Market announcement

Title

Bigbank AS Results for November 2025

Message

November was characterised by growth in strategic loan products and term
deposits, a decrease in the share of non-performing loans, and satisfactory
profitability.

The loan portfolio grew by 25 million euros during the month, reaching 2.6
billion euros by the end of November. Growth was driven by business loans, which
increased by 33 million euros, and home loans, which grew by 14 million euros.
The consumer loan portfolio decreased by 22 million euros. A significant part of
this decline was due to the sale of the entire loan portfolio of the Swedish
branch to another Swedish credit institution on 6 November 2025. As a result of
the transaction, Bigbank's Swedish branch will continue to operate solely as a
deposit-taking entity.

The deposit portfolio increased by 32 million euros in November. Deposit
interest rates have started to rise slightly in the markets, in line with the
recent modest upward movement of Euribor. This has particularly affected
interest rates on longer-term deposits and increased customer demand for them.
Growth in the deposit portfolio was mainly driven by term deposits, which grew
by 28 million euros, while the savings deposit portfolio increased by 1 million
euros.

In all Baltic countries, Bigbank customers can use market-leading current
accounts for everyday banking: clients earn 2% annual interest on idle funds,
and all transactions are free of charge. The total balance of current accounts
grew by 3 million euros in November, reaching 16 million euros by the end of the
month.

The stabilising interest rate environment continues to reduce pressure on net
interest income. As time goes on, loan portfolio growth increasingly drives
year-on-year interest income comparisons, while the impact of falling interest
rates diminishes. Net interest income increased by 2.3 million euros over the
first eleven months compared to the previous year.

Compared to the first eleven months of 2024, net allowances for expected credit
losses and provision expenses decreased by a total of 9.5 million euros, or
47%. The main reason for this improvement has been better payment behaviour in
consumer loans across all three Baltic countries.

The share of non-performing loans (Stage 3) decreased from 4.5% at the end of
October to 4.2%. The sale of the Swedish branch's loan portfolio made a
significant contribution to this reduction in November.

Net profit for November was 2.7 million euros. In addition to the growth in net
interest income and the reduction in credit losses, net fee income increased by
1.4 million euros over the eleven-month period.

At the end of November, Bigbank employed 631 people. Team expansion and salary
growth resulted in a 6.4 million euro increase in salary expenses over the first
eleven months compared to the previous year. As a negative development, income
tax expenses rose by 1.7 million euros due to higher tax rates introduced in
Estonia and Lithuania at the beginning of 2025.

Bigbank's key financial indicators for November 2025:

  * Customer deposits and loans received increased by 439 million euros year-on-
    year, reaching 2.8 billion euros (+18%).
  * Loans to customers grew by 497 million euros year-on-year, reaching 2.6
    billion euros (+23%).
  * Net interest income totalled 8.6 million euros in November; the eleven-month
    total reached 96.7 million euros. Compared to the same period last year, net
    interest income increased by 2.3 million euros (+2%).
  * Net allowance for expected credit losses and provision expenses totalled
    10.9 million euros in the first eleven months of the year, down 9.5 million
    euros or 47% year-on-year.
  * Net profit in November was 2.7 million euros. Cumulative profit for the
    first eleven months amounted to 36.0 million euros, an increase of 2.6
    million euros or 8% compared to the same period in 2024.
  * Return on equity in November was 11.0%.

 Income Statement
 (in thousands of                      11 months     11 months   Year-on-Year
 euros)              November 2025          2025          2024    Difference
-------------------------------------------------------------------------------
 Total net operating
 income, incl.               9,111       104,977       103,415   1,563      +2%

 Net interest income         8,575        96,687        94,425   2,262      +2%

 Net fee and
 commission income             904         9,685         8,335   1,350     +16%

 Total expenses,
 incl.                      -4,924       -49,498       -42,703  -6,796     +16%

 Salaries and
 associated charges         -3,207       -30,825       -24,377  -6,448     +26%

 Administrative
 expenses                   -1,097       -11,095       -10,663    -431      +4%

 Profit before loss
 allowances                  4,187        55,479        60,712  -5,233      -9%

 Net allowance for
 expected credit
 losses and
 provision expenses           -838       -10,893       -20,431   9,538     -47%

 Income tax expense           -619        -8,593        -6,872  -1,721     +25%

 Profit for the
 period from
 continuing
 operations                  2,730        35,993        33,409   2,584      +8%

 Profit or loss
 before tax from
 discounted
 operations                      0             0            29     -29
-------------------------------------------------------------------------------
 Profit for the
 period                      2,730        35,993        33,438   2,555      +8%
-------------------------------------------------------------------------------




 Business Volumes
 (in thousands of                      11 months     11 months   Year-on-Year
 euros)              November 2025          2025          2024    Difference
-------------------------------------------------------------------------------
 Customer deposits
 and loans received      2,811,878     2,811,878     2,372,949 438,929     +18%

 Loans to customers      2,645,110     2,645,110     2,148,452 496,657     +23%



 Key figures                           11 months     11 months   Year-on-Year
                     November 2025          2025          2024    Difference
-------------------------------------------------------------------------------
 ROE                         11.0%         13.8%         14.1%  -0.3pp

 Cost / income ratio
 (C/I)                       54.0%         47.2%         41.3%  +5.9pp

 Net promoter score
 (NPS)                          57            59            57      +2


Compared to the financial results published for November 2024, the net interest
income and net allowance for expected credit losses for the same period last
year have been adjusted, reducing both by 2.8 million euros. The adjustment is
related to an identified error, where interest income from impaired financial
assets had been calculated based on the gross position of the assets rather than
on a net basis. This correction does not impact the net profit for November
2024.

Bigbank AS (www.bigbank.eu (http://www.bigbank.eu)), with over 30 years of
operating history, is a commercial bank owned by Estonian capital. As of 30
November 2025, the bank's total assets amounted to 3.2 billion euros, with
equity of 298 million euros. Operating in nine countries, the bank serves over
176,000 active customers and employs more than 600 people. The credit rating
agency Moody's has assigned Bigbank a long-term bank deposit rating of Ba1,
along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

Argo Kiltsmann
Member of the Management Board
Telephone: +372 5393 0833
Email: [email protected] (mailto:[email protected])
www.bigbank.eu (http://www.bigbank.eu)