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Presentation 4 th quarter 2025 Preliminary annual accounts 2025 Trond Lars Nydal CEO Kristian Tafjord CFO 1 29th January 2026 Oslo
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Today’s agenda 2 Preliminary annual accounts 2025 Fourth quarter 2025 in figures and illustrations Growth and development – we look ahead
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In NOK: 2,014 million In per cent: 1.89 % Good Net Interest Income Growth In NOK: 47 million In per cent: 0.04 (loans and guarantees) Increasing Profitability Efficient operations C/I: 41.6 % ROE: 12.5 % Key figures 2025 3 Deposit-to-loan ratio: 59.4 % LCR: 177 NSFR: 123 CET1: 17.7 % Leverage Ratio: 7.2 % Strong Liquidity and Solidity Low Loan Losses Loans: 3.0 % Deposits: 7.6 % (last 12 months) 3
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Solid annual earnings 4 642 777 1.055 1.086 1.030 2021 2022 2023 2024 2025 9,5 10,9 14,0 13,7 12,5 2021 2022 2023 2024 2025 Profit after taxes - in NOK million Return on Equity Result per equity certificate in 2025 is NOK 9.57 (Group) against 9.95 (Group) in 2024
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A solid result benefits the owners and our region 5 • The result in the parent bank allocated to equity owners amounts to NOK 941 million • Based on the bank’s dividend policy, the preliminary annual result for 2025 and the solid capital situation, the Board of Directors is planning to propose the following allocation to the General Meeting • The dividend share constitutes 73.1 per cent of the Group result Proposal of allocation of result for 2025 Result allocated to equity owners NOK 941 million (Parent bank) The primary fund’s share of the profit: NOK 479 million (Represents 50.9 % of the equity) NOK 361 million in dividend funds for local communities 75.5 % of the primary fund’s profit share NOK 117 million to the primary fund - Strengthens the capital EC-owners’ share of the profit: NOK 462 million (Represents 49.1 % of the equity) NOK 349 million in cash dividends 75.5 % of the EC owners’ share of the profit NOK 7.00 per EC NOK 113 million to the dividend equalisation fund - strengthens the capital
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Result development 6 Profit after tax for 2025 compared with 2024 1.086 1.030 30 16 - 38 - 27 20- 57 2024 Net Interest Income Other Income excl. Financial Instruments Financial Instruments Expenses Losses Taxes 2025 6
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1.266 1.517 1.900 2.071 2.014 261 239 295 330 376 1.527 1.756 2.195 2.401 2.390 2021 2022 2023 2024 2025 Net Interest Income Other Income Good income growth 7 Income - in NOK million
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Proactive approach and high activity deliver results 27 33 15 56 99 42 -40 47 9 34 36 18 67 108 42 -34 42 4 Guarantee commission Insurance Fund saving products Discretionary Portfolio Management Money-transfer services Other fees and commission income Commission expenses and expenses from banking services Real estate brokerage Other operating income 2024 2025 Net provision- and other operating income - in NOK million 10.5 % increase 8
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Kristian Tafjord – new CFO • Started in this position 1st of January • Previously held the position of Chief Economist • Master’s degree in Economics from the University in Oslo • Six years at Norges Bank as analyst and trader in interest rates and foreign exchange • Several years of experience from the consulting industry 9
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4th quarter 2025 • 10 10
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High activity in our region, Nordvestlandet 11 Regional indicators - Norges Banks Regional Network 4/25 Source: Norges Bank
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A well-functioning housing market 125,4 % 5,5 % 5,9 % 5,9 % 6,4 % 6,5 % 6,6 % 7,4 % 7,5 % 7,7 % 8,4 % 8,7 % 9,4 % 9,4 % 9,4 % 9,9 % 10,5 % 11,5 % 11,7 % 12,1 % 12,2 % 12,3 % 12,9 % 13,1 % 13,8 % 14,3 % 15,2 % 15,8 % 17,6 % 18,7 % 21,1 % Trøndelag Stavanger m/omegn Buskerud Asker/Bærum Trondheim Porsgrunn/Skien Rogaland Drammen m/omegn Telemark Agder Tønsberg m/Færder Oslo Vestfold Møre og Romsdal Norge Kristiansand m/omegn Vestland Fredrikstad/Sarpsborg Bergen Nordland Østfold Innlandet Troms Akershus Tromsø Ålesund m/omegn Romerike Finnmark Hamar m/Stange Follo Bodø m/Fauske Sold dwellings in 2025 vs. 2024 - increase in per cent + 2.4 % Housing price growth last 12 months in Ålesund and surrounding areas + 0.7 % Housing price growth last 12 months in Møre og Romsdal 53.967 31.219 37.225 97.974 Norway M&R Ålesund Oslo Price per square meter - Price per square meter sold in December 2025 (NOK) Source: Eiendom Norge
