Enity (ENITY) investor relations material

Business and Market Positioning

• Operates as a leading Nordic specialist mortgage bank, focusing on non-traditional borrowers with complex or limited credit backgrounds, and 100% secured mortgage lending in an underpenetrated niche.

• Active in Sweden, Norway, and Finland, with a slightly larger presence in Norway and diversified loan book distribution.

• Addresses a growing segment underserved by traditional banks, with specialised mortgages representing less than 1% of the total Nordic mortgage market.

• Uses multiple consumer brands, including Bluestep Bank, Bank2, and 60plusbanken, and owns intermediaries Eiendomsfinans and Uno Finans to expand distribution.

• Offers tailored mortgages, second charge loans, and equity release loans, all 100% secured and designed for underserved segments.

Strategic Development and Growth

• Transitioned from private to public ownership in June 2023, with a history of organic and acquisition-driven expansion, including the acquisition of Bank2 in Norway in late 2023.

• Built scalable, cloud-based infrastructure and invested in digitisation, automation, and customer experience to support further growth and efficiency.

• Shifted to a 100% on-balance-sheet funding model, launched capital markets programs, and enhanced tech and organizational platforms.

• Continues to assess opportunities for further acquisitions or market entries in Europe, especially in Norway, Finland, and Sweden.

• Distribution strengthened through partnerships and potential acquisitions.

Market Trends and Regulatory Environment

• The addressable market for their niche is just under SEK 400 billion in 2024, with current penetration at 0.5% and expected to double by 2027.

• Demographic drivers include an aging population and more customers with non-traditional employment.

• Regulatory changes favor mortgage lending over consumer loans, with eased requirements for mortgages and stricter rules for unsecured lending.

• Nordic mortgage market is robust, profitable, and supported by favorable macroeconomic and regulatory trends.

• Actively monitoring regulatory changes in Sweden that may impact loan intermediaries and distribution channels.