Interim report
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1 Quarterly report 3rd quarter 2026
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2 Table of Contents A word from the CEO.............................................................................................................. 5 Financial results for Q3 2026 ................................................................................................ 6 Balance sheet as of Q3 2026 ................................................................................................ 7 Key figures................................................................................................................................ 8 Other information ..................................................................................................................... 9 Consolidated Income Statement ......................................................................................... 11 Balance sheet ........................................................................................................................ 12 Statement of changes in equity ........................................................................................... 12 Note 1 – Accounting principles ........................................................................................... 15 Note 2 – Gross loans and loan loss provisions ................................................................ 16 Note 3 – Subordinated loans ............................................................................................... 18 Note 4 – Capital adequacy .................................................................................................. 19 Note 5 – Liquidity coverage ................................................................................................. 24 Note 6 – Deposits from the public ...................................................................................... 25 Note 7 – Contractual obligations ......................................................................................... 26 Note 8 – Key profitability and equity indicators ................................................................ 27 Note 9 – Largest shareholders as of 30.09.2026 ............................................................. 27 Historical figures .................................................................................................................... 28
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3 Lea Bank • Lea Bank is a leading digital niche bank with an international distribution platform. The Bank’s strategy is to offer attractive terms to customers, leading technological solutions, cost-efficient operations, responsible credit risk management, and optimized capital utilization. • Lea Bank’s roots date back to 2016, when Easybank was founded in Norway. In 2020, Easybank merged with BRAbank, with Easybank as the acquiring entity, creating a stronger foundation for continued growth. Following the merger, the Bank changed its name to Lea Bank, reflecting its ambition to build a modern, scalable, and digital bank with international reach. • Lea Bank offers personal loans, credit cards, and deposit products to the retail market. The Bank conducts lending operations in Sweden, Norway, Finland, and Spain, and offers deposit products in Sweden, Norway, Finland, Germany, Spain, Austria, the Netherlands, and France. • The Bank has a scalable European business model and cloud-based IT solutions, with a strong focus on delivering first-class customer experiences. Through automated processes and user-friendly digital products, Lea Bank has established a strong position among Nordic niche banks. • Lea Bank creates sustainable competitive advantages through data-driven credit decisions. The Bank has developed proprietary credit models and applies risk-based pricing for defined customer segments, enabling efficient risk assessment. • Customer protection and responsible lending are fundamental principles of Lea Bank’s operations. The Bank places emphasis on credit assessments and affordability evaluations, transparency, and regulatory compliance to ensure that credit decisions are made with high quality and in accordance with sound lending practices, while safeguarding the Bank’s long-term financial stability. • Lea Bank’s growth strategy focuses on balancing profitability with disciplined expansion. The Bank aims to generate sustainable earnings and attractive returns for shareholders, while balancing dividend capacity with profitable growth opportunities. • Lea Bank is an independent bank with more than 4,300 shareholders. The Company was listed on Nasdaq First North Premier Growth Market in Stockholm on 9 January 2025. Multitude Bank currently holds just under 30 percent of the shares in the Bank. • Lea Bank has approximately 65 employees, with its headquarters in Gothenburg and offices in Oslo and Bergen, Norway. The organization combines expertise in banking, technology, data analytics, and risk management to support continued development and scalability. • Lea Bank is member of the Swedish deposit guarantee scheme administered by the Swedish National Debt Office (Riksgälden), which provides coverage of up to SEK 1,150,000 per depositor in Sweden and other EU countries. The Bank is also member of the Norwegian deposit guarantee scheme through branch membership, which provides coverage of up to NOK 2,000,000 per depositor in Norway. Lea Bank at a glance
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4 History of the Bank 2016 – Establishment of Easybank in Norway In 2016, the Bank appointed a new management team and raised new capital. A strategic transformation was implemented with a clear focus on consumer lending. This marked the establishment of Easybank. The Bank achieved profitability already in the first quarter of 2017 and, in the following years, was one of the most profitable start-up banks in Norway. 2020 – Merger with BRAbank In 2020, a merger was completed between Easybank and BRAbank. Easybank was the surviving legal entity, while operations continued under the BRAbank brand. Through the merger, the Bank gained access to BRAbank’s established operations in Sweden and Finland, contributing to significant growth in lending volumes and an expanded geographical presence. 2022 – Name Change and Continued International Expansion In 2022, the Bank changed its name to Lea Bank. The name change reflected the ambition to build a modern, scalable, and pan-European digital bank. In the same year, the Bank expanded its lending operations into the Spanish market. 2024–2025 – Redomiciliation to Sweden In 2024, a strategic decision was made to relocate the Bank’s headquarters to Sweden. The Bank obtained a Swedish banking license in June 2024 and commenced operations under a Swedish banking license from 2025. In January 2025, the Bank’s share listing was transferred from Oslo Børs to Nasdaq Stockholm, marking an important step in the Bank’s continued development as a Swedish bank with a European presence.
