Slide 1: Track record since IPO
TRACK RECORD SINCE IPO 250 25,000 200 20,000 150 15,000 SEK million 100 10,000 50 5,000 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 16 16 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 21 21 21 21 22 22 22 22 23 23 23 23 2
Slide 2: Year-end report January – December 2025
YEAR-END REPORT January – December 2025
Slide 3: Highlights October – December 2025
HIGHLIGHTS OCTOBER – DECEMBER 2025 • 6 % growth in local currencies during the quarter Operating profit • Operating profit SEK 242 million, +29% vs Q4-2024 +29% 242 – The Credit Cards segment drives EPS 188 – Improved C/I – the business continues to scale well • Dividend proposal of SEK 5.00 per sha
Slide 4: Becoming Avarda
BECOMING AVARDA • The plan to change corporate name to As of Q2 20162) As of Q4 20252) Avarda Bank is progressing 2.8 bn 46.5 bn Transaction volume • From Nordic niche bank to pan-European Transaction volume credit and payment platform 0.3 mn Number of customers 3.4 mn Number of customers Share of l
Slide 5: Loan book growth
LOAN BOOK GROWTH 1) 23% 25,000 6% • TF Bank: Q4 = 6% – Year-on-year 23% 20,000 • Credit Cards: Q4 = 10% – Year-on-year 48% SEK million 15,000 • Ecommerce Solutions: Q4 = 10% 10,000 – Year-on-year 4% 5,000 • Consumer Lending: Q4 = 0% – Year-on-year 6% 0 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 TF Bank Credit Ca
Slide 6: Growth and diversification
GROWTH AND DIVERSIFICATION Market update Loan book split by market2) Germany: Credit card product in high demand and increased profitability. Launch of credit offering in Ecommerce Solutions during Q4 2024 and Consumer Germany 42% Lending during Q2 2025 Norway 19% Norway: Strong profits in Consumer
Slide 7: Credit Cards
Segment CREDIT CARDS Share of TF Bank's loan book Share of TF Bank’s operating income Highlights • The loan portfolio close to SEK 12 bn – German and Austrian market the main drivers 50% 53% • 401 k active cards in Germany, +31% YoY • Continued scalability in the business model Segment description 1
Slide 8: Ecommerce Solutions
Segment ECOMMERCE SOLUTIONS Share of TF Bank's loan book Share of TF Bank’s operating income Highlights • Transaction volume growth of 37% vs Q4-2024 – Attributed to the recent addition of new major partnerships 12% 17% – Increased operating income in coming quarters to be expected • Development of
Slide 9: Consumer Lending
Segment CONSUMER LENDING Share of TF Bank's loan book Share of TF Bank's operating income Highlights • Focus on controlled risk levels and selective expansion • Credit offering in most recently launched markets, Germany and Denmark, progressing according to plan 38% 30% • Operations consolidated int
Slide 10: Stable risk-adjusted margin
STABLE RISK-ADJUSTED MARGIN 798 748 690 668 657 • Risk-adjusted income1) – Stable risk-adjusted margin2) SEK Million 8.9% 9.0% 8.5% 8.6% 8.7% • Operating income – Credit Cards the main driver • Net loan losses 235 252 277 – Driven by growth in Credit Cards 224 232 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Opera
Slide 11: Opex – cost/income ratio by segment
OPEX – COST/INCOME RATIO BY SEGMENT 70% 60% 63% 61% 61% 61% • Operating expenses Q4-25 vs. Q4-24, +14% 58% – Positive trend for Credit Cards 50% • Cost/income ratio per segment in Q4-25 – Credit Cards 29% 40% 37% 37% 38% 35% 35% – Ecommerce Solutions 63% 33% 33% 33% 31% 32% 32% 34% – Consumer Lendin
Slide 12: Increased profit year-on-year
