Q1 2026 Results Presentation

‌Results for Q1 2026

May 15, 2026

‌Agenda

1. Financial data
2. Operating data
3. Market environment
   
   
   
   ‌Selected consolidated financial data

   in PLN '000	Q1 2026	Q4 2025	Change	Q1 2025	Change
   Net result on operations in financial instruments	1 065 748	579 142	486 606	557 846	507 902
   Net interest income on client cash	20 197	21 294	(1 097)	17 807	2 390
   Other income	8 073	8 908	(835)	4 631	3 442
   Total operating income	1 094 018	609 344	484 674	580 294	513 724
   Marketing	(235 429)	(179 047)	(56 382)	(141 034)	(94 395)
   Salaries and employee benefits	(122 057)	(115 162)	(6 895)	(95 043)	(27 014)
   Other external services	(32 563)	(38 881)	6 318	(29 551)	(3 012)
   Commission expenses	(27 816)	(24 843)	(2 973)	(33 834)	6 018
   Other costs	(46 444)	(24 362)	(22 082)	(16 355)	(30 089)
   Total operating expenses	(464 309)	(382 295	(82 014)	(315 817)	(148 492)
   Profit on operating activities (EBIT)	629 709	227 049	402 660	264 477	365 232
   Finance income	30 999	5 903	25 096	13 870	17 129
   Finance costs	(297)	(12 489)	12 192	(43 788)	43 491
   Profit before tax	660 411	220 463	439 948	234 559	425 852
   Income tax	(125 369)	(39 543)	(85 826)	(40 636)	(84 733)
   Net profit	535 042	180 920	354 122	193 923	341 119

   Total operating income Q1 2026 vs Q1 2025 (PLN M)

   +88.5%

   1 094

Q1 2025 Q1 2026

Net profit (PLN M)

+175.9%

EBIT (PLN M)

+138.1%

‌Consolidated operating income and operational results on a quarterly basis

Total operating income (PLN M)

Transaction volume in CFD instrument in lots (in thousand)

Profitability per lot (in PLN)

382

470

465

580 581

610

376

1094

1 461

1 627

1 657

232

272

253

277

229

208

152

1 908 2 322

2 094

2 543 2 323

Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2025

Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2025

‌Net gain on transactions in financial instruments by classes

Gross revenue breakdown from instrument transactions (in %)

5,1%

29,1%

52,3%

13,5%

Q1 2026

4,3%

88,5%

5,1%

2,1%

Q1 2025

Periodic changes in the gross revenue structure from financial instrument operations are natural and driven by investment decisions made by clients. These decisions, in turn, are significantly influenced by the conditions prevailing in the financial and commodity markets during the period.

Index CFDs Currency CFDs

Commodity CFDs Other

61,2%

8,5%

18,3%

12,0%

Q4 2025

‌Group's revenue structure

Group revenue by geography

Geographical breakdown of Group revenue

72%

Q1

2026

21%

3%

4%

19%

67%

Q1

2025

6%

8%

1 XTB International Ltd., a Belizean subsidiary, onboard clients from Latin America and the rest of the world (outside Europe). Revenue generated from Middle Eastern clients onboarded by this entity is excluded from this position.

2 Revenue from clients in the Middle East region, acquired by Belize-based XTB International Ltd., as well as XTB MENA Limited and XTB Financial Services

L.L.C based in the United Arab Emirates.

Group revenue by business segment

Q1 2026

Q4 2025

Q1 2025

Central Eastern Europe Western Europe

Latin America Middle East

Group's revenue breakdown by segment

2.4%

1.4%

2.5%

Retail operations Institutional operations (X Open Hub)



‌Operating expenses of XTB Group by type

Group's operating expenses Q1 2026 vs Q1 2025 (in PLN '000)

Q1 2025 Q1 2026

+66.9%

+28.4%

Marketing Salaries and employee benefits

Structure of the Group's operating expenses

in Q1 2026

10%

7%

6%

51%

26%

Marketing

Salaries and employee benefits

Commission costs

Other external services

Other costs



‌Own cash

Dividend per share for the given year (PLN)

4.86

5.02

5.45

4.07

1.5

Cash structure

95%

5%

31.03.2026

31.12.2025

2021 2022 2023 2024 2025

*in accordance with the Company's dividend policy.

