Q1 Trading Update

Core Viewpoint - OSB Group PLC reported a stable performance in Q1 2025, focusing on returns over growth, resulting in a flat net loan book compared to the end of 2024 [4][7]. Financial Performance - Originations for Q1 2025 reached £1.1 billion, up from £1.0 billion in Q1 2024 [7]. - The net loan book stood at £25.2 billion as of March 31, 2025, slightly increasing from £25.1 billion at the end of 2024 [7]. - Retail deposits remained stable at £23.8 billion, unchanged from December 31, 2024 [7]. - The outstanding balance of the Term Funding Scheme for SMEs (TFSME) was £810 million as of March 31, 2025, down from £1.4 billion at the end of 2024 [7]. Operational Highlights - The transformation program progressed well, with new fixed-rate bonds available on the new savings platform [6]. - The company received recognition for its customer service and experience, winning the FS Tech award in March [6]. Future Guidance - The Group is on track to meet its 2025 guidance, which includes low single-digit net loan book growth and a net interest margin of approximately 225 basis points [8]. - Administrative expenses are projected to be around £270 million, with a return on tangible equity (RoTE) expected in the low teens [8].