Interim report
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Third quarter Report 2026
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Foto forside: Eidsvatnet i Eidsdal, Møre og Romsdal Foto: Bondhusvatnet i Sunndal, Møre og Romsdal Table of contents Main figures 3 Report of the Board of Directors 5 Income Statement 14 Balance Sheet 16 Cash flow statement 18 Statement of changes in equity 20 Notes 26 Results from quarterly accounts 62 Key figures from quarterly accounts 63 Equity capital certificates 66 Auditor’s report 67
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3SPAREBANK 1 SMN | THIRD QUARTER | 2026 | MAIN FIGURES Main figures January - September 3rd quarter From the income statement (NOKm) 2026 2025 2026 2025 2025 Net interest 3,744 3,993 1,292 1,337 5,343 Net commission income and other income 2,004 2,059 606 640 2,684 Net return on financial investments 813 821 216 353 1,123 Total income 6,561 6,873 2,114 2,330 9,150 Total operating expenses 2,730 2,671 913 854 3,561 Results before losses 3,830 4,202 1,201 1,476 5,589 Loss on loans, guarantees etc 152 80 17 27 140 Results before tax 3,678 4,123 1,184 1,448 5,449 Tax charge 696 807 230 275 1,072 Result investment held for sale, after tax 0 -11 1 -2 -11 Net profit 2,982 3,305 954 1,171 4,367 Interest Tier 1 Capital 107 115 33 34 161 Net profit excl. Interest Tier 1 Capital 2,875 3,191 921 1,137 4,205 Balance sheet figures (NOKm) 30/09/2026 30/09/2025 31/12/2025 Gross loans to customers 185,500 185,180 184,387 Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt 268,280 254,954 258,923 Deposits from customers 150,259 148,986 146,165 Average total assets 248,799 251,925 250,123 Total assets 245,579 254,140 242,914
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4SPAREBANK 1 SMN | THIRD QUARTER | 2026 | MAIN FIGURES Key figures (ECC) 30/09/2026 30/09/2025 31/12/2025 31/12/2024 31/12/2023 31/12/2022 ECC ratio 67% 67% 67% 67% 67% 64% Number of certificates issued, millions 1) 144.21 144.19 144.19 144.21 144.20 129.29 ECC share price at end of period (NOK) 218.25 193.66 206.05 171.32 141.80 127.40 Stock value (NOKm) 31,474 27,923 29,711 24,706 20,448 16,471 Booked equity capital per ECC (including dividend) 1) 135.18 131.03 135.06 128.09 120.48 109.86 Profit per ECC, majority 1) 13.03 14.49 19.08 20.10 16.88 12.82 Dividend per ECC 13.50 12.50 12.00 6.50 Price-Earnings Ratio 1) 12.52 10.00 10.80 8.52 8.40 9.94 Price-Book Value Ratio 1) 1.61 1.48 1.49 1.34 1.18 1.16 1) Defined as alternative performance measures, see attachment to quarterly report Key figures January - September 3rd quarter Profitability 1) 2026 2025 2026 2025 2025 Return on equity 13.2 % 15.3 % 12.4 % 15.9 % 14.8 % Cost-income ratio (Group) 47.5 % 44.1 % 48.1 % 43.2 % 44.4 % Cost-income ratio (Parent bank) 38.7 % 35.7 % 37.7 % 33.5 % 36.0 % Deposit-to-loan ratio excl. SB1 Boligkreditt and SB1 Næringskreditt 81 % 80 % 81 % 80 % 79 % Deposit-to-loan ratio incl. SB1 Boligkreditt and SB1 Næringskreditt 56 % 58 % 56 % 58 % 56 % Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 5.2 % 3.2 % 1.3 % 0.8 % 3.8 % Growth in deposits last 12 months 0.9 % 7.9 % −3.5 % −0.3 % 3.7 % Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt 1) Impairment losses ratio 0.08% 0.04% 0.03% 0.04% 0.06% Stage 3 as a percentage of gross loans 0.85% 0.86% 0.85% 0.86% 0.88% Solidity 30/09/2026 30/09/2025 31/12/2025 Capital ratio 21.3 % 22.1 % 20.8 % Tier 1 capital ratio 18.8 % 19.6 % 18.5 % Common equity Tier 1 capital ratio 17.1 % 17.8 % 16.8 % Tier 1 capital 26,610 26,080 25,731 Total eligible capital 30,205 29,398 28,958 Liquidity Coverage Ratio (LCR) 146 % 176 % 156 % Leverage Ratio 7.0 % 7.1 % 7.0 % MREL 48.6 % 50.8 % 46.9 % MREL, substituted 32.0 % 35.0 % 31.8 % NSFR 123 % 124 % 124 % Branches and staff Number of branches 47 47 47 No. of full-time positions 1,616 1,700 1,672
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5SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Report of the Board of Directors Third quarter 2026 (Group figures. Figures in parentheses refer to the corresponding period last year unless otherwise stated.) • Profit before tax of NOK 1,184 million (NOK 1,448 million) • Net profit of NOK 954 million (NOK 1,171 million) • Return on equity of 12.4 per cent (15.9 per cent) • Common Equity Tier 1 (CET1) ratio of 17.1 per cent (17.8 per cent) • Net interest income of NOK 1,292 million (NOK 1,337 million) • Net commission and other income of NOK 606 million (NOK 640 million) • Operating expenses of NOK 913 million (NOK 854 million) • Loan growth of 1.3 per cent (0.8 per cent) and deposit decline of 3.5 per cent (0.3 per cent). • Retail lending in the bank increased by 1.3 per cent in the quarter (1.3 per cent). Corporate lending in the bank increased by 2.1 per cent (a decrease of 0.2 per cent). • Retail deposits decreased by 2.1 per cent (2.0 per cent). Deposits from corporate customers decreased by 3.3 per cent (increase of 2.1 per cent). • Net profit from interests in associated companies of NOK 204 million (NOK 278 million) • Net gains on financial instruments (including dividends) of NOK 12 million (NOK 75 million) • Losses on loans and guarantees of NOK 17 million (NOK 27 million) • Earnings per equity certificate of NOK 4.19 (NOK 5.19) • Book value per equity certificate of NOK 135.18 (NOK 131.03) First nine months 2026 (Group figures. Figures in parentheses refer to the corresponding period last year unless otherwise stated) • Profit before tax of NOK 3,678 million (NOK 4,123 million) • Net profit of NOK 2,982 million (NOK 3,305 million) • Return on equity of 13.2 per cent (15.3 per cent) • Common Equity Tier 1 (CET1) ratio of 17.1 per cent (17.8 per cent) • Net interest income of NOK 3,744 million (NOK 3,993 million) • Net commission and other income of NOK 2,004 million (NOK 2,059 million) • Operating expenses of NOK 2,730 million (NOK 2,671 million) • Loan growth of 5.2 per cent (3.2 per cent ) and deposit growth of 0.9 per cent (7.9 per cent) over the last 12 months • Retail lending in the bank increased by 5.5 per cent over the last 12 months (4.9 per cent). Corporate lending in the bank increased by 5.9 per cent over the last 12 months (0.0 per cent). • Retail deposits increased by 6.2 per cent (9.3 per cent) over the last 12 months. Deposits from corporate customers decreased by 4.5 per cent (increase of 9.1 per cent). • Net profit from interests in associated companies of NOK 770 million (NOK 740 million) • Net gains on financial instruments (including dividends) of NOK 43 million (NOK 81 million) • Losses on loans and guarantees of NOK 152 million (NOK 80 million) • Earnings per equity certificate of NOK 13.03 (NOK 14.49)
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6SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Events in the quarter Macroeconomy At the start of the year, both the market and Norges Bank expected policy rate cuts during 2026. Persistent inflation above target and increased uncertainty surrounding energy and commodity prices have contributed to a tighter monetary policy stance. Norges Bank raised the policy rate to 4.50 per cent in September and signals that the rate will remain high for a period ahead. Twelve-month growth in the consumer price index (CPI) was 3.4 per cent at the end of the third quarter of 2026. Underlying inflation, measured by the CPI-ATE, was 3.0 per cent. According to the Norwegian Labour and Welfare Administration (NAV), the proportion of the labour force registered as fully unemployed remains low. As at September 2026, the proportion was 1.9 per cent in Trøndelag and 1.6 per cent in Møre og Romsdal. Nationally, the proportion was 2.0 per cent. Norges Bank assesses capacity utilisation in the Norwegian economy to be somewhat below a normal level, while employment remains high. Credit growth to households over the past 12 months was 4.5 per cent as at September 2026. The corresponding figure for non-financial corporations was 5.9 per cent. Norges Bank expects household credit growth of 4.6 per cent in 2026. Businesses in Norges Bank’s Regional Network report moderate activity growth ahead, supported by increased household purchasing power and investment related to data centres, power infrastructure and the defence sector. Continued low activity in the building and construction industry is, however, dampening developments. The indicator for Central Norway continues to show a slightly negative development, driven by weak demand for housing and traditional commercial buildings. The Northwestern Norway region shows a positive development. New finance centre in Lillestrøm SpareBank 1 Regnskapshuset SMN will merge with Statera Accounting with effect from 1 January 2027. This strengthens SpareBank 1 SMN’s focus on Eastern Norway and establishes a new finance centre with approximately 20 employees in Romerike. Sale of Kredinor SpareBank 1 Gruppen and the Kredinor Foundation have entered into a final agreement for the sale of Kredinor AS. Completion of the transaction is subject to the necessary regulatory approvals and other closing conditions and is expected around the turn of the year. The financial reporting effects of the transaction are expected to be moderate.
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7SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Third quarter results SpareBank 1 SMN delivered a net profit of NOK 954 million in the third quarter. The result was driven by increased net interest income, while a seasonal decline in commission income and lower contributions from ownership interests reduced profit. Return on equity for the quarter was 12.4 per cent. Net interest income increased by 5.1 per cent from the previous quarter. Adjusted for the number of interest-bearing days, aggregate net interest income and commissions from the mortgage companies increased by 3.0 per cent from the second quarter. Compared with the second quarter, commissions excluding mortgage companies decreased by NOK 85 million, mainly due to seasonal variations in real estate brokerage and accounting services. Profit from associated companies decreased compared with both the previous quarter and the corresponding quarter in 2025. Net profit from financial instruments was affected by wider credit spreads in the quarter. The Group’s costs increased by NOK 24 million from the previous quarter. Losses on loans amounted to NOK 17 million in the third quarter. At quarter-end, the Common Equity Tier 1 (CET1) ratio was 17.1 per cent, well above both the Group’s internal target and regulatory requirements. Net interest income Average three-month NIBOR was 4.62 per cent in the third quarter, an increase of 0.10 percentage points from the second quarter. At quarter-end, the corresponding rate was 4.80 per cent. Net interest income in the third quarter amounted to NOK 1,292 million (NOK 1,337 million) compared with NOK 1,229 million in the second quarter of 2026, representing an increase of 5.1 per cent. Net interest income increased due to one additional interest-bearing day in the quarter and repricing of the lending and deposit portfolios following Norges Bank’s interest rate change in the second quarter. For retail customers, the rate change took effect on 13 July. Following the central bank’s rate increase in September, customers have been notified of an interest rate increase. For retail customers, this will take effect from 30 November. Net interest income and commissions from the mortgage companies increased by a total of NOK 52 million from the second quarter, corresponding to a growth of 4.1 per cent. Adjusted for the number of interest days, net interest income and commissions from the mortgage companies increased by 3.0 per cent from the second quarter of 2026. Commission and other operating income SpareBank 1 SMN’s strategy of leveraging the breadth of the Group and increasing collaboration across its business areas remains firmly established. The strategy is supported, among other things, by co-location in finance centres. A high proportion of multi-product customers contributes to a capital-efficient and diversified income stream as well as high customer satisfaction. Commission income (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Payment transfers 83 66 87 Credit card 18 15 11 Saving products 16 25 13 Insurance 88 86 80 Guarantee commission 13 14 16 Real estate agency 163 197 165 Accountancy services 166 232 152 Other commissions 23 19 22 Commissions ex SB1 Boligkreditt and SB1 Næringskreditt 570 655 546 Commissions SB1 Boligkreditt 33 44 91 Commissions SB1 Næringskreditt 4 3 3 Total commission income 606 702 640 Commission income excluding the mortgage companies amounted to NOK 570 million in the third quarter, a decrease of NOK 85 million from the previous quarter. Compared with the third quarter of 2025, income increased by NOK 24 million, or 4.4 per cent. The decline from the second quarter was mainly due to seasonal variations in accounting services and real estate brokerage, where income decreased by NOK 65 million and NOK 34 million respectively. Compared with the third quarter of 2025, income from accounting services increased by NOK 14 million, or 9.4 per cent. Income from real estate brokerage decreased by NOK 2 million compared with the third quarter of 2025. For loans sold to SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt, the Bank receives a commission equivalent to the lending rate less the funding and operating costs incurred by the respective companies. Commission income from the mortgage companies declined in the third quarter as a result of higher funding costs. Return on financial instruments Return on financial instruments amounted to NOK 10 million (NOK 73 million) in the third quarter. Gains on shares totalled NOK 60 million (NOK 42 million) in the quarter, and were related to SpareBank 1 SMN Invest and gains on long-term equity investments. Net profit from financial instruments, including bonds and certificates, is affected by
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8SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD changes in credit spreads and market movements and will therefore cause volatility in the Group’s earnings. In the third quarter, net profit from interest rate instruments and derivatives included a capital loss of NOK 50 million (gain of NOK 25 million). Income from foreign exchange transactions was NOK 0 million (NOK 6 million). Return on financial instruments (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Capital gains/losses shares 60 49 42 Gain/(loss) on interest rate instruments and derivatives -50 12 25 Foreign exchange gain/(loss) 0 12 6 Net return on financial instruments 10 74 73 Associated companies SpareBank 1 SMN has a broad and well-diversified earnings platform. The Group offers its customers a wide range of products and services through companies in which it has direct ownership interests as well as through its ownership in SpareBank 1 Gruppen. This generates both commission income and return on invested capital. The total share of profit from product companies and other associated companies amounted to NOK 204 million (NOK 278 million) in the quarter. In the second quarter of 2026, the corresponding figure was NOK 355 million. Income from investment in associated companies (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 SpareBank 1 Gruppen (19.5%) 143 174 136 SpareBank 1 Boligkreditt (25.1%) 11 48 41 SpareBank 1 Næringskreditt (19.5%) 2 2 2 BN Bank (35.0%) 52 70 70 SpareBank 1 Markets (31.9%) 2 11 12 Kredittbanken (14.6%) 1 6 3 SpareBank 1 Betaling (20.5%) 0 14 2 SpareBank 1 Forvaltning (20.7%) 12 18 14 Other companies -19 13 -1 Income from investment in associated companies 204 355 278 The SpareBank 1 Alliance The SpareBank 1 Alliance is Norway’s second-largest financial services group. The alliance is a banking and product collaboration designed to secure economies of scale and access to competitive financial products and services for the member banks. The collaboration is conducted through ownership in SpareBank 1 Gruppen, which owns and manages several of the product companies, and through participation in SpareBank 1 Utvikling, which develops and delivers common products and services. SpareBank 1 Gruppen reported a profit of NOK 1,385 million (NOK 1,292 million) in the third quarter, of which SpareBank 1 SMN’s share of the majority owners’ profit was NOK 143 million (NOK 136 million). The most important companies within SpareBank 1 Gruppen are (ownership of SpareBank 1 Gruppen): • Fremtind Forsikring (51,4 per cent), a non-life and personal insurance company headquartered in Oslo, reported a profit after tax of NOK 1,253 million (NOK 1,161 million) in the third quarter. • SpareBank 1 Forsikring (100 per cent) is a pension company headquartered in Oslo. The company mainly offers contribution-based occupational pensions, collective disability insurance and private pension saving. SpareBank 1 Forsikring reported a profit of NOK 55 million (NOK 82 million) in the third quarter. • SpareBank 1 Factoring (100 per cent) provides administrative and financial factoring services. The company is headquartered in Ålesund. The company posted a profit of NOK 19 million (NOK 17 million) in the third quarter. • Kredinor (69,0 per cent), Norway’s largest debt collection company, reported a profit before tax of NOK 143 million (NOK 100 million). SpareBank 1 Boligkreditt is a mortgage company that issues covered bonds secured by residential mortgages in order to achieve stable funding at low funding costs. The company reported a profit of NOK 66 million (NOK 200 million) in the quarter. SpareBank 1 SMN’s share of the profit in the quarter was NOK 11 million (NOK 41 million). SpareBank 1 Næringskreditt issues covered bonds secured by loans to commercial real estate in order to secure stable funding at low funding costs. The company reported a profit of NOK 12 million (NOK 13 million) in the quarter. SpareBank 1 SMN’s share of the profit in the quarter was NOK 2 million (NOK 2 million). BN Bank provides residential mortgage loans and loans to commercial real estate customers, with Eastern Norway as its primary market. The company reported a profit of NOK 159 million (NOK 210 million) in the quarter. SpareBank 1 SMN’s share of profit from BN Bank was NOK 52 million (NOK 70 million) in the quarter. SB1 Markets is a leading Nordic investment banking group offering equity and credit research, trading in equities and fixed-income instruments, and corporate finance services. The company, which is in a build-up phase of its operation in Sweden, reported a profit of NOK 7 million (NOK 32 million) in the quarter. SpareBank 1 SMN’s share of profit was NOK 2 million (NOK 12 million).
