Slide 1: Interim Presentation Q4-2025
INTERIM PRESENTATION Q4-2025
Slide 2: Highlights
Record profit after tax Profit after tax reached a record 47.8 MNOK, an increase of 17.2 MNOK from Q3 2025, positively impacted by year-end tax adjustments and a net positive effect from the sale of NPLs Strong income growth and cost discipline Strong lending growth drove solid income development in
Slide 3: The Northern European Digital Challenger Bank
The Northern European Digital Challenger Bank NOK 571 m 1 Challenger bank with a solid market position and growth potential in attractive markets Adjusted Growth in Gross lending Q4 25 38 % 2 Lean operational platform with significant scalability enabling cross border operations Cost / income ratio
Slide 4: Profitable Growth with European Ambition
Profitable Growth with European Ambition Instabank is a profitable Nordic challenger bank combining fintech scalability with banking solidity. With 35 consecutive profitable quarters, we are now positioned to leverage our pan-Nordic platform for high-margin growth across both B2C and B2B segments. W
Slide 5: Gross lending and margin developments
Gross lending and margin developments
Slide 6: Segments | Unsecured consumer lending
Segments | Unsecured consumer lending HIGHLIGHTS GROSS LOANS (MNOK) Yield • The unsecured consumer lending segment experienced growth of 73 MNOK in the fourth quarter, or 374 MNOK when adjusted for non- Consumer loans Consumer loans Consumer loans performing loan (NPL) sales. 2,985 -56 12,3 % • In G
Slide 7: Segments | Mortgages
Segments | Mortgages HIGHLIGHTS GROSS LOANS (MNOK) Yield • The mortgages segment returned to growth in the fourth quarter, increasing by 73 MNOK to 3,708 MNOK in gross lending at quarter-end. 3,708 8,3 % • The segment delivers strong profitability, driven by attractive yields, low risk, and lower ca
Slide 8: Segments | Business lending
Segments | Business lending HIGHLIGHTS GROSS LOANS (MNOK) Yield • The Business lending segment continued to grow in the quarter, with gross lending increasing by 125 MNOK to 982 MNOK, accounting for 12 982 17,5 % % of total lending. • The segment has delivered the highest profitability among Instaba
Slide 9: Gross loans development | Well diversified loan book
Gross loans development | Well diversified loan book GROSS LOANS BALANCE GROWTH (MNOK) KEY COMMENTS: 835 • In the fourth quarter, Instabank achieved growth in gross lending of 270 MNOK. 543 334 368 270 • Instabank successfully sold non-performing loans (NPLs) in Norway and Finland, 242 178 168 amoun
Slide 10: Yields and funding cost | Attractive margins
Yields and funding cost | Attractive margins LENDING AND LIQUIDITY YIELD, INTEREST RATE DEPOSITS: KEY COMMENTS: 18.0 % 17.9 % 17.8 % 17.7 % 17.5 % • Highly attractive yield for business lending at 17.5 %. The reduction from the previous quarter is linked to an increase in ticket size 13.9 % 13.3 % 1
Slide 11: Profitability, risk and capital
Profitability, risk and capital
Slide 12: 35 consecutive quarters with profits
Q4-16 -8.0 Q1-17 -3.2 Q2-17 2% 1.2 Q3-17 2.2 Q4-17 4% 3% 2.1 Q1-18 6% 4.0 Q2-18 8% 6.7 Q3-18 7.0 Q4-18 7% 8% 8.3 Q1-19 3% 3.3 Q2-19 7% 9.6 Q3-19 13.3 10% Q4-19 15.1 11% Q1-20 4% 5.3 Q2-20 8% 9.9 Q3-20 13.2 Q4-20 14.3 Q1-21 14.0 10% 11% 10% Q2-21 19.5 14% Q3-21 24.4 Q4-21 25.5 17% 17% Q1-22 20.6 13%
Slide 13: Total income | High growth in income
Total income | High growth in income TOTAL INCOME (MNOK): KEY COMMENTS: 175.5 156.3 144.1 134.5 126.4 ▪ Solid growth in Total income of 19.2 MNOK from the previous quarter to 175.5 MNOK ▪ Total interest income increased by 20.1 MNOK from the previous quarter to 243.6 MNOK in Q4 2025, because of stro
Slide 14: Operating expenses | Economy of scale
Operating expenses | Economy of scale OPERATING EXPENSES BREAKDOWN (MNOK): KEY COMMENTS: 64.2 66.1 67.3 61.2 62.1 2.7 3.2 3.1 3.0 3.6 ▪ Operating expenses reached 67.3 MNOK, an increase of 1.2 MNOK from the 23.5 22.2 23.4 previous quarter. 25.9 25.0 8.4 9.6 9.3 6.0 7.0 24.8 27.5 29.3 22.8 22.9 ▪ The
Slide 15: Credit risk | Mortgages represent low credit risk
Credit risk | Mortgages represent low credit risk IMPAIRMENT LOSSES (MNOK): KEY COMMENTS: 60.0 54.7 10.0 % 51.0 49.7 ▪ Loan losses amounted to 54.7 MNOK or 2.6 % , representing an increase of 5.0 50.0 41.6 8.0 % MNOK/ +0.1 % points from the previous quarter 40.0 32.2 6.0 % 30.0 4.0 % 20.0 2.4 % 2.7
