Interim report
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Interim Financial Report Q1-Q3 2026 Jyske Bank Vestergade 8-16 · DK-8600 Silkeborg Tel. +45 89 89 89 89 jyskebank.dk jyskebank.com Business Reg. No. (CVR) 17 61 66 17
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2Introduction Financial Review Financial Statements Statements Interim Financial Report Q1-Q3 2026 Introduction Financial review Summary 2026 outlook Highlights Net profit for the period Business volumes Credit quality Capital management Liquidity management Business areas Other information 04 05 06 Jyske Bank Group34 Statement by the Management and Supervisory Boards 5910 16 18 20 22 25 32 Management’s Review Contents Financial statements Statements Financial statements Statements
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3 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Summary 2026 outlook Highlights Introduction
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4 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Lars Mørch CEO and Member of the Group Executive Board Summary During the first nine months of 2026, customer activity remained high, business momentum accelerated and credit quality stayed strong, underpinning an upgraded outlook. We also further strengthened our position within wealth management through the agreement to acquire Formuepleje. The financial performance in the first nine months of 2026 reflects earnings per share of DKK 61, and continued posi- tive momentum in business volumes. Performance was supported by under- lying income growth and disciplined cost management, while credit quality remained solid. The Danish economy continued to be characterised by high employment and resilient household and corporate fi- nances. While geopolitical uncertainty and market volatility persisted, customer activity remained solid and Jyske Bank's customers generally remained financial- ly strong. Business momentum and im- proved market position Jyske Bank continued to develop the business during the first nine months of 2026. Commercial activity remained sol- id across key business areas, driven by a growing customer base, and a contin- ued focus on building strong customer relationships. This was reflected in high customer satisfaction, with Jyske Bank ranking number one across corporate banking segments and within Private Banking in the Customer Experience Management (CEM) survey by Voxmeter. Jyske Bank was recognised as one of the most improved brand in Denmark in YouGov’s annual brand ranking for the second consecutive year, reflecting stronger customer perception and in- creased brand relevance. Enhanced customer offerings and advisory services As part of the ongoing execution of the Group strategy “Potential for more” , customer offerings and advisory servic- es continued to evolve during the pe- riod. An AI-based solution supporting the handling of customer enquiries was implemented, contributing to improved response times and more efficient cus- tomer interactions. Initiatives across ad- visory services, digital sales and custom- er engagement supported high activity levels throughout the organisation. Acquisition of Formuepleje Jyske Bank has entered into an agree- ment on the acquisition of Formuepleje, one of Denmark's largest independent wealth managers with approximately 14,000 investors, assets under manage- ment of around DKK 40bn and a strong presence in and around Aarhus and Co- penhagen. The transaction supports Jyske Bank's ambition to accelerate growth within wealth management and strengthens its position among affluent customers. The transaction has been approved by the authorities and is expected to be com- pleted on 2 November 2026. Changes to the Group Executive Board With effect from 1 October 2026, Jyske Bank appointed Klaus Naur as COO and member of the Group Executive Board, responsible for Digitalisation and Op- erations. Klaus Naur succeeded Peter Schleidt, who retired after nine years in the Group Executive Board. EPS of DKK 61 in Q1-Q3 2026 Earnings per share amounted to DKK 61 in Q1-Q3 2026, against the record-high level of DKK 63 achieved in the same period of 2025. Underlying perfor- mance continued to reflect solid busi- ness momentum, supported by healthy activity levels, disciplined cost manage- ment and strong credit quality. Core income declined by 3% year-on- year to DKK 9,666m, primarily reflecting lower value adjustments, partly offset by higher volumes and an increase in net fee and commission income, par- ticularly driven by asset management activities. Core expenses were unchanged at DKK 4,733m in Q1-Q3 2026 compared to DKK 4,732m in the same period of 2025. Adjusted for a one-off cost, un- derlying expenses increased by 1%, as sector-wide salary adjustments and in- flation were partly offset by continued efficiency measures. Credit quality remained solid with loan impairment charges amounting to an income of DKK 10m, despite increasing post-model adjustments by DKK 246m to DKK 1.9bn amid elevated geopoliti- cal uncertainty. The capital position remained robust. At the end of Q3 2026, the common equity tier 1 capital ratio amounted to 15.7%, while the total capital ratio amounted to 20.9%, providing a solid buffer above regulatory requirements.
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5 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Outlook 2026 DKK 78-87 per share For 2026, Jyske Bank estimates a net profit in the range of DKK 4.7bn-5.2bn, equivalent to earnings per share in the range of DKK 78-87. Expectations are in line with assumptions for the financial targets for 2028. The outlook was revised upwards on 12 October 2026 from the originally announced ranges of DKK 4.3bn-5.1bn and DKK 71-85, respectively. Core income is expected to decline in 2026, in particular as a result of lower value adjustments. Core expenses are expected to be slightly lower in 2026 due to lower one-off costs and cost-saving initi- atives, which are expected to more than offset salary inflation, increased marketing expenses, and continued IT investments. Earnings per share (DKK) Core income Core expenses Loan impairment charges Net profit Common equity tier 1 capital Lower in 2026 Primarily due to lower value adjustments Slightly lower in 2026 Lower one-off costs and initiatives are expected to offset inflation Higher in 2026 Compared to very low level of DKK 2m in 2025. Underpinned by strong credit quality DKK 4.7bn-5.2bn Equivalent to earnings per share in the range of DKK 78-87 Around 15% The total capital ratio is around 20% The trend in core income and expenses is expected to result in a slightly higher cost/income ratio in 2026 than the 48 recorded in 2025. It is presumed that loan impairment charges will also be low in 2026, although higher than in 2025. Expec- tations are supported by considerable post-model adjustments, reflecting, among other things, risks involved in the expected economic development. Expectations involve uncertainty and depend, for instance, on macroeconom- ic circumstances and developments in the financial markets. 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2026E 78-87 85 80 89 55 42 20 29 28 35 33 26
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6 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Highlights Q1-Q3 2026 DKK 78-87 7% 4% Following a broad-based positive development in the first nine months of 2026, the outlook for earnings per share for the year was upgraded to DKK 78-87 from DKK 71-85 on 12 October 2026. Nominal mortgage lending for personal customers grew 7% y/y in Q3, the highest rate since the acquisition of Handelsbanken Denmark in 2022. Net interest income rose 4% q/q in Q3 2026 - the largest sequential increase since Q3 2023 amid higher short-term interest rates.
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7 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Core profit and net profit for the period DKKm Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Year 2025 Net interest income 6,586 6,629 99 2,270 2,177 2,139 2,213 2,187 8,842 Net fee and commission income 2,231 2,073 108 773 697 761 966 689 3,039 Value adjustments 701 1,091 64 177 499 25 480 512 1,571 Other income 62 67 93 21 16 25 38 32 105 Income, operating lease, etc. (net) 86 82 105 35 18 33 15 19 97 Core income 9,666 9,942 97 3,276 3,407 2,983 3,712 3,439 13,654 Core expenses 4,733 4,732 100 1,605 1,593 1,535 1,859 1,537 6,591 Core profit before loan impairment charges 4,933 5,210 95 1,671 1,814 1,448 1,853 1,902 7,063 Loan impairment charges -10 -22 45 -50 11 29 24 25 2 Core profit 4,943 5,232 94 1,721 1,803 1,419 1,829 1,877 7,061 Investment portfolio earnings 34 127 27 6 28 0 69 52 196 Pre-tax profit 4,977 5,359 93 1,727 1,831 1,419 1,898 1,929 7,257 Tax 1,297 1,367 95 449 478 370 476 474 1,843 Net profit for the period 3,680 3,992 92 1,278 1,353 1,049 1,422 1,455 5,414 AT1 capital interest, charged against equity 198 198 100 67 66 65 66 67 264
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8 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Relationships between the income statement items on page 7 and the IFRS income statement page 35 appear from Note 4. * Financial ratios are calculated as if additional tier 1 capital (AT1) is recognised as a liability. ** The number of employees at the end of the first nine months of 2026 less 26 employees who are financed externally against 16-26 employees in the other quarters. Financial ratios and key figures Q1-Q3 2026 Q1-Q3 2025 Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Year 2025 Earnings per share for the period (DKK)* 60.8 62.5 21.4 22.5 16.9 23.0 23.2 85.5 Earnings per share for the period (diluted) (DKK)* 60.8 62.5 21.4 22.5 16.9 23.0 23.2 85.5 Pre-tax profit as % of average equity p.a. * 13.5 14.9 14.1 15.2 11.6 15.6 16.1 15.0 Profit for the period as % of average equity p.a. * 9.8 10.9 10.3 11.1 8.4 11.5 12.0 11.1 Return on tangible equity p.a. * 10.5 11.8 11.1 11.9 9.0 12.4 12.9 11.9 Expenses as a percentage of income 49.0 47.6 49.0 46.8 51.5 50.1 44.7 48.3 Capital ratio (%) 20.9 23.0 20.9 21.0 20.9 21.5 23.0 21.5 Common equity tier 1 capital ratio (%) 15.7 16.2 15.7 15.7 15.6 16.1 16.2 16.1 Solvency requirement (%) 10.9 10.9 10.9 10.8 10.7 10.7 10.9 10.7 Capital base (DKKbn) 53.0 55.6 53.0 53.0 52.9 53.6 55.6 53.6 Weighted risk exposure (DKKbn) 254.1 241.9 254.1 252.4 253.6 249.3 241.9 249.3 Share price at end of period (DKK) 1,097 708 1,097 945 880 873 708 873 Distributed dividend per share (DKK) 25 24 0 0 25 0 0 24 Book value per share (DKK)* 841 786 841 824 801 810 786 810 Price/book value per share (DKK)* 1.3 0.9 1.3 1.1 1.1 1.1 0.9 1.1 Outstanding shares in circulation (‘000) 56,114 59,445 56,114 56,846 57,640 58,490 59,445 58,490 Number of full-time employees, end of period** 3,859 3,851 3,859 3,819 3,819 3,794 3,851 3,794 Summary of balance sheet, end of period DKKbn Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q2 2026 Q1 2026 Q4 2025 Loans and advances 578.5 572.9 101 582.2 575.0 577.2 - of which mortgage loans 382.8 375.9 102 384.3 378.7 377.3 - of which bank loans 143.1 140.4 102 141.8 140.1 141.0 - of which repo loans 52.6 56.6 93 56.1 56.2 58.9 Bonds and shares, etc. 110.6 114.7 96 109.4 114.1 114.7 Total assets 760.3 745.1 102 755.4 754.6 777.1 Deposits 211.7 201.3 105 207.7 210.0 208.1 - of which bank deposits 202.4 190.5 106 202.1 199.8 196.5 - of which repo and triparty deposits 9.3 10.8 86 5.6 10.2 11.6 Issued bonds at fair value 366.8 368.9 99 365.7 367.8 374.9 Issued bonds at amortised cost 63.9 53.2 120 57.8 53.3 65.4 Subordinated debt 8.2 11.4 72 8.5 8.4 11.4 Holders of additional tier 1 capital 4.9 4.9 100 4.9 4.9 4.9 Shareholders' equity 47.2 46.7 101 46.8 46.2 47.4
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9 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Financial review Net profit for the period Business volumes Credit quality Capital management Liquidity management Business areas Other information
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10 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Net profit for the period Net profit DKKm In Q1-Q3 2026, earnings per share amounted to DKK 60.8, below the record-high level of DKK 62.5 in the same period of 2025. This corresponds to a net profit for the period of DKK 3,680m compared with DKK 3,992m. The development primarily reflected lower value adjustments and dividends and lower investment portfolio earnings. These effects were partly offset by higher net fee and commission income. 3.176 3.752 5.904 5.312 5.312 2,194 4,106 4,044 3,992 3,680 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 Core profit and net profit for the period DKKm Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Year 2025 Net interest income 6,586 6,629 99 2,270 2,177 2,139 2,213 2,187 8,842 Net fee and commission income 2,231 2,073 108 773 697 761 966 689 3,039 Value adjustments 701 1,091 64 177 499 25 480 512 1,571 Other income 62 67 93 21 16 25 38 32 105 Income, operating lease, etc. (net) 86 82 105 35 18 33 15 19 97 Core income 9,666 9,942 97 3,276 3,407 2,983 3,712 3,439 13,654 Core expenses 4,733 4,732 100 1,605 1,593 1,535 1,859 1,537 6,591 Core profit before loan impairment charges 4,933 5,210 95 1,671 1,814 1,448 1,853 1,902 7,063 Loan impairment charges -10 -22 45 -50 11 29 24 25 2 Core profit 4,943 5,232 94 1,721 1,803 1,419 1,829 1,877 7,061 Investment portfolio earnings 34 127 27 6 28 0 69 52 196 Pre-tax profit 4,977 5,359 93 1,727 1,831 1,419 1,898 1,929 7,257 Tax 1,297 1,367 95 449 478 370 476 474 1,843 Net profit for the period 3,680 3,992 92 1,278 1,353 1,049 1,422 1,455 5,414 AT1 capital interest, charged against equity 198 198 100 67 66 65 66 67 264
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11 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 1 2 3 Net interest income Net interest income declined by 1% y/y, primarily reflecting lower returns on excess liquidity due to the decreasing level of interest rates during 2025. This effect was partly offset by higher business volumes as well as increasing interest rates during 2026. Net fee and commission income Net fee and commission income increased by 8% y/y, driven by higher income from asset management as well as higher commissions from pension and insurance activities. Value adjustments and dividends The lower level compared with Q1-Q3 2025 primarily reflected increasing interest rates during 2026, whereas the same period last year benefited from significant spread tightening of Danish mortgage bonds. 321 Profit for the period Net profit (DKKm) 3.9924.044 K1-3 ’24 3,992 3,680 Q1-3 '25 Net interest income Net fees and commissions Value adjustments and dividends Other income Income, operating lease, etc. (net) Core expenses (incl. one-offs) Loan impairment charges Investment portfolio Tax Q1-3 '26 321
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12 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Net interest income DKKm Net fee and commission income DKKm Net fee and commission income rose by 8% to DKK 2,231m. The increase was primarily driven by higher income from securities trading and custody services, reflecting higher assets under management, as well as higher other fee income, driven by pension and insurance activities. Core income -3% Core income declined by 3% year- on- year to DKK 9,666m in Q1-Q3 2026, primarily reflecting lower value adjustments and dividends, partly offset by higher volumes and an increase in net fee and commis- sion income, supported by higher income from asset management. The development in Q1-Q3 2026 is aligned with the guidance of lower core income for 2026 compared to 2025. Mortgage loans Bank loans (excl. repo) Other net interest income Deposits (excl. repo and triparty) Securities trading and custody services Payment services Mortgage fees Loan application fees Guarantee commission Other fee income Fees paid 1,848 1,813 1,836 2,073 2,231 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 4,083 7,182 7,275 6,629 6,586 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 Net interest income fell by 1% to DKK 6,586m. The decline reflects lower returns on excess liquidity due to the decreasing level of interest rates during 2025. This effect was partly offset by higher business volumes as well as increasing interest rates during 2026.
