Slide 1: Nordnet Q2 2026 Results presentation
Nordnet Q2 2026 Results presentation
Slide 2: Key highlights second quarter 2026
Key highlights second quarter 2026 Record quarterly revenue and Launched first German index r arte profit with growth across all fund in Nordics and Nordnet- e qu revenue streams funds now >SEK 100bn AUM in th rway d No Continued strong trading German expansion is on track; n activity with record-hi
Slide 3: Financial highlights second quarter 2026
Financial highlights second quarter 2026 Customers Savings capital Number of trades Thousands SEKbn Million +13% +29% +17% 2,502 1,374 17.6 2,222 15.1 1,064 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Adjusted revenues Adjusted operating expenses Adjusted profit before tax SEKm1 SEKm1 SEKm1 +7.5
Slide 4: Resilient customer growth and net savings hit half-year record
Resilient customer growth and net savings hit half- year record New customers Net savings (‘000) (SEKbn) +75 +78 +151 +29 +55 +74 +26 +69 +69 +69 +25 +126 +58 +57 +59 +21 +39 +54 +19 +19 +19 +18 +16 +15 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2025 2026 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q
Slide 5: Select Q2 product highlights
Select Q2 product highlights AI Chatbot for AI-powered scalable company insights customer service extracting metrics across 700+ instruments Full US pre- market from 10.00 CET 21 new versions of Nordnet’s Nordic’s first award-winning app German index fund 5
Slide 6: Strong growth trend across all revenue streams
Strong growth trend across all revenue streams Operating income mix Key revenue drivers Net transaction related Net fund related Net interest income Other income1 Transaction related +26% § Robust trading activity continues § QoQ margins up on strong x-border & country mix 1,634 § Highest quarterly
Slide 7: Brokerage – continued robust activity with strong cross-border and favorable country mix
Brokerage – continued robust activity with strong cross-border and favorable country mix Income and margin per trade Trades per day (‘000) Income (SEKm) Income / trade (SEK) Trades / customer / day (LHS) Trades per day +37% 0.150 302 298 39.8 39.8 41.9 262 258 261 37.3 36.6 38.8 0.125 239 34.0 34.6
Slide 8: Fund – strong growth, particularly in Nordnet-branded funds
Fund – strong growth, particularly in Nordnet- branded funds Income and margin Fund capital development SEKm | Bps on fund capital SEKbn Active Nordnet funds Other Income (SEKm) Income margin (bps) Index Fixed income +34% 358 25.8 25.4 297 307 14% 24.9 24.9 24.9 23.9 24.0 24.8 24.3 23.6 282 259 244
Slide 9: Resilient deposit levels despite record net buying
Resilient deposit levels despite record net buying Deposits/savings capital vs stock market performance Deposit development 2Q26 SEKbn SEKbn Brokerage/Funds (LHS) % Deposits (RHS) Share of Deposits (LHS) MSCI World index AuM 1,400 20% 8.0% 6.9% 18% 1,200 -2.0 16% +20.5 -17.9 Brokerage 1,000 14% 97.2
Slide 10: Net interest income now on growth trajectory
Net interest income now on growth trajectory Income Margins SEKm bps Credit portfolio Liquidity portfolio Customer interest NII yield Credit portfolio Liquidity portfolio Customer interest Other +12.3% 600 679 691 653 634 675 500 577 601 574 579 561 400 403 414 411 271 333 269 300 299 264 265 268 20
Slide 11: Rigorous focus on cost discipline to drive operating leverage and enable investments
Rigorous focus on cost discipline to drive operating leverage and enable investments Operating expenses Key drivers of operating leverage C/I ü Scalable cloud-powered tech platform 28% 27% 29% 30% 29% 31% 31% 30% 30% 27% ~SEK 1,455m ~SEK 1,630m ü Process simplification and AI automation 423 439 440
Slide 12: Business model with great operating leverage
Business model with great operating leverage Adjusted revenue Adjusted operating expenses³ Adjusted profit before tax SEKm SEKm SEKm 46 59 54 50 49 17 17 15 15 14 63 69 70 70 71 +17% C A GR 5,818 5,389 5,094 4,550 R+ 21% +8.7% excluding CAG 4,103 costs for German 3,748 expansion 3,560 3,382 3,160 CA
Slide 13: Strong capital situation creates flexibility
Strong capital situation creates flexibility Regulatory metrics Consolidated situation 95.2 Actual (vs req.) Requirement Shareholder remuneration Deposits in SEKbn Total capital ratio 22.2% (+7.7pp) 14.5% and capital targets CET1 ratio 18.5% (+8.4pp) 10.1% § Dividend of SEK 8.60 paid – 70% payout Le
Slide 14: Medium-term financial targets reiterated
Medium-term financial targets reiterated Target Customer growth1 Average savings capital per customer2 Shareholder remuneration % SEK (‘000) 15% 14% 12% 13% 13-15% p.a. 476 486 507 Deliver superior shareholder returns 444 435 Around SEK500k through a dividend payout ratio of 70% 9% Capital ratio tar
Slide 15: German expansion milestones
German expansion milestones External First internal recruitment starts production testing July June Public Arno Walter Pre-study announcement 10 new European New hires First meeting announced new VIP Strategic Starts of expansion markets launched start to join with BaFin country manager launch marke
Slide 16: Key priorities for 2026
Key priorities for 2026 Commercial launch in Germany in H2 Continue investment in platform and trading offering Accelerate adoption of AI in our products and processes New Wealth Management unit to further develop Nordnet Private Banking Maintain focus on cost control 16
Slide 17: Thank You!
