Evli Plc Class B · OMXHEX:EVLI
Evli Plc Class B — Investor Presentation (September 2026)
54 slides from Evli Plc Class B's investor presentation, Sep 30, 2026
Slide 1: Evli European Investment Grade B
EVLI EUROPEAN INVESTMENT GRADE B This is marketing material for the fund and is not intended as investment advice or recommendation. Before making an investment decision, the investor must read the fund's key information document and other statutory information about the fund. 30.09.2026 ISIN: FI000
Slide 2: Evli in brief
2 EVLI IN BRIEF “We see wealth as an engine to drive sustainable progress.” CONFIDENTIAL
Slide 3: Evli in brief
3 ASSETS UNDER MANAGEMENT (EUR MARKET POSITION AS INSTITUTIONAL Evli in brief BILLION) JUNE 30, 2026 ASSET MANAGER (KANTAR PROSPERA 2026) We are a Finnish independent investment 22.6 1. service company with a 40-year operating history. NET REVENUE (EUR MILLION) IN 2025 FINLAND’S THIRD LARGEST FUND M
Slide 4: Evli's investment funds
4 Evli’s investment funds FUND AUM (EUR BILLION) NUMBER OF FUNDS Funds are managed by Evli Fund Management JUNE 30, 2026 Company Ltd. The company is part of Evli Group whose parent company is Evli Plc. 17.1 70 Morningstar, an independent fund research firm, awarded Evli Fund Management Company the b
Slide 5: Award-winning asset management from Evli
5 Award-winning asset management from Evli Evli has consistently ranked at the very top of Kantar Prospera’s client survey for 14 consecutive years. In the SFR Research’s Institutional Investment Services survey, Evli has been ranked first for six years and second for four, based on the overall qual
Slide 6: Successful fixed income management from Evli
6 SUCCESSFUL FIXED INCOME MANAGEMENT FROM EVLI The results of Evli’s corporate bonds family of funds CONFIDENTIAL
Slide 7: Evli's excellent corporate bond track record
7 Evli’s excellent corporate bond track record Quartile Rankings 3Q 2026* Historical returns are no guarantee of future returns. Morningstar Peer 3 5 10 15 Evli Fund Group Years Years Years Years EUR Ultra Short-Term Evli Euro Liquidity 1 1 1 1 Bond – The first credit fund, Evli Corporate Bond Fund
Slide 8: Evli's European and Emerging Markets corporate bond funds in a nutshell
8 Evli’s European and Emerging Markets corporate bond funds in a nutshell Fund Evli Short Corporate Bond Evli Corporate Bond Evli Green Corporate Bond Evli European Investment Grade Evli European High Yield Evli Emerging Markets Credit Invests into Short dated European European investment grade Euro
Slide 9: Why invest in European corporate bonds?
9 WHY INVEST IN EUROPEAN CORPORATE BONDS? Evli European Investment Grade CONFIDENTIAL
Slide 10: Evli IG – Active Selection Adds Value
10 Evli IG – Active Selection Adds Value Evli European Investment Grade IB 30.6.2015 - 30.6.2026 – Active company selection with 80% active Past returns are no guarantee of future returns. Difference Fund Index After fees share 25.0% 20.0% – Higher returns with lower volatility 15.0% – All investmen
Slide 11: Evli Investment Grade Fund
11 Evli Investment Grade Fund FUND Evli Investment Grade Fund EUR IG bonds with at least one IG – Invests in Euro-denominated European Invests into rating or similar credit profile investment grade bonds Active share vs EUR IG >80%, – Bonds with official credit ratings have to be Key differentiators
Slide 12: Investment philosophy and process
12 INVESTMENT PHILOSOPHY AND PROCESS Evli European Investment Grade CONFIDENTIAL
Slide 13: Investment Philosophy and Strategy
13 Investment Philosophy and Strategy - Creditworthiness is the most important factor in selecting investment targets DISCIPLINED - We assess the TRUE credit quality, NOT relying on official rating - The coupon is a central part of the return - We only invest in issuers that we like, regardless of t
Slide 14: Investment Process