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Good momentum going into 2026 251 232 243 258 297 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Return on Equity - quarterly in per cent Profit after taxes - in NOK million 13 12,2 11,2 11,7 12,2 14,1 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
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Good income development 522 485 503 515 511 67 81 97 96 102 589 566 601 611 613 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Interest Income Other Income Income - in NOK million 14
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Customer related other income - in NOK million 83 66 84 79 88 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 15 Other income Financial instruments - in NOK million -16 15 13 17 14 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
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Positive expense development throughout the year Operating expenses - in NOK million and C/I 16 235 251 249 249 244 40,0 44,5 41,8 40,8 39,8 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Operating expenses C/I
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Continued low losses Losses on loans and guarantees - in NOK million 17 Reassuring impairments - - in NOK million 115 161 168 147 136 238 168 72 76 89 15 12 26 40 38 368 341 266 263 263 2021 2022 2023 2024 2025 Ind.impairments on comm.in default>90 days Ind.impairments on other credit-impaired comm. ECL on loans and guarantees 4 12 6 -37 9 22 18 13 13 34 24 -24 0,05 0,13 0,09 -0,09 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Individual losses Model-based losses In per cent of average assets
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Lending growth Lending growth corporate market - in NOK billion and 12-month percentage growth Loans -in NOK billion and 12-month percentage growth 69,9 76,1 81,6 86,9 89,5 4,6 % 8,8 % 7,2 % 6,5 % 3,0 % 0,000 0,050 0,100 0,150 0,200 0,250 0,000 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 2021 2022 2023 2024 2025 Lending growth retail market - in NOK billion and 12-month percentage growth 47,6 50,8 53,8 57,9 59,7 4,3 % 6,9 % 5,9 % 7,6 % 3,1 % 2021 2022 2023 2024 2025 5,4 % 12,7 % 9,6 % 4,3 % 2,7 % 22,7 25,6 28,0 29,3 30,0 2021 2022 2023 2024 2025 18
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Deposits 41,9 43,9 47,4 49,6 53,3 7,3 % 4,8 % 8,0 % 4,5 % 7,6 % 2021 2022 2023 2024 2025 Deposits -in NOK billion and 12-month percentage growth 59,4 % 24,7 26,3 29,2 30,1 31,5 5,6 % 6,8 % 10,9 % 3,2 % 4,5 % 2021 2022 2023 2024 2025 17,2 17,5 18,2 19,4 21,8 9,8 % 2,0 % 3,7 % 6,7 % 12,6 % 2021 2022 2023 2024 2025 Deposits – Retail market - in NOK billion and 12-month percentage growth Deposits – Corporate market - in NOK billion and 12-month percentage growth 19
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Good industry risk diversification Retail 66,5 % Fisheries 6,0 % Oil-related services 1,2 % Services 5,5 % CRE 10,6 % Other 10,2 % Loans by sector - in per cent of total lending Other: 10.2 % - includes: Financial services 1.6 % Retail/ wholesale trade 1.2 % Other industry 4.0 % Agriculture 1.0 % Building and construction 1.4 % Other 0.3 % Shipyards 0.7 % 20
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Office premises 32 % Trade/wholesale 23 % Warehousing/logistics 8 % Hotels 6 % Other 8 % Industrial premises 8 % Housing projects 12 % Housing associations 3 %Oslo 17 % Møre & Romsdal 78 % Norway, except M&R 3 % Abroad 2 % 21 Stable real estate portfolio with good quality Geographical distribution - in per cent of total lending Real estate categories - in per cent of total lending 66 % 30% 4% PD <0,75 % PD 0,75%-3,00 % PD > 3% Distribution of risk classes - in per cent of total lending • 78 % within Møre og Romsdal • 96 % in the low to medium risk category • High degree of hedging in the portfolio • Comprehensive understanding of owner and business
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Robust retail lending portfolio 22 66,5% 55% 16% 7% 14% 6% 1% 0-60 60-70 70-75 75-85 85-100 > 100 Retail lending - in per cent of total lending Loan-to-value (LTV) - percentage distribution of Retail lending
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M Good market access at competitive terms Strong rating and long-term financing Deposits 53.335 Covered Bonds 25.531 Green Covered Bonds 5.138 Senior Loans 5.900 SNP 2.153 Green SNP 2.750 Subordinated Loans 850 Banks 200 A1 Moody’s rating Stable outlook Aaa Covered Bonds 7.9 NOK bn Green funding 2.58 years Average remaining duration Covered Bonds 42 NOK bn Net market financing 59.4% Deposit to loan ratio 23
