Interim Presentation | 3rd quarter 2017 | 18 October 2017

2

Important Information Disclaimer

2

This presentation (the “Presentation”) has been produced by Monobank ASA (the “Company”, “MONOBANK” or “MONO”), solely for use at the presentation to investors and is strictly confidential and

may not be reproduced or redistributed, in whole or in part, to any other person. To the best of the knowledge of the Company and its board of directors, the information contained in this Presentation

is in all material respect in accordance with the facts as of the date hereof, and contains no material omissions likely to affect its import.

This Presentation contains information obtained from third parties. Such information has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information

published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading. This Presentation contains certain forward-looking statements

relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other

statements that are not historical facts, sometimes identified by the words “believes”, expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and

similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions

and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or any of their parent

or subsidiary undertakings or any such person’s officers or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of

them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company assumes no obligation,

except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results.

AN INVESTMENT IN THE COMPANY INVOLVES RISK, AND SEVERAL FACTORS COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE

MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT MAY BE EXPRESSED OR IMPLIED BY STATEMENTS AND INFORMATION IN THIS

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FINANCING, MARKET ACCEPTANCE AND RELATIONS WITH CUSTOMERS, AND, MORE GENERALLY, GENERAL ECONOMIC AND BUSINESS CONDITIONS, CHANGES IN DOMESTIC

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ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THIS PRESENTATION. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION, TO

UPDATE OR CORRECT THE INFORMATION INCLUDED IN THIS PRESENTATION.

No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and

no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, none of the Company or any of their parent or subsidiary undertakings or any such

person’s officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. By attending or receiving this Presentation you acknowledge that you will be

solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of

the potential future performance of the Company’s business.

This Presentation speaks as of 18 October 2017. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create

any implication that there has been no change in the affairs of the Company since such date.

3

Key highlights and developments Q3 2017 Overview

1

2

3

4

5

6

Record-high loan growth of NOK 421 million – net loan balance of NOK 1,867 million

Successful start of the consumer loan business in Finland with outstanding net loans of NOK 186 million

Planned equity issue of NOK 175 to 225 million to fund further profitable growth

Net interest income of NOK 44.6 million – up from NOK 37.1 million in the previous quarter

Net profit after tax reached NOK 5.7 million – up from NOK 3.0 million in the previous quarter

Credit quality develops in line with projections after introducing internally developed scorecard

Successful placement of NOK 50 million hybrid Tier 1 and NOK 50 million subordinated Tier 2 capital 7

4

Key figures Q3 2017 Stable underlying performance

Note(*): Extension of credit in Finland has been restricted to low risk customers until local business volume allowed MONO access to the Finnish debt registry (achieved in September). This has temporarily affected the total loan yield negatively.

1 NET LOANS

MARGINS AND YIELDS 2

3

4

5

6

7

8

9

10

Growth in net loans of NOK 421 million – total outstanding net loans of NOK 1,867 million

Net loan yield of 14.0 % * vs. deposit interest rate of 2.1 %

COST LEVEL Cost / income ratio of 55 % (36 % excluding marketing) – gradually gaining economies of scale

LOAN LOSSES Annualized loan losses of 2.2 % – stable credit quality in line with underlying credit strategy

RETURN ON EQUITY Annualized ROE of 6.7 % – profitable operations after only 3 quarters of operation

CAPITAL ADEQUACY CET1 ratio of 16.5 % and total capital ratio of 20.0 % – well within capital requirements

DEPOSITS Deposit ratio of 109 % – NOK deposits represent the Bank’s main source of funding

LIQUIDITY LCR of 133 % (total) – NFSR of 153 % – satisfactory liquidity

NON-PERFORMING LOANS (>90PD) Non-performing loans of NOK 135.7 million – 7.1 % of gross outstanding loans

TOTAL PROVISIONS 27.5 % of non-performing loans are covered by provisions

5

157

1,270

2,063 2,808

3,807

5,244

6,349

7,529

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

36

259 445

624

840

1,162

1,446

1,867

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

-16.5

-6.5 -3.9

0.5 1.7 1.8

3.0 5.7

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

High and profitable organic growth

Net loans

NOK (million) NOK (million)

