AS LHV Group December 2024

LHV Factbook

Vision, Mission and Structure Strategy and Financial Plan LHV Credit Ratings AS LHV Group Income Statement AS LHV Group Balance Sheet AS LHV Group Financial and Operational Ratios AS LHV Group Capital Ratios AS LHV Group Loans by Economic Sectors AS LHV Group Quality of Loans AS LHV Group Liabilities AS LHV Group Other Risk Indicators AS LHV Group Liquidity Coverage Ratio (LCR) AS LHV Group Net Stable Funding Ratio (NSFR) AS LHV Pank Income Statement AS LHV Pank Balance Sheet AS LHV Pank Financial, Operational and Regulatory Ratios LHV Bank Ltd Income Statement LHV Bank Ltd Balance Sheet LHV Bank Ltd Financial and Operational Ratios AS LHV Varahaldus Income Statement AS LHV Varahaldus Balance Sheet AS LHV Varahaldus Financial and Operational Ratios AS LHV Varahaldus Assets Under Management AS LHV Kindlustus Income Statement AS LHV Kindlustus Balance Sheet AS LHV Kindlustus Financial and Operational Ratios ESG data Share information Bond information Financial Calendar and Contacts

Our vision is encouraging people and businesses think big and act big.

Our mission is to provide better access to financial services and capital.

Legal structure

Strategy and financial plan back

LHV Group – Largest financial group and capital provider in Estonia LHV Pank – Largest and most profitable bank in Estonia by 2032. The second largest bank by 2027

AS LHV Group
December 2024

Strategy and financial plan

LHV Group – Largest financial group and capital provider in Estonia
LHV Pank – Largest and most profitable bank in Estonia by 2032. The second largest bank by 2027

LHV Bank – A bank in the United Kingdom focusing on payments and corporate loans
LHV Varahaldus – Most important institutional investor in Estonia. At least a 6%			long-term		return on actively managed funds

LHV Kindlustus – Leader in quality on Estonian insurance market



Financial results, EURt	2024	2025	2026	2027	2028
Total revenue, incl.	349,397	332,071	364,558	420,542	496,929
Net interest income	279,333	244,233	264,047	309,448	361,978
Net fee and commission income	66,642	85,476	97,656	107,730	131,458	5y growth
Total expenses	150,903	150,814	162,956	172,961	182,792
Earning before impairment Impairment losses	198,494 23,676	181,257	201,602	247,581	314,137
Income tax expense	24,514	163,597 17,660 31,346	183,043 18,559 35,568	227,994 19,588 44,949	293,857 20,280 60,048

Net profit Attr. to shareholders	150,304 149,372	132,251 129,081	147,475 142,534	183,044 176,788	233,809 225,071

Business volumes, EURm Deposits from customers	2024 6,667	2025 7,681	2026 8,723	2027 9,747	2028 10,902
Loans (net)	4,343	4,755	5,610	6,510	7,375
Fin.intermediaries' payments, mil. pcs	69	73	87	103	123
Assets under management	1,573	1,900	2,160	2,432	2,716
Key figures	2024	2025	2026	2027	2028
Cost / income ratio	43.2%	45.4%	44.7%	41.1%	36.8%
ROE* T1 capital adequacy	24.8% 17.7%	20.0% 18.3%	20.0% 17.9%	21.8% 18.1%	24.2% 18.5%	10% 6% 11%

* ROE is based on LHV Group profit and equity attributable to the owners of AS LHV Group. Calculated based on average of month-end equity balances

Credit ratings back

	Latest
	affirmed	Affirmation
	rating	date	Outlook	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
AS LHV Group
Long-term local currency issuer rating	Baa3	12 Apr 24	positive	Baa3	Baa3	Baa3
Senior unsecured debt	Baa3	12 Apr 24	positive	Baa3	Baa3	Baa3
AS LHV Pank
Long-term counterparty risk assessment	A3 (cr)	12 Apr 24	stable	A3 (cr)	A3 (cr)	A3 (cr)	A3 (cr)	A3 (cr)
Short-term counterparty risk assessment	P-2 (cr)	12 Apr 24	stable	P-2 (cr)	P-2 (cr)	P-2 (cr)	P-2 (cr)	P-2 (cr)
Long-term counterparty risk rating	A3	12 Apr 24	stable	A3	A3	A3	A3	A3
Short-term counterparty risk rating	P-2	12 Apr 24	stable	P-2	P-2	P-2	P-2	P-2
Foreign- and local currency long-term bank deposit	A3	12 Apr 24	positive	Baa1	Baa1	Baa1	Baa1	Baa1
Foreign- and local currency short-term bank deposit	P-2	12 Apr 24	stable	P-2	P-2	P-2	P-2	P-2
Baseline credit assessment	Baa3	12 Apr 24	stable	baa3	baa3	baa3	baa3	baa3
Adjusted baseline credit assessment	Baa3	12 Apr 24	stable	baa3	baa3	baa3	baa3	baa3
Long-term rating to the mortgage covered bonds	Aa1	09 Jun 20	na	Aa1	Aa1	Aa1	Aa1

LHV credit ratings are assigned by rating agency Moody's Investors Service.

Income statement, 9 quarters back

Income statement, EURt	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Net interest income	66,556	67,426	70,425	68,918	67,670	68,140	62,900	55,108	44,098
Net fee and commission income	17,323	14,630	14,352	13,997	15,023	12,522	11,492	11,799	11,535
Other income	1,041	1,510	1,022	1,098	3,000	817	510	1,476	924
Total net income	84,920	83,566	85,800	84,013	85,693	81,479	74,902	68,383	56,557
Staff costs	-22,831	-19,499	-20,420	-19,565	-18,644	-16,308	-15,851	-15,667	-13,169
Office rent and expenses	-715	-801	-874	-513	-872	-1,085	-1,225	-767	263
IT expenses	-4,270	-3,612	-3,267	-2,892	-4,067	-3,379	-3,657	-3,226	-2,740
Marketing expenses	-2,086	-1,298	-796	-619	-1,117	-845	-1,087	-810	-1,084
Other operating expenses	-10,882	-10,702	-10,742	-10,536	-13,151	-11,190	-11,220	-10,152	-10,150
Total operating expenses	-40,783	-35,911	-36,100	-34,125	-37,852	-32,807	-33,040	-30,622	-26,881
EBIT	44,137	47,655	49,700	49,888	47,841	48,672	41,862	37,761	29,676
Earnings before impairment losses	44,137	47,655	49,700	49,888	47,841	48,672	41,862	37,761	29,676
Impairment losses	-1,085	-7,277	-5,044	-2,850	-9,430	-2,883	-809	1,583	-250
Income tax	-6,733	-5,681	-6,071	-6,335	-5,642	-6,314	-5,422	-6,281	-5,112
Net profit	36,319	34,698	38,585	40,702	32,769	39,475	35,631	33,063	24,315
Profit attributable to non-controlling interest	565	312	300	158	231	419	278	409	237
Profit attributable to owners of the parent	35,754	34,386	38,285	40,544	32,538	39,057	35,353	32,654	24,078

Net profits of group companies
LHV Pank (unconsolidated)	33,245	33,660	34,399	37,899	33,335	35,128	33,687	37,974	28,715
LHV Finance	1,807	699	697	82	331	991	853	681	1,461
LHV Varahaldus	509	583	744	-220	539	605	421	87	541
LHV Kindlustus	68	452	422	256	423	299	33	-450	-527
LHV Bank	640	-602	938	4,868	3,046	3,166	1,578	-2,512	-5,104
LHV Paytech	25	188	228	224	373	325	-1	-219	-137
LHV Group (stand-alone)	426	119	1,559	79,633	-1,477	-823	-725	3,748	-254

Income statement, 5 years

Income statement, EURt	2024	2023	2022	2021	2020
Net interest income	273,326	253,819	129,111	97,319	68,492
Net fee and commission income	60,301	50,835	44,663	42,559	33,351
Other income	4,672	5,803	-232	502	1,704
Total net income	338,299	310,457	173,542	140,379	103,547
Staff costs	-82,315	-66,471	-46,795	-31,322	-23,914
Office rent and expenses	-2,902	-3,949	-2,097	-1,836	-798
IT expenses	-14,042	-14,330	-8,151	-4,407	-3,343
Marketing expenses	-4,799	-3,858	-3,261	-2,506	-1,822
Other operating expenses	-42,862	-45,714	-29,334	-25,111	-14,098
Total operating expenses	-146,920	-134,321	-89,639	-65,183	-43,975
EBIT	191,379	176,136	83,903	75,197	59,572
Earnings before impairment losses	191,379	176,136	83,903	75,197	59,572
Impairment losses	-16,256	-11,539	-8,051	-3,948	-10,898
Income tax	-24,820	-23,659	-14,421	-10,986	-8,827
Net profit	150,304	140,938	61,431	60,263	39,847
Profit attributable to non-controlling interest	1,335	1,336	1,624	2,002	1,897
Profit attributable to owners of the parent	148,969	139,601	59,807	58,261	37,950

Net profits of group companies
LHV Pank (unconsolidated)	139,204	140,124	78,440	61,409	31,293
LHV Finance	3,285	2,856	6,181	6,542	7,153
LHV Varahaldus	1,616	1,652	-103	695	8,345
LHV Kindlustus	1,198	305	-1,693	-823	-551
LHV Bank	5,845	5,279	-11,670	-2,992	0
LHV Paytech	665	479	-462	-485	0
LHV Group (stand-alone)	81,737	723	3,505	8,893	5,742

Balance sheet, 9 quarters back

Balance sheet, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Cash and due from banks	3,818,305	3,376,016	3,217,448	3,402,338	3,119,394	2,857,964	2,604,108	2,574,177	2,482,288
Financial assets	309,804	259,933	157,131	249,968	340,341	269,828	369,289	297,012	373,584
Loans granted	4,591,906	4,168,778	3,925,877	3,676,442	3,591,517	3,396,048	3,272,084	3,167,568	3,229,214
Allowances for credit losses	-39,813	-42,543	-35,333	-31,843	-29,725	-20,466	-18,588	-18,384	-20,642
Receivables from customers	5,367	10,598	15,919	22,934	49,505	36,873	28,199	19,807	21,019
Other assets	50,742	47,567	48,681	50,733	54,559	50,924	52,223	50,353	49,539
Total assets	8,736,311	7,820,348	7,329,723	7,370,572	7,125,590	6,591,170	6,307,315	6,090,534	6,135,002
Demand deposits	4,855,101	4,160,516	3,882,999	3,926,714	3,808,162	3,814,480	4,005,191	4,339,971	4,644,843
Term deposits	2,019,593	2,085,710	1,862,361	1,970,166	1,897,963	1,486,318	1,049,677	524,410	254,975
Accrued interest liability	35,416	40,134	38,569	37,461	24,880	15,406	7,499	2,517	697
Loans received	927,686	679,550	735,281	568,355	563,634	461,635	510,934	539,807	586,254
Loans received and deposits from customers	7,837,795	6,965,910	6,519,211	6,502,697	6,294,639	5,777,839	5,573,302	5,406,706	5,486,768
Other liabilities	93,601	108,605	100,710	141,573	147,934	124,238	120,896	98,870	96,541
Subordinated loans	126,257	106,079	107,521	127,568	126,652	166,848	131,301	131,070	130,843
Total liabilities	8,057,653	7,180,595	6,727,441	6,771,838	6,569,225	6,068,925	5,825,499	5,636,646	5,714,152
Equity	678,657	639,754	602,282	598,734	556,365	522,245	481,816	453,888	420,850
Minority interest	8,571	8,006	7,695	7,394	7,937	7,706	7,287	7,009	7,908
Total liabilities and equity	8,736,311	7,820,348	7,329,723	7,370,572	7,125,590	6,591,170	6,307,315	6,090,534	6,135,002

Balance sheet, 5 years

Balance sheet, EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Cash and due from banks	3,818,305	3,119,394	2,482,288	3,987,312	2,393,537
Financial assets	309,804	340,341	373,584	135,856	330,055
Loans granted	4,591,906	3,591,517	3,229,214	2,696,210	2,225,681
Allowances for credit losses	-39,813	-29,725	-20,642	-19,049	-16,858
Receivables from customers	5,367	49,505	21,019	9,746	9,388
Other assets	50,742	54,559	49,539	34,856	29,604
Total assets	8,736,311	7,125,590	6,135,002	6,844,930	4,971,407
Demand deposits	4,855,101	3,808,162	4,644,843	5,649,593	3,635,166
Term deposits	2,019,593	1,897,963	254,975	159,283	483,301
Accrued interest liability	35,416	24,880	697	-1,255	1,302
Loans received	927,686	563,634	586,254	546,280	468,585
Loans received and deposits from customers	7,837,795	6,294,639	5,486,768	6,353,899	4,588,355
Other liabilities	93,601	147,934	96,541	55,852	27,173
Subordinated loans	126,257	126,652	130,843	110,378	110,603
Total liabilities	8,057,653	6,569,225	5,714,152	6,520,130	4,726,131
Equity	678,657	556,365	420,850	324,801	245,276
Minority interest	8,571	7,937	7,908	8,384	8,483
Total liabilities and equity	8,736,311	7,125,590	6,135,002	6,844,930	4,971,407

