Umweltbank Ag · XETR:UBK
Umweltbank — Q1 2026 Earnings Presentation
56 slides from Umweltbank's earnings presentation, May 2026
Slide 1: Investor Presentation 1st Quarter 2026
Investor Presentation 1st QuarterInvestor 2026 Presentation 1st Quarter 2026 of UmweltBank AG The figures as of December 31, 2025, are preliminary and unaudited. No audit is planned for the figures as of March 31, 2026. All figures relate to UmweltBank AG (HGB). The figures as of December 31, 2025,
Slide 2: Disclaimer
Disclaimer The figures as of December 31, 2025, are preliminary and unaudited. No audit is planned for the figures as of March 31, 2026. These figures relate to UmweltBank AG (HGB). This presentation contains forward-looking statements in the form of a scenario (2026 2028). Forward-looking statement
Slide 3: Vision and Mission
Since its founding over 25 years ago, UmweltBank has been committed to sustainable finance and the green transformation of society. Vision Mission Together, we are creating We're making money a world worth living in green for ourselves and future generations. We combine economics and ecology by offe
Slide 4: Reduced regulatory capital requirements and cost-cutting program
UmweltBank AG benefits from reduced regulatory capital requirements. Cost-cutting and efficiency program with significant impact in 2026. • Improved regulatory position leads to an initial reduction in regulatory capital add-ons by 60 basis points and a total capital requirement of 14.97% starting i
Slide 5: Progress toward operational profitability; 2026 earnings forecast
UmweltBank is making progress toward achieving operational profitability. Earnings forecast for 2026 is between 12.5 and 17.5 million euros. Earnings before taxes and provisions in • UmweltBank is making progress toward operational profitability and achieved a slightly positive pre-tax profit 12.5 1
Slide 6: Earnings forecast 2026 and 2027/2028 scenario
Earnings forecast for 2026 in the range of Earnings ranges unchanged in the 2027/2028 scenario. Earnings before taxes and provisions • Revenue drivers through 2028: in • Significant increase in deposits from retail 80 customers • Further expansion of the product and service 60 range for retail custo
Slide 7: Overall Bank Strategy
Overall Bank Strategy: Focus on growth, customer needs, product diversity, and efficiency #1 We attract customers (deposits) and increase new Scaled growth loan volume. in the core business #2 We are sensibly expanding our product portfolio and Expansion of product exploring entry into new areas to
Slide 8: Cost- and efficiency-saving program of approximately 13 million euros
UmweltBank is consistently pursuing a cost- and efficiency-saving program worth approximately 13 million euros and is accelerating its implementation. Expected savings in 2024 2025 2026 millions of euros H1 H2 H1 H2 H1 H2 2026 2027 Digitization of all paper documents 0.5 0.5 Process standardization
Slide 9: Cost and efficiency program savings versus growth investments
The cost and efficiency program is expected to generate total savings of approximately million in the current fiscal year. This will more than offset the planned growth investments of Cost and 2025 Efficiency 2026 Growth Investments 2026 Program IT due to Pro forma Staff expansion Marketing for high
Slide 10: 2024 and 2025 at UmweltBank: #WarpSpeed
2024 and 2025 at UmweltBank: #WarpSpeed Launch Trustpilot UmweltBank Launch of score: Launch Bond ETF customer-centric UmweltBank End of the Special investment advice 1.7/5.0 Website relaunch Equity ETF Representative duties Listing Scale Launch segment, Deutsche Checking Account Börse H1 2024 H2 20
Slide 11: Expansion of product and service portfolio 2026-2028
2026 2028: Significant expansion of the product and service portfolio planned Expansion of the UmweltBank fund portfolio Financing of Contracting (Heat, Electricity) - European Equity ETF - European Corporate Bond ETF - European Sovereign Bond ETF UmweltHaus: Construction, Private Construction Move-
Slide 12: Fresh design and digital advertising for green investments
Fresh design, optimized terms, and more digital advertising formats for our green investments - get loud 12
Slide 13: New employer brand
With our new employer brand, we are positioning UmweltBank as an attractive employer 13
