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Bigbank's Unaudited Financial Results for Q3 2025

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Bigbank's total gross loan portfolio was at a record high of 2.58 billion euros,
up 142 million euros (+6%) quarter on quarter and 521 million euros (+25%) year
on year. As usual, the main growth drivers were the strategic product lines of
business loans and home loans. Growth in the consumer loan portfolio was more
modest. During the quarter, the business loan portfolio increased by 74 million
euros (+9%) to 937 million euros, while the home loan portfolio grew by 55
million euros (+8%) to 772 million euros and the consumer loan portfolio by 18
million euros (+2%) to 878 million euros.

The Group's deposit portfolio also increased, mainly through the savings deposit
portfolio, which grew by 85 million euros to 1.4 billion euros (+7%) in the
third quarter. The term deposit portfolio decreased by 11 million euros to 1.3
billion euros during the quarter. In August, Bigbank started offering current
accounts to retail customers in Lithuania. Like Estonian customers, they can now
use Bigbank for everyday payments on the best market terms: available funds earn
interest at the rate of 2% per year and there are no transaction fees.
Customers' current account balances grew by 6 million euros over the quarter,
reaching 9 million euros. The Group's total deposit portfolio grew by 80 million
euros (+3%) quarter on quarter and by 462 million euros (+20%) year on year,
rising to 2.7 billion euros.

Bigbank's net profit for the first nine months of 2025 amounted to 30.2 million
euros. Net profit for the same period in 2024 was 27.6 million euros. In the
third quarter, Bigbank earned a net profit of 11.5 million euros, which is 0.3
million euros less than in the third quarter of 2024 (-2%).

Interest income for the third quarter amounted to 46.5 million euros, an
increase of 0.5 million euros (+1%) year on year. Interest expense remained at
the same level as in the third quarter of last year, because the decline in
deposit rates offset the growth in the deposit portfolio. As a result, Bigbank's
net interest income grew by 0.6 million euros (+2%) year on year, reaching 27.4
million euros.

The quality of the loan portfolio remained stable in the third quarter. Expenses
on the net allowance for expected credit losses and provisions decreased by 0.8
million euros year on year, reaching 2.5 million euros. The credit quality of
consumer loans continues to improve, while that of home loans is very good and
that of business loans is stable. In absolute terms, the volume of stage 3 (non-
performing) loans remained stable quarter on quarter, but their share of the
total loan portfolio fell to 4.4% (-0.3 pp from the end of the previous
quarter). The relatively high proportion of stage 3 loans is mainly due to a
small number of larger loans that are well secured and, therefore, do not
increase expected credit loss expenses.

Bigbank's strong team, which is the driving force behind growing business
volumes, has expanded significantly year on year. Compared to the end of the
second quarter, however, headcount has remained stable. Bigbank had 613
employees at the end of the third quarter: 378 in Estonia, 104 in Lithuania, 90
in Latvia, 22 in Finland, 15 in Bulgaria and 4 in Sweden. Salary expenses for
the third quarter totalled 8.7 million euros, up 1.9 million euros year on year
(+29%).

At the end of the third quarter, the value of the Group's investment property
portfolio stood at 82.3 million euros, an increase of 10 million euros on the
previous quarter. Growth was driven by additional investments of 6.6 million
euros in agricultural land, an increase of 2.0 million euros in the value of the
agricultural land in Estonia and the reclassification of 1.4 million euros of
office space as investment property. The level of transaction prices in the
market rose during the third quarter, prompting a remeasurement of agricultural
land. The increase in portfolio value resulting from the revaluation of
agricultural land was roughly equivalent to the decrease caused by the write-
down of agricultural land in the second quarter.

One bond issue was carried out in the third quarter. In September, Bigbank
issued Additional Tier 1 (AT1) bonds totalling 2.54 million euros, thereby
increasing its Additional Tier 1 capital by the same amount.

On 26 August 2025, an intragroup merger took effect between Balti Võlgade
Sissenõudmise Keskus OÜ (a subsidiary of Bigbank AS and the acquiree) and OÜ
Rüütli Property (a subsidiary of Bigbank AS's subsidiary OÜ Rüütli Majad and the
acquirer). As a result of the merger, Balti Võlgade Sissenõudmise Keskus OÜ was
deleted from the commercial register as of 26 August 2025. As Balti Võlgade
Sissenõudmise Keskus OÜ was inactive, the merger did not bring about any changes
in the Group's operations.