Financial and Operational Ratios, 9 quarters back

Financial and operational ratios	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Return on Equity (ROE)	22.0%	22.4%	25.8%	28.5%	24.5%	31.6%	30.7%	30.4%	24.0%
pre-tax ROE	26.1%	26.1%	29.9%	32.9%	28.7%	36.7%	35.4%	36.3%	29.1%
Return on Assets (ROA)	1.8%	1.8%	2.1%	2.2%	1.9%	2.4%	2.3%	2.2%	1.6%
CFROI	31.0%	33.6%	36.2%	35.8%	36.0%	34.4%	30.2%	26.8%	22.5%
Net Interest Margin (NIM)	3.2%	3.6%	3.9%	3.8%	4.0%	4.3%	4.1%	3.6%	2.9%
Spread	3.0%	3.3%	3.6%	3.6%	3.8%	4.1%	4.0%	3.6%	2.8%
Cost/Income ratio (C/I)	48.0%	43.0%	42.1%	40.6%	44.2%	40.3%	44.1%	44.8%	47.5%
Equity Multiplier (EM)	12.7	12.4	12.4	12.7	12.9	13.0	13.5	14.2	15.5
Cost of Risk (CoR)	0.1%	0.7%	0.5%	0.3%	1.1%	0.3%	0.1%	-0.2%	0.0%
Loans/Deposits ratio (L/D)	65.9%	65.6%	67.3%	61.4%	62.1%	63.5%	64.3%	64.7%	65.5%
L/D (w-o banking services deposits) ratio	81.9%	76.7%	78.9%	74.3%	75.1%	76.6%	80.3%	85.5%	88.7%
Assets under Custody (EURm)	3,984	3,802	3,814	3,825	3,695	3,744	4,374	3,359	3,329
Number of Customers (thousands)	613	603	597	595	587	577	575	568	556
Number of Employees (full-time)	1,215	1,176	1,136	1,073	1,051	1,013	990	908	874

Financial and Operational Ratios, 5 years

Financial and operational ratios	2024	2023	2022	2021	2020
Return on Equity (ROE)	24.5%	29.0%	16.4%	21.1%	17.3%
Pre-tax ROE	28.5%	34.0%	20.3%	24.9%	20.5%
Return on Assets (ROA)	1.9%	2.1%	0.9%	1.0%	1.0%
CFROI	31.0%	36.0%	22.5%	26.4%	26.4%
Net Interest Margin (NIM)	3.5%	3.9%	2.0%	1.7%	1.7%
Spread	3.2%	3.8%	2.0%	1.6%	1.7%
Cost/Income ratio (C/I)	43.4%	43.3%	51.7%	46.4%	42.5%
Equity Multiplier (EM)	13.0	13.8	17.8	21.4	18.3
Cost of Risk (CoR)	0.4%	0.3%	0.3%	0.2%	0.6%
Loans/Deposits ratio (L/D)	65.9%	62.1%	65.5%	46.1%	53.6%
L/D (w-o banking services deposits) ratio	81.9%	75.1%	88.7%	75.2%	72.0%
Assets under Custody (EURm)	3,984	3,695	3,329	3,866	2,058
Number of Customers (thousands)	613	587	556	513	410
Number of Employees (full-time)	1215	1051	874	640	513

*Balance Sheet items used for quarterly ratio calculations have been calculated as an average of the previous quarter and the reporting quarter balances.

Balance Sheet items used for annual ratio calculations have been calculated as an average of the previous year-end and reporting year-end balances.

Ratios containing Profit and Loss Statement items have been calculated based on actual data. For annualization purposes quarterly data has been multiplied by 4.

Return on Equity (ROE)

net profit (attributable to the owners of the parent) / average equity (attributable to the owners of the parent) * 100

pre-tax ROE

profit before taxes (attributable to the owners of the parent) / average equity (attributable to the owners of the parent) * 100

Return on Assets (ROA) net profit / average assets * 100

CFROI

operating profit / total equity (average) * 100

Net Interest Margin (NIM) net interest income / average interest earning assets * 100

Spread

yield on interest earning assets - cost of interest bearing liabilities

Cost/Income ratio (C/I) total operating expenses / total net income * 100

Equity Multiplier (EM) average assets/ average equity (attributable to the owners of the parent)

Cost of Risk (CoR) impairment losses on loans / average loan portfolio

Loans/Deposits ratio (L/D) net loans / deposits * 100

Loans/Deposits (w-o banking services) ratio

EURt Dec 24 Sep 24 Jun 24 Mar 24 Dec 23 Sep 23 Jun 23 Mar 23 Dec 22 Total Tier 1 capital 594,215 595,361 570,147 555,702 526,357 495,775 477,656 420,625 419,956 Total Tier 2 capital 90,196 70,026 70,000 70,000 70,000 110,000 75,000 75,000 75,000 Net own funds for capital adequacy calculation 684,411 665,387 640,147 625,702 596,357 605,775 552,656 495,625 494,956 MREL-eligible bonds 415,435 415,105 476,793 313,074 311,098 211,707 209,983 190,129 188,443 Total net own funds and eligible liabilities 1,099,846 1,080,492 1,116,940 938,775 907,455 817,481 762,639 685,754 683,399 Credit risk RWA 2,829,675 2,545,026 2,441,591 2,344,638 2,279,037 2,137,074 2,063,087 1,968,451 2,059,477 Market risk RWA 90,437 91,709 89,497 7,075 2,539 3,529 1,159 5,657 19,065 Credit valuation adjustment risk RWA 3,525 1,648 1,384 2,316 1,966 3,011 2,091 2,203 2,228 Operational risk RWA 385,579 385,579 385,579 385,579 259,437 259,437 259,437 259,437 197,920 Total risk-weighted assets (RWA) 3,309,217 3,023,962 2,918,051 2,739,609 2,542,979 2,403,051 2,325,774 2,235,749 2,278,689 Leverage ratio risk exposure amount 8,859,831 7,934,046 7,444,740 7,485,381 7,193,145 6,647,084 6,291,164 6,102,429 6,145,422 Capital adequacy CT1 16.89% 18.52% 18.34% 18.28% 18.54% 18.34% 18.17% 16.35% 16.02% internal minimum requirement 14.70% 14.70% 14.70% 14.70% 14.70% 14.20% 14.20% 14.20% 14.20% regulatory minimum requirement 12.41% 12.41% 12.41% 12.41% 12.41% 11.91% 11.91% 11.91% 11.91% Capital adequacy T1 17.96% 19.69% 19.54% 20.28% 20.70% 20.63% 20.54% 18.81% 18.43% internal minimum requirement 16.85% 16.85% 16.85% 16.85% 16.85% 16.35% 16.35% 16.35% 16.35% regulatory minimum requirement 14.55% 14.55% 14.55% 14.55% 14.55% 14.05% 14.05% 14.05% 14.05% Capital adequacy CAD 20.68% 22.00% 21.94% 22.84% 23.45% 25.21% 23.76% 22.17% 21.72% internal minimum requirement 19.70% 19.70% 19.70% 19.70% 19.70% 19.20% 19.20% 19.20% 19.20% regulatory minimum requirement 17.40% 17.40% 17.40% 17.40% 17.40% 16.90% 16.90% 16.90% 16.90% MREL-TREA 33.24% 35.73% 38.28% 34.27% 35.68% 34.02% 32.79% 30.67% 29.99% internal minimum requirement 26.50% 26.50% 26.50% 26.50% 19.50% 19.50% 19.50% 19.50% 19.50% regulatory minimum requirement 26.30% 26.30% 26.30% 19.08% 19.08% 19.08% 19.08% 19.08% 19.08% regulatory minimum for dividends 32.29% 32.29% 32.29% 25.08% 25.08% 24.58% 24.58% 24.58% 24.58% MREL-LRE 12.41% 13.62% 15.00% 12.54% 12.62% 12.30% 12.12% 11.24% 11.12% internal minimum requirement 6.20% 6.20% 6.20% 6.20% 6.20% 6.20% 6.20% 6.20% 6.20% regulatory minimum requirement 5.91% 5.91% 5.91% 5.91% 5.91% 5.91% 5.91% 5.91% 5.91% Leverage ratio 6.71% 7.50% 7.66% 7.42% 7.32% 7.46% 7.59% 6.89% 6.83% internal minimum requirement 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% regulatory minimum requirement 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Capital ratios, 9 quarters back

Capital ratios, 5 years

EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Total Tier 1 capital	594,215	526,357	419,956	310,357	236,333
Total Tier 2 capital	90,196	70,000	75,000	75,000	75,000
Net own funds for capital adequacy calculation	684,411	596,357	494,956	385,357	311,333
MREL-eligible bonds	415,435	311,098	188,443
Total net own funds and eligible liabilities	1,099,846	907,455	683,399
Credit risk RWA	2,829,675	2,279,037	2,059,477	1,770,047	1,388,946
Market risk RWA	90,437	2,539	19,065	5,568	4,922
Credit valuation adjustment risk RWA	3,525	1,966	2,228	1,211	82
Operational risk RWA	385,579	259,437	197,920	152,778	124,638
Total risk-weighted assets (RWA)	3,309,217	2,542,979	2,278,689	1,929,605	1,518,588
Leverage ratio risk exposure amount	8,859,831	7,193,145	6,145,422	7,184,187
Capital adequacy CT1	16.89%	18.54%	16.02%	14.27%	13.26%
internal minimum requirement	14.70%	14.70%	14.20%	10.63%	10.63%
regulatory minimum requirement	12.41%	12.41%	11.91%	8.52%	8.52%
Capital adequacy T1	17.96%	20.70%	18.43%	16.08%	15.56%
internal minimum requirement	16.85%	16.85%	16.35%	12.46%	12.46%
regulatory minimum requirement	14.55%	14.55%	14.05%	10.16%	10.16%
Capital adequacy CAD	20.68%	23.45%	21.72%	19.97%	20.50%
internal minimum requirement	19.70%	19.70%	19.20%	16.00%	16.00%
regulatory minimum requirement	17.40%	17.40%	16.90%	13.33%	13.33%
MREL-TREA	33.24%	35.68%	29.99%
internal minimum requirement	26.50%	19.50%	19.50%
regulatory minimum requirement	26.30%	19.08%	19.08%
regulatory minimum for dividends	32.29%	25.08%	24.58%
MREL-LRE	12.41%	12.62%	11.12%
internal minimum requirement	6.20%	6.20%	6.20%
regulatory minimum requirement	5.91%	5.91%	5.91%
Leverage ratio	6.71%	7.32%	6.83%	4.32%
internal minimum requirement	3.50%	3.50%	3.50%	3.50%
regulatory minimum requirement	3.00%	3.00%	3.00%	3.00%

Capital adequacy ratios CT1, T1, and CAD are calculated as reported in COREP report

MREL-TREA

(net own funds and eligible liabilities) / risk-weighted assets * 100

MREL-LRE

(net own funds and eligible liabilities) / leverage ratio risk exposure amount* 100

Leverage ratio

total Tier 1 capital / leverage ratio risk exposure amount * 100

Loans by economic sectors, 9 quarters back

EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Individuals	1,657,567	1,577,047	1,471,474	1,392,691	1,363,347	1,320,578	1,291,036	1,258,174	1,248,515
Agriculture	57,604	102,518	102,679	102,299	100,905	61,794	108,486	98,711	79,560
Mining and quarrying	1,163	1,183	1,307	1,452	1,552	1,750	1,911	1,739	1,679
Manufacturing	199,907	196,069	197,623	186,370	178,570	159,003	161,008	158,212	155,377
Energy	217,888	179,978	176,389	176,007	176,582	206,953	132,370	50,394	93,491
Water and utilities	28,196	29,748	29,762	16,774	17,644	27,937	28,312	28,753	29,404
Construction	105,108	104,677	100,617	95,242	100,107	93,756	127,909	122,421	111,657
Wholesale and retail	170,881	180,572	181,016	184,813	200,317	175,381	154,325	135,325	151,254
Transport and logistics	70,120	79,536	77,241	76,527	77,578	27,172	25,934	26,362	25,522
Hotels and restaurants	59,906	37,842	27,888	26,285	25,859	21,867	15,329	35,152	35,334
Information and communication	26,682	24,563	24,539	15,392	16,030	13,679	13,323	13,987	13,844
Financial services	155,616	147,012	127,768	119,102	103,812	94,080	111,438	117,481	128,773
Real estate	1,359,818	1,101,311	1,009,078	906,692	873,519	796,690	753,865	781,117	793,578
Professional, scientific, and technical activities	146,737	87,453	89,024	85,572	84,881	108,552	93,572	86,738	75,344
Administrative activities	114,825	107,827	113,164	101,621	103,074	108,747	93,231	90,115	119,667
Public management	50,657	53,342	57,012	59,955	63,337	68,290	73,187	76,385	79,272

