Triodos Bank 2026 Half Year Results

Regulated Information

Solid impact performance

• New business loan origination of EUR 666 million (HY25: EUR 570 million) contributing to our five transition themes.
• New production of residential mortgages of EUR 479 million (HY25: EUR 333 million). 63% of the total mortgage portfolio has an energy label A or higher.
• First place rankings in both the Dutch Eerlijke Bankwijzer and the Belgian BankWijzer.

Improved financial performance and robust capital position

• Net profit of EUR 29.9 million (HY25: EUR 17.0 million) and an annualised return on equity of 5.0% (HY25: 2.7%).
• Total income increased by 4% to EUR 228.4 million (HY25: EUR 219.6 million), primarily driven by higher net interest income and an improved net interest margin of 1.98% (HY25: 1.92%).
• Operating expenses declined by 3% to EUR 182.1 million (HY25: EUR 188.5 million), mainly driven by the absence of DR settlement related expenses.
• The cost-income ratio improved to 80% (HY25: 86%).
• Strong capital position with a CET1 ratio of 17.3% (FY25: 17.4%), enabling an interim dividend of EUR 1.05 per Depository Receipt.

Transformation and strategic execution well underway

• The Fit for Impact transformation programme is on schedule, with a new operating model implemented in the first half of 2026.
• The wind-down of the German banking activities is progressing according to plan and the total German fibre-optic loan portfolio was sold.
• The core banking system migration in Spain entered the execution phase.

Statement from Marcel Zuidam, CEO Triodos Bank:

Strengthening our foundations

In the first half of 2026, we made good progress in the execution of our strategy. Our financial performance has improved, the organisation has become more focused, and we have taken steps to increase efficiency. All with the goal to make meaningful, positive impact.

Driving impact where it matters most

An important part of this performance is strengthening our position as a frontrunner in impact finance. In the first half of 2026, we continued to finance businesses, organisations and projects contributing to the energy, food, resources, societal and wellbeing transitions. New business lending amounted to EUR 666 million, with our total business loan portfolio at EUR 5.8 billion. New residential mortgage production was EUR 479 million. Of our total mortgage portfolio, 63% is rated energy label A or higher.

Our renewed energy vision, published in April, guides our financing of the energy transition and explains how we use our role as a thought leader to encourage others to accelerate positive change.

When making decisions on the financing of the five transition themes, we find it important to listen to outside perspectives. The positive response to the launch of the Triodos Bank Impact Collective (TBIC), a structured way for stakeholders to share their views with us on these transitions, confirms the commitment of our community to work together with us on today’s challenges.

Our efforts to be a frontrunner in impact finance were recognised externally in the first half of 2026. Triodos Bank was ranked first in the Eerlijke Bankwijzer in the Netherlands with an average policy score of 9.4. In Belgium we ranked first in the BankWijzer, with a percentage score of 95.

Financial performance

Delivering on impact requires solid financial performance. Our financial results improved in the first half of 2026, returning the bank to profitability. We reported a net profit of EUR 29.9 million and an annualised return on equity of 5.0% in the first half of 2026. Total income increased to EUR 228.4 million, mainly driven by improved margins. The loan book remained broadly stable as growth in mortgages offset lower business lending, which was largely due to the sale of the German fibre-optic portfolio. The underlying quality of the loan book remained sound. Funds entrusted decreased slightly to EUR 15.0 billion, mainly as a result of the continued wind-down of our activities in Germany. Excluding this effect, funds entrusted would have grown modestly.

Operating expenses declined by EUR 6.4 million to EUR 182.1 million in the first half of 2026, mainly reflecting the non-recurrence of the addition to the provision related to the settlement offer to eligible DR Holders in the first half of 2025. When excluding all changes in non-credit provisions, operating expenses increased modestly, driven by regular salary developments and the planned temporary use of external co-workers to strengthen KYC activities.

These developments contributed to an improvement of the cost-income ratio to 80% compared with 86% in HY25 (influenced by one-off provisions). The return on equity ratio increased to 5.0%, compared to 2.7% in HY25 (influenced by one-off provisions). Net interest margin of 1.98% improved compared to HY25 (1.92%), supported by lower funding costs, disciplined margin management and a stable funding base.

