Rikard Josefson, CEOBirgitta Hagenfeldt, CFO

Q1 2020 results presentationWebcast, 21 April 2020

Strong customer growth throughout the quarter, +86 100

2

Record-high net inflow in Q1, SEK 21.9 billion

3

Record high activity, throughout the quarter

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Tu

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No. commission generating notes, thousands

Commission generating turnover, SEK m

Increased market shares – largest Swedish player on Nasdaq OMX and First North

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Q2

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-16

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Q3

-16

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-16

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-18

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-20

Ma

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re, %

Transactions

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-15

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-16

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-16

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-16

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-17

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-17

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-18

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Turnover

• Market share of 16.6% in terms of transactions and 7.6% in turnover in Q1 2020

A few launches in the quarter, intensified focus on customer communication

• Avanza Europe launched – a supplement to our cheap index funds

• The fund pages improved with more sustainability data

• More ETF:s were added

• Several improvements on the site

• Customers have requested more support during the crises and we have published more podcasts and blogs than ever

6

Further investments to ensure continued high customer satisfaction

• Strong growth over the years

• Extremely high customer activity

• Continuous efficiency improvements as well as simplifications and new decision support on the website – come to a point where more is needed

• Additional investments to be made

• More employees in customer service

• More employees as well as further automate and improve back-office

• Scaling up IT capacity

• Altogether additional SEK >10 million in costs 2020

7

How sustainable is Q1 as a reference and what are the expected impacts from covid-19?

• Activity expected to decline from these record levels, although the lowest level should have increased seen to our strong growth

• High outflow from funds, however this stabilised during the end of the quarter

• Currently high liquidity, expected to gradually be invested

• So far only marginal effects within the pension business, and limited exposure to vulnerable sectors

• The long-term strategy and targets remain

8

Growth factors still very relevant

• Continued low interest rates for the foreseeable future

• Several reasons for customers to take responsibility for their own savings, this has been even more obvious the last months – this refers not only to young people

• Still strong and increasing focus on sustainable investments

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As always… key success factors for Avanza

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Employee engagement key

FinancialsQ1 results

11

Financial overview

* including one-off write down of SEK 8.3 million

Q1 20 Q4 19 ∆ % Q1 19 ∆ %

Operating income, SEK m 542 329 65 268 102

Operating expenses, SEK m -179 -187* -4 -164 9

Operating profit, SEK m 361 140 158 100 261

Operating margin, % 67 43 24 37 29

Income to savings capital ratio, % 0.56 0.34 0.22 0.34 0.22

Costs to savings capital ratio, % 0.18 0.19 -0.01 0.21 -0.02

ROE, % 64 26 39 23 41

EPS, SEK 1.98 0.79 152 0.57 245

Quarterly revenue development

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244 234 227

271 271

244267 267 268

284

313329

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Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

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Total income Net brokerage income Income from mutual funds Net interest income Other commission income

Quarterly cost development

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124131

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157152 153

135155

164 166

148

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Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20

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Total expenses Non-reccuring items Personnel Marketing Depreciation Other expenses

Capitalisation

15

SEK m 31 March2020

31 December2019

31 March2019

Total capital ratio 18.1% 17.8% 17.1%

Regulatory capital requirements* 12.0% 14.4% 14.1%

Capital requirements incl. internal buffers 14.0% 16.4% 16.1%

Liquidity coverage ratio (LCR requirement 1.0) 9.0 6.8 2.6

Leverage ratio (requirement of 3%, as of June 2021) 2.5% 3.5% 2.9%

* Including external buffers and Pillar 2 requirements