MONETA Money Bank : Press release 1Q 2023

PRESS RELEASE

In Prague, 27 April 2023

MONETA delivers CZK 1.2 billion net profit,

resulting in Return on Tangible Equity of 16.8 per cent

• Operating income reached CZK 2.8 billion supported by 19.4 percent growth of fees and commissions
• Operating costs stable at CZK 1.5 billion, despite inflationary pressures and higher mandatory regulatory contributions
• Cost of Risk generated net release of CZK 116 million due to successful NPL disposals and good performance of the loan portfolio
• Deposit base increased to CZK 349.9 billion, reinforcing liquidity and volume of high-quality liquid assets
• Net profit of CZK 1.2 billion, resulting in RoTE of 16.8 percent
• Capital Adequacy ratio at 18.1 percent with excess capital position of CZK 2.5 billion

Prague, 27 April 2023 - MONETA Money Bank ("MONETA") today announced its results for the first quarter of 2023. Net profit reached CZK 1.2 billion, representing a Return on Tangible Equity of 16.8 per cent. This was in line with the market guidance given in February 2023. Net profit was primarily impacted by a decrease in net interest income, in line with expectations and mainly due to the continuing need to offer competitively priced deposits.

MONETA delivered net interest income of CZK 2 billion. Net fee and commission income increased by 19.4 per cent year-on-year to CZK 616 million, thanks to an acceleration in the distribution of third-party products, where insurance related income contributed CZK 282 million and asset management fee income contributed CZK 72 million. Overall, total operating income reached CZK 2.8 billion.

Total operating costs for the quarter were stable at CZK 1.5 billion, despite the inflationary environment and higher mandatory contribution to regulatory funds. This contribution rose by 22 per cent year-on-year to CZK 267 million and is directly linked to our significant growth in client deposits. Headcount decreased by 12.8 per cent to 2,553 as of 31 March.

MONETA's Cost of Risk in the first quarter recorded a net release of CZK 116 million, or positive 0.17 per cent, measured against the average net loan portfolio. The Cost of Risk result is better than expected and was positively impacted by successful disposals of non-performing loans ("NPL"), which generated an income of CZK 221 million. The loan portfolio continued to perform well due to good repayment discipline across products and client segments.

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MONETA Money Bank, a.s. | Vyskočilova 1442/1b, 140 28 Praha 4 - Michle | Company ID 25672720 | Registered by the Municipal Court in Prague, Section B, Insert 5403 | tel.: +420 224 443 636 | www.moneta.cz

PRESS RELEASE

MONETA's NPL ratio fell to its lowest level ever of 1.3 per cent. This compares positively to 1.8 per cent in the same period last year.

Our regulatory capital position remained strong and stable at CZK 30.8 billion. The capital adequacy ratio stood at

18.1 per cent, and our excess capital above the management target of 16.6 per cent was CZK 2.5 billion. MONETA, on a standalone basis, has received from the Czech National Bank (CNB) the updated requirement for capital and eligible liabilities (MREL), which will increase from 23.1 per cent to 23.2 per cent (including a 1 per cent management buffer) by year end 2023. Therefore, management expects a need to raise additional capital in the amount of approximately CZK 3.5 billion to meet MONETA's year-end capital requirement. MONETA plans to offer subordinated deposit instrument in May 2023 to begin to address the capital requirement.

MONETA's liquidity position at the end of the first quarter was the strongest since the IPO in 2016. High-quality liquid assets stood at CZK 108 billion, representing 31 per cent of the CZK 349.9 billion client deposit base and 39 per cent of the CZK 279 billion on-demand client deposits. High-quality liquid assets rose by CZK 44 billion year-on-year. Our liquidity coverage ratio was reported at 274 per cent, which is well above the regulatory limit of 100 per cent. Deposit insurance covers 83 per cent of client deposits.

During 2022 MONETA made tax contributions to the state budget of CZK 3.6 billion, which represents an increase of 60 per cent on 2021. MONETA ranks among the largest taxpayers in the Czech Republic: since 2016 MONETA has paid CZK 19 billion to the state budget. The significant increase in tax payments was mainly due to a 30 per cent year-on- year increase in MONETA's consolidated profit, withholding tax deducted from customer deposit interest, which increased fourfold, and thirdly, withholding tax on dividends.

MONETA reported an effective tax rate of 14.1 per cent for the first quarter against 19.3 per cent in the first quarter last year, predominantly due to investments in government bonds, the interest from which is exempt from corporate income tax.

MONETA's gender pay-gap, as defined by the Bloomberg Gender-Equality Index, narrowed to 1.98 per cent from

2.79 per cent, year-on-year. By comparison the average gross pay gap in the European Union is 13 per cent, and in the Czech Republic it is 16.4 per cent. MONETA is the only Czech participant in this index amongst the 484 companies globally.

