Slides
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Lea Bank AB October 22nd 2026 3rd quarter 2026 results presentation
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This Presentation from Lea Bank AB ("Lea Bank" or the "Company") includes among other things forward -looking statements. Certain such forward-looking statements can be identified by the use of forward -looking terminology such as “believe”, “may”, “will”, “should ”, “would be”, “expect” or “anticipate” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminol ogy, or by discussions of strategy, plans or intentions. The forward-looking statements contained in this Presentation, including assumptio ns, opinions and views of the Company or cited from third party sources, reflect the current views with respect to future events and are s ubject to material risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Ne ither Lea Bank nor any of its officers or employees provides any assurance as to the correctness of such forward -looking information and statements. The Company does not intend, and assumes no obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to its actual results. The interim financial statements for the first, second and third quarters have not been audited; accordingly, year -to-date profits for these periods are not included in the capital ratios. Capital ratios as at year -end include the annual result. By attending or receiving this Presentation you acknowledge that you will be solely responsible for your own assessment of th e market and the market position of Lea Bank and that you will conduct your own analysis and be solely responsible for forming your own vi ew of the potential future performance of Lea Bank’s business and the securities issued by Lea Bank. This Presentation is current as of the date of the presentation. Neither the delivery of this Presentation nor any further di scussions of Lea Bank with any of the recipients shall, under any circumstances, create any implication that there has been no change in the a ffairs of Lea Bank since such date. Disclaimer 2
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Highlights and development Q3 Financial results Q3 Outlook Appendix
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Consumer finance bank with a strong presence in the Nordic market… • Swedish niche bank with HQ in Gothenburg, following redomicilation from Norway to Sweden • Focus on creating shareholder value through continuous profit generation, optimizing capital allocation and evaluation of growth versus dividends • Listed on Nasdaq First North Premier Growth Market in Stockholm, over 4,200 shareholders. Large shareholders include Multitude Bank, Erik Salén, Hjellegjerde Invest and Braganza AB …leveraged by a scalable digital platform • Lea Bank has a fully digital bank offering focusing on unsecured loans and deposits • Scalable operation model on the back of leading technological solutions, cross- border operations and industry leading cost efficiency • Proven value chain with inhouse credit analysis and operations, and broad distribution network • Focus on core markets in the Nordics and Spain Product portfolio Lea Bank at a glance Swedish digital niche bank with an international footprint Norway 4,095 MSEK Sweden 2,569 MSEK Finland 3,441 MSEK Gross loans 10,873 MSEK – geographical mix Q3 2026 | 4 Consumer loans Savings accounts with attractive terms in SEK, EUR and NOK Debt consolidation Consumer finance Deposits Spain 768 MSEK Credit cards