Slide 14: Retail Banking
Retail Banking
Slide 15: Retail Customer Strategy
Retail Customer Strategy: We will become the sustainable universal bank Growth in the core business: We are leveraging our Customer Growth brand and market positioning, further expanding them, and aim to grow to 500,000 customers by 2028. Design Universal Bank Product Range: We are gradually and Exp
Slide 16: Solid demand in retail banking in Q1 2026
Solid demand in the retail banking segment in the first quarter of 2026, with a significant increase in demand for the UmweltBank checking account Retail customer deposits Number of customers Customer deposit volume in bn in thousands in 260 5.4 195 687 700 4.3 4.3 184 620 3.5 155 556 549 132 2.5 23
Slide 17: UmweltGiro checking account
Following an update of the terms and conditions for UmweltGiro in early 2026, the bank is seeing an increase in new accounts UmweltGiro the checking account from UmweltBank • Update of terms and conditions in Q1 2026 with a clear focus on customer needs • In the first year: fee, credit card & giroca
Slide 18: Expansion of in-house sustainability funds and ETFs
Continuous expansion of the investment portfolio with in-house sustainability funds. An ETF product expansion initiative is planned for 2026. Europe SDG Focus Equity ETF Focus: Europe Sustainable Europe Green Future Global SDG Focus Green & Social ISIN: LU2078716052 ISIN: LU2373430185 ISIN: LU267927
Slide 19: Scenario 2028 retail banking growth
Scenario 2028 with an ambitious growth trajectory and significant economies of scale in the retail banking business. Retail customer deposits Number of customers Customer deposit volume in bn in thousands in 5.8 6.2 5.4 500 1.000 4.3 840 3.5 370 687 700 2.5 620 556 260 155 184 132 23 24 25 26 27 28
Slide 20: Corporate Business
Corporate Business Bürgerwind Fuchstal, Bavaria ©UmweltBank AG
Slide 21: Corporate Banking Strategy
Corporate Banking Strategy: Growth in the core business and diversification Growth in the core We leverage our deep expertise and network to business achieve disproportionate growth in the market. New business areas such as battery storage and PPA Diversification and financing for wind power project
Slide 22: Capital ratio enables growth in corporate banking
Capital ratio of approximately 16.8% as of March 31 enables significant growth in corporate banking in 2026 targeting new business of Loan volume Gross new lending • A successful capital increase in 2025 and a reduction in in bn in regulatory capital requirements this year will significantly expand
Slide 23: Cumulative new business 2026
Cumulative new business of totaling Total confirmed New loan volume Actual: Advanced loan Additional loan Loans in preparation new business in Q1 2026 negotiations inquiries Q1 Q3 Renewable energy 31 140 48 ~ 220 ~ 300 Real estate projects 5 57 24 ~ 80 ~ 200 Total 36 ~ 200 ~ 70 ~ 300 ~ 500 Expected
Slide 24: Diversified loan portfolio with a focus on Germany
Diversified loan portfolio with a focus on Germany Countries and regions Sectors Other federal states 18% Hesse Sustainable Real 5% Estate Saxony 38% 5% Solar Energy 34% Schleswig- Bavaria Holstein 25% 8% 100% Germany Lower Saxony 7% Berlin Wind Energy North Rhine-Westphalia Other Projects 9% 13% 22
Slide 25: Diversified loan portfolio with improving credit ratings
Solid, diversified loan portfolio of UmweltBank with improving credit ratings Loan portfolio (in Breakdown of loan portfolio by rating (in %) 1.400 60 1.200 50 1.000 800 40 600 30 400 20 200 10 0 Solar energy Wind energy Sustainable real Other Projects 0 estate 2023 2024 2025 Volume AAA+ to BBB- BB+
Slide 26: NPLs expected to decline
NPLs are expected to decline significantly to below 3% in 2026, with approximately 1.5% in the recovery phase. Risk provisions (in Non-performing loans (NPL) (in % of credit risk volume) +2.5 4.5 of which 3.7 </= ~1.5% in recovery -2.5 3.3 ~1.5% under observation 3.0 -3.8 -6.0 </= 1.5 0.2 23 24 25 2
Slide 27: Financing the green transition
We will continue to drive forward the financing of the green transition of our economy and position ourselves for the future. Collegium Fuchstal Academicum, Community Wind Heidelberg Farm, Bavaria ©Philipp Garschke © UmweltBank AG Dippoldiswalde Solar Park, Saxony ©Sabowind Service GmbH 27