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13 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Value adjustments and dividends DKKm Other income DKKm Income from operating lease, etc. (net) DKKm Core income Danish policy rate P.a. On 12 June and 11 September 2026, Danmarks Nationalbank increased its policy rate by a total of 50bp from 1.6% to 2.1%. The changes underpin Jyske Bank's net interest margin. Value adjustments and dividends amounted to DKK 701m in Q1-Q3 2026 compared with record-setting DKK 1,091m in Q1-Q3 2025. The decline mainly reflected a lower contribu- tion from spread tightening of Danish mortgage bonds than in the same period last year as well as the impact from higher interest rates. Other income amounted to DKK 62m in Q1-Q3 2026 com- pared with DKK 67m in the same period of 2025. Income from operating lease, etc. (net) increased to DKK 86m from DKK 82m in Q1-Q3 2025. The increase was caused by lower impairment charges. -1% 0% 1% 2% 3% 4% 2020 2021 2022 2023 2024 2025 2026-299 943 997 1,091 701 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 110 73 62 67 62 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 283 233 137 82 86 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26
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14 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Core expenses Including one-off items, DKKm Loan impairment charges DKKm Investment portfolio earnings DKKm Tax DKKm 4.848 4.904 4.879 6.402 6.402 Core expenses were unchanged at DKK 4,733m in Q1-Q3 2026 compared to DKK 4,732m in the same period of 2025. Adjusted for a one-off cost, underlying expenses increased by 1%, as sector-wide salary adjustments and inflation were partly offset by continued efficiency measures. The development was in line with previously communicat- ed expectations for a slightly lower cost base in 2026 than in 2025. Loan impairment charges amounted to an income of DKK 10m, despite increasing post-model adjustments by DKK 246m to DKK 1.9bn amid elevated geopolitical uncertainty. Credit quality remained solid. The level of loan impairment charges in Q1-Q3 2026 is in line with previously communicated expectations for a higher level in 2026 than in 2025. Investment portfolio earnings amounted to DKK 34m in Q1-Q3 2026 compared with DKK 127m in Q1-Q3 2025. Higher net interest income booked under investment portfolio earnings was more than offset by lower value adjustments, which decreased from a high level amid increasing interest rates in 2026. Tax amounted to DKK1,297m in Q1-Q3 2026 against DKK 1,367m in Q1-Q3 2025. The Q1-Q3 2026 tax corresponds to 26.1% of pre-tax profit. Other income statement items -447 96 13 -22 -10 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 -102 7 19 127 34 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 548 1,395 1,428 1,367 1,297 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 3,628 4,654 4,841 4,732 4,733 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26
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15 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Earnings per share amounted to DKK 21.4 in Q3 2026, corresponding to a decrease of 5% compared with the preceding quarter. The decrease was driven primarily by lower value adjustments and dividends, partly offset by higher underlying income. Core income amounted to DKK 3,277m, corresponding to a decline of 4% compared with Q2 2026. Net interest income amounted to DKK 2,270m, corre- sponding to an increase of 4% compared with Q2 2026. The increase was driven by higher short-term interest rates, reflecting the Danish policy rate increases in June and September 2026, as well as higher business volumes and more interest days. Net fee and commission income increased by 11% q/q to DKK 773m. The increase was caused by higher assets under management and seasonally higher fee income from refinancing of mortgage loans. Value adjustments and dividends amounted to DKK 177m compared with DKK 499m in Q2 2026. The lower level primarily reflected increasing interest rates, while the Q3 2026 compared with Q2 2026 preceding quarter benefited from particularly strong value adjustments due to spread tightening. Other income increased to DKK 21m in Q3 2026 from DKK 16m in the preceding quarter. Income from operating lease activities (net) increased to DKK 35m from DKK 18m in Q2 2026, mainly caused by lower impairment charges. Core expenses amounted to DKK 1,605m, corresponding to an increase of 1% compared with Q2 2026 due to one- off expenses of DKK 16m. Loan impairment charges amounted to an income of DKK 50m in Q3 2026 against an expense of DKK 11m in Q2 2026. Post-model adjustments increased by DKK 119m to DKK 1,949m and credit quality remained solid. Investment portfolio earnings amounted to DKK 6m against DKK 28m in Q2 2026, reflecting more mixed finan- cial market developments than in the preceding quarter. Earnings per share DKK 21.4 Q3 2026
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16 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Business volumes At the end of Q3 2026, Jyske Bank's total loans and advances (exclusive of repo loans) amounted to DKK 525.9bn and mainly consisted of mortgage loans collateralised by real property. This was 2% higher than DKK 518.3bn at the end of 2025. Mortgage loans measured at fair value of DKK 382.8bn was impacted by higher interest rates. Nominal mortgage loans rose by 3% to DKK 406.8bn at the end of Q3 2026. The increase was driven by higher lending to corporate and espe- cially personal customers. Bank loans and advances increased by 2% to DKK 143.1bn at the end of Q3 2026 compared with the end of 2025. Higher lending to corporate customers more than offset lower lending to personal customers, as mortgage-like bank loans are on an ongoing basis being transferred from Jyske Bank to Jyske Realkredit. Bank deposits rose by 3% to DKK 202.4bn compared with DKK 196.5bn at the end of 2025. The increase was especially driven by higher deposits from personal customers. Business volumes within asset man- agement increased to DKK 337bn at the end of Q3 2026 from DKK 306bn at the end of 2025. Overall, assets under management benefited from develop - ments in the financial markets during the period, driven primarily by rising equity markets. In addition, net sales of investment solutions were positive for both retail and institutional clients. Summary of balance sheet, end of period DKKbn Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q2 2026 Q1 2026 Q4 2025 Loans and advances 578.5 572.9 101 582.2 575.0 577.2 - of which mortgage loans 382.8 375.9 102 384.3 378.7 377.3 - of which bank loans 143.1 140.4 102 141.8 140.1 141.0 - of which repo loans 52.6 56.6 93 56.1 56.2 58.9 Bonds and shares, etc. 110.6 114.7 96 109.4 114.1 114.7 Total assets 760.3 745.1 102 755.4 754.6 777.1 Deposits 211.7 201.3 105 207.7 210.0 208.1 - of which bank deposits 202.4 190.5 106 202.1 199.8 196.5 - of which repo and triparty deposits 9.3 10.8 86 5.6 10.2 11.6 Issued bonds at fair value 366.8 368.9 99 365.7 367.8 374.9 Issued bonds at amortised cost 63.9 53.2 120 57.8 53.3 65.4 Subordinated debt 8.2 11.4 72 8.5 8.4 11.4 Holders of additional tier 1 capital 4.9 4.9 100 4.9 4.9 4.9 Shareholders' equity 47.2 46.7 101 46.8 46.2 47.4
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17 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 80 100 120 140 160 180 200 Q1-3 '21 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 Business volumes Index (rebased to 100) Mortgage loans Bank loans and advances (excl. repo) Deposits (excl. repo and triparty) Assets under management Jyske Bank’s total loans and advances (exclusive of repo loans) amounted to DKK 525.9bn at the end of Q3 compared with DKK 526.1bn at the end of Q2. The slight decrease can be attributed to a lower fair value of mort- gage loans amid increasing interest rates. Nominal mortgage loans rose by 1% to DKK 406.8bn, supported by continued growth in lending to person - al customers. Bank loans and advances rose by 1% to DKK 143.1bn in Q3 The increase was primarily driven by lending to corporate customers. Bank deposits increased to DKK 202.4bn from DKK 202.1bn. The slight increase reflected higher deposits from corporate customers. The business volumes within asset management rose to DKK 337bn from DKK 331bn supported by positive performance in equity markets, while rising interest rates had a negative impact. In addition, net sales of invest- ment solutions were positive among retail clients, while net sales to institutional clients were broadly flat. Q3 2026 compared with Q2 2026
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18 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Credit quality Loans, advances and guarantees Share of gross loans, advances and guarantees Jyske Bank’s credit risks primarily relate to mortgage loans secured against real property as well as bank loans, advances and guarantees. Loans and guarantees are distributed with 57% to corporate customers, 41% to personal customers, and 2% to public authorities. Loan loss ratio Share of gross loans, advances and guarantees (bp). Loan impairment charges amounted to an income of DKK 10m in Q1-Q3 2026, corresponding to 0bp of gross loans, advances and guarantees. In the same period of 2025, loan impairment charges amounted to an income of DKK 22m. The effect on the income statement is distributed with an expense of DKK 6m relating to banking activities, an income of DKK 11m relating to mortgage activities, and an income of DKK 5m relating to leasing activities. Write-offs amounted to DKK 261m or 4bp against DKK 167m and 3bp in Q1-Q3 2025, respectively. Credit quality DKKbn Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 FY 2025 Loans, advances and guarantees 593.2 587.0 101 593.2 597.8 589.0 590.3 590.3 – stage 1 573.6 562.2 102 573.6 575.9 565.5 565.9 565.9 – stage 2 15.8 19.3 82 15.8 17.7 18.6 19.1 19.1 – stage 3 3.8 5.5 69 3.8 4.2 4.9 5.3 5.3 – purchased or originated credit impaired 0.0 0.0 28 0.0 0.0 0.0 0.0 0.0 Balance of impairment charges 4.4 4.7 94 4.4 4.6 4.6 4.6 4.6 – stage 1 1.1 1.2 92 1.1 1.1 1.1 1.1 1.1 – stage 2 1.2 1.1 109 1.2 1.2 1.1 1.2 1.2 – stage 3 2.1 2.4 88 2.1 2.3 2.4 2.3 2.3 Balance of discounts for acquired assets 0.0 0.1 0 0.0 0.0 0.0 0.0 0.0 Non-performing loans and past due exposures 0.5 0.6 79 0.5 0.5 0.6 0.5 0.5 Loan impairment charges 0.0 0.0 - -0.1 0.0 0.0 0.0 0.0 Write-offs 0.3 0.2 156 0.2 0.1 0.0 0.1 0.2 -9 2 0 0 0 Q1-3 '22 Q1-3 '23 Q1-3 '24 Q1-3 '25 Q1-3 '26 2% Public authorities 41% Personal customers 57% Corporate customers