100%

Own cash Bonds

‌Agenda

1. Financial data
2. Operating data

   9

3. Market environment

‌KPIs and marketing costs vs new clients Q1 2025 Q1 2026

+72.4%

1267 467

+90.4%

735 389

370 041

194 304

New clients Active clients

1. Number of active clients in specific periods. An active client is defined as a client who, in a given period: (i) executed at least one transaction, and/or (ii) held an open position, and/or (iii) held uninvested funds in the account subject to interest.

2. Net deposits represent deposits made by clients minus amounts withdrawn by clients in a given period, excluding deposits and withdrawals executed via eWallet.

3. The Group's operating revenue in a given period divided by the number of active clients in that period.

4. Average Customer Acquisition Cost (CAC) is defined as total marketing

expenditure in a given period divided by the number of new clients acquired in the same period..

Marketing costs vs. Customer Acquisition Cost (PLN thousands)

179 047

141 034 141 495

116 855 123 322

81 106 75 234 71 613

235 429

Q1 2025 Q1 2026

+42.5%

5 880 056

4 126 679

+21.8%

2 323 204

1 907 974

Net deposits (in PLN'000) Turnover of CFD

instruments (in lot)

Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

‌Product plan

Long-term investment products

Cash ISA account

for clients in the United Kingdom

OKI account

for clients in Poland

Expansion of the pension

accounts offering to other European countries

Crypto assets Options

Margin trading -trading using financial leverage

Investment Plans 2.0

Extended trading hours

Planned

In progress

Completed

‌Activities in Q1 2026

Products

Launch of options trading in Cyprus (call and put options on the 100 most popular US stocks); by the end of Q1, the product was also rolled out to the German and Spanish markets. Introduction of an innovative feature allowing options trading in fractional volumes.

Addition of the Cash ISA savings account to the offering for UK tax residents. The account enables long-term investing within a tax wrapper.

Technology & Cybersecurity

• Emergency Lock feature: An emergency account lock has been implemented in the mobile app. It allows clients to manually block trading, withdrawals, and the eWallet service if they notice unrecognized transactions or suspect they have fallen victim to a phishing attack.

• Phone call verification: This feature enables clients to confirm directly within the app whether the person calling them is a genuine XTB employee.

  12

• UX and payment enhancements: The mobile app features a new screen that improves the presentation of the product offering. Furthermore, a native card deposit process (requiring no external redirects) has been rolled out in Poland, Germany, Spain, and Slovakia, aimed at enhancing security and user convenience.

‌Activities in Q1 2026

International operations

United Arab Emirates (UAE): The Company has secured Category 1 and 2 licenses. This paves the way for providing full brokerage services in the region.

Marketing

• Partnership in France: Signed a sponsorship agreement with Paris La Défense

  Arena, the largest indoor venue in Europe.

• Partnership with FIBA: Concluded a strategic, global partnership with the International Basketball Federation (FIBA). XTB became a sponsor of the men's and women's Basketball World Cups.

• SSC Napoli sponsorship: Signed a global partnership agreement with the Italian football club SSC Napoli (valid until the end of the 2026/2027 season), marking XTB's first-ever collaboration with a club from the top 5 European leagues.

• Intensive advertising campaigns: In Poland, a broad-reach campaign featuring brand ambassador Zlatan Ibrahimović was rolled out, covering TV, cinemas, and outdoor media across 45 cities. In foreign markets (incl. the UK, France, and Romania), TV and radio campaigns were conducted. Furthermore, for the first time in the brand's global history, wrapped buses and trams were utilized.

‌Agenda

1. Financial data
2. Operating data

   14

3. Market environment

‌Client assets

Nominal value of client assets at period-end

‌Financial instruments

Stocks, ETFs, CFDs: Percentage share of the top 10 most popular instruments per asset class in Q1 2026 Percentage share of the top 10 most profitable financial instruments in gross revenue from instrument

transactions in Q1 2026

‌CFD trading volume by trading platform

% share of CFDs turnover in nominal value by trading platform

56%

57%

56%

56%

59%

62%

64%

60%

36%

38%

36%

37%

35%

27%

29%

29%

7%

8%

9%

11%

11%

7%

6%

7%

Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

xStation xStation Mobile MT4



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The Presentation has been prepared by XTB S.A. with its registered office in Warsaw (the "Company") solely for use at the investor presentation being given in connection with the publication of the Report for Q1 2026.

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