Slide 28: Scenario 2028 loan volume and new lending
Scenario 2028: To ensure the optimal use of our equity capital, we assume a temporarily stable loan volume with a gradual increase in new lending. Loan volume Gross new lending • The green transformation of in bn in the German economy continues to advance. • Demand remains high for 3.8 both renewabl
Slide 29: Treasury
Treasury
Slide 30: Expansion of the treasury portfolio
Gradual expansion and reinvestment of the treasury portfolio with a diversified focus to increase net interest income. Expansion of ~ Asset class Maturity 65% 28% Highlights 18% 13% 71% 93% 14% 15% 4% 13% 13% HQLA ECB-eligible Ø-RWA 10% 9% 6% 5% • Investment portfolio of approximately billion 1y 2y
Slide 31: Build-up of proprietary investment portfolio
We are gradually building up our proprietary investment portfolio and expect it to make a positive contribution to net interest income. Retail customer deposits • We plan to build up our proprietary investment in bn portfolio in line with rising customer deposits. 5.8 6.2 5.4 4.3 • As the yield curv
Slide 32: Business volume growth and net interest income
with growth in business volume is expected to lead to higher net interest income as planned. Scenario Schematic representation Ø 2025 Ø 2026 in in bps in in bps • New business (overnight) due to Proprietary investments Overnight a new customer 2,100 100 120 bps 2,200 70 90 bps Maturity-matched inves
Slide 33: Income and Expenses Planning
Income and Expenses Planning
Slide 34: Total income: net interest, financial and commission income
Total income, at -year figure ( -year financial result was influenced by a one-time effect. Net interest income Net financial income Net commission and trading income in in in 60 65 58.4 10 - 15 17.6 45.0 13.0 12.4 4-8 5.5 7.1 13.7 12.5 0.6 1.0 1.2 24 25 26e Q1 Q1 24 25 26e Q1 Q1 24 25 26e Q1 Q1 25
Slide 35: Scenario 2028 net interest and commission income
Scenario 2028: A significant increase in net interest income, accompanied by a rise in net commission income. Net interest income Net fee and trading income in in 140 40 Scenario Scenario 120 30 100 20 80 60 10 40 0 23 24 25 26 27 28 23 24 25 26 27 28 • Net interest income is expected to benefit fro
Slide 36: Administrative expenses significantly reduced
Overall administrative expenses were significantly reduced compared to the same quarter of the previous year. Personnel expenses increased as planned due to new hires. • Planned increase in personnel Personnel expenses Other administrative expenses expenses due to the reversal of a in in provision i
Slide 37: Efficiency Goals by 2028
The ongoing efficiency program will be consistently continued and expanded to include active cost management and operational excellence. • In 2026, the following topics will be further Efficiency pursued. Goals by 2028 • Following the successful migration of the core banking system, the focus is now
Slide 38: AI-supported telephone customer service
Significant increase in efficiency in telephone customer service through voice-controlled call reason recognition and automated call summarization UmweltAssistant Incoming calls AI-powered knowledge bot • Significant increase in efficiency and service quality in customer support through the use of A
Slide 39: IT partner Atruvia enables scaling
With our IT partner Atruvia, we can scale efficiently and consistently expand our portfolio with new products and services. • Atruvia serves over 900 banks* (including all Volks- and Raiffeisenbanks in Germany). • Atruvia manages approximately 91 million customer accounts* with more than 9.3 billion
Slide 40: Other administrative expenses 30% lower in Q1 2026
Other administrative expenses in the first quarter of 2026 were approximately 30% lower than in the same quarter of the previous year. Further cost-saving effects are expected over the course of the year. Objectives of the Cost Other administrative expenses Q1 Q2 Q3 Q4 Q1 Efficiency Program in 2025
Slide 41: Scenario 2028 workforce and personnel expenses
Scenario 2028: In the short term, UmweltBank anticipates an increase in its workforce, which will then decline and stabilize in subsequent years due to efficiency gains. Employees Personnel expenses (Year-end, FTE excl. Students, in excl. vacant positions) • scalability has 369 32.5 33 33 already be