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5 A word from the CEO Lea Bank delivered another solid quarter. Operating profit was SEK 40.4 million and profit for the period SEK 31.4 million, with total operating income up 17% year-over-year to SEK 204.8 million. Lending demand was strong: gross loans grew by SEK 554 million in the quarter to SEK 10,873 million, which is 20% higher than a year ago. Cost/income ratio was below 30%, highlighting strong cost control. In addition to forward flow sales, we sold non-performing loans in Finland of 20.5 MEUR, which has further derisked the portfolio and reduced the stage 3 ratio. We are also in process of selling NPLs in Sweden. In September we returned to the bond market and raised NOK 80 million in Additional Tier 1 and NOK 120 million in Tier 2 capital. Both issues were priced at the lowest spreads the Bank has achieved to date, at NIBOR + 450 and NIBOR + 400 basis points respectively. This is a clear signal of investors’ confidence in Lea Bank and strengthens our capital base for further growth. The total capital ratio was 17.8% and the CET1 ratio 13.9% (including profit for the year) at quarter-end, and our liquidity position remains strong. We are seeing challenges with elevated churn, mainly in broker-originated loans. In response, we are increasing our focus on direct channel sales. An increasing share of new lending through our direct channel improves customer relationships, and we are working systematically on digital customer journeys and conversion rates. Oddbjørn Berentsen CEO, Lea Bank
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6 Financial results for Q3 2026 Interest income amounted to SEK 257.5 million and net interest income amounted to SEK 172.6 million, compared with SEK 218.7 million and SEK 160.8 million, respectively, for Q3 2025. Net commission income for the quarter amounted to SEK 22.7 million, while net gains/losses from financial transactions and other operating income amounted to SEK 9.5 million, compared with SEK 14.2 million and SEK 0.2 million, respectively, for Q3 2025. The year-over-year increase in net commission income was driven by higher lending volumes and increased revenue from insurance products. Total operating income increased by SEK 29.7 million (17%) year over year, driven by higher net interest income (up SEK 11.8 million), net commission income (up SEK 8.5 million), and net result of financial transactions and other operating income (up SEK 9.4 million). Total operating expenses amounted to SEK 61.1 million, compared with SEK 52.8 million for Q3 2025, an increase of SEK 8.3 million (16%). The increase was mainly driven by general administrative expenses, which rose by SEK 8.6 million (20%) to SEK 51.9 million. Part of the increase reflects the growth in the scale of the business, and part of the cost base is incurred in NOK, which has appreciated against SEK and therefore increased costs when translated into SEK. Year over year, total operating income grew slightly more than total operating expenses (17% versus 16%), which brought the C/I ratio down to 29.8% from 30.1% in Q3 2025. Total operating expenses have stabilized following the re-domiciliation to Sweden, and the C/I ratio is under 30% for the quarter. Profit before credit losses rose by SEK 21.3 million (17%) to SEK 143.7 million, compared with SEK 122.4 million for Q3 2025. Net credit losses amounted to SEK 103.3 million, compared with SEK 80.9 million for Q3 2025, an increase of SEK 22.4 million (28%), against growth in the loan portfolio of 20%. The annualized credit loss level was 3.9% (3.7% in Q3 2025), and net credit losses corresponded to 50% of total operating income (46%). Two factors affected net credit losses in the quarter. The third quarter is normally a seasonally weaker quarter for collection, which reduces recoveries on non-performing loans. The Bank sold non- performing loans in Finland, in addition to sale through two forward flow agreements. As part of a change in principle for NPL sales, the two forward flow agreements will run in parallel during the second half of 2026. Forward flow sales of non-performing loans in Finland will continue in 2027 under the new principle. Gross loans in stage 3 decreased from 16.8% in Q2 2026 to 14.6% in Q3 2026. Operating profit amounted to SEK 40.4 million, compared with SEK 41.5 million for Q3 2025 (down 3%). Profit for the period fell more than operating profit (down 6%, to SEK 31.4 million from SEK 33.3 million), as the effective tax rate was 22.4% compared with 19.7% in Q3 2025.