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Robust capital 24 18,2 17,2 17,7 2023 2024 2025 CET1 Requirement as of 31.12.2023 16,15 Common Equity Tier 1 (CET1) - in per cent 4,5 2,5 4,5 2,5 0,9 1,25 As of 31.12.2023 Minimum requirement Conservation buffer Systemic risk buffer Countercyclical buffer P2R P2G Decomposition of CET1 capital requirements - in per cent 7,3 7,4 7,2 2023 2024 2025 Leverage ratio - in per cent 16,15
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MORG – Solid recovery at the end of the year 25Source: Macrobond MORG pricing through 2025 - Total return in per cent. Price and Price/Book (P/B) - Total return in per cent for 2025 74,8 80,7 81,5 85,184,4 84,0 97,0 117,01,13 1,04 1,19 1,38 2022 2023 2024 2025 Equity per MORG Price MORG P/B
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26 Macroeconomic outlook Persistent international uncertainty Low unemployment and rising purchasing power Strong business activity in Nordvestlandet The bank and our region are well positioned
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Results-driven culture 27 Strategic work put into system Involvement and ownership Leadership strength Structure
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28 Battle #2 Battle #3 Together we create IMPACT! Our People make the difference Satisfied customers ensure profitable growth Battle #1 ROE > 13,0% C/I < 40 % Common Equity Tier 1 capital (CET1) > 16,15% Low losses Healthy financial structure Long term financial targets Strategy Møre 2028
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Investments expected to have a positive effect on the bank’s results 6.97% ownership Investment in growth – ownership in product companies 5.25% ownership* 1.56% ownership • Existing partners • Desire to take a larger share of the value creation, to which we contribute • Active owner with strong distribution power • Aiming to contribute to develop companies for the benefit of customers, employees and owners • Supports the strategic focus on the savings area The transactions related to Borea and Kredittbanken are expected to be completed in the first quarter of 2026 * Indirect ownership through Frende Kapitalforvaltning AS
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Good momentum in Sparebanken Møre Market leader in a region with an ambitious business sector and strong outlook Strong brand and solid reputation Robust operations and ambitious financial targets Proactive and adaptable organization Valuable industry knowledge, close to customers, and low losses Strong solidity and liquidity 30
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Dividend policy Sparebanken Møre aims to achieve financial results providing a good and stable return on the bank’s equity capital Sparebanken Møre’s profit allocation must ensure that all equity owners are guaranteed equal treatment If the solvency ratio does note indicate otherwise, the aim is that approximately 50 per cent of the annual profit overall can be distributed as dividends 3131
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sbm.no facebook.com/sbm.no @sbmno engasjert.sbm.no Disclaimer This presentation has been prepared solely for promotion purposes of Sparebanken Møre. The presentation is intended as general information and should not be construed as an offer to sell or issue financial instruments. The presentation shall not be reproduced. redistributed. in whole or in part. without the consent and Sparebanken Møre. Sparebanken Møre assumes no liability for any direct or indirect losses or expenses arising from an understanding of and/or use of the presentation. R Contact CEO Trond Lars Nydal +47 95 17 99 77 trond.nydal@sbm.no CFO Kristian Tafjord +47 40 85 10 95 kristian.tafjord@sbm.no Disclaimer This presentation has been prepared solely for promotion purposes of Sparebanken Møre. The presentation is intended as general information and should not be construed as an offer to sell or issue financial instruments. In case of any discrepancies between the English and Norwegian versions of this presentation, the Norwegian version shall prevail. The presentation shall not be reproduced. redistributed. in whole or in part. without the consent of Sparebanken Møre. Sparebanken Møre assumes no liability for any direct or indirect losses or expenses arising from an understanding of and/or use of the presentation.