Slide 16: Regulatory Capital | Solid capital adequacy
Regulatory Capital | Solid capital adequacy DEVELOPMENTS IN CAPITAL ADEQUACY RATIOS: KEY COMMENTS: 25.4 % 23.2 % 22.2 % 24.1 % 22.9 % ▪ In the fourth quarter, Instabank successfully completed a private placement, a 3.2 % 2.0 % 1.8 % 2.2 % 3.7 % 3.4 % 2.4 % retail offering via PrimaryBid, and a subse
Slide 17: Strategy and ambitions
Strategy and ambitions
Slide 18: Strategic move towards Europe | Redomiciliation to Finland
Strategic move towards Europe | Redomiciliation to Finland • Instabank’s application for a Finnish banking license is ongoing. The • To prepare for a potential transition, the boards of Instabank ASA application was submitted in Q2 2025 by the Company’s wholly and Instabank Finland have approved a m
Slide 19: Product strategy | Continued expansion and diversification
Product strategy | Continued expansion and diversification FROM a specialised consumer finance bank Diversification and scale up TO a focused commercial bank Savings NO Savings FI/SE Mortgages NO Scaling Mortgages Credit Cards DE Scaling Credit Cards DE Consumer loans NO/FI Consumer loans SE Sales f
Slide 20: Financials | Guiding as per Q4-25
Financials | Guiding as per Q4-25 Outlook 2026 Strategic ambition mid-term PROFIT AFTER TAX 160-185 mill. > 400 mill. Strong improvement in profits Among the better Proof of Success ROE ~ 15 % > 20 % Strong improvement in performance Among the better Proof of Success GROSS LOANS > 11.5 Bn > 18.0 Bn
Slide 21: Key value propositions | The Nordic Challenger Bank
Key value propositions| The Nordic Challenger Bank A dynamic and innovative challenger bank with a solid Continued strong growth in gross loans at attractive 1 market position, a customer-centric approach, and 4 margins significant growth potential in the fintech sector Lean operational platform and
Slide 22: Thank you for your attention
Thank you for your attention Continue to see lists of management, board of directors, share holders, income statement and balance sheet.
Slide 23: Management | Experienced and competent
Management | Experienced and competent ROBERT BERG | CHIEF EXECUTIVE OFFICER JØRGEN RUI | CHIEF MARKETING OFFICER Berg is one of the Co-founders who established Instabank in 2016 . Prior to that he has Rui was recruited to the Instabank team in 2020. He has previously served as Director for been CEO
Slide 24: Board of directors | Seasoned and diligent
Board of directors | Seasoned and diligent THOMAS BERNTSEN | CHAIR PERSON ODD HARALD HAUGE | BOARD MEMBER Berntsen is the owner, chairman and managing partner in F2 Management. Hauge is an investor, consultant and author. He is the founder of Nettavisen where he Furthermore, he is the chairman of th
Slide 25: Gross lending portfolio | Transparent and simple
Gross lending portfolio| Transparent and simple Gross Loans # Customers Avg Ticket Size Yield Mortgages First or second priority mortgages for refinancing of 3,708’’ 3,424 1,083’ 8.3 % unsecured debt or house improvements Consumer Loans Unsecured loans offered in Norway, Finland and 2,858’’ 28,330 1
Slide 26: Deposits volumes | Diversified funding
Deposits volumes | Diversified funding Volume # Customers Avg. Deposit Size Avg. deposit rate Norway 4,378’’ 25,775 170’ 4.4 % Germany 3,708’’ 22,847 162’ 2.2 % Finland 74’’ 3,259 23’ 1.2 % Sweden 2’’ 442 5’ 0.5 % Total 8,162’’ 52,323 170’ 3.3 %
Slide 27: The share | Oslo Euronext Growth, ticker INSTA
The share | Oslo Euronext Growth, ticker “INSTA” Top 20 shareholders (Per February 2nd, 2026) Share price development (last 12 months) # Shareholders # of shares % 1 KISTEFOS AS 110,304,326 24.4% 2 HODNE INVEST AS 40,995,184 9.1% 3 VELDE HOLDING AS 32,000,000 7.1% 4 BIRKELUNDEN INVESTERINGSSELSKAP A
Slide 28: Income statement & Balance sheet | Overview
Income statement & Balance sheet | Overview INCOME STATEMENT (NOK THOUSAND) BALANCE SHEET (NOK THOUSAND) P&L FY 2025 Q4-25 Q3-25 Q2-25 Q1-25 FY 2024 Q4-24 Balance Sheet 31.12.25 30.09.25 30.06.25 31.03.25 31.12.24 Total income: Assets Interest Income 856,721 243,630 223,537 202,345 187,208 722,350 1
Slide 29: Instabank is the Nordic challenger bank. Founded in 2016.
Instabank is the Nordic challenger bank for corporate and private customers. Founded in 2016.