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7 Balance sheet as of Q3 2026 Lending developed positively during the quarter, with strong demand for personal loans. Gross loans increased by SEK 554 million during the quarter to SEK 10,873 million as of 30 September 2026. The distribution was as follows: SEK 2,569 million in Sweden, SEK 4,095 million in Norway, SEK 3,441 million in Finland, and SEK 768 million in Spain. Gross loans amounted to SEK 9,066 million as of 30 September 2025, representing a year over year growth of 20%. Loan loss provisions amounted to SEK 826 million, corresponding to 7.6% of gross lending, compared with SEK 754 million (8.3%) for Q3 2025. The lower provisioning ratio reflects the sale of non-performing (stage 3) loans in Finland during the quarter, which reduced the stock of credit-impaired loans and the related provisions. The Bank’s total assets amounted to SEK 12,217 million as of 30 September 2026, an increase from SEK 9,751 million as of 30 September 2025. The Bank maintained a strong liquidity position at the end of the quarter, with SEK 2,038 million in liquid assets. Liquidity was invested in certificates, government bonds, and funds invested in covered bonds, as well as with credit institutions. Deposits from customers increased by SEK 478 million during the quarter to SEK 10,343 million as of 30 September 2026. Customer deposits amounted to SEK 8,127 million as of 30 September 2025. The deposit-to-loan ratio amounted to 103%, compared with 98% in Q3 2025. Deposit growth of 27% year over year has been accompanied by higher funding costs. Interest expense increased by SEK 27.0 million (47%) to SEK 84.9 million compared with Q3 2025 . The increase is driven by the higher interest rate level in the market, which has been reflected in the pricing of the Bank’s deposit products. Interest income as a share of gross loans was broadly stable at 10.3% (10.5% in Q3 2025), and the higher funding costs have therefore been a key factor behind net interest income growing more slowly (7%) than lending volumes (20%). Equity amounted to SEK 1,473 million as of 30 September 2026, compared with SEK 1,389 million as of 30 September 2025. No dividend was paid during the third quarter; the Bank paid a dividend of SEK 69.5 million in the second quarter of 2026. In September 2026, the Bank issued NOK 80 million of Additional Tier 1 bonds and NOK 120 million of Tier 2 bonds. Both transactions were completed at the lowest spreads the Bank has achieved to date, at NIBOR + 450 basis points for the Additional Tier 1 bonds and NIBOR + 400 basis points for the Tier 2 bonds. In the same month, NOK 32 million of Additional Tier 1 bonds and NOK 50 million of Tier 2 bonds were called. The total capital ratio (Tier 2) was 16.7%, the Tier 1 capital ratio was 14.5%, and the Common Equity Tier 1 (CET1) ratio was 12.8% at the end of the quarter. The capital adequacy calculation does not include profit for the year. Including profit for the year, the capital ratios would have been 17.8%, 15.6%, and 13.9%, respectively. See Note 4 for information on capital adequacy. The Liquidity Coverage Ratio (LCR) was 538% and the Net Stable Funding Ratio (NSFR) was 127% as of 30 September 2026. The Bank maintained a strong liquidity position at the end of the quarter.
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8 Key figures TSEK Q3 2026 Q3 2025 Net interest income 172,580 160,822 Operating profit 40,413 41,463 Profit for the period 31,372 33,315 Cost/income ratio 29.8 % 30.1 % Credit loss ratio 3.9 % 3.7 % Return on equity (ROE) 9.6 % 10.5 % Adjusted return on equity1 13.3 % 16.8 % Gross loans to the public 10,872,511 9,065,857 Deposits from the public 10,343,041 8,126,777 Capital adequacy ratio (CET1) 12.8 % 15.6 % Capital requirement (CET1) 9.0 % 9.0 % Total capital ratio 16.7 % 18.7 % Total capital requirement 12.9 % 13.1 % Outlook Focus areas going forward are: • Increase customer lifetime value • Increase share of lending origination from direct channels • Reduce NPL exposure The Bank will continue its strategy to be a leading digital niche bank offering consumer finance in attractive geographic markets. Lea Bank conducts lending operations in Sweden, Norway, Finland, and Spain, supported by a scalable international operating model. The objective is to deliver attractive returns to shareholders, high operational efficiency, an inspiring workplace for employees, and first-class customer experience for both customers and partners. 1 Excluding surplus capital above regulatory requirements
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9 Other information Dividend policy Lea Bank aims to deliver financial results that ensure a competitive return on equity for shareholders and to create shareholder value through both dividends and value appreciation. Capital not allocated to growth initiatives may be distributed as cash dividends. When determining the dividend level, the Bank carefully considers its capital position, expected earnings development, future capital requirements, growth targets, regulatory requirements, legal obligations, and strategic objectives. The share The Bank was listed on Nasdaq First North Premier Growth Market in Stockholm on 9 January 2025. The share is traded under the ticker LEA and the ISIN code is SE0023261300. Financial calendar 2026 18.02.2027 – Financial report for Q4 2026 10.03.2027 – Annual Report 2026
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10 Board of Directors’ and CEO’s Declaration The Board of Directors and the Chief Executive Officer certify that this interim report provides a true and fair overview of the development of the Company’s operations, financial position, and results, and describes the significant risks and uncertainties facing the Company. Gothenburg, 21 October 2026. Geir Stormorken Erik Ferm Kristin Krohn Devold Chair of the Board of Directors Board member Board member Henrik Hallin Maria Törngård Oddbjørn Berentsen Board member Board member CEO