Education	8,512	8,342	8,335	8,163	8,257	7,798	5,429	5,563	5,747
Healthcare	69,796	58,193	44,401	36,004	23,205	20,319	15,166	15,195	14,853
Art and entertainment	71,684	70,215	72,621	72,162	59,248	63,692	57,201	57,339	57,859
Other servicing activities	19,239	21,350	13,939	13,319	13,692	18,010	9,051	8,405	8,484
Total gross loans	4,591,906	4,168,778	3,925,877	3,676,442	3,591,516	3,396,048	3,272,083	3,167,568	3,229,214
Allowance for credit losses	-39,813	-42,543	-35,333	-31,843	-29,725	-20,466	-18,588	-18,384	-20,642
Total net loans	4,552,093	4,126,235	3,890,544	3,644,599	3,561,791	3,375,582	3,253,495	3,149,184	3,208,572

Loans by economic sectors, 5 years

EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Individuals	1,657,567	1,363,347	1,248,515	1,012,318	858,141
Agriculture	57,604	100,905	79,560	68,673	72,398
Mining and quarrying	1,163	1,552	1,679	2,037	2,502
Manufacturing	199,907	178,570	155,377	152,568	152,968
Energy	217,888	176,582	93,491	59,132	43,651
Water and utilities	28,196	17,644	29,404	23,745	2,847
Construction	105,108	100,107	111,657	84,790	45,314
Wholesale and retail	170,881	200,317	151,254	132,116	88,643
Transport and logistics	70,120	77,578	25,522	28,888	27,534
Hotels and restaurants	59,906	25,859	35,334	30,721	16,472
Information and communication	26,682	16,030	13,844	10,902	12,705
Financial services	155,616	103,812	128,773	85,808	69,694
Real estate	1,359,818	873,519	793,578	657,585	498,926
Professional, scientific, and technical activities	146,737	84,881	75,344	44,888	41,678
Administrative activities	114,825	103,074	119,667	117,713	74,467
Public management	50,657	63,337	79,272	97,622	120,805
Education	8,512	8,257	5,747	4,341	16,404
Healthcare	69,796	23,205	14,853	13,210	13,336
Art and entertainment	71,684	59,248	57,859	51,795	59,184
Other servicing activities	19,239	13,692	8,484	17,357	8,012
Total gross loans	4,591,906	3,591,516	3,229,214	2,696,209	2,225,681
Allowance for credit losses	-39,813	-29,725	-20,642	-19,049	-16,858
Total net loans	4,552,093	3,561,791	3,208,572	2,677,160	2,208,823

Quality of loans as at December 2024 back

	Over-collateralised loans		Under-collateralised	Total
	Carrying	Fair value of	Carrying	Fair value of	Carrying	Fair value of
EURt	value	collateral	value	collateral	value	collateral
Stage 1	1,699,915	2,575,502	2,363,690	1,208,946	4,063,605	3,784,448
Corporate lending	684,575	963,334	1,793,128	772,698	2,477,703	1,736,032
Consumer financing	0	0	66,480	0	66,480	0
Investment financing	6,622	29,382	3,230	2,668	9,852	32,050
Leasing	20,261	29,787	135,180	97,755	155,441	127,542
Private lending	988,457	1,552,999	365,672	335,825	1,354,129	1,888,824
Stage 2	249,333	457,386	218,194	138,160	467,527	595,546
Corporate lending	108,950	137,211	150,885	111,696	259,835	248,907
Consumer financing	0	0	32,217	0	32,217	0
Investment financing	0	2	58	46	58	48
Leasing	3,948	6,028	17,152	13,297	21,100	19,325
Private lending	136,435	314,145	17,882	13,121	154,317	327,266
Stage 3	18,044	29,063	2,917	1,111	20,961	30,174
Corporate lending	14,892	20,296	439	112	15,331	20,408
Consumer financing	0	0	1,305	0	1,305	0
Investment financing	5	6	0	0	5	6
Leasing	826	1,105	1,160	999	1,986	2,104
Private lending	2,321	7,656	13	0	2,334	7,656

Quality of loans, 5 years

		Over-collateralised loans		Under-collateralised	Total
	Carrying	Fair value of	Carrying	Fair value of	Carrying	Fair value of
EURt	value	collateral	value	collateral	value	collateral
Dec 24
Faas 1	1,699,915	2,575,502	2,363,690	1,208,946	4,063,605	3,784,448
Faas 2	249,333	457,386	218,194	138,160	467,527	595,546
Faas 3	18,044	29,063	2,917	1,111	20,961	30,174
Dec 23
Faas 1	1,601,382	2,568,667	1,663,359	939,492	3,264,741	3,508,159
Faas 2	162,772	251,716	118,802	68,017	281,574	319,733
Faas 3	10,215	20,086	5,261	3,571	15,476	23,657
Dec 22
Faas 1	1,573,312	2,572,693	1,351,510	691,963	2,924,822	3,264,656
Faas 2	162,483	240,281	115,871	70,607	278,354	310,888
Faas 3	5,161	12,235	235	41	5,396	12,276
Dec 21
Faas 1	1,106,892	2,175,002	1,258,854	675,832	2,365,746	2,850,834
Faas 2	154,808	246,017	159,693	105,495	314,501	351,512
Faas 3	11,771	24,597	4,193	1,580	15,964	26,177
Dec 20
Faas 1
Faas 2
Faas 3

Since 31 Dec 2022 (incl.). the loan portfolio is presented in net value i.e after the allowance for credit losses.

Stage 1 — Financial instrument that is not credit-impaired on initial recognition is classified to Stage 1

Stage 2 — If a significant increase in credit risk (SICR) since initial recognition is identified, the financial instrument is moved to Stage 2

Stage 3 — If the financial instrument is credit-impaired, the financial instrument is moved to Stage 3

Please refer to section 2. 'Credit Risk' of Group Annual Report 2022 for additional information regarding definitions or credit risk management.

Liabilities, 9 quarters back

EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Banking services' deposits	1,503,491	1,014,218	934,369	1,162,844	1,118,262	1,043,007	1,009,526	1,183,427	1,281,160
Deposits from deposit platforms	810,289	854,894	607,089	667,780	570,221	419,372	277,734	473	545
Other deposits	4,596,329	4,417,248	4,242,472	4,103,718	4,042,522	3,853,826	3,775,108	3,682,999	3,618,810
Total deposits	6,910,110	6,286,360	5,783,929	5,934,341	5,731,005	5,316,204	5,062,368	4,866,899	4,900,515
Amounts owed to central banks	0	0	0	0	0	0	49,972	99,144	147,841
Covered bonds	500,161	249,876	249,738	249,853	249,718	249,581	249,444	249,559	249,425
Senior bonds	427,525	429,675	485,543	318,502	313,916	212,054	211,518	191,104	188,988
Other loans received	0	0	0	0	0	0	0	0	0
Total loans received and debt securities in issue	927,686	679,550	735,281	568,355	563,634	461,635	510,934	539,807	586,254
Accounts payable and other liabilities	93,601	108,605	100,710	141,573	147,934	124,238	120,896	98,870	96,541
Subordinated debt	126,257	106,079	107,521	127,568	126,652	166,848	131,301	131,070	130,843
Total liabilities	8,057,653	7,180,595	6,727,441	6,771,838	6,569,225	6,068,925	5,825,499	5,636,646	5,714,152

Liabilities, 5 years

EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Banking services' deposits	1,503,491	1,118,262	1,281,160	2,247,792	1,053,627
Deposits from deposit platforms	810,289	570,221	545	7,216	216,630
Other deposits	4,596,329	4,042,522	3,618,810	3,552,612	2,849,512
Total deposits	6,910,110	5,731,005	4,900,515	5,807,620	4,119,770
Amounts owed to central banks	0	0	147,841	197,461	200,000
Covered bonds	500,161	249,718	249,425	249,120	248,825
Senior bonds	427,525	313,916	188,988	99,698	0
Other loans received	0	0	0	0	19,759
Total loans received and debt securities in issue	927,686	563,634	586,254	546,280	468,585
Accounts payable and other liabilities	93,601	147,934	96,541	55,852	27,173
Subordinated debt	126,257	126,652	130,843	110,378	110,603
Total liabilities	8,057,653	6,569,225	5,714,152	6,520,130	4,726,131

Other risk indicators, 9 quarters back

	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Credit risk
Share of top 10 customers out of own funds	93.7%	98.5%	101.8%	97.8%	103.9%	106.6%	100.2%	95.9%	93.4%
Market risk
Price and foreign exchange risk (% of own funds)	1.2%	1.2%	1.3%	1.3%	0.9%	1.3%	1.0%	1.1%	1.3%
Liquidity risk
Liquidity Coverage Ratio LCR1	187.5%	211.0%	214.6%	198.4%	194.2%	173.0%	162.6%	146.2%	139.7%
LCR (regulatory minimum)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liquidity Coverage Ratio w-o fin. inst. deposits	469.5%	447.2%	457.4%	462.1%	449.9%	377.7%	326.2%	260.8%	231.5%
Net Stable Funding Ratio NFSR	154.4%	165.6%	164.1%	160.7%	160.2%	156.9%	148.0%	141.1%	144.0%
NSFR (regulatory minimum)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Assets encumbrance ratio	8.1%	8.7%	9.8%	9.9%	10.1%	8.6%	9.1%	9.4%	9.4%
AML risk
Share of non-resident deposits (excl. fin. inst.		2.1%	2.1%	2.0%	2.0%	2.1%	1.7%	1.9%	1.9%
and deposit platforms)	2.6%
Proportion of the number of payment
transactions of customers using the nested	13.1%	15.6%	17.0%	17.0%	18.3%	20.0%	21.2%	23.2%
correspondence service
1 Regulatory ratio

Other risk indicators, 5 years

	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Credit risk
Share of top 10 customers out of own funds	93.7%	103.9%	93.4%	90.4%	97.9%
Market risk
Price and foreign exchange risk (% of own funds)	1.2%	0.9%	1.3%	1.3%
Liquidity risk
Liquidity Coverage Ratio LCR1	187.5%	194.2%	139.7%	142.7%	147.9%
LCR (regulatory minimum)	100.0%	100.0%	100.0%	100.0%	100.0%
Liquidity Coverage Ratio w-o fin. inst. deposits	469.5%	449.9%	231.5%	253.3%
Net Stable Funding Ratio NFSR	154.4%	160.2%	144.0%	163.4%	152.6%
NSFR (regulatory minimum)	100.0%	100.0%	100.0%	100.0%	100.0%
Assets encumbrance ratio	8.1%	10.1%	9.4%
AML risk
Share of non-resident deposits (excl. fin. inst.
and deposit platforms)	2.6%	2.0%	1.9%
Proportion of the number of payment
transactions of customers using the nested	13.1%	18.3%
correspondence service

1 Regulatory ratio Share of top 10 customers out of own funds top 10 customer group's EAD / group's own funds

Price and foreign exchange risk (% of own funds)

(price risk + foreign exchange risk) / group's own funds, where. price risk is potential loss estimated in stress scenario, which arises from securities and derivatives positions that are recognised at market value

where foreign exchange risk is potential loss estimated in stress scenario, which arises from group's assets and liabilities on the statement of financial position and off the statement of financial position summed up by currencies i.e. open foreign currency position

LCR, NSFR are calculated as reported in COREP report

Assets encumbrance ratio Encumbered assets / total assets

Share of non-resident deposits (excl. fin. inst. and deposit platforms), where

residents in LHV Pank are Estonian residents residents in LHV Bank are UK residents

