EQS-Adhoc: Varengold Bank AG adjusts previous earnings forecast for the 2024 financial year

Hamburg, 26/03/2025 – Varengold Bank has adjusted its preliminary earnings forecast for the 2024 financial year as a result of ongoing closing entries in the preparation of the annual financial statements for the 2024 financial year. Despite the negative impact of special effects, the business result remains positive. However, the most recently forecast of preliminary and unaudited earnings before taxes (EBT) for the 2024 financial year of EUR 11.3 million will be between EUR 6.25 million and EUR 6.75 million. This deviation is due in particular to additional provisions created for severance payments to the members of the Board of Managing Directors who left at the beginning of March 2025 and for administrative expenses in connection with the special audit pursuant to Section 44 of the German Banking Act (KWG).

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This notification is a mandatory notification according to Art. 17 MAR. The assessments contained are subject to the following caveats.

Disclaimer on forward-looking statements / no duty to update

This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future results may differ materially from those currently expected, namely due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, fluctuations in exchange rates, uncertainties regarding legal disputes or investigations, and the availability of financial resources. The reader should therefore not over-rely on these statements, particularly in connection with contracts or investment decisions. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this communication.

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This announcement does not constitute an offer or invitation to subscribe for or purchase any securities of Varengold Bank AG in the United States of America, Germany or any other jurisdiction. This announcement does not constitute a recommendation regarding the placement of the securities described in this announcement.