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11 Consolidated Income Statement TSEK Note Q3 2026 Q3 2025 2026 YTD Interest income 257,471 218,711 730,159 Interest expense -84,891 -57,890 -233,572 Net interest income 172,580 160,822 496,587 Commission and fee income 24,480 15,430 61,682 Commission and fee expenses -1,790 -1,261 -4,425 Net commission income 22,690 14,169 57,257 Net result of financial transactions 9,049 1,208 30,261 Other operating income 497 -1,057 1,565 Total operating income 204,816 175,141 585,671 General administrative expenses -51,923 -43,335 -148,958 Depreciation, amortisation and impairment of tangible and intangible assets -6,367 -5,850 -18,625 Other operating expenses -2,806 -3,565 -10,759 Total operating expenses -61,097 -52,750 -178,341 Profit before credit losses 143,720 122,391 407,329 Net credit losses 2 -103,306 -80,928 -283,431 Operating profit 40,413 41,463 123,898 Tax expense on profit for the period -9,041 -8,148 -27,943 Net profit for the period 31,372 33,315 95,955 Earnings per share (SEK) 0.32 0.35 0.99 Diluted earnings per share (SEK) 0.29 0.32 0.89 Total comprehensive income Net profit for the period 31,372 33,315 95,955 Other comprehensive income -5,559 0 -8,588 Total comprehensive income for the period 25,813 33,315 87,367
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12 Balance sheet TSEK Note 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 2 10,046,546 8,311,498 8 511 134 Bonds and other interest-bearing securities 1,227,308 701,366 727 707 Shares and units2 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 6 10,343,041 8,126,777 8 585 160 Other liabilities 7 187,734 106,610 129 289 Subordinated liabilities 3 213,146 128,763 124 940 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 4,8,9 1,472,935 1,388,562 1 400 141 Total liabilities and equity 12,216,856 9,750,712 10 239 530 Statement of changes in equity TSEK Restricted equity Unrestricted equity Total Share capital Restricted reserve for development expenses Translation reserve Retained earnings Profit for the year Tier 1 capital Equity per 30.06.2026 193,565 74,185 -3,029 963,258 64,583 104,084 1,396,645 Share based remuneration - - Dividend - - Changes Tier 1 capital -2,291 52,768 50,477 Restricted reserve for development expenses -6,417 6,417 - Net profit for the period 31,372 31,372 Other comprehensive income -5,559 -5,559 Equity per 30.09.2026 193,565 67,768 -8,588 967,384 95,955 156,852 1,472,935 2 Shares and units relate to fund units held as part of the Bank’s liquidity portfolio.
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13 Cash flow statement TSEK 2026 YTD FY 2025 Cash flow from operating activities Operating profit 123,898 146,992 Adjustments for non-cash items Depreciation of property, plant and equipment and intangible assets 18,625 23,342 Result from financial transactions Other non-cash items -44,418 27,933 Changes in working capital: Change in lending to the public -1,535,413 -1,500,454 Change in deposits from the public 1,757,881 1,276,192 Change in other accruals and deferrals Payments certificates and bonds -1,392,196 -1,680,582 Sale of certificates and bonds 1,106,661 1,237,449 Cash flow from operating activities 35,037 -469,127 Cash from investing activities Payments for investments in fixed assets -229 3,835 Payments for investments in intangible assets -10,148 -7,802 Payments for subsidiary -3,556 Merger 662,628 Cash flow from investing activities -10,377 655,105 Cash flow from financing activities New share issue 1,621 909 Shareholder contributions 1,215 Lease payments -4,852 -5,748 Proceeds from long-term borrowings 83,335 47,970 Repayment of long-term borrowings Repayment of Additional Tier 1 instruments -33,366 Interest paid on Additional Tier 1 instruments -8,834 -8,587 Proceeds from subordinated loans (Tier 2) 125,002 67,158 Repayment of subordinated loans (Tier 2) -51,053 -14,130 Interest paid on subordinated loans (Tier 2) -9,825 -10,007 Dividends paid to shareholders -69,512 -171,932 Cash flow from financing activities 33,731 -94,367 Cash flow for the period 58,391 91,611
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14 Cash and cash equivalents at the start of the period 307,419 254,131 Exchange rate differences on cash and cash equivalents 10,484 -38,323 Cash and cash equivalents at the end of the period 376,294 307,419 Interest received is presented as cash flows from operating activities Paid interest 243,823 253,563 Interest received 869,951 999,789 Composition of cash and cash equivalents Loans and deposits with credit institutions 376,294 307,419
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15 Note 1 – Accounting principles The interim report was approved by the Board of Directors of Lea Bank AB on 21 October 2026. Company information Lea Bank AB, corporate registration number 559465-8196, is domiciled in Sweden with its head office at Polhemsplatsen 5, SE-411 11 Gothenburg. The Bank operates a branch, Lea Bank AB NUF, corporate registration number 934 648 870, domiciled in Norway with its address at Holbergs gate 21, 0166 Oslo. The branch has locally employed staff and conducts operations offering lending and deposit products in the Norwegian market. The quarterly report has been prepared in accordance with the same accounting principles as those applied in the 2025 Annual Report. For a more detailed description, please refer to the Annual Report, which is available on the Bank’s IR pages.