Confirms business model

Number of loan customers

number (#)

Profit after tax

Annualized return on equity

n.a. -16.1 %

-9.9 %

1.3 % 2.7 % 2.2 %

3.6 %

6.7 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

per cent (%)

Growth in net loans Growth in number of loan customers

36

223 186 179

216

322 284

421

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

NOK (million)

157

1,113

793 745

999

1,437

1,105 1,180

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

number (#)

6

Initiation of cross-border expansion First step Finland

• Solid multi-country operational platform

already established

• Fast and agile roll-out process with very

efficient time to market

• Continuous and ongoing exploration

of potential foreign markets to enter

• The cross-border launches are expected to

achieve considerable operational synergies,

further strengthen the growth platform and

contribute to diversify the business model

Cross-border expansion Q3 2017 distribution of net loans Current market exposure

Successful launch in Finland

• Unsecured consumer finance loans

rolled out in Finland on 29 May 2017

• Positive first reaction – lending volume

NOK 186m since initiation in Finland

• Extension of credit in Finland has been

restricted to low risk customers until local

business volume allowed access to the local

debt registry (achieved in Sept. 2017).

• Operational team based in Bergen –

no feet on the ground in Finland

• Deposit accounts, credit cards and

other opportunities will be considered

Q3 2017 distribution of growth in net loans

90%

10%

Norway

Finland

65%

35%

Norway

Finland

per cent (%)

per cent (%)

7

Launch of mutual credit card partnership Credit card agreement with Widerøe and SAS EuroBonus - Planned launch around March 2018

Source: Widerøe, SAS EuroBonus, BRREG

Key comments Selected facts

Widerøe 1 SAS EuroBonus 2

Largest regional airline in the Nordics servicing more than

twice as many airports in Norway than any other airline.

Accumulate points on flights, hotel stays, car rentals and

even on everyday purchases. The points can be redeemed

at either SAS or at numerous other partners. Such partners

range from other star alliance airlines, car rental chains,

hotels to restaurants, resorts and much much more.

46

destinations

Norwegian and

international destinations

Average number

of flight per day

Average number

of passengers per year

Flight network

composition

Turnover

2016

Current number

of personnel

450

daily flights

2.8 million

passengers

60% commercial and

40% PSO routes

3,000

employees

NOK

4,560 million

Premier loyalty & frequent flyer program in the Nordic region.

Selected EuroBonus partners:

• Widerøe, SAS EuroBonus and

MONOBANK have over the past two years

negotiated a mutual agreement regarding

a potential credit card partnership

• The parties have, as of 20 October 2016,

agreed on main terms and the agreement

have both been signed and approved by the

respective BoDs in all involved companies

• Future active credit card customers will be

awarded EuroBonus points in addition to

potential benefits from Widerøe

• Widerøe will contribute with marketing

through all available channels towards their

considerable customer portfolio

• The cooperation will also enable sale of

consumer loans to customers of Widerøe

• Technical partners are Visa and Evry

• Planned launch around March 2018

• A final launch plan will be developed based

on the overall project progress and other

commercial initiatives

EuroBonus

8

Customer segmentation * Continuous development and tuning of scorecards to navigate the portfolio

Note(*): represents the customer segmentation in the Norwegian outstanding loan portfolio

Housing Education Age

3%

32%

65%

Primary school

Secondary school

Higher education

25%

28% 28%

15%

4%

25-34 years 35-44 years

45-54 years 55-64 years

65 years +

70%

30%

Home owner

Tenant

14.9 %

13.6 %

11.6 %

8.9 %

6.9 %

5.7 %

5.0 %

4.3 %

4.3 %

4.0 %

3.5 %

3.2 %

2.7 %

2.5 %

2.4 %

2.1 %

1.7 %

1.3 %

1.4 %

Akershus

Oslo

Hordaland

Rogaland

Buskerud

Østfold

Sør-Trøndelag

Nordland

Møre og Romsdal

Vestfold

Troms

Telemark

Hedmark

Vest-Agder

Oppland

Aust-Agder

Nord-Trøndelag

Sogn og Fjordane

Finnmark

Income Location

43 years NOK 629k Higher education Home owner Urban

5%

21%

34%

39%

NOK 250k-349k

NOK 350k-499k

NOK 500k-749k

NOK 750k +

9

Increasing top-line Driven by continued loan growth and satisfying yields and margins

Note(*): Extension of credit in Finland has been restricted to low risk customers until local business volume allowed MONO access to the Finnish debt registry (achieved in September). This has temporarily affected the total loan yield negatively.

