#1Going our own way Bank of Åland Investor Presentation August 2021 ÀLANDSBANKEN#2Table of Contents 2 1. Bank of Åland in Brief 2. Strategy and Market Position 3. Sustainability 3 7 12 4. Performance and Capital 15 5. Asset Quality 6. Liquidity and Funding 7. Contact Details 8. Appendix 21 23 26 28 ÀLANDSBANKEN#31. Bank of Åland in Brief ALANDS KEN#4Bank of Åland in Brief 4 Bank of Åland Plc • • • Established in 1919 on the Åland Islands, listed since 1942 on NASDAQ OMX Helsinki A Finnish bank targeting high net worth and affluent individuals Operations on the Åland Islands, Finnish mainland and Sweden Top-ranked in customer loyalty A long-standing tradition of stability and very low credit losses BBB rating with a positive outlook from S&P • . Create value for ambitious individuals and companies that appreciate relations: Private Banking since 1982 The Vision • IT services by Crosskey Banking Solutions since 2004 Premium Banking since 2004 Partnership Banking since 2016 Delivering a large bank's range of services with a small bank's thoughtfulness and good sense Bank's customer surveys show that also during the Covid-19 pandemic customers continue to appreciate Bank's expertise, personalized service, high ethical standards and sustainability work • Covered Bonds • • • • The Bank of Åland has been active in the covered bond market in SEK and EUR since 2012 Two Cover Pools: Cover Pool SWE consists of 100 % Prime Swedish residential mortgages and Cover Pool FIN consists of 100% Finnish and the Åland Islands' residential mortgages Clear concentration to the growth centres and the wealthiest parts of Sweden and Finland Published commitment to a strong over-collateralization and six months liquidity AAA (stable) rating from S&P on both Cover Pool SWE and Cover Pool FIN ÀLANDSBANKEN#5Scorecard June 30, 2021 CET1 capital ratio 13.4 % • Capital Strong capital position Standardised approach used in Sweden Dividends for 2019 and 2020 EUR 31.2 M approved and distributed under H1 2021, subtracted from the Bank's CET1 capital ratio on December 31, 2020 5 • Liquidity and Funding Loan/ deposit ratio of 119 % Liquidity reserve at 19 % of total assets • LCR at 152 % NSFR at 110 % BBB bank rating with positive outlook AAA Rating with Stable Outlook on Covered Bonds Loan loss level 0.05 % • • · Risk Management Long history of having the lowest loan loss level of all Finnish banks. Loan loss level at 0.05 % in Q2 2021 (0.08 % in Q2 2020). EUR 2.0 M Covid-19 provision during 2020 No trading positions or complex financial instruments Strict limits on exposures to financial institutions. Bulk of the exposure is to highly rated Nordic entities Profitability Positive earnings trend Challenging interest rate environment Net operating profit of EUR 13.6 M in Q2 2021 (EUR 9.8 M in Q2 2020) ROE 16.4% in Q2 2021 (11.8 % in Q2 2020) ROE 16.4 % ÀLANDSBANKEN#6Standard & Poor's Rating on Bank of Åland Finnish banks Business position A- -2 - Despite some geographic diversification, concentrated business focus on retail and Private Banking makes it vulnerable to cyclical swings in the segments +1 - Strong capital position Capital and earnings - Strong earnings Risk position -1 - Small customer base with concentration risks - Moderate geographic diversity Liquidity and funding 0 S&P, December 15, 2020: "We expect the joint venture will further diversify Bank of Åland's revenue base and give growth opportunities in Sweden" S&P, January 22, 2021 and July 15, 2021: "We could raise the rating if Bank of Åland's capitalization improves, as indicated by a sustained increase of its RAC ratio beyond 15% over the next 24 months, after the establishment of the joint mortgage platform" - Stable core deposit base The Bank of Åland standalone rating Cover Pool FIN, Cover Pool