14 Investment Process Idea Generation Credit Analysis Execution Screening Company Analysis Portfolio Investment Universe: - Financial Statement Analysis Overview and diversity: - Euro-denominated IG bonds, the - Industrial & Economic Outlook - Diverse portfolio with 100-150 size of which is mainly a
Slide 15: Company analysis
15 Company analysis – Main focus on companies that over the cycle: – generate consistent positive free cash flow – debt leverage decreasing & debt coverage increasing – Are priced at an attractive spread compared to their risk Management and other Interest Groups - Management’s abilities and future
Slide 16: How ESG is taken into account in investment decisions
16 How ESG is taken into account in investment decisions ESG factors will influence our analysis of the company, industry as well as our thoughts on the management and owners. Portfolio Managers - Focus on issues that are quantifiable in terms of credit quality - For example: Damage to brands, legal
Slide 17: ESG examples from Evli's corporate bond funds
17 ESG examples from Evli’s corporate bond funds ENVIRONMENTAL Will affect certain sectors more (oil, mining). Examples: - Invested in the Volvo Car new green bond as the company committed to a new industry leading electric strategy - Did not participate in Volkswagen Green bond issue due to UN Glob
Slide 18: Evli Fixed Income Team: Evli Investment Grade
18 Evli Fixed Income Team: Evli Investment Grade Broad-based collaboration within the team to leverage our strong position in different credit classes Nordic Corporate Bonds Investment Grade Corporate Bonds Jesper Kasanen Portfolio Manager In the Industry since 2018 ✓ ✓ Jani Kurppa Juhamatti Pukka S
Slide 19: Evli's fixed income team
19 Evli’s fixed income team Mikael Lundström Juhamatti Pukka Jussi Hyyppä Juhana Heikkilä Jani Kurppa Juha Mäntykorpi CHIEF INVESTMENT HEAD OF FIXED INCOME HEAD OF LOAN SENIOR PORTFOLIO SENIOR PORTFOLIO PORTFOLIO MANAGER OFFICER STRATEGIES MANAGER MANAGER AT EVLI SINCE 1996 AND AT EVLI SINCE 2008 AN
Slide 20: Evli European Investment Grade Fund in a Nutshell
20 Evli European Investment Grade Fund in a Nutshell Type of Fund European Corporate Bond fund (UCITS) Benchmark ICE BofA Euro Corporate Index Fund Units Retail distribution (A-series), retail growth (B-series) and institutional share class (IB-series) A units EUR: EVLEIGA FH / FI0008803937 (min. 3%
Slide 21: Considerations and Risk Factors
21 Considerations and Risk Factors The fund’s investment activities aim to achieve a higher long-term return on assets than the benchmark. The fund’s return expectation and risk are higher than for funds that invest solely in government bonds. The fund may make use of the general outlook on the fixe
Slide 22: Track record and portfolio composition
22 TRACK RECORD AND PORTFOLIO COMPOSITION Evli European Investment Grade CONFIDENTIAL
Slide 23: Net of fee returns - 1 Year
23 Net of fee returns - 1 Year The ICE BofA Euro Corporate Index (ER00) has been the fund's official benchmark since 01.03.2024. Before that date, the fund's official becnhmark was a composite comprising 20% ICE BofAML EMU Financial Corporate and 80% ICE BofAML EMU Non-Financial Corporate. Portfolio
Slide 24: Net of fee returns - 10 Years
24 Net of fee returns - 10 Years The ICE BofA Euro Corporate Index (ER00) has been the fund's official benchmark since 01.03.2024. Before that date, the fund's official becnhmark was a composite comprising 20% ICE BofAML EMU Financial Corporate and 80% ICE BofAML EMU Non-Financial Corporate. Portfol
Slide 25: Annual returns, after fees, 30.09.2026
25 Annual returns, after fees, 30.09.2026 ICE BofA Euro Corporate Index (ER00) has been the official benchmark for the fund since 1.3.2024. Until 1.3.2024, the official benchmark for the fund has been ICE BofAML EMU Financial Corporate 20%, ICE BofAML EMU Non-Financial Corporate 80%. 2017 2018 2019
Slide 26: Evli Investment Grade statistics
26 Evli Investment Grade statistics Statistics 30.9.2026 Fund Index Yield (YTM) 4.37% 4.30% Yield to worst (YTW) 4.35% 4.23% Modified duration 4.05 4.26 Spread duration 4.19 4.50 Average rating BBB+ A- Credit spread (OAS) 95 bps 88 bps HY exposure 0.0% 0.0% Green bonds 35.3% 18.0% Responsibility sco