LCR calculated as reported in COREP report total high-quality liquid assets / (total outflows - total

inflows) * 100

Liquidity coverage ratio (LCR), 9 quarters back

EURt*	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
HQLA, level 1	3,931,638	3,435,298	3,189,900	3,463,775	3,266,271	2,937,461	2,780,131	2,707,928	2,690,650
Cash	1,695	886	1,543	1,045	774	620	988	1,355	1,220
Government bonds	254,993	212,347	118,919	214,585	297,894	231,566	333,462	262,371	344,556
Others	3,674,950	3,222,065	3,069,438	3,248,145	2,967,603	2,705,275	2,445,681	2,444,202	2,344,874
HQLA, level 2	0	0	0	0	0	0	0	0	0
Total high-quality liquid assets	3,931,638	3,435,298	3,189,900	3,463,775	3,266,271	2,937,461	2,780,131	2,707,928	2,690,650
Deposit outflows	2,126,310	1,645,206	1,523,756	1,739,804	1,682,143	1,698,508	1,689,048	1,834,622	1,904,365
Retail customers < 30 days; stable deposits	74,077	69,660	67,286	63,933	62,648	65,100	67,602	70,538	72,786
Retail customers < 30 days; less stable	97,971	85,190	88,144	88,691	80,898	91,422	94,525	95,451	108,326
Operational deposits	41,798	25,126	28,340	28,230	48,706	34,763	20,326	48,504	56,393
Non-operational deposits	1,912,464	1,465,230	1,339,986	1,558,951	1,489,891	1,507,223	1,506,595	1,620,129	1,666,860
Others	173,456	152,054	142,394	147,525	168,270	42,879	57,059	54,665	66,306
Total outflows	2,299,766	1,797,260	1,666,150	1,887,329	1,850,413	1,741,387	1,746,107	1,889,287	1,970,671
Inflows from fully performing exposures	79,402	77,003	87,426	46,380	45,377	37,349	31,250	32,433	40,226
Others	123,200	92,187	92,370	95,452	122,928	5,642	5,434	4,450	4,623
Total inflows	202,602	169,190	179,796	141,832	168,305	42,990	36,684	36,883	44,849
LCR (%)	187%	211%	215%	198%	194%	173%	163%	146%	140%

*Liquidity coverage ratio calculation components are presented as weighted amounts

Liquidity coverage ratio (LCR), 5 years

EURt*	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
HQLA, level 1	3,931,638	3,266,271	2,690,650	3,924,740	2,554,273
Cash	1,695	774	1,220	631	18,577
Government bonds	254,993	297,894	344,556	83,904	247,144
Others	3,674,950	2,967,603	2,344,874	3,840,205	2,288,551
HQLA, level 2	0	0	0	0	0
Total high-quality liquid assets	3,931,638	3,266,271	2,690,650	3,924,740	2,554,273
Deposit outflows	2,126,310	1,682,143	1,904,365	2,748,602	1,702,008
Retail customers < 30 days; stable deposits	74,077	62,648	72,786	61,831	45,795
Retail customers < 30 days; less stable	97,971	80,898	108,326	107,871	82,304
Operational deposits	41,798	48,706	56,393	156,302	0
Non-operational deposits	1,912,464	1,489,891	1,666,860	2,422,598	1,573,909
Others	173,456	168,270	66,306	62,164	51,202
Total outflows	2,299,766	1,850,413	1,970,670	2,810,766	1,753,210
Inflows from fully performing exposures	79,402	45,377	40,226	56,332	22,920
Others	123,200	122,928	4,623	3,878	2,808
Total inflows	202,602	168,305	44,849	60,210	25,727
LCR (%)	187%	194%	140%	143%	148%

*Liquidity coverage ratio calculation components are presented as weighted amounts

NSFR calculated as reported in COREP report total available stable funding / required stable funding *

100

Net stable funding ratio (NSFR), 9 quarters back

Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
684,411	634,254	609,697	594,436	557,561	585,490	502,386	495,625	473,931
4,147,704	4,028,129	3,711,189	3,574,849	3,532,904	3,285,161	3,083,288	2,787,376	2,798,964
1,770,189	1,703,650	1,638,935	1,589,584	1,552,929	1,236,897	1,284,433	1,340,224	1,382,936
								853,643
								61,278
								501,107
								523,679
5,750,264	5,202,776	4,926,866	4,737,435	4,658,614	4,338,501	4,053,524	3,733,000	3,796,574
0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0
								0
								2,488,771
								147,889
3,723,653	3,141,466	3,002,375	2,948,830	2,908,030	2,764,537	2,737,821	2,647,364	2,636,660
154%	166%	164%	161%	160%	157%	148%	141%	144%
	1,631,927 5,537 740,051 918,149 0 3,583,144 140,509	1,574,398 2,757 747,324 540,393 0 3,035,958 105,508	1,370,751 7,864 693,639 605,980 0 2,878,352 124,023	1,308,819 8,724 667,723 568,150 0 2,823,701 125,129	1,290,658 5,413 683,903 568,150 0 2,749,441 158,589	1,473,216 11,231 563,817 467,850 0 2,621,836 142,701	1,262,485 3,759 532,611 467,850 0 2,582,387 155,433	887,907 43,930 515,315 450,000 0 2,462,447 184,918

*NSFR calculation components are presented as weighted amounts

Net stable funding ratio (NSFR), 5 years

EURt*	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Own funds	684,411	557,561	473,931	366,984	293,558
Deposits	4,147,704	3,532,904	2,798,964	2,784,841	2,221,520
Retail customers; stable deposits	1,770,189	1,552,929	1,382,936	1,174,788	900,497
Retail customers; less stable deposits	1,631,927	1,290,658	853,643	811,552	797,342
Operational deposits	5,537	5,413	61,278	210,070	0
Non-operational deposits	740,051	683,903	501,107	588,431	523,681
Other	918,149	568,150	523,679	550,000	465,500
Available stable funding	5,750,264	4,658,614	3,796,574	3,701,825	2,980,578
HQLA, level 1	0	0	0	0	87,912
Cash	0	0	0	0	0
Government bonds	0	0	0	0	87,912
Others	0	0	0	0	0
HQLA, level 2	0	0	0	0	0
Loan portfolio	3,583,144	2,749,441	2,488,771	2,138,854	1,788,942
Other	140,509	158,589	147,889	126,586	75,802
Required stable funding	3,723,653	2,908,030	2,636,660	2,265,440	1,952,656
NSFR (%)	154%	160%	144%	163%	153%

*NSFR calculation components are presented as weighted amounts

Income statement, 9 quarters back

Income statement, EURt	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Net interest income	56,751	59,990	60,060	60,249	59,576	59,900	56,094	52,900	44,388
Net fee and commission income	11,600	8,740	8,232	7,871	8,444	5,715	5,510	7,548	8,259
Net gains from financial assets	-268	648	-174	375	2,369	-459	-439	1,181	691
Other income	701	385	661	292	1,162	329	215	31	98
Total net income	68,784	69,763	68,780	68,786	71,551	65,486	61,380	61,660	53,436
Staff costs	-14,919	-12,544	-13,866	-12,778	-12,140	-10,444	-10,410	-11,297	-9,803
Office rent and expenses	-275	-440	-428	-457	-305	-423	-461	-530	-537
IT expenses	-2,387	-2,223	-1,884	-1,589	-2,008	-1,550	-1,541	-1,359	-1,261
Marketing expenses	-1,592	-1,132	-648	-483	-859	-601	-754	-609	-912
Other operating expenses	-7,339	-6,493	-6,399	-7,497	-7,558	-7,478	-7,918	-6,990	-5,585
Total operating expenses	-26,513	-22,832	-23,225	-22,804	-22,870	-20,496	-21,083	-20,786	-18,099
Earnings before impairment losses	42,271	46,931	45,555	45,983	48,681	44,990	40,297	40,874	35,337
Impairment losses on loans and bonds	-1,019	-7,093	-4,859	-2,807	-9,588	-2,773	-603	1,592	-430
Income tax	-6,460	-5,740	-5,861	-6,382	-5,520	-6,192	-5,247	-5,147	-4,990
Net profit	34,792	34,098	34,836	36,794	33,572	36,025	34,447	37,318	29,918
Profit attributable to non-controlling interest	541	153	153	68	83	314	266	567	421
Profit attributable to owners of the parent	34,250	33,945	34,683	36,726	33,489	35,711	34,181	36,751	29,497

Income statement, 5 years

Income statement, EURt	2024	2023	2022	2021	2020
Net interest income	237,050	228,470	129,487	97,662	69,046
Net fee and commission income	36,443	27,217	32,408	31,172	18,385
Net gains from financial assets	581	2,653	-423	-1,542	877
Other income	2,039	1,736	198	601	211
Total net income	276,113	260,077	161,670	127,894	88,519
Staff costs	-54,108	-44,291	-36,129	-26,721	-21,118
Office rent and expenses	-1,600	-1,719	-1,650	-1,341	-679
IT expenses	-8,083	-6,459	-4,943	-3,890	-2,986
Marketing expenses	-3,855	-2,823	-2,578	-1,936	-1,434
Other operating expenses	-27,728	-29,943	-19,243	-15,451	-10,052
Total operating expenses	-95,374	-85,235	-64,544	-49,339	-36,268
Earnings before impairment losses	180,739	174,841	97,126	78,555	52,251
Impairment losses on loans and bonds	-15,777	-11,372	-2,995	-3,948	-10,898
Income tax	-24,443	-22,107	-13,259	-10,556	-6,750
Net profit	140,519	141,363	80,872	64,051	34,603
Profit attributable to non-controlling interest	915	1,230	2,216	2,290	2,089
Profit attributable to owners of the parent	139,604	140,133	78,656	61,761	32,514

Balance sheet, 9 quarters back

Balance sheet, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Cash and due from banks	3,418,757	2,904,705	2,856,280	3,051,105	2,837,892	2,584,005	2,593,063	2,571,263	2,479,240
Financial assets at fair value	7,474	6,599	8,138	6,126	6,945	4,059	1,008	2,808	407
Financial assets at amortised cost	283,533	238,098	134,631	232,225	321,888	252,431	321,996	278,100	364,230
Financial assets	291,006	244,697	142,768	238,350	328,833	256,490	323,005	280,908	364,636
Loans granted	4,242,868	3,945,390	3,778,631	3,580,995	3,578,569	3,473,082	3,294,760	3,145,248	3,207,566
Allowances for credit losses	-39,069	-41,871	-34,856	-31,556	-30,056	-21,365	-18,927	-18,319	-20,577
Receivables from customers	2,655	7,819	12,620	20,237	17,833	15,545	9,015	7,029	9,254
Tangible and intangible assets	16,898	16,294	16,717	17,661	18,677	15,098	14,692	13,906	13,974
Other assets	3,378	3,422	2,847	3,979	2,896	2,907	3,225	3,028	2,857
Total assets	7,936,494	7,080,455	6,775,009	6,880,770	6,754,644	6,325,761	6,218,833	6,003,063	6,056,950
Demand deposits	4,335,006	3,710,297	3,674,089	3,731,030	3,694,894	3,751,857	4,071,717	4,389,641	4,699,256
Term deposits	1,932,127	1,975,199	1,752,389	1,905,153	1,815,723	1,488,378	1,053,208	526,925	256,978
Accrued interest liability	26,392	30,615	32,902	34,659	24,103	15,292	7,594	2,537	697
Loans received	840,300	601,099	597,294	491,262	486,567	388,608	437,450	485,072	531,989
Loans received and deposits from customers	7,133,825	6,317,211	6,056,674	6,162,103	6,021,287	5,644,134	5,569,969	5,404,175	5,488,920
Other liabilities	69,644	86,574	77,374	113,731	89,275	72,351	76,597	61,974	65,752
Subordinated loans	134,656	114,484	114,033	114,049	114,054	114,036	114,033	114,045	114,056
Total liabilities	7,338,125	6,518,270	6,248,082	6,389,884	6,224,616	5,830,521	5,760,599	5,580,193	5,668,729
Equity	598,369	562,185	526,927	490,887	530,029	495,241	458,234	422,870	388,221
Minority interest	6,401	5,860	5,707	5,554	6,186	6,103	5,789	5,523	6,181
Total liabilities and equity	7,936,494	7,080,455	6,775,009	6,880,770	6,754,644	6,325,761	6,218,833	6,003,063	6,056,950