Slide 42: Scenario 2028 administrative costs
Scenario 2028: Decline in administrative costs in 2026 expected. Significant increase in subsequent years due to the introduction of the checking account. Other administrative expenses 2023 2024 2025 2026 2027 2028 Other administrative in expenses IT expenses 11.1 9.1 10.2 11 14 15 in Marketing expe
Slide 43: Capital Planning
Capital Planning
Slide 44: Reduced regulatory capital add-ons; 14.97% requirement from April 2026
An improved regulatory position has led to an initial reduction in regulatory capital add-ons by 60 basis points. Starting in April 2026, the capital requirement will be 14.97%. Capital in % Total capital ratio 18,0 16.4 16.9 16.2 15.7 15.6 15.8 15.6 Total capital requirement 16,0 according to scena
Slide 45: Capital Requirements of UmweltBank AG
Capital Requirements of UmweltBank AG Overview of regulatory capital requirements, broken down by capital components Capital requirements as of April 2026 (including a 60-basis-point reduction in regulatory capital add-ons) March 31, 2026 CET1 AT1 Tier 2 Total Total Minimum capital ratio 4.50% 1.50%
Slide 46: Outlook
Outlook
Slide 47: Targets 2028
UmweltBank plans to continue on its growth trajectory: The chosen path is expected to significantly increase the by 2028. Gross new loan Return on equity volume (before taxes) 500,000 Retail Targets Cost-to-income 2028 Customers customer deposits ratio 47
Slide 48: Analysts see upside potential for UmweltBank shares
Analysts see significant upside potential for UmweltBank shares Analyst estimates Rating Analyst Date Price Rating Rating Date Rating Outlook target agency Warburg April 24, Buy Fitch July 7, 2025 BBB- stable Research 2026 Montega March 2, Buy AG 2026 March 3, GBC AG Buy 2026 Ø 48
Slide 49: Reasons for a sustainable investment in UmweltBank
Reasons for a sustainable investment in UmweltBank Strong brand for sustainable Experts in the green banking transition Focus on Profitability UmweltBank benefits from the Over 25,000 financed renewable After two years of transformation, societal trend towards sustainability energy projects and sust
Slide 50: Appendix
Appendix Figures as of March 31, 2026
Slide 51: General Financial Data for UmweltBank AG
General Financial Data for UmweltBank AG 2022 2023 2024 2025 Q1 / 2025 Q1 / 2026 Business volume 6,602 6,119 6,504 7,007 6,559 7,034 Total assets 5,981 5,688 6,186 6,803 6,262 6,828 Customer deposits 3,176 2,854 3,824 4,544 3,930 4,595 Environmental loans (including outstanding commitments) 3,703 3,
Slide 52: UmweltBank AG Financials - Risk Ratios
UmweltBank AG Financials - Risk Ratios 2022 2023 2024 2025* Q1 / 2025 Q1 / 2026* Regulatory capital 504 524 505 521 504 519 of which: Tier 2 capital 111 110 101 98 100 97 of which: Tier 1 capital 393 414 404 423 404 422 of which: Additional Tier 1 (AT1) capital 26 26 26 26 26 26 of which: Common Equ
Slide 53: Financials Revenues and Expenses
UmweltBank AG Financials Revenues and Expenses 2022 2023 2024 2025 Q1 / 2025 Q1 / 2026 Net interest income 58,791 41,106 44,950 58,448 13,662 12,530 Financial result 24,829 -2,641 12,978 17,565 12,383 619 Provisions for risks (expense (-) / income (+)) -9,291 4,509 -3,767 -6,028 -15 1,434 Valuation
Slide 54: UmweltBank Figures - Overview
UmweltBank Figures - Overview Business volume ( AUM UmweltBank funds ( 7,007 7,034 290 282 6,602 6,504 6,119 131 151 152 22 23 24 25 Q1/26 22 23 24 25 Q1/26 2025: Including bond ETF in the treasury portfolio Environmental loans ( Customer deposits ( 4,544 4,595 3,703 3,722 3,457 3,118 3,101 3,824 3,
Slide 55: Financials Income Statement
UmweltBank Financials Income Statement Operating income ( Net provision for credit losses ( 4.5 90.9 84.3 76 86 -2.5 +2.5 62.6 47.6 -3.8 -6.0 -9.3 22 23 24 25 26e 22 23 24 25 26e Pre-tax profit ( Net income ( 39.2 19.5 14.3 12.5 17.5 6.4 -5.6 -8.5 0.7 0.7 n.a. 22 23 24 25 26e 22 23 24 25 26e * Opera
Slide 56: Additional Key Figures
UmweltBank Figures Additional Key Figures Cost-to-income ratio (in %) Net interest income / Total assets Net interest income / RWA* (in %) (in %) 111.2 109.3 1.8 1.9 91.8 98.5 1.6 80 - 85 1.0 1.2 1.5 0.9 68.6 0.7 0.7 0.7 22 23 24 25 Q1/26 22 23 24 25 26e Q1/26 22 23 24 25 Q1/26 Liquidity Coverage Ra