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16 Note 2 – Gross loans and loan loss provisions 2.1 Gross loans, undrawn credit lines, and expected credit losses 30.09.2026 Gross loans Loan loss provisions (ECL) Net loans TSEK Gross loans Of which agent- comm/ fees Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Consumer loans Norway 4,095,021 107,499 3,314,638 340,080 440,303 4,095,021 38,237 27,516 137,967 203,720 3,276,402 312,564 302,336 3,891,302 Finland 3,440,949 66,516 2,801,682 202,136 437,131 3,440,949 33,001 21,265 120,974 175,240 2,768,681 180,871 316,157 3,265,710 Sweden 2,568,752 65,105 1,949,196 46,012 573,544 2,568,752 26,933 9,106 290,278 326,317 1,922,262 36,907 283,266 2,242,435 Spain 767,788 13,926 619,503 10,435 137,850 767,788 22,006 4,897 93,785 120,688 597,497 5,538 44,065 647,100 Total 10,872,511 253,046 8,685,019 598,663 1,588,828 10,872,511 120,177 62,783 643,004 825,964 8,564,842 535,880 945,824 10,046,546 2.2 Specification of loan losses in the period TSEK Q3 2026 Loan loss provisions - 12 months expected credit loss (stage 1) 11,831 Loan loss provisions - lifetime expected credit loss (stage 2) 8,528 Loan loss provisions - lifetime expected credit loss (stage 3) -73,914 Realized losses and NPL-interest in the period 156,862 Loans losses in the period 103,306 2.3 Gross loan, off-balance and maximum exposure by risk class - 30.09.2026 Risk class, amounts in TSEK Probability of default Gross book value Maximum exposure Max. exposure stage 1 Max. exposure stage 2 Max. exposure stage 3 A 0 - 10 % 7,910,010 8,649,595 8,552,040 97,555 - B 10 - 20 % 845,910 845,910 706,875 139,034 - C 20 - 30 % 231,817 231,817 104,861 126,957 - D 30 - 40 % 115,203 115,203 27,414 87,789 - E 40 - 50 % 63,872 63,872 11,992 51,880 - F 50 - 60 % 41,500 41,500 3,956 37,544 - G 60 - 70 % 21,219 21,219 1,004 20,214 - H 70 - 80 % 8,680 8,680 - 8,680 - I 80 - 90 % 28,972 28,972 - 28,972 - J 90 - 100 % 16,501 16,501 - 16,501 - Defaulted loans 100 %* 1,588,828 1,588,828 - - 1,588,828 Total 10,872,511 11,612,095 9,408,141 615,126 1,588,828 Risk classes are grouped by probability of default (12-month PD) into groups from A to J, where group A is the group with the lowest risk and group J is the group with the highest risk. Defaulted loans are separated into their own group.
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17 2.4 Changes in loan loss allowance and gross loans Reconciliation of gross loans TSEK Stage 1 Stage 2 Stage 3 Total Gross loans as at 01.07.2026 8,120,489 461,849 1,736,174 10,318,512 Transfers - transfer from stage 1 to stage 2 -356,122 356,122 - - - transfer from stage 1 to stage 3 -65,558 - 65,558 - - transfer from stage 2 to stage 3 - -144,584 144,584 - - transfer from stage 3 to stage 2 - 23,620 -23,620 - - transfer from stage 2 to stage 1 84,887 -84,887 - - - transfer from stage 3 to stage 1 26,188 - -26,188 - New financial assets originated 1,780,739 8,840 - 1,789,579 Derecognised financial assets (repayments and write-offs) -703,960 - 32,491 -317,898 -1,054,349 Partial repayments and other adjustments -453,873 -12,825 -24,399 -491,097 Currency effects 252,229 23,020 34,617 309,866 Change in model or risk parameters - - - - Other adjustments - - - - Gross loans as at 30.09.2026 8,685,019 598,663 1,588,828 10,872,511 - Of which gross loans with forbearance - 913 29,012 29,925 Reconciliation of total expected credit loss TSEK Stage 1 Stage 2 Stage 3 Total Loss allowance as at 01.07.2026 108,346 54,256 716,918 879,520 Transfers - transfer from stage 1 to stage 2 -18,091 64,978 - 46,887 - transfer from stage 1 to stage 3 -60 - 583 523 - transfer from stage 2 to stage 3 - -39,186 62,654 23,468 - transfer from stage 3 to stage 2 - 2,224 -2,262 -37 - transfer from stage 2 to stage 1 7,591 -24,842 - -17,251 - transfer from stage 3 to stage 1 1,285 - -4,085 -2,800 New financial assets originated 24,453 - - 24,453 Derecognised financial assets (repayments and write-offs) -7,867 -2,653 -116,810 -127,330 Change in measurement* 1,347 6,340 -24,825 -17,138 Currency effects 3,172 1,666 10,832 15,670 Change in model or risk parameters - - - - Other adjustments - - - - Loss allowance as at 30.09.2026 120,177 62,783 643,004 825,964 *change in PD, LGD or EAD and 12 months vs lifetime horizon
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18 As of 30.09.2026 Stage 3 Total Purchased or originated credit-impaired (POCI): Gross loans 41,549 41,549 Impairment of loan 34,286 34,286 Net loans to customers 7,263 7,263 2.5 Macro Scenario Sensitivity on ECL - 30.09.2026 TSEK ECL reported under IFRS 9 Base Scenario (34-40 %) Optimistic Scenario (30-33 %) Pessimistic Scenario (30-33 %) Total 825,964 802,423 733,670 947,584 Consumer loans 825,964 802,423 733,670 947,584 Norway 203,720 195,751 173,230 244,834 Consumer loans 203,720 195,751 173,230 244,834 Finland 175,240 168,433 150,226 207,266 Consumer loans 175,240 168,433 150,226 207,266 Sweden 326,317 320,938 303,403 356,404 Consumer loans 326,317 320,938 303,403 356,404 Spain 120,688 117,301 106,812 139,081 Consumer loans 120,688 117,301 106,812 139,081 Expected credit losses reported under IFRS 9 are macro-weighted. The following weights are used for the three scenarios: Finland: base scenario (34%), optimistic scenario (33%), and pessimistic scenario (33%). Norway, Sweden and Spain: base scenario (40%), optimistic scenario (30%), and pessimistic scenario (30%). Note 3 – Subordinated loans Subordinated loans as of 30.09.2026 ISIN Nominal value Currency Interest Reference- interest + margin Due date Book value TSEK NO0012750803 18,000 NOK Floating NIBOR + 575bp 09.02.33 18,662 NO0013585422 70,000 NOK Floating NIBOR + 550bp 17.12.35 71,941 NO0013770164 120,000 NOK Floating NIBOR + 400bp 17.03.37 122,543 Total subordinated loans 208,000 213,146
