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LHV Group results for August 2025

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August was characterised by growth in business volumes, loans, and deposits. LHV
Group's consolidated loan portfolio grew in the monthly comparison by EUR 165
million, reaching EUR 5.2 billion. The volume of deposits grew by EUR 91
million, reaching EUR 7.72 billion. The volume of the funds managed by LHV
increased by EUR 31 million, reaching EUR 1.63 billion. Payments related to
financial intermediaries amounted to EUR 6.96 million in August.

In the same month, AS LHV Group earned EUR 7.9 million in consolidated net
profit. Net profit was earned by all subsidiaries. With regard to subsidiaries,
AS LHV Pank earned EUR 7.4 million, LHV Bank Ltd EUR 0.1 million, AS LHV
Kindlustus EUR 0.2 million, and AS LHV Varahaldus EUR 0.3 million. The return on
equity attributable to shareholders in August was 12.7%.

The number of LHV Pank clients grew by 2,900 in August, reaching a total of
479,000. The company's loan and deposit volumes hit record highs in August. LHV
Pank's loan volumes grew by EUR 108 million, and the volume of the loan
portfolio reached EUR 4.55 billion. The retail loan portfolio grew by EUR 23
million, and the corporate loan portfolio by EUR 85 million. The quality of the
entire loan portfolio remains strong. The volume of deposits increased by EUR
105 million, reaching EUR 6.89 billion. Interest rates on deposits are falling
more slowly than on loans; therefore, net interest income is lower than planned.
Costs remain as planned.

Operating in the United Kingdom, LHV Bank continued to grow its business volumes
in August. Loan volumes increased by EUR 56 million, and the loan portfolio
reached EUR 642 million as at the end of August. More than 400 clients opened an
account, and the volume of direct deposits grew by EUR 13 million to EUR 33
million. In order to reach an optimal loan-to-deposit ratio, deposits decreased
in the monthly comparison by EUR 18 million, and the total volume of deposits
reached EUR 1.04 billion. The development of services continues, with both
direct debits and Easy Access deposits in the pipeline.

LHV Kindlustus signed new insurance contracts in the amount of EUR 2.6 million
in August. As at the end of August, there are approximately 287,000 valid
insurance contracts. Loss events were compensated in the amount of EUR 2.3
million, with 9,700 new loss events registered. The profitability and capital
needs of LHV Kindlustus are outperforming the financial plan.

The funds of LHV Varahaldus demonstrated a good rate of return in August. The
larger funds, Ettevõlik and Julge, rose during the month by 1.6% and 1.5%,
respectively. The rate of return of the funds Tasakaalukas and Rahulik were 1%
and 0.4%, respectively. LHV Pension Fund Index declined 0.2% during the month.
Index funds were negatively affected by the weakening of USD against euro. The
volume of the LHV Varahaldus funds, the number of customers, and net profit is
slightly down.

LHV Group's financial plan remains unchanged. Growth in loans and deposits is as
expected, and the loan quality is good. The negative impact of the fall in
interest rates on the decline in profitability is still ongoing, and the eight-
month net profit result is EUR 0.5 million below the financial plan. However, as
at the end of August, the loan portfolio exceeds the financial plan by EUR 163
million, and the deposit volume by EUR 461 million.

The reports of AS LHV Group are available at the address:
https://investor.lhv.ee/en/reports/ (https://investor.lhv.ee/aruanded).

LHV Group is the largest domestic financial group and capital provider in
Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV
Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the
end of August, LHV's banking services are used by 479,000 clients, the pension
funds managed by LHV have 109,000 active clients, and LHV Kindlustus protects a
total of 177,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a
banking licence in the United Kingdom and provides banking services to
international financial technology companies, as well as loans to small and
medium-sized enterprises.


Investor Relations
Sten Hans Jakobsoo
Head of Investor Relations and Corporate Development
Email: [email protected]
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Communications
Paul Pihlak
Head of Communications
Email: [email protected]
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