Landshypotek Bank (LHB) investor relations material

Executive summary

• Market-leading, low-risk agriculture and forestry lender with a 23% market share and sustainability integrated into strategy.

• Operating profit rose to SEK 129 million in Q1 2026, up from SEK 124 million year-over-year and SEK 102 million sequentially from Q4 2025, driven by stable net interest income and low credit losses.

• Lending to the public grew to SEK 118.8 billion, an increase of approximately SEK 5 billion year-over-year, while deposits from the public declined to SEK 25.2 billion.

• Profits are reinvested or returned to the agriculture and forestry sectors.

• The cautious market environment, rising interest rates, and geopolitical uncertainty influenced both customer behavior and the bank’s operations.

Financial highlights

• Net interest income increased in Q1 2026 compared to both Q4 2025 and Q1 2025, reaching SEK 293 million.

• Total lending grew 7% year-over-year to SEK 118.2bn; lending to agriculture up 4%, mortgage lending up 15%.

• Operating profit for Q1 2026 was SEK 129m, up from SEK 124m in Q1 2025.

• Credit losses negatively impacted net earnings by SEK -3m in Q1 2026, improved from SEK 7m in Q1 2025.

• Expenses increased compared to Q1 2025, partly due to strategic initiatives, totaling SEK 169 million.

Outlook and guidance

• The bank aims to grow with new and existing customers, focusing on retail (agriculture and residential), and continues to invest in strategic initiatives to enhance customer value.

• Plans to increase green lending by 50% by 2030 from 2024 levels.

• Ongoing commitment to sustainability, including annual revision of the climate transition plan and continued publication of sustainability reports.

• Management expects continued cautiousness in the market due to global uncertainty, but sees ongoing opportunities in agriculture and digital services.