Interim report
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3. Quarter 2025
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Table of Contents Group financial highlights and key figures Report of the Board of Directors– 3. Quarter 2025 Statement of Financial Performance Other comprehensive income Balance sheet Statement of Changes in Equity Statement of Cash Flows Result from the Group's quarterly accounts Notes Group financial results and key figures55 Important events in the quarter55 Macroeconomic trends66 Sustainability88 Financial performance99 Balance sheet development1919 Liquidity2020 Financial strength and capital adequacy2020 Concluding remarks and outlook2222 Note 1 Accounting policies3131 Note 2 Important accounting estimates and discretionary judgements 3131 Note 3 Net interest income3232 Note 4 Net fee-, commission- and other operating income 3333 Note 5 Net income from financial investments 3333 Note 6 Expenses3434 Note 7 Leases3535 Note 8 Losses3737 Note 9 Business Areas3838 Note 10 Loans3939 Note 11 Loss provisions4444 Note 12 Financial instruments at fair value4545 Note 13 Subsidiaries, associated companies and joint ventures 4747 Note 14 Other assets4747 Note 15 Financial derivatives4848 Note 16 Deposits4949 Note 17 Securities issued4949 Note 18 Other liabilities5050 Note 19 Subordinated debt and loan capital5050 Note 20 Equity5151 Note 21 Capital Adequacy and MREL5454 Note 22 Liquidity risk5656 Note 23 Changes to group structure5656 Note 24 Events occuring after the end of the quarter 5757 3. K3. Kvarvartaltal | Table of Contents 2
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Group financial highlights and key figures RResultesult (Amounts in NOK million and in % of average assets) 30.09.2530.09.25 %% 30.09.24 % 31.12.24 % Net interest income 5 33 026026 2,872,87 %% 3 001 3,03 % 4 028 3,03 % Net fee- and other operating income 11 080080 1,021,02 %% 1 023 1,03 % 1 541 1,16 % Net income from financial investments 739739 0,0,7070 %% 910 0,92 % 1 056 0,80 % TTotal incomeotal income 5 44 845845 4,594,59 %% 4 934 4,98 % 6 625 4,99 % TTotal costsotal costs 5 11 526526 1,1,4545 %% 1 407 1,42 % 2 003 1,51 % RResult befesult beforore lossese losses 3 319 3,15 % 3 527 3,56 % 4 622 3,48 % Losses 5 2323 0,020,02 %% 86 0,09 % 110 0,08 % RResult befesult beforore taxe tax 3 296 3,13 % 3 441 3,48 % 4 512 3,40 % Tax 631631 0,600,60 %% 630 0,64 % 849 0,64 % RResult after taxesult after tax 5 2 665 2,50 % 2 811 2,81 % 3 663 2,74 % Interest hybrid capital 5 8383 73 100 RResult after tax eesult after tax ex. interx. interest hybrid capitalest hybrid capital 55 2 582 2 738 3 563 PrProofitabilityfitability Return on equity capital 1, 5 18,918,9 %% 22,9 % 21,8 % Interest margin 2, 5 2,872,87 %% 3,03 % 3,03 % Cost/income 3, 5 31,531,5 %% 28,5 % 30,2 % Balance sheet figurBalance sheet figures and liquidityes and liquidity 30.09.25 30.09.24 31.12.24 Total assets 143143 587587 135 207 135 673 Average assets 4, 5 140140 604604 131 984 132 721 Gross loans 5 110110 235235 105 385 105 048 Gross loans incl. commition loans 5 160160 294294 151 014 152 965 Deposits 5 9393 617617 87 496 88 379 Liquidity Coverage Ratio (LCR) 146146 146 147 SoliditySolidity Common Equity Tier 1 Capital 16,216,2 %% 15,7 % 16,8 % Tier 1 Capital Ratio 18,18,11 %% 17,4 % 18,8 % Total Capital Ratio 20,620,6 %% 19,9 % 21,3 % Common Equity Tier 1 Capital 1414 680680 13 000 14 054 Tier 1 Capital 1616 322322 14 405 15 728 Own Funds 1818 624624 16 525 17 829 Total risk exposure amount 9090 387387 82 970 83 678 Leverage Ratio 77,,44 %% 7,2 % 7,8 % NONG KNONG Keey figury figureses NONG Quoted/market price (NOK) 140,60140,60 108,26 123,48 Number of EC issued (mill) 100,100,4040 100,40 100,40 Equity capital per EC (NOK) 84,5984,59 77,70 81,33 Result per EC (NOK) 11,11,7777 12,51 16,30 P/E (Price/Earnings per EC) NOK 8,968,96 6,49 7,58 P/B (Price/Book Value per EC) NOK 1,661,66 1,39 1,52 Branches and full-time emploBranches and full-time employyeesees Branches 1515 15 15 Group manyears 981981 978 986 Parent bank manyears 550550 537 541 1 The profit after tax in relation to average equity, calculated as a quarterly average of equity and at 01.01. The Bank's hybrid 1 capital issued are classified as equity in the financial statements. However, when calculating the return on equity, hybrid tier 1 capital are decucted from equity, and result after tax are adjusted for interests on hybrid tier 1 capital. 2 Net total interests as a percentage of average total assets. 3 Total costs as a percentage of total net income. 3. K3. Kvarvartaltal | Group financial highlights and key figures 3
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4 Average assets are calculated as average assets each quarter and at 01.01. 5 Defined as alternative performance measures, see attachment to the Quarterly report 3. K3. Kvarvartaltal | Group financial highlights and key figures 4
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Report of the Board of Directors– 3. Quarter 2025 Group financial results and key figures (Amount in NOK million ) 3Q253Q25 3Q24 Change 30.09.2530.09.25 30.09.24 Change Result after tax 903903 1 344 - 441 22 665665 2 811 - 146 Result per EC 3,993,99 6,04 -2,05 11,11,7777 12,51 -0,74 Return on equity 19,319,3 %% 32,1 % -12,8 % 18,918,9 %% 22,9 % -3,9 % Cost/income 31,31,11 %% 23,0 % -8,1 % 31,531,5 %% 28,5 % -3,0 % Common Equity Tier 1 Capital Ratio 16,216,2 %% 14,9 % 1,3 % 16,216,2 %% 14,9 % 1,3 % Growth loans retail market 12,12,11 %% 7,5 % 4,6 % 9,09,0 %% 4,3 % 4,7 % Growth loans corporate market 3,63,6 %% 7,0 % -3,4 % 1,1,44 %% 7,9 % -6,5 % Growth loans total 9,29,2 %% 7,3 % 1,9 % 6,36,3 %% 5,5 % 0,8 % Growth deposits retail market -5,-5,77 %% -10,5 % 4,9 % 77,5,5 %% 4,1 % 3,4 % Growth deposits corporate market --15,915,9 %% -10,9 % -5,0 % 6,6,77 %% 0,2 % 6,4 % Growth deposits total --10,510,5 %% -10,7 % 0,2 % 77,,11 %% 2,3 % 4,9 % Result from ownership interests 189189 583 - 394 420420 694 - 274 Result from financial assets 4848 106 - 58 319319 216 103 Losses -- 44 35 39 2323 86 63 Important events in the quarter SpareBank 1 Nord-Norge (SNN) is satisfied with the results in 3Q25. The results are driven by solid underlying banking operations, low losses, satisfactory contributions from the alliance companies, and a positive result from financial items. Total lending growth in the quarter (annualised) was 9.2 per cent, indicating that the Group is gaining market share. A return on equity in 3Q25 alone of 19.3 per cent, and a cost/income of 31.1 per cent, are well within the Group’s target. SNN has, throughout 2025, delivered significantly higher lending growth in PM than underlying credit growth, with total annualised lending growth of 12.1 per cent (including loans transferred to SB1 Boligkreditt), while actual 12-month growth was 9.0 per cent. BM growth (annualised) in 3Q25 was 3.6 per cent, and actual 12-month growth was 1.4 per cent. Growth in PM has been good throughout 2025, and the Group has succeeded with our strategy of gaining market share, especially in regions with population growth. In BM, growth is lower than in recent years, which is linked both to low new residential construction and general uncertainty around the cyclical outlook. Here, both persistently high interest rates and elevated geopolitical and political uncertainty play a role. Norges Bank’s unclear communication regarding the interest rate path, and the assessments in the latest Monetary Policy Report indicating slower and smaller rate cuts than expected, keep the situation uncertain. Despite continued uncertainty, we see that BM growth has picked up somewhat over the year, and we expect further growth in 2026. Nonetheless, the bank chooses to adjust down expectations for lending growth in BM from 3–6 per cent to 2–5 per cent. Conversely, the forecast for lending growth in PM is adjusted from 4–7 per cent to 7–10 per cent growth. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 5
