Aprila Bank (APRILA) investor relations material

Executive summary

• Q3 pre-tax profit rose 20% YoY to NOK 21.3m; underlying pre-tax profit was NOK 23m after excluding NOK 1.7m in redomiciliation costs.

• Total income increased 14% YoY to NOK 69.8m and gross lending grew 30% to NOK 1,775m.

• Q3 ROE was 20.0%, LTM ROE was 22.9%, and quarter-end CET1 was 30.9%.

Financial highlights

• Q3 net interest income was NOK 60.4m, net commission and fee income NOK 5.6m, and net gains on financial instruments NOK 3.8m.

• Q3 pre-tax profit and profit after tax were NOK 21.3m; EPS was NOK 0.29. No tax was recognized in the first nine months due to tax loss carryforwards.

• YTD total income was NOK 204.9m and pre-tax profit was NOK 70.7m, versus NOK 177.2m and NOK 49.4m a year earlier.

• Loan losses were NOK 11.1m, including NOK 10.6m net realised losses and NOK 0.5m in provisions.

Outlook and guidance

• 2026 year-end total income run-rate target is NOK 285m–295m; cost/income guidance is ~54%, or 50% excluding one-offs.

• Guidance reflects redomiciliation expenses and an expected Q4 impairment of the old core banking platform; lending growth and a controlled yield decline are key income drivers.

• Redomiciliation to Liechtenstein is expected to be completed by end-Q2 2027; it is intended to improve capital efficiency and support growth.

• The new core banking platform is expected to be fully in use toward year-end 2026, with limited day-to-day operational impact during migration.