Nordax Group Year-End Report 2015

JANUARY - DECEMBER

Numbers compared with January - December 2014

• Loan portfolio increased by 12.7% in constant currencies

• Net interest margin increased to 8.9% (8.5%)

• Adjusted total operating income amounted to 943 MSEK (805). Total operating
income amounted to 888 MSEK (803)

• Adjusted cost to income ratio improved to 28.5% (29.4%)

• Adjusted operating profit increased by 9.5% to 392 MSEK (358). Operating
profit amounted to 250 MSEK (325)

• Adjusted earnings per share were 2.76 SEK (2.52). Earnings per share were 1.76
SEK (2.29)

• Proposed dividend of 0.50 SEK per share, totaling 55.5 MSEK

4th QUARTER

Numbers compared with 4th quarter 2014

• Loan portfolio increased by 4.0% in constant currencies compared to previous
quarter

• Net interest margin increased to 9.4% (8.6%)

• Adjusted total operating income amounted to 254 MSEK (219). Total operating
income amounted to 228 MSEK (205)

• Adjusted cost to income ratio improved to 28.5% (29.4%)

• Adjusted operating profit amounted to 109 MSEK (105). Operating profit
amounted to 80 MSEK (81)

• Adjusted earnings per share were 0.76 SEK (0.74). Earnings per share were 0.57
(0.58) SEK

CEO comments

New lending and profit were at an all-time high in the fourth quarter. New
lending was close to 1.2 billion SEK in the quarter and 4.1 billion SEK in 2015.
Adjusted operating profit reached an all-time high level of 109 MSEK in the
quarter and 392 MSEK in 2015. This proves the strength of our business model.

Our business in Sweden developed very well in the fourth quarter with new
lending of 430 MSEK compared to 305 MSEK in the third quarter. The strong growth
in new lending continued in Norway and Finland with good net interest margins.

Our advanced marketing models and thorough underwriting form the basis for our
sound credit quality across the markets. We took an important step in the
quarter when we increased the maximum loan amounts in Norway and Sweden to
500,000 NOK and SEK. This further strengthens our profile as a lender who offers
large loans to financially stable individuals.

The development in Germany in the fourth quarter continued to demonstrate the
possibilities we see in this market. In the quarter, the net interest margin
amounted to 9.2%. Our marketing models and underwriting process are working
efficiently in Germany although we are still evaluating the process for
recoveries.

Our total net interest margin showed a strong performance in the fourth quarter
and amounted to 9.4%. For the full year, the total net interest margin was 8.9%.
The increase is driven mainly by lower funding costs and strong margins on new
lending.

The net credit loss level of 1.5% in 2015 and 1.3% in the fourth quarter are
well below our long-term target of 2% through the cycle. Credit quality is key
to us and an essential part of our business model. Net credit loss levels tend
to fluctuate between quarters and regions and should be evaluated on a longer
-term basis. In the quarter, the provisioning level was reduced in Sweden and
increased in Norway.

We aim to grow our lending book as well as profit in 2016. We currently see a
continuing good macroeconomic environment in Sweden and Germany. In Norway we
saw an impact on credit performance in the fourth quarter and we are closely
watching the macroeconomic development. In the long term Norway is an important
market where we see opportunities going forward. The macroeconomic development
in Finland has not impacted our business either in new lending or net credit
losses.

The weakening NOK and EUR negatively impacted our financial performance in the
fourth quarter. The currency fluctuations impacted the operating profit as well
as the growth in new lending and our total portfolio measured in SEK.

In the fourth quarter, we successfully issued an asset backed securities
transaction of SEK 1.8 billion which further strengthened our diversified
funding base and lowered our funding costs.

Our underlying performance confirms the strength of our business model and our
customer offering. Nordax’s strengths are our focus on large consumer loans to
financially stable individuals, many effective marketing channels, diversified
funding sources, the sound credit underwriting and robust net interest margins.
During the year, we have taken important steps to further develop our marketing
model, to enhance internal efficiency and to secure continued strong focus on
customer service.

2015 was an eventful and exciting year for Nordax. One of the key events is of
course the listing on Nasdaq Stockholm’s main list in June. We exceeded the
targets set out in the prospectus and are delighted to propose our first
dividend as a listed company. I am very proud of what Nordax has achieved and I
would like to sincerely thank everyone in our team for their dedicated and
successful performance in 2015.

Morten Falch, CEO

For more information, please contact

Morten Falch, CEO, +46 8 690 15 07, morten.falch@nordax.se

Camilla Wirth, CFO, +46 8 690 15 07, camilla.wirth@nordax.se

Johanna Clason, treasurer and debt investor relations, +46 8 690 15 07,
johanna.clason@nordax.se

Åse Lindskog, media and equity investor relations, +46 730 24 48 72,
ase.lindskog@nordax.se

Conference call

Media, analysts and investors are welcome to take part in a conference call on
February 10 at 9.00am CET. CEO Morten Falch and CFO Camilla Wirth will present
the results. After the presentation there will be a Q&A session.

Call-in numbers:

Sweden: +46 8 566 426 52

UK: +44 203 426 28 45

US: +1 347 329 12 82

Link to audiocast:

http://cloud.magneetto.com/wonderland/2016_0210_Nordax_/view

You can also follow the presentation on

https://www.nordaxgroup.com/en/investors/financial-reports/presentations/

More information: www.nordaxgroup.com

For more information about Nordax’s customer offerings, read more on each
country’s web site: www.nordax.se, www.nordax.no, www.nordax.fi, and
www.nordax.de.

Nordax Group AB (publ) announces this information in accordance with the
Securities Market Act and/or the Act on Trading in Financial Instruments and/or
the Nasdaq Stockholm Rule Book. This information was submitted for announcement
on February 10, 2016 at 7.30am CET.

The adjusted numbers are presented in order to show the underlying performance
of the business reflecting constant currencies and excluding non-recurring items
primarily related to the IPO. A bridge between statutory and adjusted accounts
can be found in the report.