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Underlying credit growth in BM is also low. Despite somewhat lower BM growth than expected, the Group is gaining market share across all product areas, demonstrating a high degree of competitiveness. The underlying economic basis for large parts of the region’s business sector is considered sound. Over time, the macroeconomic situation in Nord-Norge has been better than the national average. Important factors have been strong commodity prices, a weak krone, and low electricity prices. There is little to suggest that this will change in the near term, even though the cod fisheries face a further quota reduction. Underlying losses remain low, and the impairment assessment under IFRS 9 produced a net positive effect on profit of NOK 4 million in 3Q25. This is mainly due to a positive migration in the portfolio resulting from changes in the macro assumptions in the ECL model in line with Norges Bank’s estimates and altered scenario weighting. Otherwise, there have been only small changes in non- performing and credit-impaired exposures (Stage 3) in 3Q25. Losses remain at historically low levels. This may be related to the fact that the Group has in recent years worked systematically to reduce risk in the lending portfolio. The Group’s lending portfolio is considered solid, and the vast majority of customers appear to handle the macroeconomic challenges well. Nevertheless, the Group observes that individual customers and vulnerable industries face greater challenges than others. For that reason, as a matter of prudence the Group has chosen to place both individual exposures and larger exposures in vulnerable industries on a “watchlist”. This entails ongoing and close follow-up of these exposures. Despite reduced expectations of an imminent rate cut, there is somewhat more optimism in the business sector, and the outlook for the remainder of 2025 and 2026 is considered good. Despite this, the Group continues to emphasise close follow-up of customers, especially in BM, but also for vulnerable customers in PM. SNN has a good customer portfolio, a strong market position, competitive terms, and cost-efficient operations. The Group is therefore well positioned to be a good partner for customers in Nord- Norge and expects to continue gaining market share through profitable and balanced growth. Macroeconomic trends Global economy - ImprGlobal economy - Improovved global GDP gred global GDP groowthwth Not surprisingly, large parts of the third quarter have also been characterised by customs and trade negotiations. Many countries have entered into trade agreements with the USA, with tariffs ranging from 10 to 50 per cent. The negotiations between the EU and the USA attracted considerable attention, and after intense discussions the parties concluded an agreement at 15 per cent. In addition, the EU has committed to increasing investments in the USA and opening its markets to American goods. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 6
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Expectations for global GDP growth have been revised upwards during the quarter. In the second quarter, the forecast was for annual global growth of 2.6 per cent. This havs increased to 2.8 per cent during the third quarter. Growth continues to be driven by emerging economies led by India and China, while growth in the West lags behind. The US Federal Reserve (FED) decided in September to cut the policy rate to 4.00–4.25 per cent and simultaneously signalled further cuts within the current year. The committee was divided, with one member favouring larger and faster cuts, while the others preferred a more cautious approach. The rate cut was primarily justified by a weakening labour market, while inflation remains above target. The Swedish central bank also decided, somewhat unexpectedly, to cut its policy rate in September. This decision was explained by a weaker labour market and lower GDP growth, despite inflation in Sweden also remaining above target. After a highly volatile second quarter, equity markets have risen steadily throughout the third quarter, setting new record highs. The broad US index S&P500 ended the quarter up 7.8 per cent. Similarly, Europe’s FTSE100 index closed up 6.7 per cent. NorNorwwegian Eegian Economy – Incrconomy – Increasing optimism in the housing markeasing optimism in the housing market in Noret in Northern Northern Norwawayy Norges Bank somewhat unexpectedly decided to cut the policy rate to 4.0 per cent at its September meeting. At the same time, it raised the future interest rate path, signalling that it expects fewer cuts than previously indicated. The background for this change is complex. Norwegian business activity is strong, and according to reporting from the Regional Network, there is improvement across the country. Companies plan to increase staffing, and several report difficulties in finding qualified labour. The construction industry is finally showing the first signs of improvement, with building permits and housing starts rising slightly, albeit from historically low levels. Unemployment remains low, and private consumption is picking up. At the same time, inflation remains above Norges Bank’s target, which is a long-term core inflation of 2 per cent. Credit growth for households has increased so far this year. It bottomed out in March 2024 with an annual growth rate of 2.7 per cent and has now risen to 4.2 per cent. Businesses have also increased credit growth somewhat but remain significantly lower with an annual growth rate just above 2 per cent. The Norwegian housing market showed signs of levelling off in September, with stable prices and slightly lower turnover. Uncertainty regarding further interest rate cuts will likely affect transactions going forward. There are still large regional differences, with stronger developments in central areas than in rural districts. The Oslo Stock Exchange has performed weaker than global indices during the quarter. The result was an increase of 1.4 per cent, while the rise so far this year has been 15.4 per cent. NorNorthern Northern Norwwegian Eegian Economy – Larconomy – Larger Invger Investments in Norestments in Nordland than in Tdland than in Trroms and Finnmarkoms and Finnmark CombinedCombined Optimism in the housing market in Northern Norway is increasing, driven by expectations of rising house prices, improved economic conditions, and no growth in the housing portfolio. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 7