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Note on key figures: PBT: Profit before tax, ROE: Annualized Return On Equity (excluding tier -1 capital), EPS: Annualized Earnings per share, C/I: Cost to income 1) ROE adjusted subtracts excess capital to regulatory requirements 2) Equity excluding tier 1 capital MSEK Q3-26 2026 YTD 2025 Interest income 257.5 730.2 850.3 PBT 40.4 123.9 147.0 ROE, annualized 9.6% 9.7% 8.8% ROE, adjusted1 13.3% 14.3% 13.9% CET-1 % 12.8% 12.8% 15.6% EPS pre-tax, annu. 1.67 1.71 1.53 C / I 29.8% 30.5% 32.4% Gross loans 10,873 10,873 9,336 Q3 2026 highlights Growing the loan book while keeping C/I under target level Q3 financials • Profit before tax 40.4 MSEK (profit after tax 31.4 MSEK) • Interest income grows 18% Y-o-Y • Continuous cost control - cost / income of 29.8% Equity2 # of shares BVPS 1,316 96,782,189 13.60 | 5 Core business • Increase in gross loans by 554 MSEK • Decreasing NPL ratio as a result of the bank’s NPL management • Elevated churn, mainly in broker-originated loans; increased focus on direct channel sales Capital optimisation • In September 2026, the Bank issued NOK 200 million in bonds: NOK 80 million AT1 and NOK 120 million Tier 2 • Pricing was at record-low spreads
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Gross loans, MSEK 7,152 7,270 7,716 8,120 8,685 374 432 414 462 5991,540 1,634 1,641 1,736 1,5899,066 9,336 9,770 10,319 10,873 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Stage1 Stage 2 Stage 3 Comments Strong growth in first nine months of 2026 • Growth in Norway, Sweden and Spain, also in local currency. Slight decrease in Finland following NPL portfolio sale • Stage 1 Y-o-Y growth of 21% and 1,533 MSEK • Growth through the quarter: • 7.0% and 565 MSEK growth in stage 1 • 5.4% and 554 MSEK growth in gross loans Diversified geographical exposure Geographical mix, gross loans | 6 36.8 % 34.9 % 35.7 % 35.6 % 37.7 % 36.6 % 35.7 % 35.0 % 34.9 % 31.6 % 21.3 % 24.0 % 23.5 % 23.2 % 23.6 % 5.3 % 5.4 % 5.9 % 6.3 % 7.1 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Norway Finland Sweden Spain
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Highlights and development Q3 Financial results Q3 Outlook Appendix
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Income statement Lea Bank AB Comments on income statement • Profit before tax Q3-26 of 40.4 MSEK • Profit after tax Q3-26 of 31.4 MSEK representing an annualized ROE of 9.6 % (13.3 % adjusted for excess capital to regulatory requirements) • Interest income in Q3-26 of 257.5 MSEK – increase driven by higher lending volumes • Interest expense in Q3-26 of 84.9 MSEK – increase in line with growth • OPEX of 61.1 MSEK and C/I of 29.8 % as of Q3-26 – reflecting strong cost control both in nominal and relative terms • Loan losses in Q3-26 of 103.3 MSEK equal to an annual loan loss ratio of 3.9 %. | 8 TSEK Q3 2026 Q3 2025 2026 YTD 2025 Interest income 257,471 218,711 730,159 850,254 Interest expense -84,891 -57,890 -233,572 -239,894 Net interest income 172,580 160,822 496,587 610,360 Commission and fee income 24,480 15,430 61,682 54,146 Commission and fee expenses -1,790 -1,261 -4,425 -5,217 Net commission income 22,690 14,169 57,257 48,930 Net result of financial transactions 9,049 1,208 30,261 9,319 Other operating income 497 -1,057 1,565 1,063 Total operating income 204,816 175,141 585,671 669,673 General administrative expenses -51,923 -43,335 -148,958 -180,043 Depreciation, amortisation and impairment of tangible and intangible assets -6,367 -5,850 -18,625 -23,342 Other operating expenses -2,806 -3,565 -10,759 -13,649 Total operating expenses -61,097 -52,750 -178,341 -217,035 Profit before credit losses 143,720 122,391 407,329 452,638 Net credit losses -103,306 -80,928 -283,431 -305,646 Operating profit 40,413 41,463 123,898 146,992 Tax expense on profit for the period -9,041 -8,148 -27,943 -31,860 Net profit for the period 31,372 33,315 95,955 115,131