Total income Key yields and margins

NOK (million) per cent (%)

0.1 0.5 -0.6 -0.8 -1.0 -1.7 -2.6 -3.1

0.4

4.7

11.7 15.2

22.7

29.9

37.1

44.6

0.5

5.3

11.1

14.5

21.7

28.2

34.5

41.5

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Net comission and fee income Net interest income

n.a. 15.7 % 15.2 % 14.9 % 14.8 % 14.6 % 14.3 %

14.0 %

n.a. 2.0 % 1.8 % 1.8 % 1.9 % 1.9 % 2.0 % 2.1 %

n.a. 1.3 % 1.1 % 1.2 % 0.9 % 0.8 % 0.7 % 0.8 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Loan yield (avg.) * Deposit rate (EoQ) Liquidity yield (avg.)

10

Efficient and scalable operations

Note(*): cost / income ratio = operating expenses (incl. or excl. marketing) / total income

per cent (%)

Expenses under control through strict internal supervision – gradually gaining economies of scale

Operational expenses

NOK (million)

Cost / Income ratio *

11.1

3.5 3.6 2.2

6.5 5.5 6.2 6.9

9.0

3.6 4.5

3.4

4.3 5.6 6.3

6.1

1.3

4.2 4.2

3.6

4.6

8.1

8.0 7.7

0.9

0.6 0.6

0.5

0.3

1.1

1.5 2.0

22.3

12.0 12.9

9.7

15.8

20.3

21.9 22.7

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Staff costs Other administrative expenses

Marketing expenses Depreciation and amortisation

240%

228%

116%

67% 73% 72% 64%

55%

155%

147%

78%

42% 51%

43% 40% 36%

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Cost / Income Ratio Cost (excl. marketing) / Income Ratio

11

Satisfactory loan losses and credit quality Portfolio risk under control through diligent credit risk management and fine-tuning of scorecards

Note(*): loan loss ratio = LTM loan losses / avg. net loans ((starting balance + ending balance) / 2) || Note(**): non-performing loan ratio = >PD90 / gross loans || Note(***): provision ratio = total provisions / >PD90

Gross loans past due (# of days)

NOK (million) NOK (million)

Provisions Loan losses

NOK (million)

Total provision ratio *** Loan loss ratio * Non-performing loan ratio **

per cent (%) per cent (%) per cent (%)

0.7

1.9

3.1

4.2 3.7

4.9

8.3

10.9

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

n.a. n.a. n.a. 3.2 %

2.9 %

2.2 % 2.2 % 2.2 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

0.7 2.6

5.7

9.9 13.5

18.4

26.3

37.3

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

n.a. n.a. 1.5 %

3.7 % 4.8 % 4.9 %

6.4 % 7.1 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

6.8 23

.5

40.7

58.7

94.7

135.

7

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

31-60 PD 61-90 PD > 90 PD

n.a. n.a. n.a. 42.1 %

33.2 %

31.4 %

27.8 %

27.5 %

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

12

Robust regulatory capital structure Important to plan ahead to position the company for continued profitable organic growth

Note(*): MONO issued NOK 50m Tier 1 and NOK 50m Tier 2 Capital 29 August 2017. As of Q3 2017 NOK 27m Tier 1 (1.5% of RWA) and NOK 36m Tier 2 (2.0% of RWA) Capital counts towards MONO’s regulatory capital requirements.

