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LHV Group results for October 2025

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The results of LHV Group in October were characterised by continued growth in
business volumes. The consolidated loan portfolio of LHV Group increased by EUR
49 million in the monthly comparison to EUR 5.28 billion. Deposits increased by
EUR 47 million to EUR 7.50 billion. The volume of the funds managed by LHV
increased by EUR 38 million, to EUR 1.66 billion. Payments related to financial
intermediaries amounted to 8.1 million in October.

In October, AS LHV Group earned a consolidated net profit of EUR 8.9 million.
Among subsidiaries, AS LHV Pank earned EUR 9.5 million, AS LHV Varahaldus EUR
0.2 million, and AS LHV Kindlustus EUR 0.1 million. LHV Bank Ltd incurred a net
loss of EUR 0.3 million in October. In October, the return on equity
attributable to the shareholders was 13.5%.

The number of LHV Pank customers increased by 3,400 in October, reaching a total
of 486,000. Loan volumes increased by EUR 37 million and the volume of the loan
portfolio reached EUR 4.61 billion. The loan portfolio of private individuals
increased by EUR 26 million, while the corporate loan portfolio increased by EUR
11 million. The quality of the total loan portfolio remains strong. Deposit
volume dropped by EUR 39 million, reaching EUR 6.60 billion. The decline in
deposits was related to the decline in both larger depositors and platform
deposits. The average interest rate on the loan portfolio turned upwards. At the
same time, the decline in deposits continues. The costs were in line with the
plan for October, with slightly higher than planned labour costs and sales-
related marketing expenses.

Operating in the United Kingdom, LHV Bank continued to grow its business volumes
in October. Loan volumes increased by EUR 13 million and the loan portfolio
reached EUR 673 million as at the end of October. At the same time, there are
loans approved by the credit committee but not yet issued in the value of EUR
224 million. Deposits increased by EUR 76 million month-on-month and total
deposits amounted to EUR 1.08 billion. More than 400 clients opened an account
and the volume of direct deposits increased by EUR 14 million, to EUR 46
million. Direct debits were added and Easy Access deposits are being developed.
In mid-November, a new broader communication and marketing campaign began. The
process of joining the fourth deposit platform started. The loss in October was
caused by the change in the value of derivatives concluded with LHV Pank.

In October, LHV Kindlustus concluded new insurance contracts in the amount of
EUR 4.1 million. As at the end of October, there are approximately 293,000
insurance contracts in force. Loss events were reimbursed in the amount of EUR
2.4 million and 13,500 new loss events were recorded. The profitability of
insurance remains at a good level.

October was a very strong month on the stock markets as a whole. The largest
asset management funds of LHV Varahaldus - Ettevõtlik and Julge increased by
1.0 % and 1.6 %, respectively, over the month. The rate of return of the funds
Tasakaalukas and Rahulik were 0.9% and 0.7%, respectively. LHV pension fund
Indeks rose 4.6% over the month. Sales have been somewhat more modest than
expected, with the volume of funds and operating income slightly behind the plan
as a result. In the second half of October, the pension investment account
product and price list were updated - from now on, the solution is by far the
most favourable, almost a twice as cheap way compared to other funds to invest
the assets of the second pillar passively through indices.

LHV Group's net income for the current year so far remains below the financial
plan by EUR 4.7 million, i.e. 2%. In terms of net income, the result of the
current year is below the financial plan by EUR 5.1 million, i.e. 5%. As at the
end of October, the loan portfolio exceeds the financial plan by EUR 95 million
and the volume of deposits by EUR 98 million.

To access the reports of AS LHV Group, please visit the website at
https://investor.lhv.ee/en/reports/.

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 October, LHV Pank's banking services are being used by 486,000 clients,
the pension funds managed by LHV have 107,000 active clients, and LHV Kindlustus
protects a total of 229,000 clients. LHV Bank, a subsidiary of the Group, holds
a banking licence in the UK and provides banking services to international
financial technology companies, as well as loans to small and medium-sized
enterprises and retail banking services.


Investor relations
Sten Hans Jakobsoo
Head of Investor Relations and Corporate Development
E-mail: [email protected] (mailto:[email protected])

Media and Communication
Paul Pihlak
Head of Communications
E-mail: [email protected]
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