Changes in the Management Board of Coop Pank AS and in the Supervisory Boards of its Subsidiaries

Company Leadership Changes - Arko Kurtmann has been appointed as the new Chairman of the Management Board of Coop Pank, effective from 8 September 2025, for a term of 3 years [1] - Lehar Kütt will take over as the new Head of Corporate Banking and a member of the Management Board, also starting on 8 September 2025, for a duration of 3 years [2] Strategic Goals and Challenges - The Chairman of the Supervisory Board, Rainer Rohtla, emphasized that Kurtmann will lead the bank's strategy for the next five years, aiming for ambitious goals in the Estonian banking market [4] - Kurtmann acknowledged a decline in profit for the second consecutive year, attributing it to external interest rate conditions, and expressed the need to increase revenues and cut costs to reverse this trend [5] Financial Performance and Share Value - Coop Pank's current share price is €1.9, which is below book value, despite the bank quadrupling its profit over the last five years while the share price only doubled [6] - The bank aims to double its profit to enhance its value, which is expected to positively impact the share price [6] Company Background - Coop Pank is one of the five universal banks in Estonia, serving 219,300 everyday banking clients and leveraging synergies between retail and banking [9] - The strategic owner of Coop Pank is Coop Eesti, a domestic retail chain with a network of 320 stores across Estonia [9]