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9SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Kredittbanken offers unsecured financing to retail customers. The company reported a profit of NOK 8 million (NOK 17 million) in the quarter. SpareBank 1 SMN’s share of the profit in the third quarter was NOK 1 million (NOK 3 million). SpareBank 1 Betaling is the SpareBank 1 banks’ holding company in Vipps AS. The company reported a profit of NOK 2 million (NOK 10 million) in the quarter. SpareBank 1 SMN’s share of profit in the third quarter was NOK 0 million (NOK 2 million). SpareBank 1 Forvaltning delivers products and services to a broad customer base within asset management and securities services. The company reported a profit of NOK 64 million (NOK 66 million) in the quarter. SpareBank 1 SMN’s share of profit in the third quarter was NOK 12 million (NOK 14 million). Operating expenses The Group’s target is a cost-income ratio below 40 per cent in the parent bank and below 85 per cent in the subsidiaries EiendomsMegler 1 Midt-Norge and SpareBank 1 Regnskapshuset SMN. The cost-income ratio is defined as operating expenses as a percentage of net interest income and commission and other income. The cost-income ratio in the bank was 37.7 per cent in the quarter (33.5 per cent). The corresponding figures for EiendomsMegler 1 Midt-Norge and SpareBank 1 Regnskapshuset SMN were 90.9 per cent (87.5 per cent) and 106.8 per cent (103.8 per cent) respectively. The cost-to-income ratio over the last four quarters was 88.1 per cent (89.0 per cent) for EiendomsMegler 1 Midt-Norge and 89.6 per cent (89.6 per cent) for SpareBank 1 Regnskapshuset SMN. Operating expenses (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Staff costs 558 528 525 IT costs 128 134 104 Marketing 40 43 37 Ordinary depreciation 46 46 47 Operating expenses, real estate 20 22 19 Wealth tax -8 - - Purchased services 65 62 63 Other operating expense 62 54 59 Total operating expenses 913 889 854 Total operating expenses in the Group increased by NOK 24 million compared with the previous quarter. Compared with the corresponding quarter last year, expenses increased by NOK 59 million. Year to date, the Group’s costs increased by NOK 60 million, corresponding to 2.2 per cent. Expenses in the parent bank increased by NOK 12 million compared with the second quarter. The increase should be viewed partly in the context of normalisation of staff costs after a positive accrual effect related to holiday leave in the second quarter. By the end of September, 57 per cent of employees who left the bank in 2026 had been replaced. In addition to reducing headcount, the bank has changed the composition of its competencies during the year in line with developments in areas including artificial intelligence. In the third quarter, costs were reduced by NOK 8 million due to wealth tax assessed at a lower level than provided for in the previous year. Compared with the third quarter of 2025, the bank’s costs increased by NOK 31 million, or 6.0 per cent. Year to date, costs in the bank are unchanged from 2025. The subsidiaries’ costs increased by NOK 7 million from the previous quarter, while staff costs increased by NOK 14 million. Compared with the third quarter of 2025, the subsidiaries’ costs increased by NOK 28 million, driven in part by acquisitions in SpareBank 1 Regnskapshuset SMN and the Group’s focus on commercial real estate brokerage. From the first quarter of 2026, a larger share of costs related to SpareBank 1 Utvikling has been allocated to IT costs, reducing purchased services. Rental costs for SpareBank 1 Regnskapshuset SMN have also been reclassified with effect from the first quarter of 2026. This results in a quarterly increase of approximately NOK 4 million in income and a corresponding increase in Group costs. Losses on loans and guarantees The Group’s losses on loans and guarantees amounted to NOK 17 million (NOK 27 million) in the third quarter of 2026. Losses (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Retail market (parent bank) 4 9 7 Corporate market (parent bank) 7 18 11 SpareBank 1 Finans Midt-Norge 6 8 9 Total losses 17 35 27 Losses in the quarter comprised NOK 16 million in stage 1 and 2 impairments, and NOK 1 million in stage 3 losses. Losses for the period represented 0.03 per cent of total lending (0.04 per cent). Total impairment provisions on loans and guarantees amounted to NOK 990 million as at 30 September 2026 (NOK 870 million), equivalent to 0.37 per cent (0.34 per cent) of gross lending. Credit quality in the Bank’s loan portfolio remains sound. The portfolio comprised NOK 183,224 million (NOK 182,977 million) in stage 1 and stage 2 exposures and NOK 2,277 million (NOK 2,204 million) in stage 3 exposures. Stage 3 exposures account for 0.85 per cent of gross lending.
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10SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Results from business areas In the SpareBank 1 SMN Group, Retail Banking, Corporate Banking and subsidiaries of key significance are defined as business areas. The Group’s strategy of leveraging its breadth and increasing collaboration across business areas stands firm. Retail market Retail Banking achieved a profit before tax of NOK 416 million (NOK 478 million) in the third quarter of 2026. The retail portfolio consists of wage earners and sole proprietorships. RM, Profit and loss account (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Net interest 580 557 581 Commission income and other income 180 164 233 Total income 760 721 814 Total operating expenses 340 333 329 Ordinary operating profit 420 388 485 Loss on loans, guarantees etc. 4 9 7 Result before tax including held for sale 416 379 478 Balance Loans and advances to customers 176,368 174,091 167,181 Adv.of this sold to SB1 Boligkreditt and SB1 Næringskreditt −80,762 −76,663 −67,974 Deposits to customers 76,102 77,728 71,630 Key figures Lending margin 0.63 0.55 1.23 Deposit margin 1.60 1.50 1.15 Lending growth in the quarter was 1.3 per cent and deposit decline was 2.1 per cent. The corresponding figures in the third quarter of 2025 were 1.3 per cent and reduction of 2.0 per cent, respectively. Retail Banking prioritises balanced growth, reflected in 12-month growth of 5.5 per cent in lending and 6.2 per cent in deposits. A strong focus on deposits in customer advisory services contributes to robust earnings and strengthens customers’ financial resilience through increased buffer capital. Direct credit risk in the retail portfolio remains low, which is reflected in low losses. The distribution model has been improved through co-location in finance centres, a transition from personal advisers to customer teams, and closer interaction between physical and digital advisory channels. Artificial intelligence has been introduced to produce meeting summaries and improve the quality of customer interactions. EiendomsMegler 1 Midt-Norge is the market leader in Trøndelag and Møre og Romsdal. The company reported a profit before tax of NOK 15 million (NOK 21 million) in the third quarter. EiendomsMegler 1 Midt-Norge (92.4%) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Total income 167 196 166 Total operating expenses 152 148 146 Result before tax (NOKm) 15 48 21 Operating margin 9% 25% 12% Activity levels at EiendomsMegler 1 Midt-Norge remain high, but the number of sales and new assignments decreased compared with the corresponding quarter last year. The acquisition of SPG Corporate Finance strengthens Norion’s presence in the Oslo market and is an important step in the company’s ambition to become a leading national player in commercial real estate brokerage. From the fourth quarter of 2026, Norion will be a subsidiary of SpareBank 1 SMN. The company completed 1,677 sales during the quarter (1,811) while new assignments totalled 1,891 (1,973). Market share year to date was 35.4 per cent, compared with 37.8 per cent in 2025. Corporate market Corporate Banking achieved a profit before tax of NOK 507 million in the third quarter of 2026 (NOK 590 million). The portfolio consists of corporate and agricultural customers. CM, Profit and loss account (NOKm) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Net interest 608 593 673 Commission income and other income 101 102 106 Total income 709 695 779 Total operating expenses 196 189 178 Ordinary operating profit 513 506 601 Loss on loans, guarantees etc. 7 18 11 Result before tax including held for sale 507 487 590
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11SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD Balance Loans and advances to customers 78,134 76,514 73,796 Adv.of this sold to SB1 Boligkreditt and SB1 Næringskreditt −2,018 −1,586 −1,799 Deposits to customers 72,988 75,471 76,418 Key figures Lending margin 2.16 2.17 2.61 Deposit margin 0.64 0.67 0.53 Corporate lending increased by 2.1 per cent during the quarter (decrease of 0.2 per cent) while deposits decreased by 3.3 per cent (growth of 2.1 per cent). An intensified focus on Trondheim and increased cooperation with SpareBank 1 Regnskapshuset SMN are intended to support Corporate Banking in gaining market shares in Central Norway. The Oslo establishment is developing as planned and contributes to lending growth in selected industries in which SpareBank 1 SMN has expertise and experience. SpareBank 1 Regnskapshuset SMN is the market leader in Trøndelag and Møre og Romsdal. The company achieved a profit before tax of NOK −13 million (NOK −7 million). SpareBank 1 Regnskapshuset SMN (93.3%) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Total income 185 253 172 Total operating expenses 198 194 179 Result before tax (NOKm) -13 59 -7 Operating margin −7% 23% −4% SpareBank 1 Regnskapshuset SMN has continued its change programme to develop the accounting advisers of the future, combined with implementation of new cloud-based solutions and an increased share of subscription-based revenue. Significant investment in the advisory organisation is essential to achieving the objective of remaining companies’ closest sparring partner. Through the acquisition of Statera Accounting and a stronger focus on specialist advisory services, SpareBank 1 Regnskapshuset SMN aims to strengthen its position as a leading provider of accounting and advisory services in the region, while contributing to the Group’s financial ambitions through close cooperation with the bank’s Corporate Banking Division. SpareBank 1 SMN is in a unique position to deliver a customer experience that differentiates it from other providers. SpareBank 1 Finans Midt-Norge delivers leasing and invoice purchases for businesses, as well as car financing for retail customers. The company reported a profit before tax of NOK 65 million (NOK 66 million). SpareBank 1 Finans Midt-Norge (64.8%) 3rd quarter 2026 2nd quar- ter 2026 3rd quarter 2025 Total income 119 122 110 Total operating expenses 49 35 36 Loss on loans, guarantees etc. 6 8 9 Result before tax (NOKm) 65 79 66 The company holds a market share of approximately 10 per cent in secured consumer lending in the counties where the owner banks are represented. SpareBank 1 SMN Invest owns shares and interests in regional growth companies and funds. The portfolio is managed together with the Bank’s other strategic equity holdings and will gradually be reduced over time. At 30 September 2026, the securities portfolio had a value of NOK 585 million (NOK 616 million). The company reported a profit before tax of NOK 22 million (NOK 26 million) in the third quarter of 2026. Results from first nine months 2026 SpareBank 1 SMN achieved net profit of NOK 2,982 million (NOK 3,305 million) and return on equity of 13.2 per cent (15.3 per cent) as at 30 September. Profit per equity certificate was NOK 13.03 (NOK 14.49). Net interest income was NOK 3,744 million (NOK 3,993 million), a decrease of 6.3 per cent. Norges Bank raised the policy rate to 4.25 per cent in May 2026 and further to 4.50 per cent in September 2026. SpareBank 1 SMN has announced an interest rate change effective from 30 November. Net commission and other income amounted to NOK 2,004 million (NOK 2,059 million). Commissions excluding mortgage companies increased by NOK 71 million, corresponding to 4.0 per cent. Income from insurance, accounting services and real estate brokerage contributed most to the increase. Commissions from the mortgage companies decreased by NOK 126 million, a decline of 44 per cent, due to higher financing costs. The Group’s costs amounted to NOK 2,730 million (NOK 2,671 million) as at 30 September. Costs in the bank are unchanged compared with 2025. The second quarter of 2025 included a one-off cost of NOK 47 million related to Tieto. Losses on loans and guarantees remain at a moderate level, at NOK 152 million year to date (NOK 80 million). Year-to-date losses on loans and guarantees were NOK 19 million for the bank’s retail customers, NOK 92 million for the bank’s corporate customers and NOK 41 million for SpareBank 1 Finans Midt-Norge. Lending growth in the Group was 5.2 per cent (3.2 per cent) over the past 12 months. Lending to the bank’s retail customers increased by 5.5 per cent and lending to the bank’s corporate clients increased by 5.9 per cent over the same period. Deposits increased
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12SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD by 0.9 per cent (7.9 per cent) over the past 12 months. Deposits from retail customers increased by 6.2 per cent, while deposits from corporate customers decreased by 4.5 per cent. Balance sheet, funding and liquidity Total assets The Group’s total assets amounted to NOK 245.6 billion at the end of the third quarter of 2026 (NOK 254.1 billion) representing a decrease of 3.4 per cent over the last twelve months. As at 30 September 2026, loans totalling NOK 82.8 billion (NOK 69.8 billion) had been sold from SpareBank 1 SMN to SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt. These loans are not recognised on the Bank’s balance sheet. All comments regarding lending growth include loans sold to the mortgage companies. Loans Gross lending increased by NOK 13.3 billion, over the last twelve months, corresponding to growth of 5.2 per cent and totalled NOK 268.3 billion (255.0 billion) at quarter-end. Lending growth in the quarter was 1.3 per cent (0.8 per cent). Lending to retail customers increased by NOK 2.3 billion during the quarter (NOK 2.2 billion), corresponding to growth of 1.3 per cent (1.3 per cent). Twelve-month lending growth was 5.5 per cent. Total lending to retail customers amounted to NOK 176.4 billion (NOK 167.2 billion) at 30 September 2026. Lending to corporate customers increased by NOK 1.6 billion during the quarter (decrease of NOK 0.1 billion), corresponding to growth of 2.1 per cent (0.0 per cent). Over the last twelve months, lending growth was 5.9 per cent. Total lending to corporate customers amounted to NOK 78.1 billion (NOK 73.8 billion) at 30 September 2026. Gross lending at SpareBank 1 Finans Midt-Norge amounted to NOK 13.7 billion (NOK 13.6 billion) at the end of the third quarter of 2026. Gross lending increased by 0.9 per cent over the last twelve months. (Distributed by sector, see Note 5). Deposits Customer deposits amounted to NOK 150.3 billion (NOK 149.0 billion) as at 30 September 2026. Deposits decreased in the quarter by 3.5 per cent (decrease of 0.3 per cent). Deposits from retail customers decreased by NOK 1.6 billion during the quarter (decrease of NOK 1.5 billion), corresponding to a decline of 2.1 per cent (decline of 2.0 per cent). Deposit growth over the last twelve months was 6.2 per cent. Total deposits from retail customers amounted to NOK 76.1 billion (NOK 71.6 billion) at quarter-end. Deposits from corporate customers decreased by NOK 2.5 billion during the quarter (growth of NOK 1.6 billion), corresponding to a decline of 3.3 per cent (growth of 2.1 per cent). Deposits decreased by 4.5 per cent over the last twelve months. Total deposits from corporate customers in the bank amounted to NOK 73.0 billion (NOK 76.4 billion) as at 30 September 2026. (Distributed by sector, see Note 9). Funding and liquidity SpareBank 1 SMN maintains a strong liquidity position and good access to funding. The Bank follows a conservative liquidity strategy, maintaining liquidity reserves sufficient to ensure twelve months of ordinary operations without the need for new external funding. The Bank is required to maintain adequate liquidity buffers to withstand periods of restricted access to market funding. The Liquidity Coverage Ratio (LCR), which measures banks’ liquid assets relative to net liquidity outflows over a 30-day stress scenario, was 146 per cent (176 per cent) as at 30 September 2026. The Group’s deposit-to-loan ratio, including loans sold to SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt, was 56 per cent (58 per cent) at quarter-end. The Bank maintains a well-diversified funding structure across funding sources and products. The share of total market funding with a remaining maturity of more than one year was 73 per cent (71 per cent) at the end of the third quarter. SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt remain important funding sources for the Bank. Loans totalling NOK 83 billion (70 billion) had been sold to the mortgage companies as at 30 September 2026. SpareBank 1 SMN had outstanding SNP debt totalling NOK 15.8 billion at 30 September 2026. Subordinated MREL stood at 32.0 per cent as at 30 September 2026, and the Bank met the subordination requirement. Rating The Bank’s rating from Moody’s is Aa3 with a stable outlook, latest update June 2026. Solvency The Common Equity Tier 1 (CET1) capital ratio was 17.1 per cent (17.8 per cent) as at 30 September 2026 compared with 17.0 per cent at 30 June 2026. In the fourth quarter of 2025, SpareBank 1 SMN received a revised Pillar 2 requirement of 1.6 per cent of the Group’s risk-weighted assets. At least 56.25 per cent of the requirement must be met with Common Equity Tier 1 capital, while 75 per cent must be met with Tier 1 capital. In addition, the Financial Supervisory Authority of Norway has established a Pillar 2 Guidance (P2G) expectation corresponding to at least 1.0 per cent of the Group’s risk- weighted assets.
