6 The Group's specification of risk exposure amount and capital requirement under Pillar 1 30 Sep 2026 31 Dec 2025 SEK m Risk exposure amount Capital requirement 8% Risk exposure amount Capital requirement 8% Specification of risk exposure amount Exposures to national governments and central banks – – – – Exposures to regional governments and local authorities – – – – Exposures to institutions 1,073 86 1,335 107 Exposures to corporates 3,232 259 3,660 293 Retail exposures 304 24 451 36 Exposures secured by mortgages on immovable property 110 9 122 10 Exposures in default 36,436 2,915 28,697 2,296 Exposures in the form of covered bonds 740 59 540 43 Equity exposures – – – – Other items 763 61 678 54 Total risk exposure amount for credit risk, standardised approach 42,657 3,413 35,482 2,839 Securitisation exposure 96 8 205 16 Market risk Foreign exchange rate risk – – 332 27 Total – – 332 27 Operational risk¹⁾ Standardised approach 3,067 245 2,135 171 Total 3,067 245 2,135 171 Credit valuation adjustment risk (CVA) Standardised approach 384 31 290 23 Total 384 31 290 23 Total risk exposure amount and total capital requirement 46,204 3,696 38,443 3,075 30 Sep 2026 31 Dec 2025 Capital ratios CET1 capital ratio (%) 12.88 10.80 Tier 1 capital ratio (%) 15.45 13.12 Total capital ratio (%) 18.71 16.18 1) The calculation of the operational risk exposure amount was updated during the second quarter of 2026 to align with the European Banking Authority (EBA) draft Regulatory Technical Standards (RTS) on operational risk losses. The calculation was further updated during the third quarter of 2026 to include the acquired entity Azzurro Associates in the calculation of operational risk at the consolidated level. Hoist Finance ▪ Interim report January – September 2026
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31 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Capital adequacy6 The Group's capital requirements and Pillar 2 guidance 30 Sep 2026 31 Dec 2025 SEK m Amount Per cent¹⁾ Amount Per cent¹⁾ Capital requirement under Pillar 1 CET1 capital 2,079 4.50% 1,730 4.50% Tier 1 capital 2,772 6.00% 2,307 6.00% Total capital 3,696 8.00% 3,075 8.00% Capital requirement under Pillar 2 CET1 capital 386 0.83% 384 1.00% Tier 1 capital 514 1.11% 512 1.33% Total capital 685 1.48% 682 1.77% – of which, concentration risk 271 0.59% 222 0.58% – of which, interest rate risk in the banking book (IRRBB) 187 0.40% 242 0.63% – of which, market risk 227 0.49% 214 0.56% – of which, other risks in Pillar 2 – – 4 0.01% Total capital requirement under Pillar 1 and Pillar 2 CET1 capital 2,465 5.33% 2,114 5.50% Tier 1 capital 3,286 7 .11% 2,818 7 .33% Total capital 4,382 9.48% 3,758 9.77% Institution-specific buffer requirement Total buffer requirement 1,672 3.62% 1,298 3.38% – of which, capital conservation buffer 1,155 2.50% 961 2.50% – of which, countercyclical buffer 517 1.12% 337 0.88% Total capital requirement including buffer requirement CET1 capital 4,137 8.95% 3,412 8.87% Tier 1 capital 4,958 10.73% 4,116 10.71% Total capital 6,054 13.10% 5,056 13.15% Pillar 2 Guidance CET1 capital 231 0.50% 192 0.50% Total need for capital including Pillar 2 Guidance CET1 capital 4,368 9.45% 3,604 9.37% Tier 1 capital 5,189 11.23% 4,309 11.21% Total capital 6,285 13.60% 5,248 13.65% 1) Capital requirements expressed as a percentage of the risk exposure amount. Hoist Finance ▪ Interim report January – September 2026
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32 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Capital adequacy6 SEK m Quarter 3 2026 Quarter 2 2026 Quarter 1 2026 Quarter 4 2025 Quarter 3 2025 Available own funds (amounts) 1 Common Equity Tier 1 (CET1) capital 5,949 5,819 5,511 4,150 4,280 2 Tier 1 capital 7 ,138 7 ,008 6,403 5,042 5,172 3 Total capital 8,646 8,237 7 ,605 6,219 6,353 Risk-weighted exposure amounts 4 Total risk exposure amount 46,204 44,664 39,771 38,443 35,056 Capital ratios (as a percentage of risk-weighted exposure amount) 5 Common Equity Tier 1 ratio (%) 12.88 13.03 13.86 10.80 12.21 6 Tier 1 ratio (%) 15.45 15.69 16.10 13.12 14.75 7 Total capital ratio (%) 18.71 18.44 19.12 16.18 18.12 Additional own funds requirements to address risks other than the risk of excessive leverage (as a percentage of risk-weighted exposure amount) EU 7a Additional own funds requirements to address risks other than the risk of excessive leverage (%) 1.09 1.09 1.09 1.09 1.09 EU 7b – of which: to be made up of CET1 capital (percentage points) 0.61 0.61 0.61 0.61 0.61 EU 7c – of which: to be made up of Tier 1 capital (percentage points) 0.82 0.82 0.82 0.82 0.82 EU 7d Total SREP own funds requirements (%) 9.09 9.09 9.09 9.09 9.09 Combined buffer and overall capital requirement (as a percentage of risk-weighted exposure amount) 8 Capital conservation buffer (%) 2.50 2.50 2.50 2.50 2.50 EU 8a Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member State (%) 0.00 0.00 0.00 0.00 0.00 9 Institution specific countercyclical capital buffer (%) 1.12 0.97 0.91 0.88 0.77 EU 9a Systemic risk buffer (%) 0.00 0.00 0.00 0.00 0.00 10 Global Systemically Important Institution buffer (%) 0.00 0.00 0.00 0.00 0.00 EU 10a Other Systemically Important Institution buffer (%) 0.00 0.00 0.00 0.00 0.00 11 Combined buffer requirement (%) 3.62 3.47 3.41 3.38 3.27 EU 11a Overall capital requirements (%) 12.71 12.56 12.50 12.47 12.36 12 CET1 available after meeting the total SREP own funds requirements (%) 7. 