PRESS-RELEASE

Oldenburg, 22 January 2025

OLB expects new record result

• Earnings before taxes rose to EUR 365 million according to preliminary figures
• Key figures for return and efficiency expected to be at a top level high

OLB expects a new record result for the 2024 financial year. Based on preliminary IFRS figures, OLB generated earnings before taxes of EUR 365.0 million (m) as of 31 December 2024 (previous year: EUR 335.4m). The main reasons for the preliminary increase were a good underlying business performance despite an economically challenging market environment and the rapid integration of Degussa Bank including the execution of cost synergies. OLB expects to report a return on equity after taxes of 17.2% (previous year: 15.8%) and a cost-income-ratio (CIR) of 46.2% (previous year: 40.8%). On a normalised basis, excluding all Degussa Bank acquisition-related one-off costs and benefits, the preliminary normalised RoE after taxes[1] stands at 16.3% with a preliminary normalised CIR[2] of 42.6%. The bank’s key figures for profitability and efficiency are thus once again expected to be at top benchmark level.

The main driver of preliminary operating revenues is the increase in net interest income to EUR 598.6m (previous year: EUR 509.4m). As anticipated, following the merger with Degussa Bank in August 2024, the cost development is expected to have improved significantly in the fourth quarter of the year. In total, operating expenses in the transformation year 2024 are expected to amount to EUR 342.6m (previous year: EUR 263.1m). Risk provisions of the combined bank are expected to amount to EUR 71.1m (previous year: EUR 41.0m) including a one-time initial IFRS 9 application effect related to the Degussa Bank acquisition of EUR 11.5m.

OLB will publish the final 2024 result on Friday, 21 February 2025, at its annual results press conference.

About OLB

OLB is a widely diversified universal bank with a nationwide presence and more than 150 years of experience in the core region of north-west Germany. Under the OLB and Bankhaus Neelmeyer brands, the Bank advises its approximately 1 million customers in the Private & Business Customers and Corporate & Diversified Lending segments in person and via digital channels. OLB has total assets of more than EUR 30 billion, making it a significant financial institution in Europe.

Feel free to visit us at www.olb.de and www.neelmeyer.de as well as on Facebook, Instagram and YouTube.

Disclaimer

This information does not contain any offer to acquire or subscribe for securities, nor should it be construed as an invitation to do so. The opinions expressed herein reflect our current assessment, which is subject to change even without prior notification.

The information contained in this presentation includes financial and similar information which is neither audited nor finally reviewed and should be considered preliminary and subject to change. Likewise, this document does not, either in whole or in part, constitute a sales prospectus or any other stock exchange prospectus. The information contained in this document therefore merely provides an overview and should not form the basis of an investor's potential decision to purchase or sell the securities.

This document has been prepared and published by Oldenburgische Landesbank AG, Oldenburg. The information has been carefully researched and is based on sources deemed to be reliable by Oldenburgische Landesbank AG. However, the information may no longer be up-to-date and may be obsolete by the time you receive this document. Furthermore, it cannot be ensured that the information is correct and complete. Oldenburgische Landesbank AG therefore assumes no liability for the contents of the information.

In addition, this document contains various forward-looking statements and information based on the management's beliefs and on assumptions and information currently available to the management of Oldenburgische Landesbank AG. Considering the known and unknown risks associated with the business of Oldenburgische Landesbank AG as well as uncertainties and other factors, the future results, performances and outcomes may differ from those deduced from such forward-looking or historical statements. The forward-looking statements speak only as of the date of this document. Oldenburgische Landesbank AG expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations with regard thereto or any changes in events, conditions or circumstances on which any forward-looking statements are based. Any persons receiving this document should not give undue influence to such historical statements and should not rely on such forward-looking statements.

This document also contains certain financial measures that are not recognized under IFRS or German GAAP (“HGB”). These alternative performance measures are presented because Oldenburgische Landesbank AG believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating its operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS, HGB or other generally accepted accounting principles.

^[1] Normalised return on equity based on average IFRS shareholders' equity deducted by accrued dividends and excluding EUR 14.8m net one-off effect related to Degussa Bank acquisition

^[2] Normalised CIR excluding regulatory charges and Degussa Bank acquisition-related one-of expenses of EUR 26.2m