SWE - Very low credit losses and stable loan base - Commitment to strong over-collateralization - Commitment to six months liquidity buffer The Bank of Åland Covered Bonds rating 6 BBB positive +9 AAA stable S&P, July 15, 2021: "Bank of Åland's RAC ratio may exceed our 15 % threshold for a very strong capital and earnings assessment once the Swedish mortgage loan book is carved out" "Bank of Åland has delivered solid results over the past several years and, in addition to issuing capital instruments, has succeeded in building its capital base through earnings retention" "Once the Borgo platform is finalized and we have full data transparency, we will analyze whether the RAC ratio can sustainably exceed 15%" ÀLANDSBANKEN#77 2 Strategy and Market Position ÅLANDSBANKEN#8Three Markets - Two Strategies The Åland Islands 8 Finland • 2 offices, market share > 50 % • • Full product range offered The Bank for everyone • • Sweden • 6 offices in affluent parts of Finland, market share > 1% Full product range offered but "bread and butter” services only as complement to Private Banking and Premium Banking services offering Targeted segment: High Net Worth/ Affluent Individuals and their companies . 3 offices in Sweden's largest cities, market share < 1% • Full product range offered but “bread and butter" services only as complement to Private Banking and Premium Banking services offering Targeted segment: High Net Worth/ Affluent Individuals and their companies Vaasa Oulu Tampere Turku Parainen Helsinki Aland Islands Stockholm Gothenburg Malmö ÀLANDSBANKEN#9Bank of Åland History of Strategic Decisions 9 From a local bank... Supporting development of the Åland Islands a poor fishing and agrarian 2019 2016 community 2009 2004 1994 1942 Expansion to Fintech Dreams New Swedish IT company Sweden Crosskey 1919 Extended partnerships mortgage bank with partners Expansion to Finnish Ab Ltd Listing mainland Foundation ...to a Nordic banking group With wide product range and personal service targeting High Net Worth Individuals ÀLANDSBANKEN#10Digitalization in Focus: Strategic Fintech Partners Dreams MENU E DO About us Press FAQ English ▼ 10 The new way to save Reach your dream with money you didn't know you had GET IT ON Download on the Google Play App Store Trustly CONSUMER MERCHANT PARTNERS ABOUT US PRESS BLOG CAREERS Buy an apartment 4 years and 250 000 kr left A banking service for everyday climate action Use a free revolutionary mobile banking service to reduce your carbon emissions day by day. Positive returns for both you and the planet. 55 089 kr SAVE USER SUPPORT Shop and pay from your bank account Fast, simple and secure WATCHES Early sign-up! Compensate OCTOBER Supermarket -0.0 Pharma harmacy Florist taz -PM 8 AGANG DOO Invest 123 € 6.90 t Your total C Everyday Climate Action DCO Nathalie Green Doconomy mambo 00000222 Åland Index Solutions Share ÀLANDSBANKEN#11Bank of Åland Group Legal and Ownership Structures 11 Ålandsbanken Abp (Bank of Åland Plc) Major owners as of June 30, 2021 Share of capital Share of votes Wiklöf Anders with companies 21.3 % 29.7 % Alandia Insurance 6.8% 11.1 % The Family Kamprad Foundation 6.0% 0.7 % Fennogens Investment S.A. (Family Ehrnrooth) 4.7 % 8.3 % Pensionsförsäkringsaktiebolaget Veritas Approximately 10,500 shareholders in total, half of them from the Åland Islands 2.5% 2.0% Crosskey Banking Solutions Abp Ltd 100 % S-Crosskey Ab 60% Model IT Oy 100 % Ålandsbanken Fondbolag Ab 100% Ålandsbanken Fonder Ab, 100 % Ålandsbanken Fonder II Ab, 100 % Ålandsbanken Fonder III Ab, 100 % ÀLANDSBANKEN#1212 3. Sustainability LANDSBANK#13Bank of Åland "World Champion" in Sustainability Y eurobest the european awards for creative excellence CANNES LIONS INTERNATIONAL FESTIVAL OF CREATIVITY D&AD Impact D&AD Impact D&AD Impact