7 6 7. 9 1 8.74 5.68 7.1 0 Pillar 2 Guidance (%) 0.50 0.50 0.50 0.50 0.50 Overall capital requirements and Pillar 2 Guidance (%) 13.21 13.06 13.00 12.97 12.86 Leverage ratio 13 Total exposure measure 71,748 71,200 65,989 63,843 59,487 14 Leverage ratio (%) 9.95 9.84 9.70 7. 9 0 8.69 Hoist Finance ▪ Interim report January – September 2026
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Noter 33 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Capital adequacy, cont6 Note Liquidity risk7 This note provides information required to be disclosed under the pro- visions of FFFS 2010:7 , including applicable amendments, regarding the management of liquidity risks in credit institutions and investment firms. Liquidity risk is the risk of difficulties in obtaining funding, and thus not being able to meet payment obligations at maturity without a significant increase in the cost of obtaining means of payment. Because the Group’s revenues and expenses are relatively stable, liquidity risk is primarily associated with the Group’s funding which is based on deposits from the public. By definition this way of funding has a risk of major outflows of deposits at short notice. The overall objective of the Group’s liquidity management is to ensure that the Group maintains control over its liquidity risk situation, with sufficient funds in liquid assets or immediately saleable assets to ensure timely discharge of its payment obligations without incurring high additional costs. Funding is mainly raised in the form of deposits from the public and through the capital markets through the issuance of senior unsecured debts, own funds instruments and equity. Deposits from the public are comprised of fixed term deposits, corresponding to 100 per cent (100) of total deposits. About 99.98 per cent of deposits are fully covered by the Swedish state deposit guarantee. Funding Hoist Finance consoli- dated situation Hoist Finance AB (publ) SEK m 30 Sep 2026 31 Dec 2025 30 Sep 2026 31 Dec 2025 Current account deposits - - - - Fixed-term deposits 48,806 42,756 48,806 42,756 Debt securities issued 7 ,294 7 ,046 7 ,156 6,919 Additional Tier 1 capital 1,189 891 1,189 891 Subordinated debts 3,209 2,878 3,209 2,878 Equity 6,814 6,197 6,436 5,258 Other 2,976 3,448 1,960 2,678 Balance sheet total 70,288 63,216 68,756 61,379 All capital ratios are above the regulatory requirements. A deduction for expected future dividend of 30 per cent has been made from the Group’s results, weighted for three quarters of 2026. On 4th February 2026, Hoist Finance qualified as an SDR, which resulted in the release of capital deduction for the NPL backstop. 1) Ratio corrected for the periods Quarter 1 2025 to Quarter 4 2025 SEK m Quarter 3 2026 Quarter 2 2026 Quarter 1 2026 Quarter 4 2025 Quarter 3 2025 Additional own funds requirements to address the risk of excessive leverage (as a percentage of total exposure measure) EU 14a Additional own funds requirements to address the risk of excessive leverage (%) 0.00 0.00 0.00 0.00 0.00 EU 14b – of which: to be made up of CET1 capital (percentage points) 0.00 pp 0.00 pp 0.00 pp 0.00 pp 0.00 pp EU 14c Total SREP leverage ratio requirements (%) 3.00 3.00 3.00 3.00 3.00 Leverage ratio buffer and overall leverage ratio requirement (as a percentage of total exposure measure) EU 14e Leverage ratio buffer requirement (%) 0.00 0.00 0.00 0.00 0.00 EU 14f Overall leverage ratio requirement (%) 3.00 3.00 3.00 3.00 3.00 Pillar 2 Guidance (%) 2.25 2.25 2.25 2.25 2.25 Overall leverage ratio requirement and Pillar 2 Guidance (%) 5.25 5.25 5.25 5.25 5.25 Liquidity Coverage Ratio 15 Total high-quality liquid assets (HQLA) (Weighted value -average) 22,446 21,448 21,245 19,767 19,201 EU 16a Cash outflows – Total weighted value 4,745 4,909 5,185 4,691 4,362 EU 16b Cash inflows – Total weighted value 4,282 4,401 4,280 4,477 5,069 16 Total net cash outflows (adjusted value) 1,338 1,363 1,648 1,525 1,405 17 Liquidity coverage ratio (%)¹⁾ 1,854 1,780 1,595 1,743 1,870 Net Stable Funding Ratio 18 Total available stable funding 60,604 59,301 55,998 54,761 50,292 19 Total required stable funding 43,922 42,906 38,695 38,223 35,299 20 NSFR ratio (%) 138 138 145 143 142 Hoist Finance ▪ Interim report January – September 2026
