Slide 1: Webinar on 9M 2024 consolidated financial results
IND=EXO- Webinar on 9M 2024 consolidated financial results (A OX Valdis Siksnis Ivita Asare Henrik Karmo AS INDEXO Banka AS INDEXO Banka IPAS INDEXO Chairman of the Board Chief Financial Officer Chairman of the Board . IND=EXO November 6, 2024
Slide 2: Another strong quarter for INDEXO Group
Another strong quarter for INDEXO Group with 43% y-o-y revenue growth in pension business and first 10 000 customers joining INDEXO Bank Pension business delivering solid financial results and generates cash flow to support INDEXO Group further development IND=XO" INDEXO 24 and 3: pension pillar equ
Slide 3: Impressive growth of AUM and Clients
Impressive growth of AUM and Clients Total AUM, millions EUR 468 179 279 2019 2020 2021 5% 4% 4% 3% 2019 2020 585 2022 7% A% 2021 9% 6% 2022 ry I N >) = xX e) Data source: quarterly reports, manapensija.|v data, internal data 2023 9M 2023 9M 2024 12% 7% 2023 Bo 2019 9M 2023 49 2020 9M 2024 Total Cli
Slide 4: Pension business delivering strong results
Pension business d el ive ri n g st ro n g Quarterly net profit/ (loss) of pension business, thousand EUR results, Q3 result impacted by ors operational 7 12 expense one-offs a | 121 Ql 2024 Q2 2024 Q3 2024* ™Net profit/ (loss) = Net profit/ (loss) excl. non-pension business costs and after an accur
Slide 5: Our business growth in 2nd pillar can be attributed to growing contributions
Our business growth in 2nd pillar can be 24 Pillar pension AUM growth drivers Q3 2023- Q3 2024 attri buted to growing Millions EUR, based on management estimates monthly contributions and new customers 196 Eg ~— joining INDEXO Tie oy 795 | From: 8.5 million euro in September 2023 To: 10.2 million eu
Slide 6: INDEXO has the highest AUM per client
INDEXO has the highest AUM per client and the gap between us and competitors is increasing Manager Yearly Change of % change AUM per client, EUR Competitor 5 1478 27.6% Competitor 2 810 13.7% Competitor 7 1287 26.8% Competitor 3 1400 31.3% Competitor 6 854 23.3% Competitor 4 494 13.3% _ a IND=EXO Da
Slide 7: INDEXO pension business strong and profitable
INDEXO pension business strong and profitable to support INDEXO Group Increase in the client base and AUM have contributed to 43% y-o-y growth in commission income Administrative expense increase by 11% y-o-y driven by higher costs in several positions Pension business net profit in September 94 372
Slide 8: Pension business challenges and opportunities
Pension business challenges and opportunities New fee scheme in process Churn management Contributions expected to drop from 6% to 5% 2°¢ Pillar API launch 3'4 Pillar promotion through bank app IND=XO"
Slide 9: INDEXO Bank launch media coverage
kuru vals oe Labas zinas ; . arm, IND=EXO BEIDZC Darbu sakusi "Ind Latvijai _ banka Crane uzsak darbibu! SS [PRTG] ziedot.tv/Ukrainai; 90204113 (5 €) TieSraide: INDEXO Bankas atklaSanas pasakums Lidz tieSraides sakumam: 28 Beidzot minates 28.08. | plkst. 9.00 banka, par kuru var teikt Beidzot banka,
Slide 10: Average median customer onboarding time
*average median time for more than 6000 customers from phone verification sms till signing of general transaction rules
Slide 11: Impressive growth has continued during the second operating month
Impressive growth has continued during the second operating month. Deposits almost doubled # of Clients, thousands Deposits, million EUR Consumer Loans, million EUR ¢ a ole -* ees Cy clo,” ape--" oy & ° oor “ a ~ - - - End of September 2024 End of October 2024 End of September 2024 End of October 20
Slide 12: 93% rate INDEXO Bank's account setup as easy
93% rate INDEXO Bank’s account setup as easy. High marks for app design & cost satisfaction Account opening 4 6 Highest-rated aspects: ° out of 5 rocess P * Ease of use Mobile app design 4.3 cuors * Functionality ¢ Performance & speed Plan costs 4 ° O out of 5 1 ry I N ») S xX (@) Data source: delfi
Slide 13: We continue to develop our mobile app
We continue to develop our mobile app Since launch we have already had 6 new versions of the application ; Already fixed 200+ bug fixes and made small improvements 2 ale ©) Visible improvements such as: * daily visualization of earned interest and taxes withheld for deposits and vault; * full e-sign
Slide 14: The Bank is continuously improving its product offering
The Bank is continuously improving its product offering and during 2025 the offering for Retail customers will be considerably extended Q4 Ql Q2 Q3 Q4 2024 2025 2025 2025 2025 Improvements and bug fixes Regular payments Mortgage lending Family accounts Google / Apple pay 2PLin Mobile app Servicing o
Slide 15: INDEXO Bank Profit and Loss Statement Jan-Sept 2024
Jan-Sept 2024 INDEXO Bank Profit and Loss Statement, EUR Unaudited, EUR H Interest income 189 795 | N D EXO Ba n k IS Interest expense (35 029) operational Just Commission and fee income 1848 for 1 month with Commission and fee expense (39 347) f t Net foreign exchange losses (857) ocus on Customer
Slide 16: INDEXO Bank continues to make significant IT investments
INDEXO Bank continues to make significant IT investments = =y INDEXO Data source: internal data Sept 2024 INDEXO Bank Balance sheet, EUR Unaudited, EUR ASSETS Other demand deposits at central banks 15 756 133 Financial assets measured at amortized cost 332 815 of which consumer loans 283 324 Due on
Slide 17: INDEXO Bank capital was increased by 2.3MEUR in September
The INDEXO Bank capital was increased by 2.3MEUR in September to support the ongoing business development Tier 1 Capital MEUR Capital adequacy ratios and minimum requirement* 90.70% 89.55% The goal of the Bank's capital management is to ensure continuity of me the Bank's business and ability to gene
Slide 18: Total capital raised during 2024 will reach 12.3 million EUR
Total capital raised during 2024 will reach 12.3 million EUR as planned in financial forecasts SPO expected ° resented during SPO ees" 2024-2.17M 1.00 9.01 | WAGE 14.94 + Due to delay of the bank launch* financial forecast for Indexo = spo Group 2024 was updated Tl expected -5.53 S equity by the = e
Slide 19: INDEXO Bank, finally, is in the market to take its fair share
INDEXO Bank, finally, is in the market to take its fair share IND=XO" & Addressable oligopolistic market of 622 million banking . profits in 2023, and 304 million in H] 2024 is ripe for disruption Huge underserved lending market opportunity, estimated to be 5+ bn building market share quickly in Est
Slide 20: Find out more: indexo.lv/dubulto-algu
Find out more: indexo.lv/dubulto-algu
Slide 21: APPENDICES
APPENDICES
Slide 22: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 4 =y INDEXO Data source: internal data Jan-Sept 2024 Jan-Sept 2023 Unaudited, EUR Unaudited, EUR Commission and fee income 3169 518 Commission expense (44110) Interest income calculated using the effective interest rate 224054 Administrative expenses (6
Slide 23: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position IND=XO" Data source: internal data Sept 2024 Sept 2023 Unaudited, EURUnaudited, EUR ASSETS Cash and cash equivalents 17149975 3.848 531 Financial assets measured at amortized cost (incl.loans) 406 251 80813 Receivables 395 248 271477 Prepayments. 155 141