Interim Presentation | 2nd quarter 2018 | 15 August 2018

2

Table of contentsOverview

Highlights1

Financials2

3 Strategy and operations

4 Outlook and summary

3

Profit after tax

445

1446

3,212

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018

Solid growth and improved profitabilityQ2 2018 highlights

Note(*): ROE = 4x profit after t in quarter / average total equity in the quarter

• Growth in net loans 122% from Q2 2017

• Net interest income NOK 81.8 million

• Net cost/income ratio 49%

• Profit after tax NOK 13.8 million

• ROE 10.2%

• Expecting FY’18 profit after tax: NOK 55 - 60 million

• Euro denominated deposits from Germany, Austria,

France and Spain through Raisin

• Successful launch of credit card platform Mono Pay

• The first sale of non-performing loans under the

forward flow agreement with Axactor

• Strengthening management team with Chief

Product Officer focusing on fin tech business

NOK million

Net loans

-3.9

0.5 1.7 1.8 3.05.7 7.4

10.113.8

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018

NOK million

4

Table of contentsOverview

3 Strategy and operations

4 Outlook and summary

Financials2

Highlights1

5

Key yields and margins

11.7 15.222.7

29.937.1

44.6

55.9

68.8

81.7

-0.6 -0.8 -1.0 -1.7 -2.6 -3.1 -2.7 -4.5 -6.6

11.114.5

21.7

28.2

34.5

41.5

53.2

64.3

75.1

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Net interest income Net comission and fee income

15.2 % 14.9 % 14.8 % 14.6 % 14.3 % 14.2 % 14.3 % 14.4 % 14.4 %

12.3 %12.7 % 12.7 % 12.8 % 12.8 %

8.5 %8.1 %

8.8 % 8.7 % 8.7 %8.0 %

7.7 % 7.8 %8.3 %

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Annualized loan yield (Norway) * Annualized loan yield (Finland) *

Annualized NIM ***

High and stable margins

Note(*): yield = weighted average effective annual yield || Note(**): actual end of quarter annual rate || Note(***): NIM = 4x NII in quarter / average total assets in quarter

Total income

per cent (%) NOK (million)

6

Efficient and scalable operations

Note(*): cost / income ratio = operating expenses (incl. or excl. marketing) / total income

Operational expenses

NOK (million)

3.62.2

6.5 5.5 6.2 6.9 8.0 8.0

12.74.5

3.4

4.3 5.66.3 6.1

8.6 9.6

9.6

4.2

3.6

4.6

8.18.0 7.7

11.3

14.6

12.0

0.6

0.5

0.3

1.11.5 2.0

1.4

2.1

2.4

12.9

9.7

15.8

20.3

21.922.7

29.2

34.2

36.7

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Staff costs Other administrative expenses

Marketing expenses Depreciation and amortisation

per cent (%)

Cost / Income ratio *

116%

67%73% 72%

64%

55% 55% 53%49%

78%

42%

51%

43%40%

36%34%

30%33%

0%

20%

40%

60%

80%

100%

120%

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Cost / Income Ratio Cost (excl. marketing) / Income Ratio

7

Satisfactory loan losses and credit qualityPortfolio risk under control through diligent credit risk management and fine-tuning of scorecards

Note(*): loan loss ratio = LTM loan losses / average LTM net loans / 2) || Note(**): non-performing loan ratio = >PD90 / gross loans || Note(***): provision ratio = total provisions / >PD90

Gross loans past due (# of days)

NOK (million)NOK (million)

ProvisionsLoan losses

NOK (million)

Total provision ratio ***Loan loss ratio * Non-performing loan ratio **

per cent (%)per cent (%)per cent (%)

3.20%

3.20%

3.20%

3.2 %

2.9 %

2.2 % 2.2 %2.2 %

2.4 %

2.6 %2.7 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2015 2016 2017 2018

40.7 58

.7

94.7 13

5.7 18

9.1

251.

7

332.

5

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

31-60 PD 61-90 PD > 90 PD

n.a. n.a.

3.7 %

4.8 % 4.9 %

6.4 %7.1 %

7.9 %8.5 %

10.1 %

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2016 2017 2018

5.79.9

13.518.4

26.3

37.3

50.7

69.5

86.4

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

n.a. n.a.

n.a. 31.4 %27.8 %

27.5 %

26.8 %

27.6 %

25.9 %

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018

3.1 4.2 3.7

4.9

8.3

10.9

13.8

19.1 18.8

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

8

524

638 90

3

1,13

8 1,55

6 2,04

3 2,65

2 3,05

7 3,43

4

98

99

157

331

335

339

345

522

534

548

680794

1,235

1,472

1,895

2,487

3,272

3,689

4,081

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Deposits by customers Subordinated loan Equity

Stable funding and adequate liquidity

Note(*): deposit ratio = deposits / net loans

Easy access to low-cost deposit funding – Surplus liquidity invested in low-risk assets

LiquidityFunding

NOK (million)

Key ratios

158

110

301

220

325

489

758

625 68

7

49

28

51

35

52

64

56

65

50

208

138

352

255

377

552

814

691

737

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Debt securities Loans and advances to banks

NOK (million)

n.a.