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19 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Stage distribution Share of loans, advances and guarantees Balance of loan impairment charges and discounts for acquired assets DKKm At the end of Q3 2026, Jyske Bank’s balance of loan impairment charges, discounts for acquired assets and provisions amounted to DKK 4.8bn, equalling 0.8% of loans, advances and guarantees compared to DKK 4.9bn and 0.8%, respectively, at the end of 2025. At the end of Q3 2026, post-model adjustments amount- ed to DKK 1,949m against DKK 1,703m at the end of 2025. The increase reflects elevated geopolitical uncertainty. Total loans, advances and guarantees increased 1% to DKK 593.1bn at the end of Q3 2026 relative to DKK 590.3bn the end of 2025. Lower exposure to public authorities was more than offset by higher exposure to personal customers. The stage-1 proportion of loans, advances and guaran- tees rose to 96.7% at the end of Q3 2026 from 95.9% at the end of 2025. Stage-3 exposures amounted to 0.7% of loans, advances and guarantees which is 0.2 percentage point lower than at the end of 2025. The proportion of loans subject to forbearance measures accounted for 0.3% of loans, advances and guarantees, down from 0.4% at the end of 2025. Loans, advances and guarantees by sector DKKbn/% Loans, advances and guarantees Impairment ratio Q3 2026 Q4 2025 Q3 2026 Q4 2025 Public authorities 9.1 11.2 0.0 0.0 Agriculture, hunting, forestry and fishing 13.2 13.1 0.4 0.4 Manufacturing industry and raw material extraction 15.7 17.9 3.3 3.0 Energy supply 9.4 10.6 0.2 0.3 Construction 3.1 3.4 3.4 2.7 Commerce 13.1 12.7 2.3 2.2 Transport, hotels and restaurants 8.7 7.6 1.3 1.9 Information and communication 0.6 0.6 2.4 2.6 Funding and insurance 64.4 66.0 1.0 1.5 Real property 186.0 185.8 0.4 0.4 Other sectors 28.6 28.9 1.4 1.5 Corporate customers 342.8 346.6 1.0 1.0 Personal customers 241.2 232.5 0.4 0.5 Total 593.1 590.3 0.7 0.8 Stage 1 Stage 2 Stage 3/4 Loan impairment charges (excl. post-model adjustments) Post-model adjustments Discounts for acquired assets Provisions 95.6% 95.4% 95.2% 95.9% 96.7% 3.2% 3.4% 3.7% 3.2% 2.7% 1.2% 1.1% 1.1% 0.9% 0.7% 2022 2023 2024 2025 Q1-3 '26 3,316 3,036 3,141 3,144 2,789 1,425 1,934 1,782 1,703 1,949 621 306 112 46 26 182 220 167 271 300 5,362 5,276 5,035 4,893 4,764 2022 2023 2024 2025 Q1-3 '26 Note: Impairment ratio is excluding provisions for credit commitments and unutilised credit lines as well as discounts for acquired assets
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20 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Capital management Jyske Bank’s objective is a capital ratio of around 20% and a common equi- ty tier 1 (CET1) capital ratio at around 15%. At these levels, Jyske Bank is able to comply with capital requirements with a buffer while at the same time having the required strategic scope. The Group Supervisory Board endeav- ours to distribute an annual dividend in the range of 30% of shareholders’ result supplemented by share buy-backs. Dividend In accordance with the distribution policy, Jyske Bank distributed a div- idend of DKK 25 per share, or DKK 1,538m in connection with the annual general meeting in March 2026. Capital ratio Share of weighted risk exposure (%) Weighted risk exposure DKKbn The weighted risk exposure was up by 2% to DKK 254.1bn at the end of Q3 2026 from DKK 249.3bn at the end of 2025. The increase was driven by higher credit risk due to lending growth. At the end of Q3 2026, Jyske Bank had a capital ratio of 20.9% and a CET1 capital ratio of 15.7% compared to 21.5% and 16.1%, respectively, at the end of 2025. The lower CET1 capital ratio compared with the end of 2025 reflects the share repurchase programme announced in February 2026 of up to DKK 3bn. In addition, the CET1 ratio was impacted by higher weighted risk exposure for credit risk. The positive effect from shareholders' profit was mostly offset by an 84% reservation for expected payouts. CET1 capital Additional tier 1 capital Tier 2 capital Credit risk etc. Market risk Operational risk 15.2 16.9 17.6 16.1 15.7 1.5 1.4 2.1 2.0 1.9 2.8 2.7 3.4 3.4 3.3 19.5 21.0 23.1 21.5 20.9 2022 2023 2024 2025 Q1-3 '26 195.4 197.9 198.9 213.4 219.6 8.4 9.8 9.4 9.2 7.8 17.1 17.8 21.2 26.7 26.7220.9 225.5 229.5 249.3 254.1 2022 2023 2024 2025 Q1-3 '26 Share repurchase programme On 5 February 2026, Jyske Bank’s largest share repurchase programme to date of up to DKK 3.0bn was launched. The pro- gramme will run until 29 January 2027 at the latest. As of the trade date on 30 September 2026, a total of 2,105,039 shares had been repurchased for a total consideration of DKK 2,013m. On 30 January 2026, Jyske Bank con- cluded a share repurchase programme worth DKK 2.25bn after having bought back 3,309,528 shares at an average purchase price of DKK 679.85, equiv- alent to 5.38% of the share capital, cf. Corporate Announcement No. 9/2026. The repurchased shares were canceled following the decision at the extraordi- nary general meeting on April 20, 2026.
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21 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements The total capital requirement consists of a Pillar I requirement of 8% of the weighted risk exposure, supplemented by a capital add- on for above-normal risk under Pillar II and applicable capital buffers. At the end of Q3 2026, Jyske Bank's individual solvency requirement amounted to 10.9% of the weighted risk exposure compared to 10.7% at the end of 2025. In addition, capital buffers totalled 7.3% of the risk exposure amount, comprising a SIFI buffer of 1.5%, a capital conservation buffer of 2.5%, a countercyclical buffer of 2.5% and a systemic buffer for commercial real es- tate exposures of 0.8%. Consequently, the total capital requirement amount - ed to 18.1%, unchanged compared with year-end 2025. Capital requirement Capital requirement % Capital ratio CET1 capital ratio Q1-Q3 2026 Q4 2025 Q1-Q3 2026 Q4 2025 Pillar I 8.0 8.0 4.5 4.5 Pillar II 2.9 2.7 1.6 1.5 SIFI 1.5 1.5 1.5 1.5 Capital conservation buffer 2.5 2.5 2.5 2.5 Countercyclical buffer 2.5 2.4 2.5 2.4 Systemic buffer 0.8 0.9 0.8 0.9 Overall capital requirement 18.1 18.1 13.4 13.4 Excess capital 2.8 3.4 2.3 2.7 CET1 capital ratio CET1 capital requirement 15.7% 13.4 % Part of the total capital ratio at 20.9% Part of the total capital require- ment of 18.1% The SIFI requirement, the capital con- servation buffer and the countercycli- cal buffer have all been fully phased in. Based on the comparison of the CET1 capital ratio with the CET1 capital requirement, excess capital amounted to 2.3% of the weighted risk exposure, equivalent to DKK 5.8bn, compared with 2.7% and DKK 6.6bn, respectively, at the end of 2025.
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22 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Liquidity management Funding profile Call-/reset date profile of outstanding bonds DKKbn Senior debt Non-preferred senior debt Tier 2 AT1 Jyske Bank's largest source of funding is covered bonds and mortgage bonds, which amounted to DKK 367bn, corre- sponding to 48% of the balance sheet at the end of Q3 2026. The second-largest source of funding was customer deposits of DKK 202bn, corresponding to 27% of the balance sheet, of which a large proportion consists of deposits from small and medium-sized enterprises as well as personal customers. The other sources of funding include debt and capital issuances as well as equity. Jyske Bank’s liquidity position is considerably above statutory requirements and internal targets. The LCR is based on the Group’s short-term liquidity buffer at DKK 140.6bn at the end of Q3 2026, consisting of assets such as central bank place- ments and highly liquid securities. The LCR was 225% of the statutory requirement compared to 201% at the end of 2025. The LCR buffer at the end of Q3 2026 is shown below. The Net stable funding ratio (NSFR) measures the Group’s long-term liquidity position. At the end of Q3 2026, stable long-term funding amounted to DKK 252.1bn, equivalent to 157% of the statutory requirement against 151% at the end of 2025. Part of the Group’s long-term stable funding consists of debt and capital issuances. At the end of Q3 2026, the Group had issued tier 2 and AT1 capital instruments worth DKK 8.2bn and DKK 4.9bn, respectively as well as unsecured senior debt to- talling DKK 38.5bn. The call-/reset date profile of these bonds calculated at the end of Q3 2026 appears below. The senior debt includes the outstanding volume of MREL-el- igible instruments and totalled DKK 32.5bn at the end of Q3 2026, distributed by DKK 7.5bn and DKK 25.0bn of preferred senior debt and non-preferred senior debt, respectively, with a term to maturity of more than 12 months. Jyske Bank has announced its intention to call EUR 500m of non-preferred senior debt on 16 November 2026, as the bond will no longer qualify as MREL-eligible debt after that date. In 2026, Jyske Bank anticipates a requirement of an outstand- ing volume of MREL-eligible instruments (inclusive of an in- ternal buffer for statutory requirements) in an amount of DKK 32bn-34bn, of which about DKK 7bn in the form of preferred senior debt and DKK 25bn-27bn in the form of non-preferred senior debt. During 2027, Jyske Bank expects to issue EUR 750m-1bn of non-preferred senior debt. Liquidity Coverage Ratio (LCR) DKKbn % Level 1a assets 72.1 51 Level 1b assets 66.9 48 Level 2a + 2b assets 1.6 1 Total 140.6 100 Net stable funding ratio Liquidity coverage ratio 157% 225 % Stable funding in the form of weight- ed deposits, equity and bond issu- ances complies with the statutory requirement of 100% funding of the weighted assets The amount of liquid assets to with- stand a 30-day severe liquidity stress scenario complies with the statutory requirement of 100% 0 2 4 6 8 10 12 14 2026 2027 2028 2029 2030 2031 ≥2032
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23 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Jyske Bank is rated by Standard & Poor’s (S&P). Jyske Realkredit has the same credit rating as Jyske Bank. Credit ratingIssuance activity S&P issuer rating MSCI ESG rating A+ AA Stable outlook CCC to AAA S&P credit rating Jyske Bank issuer rating Rating Outlook Stand Alone Credit Profile (SACP) A- Stable Issuer rating (Issuer Credit Rating) A+ Stable Short-term unsecured senior debt (preferred senior) A-1 Stable Long-term unsecured senior debt (preferred senior) A+ Stable Long-term non-preferred senior debt BBB+ Stable (non-preferred senior) Tier 2 capital BBB Stable Additional Tier 1 (AT1) capital BB+ Stable Jyske Realkredit bond issuances Capital centre E, covered bonds AAA Capital centre B, mortgage bonds AAA Sustainability ratings ESG rating agencies Rating MSCI (CCC to AAA) AA Sustainalytics (Negl. to Severe Risk) Low risk ISS ESG (D- to A+) C Prime CDP (D- to A) B Jyske Bank has chosen to cooperate with selected ESG raters, whose ratings are listed in the table above. Bond issuances in 2026 Maturity Equivalent interest rate EUR 500m green non-preferred senior debt 30.06.2032 3M CIBOR (value date 30.04.2026) (call 2031) +68 bp The Jyske Bank Group has issued the bond stated above on the international capital markets in the first three quarters of 2026.