Balance sheet, 5 years

Balance sheet, EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Cash and due from banks	3,418,757	2,837,892	2,479,240	3,986,933	2,393,258
Financial assets at fair value	7,474	6,945	407	372	232
Financial assets at amortised cost	283,533	321,888	364,230	127,349	322,699
Financial assets	291,006	328,833	364,636	127,720	322,930
Loans granted	4,242,868	3,578,569	3,207,566	2,696,210	2,225,681
Allowances for credit losses	-39,069	-30,056	-20,577	-19,049	-16,858
Receivables from customers	2,655	17,833	9,254	2,968	2,454
Tangible and intangible assets	16,898	18,677	13,974	9,850	7,493
Other assets	3,378	2,896	2,857	4,214	3,900
Total assets	7,936,494	6,754,644	6,056,950	6,808,847	4,938,859
Demand deposits	4,335,006	3,694,894	4,699,256	5,688,575	3,656,827
Term deposits	1,932,127	1,815,723	256,978	159,283	483,301
Accrued interest liability	26,392	24,103	697	-1,255	1,302
Loans received	840,300	486,567	531,989	546,524	468,585
Loans received and deposits from customers	7,133,825	6,021,287	5,488,920	6,393,126	4,610,015
Other liabilities	69,644	89,275	65,752	46,773	25,173
Subordinated loans	134,656	114,054	114,056	88,989	88,989
Total liabilities	7,338,125	6,224,616	5,668,729	6,528,888	4,724,177
Equity	598,369	530,029	388,221	279,959	214,682
Minority interest	6,401	6,186	6,181	6,065	5,875
Total liabilities and equity	7,936,494	6,754,644	6,056,950	6,808,847	4,938,859

Financial, Operational and Regulatory Ratios, 9 quarters back

Financial and operational ratios	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Return on Equity (ROE)	23.9%	25.2%	27.6%	29.1%	26.4%	30.3%	31.4%	36.8%	32.2%
pre-tax ROE	28.3%	29.4%	32.2%	34.1%	30.8%	35.6%	36.2%	42.1%	37.5%
Return on Assets (ROA)	1.9%	2.0%	2.0%	2.2%	2.1%	2.3%	2.3%	2.5%	1.9%
Net Interest Margin (NIM)	3.0%	3.5%	3.5%	3.5%	3.7%	3.8%	3.7%	3.5%	2.9%
Spread	2.8%	3.2%	3.3%	3.3%	3.5%	3.7%	3.6%	3.5%	2.9%
Cost/Income ratio (C/I)	38.5%	32.7%	33.8%	33.2%	32.0%	31.3%	34.3%	33.7%	33.9%
Equity Multiplier (EM)	13.1	12.9	13.6	13.5	12.9	13.3	14.1	15.1	16.8
Loans/Deposits ratio (L/D)	67%	68%	69%	63%	64%	66%	64%	64%	65%
L/D (w-o banking services deposits) ratio	85%	81%	81%	76%	78%	79%	79%	84%	87%
Cost of Risk (CoR)	0.1%	0.7%	0.5%	0.3%	1.1%	0.3%	0.1%	-0.2%	0.1%
Number of Bank Customers (thous.)	456	445	433	428	417	407	401	391	378
Number of Settling Customers (thous.)	214	204	199	195	191	184	180	175	167
Number of Employees (full-time)	885	851	828	789	786	755	749	693	719
Assets under Custody (EURm)	3,984	3,802	3,814	3,825	3,695	3,744	4,374	3,359	3,329
Number of ATM-s	95	95	95	95	95	94	94	96	96
Number of ACQ terminals	13,345	12,803	11,848	14,371	13,676	13,204	12,716	11,948	11,631
Number of incoming payments (thous.)	9,968	8,875	8,417	7,903	7,393	6,739	6,693	6,378	6,538
Number of outcoming payments (thous.)	26,433	24,753	23,841	22,490	20,879	18,531	16,661	14,117	12,189

Regulatory ratios and minimums	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Capital adequacy CT1	15.46%	16.74%	16.84%	16.91%	17.62%	18.77%	18.98%	18.48%	16.74%
CT1 (regulatory minimum)	12.41%	12.41%	12.41%	12.41%	12.41%	11.91%	11.91%	11.91%	11.91%
Capital adequacy T1	17.23%	18.65%	18.80%	18.92%	19.76%	21.02%	21.30%	20.91%	19.13%
T1 (regulatory minimum)	14.55%	14.55%	14.55%	14.55%	14.55%	14.05%	14.05%	14.05%	14.05%
Capital adequacy CAD	19.91%	20.83%	20.99%	21.19%	22.19%	23.58%	23.95%	23.68%	21.86%
CAD (regulatory minimum)	17.40%	17.40%	17.40%	17.40%	17.40%	16.90%	16.90%	16.90%	16.90%
Liquidity coverage ratio LCR (Pank solo)	178%	194%	192%	192%	191%	173%	154%	143%	136%
LCR (regulatory minimum)	100%	100%	100%	100%	100%	100%	100%	100%	100%
Net stable funding ratio NSFR (Pank solo)	150%	157%	155%	159%	158%	152%	148%	142%	145%
NSFR (regulatory minimum)	100%	100%	100%	100%	100%	100%	100%	100%	100%

Financial, Operational and Regulatory Ratios, 5 years

Financial and operational ratios	2024	2023	2022	2021	2020
Return on Equity (ROE)	25.0%	30.9%	24.0%	25.6%	17.3%
pre-tax ROE	29.3%	35.8%	27.9%	29.8%	20.1%
Return on Assets (ROA)	1.9%	2.2%	1.3%	1.1%	0.9%
Net Interest Margin (NIM)	3.2%	3.6%	2.0%	1.7%	1.7%
Spread	3.0%	3.5%	2.0%	1.6%	1.7%
Cost/Income ratio (C/I)	34.5%	32.8%	39.9%	38.6%	41.0%
Equity Multiplier (EM)	13.2	14.1	19.7	24.3	21.2
Loans/Deposits ratio (L/D)	67%	64%	65%	46%	53.3%
L/D (w-o banking services deposits) ratio	85%	78%	87%	74%	71.5%
Cost of Risk (CoR)	0.4%	0.3%	0.1%	0.2%	0.6%
Number of Bank Customers (thous.)	456	417	378	321	258
Number of Settling Customers (thous.)	214	191	167	141	113
Number of Employees (full-time)	885	786	719	571	472
Assets under Custody (EURm)	3,984	3,695	3,329	3,866	2,058
Number of ATM-s	95	95	96	125	125
Number of ACQ terminals	13,345	13,676	11,631	9,339	7,684
Number of incoming payments (thous.)	35,164	27,203	25,059	29,276	18,173
Number of outcoming payments (thous.)	97,517	70,188	42,317	38,016	27,448

Regulatory ratios and minimums	2024	2023	2022	2021	2020
Capital adequacy CT1	15.46%	17.62%	16.74%	14.00%	13.65%
CT1 (regulatory minimum)	12.41%	12.41%	11.91%	8.52%	8.52%

Capital adequacy CT1	15.46%	17.62%	16.74%	14.00%	13.65%
CT1 (regulatory minimum)	12.41%	12.41%	11.91%	8.52%	8.52%
Capital adequacy T1	17.23%	19.76%	19.13%	16.01%	16.23%
T1 (regulatory minimum)	14.55%	14.55%	14.05%	10.16%	10.16%
Capital adequacy CAD	19.91%	22.19%	21.86%	18.66%	19.66%
CAD (regulatory minimum)	17.40%	17.40%	16.90%	13.33%	13.33%
Liquidity coverage ratio LCR (Pank solo)	178%	191%	136%	141%	147%
LCR (regulatory minimum)	100%	100%	100%	100%	100%
Net stable funding ratio NSFR (Pank solo)	150%	158%	145%	164%	154%
NSFR (regulatory minimum)	100%	100%	100%	100%	100%

Return on Equity (ROE) net profit (attributable to the owners of the parent) / average equity (attributable to the owners of the parent) * 100

pre-tax ROE

profit before taxes (attributable to the owners of the parent) / average equity (attributable to the owners of the parent) * 100

Return on Assets (ROA) net profit / average assets * 100

Net Interest Margin (NIM) net interest income / average interest earning assets * 100

Spread

yield on interest-bearing assets - cost of interest bearing liabilities

Cost/Income ratio (C/I) total operating expenses / total net income * 100

Equity Multiplier (EM) average assets / average equity (attributable to the owners of the parent)

Loans/Deposits ratio (L/D) net loans / deposits * 100

Loans/Deposits (w-o banking services) ratio net loans / (deposits - banking services' deposits) * 100

Cost of Risk (CoR)

impairment losses on loans / average loan portfolio, gross

Income statement, 9 quarters back

Income statement, EURt	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Net interest income	9,079	7,211	9,629	8,797	9,647	9,089	7,418	2,763	157
Net fee and commission income	2,144	2,230	2,442	2,562	2,195	2,704	2,209	699	0
Net gains from financial assets	2	-66	-34	-33	5	-13	-66	-1	4
Other operating income	507	-2	0	157	106	0	0	0	0
Total net income	11,731	9,374	12,037	11,483	11,952	11,780	9,561	3,462	162
Staff costs	-6,552	-5,396	-5,091	-5,342	-4,355	-3,993	-3,325	-2,540	-1,825
Office rent and expenses	-390	-297	-389	15	-436	-545	-652	-123	905
IT expenses	-1,445	-1,045	-1,121	-1,051	-1,606	-1,523	-1,767	-1,524	-1,207
Marketing expenses	-354	-35	-74	-21	-46	-58	-130	0	0
Other operating expenses	-2,153	-3,219	-3,146	-1,991	-2,432	-2,385	-2,083	-1,778	-3,138
Total operating expenses	-10,893	-9,992	-9,821	-8,390	-8,875	-8,503	-7,957	-5,965	-5,266
Earnings before impairment losses	838	-618	2,216	3,093	3,078	3,277	1,604	-2,503	-5,104
Impairment losses	-66	-184	-185	-44	-31	-110	-26	-8	0
Income tax	-132	201	-1,093	1,819	0	0	0	0	0
Net profit	640	-602	938	4,868	3,046	3,166	1,578	-2,512	-5,104

Income statement, 5 years

Income statement, EURt	2024	2023	2022	2021
Net interest income	34,715	28,917	60	0
Net fee and commission income	9,378	7,807	0	0
Net gains from financial assets	-131	-75	7	4
Other operating income	662	106	0	0
Total net income	44,625	36,755	67	4
Staff costs	-22,381	-14,213	-4,400	-741
Office rent and expenses	-1,061	-1,756	-109	-365
IT expenses	-4,662	-6,419	-2,411	-27
Marketing expenses	-484	-233	-3	0
Other operating expenses	-10,508	-8,678	-4,814	-1,862
Total operating expenses	-39,095	-31,300	-11,737	-2,995
Earnings before impairment losses	5,529	5,455	-11,670	-2,992
Impairment losses	-479	-176	0	0
Income tax	794	0	0	0
Net profit	5,845	5,279	-11,670	-2,992

Balance sheet, 9 quarters back

Balance sheet, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Cash and cash equivalents	438,052	494,382	381,092	365,090	278,573	268,225	24,711	5,415	13,137
Financial assets	0	0	0	0	0	0	32,717	4,522	0
Loans granted	349,072	223,414	147,274	95,462	79,681	60,874	31,309	23,084	22,140
Allowances for credit losses	-744	-672	-477	-287	-239	-209	-94	-71	-65
Receivables from customers	4,603	3,687	4,153	4,113	1,994	1,895	1,070	853	4
Tangible and intangible assets	5,398	4,516	5,456	7,853	8,351	6,224	6,567	5,517	5,871
Other assets	2,518	2,104	1,985	2,791	956	547	779	528	351
Total assets	798,900	727,430	539,482	475,023	369,316	337,557	97,059	39,848	41,437
Demand deposits	408,734	370,471	260,824	303,889	153,800	133,733	0	0	0
Term deposits	285,399	254,463	179,408	71,007	84,398	989	0	0	0
Accrued interest liability	10,804	10,386	5,950	2,818	777	114	0	0	0
Loans received	0	0	0	0	66,442	137,267	53,115	36	0
Loans received and deposits from customers	704,938	635,320	446,182	377,714	305,418	272,103	53,115	36	0
Other liabilities	7,927	7,677	9,519	13,465	10,396	14,855	7,917	6,282	5,751
Subordinated loans	0	0	0	0	0	0	0	0	0
Total liabilities	712,865	642,997	455,701	391,180	315,813	286,957	61,032	6,318	5,751
Equity	86,036	84,433	83,782	83,843	53,503	50,600	36,027	33,531	35,686
Total liabilities and equity	798,900	727,430	539,482	475,023	369,316	337,557	97,059	39,848	41,437