Development of lending activity1

MONETA's loan portfolio increased year-on-year by 3.4 per cent in the first quarter to reach CZK 267.3 billion. Given the current economic uncertainties, MONETA has taken a more prudent approach to providing new lines of credit. New lending volumes are decreasing across the whole portfolio, which reflects a more conservative view on origination. At the same time MONETA has seen lower attrition rates because of a market environment where clients are unable to switch to lower interest rates. The retail loan portfolio increased 4.1 per cent year-on-year to CZK 185.4 billion and the commercial portfolio increased by 1.9 per cent year-on-year to CZK 82 billion.

1 Lending/loan portfolio represents gross performing receivables.

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MONETA Money Bank, a.s. | Vyskočilova 1442/1b, 140 28 Praha 4 - Michle | Company ID 25672720 | Registered by the Municipal Court in Prague, Section B, Insert 5403 | tel.: +420 224 443 636 | www.moneta.cz

PRESS RELEASE

In the retail segment the mortgage portfolio increased by 5.6 per cent year-on-year, with the balance standing at CZK 132.3 billion as at 31 March. New mortgage lending declined by 61 per cent year-on-year, reflecting the high interest rate environment, a more cautious approach to lending and the corresponding increased lending criteria. Consumer lending was stable at CZK 48.1 billion. Our auto loan portfolio increased by 7.6 per cent year-on-year to CZK 2.6 billion.

In the commercial segment, investment loans remained stable at CZK 46 billion. Working capital loans decreased by

2.5 per cent to CZK 13 billion year-on-year. The small business loan portfolio increased by 18.5 per cent year-on-year to CZK 12.6 billion. Auto commercial loans grew 11.5 per cent year-on-year to CZK 7.1 billion.

Digital distribution

The number of digital users at MONETA continues to grow. The award-winning Smart Banka is now used by more than 934,000 clients, up 55.4 per cent year-on-year, and the application accounted for 67 per cent of all client online transactions in the first quarter. MONETA's digital channels delivered excellent results in the distribution of deposit products. In the first quarter of 2023, 46 per cent of new retail current accounts, 63 per cent of new retail savings accounts and 53 per cent of new retail term deposits were opened online. In total, 48 per cent of consumer lending new volumes and 29 per cent of small business instalment loan new volumes were originated through digital channels in the year-to-date.

Third-party products

MONETA's sales of third-party products, particularly pension and life insurance, were strong in the first quarter. Sales of pension insurance contracts were particularly high, increasing by more than 500 per cent year-on-year, with more than 10,000 new contracts signed during the quarter. MONETA's investment fund portfolio reached CZK 30.9 billion as at 31 March, and generated a fee income of CZK 72 million for the quarter, down 1.9 per cent year-on-year.

Deposit taking activity

MONETA increased its core client deposit balance to CZK 349.9 billion at the end of the first quarter, a historic high. Retail customer deposits increase by 19.6 per cent from 31 March 2022 to CZK 267.9 billion. Commercial core customer deposits increased 17 per cent year-on-year to CZK 82 billion.

Loan portfolio quality

The quality of MONETA's loan portfolio further improved during the period under review. The NPL portfolio stood at CZK 3.5 billion. The ratio of NPLs decreased year-on-year from 1.8 per cent to 1.3 per cent. The improved NPL ratio resulted from successful disposals of NPLs with a nominal value of CZK 584 million, a good portfolio performance and upgrades of NPL exposures thanks to continued good payment discipline of MONETA's client. Overall coverage through loan loss provisions of the loan book decreased from 2.1 per cent in the first quarter of 2022 to 1.8 per cent at the end of the first quarter 2023.

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MONETA Money Bank, a.s. | Vyskočilova 1442/1b, 140 28 Praha 4 - Michle | Company ID 25672720 | Registered by the Municipal Court in Prague, Section B, Insert 5403 | tel.: +420 224 443 636 | www.moneta.cz

PRESS RELEASE

PROFITABILITY AND RETURN ON CAPITAL

• Total operating income of CZK 2.8 billion, down 6 per cent year-on-year. This was largely due to net interest income falling by 16.2 per cent as a result of increased Cost of Funds, while net fee and commission income grew by 19.4 per cent year-on-year.
• Reported total operating expenses of CZK 1.5 billion, which were kept broadly stable given the high inflationary environment and the rise, by 22 per cent, in contributions to regulatory funds.
• Operating profit reached CZK 1.3 billion, down 13.6 per cent.
• Total Cost of Risk exceeded expectations at positive 0.17 per cent, amounting to a net release of CZK 116 million, which was driven mainly by NPL disposals delivering a gain of CZK 221 million and overall good payment discipline of MONETA's clients.
• Income tax of CZK 200 million with an effective tax rate at 14.1 per cent, significantly lower than guided due to tax optimalisation and higher investments into government bonds which are tax exempt.
• Net profit of CZK 1.2 billion, down 5.8 per cent on the same period in 2022, in line with published market guidance.
• Return on Tangible Equity was reported at 16.8 per cent.