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24 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Jyske Bank A/S meets all the benchmarks of the supervisory diamond. Supervisory diamond Risk and capital management 2025 Jyske Realkredit A/S meets all the benchmarks of the supervisory diamond. The supervisory diamond defines a number of special risk areas including specified limits that financial institutions should generally not exceed. Additional information about Jyske Bank’s internal risk and capital management as well as the regulatory capital requirements is available in the risk report: Risk and Capital Management 2025, available at jyskebank.com/investorrelations/ capitalstructure. The supervisory diamond for Jyske Bank A/S % Q3 2026 Q4 2025 Sum of large exposures <175% of CET1 capital 110 105 Increase in loans <20% annually 1 -2 Exposures to property administration and property transa- ctions <25% of total loans 10 9 Liquidity benchmark >100% 194 168 The supervisory diamond for Jyske Realkredit A/S % Q3 2026 Q4 2025 Concentration risk <100% 41.3 46.8 Increase in loans <15% annually in the segment: Owner-occupied homes and vacation homes 6.5 4.7 Residential rental property 2.2 4.3 Other sectors -0.8 0.5 Borrower's interest-rate risk <25% Residential property 22.1 19.2 Instalment-free schemes <10% Owner-occupied homes and vacation homes 3.4 3.6 Loans with frequent interest-rate fixing: Refinancing (annually) <25% 18.2 22.1 Refinancing (quarterly) <12.5% 5.5 8.8
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25 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Business areas Pre-tax profit in Q1-Q3 2026 distributed on areas The business areas reflect all activities in banking, mort- gage financing and leasing. Complementary business areas Banking activities cover advisory services relating to financial solutions targeting personal customers, private banking customers as well as corpo- rate customers and also trading and investment activities targeting large corporate customers and institu- tional customers, including trading in fixed-income products, currencies, equities, commodities and derivatives. The strategic balance sheet and risk management as well as the investment portfolio earnings of Jyske Bank are also allocated to banking activities. Mortgage activities comprise finan- cial solutions for the financing of real property carried out by Jyske Realkredit. Mortgage activities are aimed mainly at Danish personal customers, corporate customers and subsidised rental housing. Leasing activities cover financial solutions in the form of leasing and financing within car financing as well as leasing and financing of operating equipment for the corporate sector. The activities primarily target Danish personal and corporate customers as well as dealer cooperation schemes and partnerships. Banking activities Mortgage activities Leasing activities 4% Leasing activities 48% Mortgage activities 48% Banking activities
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26 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Pre-tax profit amounted to DKK 2,359m in Q1-Q3 2026, compared with DKK 2,660m in Q1-Q3 2025. The decline was primarily driven by lower value adjustments and dividends, partly offset by higher net fee and com- mission income and continued growth in business volumes. Banking activities Pre-tax profit DKK 2,359m Q1-Q3 2026 Summary of income statement DKKm Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 FY 2025 Net interest income 3,729 3,730 100 1,297 1,232 1,200 1,255 4,985 Net fee and commission income 2,177 1,981 110 768 682 727 927 2,908 Value adjustments and dividends 578 968 60 161 412 5 429 1,397 Other income 54 58 93 20 15 19 29 87 Core income 6,538 6,737 97 2,246 2,341 1,951 2,640 9,377 Core expenses 4,207 4,226 100 1,434 1,413 1,360 1,678 5,904 Core profit before loan impairment charges 2,331 2,511 93 812 928 591 962 3,473 Loan impairment charges 6 -22 - -54 9 51 16 -6 Core profit 2,325 2,533 92 866 919 540 946 3,479 Investment portfolio earnings 34 127 27 6 28 0 69 196 Pre-tax profit 2,359 2,660 89 872 947 540 1,015 3,675 Summary of balance sheet, end of period DKKbn Loans 173.3 174.7 99 173.3 175.7 174.5 178.0 178.0 – of which bank loans & advances 120.7 118.1 102 120.7 119.6 118.3 119.1 119.1 – of which repo loans 52.6 56.6 93 52.6 56.1 56.2 58.9 58.9 Total assets 314.4 306.2 103 314.4 312.1 312.8 335.1 335.1 Deposits 211.5 201.1 105 211.5 207.5 209.7 207.9 207.9 – of which bank deposits 202.2 190.3 106 202.2 201.9 199.5 196.3 196.3 – of which repo and triparty deposits 9.3 10.8 86 9.3 5.6 10.2 11.6 11.6 Issued bonds 49.6 44.0 113 49.6 42.7 41.8 59.8 59.8
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27 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 1 2 3 Net interest income Unchanged year-on-year, primarily reflecting lower returns on excess liquidity due to the decreasing level of interest rates during 2025. This effect was offset by higher business volumes as well as increasing interest rates during 2026. Net fee and commission income Rose by 10% compared to Q1-Q3 2025. Excluding internal commissions received from mortgage activities, net fee and commission income increased by 9%, driven by asset management as well as pension and insurance commissions. Value adjustments and dividends Value adjustments and dividends declined from a record-high level in Q1-Q3 2025, which was supported by significant spread tightening of Danish mortgage bonds. Banking activities Pre-tax profit (DKKm) 2,660 2,359 Q1-3 '25 Net interest income Net fees and commissions Value adjustments and dividends Other income Core expenses (incl. one-offs) Loan impairment charges Investment portfolio Q1-3 '26 321
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28 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Mortgage activities Summary of income statement DKKm Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 FY 2025 Administration margin income, etc.* 1,999 2,003 100 663 666 670 675 2,678 Other net interest income 497 546 91 191 158 148 162 708 Net fee and commission income 72 88 82 13 23 36 50 138 Value adjustments and dividends 115 114 101 17 77 21 52 166 Core income 2,683 2,752 97 884 924 875 939 3,691 Core expenses 352 339 104 118 121 113 117 456 Core profit before loan impairment charges 2,331 2,413 97 766 803 762 822 3,235 Loan impairment charges -11 14 - 11 3 -25 0 14 Pre-tax profit 2,342 2,399 98 755 800 787 822 3,221 Summary of balance sheet, end of period DKKbn Mortgage loans, nominal value 406.8 392.7 104 406.8 402.2 399.4 395.5 395.5 Mortgage loans, fair value 382.8 375.9 102 382.8 384.3 378.7 377.3 377.3 Total assets 418.4 411.7 102 418.4 416.1 414.7 414.5 414.5 Issued bonds 381.1 378.1 101 381.1 380.8 379.2 380.5 380.5 *) Administration margin income, etc. covers administration margin income as well as interest rate margin on jointly funded loans Pre-tax profit was close to unchanged at DKK 2,342m in Q1-Q3 2026 com- pared with DKK 2,399m in Q1-Q3 2025. Core income was supported by higher mortgage lending, more than offset by lower administration margins and lower returns on excess liquidity. Nominal mortgage loans rose by 4% year-on-year driven by personal cus- tomers. Pre-tax profit DKK 2,342m Q1-Q3 2026
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29 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 1 2 3 Administration margin income, etc. Administration margin income, etc. was close to unchanged at DKK 1,999m in Q1-Q3 2026 compared to Q1-Q3 2025. Higher nominal mortgage lending for both personal and corporate customers was offset by lower margins. Other net interest income Other net interest income declined to DKK 497m from DKK 546m. The decrease was primarily driven by lower interest income from Jyske Realkredit’s bond portfolio and central bank placements, reflecting the lower level of average short -term interest rates. Net fee and commission income Net fee and commission income decreased to DKK 72m from DKK 88m. Exclusive of internal distribution fee paid, net fee and commission income increased to DKK 338m from DKK 311m due to higher activity levels. Mortgage activities Pre-tax profit (DKKm) 2,399 2,342 Q1-3 '25 Administration margin Other net interest income Net fees and commissions Value adjustments Core expenses (incl. one-off items) Loan impairment charges Q1-3 '26 321
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30 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Leasing activities Summary of income statement DKKm Q1-Q3 2026 Q1-Q3 2025 Index 26/25 Q3 2026 Q2 2026 Q1 2026 Q4 2025 FY 2025 Net interest income 361 350 103 119 121 121 121 471 Net fee and commission income -18 4 - -8 -8 -2 -11 -7 Value adjustments and dividends 8 9 89 -1 10 -1 -1 8 Other income 8 8 100 1 1 6 9 17 Income from operating lease, etc. (net) 86 82 105 35 18 33 15 97 Core income 445 453 98 146 142 157 133 586 Core expenses 174 167 104 53 59 62 64 231 Core profit before loan impairment charges 271 286 95 93 83 95 69 355 Loan impairment charges -5 -14 - -7 -1 3 8 -6 Pre-tax profit 276 300 92 100 84 92 61 361 Summary of balance sheet, end of period DKKbn Lending and finance leasing 22.4 22.3 101 22.4 22.2 21.8 21.8 21.8 Operating lease and consignment 4.3 3.8 113 4.3 4.2 4.6 4.5 4.5 Total assets 27.5 27.2 101 27.5 27.1 27.1 27.4 27.4 Deposits 0.2 0.2 99 0.2 0.2 0.2 0.2 0.2 Pre-tax profit amounted to DKK 276m in Q1-Q3 2026 compared with DKK 300m in Q1-Q3 2025. Higher net interest income was more than offset by lower net fee and com- mission income as well as increased core expenses. Total assets rose to DKK 27.5bn com- pared with DKK 27.4bn at the end of 2025 driven by higher assets for lending and finance leasing. Pre-tax profit DKK 276m Q1-Q3 2026
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31 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 1 2 3 Net interest income Net interest income rose by 3% to DKK 361m in Q1-Q3 2026 compared with Q1-Q3 2025. The increase partly reflected a higher level of fees paid following a revised collaboration agreement, as well as lower internal funding costs. Net fee and commission income The decline to DKK -18m in Q1-Q3 2026 from DKK 4m in Q1-Q3 2025 was due to higher fees paid as a result of the revised collaboration agreement. The net effect of the change is negligible. Income from operating lease, etc. (net) Increased to DKK 86m in Q1-Q3 2026 from DKK 82m in Q1-Q3 2025 due to a lower level of impairment charges. Leasing activities Pre-tax profit (DKKm) 300 276 Q1-3 '25 Net interest income Net fees and commissions Value adjustments Other income Income, operating lease, etc. (net) Core expenses (incl. one-offs) Loan impairment charges Q1-3 '26 321
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32 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Other information Events after the end of the period No events have occurred after 30 September 2026 and prior to the publication of the Interim Financial Report that have a material effect on the Group’s financial position. On 19 October 2026, the acquisition of FP Kapital A/S (For- muepleje) received regulatory approval from the Danish Com- petition and Consumer Authority, cf. Corporate Announce- ment no. 61/2026. Additional information For further information, please visit jyskebank.dk, where an interview with Lars Mørch, CEO and Member of the Group Executive Board, as well as detailed financial information, Jyske Bank’s Annual Report 2025 and Risk and Capital Management 2025 are available. These publications provide further insight into the Group’s risk profile, capital manage- ment and key regulatory matters, including the principal risks and uncertainties affecting Jyske Bank. Further information on Jyske Realkredit, including the Annual Report 2025, is available at jyskerealkredit.dk. Jyske Bank anticipates releasing financial statements on the following dates in 2027:. Financial calendar 2027 2 February → 5 May → 16 July → 27 October → Annual Report 2026 Interim Financial Report Q1 2027 Interim Financial Report H1 2027 Interim Financial Report Q1-Q3 2027
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33 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Jyske Bank Group Financial Statements
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34 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Jyske Bank Group Income and comprehensive income statements Balance sheet at 30 September 2026 Statement of changes in equity Capital statement Cashflow statement Notes
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35 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Income statement DKKm Note Q1-Q3 2026 Q1-Q3 2025 Q3 2026 Q3 2025 Interest income under the effective interest method 5 6,119 6,555 2,165 1,976 Other interest income 5 9,305 9,331 3,179 3,065 Interest expenses 6 8,896 9,321 3,089 2,891 Net interest income 6,528 6,565 2,255 2,150 Fees and commission income 7 2,725 2,497 950 851 Fees and commission expenses 7 495 425 177 163 Net interest and fee income 8,758 8,637 3,028 2,838 Value adjustments 8 669 1,101 183 585 Other income 722 765 211 213 Employee and administrative expenses etc. 4,609 4,599 1,563 1,483 Amortisation, depreciation and impairment charges 573 567 181 199 Loan impairment charges 9 -10 -22 -49 25 Pre-tax profit 4,977 5,359 1,727 1,929 Tax 1,297 1,367 449 474 Profit for the period 3,680 3,992 1,278 1,455 Breakdown of the profit for the period Jyske Bank A/S shareholders 3,482 3,794 1,211 1,388 Holders of additional tier 1 capital 198 198 67 67 Total 3,680 3,992 1,278 1,455 Earnings per share for the period Earnings per share, DKK 60.80 62.53 21.45 23.18 Earnings per share for the period, DKK, diluted 60.80 62.53 21.45 23.18 Statement of Comprehensive Income DKKm Q1-Q3 2026 Q1-Q3 2025 Q3 2026 Q3 2025 Profit for the period 3,680 3,992 1,278 1,455 Items that cannot be recycled to the income statement 0 0 0 0 Other comprehensive income after tax 3,680 3,992 1,278 1,455 Breakdown of the period's comprehensive income Jyske Bank A/S shareholders 3,482 3,794 1,211 1,388 Holders of additional tier 1 capital 198 198 67 67 Total 3,680 3,992 1,278 1,455