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Balance sheet Lea Bank AB Comments on balance sheet • Gross loans of 10,873 MSEK 30.09.2026 an increase of 554 MSEK in the quarter, growth in Norway, Sweden and Spain in local currency terms, Finland slightly lower after the NPL portfolio sale • Diversified funding platform with deposits through own distribution in all Nordic markets, supported by funding platforms in continental Europe – growth of 478 MSEK in the quarter • Strong Liquidity balance of 2,038 MSEK 30.09.2026, liquidity ratios LCR and NSFR well above regulatory requirements • Solid capital base – CET-1 of 12.8 % (13.9% incl. YTD profits), compared to regulatory minimum requirements of 9.0 %. The bank operates with an internal capital buffer of 2.5 % in addition to regulatory minimum requirements • Total equity of 1,473 MSEK, BVPS (ex. T1 capital) of 13.60 SEK | 9 TSEK 30.09.2026 30.09.2025 31.12.2025 Assets Cash and deposits with the central bank 15,491 0 0 Loans to credit institutions 360,803 408,389 307,419 Loans to the public 10,046,546 8,311,498 8,511,134 Bonds and other interest-bearing securities 1,227,308 701,366 727,707 Shares and units 434,257 188,797 553,934 Current tax assets 6,849 11,919 8,958 Intangible assets 67,768 75,069 72,042 Fixed assets 7,982 13,571 12,124 Other assets 49,850 40,105 46,213 Total assets 12,216,856 9,750,712 10,239,530 Equity and liabilities Deposits from the public 10,343,041 8,126,777 8,585,160 Other liabilities 187,734 106,610 129,289 Subordinated liabilities 213,146 128,763 124,940 Total liabilities 10,743,921 8,362,151 8,839,390 Share capital 193,564 191,944 191,944 Retained earnings 1,026,564 1,015,902 998,013 Tier 1 capital 156,852 97,967 95,052 Net profit for the year 95,955 82,749 115,131 Total equity 1,472,935 1,388,562 1,400,141 Total liabilities and equity 12,216,856 9,750,712 10,239,530
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New Tier 2 and AT1 capital issued at record-low margins NOK 200 million issued in September Called = 2021 bonds (Tier 2 NOK 50m, AT1 NOK 32m). Amounts at nominal value. Outstanding AT1 and Tier 2 capital by first call date NOK million | Total outstanding NOK 361m (Tier 2: 208, AT1: 153) 18 70 120 23 50 80 2027 2030 2031 (new) Tier 2 AT1 200 NOK million new AT1 and Tier 2 issued 4.20% Blended margin over 3M NIBOR -83 bp Lower than on the called bonds Margin: new bonds vs called bonds Over 3M NIBOR 4.25% 6.25% 4.00% 4.50% Tier 2: -25 bp AT1: -175 bp Called 2021 bonds New bonds Full utilisation of the AT1 and Tier 2 capital classes – an optimised capital structure
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Loan losses, MSEK Loan loss ratio1 Credit quality Overview 1) Loan loss ratio = monthly loan losses p.a / monthly avg. gross loans 2) Non-performing loan ratio = stage 3 ratio 3) Total = Total provision / Gross loans Stage allocation Non-performing loans2, MSEK Provisions, MSEK Total provision ratio3 81 83 89 92 103 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 754 825 814 881 826 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 78.9 % 77.9 % 79.0 % 78.7 % 79.9 % 4.1 % 4.6 % 4.2 % 4.5 % 5.5 % 17.0 % 17.5 % 16.8 % 16.8 % 14.6 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Stage 1 Stage 2 Stage 3 3.7 % 3.6 % 3.7 % 3.6 % 3.9 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 38.4 % 41.0 % 39.7 % 41.3 % 40.5 % 14.3 % 12.1 % 12.8 % 11.8 % 10.5 % 1.5 % 1.4 % 1.4 % 1.3 % 1.4 % 8.3 % 8.8 % 8.3 % 8.5 % 7.6 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Stage 3 Stage 2 Stage 1 Total | 11 1,540 1,634 1,641 1,736 1,589 17.0 % 17.5 % 16.8 % 16.8 % 14.6 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Stage 3 loans Stage 3 loans to loans
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Highlights and development Q3 Financial results Q3 Outlook Appendix
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Lea Bank AB Summary and outlook ✓ Profit before tax of 40.4 MSEK ✓ Gross loans growth of ~550 MSEK (5.4% growth) ✓ Successful issuance of AT1 and T2 capital 2026 YTD Profit before tax Equity1 CET-1 ratio 123.9 MSEK 1,316 MSEK 12.8% Summary of the quarter | 131) Equity excluding tier 1 capital Focus areas going forward Increase customer lifetime value Increase share of lending origination from direct channels Reduce NPL exposure 1 2 3
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A Appendix | 14