BALANCE SHEET AND CLIENT BASE

Overall balance sheet reached CZK 404.6 billion in the first quarter, up 10.1 per cent year-on-year. The size of the balance sheet was positively impacted by focused efforts on deposit growth.

Investment securitiesportfolio of CZK 80.2 billion, up 64.1 per cent year-on-year, consisting of 95 per cent of Czech government bonds.

Overall loan portfolio2at CZK 267.3 billion, up by 3.4 per cent year-on year, mainly driven by:

• Retail lending2 was up 4.1 per cent year-on-year and reached CZK 185.4 billion. The retail loan portfolio constitutes 69 per cent of MONETA's total loan portfolio.
• • Mortgage lending up 5.6 per cent year-on-year to CZK 132.3 billion.
  • Consumer lending stable at CZK 48.1 billion.
  • Auto loans up 7.6 per cent year-on-year to reach CZK 2.6 billion.
  • Credit cards and overdrafts broadly stable at CZK 2.4 billion.
• Commercial lending2 was up by 1.9 per cent year-on-year and reached CZK 82 billion, which represents 31 per cent of MONETA's total loan portfolio, of which small business lending constitutes 5 per cent.
• • Investment loan portfolio stable at CZK 46 billion.
  • Working capital portfolio decreased by 2.5 per cent year-on-year to CZK 13 billion.
  • Small business lending grew by 18.5 per cent year-on-year to CZK 12.6 billion.

2 Gross performing loans.

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MONETA Money Bank, a.s. | Vyskočilova 1442/1b, 140 28 Praha 4 - Michle | Company ID 25672720 | Registered by the Municipal Court in Prague, Section B, Insert 5403 | tel.: +420 224 443 636 | www.moneta.cz

PRESS RELEASE

• Auto loans grew by 11.5 per cent year-on-year to CZK 7.1 billion.
• Leasing portfolio down by 25.5 per cent year-on-year to CZK 3.2 billion in line with MONETA's strategy.

Funding baseincreased by 17.7 per cent year-on-year to CZK 362.3 billion:

• Retail core customer depositsrose 19.6 per cent to CZK 267.9 billion, which represents 74 per cent of the total funding base.
• Commercial core customer depositsincreased by 17 per cent year-on-year to CZK 82 billion, which represents 23 per cent of the total funding base.
• Wholesaledecreased by 9.7 per cent year-on-year to CZK 12.4 billion, which represents 3 per cent of the total funding base.

Online distribution:

• Digital platform - first quarter 2023 performance:
• • 46 per cent of new retail current accounts opened online.
  • 63 per cent of new retail savings accounts opened online.
  • 53 per cent of new retail term deposits opened online.
  • Share of digital consumer lending3 on total new production reached 48 per cent.
  • Digital small business instalment lending accounted for a 29 per cent share of total new small business instalment lending.

Client base:MONETA's client base increased by 4.6 per cent year-on-year to 1.5 million clients.

COST OF RISK AND ASSET QUALITY

• Cost of Risk in the first quarter recorded a net release of CZK 116 million, or positive 0.17 per cent. This was driven by delivered income from NPL disposals and also by upgrades of loans classified as NPLs due to COVID- 19 impact. The repayment performance of the loan portfolio also remains good with one of the lowest shares of delinquent loans since ever.
• MONETA sold NPL portfolio in the nominal amount of CZK 584 million with a gain of CZK 221 million.
• During first quarter MONETA created additional management overlay in the amount of CZK 76 million. The total amount of the management overlay stood at CZK 923 million as at 31 March 2023 preparing extra cushion for possible worsening of the portfolio quality related to changes in economic environment.
• NPL ratio decreased to 1.3 per cent with total NPL portfolio at CZK 3.5 billion
• Overall coverage of the loan portfolio decreased from 2.1 per cent at the end of 1Q 2022 to 1.8 per cent.

CAPITAL BASE

3 Excluding products of MONETA Stavební Spořitelna (Building Savings Bank).

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MONETA Money Bank, a.s. | Vyskočilova 1442/1b, 140 28 Praha 4 - Michle | Company ID 25672720 | Registered by the Municipal Court in Prague, Section B, Insert 5403 | tel.: +420 224 443 636 | www.moneta.cz