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36 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Balance Sheet DKKm Assets Note 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Cash balance and demand deposits with central banks 29,808 44,782 20,389 Due from credit institutions and central banks 9,249 7,201 6,221 Loans and advances at fair value 10, 11 384,892 379,652 377,915 Loans and advances at amortised cost 12 193,558 197,516 195,000 Bonds at fair value 76,742 79,030 79,521 Bonds at amortised cost 31,242 33,238 32,948 Shares, etc. 2,621 2,447 2,261 Intangible assets 3,215 3,261 3,278 Property, plant and equipment 4,889 5,222 4,487 Deferred tax assets 0 0 17 Current tax assets 93 405 134 Assets held for sale 170 185 210 Other assets 13 23,799 24,117 22,741 Total assets 760,278 777,056 745,122 Equity and liabilities 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Liabilities Due to credit institutions and central banks 21,334 30,899 26,263 Deposits 14 211,716 208,109 201,336 Issued bonds at fair value 15 366,773 374,850 368,876 Issued bonds at amortised cost 63,941 65,400 53,219 Other liabilities 16 34,701 32,648 31,429 Provisions 1,501 1,468 970 Subordinated debt 17 8,241 11,370 11,400 Liabilities, total 708,207 724,744 693,493 Equity Share capital 582 615 615 Revaluation reserve 196 196 183 Retained profit 46,395 45,029 45,940 Proposed dividend 0 1,538 0 Jyske Bank A/S shareholders 47,173 47,378 46,738 Holders of additional tier 1 capital 4,898 4,934 4,891 Total equity 52,071 52,312 51,629 Total equity and liabilities 760,278 777,056 745,122
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37 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements *Additional tier 1 capital (AT1) has no maturity. Payment of interest and repayment of principal are voluntary. Therefore AT1 is recognised as equity. In September 2017, Jyske Bank issued AT1 amounting to EUR 150m with the possibility of early redemption in September 2027 at the earliest. The issue has a coupon of 4.75% until September 2027. In May 2021, Jyske Bank issued AT1 amounting to EUR 200m with the possibility of early redemption from 4 December 2028 at the earliest. The interest rate applicable to the issue until June 2029 is 3.625%. In February 2024, Jyske Bank issued AT1 amounting to EUR 300m with the possibility of early redemption from 13 August 2030 at the earliest. The interest rate applicable to the issue is 7%. It applies to all AT1 issues that if the common equity tier 1 capital ratio of Jyske Bank A/S or the Jyske Bank Group falls below 7%, the loans will be written down. Statement of Changes in Equity DKKm 30 Sep. 2026 30 Sep. 2025 Share capital Revaluation reserve Retained profit Proposed dividend Jyske Bank A/S sharehol- ders Additional tier 1 capital* Total equity Share capital Revaluation reserve Retained profit Proposed dividend Jyske Bank A/S sharehol- ders Additional tier 1 capital* Total equity Equity at 1 January 615 196 45,029 1,538 47,378 4,934 52,312 643 183 43,295 1,543 45,664 4,924 50,588 Profit for the period 0 0 3,482 0 3,482 198 3,680 0 0 3,794 0 3,794 198 3,992 Other comprehensive income after tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Comprehensive income for the period 0 0 3,482 0 3,482 198 3,680 0 0 3,794 0 3,794 198 3,992 Interest paid on additional tier 1 capital 0 0 0 0 0 -237 -237 0 0 0 0 0 -234 -234 Currency translation adjustment 0 0 -3 0 -3 3 0 0 0 -3 0 -3 3 0 Dividends paid 0 0 0 -1,538 -1,538 0 -1,538 0 0 0 -1,543 -1,543 0 -1,543 Dividends, own shares 0 0 93 0 93 0 93 0 0 68 0 68 0 68 Capital reduction -33 0 33 0 0 0 0 -28 0 28 0 0 0 0 Acquisition of own shares 0 0 -4,426 0 -4,426 0 -4,426 0 0 -2,476 0 -2,476 0 -2,476 Sale of own shares 0 0 2,187 0 2,187 0 2,187 0 0 1,234 0 1,234 0 1,234 Transactions with owners -33 0 -2,116 -1,538 -3,687 -234 -3,921 -28 0 -1,149 -1,543 -2,720 -231 -2,951 Equity at 30 September 582 196 46,395 0 47,173 4,898 52,071 615 183 45,940 0 46,738 4,891 51,629
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38 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements The capital statement was calculated according to Regulation (EU) No. 575/2013 of 26 June 2013 of the European Parliament and of the Council (CRR) with subsequent amendments. For the determination of the individual solvency requirement, please see the report Risk and Capital Management 2025 and jyskebank.com/investorrelations/capitalstructure, which shows Jyske Bank’s quarterly determination of the individual solvency requirement. *Intangible assets consist of goodwill and customer relations as described in note 28 in consolidated financial statement of the Annual Report 2025. Capital Statement DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Shareholders' equity 47,173 47,378 46,738 Share buyback plan, unutilised capacity -987 -240 -982 Proposed/expected dividends and share buyback -2,925 -3,700 -2,693 Intangible assets -3,215 -3,261 -3,278 Deferred tax on intangible assets 418 334 0 Prudent valuation -108 -108 -107 Insufficient coverage of non-performing loans and guarantees -434 -297 -278 Other deductions -67 -54 -95 Common equity tier 1 capital 39,855 40,052 39,305 Additional tier 1 capital after reduction 4,889 4,926 4,884 Core capital 44,744 44,978 44,189 Subordinated loan capital after reduction 8,299 8,605 11,377 Capital base 53,043 53,583 55,566 Weighted risk exposure involving credit risk, etc. 219,594 213,435 207,810 Weighted risk exposure involving market risk 7,753 9,190 9,483 Weighted risk exposure involving operational risk 26,705 26,707 24,619 Total weighted risk exposure 254,052 249,332 241,912 Capital requirement, Pillar I 20,324 19,946 19,353 Capital ratio (%) 20.9 21.5 23.0 Tier 1 capital ratio (%) 17.6 18.0 18.3 Common equity tier 1 capital ratio (%) 15.7 16.1 16.2
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39 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Summary of Cash Flow Statement DKKm Cash flows from operating activities Q1-Q3 2026 Q1-Q3 2025 Profit for the period 3,680 3,992 Adjustment for non-cash operating items, etc. -10,303 -26,890 Cash flows from operating activities -6,623 -22,898 Cash flows from investment activities Acquisition and sale of property, plant and equipment -184 -339 Dividends acquired 76 135 Cash flows from investment activities -108 -204 Cash flows from financing activities Interest paid on additional tier 1 capital -237 -234 Dividends paid -1,538 -1,543 Dividends received on own shares 93 68 Acquisition of own shares -4,426 -2,476 Sale of own shares 2,187 1,234 Issuance of subordinated debt 0 3,732 Redemption of subordinated debt -2,827 -11 Repayment on lease commitment 50 65 Cash flows from financing activities -6,698 835 Cash flow for period -13,429 -22,267 Changes in cash and cash equivalents Q1-Q3 2026 Q1-Q3 2025 Cash and cash equivalents, beginning of period 51,983 48,355 Foreign currency translation adjustment of cash and cash equivalents 503 522 Cash flow for the period, total -13,429 -22,267 Cash and cash equivalents, end of period 39,057 26,610 Cash and cash equivalents, end of period, comprise: Cash balance and demand deposits with central banks 29,808 20,389 Due in less than three months from credit institutions and central banks 9,249 6,221 Cash and cash equivalents, end of period 39,057 26,610
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40 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Table of contents, note section No. Note Page 1 Accounting policies 41 2 Material accounting estimates 41 3 Key figures and ratios 42 4 Segmental financial statements 43 5 Interest income 45 6 Interest expenses 45 7 Fees and commission income 45 8 Value adjustments 45 9 Loan impairment charges and provisions for guarantees 46 10 Loans at fair value 53 11 Loans and advances at fair value by property category 53 12 Loans and advances at amortised cost and guarantees by sector 53 13 Other assets 53 14 Deposits 54 15 Issued bonds at fair value 54 16 Other liabilities 54 17 Subordinated debt 54 18 Contingent liabilities 55 19 Shareholders 55 20 Related parties 55 21 Bonds provided as security 55 22 Fair value of financial assets and liabilities 56 23 Fair value hierarchy 57
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41 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 1 Accounting policies The Interim Financial Report for the period 1 January to 30 September 2026 for Jyske Bank Group was prepared in accordance with IAS 34, Presentation of Interim Financial Reporting as adopted by the EU. Furthermore, the Interim Financial Report was prepared in accordance with the additional Danish disclosure requirements for the interim reports of listed financial institutions. Due to the application of IAS 34, the interim financial statements contain less extensive disclosures than an annual report, while the recognition and measurement principles applied are consistent with International Financial Reporting Standards © (IFRS). With effect as of 1 January 2026, Jyske Bank has implemented the following new or amended standards and interpretation: Amendments to: • Amendments to IFRS 9 and IFRS 7 These changes did not have an effect on Jyske Bank’s financial reporting. Information on Reclassification: In the determination of core profit, dividends received from equity investments were previously presented in Other income. From 31 March 2026, such dividends are reclassified to Value adjustments. The change has been implemented to achieve greater symmetry, as dividends and fair value adjustments are then presented together. The reclassification has no impact on the period’s core profit or equity. The changes affect the Financial review and Note 4 “Segment financial statements” , and comparative figures have been restated accordingly. Except from the above, accounting policies remain unchanged compared with the Annual Report for 2025, including the full description of accounting policies. 2 Material accounting estimates Post-model adjustments Measurement of the carrying value of certain assets and liabilities requires the management’s estimate of the influence of future events on the value of such assets and liabilities. Estimates of material importance to the financial reporting are, among other things, based on the determination of loan impairment charges and provisions for guarantees, the fair value of unlisted financial instruments, provisions made and acquisitions, cf. the detailed statement in Note 61 in the Annual Report 2025. The estimates are based on assumptions which manage- ment finds reasonable, but which are inherently uncertain. Besides, the Group is subject to risks and uncertainties which may cause results to differ from those estimates. Material accounting estimates were the same in connection with the preparation of the Interim Financial Report as in connection with the preparation of the Annual Report for 2025. In addition to the model-based impairment calculations, Management assesses whether the calculated impairment charges appropriately reflect current and expected future economic developments. Where circumstances, expectations or risks are not fully captured by the models or underlying data, a post-model adjustment is added. The adjustment is based on specific observations and Management’s estimate of expected risks in the relevant sub-portfolios, including macroeconomic and process-related risks for corporate and personal customers, as presented in the table below. The purpose is to ensure that impairment charges reflect risks not sufficiently recognised in the model output. The basis for the adjustment must be well-founded on realistic circumstances and expectations and supported by a coherent link between the identified circumstances, the expected impact on credit risk and the expected loss. The determination is supported by data and based on the specific portfolio, but may include estimates where the risk cannot be directly observed in the model-based calculations. Management’s estimates are reassessed quarterly based on updated controls and analyses to ensure that the post-model adjustments reflect the most recent observations and expectations. Post-model adjustments DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Macroeconomic risks Corporate customers 1,170 1,035 1,124 Personal customers 190 190 231 Macroeconomic risks, total 1,360 1,225 1,355 Process-related risks Corporate customers 371 361 413 Personal customers 218 117 113 Process-related risks, total 589 478 526 Post-model adjustments, total 1,949 1,703 1,881
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42 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 3 Key figures and ratios Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Pre-tax profit, per share (DKK)* 29.4 30.8 23.3 31.1 31.1 Earnings per share for the period (DKK)* 21.4 22.5 16.9 23.0 23.2 Earnings per share for the period (diluted) (DKK)* 21.4 22.5 16.9 23.0 23.2 Core profit per share (DKK)* 29.3 30.3 23.3 29.9 30.2 Share price at end of period (DKK) 1,097 945 880 873 708 Book value per share (DKK)* 841 824 801 810 786 Price/book value per share (DKK)* 1.3 1.1 1.1 1.1 0.9 Outstanding shares in circulation (‘000) 56,114 56,846 57,640 58,490 59,445 Average number of shares in circulation ('000) 56,464 57,244 58,090 58,934 59,885 Capital ratio (%) 20.9 21.0 20.9 21.5 23.0 Tier 1 capital ratio (%) 17.6 17.6 17.5 18.0 18.3 Common equity tier 1 capital ratio (%) 15.7 15.7 15.6 16.1 16.2 Pre-tax profit as a percentage of average equity* 3.5 3.8 2.9 3.9 4.0 Profit for the period as a pct. of average equity* 2.6 2.8 2.1 2.9 3.0 Return on tangible equity 2.8 3.0 2.3 3.1 3.2 Income/cost ratio incl. loan impairment charges (%) 2.0 2.0 1.8 1.9 2.1 Interest rate risk (%) 2.9 2.9 2.7 2.3 2.5 Currency risk (%) 0.0 0.0 0.0 0.0 0.0 Accumulated impairment ratio (%) 0.8 0.8 0.8 0.8 0.8 Impairment ratio for the period (%) 0.0 0.0 0.0 0.0 0.0 Number of full-time employees at end-period 3,885 3,845 3,845 3,817 3,872 Average number of full-time employees in the period 3,865 3,845 3,831 3,845 3,872 Definitions The financial ratios are based on the definitions and guidelines laid down by the Danish Financial Supervisory Authority as stated in note 62 in consolidated financial statement the of Annual Report 2025. The definitions below reference to the additional financial ratios and key figures on page 8: ’Earnings per share’ , ’Diluted earnings per share’ , ’Return on average equity before tax’ , ’Return on average equity’ and ’Return on tangible equity’ are calculated as if the Additional Tier 1 Capital (AT1) is treated as a liability in the financial statements. In the nu- merator, the result is adjusted for interest expenses on AT1 amoun- ting to DKK 198m (Q3 2025: DKK 198m), and the denominator is calculated as equity excluding AT1 amounting to DKK 4,898m (Q3 2025: DKK 4,891m). * Financial ratios are calculated as if additional tier 1 capital (AT1) is recognised as a liability. ’Cost as a percentage of income’ is calculated as Core expenses divided by Core income. ’Book value per share’ and ’Price/book value per share’ are calculated as if the AT1 is treated as a liability in the financial statements. Book value is calculated excluding AT1 amounting to DKK 4,898m (Q3 2025: DKK 4,891m).