Slide 27: Attribution last 12 Months
27 Attribution last 12 Months (30.9.2025-30.9.2026) Historical returns are no guarantee of future returns. – Fund return -0.80% vs. benchmark return -1.00% (gross of fees), difference +0.20 % – Positive attribution from company/bond selection: +0.22% – Positive attribution from sector allocation: -0
Slide 28: Portfolio structure 30.09.2026
28 Portfolio structure 30.09.2026 Evli European Investment Grade B CONFIDENTIAL
Slide 29: Top holdings 30.09.2026
29 Top holdings 30.09.2026 10 LARGEST INVESTMENTS 10 LARGEST ISSUERS % % Kojamo Oyj 28.5.2029 0.875% Callable Fixed 1.41% Banco Santander SA 2.60% Danske Bank A/S 3.3.2038 3.75% Callable Fixed 1.38% DNB Bank ASA 2.13% Dnb Bank Asa 28.2.2033 4.625% Callable Variable 1.38% UBS Group AG 2.12% Storebran
Slide 30: Peer analysis – 3 years
30 Peer analysis – 3 years Past returns are no guarantee of future returns. Return (cum.) Beta Bear Beta Bull Beta Down Capture Ratio Up Capture Ratio Max Drawdown Evli European Investment Grade B 12,14 1,02 1,06 1,15 106,18 104,52 -3,24 The upper quartile 12,19 1,02 1,09 1,10 112,45 103,38 -2,77 Me
Slide 31: ESG Metrics 30.06.2026
31 EVLI EUROPEAN INVESTMENT GRADE ESG Metrics 30.06.2026 Responsibility score AA Carbon footprint 45 UN Global Compact 0.0 % SFDR classification: Article 8 (t CO2e/M$ sales) fails CURRENT RESPONSIBILITY SCORES CARBON FOOTPRINT AND FOSSIL FUEL RESERVES DEVELOPMENT OF CARBON INTENSITY OF CURRENT INVES
Slide 32: Ambition
32 AMBITION “We want to be the forerunner in responsible wealth management in the Nordics, and in this way help our clients in managing their wealth to support a sustainable future.” CONFIDENTIAL
Slide 33: Responsible investing with 20 years of experience
33 Responsible investing with 20 Review of Evli’s climate targets years of experience Signatory of a COP15 initiative ’Moving Together on Nature’ Signatory of a joint TNFD Signatory of Open Letter to Joining the PRI statement on Nature EU leaders from investors Advance initiative as European Report
Slide 34: Four pillars of responsible investing at Evli
34 Four pillars of responsible investing at Evli #1 in Sustainable investing according to Finnish institutions2 Principles for ESG 1 -integration in Engagement and Reporting Responsible Investment Team Responsible Investment investment process active ownership – Decided by Evli’s – Portfolio – Manag
Slide 35: Monitoring, engagement and active ownership
35 Monitoring, engagement and active ownership ENGAGEMENT ACTIVITIES 2025 UN Global Compact, the UN Guiding Principles on Business and Human COLLABORATIVE ENGAGEMENT PARTICIPATING IN GENERAL Rights, the OECD Guidelines for Multinational Enterprises and Evli’s Climate INITIATIVES MEETINGS and Nature
Slide 36: Exclusions in practice in all Evli funds
36 Exclusions in practice in all Evli funds – With 0% revenue threshold: – Controversial weapon manufacturers – Companies manufacturing peat for energy production – With 5% revenue threshold: – Tobacco producers, adult entertainment producers and companies practicing controversial lending – With 10%
Slide 37: Evli's Climate and Nature Principles
37 Evli’s Climate and Nature Principles 1. Analysis – Monitoring the emissions of companies in Evli’s funds through fund- specific carbon footprints and companies’ emission reduction targets. – Evli’s Responsible Investment team utilizes available tools and data to identify nature-related risks, dep
Slide 38: Evli's climate targets
38 Evli’s climate targets Evli aims to achieve net zero by 2050 at the latest. The interim target for the investments -50% reduction in indirect emissions from investments by 2030 (compared to 2019). 1 We are aware that a credible long-term net zero goal requires systematic work and sufficiently amb
Slide 39: What opportunities does the market currently offer?
