Nordnet Bank

Regulatory Filings • Jan 28, 2025

Nordnet announces the establishment of operations in Germany

Nordnet announces today its ambition to establish operations in Germany. Commercial launch is expected in the second half of 2026.

Nordnet is the largest digital platform for savings and investments in the Nordic region with 2.1 million customers and over EUR 90 billion in savings capital. The company is listed on Nasdaq Stockholm and currently has operations in Sweden, Norway, Denmark and Finland. Nordnet offers a wide range of services in shares, funds, pensions and loans.

• I am very much looking forward to launching Nordnet's platform on the German market. Our strategy is to build a one-stop shop for savings and investments and create a complete experience from a saver's perspective. We have now fulfilled that ambition in the Nordic market, and expansion to another country is a natural next step. By establishing in Germany, we secure long-term growth for Nordnet with a limited investment, while further diversifying our business, says Lars-Åke Norling, CEO of Nordnet.

Germany has close to 85 million inhabitants and is Europe's most populous country. The adult population amounts to just over 70 million people, and of these, around 17 percent today have savings in shares or funds.

• The German savings market is the largest in Europe and is more than twice the size of the Nordic savings markets combined. This despite the fact that a relatively low percentage of the population saves in shares and mutual funds today. However, interest is increasing all the time, which means that Germany offers a large and growing potential for Nordnet. The competition in Germany is tough, but I think we have a good possibility to succeed. We have an infrastructure that is relatively easy to replicate into a new market, and a proven history of expanding geographically. Our offer matches the German savers' demand, where the key components are a broad offering of savings products, high quality digital services, as well as transparent and competitive pricing, says Lars-Åke Norling, CEO of Nordnet.

A study of the German savings market carried out by Nordnet shows that digital banks and platforms are taking market share from traditional players. There is also a lot of mobility in the market, where around half of the savers have changed banks in the last two years. The three most common reasons for switching are fees, breadth of offering and mobile user experience.

• Our vision is to democratize savings and investments. We want to give private savers access to the same information and tools as professional investors, and promote issues that affect society in a saver-friendly direction. We see that there is a great engagement among the German savers in matters related to personal finances, and that they are active in finding an easier and more cost-efficient way of saving, says Lars-Åke Norling, CEO of Nordnet.

The cost associated with the establishment in Germany is expected to be around SEK 60 million in 2025, and then gradually increase to around SEK 100 million per year from 2028.

Today, a site is launched at www.nordnet.de with brief information about Nordnet's plans for the German market. Interested parties can sign up with an e-mail address to receive news about the upcoming launch.

For more information, please contact:

Johan Tidestad, Chief Communications Officer johan.tidestad@nordnet.se, +46 708 875 775

Marcus Lindberg, Head of Investor Relations marcus.lindberg@nordnet.se, +46 764 923 128

This disclosure contains information that Nordnet is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact persons, on 2025-01-28, 08:00 CET.