Coop Pank As · OMXTSE:CPA1T

Coop Pank As — Q4 2023 Earnings Presentation

24 slides from Coop Pank As's earnings presentation, Feb 9, 2024

1. Slide 1: Coop Pank Group 2023 Q4 and yearly unaudited results

   e008 Coop Pank Group 2023 Q4 and yearly unaudited results 09.02.2024

2. Slide 2: • • • • • • • • • •

   • • • • • • • • • •

3. Slide 3: Q4 2023 key figures: loans, deposits, customers

   m€ +190 +15% m€ +214 +14% -3.1 -0.2% +15 +1% 1 755 1 722 1 494 1 491 1 707 1 458 1 347 1 508 1 513 1 301 Q4 2022 Q1 Q2 Q3 Q4 2023 Q4 2022 Q1 Q2 Q3 Q4 2023 '000 +15.2 +23% m€ +1.9 +29% +4.6 +6.0% -2.7 -24% 182 10.4 11.1 147 155 167 175 9.4 8.4 66.8 70.2 76.2 77.4 82.0 6.5 Q4 2022 Q1 Q2 Q3 Q4 2023 Q4

4. Slide 4: Q4 2023 income statement and key ratios

   • Q4 2023 Q3 2023 Quarterly change • Net operating income ('000 €) 20 417 22 738 -2 321 -10% Interest 20 594 21 257 -663 -3% incl interest income 35 029 33 286 +1 743 +5% incl interest expense -14 435 -12 029 -2 406 +20% • Service fees and commissions 1 489 1 147 +342 +30% Other -1 666 334 -2 000 -5

5. Slide 5: Growth in loans, deposits and customers

   m€ CAGR: +34% m€ CAGR: +36% +190 +15% +214 +14% 1 722 1 491 1 508 1 301 1 099 953 758 671 507 460 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 '000 CAGR: +31% 'm€ CAGR: +63% +15.2 +23% +18.9 +93% 182 39.2 147 87 115 64 66.8 82.0 27.6 37.9 51.0 20.4 13.5 5.5 7.3 2019 2020 2021 2022 2023 No of to

6. Slide 6: 2023 yearly income statement and key ratios

   • Year on Year • 2023 2022 change Net operating income ('000 €) 85 205 54 631 +30 574 +56% Interest 81 265 50 709 +30 556 +60% • incl interest income 120 651 60 090 +60 561 +101% incl interest expense -39 386 -9 381 -30 005 +320% Service fees and commissions 4 847 3 785 +1 062 +28% Other -908 137 -1

7. Slide 7: Net loan portfolio by product

   • m€, % 7.5% • 6.3% 6.0% • 5.2% 5.1% • Gross interest of portfolio • CAGR: +34% +190 +15% 1 491 1 301 95 153 86 130 953 67 602 98 508 671 66 365 460 84 59 263 64 578 641 179 423 258 157 2019 2020 2021 2022 2023 Business loans Private mortgage loans Leasing Consumer loans

8. Slide 8: Gross loan portfolio and interest by loan type

   m€, % m€, % 7.5% 5.7% 5.5% 6.0% 5.0% 5.0% 3.7% 3.6% 3.4% 3.4% 587 650 603 430 508 262 264 366 160 181 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Gross loan portfolio Gross interest % Gross loan portfolio Gross interest % m€, % m€, % 18.3% 18.3% 6.9% 17.7% 16.9% 15.8% 4.3% 4.3% 4.3% 4.4% 89 10

9. Slide 9: Past due loans and loss allowances

   • m€, % 5.4% • 3.3% 2.0% 0.6% 0.8% 30.6 25.1 4.1 22.4 6.5 7.5 26.5 18.6 5.0 14.9 2.6 2.3 2.1 0.6 2.7 % - 5.3 - 8.7 - 8.8 - 11.9 0.8% - 16.4 0.5% 0.5% 0.5% 0.3% 2019 2020 2021 2022 2023 Past due 1-90 days Past due over 90 days 2019 2020 2021 2022 2023 Loss allowances Past due % Total residual of loan

10. Slide 10: Past due loans and loss allowances by loan type

    m€, % m€, % 4.0% 2.7% 1.7% 2.0% 1.7% 1.7% 0.8% 0.7% 1.0% 0.4% 12.2 6.4 7.4 5.3 4.6 2.6 5.0 4.0 7.2 4.8 4.6 5.0 2.1 4.0 2.6 11.3 - 1.7 - 3.2 - 4.6 - 7.4 - 10.0 4.7 4.3 4.0 2.3 - 0.5 - 0.5 - 1.3 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 m€, % m€, % 9.4% 11.4% 8.7% 7.9% 8.5% 12.3% 6.1% 5.0% 4.2