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The Housing Market Index (kbnn:index) continues to rise cautiously and is now at its highest level since March 2023. The kbnn:index is based on households’ expectations regarding their own economy, house prices, moving plans, and whether they intend to buy or sell a home first. The index provides an overall picture of the housing market sentiment in Northern Norway. Compared with September 2024, it is primarily expectations of higher house prices that are pushing the Housing Market Index upwards. Expectations for personal finance also contribute positively, although they remain lower than a year ago. On the other hand, both the Home Sales Index and the Moving Index are pulling the Housing Market Index down. More households now state that they will buy a new home before selling their existing one, while the majority still plan to sell before buying. The Moving Index shows that fewer households have moving plans than in September 2024. Expectations for personal finances have fluctuated somewhat since measurements began. In September 2025, 52 per cent of households expect their financial situation to remain roughly unchanged in 12 months. The proportion expecting improvement has risen from 23 per cent in June to 27 per cent in September. This is about the same level as in September last year. The proportion of households with moving plans has declined over the past year. After peaking at 38.6 per cent in December 2024, the share has fallen to 31.2 per cent in September 2025. This corresponds to a decrease of 5 percentage points since September last year. Nevertheless, the survey shows slight growth or levelling off in the last quarter following the drop from December. The full report can be read at kbnn.no. Sustainability In the third quarter of 2025, priority has been given to following up and operationalising the strategic guidelines adopted in the previous quarter. Particular emphasis has been placed on embedding the revised sustainability policy within the Group’s governance structure and business areas, monitoring the double materiality analysis, and revising the Group’s transition plan. Preparations and training related to the Group’s reporting in line with CSRD have also been prioritised this quarter. The financial year 2025 marks the second year that SNN reports in accordance with CSRD. For further details on the Group’s sustainability work in compliance with current legal reporting requirements, please refer to the 2024 Annual Report. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 8
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Financial performance (Amount in NOK million) 3Q253Q25 3Q24 Change Total income 11 617617 2 061 - 444 Total costs 503503 474 -29 Losses --44 35 39 Tax 215215 208 -7 Profit after tax 903903 1344 -441 The Group’s profitability target is a return on equity among the highest of comparable financial groups. The Board currently considers this to be a return on equity of 13 per cent or more. The income statement for 3Q25 in isolation, after tax, shows a profit of NOK 903 million (NOK 1 344 million), which gives a return on equity for the quarter of 19.3 per cent (32.1 per cent). Year to date, the result after tax is NOK 2 665 million (NOK 2 811 million). Return on equity year to date is 18.9 per cent (22.9 per cent). Last year’s result was extraordinarily high due to the merger in SpareBank 1 Gruppen with Eika Forsikring and Fremtind Forsikring. Net interest income Norges Bank reduced the policy rate by 0.25 percentage points in June from 4.5 per cent to 4.25 per cent. The change affects SpareBank 1 Nord-Norge’s interest rate setting and interest margins from the third quarter. In September, Norges Bank further reduced the policy rate by 0.25 percentage points to 4.0 per cent, and the expected effect of this in the Group’s accounts will appear in the second half of the fourth quarter. Net interest income in 3Q25 amounts to NOK 1 016 million (NOK 1 020 million), which is NOK 13 million more than the previous quarter. Year to date, net interest income is NOK 3 026 million, which is slightly up compared with the same period last year (NOK 3 001 million). Relative to average total assets (ATA), net interest income amounts to 2.87 per cent as of 3Q25 (3.03 per cent). Funding costs in the credit institutions have remained relatively stable over the past quarter. Net commission and other income Net commission and other income in 3Q25 amounts to NOK 364 million (NOK 352 million). The income has decreased by NOK 6 million from 2Q25 (NOK 370 million). 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 9
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Year to date, net commission and other income is NOK 1 080 million, which is an increase of 5.6 per cent compared with the same period last year (NOK 1 023 million). SpareBank 1 Boligkreditt contributes positively to the quarterly accounts with NOK 60 million (NOK 46 million) in commissions, which is NOK 3 million less than the previous quarter (NOK 63 million). The commission rate from SpareBank 1 Boligkreditt has increased in 2025, which has helped commission income year to date reach NOK 176 million (NOK 137 million). Refer to Note 4 in the quarterly report for a detailed specification of net commission and other income. Net income from financial investments Net income from financial investments in 3Q25 amounts to NOK 237 million (NOK 689 million), which is a decrease of NOK 61 million from 2Q25 (NOK 298 million). Dividends and profit shares account for NOK 190 million in the quarter, the change in value of shares and other securities amounts to NOK 50 million, and the change in value of currency and derivatives amounts to NOK -3 million. Year to date, net income from financial investments is NOK 739 million (NOK 910 million). Dividends and profit shares account for NOK 543 million, while the change in value of shares and other securities amounts to NOK 203 million. Gains/losses and net changes in value on currency and derivatives, as well as loans, amount to NOK -7 million. Costs Costs for 3Q25 amount to NOK 503 million (NOK 474 million). Compared with 2Q25, the Group’s operating expenses have decreased by NOK 28 million. The reduction from 2Q25 is due to lower administrative expenses related to a one-off cost to TietoEvry. Year to date, costs amount to NOK 1 523 million (NOK 1 407 million). Part of the increase compared with the same period last year is due to one-off costs in 2Q25 of NOK 46 million, combined with price and wage growth. Developments in market divisions Retail Market (RM) Net interest income in 3Q25 amounts to NOK 408 million (NOK 467 million), a decrease of NOK 39 million compared with 2Q25 (NOK 447 million). Year to date, net interest income is NOK 1 275 million (NOK 1 326 million). Net commission and other income in the quarter amounts to NOK 246 million (NOK 175 million), compared with NOK 178 million in 2Q25. Commission income from SpareBank 1 Boligkreditt in the last 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 10