 Income statement, in thousands of euros        Q3 2025 Q3 2024 9M 2025 9M 2024
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 Net interest income                             27,351  26,861  78,687  76,882

 Net fee and commission income                    2,686   2,316   7,759   6,725

 Net income (loss) on financial assets             -851   1,023   1,794   4,101

 Net other operating income                        -704    -974  -2,719  -2,800
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 Total net operating income                      28,482  29,226  85,521  84,908
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 Salaries and associated charges                 -8,763  -6,813 -24,498 -19,576

 Administrative expenses                         -3,255  -2,827  -8,881  -8,781

 Depreciation, amortisation and impairment       -2,239  -2,145  -6,552  -6,297

 Other gains (losses)                             1,999   1,223     217    -106
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 Total expenses                                 -12,258 -10,562 -39,714 -34,760
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 Profit before loss allowances                   16,224  18,664  45,807  50,148
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 Net expected credit loss allowances             -2,426  -4,554  -8,350 -17,085

 Profit before income tax                        13,798  14,110  37,457  33,063

 Income tax expense                              -2,328  -2,371  -7,245  -5,503
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 Profit for the period from continuing
 operations                                      11,470  11,739  30,212  27,560
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 Profit from discontinued operations                  0       0       0      29
-------------------------------------------------------------------------------
 Profit for the period                           11,470  11,739  30,212  27,589
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 Statement of financial
 position, in thousands of
 euros                          30 Sep 2025 30 Jun 2025 31 Dec 2024 30 Sep 2024
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 Cash and cash equivalents          419,470     468,770     448,661     475,284

 Debt securities at FVOCI            34,796      42,508      22,334      14,992

 Loans to customers               2,580,940   2,438,608   2,196,482   2,059,625

 Other assets                       116,779     109,143     110,939      87,126
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 Total assets                     3,151,985   3,059,029   2,778,416   2,637,027
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 Customer deposits and loans
 received                         2,735,153   2,656,328   2,401,689   2,274,269

 Subordinated notes                 106,976     104,147      91,668      83,437

 Other liabilities                   17,511      17,871      15,290      14,585
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 Total liabilities                2,859,640   2,778,346   2,508,647   2,372,291
-------------------------------------------------------------------------------
 Equity                             292,345     280,683     269,769     264,736
-------------------------------------------------------------------------------
 Total liabilities and equity     3,151,985   3,059,029   2,778,416   2,637,027
-------------------------------------------------------------------------------


Compared to the unaudited financial results published for Q3 2024, the net
interest income and the net allowance for expected credit losses for the first
nine months of 2024 have been adjusted, both reduced by 2.2 million euros. The
adjustment is related to an identified error, where interest income from
impaired financial assets had been accrued on the gross exposure of the
financial assets, rather than on net basis. This correction does not impact the
net profit for the first nine months of 2024.

Commentary by Martin Länts, chairman of the management board of Bigbank AS:

The third-quarter financial results confirmed the strength of Bigbank's strategy
- the loan portfolio grew to a record 2.58 billion euros, with business and home
loans contributing the most. Our deposit base continued to grow as we offered
attractive terms to customers. While quarterly profit remained at last year's
level, the nine-month consolidated results are clearly positive. In the third
quarter, we expanded daily banking services to the Lithuanian market, and by the
end of September, Bigbank had over 9,900 customers with a bank account in
Estonia and Lithuania combined. In the next quarter, we plan to start offering
bank account services to customers in Latvia. Overall, we remain focused on
profitable growth and the development of customer-centric solutions.

Bigbank AS (www.bigbank.eu) (https://www.bigbank.eu), with over 30 years of
operating history, is a commercial bank owned by Estonian capital. As of 30
September 2025, the bank's total assets amounted to 3.2 billion euros, with
equity of 292 million euros. Operating in nine countries, the bank serves more
than 177,000 active customers and employs over 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.ee (https://www.bigbank.ee)