D&AD Impact D&AD 13 ÖSTERSJÖPROJEKTET ITÄMERIPROJEKTI BALTICSEAPROJECT.ORG GULDNYCKELN ARETS INSATS 2017 I SUPPORT A CLEAN BALTIC SEA ORROW TOM SUSTAINABLE BRAND INDEX ENGLISH MEMBER 543211 0 GULDAGGET SVERIGES KOMMUNIKATIONSBYRÅER 2017 FEMTIOSJÄTTE UPPLAGAN SVANENMARKE Fond 3101 0027 ÀLANDSBANKEN#14THE UN SDGS AND OUR SUSTAINABILITY WORK 1 POVERTY 2 7 RENEWABLE ENERITY 8 JOBS AND ECONOMIC GROWTH 13 CLIMATE ACTION 14 LIFE BELOW WATER GOOD HEALTH QUALITY EDUCATION 5 QUALITY GENDER CLEAN WATER CREDIT/DEBIT W 9 INNOVATION AND INFRASTRUCTURE 10 REDUCED INEQUALITIES SUSTAINABLE CITIES 1112 RESPONSIBLE CONSUMPTION 15 ON LAND 16 PEACE AND JUSTICE 17 PARTNERSHIPS FOR THE GOALS I SUPPORT A CLEAN BALTIC SEA ORROW TOM OSTERSJUPROJEKTET ITAMERIPROJEKTI BALTICSEAPROJECT.ORG MEMBER 543211 THE GLOBAL GOALS For Sustainable Development Our sustainability work is based upon the UN's 17 sustainability development goals, including its 169 sub-targets. 356,000,000 customers globally are able to track the CO2 footprint of their purchases through Åland Index Solutions. 14 UNEP PRINCIPLES FOR FINANCE RESPONSIBLE INITIATIVE BANKING PRI Principles for Responsible Investment We have signed the UN Principles for Responsible Banking and the Principles for Responsible Investment. Quantity of carbon dioxide emissions caused by travel CO₂ in kg 225,000 200,000 175,000 150,000 125,000 100,000 75,000 50,000 ÅLAND INDEX 25,000 2018 2019 2020 ÖSTERSJÖPROJEKTET BALTICSEAPROJECT ITÄMERIPROJEKTI € 3,300,000 funding good ideas for the environment since 1997. Train Aircraft Ship Our total target Due to the coronavirus pandemic, business travel virtually halted during the second quarter. This, in turn, was reflected by total carbon dioxide emissions, which decreased significantly in 2020. Emissions from all business travel fell from 124,548 kg to 33,688 kg, a 73 per cent decline. ÀLANDSBANKEN#1515 4. Performance and Capital ALANDSBANKEN#16Long-Term Financial Targets* 16 Profitability ROE shall exceed 10 % As a Bank for investors, with financing know-how, the Bank of Åland has a business model that shall generate most earnings from operations with limited capital requirements. The Bank of Åland's earnings will benefit from higher interest rates The Bank's capital adequacy, primarily defined as CET1 capital ratio under the Basel regulations, shall clearly exceed all regulatory Capitalization requirements Payout ratio The payout ratio shall amount to 50% This payout ratio target is subject to the condition that the capital adequacy target continues to be achieved During 2021 the Bank of Åland will review its long-term financial targets ÀLANDSBANKEN#17H1 2021 in Summary +40 % 8,541 Volumes, EUR M . • • New record level of actively managed assets, lending and deposits A new office opened in Oulu on the Finnish mainland Dividends for 2019 and 2020 EUR 31.2 M (15.6 + 15.6) approved and distributed In March 2021, for the first time the Bank of Åland issued additional Tier 1 (AT1) capital instruments, totalling SEK 300 M In March 2021 the Swedish Financial Supervisory Authority granted Borgo, the new jointly owned mortgage company, a permit as a credit market company and an issuer of covered bonds. Sparbanken Syd wants to join as a fifth partner Working hours re-calculated to full-time equivalent positions increased by 81 FTE Q2 2021 vs. Q2 2020 6,107 +8% +10 % 3,801 4,188 4,518 3,459 Actively managed assets ■2020 Deposits ■2021 +14 % 84.6 74.2 Net operating profit, EUR M Lending +46 % 24.4 16.7 +13 % -88 % Income Expenses -4.6 -0.6 Loan losses Net operating profit -53.0 -59.7 ■2020 ■2021 17 ÀLANDSBANKEN#18ROE %, 2019-2021 • ROE H1, 14.4 % (10.1 %) Q1 2019 Q2 2019 Q3 2019 Q4 2019 18 Q1 2020 Q2 2020 18.0 16.0 14.0 13.6 12.3 11.5 12.0 11.4 11.8 12.3 12.5 10.0 8.4 8.0 7.6 6.0 4.0 