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quarter is NOK 60 million, NOK 14 million higher than in 3Q24 (NOK 46 million), but NOK 3 million lower than in 2Q25 (NOK 63 million). Year to date, net commission and other income is NOK 586 million (NOK 486 million). The main single reason for the increase compared with the same period last year is commissions from SpareBank 1 Boligkreditt of NOK 176 million (NOK 137 million). Margin development in the retail market measured against average 3-month NIBOR: RM 0.35%0.35% 0.72%0.72% 0.96%0.96% 1.06%1.06% 1.02%1.02% 1.03%1.03% 1.16%1.16% 1.12%1.12% 1.21%1.21% 3.21%3.21% 2.92%2.92% 2.54%2.54% 2.50%2.50% 2.54%2.54% 2.48%2.48% 2.13%2.13% 2.20%2.20% 1.93%1.93% Lending margin retail Deposit margin retail 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 The lending margin for RM, measured against the average 3-month NIBOR, increased by 0.09 percentage points (-0.04 percentage points) during the quarter. The main explanation for the margin increase is a lower average NIBOR in 3Q25 compared to 2Q25. At the same time, there is significant price competition on well-secured home loans, making it challenging to maintain the lending margin over time. Lending growth in RM for 3Q25, including loans transferred to SB1 Boligkreditt, is 3.0 per cent (1.9 per cent). Annualised, this corresponds to an annual growth of 12.1 per cent (7.5 per cent). Actual growth over the past 12 months is 9.0 per cent (4.3 per cent). Total gross lending volume in RM parent bank, excluding loans transferred to SB1 Boligkreditt as of 3Q25, is NOK 49 465 million (NOK 46 187 million). In 3Q25, the deposit margin decreased by 0.27 percentage points (increase of 0.04 percentage points). The NIBOR rate fell at the end of 3Q25 following Norges Bank’s rate cut, which in isolation will have a negative effect on the deposit margin going forward. The Group is actively working to 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 11
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maintain the deposit margin, but future developments will depend on the NIBOR rate and the competitive situation for deposits. Deposit growth in RM in the last quarter is -1.4 per cent (-2.6 per cent). Annualised, this corresponds to an annual growth of -5.7 per cent (-10.5 per cent). Actual RM deposit growth over the past 12 months is 7.5 per cent (4.1 per cent). Deposits are a favourable form of funding, and the bank will continue to emphasise maintaining a high deposit coverage ratio. Total operating expenses in the RM division in 3Q25 are NOK 175 million (NOK 143 million), compared to NOK 204 million in 2Q25. The decrease from 2Q25 is due to the one-off cost related to TietoEvry in the previous quarter. Accumulated operating expenses are NOK 516 million (NOK 409 million). At the end of 3Q25, there are 234 full-time equivalents associated with the RM division in the parent bank (226), the same number as at the end of 2Q25. Losses in RM were reversed in 3Q25 by NOK 3 million (compared to an increase in losses of NOK 12 million in the same period last year). In 2Q25, there was a reversal of NOK 1 million in losses. Losses so far this year amount to NOK 4 million (NOK 11 million). Corporate Market (CM) Net interest income in 3Q25 is NOK 369 million (NOK 379 million), compared with NOK 391 million in 2Q25. Year to date, income has increased to NOK 1 140 million (NOK 1 094 million). Net commission and other income in the quarter is NOK 49 million (NOK 47 million), compared with NOK 51 million in 2Q25. Accumulated in 2025, net commission and other income is NOK 148 million (NOK 140 million). Margin development in the Corporate market measured against average 3-month NIBOR: 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 12
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CM 2.24%2.24% 2.49%2.49% 2.57%2.57% 2.57%2.57% 2.58%2.58% 2.61%2.61% 2.74%2.74% 2.66%2.66% 2.56%2.56% 1.16%1.16% 0.92%0.92% 0.98%0.98% 0.96%0.96% 0.97%0.97% 0.93%0.93% 0.85%0.85% 0.85%0.85% 0.74%0.74% Lending margin corporateDepost margin corporate 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Lending margin CM measured against the average 3-month NIBOR has decreased by 0.10 percentage points to 2.56 per cent in 3Q25 after a slight increase at the same time last year. The margin on CM is largely directly linked to the development of the NIBOR rate, as 78 per cent (76 per cent) of the loan portfolio is NIBOR-related. Loan growth CM in 3Q25 in isolation is 0.9 per cent (1.8 per cent), which annualised amounts to 3.6 per cent (7.0 per cent). Actual growth over the past 12 months is 1.4 per cent (7.9 per cent). Credit demand in CM remains lower than in recent years, mainly due to persistently high interest rates, a complete halt in new housing construction, and increased geopolitical uncertainty. Total gross lending volume CM parent bank as of 3Q25 is NOK 56 622 million (NOK 54 127 million). Deposit margin CM measured against 3-month NIBOR has a decline of 0.11 per cent compared to 2Q25 (+0.01 percentage points). The reason why the margin does not follow the same trend as in RM is that as much as 66 per cent (68 per cent) of deposits in CM are NIBOR-linked, unlike RM deposits which are to a very small extent subject to NIBOR terms. Growth in CM deposits in isolation in 3Q25 is -4.0 per cent (-2.7 per cent). Annualised, this amounts to -15.9 per cent (-10.9 per cent). Actual deposit growth over the past 12 months is 6.7 per cent including the public market (0.2 per cent). Total operating expenses in the CM division in isolation in 3Q25 are NOK 116 million (NOK 93 million), compared to NOK 119 million in 2Q25. Year-to-date operating expenses amount to NOK 333 million (NOK 262 million). 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 13
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At the end of 3Q25, there were 117 full-time equivalents in the parent bank associated with the CM division (100). The number of full-time equivalents is an increase of 3 compared to the end of 2Q25. In CM, isolated in 3Q25, impairment costs are NOK 5 million (reversed NOK 1 million). In 2Q25, there was a reversal of impairment costs of NOK 24 million. Accumulated year-to-date, the impairment cost on loans is NOK 29 million (NOK 63 million). Financial Investments – income and events in the accounting period An overview of the quarter’s total income from financial investments can be found in note 5 of the quarterly financial statements. In addition, results from subsidiaries, associated companies and jointly controlled entities are specified in note 13. Associated companies and joint ventures Shares of profit from associates (TS) and jointly controlled entities (FKV) amount to NOK 189 million in isolation for 3Q25 (NOK 583 million). Last year’s result was extraordinarily high when Eika Forsikring became part of the SpareBank 1 Gruppen group. Accumulated, the share of profit from TS and FKV is NOK 420 million (NOK 694 million). The most significant TS are commented on below: SparSpareBankeBank 1 Gruppen1 Gruppen SpareBank 1 Gruppen group achieved a result in the third quarter of NOK 1 636 million (NOK 1 089 million) before tax and NOK 1 292 million (NOK 825 million) after tax. There was a very strong insurance result in the Fremtind Holding group and a solid third-quarter result from SpareBank 1 Forsikring and Kredinor. Return on equity for SpareBank 1 Gruppen in the third quarter was 22.7 per cent (19.4 per cent). As of the third quarter, SpareBank 1 Gruppen group achieved a result before tax of NOK 3 958 million (NOK 1 667 million) and NOK 3 062 million (NOK 1 240 million) after tax. Annualised return on equity for SpareBank 1 Gruppen was 18.2 per cent (10.0 per cent). SpareBank 1 Nord-Norge’s share of the result was NOK 136 million in 3Q25 (NOK 538 million) and NOK 309 million (NOK 578 million) year to date. SparSpareBank 1 BoligkreBank 1 Boligkreditteditt The result for 2Q25 is a profit of NOK 95 million (NOK 167 million). SpareBank 1 Nord-Norge's share of the result in 2Q25 is NOK 11 million (NOK 24 million). 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 14