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13SPAREBANK 1 SMN | THIRD QUARTER | 2026 | REPORT OF BOD The leverage ratio was 7.0 per cent as at 30 September 2026 (7.1 per cent) demonstrating that the Bank remains well capitalised. Further details are provided in Note 4. The Bank’s equity certificate (MING) Book value per equity certificate was NOK 135.18 as at 30 September 2026 (NOK 131.03), while earnings per equity certificate in the third quarter were NOK 4.19 (5.19). The price-to-earnings ratio was 12.52 (10.00) and the price-to-book ratio was 1.61 (1.48). At the end of the third quarter of 2026, the number of holders of the Bank’s equity certificates was 22,276. Foreign investors held 27.5 per cent of the equity certificates, while 26.8 per cent were owned by investors in Central Norway. Outlook SpareBank 1 SMN delivered return on equity of 13.2 per cent year to date. Norges Bank raised the policy rate in both May and September 2026 and signals that the rate will remain high for a period ahead. Strongly capitalised banks and relatively low credit growth are creating strong competition. Following the rate increase in September, SpareBank 1 SMN notified its customers of an interest rate increase. The rate change is expected to contribute positively to net interest income going forward. Leading digital services, a broad product range, a strong local presence through 26 finance centres and in-depth knowledge of customers in the region provide a good basis for creating customer value and increasing the Group’s market shares. Further development of synergies between the Group’s business areas will remain important in strengthening and diversifying the Group’s income. Associated companies contribute to value creation and diversification of the Group’s income. Results from financial instruments will over time be affected by developments in credit markets and other market conditions and may therefore vary between quarters. Efficient operations are central to delivering on the financial targets. Costs in the bank year to date are unchanged compared with the first three quarters of 2025, and the target of replacing 50 per cent of employees who leave remains unchanged. The Board expects to deliver on the cost growth target for 2026, with low cost growth in the bank. Cost developments in the subsidiaries will vary to a greater extent with activity levels and market conditions. SpareBank 1 SMN has a diversified and robust loan portfolio with good credit quality, with approximately two-thirds of exposure to wage earners. The bank has good liquidity and access to funding. At the end of the third quarter, the CET1 capital ratio was 17.1 per cent, compared with a long-term target of 15.9 per cent. The Group is well positioned to deliver on its overarching financial target of return on equity above 13 per cent over time. Trondheim, 28 October 2026 The Board of Directors of SpareBank 1 SMN Kjell Bjordal Christian Stav Ingrid Finboe Svendsen Chair Deputy Chair Freddy Aursø Nina Olufsen Marit Arnstad Kristian Sætre Inge Lindseth Christina Straub Employee rep. Employee rep Jan-Frode Janson Group CEO
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14SPAREBANK 1 SMN | THIRD QUARTER | 2026 | INCOME STATEMENT 14 Income Statement Parent bank Group 3rd quarter Jan - September Jan - September 3rd quarter 2025 2025 2026 2025 2026 (NOKm) Note 2026 2025 2026 2025 2025 11,072 2,802 2,719 8,370 7,854 Interest income effective interest method 8,276 8,790 2,850 2,940 11,644 2,220 538 553 1,716 1,506 Other interest income 1,501 1,711 551 536 2,213 8,503 2,139 2,107 6,499 6,026 Interest expenses 6,033 6,507 2,109 2,139 8,514 4,789 1,202 1,165 3,587 3,334 Net interest 10 3,744 3,993 1,292 1,337 5,343 1,451 372 329 1,078 990 Commission income 1,250 1,318 412 450 1,757 155 41 52 107 120 Commission expenses 169 174 68 65 243 62 13 13 44 37 Other operating income 923 915 263 255 1,170 1,358 344 290 1,015 906 Commission income and other income 11 2,004 2,059 606 640 2,684 812 4 4 795 1,421 Dividends 7 11 1 2 25 - - - - - Income from investment in related companies 3 770 740 204 278 1,017 33 33 -11 23 33 Net return on financial investments 13 36 70 10 73 81 845 38 -7 819 1,454 Net return on financial investments 813 821 216 353 1,123 6,993 1,584 1,448 5,421 5,694 Total income 6,561 6,873 2,114 2,330 9,150 1,072 263 276 802 820 Staff costs 1,647 1,594 558 525 2,109 1,140 254 273 839 822 Other operating expenses 12 1,084 1,076 355 329 1,452 2,212 518 549 1,642 1,642 Total operating expenses 2,730 2,671 913 854 3,561 4,781 1,066 899 3,779 4,051 Result before losses 3,830 4,202 1,201 1,476 5,589 105 18 11 52 112 Loss on loans, guarantees etc. 6, 7 152 80 17 27 140 4,676 1,047 888 3,727 3,940 Result before tax 3 3,678 4,123 1,184 1,448 5,449 958 254 212 713 606 Tax charge 696 807 230 275 1,072 - - - - - Result investment held for sale, after tax 2, 3 0 -11 1 -2 -11 3,718 793 676 3,014 3,333 Net profit 2,982 3,305 954 1,171 4,367 153 32 31 109 101 Attributable to additional Tier 1 Capital holders 107 115 33 34 161 2,381 509 431 1,940 2,159 Attributable to Equity capital certificate holders 1,880 2,090 604 748 2,751 1,183 253 214 964 1,073 Attributable to the saving bank reserve 934 1,038 300 372 1,367 - - - - - Attributable to non-controlling interests 61 63 17 18 88 3,718 793 676 3,014 3,333 Net profit 2,982 3,305 954 1,171 4,367 Profit/diluted profit per ECC 19 13.03 14.49 4.19 5.19 19.08
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15SPAREBANK 1 SMN | THIRD QUARTER | 2026 | INCOME STATEMENT 15 Total comprehensive Income Parent bank Group 3rd quarter January - Septem- ber January - Septem- ber 3rd quarter 2025 2025 2026 2025 2026 (NOKm) Note 2026 2025 2026 2025 2025 3,718 793 676 3,014 3,333 Net profit 2,982 3,305 954 1,171 4,367 Items that will not be reclassified to profit/loss -22 - - - - Actuarial gains and losses pensions - - - - -22 5 - - - - Tax - - - - 5 - - - - - Share of other comprehensive income of associates and joint venture 16 6 1 1 9 -16 - - - - Total 16 6 1 1 -8 Items that will be reclassified to profit/loss -12 1 1 -2 5 Fair value change on financial assets through other comprehensive income 5 -2 1 1 -12 - - - - - Value changes on loans measured at fair value 18 71 33 41 87 -12 1 1 -2 5 Total 23 69 34 42 75 -28 1 1 -2 5 Net other comprehensive income 39 75 35 43 67 3,690 795 677 3,011 3,338 Total comprehensive income 3,021 3,380 989 1,215 4,434 153 32 31 109 101 Attributable to additional Tier 1 Capital holders 107 115 33 34 161 2,363 510 432 1,939 2,162 Attributable to Equity capital certificate holders 1,906 2,139 627 777 2,796 1,174 253 214 964 1,074 Attributable to the saving bank reserve 947 1,063 312 386 1,389 - - - - - Attributable to non-controlling interests 61 63 17 18 88 3,690 795 677 3,011 3,338 Total comprehensive Income 3,021 3,380 989 1,215 4,434
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16SPAREBANK 1 SMN | THIRD QUARTER | 2026 | BALANCE SHEET 16 Balance Sheet Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) Note 30/09/2026 30/09/2025 31/12/2025 56 1,081 854 Cash and receivables from central banks 854 1,081 56 13,317 21,294 12,741 Deposits with and loans to credit institutions 1,630 10,304 2,226 170,059 171,051 171,110 Net loans to and receivables from customers 5 184,535 184,339 183,495 35,219 35,084 36,553 Fixed-income CDs and bonds 17 36,553 35,084 35,219 5,621 6,140 6,058 Derivatives 17 6,058 6,140 5,621 838 563 775 Shares, units and other equity interests 17 1,231 1,052 1,328 7,362 7,207 7,852 Investment in related companies 11,352 10,782 11,234 2,391 2,391 2,475 Investment in group companies - - - 98 98 98 Investment held for sale 2 84 179 175 775 774 756 Intangible assets 1,376 1,249 1,251 1,662 3,247 1,187 Other assets 14 1,907 3,929 2,308 237,398 248,930 240,458 Total assets 245,579 254,140 242,914
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17SPAREBANK 1 SMN | THIRD QUARTER | 2026 | BALANCE SHEET 17 Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) Note 30/09/2026 30/09/2025 31/12/2025 9,584 10,368 6,811 Deposits from credit institutions 6,811 10,368 9,584 146,778 149,559 150,847 Deposits from and debt to customers 9 150,259 148,986 146,165 29,121 35,722 26,505 Debt created by issue of securities 16 26,505 35,722 29,121 15,392 15,126 15,759 Subordinated debt 15,759 15,126 15,392 4,481 4,717 5,860 Derivatives 17 5,860 4,717 4,481 2,577 4,608 4,385 Other liabilities 15 5,261 5,510 3,457 - - - Investment held for sale 2 2 1 1 2,770 2,770 3,274 Subordinated loan capital 16 3,353 2,849 2,848 210,703 222,870 213,441 Total liabilities 213,809 223,279 211,050 2,884 2,884 2,884 Equity capital certificates 2,884 2,884 2,884 -0 -0 -0 Own holding of ECCs -0 -0 -0 2,422 2,422 2,422 Premium fund 2,422 2,422 2,422 9,168 8,722 9,167 Dividend equalisation fund 9,167 8,722 9,168 1,947 - - Recommended dividends - - 1,947 968 - - Provision for gifts - - 968 7,205 6,984 7,205 Ownerless capital 7,205 6,984 7,205 201 245 201 Unrealised gains reserve 201 245 201 - -1 5 Other equity capital 4,334 3,736 4,374 1,900 1,791 1,799 Additional Tier 1 Capital 1,888 1,881 1,996 3,014 3,333 Profit for the period 2,982 3,305 Non-controlling interests 685 682 700 26,695 26,060 27,017 Total equity 31,770 30,861 31,864 237,398 248,930 240,458 Total liabilities and equity 245,579 254,140 242,914
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18SPAREBANK 1 SMN | THIRD QUARTER | 2026 | CASH FLOW STATEMENT 18 Cash flow statement Parent bank Group January - September January - September 2025 2025 2026 (NOKm) 2026 2025 2025 −3,904 −4,803 −1,103 Decrease/(increase) loans to customers −1,135 −5,189 −4,448 10,386 7,806 7,369 Interest receipts from loans to customers 7,841 8,297 11,034 6,470 −1,498 566 Decrease/(increase) loans credit institutions 586 −1,126 6,942 1,105 862 606 Interest receipts from loans to credit institutions 541 785 1,017 5,378 5,998 1,927 Increase/(decrease) deposits from customers 1,952 6,013 5,353 −5,217 −1,841 −1,672 Interest payment on deposits from customers −1,634 −1,806 −5,171 −4,316 −3,589 −2,788 Increase/(decrease) debt to credit institutions −2,788 −3,589 −4,316 −507 −357 −238 Interest payment on debt to credit institutions −238 −357 −507 1,829 1,721 −2,281 Increase/(decrease) in short term investments −2,195 1,735 1,862 1,566 1,199 1,118 Interest receipts from short term investments 1,016 1,158 1,507 −92 −72 659 Increase/(decrease) in derivatives 659 −72 −92 −867 −867 −685 Interest receipts from derivatives −685 −867 −867 1,256 −636 1,453 Increase/(decrease) in other claims 2,531 358 2,580 −3,382 −495 −542 Increase/(decrease) in other debts −1,870 −1,632 −4,992 9,704 3,428 4,389 A) Net change in liquidity from operations 4,580 3,707 9,902 −62 −44 −36 Gross investment buildings/operating assets −70 −109 −148 196 196 278 Dividends from subsidiaries - - - −166 −166 −84 Payment of capital due to increase in shareholding in subsidiaries - - - 583 583 1,129 Dividends from associated companies and joint ventures 1,129 583 583 174 325 44 Proceeds from sale of shares of associated companies and joint ventures 39 232 190 -744 -740 -529 Payment for purchase of shares of associated companies and joint ventures −529 −740 −744 0 0 - Proceeds from shares held for sale 92 1 4 33 16 14 Dividends from other businesses 7 11 25 265 420 498 Reduction/sale of shares and ownership interests 550 443 286 −357 −309 −377 Increase/purchase of shares and ownership interests −381 −333 −382 −79 281 936 B) Net change in liquidity from investments 836 89 −186
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19SPAREBANK 1 SMN | THIRD QUARTER | 2026 | CASH FLOW STATEMENT 19 Parent bank Group January - September January - September 2025 2025 2026 (NOKm) 2026 2025 2025 3,535 3,120 9,521 Debt raised by issuance of covered bonds 9,521 3,120 3,535 −9,325 −2,610 −10,483 Repayment of issued covered bonds −10,483 −2,610 −9,325 −1,480 −926 −921 Interest payment on covered bonds issued −921 −926 −1,480 100 100 500 Debt raised by issuance of subordinated debt 500 100 100 −159 −117 −128 Interest payment on subordinated debt −132 −121 −165 1 1 0 Proceeds from sale or issue of treasury shares 0 1 1 −1,803 −1,803 −1,947 Dividends cleared −1,947 −1,803 −1,803 0 0 0 Dividends paid to non-controlling interests −81 −77 −77 −896 −896 −968 Disbursed from gift fund −968 −896 −896 150 150 0 Additional Tier 1 Capital issued 0 150 150 −193 -193 0 Repayment of Additional Tier 1 Capital 0 −193 −193 −153 −109 −101 Interest payments Additional Tier 1 capital −107 −115 −161 −10,223 −3,282 −4,527 C) Net change in liquidity from financial activities −4,619 −3,369 −10,314 −598 426 798 A) + B) + C) Net changes in cash and cash equivalents 798 426 −598 654 654 56 Cash and cash equivalents at 1.1 56 654 654 56 1,081 854 Cash and cash equivalents at end of the year 854 1,081 56 −598 426 798 Net changes in cash and cash equivalents 798 426 −598
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20SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 20 Statement of changes in equity Parent bank (January - September 2026) Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisation fund Dividend and gifts Un-reali- sed gains reserve Other equity Additional Tier 1 Capital Total equity Equity at 1 January 2026 2,884 2,422 7,205 9,168 2,915 201 - 1,900 26,695 Net profit - - - - - - 3,333 - 3,333 Other comprehensive income Financial assets through OCI - - - - - - 5 - 5 Other comprehensive income - - - - - - 5 - 5 Total comprehensive income - - - - - - 3,338 - 3,338 Transactions with owners Dividend declared for 2025 - - - - -1,947 - - - -1,947 To be disbursed from gift fund - - - - -968 - - - -968 Interest payments additional Tier 1 capital - - - - - - - -101 -101 Purchase and sale of own ECCs 0 - - -0 - - - - -0 Direct recognitions in equity - - - - - - 0 - 0 Total transactions with owners 0 - - -0 -2,915 - 0 -101 -3,016 Equity at 30 September 2026 2,884 2,422 7,205 9,167 - 201 3,338 1,799 27,017
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21SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 21 Parent bank (January - September 2025) Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisation fund Dividend and gifts Un-reali- sed gains reserve Other equity Additional Tier 1 Capital Total equity Equity at 1 January 2025 2,884 2,422 6,984 8,721 2,698 245 -0 1,943 25,898 Net profit - - - - - - 3,014 - 3,014 Other comprehensive income Financial assets through OCI - - - - - - -2 - -2 Other comprehensive income - - - - - - -2 - -2 Total comprehensive income - - - - - - 3,011 - 3,011 Transactions with owners Dividend declared for 2024 - - - - -1,803 - - - -1,803 To be disbursed from gift fund - - - - -896 - - - -896 Additional Tier 1 Capital - - - - - - - 150 150 Buyback additional Tier 1 Capital issued - - - - - - - -193 -193 Interest payments additional Tier 1 capital - - - - - - - -109 -109 Purchase and sale of own ECCs 0 - - 1 - - - - 1 Direct recognitions in equity - - - - - - 1 - 1 Total transactions with owners 0 - - 1 -2,698 - 1 -152 -2,849 Equity at 30 September 2025 2,884 2,422 6,984 8,722 - 245 3,012 1,791 26,060