2.0 0.0 . • Earnings per share H1, EUR 1.27 (0.85), +50% 16.4 14.0 13.0 "Best Q2 2021 and H1 2021 results ever" • Net operating profit Q2, EUR 13.6 M (9.8 M), +39 % • ROE Q2, 16.4 % (11.8%) • Net operating profit H1, EUR 24.4 M (16.7 M), +46 % ROE, Rolling 12 Months, % Q3 2020 Q4 2020 Q1 2021 Q2 2021 Stability fee: EUR 2.3 M (Q1 2019), EUR -0.5 M (Q2 2019), EUR 2.0 M (Q1 2020), EUR 0.6 M (Q2 2020), EUR 2.8 M (Q1 2021) and EUR -0.1 M (Q2 2021) Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 12.6 12.0 11:6 11.0 10.7 10.9.1.1:0 11.0 10.5 9.9 10.0 10.0 ............... 9.0 8.0 Q3 2020 Q4 2020 Q1 2021 Q2 2021 13.7 50.0 Net Operating Profit, Rolling 12 Months, EUR M 45.0 47.4 40.0 43.7 35.0 30.0 29.6 29.9 31.8 33.2 34.3 35.4 36.5 39.7....... 25.0 20.0 15.0 10.0 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 ÀLANDSBANKEN#19Higher Income and Expenses • Total income rose by 14% to EUR 84.6 M. Higher net commission income was the main reason • Total expenses increased by 13 % to EUR 59.7 M. Higher staff costs and IT expenses were the main reasons Higher Income EUR M Higher Expenses EUR M 19 74.2 1.2 2020 Net interest income 2.7 1.1 1.7 5.9 84.6 53.0 5.3 -0.2 0.3 0.3 1.1 2.9 59.7 Net commission Net income from income financial items at fair value IT income Other income 2021 2020 Staff IT Stability fee Travel and Depreciation/ Others representation amortisation 2021 ÀLANDSBANKEN#20Commitment to a Strong Capital Ratio • • The Bank of Åland is committed to a strong capital ratio • . . • The Bank will continue to build up its capital base, improve and diversify earnings, and uphold a sound approach to risk In March 2021, for the first time the Bank of Åland issued additional Tier 1 (AT1) capital instruments, totalling SEK 300 M Conservative pay-out policy is to safeguard the capital position Dividends for 2019 and 2020 EUR 31.2 M approved and distributed under H1 2021, subtracted from the Bank's CET1 capital ratio on December 31, 2020 CET1 capital ratio for a small bank like the Bank of Åland is not comparable to larger banks with IRB methods. Standard & Poor's rating method considers the Bank of Åland to have strong risk-adjusted capitalization According to S&P the capital position of the Bank of Aland is strong • • • Strong risk-adjusted capitalization Low credit losses RAC ratio 13.9 % (December 31, 2020) remains a rating strength to the Bank of Åland S&P (January 22, 2021 and again July 15, 2021) has indicated that they could raise the rating if the Bank of Åland's capitalization improves, as indicated by a sustained increase of its RAC ratio beyond 15 % threshold for a very strong capital and earnings over the next 24 months Nordic Banks RAC Ratio On June 30, 2020, Compared With Dec. 31, 2019 30.00 18.0 16.5 16.6 15.8 25.00 16.0 15.4 14.2 2.2 1.5 14.0 2.4 2.4 20.00 1.7 1.3 12.0 15.00 10.0 10.00 8.0 6.0 12.9 13.0 13.4 14.3 13.4 5.00 4.0 0.00 2.0 0.0 2017 2018 2019 2020 2021 ■CET1 AT1 T2 20 3 Bonum bank Islandsbanki Sparbanken Skane Landshypotek Bank Hypo ** Landsbankinn Eiendomskreditt Storebrand Bank Arion Bank Danmarks Skibskredit Swedish Export Credit SBG Finland* Bank Norwegian Sparbanken Sjuharad DNB Bank Swedbank Jyske Bank Nordea Bank SBAB Bank Aktia Bank Danske Bank Handelsbanken SEB forsakate Al Bar DLR Kredit S-Bank. Oma Savings Bank Year-end 2019 Change from year-end 2019 (right-scale) ALANDSBANKEN Data as of June 2020. *Savings Group Finland. ** The Mortgage Society Finland. Source: S&P Global Ratings. RAC-Risk adjusted capital. Mid-year 2020#2121 5. Asset Quality ALANDSBANKEN#22Lending Strategy - Balanced Credit Growth The Bank of Åland is a relationship Bank with primary focus on customers with investment needs in the Private Banking and Premium Banking segments ➤ Selective lending to high quality, affluent