Balance sheet, 5 years

Balance sheet, EURt	Dec 24	Dec 23	Dec 22	Dec 21
Cash and cash equivalents	438,052	278,573	13,137	8,638
Financial assets at fair value	0	0	0	0
Available-for-sale financial assets	0	0	0	0
Held-to-maturity financial investments	0	0	0	0
Financial assets	0	0	0	0
Loans granted	349,072	79,681	22,140	0
Allowances for credit losses	-744	-239	-65	0
Receivables from customers	4,603	1,994	4	45
Tangible and intangible assets	5,398	8,351	5,871	315
Other assets	2,518	956	351	10
Total assets	798,900	369,316	41,437	9,008
Demand deposits	408,734	153,800	0	0
Term deposits	285,399	84,398	0	0
Accrued interest liability	10,804	777	0	0
Loans received	0	66,442	0	0
Loans received and deposits from customers	704,938	305,418	0	0
Other liabilities	7,927	10,396	5,751	143
Subordinated loans	0	0	0	0
Total liabilities	712,865	315,813	5,751	143
Equity	86,036	53,503	35,686	8,865
Total liabilities and equity	798,900	369,316	41,437	9,008

Financial and Operational Ratios, 9 quarters back

Financial and operational ratios	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Return on Equity (ROE)	3%	-3%	4%	28%	23%	29%	18%	-29%	-57%
Net Interest Margin (NIM)	4.8%	4.6%	7.8%	8.6%	11.2%	17.4%	48.9%	32.4%	1.8%
Cost/Income ratio (C/I)	92.9%	106.6%	81.6%	73.1%	74.3%	72.2%	83.2%	172.3%
Loans/Deposits ratio (L/D)	49.4%	35.1%	32.9%	25.2%	33.2%	45.0%	0.0%	0.0%	0.0%
L/D (w-o banking services deposits) ratio	62.6%	42.3%	40.2%	39.0%	70.9%	3925.6%	0.0%	0.0%	0.0%
Spread	4.3%	4.0%	7.1%	8.0%	10.6%	16.5%	46.0%	0.0%	0.0%
Number of incoming payments (thous.)	207	208	212	224	303	117	0	0	0
Number of outgoing payments (thous.)	349	388	463	478	503	199	0	0	0
Number of Employees (full-time)	213	202	182	168	150	147	130	118	60

Regulatory ratios and minimums	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Capital adequacy CT1	22.50%	30.82%	37.59%	40.41%	28.29%	35.50%	30.65%
CT1 (regulatory minimum)	5.48%	5.48%	5.48%	5.48%	5.48%	5.48%	5.48%
Capital adequacy T1	22.50%	30.82%	37.59%	40.41%	28.29%	35.50%	30.65%
T1 (regulatory minimum)	7.31%	7.31%	7.31%	7.31%	7.31%	7.31%	7.31%
Capital adequacy CAD	22.50%	30.82%	37.59%	40.41%	28.29%	35.50%	30.65%
CAD (regulatory minimum)	9.74%	9.74%	9.74%	9.74%	9.74%	9.74%	9.74%
Liquidity coverage ratio LCR	161%	193%	203%	166%	140%	133%	116%
LCR (regulatory minimum)	100%	100%	100%	100%	100%	100%	100%
Net stable funding ratio NSFR	176%	263%	284%	295%	273%	307%	260%
NSFR (regulatory minimum)	100%	100%	100%	100%	100%	100%	100%

Financial and Operational Ratios, 5 years

Financial and operational ratios	2024	2023	2022	2021	2020
Return on Equity (ROE)	8.4%	11.8%	-52.4%	0.0%	0.0%
Net Interest Margin (NIM)	6.1%	14.7%	0.3%	0.0%	0.0%
Cost/Income ratio (C/I)	87.6%	85.2%	17572.7%	0.0%	0.0%
Loans/Deposits ratio (L/D)	49.4%	33.2%	0.0%	0.0%	0.0%
L/D (w-o banking services deposits) ratio	62.6%	70.9%	0.0%	0.0%	0.0%
Spread	5.6%	14.0%	0.0%	0.0%	0.0%
Number of incoming payments (thous.)	850	420	0	0	0
Number of outgoing payments (thous.)	1,678	702	0	0	0
Number of Employees (full-time)	213	150	60	7	0

Regulatory ratios and minimums	2024	2023	2022	2021	2020
Capital adequacy CT1	22.50%	28.29%
CT1 (regulatory minimum)	5.48%	5.48%
Capital adequacy T1	22.50%	28.29%
T1 (regulatory minimum)	7.31%	7.31%
Capital adequacy CAD	22.50%	28.29%
CAD (regulatory minimum)	9.74%	9.74%
Liquidity coverage ratio LCR	160.74%	140%
LCR (regulatory minimum)	100.00%	100%
Net stable funding ratio NSFR	176.45%	273%
NSFR (regulatory minimum)	100%	100%

Return on Equity (ROE) net profit /

average equity * 100

Net Interest Margin (NIM) net interest income / average interest earning assets * 100

Cost/Income ratio (C/I) total operating expenses / total net income * 100

Loans/Deposits ratio (L/D) net loans / deposits * 100

Loans/Deposits (w-o banking services) ratio net loans / (deposits - banking services' deposits) * 100

Spread

yield on interest-bearing assets - cost of interest bearing liabilities

AS LHV Varahaldus December 2024

Income statement, 9 quarters back

Income statement, EURt	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Fee and commission income	2,262	2,251	2,235	2,187	2,252	2,256	2,211	2,125	2,015
Total net income	2,262	2,251	2,235	2,187	2,252	2,256	2,211	2,125	2,015
Staff costs	-671	-889	-793	-816	-793	-746	-864	-711	-608
Marketing expenses	-115	-115	-72	-105	-142	-104	-149	-123	-113
Other operating expenses	-678	-449	-506	-534	-548	-422	-440	-450	-485
Depreciation, amortization and provisions	-334	-328	-303	-370	-354	-367	-345	-439	-405
Total operating expenses	-1,799	-1,781	-1,674	-1,825	-1,838	-1,639	-1,798	-1,722	-1,610
EBIT	464	470	562	361	415	617	413	403	405
Interest expense	0	0	0	0	0	0	0	0	0
Other financial income and expense	45	113	183	219	125	-12	8	172	136

Total financial income and expense	45	113	183	219	125	-12	8	172	136
Income tax	0	0	0	-801	0	0	0	-488	0

Income statement, 5 years

Income statement, EURt	2024	2023	2022	2021	2020
Fee and commission income	8,936	8,845	7,951	11,375	14,966
Total net income	8,936	8,845	7,951	11,375	14,966
Staff costs	-3,169	-3,114	-2,718	-2,120	-1,871
Marketing expenses	-407	-518	-471	-444	-357
Other operating expenses	-2,168	-1,860	-2,037	-2,204	-2,231
Depreciation and amortization	-1,335	-1,505	-1,851	-5,248	-1,931
Total operating expenses	-7,079	-6,997	-7,077	-10,015	-6,389
EBIT	1,857	1,848	874	1,359	8,577
Interest expense	0	0	0	-14	-95
Other financial income and expense	559	292	-146	591	707
Total financial income and expense	559	292	-146	577	612
Income tax	-801	-488	-830	-1,241	-844
Net profit	1,616	1,652	-103	695	8,345

AS LHV Varahaldus December 2024

Balance sheet, 9 quarters back

Balance sheet, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Cash and cash equivalents	2,982	2,391	1,695	1,635	5,648	3,112	2,084	1,488	3,555

Financial assets at fair value	0	0	0	0	0	0	0	309	390
Receivables and accrued revenue	812	767	776	797	839	777	766	776	720
Other prepaid expenses	244	101	160	242	312	204	156	238	305
Total current assets	4,038	3,259	2,631	2,674	6,799	4,093	3,006	2,810	4,970
Units of funds	6,307	6,282	6,186	6,028	5,856	7,732	7,763	7,666	7,474
Tangible and intangible assets	10,424	10,388	10,398	10,418	10,605	10,678	10,882	10,990	11,235
Total fixed assets	16,731	16,670	16,584	16,445	16,461	18,410	18,645	18,656	18,709
Other assets	3	3	3	3	3	3	3	3	3
Total assets	20,771	19,931	19,217	19,122	23,262	22,506	21,654	21,469	23,681
Subordinated liabilities	0	0	0	0	0	0	0	0	0
Trade payables	406	189	237	279	304	276	219	273	232
Other liabilities	366	377	455	1,240	421	424	423	882	356
Total liabilities	772	566	692	1,520	725	701	642	1,156	589
Share capital	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
Mandatory reserve	683	683	683	683	683	683	683	683	683
Other reserves	1,953	1,828	1,572	1,654	1,469	1,277	1,088	935	800
Accumulated deficit/profit	14,247	14,247	14,247	13,985	17,234	17,234	17,234	17,109	20,211
Income for the accounting period	1,616	1,107	524	-220	1,652	1,112	508	87	-103
Total equity	19,999	19,365	18,525	17,602	22,537	21,806	21,012	20,313	23,092
Total liabilities and equity	20,771	19,931	19,217	19,122	23,262	22,506	21,654	21,469	23,681

Balance sheet, 5 years

Balance sheet, EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Cash and cash equivalents	2,982	5,648	3,555	4,420	3,348
Financial assets at fair value	0	0	390	359	337
Receivables and accrued revenue	812	839	720	3,295	6,949
Other prepaid expenses	244	312	305	283	239
Total current assets	4,038	6,799	4,970	8,358	10,873
Units of funds	6,307	5,856	7,474	7,620	6,788
Tangible and intangible assets	10,424	10,605	11,235	12,205	16,691
Total fixed assets	16,731	16,461	18,709	19,826	23,480
Other assets	3	3	3	3	0
Total assets	20,771	23,262	23,681	28,186	34,352
Subordinated liabilities	0	0	0	0	606
Trade payables	406	304	232	218	216
Other liabilities	366	421	356	326	288
Total liabilities	772	725	589	543	1,109
Share capital	1,500	1,500	1,500	1,500	1,500
Mandatory reserve	683	683	683	683	683
Other reserves	1,953	1,469	800	427	416
Accumulated deficit/profit	14,247	17,234	20,211	24,337	22,300
Income for the accounting period	1,616	1,652	-103	695	8,345
Total equity	19,999	22,537	23,092	27,642	33,243
Total liabilities and equity	20,771	23,262	23,681	28,186	34,352

AS LHV Varahaldus

Financial and Operational Ratios, 9 quarters back

Financial and operational ratios	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Return on Equity (ROE)	10.3%	12.3%	16.5%	-4.4%	9.7%	11.3%	8.1%	1.6%	9.5%
pre-tax ROE	10.3%	12.3%	16.5%	11.6%	9.7%	11.3%	8.1%	10.6%	9.5%
Return on Assets (ROA)	10.0%	11.9%	15.5%	-4.2%	9.4%	11.0%	7.8%	1.5%	9.2%
Cost/Income ratio (C/I)	78.0%	75.3%	69.2%	75.9%	77.3%	73.1%	81.0%	75.0%	74.8%
Number of Pension Fund Customers (thous.)	153	150	153	157	160	157	161	164	164
Number of Employees (full-time)	29	34	38	33	35	35	36	30	31

Financial and Operational Ratios, 5 years

Financial and operational ratios	2024	2023	2022	2021	2020
Return on Equity (ROE)	7.6%	7.2%	-0.4%	2.3%	26.8%

Pre-tax ROE	11.4%	9.4%	2.9%	6.4%	29.5%
Return on Assets (ROA)	7.3%	7.0%	-0.4%	2.2%	25.5%
Cost/Income ratio (C/I)	74.6%	76.6%	90.7%	83.8%	42.7%
Number of Pension Fund Customers (thous.)	153	160	164	170	215
Number of Employees (full-time)	29	35	31	33	29

Return on Equity (ROE) net profit / average equity * 100

pre-tax ROE profit before taxes / average equity * 100

Return on Assets (ROA)

net profit / average assets * 100

Cost/Income ratio (C/I) total operating expenses / total income * 100

AS LHV Varahaldus

Assets under management, 9 quarters back

Fund assets, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
LHV XL	265,629	262,841	256,674	256,099	249,870	236,721	234,811	226,095	205,842
LHV L	850,164	835,121	856,617	875,929	875,098	844,582	858,270	862,885	799,446
LHV M	105,630	105,376	106,834	108,024	107,844	105,206	106,324	106,083	100,044
LHV S	26,322	25,915	26,871	28,062	29,008	27,828	28,885	29,846	28,872
LHV XS	11,554	11,461	11,663	12,023	12,287	11,627	11,969	12,594	12,110
LHV Roheline	30,096	30,972	33,413	38,169	44,682	44,082	50,407	52,375	45,304
LHV Indeks	152,565	141,482	133,691	124,065	109,167	99,464	94,365	85,537	70,997
LHV Roheline III	6,416	7,134	7,015	6,994	7,466	7,316	7,805	7,604	6,930
LHV Indeks III	70,956	61,961	58,534	53,569	47,617	40,227	38,047	34,491	30,679
LHV Aktiivne III	31,495	31,186	30,194	29,420	28,711	26,774	26,431	26,028	24,933
LHV Maailma Aktsiad Fond	7,434	7,954	7,775	7,430	7,363	7,512	7,441	7,498	7,020
Total assets	1,558,262	1,521,404	1,529,281	1,539,783	1,519,113	1,451,339	1,464,755	1,451,036	1,332,178

