Börsiteade

Pealkiri

Changes in the Management Board of Coop Pank AS and in the Supervisory Boards of its Subsidiaries

Teade

The Supervisory Board of Coop Pank AS decided today, on 8 September 2025, to
appoint the current Head of Corporate Banking, Arko Kurtmann, as the new
Chairman of the Management Board of Coop Pank.

Arko Kurtmann's mandate as Chairman of the Management Board will commence on 8
September 2025 and will last for 3 years.

In connection with the appointment of Arko Kurtmann as Chairman of the
Management Board, the Supervisory Board of the bank decided to appoint Lehar
Kütt as the new Head of Corporate Banking and a member of the Management Board.
Lehar Kütt's mandate as a member of the Management Board will also commence on
8 September 2025 and will last for 3 years.

At the same time, Lehar Kütt was appointed as a member of the Supervisory Boards
of Coop Pank AS's subsidiaries: Coop Liising AS and Coop Kindlustusmaakler AS.
Lehar Kütt's mandates as a member of the Supervisory Boards of Coop Pank's
subsidiaries will start on 8 September 2025 and will last for three years.

Chairman of the Supervisory Board of Coop Pank, Rainer Rohtla, stated that Arko
Kurtmann will begin assembling and implementing the bank's strategy for the next
five years together with the team. "To find a new head for the bank, the
nomination committee and the Supervisory Board conducted a thorough selection
process. Arko Kurtmann is a strong leader with long-standing experience in
banking and in building and leading teams. With his personal qualities and a
strong team, Coop Pank will be successfully guided into a new growth period. As
Chairman of the Supervisory Board, I can confirm that Coop Pank has ambitious
goals in the Estonian banking market, and under Arko Kurtmann's leadership, we
will achieve these ambitions by building on our current strengths and developing
new capabilities," said Rohtla.

Arko Kurtmann said that Coop Pank is a business enterprise with 35,000 local
owners. "We are responsible for their assets, not only preserving them but also
growing them.

Our profit has been decreasing for the second consecutive year. This trend needs
to be stopped quickly and profit growth restored. The decline is largely due to
the external interest rate environment, but there is also much we can do
internally. Easier said than done, but our direction is clear - increase
revenues and cut costs.

Coop Pank shares have never been this cheap. Our share price is currently EUR1.9
and trading below book value. In the last 5 years, we have quadrupled our
profit, but the share price has only doubled. Today we are working to double
Coop Pank's profit and thereby increase the bank's value. We believe that this
will also be reflected in the growth of the share price," said Kurtmann.

Arko Kurtmann has been a member of the Management Board and Head of Corporate
Banking at Coop Pank AS since 2020. In addition, he is a member of the
Supervisory Boards of Coop Pank AS's subsidiaries Coop Liising AS and Coop
Kindlustusmaakler AS, and the Chairman of the Supervisory Board of Coop Liising
AS. Arko Kurtmann holds a degree in Economics and Entrepreneurship from the
Estonian University of Life Sciences. Currently, Arko Kurtmann owns 135,600 Coop
Pank AS shares through their company Corby Capital OÜ. An option for 217,600
shares has also been granted to them.

Lehar Kütt has been Head of the Corporate Finance Business Line at Coop Pank AS
since 2021. Previously, among other roles, they served as the Chairman of the
Management Board of KredEx. Lehar Kütt obtained a higher education degree in
Business Administration in 2022 from the Pärnu College of the University of
Tartu. In 2007, he earned a Master's degree in Economics from the University of
Tartu, and in 2019, a Master's degree in Digital Transformation in Enterprises
from Tallinn University of Technology. Currently, Lehar Kütt owns 24,372 Coop
Pank AS shares and has been granted an option for 99,600 shares.

Coop Pank, a bank with Estonian capital, is one of the five universal banks
operating in Estonia. The bank serves 219,300 everyday banking clients. Coop
Pank leverages the synergy between retail and banking to bring financial
services closer to where people live. The bank's strategic owner is Coop Eesti,
a domestic retail chain with a network of 320 stores across the country.

Additional information:
Kristjan Seema
Head of Marketing and Communications
Tel: +372 5505 253
E-mail: [email protected]