102%108%

98%

108%

109% 113%

106% 107%

n.a.

159%

168%

153%n.a.

153%

167%

160%

163%

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

Deposit ratio * NSFR LCR

9

17.2

%

20.5

%

17.7

%

27.8

%

21.5

%

21.6

%

20.0

% 24.2

%

21.3

%

20.6

%

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

CET1 T1 * T2 *

Regulatory capital structure

Note(*): As of Q2 2018 NOK 35m Tier 1 (1.5% of RWA) and NOK 47m Tier 2 (2.0% of RWA) capital counts towards MONO’s capital adequacy ratios || Note(**): capital requirements (Pillar I) are weighted between Norway and Finland

Risk-weighted assetsRegulatory capital Reported capital adequacy **

CET1 Capital

Req. = 13.6%

Total Capital

Req. = 17.1 %

per cent (%)NOK (million) NOK (million)

140 139

309 306 302

363

583 592604

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

CET1 T1 * T2 *

683 78

5

1,10

7

1,42

3

1,40

1

1,81

9

2,33

3

2,76

5 2,94

0

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018

75% loans 100% loans Other RWA

10

Table of contentsOverview

4 Outlook and summary

Highlights1

3 Strategy and operations

Financials2

11

Scalable and adaptable business model

12

Operational highlightsEstablished position in digital consumer banking provides basis for new opportunities

• Euro denominated deposits from Germany, Austria, France

and Spain through Raisin, a German online deposit platform

• Successful launch of Monobank’s unique and innovative

credit card platform, Mono Pay, a combined credit card and

mobile payment app in late May

• Strengthening management team with Chief Product Officer,

Henriette Vartdal focusing on emerging fin tech business

Strong and diversified core business

36

3,212

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2015 2016 2017 2018

Norway Finland

Net loans NOK million

New business opportunities

13

Preparing tomorrow’s technology and solutionsAgile and adaptable – key for survival

14

Launched innovative credit card platform Mono Pay in May

• A combined credit card and

mobile payment application

• The mobile app connected to

the card is a vital part of the

platform

- Contains user friendly

features that materially

differentiate the card from

the competitors.

- The app and its unique

features have been very well

received by its users

15

Table of contentsOverview

4 Outlook and summary

Highlights1

3 Strategy and operations

Financials2

16

Outlook

* Included negative net effect of NOK 13 – 14 million after tax for development costs related to the Credit card platform

Profitable

organic growth

Multi-country

operation

Emerging fin tech

business

• Attractive margins in Norway and Finland enables high organic growth

• FY2018 profit after tax: NOK 55 – 60 million*

• Efficient and scalable operation

• Diligent credit risk management

• Operationalize and fine-tune the Finnish consumer loan portfolio

• Expand eurofunding through Raisin further

• Launch consumer loan business in Sweden in Q1 2019

• Launch of joint credit card with Widerøe and Eurobonus in September

• Identify potential partners for the credit card platform

17

Profit after tax

445

1446

3,212

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018

SummarySolid growth and improved profitability

Note(*): ROE = 4x profit after t in quarter / average total equity in the quarter

• Growth in net loans and profit after tax continues

• Expecting FY’18 profit after tax: NOK 55–60 million

• Geographical expansion

• Credit card platform Mono Pay launched

• Strengthening management team with CPO

NOK million

Net loans

-3.9

0.5 1.7 1.8 3.05.7 7.4

10.113.8

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018

NOK million

18

Appendix

19

Customer segmentationContinuous development and tuning of scorecards to navigate the portfolio

3%

31%

65%

Primary school

Secondary school

Higher education

26%

28%

28%

14%3%

<= 34 years 35-44 years

45-54 years 55-64 years

>= 65 years

69%

31%

Home owner

Tenant

43 years4%

22%

35%

38%

NOK 250k-349k

NOK 350k-499k

NOK 500k-749k

>= NOK 750k

Age Income Education Housing Average customer

No

rway

Fin

lan

d

NOK 631k

Higher education

Home owner

44 years

NOK 456k

Higher education

Home owner

12%

8%

48%

26%

4%

<= 34 years 35-44 years

45-54 years 55-64 years

>= 65 years

25%

32%

29%

14%

NOK 250k-349k

NOK 350k-499k

NOK 500k-749k

>= NOK 750k

12%

8%

79%

Primary school

Secondary school

Higher education

72%

28%

Home owner

Tenant

20

Detailed financial figuresQuarterly income statement and balance sheet

Balance SheetIncome Statement

21

Important InformationDisclaimer

21

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