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A contingent liability shall be recognised and disclosed when an obligation is possible but not likely. During the second quarter of 2026, contingent liabilities of approximately SEK 37 million were released. These related to Hoist Finance’s right to deduct input VAT in Sweden for the period 2018-2020. Following decisions received from the Swedish Tax Agency in June 2026, a minor portion of the contingent liabilities crystallised into actual costs, while the substantial majority ceased to exist and were accordingly released. Remaining tax-related contingent liabilities include a French item of approximately SEK 21 million relating to the right to deduct French input VAT. In addition, an income tax matter has been treated as a contingent liability following the Swedish Tax Agency’s disallowance of a cost deduction in the tax returns for 2023 and 2024, corresponding to a possible tax effect of approximately SEK 23 million. For these contingent liabilities, Hoist Finance assesses it as more likely than not that the Company will prevail in any potential court proceed- ings. Accordingly, no provisions have been recognised, nor have any receivables been written down. Other contingent liabilities mainly relate to bank guarantees (Letters of Guarantee) of approximately SEK 81 million issued by banks on behalf of Hoist Finance. The guarantees enable Hoist Finance to collect the proceeds of enforcement auctions before the creditors ranking table is finalised, and secure a possible obligation to repay the funds if a court amends the distribution of the auction proceeds. If a Letter of Guarantee is forfeited, Hoist Finance must reimburse the bank. 34 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Liquidity risk, cont.7 The Group’s Treasury Policy specifies a limit and a target level for the amount of available liquidity and its nature. Available liquidity totalled SEK 26,723m (26,510) as per 30 September 2026, exceeding the limit and the target level by a significant margin and is driven by prepara- tions to long-term qualify for the NSFR level under SDR status. Hoist Finance’s liquidity reserve, presented in accordance with the Swedish Bankers’ Association’s template, is comprised mainly of bonds issued by the Swedish government and Swedish municipalities, as well as covered bonds. A higher liquidity reserve strengthens the compa- ny’s liquidity situation, but can also entail greater risk of volatility in the market valuation of the liquidity reserve. It can also have a negative impact on net interest income, as the return on the liquidity reserve is generally lower than the company’s average funding costs. During the second quarter of 2026, Hoist Finance deposited SEK 154m with the Riksbank in accordance with a new deposit requirement that applies to all Swedish banks and credit institutions. Liquidity reserve, Hoist Finance consolidated situation SEK m 30 Sep 2026 31 Dec 2025 Cash and holdings in central banks – – Deposits in other banks available overnight 3,154 4,955 Securities issued or guaranteed by sovereigns, central banks or multilateral development banks 6,954 7 ,621 Securities issued or guaranteed by municipalities or other public sector entities 9,219 8,537 Covered bonds 7, 3 9 7 5,396 Securities issued by non-financial corporates – – Securities issued by financial corporates – – Other – – Total 26,723 26,510 Hoist Finance has a liquidity contingency plan for managing liquidity risk. This identifies specific events that may trigger the contingency plan and required actions to be taken. Note Pledges, contingent liabilities and commitments8 Pledged assets in the Group pertain to restricted bank balances and the value of portfolios pledged as collateral for issued bonds in securiti- sation structures Marathon SPV S.r.l. and Giove SPV S.r.l. The Group’s commitments consists of forward flow contracts that are signed but not yet settled. In forward flow contracts, a pre-determined volume (fixed or range) of NPLs is acquired at a pre-defined price dur- ing a certain time period. Group Parent company SEK m 30 Sep 2026 31 Dec 2025 30 Sep 2026 31 Dec 2025 Restricted bank balances 21 1 17 – Loan portfolios, external loan 1,113 1,203 1,113 1,203 Acquired portfolios in the securitisation structure 1,404 1,646 – – Pledged assets 2,538 2,850 1,129 1,203 Contingent liabilities 125 75 124 75 Unused purchase commitments (forward flow) 1,290 789 429 600 Commitments 1,290 789 429 600 Hoist Finance ▪ Interim report January – September 2026
