Best year in the history of the Bank

Nasdaq Copenhagen A/S               Skjern, 7 February 2024

Nikolaj Plads 6

1007 København K

Announcement 1/2024

Best year in the history of the Bank

• Profit before tax increased by 80 % to of DKK 344.1 million compared with DKK 191.1 million in 2022

• Equity yielded interest of 24.0 % before tax

• Core earnings increased by 44 % to DKK 335.9 million, compared with DKK 233.6 million in 2022

• Exchange rate adjustments of DKK 47.2 million compared with DKK -30.8 million in 2022

• Net interest and fee income increased by 28.0 % to DKK 593.5 million

• Impairment of DKK 27.6 million including increase in the management estimate of DKK 30 million to DKK 100 million

• Lending increased by 23.1 % and amounts to DKK 6,726 million and deposits increased by 5.7 % and amount to DKK 8,284

• Capital ratio of 22.8 % and individual solvency requirements of 10.1 %

• Proposal of DKK 5 per share, corresponding to DKK 48 million or 18.7 % of profit after tax for the year

• Profit before tax for 2024 is expected to be in the range of DKK 270 – 300 million

Kind regards

Skjern Bank

Hans Ladekjær Jeppesen               Per Munck

Chairman of the Board                  Director

Questions should be directed to Director Per Munck by phone at 21 73 30 04.

Attachment

• SKJEUK-2023-12-31