Quarterly returns	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
LHV XL	-1.4%	2.2%	2.2%			1.3%			4.8%
				2.9%	2.8%		0.3%	2.3%
LHV L	0.6%	1.2%	2.7%	2.9%	2.2%	1.4%	-0.1%	2.0%	2.8%
LHV M	0.9%	1.8%	2.1%	1.5%	2.8%	1.2%	0.3%	1.5%	1.6%
LHV S	1.2%	2.8%	1.4%	1.6%	3.6%	1.1%	0.8%	1.1%	0.4%
LHV XS	0.8%	2.4%	1.2%	1.5%	3.7%	1.1%	0.7%	1.0%	0.4%
LHV Roheline	-5.8%	1.9%	-0.4%	-5.3%	-1%	-8.2%	-1.2%	5.0%	-2.5%
LHV Indeks	4.2%	1.9%	4.7%	8.7%	5.0%	-0.1%	4.2%	4.3%	-0.6%
LHV Roheline III	-5.7%	1.8%	-0.2%	-6.0%	-0.3%	-8.4%	-1.5%	4.6%	-2.8%
LHV Indeks III	4.2%	1.9%	4.7%	8.7%	4.9%	0.1%	4.2%	4.3%	-0.7%
LHV Aktiivne III	-2.0%	2.6%	1.8%	3.0%	3.1%	0.9%	0.1%	1.8%	5.0%

Assets under management, 5 years

Fund assets, EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
LHV XL	265,629	249,870	205,842	209,538	231,725
LHV L	850,164	875,098	799,446	824,531	1,003,441
LHV M	105,630	107,844	100,044	106,715	145,347
LHV S	26,322	29,008	28,872	33,723	53,420
LHV XS	11,554	12,287	12,110	14,323	24,620
LHV Roheline	30,096	44,682	45,304	44,636	4,697
LHV Indeks	152,565	109,167	70,997	57,032	38,529
LHV Roheline III	6,416	7,466	6,930	5,972	2,146
LHV Indeks III	70,956	47,617	30,679	23,923	10,136
LHV Aktiivne III	31,495	28,711	24,933	21,328	18,988
LHV Maailma Aktsiad Fond	7,434	7,363	7,020	7,409	4,025
Total assets	1,558,262	1,519,113	1,332,178	1,349,128	1,537,074

Annual returns	2024	2023	2022	2021	2020
LHV XL	5.9%	6.9%	2.8%	10.0%	7.6%
LHV L	7.6%	5.6%	3.6%	9.0%	5.0%
LHV M	6.5%	5.9%	2.4%	5.3%	0.9%
LHV S	7.1%	6.7%	-2.2%	-0.1%	0.2%
LHV XS	6.2%	6.7%	-3.6%	-0.2%	0.4%
LHV Roheline	-9.5%	-5.6%	-19.8%	2.9%	94.8%
LHV Indeks	20.8%	14.0%	-14.3%	22.8%	-0.8%
LHV Roheline III	-9.9%	-5.9%	-20.0%	4.6%	10.0%
LHV Indeks III	20.7%	14.1%	-14.2%	22.7%	5.1%
LHV Aktiivne III	5.5%	6.0%	-0.3%	8.1%	8.6%
LHV Maailma Aktsiad Fond	2.1%	4.3%	-13.6%	18.1%	8.4%

Income statement, 9 quarters back

Income statement, EURt	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Net earned premiums	9,429	8,930	8,485	8,124	7,541	7,097	6,284	5,116	3,723
Commissions expense	1,236	1,168	1,102	1,036	920	863	729	557	355
Gross incurred losses	6,529	5,878	5,360	5,351	4,664	4,438	4,024	3,820	2,824
Operating expenses	1,460	1,220	1,387	1,307	1,350	1,164	1,220	1,031	922
Insurance result without reinsurance	204	663	636	430	606	632	312	-292	-378
Reinsurance result	155	306	215	286	251	308	272	187	147
Total result from insurance activities	49	357	421	144	355	325	40	-479	-526
Net other income	19	95	1	112	68	-26	-6	29	-1
Income tax expense	0	0	0	0	0	0	0	0	0
Net profit	68	452	422	256	423	299	33	-450	-527

Income statement, 5 years

Income statement, EURt	2024	2023	2022	2021	2020
Net earned premiums	34,969	26,038	9,652	2,498	0
Commissions expense	4,542	3,068	840	112	0
Gross incurred losses	23,118	16,946	6,884	1,210	0
Operating expenses	5,375	4,766	3,153	1,894	551
Insurance result without reinsurance	1,934	1,258	-1,225	-718	-551
Reinsurance result	962	1,018	440	108	0
Total result from insurance activities	971	240	-1,666	-826	-551
Net other income	226	64	-28	4	0
Income tax expense	0	0	0	1	0
Net profit	1,198	305	-1,693	-823	-551

Balance sheet, EURt	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22
Cash and cash equivalents	11,188	13,772	13,337	15,602	14,022	12,697	11,898	12,122	13,086
Financial assets	12,491	8,954	8,177	5,590	5,652	5,606	5,804	3,608	1,084
Receivables and accrued revenue	104	53	70	40	28,335	23,011	18,579	13,334	10,844
Tangible and intangible assets	1,359	1,451	1,569	1,615	1,713	1,732	1,755	1,235	1,268
Other receivables and assets	226	340	475	689	2,582	2,431	2,415	2,625	1,576
Reinsurance assets	2,044	712	514	561	3,265	2,428	2,707	2,234	2,034
Total assets	27,411	25,282	24,142	24,096	55,569	47,904	43,158	35,159	29,892
Insurance contracts liabilities (LCR and UPR)	9,821	9,741	9,745	10,028	17,208	16,461	16,061	14,418	11,735
Liabilities for incurred claims (LIC)	5,437	5,174	4,047	3,994	3,997	3,765	3,629	3,131	2,327
Reinsurance liabilities	0	0	0	0	279	240	232	232	202
Other liabilities from insurance activities	0	0	0	0	18,425	12,340	8,264	3,536	2,798
Tax liabilities	265	229	231	217	227	170	124	158	150
Payables to employees	304	277	305	295	233	197	214	206	171
Subordinated loans	3,153	3,153	3,153	3,153	2,133	2,133	2,133	1,455	767
Other liabilities	1,948	300	712	903	7,821	7,774	7,976	7,619	6,664
Total liabilities	20,928	18,875	18,194	18,589	50,322	43,081	38,633	30,756	24,814
Share capital	8,000	8,000	8,000	8,000	8,000	8,000	8,000	8,000	8,000
Share option reserve	209	201	194	249	245	244	246	157	145
Accumulated deficit/profit	-2,924	-2,924	-2,924	-2,999	-3,303	-3,303	-3,303	-3,303	-1,373
Income for the accounting period	1,198	1,130	678	256	305	-118	-417	-450	-1,693
Total equity	6,483	6,408	5,948	5,507	5,247	4,823	4,526	4,403	5,078
Total liabilities and equity	27,411	25,282	24,142	24,096	55,569	47,904	43,158	35,159	29,892

Balance sheet, 5 years

Balance sheet, EURt	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Cash and cash equivalents	11,188	14,022	13,086	9,359	7,349
Financial assets	12,491	5,652	1,084	155	0
Receivables and accrued revenue	104	28,335	10,844	3,666	0
Tangible and intangible assets	1,359	1,713	1,268	966	233
Other receivables and assets	226	2,582	1,576	398	0
Reinsurance assets	2,044	3,265	2,034	315	0
Total assets	27,411	55,569	29,892	14,859	7,583
Insurance contracts liabilities (LCR and UPR)	9,821	17,208	11,735	4,248	0
Liabilities for incurred claims (LIC)	5,437	3,997	2,327	529	0
Reinsurance liabilities	0	279	202	36	0
Other liabilities from insurance activities	0	18,425	2,798	486	0
Tax liabilities	265	227	150	104	48
Payables to employees	304	233	171	112	62
Subordinated loans	3,153	2,133	767	0	0
Other liabilities	1,948	7,821	6,664	2,696	23
Total liabilities	20,928	50,322	24,814	8,212	133
Share capital	8,000	8,000	8,000	8,000	8,000
Share option reserve	209	245	145	21	0
Accumulated deficit/profit	-2,924	-3,303	-1,373	-551	0
Income for the accounting period	1,198	305	-1,693	-823	-551
Total equity	6,483	5,247	5,078	6,647	7,449
Total liabilities and equity	27,411	55,569	29,892	14,859	7,583

Financial and Operational Ratios, 9 quarters back

Financial and operational ratios	IV kv-24	III kv-24	II kv-24	I kv-24	IV kv-23	III kv-23	II kv-23	I kv-23	IV kv-22
Return on Equity (ROE)	4.2%	29.3%	29.4%	19.1%	33.6%	25.6%	3.0%	-38.0%	-39.5%
pre-tax ROE	4.2%	29.3%	29.4%	19.1%	33.6%	25.6%	3.0%	-38.0%	-39.5%
Return on Assets (ROA)	1.1%	7.3%	7.0%	2.6%	3.3%	2.6%	0.3%	-5.5%	-7.7%
Net loss ratio	68.7%	66.6%	63.0%	67.3%	61.2%	64.8%	66.6%	78.0%	78.0%
Net expense ratio	32.0%	29.0%	32.1%	31.3%	32.1%	30.4%	33.4%	33.4%	38.8%
Number of Customers (thous.)	170	169	168	164	161	160	159	155	150
Number of Employees (full-time)	56	55	56	54	51	47	46	39	38

Financial and Operational Ratios, 5 years

Financial and operational ratios	2024	2023	2022	2021	2020
Return on Equity (ROE)	20.4%	5.9%	-28.9%	-11.7%	-19.1%
Pre-tax ROE	20.5%	5.9%	-28.9%	-11.7%	-19.1%
Return on Assets (ROA)	2.9%	0.7%	-7.6%	-7.3%	-18.8%
Net loss ratio	66.5%	66.8%	73.9%	48.7%
Net expense ratio	31.1%	32.2%	46.0%	87.7%
Number of Customers (thous.)	170	161	150	143
Number of Employees (full-time)	56	51	38	28	11

Return on Equity (ROE) net profit / average equity * 100

pre-tax ROE profit before taxes / average equity * 100

Return on Assets (ROA) net profit / average assets * 100

Net loss ratio

net incurred losses / net earned premiums * 100

Net expense ratio

(paid commissions - reinsurance commissions + administrative expenses + depreciation) / net earned premiums * 100

ESG data back

Sustainability indicator		Impact (year 2023)	Definition
Greenhouse gas	Scope 1 GHG emissions Scope 2 GHG emissions Scope 3 GHG emissions Total GHG emissions Activities in the fossil fuel sector	0 737 tCO2 eq 729 538 tCO2 eq 730 275 tCO2 eq No activities in fossil fuel sector	"Scope 1, 2 and 3 GHG emissions" means the scope of greenhouse gas emissions referred to in points (1)(e)(i) to (iii) of Annex III to Regulation (EU) 2016/1011 of the European Parliament and of the Council "Companies active in the fossil fuel sector" means companies that derive any revenues from exploration, mining, extraction, production, processing, storage, refining or distribution, including transportation, storage and trade, of fossil fuels as defined in Article 2, point (62), of Regulation (EU) 2018/1999 of the European Parliament and of the Council
emissions	Share of non-renewable energy consumption and production	Share of non-renewable energy consumption: 79%. No production of energy	"Renewable energy sources" means renewable non-fossil sources, namely wind, solar (solar thermal and solar photovoltaic) and geothermal energy, ambient energy, tide, wave and other ocean energy, hydropower, biomass, landfill gas, sewage treatment plant gas, and biogas. "Non-renewable energy sources" means energy sources other than those referred.
	Energy consumption intensity per high impact climate sector	No activities in high impact climate sector	"High impact climate sectors" means the sectors listed in Sections A to H and Section L of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council
Biodiversity	Activities negatively affecting biodiversity-sensitive areas	No impact	"Biodiversity-sensitive areas" means Natura 2000 network of protected areas, UNESCO World Heritage sites and Key Biodiversity Areas ('KBAs'), as well as other protected areas, as referred to in Appendix D of Annex II to Commission Delegated Regulation (EU) 2021/2139
Water	Emissions to water	No impact	"Emissions to water" means direct emissions of priority substances as defined in Article 2(30) of Directive 2000/60/EC of the European Parliament and of the Council and direct emissions of nitrates, phosphates and pesticides
Waste	Hazardous waste & radioactive waste generated	No impact	"Hazardous waste" means hazardous waste as defined in Article 3(2) of Directive 2008/98/EC of the European Parliament and of the Council. "Radioactive waste" means radioactive waste as defined in Article 3(7) of Council Directive 2011/70/Euratom.
	Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for	To the best of our knowledge we have not been involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises	"UN Global Compact principles" means the ten Principles of the United Nations Global Compact
Social and employee matters	Unadjusted gender pay gap Board gender diversity	32% 12.5% female	"Unadjusted gender pay gap" means the difference between average gross hourly earnings of male paid employees and of female paid employees as a percentage of average gross hourly earnings of male paid employees Board means the administrative, management or supervisory body of a
			company
	Involvement in manufacture or selling of controversial weapons	No	Controversial weapons: antipersonnel mines, cluster munitions, chemical weapons and biological weapons