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43 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements *The relationship between income statement items under Group key financial data and the income statement on page 35 is shown on the next page. 4 Segmental financial statements DKKm Q1-Q3 2026 Q1-Q3 2025 Banking activities Mortgage activities Leasing activities Jyske Bank Group* Banking activities Mortgage activities Leasing activities Jyske Bank Group* Net interest income 3,729 2,496 361 6,586 3,730 2,549 350 6,629 Net fee and commission income 2,177 72 -18 2,231 1,981 88 4 2,073 Value adjustments and dividends** 578 115 8 701 968 114 9 1,091 Other income** 54 0 8 62 58 1 8 67 Income from operating lease, etc. (net) 0 0 86 86 0 0 82 82 Core income 6,538 2,683 445 9,666 6,737 2,752 453 9,942 Employee and administrative expenses etc. 4,043 353 174 4,570 4,069 339 167 4,575 Amortisation, depreciation and impairment charges 164 -1 0 163 157 0 0 157 Core profit before loan impairment charges 2,331 2,331 271 4,933 2,511 2,413 286 5,210 Loan impairment charges 6 -11 -5 -10 -22 14 -14 -22 Core profit 2,325 2,342 276 4,943 2,533 2,399 300 5,232 Investment portfolio earnings 34 0 0 34 127 0 0 127 Pre-tax profit 2,359 2,342 276 4,977 2,660 2,399 300 5,359 Tax 614 610 73 1,297 664 625 78 1,367 Profit of the period 1,745 1,732 203 3,680 1,996 1,774 222 3,992 Loans and advances 173,269 382,761 22,420 578,450 174,717 375,944 22,254 572,915 - of which mortgage loans 0 382,761 0 382,761 0 375,944 0 375,944 - of which bank loans 120,711 0 22,420 143,131 118,153 0 22,254 140,407 - of which repo loans 52,558 0 0 52,558 56,564 0 0 56,564 Total assets 314,402 418,401 27,475 760,278 306,237 411,713 27,172 745,122 Deposits 211,476 0 240 211,716 201,093 0 243 201,336 - of which bank deposits 202,177 0 240 202,417 190,295 0 243 190,538 - of which repo and triparty deposits 9,299 0 0 9,299 10,798 0 0 10,798 Issued bonds 49,613 381,101 0 430,714 43,993 378,102 0 422,095 **Dividends received from equity investments were previously presented in Other income. From 31 March 2026, such dividends are reclassified to Value adjustments. The change has been implemented to achieve greater symmetry, as dividends and fair value adjustments are then presented together. The reclassification has no impact on the period’s core profit or equity.
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44 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Breakdown of profit for the period DKKm Q1-Q3 2026 Q1-Q3 2025 Core profit Inv. portfolio earnings Reclas- sification Total Core profit Inv. portfolio earnings Reclas- sification Total Net interest income 6,586 9 -67 6,528 6,629 -27 -37 6,565 Net fee and commission income 2,231 -1 0 2,230 2,073 -1 0 2,072 Value adjustments 701 53 -85 669 1,091 179 -169 1,101 Other income 62 0 88 150 67 0 135 202 Income from operating lease, etc. 86 0 486 572 82 0 481 563 Income 9,666 61 422 10,149 9,942 151 410 10,503 Expenses 4,733 27 422 5,182 4,732 24 410 5,166 Profit before loan impairment charges 4,933 34 0 4,967 5,210 127 0 5,337 Loan impairment charges -10 0 0 -10 -22 0 0 -22 Pre-tax profit 4,943 34 0 4,977 5,232 127 0 5,359 4 Segmental financial statements, cont. Alternative performance targets The alternative performance targets applied in the management’s review constitute valuable information for readers of financial statements as they provide a more uniform basis for comparison of accounting periods. No adjusting entries are made, and therefore the net profit or loss for the period will be the same in the alternative performance targets of the management’s review and in the IFRS financi- al statements. Core profit is defined as the pre-tax profit exclusive of investment portfolio earnings. Hence, earnings from customers are expressed better than in the IFRS financial statements. Investment portfolio earnings are defined as the return on the Group’s portfolio of shares, bonds, derivatives and equity investments, yet exclusive of the liquidity buffer and certain strategic equity investments. Investment portfolio earnings are calculated after expenses for funding and attributable costs. The table on the previous page shows the relationships from the income statement items in the Jyske Bank Group’s key figures on page 7 to the income statement items in the IFRS financial statements on page 35. The reclassification includes the following items: • Expens es of DKK 9m (Q1-Q3 2025: Expenses of DKK 34m) due to value adjustments relating to the balance principle at Jyske Realkre- dit were reclassified from Value adjustments to Interest income. • Income o f DKK 12m (Q1-Q3 2025: Income of DKK 0m) from external revenue was reclassified from income to offsetting against expenses. • Depr eciation and amortisation of DKK 410m (Q1-Q3 2025: DKK 272m) were reclassified from expenses to income from operating lease (net). • Expens es of DKK 76m (Q1-Q3 2025: Expenses of DKK 71m) related to internal funding of operational leasing and inventory consign- ment were reclassified from Net interest income to Income from operational leasing etc. (net). • Dividends of DKK 76m ( Q1-Q3 2025: DKK 135m) were reclassified from Other income to Value adjustements etc.
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45 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 5 Interest income DKKm Q1-Q3 2026 Q1-Q3 2025 Due from credit institutions and central banks 608 776 Loans and advances 10,755 11,069 Administration margin 1,837 1,758 Bonds 2,043 2,055 Derivatives, total 417 451 Of which currency contracts 174 195 Of which interest rate contracts 243 256 Other -12 -17 Total 15,648 16,092 Interest on own mortgage bonds, set off against interest on issued bonds 224 206 Total 15,424 15,886 Of which Interest income calculated according to the effective interest method 6,119 6,555 6 Interest expenses DKKm Q1-Q3 2026 Q1-Q3 2025 Due to credit institutions and central banks 405 477 Deposits 1,305 1,546 Issued bonds 7,112 7,132 Subordinated debt 318 267 Other -20 105 Total 9,120 9,527 Interest on own mortgage bonds, set off against interest on issued bonds 224 206 Total interest expenses 8,896 9,321 7 Fees and commission income DKKm Q1-Q3 2026 Q1-Q3 2025 Securities trading and custody services 1,300 1,168 Money transfers and card payments 284 294 Loan application fees 356 338 Guarantee commission 60 67 Other fees and commissions 725 630 Fees and commissions received, total 2,725 2,497 Fees and commissions paid, total 495 425 Fee and commission income, net 2,230 2,072 8 Value adjustments DKKm Q1-Q3 2026 Q1-Q3 2025 Loans at fair value -5,920 -1,169 Bonds -490 374 Shares, etc. 243 257 Currency 310 234 Currency, interest rate, share, commodity and other contracts as well as other derivatives -1,572 115 Issued bonds 7,816 1,249 Other assets and liabilities 282 41 Total 669 1,101
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46 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees DKKm Q1-Q3 2026 Q1-Q3 2025 Loan impairment charges and provisions for guarantees recognised in the income statement Loan impairment charges and provisions for guarantees for the period -38 -10 Impairment charges on balances due from credit institutions for the period 5 -2 Provisions for loan commitments and unutilised credit lines in the period 29 -12 Recognised as a loss, not covered by loan impairment charges and provisions 104 75 Recoveries -76 -22 Recognised discount for acquired loans* -34 -51 Loan impairment charges and provisions for guarantees recognised in the income statement -10 -22 Balance of loan impairment charges and provisions for guarantees Balance of loan impairment charges and provisions, beginning of the period 4,848 4,923 Loan impairment charges and provisions for the period -9 -22 Recognised as a loss, covered by loan impairment charges and provisions -157 -92 Other movements 56 51 Balance of loan impairment charges and provisions, end of period 4,738 4,860 Loan impairment charges and provisions for guarantees at amortised cost 3,207 3,341 Loan impairment charges at fair value 1,051 1,163 Provisions for guarantees 180 202 Provisions for credit commitments and unutilised credit lines 300 154 Balance of loan impairment charges and provisions, end of period 4,738 4,860
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47 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 30 Sep. 2025 Balance of loan impairment charges and provisions for guarantees by stage – total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Balance, beginning of the year 1,199 1,317 2,325 7 4,848 1,293 1,144 2,481 5 4,923 Transfer of impairment charges to stage 1 301 -284 -17 0 0 322 -283 -39 0 0 Transfer of impairment charges to stage 2 -22 65 -43 0 0 -51 118 -67 0 0 Transfer of impairment charges to stage 3 -3 -45 48 0 0 -3 -81 84 0 0 Impairment charges on new loans, etc. 392 171 202 0 765 425 128 209 0 762 Impairment charges on discontinued loans etc. -176 -184 -404 -4 -768 -201 -153 -315 0 -669 Effect from recalculation -489 215 311 11 48 -518 248 201 4 -65 Previously impaired, now lost 0 -1 -154 0 -155 0 -1 -90 0 -91 Balance, end of period 1,202 1,254 2,268 14 4,738 1,267 1,120 2,464 9 4,860 30 Sep. 2026 30 Sep. 2025 Balance of impairment charges by stage - loans at amortised cost Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Balance, beginning of the year 455 988 1,753 6 3,202 534 816 1,891 4 3,245 Transfer of impairment charges to stage 1 186 -174 -12 0 0 209 -174 -35 0 0 Transfer of impairment charges to stage 2 -15 46 -31 0 0 -34 80 -46 0 0 Transfer of impairment charges to stage 3 -2 -37 39 0 0 -1 -64 65 0 0 Impairment charges on new loans, etc. 113 95 139 0 347 101 82 187 0 370 Impairment charges on discontinued loans etc. -61 -122 -242 -4 -429 -86 -89 -156 0 -331 Effect from recalculation -221 207 216 12 214 -262 204 190 4 136 Previously impaired, now lost 0 0 -127 0 -127 0 -1 -78 0 -79 Balance, end of period 455 1,003 1,735 14 3,207 461 854 2,018 8 3,341
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48 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 30 Sep. 2025 Balance of impairment charges by stage – loans at fair value Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Balance, beginning of the year 611 175 310 0 1,096 638 238 321 0 1,197 Transfer of impairment charges to stage 1 95 -92 -3 0 0 85 -82 -3 0 0 Transfer of impairment charges to stage 2 -4 10 -6 0 0 -14 29 -15 0 0 Transfer of impairment charges to stage 3 -1 -5 6 0 0 -2 -15 17 0 0 Impairment charges on new loans, etc. 206 58 1 0 265 250 29 1 0 280 Impairment charges on discontinued loans etc. -61 -25 -20 0 -106 -59 -36 -22 0 -117 Effect from recalculation -229 -5 38 0 -196 -225 34 6 0 -185 Previously impaired, now lost 0 -1 -7 0 -8 0 0 -12 0 -12 Balance, end of period 617 115 319 0 1,051 673 197 293 0 1,163 30 Sep. 2026 30 Sep. 2025 Balance of provisions by stage – guarantees and loan commitments, etc. Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Balance, beginning of the year 140 155 255 0 550 128 91 262 0 481 Transfer of impairment charges to stage 1 20 -18 -2 0 0 28 -27 -1 0 0 Transfer of impairment charges to stage 2 -3 9 -6 0 0 -3 9 -6 0 0 Transfer of impairment charges to stage 3 0 -3 3 0 0 0 -2 2 0 0 Impairment charges on new loans, etc. 73 18 62 0 153 74 17 21 0 112 Impairment charges on discontinued loans etc. -54 -37 -142 0 -233 -56 -28 -137 0 -221 Effect from recalculation -46 12 64 0 30 -31 10 5 0 -16 Previously impaired, now lost 0 0 -20 0 -20 0 0 0 0 0 Balance, end of period 130 136 214 0 480 140 70 146 0 356
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49 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 31 Dec. 2025 Gross loans, advances and guarantees by stage Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Gross loans and guarantees, beginning of year 566,979 20,270 7,558 51 594,858 552,712 22,509 8,898 58 584,177 Transfer of loans and guarantees to stage 1 9,626 -9,184 -442 0 0 9,429 -9,146 -283 0 0 Transfer of loans and guarantees to stage 2 -3,971 4,264 -293 0 0 -7,933 8,698 -765 0 0 Transfer of loans and guarantees to stage 3 -426 -406 832 0 0 -619 -847 1,466 0 0 Other movements* 2,497 2,013 -1,694 -24 2,792 13,390 -944 -1,758 -7 10,681 Gross loans and guarantees, end of period 574,705 16,957 5,961 27 597,650 566,979 20,270 7,558 51 594,858 Total impairment charges and provisions 1,135 1,171 2,118 14 4,438 1,112 1,201 2,256 7 4,576 Net loans and guarantees, end of period 573,570 15,786 3,843 13 593,212 565,867 19,069 5,302 44 590,282 30 Sep. 2026 31 Dec. 2025 Gross loans at amortised cost by stage Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Gross loans, beginning of year 187,097 9,896 3,675 50 200,718 188,078 10,326 4,602 56 203,062 Transfer of loans to stage 1 3,281 -3,233 -48 0 0 3,896 -3,799 -97 0 0 Transfer of loans to stage 2 -2,904 3,043 -139 0 0 -4,393 4,638 -245 0 0 Transfer of loans to stage 3 -219 -216 435 0 0 -292 -368 660 0 0 Other movements* -2,615 -459 -855 -24 -3,953 -192 -901 -1,245 -6 -2,344 Gross loans, end of period 184,640 9,031 3,068 26 196,765 187,097 9,896 3,675 50 200,718 Total impairments and provisions 456 1,003 1,734 14 3,207 446 989 1,760 7 3,202 Net loans, end of period 184,184 8,028 1,334 12 193,558 186,651 8,907 1,915 43 197,516 *Other movements are new as well as redeemed exposures.