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35 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Note Hoist Finance’s share10 NUMBER OF SHARES OUTSTANDING 30 Sep 2026 30 Sep 2025 31 Dec 2025 Issued shares at beginning of year 87 ,422,606 87 ,422,606 87 ,422,606 New share issue 429,714 – – Repurchased shares – – – Number of shares outstanding at end of period 87 ,852,320 87 ,422,606 87 ,422,606 Last price, SEK 208.00 99.50 112.80 Market value, SEK m 18,273 8,699 9,861 AVERAGE NUMBER OF SHARES OUTSTANDING Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Weighted average number of ordinary shares outstanding before dilution 87 ,632,792 87 ,422,606 87 ,493,438 87 ,422,606 87 ,422,606 Effect of dilutive potential ordinary shares – – – – – Weighted average number of ordinary shares outstanding after dilution 87 ,632,792 87 ,422,606 87 ,493,438 87 ,422,606 87 ,422,606 EARNINGS, SEK m Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Profit for the period attributable to owners of Hoist Finance AB (publ) 355 262 1,117 678 1,014 Earnings used in calculation of earnings per share 355 262 1,117 678 1,014 EARNINGS PER SHARE, SEK Quarter 3 2026 Quarter 3 2025 Jan-Sep 2026 Jan-Sep 2025 Full-year 2025 Earnings per share before dilution 4.05 3.00 12.76 7. 7 5 11.59 Earnings per share after dilution 4.05 3.00 12.76 7. 7 5 11.59 Note Debt securities issued and Subordinated debts9 SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Issued securities at beginning of year 7 ,046 5,023 5,023 Issued 361 1,743 3,005 Repurchased – −237 −479 Matured −134 −376 −379 Foreign exchange effects etc. 22 −112 −124 Issued securities at end of period 7 ,294 6,041 7 ,046 SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Issued subordinated debts at beginning of year 2,878 1,934 1,934 Issued 300 994 994 Repurchased – – – Matured – – – Foreign exchange effects etc. 31 −46 −50 Issued subordinated debts at end of period 3,209 2,882 2,878 Hoist Finance ▪ Interim report January – September 2026
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36 Notes Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist FinanceNotes Carrying amount in the Group as at the acquisition date SEK m 26 Jun 2026 Assets Lending to credit institutions1) 55 Portfolio book value 2,587 Other assets 97 Liabilities Other liabilities −134 Deferred tax liabilities −26 Total identifiable net assets 2,579 Transferred consideration1) 2,579 Acquired loan portfolios, fair value 2,587 Acquired loan portfolios, gross contractual amount 30,695 Note Business combinations11 1) The net total of consideration transferred (SEK 2 579m) and lending to credit insti- tutions (SEK 55m) corresponds to the amount reported in the line item “ Acquired business operations” in the consolidated cash flow statement (SEK 2 524m). On 26 June 2026 Hoist Finance acquired UK debt purchaser Azzurro Associates for SEK 2 579m. The purchase price, payable in cash, does not include any contingent additional purchase price. Azzurro Associates is a UK -based debt management company special- ised in non-performing SME loans, with a portfolio value of approxi- mately 200 million pounds (GBP). The acquisition is aligned with Hoist Finance’s growth strategy and strengthens the Group’s position in the UK, one of Europe’s largest credit markets. With this acquisition, Hoist Finance strengthens its presence and gains relevant regulatory licences and specialised expertise in the SME sector. Combined with Hoist Finance’s existing UK operations, this creates a strong platform for continued market growth. Hoist Finance acquired 100 per cent of the shares in Azzurro Associates Ltd, a UK entity, including its wholly owned subsidiaries Solaris Law Ltd and Solaris Law (Commercial) Ltd, 100 per cent of the shares in Next Finance BV in the Netherlands, as well as a separate NPL portfolio from Azzurro Investments S.à r.l. in Luxembourg. Pursuant to IFRS 3, all of the above-referenced components are deemed to comprise one single business combination. Subsidiaries are consolidated in the consolidated financial statements in accordance with the acquisition method as from the date on which controlling interest is obtained. An acquisition analysis was carried out, in which the identifiable assets and liabilities were measured at fair value as at the acquisition date. The fair values of the net assets correspond in all material respects to the purchase price and, accordingly, no goodwill is recognised. Acquisition-related expenses amount to SEK 58m and have been expensed as incurred in the income statement as other administrative expenses. The acquisition’s impact on profit/loss has been recognised as from 1 July 2026. During the period 1 July 2026 through 30 Septem- ber 2026, the acquisition contributed SEK 133m to the Group’s revenue and SEK 16m to net profit. If the acquisition had been completed at the start of the financial year, it would have contributed an estimated amount of approximately SEK 286m in revenue and approximately SEK 43m to net profit for the period through 30 June 2026. The pro forma figures presented in the Q2 interim report were based on information available at the time and included items affecting comparability, as well as preliminary assumptions and eliminations. Hoist Finance ▪ Interim report January – September 2026
