Record asset quality, improving efficiency and covenant headroom pave the way ahead

STRATEGIC HIGHLIGHTS

  • Data-driven credit decisioning and AI-driven risk model refinement continue to strengthen portfolio quality, with gross NPL declining to 7,6% (31 Mar. 2025: 9,2%).
  • AI-driven product bundling and personalized value proposition drives revenue growth; revenue per customer (LTM) up 11,8% to 493 EUR (3M/2025: 441 EUR).
  • Non-lending revenues grow faster than core lending – insurance brokerage up 71,4% year-over-year, now 5,6% of total revenue (3M/2025: 3,7%).
  • MyIute SuperApp surpassed 1,75 million cumulative downloads (+46,7% year-over-year), accelerating the shift to digital-only customer journeys.

OPERATIONAL HIGHLIGHTS

  • Asset quality improved materially year-over-year: gross NPL ratio at 7,6% (31 Mar. 2025: 9,2%), with impairment coverage at 70,9%.
  • Finco repayment discipline (CPI30) at 89,3% (3M/2025: 87,9%) – the highest level on record, driven by improved risk selection and credit model refinement.
  • Gross loan portfolio at 381,6 million EUR (+19,6% year-over-year; 31 Mar. 2025: 319,0 million EUR); cost of risk improved to 7,7% (3M/2025: 8,1%).
  • Loan payouts up 27,4% to 106,3 million EUR (3M/2025: 83,5 million EUR) across 4.653 active points of sale (+9,3% year-over-year).
  • Headcount at 884 FTE (3M/2025: 908); 100 cardless ATMs operational (+27% year-over-year); digital channels absorbing a growing share of transactions.

FINANCIAL HIGHLIGHTS

  • Adjusted EBITDA up 36,7% to 15,7 million EUR (3M/2025: 11,5 million EUR).
  • Interest income up 10,7% to 26,9 million EUR (3M/2025: 24,3 million EUR); total income up 13,0% to 32,5 million EUR (3M/2025: 28,8 million EUR).
  • Adjusted cost-to-income ratio improved to 32,1% (3M/2025: 38,3%).
  • Net interest margin at 19,3% (3M/2025: 24,5%), reflecting the step-up in refinancing costs of the EUR Bonds 2025/2030 issued in May 2025.
  • FX-adjusted net profit up to 3,5 million EUR (3M/2025: 2,1 million EUR, adjusted for solidarity tax one-off in North Macedonia).
  • Reported net profit at 2,6 million EUR (3M/2025: 3,4 million EUR), reflecting higher interest expense (+29,2%), increased D&A (+35,9%) from technology investment, and FX loss of 960 thousand EUR (3M/2025: gain of 25 thousand EUR).
  • Both Eurobond covenants comfortably met: capitalization ratio at 22,6% (minimum 15%) and ICR at 1,55x (minimum 1,50x).

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

Tallinn, Estonia, 12 May 2026. Iute Group, a leading European personal finance group, reported today unaudited results for 3M/2026.

“Q1 2026 was a positively challenging quarter for the Group. We continued balancing profitability with investments into technology, automation, and geographic expansion while further strengthening the core drivers of Iute’s long-term growth flywheel. Revenue growth, improving credit quality, and stronger operational efficiency demonstrate that our strategy is delivering tangible results. At the same time, we continued building the foundation for scalable digital banking services and the further expansion of the MyIute SuperApp ecosystem across our markets. To support our next phase of profitable growth, the Group is also considering tapping the EUR 2025/2030 Senior Secured Bonds during Q2 2026”, said Tarmo Sild, CEO of Iute Group.

The full unaudited report for 3M/2026 is available under www.iute.com/investor/reports-and-presentations.

Earnings Call:

CEO Tarmo Sild and CFO Kristel Kurvits will comment on the unaudited 3M/2026 results by means of a webcast presentation today, 12 May 2026, 15.00 CEST. The webcast/call will be held in English.

Please register in time to participate in the webcast/call at:

Iute Group – Earnings Call 3M 2026.

The corresponding presentation will also be available on the Company’s website prior to the earnings webcast/call.