Investor Presentaiton

Standard & 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

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