39 WHAT OPPORTUNITIES DOES THE MARKET CURRENTLY OFFER? Evli European Investment Grade - Overview of the market CONFIDENTIAL
Slide 40: The war impact: Yield curve up, spreads wider
40 The war impact: Yield curve up, spreads wider German sovereign curve, vs. end of 2025 Investment Grade spreads (OAS) 4,00 100 100 90 95 3,50 80 90 70 Yield to maturity 85 Change, bps 3,00 60 50 80 2,50 40 75 30 70 2,00 20 65 10 60 1,50 0 6M 9M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 15Y 20Y 25Y 30Y Change
Slide 41: Evli's funds vs. the market
41 Evli’s European and Global fixed income funds and government bond funds vs. the market 30.9.2026 8,0 Evli’s European credit fund Evli European High Yield (6,92%) Evli’s Global credit fund 7,0 European Developed Markets High Yield Constrained Evli’s government bond fund Evli Emerging Markets Credi
Slide 42: Market outlook
42 Market outlook – The long-end sell-off has intensified over – Another solid earnings season: The Q2 – High all-in yields: Following the shift up in the past month. The 10-year OAT–Bund reporting season so far has been strong in the yield curve, the overall yield levels are spread has widened to a
Slide 43: Spreads: BBB-rated IG in Europe
43 Spreads: BBB-rated IG in Europe (02/10/2026) Last 5 years Since 1999 Source: ICE BofAML, EVLI CONFIDENTIAL
Slide 44: Spreads: B-rated HY in Europe
44 Spreads: B-rated HY in Europe (02/10/2026) Last 5 years Since 1999 Source: ICE BofAML, EVLI CONFIDENTIAL
Slide 45: Credit metrics (IG + HY)
45 Credit metrics (IG + HY) Investment Grade High Yield Source: ICE BofAML, Bloomberg, Cognitive CONFIDENTIAL
Slide 46: Credit metrics (IG + HY)
46 Credit metrics (IG + HY) Source: FactSet, Bloomberg, S&P Capital IQ, company data, Morgan Stanley Research CONFIDENTIAL
Slide 47: HY: 3-4% annual default rate expected by YE26
47 HY: 3-4% annual default rate expected by YE26 – Market default forecasts show around 3-4% default rates by year-end 2026. – For 2027, market expectations range from 2% to 4%. Healthy credit fundamentals and high balance sheet liquidity support lower default rate while prolonged war in Iran is a n
Slide 48: Benchmark total return % YTD 2026
48 Benchmark total return % YTD 2026 Past returns are no guarantee of future returns. Source: ICE BofAML, Evli. Returns are hedged to the EUR. CONFIDENTIAL
Slide 49: Evli's funds vs. the market
49 Evli’s funds vs. the market 30.9.2026 8,0 Evli’s Nordic credit fund Evli European High Yield (6,92%) Evli Nordic Senior Secured Loan (AIF; 6,96%) Evli’s European credit fund 7,0 European Developed Markets High Yield Constrained Evli’s Global credit fund Evli Nordic High Yield (6,74%) Evli’s gover
Slide 50: Evli's European and Emerging Markets corporate bond funds in a nutshell
APPENDIX 50 Evli’s European and Emerging Markets corporate bond funds in a nutshell Fund Evli Short Corporate Bond Evli Corporate Bond Evli Green Corporate Bond Evli European Investment Grade Evli European High Yield Evli Emerging Markets Credit Invests into Short dated European European investment
Slide 51: Evli's Nordic corporate bond and loan funds in a nutshell
APPENDIX 51 Evli’s Nordic corporate bond and loan funds in a nutshell Fund Evli Euro Liquidity Evli Nordic Corporate Bond Evli Nordic High Yield Evli Nordic Senior Secured Loan (AIF) Invests into Nordic ultra-short term corporate bonds Nordic crossover corporate bonds Nordic rated and unrated high y
Slide 52: Important information
52 Important information This marketing material is intended for non-professional and professional clients in Finland, Sweden, Lithuania, Latvia and Estonia. In other jurisdictions this Document is intended only for professional clients. The management company of the fund is Evli Fund Management Com
Slide 53: Disclaimer statement
53 Disclaimer statement Evli This presentation is intended only for the recipient's personal and private use. This material is based on sources that Evli Group (Evli) considers correct and reliable. However, neither Evli nor its employees give any guarantee concerning the correctness, accuracy or co
Slide 54: Evli contact and social media
LinkedIn – Evli Funds LinkedIn – Evli Funds Facebook – Evli Funds Facebook – Evli Funds Facebook – Evli Funds Message Service X – Evli Funds Message Service X – Evli Funds Message Service X – Evli Funds evli.com evli.com evli.com Evli Plc | Aleksanterinkatu 19 | P.O. Box 1081 | FI-00101 Helsinki, Fi