LIECHTENSTEINISCHE LANDESBANK AG INTERIM

Financial Statements

Vaduz, 19 August 2026 Page 2/4 efficiency of its lending book in the previous year, the LLB Group returned to boosting growth with net new loans. These amounted to CHF 211 million (first half of 2025: CHF -239 million), corresponding to an annualised increase of 2.5 per cent. "The market environment remained challenging in the first half year of 2026. The fact that we were nevertheless able to increase our business result while at the same time improving our efficiency shows the effectiveness of our business model and that our strategic positioning is sound", commented Chairman of the Board Georg Wohlwend on the business result. LLB Group increases operating income In the first half year of 2026, operating income increased by 0.9 per cent to CHF 315.5 million (first half of 2025: CHF 312.8 million). Fee and commission income made a major contribution to this increase, rising by 5.9 per cent thanks to higher client asset volumes. The intensified trading activity in the early part of the year due to geopolitical tensions had a positive effect on earnings. The persisting low level of interest rates in Swiss francs weighed on interest differential business leading to a fall in interest income. This was more than compensated for thanks to higher fee and commission business and our diversified business model, once again illustrating how sustainable and broadly supported the LLB Group’s earning base is. Other income stood at around CHF 9.4 million above the previous year’s level, which was mainly attributable to earnings received from the referral agreement in connection with the strategic withdrawal from the Middle East business. A total of CHF 4.7 million was allocated for risk provisions. Lower operating expenses, improved efficiency Operating expenses were down by 6.8 per cent to CHF 190.6 million in the first half year of 2026 (first half of 2025: CHF 204.6 million). The decrease was the result of several factors: the previous year’s result contained one-time integration costs in connection with the take over of ZKB Österreich, which were not applicable in the current year. Furthermore, personnel costs were lower because total headcount was lower than in the previous year due to the realisation of synergies. In total, operating expenses were lower by around CHF 14.0 million. The combination of higher earnings and lower costs significantly improved efficiency l