Risk-weighted assets Regulatory capital Reported capital adequacy

16.5

%

54.1

%

31.8

%

20.5

%

17.7

%

27.8

%

21.5

%

21.6

%

20.0

%

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

CET1 T1 * T2 *

CET1 Capital

Req. = 13.5 %

Total Capital

Req. = 17.0 %

per cent (%)

301

27

36

150 144 140 139

309 306 302

363

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

CET1 T1 * T2 *

1,042

1,354

42

297

485

641

844

1,177

74

106

235

156

199

143

263

246 285

359

277

453

683

785

1,107

1,423 1,401

1,819

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

75% loans 100% loans Other RWA

NOK (million) NOK (million)

13

Transparent balance sheet

Note(*): deposit ratio = deposits / net loans

Liabilities and equity Assets

NOK (million)

Consumer loans, liquidity and funding makes up the majority of the structure

NOK (million)

LCR: 133 % (total) NSFR: 153 % Deposit Ratio *: 109 %

36 259

445 624

840

1,162

1,446

1,867

186

417

690 808

1,249

1,492

1,915

2,527

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Net loans to customers Debt securities Loans and advances to banks Other assets

14 246

524 638

903 1,138

1,556

2,043

186

417

690 808

1,249

1,492

1,915

2,527

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

Deposits by customers Total equity Other debt Subordinated loan

14

Detailed financial figures Quarterly income statement and balance sheet

Balance Sheet Income Statement

2015

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4

Interest income 53,535 43,218 34,174 26,679 17,815 13,875 5,175 509

Interest expenses 8,953 6,110 4,305 3,944 2,597 2,151 446 83

Net interest income 44,581 37,108 29,869 22,735 15,218 11,723 4,730 427

Income comissions and fees 4,076 2,931 2,641 2,040 1,286 1,124 1,137 127

Expenses comissions and fees 7,201 5,533 4,350 3,037 2,048 1,737 612 82

Net comissions and fees -3,125 -2,603 -1,709 -997 -762 -613 525 45

Total income 41,457 34,505 28,160 21,738 14,456 11,110 5,254 472

Income / (loss) from trading activities -279 -246 -472 -124 191 -257 -69 39

Staff costs 6,862 6,162 5,514 6,491 2,203 3,581 3,460 11,088

Other administrative expenses 13,806 14,284 13,736 8,957 6,999 8,709 7,883 10,333

- of which marketing expenses 7,705 7,992 8,133 4,629 3,610 4,227 4,237 1,308

Depreciation and amortisation 1,999 1,500 1,079 335 546 630 620 910

Total operating costs 22,666 21,946 20,329 15,783 9,749 12,920 11,963 22,331

Profit / (Loss) before impairment losses 18,511 12,313 7,359 5,831 4,898 -2,067 -6,777 -21,820

Impairment (losses) / releases -10,946 -8,277 -4,919 -3,672 -4,207 -3,100 -1,900 -700

Operating profit / (loss) before tax 7,565 4,036 2,440 2,160 692 -5,167 -8,677 -22,520

Tax charge -1,857 -1,009 -611 -484 -172 1,276 2,167 5,996

Profit / (Loss) for the year 5,708 3,027 1,829 1,676 520 -3,891 -6,510 -16,524

P&L (NOK thousand)20162017 2015

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4

ASSETS

Loans and advances to banks 63,559 52,081 34,536 51,219 27,735 49,293 27,631 17,204

Debt securities 488,535 324,510 220,474 301,265 110,002 158,215 101,177 114,583

Loans and advances to customers 1,904,116 1,472,644 1,180,590 853,569 634,159 450,671 261,281 36,325

Provision for impairment losses 37,278 26,340 18,439 13,531 9,900 5,700 2,600 700

Net loans and advances to customers 1,866,839 1,446,304 1,162,150 840,038 624,259 444,971 258,681 35,625

Deferred tax asset 8,902 10,760 11,769 12,380 10,989 11,161 9,885 7,717

Other intangible assets 31,606 27,042 19,133 12,898 9,835 7,635 7,384 7,123

Property, plant and equipment 1,675 1,513 433 346 166 260 137 157

Prepayments, accrued income & other assets 65,980 52,525 43,360 31,296 24,795 18,960 11,855 3,878

- of which accrued commission to agents 62,677 49,677 40,504 29,815 22,225 15,971 8,969 1,525