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37 Assurance Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance DefinitionsNotes About Hoist Finance Assurance Assurance The CEO hereby give the assurance that the interim report provide a true and fair view of the business activities, financial position and results of operations of the Group and the Parent Company, and describes the significant risks and uncertainties to which the Parent Company and Group are exposed. Stockholm 22 October, 2026 Harry Vranjes Chief Executive Officer NotesNotes Hoist Finance ▪ Interim report January – September 2026
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38 Definitions Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance Definitions About Hoist Finance Definitions Definitions – including Alternative Performance Measures Alternative performance measures Alternative performance measures (APMs) are financial measures of past or future earnings trends, financial position or cash flow that are not defined in the applicable accounting regulatory framework (IFRS), in the Capital Requirements Directive (CRD IV), or in the EU’s Capital Requirements Regulation number 575/2013 (CRR). APMs are used by Hoist Finance, along with other financial measures, when relevant for monitoring and describing the financial situation and for providing addi- tional useful information to users of the financial statements. These measures are not directly comparable with similar performance measures that are presented by other companies. C/I ratio, Return on equity, and Cash EBITDA are alternative performance measures that provide information on Hoist Finance’s profitability. “Estimated Remaining Collections” is Hoist Finance’s estimate of the gross amount that can be collected on portfolio book value. Definitions of alternative performance measures and other key figures are presented below. The financial fact book, available on hoistfinance.com/Investors/reports-and- presentations2/, provides details on the calculation of key figures. Performance measures according to IFRS and other legislation Average number of employees Average number of employees during the year converted to full-time posts (FTEs). The calculation is based on the total average number of FTEs per month divided by the year’s twelve months. Basic earnings per share Net profit for the period, adjusted for interest on capital instruments recorded in equity, divided by the weighted average number of outstanding shares. Diluted earnings per share Net profit for the period, adjusted for interest on capital instruments recorded in equity, divided by the weighted average number of out- standing shares after full dilution. Return on assets (only presented yearly in accordance with FFFS 2008:25) Net result for the year as a percentage of average total assets. Weighted average number of shares outstanding Weighted number of shares outstanding plus potential dilutive effect of warrants outstanding. Alternative Performance Measures Cash EBITDA Cash EBITDA is an adjusted version of EBITDA focused on operating cash flows generated by the underlying business. It departs from EBITDA, adds gross collections from acquired loan portfolios in the quarter, adjusts for over/under performance (realised collections against active forecast) and portfolio revaluations, takes out interest income from acquired loan portfolios and adjusts for fair value changes on the co-investment portfolio (i.e. over/under collections on co-invest- ments). C/I ratio Total operating expenses in relation to Total operating income and Share of profit from joint ventures. Collection performance Actual collections for a specific period of time adjusted for contractual and timing adjustments, divided by estimated collections. Direct contribution Direct contribution is the total operating income minus direct costs attributable to each business line. EBITDA EBITDA measures operating profitability before interest, taxes, depre- ciation and amortisation. The metric starts with net profit which is then adjusted for income tax expense, net results from financial transactions, interest expense, interest