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22SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 22 Parent bank (2025) Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisation fund Dividend and gifts Un-realised gains reserve Other equity Additional Tier 1 Capital Total equity Equity at 1 January 2025 2,884 2,422 6,984 8,721 2,698 245 -0 1,943 25,898 Net profit - - 221 446 2,915 -44 27 153 3,718 Other comprehensive income Value changes on loans measured at fair value - - - - - - -12 - -12 Actuarial gains (losses), pensions - - - - - - -16 - -16 Other comprehensive income - - - - - - -28 - -28 Total comprehensive income - - 221 446 2,915 -44 -1 153 3,690 Transactions with owners Dividend declared for 2024 - - - - -1,803 - - - -1,803 To be disbursed from gift fund - - - - -896 - - - -896 Additional Tier 1 Capital - - - - - - - 150 150 Buyback Additional Tier 1 Capital issued - - - - - - - -193 -193 Interest payments additional Tier 1 capital - - - - - - - -153 -153 Purchase and sale of own ECCs 0 - - 1 - - - - 1 Direct recognitions in equity - - - - - - 1 - 1 Total transactions with owners 0 - - 1 -2,698 - 1 -196 -2,893 Equity at 31 December 2025 2,884 2,422 7,205 9,168 2,915 201 - 1,900 26,695
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23SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 23 Group (January - September 2026) Attributable to parent company equity holders Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisati- on fund Dividend and gifts Un-reali- sed gains reserve Other equity Additio- nal Tier 1 Capital NCI1) Total equity Equity at 1 January 2026 2,884 2,422 7,205 9,168 2,915 201 4,375 1,996 700 31,865 Net Profit - - - - - - 2,921 - 61 2,982 Other comprehensive income Share of other comprehensive income of associates and joint ventures - - - - - - 34 - - 34 Value changes on loans measured at fair value - - - - - - 5 - - 5 Other comprehensive income - - - - - - 39 - - 39 Total comprehensive income - - - - - - 2,960 - 61 3,021 Transactions with owners Dividend declared for 2025 - - - - -1,947 - - - - -1,947 To be disbursed from gift fund - - - - -968 - - - - -968 Interest payments additional Tier 1 capital - - - - - - - -107 - -107 Purchase and sale of own ECCs 0 - - -0 - - - - - -0 Direct recognitions in equity - - - - - - 0 - - 0 Share of other transactions from associates and joint ventures - - - - - - -19 - - -19 Change in non-controlling interests - - - - - - - - -75 -75 Total transactions with owners 0 - - -0 -2,915 - -18 -107 -75 -3,116 Equity at 30 September 2026 2,884 2,422 7,205 9,167 - 201 7,316 1,888 685 31,770 1) Non-controlling interests
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24SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 24 Group (January - September 2025) Attributable to parent company equity holders Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisati- on fund Dividend and gifts Un-reali- sed gains reserve Other equity Additio- nal Tier 1 Capital NCI1) Total equity Equity at 1 January 2025 2,884 2,422 6,984 8,721 2,698 245 3,709 2,039 821 30,523 Net Profit - - - - - - 3,243 - 63 3,305 Other comprehensive income Share of other comprehensive income of associates and joint ventures - - - - - - 77 - - 77 Value changes on loans measured at fair value - - - - - - -2 - - -2 Other comprehensive income - - - - - - 75 - - 75 Total comprehensive income - - - - - - 3,317 - 63 3,380 Transactions with owners Dividend declared for 2025 - - - - -1,803 - - - - -1,803 To be disbursed from gift fund - - - - -896 - - - - -896 Additional Tier 1 Capital issued - - - - - - - 150 - 150 Buyback Additional Tier 1 Capital issued - - - - - - - -193 - -193 Interest payments additional Tier 1 capital - - - - - - - -115 - -115 Purchase and sale of own ECCs 0 - - 1 - - - - - 1 Direct recognitions in equity - - - - - - 3 - - 3 Share of other transactions from associates and joint ventures - - - - - - 12 - - 12 Change in non-controlling interests - - - - - - - - -202 -202 Total transactions with owners 0 - - 1 -2,698 - 15 -158 -202 -3,043 Equity at 30 September 2025 2,884 2,422 6,984 8,722 - 245 7,041 1,881 682 30,861 1) Non-controlling interests
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25SPAREBANK 1 SMN | THIRD QUARTER | 2026 | STATEMENT OF CHANGES IN EQUITY 25 Group (2025) Attributable to parent company equity holders Issued equity Earned equity (NOKm) EC capital Premium fund Ownerless capital Equalisati- on fund Dividend and gifts Un-reali- sed gains reserve Other equity Additio- nal Tier 1 Capital NCI1) Total equity Equity at 1 January 2025 2,884 2,422 6,984 8,721 2,698 245 3,709 2,039 821 30,523 Net profit - - 221 446 2,915 -44 580 161 88 4,367 Other comprehensive income Share of other comprehensive income of associates and joint ventures - - - - - - 95 - - 95 Value changes on loans measured at fair value - - - - - - -12 - - -12 Actuarial gains (losses), pensions - - - - - - -16 - - -16 Other comprehensive income - - - - - - 67 - - 67 Total comprehensive income - - 221 446 2,915 -44 647 161 88 4,434 Transactions with owners Dividend declared for 2024 - - - - -1,803 - - - - -1,803 To be disbursed from gift fund - - - - -896 - - - - -896 Additional Tier 1 Capital issued - - - - - - - 150 - 150 Buyback Additional Tier 1 Capital issued - - - - - - - -193 - -193 Interest payments additional Tier 1 capital - - - - - - - -161 - -161 Purchase and sale of own ECCs 0 - - 1 - - - - - 1 Direct recognitions in equity - - - - - - 6 - - 6 Share of other transactions from associates and joint ventures - - - - - - 12 - - 12 Change in non-controlling interests - - - - - - - - -209 -209 Total transactions with owners 0 - - 1 -2,698 - 18 -204 -209 -3,092 Equity at 31 December 2025 2,884 2,422 7,205 9,168 2,915 201 4,375 1,996 700 31,865 1) Non-controlling interests
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Foto forside: Eidsvatnet i Eidsdal, Møre og Romsdal Foto: Bondhusvatnet i Sunndal, Møre og Romsdal Notes Note 1: Accounting principles 27 Note 2: Critical estimates and assessment concerning the use of accounting principles 28 Note 3: Segment reporting 30 Note 4: Capital adequacy 33 Note 5: Distribution of loans by sector/industry 37 Note 6: Losses on loans and guarantees 38 Note 7: Provision for losses on loans and guarantees 39 Note 8: Gross loans 47 Note 9: Distribution of customer deposits by sector/industry 49 Note 10: Net interest income 50 Note 11: Net commission income and other income 51 Note 12: Operating expenses 52 Note 13: Net return on financial investments 53 Note 14: Other assets 54 Note 15: Other liabilities 55 Note 16: Debt created by issue of securities and subordinated debt 56 Note 17: Measurement of fair value of financial instruments 57 Note 18: Liquidity risk 60 Note 19: Earnings per ECC 61
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27SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Note 1: Accounting principles SpareBank 1 SMN prepares and presents its quarterly accounts in compliance with the Stock Exchange Regulations, Stock Exchange Rules and International Financial Reporting Standards (IFRS) approved by EU, including IAS 34, Interim Financial Reporting. The quarterly accounts do not include all the information required in a complete set of annual financial statements and should be read in conjunction with the annual accounts for 2025. The Group has in this quarterly report used the same accounting principles and calculation methods as in the latest annual report and accounts
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28SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Note 2: Critical estimates and assessments concerning the use of accounting principles When it prepares the consolidated accounts the management team makes estimates, discretionary assessments and assumptions which influence the application of accounting principles. This accordingly affects recognised amounts for assets, liabilities, revenues and expenses. Last year’s annual accounts give a closer explanation of significant estimates and assumptions in Note 3: Critical estimates and assessments concerning the use of accounting principles. In the first quarter of 2026, a reclassification of commission expenses was carried out in EiendomsMegler 1 Midt-Norge. This results in an increase in income from real estate brokerage of approximately NOK 15 million per quarter, with a corresponding increase in costs. Historical figures have been restated in Notes 3, 11 and 12 Investments held for sale SpareBank 1 SMN’s strategy is that ownership due to defaulted exposures should at the outset be of brief duration, normally not longer than one year. Investments are recorded at fair value in the Parent bank’s accounts, and are classified as investment held for sale. January - September (2026) Assets Liabili- ties Revenue Expenses Profit Owners- hip share Mavi XV AS Group 84 2 10 -10 0 100% Total held for sale 84 2 10 -10 0 Losses on loans and guarantees For a detailed description of the bank’s impairment model, refer to Note 10 in the annual accounts for 2025. Measurement of expected credit loss for each stage requires information on both events and current conditions, as well as expected events and future economic conditions. Estimation and use of forward-looking information require a high degree of judgement. Each macroeconomic scenario applied includes a projection over a five-year period. For credit exposures where credit risk has been assessed to have increased significantly since approval (stage 2), loss estimates for the period after year 5 are based on year 5 levels for PD and LGD. Our estimate of expected credit loss in stage 1 and stage 2 represents a probabilityweighted average of three scenarios: the Base, Low and High scenarios. The model used to calculate model-based impairments is based on two macroeconomic variables – the interest rate level (three-month NIBOR) and unemployment (AKU). The assumptions underlying the base scenario are based on the assumptions in Norges Bank’s Monetary Policy Report 3/26; however, the bank makes its own assessments of these assumptions. The assumed interest rate path in the base scenario has been raised by 10–20 basis points compared with the previous quarter, in line with Norges Bank’s updated projections. There are negligible changes to the unemployment assumptions in our base scenario. These changes result in a somewhat higher calculated impairment level. The low scenario is characterised by high interest rates and high unemployment and is largely based on the Financial Supervisory Authority’s stress test presented in Financial Outlook, June 2025. The high scenario represents a situation with low interest rates and low unemployment Calculation of the Group’s total model-based impairments is based on sub-calculations of ECL (expected credit loss) for five portfolios. For each portfolio, separate assumptions are defined regarding how the macroeconomic variables interest rate and unemployment affect PD and LGD. The relationships between the macroeconomic variables and PD are developed using regression analysis and simulation, while the relationships between the macroeconomic variables and LGD are largely based on expert assessments and discretionary judgement. The relationships between the level of the macroeconomic variables and the level of PD in the model are recalibrated annually based on updated default statistics up to and including the preceding calendar year. The five portfolios are: • Residential mortgages • Other retail loans • Agriculture • Industries with large balance sheets / high long-term debt ratios (real estate, shipping, offshore, aquaculture, fishery) • Industries with smaller balance sheets / low long-term debt ratios (other industries) The bank’s criteria for classification of accounts to stage 2 are: • PD increase of 150 per cent or more since approval. For the corporate portfolio, customers are exempted from classification to stage 2 where the PD level is 0.6 per cent or lower and no other stage 2 criteria are met. • Payment past due of 30–90 days • Marked with forbearance • Marked with watchlist In addition, exposures corresponding to the entry point for classification in the weakest non-default risk class shall be classified to stage 2 irrespective of the change in PD since approval. Customers within the building and construction industry (including industry segments with significant exposure to building and construction and building-materials
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29SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 29 trade) are generally assessed to have experienced a significant increase in credit risk since approval and performing exposures in these industries are therefore classified in stage 2. Expected credit loss (ECL) as at 30 September 2026 is calculated as a combination of 80 per cent probability for the base scenario, 10 per cent probability for the low scenario and 10 per cent probability for the high scenario (80/10/10 per cent). The effect of changes in assumptions in the first nine months of 2026 is presented on the line “Change due to updated assumptions in the impairment model” in Note 7. In total for the first nine months of 2026, this amounts to NOK 40 million for the bank and NOK 18 million for the Group in increased impairments. Sensitivity The first part of the table below shows total calculated expected credit loss as of 30 September 2026 in each of the three scenarios distributed in the portfolios retail market (RM) corporate market (CM), and agriculture which adds up to parent bank. In addition the subsidiary SpareBank 1 Finans Midt-Norge (SB1 Finans MN) is included. ECL for the parent bank and the subsidiary is summed up in the column ”Total Group”. The second part of the table show the ECL distributed by portfolio using the scenario weight applied, in addition to an alternative weighting where downside-scenario probability has been doubled. If the downside scenario’s probability were doubled at the expense of the baseline scenario at end of first nine months 2026 this would have entailed an increase in loss provisions of NOK 87 million for the parent bank and NOK 96 million for the Group. CM RM Total Parent SB 1 Finans MN CM SB 1 Finans MN RM Total Group ECL base case 672 119 96 888 52 17 957 ECL worst case 1 321 263 178 1 763 114 45 1 922 ECL best case 398 89 68 554 27 11 592 ECL with scenario weights used 80/10/10 710 131 101 942 56 19 1 017 ECL alternative scenario weights 70/20/10 775 145 110 1 029 62 22 1 114 Changes in ECL due to alternative weights 65 14 8 87 6 3 96 The table reflects that there are some significant differences in underlying PD and LGD estimates in the different scenarios and that there are differentiated levels and level differences between the portfolios. At Group level, the ECL in the upside scenario, which largely reflects the loss and default picture in recent years, is about 62 per cent of the ECL in the expected scenario. The downside scenario gives about double the ECL than in the expected scenario. Applied scenario weighting gives 6 per cent higher ECL than in the expected scenario.