INCREASED PROFIT YEAR-ON-YEAR 29% 242 231 195 • Operating profit Q4-25 vs. Q4-24, +29% 188 188 – Driven by segment Credit Cards SEK million – Adjusted earnings per share, 2.83 SEK (2.081), +36% • Strong profitability in Q4-2025 – Adjusted return on loans to the public, 3.1% (2.61) – Adjusted return
Slide 13: Credit Cards
Segment CREDIT CARDS 136 81% 120 96 • Operating profit Q4-25 vs. Q4-24, +81% 75 80 – Growing operating income SEK million 9.4% • Return on loans to the public, 3.7% (2.8) 9.1% 9.1% – Higher risk-adjusted margin 8.8% 8.5% – Economies of scale Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Operating profit Risk-adjust
Slide 14: Ecommerce Solutions
Segment ECOMMERCE SOLUTIONS 33 -62% 26 24 23 • Operating profit Q4-25 vs. Q4-24, -62% – Recalibration of NPL model, one-off impact of approximately SEK -10 million SEK million 13 – Start-up costs related to new major partnerships • Return on loans to the public, 1.5% (3.8) 15.4% 15.3% 15.7% 15.5% 14
Slide 15: Consumer Lending
Segment CONSUMER LENDING 17% 100 93 84 85 80 80 76 • Operating profit Q4-25 vs. Q4-24, +17% – Improved risk-adjusted margin 60 – Recalibration of NPL model, one-off impact of SEK million 6.8% 6.9% approximately SEK +10 million 40 6.6% 6.6% 6.4% • Return on loans to the public, 3.1% (2.6) 20 – Mainta
Slide 16: Funding and liquidity
FUNDING AND LIQUIDITY Deposits from the public 24,692 24,000 20,000 • Retail deposits in Europe Germany (SEK 17.4 billion) 16,000 Netherlands (4.9 billion) Nordics2) (SEK 0.6 billion) SEK million 12,000 Other3) (SEK 1.9 billion) – Fixed-term deposits: 44% 8,000 • Available liquidity reserve: 18% of
Slide 17: Capital situation
CAPITAL SITUATION 17.7%1) 1.6% 15.7%1) T1+T2 16.1% 14.5%1) 1.5% Headroom 3.2% T1 14.2% 1.5% • Strong capital ratios Headroom 3.6% T1+T2 12.9% Headroom 4.1% • Significant headroom to T1 10.6% T1 10.6% regulatory requirements CET1 13.0% • Reissuance of T2 instruments CET1 8.9% CET1 8.9% CET1 8.9% • Pr
Slide 18: Looking ahead
LOOKING AHEAD • Continue delivering on our financial targets • Strong opportunities for further growth in Credit Cards • Take our operations into the next phase 18
Slide 19: Q&A Session
CF) TFBank — ‘Bik aes as z =| - 49
Slide 20: Appendix
CF) TFBank — ‘Bik aes aS es : 20
Slide 21: Corporate profile
CORPORATE PROFILE Our Products Our Geographical footprint We are a fast-growing digital credit and payment We serve customers in the Nordics, Germany, Austria, platform operating in 14 European countries. Through Spain, the Baltics, Poland, Ireland, the Netherlands our proprietary IT infrastructure,
Slide 22: Long track record of profitable growth
LONG TRACK RECORD OF PROFITABLE GROWTH Long experience and proven Strong track record on business model growth and profitability • 35 years+ experience from Loan portfolio consumer finance industry 27,000 2,400 24,000 • Highly profitable core markets 21,000 2,000 with proven model for 18,000 1,600 S
Slide 23: Board of Directors
BOARD OF DIRECTORS John Brehmer Arti Zeighami Sara Mindus Chairman of the Board since 2020 Board member since 2023 Board member since 2020 Board member since 2010 Current commitments: Current commitments: Current commitments: Partner & Director, Senior advisor Board member: Besqab AB (publ), Chairma
Slide 24: Executive Directors
EXECUTIVE DIRECTORS Joakim Jansson Mikael Meomuttel CEO CFO, Deputy CEO and Head of Investor Relations Education: PhD in Economics, Uppsala University. Education: MSc, Business/Economics and Finance, University of Borås/University of Gothenburg. At TF Bank since 2023 as CEO. Has previously held lead
Slide 25: Contact
Contact Investor relations Mikael Meomuttel +46 706 26 95 33 ir@tfbank.se www.tfbankgroup.com 25