Slide 1: FY 2025 Preliminary Results
FY 2025 Preliminary Results Earnings call March 12, 2026 1
Slide 2: Important notice
Important notice This presentation contains, or may be deemed to contain, All forward-looking statements included herein are based on forward-looking statements. These statements relate to future information currently available to Multitude and, accordingly, events or future financial performance of
Slide 3: Key takeaways
Key takeaways • Group revenue development stable: Interest income reduced slightly, largely compensated by increase in fee income • Asset quality significantly improved and credit losses down 15.4% • Significant increase in net profit: up 31.7% y-o-y to EUR 26.6m exceeding guidance of EUR 24 – 26m •
Slide 4: Multitude - Creating success stories in fintech since 2005
Multitude - Creating success stories in fintech since 2005 Founded in EU wide Prime Standard, Finland in 2005 banking licence Frankfurt Stock Exchange “Since foundation, we have focused on helping customers 1 3 5 who are overlooked by traditional banks, with amazing and fully Shared platform Busines
Slide 5: Vision and Mission
Our vision is to build the most valuable financial platform for overlooked customers VISION MISSION Building the most valuable Democratise financial services financial platform for through digitalisation, making overlooked customers them fast, easy & green 5
Slide 6: The Multitude Growth Platform: Enabling Scalable, Diversified Growth
The Multitude Growth Platform: Enabling Scalable, Diversified Growth CONSUMER BUSINESS WHOLESALE INVESTMENTS & PLATFORM BANKING BANKING BANKING PARTNERSHIPS CUSTOMERS PLATFORM Fast Attractive Global Cross-selling CUSTOMER Scalability execution funding talent opportunities VALUE GROWTH PLATFORM CENTR
Slide 7: We focus on dynamics that will realise our strategy
We focus on dynamics that will realise our strategy CUSTOMER VALUE Value creation to overlooked REVENUE end-customers and platform COST GROWTH customers REDUCTION Grow the Multitude platform Degressive cost development via Organic, Partnerships, as we scale the platform and M&A 7
Slide 8: Multitude Group highlights FY 2025
Multitude Group highlights FY 2025 Stable revenue trajectory combined with significant increase in net profit Highlights FY 2025 Focus going forward • Group revenue development stable at EUR 256.9m (2024: 263.7m) and in line • Focus on 3 main initiatives to accelerate our revenue growth and with exp
Slide 9: Consumer Banking highlights FY 2025
Consumer Banking highlights FY 2025 Disciplined execution: strengthened asset quality combined with high profitability levels Highlights FY 2025 Focus going forward 3-Year Target • Interest income reduced slightly, largely • Diversify revenues and increase recurring • 10% EBT CAGR 2025 - 2028 compen
Slide 10: SME Banking highlights FY 2025
SME Banking highlights FY 2025 Strengthening portfolio quality and clear path to profitability Highlights FY 2025 Focus going forward 3-Year Target • Q4 revenue growth moderated due to the shift • Focus on transitioning Capital Box to sustainable • Single digit positive EBT 2026 followed by 50% CAGR
Slide 11: Wholesale Banking highlights FY 2025
Wholesale Banking highlights FY 2025 Strong profitable growth with carefully selected institutional clients Highlights FY 2025 Focus going forward 3-Year Target 2026 • Net loans and investments increased by 90% to • Grow the secured debt portfolio • A 50% EBT CAGR 2025 - 2028 EUR 252m • Expand Payme
Slide 12: FY 2025 Results
FY 2025 RESULTS IFRS unaudited financial results for the 12 months ended 31 December 2025 12
Slide 13: FY 2025: Profit & loss statement
FY 2025: Profit & loss statement Excellent financial performance in EURm FY 2025 FY 2024 %/pp change Net profit up 31.7% - Interest income 241.9 261.1 (7.3) exceeding Guidance: Interest expense (44.4) (40.9) 8.8 Net interest income 197.5 220.2 (10.3) Fee and commission income 15.0 2.6 472.9 • Intere
Slide 14: Balance sheet: Increased loan volumes reflect continued market demand
Balance sheet: Increased loan volumes reflect continued market demand in EURm FY 2025 Q4 2024 % change Asset movements: Cash and cash equivalents 304.2 249.5 21.9 • Increase of 23.2% in net loans and Derivative financial assets 0.6 0.1 - investments* : from EUR 762.5 m in Loans to customers 832.0 64
Slide 15: Balance sheet: Liabilities and Equity
Balance sheet: Liabilities and Equity in EUR m FY 2025 Q4 2024 % change Movements in liabilities and shareholders’ equity: Equity Share capital • Equity of the Group increased to EUR 40.2 40.2 (0.0) Treasury shares 208.0m (+7.3%) (1.6) (0.9) 69.6 Retained earnings 111.8 98.2 13.9 • Net equity ratio
Slide 16: Segment view – business unit performance
Segment view – business unit performance in EURm Consumer Banking SME Banking Wholesale Banking Group 12M 2025 12M 2024 % change 12M 2025 12M 2024 % change 12M 2025 12M 2024 % change 12M 2025 12M 2024 % change Interest income 187.5 214.4 (12.5) 34.6 33.6 2.8 19.8 13.1 51.4 241.9 261.1 (7.3) Interest
Slide 17: Credit loss development: Actions taken result in significantly lower credit losses
Credit loss development: Actions taken result in significantly lower credit losses Group credit loss Consumer credit loss SME credit loss Wholesale Banking development development development credit loss development EURm EURm EURm EURm 30 28 30 30 30 25 24 25 24 23 25 23 25 25 22 22 22 21 21 20 20 2
Slide 18: Strong asset quality: Significant improvement over the year
Strong asset quality Significant improvement over the year Balanced growth strategy drives asset quality Impairment losses / Net loans and investments* improvements: 6.0% • Long-term trend: reducing impairment losses over net loans and investments, reflecting solid business growth and 5.0% 5.0% robu
Slide 19: Funding structure and cost of debt capital
Funding structure and cost of debt capital Financing mix at 31 December 2025 Financing mix at 31 December 2024 4% 2% 5% Deposits 7% 8% EUR 1,035 m EUR 800m Multitude Capital Oyj 6.75% + 3-month Euribor bond, due 2028 EUR 84m EUR 77m EUR 45m EUR 45m Multitude AG 8.90% + 3-month Euribor perpetual (IFR
Slide 20: Capital Market Guidance and indicative targets 2025-2028
Capital Market Guidance and indicative targets 2025-2028 Net Profit Guidance 2025: 1 24-26m EUR exceeded Net Profit Guidance 2026: 2 30m EUR confirmed Net Profit Guidance 2027 & 2028: 3 20% increase p.a. Business Targets: 4 • • Consumer banking: 10% EBT CAGR SME Banking: Single digit positive EBT 20
Slide 21: Key takeaways
Key takeaways • Group revenue development stable: Interest income reduced slightly, largely compensated by increase in fee income • Asset quality significantly improved and credit losses down 15.4% • Significant increase in net profit: up 31.7% y-o-y to EUR 26.6m exceeding guidance of EUR 24 – 26m •
Slide 22: Q&A
Q&A 22
Slide 23: Thank you
Thank you ir@multitude.com www.multitude.com