clients, where asset quality prioritised over lending volume growth and higher returns The Bank of Åland is not granting credits as a standalone product to mass market clients or corporate clients Balanced growth in lending versus deposits in every business area 22 Residential mortgages or property as collateral in at least half of the lending Many small loans are preferred to few large Loan loss level 0.05 % in Q2 2021 and 0.08 % in Q2 2020* M EUR 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 Total Lending 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 Public and non-profit sector ■Companies ■Private individuals EUR M 60 50 40 30 520° Stage 3 Credits 2018-2021 0.93 0.85 0.81 % 0.81 1.30 0.89 0.92 1.4 1.2 1.01 تانس 0.69 0.57 0.46 0.49 20 10 Q1 2018 Q2 2018 M EUR 1400 1200 1000 800 600 400 200 0 Q3 2018 0.51 0.52 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 1.0 0.8 0.6 0.4 0.2 0.0 Stage 3 credits, EUR M Share of Stage 3 credits of total lending, % Lending to the Companies 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 Other industry and crafts Construction Agriculture, forestry and fishing Other service operations ■ Hotel and restaurant operations ■Financial and insurance operations ■Other real estate operations ■Housing operations ■Wholesale and retail trade ■Shipping * Model-driven impairment losses on financial assets increased because of the expected effects of the Covid-19 pandemic. During the first quarter of 2020, the Bank made a group provision of EUR 2.0 M related to heightened risk of losses in the corporate loan portfolio. So far it has not been necessary to utilize these provisions ÀLANDSBANKEN#2323 6. Liquidity and Funding ALANDS KEN#24Group Funding and Liquidity Management 24 • Demand deposits and time deposits from core private customers and their companies are the main funding sources Covered Bonds, the main long-term funding tool, were introduced in early 2012 in order to diversify funding sources and to form a reliable and cost efficient funding channel Loans from central banks have grown during the time of Covid-19: 2% A balanced funding mix is maintained with diversity of funding sources Well-diversified maturity profile with limited exposure to short term wholesale funding 400 350 300 250 M EUR 200 ≥ 150 100 50 Maturing Long Funding* June 30, 2021 Group Funding Profile June 30, 2021 10% 4 % 0 %. 3% 5% Deposits Covered Bonds Senior unsecured Central banks →> 10 % 15 % Themes 2021 • • 2021 2022 Covered bonds 2023 2024 ■Senior unsecured Excluding retained Covered Bonds 63 % Short term banks Subordinated Own capital Share of customer deposits will stay high on around 60 % of funding • During the Covid-19 it has been a reasonable strategy to issue retained Covered Bonds and use those as collateral for funding from the central banks • Demand conditions and the market situation favour issuance in Covered Bonds • The balanced funding mix is maintained The Bank of Åland will receive an MREL requirement from the beginning of 2022. The requirement will consist of a minimum of 9 % total capital requirement and a minimum of 3 % leverage ratio. The MREL requirements have no material effect on the funding of the Bank ALANDSBANKEN#25Liquidity Reserve 25 • • Very high quality in liquidity reserves • The most liquid and tradable assets LCR and NSFR targets reached Key metrics Liquidity reserve Composition of the Liquidity Reserve June 30, 2021 19 % Coordinated cash pools between Finland and Sweden of total assets 3% ■Cash and central banks Conservative approach to market risk within liquidity reserves Assets with short duration Liquidity portfolio 26% EUR 1,166 M ■ Governments and official institutions . Well diversified counterparty risk profile 0-% ■Financial institutions LCR 64 % 7% 152 % ■ Covered