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19 Note 4 – Capital adequacy Background This information regarding Lea Bank’s capital adequacy has been prepared in accordance with the provisions of Chapter 6, Sections 3–4 of the Swedish Financial Supervisory Authority’s (Finansinspektionen) regulations and general guidelines (FFFS 2008:25) on annual reports in credit institutions and securities companies. It also complies with the rules set out in Part Eight of the European Parliament and Council Regulation (EU) No. 575/2013, as well as Cha pter 8, Section 1 of FFFS 2014:12 concerning supervisory requirements and capital buffers. Lea Bank AB is a financial institution under the supervision of Finansinspektionen and is therefore subject to the Swedish regulatory framework for credit institutions. According to Article 4.1.145 of Regulation (EU) No. 575/2013, the bank is classified as a small and non-complex institution. The legal framework governing the determination of the bank’s statutory capital requirements includes, among others, the Act (2014:968) on special supervision of credit institutions and securities companies, Regulation (EU) No. 575/2013, the Act (2014:966) on capital buffers, and FFFS 2014:12. Capital Base The bank’s capital base consists of shareholders’ equity and issued bonds. The equity, adjusted for regulatory purposes, constitutes the Common Equity Tier 1 capital. The bonds are classified as Additional Tier 1 capital or Tier 2 capital. These bonds are subordinated to other creditors, and some of them may be converted into share capital under specific conditions. Risk Exposure The bank’s total risk exposure amount is primarily made up of credit risk and operational risk. Credit risk is calculated using the standardised approach, where exposures are weighted based on percentages outlined in Regulation (EU) No. 575/2013. The capital requirement for operational risk is calculated in accordance with Article 312, Regulation (EU) No 575/2013. Capital Requirements and Pillar 2 Guidance Under Pillar 1, the capital base must amount to at least 8% of the risk-weighted exposure amount. In addition, further capital requirements apply for risks not covered under Pillar 1, such as concentration risk and market risk, which are addressed under Pillar 2. The bank is also required to hold capital for a capital conservation buffer of 2.5%, as well as a countercyclical buffer depending on its geographical exposure. Internally Assessed Capital Needs At least once a year, Lea Bank conducts a review to ensure that its capital and liquidity projections are sufficient to cover the risks the bank is, or may become, exposed to over the next three years. This process is referred to as the Internal Capital and Liquidity Assessment Process (ICLAAP) and is carried out in accordance with Article 73 of EU Directive 2013/36. Capital adequacy target Lea Bank’s aim is that all capital ratios should exceed the regulatory requirement (including pillar 2 and buffer requirements) by at least 2.5 %.
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20 TSEK 30.09.2026 Common Equity Tier 1 capital (CET-1) 1,112,324 Tier 1 capital instruments 147,381 Tier 2 capital instruments 196,508 Own funds 1,456,214 Risk exposure amount 8,704,533 - of which: credit risk 8,277,489 - of which: credit valuation adjustment risk 1,777 - of which: operational risk 425,268 Capital ratios CET-1 capital ratio, % 12.78 % Tier 1 capital ratio, % 14.47 % Total capital ratio, % 16.73 %
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21 TSEK 30.09.2026 Amount %¹ Capital requirement under pillar 1 CET-1 capital 391,704 4.5 % Tier 1 capital 522,272 6.0 % Total capital 696,363 8.0 % Capital requirement under pillar 2 CET-1 capital 50,440 0.6 % Tier 1 capital 67,253 0.8 % Total capital 89,671 1.0 % - of which, concentration risk 82,683 0.9 % - of which, other risk 6,988 0.1 % Total capital requirement under pillar 1 and pillar 2 CET-1 capital 442,144 5.1 % Tier 1 capital 589,525 6.8 % Total capital 786,034 9.0 % Institution-specific buffer requirement Total buffer requirement 340,759 3.9 % - of which, capital conservation buffer 217,613 2.5 % - of which, countercyclical buffer 123,145 1.4 % Total capital requirement including buffer requirement CET-1 capital 782,903 9.0 % Tier 1 capital 930,284 10.7 % Total capital 1,126,793 12.9 % Pillar 2 Guidance CET-1 capital 0 0.0 % Total need for capital including Pillar 2 Guidance CET-1 capital 782,903 9.0 % Tier 1 capital 930,284 10.7 % Total capital 1,126,793 12.9 % 1) Capital requirements expressed as a percentage of the risk exposure amount.