Other assets 108,163 91,841 74,695 56,920 45,784 38,015 29,261 18,875

Total assets 2,527,096 1,914,735 1,491,856 1,249,441 807,780 690,494 416,750 186,287

LIABILITIES & EQUITY

Deposits by customers 2,042,687 1,556,326 1,137,690 903,406 637,734 523,737 246,217 13,579

Provisions, acrruals and other liabilities 40,370 19,512 19,458 15,040 13,289 10,519 11,905 7,570

Subordinated loan 98,811 - - - - - - -

Total liabilities 2,181,868 1,575,838 1,157,148 918,446 651,024 534,257 258,122 21,149

Share capital 200,746 200,746 200,461 199,461 156,000 155,000 155,000 155,000

Surplus capital 143,475 137,767 133,862 131,534 756 - 3,628 10,138

Not registered capital 622 - - - - 1,500 - -

Other equity 384 384 384 - - -263 - -

Total equity 345,228 338,897 334,708 330,995 156,756 156,237 158,628 165,138

Total liabilities and equity 2,527,096 1,914,735 1,491,856 1,249,441 807,780 690,494 416,750 186,287

BS (NOK thousand)20162017

15

MONO-ME on Merkur Market as of 16th February 2017 Overview

Source: Infront, VPS Arena || Note(*): OSEEX = index consisting of Norwegian savings banks || Note(**): shareholders marked in gray are either Management, Board of Directors or Employees

Share price development * Shareholders as of 09.10.2017 **

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

2.2

2.4

2.6

2.8

3.0

3.2

3.4

3.6

3.8

4.0

4.2

4.4

4.6

4.8

Feb

-16

Mar

-16

Apr

-16

May

-16

Jun-

16

Jul-1

6

Aug

-16

Sep

-16

Oct

-16

Nov

-16

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

Aug

-17

Sep

-17

Volum (#m)

MONO VOLUME MONO OSEEX (rebased) OSEBX (rebased)

Price per share (NOK) # Investor Role Type

# %

1 PRIORITET GROUP AB Company 23,960,344 11.9%

2 JO CAPITAL AS Board Member Company 18,622,029 9.3%

3 SONGA TRADING INC Company 16,192,589 8.1%

4 BARA EIENDOM AS Company 11,313,104 5.6%

5 HAVA FINANCIALS AS Company 5,480,572 2.7%

6 EKREM AS Company 4,646,854 2.3%

7 CITIBANK, N.A. Nominee 4,300,000 2.1%

8 SWEDBANK AB Nominee 4,000,000 2.0%

9 7FJELL VENTURES AS Company 3,885,000 1.9%

10 MIKE AS Company 3,715,500 1.9%

11 MJ CAPITAL AS Company 3,560,697 1.8%

12 GREVE-ISDAHL FINN Private Investor 3,501,000 1.7%

13 SANDSOLO HOLDING AS Company 3,300,000 1.6%

14 DAHLE BJØRN Private Investor 3,103,672 1.5%

15 LAS INVEST AS Company 3,100,000 1.5%

16 SPORTSMAGASINET AS Company 3,000,000 1.5%

17 HØYSÆTER T-BANECOMPAGNIE AS Company 2,841,464 1.4%

18 MEMO CAPITAL AS Company 2,350,000 1.2%

19 ANGARDE AS Company 2,327,754 1.2%

20 STIAN MIKKELSEN AS Company 2,225,000 1.1%

21 GREVE-ISDAHL JAN Chairman of the Board Private Investor 2,200,500 1.1%

22 HILDING INVEST AS CEO / Bent H. Gjendem Company 2,200,244 1.1%

23 RIMESTAD TOM HENNING COO Private Investor 1,733,012 0.9%

24 ARTEL INVEST AS Company 1,600,000 0.8%

25 VALLAND MARTIN CTO Private Investor 1,544,964 0.8%

26 EIANE CARL PEDER Private Investor 1,522,093 0.8%

27 BRASSETS A/S IT / Erik Brandstadmoen Company 1,500,000 0.7%

28 AMUNDSEN DATA AS IT / Tore Amundsen Company 1,350,000 0.7%

29 GEIR SKÅR HOLDING AS Company 1,300,000 0.6%

30 DELRAY TRADING AS Company 1,219,513 0.6%

Sum TOP 30 141,595,905 70.5%

Other shareholders 59,150,253 29.5%

Total 200,746,158 100.0%

Board of Directors, Management and Employees 32,372,120 16.1 %

Shares

16

Strategy going forward Continue to execute underlying business plan and pursue strategic add-ons

• Monobank has adapted to the recent changes in regulatory guidelines in Norway where necessary though moderate

modifications of underlying products and business conduct. Loan demand in Norway is not expected to be materially affected.

