Komercni Banka As

So, good afternoon ladies and gentlemen. Welcome from Pomerční banka and thank you for sharing your time with us today. It is the 6th of February 2026 and we are going to discuss the results of Pomerční banka group for the fourth quarter and for the full year 2025. Please note that this call is being recorded. Today, we have the entire board of directors together in one room, led by the chairman and CEO of Kuneční banka Jan Jochilka, and we also have Margot Simpson, Chief Digital Officer, Miroslav Hirschel, Head of Retail Banking, Katarína Kurucová, Head of Corporate and Investment Banking, Andrzej Kučkovský, Chief Risk Officer, Jitka Halvová, Chief Operations Officer, and with them, of course, Jan Rulejak, Chief Financial Officer. As always, we will begin with the presentation of results, which will be followed by questions and answer session. During the presentation part, all participants will be on listen-only mode. We would appreciate if you could keep your microphones muted during that time. Now let me ask the CEO, Jan Juchelka, to begin the presentation. Thank you.

Thank you, Jakub. Hello everyone, thank you for sharing your time with us. We very appreciate your attention you paid to ComEdSheet. It's my pleasure together with the top management team to lead you through the presentation of Q4 2025 results and the full year 2025 results. We can start with page number 4. Komeční in 2025 printed solid growth of financing of Czech economy. Across the board, all segments with the emphasis on housing loans. We grew by 6.8%. The fourth quarter contributed by 4.3%. On the side of deposits, we grew almost by 6%, which we didn't find optimal. This is why in fourth quarter, we opened the gate a little bit for gaining a bit more deposits from the market in order to build solid foundations for 2026 commercial and business growth. Assets under management outside the bank. grew by 5.5% for us. It's a combination of mutual funds made by Amundi, the private banking product, pension schemes and insurance products from Komeční Pojšťovna. Here we saw a little drop on the new sales and new origination for the investment products by Amundi. I will come back to it in a few minutes in detail. Balance sheet and capital remains very strong. We are sitting on 17.9% of capital. 17.1 is core tier 1. Loans to deposits in safe territory of 83.1%. And both short-term and long-term indicators of liquidity remain far above the requested 100%. LCR for 159. NSFR for 130%. Four years results. were translated into 18.1 billion SEK net profit. On a reported basis, it's 4.7% growth. If you take out the extraordinary income stemming from the sale of the headquarter building last year at Václavské Square in Prague, we are showing 22.3% on the overall basis growth. It represents 95.61 check rounds per share, and all this money will go back to shareholders as we are, as a board of directors, advising the shareholders meeting, which will take place in April this year. Cost-to-income ratio of KB remained at 46.1%, return on equity at 14.2%. Looking forward, we are guiding the markets for 2026 dividend guidance at 80%. The payout ratio, and we feel we are fulfilling our promise that after the extraordinary period of time, which took three consecutive years, we were giving back 100%. we will go lower, but we are still 15% above the traditional payout ratio, which used to be 65% before COVID. In the bank, there was one remarkable corporate governance-related event. We are welcoming Hervé de Cardrel as a new Supervisory Board member since 1st January 2026. Hervé is a is a lifelong banker, which is a retired SG banker, joining the team and enlarging the diversity of supervisory boards. In 2025, Commercini made an important step towards the new reality. We are closing our KB2025 transformation program, probably the largest transformation initiative in the Czech banking history for the last 20 years, where we delivered the fully rebuilt digital platform, from 21st century replacing the core banking, the accounting and payment systems and other relevant systems and launching new client proposition and new application for the front office in branches, for internet banking and for mobile banking. Thanks to that we are also able to learn new disciplines, how to acquire hundreds of thousands of new clients. In 2025, it was 135,000 new clients using our platform KB+. The total number of KB Group customers overshoot 2.2 million, so currently we are recording 2,268,000 clients whom we are servicing in the entire group. In 2025, we gained a couple of recognitions on the MasterCard Bank of the Year. We were named as the Bank of the Year Incorporated Banking and Bank Without Barriers. We can move to page number 5. Speaking about strategy, let me open this chapter with the statement that we have completely new fully digital platform working 24-7 with multi-currency account in place in which we are currently finding almost entire portfolio of our retail clients. So 2025 was a year of huge, of a finalization of huge maneuver of transferring clients from the old to the new system. And we are gaining also the expertise how to onboard, how to activate, and how to cross-sell the new clients. We will come back to it in detail through my colleague Miroslav Hershel in a second. We have created a competitive advantage with higher digital sales penetration. We are currently achieving 54-55% and heading to 60% of the total sales of our product in a digital way. Improving customer satisfaction. thanks to the very modern design of our new app and new interface in the internet banking and in the branches. The modern technology is done in the world where we have applied the Agile way of working for the software crafting and software coding, thanks to which we are able to come to the market much faster with new innovations. And we will show you the picture of what might be those in 2026. We were very strict on working on costs. The cost base was redefined. In 2025 we were super strict, even in the context of our NPI slightly lagging behind our original expectations. So we took the measures on the cost side. on the cost side immediately and we see that the new platform combined with much simpler, much faster processes and much simpler organization is bringing higher level of efficiency. We are keeping the bank strong on capital. We will obviously continue with that. Not only from the, let's say, strict supervision point of view, which is represented by Czech National Bank, but also by our strong conviction that the large and stable capital base is enabling us for the future to grow organically. We are a recognized ESG leader, combining MSCI ESG rating, S&P Global CSA score as well as FTSE for Goods is keeping us amongst top 5% of players of that kind. We continue financing also the energy transition in the country and other relevant programs. So we are editing the program as a simpler, more agile, more efficient bank, well-positioned to deliver the organic growth down the road starting 2026. Next page, please. At page number seven, I'm handing over to Markus Simpson, the Chief Digital Officer.

Good afternoon from my side. Just looking into the things that we delivered during this last five to six years of transformation, then I would probably point out three of the most important ones. The first one, the new digital bank is completely cleaned up, completely simplified compared to the setup that we had in the past. So taking a simple example, on the retail platform side, the retail customer side, we had 600 products before. In the legacy system, we have only a bit more than 30 in the new one. Effectively bringing down 20, not only speeding up the kind of way, how fast we can develop things, but it also brings down the operational cost, operational complexity. It is helping to bring up our time to market from 18 months that we had to bother before in the old system to bother to a couple of months in the new system. So the ability to innovate, the ability to deliver anything into the market has significantly changed thanks to that kind of complexity reduction that we have been doing. So simplification in every terms, the things that the customer sees, the things that are happening inside the bank is the biggest benefit of the transformation from that end. When looking at the functionality, then obviously the new technology brought different opportunities as well. Multi-currency account, the very similar setup what, for example, Revolut has. This has been enabled only by the new solution being up and running. The account customization, I believe, one of the very unique opportunities that the customers tend to love, and this one is that they can choose their own account numbers. This is something that seems trivial or seems like a little bit unnecessary development, but at the same time, we see that the customers like that when the services are really tailored rather towards their own needs and their own initiatives. When we are looking from the security perspective then, previously we had our authentication tools separately and our mobile applications separately. Now we have one which makes the usage for the customers significantly easier, but also makes sure that we do not have the complexity also from that side, building our customers and ourselves. And when we are looking at the security options that are sitting in KBplus, then just imagine So we think that needs to be there in order to make sure that the customer's money is safe and we do have it. And with that, I'm handing over to Miroslav Vyshul to focus on the questions of what has been really changing on the business side, what has been delivering the results.