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Attachments
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Results in Q4 Key figures in Q4 2025 and 2024 In Q4 2025 In Q4 2024 Changes Results MNOK % MNOK % MNOK p.p. % Net Interest Income 511 1,90 522 2,04 -11 -0.14 -2.1 Gains/losses liquidity portfolio 3 0.01 -24 -0.09 27 0.10 -112.5 Gains/losses on shares -6 -0.02 -4 -0.02 -2 0.00 50.0 Net Income Financial Instruments 17 0.06 12 0.05 5 0.01 41.7 Other Income 88 0.33 83 0.32 5 0.01 6.0 Total Other Income 102 0.38 67 0.26 35 0.12 52.2 Total Income 613 2.28 589 2.30 24 -0.02 4.1 Salaries and wages 129 0.48 131 0.52 -2 -0.04 -0.8 Other expenses 115 0.42 104 0.40 11 0.02 9.6 Total operating expenses 244 0.91 235 0.92 9 -0.01 3.8 Profit before losses 369 1.37 354 1.38 15 -0.01 4.2 Losses on loans and guarantees -24 -0.09 21 0.08 -45 -0.17 -214.3 Pre-tax profit 393 1.46 333 1.30 60 0.16 18.0 Taxes 96 0.36 82 0.32 14 0.04 17.1 Profit after tax 297 1.10 251 0.98 46 0.12 18.3 Return on equity (ROE) % 14.1 12.2 1.9 Cost/Income ratio 39.8 40.0 -0.2 Profit per EC (NOK) 2.78 2.03 0.75 35
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Results per Q4 Key figures per Q4 2025 and Q4 2024 Per Q4 2025 Per Q4 2024 Changes Results MNOK % MNOK % MNOK p.p. % Net Interest Income 2 014 1.89 2 071 2.08 -57 -0.19 -2.8 Gains/losses liquidity portfolio 25 0.02 -8 -0.01 33 0.03 -407.6 Gains/losses on shares 1 0.00 -9 -0.01 10 0.01 -111.1 Net Income Financial Instruments 33 0.03 60 0.06 -27 -0.03 -45.0 Other Income 317 0.30 287 0.29 30 0.01 10.5 Total Other Income 376 0.35 330 0.33 46 0.02 13.8 Total Income 2 390 2.24 2 401 2.41 -11 -0.17 -0.5 Salaries and wages 538 0.50 525 0.53 13 -0.03 2.5 Other expenses 455 0.43 430 0.43 25 0.00 5.8 Total operating expenses 993 0.93 955 0.96 38 -0.03 4.0 Profit before losses 1 397 1.31 1 446 1.45 -49 -0.14 -3.4 Losses on loans and guarantees 47 0.04 20 0.02 27 0.02 135 Pre-tax profit 1 350 1.26 1 426 1.43 -76 -0.17 -5.4 Taxes 320 0.30 340 0.34 -20 -0.04 -5.9 Profit after tax 1 030 0.97 1 086 1.09 -56 -0.12 -5.2 Return on Equity (ROE) % 12.5 13.7 -1.2 Cost/Income ratio 41.6 39.8 1.8 Profit per EC (NOK) 9.57 9.95 -0.38 36
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Balance sheet and key figures Key figures for 2025 and 2024 31.12.25 31.12.24 Changes Balance sheet MNOK % Total Assets 109 418 102 335 7 083 6.9 Loans to customers 89 469 86 875 2 594 3.0 Deposits from customers 53 335 49 550 3 785 7.6 Net Equity and Subordinated Loans 8 945 8 649 296 3.4 Key Figures 31.12.24 Changes p.p.31.12.25 Return on Equity 12.5 13.7 -1.2 Cost/Income Ratio 41.6 39.8 1.8 Capital Adequacy Ratio 21.5 21.1 0.4 Tier 1 Capital 19.5 19.0 0.5 CET1 17.7 17.2 0.5 Leverage Ratio 7.2 7.4 -0.2 Profit per EC (NOK, the Group) 9.57 9.95 -0.38 Profit per EC (NOK, the bank) 9.28 9.55 -0.27 37