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Gross lending Profit after tax and ROE Financial overview 1) Reported CET-1 ratios. Q1, Q2 and Q3 excluding unaudited YTD profit. Q4-25 includes YTD profits, not yet audited Net income and net interest margin Loan losses Opex and Cost / Income Equity and CET-1 ratio1 | 15 33.3 32.4 31.4 33.2 31.4 10.5% 10.0% 9.5% 10.1% 9.6% Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Profit after tax ROE 175 180 189 192 205 161 166 161 163 173 6.7 % 6.6 % 6.0 % 5.8 % 5.8 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Total Income Net interest income Net interest margin 81 83 89 92 103 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 43.3 43.5 49.6 47.5 51.9 5.9 6.1 6.1 6.1 6.43.6 3.7 3.8 4.2 2.852.8 53.2 59.4 57.8 61.1 30.1 % 29.5 % 31.5 % 30.0 % 29.8 % Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Other administrative expenses D&A Other operating expenses C / I 7,152 7,270 7,716 8,120 8,685 374 432 414 462 599 1,540 1,634 1,641 1,736 1,589 9,066 9,336 9,770 10,319 10,873 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Stage1 Stage 2 Stage 3 1,389 1,400 1,432 1,397 1,473 15.6% 15.6% 14.9% 13.7% 12.8% 9.0% 9.0% 9.0% 9.0% 9.0% 0 0 0 0 0 0 0 0 0 0 1000 1100 1200 1300 1400 1500 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Equity CET1 ratio CET1 requirement
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Total assets, MSEK Equity and liabilities, MSEK Balance sheet structure Strong funding and liquidity position • Deposit ratio: 103% • Liquidity coverage ratio: 538% total (916% SEK, 135% EUR, 399% NOK) • Net stable funding ratio: 127% total 8,311 8,511 8,956 9,439 10,047 890 1,282 1,702 1,613 1,662 408 307 356 380 376 141 139 133 117 132 9,751 10,240 11,147 11,548 12,217 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Loans to customers Certificates and bonds Deposits in other banks Other assets 8,127 8,585 9,439 9,865 10,343 129 125 133 134 213 1,389 1,400 1,432 1,397 1,473 107 129 142 152 188 9,751 10,240 11,147 11,548 12,217 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Deposits from customers & loans from credit institutions Tier 2 capital Equity Other liabilities | 16
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Top 20 shareholder list as of September 30th 2026 Comments Lea Bank shareholders Trading on Nasdaq Stockholm Shareholder Shares Ownership 1 Clearstream Banking S.A.1 28,489,204 29.4 % 2 Largus Holding AB 10,898,225 11.3 % 3 Filial I Sverige Nordea Bank Abp1 10,568,578 10.9 % 4 Braganza I AB 10,383,899 10.7 % 5 Pareto Securities AS1 6,749,737 7.0 % 6 DNB Bank ASA1 4,480,666 4.6 % 7 Sb1 Markets AS1 3,624,503 3.7 % 8 DNB Bank ASA1 1,719,696 1.8 % 9 Stena Adactum AB 1,500,000 1.5 % 10 Shb Oslo - Krb Capital AS Sweden1 1,482,582 1.5 % 11 Nordea Bank Abp NUF1 1,221,318 1.3 % 12 Mp Pensjon Pk 1,100,550 1.1 % 13 Pensum Select 981,554 1.0 % 14 W8imy/nqi Luxembourg Branch J.P. Morgan Se1 734,291 0.8 % 15 Vida AS 544,938 0.6 % 16 Jan Kleppe 531,400 0.5 % 17 Försäkringsaktiebolaget Avanza Pension1 512,536 0.5 % 18 Christian Svendsen 335,963 0.3 % 19 Aaron Alberto Leite Dos Ramos 330,000 0.3 % 20 Geir Jørgensen 293,310 0.3 % Top 20 86,482,950 89.4 % Other 10,299,239 10.6 % Total 96,782,189 100.0 % 1) Nominee / broker account. Please note that the shareholder list is based on reported beneficial ownership breakdowns provi ded to Euroclear. In cases where beneficial owners have not been reported, broker accounts may represent multiple underlying owne rs. • Over 4,200 shareholders as of September 30th 2026 • Ticker on Nasdaq Stockholm: LEA • Management holds a total of 1,037,328 shares, corresponding to 1.1% of shares • CEO holds 395,855 shares • Members of the board holds a total of 152,729 shares, corresponding to 0.2% • Board representation covers 40% of the shareholding • Current market capitalization of ~1,300 MSEK | 17
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Polhemsplatsen 5 411 11 Gothenburg Sweden For more information, please visit our investor relations pages ir@leabank.se www.leabank.se