LHV Group — Earnings Release 2026

Mar 17, 2026

LHV Group February 2026 Results

LHV Group February 2026 Results

LHV Group's business volumes and profitability remained in line with
expectations in February. LHV Group's consolidated loan portfolio stood at EUR
5.52 billion at the end of February, broadly in line with the financial plan.
Deposits reached EUR 7.86 billion, exceeding the financial plan by EUR 218
million. Assets under management grew to EUR 1.77 billion, exceeding the plan by
EUR 77 million. Financial intermediaries processed 8.2 million payments in
February, bringing the year-to-date total to 16.9 million, which is 2.9 million
ahead of the financial plan.

AS LHV Group generated consolidated net profit of EUR 6.4 million in February.
Among the subsidiaries, AS LHV Pank earned EUR 8.8 million, LHV Bank Ltd EUR
0.5 million, AS LHV Varahaldus EUR 0.3 million and AS LHV Kindlustus recorded a
loss of EUR 0.3 million. LHV Pank and LHV Bank have existing interest rate swap
agreements in place between each other. As Bank applies hedge accounting and the
related impact is eliminated upon Group consolidation, LHV Group's consolidated
net profit differs from the sum of subsidiary net profits. Return on equity
attributable to shareholders was 11.0% in February.

LHV Group's cumulative net profit for 2026 reached EUR 13.7 million by the end
of February, exceeding the financial plan by EUR 848 thousand (7%). Operating
expenses were in line with the plan and the strong quality of the loan portfolio
allowed impairment losses to come in EUR 2.0 million below plan.

LHV Pank

LHV Pank's customer base grew by 1,900 in retail banking and 700 in corporate
banking in February. The loan portfolio decreased by EUR 44 million during the
month, driven by a single large corporate loan repayment. The retail loan
portfolio grew by EUR 15 million over the same period. The total loan portfolio
stood at EUR 4.66 billion, EUR 26 million below the financial plan. Overall loan
portfolio quality remains strong, with impairments at minimal levels in
February.

Deposits reached EUR 6.63 billion, exceeding the financial plan by EUR 145
million, including banking services deposits of EUR 1.40 billion. Total deposits
declined by EUR 79 million during the month as the higher-priced platform and
corporate deposits decreased.

LHV Pank's income and expenses delivered a good result in February. Net income
reached EUR 19.5 million, bringing the year-to-date total to EUR 37.8 million,
which is EUR 1.2 million (3%) ahead of the financial plan. February net profit
was EUR 8.8 million. The cumulative year-to-date net profit stands at EUR 16.4
million, exceeding the financial plan by EUR 2.6 million (19%).

LHV Bank

LHV Bank in the United Kingdom delivered strong business volume growth across
all segments in February. The loan portfolio stood at EUR 856 million, growing
by EUR 48 million during the month and exceeding the financial plan by EUR 25
million. The pipeline of approved but not yet disbursed loans stands at GBP 94
million (EUR 108 million).

Deposits grew by EUR 20 million in February to EUR 1.33 billion, exceeding the
financial plan by EUR 85 million. The majority of the growth is related to pre-
funding of the active lending pipeline.

February net profit reached EUR 0.5 million. The year-to-date net profit stands
at EUR 1.2 million, exceeding the financial plan by EUR 0.2 million (19%). A new
marketing campaign to accelerate retail customer acquisition is planned for Q2
and Q3. An agentic AI proof of concept is also underway to support the rollout
of AI-powered retail customer service.

LHV Varahaldus

The first two months of 2026 have been very strong for LHV's pension funds. The
larger funds, Julge and Ettevõtlik, returned 3.4% and 2.5% respectively in
February. The Tasakaalukas and Rahulik funds returned 1.3% and 0.7%. LHV
Pensionifond Indeks, which carries higher exposure to emerging markets, gained
2.8% during the month.

Total assets under management reached EUR 1.77 billion by the end of February,
exceeding the financial plan by EUR 77 million driven by stronger-than-expected
fund returns. The number of active second pillar pension fund clients was
105,000.

February net profit was EUR 0.3 million. The year-to-date net profit stands at
EUR 0.7 million, exceeding the financial plan by EUR 0.4 million (122%). The
strong result is largely attributable to higher-than-expected fund returns and
the resulting uplift in performance-linked financial income.

LHV Kindlustus

LHV Kindlustus wrote new insurance contracts worth EUR 4.0 million in February,
although higher-volume products fell short of sales targets. At the end of
February, the total number of active insurance contracts stood at approximately
235,000. Claims paid totalled EUR 2.6 million, with 11,700 new claims registered
during the month.

Persistently difficult weather conditions continued to weigh on the loss ratio.
The net loss ratio was 81.6% in February, with the year-to-date net loss ratio
reaching 84.1% against a financial plan target of 67.9%. The net expense ratio
was 29.3% in February, impacted by a one-off cost item.

LHV Kindlustus recorded a net loss of EUR 0.3 million in February. The
cumulative year-to-date net loss stands at EUR 0.7 million, which is EUR 1.1
million below the financial plan, attributable to a higher-than-expected number
of claims driven by prolonged adverse weather conditions.

AS LHV Group reports are available 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 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 235,000 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]
(https://www.globenewswire.com/Tracker?data=4e1zh2NBjOKr0_BHOKkA1qcNTOeAPCuDU-
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Media and communications?
Paul Pihlak?
Head of Communications?
Email:[email protected]
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