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30SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 30 Note 3: Operating segments For the subsidiaries the figures refer to the respective company accounts, while for associated companies incorporated by the equity method the Group’s profit share is stated after tax. Group (3. quarter 2026) Income statement (NOKm) Retail market Corporate market EM 1 SB 1 Finans MN SB 1 Regnskapshuset SMN Other Uncollated Total Net interest 452 506 -1 133 1 - 203 1,292 Interest from allocated capital 129 102 - - - - -230 - Total interest income 580 608 -1 133 1 - -27 1,292 Commission income and other income 180 98 168 -13 184 - -4 606 Net return on financial investments 1) -0 4 0 - - 204 8 216 Total income 760 709 167 119 185 204 -23 2,114 Total operating expenses 340 196 152 49 198 - -13 913 Ordinary operating profit 420 513 15 71 -13 204 -10 1,201 Loss on loans, guarantees etc. 4 7 - 6 - - -0 17 Result before tax 416 507 15 65 -13 204 -10 1,184 Group (3. quarter 2025) Income statement (NOKm) Retail market Corporate market EM 1 SB 1 Finans MN SB 1 Regnskapshuset SMN Other Uncollated Total Net interest 476 592 1 136 1 - 131 1,337 Interest from allocated capital 104 81 - - - - -186 - Total interest income 581 673 1 136 1 - -55 1,337 Commission income and other income 233 102 165 -26 171 - -5 641 Net return on financial investments 1) 0 3 -0 - - 278 71 353 Total income 814 779 166 110 172 278 11 2,330 Total operating expenses 329 178 146 36 179 - -12 855 Ordinary operating profit 485 601 21 75 -7 278 23 1,476 Loss on loans, guarantees etc. 7 11 - 9 - - -0 27 Result before tax 478 590 21 66 -7 278 23 1,448
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31SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 31 Group first nine months 2026 Income statement (NOKm) Retail market Corporate market EM 1 SB 1 Finans MN SB 1 Regnskapshuset SMN Other Uncollated Total Net interest 1,237 1,487 -1 416 4 - 396 3,744 Interest from allocated capital 376 293 - - - - -439 - Total interest income 1,613 1,781 -1 416 4 - -42 3,744 Commission income and other income 583 297 513 -55 686 - -16 2,004 Net return on financial investments 1) 1 12 -0 0 - 770 22 813 Total income 2,196 2,089 513 361 690 770 -36 6,561 Total operating expenses 1,019 583 441 125 598 - -22 2,730 Ordinary operating profit 1,177 1,506 72 236 92 770 -13 3,830 Loss on loans, guarantees etc. 19 93 - 41 - - -0 152 Result before tax 1,158 1,413 72 196 92 770 -13 3,678 Group first nine months 2025 Income statement (NOKm) Retail market Corporate market EM 1 SB 1 Finans MN SB 1 Regnskapshuset SMN Other Uncollated Total Net interest 1,392 1,724 1 410 3 - 464 3,993 Interest from allocated capital 318 249 - - - - -567 - Total interest income 1,710 1,973 1 410 3 - -103 3,993 Commission income and other income 681 298 496 -74 663 - -6 2,059 Net return on financial investments 1) 0 13 1 - - 740 67 821 Total income 2,391 2,284 498 335 666 740 -41 6,873 Total operating expenses 1,040 565 428 106 564 - -32 2,671 Ordinary operating profit 1,350 1,719 70 229 103 740 -9 4,202 Loss on loans, guarantees etc. 5 47 - 27 - - -0 80 Result before tax 1,345 1,672 70 202 103 740 -9 4,123
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32SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 32 Group 2025 Income statement (NOKm) Retail market Corporate market EM 1 SB 1 Finans MN SB 1 Regnskapshuset SMN Other Uncollated Total Net interest 1,868 2,314 2 558 4 - 597 5,343 Interest from allocated capital 420 329 - - - - -749 - Total interest income 2,288 2,643 2 558 4 - -152 5,343 Commission income and other income 916 399 636 -99 846 - -14 2,684 Net return on financial investments 1) 1 12 1 - - 1,017 92 1,123 Total income 3,205 3,053 639 459 850 1,017 -74 9,150 Total operating expenses 1,383 742 563 136 744 - -6 3,561 Ordinary operating profit 1,822 2,312 76 323 106 1,017 -68 5,589 Loss on loans, guarantees etc. -5 109 - 36 - - -0 140 Result before tax 1,827 2,203 76 288 106 1,017 -68 5,449 Third quarter January - September 1) Specification of other (NOKm) 2026 2025 2026 2025 2025 SpareBank 1 Gruppen 143 136 412 309 446 SpareBank 1 Boligkreditt 11 41 88 81 105 SpareBank 1 Næringskreditt 2 2 6 7 9 BN Bank 52 70 176 229 291 SpareBank 1 Markets 2 12 26 49 74 Kredittbanken 1 3 10 4 7 SpareBank 1 Betaling 0 2 16 -9 -6 SpareBank 1 Forvaltning 12 14 40 42 58 Other companies -19 -1 -3 27 35 Income from investment in associates and joint ventures 204 278 770 740 1,017
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33SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 33 Note 4: Capital adequacy Capital adequacy is calculated and reported in accordance with the EU capital requirements regulations for banks and investment firms (CRR/CRD). SpareBank 1 SMN utilises the Internal Rating Based Approach (IRB) for credit risk. Advanced IRB approach is used for the corporate portfolios. Use of IRB imposes wide-ranging requirements on the bank’s organisational set-up, competence, risk models and risk management systems. As of 30 September 2026 the overall minimum requirement on CET1 capital is 14.0 per cent. The capital conservation buffer requirement is 2.5 per cent, the systemic risk requirement for Norwegian IRB-banks is 4.5 per cent and the Norwegian countercyclical buffer is 2.5 per cent. These requirements are additional to the requirement of 4.5 per cent CET1 capital. In addition, the Norwegian Financial Supervisory Authority has set a Pillar 2 requirement for SpareBank 1 SMN (P2R) of 1.6 per cent of the Group’s calculation basis, representing a cut of 0.1 percentage points in the previous Pillar 2 requirement. At least 56.25 per cent of the requirement must be covered by CET1 capital, while 75 per cent must be covered by Tier 1 capital. Finanstilsynet has also decided to reduce the expected capital requirement margin (P2G) from at least 1.25 per cent to at least 1.00 per cent of the Group’s calculation basis. In response to the above, the Board of Directors adopted a new long-term target for its CET1 capital ratio on 18 December 2025, effective as of 31 December 2025. The target has been set at a minimum of 15.9 per cent. SpareBank 1 SMN has been subject to a temporary Pillar 2 capital premium of 0.7 percentage points since 30 April 2022, based on IRB models for corporate clients. Effective as of Q4 2025, the bank has adopted revised IRB models for corporate clients in accordance with conditions set by Finanstilsynet. The temporary premium of 0.7 percentage points has lapsed as of the same date. The systemic risk buffer stands at 4.5 per cent for the Norwegian exposures. For exposures in other countries, the particular country’s systemic buffer rate shall be employed. As of 30 September 2026 the effective rate for the group is 4.45 per cent. The countercyclical buffer is calculated using differentiated rates. For exposures in other countries the countercyclical buffer rate set by the authorities in the country concerned is applied. If that country has not set a rate, the same rate as for exposures in Norway is applied unless the Ministry of Finance sets another rate. As of 30 September 2026 both the parent bank and the Group are below the capital deduction threshold such that the Norwegian rate is applied to all relevant exposures.
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34SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 34 Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 26,695 26,060 27,017 Total book equity 31,770 30,861 31,865 -1,900 -1,791 -1,799 Additional Tier 1 capital instruments included in total equity -1,888 -1,881 -1,996 -753 -751 -733 Deferred taxes, goodwill and other intangible assets -1,734 -1,633 -1,637 -2,915 - - Deduction for allocated dividends and gifts - - -2,915 - - - Non-controlling interests recognised in other equity capital -685 -682 -700 - - - Non-controlling interests eligible for inclusion in CET1 capital 531 536 535 - -3,014 -3,333 Net profit -2,982 -3,305 - - 968 1,235 Year-to-date profit included in core capital (31 per cent (39 per cent) of group profit) 878 1,254 - -53 -53 -55 Value adjustments due to requirements for prudent valuation -77 -74 -73 -367 -468 -332 Positive value of adjusted expected loss under IRB Approach -516 −623 -524 - - - Cash flow hedge reserve - 0 - -350 -350 -350 Deduction for common equity Tier 1 capital in significant investments in financial institutions -1,113 -769 -1,228 20,358 20,601 21,649 Common equity Tier 1 capital 24,183 23,684 23,328 1,900 1,900 1,900 Additional Tier 1 capital instruments 2,476 2,446 2,452 -49 -49 -49 Deduction for significant investments in financial institutions -49 -49 -49 22,208 22,452 23,500 Tier 1 capital 26,610 26,080 25,731 Supplementary capital in excess of core capital 2,750 2,750 3,250 Subordinated capital 3,986 3,547 3,457 -230 -230 -391 Deduction for significant investments in financial institutions -391 -230 -230 2,520 2,520 2,859 Additional Tier 2 capital instruments 3,595 3,317 3,227 24,728 24,972 26,359 Total eligible capital 30,205 29,398 28,958
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35SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 35 Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 Risk weighted assets (RWA) 19,214 15,235 19,703 Specialised enterprises 22,055 18,170 21,884 15,045 13,750 15,040 Corporate 15,947 14,442 15,677 22,949 22,097 22,397 Mass market exposure, property 36,163 34,368 35,775 2,019 1,955 2,151 Other mass market 2,199 1,997 2,071 - - - Equity positions IRB - - - 59,226 53,037 59,290 Total credit risk IRB 76,365 68,978 75,407 15 15 110 Central government 388 272 305 1,306 1,388 1,625 Covered bonds 2,450 1,970 1,794 5,371 5,462 4,847 Institutions 1,757 3,075 2,758 586 675 539 Local and regional authorities, state-owned enterprises 769 903 828 1,568 1,795 1,116 Corporate 3,655 4,218 4,172 13 14 16 Mass market 8,593 8,519 8,493 3,083 3,047 4,111 Exposures secured on real property 5,891 4,633 4,717 9 9 0 Defaulted exposures 443 490 478 14,695 13,733 15,347 Equity positions 7,493 6,978 7,017 1,560 1,096 725 Other assets 1,700 2,148 2,618 28,206 27,234 28,437 Total credit risk standardised approach 33,140 33,206 33,180 470 614 805 Debt risk 844 642 495 90 48 - Equity risk 130 140 181 - - - Currency risk and risk exposure for settlement/delivery 62 33 35 9,206 8,060 9,206 Operational risk 14,021 12,478 14,013 456 482 283 Credit value adjustment risk (CVA) 522 1,735 1,316 4,684 6,171 5,289 Modified risk weights - residential and commercial property (macroprudential tools) 16,750 15,614 14,645 102,337 95,645 103,309 Risk weighted assets (RWA) 141,832 132,826 139,273 8,187 7,652 8,265 Minimum requirements subordinated capital 11,347 10,626 11,142
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36SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 36 4,605 4,304 4,649 Minimum requirement on CET1 capital, 4.5 per cent 6,382 5,977 6,267 Capital Buffers 2,558 2,391 2,583 Capital conservation buffer, 2.5 per cent 3,546 3,321 3,482 4,554 4,256 4,597 Systemic risk buffer, 4.45 per cent 6,297 5,897 6,184 2,558 2,391 2,583 Countercyclical buffer, 2.5 per cent 3,546 3,321 3,482 9,671 9,038 9,763 Total buffer requirements on CET1 capital 13,389 12,539 13,147 6,082 7,258 7,237 Available CET1 capital after buffer requirements 4,412 5,168 3,914 Capital adequacy 19.9 % 21.5 % 21.0 % Common equity Tier 1 capital ratio 17.1 % 17.8 % 16.8 % 21.7 % 23.5 % 22.7 % Tier 1 capital ratio 18.8 % 19.6 % 18.5 % 24.2 % 26.1 % 25.5 % Capital ratio 21.3 % 22.1 % 20.8 % Leverage ratio 235,450 240,594 237,688 Balance sheet items 358,301 349,608 347,411 16,668 16,382 18,271 Off-balance sheet items 20,446 18,557 18,816 -468 -570 -437 Regulatory adjustments -642 -746 -647 251,650 256,407 255,522 Calculation basis for leverage ratio 378,105 367,419 365,580 22,208 22,452 23,500 Core capital 26,610 26,080 25,731 8.8 % 8.8 % 9.2 % Leverage Ratio 7.0 % 7.1 % 7.0 %
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37SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 37 Note 5: Distribution of loans by sector/industry Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 13,190 12,900 13,382 Agriculture and forestry 13,992 13,460 13,752 6,150 5,844 6,528 Fisheries and hunting 6,558 5,873 6,177 3,820 4,667 2,759 Sea farming industries 3,253 5,111 4,297 3,817 3,025 3,899 Manufacturing 4,569 3,756 4,559 1,282 1,548 1,395 Construction, power and water supply 2,659 2,846 2,598 3,560 3,598 3,315 Retail trade, hotels and restaurants 3,997 4,296 4,304 685 603 1,469 Maritime sector 1,479 670 749 29,101 27,757 30,500 Property management 30,632 27,880 29,227 4,432 4,368 5,862 Business services 6,693 5,188 5,258 10,159 10,207 9,285 Transport and other services provision 10,797 11,570 11,550 4 9 6 Public administration 30 31 33 1,163 1,162 1,087 Other sectors 995 1,077 1,076 77,363 75,688 79,487 Gross loans in Corporate market 85,655 81,758 83,580 168,036 165,893 175,272 Wage earners 182,625 173,195 175,343 245,399 241,581 254,759 Gross loans incl. SB1 Boligkreditt /SB1 Næringskreditt 268,280 254,954 258,923 73,303 68,501 81,422 - of which SpareBank 1 Boligkreditt 81,422 68,501 73,303 1,234 1,273 1,358 - of which SpareBank 1 Næringskreditt 1,358 1,273 1,234 170,862 171,807 171,979 Total Gross loans to and receivables from customers 185,500 185,180 184,387 678 626 732 - Loan loss allowance on amortised cost loans 829 711 766 125 130 137 - Loan loss allowance on loans at FVOCI 137 130 125 170,059 171,051 171,110 Net loans to and receivables from customers 184,535 184,339 183,495
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38SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 38 Note 6: Losses on loans and guarantees Parent bank January - September 3rd quarter 2026 2025 2026 2025 2025 (NOKm) RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total Change in provision for expected credit losses 18 84 102 7 −4 4 2 7 9 8 −31 −24 −2 40 38 Actual loan losses on commitments exceeding provisions made 4 21 25 1 59 61 4 0 4 0 44 44 2 80 81 Recoveries on commitments previously written-off −3 −13 −16 −4 −8 −12 −1 −1 −2 −1 −1 −2 −5 −9 −15 Losses for the period on loans and guarantees 19 92 112 5 47 52 4 7 11 7 11 18 −5 109 105 1) RM = Retail market, CM = Corporate market Group January - September 3rd quarter 2026 2025 2026 2025 2025 (NOKm) RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total RM 1) CM 1) Total Change in provision for expected credit losses 26 85 111 9 −3 6 2 3 5 11 −32 −21 0 44 44 Actual loan losses on commitments exceeding provisions made 19 38 57 10 76 85 5 9 14 3 47 50 12 99 111 Recoveries on commitments previously written-off −3 −13 −16 −4 −8 −12 −1 −1 −2 −1 −1 −2 −5 −10 −15 Losses for the period on loans and guarantees 42 110 152 14 65 80 7 10 17 14 14 27 7 133 140 1) RM = Retail market, CM = Corporate market
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39SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 39 Note 7: Provisions for losses on loans and guarantees Parent bank Parent bank (NOKm) 01/01/2026 Change in provision Net write-offs /recoveries 30/09/2026 Loans as amortised cost (CM) 724 74 -38 759 Loans as amortised cost (RM) 25 11 -2 34 Loans at fair value over OCI (RM) 95 8 - 103 Loans at fair value over OCI (CM) 50 8 - 59 Provision for expected credit losses on loans and guarantees 894 102 -41 955 Presented as Provision for loan losses 803 106 -41 869 Other debt- provisons 71 -9 - 62 Other comprehensive income - fair value adjustment 19 5 - 24 Parent bank (NOKm) 01/01/2025 Change in provision Net write-offs /recoveries 30/09/2025 Loans as amortised cost (CM) 718 -3 -38 678 Loans as amortised cost (RM) 27 -0 -2 25 Loans at fair value over OCI (RM) 97 8 - 104 Loans at fair value over OCI (CM) 57 -1 - 55 Provision for expected credit losses on loans and guarantees 899 4 -40 862 Presented as Provision for loan losses 765 31 -40 756 Other debt- provisons 102 -25 - 77 Other comprehensive income - fair value adjustment 31 -2 - 29
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40SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 40 Parent bank (NOKm) 01/01/2025 1) Change in provision Net write-offs /recoveries 31/12/2025 Loans as amortised cost (CM) 718 46 -40 724 Loans as amortised cost (RM) 27 0 -2 25 Loans at fair value over OCI (RM) 97 -2 - 95 Loans at fair value over OCI (CM) 57 -6 - 50 Provision for expected credit losses on loans and guarantees 899 38 -43 894 Presented as Provision for loan losses 765 81 -43 803 Other debt- provisons 102 -31 - 71 Other comprehensive income - fair value adjustment 31 -12 - 19 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated. Group Group (NOKm) 01/01/2026 Change in provision Net write-offs /recoveries 30/09/2026 Loans as amortised cost (CM) 790 77 -40 826 Loans as amortised cost (RM) 47 19 -2 64 Loans at fair value over OCI (RM) 95 8 - 103 Loans at fair value over OCI (CM) 50 8 - 59 Provision for expected credit losses on loans and guarantees 982 113 -43 1,052 Presented as Provision for loan losses 891 117 -43 966 Other debt- provisons 71 -9 - 62 Other comprehensive income - fair value adjustment 19 5 - 24
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41SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 41 Group (NOKm) 01/01/2025 Change in provision Net write-offs /recoveries 30/09/2025 Loans as amortised cost (CM) 780 0 -40 741 Loans as amortised cost (RM) 48 1 -2 47 Loans at fair value over OCI (RM) 97 8 - 104 Loans at fair value over OCI (CM) 57 -1 - 55 Provision for expected credit losses on loans and guarantees 981 8 -42 947 Presented as Provision for loan losses 848 35 -42 841 Other debt- provisons 102 -25 - 77 Other comprehensive income - fair value adjustment 31 -2 - 29 Group (NOKm) 01/01/2025 1) Change in provision Net write-offs /recoveries 31/12/2025 Loans as amortised cost (CM) 780 52 -43 790 Loans as amortised cost (RM) 48 2 -2 47 Loans at fair value over OCI (RM) 97 -2 - 95 Loans at fair value over OCI (CM) 57 -6 - 50 Provision for expected credit losses on loans and guarantees 981 46 -45 982 Presented as Provision for loan losses 848 88 -45 891 Other debt- provisons 102 -31 - 71 Other comprehensive income - fair value adjustment 31 -12 - 19 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated.