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Specification of Other Income For 2025 and 2024 (NOK million) 2025 2024 Changes y/y Guarantee commission 34 27 7 Income from the sale of insurance services (non-life/personal) 36 33 3 Income from the sale of fund saving products 18 15 3 Income from Discretionary Portfolio Management 67 55 12 Income from money-transfer services 108 99 9 Other fees and commission income 42 42 0 Commission income and income from banking services 305 271 34 Commission expenses and expenses from banking services 34 40 -6 Income from real estate brokerage 42 47 -5 Other operating income 4 9 -5 Total other operating income 46 56 -10 Net commission and other operating income 317 287 30 Interest rate hedging (for customers) 1 17 -16 Currency hedging (for customers) 20 31 -11 Dividend received 6 14 -8 Net gains/losses on shares 1 -9 10 Net gains/losses on bonds 25 -8 33 Change in value of fixed-rate lending -7 -7 0 Change in value of issued bonds 14 7 7 Net gains/losses related to buy back of outstanding bonds -1 -2 1 Net result from financial instruments 59 43 16 Total other income 376 330 46 38
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Specification of expences For 2025 and 2024 (NOK million) 2025 2024 Changes y/y Wages 384 379 5 Pension expenses 35 24 11 Employers’ social security contribution and Financial activity tax 86 88 -2 Other personnel expenses 33 34 -1 Wages. salaries. etc. 538 525 13 Depreciations 62 55 7 Operating expenses own and rented premises 20 17 3 Maintenance of fixed assets 7 7 0 IT-expenses 233 209 24 Marketing expenses 37 44 -7 Purchase of external services 35 37 -2 Expenses related to postage. telephone. newspapers etc. 10 9 1 Travel expenses 6 6 0 Capital tax 17 13 4 Other operating expenses 28 32 -4 Total other operating expenses 393 375 18 Total operating expenses 993 955 38 39
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EC capital in Sparebanken Møre The largest owners (1-10) of EC capital EC holder Number of ECs 31.12.25 30.09.25 Sparebankstiftelsen Tingvoll 4.838.376 4.837.594 Verdipapirfondet Eika Egenkapitalbevis 3.862.238 3.285.728 Spesialfondet Borea Utbytte 2.359.089 2.381.737 Wenaasgruppen 2.200.000 2.200.000 Kommunal Landspensjonskasse 1.692.107 1.692.107 MP Pensjon 1.672.018 1.672.018 Pareto Aksje Norge 1.486.742 1.464.542 Wenaas EFTF AS 800.000 1.000.000 Beka Holding AS 750.500 750.500 J.P. Morgan SE (nominee) 659.187 659.187 Total 10 largest 20.320.257 20.084.226 Of which Møre og Romsdal 7.838.376 8.037.594 Of which Møre og Romsdal in % 38,6 40,0 40
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EC capital in Sparebanken Møre 41 The largest owners (11-20) of EC capital EC-holder Number of ECs 31.12.25 30.09.25 Lapas AS 641.490 634.384 BKK Pensjonskasse 507.600 507.600 Forsvarets personellservice 461.000 461.000 Sparebankstiftelsen Sparebanken Møre 360.750 360.750 Hjellegjerde Invest AS 300.000 300.000 U Aandahls EFT AS 250.000 250.000 Sparebanken Møre*) 231.141 171.741 PIBCO AS 229.500 229.500 Borea Nordisk Utbytte Verdipapirfond 204.406 200.476 Borghild Hanna Møller 201.438 201.438 Total 20 largest 23.707.582 23.888.561 Of which Møre og Romsdal 9.823.195 9.784.166 Of which in Møre og Romsdal in % 41,4 41,0 *of which, 50,000 ECs lent to Artic according to market making-agreement