bonds NSFR 110 % ■ Deposits ÀLANDSBANKEN#2626 7. Contact Details ALANDSBANKEN#27Contact Details Peter Wiklöf, CEO [email protected] +358 40 512 7505 Jan-Gunnar Eurell, CFO [email protected] +46 70 589 1209 Maria Rissanen, Head of Group Treasury [email protected] +358 50 538 8898 27 ÀLANDSBANKEN#2828 8. Appendix LANDSBANK#29Key Figures 29 H1 2021 H1 2020 2020 2019 2018 2017 2016 ROE, % 14.4 10.1 11.6 10.7 9.8 9.1 9.1 71 71 70 73 77 78 Expense/ income ratio, % 76 Loan loss level, % 0.03 0.22 0.11 0.08 0.02 0.06 0.11 CET1 capital ratio, % 13.4 14.5 14.3 13.4 13.0 12.9 11.8 Total capital ratio, % 16.6 16.7 16.5 15.8 15.4 14.2 13.0 Earnings per share, EUR 1.27 0.85 2.02 1.69 1.48 1.35 1.29 18.09 17.41 18.76 16.61 15.67 15.14 14.50 Equity capital per share, EUR 4,518 4,188 4,378 4,110 4,022 3,979 3,808 Lending to the public, EUR M 3,801 3,459 3,605 3,368 3,304 3,148 3,028 Deposits from public, EUR M 311 271 292 258 242 234 222 Equity capital, EUR M Risk exposure amount, EUR M 1,812 1,661 1,671 1,583 1,578 1,538 1,576 FTE 825 744 751 700 691 691 683 ÀLANDSBANKEN#30Income Statement 30 EUR M Net interest income H1 2021 H1 2020 2020 2019 2018 2017 2016 30.5 29.3 58.9 53.9 54.5 55.9 55.1 Net commission income 38.5 32.6 66.3 58.0 54.3 52.9 48.0 Other income Total income Staff costs 15.6 12.3 24.9 22.0 18.8 19.2 17.3 84.6 74.2 150.1 133.9 127.6 128.0 120.4 -36.0 -30.7 -62.9 -57.0 -57.1 -59.8 -57.0 Other expenses -23.7 -22.3 -42.7 -40.5 -40.7 -40.0 -34.3 Total expenses -59.7 -53.0 -105.6 -97.5 -97.8 -99.8 -91.3 Profit before impairment losses 25.0 21.3 44.6 36.4 29.8 28.2 29.2 Net impairment loss on financial assets -0.6 -4.6 -4.9 -3.2 -0.8 -2.1 -4.1 Net operating profit 24.4 16.7 39.7 33.2 29.0 26.0 25.1 Income taxes -4.5 -3.5 -8.2 -6.9 -6.1 -5.3 -5.4 Net profit for the period 19.8 13.2 31.5 26.3 22.9 20.7 19.7 Non-controlling interests 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Shareholders in Bank of Åland Plc 19.8 13.2 31.5 26.3 22.9 20.7 19.7 ÀLANDSBANKEN#31Outstanding Long-Term Funding* June 30, 2021 31 Cover Pool FIN ISIN Nominal Amt XS0876678391 90 000 000 XS1496878742 250 000 000 FI4000375241 300 000 000 Settlement date 30-01-2013 29-09-2016 19-03-2019 Maturity date 30-01-2023 Coupon 2.75 Currency EUR EUR eq amt Time to maturity 90 000 000 1.59 29-09-2023 0 EUR 250 000 000 2.25 19-03-2024 0.125 EUR 300 000 000 2.72 640 000 000 2.38 Cover Pool SWE ISIN SE0010598474 Nominal Amt 2 500 000 000 Settlement date 22-11-2017 Maturity date 22-11-2022 Coupon QUARTLY STIB + 53.0 Currency SEK EUR eq amt 247 225 464 247 225 464 Time to maturity 1.40 1.40 Senior Unsecured ISIN FI4000348966 Nominal Amt 250 000 000 Settlement date 13-09-2018 Maturity date 13-09-2021 Coupon 0.5 Currency EUR EUR eq amt 250 000 000 250 000 000 Time to maturity 0.21 0.21 Excluding retained Covered Bonds ÀLANDSBANKEN#32Disclaimer • • The presentation was prepared by Bank of Åland Plc for use in investor relations. This presentation is not intended for retail customers This presentation has been prepared on the basis of publicly available information which the Bank of Åland considers to be reliable This presentation may contain forward-looking statements, which are subject to risks, uncertainties, and assumptions. This presentation is being presented solely for your information and is subject to change without notice. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, actuality, fairness, or completeness of the information presented This presentation does not constitute an offer or invitation to purchase or subscribe for any shares or debt instruments of the Company, and no part of this presentation shall form the basis of or be relied upon in connection with any contract or commitment The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose 32 ÀLANDSBANKEN