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42SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 42 Accrual for losses on loans Parent bank 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail market Opening balance 1) 14 45 57 115 22 53 44 119 22 53 44 119 Transfer to (from) stage 1 10 -10 -1 - 8 -8 -0 - 7 -7 -0 - Transfer to (from) stage 2 -1 1 -1 - -1 1 -0 - -2 3 -0 - Transfer to (from) stage 3 -0 -3 3 - -0 -5 6 - -0 -5 5 - Net remeasurement of loss allowances -11 9 24 23 -13 -4 7 -10 -13 -1 12 -2 Originations or purchases 6 6 1 13 6 8 1 15 5 9 2 16 Derecognitions -4 -12 -2 -18 -6 -14 -2 -21 -8 -18 -2 -27 Changes due to changed input assumptions 0 2 -0 2 6 22 -3 25 2 11 -1 12 Actual loan losses - - -2 -2 - - -2 -2 - - -2 -2 Closing balance 15 40 78 132 21 53 50 124 14 45 57 115 Corporate market Opening balance 1) 146 296 266 707 169 328 180 678 169 328 180 678 Transfer to (from) stage 1 65 -65 -0 - 43 -43 -0 - 40 -40 -0 - Transfer to (from) stage 2 -13 13 -0 - -13 16 -3 - -12 16 -4 - Transfer to (from) stage 3 -1 -10 10 - -1 -6 7 - -1 -7 9 - Net remeasurement of loss allowances -23 74 34 85 -63 35 47 19 -54 6 144 96 Originations or purchases 47 34 2 84 45 27 1 74 64 42 1 107 Derecognitions -34 -74 -3 -111 -38 -88 -7 -134 -57 -106 -23 -186 Changes due to changed input assumptions -1 35 0 34 4 60 -3 61 -2 57 -2 53 Actual loan losses - - -38 -38 - - -38 -38 - - -40 -40 Closing balance 187 303 271 760 147 329 185 660 146 296 266 707 Total accrual for loan losses 202 342 348 893 168 382 235 785 160 340 323 822 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated.
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43SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 43 Group 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail market Opening balance 1) 16 54 67 137 28 66 45 139 28 66 45 139 Transfer to (from) stage 1 12 -11 -1 - 11 -10 -0 - 10 -9 -0 - Transfer to (from) stage 2 -1 2 -1 - -1 2 -0 - -3 3 -1 - Transfer to (from) stage 3 -0 -3 3 - -1 -6 7 - -0 -6 7 - Net remeasurement of loss allowances -12 13 24 25 -15 -1 6 -10 -10 17 13 19 Originations or purchases 8 8 1 17 8 9 1 18 12 17 2 31 Derecognitions -5 -14 -3 -21 -7 -16 -2 -25 -9 -21 -2 -32 Changes due to changed input assumptions 11 1 -5 6 2 20 4 26 -12 -12 6 -18 Actual loan losses - - -2 -2 - - -2 -2 - - -2 -2 Closing balance 29 50 83 163 25 63 59 147 16 54 67 137 Corporate market Opening balance 1) 166 330 277 773 181 363 196 740 181 363 196 740 Transfer to (from) stage 1 74 -74 -0 - 49 -49 -0 - 45 -44 -0 - Transfer to (from) stage 2 -16 17 -1 - -14 18 -3 - -14 17 -4 - Transfer to (from) stage 3 -1 -12 12 - -1 -8 9 - -1 -8 10 - Net remeasurement of loss allowances -27 85 53 112 -66 46 55 35 -33 100 159 226 Originations or purchases 51 42 2 96 51 34 2 87 94 69 2 166 Derecognitions -37 -80 -4 -121 -39 -91 -7 -137 -59 -110 -24 -193 Changes due to changed input assumptions -16 28 -4 7 3 52 -16 39 -47 -56 -19 -123 Actual loan losses - - -40 -40 - - -40 -40 - - -43 -43 Closing balance 195 337 296 827 163 366 194 723 166 330 277 773 Total accrual for loan losses 224 386 379 990 188 429 253 870 182 384 345 911 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated.
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44SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 44 Accrual for losses on guarantees and unused credit lines Parent bank and group 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Opening balance 30 33 8 71 26 26 50 102 26 26 50 102 Transfer to (from) stage 1 11 -11 -0 - 5 -5 -0 - 4 -4 -0 - Transfer to (from) stage 2 -2 2 -0 - -1 2 -0 - -1 1 -0 - Transfer to (from) stage 3 -0 -1 1 - -0 -1 1 - -0 -1 1 - Net remeasurement of loss allowances -15 -1 2 -14 -25 -19 -41 -85 -9 2 -42 -49 Originations or purchases 8 4 0 12 - - - - 32 4 0 36 Derecognitions -4 -7 -0 -11 -4 -3 -0 -8 -7 -4 -0 -11 Changes due to changed input assumptions -1 6 -0 5 29 39 1 68 -15 9 -0 -6 Actual loan losses - - - - - - - - - - - - Closing balance 27 24 11 62 29 39 10 77 30 33 8 71 Of which Retail market 5 4 5 Corporate Market 58 73 67
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45SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 45 Provisions for credit losses specified by industry Parent bank 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Agriculture and forestry 1 46 44 91 2 45 23 69 2 43 36 81 Fisheries and hunting 9 60 1 70 5 63 1 69 6 47 5 57 Sea farming industries 13 13 147 173 8 35 11 54 14 2 11 27 Manufacturing 11 30 14 55 7 25 10 41 6 31 8 45 Construction, power and water supply 1 26 4 30 1 24 39 65 21 17 45 83 Retail trade, hotels and restaurants 17 36 2 55 14 30 2 45 11 24 3 39 Maritime sector 2 - - 2 0 - 25 25 1 - - 1 Property management 79 75 49 203 61 74 49 184 44 101 33 178 Business services 21 10 6 37 18 24 18 61 17 22 7 47 Transport and other services 22 10 1 32 21 12 3 36 17 15 112 144 Public administration 0 - - 0 0 - - 0 0 0 - 0 Other sectors 1 - 1 1 0 - - 0 0 0 - 0 Wage earners 1 38 82 121 1 51 55 107 1 39 62 101 Total provision for losses on loans 178 342 348 869 139 382 235 756 140 340 323 803 Loan loss allowance on loans at FVOCI 24 - - 24 29 - - 29 19 - - 19 Total loan loss allowance 202 342 348 893 168 382 235 785 160 340 323 822 1) In the first quarter of 2026 NOK 138 million in provision for stage 3 losses was reported under “Transport and other services” but belongs to “Sea farming industries”. This has been corrected from the second quarter 2026.
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46SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 46 Group 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Agriculture and forestry 3 48 45 96 3 47 24 74 2 45 37 85 Fisheries and hunting 9 60 1 70 5 63 1 69 6 47 5 57 Sea farming industries 14 13 148 175 10 36 12 57 15 3 12 30 Manufacturing 14 34 15 63 9 30 11 49 8 36 10 55 Construction, power and water supply 1 38 7 46 2 39 42 82 21 28 48 97 Retail trade, hotels and restaurants 19 41 20 79 16 32 4 52 15 29 6 49 Maritime sector 2 - - 2 1 - 25 25 2 - - 2 Property management 79 76 49 203 62 74 49 185 45 101 33 179 Business services 23 14 9 47 21 27 22 71 21 25 11 57 Transport and other services 28 15 2 45 24 22 5 52 21 23 114 158 Public administration 0 - - 0 0 - - 0 0 0 - 0 Other sectors 1 0 1 1 0 0 0 0 0 0 0 0 Wage earners 7 46 84 137 6 59 59 125 6 47 68 122 Total provision for losses on loans 200 386 379 966 159 429 253 841 162 384 345 891 Loan loss allowance on loans at FVOCI 24 - - 24 29 - - 29 19 - - 19 Total loan loss allowance 224 386 379 990 188 429 253 870 182 384 345 911
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47SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 47 Note 8: Gross loans Parent bank 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail Market Opening balance 1) 83,633 3,562 773 87,968 80,631 3,410 736 84,777 80,631 3,410 736 84,777 Transfer to stage 1 821 -771 -50 - 871 -828 -43 - 771 -753 -18 - Transfer to stage 2 -2,441 2,497 -56 - -1,033 1,076 -43 - -1,192 1,253 -61 - Transfer to stage 3 -32 -102 134 - -37 -160 197 - -45 -145 190 - Net increase/decrease amount existing loans -1,582 -64 -36 -1,682 -1,709 -66 -25 -1,800 -1,938 -79 -29 -2,046 New loans 31,733 1,182 155 33,069 35,656 750 100 36,505 40,995 1,229 168 42,392 Derecognitions -29,887 -1,163 -264 -31,314 -27,786 -1,086 -152 -29,025 -35,588 -1,353 -210 -37,152 Financial assets with actual loan losses -0 -0 -3 -3 - - -3 -3 - - -3 -3 Closing balance 82,245 5,141 653 88,038 86,593 3,096 766 90,454 83,633 3,562 773 87,968 Corporate Market Opening balance 1) 64,423 7,502 1,230 73,155 62,596 7,876 1,258 71,730 62,596 7,876 1,258 71,730 Transfer to stage 1 2,308 -2,296 -12 - 1,509 -1,486 -23 - 1,600 -1,590 -10 - Transfer to stage 2 -2,534 2,537 -3 - -2,887 2,939 -52 - -2,501 2,564 -62 - Transfer to stage 3 -117 -122 239 - -112 -79 191 - -454 -91 545 - Net increase/decrease amount existing loans -1,975 -146 11 -2,110 -1,849 -328 -79 -2,256 -1,494 -397 -78 -1,969 New loans 18,267 1,307 217 19,791 16,274 883 300 17,458 24,544 1,283 386 26,213 Derecognitions -13,479 -1,717 -270 -15,466 -13,640 -1,491 -387 -15,519 -19,864 -2,127 -756 -22,748 Financial assets with actual loan losses -1 -3 -47 -51 -2 -3 -49 -53 -5 -15 -53 -73 Closing balance 66,893 7,062 1,364 75,319 61,889 8,311 1,160 71,360 64,423 7,502 1,230 73,155 Closing balance amortized cost and FV through OCI 149,137 12,203 2,017 163,357 148,481 11,407 1,926 161,814 148,056 11,064 2,003 161,123 Fixed interest loans at FV 8,622 9,993 9,740 Total gross loans at the end of the period 171,979 171,807 170,862 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated.