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50 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 31 Dec. 2025 Gross loans at fair value by stage Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Gross loans, beginning of year 367,732 9,800 3,215 0 380,747 353,629 11,412 3,560 0 368,601 Transfer of loans to stage 1 5,810 -5,758 -52 0 0 5,218 -5,041 -177 0 0 Transfer of loans to stage 2 -907 1,058 -151 0 0 -3,420 3,934 -514 0 0 Transfer of loans to stage 3 -194 -183 377 0 0 -325 -461 786 0 0 Other movements* 3,339 2,525 -668 0 5,196 12,630 -44 -440 0 12,146 Gross loans, end of period 375,780 7,442 2,721 0 385,943 367,732 9,800 3,215 0 380,747 Total impairments and provisions 618 115 318 0 1,051 611 174 310 0 1,095 Net loans, end of period 375,162 7,327 2,403 0 384,892 367,121 9,626 2,905 0 379,652 30 Sep. 2026 31 Dec. 2025 Advances and guarantees by stage Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Gross guarantess, beginning of year 12,150 574 668 1 13,393 11,005 771 736 2 12,514 Transfer of guarantees to stage 1 535 -193 -342 0 0 315 -306 -9 0 0 Transfer of guarantees to stage 2 -160 163 -3 0 0 -120 126 -6 0 0 Transfer of guarantees to stage 3 -13 -7 20 0 0 -2 -18 20 0 0 Other movements* 1,773 -53 -171 0 1,549 952 1 -73 -1 879 Gross guarantees, end of period 14,285 484 172 1 14,942 12,150 574 668 1 13,393 Total impairments and provisions 61 53 66 0 180 55 38 186 0 279 Net guarantees, end of period 14,224 431 106 1 14,762 12,095 536 482 1 13,114 *Other movements are new as well as redeemed exposures.
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51 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 31 Dec. 2025 Loans, advances and guarantees by stage and internal rating – gross before impairment charges and provisions* Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Total STY 1 (PD band 0.00 - 0.10%) 28,947 119 0 0 29,066 42,859 STY 2 (PD band 0.10 - 0.15%) 50,771 2 0 0 50,773 27,988 STY 3 (PD band 0.15 - 0.22%) 32,678 16 0 0 32,694 45,003 STY 4 (PD band 0.22 - 0.33%) 50,338 33 0 0 50,371 47,276 STY 5 (PD band 0.33 - 0.48%) 98,937 140 0 0 99,077 115,191 STY 1 - 5 261,671 310 0 0 261,981 278,317 STY 6 (PD band 0.48 - 0.70%) 106,931 335 0 1 107,267 96,473 STY 7 (PD band 0.70 - 1.02%) 76,350 245 0 0 76,595 67,659 STY 8 (PD band 1.02 - 1.48%) 49,798 3,133 0 0 52,931 45,920 STY 9 (PD band 1.48 - 2.15%) 42,641 1,521 0 1 44,163 39,100 STY 10 (PD band 2.15 - 3.13%) 10,709 946 0 0 11,655 21,531 STY 11 (PD band 3.13 - 4.59%) 11,881 1,488 0 0 13,369 13,978 STY 6 - 11 298,310 7,668 0 2 305,980 284,661 STY 12 (PD band 4.59 - 6.79%) 6,178 1,245 0 1 7,424 5,946 STY 13 (PD band 6.79 - 10.21%) 2,434 1,301 0 0 3,735 5,385 STY 14 (PD band 10.21 - 99.99%) 2,112 5,739 0 0 7,851 7,726 STY 12 - 14 10,724 8,285 0 1 19,010 19,057 Other 3,964 585 0 0 4,549 4,915 Non-performing 36 109 5,961 24 6,130 7,908 Total 574,705 16,957 5,961 27 597,650 594,858 30 Sep. 2026 31 Dec. 2025 Loan impairment charges and provi- sions for guarantees by stage and internal rating* Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Total STY 1 (PD band 0.00 - 0.10%) 15 1 0 0 16 20 STY 2 (PD band 0.10 - 0.15%) 28 0 0 0 28 25 STY 3 (PD band 0.15 - 0.22%) 39 0 0 0 39 40 STY 4 (PD band 0.22 - 0.33%) 88 0 0 0 88 73 STY 5 (PD band 0.33 - 0.48%) 154 1 0 0 155 165 STY 1 - 5 324 2 0 0 326 323 STY 6 (PD band 0.48 - 0.70%) 131 2 0 0 133 94 STY 7 (PD band 0.70 - 1.02%) 146 3 0 0 149 128 STY 8 (PD band 1.02 - 1.48%) 158 50 0 0 208 170 STY 9 (PD band 1.48 - 2.15%) 152 23 0 0 175 189 STY 10 (PD band 2.15 - 3.13%) 33 26 0 0 59 84 STY 11 (PD band 3.13 - 4.59%) 61 59 0 0 120 148 STY 6 - 11 681 163 0 0 844 813 STY 12 (PD band 4.59 - 6.79%) 48 54 0 0 102 76 STY 13 (PD band 6.79 - 10.21%) 24 30 0 0 54 117 STY 14 (PD band 10.21 - 99.99%) 24 866 0 0 890 794 STY 12 - 14 96 950 0 0 1,046 987 Other 34 48 0 0 82 173 Non-performing 0 8 2,118 14 2,140 2,280 Total 1,135 1,171 2,118 14 4,438 4,576 *Probability of Default (PD) is stated within a 12-month horizon. Detailed information on STY and PD bands is provided in note 48 in consolidated financial statement of the Annual Report 2025.
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52 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 9 Loan impairment charges and provisions for guarantees, cont. DKKm 30 Sep. 2026 31 Dec. 2025 Loan commitments and unutilised credit facilities by stage* Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Total STY 1 (PD band 0.00 - 0.10%) 16,802 -1 0 0 16,801 15,708 STY 2 (PD band 0.10 - 0.15%) 9,307 2 0 0 9,309 8,535 STY 3 (PD band 0.15 - 0.22%) 2,585 1 0 0 2,586 2,244 STY 4 (PD band 0.22 - 0.33%) 7,391 1 0 0 7,392 5,384 STY 5 (PD band 0.33 - 0.48%) 10,831 30 0 0 10,861 12,077 STY 1 - 5 46,916 33 0 0 46,949 43,948 STY 6 (PD band 0.48 - 0.70%) 6,043 60 0 0 6,103 5,109 STY 7 (PD band 0.70 - 1.02%) 12,131 48 0 0 12,179 8,244 STY 8 (PD band 1.02 - 1.48%) 4,673 62 0 0 4,735 5,635 STY 9 (PD band 1.48 - 2.15%) 3,800 582 0 0 4,382 3,486 STY 10 (PD band 2.15 - 3.13%) 799 169 0 0 968 1,566 STY 11 (PD band 3.13 - 4.59%) 1,328 213 0 0 1,541 2,288 STY 6 - 11 28,774 1,134 0 0 29,908 26,328 STY 12 (PD band 4.59 - 6.79%) 907 165 0 0 1,072 518 STY 13 (PD band 6.79 - 10.21%) 201 99 0 0 300 291 STY 14 (PD band 10.21 - 99.99%) 435 468 0 0 903 716 STY 12 - 14 1,543 732 0 0 2,275 1,525 Other 1,773 18 0 0 1,791 496 Non-performing 2 13 169 0 184 255 Total 79,008 1,930 169 0 81,107 72,552 30 Sep. 2026 31 Dec. 2025 Provisions for loan commitments and unutilised credit lines by stage* Stage 1 Stage 2 Stage 3 Credit-impai- red at initial recognition Total Total STY 1 (PD band 0.00 - 0.10%) 1 0 0 0 1 1 STY 2 (PD band 0.10 - 0.15%) 2 0 0 0 2 2 STY 3 (PD band 0.15 - 0.22%) 2 0 0 0 2 3 STY 4 (PD band 0.22 - 0.33%) 4 0 0 0 4 4 STY 5 (PD band 0.33 - 0.48%) 6 0 0 0 6 13 STY 1 - 5 15 0 0 0 15 23 STY 6 (PD band 0.48 - 0.70%) 4 0 0 0 4 6 STY 7 (PD band 0.70 - 1.02%) 11 1 0 0 12 14 STY 8 (PD band 1.02 - 1.48%) 5 0 0 0 5 13 STY 9 (PD band 1.48 - 2.15%) 5 6 0 0 11 9 STY 10 (PD band 2.15 - 3.13%) 2 1 0 0 3 9 STY 11 (PD band 3.13 - 4.59%) 4 1 0 0 5 25 STY 6 - 11 31 9 0 0 40 76 STY 12 (PD band 4.59 - 6.79%) 4 2 0 0 6 4 STY 13 (PD band 6.79 - 10.21%) 1 7 0 0 8 2 STY 14 (PD band 10.21 - 99.99%) 4 63 0 0 67 85 STY 12 - 14 9 72 0 0 81 91 Other 13 1 0 0 14 5 Non-performing 0 0 150 0 150 76 Total 68 82 150 0 300 271 *Probability of Default (PD) is stated within a 12-month horizon. Detailed information on STY and PD bands is provided in note 48 in consolidated financial statement of the Annual Report 2025.
