Slide 1: Evli Corporate Bond IB
EVLI CORPORATE BOND IB 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: FI4000243217 BL
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: Evli's excellent corporate bond track record
6 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 7: Evli's European and Emerging Markets corporate bond funds in a nutshell
7 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 8: Why invest in European corporate bonds?
8 WHY INVEST IN EUROPEAN CORPORATE BONDS? Evli Corporate Bond CONFIDENTIAL
Slide 9: Evli Corporate Bond - Key Differentiators
9 Evli Corporate Bond - Key Differentiators ■ Crossover focus (BBB–BB): consistently higher returns than Top-decile in every period Investment Grade Percentile ranking in Europe*, 30.9.2026 Unique ■ Top-10 percentile in its peer group, consistently for 15 years (Institutional IB-series) product ■ Sp
Slide 10: Evli Corporate Bond Fund
10 Evli Corporate Bond Fund Evli Corporate Bond European investment grade and high Invests into yield crossover bonds Active bottom-up selection in – Invests mainly in European Investment Grade Key differentiators European crossover segment, and High Yield bonds. Will also invest in non- outperformi
Slide 11: Unique long term track record
11 Unique long term track record Institutional share against IG-market *) Exceptionally ▪ Fund has performed excellent since launch long track ▪ Same PM since launch (co-PM 2013-2024) record since ▪ Excellent risk/return profile – 5 stars from 1999 Morningstar (Institutional-series, 06/2025) ▪ Addin
Slide 12: Added value of BB's
12 Added value of BB’s – BB’s outperform Investment Grade on a 3-year horizon constantly (95% of the time). Even on a 6-month horizon the outperformance consistency is high (77%) – Volatility wise BBs most of the time have same or even less volatility than IG – On a 10-year horizon the fund has same
Slide 13: Investment philosophy and process
13 INVESTMENT PHILOSOPHY AND PROCESS Evli Corporate Bond CONFIDENTIAL
Slide 14: Investment Philosophy and Strategy
14 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 invest in issuers that we like, regardless of their
Slide 15: Fundamental Credit Investment Process in Europe
15 Fundamental Credit Investment Process in Europe – Value creation comes mainly from security selection, not from market timing MARKET VIEW: ~1/3 I DEA SELECTION: ~2/3 OF OUTPERFORMANCE IMPLEMENTATION ADDING VALUE AS WELL Overall Idea Credit Investment market view generation analysis decision Portf
Slide 16: Portfolio Construction
16 Portfolio Construction – Aim is to build a well performing portfolio where the risk are contained – Focus on credit quality; not duration Investment Grade bonds (~ 50-100%) High Yield bonds (0 - ~40%) ▪ The most sensitive to interest rates ▪ Credit quality most important ▪ Brings stability in vol
Slide 17: Company analysis
17 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 18: How ESG is taken into account in investment decisions?
18 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, lega
Slide 19: ESG examples from Evli's corporate bond funds
19 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 20: Evli Fixed Income Team: Evli Corporate Bond
20 Evli Fixed Income Team: Evli Corporate Bond Mikael Lundström CHIEF INVESTMENT OFFICER At Evli since 1996. Specialised in corporate bond and fixed income portfolio management. Mikael has invested in the European High Yield market since 1999 and has been the portfolio manager of Evli Corporate Bond
Slide 21: Evli's fixed income team
21 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, AT EVLI SINCE 2008, AT E
Slide 22: Evli Corporate Bond Fund in a Nutshell
22 Evli Corporate Bond Fund in a Nutshell Type of Fund European Corporate Bond fund (UCITS) Benchmark ICE BofA Euro Corporate Index Fund Units Both distribution (A) and growth units (B), Institutional share class available (IB) B units EUR: EVLCOBB FH / LP60080971/ FI0008801097 (no dividend) Bloombe
Slide 23: Considerations and Risk Factors
23 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 average remaining exercise period (duration) of the
Slide 24: Track record and portfolio composition
24 TRACK RECORD AND PORTFOLIO COMPOSITION Evli Corporate Bond CONFIDENTIAL
Slide 25: Net of fee returns - 1 Year
25 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 25% ICE BofA BB-B Euro High Yield Constrained Index and 75% ICE BofA Euro Corporate Index EUR. P
Slide 26: Net of fee returns - 10 Years
26 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 25% ICE BofA BB-B Euro High Yield Constrained Index and 75% ICE BofA Euro Corporate Index EUR.