• Access to the Finnish debt registry was granted in September 2017. Temporary internally imposed lending restrictions have

thus been lifted. Loan growth in Finland is expected to accelerate considerably going forward.

• Direct marketing efforts will be increased to further build the Monobank brand which should have a positive impact on the share

of loans generated directly. The bank is also expanding its domestic distribution channels through additional agents.

• Further demand and attractive margins in Norway and Finland enables continued growth

• Consumer loans year-end 2017 of approximately NOK 2.3bn

Profitable

organic growth

• Efficient and scalable operations, diligent credit risk management as well as innovative and flexible IT infrastructure

• Considerable improvements in financial results is to be expected due to economies of scale. However, the bank continues to

be in a rapid development phase, and new opportunities, initiatives and projects will continue to have an impact on cost.

• Monobank’s core business will remain unsecured consumer lending. The bank will investigate new digital distribution channels

such as purchase financing and peer-to-peer solutions.

Maintain

efficient operations

Launch of credit

card product

• Successful launch of the Bank’s consumer loan product in Finland 29 May 2017

• Additional foreign markets are now being analyzed and evaluated for expansion

Multi-country

operation

• The development of the joint credit card project with Widerøe and EuroBonus continues

• Technical partners are Evry and Visa

• The target date for project completion is around March 2018

• A final launch plan will be developed based on the overall project progress and other commercial initiatives

• Further investigation of other strategic partners is ongoing

17

Contemplated private placement NOK 175 to 225 million at NOK 3.70 per offer share to fund further profitable growth

Note(*): MONO issued NOK 50m Tier 1 and NOK 50m Tier 2 Capital 29 August 2017. As of Q3 2017 NOK 27m Tier 1 (1.5% of RWA) and NOK 36m Tier 2 (2.0% of RWA) Capital counts towards MONO’s regulatory capital requirements.

Reported capital adequacy Transaction rationale Transaction details

Growth in net loans

16-17 OCT

18 OCT

18-20 OCT

~ 23 OCT

~ 06 NOV

~ 10 NOV

18 OCT

NOV / DEC

18-20 OCT

~ 07 NOV

Pre-sounding of key shareholders

Announcement of Q3 2017 report and private placement

Bookbuilding period in private placement

Roadshow in Bergen, Oslo, Helsinki, Stockholm and London

Conditional allocation in private placement and notice of EGM

EGM to resolve private placement and repair issue

Payment of shares in private placement

Delivery of shares in private placement

Ex. subscription rights in subsequent repair issue

Subscription period in subsequent repair issue

Net loans

36

259 445

624

840

1,162

1,446

1,867

~ 2,300

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

'15 2016 2017 '17E

Transaction timeline

36

223 186 179

216

322

284

421 ~ 433

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

'15 2016 2017 '17E16

.5 %

54.1

%

31.8

%

20.5

%

17.7

% 27

.8 %

21.5

%

21.6

%

20.0

%

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

'15 2016 2017

T2 * T1 * CET1

Cross-border expansion starting with Finland

2

Maintain highly profitable growth story in Norway

1

Credit card agreement with Widerøe / EuroBonus

3 CET1 Capital

Req. = 13.5 %

Total Capital

Req. = 17.0 %

Private Placement

of NOK 175-225 million

NOK 3.70 per

offer share

Current shareholders have already committed to subscribe

for NOK 80 million and guaranteed (conditional upon

approval from the NFSA) for an additional NOK 92 million

Monobank ASA | # 913 460 715 | Starvhusgaten 4, 5014 Bergen | www.monobank.no