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48SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 48 Group 30/09/2026 30/09/2025 31/12/2025 (NOKm) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail Market Opening balance 1) 90,895 4,421 916 96,231 86,807 4,358 855 92,021 86,807 4,358 855 92,021 Transfer to stage 1 1,035 -982 -53 - 1,121 -1,073 -48 - 1,020 -998 -22 - Transfer to stage 2 -2,742 2,810 -67 - -1,343 1,400 -57 - -1,559 1,636 -77 - Transfer to stage 3 -44 -149 193 - -47 -223 270 - -59 -217 276 - Net increase/decrease amount existing loans -1,569 -108 -43 -1,720 -1,684 -109 -33 -1,826 -1,913 -147 -40 -2,100 New loans 34,189 1,330 161 35,680 38,155 902 107 39,163 44,108 1,447 182 45,737 Derecognitions -32,010 -1,375 -321 -33,706 -29,163 -1,326 -219 -30,708 -37,510 -1,659 -254 -39,424 Financial assets with actual loan losses -0 -0 -3 -3 - - -3 -3 - - -3 -3 Closing balance 89,753 5,946 783 96,481 93,846 3,929 872 98,647 90,895 4,421 916 96,231 Corporate Market Opening balance 1) 67,824 9,336 1,359 78,519 66,375 9,864 1,375 77,614 66,375 9,864 1,375 77,614 Transfer to stage 1 2,734 -2,720 -14 - 1,817 -1,792 -26 - 1,882 -1,867 -15 - Transfer to stage 2 -2,894 2,920 -26 - -3,176 3,238 -62 - -2,769 2,847 -78 - Transfer to stage 3 -143 -165 308 - -135 -117 252 - -479 -139 617 - Net increase/decrease amount existing loans -1,945 -205 -0 -2,150 -1,875 -363 -88 -2,326 -1,532 -450 -93 -2,075 New loans 19,203 1,658 223 21,084 17,432 1,160 321 18,914 26,095 1,717 403 28,216 Derecognitions -14,570 -2,021 -308 -16,900 -15,259 -1,853 -393 -17,506 -21,744 -2,623 -797 -25,164 Financial assets with actual loan losses -1 -3 -47 -51 -2 -3 -49 -53 -5 -15 -53 -73 Closing balance 70,208 8,799 1,494 80,501 65,179 10,133 1,332 76,643 67,824 9,336 1,359 78,519 Closing balance amortized cost and FV through OCI 159,961 14,745 2,277 176,983 159,025 14,062 2,204 175,290 158,719 13,756 2,276 174,751 Fixed interest loans at FV 8,517 9,890 9,636 Total gross loans at the end of the period 185,500 185,180 184,387 1) The opening balance as of 01/01/25 is adjusted to match the closing balance as of 31/12/24 due to the transfer of the Agriculture segment from RM to CM. This change took effect from 01/01/25, and historical figures have not been restated.
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49SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 49 Note 9: Distribution of customer deposits by sector/industry Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 2,805 2,994 3,116 Agriculture and forestry 3,116 2,994 2,805 2,004 1,919 1,573 Fisheries and hunting 1,573 1,919 2,004 861 1,120 427 Sea farming industries 427 1,120 861 4,117 3,501 3,089 Manufacturing 3,089 3,501 4,117 3,688 2,883 3,083 Construction, power and water supply 3,083 2,883 3,688 5,850 4,995 5,011 Retail trade, hotels and restaurants 5,011 4,995 5,850 802 711 748 Maritime sector 748 711 802 6,522 8,485 7,897 Property management 7,807 8,397 6,430 12,190 12,519 12,589 Business services 12,589 12,519 12,190 15,119 14,734 13,961 Transport and other services provision 13,479 14,269 14,615 16,654 19,841 19,324 Public administration 19,324 19,841 16,654 7,899 8,025 7,779 Other sectors 7,762 8,005 7,882 78,511 81,727 78,596 Total corporate 78,008 81,154 77,898 68,267 67,832 72,251 Wage earners 72,251 67,832 68,267 146,778 149,559 150,847 Total deposits 150,259 148,986 146,165 1) In accordance with the new standard for industry classification introduced on 1 September 2025, comparative figures for 30/06/2025 have been restated
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50SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 50 Note 10: Net interest income Parent bank Group 3rd quarter January - September January - September 3rd quarter 2025 2025 2026 2025 2026 (NOKm) 2026 2025 2026 2025 2025 Interest income 1,149 322 203 894 653 Interest income from loans to and claims on central banks and credit institutions (amortised cost) 215 442 51 168 553 5,599 1,384 1,492 4,202 4,270 Interest income from loans to and claims on customers (amortised cost) 5,113 5,055 1,770 1,669 6,742 4,325 1,096 1,023 3,274 2,930 Interest income from loans to and claims on customers (FVOCI) 2,930 3,274 1,023 1,096 4,325 420 105 93 318 287 Interest income from loans to and claims on customers (FVPL) 287 318 93 105 420 1,800 433 460 1,398 1,219 Interest income from money market instruments, bonds and other fixed income securities 1,214 1,393 458 431 1,793 - - - - 0 Other interest income 18 18 6 6 25 13,292 3,341 3,271 10,086 9,360 Total interest income 9,777 10,501 3,401 3,476 13,856 Interest expense 506 127 79 406 280 Interest expenses on liabilities to credit institutions 280 406 79 127 506 5,133 1,286 1,321 3,914 3,811 Interest expenses relating to deposits from and liabilities to customers 3,773 3,880 1,307 1,269 5,086 2,591 656 629 1,972 1,716 Interest expenses related to the issuance of securities 1,716 1,972 629 656 2,591 173 44 48 131 132 Interest expenses on subordinated debt 137 135 50 46 179 13 3 3 10 10 Other interest expenses 51 49 18 19 64 88 22 26 66 77 Guarantee fund levy 77 66 26 22 88 8,503 2,139 2,107 6,499 6,026 Total interest expense 6,033 6,507 2,109 2,139 8,514 4,789 1,202 1,165 3,587 3,334 Net interest income 3,744 3,993 1,292 1,337 5,343
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51SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 51 Note 11: Net commission income and other income Parent bank Group 3rd quarter January - September January - September 3rd quarter 2025 2025 2026 2025 2026 (NOKm) 2026 2025 2026 2025 2025 Commission income 80 18 15 61 51 Guarantee commission 51 61 15 18 80 - - - - - Broker commission 268 249 85 81 318 87 24 22 65 69 Portfolio commission, savings products 69 65 22 24 87 360 91 33 276 152 Commission from SpareBank 1 Boligkreditt 152 276 33 91 360 14 3 4 11 9 Commission from SpareBank 1 Næringskreditt 9 11 4 3 14 522 137 149 378 392 Payment transmission services 390 375 148 136 518 310 80 88 227 258 Commission from insurance services 258 227 88 80 310 79 19 18 60 59 Other commission income 53 53 17 17 70 1,451 372 329 1,078 990 Total commission income 1,250 1,318 412 450 1,757 Commission expenses 138 37 47 95 108 Payment transmission services 108 95 47 38 139 17 4 4 13 13 Other commission expenses 61 79 21 27 104 155 41 52 107 120 Total commission expenses 169 174 68 65 243 Other operating income 49 10 12 34 33 Operating income real property 41 43 15 13 62 - - - - - Property administration and sale of property 240 245 78 84 313 - - - - - Accountant’s fees 628 608 166 152 772 13 3 1 10 4 Other operating income 12 18 3 5 22 62 13 13 44 37 Total other operating income 923 915 263 255 1,170 1,358 344 290 1,015 906 Total net commission income and other operating income 2,004 2,059 606 640 2,684
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52SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 52 Note 12: Operating expenses Parent bank Group 3rd quarter January - September January - September 3rd quarter 2025 2025 2026 2025 2026 (NOKm) 2026 2025 2026 2025 2025 400 86 111 315 337 IT costs 1) 393 374 128 104 478 69 19 19 56 54 Marketing 121 114 40 37 144 140 35 34 105 104 Ordinary depreciation 138 140 46 47 187 56 15 14 43 46 Operating expenses, real estate 60 55 20 19 69 229 54 57 159 160 Purchased services 193 190 65 63 272 246 45 38 161 120 Other operating expense 178 204 54 59 301 1,140 254 273 839 822 Total other operating expenses 1,084 1,076 355 329 1,452
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53SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 53 Note 13: Net return on financial investments Parent bank Group 3rd quarter January - September January - September 3rd quarter 2025 2025 2026 2025 2026 (NOKm) 2026 2025 2026 2025 2025 Valued at fair value through profit and loss 43 -80 -133 46 -181 Value change in interest rate instruments -182 45 -133 -81 42 Value change in derivatives/hedging -13 5 4 -8 5 Net value change in hedged bonds and derivatives 1) 5 -8 4 5 -13 32 9 -5 29 5 Net value change in hedged fixed rate loans and derivatives 5 29 -5 9 32 -107 92 85 -83 129 Other derivatives 129 -83 85 92 -107 Income from equity instruments - - - - - Income from ownership interests 770 740 204 278 1,017 779 -0 -0 779 1,407 Dividend from ownership interests - - - - - 3 3 - 3 5 Value change and gain/loss on owner instruments 5 45 - 45 45 33 4 4 16 14 Dividend from equity instruments 7 11 1 2 25 57 -1 39 40 68 Value change and gain/loss on equity instruments 71 44 60 -3 63 826 32 -7 822 1,452 Total net income from financial assets and liabilities at FV through P&L 811 823 216 347 1,105 Valued at amortized cost -1 - -0 -1 -1 Value change in interest rate instruments held to maturity -1 -1 -0 - -1 -1 - -0 -1 -1 Total net income from financial assets and liabilities at amortised cost -1 -1 -0 - -1 19 6 0 -2 2 Total net gain from currency trading 2 -2 0 6 19 845 38 -7 819 1,454 Total net return on financial investments 813 821 216 353 1,123 1) Fair value hedging 271 -54 -463 259 -468 Changes in fair value on hedging instrument -468 259 -463 -54 271 -284 59 466 -267 473 Changes in fair value on hedging item 473 -267 466 59 -284 -13 5 4 -8 5 Net gain or loss from hedge accounting 5 -8 4 5 -13 2) In the figures for 2025, NOK 42 million has been recognised in profit or loss as a result of the sale of shares to Swedbank as part of the transaction between former SpareBank 1 Markets and Swedbank (now SB1 Markets).
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54SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 54 Note 14: Other assets Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 187 190 182 Fixed assets 283 291 289 249 257 207 Right-of-use assets 369 426 423 114 151 152 Earned income not yet received 186 175 138 305 2,193 585 Accounts receivable, securities 585 2,193 305 - 296 - Pension assets - 296 - 806 160 62 Other assets 484 547 1,153 1,662 3,247 1,187 Total other assets 1,907 3,929 2,308
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55SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 55 Note 15: Other liabilities Parent bank Group 31/12/2025 30/09/2025 30/09/2026 (NOKm) 30/09/2026 30/09/2025 31/12/2025 197 202 119 Deferred tax 228 290 305 966 874 602 Payable tax 699 970 1,066 33 30 - Capital tax - 30 33 95 152 111 Accrued expenses and received, non-accrued income 496 525 455 334 429 513 Provision for accrued expenses and commitments 513 429 334 70 77 61 Losses on guarantees and unutilised credits 61 77 70 8 8 8 Pension liabilities 8 8 8 262 269 222 Lease liabilities 393 443 441 89 23 21 Creditors 52 100 134 345 2,130 2,404 Debt from securities 2,404 2,130 345 178 413 323 Other liabilities 407 509 266 2,577 4,608 4,385 Total other liabilities 5,261 5,510 3,457
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56SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 56 Note 16: Debt created by issue of securities and subordinated debt Group Change in securities debt (NOKm) 01/01/2026 Issued Fallen due/ Redeemed Other changes 30/09/2026 Bond debt, nominal value 29,505 5,571 5,758 -2,217 27,102 Value adjustments -608 -267 -875 Accrued interest 223 55 278 Total 29,121 5,571 5,758 -2,429 26,505 Change in Senior Non-preferred debt (NOKm) 01/01/2026 Issued Fallen due/ Redeemed Other changes 30/09/2026 Senior non preferred, nominal value 15,341 3,950 3,396 -43 15,852 Value adjustments -118 -195 -312 Accrued interest 169 51 220 Total 15,392 3,950 3,396 -187 15,759 Change in subordinated debt (NOKm) 01/01/2026 Issued Fallen due/ Redeemed Other changes 30/09/2026 Ordinary subordinated loan capital, nominal value 2,828 500 - - 3,328 Value adjustments - - Accrued interest 20 5 25 Total 2,848 500 - 5 3,353
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57SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Note 17: Measurement of fair value of financial instruments Financial instruments at fair value are classified at various levels. Level 1: Valuation based on quoted prices in an active market Fair value of financial instruments that are traded in the active markets is based on market price on the balance sheet date. A market is considered active if market prices are easily and regularly available from a stock exchange, dealer, broker, industry group, price-setting service or regulatory authority, and these prices represent actual and regularly occurring market transactions at an arm’s length. This category also includes quoted shares and Treasury bills. Level 2: Valuation based on observable market data Consists of instruments that are valued by the use of information other than quoted prices, but where the prices are directly or indirectly observable for the assets or liabilities concerned, and which also include quoted prices in non-active markets. Level 3: Valuation based on other than observable data If valuation data are not available for level 1 and 2, valuation methods are applied that are based on non-observable information Group’s assets and liabilities at 30 September 2026: Assets (NOKm) Level 1 Level 2 Level 3 Total Financial assets at FV through P&L - Derivatives - 6,058 - 6,058 - Bonds and money market certificates 3,864 32,689 - 36,553 - Equity instruments 259 49 923 1,231 - Fixed interest loans - - 8,518 8,518 Financial assets through other comprehensive income - Loans at fair value through other comprehensive income - - 96,811 96,811 Total assets 4,123 38,796 106,252 149,170 Liabilities Financial liabilities at FV through P&L - Derivatives - 5,860 - 5,860 Total liabilities - 5,860 - 5,860 Group’s assets and liabilities at 30 September 2025: Assets (NOKm) Level 1 Level 2 Level 3 Total Financial assets at FV through P&L - Derivatives - 6,140 - 6,140 - Bonds and money market certificates 3,635 31,450 - 35,084 - Equity instruments 262 74 647 984 - Fixed interest loans - - 9,892 9,892 Financial assets through other comprehensive income - Loans at fair value through other comprehensive income - - 98,925 98,925 Total assets 3,896 37,664 109,464 151,025 Liabilities Financial liabilities at FV through P&L - Derivatives - 4,717 - 4,717 Total liabilities - 4,717 - 4,717 Group’s assets and liabilities at 31 December 2025: Assets (NOKm) Level 1 Level 2 Level 3 Total Financial assets at FV through P&L - Derivatives - 5,621 - 5,621 - Bonds and money market certificates 3,534 31,685 - 35,219 - Equity instruments 259 94 975 1,328 - Fixed interest loans - - 9,637 9,637 Financial assets through other comprehensive income - Loans at fair value through other comprehensive income - - 96,520 96,520 Total assets 3,793 37,400 107,132 148,325 Liabilities Financial liabilities at FV through P&L - Derivatives - 4,481 - 4,481 Total liabilities - 4,481 - 4,481
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58SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Changes in instruments classified in level 3 at 30 September 2026: (NOKm) Equity instruments through profit/loss Fixed interest loans Loans at fair value through OCI Total Opening balance 975 9,637 96,520 107,132 Investment in the period 4 318 32,815 33,137 Disposals in the period −4 −1,186 −32,511 −33,701 Expected credit loss - - −17 −17 Gain or loss on financial instruments −52 −251 5 −298 Closing balance 923 8,518 96,811 106,252 Changes in instruments classified in level 3 at 30 September 2025: (NOKm) Equity instruments through profit/loss Fixed interest loans Loans at fair value through OCI Total Opening balance 663 10,468 92,738 103,870 Investment in the period 23 424 36,576 37,023 Disposals in the period −44 −899 −30,383 −31,325 Expected credit loss - - −4 −4 Gain or loss on financial instruments 5 −101 −2 −99 Closing balance 648 9,892 98,925 109,464 Changes in instruments classified in level 3 at 31 December 2025: (NOKm) Equity instruments through profit/loss Fixed interest loans Loans at fair value through OCI Total Opening balance 663 10,468 92,738 103,870 Investment in the period 350 476 42,777 43,603 Disposals in the period −45 −1,158 −38,995 −40,198 Expected credit loss - - 2 2 Gain or loss on financial instruments 7 −149 −2 −144 Closing balance 975 9,637 96,520 107,132