income (excluding interest income from the underlying business i.e. the NPL-portfolios), and depreciation and amortisation. Fee and commission income Fees for providing debt management services to third parties. Gross 180-month ERC “Estimated Remaining Collections” – the company’s estimate of the gross amount that can be collected on the loan portfolios currently owned by the company. The assessment is based on estimates for each loan portfolio and extends from the following month through the coming 180 months. The estimate for each loan portfolio is based on the company’s extensive experience in processing and collecting over the portfolio’s entire economic life. Internal funding The internal funding cost is determined per portfolio applying the following monthly interest rate: (1+annual interest)^(1/12)–1. Items affecting comparability Items that interfere with comparison due to the irregularity of their occurrence and/or size as compared with other items. Items affecting comparability can consist of costs for restructuring, impairment of goodwill and other revenues and costs which are not recurring. Legal collection Legal collections relate to the cash received following the initiation of Hoist Finance’s litigation process. This process assesses borrowers’ solvency and follows regulatory and legal requirements. Portfolio acquisitions Acquisitions of portfolios during the period, consisting of defaulted and non-defaulted consumer loans and SME loans. Portfolio book value An acquired loan portfolio consists of a number of defaulted and non-defaulted consumer loans or debts and SME loans that arise from the same originator. NotesNotes Hoist Finance ▪ Interim report January – September 2026
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39 Definitions Financial statements Statement by the CEO Developments 2026 Quarterly review Assurance Definitions About Hoist Finance Portfolio revaluations Changes in the portfolio value based on revised estimated remaining collections for the portfolio. Return on equity Net profit for the period adjusted for accrued unpaid interest on AT1 capital calculated on annualised basis, divided by equity adjusted for AT1 capital reported in equity, calculated as an average for the period based on a quarterly basis. Definitions – According to the EU Capital Requirements Regulation no 575/2013 (CRR) Additional Tier 1 capital Capital instruments and associated share premium reserves that fulfil the requirements of Regulation (EU) 575/2013 of the European Parlia- ment and the Council and that may accordingly be included in the Tier 1 capital. Capital requirements – Pillar 1 Minimum capital requirements for credit risk, market risk and operational risk. Capital requirements – Pillar 2 Capital requirements beyond those stipulated in Pillar 1. Common Equity Tier 1 Capital instruments and associated share premium reserves that fulfil the requirements of Regulation (EU) 575/2013 of the European Parlia- ment and the Council, and other equity items that may be included in CET1 capital, less regulatory dividend deduction and deductions for items such as goodwill and deferred tax assets. Common Equity Tier 1 ratio Common Equity Tier 1 in relation to total risk exposure amount. Leverage ratio An institution’s Tier 1 capital in relation to total exposure measure. Liquidity coverage ratio (LCR) A mandatory requirement for banks within the EU, whereby an institu- tion must hold a sufficiently large buffer of liquid assets to be able to withstand actual and simulated cash outflows for a period of 30 days while experiencing heavy liquidity stress. Liquidity reserve Hoist Finance’s liquidity reserve is a reserve of high-quality liquid assets which is used to carry out planned acquisitions of loan portfolios and to secure the Company’s short-term capacity to meet payment obligations in the event of lost or impaired access to regularly available funding sources. Net stable funding ratio (NSFR) Measures the amount of stable funding available to an institution to cover its stable funding requirements over a one-year period under both normal and stressed conditions. Own funds Sum of Tier 1 capital and Tier 2 capital. Risk-weighted exposure amount The risk weight of each exposure multiplied by the exposure amount. Specialised debt restructurer (SDR) Changes to the European Banking Authority’s (EBA) rules on the minimum loss coverage for Non-Performing Loans (NPLs), known as the prudential backstop, were introduced in 2019. The backstop rules imply a CET1 capital deduction for the NPLs held on a balance sheet according to a predefined calendar. In January 2025, a new banking package entered into force to implement the final elements of the Basel III framework