Thank You!
Slide 18: Financial highlights second quarter 2026
Financial highlights second quarter 2026 SEKm unless otherwise stated Q2 2026 Q1 2026 QoQ % Q1 2025 YoY % Condensed P&L1 Adjusted total income 1,634 1,485 +10% 1,293 +26% Adjusted operating expenses (440) (439) +0% (397) +11% Adjusted profit before tax 1,190 1,042 +14% 893 +33% KPIs New customers +7
Slide 19: Summary P&L
Summary P&L SEKm Q2 2026 Q1 2026 QoQ % Q2 2025 YoY % Adjusted total income 1,634 1,485 10% 1,293 26% Adjusted operating expenses (440) (439) 0% (397) 11% Net credit losses 0 (2) - (0) - Imposed levies: Resolution fees (4) (2) 51% (3) 28% Adjusted profit before tax 1,190 1,042 14% 893 33% Items affec
Slide 20: Items affecting comparability
Items affecting comparability SEKm 2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 Non-recurring items – Expenses Delisting from Nasdaq (45) Acquisition of Netfonds (35) (16) Deduction right VAT 38 (20) (30) AML process upgrade (19) IPO related expenses (109) Sanction SFSA (4)1 (100) Divestment un
Slide 21: New customers are younger, higher share of women and own more funds
New customers are younger, higher share of women and own more funds Share of customers per cohort and age1 Share of customers by cohort and gender 1H26 | % 1H26 | (‘000) Male Female Corporation 2,502 Pre 2020 2020-2021 2022 -2025 2026 6% 2026 819 654 889 141 2,502 5% 3% 2% 3% 3% 3% 36% 2022-2025 4%
Slide 22: New customers remain active and drive high margins
New customers remain active and drive high margins Revenue margin 1H26 Share of cross-border trades 1H26 bps % | million trades 121 20.4 6.4 8.8 1.0 36.4 35% 44% 41% Cross-border 52% 49% 60 45 50 50 Pre 2020 2020-2021 2022-2025 2026 All Pre 2020 2020-2021 2022-2025 2026 All Share of trades per appli
Slide 23: 3M IBOR development and Liquidity portfolio snapshot
Liquidity portfolio snapshot: ~SEK2.0bn in 2026* *Assumes 2Q 2026 volume, currency allocation, credit spreads and market consensus estimates for 3M fwd IBOR development. Volume SEKbn Deposits Lending 1 Other/equity ~SEK 1,680m SEK 1,585m ~SEK 2,000m 73 70 Net interest income 57 60 58 60 500 41 42 43
Slide 24: Loan portfolio snapshot
Loan portfolio snapshot: ~SEK1.1bn in 2026* *Assumes 2Q 2026 volume, interest as per July 2026, 3M fwd IBOR consensus estimates and passthrough of; Margin lending (50%), Mortgage (100%) Unsecured Mortgage Margin lending Volume1 SEKbn ~SEK 1,560m ~SEK 1,100m ~SEK 1,100m 30.9 31.5 31.2 31.4 29.8 Net i
Slide 25: Deposit interest cost snapshot
Deposit interest cost snapshot: SEK 420m in 2026* *Assumes 2Q 2026 volume and interest rates as of July 1 with future 100% passthrough of 3M fwd IBOR changes. Assumes that interest on non-savings account deposits remains at 2Q 2026 levels. Development savings accounts Share of June 26 SEKbn SE NO DK