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22 TSEK 30.09.2026 CET-1 capital Share capital 193,564 Other reserves 0 Retained earnings 1,026,564 Adjustments to CET-1 capital: - Deduction of foreseeable costs and dividends¹ 0 - Intangible assets² -67,768 - Current tax asset -6,849 - Prudential Valuation Adjustment (PVA) -1,675 - Insufficient coverage for non-performing exposures³ -31,512 Total CET-1 capital 1,112,324 Tier 1 capital instruments Perpetual subordinated loan 147,381 Tier 2 capital instruments Fixed term subordinated loans 196,508 Own funds 1,456,214 1) Deduction of dividends have been made in accordance with the Board of Directors’ proposal to the Annual General Meeting and the dividend policy for interim results 2) Deduction according to Commission Delegated Regulation (EU) 2020/2176. 3) Deduction according to Regulation (EU) No 2019/630.
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23 30.09.2026 TSEK Risk exposure amount Capital requirement 8% Credit risk under the standardised approach Corporate exposures 0 0 Household exposures 6,656,498 532,520 Exposures secured by mortgages on immovable property 0 0 Exposures in default 907,250 72,580 Exposures to institutions 169,895 13,592 Equity exposures 13,369 1,070 Other items 530,476 42,438 Total 8,277,489 662,199 Credit valuation adjustment Simplified approach 1,777 142 Total 1,777 142 Market risk Foreign exchange rate risk 0 0 Total 0 0 Operational risk BIC Approach 425,268 34,021 Total 425,268 34,021 Total risk exposure amount and total capital requirement 8,704,533 696,363
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24 Note 5 – Liquidity coverage Background Information about the Bank’s liquidity coverage in this document includes information in accordance with Chapter 5, Section 9 of the Swedish FSA’s regulations and general guidelines (FFFS 2010:7) on publication of information on liquidity risk. Information on regulatory liquidity requirements in this document refers to information set out in Part Six of Regulation (EU) No 575/2013. Liquidity reserve In accordance with FFFS 2010:7, a responsible institution is required to keep a separate reserve of high-quality liquid assets that can be used to secure short-term solvency in the event of the loss or deterioration of access to normally available funding sources. Lea Bank's available liquidity reserve consists of treasury bills, government bonds, securities issued by municipalities, other interest -bearing securities, units in funds invested in covered bonds, cash at central banks and loans to credit institutions. Only amounts that are available the following day are counted in the available liquidity reserve. Sources of financing Lea Bank's main source of financing is deposits from the public. Deposits are only from the household sector and 99 % is covered by a government deposit guarantee scheme. The other sources of financing are subordinated debt, additional Tier 1 capital instruments and equity attributable to the shareholders. TSEK 30.09.2026 30.09.2025 Liquidity reserve Securities issued by sovereigns 277,916 339,378 Securities issued by municipalities 207,131 155,424 Bonds and other interest-bearing securities 742,261 206,564 Shares and units 434,257 188,797 Total liquidity reserve 1,661,566 890,162 Other available liquidity reserve Cash and balances with central banks 15,491 0 Loans to credit institutions 360,803 408,389 Total other available liquidity reserve 376,294 408,389 Total available liquidity reserve 2,037,860 1,298,552 Sources of financing Deposits from the public 10,343,041 8,126,777 Subordinated liabilities 213,146 128,763 Tier 1 capital instrument 156,852 97,967 Equity attributable to shareholders 1,316,083 1,290,595 Total sources of financing 12,029,122 9,644,102 Key figures Available liquidity reserve / Deposits from the public 20 % 16 % Liquidity coverage ratio 538 % 690 % Net stable funding ratio 127 % 121 %
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25 Regulatory liquidity requirements TSEK 30.09.2026 30.09.2025 Key figures Liquidity coverage ratio 100 % 100 % Net stable funding ratio 100 % 100 % Note 6 – Deposits from the public TSEK 30.09.26 31.12.25 SEK 2,125,089 1,599,420 NOK 4,157,682 3,455,163 EUR 4,060,269 3,530,577 Total deposits from the public 10,343,041 8,585,160 Changes in deposits from the public 30.09.26 31.12.25 Opening balance 8,585,160 7 308 968 Changes 1,099,317 1 650 508 Exchange rate changes 658,564 -374 316 Closing balance 10,343,041 8 585 160