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59SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Valuation method The valuation method applied is adapted to each financial instrument, and is intended to utilise as much of the information that is available in the market as possible. The method for valuation of financial instruments in level 2 and 3 is described in the following: Fixed interest loans to customers (level 3) The loans consist for the most part of fixed interest loans denominated in Norwegian kroner. The value of the fixed interest loans is determined such that agreed interest flows are discounted over the term of the loan by a discount factor that is adjusted for margin requirements. The discount factor is raised by 10 basis points when calculating sensitivity. Loans at fair value through other comprehensive income (level 3) Residential mortgages at floating interest classified at fair value over other comprehensive income are valued based on nominal amount reduced by expected credit loss. Loans with no significant credit risk deterioration since first recognition is assessed at nominal amount. For loans with a significant increase in credit risk since first recognition or objective evidence of loss, the calculation of expected credit losses over the life of the asset is in line with loan losses for loans at amortised cost. Estimated fair value is the nominal amount reduced by expected lifetime credit loss. If the likelihood of the worst case scenario in the model is doubled, fair value is reduced by NOK 2 million. Certificates and bonds (level 2 and 3) Valuation on level 2 is based for the most part on observable market information in the form of interest rate curves, exchange rates and credit margins for the individual credit and the bond’s or certificate’s characteristics. For papers valued under level 3 the valuation is based on indicative prices from a third party or comparable paper. Equity instruments (level 3) Shares that are classified to level 3 include essentially investments in unquoted shares. Among other a total of NOK 585 million in Private Equity investments, property funds, hedge funds and unquoted shares through the company SpareBank 1 SMN Invest. The valuations are primarily based on reporting from managers of the funds who utilise cash flow based models or multiples when determining fair value. The Group does not have full access to information on all the elements in these valuations and is therefore unable to determine alternative assumptions. Financial derivatives (level 2) Financial derivatives at level 2 include for the most part currency futures and interest rate and exchange rate swaps. Valuation is based on observable interest rate curves. In addition the item includes derivatives related to FRAs. These are valued with a basis in observable prices in the market. Derivatives classified to level 2 also include equity derivatives related to SB1 Markets’ market-making activities. The bulk of these derivatives refer to the most sold shares on Oslo Stock Exchange, and the valuation is based on the price of the actual/underlying share and observable or calculated volatility. Sensitivity analyses, level 3 as at 30 September 2026: (NOKm) Book value Effect from change in reasonable possible alternative assumptions Fixed interest loans 8,518 −12 Equity instruments through profit/loss 1) 923 Loans at fair value through other comprehensive income 96,811 −2 1) As described above, the information to perform alternative calculations is not available
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60SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES Note 18: Liquidity risk Liquidity risk is the risk that the Group will be unable to refinance its debt or to finance asset increases. Liquidity risk management starts out from the Group’s overall liquidity strategy which is reviewed and adopted by the board of directors at least once each year. The liquidity strategy reflects the Group’s moderate risk profile. The Group reduces its liquidity risk through guidelines and limits designed to achieve a diversified balance sheet, both on the asset and liability side. Preparedness plans have been drawn up both for the Group and the SpareBank 1 Alliance to handle the liquidity situation in periods of turbulent capital markets. The bank’s liquidity situation is stress tested on a monthly basis using various maturities and crisis scenarios: bank-specific, for the financial market in general or a combination of internal and external factors. The Group’s objective is to survive twelve months of ordinary operations without access to fresh external funding while housing prices fall 30 per cent. In the same period minimum requirements to LCR shall be fulfilled. The average residual maturity on debt created by issue of securities at the end of the first nine months 2026 was 2.43 years. The overall LCR at the same point was 146 per cent and the average overall LCR in the third quarter was 154 per cent. The LCR in Norwegian kroner and euro at quarter-end was 132 and 384 per cent respectively
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61SPAREBANK 1 SMN | THIRD QUARTER | 2026 | NOTES 61 Note 19: Earnings per ECC ECC owners’ share of profit have been calculated based on net profit allocated in accordance with the average number of certificates outstanding in the period. There are no option agreements in relation to the equity capital certificates, diluted net profit is therefore equivalent to Net profit per ECC. January - September (NOKm) 2026 2025 2025 Adjusted Net Profit to allocate between ECC owners and Savings Bank Reserve 1) 2,814 3,128 4,118 Allocated to ECC Owners 2) 1,880 2,090 2,751 Issues ECC adjusted for own certificates 144,212,474 144,186,486 144,191,372 Earnings per ECC 13.03 14.49 19.08 January - September 1) Adjusted Net Profit 2026 2025 2025 Net Profit for the group 2,982 3,305 4,367 Adjusted for non-controlling interests share of net profit -61 -63 -88 Adjusted for Tier 1 capital holders share of net profit -107 -115 -161 Adjusted Net Profit 2,814 3,128 4,118 2) Equity capital certificate ratio (parent bank) 30/09/2026 30/09/2025 31/12/2025 ECC capital 2,884 2,884 2,884 Dividend equalisation reserve 9,167 8,722 9,168 Premium reserve 2,422 2,422 2,422 Unrealised gains reserve 134 164 134 Other equity capital 3 -1 -0 A. The equity capital certificate owners’ capital 14,611 14,191 14,608 Ownerless capital 7,205 6,984 7,205 Unrealised gains reserve 67 81 67 Other equity capital 2 -0 -0 B. The saving bank reserve 7,274 7,065 7,272 To be disbursed from gift fund - - 968 Dividend declared - - 1,947 Equity ex. profit 21,885 21,256 24,795 Equity capital certificate ratio A/(A+B) 66.8 % 66.8 % 66.8 %
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62SPAREBANK 1 SMN | THIRD QUARTER | 2026 | RESULTS FROM QUARTERLY ACCOUNT 62 Results from quarterly accounts 3Q 2Q 1Q 4Q 3Q 2Q 1Q 4Q 3Q Group (NOKm) 2026 2026 2026 2025 2025 2025 2025 2024 2024 Interest income effective interest method 3,401 3,253 3,120 3,355 3,476 3,552 3,473 3,581 3,561 Interest expenses 2,109 2,024 1,900 2,006 2,139 2,217 2,151 2,208 2,206 Net interest 1,292 1,229 1,220 1,349 1,337 1,335 1,321 1,372 1,355 Commission income 412 423 419 439 450 468 400 409 405 Commission expenses 68 61 48 69 65 62 48 53 68 Other operating income 263 340 320 256 255 348 312 241 233 Commission income and other income 606 702 690 625 640 754 665 597 570 Dividends 1 4 2 14 2 5 4 16 8 Income from investment in related companies 204 355 212 278 278 271 191 227 685 Net return on financial investments 10 74 −48 11 73 14 −17 40 −22 Net return on financial investments 216 432 165 303 353 289 179 283 670 Total income 2,114 2,363 2,075 2,277 2,330 2,378 2,165 2,252 2,596 Staff costs 558 528 560 515 525 532 537 521 503 Other operating expenses 355 361 360 375 329 409 338 396 324 Total operating expenses 913 889 920 890 854 941 875 917 827 Result before losses 1,201 1,474 1,155 1,387 1,476 1,437 1,289 1,335 1,769 Loss on loans, guarantees etc. 17 35 100 61 27 32 21 30 75 Result before tax 1,184 1,439 1,055 1,326 1,448 1,405 1,269 1,305 1,693 Tax charge 230 260 206 265 275 270 262 253 252 Result investment held for sale, after tax 1 0 0 0 −2 −5 −3 −1 0 Net profit 954 1,179 849 1,061 1,171 1,131 1,004 1,052 1,441 In the first quarter of 2026, a reclassification of commission expenses was carried out in EiendomsMegler 1 Midt-Norge. This results in an increase in income from real estate brokerage of approximately NOK 15 million per quarter, with a corresponding increase in costs. Historical figures have been restated.
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SPAREBANK 1 SMN | THIRD QUARTER | 2026 | KEY FIGURES FROM QUARTERLY ACCOUNTS 63 Key figures from quarterly accounts 3Q 2Q 1Q 4Q 3Q 2Q 1Q 4Q 3Q Group (NOKm) 2026 2026 2026 2025 2025 2025 2025 2024 2024 Profitability Return on equity per quarter 1) 12.4 % 16.2 % 11.3 % 13.7 % 15.9 % 16.2 % 14.0 % 14.4 % 21.0 % Cost-income ratio 1) 48.1 % 46.0 % 48.2 % 45.1 % 43.2 % 45.1 % 44.1 % 46.6 % 43.0 % Balance sheet figures Gross loans to customers 185,500 186,573 183,475 184,387 185,180 182,990 179,729 180,102 179,590 Gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt 268,280 264,822 261,251 258,923 254,954 252,890 249,905 249,350 247,148 Deposit from customers 150,259 155,781 151,089 146,165 148,986 149,446 148,169 140,897 138,042 Total assets 245,579 257,884 248,820 242,914 254,140 254,836 251,025 247,699 245,951 Quarterly average total assets 251,732 253,352 245,867 248,527 254,488 252,930 249,362 246,825 244,657 Growth in loans incl. SB1 Boligkreditt and SB1 Næringskreditt last 12 months 1) 1.3 % 1.4 % 0.9 % 1.6 % 0.8 % 1.2 % 0.2 % 0.9 % 2.2 % Growth in deposits last 12 months −3.5 % 3.1 % 3.4 % −1.9 % −0.3 % 0.9 % 5.2 % 2.1 % −1.2 % Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt Impairment losses ratio 1) 0.03% 0.05% 0.15% 0.09% 0.04% 0.05% 0.03% 0.05% 0.12% Stage 3 as a percentage of gross loans 1) 0.85% 0.85% 0.88% 0.88% 0.86% 0.84% 0.92% 0.89% 0.91% Solidity Common equity Tier 1 capital ratio 17.1 % 17.0 % 17.1 % 16.8 % 17.8 % 18.8 % 18.1 % 18.3 % 18.2 % Tier 1 capital ratio 18.8 % 18.7 % 18.8 % 18.5 % 19.6 % 20.8 % 20.0 % 20.2 % 20.2 % Capital ratio 21.3 % 20.9 % 21.2 % 20.8 % 22.1 % 23.4 % 22.6 % 22.8 % 23.1 % Tier 1 capital 26,610 26,504 25,934 25,731 26,080 25,866 24,936 24,769 24,097 Total eligible capital 30,205 29,551 29,175 28,958 29,398 29,209 28,172 28,004 27,557 Liquidity Coverage Ratio (LCR) 146% 181% 172% 156% 176% 196% 186% 183% 172% Leverage Ratio 7.0 % 6.8 % 7.0 % 7.0 % 7.1 % 7.0 % 7.0 % 7.0 % 6.9 %
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SPAREBANK 1 SMN | THIRD QUARTER | 2026 | KEY FIGURES FROM QUARTERLY ACCOUNTS 64 3Q 2Q 1Q 4Q 3Q 2Q 1Q 4Q 3Q Group (NOKm) 2026 2026 2026 2025 2025 2025 2025 2024 2024 Key figures ECC ECC share price at end of period (NOK) 218.3 188.0 206.7 206.1 193.7 193.9 182.8 171.3 153.5 Number of certificates issued, millions 1) 144.21 144.21 144.21 144.19 144.19 144.18 144.17 144.19 144.21 Booked equity capital per ECC (NOK) 1) 135.18 130.68 125.45 135.06 131.03 125.43 120.07 128.09 124.05 Profit per ECC, majority (NOK) 1) 4.19 5.19 3.66 4.58 5.19 4.99 4.32 4.67 6.42 Price-Earnings Ratio (annualised) 1) 12.52 10.54 13.93 11.33 9.41 9.70 10.43 9.17 5.97 Price-Book Value Ratio 1) 1.61 1.44 1.65 1.53 1.48 1.55 1.52 1.34 1.24 1) Defined as alternative performance measures, see attachment to the quarterly report
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SPAREBANK 1 SMN | THIRD QUARTER | 2026 | EQUITY CAPITAL CERTIFICATE 66 Equity capital certificates 20 largest ECC holders No. of ECCs Holding Sparebankstiftinga Søre Sunnmøre 10,471,224 7.26% Sparebankstiftelsen SMN 7,420,111 5.15% VPF Eika Egenkapitalbevis 4,964,361 3.44% KLP 4,942,310 3.43% Skandinaviska Enskilda Banken AB (Nominee) 3,692,833 2.56% Pareto Aksje Norge VPF 3,032,317 2.10% VPF Holberg Norge 2,775,000 1.92% Citibank, N.A. (Nominee) 2,564,142 1.78% J.P. Morgan SE (Nominee) 2,498,248 1.73% Spesialfondet Borea Utbytte 2,393,468 1.66% State Street Bank and Trust Comp (Nominee) 2,268,209 1.57% Forsvarets personellservice 2,031,146 1.41% VPF Alfred Berg Gamba 1,929,781 1.34% State Street Bank and Trust Comp (Nominee) 1,849,380 1.28% J. P. Morgan Chase Bank, N.A., London (Nominee) 1,846,602 1.28% J.P. Morgan SE (Nominee) 1,575,359 1.09% VPF Heimdal Utbytte 1,500,000 1.04% MP Pensjon PK 1,412,140 0.98% J. P. Morgan Chase Bank, N.A., London (Nominee) 1,355,274 0.94% The Northern Trust Comp (Nominee) 1,347,100 0.93% The 20 largest ECC holders in total 61,869,005 42.90% Others 82,346,585 57.10% Total issued ECCs 144,215,590 100.00% Dividend policy SpareBank 1 SMN aims to manage the Group’s resources in such a way as to provide equity certificate holders with a good, stable and competitive return in the form of dividend and a rising value of the bank’s equity certificate. The net profit for the year will be distributed between the owner capital (the equity certificate holders) and the ownerless capital in accordance with their respective shares of the bank’s total equity capital. SpareBank 1 SMN’s intention is that about one half of the owner capital’s share of the net profit for the year should be disbursed in dividends and, similarly, that about one half of the owner capital’s share of the net profit for the year should be disbursed as gifts or transferred to a foundation. This is on the assumption that capital adequacy is at a satisfactory level. When determining dividend payout, account will be taken of the profit trend expected in a normalised market situation, external framework conditions and the need for Tier 1 capital.
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67SPAREBANK 1 SMN | THIRD QUARTER | 2026 | AUDITORS REPORT PricewaterhouseCoopers AS, org.no.: 987 009 713 MVA, Statsautoriserte revisorer og medlemmer av Den norske Revisorforening Dronning Eufemias gate 71, Postboks 748 Sentrum, NO-0106 Oslo, T: 02316 (+47 952 60 000) www.pwc.no To the Board of Directors of SpareBank 1 SMN Report on Review of Interim Financial Information Introduction We have reviewed the accompanying consolidated balance sheet of SpareBank 1 SMN as at 30 September 2026, and the related consolidated income statement, the statement of comprehensive income, the statement of changes in equity and the cash flow statement for the nine-month period then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation of this interim financial information in accordance with IAS 34 Interim Financial Reporting. Our responsibility is to express a conclusion on this interim financial information based on our review. Scope of Review We conducted our review in accordance with International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (ISAs), and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information does not, in all material respects, give a true and fair view of the financial position of the entity as at 30 September 2026, and of its financial performance and its cash flows for the nine-month period then ended in accordance with IAS 34 Interim Financial Reporting. Oslo, 28 October 2026 PricewaterhouseCoopers AS LEGITOSIGN1 Erik Andersen State Authorised Public Accountant Note: This translation from Norwegian has been prepared for information purposes only
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SpareBank 1 SMN Søndre gate 4 7011 Trondheim Organisasjonsnummer: NO 937901003 Telefon: 915 03900 E-post: ir@smn.no