We reduced our risk profile by selling our German fibre-optic loan portfolio. As a result, the cost of risk decreased significantly to 10 bps in the first half of 2026, compared to the elevated level of 62 bps in 2025.

Our financial foundations remain robust. At the end of June 2026, our CET1 ratio stood at 17.3% and our Total Capital Ratio was 21.0%, above regulatory requirements. This strong capital position, combined with our improved performance, is enabling us to pay out an interim dividend of EUR 1.05 per Depository Receipt.

The first benefits of our previously announced Fit for Impact programme efficiency measures are expected to become visible in the second half of 2026, as we continue to execute structural and organisational changes needed to deliver sustainable cost reductions. Fit for Impact aims to make our operating model more efficient and customer focused, strengthening cost discipline and investing in digitalisation and use of AI.

We continue to expect Triodos Bank to deliver income growth in 2026 and to reduce operating expenses. Through Fit for Impact, we aim to reach the lower end of our mid-term 70–75% cost-to-income ratio target and the higher end of our mid-term 5–7% return-on-equity target by the end of 2028, supported by the previously announced EUR 25–30 million in annual cost savings.

Focusing our efforts

Becoming more efficient is also about making choices on the markets we serve, the products we offer and where we can add the most value together with our customers.

That is why we continued to improve our customer propositions and journeys in the first half of 2026, strengthening commercial execution and customer relevance. A good example is the Triodos Payment Request introduced in the Netherlands, an easy way to split and share costs directly from the app.

Making strategic choices also guides the wind-down of our banking activities in Germany, which remains on schedule. We are now focused on careful execution and clear engagement with our customers. Through our cooperation with Umweltbank we are offering an alternative to customers who want to continue banking in a sustainable way.

To become future-ready, we are modernising our technology and data landscape, including implementing the core banking system migration in Spain and increasing the responsible use of AI. We redesigned our operating model around end-to-end customer journeys with multidisciplinary teams and this is now fully operational.

Triodos Bank is moving in the right direction: becoming financially and operationally better positioned to further increase our impact. At the same time, we must continue to build on the progress made in the first half of the year and translate it into lasting results.

I would like to thank our customers, co-workers, investors and other stakeholders for their continued trust and commitment as we continue this journey together.

Marcel Zuidam

2026 Half Year Report

Triodos Bank’s 2026 Half Year Report was published today and is available on our website: www.triodos.com/reporting

Use of alternative performance measures

Our results are reported in accordance with IFRS accounting standards as detailed in our Annual Report. In the discussion of our business performance in the Half Year Report 2026 we use several alternative performance measures. Triodos Bank is of the opinion that such financial measures are commonly used by investors and as such are useful for disclosure. Further details regarding our use of alternative performance measures are available as an appendix to our Half Year Report that can be downloaded on our website at www.triodos.com/en/investor-relations/financial-reports

Financial calendar

Audio webcast details

Management will host an audio webcast for investors and analysts on 13 August 2026 at 11:00 CEST. https://triodosbank.engagestream.euronext.com/2026-08-13-hy2026

A full replay of the presentation will be available at the same link after the presentation.

Important Information and Disclaimer

Triodos Bank N.V.’s (interim) condensed consolidated financial information is prepared in accordance with International Financial Reporting Standards as adopted by the European Union. In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2025 Triodos Bank N.V. Annual Report. Small differences are possible in the tables due to rounding.

The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement. All figures in this document are unaudited.

This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.

This document may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Some of these forward-looking statements are characterised by the use of words such as (but not limited to): 'expect', 'anticipate', 'estimate', 'may', 'should', 'would', 'believe', 'intend', 'plan', 'contemplate', 'aim', 'could', 'will', 'potential', 'think', 'seek', as well as similar expressions, the future tense and the conditional. The forward-looking statements included in this document with respect to the business, results of operation and financial condition of Triodos Bank N.V. are subject to a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including but not limited to the following: changes in economic and political conditions, actions taken and policies applied by governments and their agencies, changes in credit spreads or interest rates, the results of our strategy and investment policies and objectives. Triodos Bank N.V. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this document.