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SparSpareBank 1 FeBank 1 Fororvaltningvaltning The group consists of the companies SpareBank 1 Forvaltning and ODIN. The group’s result before tax as of 30.09.25 was NOK 256.3 million, which is NOK 32 million higher than for the same period last year. Operating income is NOK 798 million, NOK 76.5 million higher than for the same period last year. Management fees have increased by NOK 360.5 million compared with the same period last year due to growth in assets under management. At the same time, commission expenses and remuneration to the bank have increased by NOK 304.8 million because the group’s growth in assets under management has occurred in the large-customer segment with high commissions, and due to the transition to a new remuneration model for the bank. The increase in net management fees is therefore NOK 55.6 million from the same period in 2024. Operating expenses (excluding bonus) have increased by NOK 47 million compared with the same period in 2024. SpareBank 1 Nord-Norge’s share of the result in 3Q25 is NOK 8 million (NOK 8 million). Year to date, SpareBank 1 Nord-Norge’s share of the result is NOK 23 million (NOK 20 million). SparSpareBank 1 BetalingeBank 1 Betaling The company is the owner of Vipps Holding AS, which in turn owns MobilePay AS, and recognises the result from this company using the equity method. SpareBank 1 Nord-Norge’s share of the result in 3Q25 is NOK 2 million (loss of NOK 1 million), and the accumulated share of profit is NOK -8 million (NOK -15 million). SparSpareBank 1 MarkeBank 1 Marketsets Then SpareBank 1 Markets (now SB1 Markets) took over SpareBank 1 Nord-Norge’s Markets operations from December 2023. At the same time, the bank increased its ownership stake in this company, and it is now accounted for as an associate based on the equity method. In September 2025, SNN sold a portion of its shares to Swedbank. SNN's ownership stake in SB1 Markets decreased from 18.06% to 14.45%, and a realized gain of NOK 4 million has been recognized in the quarter. September was the first month of operations for the new branch in Sweden, and the September figures include the Swedish business. The result in SB1 Markets in 3Q25 is NOK 32 million (NOK 51 million). SpareBank 1 Nord-Norge’s share of the result in the quarter is NOK 10 million (NOK 9 million). Accumulated share of profit year to date is NOK 27 million (NOK 32 million). 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 15
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Subsidiaries The group’s subsidiaries are fully consolidated into the group’s accounts and deliver a total result after tax in the quarter of NOK 67 million (NOK 53 million). Year to date, the result after tax is NOK 213 million (NOK 195 million). EiendomsMegler 1 NorEiendomsMegler 1 Nord-Nord-Norgege The company has a positive result after tax of NOK 7 million in 3Q25. The corresponding result in 2Q25 was positive at NOK 16 million. The number of homes sold in 3Q25 is 1 044 (982), compared with 1 045 homes sold in 2Q25. Operating income in 3Q25 is NOK 68 million (NOK 63 million), while costs for the quarter are NOK 58 million (NOK 54 million). There are 109 (112) full-time equivalents employed at the end of 3Q25. Accumulated, the result after tax is NOK 31 million (NOK 21 million). Operating income is NOK 186 million (NOK 167 million), while operating expenses are NOK 149 million (NOK 139 million). A total of 2 951 units have been sold in the first nine months of the year. SparSpareBank 1 ReBank 1 Regnskegnskapshuset Norapshuset Nord-Nord-Norgege The company has a result after tax of NOK 1 million in isolation in 3Q25 (loss of NOK 2.8 million). Operating income in 3Q25 is NOK 74 million, while total costs are NOK 73 million. The company is undergoing a restructuring process following two mergers in 2024, and a gradual improvement in the result is expected over the coming years. There are 281 (288) full-time equivalents employed at the end of 3Q25, representing a reduction of 7 full-time equivalents compared with the same time last year. Year to date, the result after tax is NOK 16 million (NOK 18 million). SparSpareBank 1 Finans NoreBank 1 Finans Nord-Nord-Norgege The company has a result after tax of NOK 58 million in 3Q25, compared with NOK 49 million in 3Q24. The company’s income in 3Q25 has increased by 11 per cent compared with the same period last year, from NOK 85 million to NOK 94 million. At the same time, operating expenses have increased by 4.5 per cent, from NOK 22 million to NOK 23 million. There are 41 (unchanged) full-time equivalents employed at the end of 3Q25. Net losses in the quarter are NOK 5 million lower than in the corresponding quarter last year. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 16
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The result after tax year to date is NOK 172 million (NOK 149 million). Net interest income compared with the same time last year is NOK 302 million (NOK 279 million). Total net income is NOK 280 million (NOK 263 million), while operating expenses are NOK 63 million (NOK 55 million). Impairment losses on loans show a cost reduction of NOK 10 million year to date (+NOK 11 million). FrFredrik Langes gate 20 ASedrik Langes gate 20 AS The company has a result after tax of NOK 2 million in 3Q25. Year to date, the result after tax is NOK -5 million (NOK +5 million). The reason for the loss is a property transaction to Rødbank en in 2Q25. Equities portfolio The Group’s equity portfolio amounts to NOK 1 708 million as of 3Q25, compared with NOK 1 462 million as of 3Q24, and NOK 1 664 million as of 2Q25. The Parent Bank’s equity portfolio experienced a positive value development in 3Q25 of NOK 45 million (NOK 92 million), due to an increased value of holdings in SpareBank 1 Helgeland by NOK 27 million and BN Bank by NOK 19 million. Certificates, bonds, currency and derivatives The Group’s holding of certificates and bonds as of 3Q25 amounts to NOK 21 717 million, compared with NOK 19 789 million as of 3Q24, and NOK 23 800 million as of 2Q25. Total net value changes isolated in 3Q25 on the bond portfolio amount to a net unrealised gain of NOK 5 million (NOK 3 million). There has been no value change on the portfolio of fixed-rate loans (same as last year) in the Group in 3Q25. An overview of the Group’s derivatives can be found in note 15 of the quarterly financial statements. Operating costs The Group’s operating expenses in 3Q25 amount to NOK 503 million, which is NOK 29 million higher than in 3Q24 (NOK 474 million), and NOK 28 million lower than the previous quarter (NOK 531 million). Operating expenses in the Parent Bank for the quarter total NOK 348 million (NOK 322 million), while operating expenses in the subsidiaries amount to NOK 155 million (NOK 152 million). Operating expenses as of 30.09.25 are NOK 1 526 million (NOK 1 407 million). The cost increase over the past 12 months amounts to 6.1 per cent for the Group. For the Parent Bank, the cost increase is 8.1 per cent, mainly explained by general inflation, wage growth, and new initiatives. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 17
