LHV Group — Earnings Release 2026

Feb 17, 2026

LHV Group Results for January 2026

LHV Group Results for January 2026

LHV Group's results for January 2026 were characterised by higher profitability
and growth in business volumes.

The consolidated loan portfolio of LHV Group increased by EUR 51 million over
the month, reaching EUR 5.52 billion. Total deposits decreased by EUR 214
million to EUR 7.92 billion. The volume of funds managed by LHV increased by EUR
13 million to EUR 1.72 billion. In January, 8.7 million payments related to
financial intermediaries were processed.

AS LHV Group earned a consolidated net profit of EUR 7.2 million in January. Of
the subsidiaries, AS LHV Pank earned EUR 7.6 million, LHV Bank Ltd EUR 0.7
million, AS LHV Varahaldus EUR 0.4 million in profit, and AS LHV Kindlustus
recorded a net loss of EUR 0.4 million. The return on equity attributable to
shareholders was 11.4% in January.

LHV Group's net income for January was EUR 0.5 million below the financial plan,
while net profit exceeded the financial forecast by EUR 0.4 million. The loan
portfolio was broadly in line with the financial plan. Deposits exceeded the
financial forecast by EUR 244 million.

LHV Pank

The number of customers of LHV Pank increased by 3,200 in January, reaching a
total of 495 thousand customers. Loan volumes grew by EUR 24 million and the
total loan portfolio reached EUR 4.71 billion. The retail loan portfolio
increased by EUR 16 million, while the corporate loan portfolio grew by EUR 8
million. The overall quality of the loan portfolio remains strong. Loan
impairments amounted to EUR 0.3 million in January. Deposits decreased less than
expected by EUR 259 million during the month, reaching EUR 6.71 billion at the
end of January. Demand deposits decreased by EUR 230 million and term deposits
by EUR 29 million. Net profit for January exceeded the financial plan by EUR
0.3 million.

LHV Bank

LHV Bank, operating in the United Kingdom, delivered solid growth in business
volumes in January. The loan portfolio increased by EUR 26 million, reaching EUR
809 million at the end of the month. Loans approved by the credit committee but
not yet disbursed amounted to EUR 125 million. Deposits increased by EUR 26
million month-on-month, reaching a total of EUR 1.31 billion. In January,
customer base increased by 600. Net profit exceeded the financial plan by EUR
0.2 million.

LHV Varahaldus

The year has started strongly for LHV Varahaldus. The larger funds, Julge and
Ettevõtlik, increased by 4.7% and 3.0% during the month, respectively. The funds
Tasakaalukas and Rahulik delivered returns of 1.8% and 1.1%, respectively. LHV
Pensionifond Indeks increased by 3.0% in January. Net profit for January
exceeded the financial plan by EUR 0.2 million.

LHV Kindlustus

In January, LHV Kindlustus concluded new insurance contracts totalling EUR 7.1
million. As at the end of January, approximately 306,000 insurance contracts
were in force. Claims were paid in the amount of EUR 3 million during the month
and 11,500 new claims were registered. Adverse weather conditions increased the
net loss ratio to 86.5%. The net expense ratio was 25.8%. A sales campaign
supported strong results in motor own damage and motor third-party liability
insurance. Overall, LHV Kindlustus' result for January was EUR 0.6 million below
the financial plan.

The reports of AS LHV Group are available
at: https://investor.lhv.ee/en/reports/
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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 approximately 1,200 people.
The services of LHV Pank are being used by 495,000 customers, the II pillar
pension funds managed by LHV have 105,000 active customers and LHV Kindlustus
protects a total of 233,000 customers. 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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Media and communications
Paul Pihlak
Head of Communications
Email: [email protected]
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