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26 Note 7 – Contractual obligations Q3 2026 Q3 2025 TSEK Right to use Opening balance 7,791 13,034 Implementation effect Assets Write-downs Adjustments 342 Depreciation -1,392 -1,314 Disposals Closing balance 6,741 11,720 Opening balance -8,037 -13,246 Implementation effect Assets Effect of changes in exchange rates Adjustments -342 Lease payments 1,512 1,428 Interest -76 -126 Settlement upon disposal Closing balance -6,943 -11,945 Proportion of short-term debt -5,763 -5,436 Proportion of long-term debt -1,388 -6,202
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27 Note 8 – Key profitability and equity indicators TSEK Equity per 30.09.2026* 1,316,083 Profit before tax Q3 2026 40,413 Profit after tax Q3 2026 31,372 Number of shares 30.09.26 (in thousands) 96,782 Book equity per share as of 30.09.26* 13.60 Earnings per share before tax Q3 2026 0.42 Earnings per share after tax Q3 2026 0.32 Earnings per share before tax YTD 2026 1.28 Earnings per share after tax YTD 2026 0.99 Annualized return on equity Q3 2026 9.6 % Annualized return on equity 2026 YTD 9.7 % Adjusted return of equity** Q3 2026 13.3 % * Excluding tier 1 capital ** Excluding excess equity to regulatory requirements Note 9 – Largest shareholders as of 30.09.2026 Name # of 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 account Note: CEO Oddbjørn Berentsen holds 395,855 shares
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28 Historical figures Income Statement (Amounts in TSEK) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Interest income 198,850 206,466 218,711 226,226 231,224 241,464 257,471 Interest expense -62,125 -59,255 -57,890 -60,624 -70,585 -78,096 -84,891 Net interest income 136,725 147,212 160,822 165,602 160,639 163,368 172,580 Commission and fee income 12,209 10,108 15,430 16,399 17,717 19,484 24,480 Commission and fee expenses -1,245 -1,003 -1,261 -1,707 -1,263 -1,373 -1,790 Net commission income 10,964 9,105 14,169 14,692 16,455 18,112 22,690 Net result of financial transactions 7,834 859 1,208 -582 10,824 10,389 9,049 Other operating income 585 803 -1,057 732 587 481 497 Total operating income 156,109 157,978 175,141 180,444 188,504 192,350 204,816 General administrative expenses -47,135 -46,117 -43,335 -43,457 -49,559 -47,476 -51,923 Depreciation, amortisation and impairment of tangible and intangible assets -5,671 -5,703 -5,850 -6,119 -6,123 -6,134 -6,367 Other operating expenses -3,669 -2,765 -3,565 -3,651 -3,765 -4,188 -2,806 Total operating expenses -56,475 -54,584 -52,750 -53,226 -59,447 -57,798 -61,097 Profit before credit losses 99,634 103,394 122,391 127,218 129,057 134,552 143,720 Net credit losses -71,958 -69,563 -80,928 -83,198 -88,656 -91,469 -103,306 Operating profit 27,676 33,832 41,463 44,020 40,401 43,083 40,413 Tax expense on profit for the period -6,590 -5,484 -8,148 -11,638 -9,030 -9,872 -9,041 Net profit for the period 21,086 28,348 33,315 32,383 31,372 33,211 31,372 Balance sheet (Amounts in TSEK) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Assets Cash and deposits with the central bank 15,743 15,491 Loans to credit institutions 849,095 747,442 408,389 307,419 355,613 363,834 360,803 Gross loans 7,889,586 8,461,206 9,065,857 9,336,320 9,770,394 10,318,512 10,872,511 Loan loss provisions -634,286 -705,615 -754,359 -825,186 -814,133 -879,520 -825,965 Loans to the public 7,255,300 7,755,591 8,311,498 8,511,134 8,956,262 9,438,992 10,046,546 Bonds and other interest-bearing securities 139,709 651,900 701,366 727,707 1,203,876 1,105,414 1,227,308 Shares 737,687 199,371 188,797 553,934 498,549 507,758 434,257 Current tax assets 24,563 19,966 11,919 8,958 8,958 6,849 6,849 Intangible assets 73,349 76,210 75,069 72,042 70,716 70,036 67,768 Fixed assets 16,410 15,132 13,571 12,124 10,641 9,191 7,982 Other assets 31,474 66,578 40,105 46,213 42,530 30,665 49,850 Total assets 9,127,587 9,532,190 9,750,712 10,239,530 11,147,146 11,548,483 12,216,856 Equity and liabilities Deposits from the public 7,479,011 7,936,104 8,126,777 8,585,160 9,439,032 9,864,966 10,343,041 Other liabilities 106,811 106,378 106,610 129,289 142,165 152,610 187,734 Subordinated liabilities 80,177 132,350 128,763 124,940 133,488 134,262 213,146 Total liabilities 7,666,000 8,174,833 8,362,151 8,839,390 9,714,684 10,151,838 10,743,921 Share capital 191,035 191,035 191,944 191,944 193,090 193,564 193,564 Retained earnings 1,196,421 1,016,516 1,015,902 998,013 1,106,443 1,036,355 1,026,564 Tier 1 capital 53,046 100,372 97,967 95,052 101,557 102,143 156,852 Net profit for the year 21,086 49,434 82,749 115,131 31,372 64,583 95,955 Total equity 1,461,587 1,357,357 1,388,562 1,400,141 1,432,461 1,396,645 1,472,935 Total liabilities and equity 9,127,587 9,532,190 9,750,712 10,239,530 11,147,146 11,548,483 12,216,856
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29 Polhemsplatsen 5 411 11 Göteborg Sverige ir@leabank.se