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The number of full-time equivalents in the Group was 981 at the end of 3Q25, an increase of 8 compared with 2Q25. Compared with the same period last year, there is an increase of 3. In the Parent Bank, the number of full-time equivalents increased by 2 from 2Q25. SpareBank 1 Regnskapshuset increased by 6, while SpareBank 1 Finans Nord-Norge and EiendomsMegler 1 Nord- Norge have the same number as at the end of 2Q25. The change in full-time equivalents from the same quarter last year comes from the Parent Bank with an increase of 13, while SpareBank 1 Regnskapshuset and EiendomsMegler 1 Nord-Norge reduced by 7 and 3 respectively. The increase in the Parent Bank last year occurred during the second half of 2024 and was due to new business initiatives (CM, Private Banking, etc.) as well as regulatory requirements (AML, etc.). The Group’s long-term goal of a cost ratio of 40 per cent or lower remains firm in 2025. The Group maintains a strong focus on the cost base and works continuously on operational discipline throughout the organisation. The Group initiated a simplification and cost project in 3Q24. The project is well anchored in the organisation as of 3Q25, and the Group is already seeing effects on costs. However, the main effects will come gradually from 2026. For more information about the project, please refer to the mentioned quarterly report and the 2024 annual report. The cost ratio as of 3Q25 is 31.5 per cent (31.4 per cent excluding the Eika transaction), well within the target of 40 per cent. In note 6 of the quarterly financial statements, costs are specified by main categories and compared with previous periods. Losses and non-performing loans The Group’s net loan losses in 3Q25 amount to NOK -4 million (NOK +35 million), distributed as NOK -3 million (NOK +5 million) from the Retail Market and NOK -1 million (NOK +30 million) from the Corporate Market. Net losses in 3Q25 consist of NOK +5 million (NOK 47 million) in increased confirmed losses/change in individual loss provisions, NOK -12 million (NOK -9 million) in reduced model-based ECL provisions, and NOK +3 million (NOK -2 million) in recoveries on previously written-off receivables. Scenario weighting in the ECL model was changed in 3Q25 from 75%/20%/5% to 80%/15%/5%. The Group sees no negative development in the portfolio, but loss marking and defaults on some larger individual exposures have resulted in an increase in Stage 3 exposures since 2024 (see note 10 and the table on exposures by stage in the risk assessment). This has had little effect on loss provisions, and there are still relatively few bankruptcies in the loan portfolio. The Group continues to have a solid and diversified customer portfolio with low to moderate risk, but vulnerable sectors 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 18
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such as commercial real estate, construction, retail trade, and some fisheries exposures are areas the bank monitors closely. Total loss provisions on loans as of 3Q25 amount to NOK 809 million (NOK 877 million), which is NOK 16 million lower than at the end of the previous quarter (NOK 825 million). Loss provisions on loans represent 0.73 per cent of the Group’s total gross loans and 0.51 per cent of gross loans including loans transferred to SB1 Boligkreditt and SB1 Næringskr editt. The corresponding ratios as of 3Q24 were 0.83 per cent and 0.58 per cent. The Group’s total loss provisions on Stage 1 and 2 for loans and guarantees as of 3Q25 amount to NOK 445 million (NOK 468 million), NOK 22 million lower compared with the end of the previous quarter (NOK 466 million). Loss provisions on Stage 3 for loans and guarantees are NOK 364 million as of 3Q25 (NOK 409 million) compared with NOK 359 million as of 2Q25. This corresponds to a provisioning ratio of 19 per cent (26 per cent) of defaulted and loss-exposed commitments, approximately the same as at the end of the previous quarter (20 per cent). Please refer to notes 2, 8 and 11 in the quarterly financial statements, where the Group’s assessments of factors affecting loss provisions in 3Q25 are described. The quality of the Group’s loan portfolio is, in the Board’s opinion, good, and there is solid work being done on defaults and loss-exposed commitments. There will continue to be strong focus on this work going forward. Balance sheet development As of 3Q25, loans totalling NOK 50 billion (NOK 46 billion) have been transferred to SpareBank 1 Boligkreditt, and NOK 0.1 billion (NOK 0.1 billion) has been transferred to SpareBank 1 Næringskr editt. These loans do not appear as loans in the bank’s balance sheet. However, comments regarding loan growth still include the loans sold to the credit institutions. The Group assumes an expectation of 7–10 per cent loan growth in the Retail Market and 2–5 per cent loan growth in the Corporate Market for 2025. The Group is well capitalised. Underlying market growth in both RM and CM is weaker than in recent years due to the high policy rate. The policy rate is now on its way down, credit growth is expected to pick up, and the region is well positioned compared with the rest of the country. The Group aims to gain market share also in 2025. Total growth in loans to customers isolated in 3Q25 is 2.3 per cent (1.8 per cent). Annualised growth is therefore 9.2 per cent (7.3 per cent). Actual growth over the past 12 months is 6.3 per cent (5.5 per cent). The share of loans to the Retail Market accounts for 66 per cent of total loans as of 3Q25 (65 per cent). 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 19
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The Group’s loans are specified in note 10 of the quarterly financial statements. Liquidity Deposits from customers are the Group’s most important source of funding, and an overview of the bank’s deposits is presented in note 16 of the quarterly financial statements. Deposit coverage as of 3Q25 is 85 per cent, compared with 83 per cent as of 3Q24. In addition to own funds and customer deposits, long-term borrowing from the capital markets mainly represents the bank’s other funding. The bank’s access to liquidity and liquidity key figures are satisfactory. The bank aims to maintain liquidity risk at a low level. The LCR (Liquidity Coverage Ratio) as of 3Q25 is 146 per cent (the same as in the same period last year). The NSFR (Net Stable Funding Ratio) as of 3Q25 is 118 per cent (119 per cent). The senior preferred rating from Moody’s as of 3Q25 is Aa3, and the senior non-preferred rating is A3. Please also refer to note 22 of the quarterly financial statements regarding liquidity risk. Financial strength and capital adequacy The updated capital requirements regulation, CRR3, came into effect in the EU on 01.01.25 and in Norway on 01.04.25, and is therefore reflected in the accounts for the third quarter of 2025. Furthermore, the risk weight floor on residential mortgages increased from 20 per cent to 25 per cent as of 01.07.25. The Group applies proportional consolidation of its ownership interests in SpareBank 1 Boligkreditt, SpareBank 1 Næringskr editt, Kredittbanken (SB1 Kreditt), SpareBank 1 Markets and BN Bank in capital adequacy reporting. For a more detailed description of this area, please refer to the Group’s annual report. The calculation in the table below includes the share of the year-to-date result. 30.09.2530.09.25 30.09.24 Change Common Equity Tier 1 Capital Ratio 16,216,2 %% 15,7 % 0,6 % Tier 1 Capital Ratio 18,18,11 %% 17,4 % 0,7 % Capital Adequacy Ratio 20,620,6 %% 19,9 % 0,7 % Leverage Ratio 77,,44 %% 7,2 % 0,2 % For the period’s result to be included in capital adequacy reporting, there is a regulatory requirement that the quarterly financial statements must be audited. For 3Q25, the quarterly financial statements have been audited, and 37.1 per cent of the period’s result is therefore included in the 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 20
