Securing our position as a leading impact bank in 2025

• EUR 1.1 billion in business loan origination across our five transition themes, bringing our total business lending portfolio to EUR 6.1 billion in 2025.
• New production of residential mortgages of EUR 763 million, increasing our total mortgage portfolio to 5.6 billion predominantly in the Netherlands.
• EUR 597 million growth in customer deposits to EUR 15.1 billion at year end, driven by a EUR 452 million increase in personal banking customers.
• We met our 2030 emissions target in 2025, reaching a 42% reduction in greenhouse gas emissions compared to our 2020 baseline year.
• Underlying financial performance stable, net result impacted by one-off provisions
• EUR -25.0 million net result materially impacted by a EUR 59.7 million provision related to exposures to the German fibre optic market and EUR 27.7 million in other provisions relating to long-term strategic decisions to provide a strong basis for sustainable financial performance.
• Our underlying business remained stable, with the net interest margin holding at 1.92% throughout the year.
• Our strong capital position improved under CRR III, our CET1 Ratio at the end of December 2025 came to 17.4% (2024: 16.4%), comfortably above our own targets (>15.0%) and regulatory requirements.
• Return on equity (RoE) decreased to -2.0% (2024: -0.2%), our cost to income ratio (CIR) improved to 85% (2024: 97%), both ratios were impacted by the aforementioned provisions.
• Triodos Bank proposes to not pay a final dividend over 2025. The total dividend is therefore equal to the interim dividend of EUR 0.60 per Depository Receipt (DR).

Important long-term strategic decisions to strengthen Triodos Bank structurally in 2026 and beyond

• Launched Fit for Impact, a programme developed to simplify our organisation, strengthen customer focus and enhance business agility, targeting a focused reduction of 250–270 FTEs net over the next three years, with an estimated corresponding annual cost reduction of EUR 25 to 30 million by the end of 2028.
• Significant progress was made in our efforts to build a more efficient and resilient organisation, including the wind-down of our German business.
• Our DR litigation risk significantly lowered after the settlement offer closed on the 1 October 2025, with 82.4% of eligible DRs, representing 11.7 million DRs having accepted the settlement offer. Additionally, court rulings received throughout the year significantly reduced the likelihood of future claims and lower the administrative and resource burden on the organisation.

Statement from Marcel Zuidam, CEO Triodos Bank:

“Against the backdrop of significant external challenges, our 2025 performance reflects both the power of our underlying business and the impact of several difficult but necessary decisions. Our net result was affected by provisions on part of our loan portfolio and other provisions to support the strategic programmes to provide a strong basis for sustainable financial performance over time. Still, the fundamentals of our business remain strong and provide a robust foundation for future growth and impact.

In 2025, we continued to finance the energy, food, resource, societal and wellbeing transitions. We enabled and accelerated these transitions through over EUR 1.1 billion in new business loans, leading to a total loan and investment volume of EUR 10.4 billion. In addition, our new residential mortgage production equalled EUR 763 million, raising the portfolio to EUR 5.6 billion, mainly in the Netherlands, with 63% rated energy label A or above.

Our financed emissions continued to decline, achieving a 20% reduction in 2025. We have met our absolute emission target for 2030, at least a 42% CO2e reduction compared to 2020, earlier than anticipated. This confirms we are moving in the right direction, and in 2026, we will evaluate our targets as planned.

Although the financial results for 2025 were under pressure, they were underpinned by stable margins, a loyal customer base and disciplined balance sheet management. Importantly, the net interest margin was held steady throughout the year at 1.92% in a shifting rate environment, demonstrating underlying stability.

Nevertheless, for 2025 we reported a net loss of EUR -25.0 million, as a result of a number of one-off provisions. Primarily, a EUR 59.7 million expected credit loss provision in response to a sector-wide deterioration in German fibre optic market conditions. Additional provisions included a further EUR 16.2 million linked to the settlement offer to DR Holders, EUR 7.3 million related to the decision to wind-down our business in Germany, and EUR 7.3 million in restructuring and transformation costs connected to the Fit for Impact transformation programme. While our operating expenses decreased in 2025 as a result of the non-recurring provision in 2024 relating to the settlement offer, our underlying expenses remained broadly stable due to higher personnel expenses from wage inflation, largely offset by savings in other areas.

Our financial foundations remain robust. Our CET1 ratio increased to 17.4% strengthened further under CRR III, supported by prudent risk management and strong buffers. Our balance sheet grew to EUR 17.6 billion, and our loans-to-deposits ratio reduced to 76.2%, reflecting a strong and stable funding base.

DR litigation risk has significantly decreased following favourable rulings from the Spanish Supreme Court and the District Court of Midden-Nederland and the closure of our settlement offer to DR Holders, which was accepted by 82.4% of eligible DRs, representing 11.7 million DRs.

To build a future-proof and focused organisation, we took several important steps. The Fit for Impact transformation programme was launched to strengthen customer focus, to invest in commercial capabilities and to modernise technology and systems. As part of our Focused Growth strategy, we announced the wind-down of our German business by the end of 2027, we rationalised Triodos Investment Management funds, consolidated our Spanish operations focusing on Madrid and Barcelona, and announced a repositioning in Spain and Belgium by discontinuing certain retail banking products.

We have refreshed our visual identity, launched the Triodos Bank Impact Collective, continued to finance our five transition themes, and updated our Climate and Nature strategy with a target on financing at least 275 energy transition deals by 2030, while evolving as an organisation to stay at the forefront of impact finance. Our focus will remain on our customers, on digital innovation and on making decisions that strengthen our ability to deliver the greatest positive change at sufficient scale. Together, we will remain firmly anchored in our mission.

The measures we put in place in 2025 and early 2026 form the basis on which we will build the next phase of Triodos Bank’s development. Although 2025 shows a net loss and performance outside our financial target ranges, the steps we have taken reduce risk, simplify the organisation and lower our cost base. For 2026, we expect Triodos Bank to return to growth in income and achieve a decline in operating expenses compared to 2025. With the introduction of Fit for Impact, we strive to achieve 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.”

2025 Annual Report

Triodos Bank’s 2025 Annual Report was published today and is available on our website: www.triodos.com/reporting

Audio webcast details

Management will host an audio webcast for investors and analysts on 12 March 2026 at 11:00 CET: www.triodosbank.engagestream.euronext.com/2026-12-03-fy2025/register

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

Regulated information

Important Information and Disclaimer

Triodos Bank N.V.’s 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 2024 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.

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 tothe 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.