Slide 27: Annual returns, after fees, 30.09.2026
27 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 BofA BB-B Euro High Yield Constrained Index 25%, ICE BofA Euro Corporate Index EUR 75%. 2017 20
Slide 28: Evli Corporate Bond statistics
28 Evli Corporate Bond Statistics 30.09.2026 Fund Index statistics Yield (YTM) 4.93% 4.30% Yield to worst (YTW) 4.89% 4.23% OAS (vs Govt) Modified duration 3.69 4.26 Average rating Baa2/BBB A3/A- Credit spread (OAS) 141 bps 88 bps HY exposure 24.91 % Green bonds 23.15 % Responsibility score (MSCI) A
Slide 29: Fund rating distribution 9/2026
Fund rating distribution 9/2026 CONFIDENTIAL
Slide 30: Portfolio structure 30.09.2026
30 Portfolio structure 30.09.2026 Evli Corporate Bond IB CONFIDENTIAL
Slide 31: Top holdings 30.09.2026
31 Top holdings 30.09.2026 10 LARGEST INVESTMENTS 10 LARGEST ISSUERS % % Abn Amro Bank Nv 21.2.2030 4.25% At Maturity Fixed 1.59% UBS Group AG 1.97% Engie 6.3.2031 3.625% Callable Fixed 1.54% ABN AMRO Bank NV 1.59% Ubs Group 11.1.2031 4.375% Callable Variable 1.44% Engie SA 1.54% Lloyds Bk Gr Plc 5.
Slide 32: Portfolio positioning October 2026
32 Portfolio positioning October 2026 – Allocation Portfolio weights (%) – Deployed cash we had at end of September in first week of October, IG weight now over 70% (6.10.2026) – Moving a bit up in quality, as HY was slow to widen – Modified duration sill short - 3.80 for fund vs 4.34 for index) – W
Slide 33: Attribution 30.12.25 – 30.09.2026
33 Attribution 30.12.25 – 30.09.2026 INSTRUCTIONS: – Portfolio won the index by 63 bps (gross-of-fees) Total crv (ret): How equal duration governments have returned Exc Crv ret: Excess return from credit bonds – Curve and duration had a slightly positive effect (-1.37 % vs -1.48 %) Spread carry: Car
Slide 34: Attribution 2025
34 Attribution 2025 – Portfolio won the index by 116 bps (gross-of-fees) INSTRUCTIONS: Total crv (ret): How equal duration governments have returned – Curve and duration had a positive effect (0.89% vs 0.71%) Exc Crv ret: Excess return from credit bonds Spread carry: Carry return (assuming spread re
Slide 35: Peer analysis – 3 years
35 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 Corporate Bond B 14,28 1,01 1,27 1,01 92,22 107,68 -2,75 The upper quartile 12,19 1,02 1,09 1,10 112,45 103,38 -2,77 Median 10,97 1
Slide 36: ESG Metrics 30.06.2026
36 EVLI CORPORATE BOND ESG Metrics 30.06.2026 Responsibility score AA Carbon footprint 66 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 INVESTMENTS Exce
Slide 37: Ambition
37 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 38: Responsible investing with 20 years of experience
38 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 39: Four pillars of responsible investing at Evli
39 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 40: Monitoring, engagement and active ownership
40 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 41: Exclusions in practice in all Evli funds
41 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 42: Evli's Climate and Nature Principles
42 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 43: Evli's climate targets
43 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 44: What opportunities does the market currently offer?
44 WHAT OPPORTUNITIES DOES THE MARKET CURRENTLY OFFER? Evli Corporate Bond - Overview of the market CONFIDENTIAL
Slide 45: Evli's European and Global fixed income funds vs. the market
45 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 46: Credit market returns and YTM
46 Credit market returns and YTM Source: Bloomberg, Evli CONFIDENTIAL
Slide 47: Yield curves
47 Yield curves Euro swap curve (10 – 2 yrs) Yield curves Source: Bloomberg, Evli CONFIDENTIAL
Slide 48: Market outlook
48 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 49: Benchmark total return % YTD 2026
49 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 50: Spreads: BBB-rated IG in Europe
50 Spreads: BBB-rated IG in Europe (02/10/2026) Last 5 years Since 1999 Source: ICE BofAML, EVLI CONFIDENTIAL
Slide 51: Spreads: B-rated HY in Europe
51 Spreads: B-rated HY in Europe (02/10/2026) Last 5 years Since 1999 Source: ICE BofAML, EVLI CONFIDENTIAL
Slide 52: Credit metrics (IG + HY)
52 Credit metrics (IG + HY) Investment Grade High Yield Source: ICE BofAML, Bloomberg, Cognitive CONFIDENTIAL
Slide 53: Credit metrics (IG + HY)
53 Credit metrics (IG + HY) Source: FactSet, Bloomberg, S&P Capital IQ, company data, Morgan Stanley Research CONFIDENTIAL
Slide 54: HY: 3-4% annual default rate expected by YE26
54 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 55: The European Credit Market
55 The European Credit Market CONFIDENTIAL
Slide 56: Evli's funds vs. the market
56 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 57: Evli's European and Emerging Markets corporate bond funds in a nutshell
APPENDIX 57 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 58: Evli's Nordic corporate bond and loan funds in a nutshell
APPENDIX 58 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 59: Important information
59 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 60: Disclaimer statement
60 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 61: 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