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calculated capital adequacy. If 50 per cent of the period’s result (in line with the current dividend policy) had been included, the Group’s Common Equity Tier 1 (CET1) ratio would have been 16.7 per cent. The Group’s CET1 capital at the end of 3Q25 is NOK 14 680 million, which is NOK 1 680 million higher than at the end of 3Q24 (NOK 13 000 million), and NOK 858 million higher than at the end of 2Q25 (NOK 13 822 million). A CET1 ratio of 16.2 per cent is 0.4 percentage points above the Group’s capital target (15.8 per cent), and 1.4 percentage points above the regulatory minimum level (14.8 per cent). Total risk-weighted assets (RWA) as of 3Q25 amount to NOK 90 518 million, an increase of NOK 7 548 million from 3Q24 (NOK 82 970 million), and up NOK 5 116 million from 2Q25 (NOK 85 402 million). The increase in the quarter is primarily due to the implementation of a new risk-weight floor on residential mortgages. The calculation of capital adequacy is presented in note 21 of the quarterly financial statements. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 21
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Concluding remarks and outlook Norges Bank carried out yet another surprising rate cut in September 2025, after most macroeconomic indicators suggested that they would not cut. There are expectations of further rate declines, but not until after the summer of 2026. For the bank’s deposit margin, postponed rate cuts are, in isolation, positive, but competition in the market for both lending and deposits is tough. The Group expects a somewhat weaker interest margin in Q425 and into 2026. At the same time, the aim is to offset some of this in other product areas, and through contributions from the alliance and subsidiaries. In addition, the bank assumes increased income through continued high loan growth in RM, and somewhat higher loan growth in CM. Households in Northern Norway on average have a lower debt-to-income ratio than the rest of Norway, and the business sector in the region is strong with solid earnings. Some industries nevertheless face challenges, and as in the rest of the country the construction industry is in a special position, as more or less all residential construction has come to a halt. This is detrimental to development and growth in the region, and the Group has seen a number of bankruptcies in the industry, which have, however, had limited impact on SNN. A positive development in households’ purchasing power, a somewhat lower interest rate level, and a pent-up need for more housing give some hope of increased activity through 2026. This is also confirmed by data from the “investeringstelleren” at kbnn.no. Northern Norway still has lower unemployment than the Norwegian average, and key industries in the region benefit from a weak krone. Real wage growth will additionally contribute to increased purchasing power, power prices in the region are low, and the Armed Forces’ investments in the region in the coming years are expected to represent a significant economic driving force. Before the 2025 cod season there was great concern about lower cod quotas. The price increase for cod has more than compensated for the quota reduction, the exchange rate is favourable, and the industry has had many good years. Further quota reductions are now being signalled for 2026, which will pose challenges for the industry without the bank considering this critical. The aquaculture industry continues to perform well and, despite somewhat lower market prices for salmon, good profitability and investment appetite are expected in the second half of 2025 as well. Commercial real estate has been demanding for several years due to high interest rates. At the same time, rental prices have increased significantly based on inflation-indexed rents, without a significant increase in vacancy. As long as the underlying economy continues to perform well and vacancy levels remain low, the Group has positive expectations for the development of this industry. A somewhat lower interest rate level will, going forward, improve earnings, and increased activity in commercial real estate is expected into 2026. The tourism industry is performing very well, with a record-strong development so far this year. The winter season 2025/26 also looks very promising with high booking numbers, and several new direct flight routes to the region. 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 22
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There remains greater geopolitical uncertainty than in recent years. Despite this uncertainty, the Group expects that Northern Norway will fare better economically than the rest of the country in the coming years as well. Lower interest rates and real wage growth will have a positive effect. Large investments in infrastructure in the region in the coming years, both civil and military, will also contribute positively to the economy and growth. SpareBank 1 Nord-Norge is well positioned, very solid and liquid, with a good customer portfolio and a strong market position in a region with good prerequisites for continued favourable economic development. Through the Group’s strong position with unique knowledge of the people and businesses in the region, the Group has the best opportunities to succeed also in the period ahead. The future prospects for SpareBank 1 Nord-Norge are assessed as good. Tromsø, 28 October 2025 The BoarThe Board od of Sparf SpareBank 1 NoreBank 1 Nord-Nord-Norgege 3. K3. Kvarvartaltal | Report of the Board of Directors– 3. Quarter 2025 23
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Statement of Financial Performance ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 Note 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 1 921 11 901901 5 608 55 695695 Interest income 3 55 983983 5 873 11 996996 2 006 991 986986 2 889 22 974974 Interest costs 3 22 957957 2 872 980980 986 930 915915 2 719 22 721721 Net interest income 33 026026 3 001 11 016016 1 020 00 0 228 251251 643 704704 Fee- and commission income 4 885885 808 318318 290 13 2323 43 5757 Fee- and commission costs 4 7575 59 3030 18 7 11 9 44 Other operating income 4 270270 274 7676 80 222 229229 609 651651 Net fee- and other operating income 11 080080 1 023 364364 352 00 0 8 11 68 123123 Dividend 5 123123 68 11 8 2 3030 258 372372 Income from investments 5,13 420420 694 189189 583 99 4848 148 196196 Net gain from investments in securities 5 196196 148 4747 98 109 7979 474 691691 Net income from financial investments 739739 910 237237 689 0 00 0 00 00 0 00 0 1 261 11 223223 3 802 44 063063 Total income 44 845845 4 934 11 617617 2 061 00 0 168 171171 484 515515 Personnel costs 6 843843 792 284284 276 112 120120 353 397397 Administration costs 6 463463 396 142142 126 15 2121 45 5454 Ordinary depreciation 6,7 6666 64 2323 21 27 3636 91 9393 Other operating costs 6 154154 155 5454 51 322 348348 973 11 059059 Total costs 11 526526 1 407 503503 474 00 0 939 875875 2 829 33 004004 Result before losses 33 319319 3 527 11 114114 1 587 00 0 37 11 75 3232 Losses 8 2323 86 -- 44 35 902 874874 2 754 22 972972 Result before tax 33 296296 3 441 11 118118 1 552 00 0 195 194194 571 565565 Tax 631631 630 215215 208 707 680680 2 183 22 407407 Result after tax 22 665665 2 811 903903 1 344 Attributable to:Attributable to: Controlling interests 22 632632 2 782 893893 1 335 Non-controlling interests 3333 29 1010 9 RResult per Eesult per Equity Cerquity Certificatetificate 3,15 3,013,01 9,74 10,10,7373 RResult per Eesult per Equity Cerquity Certificate, adjusted ftificate, adjusted for interor interests hybrid capitalests hybrid capital 11,11,7777 12,51 3,993,99 6,04 3. K3. Kvarvartaltal | Statement of Financial Performance 24