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53 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 10 Loans at fair value DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Mortgage loans at nominal value 406,800 395,484 392,673 Adjustment for interest-rate risk etc. -23,266 -17,391 -15,933 Adjustment for credit risk -957 -1,004 -1,054 Mortgage loans at fair value, total 382,577 377,089 375,686 Arrears and outlays, total 37 68 74 Other loans and advances 2,278 2,495 2,155 Loans and advances at fair value, total 384,892 379,652 377,915 11 Loans and advances at fair value by property category DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Owner-occupied homes 184,105 177,565 175,203 Vacation homes 11,194 10,514 10,277 Subsidised housing (rental housing) 47,736 48,686 48,773 Cooperative housing 10,515 10,987 11,032 Private rental properties (rental housing) 79,003 78,900 78,928 Industrial properties 7,339 7,382 7,418 Office and retail properties 37,831 38,075 38,643 Agricultural properties 97 101 102 Properties for social, cultural and educational purposes 6,837 7,193 7,290 Other properties 235 249 249 Total 384,892 379,652 377,915 12 Loans and advances at amortised cost and guarantees by sector DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Public authorities 9,033 11,096 10,474 Agriculture, hunting, forestry, fishing 13,073 12,979 12,804 Manufacturing, mining, etc. 14,257 16,368 14,256 Energy supply 4,582 5,790 5,783 Building and construction 2,671 2,530 2,571 Commerce 9,281 8,715 10,068 Transport, hotels and restaurants 6,808 5,912 5,837 Information and communication 561 535 921 Financing and insurance 61,678 64,036 64,701 Real property 21,338 19,968 19,981 Other sectors 21,106 20,441 18,744 Corporates, total 155,355 157,274 155,666 Personal customers, total 43,932 42,260 42,965 Total 208,320 210,630 209,105 13 Other assets DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Positive fair value of derivatives 13,540 12,478 12,333 Assets in pooled deposits 5,335 5,772 6,109 Interest and commission receivable 1,086 1,127 1,045 Investments in associates and joint ventures 188 189 186 Deferred income 199 214 209 Investment properties 79 81 87 Other assets 3,372 4,256 2,772 Total 23,799 24,117 22,741 Netting 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Positive fair value of derivatives, gross 35,269 29,714 30,049 Netting of positive and negative fair value 21,729 17,236 17,716 Total 13,540 12,478 12,333
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54 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 14 Deposits DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Demand deposits 165,160 155,196 154,236 Term deposits 3,569 4,125 3,880 Time deposits 32,431 37,283 31,749 Special deposits 5,158 5,550 5,298 Pooled deposits 5,398 5,955 6,173 Total 211,716 208,109 201,336 15 Issued bonds at fair value DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Issued bonds at fair value, nominal value 438,920 446,508 416,780 Adjustment to fair value -25,645 -18,638 -16,976 Own mortgage bonds offset, fair value -46,502 -53,020 -30,928 Total 366,773 374,850 368,876 16 Other liabilities DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Set-off entry of negative bond holdings in connection with repos/reverse repos 6,156 7,720 6,349 Negative fair value of derivatives 13,485 11,742 11,301 Interest and commission payable 4,141 3,450 3,801 Deferred income 192 140 129 Lease commitment 705 755 155 Other liabilities 10,022 8,841 9,694 Total 34,701 32,648 31,429 Netting Negative fair value of derivatives, gross 35,214 28,978 29,017 Netting of positive and negative fair value 21,729 17,236 17,716 Total 13,485 11,742 11,301 17 Subordinated debt DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Var. % bond loan NOK 1,000m 2031.03.24 0 631 637 Var. % bond loan SEK 1,000m 2031.03.24 0 691 675 1.25% bond loan EUR 200m 2031.01.28 0 1,494 1,493 6.73% bond loan EUR 1.5m 2026 0 11 11 Var. bond loan SEK 600m 2032.08.31 396 414 405 Var. bond loan NOK 400m 2032.08.31 274 252 255 Var. bond loan DKK 400m 2032.08.31 400 400 400 5.125% bond loan EUR 500m 2035.01.05 3,738 3,735 3,732 3.875% bond loan EUR 500 m 2037.03.04 3,738 3,735 3,732 Subordinated debt, nominal 8,546 11,363 11,340 Hedging of interest rate risk, fair value -305 7 60 Total 8,241 11,370 11,400 Subordinated debt included in the capital base 8,299 8,605 11,377
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55 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 18 Contingent liabilities DKKm 30 Sep. 2026 31 Dec. 2025 30 Sep. 2025 Guarantees, etc. 14,762 13,114 14,105 Other contingent liabilities, etc. 81,129 72,576 70,401 Total 95,891 85,690 84,506 Financial guarantees primarily comprise payment guarantees, and the risk is comparable to that of credit facilities. Other contingent liabilities include various types of guarantees with varying risk, including performance guarantees. Due to its business activities, the Group is also party to various lawsuits and disputes. The Group assesses the risk in each individual case, and necessary provisions are recognised under provisions for liabilities. The Group does not expect such obligations to have a material impact on its financial position. Participation in the statutory deposit guarantee scheme entails that the sector has paid an annual contribution of 2.5‰ of covered net deposits until the Banking Department’s funds exceeded 0.8% of total covered net deposits, which has been achieved. The Banking Department bears the immediate losses from the resolution of distressed banks under Bank Package 3 and Bank Package 4 attributable to covered net deposits. Any losses from the final resolution are covered by the Guarantee Fund via the Resolution and Restructuring Department, where Jyske Bank currently guarantees 9.17% of any losses. Participation in the statutory resolution financing scheme (resolution fund) since June 2015 entails that credit institutions pay an annual contribution over a 10-year period to reach a target fund equal to 1% of covered deposits. Contributions are based on each institution’s relative size and risk in Denmark, and the first contributions were paid at year-end 2015. With the 2024 con- tributions, the Resolution Fund reached its target level of 1% of covered deposits. The Jyske Bank Group has contributed a total of approximately DKK 670m to the Resolution Fund. Henceforth The Group will be required to contribute in case the fund falls below the 1% target. Jyske Bank’s membership of Bankdata entails that, upon any with- drawal, the Bank is obliged to pay an exit compensation to Bankdata of approximately DKK 1.9bn. Jyske Bank A/S is jointly taxed with all domestic subsidiaries within the Jyske Bank Group. Jyske Bank A/S is the administrative company in the joint taxation and is therefore liable without limitation and jointly for the Danish corporate taxes of the group. Jyske Bank A/S and its principal subsidiaries are also jointly registered for VAT purposes and are jointly liable for payment of VAT and payroll tax. 19 Shareholders On 30 September 2026, BRFholding a/s, Copenhagen, Denmark held 28.59% of the share capital. BRFholding a/s is a 100% owned subsidiary of BRFfonden. BRFholding a/s has, according to Jyske Bank’s articles of association, 4,000 votes. 20 Related parties Jyske Bank is the banker of a number of related parties. Transac- tions between related parties are characterised as ordinary financial transactions and services of an operational nature. Trans- actions with related parties were executed on an arm’s length basis or at cost. Over the period, there were no unusual transactions with related parties. Please see Jyske Bank’s Annual Report 2025 for a detailed description of transactions with related parties. 21 Bonds provided as security The Jyske Bank Group has deposited bonds with national banks and clearing houses, etc. in connection with clearing and settle- ment of securities and foreign exchange transactions as well as triparty repo transactions, with a total market value of DKK 9,412m (end of 2025: DKK 7,985m). In addition, the Jyske Bank Group has provided cash collateral in connection with CSA agreements of DKK 4,610m (end of 2025: DKK 2,641m) and bonds of DKK 1,753m (end of 2025: 2,018m). Entering into repo transactions, i.e., the sale of securities with a simultaneous agreement to repurchase at a later date, means that bonds of DKK 20,669m (end of 2025: DKK 25,649m) have been pledged as security for the borrowed amount as of 30 September 2026.
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56 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 22 Fair value of financial assets and liabilities DKKm 30 Sep. 2026 31 Dec. 2025 Recognised value Fair value Recognised value Fair value Financial assets Cash balance and demand deposits with central banks 29,808 29,808 44,782 44,782 Due from credit institutions and central banks 9,249 9,248 7,201 7,199 Loans at fair value 384,892 384,892 379,652 379,652 Loans and advances at amortised cost 193,558 193,203 197,516 197,543 Bonds at fair value 76,742 76,742 79,030 79,030 Bonds at amortised cost 31,242 30,278 33,238 32,843 Shares, etc. 2,621 2,621 2,447 2,447 Assets in pooled deposits 5,335 5,335 5,772 5,772 Derivatives 13,540 13,540 12,478 12,478 Total 746,987 745,667 762,116 761,746 Financial liabilities Due to credit institutions and central banks 21,334 21,312 30,899 30,885 Deposits 206,318 206,296 202,154 202,124 Pooled deposits 5,398 5,398 5,955 5,955 Issued bonds at fair value 366,773 366,773 374,850 374,850 Issued bonds at amortised cost 63,941 63,761 65,400 65,958 Subordinated debt 8,241 8,159 11,370 11,576 Set-off entry of negative bond holdings 6,156 6,156 7,720 7,720 Derivatives 13,485 13,485 11,742 11,742 Total 691,646 691,340 710,090 710,810 The Group does not have financial assets at fair value through other comprehensive income. The table shows the fair value of financial assets and liabilities compared with their carrying amounts. The adjustment to fair value for financial assets and liabilities reflects a total unrecognised unrealised loss of DKK 1,014m at the end of Q3 2026 compared with a total unrecognised unrealised loss of DKK 1,090m at year- end 2025. Notes on fair value Principles of recognition and measurement at fair value are provid- ed in note 48 in the consolidated financial statement the of Annual Report 2025. Information on Changes in Credit Risk Related to Derivatives To account for credit risk related to derivatives for customers with- out credit impairment, an adjustment to fair value (CVA) is made. Customers with credit impairment are also adjusted but treated individually. For a given counterparty’s total derivative portfolio, CVA is a function of the expected positive exposure (EPE), the loss given default (LGD), and the probability of default (PD). In determining EPE, a model is applied to estimate the expected future positive exposure for the counterparty’s portfolio over the life of the derivatives. The PDs used in the model reflect the probability of default implied by the market, as these probabilities are derived from market-observable Credit Default Swap (CDS) spreads. LGD is aligned with CDS spread quotations used in calculating default probabilities, while exposure profiles are adjusted for the effect of any collateral and CSA agreements. In addition to CVA, an adjustment is also made to the fair value of derivatives with an expected future negative fair value to account for changes in counterparties’ credit risk towards the Jyske Bank Group (DVA). The DVA adjustment follows the same principles as the CVA adjustment; however, PD for Jyske Bank is based on Jyske Bank’s external rating from Standard & Poor’s. As of 30 September 2026, CVA and DVA amounted to a net total gain of DKK 25m, recognised cumulatively under value adjustments, compared to DKK 18m gain at year-end 2025.
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57 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements 23 Fair value hierarchy DKKm 30 Sep. 2026 31 Dec. 2025 Quoted prices Observable input Non-obser- vable input Fair value, total Recognised value Quoted prices Observable input Non-obser- vable input Fair value, total Recognised value Financial assets Loans at fair value 0 384,892 0 384,892 384,892 0 379,652 0 379,652 379,652 Bonds at fair value 63,308 13,434 0 76,742 76,742 65,646 13,384 0 79,030 79,030 Shares, etc. 1,447 244 930 2,621 2,621 1,292 270 885 2,447 2,447 Assets in pooled deposits 583 4,752 0 5,335 5,335 587 5,185 0 5,772 5,772 Derivatives 226 13,314 0 13,540 13,540 170 12,308 0 12,478 12,478 Total 65,564 416,636 930 483,130 483,130 67,695 410,799 885 479,379 479,379 Financial liabilities Pooled deposits 0 5,398 0 5,398 5,398 0 5,955 0 5,955 5,955 Issued bonds at fair value 268,272 98,501 0 366,773 366,773 269,604 105,246 0 374,850 374,850 Set-off entry of negative bond holdings 5,556 600 0 6,156 6,156 7,401 319 0 7,720 7,720 Derivatives 231 13,254 0 13,485 13,485 178 11,564 0 11,742 11,742 Total 274,059 117,753 0 391,812 391,812 277,183 123,084 0 400,267 400,267 Non-observable input 30 Sep. 2026 31 Dec. 2025 Fair value, beginning of period 885 990 Transfers for the period 0 0 Capital gain and loss for the period reflected in the income statement under value adjustments 68 -2 Sales or redemptions for the period 57 136 Purchases made over the period 34 33 Fair value, end of period 930 885 Fair Value of Financial Assets and Liabilities The table above shows the fair value hierarchy for financial assets and liabilities measured at fair value. The Group applies a policy whereby, if prices for Danish bonds and equities have not been updated for two days, this will result in transfers between the categories “Quoted prices” and “Observable inputs. ” This has not lead to any material transfers in 2026 or 2025. Non-Financial Assets Measured at Fair Value Investment properties are measured at fair value of DKK 79m (year-end 2025: DKK 81m). The fair value belongs to the category of unobservable inputs and is calculated based on a required return of 2–10% year-end 2025. At the end of Q3 2026, assets held temporarily comprise repossessed properties and vehicles, etc. Assets held temporarily are measured at the lower of cost and fair value less costs to sell. These assets are recognised at DKK 170m (year-end 2025: DKK 185m). The fair value belongs to the category of unobservable inputs. Unobservable inputs comprise unlisted shares amounting to DKK 930m at 30 September 2026 compared with DKK 885m at year-end 2025. These are primarily sector shares. The valuation, which is subject to some uncertainty, is based on the shares’ intrinsic value, market transactions, shareholder agreements as well as internal assumptions and extrapolations. In cases where Jyske Bank calculates fair value based on the company’s expected future earnings, a required return of 15% p.a. before tax is applied. Assuming that an actual transaction price would deviate by +/-10% from the calculated fair value, the impact on profit would be DKK 93m as at 30 September 2026 (0.20% of shareholders’ equity at the end of Q3 2026). For 2025, the estimated impact on profit was DKK 89m (0.19% of shareholders’ equity at year-end 2025). The year’s gains and losses in the income statement from unlisted shares relate to assets held at the end of Q3 2026. Jyske Bank considers it unlikely that alternative pricing to the applied fair value measurement would result in a materially different fair value. Owner-occupied properties excluding leased properties are measured at the revalued amount corresponding to fair value at the revaluation date less subsequent depreciation and impairment. External experts are involved in the valuation of selected plots and buildings. The valuation is based on the income approach in accordance with generally accepted principles and with a weighted average required return of 6.4% at year-end 2025. Owner- occupied properties excluding leased properties are recognised at DKK 1,570m (2025: DKK 1,631m). The revalued amount belongs to the category of unobservable inputs. Leased properties are recognised at DKK 677m (year-end 2025: DKK 729m).
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58 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Statement by the Management and Supervisory Boards Statements
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59 Interim Financial Report Q1-Q3 2026 Introduction Financial Review Financial Statements Statements Statement by the Management and Supervisory Boards We have today discussed and approved the Interim Financial Report of Jyske Bank A/S for the period 1 January to 30 September 2026. The consolidated Interim Financial Statements were prepared in accordance with statutory requirements, including IAS 34, Interim Financial Reporting as adopted by the EU. Further, the Interim Financial Report was prepared in accordance with the additional Danish disclosure requirements for interim financial reports of listed financial companies. The Interim Financial Report is unaudited and has not been reviewed, but the external auditor verified the profit, and this verification included audit procedures in line with the require- ments relating to a review, and hence it was ascertained that the conditions for on-going recognition of the profit for the period in the capital base were met. In our opinion, the Interim Financial Statement gives a true and fair view of the Group’s assets, liabilities and financi- al position on 30 September 2026 and also of its financial performance and cash flows for the period 1 January to 30 September 2026. In our opinion, the Management’s Review gives a fair presen- tation of the development in the Group’s performance and financial position, the profit for the period and the Group’s financial position as a whole as well as a description of the most material risks and elements of uncertainty that may affect the Group. Silkeborg, 28 October 2026 Group Executive Board Lars Mørch CEO and Member of the Group Executive Board Erik Gadeberg Jacob Gyntelberg Ingjerd Blekeli Spiten Klaus Naur Group Supervisory Board Kurt Bligaard Pedersen Chairman Anker Laden-Andersen Deputy Chairman Rina Asmussen Birgitte Haurum Lisbeth Holm Bente Overgaard Per Schnack Glenn Söderholm Henriette Hoffmann Employee representative Sine Møller Employee representative Line Skov Fuglkjær Employee representative Michael Mariegaard Employee representative
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Jyske Bank Vestergade 8-16 · DK-8600 Silkeborg Tel. +45 89 89 89 89 jyskebank.dk jyskebank.com Business Reg. No. (CVR) 17 61 66 17