The information disclosed here is a selection of sustainability related data on LHV Group operations. It is not designed to be used for any specific purpose. For further information on sustainability matters please refer to the LHV Group Annual Report 2023

https://www.lhv.ee/assets/files/investor/LHV_Group_Annual_Report_2023-EN.pdf

Share information, 9 quarters back

	Q4-24	Q3-24	Q2-24	Q1-24	Q4-23	Q3-23	Q2-23	Q1-23	Q4-22
Number of shares (thousands)	324,189	324,189	324,189	319,833	319,833	319,833	319,833	315,425	315,425
Share price (at the end of the period, EUR)	3.25	3.22	3.41	3.54	3.50	3.68	3.61	3.62	3.34
Market capitalization (EURm)	1,052	1,044	1,105	1,132	1,118	1,175	1,155	1,140	1,054
EPS (EUR)	0.11	0.11	0.12	0.13	0.10	0.12	0.11	0.10	0.08
P/E (last 4 quarters)	7.1	7.2	7.3	7.7	8.0	9.0	11.3	14.2	17.6
P/B	1.6	1.7	1.9	1.9	2.0	2.3	2.4	2.6	2.6
DPS (EUR)				0.13				0.04
Presumed net dividend per share (EUR)*	0.02	0.02	0.02	0.03	0.02	0.02	0.02	0.02	0.02
Number of shareholders	38,646	38,971	40,168	39,117	37,547	36,847	35,940	34,473	32,001
Shares traded during the period (thousands)	3,546	3,160	5,022	6,413	3,454	3,515	4,609	5,378	3,406
Number of trades	23,301	20,200	27,448	28,880	24,888	21,693	29,634	32,543	24,724
Trading volume (EURt)	11,788	10,729	17,407	22,710	12,254	12,658	16,386	19,983	10,963
Weighted average share price of the period	3.32	3.39	3.47	3.54	3.55	3.60	3.56	3.72	3.22
Index OMX Tallinn	1,733	1,679	1,745	1,743	1,769	1,855	1,888	1,867	1,767
Index OMX Baltic	1,463	1,418	1,451	1,441	1,442	1,468	1,475	1,473	1,384
Shares held by members of the Management	44%	46%	46%	46%	46%	46%	46%	47%	47%

Share information, 5 years

	2024	2023	2022	2021	2020
Number of shares (thousands)	324,189	319,833	315,425	298,642	288,191
Share price (at the end of the period, EUR)	3.25	3.50	3.34	4.32	1.95
Market capitalization (EURm)	1,052	1,118	1,054	1,290	562
EPS (EUR)	0.46	0.44	0.19	0.20	0.13
P/E	7.1	8.0	17.6	22.1	14.8
P/B	1.6	2.0	2.6	4.1	2.4
DPS (EUR)	0.13	0.04	0.04	0.03	0.02
Presumed net dividend per share (EUR)*	0.09	0.09	0.04	0.04	0.03
Number of shareholders	38,646	37,547	32,001	20,404	10,714
Shares traded during the period (thousands)	18,142	16,956	8,313	2,888	2,831
Number of trades	99,829	108,758	118,271	79,660	37,105
Trading volume (EURt)	62,634	61,281	81,585	99,146	36,073
Weighted average share price of the period	3.45	3.61	9.81	34.33	12.74
Index OMX Tallinn	1,733	1,769	1,767	2,001	1,344
Index OMX Baltic	1,463	1,442	1,384	1,569	1,105
Shares held by members of the Management	44%	46%	47%	47%	48%

TOP 10 shareholders as of 31 December 2024

Name of the shareholder	Stake	Number of shares
AS Lõhmus Holdings	11.5%	37,162,070
Viisemann Investments AG	10.9%	35,210,370
Rain Lõhmus	7.9%	25,449,470
Krenno OÜ	3.8%	12,446,070
AS Genteel	3.5%	11,310,000
Ambient Sound Investments OÜ	3.3%	10,828,210
SIA KRUGMANS	2.2%	7,188,990
Bonaares OÜ	2.1%	6,691,020
OÜ Merona Systems	1.9%	6,037,590
AS AMALFI	1.7%	5,437,640

EPS

net profit (attributable to the owners of the parent) / number of shares

P/E latest share price / earnings per share

P/B latest share price/ book value per share

DPS

net dividend paid during the period/ number of the shares at that moment

Presumed net dividend per share (EUR)* Based on the Dividend Policy approved by the General Meeting of LHV Group on 20 March 2024. The annual General Meeting of shareholders decides dividend payments and does not have to take into account the Dividend Policy

Weighted average share price of the period: Trading volume of the period / number of shares traded during the period

Stock information is obtained from Nasdaq Baltic webpage: http://www.nasdaqbaltic.com/market/

Subordinated bonds issued by AS LHV Group back

	6.00% T2 bond	10.5% T2 bond	6,00% T2 bond
ISIN	EE3300001791	EE3300003573	EE3300004993
Ticker	LHVB060030A	LHVB105033A	LHVB060034A
Total number of securities	35,000	35,000	20,000
Nominal value (EUR)	1,000	1,000	1,000
Issue value (EUR)	35,000,000	35,000,000	20,000,000
Listing date	01.10.2020	02.10.2023	18.11.2024
Maturity date	30.09.2030*	29.09.2033**	15.11.2034***
Coupon rate (annual)	6.00%	10.50%	6.00%
Coupon frequency	quarterly	quarterly	quarterly

	9.50% AT1 bond	10.50% AT1 bond
ISIN	EE3300001668	EE3300002856
Total number of securities	150	200
Nominal value (EUR)	100,000	100,000
Issue value (EUR)	15,000,000	20,000,000
Listing date	26.05.2020	02.12.2022
Maturity date	unfixed	unfixed
Coupon rate (annual)	9.50%	10.50%
Coupon frequency	quarterly	quarterly

* According to the Terms of the Bonds 30.09.2030, the Company is entitled to redeem the Bonds 30.09.2030 prematurely at any time after the lapse of 5 years as from the date of issue, i.e. at any time after 30.09.2025, by notifying the bondholders at least 30 days in advance. The Company is further entitled to redeem the Bonds 30.09.2030 prematurely before the lapse of the 5-year term if there is a change in the regulative classification of the Bonds 30.09.2030 resulting in the Bonds 30.09.2030 being, in the opinion of the Company, excluded from the classification as own funds of a credit institution or if there is a significant change in the taxation regime applicable in respect of the Bonds 30.09.2030, provided that the Company was not in a position to foresee such changes upon the issue of the Bonds 30.09.2030. If this early redemption right is exercised by the Company, the rate of return from an investment into the Bonds may be lower than initially anticipated.

The bondholders are not entitled to claim early redemption of the Bonds 30.09.2030 under any circumstances.The Bonds 30.09.2030 may be redeemed prematurely by the Company on the above-described grounds only if the FSA (or the EBA if it is in the competence thereof) has granted its consent to the early redemption.

** Bonds are issued with a maturity of 10 years with the maturity date on 29 September 2033. According to the Bond Terms, the LHV Group is entitled to redeem the Bonds prematurely at any time after the lapse of 5 years as from the date of issue by notifying the bondholders at least 30 days in advance. The LHV Group is further entitled to redeem the Bonds prematurely before the lapse of the 5-year term if there is a change in the regulative classification of the Bonds resulting in the Bonds being, in the opinion of the LHV Group, excluded from the classification as own funds of a credit institution or if there is a significant change in the taxation regime applicable in respect of the Bonds, provided that the LHV Group was not in a position to foresee such changes upon the issue of the Bonds.

The Bonds may be redeemed prematurely by the LHV Group on the above-described grounds only if the European Central Bank or such other competent authority has granted its consent to the early redemption. The bondholders are not entitled to claim early redemption of the Bonds under any circumstances.

***Bonds are issued with maturity of 10 years with the maturity date on November 15, 2034. According to the Bond Terms, the LHV Group is entitled to redeem the Bonds prematurely at any time after the lapse of 5 years as from the date of issue by notifying the bondholders at least 30 days in advance.The LHV Group is further entitled to redeem the Bonds prematurely before the lapse of the 5-year term if there is a change in the regulative classification of the Bonds resulting in the Bonds being, in the opinion of the LHV Group, excluded from the classification as own funds of a credit institution or if there is a significant change in the taxation regime applicable in respect of the Bonds, provided that the LHV Group was not in a position to foresee such changes upon the issue of the Bonds.

Financial Calendar 2025 back

11.02.2025	Q4 2024 and unaudited full year results
13.02.2025	Disclosure of financial plan
18.02.2025	January results
04.03.2025	Audited annual report for 2024
12.03.2025	February results
26.03.2025	General meeting of shareholders
08.04.2025	Ex-dividend date (ex-date)
22.04.2025	Q1 interim results
13.05.2025	April results
17.06.2025	May results
22.07.2025	Q2 interim results
12.08.2025	July results
16.09.2025	August results
21.10.2025	Q3 interim results
18.11.2025	October results
16.12.2025	November results

Contacts

Madis Toomsalu

LHV Group CEO [email protected]

Meelis Paakspuu LHV Group CFO [email protected]

AS LHV Group

Registry code: 11098261 Tartu mnt 2, 10145 Tallinn Telephone 6 800 400 [email protected]

AI assistant

LHV Group — Investor Presentation 2025

2219_ir_2025-02-11_18302fe5-3ee0-4ff6-971f-ee28adb78a04.pdf

AS LHV Group December 2024

LHV Factbook

Table of Contents

Legal structure

Strategy and financial plan back

Credit ratings back

Income statement, 9 quarters back

Income statement, 5 years

Balance sheet, 9 quarters back

Balance sheet, 5 years

Financial and Operational Ratios, 9 quarters back

Financial and Operational Ratios, 5 years

Capital ratios, 5 years

MREL-LRE

Loans by economic sectors, 9 quarters back

Loans by economic sectors, 5 years

Quality of loans as at December 2024 back

Quality of loans, 5 years

Liabilities, 9 quarters back

Liabilities, 5 years

Other risk indicators, 9 quarters back

Other risk indicators, 5 years

Liquidity coverage ratio (LCR), 9 quarters back

Liquidity coverage ratio (LCR), 5 years

Net stable funding ratio (NSFR), 9 quarters back

Net stable funding ratio (NSFR), 5 years

Income statement, 9 quarters back

Income statement, 5 years

Balance sheet, 9 quarters back

Balance sheet, 5 years

Financial, Operational and Regulatory Ratios, 9 quarters back

Financial, Operational and Regulatory Ratios, 5 years

Income statement, 9 quarters back

Income statement, 5 years

Balance sheet, 9 quarters back

Balance sheet, 5 years

Financial and Operational Ratios, 9 quarters back

Financial and Operational Ratios, 5 years

AS LHV Varahaldus December 2024

Income statement, 9 quarters back

Income statement, 5 years

AS LHV Varahaldus December 2024

Balance sheet, 9 quarters back

Balance sheet, 5 years

AS LHV Varahaldus

Financial and Operational Ratios, 9 quarters back

Financial and Operational Ratios, 5 years

AS LHV Varahaldus

Assets under management, 9 quarters back

Assets under management, 5 years

Income statement, 9 quarters back

Income statement, 5 years

Balance sheet, 5 years

Financial and Operational Ratios, 9 quarters back

Financial and Operational Ratios, 5 years

ESG data back

Share information, 9 quarters back

Share information, 5 years

TOP 10 shareholders as of 31 December 2024

DPS

Subordinated bonds issued by AS LHV Group back

Financial Calendar 2025 back

Contacts

Madis Toomsalu

AS LHV Group

More from LHV Group

LHV Group Investor Presentation 2025