in the EU. The banking package includes a section on reg- ulated specialised banks that are exempt from the backstop regulation. Banks and credit market companies that meet the full criteria can thus qualify as Specialised Debt Restructurers (SDRs). Tier 1 capital The sum of CET1 capital and AT1 capital. Tier 1 capital ratio Tier 1 capital as a percentage of the total risk exposure amount. Tier 2 capital Capital instruments and associated share premium reserves that fulfil the requirements of Regulation (EU) 575/2013 of the European Parliament and the Council and that may accordingly be included in the funds. Total capital ratio Own funds as a percentage of the total risk exposure amount. Non-Financial Definitions Co-investments Co-investments consist of notes in established Special Purpose Vehicles (SPV) that Hoist Finance subscribe to, together with third parties. These SPVs in turn, own loan portfolios. Investment portfolio Hoist Finance’s investment portfolio consist of Portfolio book value (loan portfolios) and co-investments. Non-performing loans (NPLs) A loan that is deemed to cause probable credit losses including individ- ually assessed impaired loans, portfolio assessed loans past due more than 60 days and restructured portfolio assessed loans. Hoist Finance primarily purchases loans that are credit-impaired on initial recognition. Number of employees (FTEs) Number of employees at the end of the period converted to full-time posts (FTEs). SME A company that employs fewer than 250 people and has either annual turnover of EUR 50m or less or a balance sheet total of EUR 43m or less. Timing effects A revaluation driven by changing the cash forecast to reflect cash already received and/or changes to when assets still expected to be collected are amortised. DefinitionsNotesNotes Hoist Finance ▪ Interim report January – September 2026
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Om Hoist Finance CEO comments Quarterly Review AssuranceFinancial statements DefinitionsNotesDevelopments 2025 About Hoist Finance Hoist Finance ▪ Interim report January – September 202640 About Hoist Finance About Hoist Finance Hoist Finance is an asset manager specialised in non-performing loans. For more than 30 years, we have invested in and managed debt portfolios. We are a partner to international banks and financial institutions across Europe, acquiring their non-performing loan portfolios. We are also a partner to consumers and smaller companies in a debt situation, creating long- term sustainable repayment plans enabling them to honour their commitments. We are a regulated credit market company under the supervision of the SFSA, present in 15 European countries. Our share is listed on Nasdaq Stockholm. For more information, visit www.hoistfinance.com. Financial calendar Additional financial information and pillar 3 disclosures are available in Hoist Finance Fact Book which is published quarterly on https://www.hoistfinance.com/investors/ Y ear-end report 2026 3 February, 2027 Annual report 2026 24 March, 2027 Interim report Q1 2027 5 May, 2027 Annual General Meeting 2027 11 May, 2027 Interim report Q2 2027 23 July, 2027 Interim report Q3 2027 27 October, 2027 Y ear-end report 2027 2 February,2028 Presentation A combined presentation and teleconference will be held on 23 October, 2026 at 10.00 AM (CEST). If you wish to participate via webcast please use the link below. https://events.inderes.com/hoist-finance/q3-report-2026 If you wish to participate via teleconference, please register on the link below. After registration you will be provided a phone number and a conference ID to access the conference. You can ask questions verbally via the teleconference. https://events.inderes.com/hoist-finance/q3-report-2026/dial-in Every care has been taken in the translation of this report. In the event of any discrepancy, the Swedish original will supersede the English translation Hoist Finance AB (publ) (the “Company” or the “Parent”) is the parent company of the Hoist Finance group of companies (“Hoist Finance”). The company is a regu- lated credit market company. Hence, Hoist Finance produces financial statements in accordance with the Swedish Annual Accounts Act for Credit Institutions and Securities Companies. The information in this interim report has been published by Hoist Finance AB (publ) pursuant to the EU Market Abuse Regulation. This information was submit- ted for publication through the agency of the contact person set out above, on 23 October, 2026 at around 07 .00 AM (CEST). Contact Karin Tyche, Chief Investor Relations & Communications Officer Email: ir@hoistfinance.com Ph: +46 76 780 97 65 The interim report and investor presentation are available at www.hoistfinance.com