11. Slide 11: Deposits and cost of financing

    m€ • Total cost of financing 2.4% • • 1.0% 0.9% 0.8% 0.7% • CAGR: +36% • +214 +14% • 1 722 1 508 494 1 099 % 717 47% 48% 758 518 40% 507 302 1 228 30% 29% 152 791 456 581 354 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Term deposits Demand deposits

12. Slide 12: Clients and market share of deposits and loans

    • '000 CAGR: +30% +35 +24% • 182 147 115 87 64 • • 2019 2020 2021 2022 2023 • '000 CAGR: +31% market share % +15.2 +23% 6.0% 5.5% 82.0 4.5% 3.4% 5.5% 6.0% 66.8 51.0 2.6% 37.9 4.0% 27.6 3.2% 2.4% Market share of deposits Market share of loans 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Clients

13. Slide 13: Capital adequacy and liquidity

    m€, % % 24.3% 682% 19.5% 19.6% 17.8% 16.6% 1 021 896 648 298% 275% 202% 457 176% 345 200 100% 100% 100% 100% 100% 160 84 89 108 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Total eligible capital RWA Capital adequacy ratio LCR Regulatory minimum

14. Slide 14: Cost / income ratio and ROE

    • Cost / Income ratio % • 69% • 60% 57% 50% 41% • ROE % • 23.5% • 16.8% 12.9% 9.8% 7.8% 2019 2020 2021 2022 2023

15. Slide 15: Bank brand preference study

    95% LHV 27% 27% 54% Swedbank 96% Swedbank 30% 24% 54% 87% SEB 91% Coop Pank 14% 31% 45% 72% LHV SEB 17% 26% 43% 76% Luminor 12% 13% 62% Coop Pank 61% Other 6% 54% Luminor Would not choose any 59% 18% December 2023 December 2022 First preference Would consider Source: reports of Initiative brand stud

16. Slide 16: Shareholder distribution as at 31.12.2023

    '000 Shareholder distribution of Coop Pank as at 31.12.2023 CAGR: +35% Coop Investeeringud +1.2 +3% 22% 37.2 Others 36.0 43% 27.8 Cooperatives 19% 12.9 11.3 Tallinna linnakantselei 3% CM Capital Andres Sonn 5% 8% 2019 2020 2021 2022 2023

17. Slide 17: Share price, P/B, EPS and P/E

    Share price €, 4.20 P/B € trading volume '000 shares 2.90 2.44 2.60 2.33 2.36 1.67 1.30 2.42 1.07 1.08 1.13 942 2019 2020 2021 2022 2023 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 12.23 EPS € P/E € 0.38 20.2 14.4 0.22 12.1 11.3 0.15 6.1 0.09 0.08 2019 2020 2021 2022 2023 2019 2020 2021 2022 202

18. Slide 18: 39.2 m€ profit, ROE 23.5%

    39.2 m€ profit ROE 23.5%

19. Slide 19: Five-year financial summary

    • 2019 2020 2021 2022 2023 • Net oper. income ('000 €) 23 719 31 089 39 238 54 631 85 205 Interest 20 689 28 371 35 538 50 709 81 265 incl interest income 25 577 34 640 43 040 60 090 120 651 incl interest expense -4 889 -6 269 -7 502 -9 381 -39 386 Service fees and commissions 2 372 2 097 3 085 3 78

20. Slide 20: Number of active clients target

    No of active customers of Coop Pank, thousand 22% growth >150 (on average p.a) Number of active clients >150 000 82 67 51 38 28 2019 2020 2021 2022 2023 ... 2026

21. Slide 21: Net loan portfolio target

    Net loan portfolio of Coop Pank, m€ 10% growth (on average p.a) >2 000 1 491 1 301 953 671 460 2019 2020 2021 2022 2023 ... 2026

22. Slide 22: Cost / income ratio target

    Cost / income ratio (CIR) 69% 60% 57% 50% <50% 41% 2019 2020 2021 2022 2023 ... 2026

23. Slide 23: Return on equity target

    Return on equity (ROE) 23.5% 16.8% >15% 12.9% 9.8% 7.8% 2019 2020 2021 2022 2023 ... 2026

24. Slide 24: Margus Rink, Paavo Truu

    Margus Rink Chairman of Board, CEO margus.rink@cooppank.ee Paavo Truu Member of Board, CFO paavo.truu@cooppank.ee https://www.cooppank.ee/en/for-investors

Coop Pank — Q4 2023 Earnings Presentation on 6ix