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Other comprehensive income ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 707 680680 2 183 22 407407 Result after tax 22 665665 2 811 903903 1 344 Items that will not be rItems that will not be reclassified to preclassified to proofit/lossfit/loss 0 00 0 00 Share of other comphrehensive income from investment in assosiated companies 77 0 00 - 3 0 00 0 00 Total 77 0 00 - 3 Items that will be rItems that will be reclassified to preclassified to proofit/lossfit/loss 0 -- 11 9 11 Value changes on loans measured at fair value 11 9 -- 11 0 0 00 0 00 Share of other comphrehensive income from investment in assosiated companies 5252 -74 3636 - 29 0 00 -2 00 Tax 00 -2 00 0 0 --11 7 11 Total 5353 - 67 3535 - 29 707 679679 2 190 22 408408 Total comprehensive income for the period 22 725725 2 744 938938 1 312 3,15 3,013,01 9,78 10,10,7474 Total result per Equity Certificate, adjusted for interests hybrid capital 12,0512,05 12,20 4,4,1616 5,90 3. K3. Kvarvartaltal | Other comprehensive income 25
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Balance sheet ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 Notes 30.09.2530.09.25 31.12.24 AssetsAssets 1 404 785785 Cash and balances with central banks 785785 1 404 10 070 1010 714714 Loans to credit institutions 10 22 128128 2 394 92 450 9696 994994 Loans to customers 10,11,12 107107 343343 101 828 1 522 11 704704 Shares 12 11 709709 1 527 19 233 2121 715715 Certificates and bonds 12 2121 717717 19 235 1 532 11 332332 Financial derivatives 12,15 11 332332 1 532 6 436 66 942942 Investment in Group Companies, assosiated companies and joint ventures 13 66 737737 5 981 398 652652 Fixed assets 7 878878 811 533 510510 Other assets 12,14 958958 961 133 578 141141 348348 TTotal assetsotal assets 143143 587587 135 673 LiabilitiesLiabilities 763 11 453453 Depsits from credit institutions 1616 11 453453 761 87 727 9292 231231 Deposits from customers 16 9292 164164 87 618 13 756 1515 331331 Debt securities in issue 17 1515 331331 13 756 1 086 11 008008 Financial derivatives 12,15 11 008008 1 086 3 212 33 304304 Other liabilities 18 33 585585 3 678 9 435 99 992992 Senior non-preferred and subordinated debt 19 99 992992 9 435 115 979 123123 319319 TTotal liabilitiesotal liabilities 123123 533533 116 334 EEquityquity 2 650 22 650650 Equity Certificate capital and premium reserve 20 22 650650 2 650 1 450 11 450450 Hybrid capital 20 11 450450 1 450 4 837 55 038038 Dividend Equalisation Fund 20 55 845845 5 516 8 662 88 891891 Saving Bank's primary capital 20 99 825825 9 446 Non-controlling interests 20 284284 277 17 599 1818 029029 TTotal equityotal equity 2020 054054 19 339 133 578 141141 348348 TTotal liabilities and equityotal liabilities and equity 143143 587587 135 673 3. K3. Kvarvartaltal | Balance sheet 26
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Statement of Changes in Equity (Amounts in NOK million) EC capital and Premium Fund Dividend Equalisation Fund Saving Bank's primary capital Hybrid capital Total controlling interests Non- controlling interests Total equity GrGroupoup EEquity at 01.01.24quity at 01.01.24 22 650650 44 628628 88 417417 11 250250 1616 945945 245245 1717 190190 TTotal comprotal comprehensivehensive income fe income for the periodor the period Period result 1 290 1 492 2 782 29 2 811 Other comprehensive income: Value changes on loans measured at fair value 4 5 9 9 Share of other comprehensive income from investment in assosiated companies - 34 - 40 - 74 - 74 Tax on other comprehensive income - 1 - 1 - 2 - 2 TTotal other comprotal other comprehensivehensive incomee income - 31 - 36 - 67 - 67 TTotal comprotal comprehensivehensive income fe income for the periodor the period 1 259 1 456 2 715 29 2 744 TTransactions with oransactions with ownerwnerss Equity issue 11 11 Other transactions 2 4 6 - 2 4 Interests hybrid capital - this year - 34 - 39 - 73 - 73 Approved society dividend - 813 - 813 - 813 Total transactions with owners - 735 - 848 -1 583 - 18 -1 601 EEquity at 30.09.24quity at 30.09.24 22 650650 55 152152 99 025025 11 250250 1818 077077 256256 1818 333333 Equity at 01.01.25 2 650 5 516 9 446 1 450 19 062 277 19 339 TTotal comprotal comprehensivehensive income fe income for the periodor the period Period result 1 220 1 412 2 632 33 2 665 Other comprehensive income: Value changes on loans measured at fair value 1 1 1 Share of other comprehensive income from investment in assosiated companies 27 32 59 59 Tax on other comprehensive income Total other comprehensive income 28 32 60 60 Total comprehensive income for the period 1 249 1 443 2 692 33 2 725 TTransactions with oransactions with ownerwnerss Equity issue 7 7 Dividend paid - 878 - 878 - 32 - 910 Other transactions - 3 - 4 - 7 - 1 - 8 Interests hybrid capital - this year - 38 - 45 - 83 - 83 Approved society dividend -1 016 -1 016 -1 016 Total transactions with owners - 919 -1 065 -1 984 - 26 -2 010 EEquity at 30.09.25quity at 30.09.25 22 650650 55 845845 99 825825 11 450450 1919 770770 284284 2020 054054 3. K3. Kvarvartaltal | Statement of Changes in Equity 27
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Statement of Cash Flows ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 2 754 22 972972 Profit before tax 33 296296 3 441 45 5454 + Ordinary depreciation 7 6666 64 75 3232 + Losses on loans and guarantees 8 2323 86 571 565565 - Tax/Result non-current assetes held for sale 631631 630 2 303 22 493493 PrProovided frvided from the yom the year's operationsear's operations 22 754754 2 961 341 -- 122122 Change in sundry liabilities: + increase/ - decrease 18 -- 309309 66 112 223223 Change in various claims: - increase/ + decrease 14 203203 - 8 -4 884 -5-5 350350 Change in gross lending to and claims on customers: - increase/ + decrease 10,11,12 -5-5 402402 -4 549 -1 698 --22 664664 Change in short term-securities: - increase/ + decrease 12 --22 664664 -1 698 3 577 44 504504 Change in deposits from and debt owed to customers: + increase/ - decrease 16 44 546546 3 549 288 690690 Change in liabilities to credit institusions: + increase/ - decrease 16 692692 288 39 -- 226226 A. Net liquidity change frA. Net liquidity change from operationsom operations -- 180180 609 -47 -308-308 - Investment in fixed assets 7 --133133 -64 - 333 -- 548548 Payments to group companies and assosiated companies 13 -- 505505 - 282 0 4040 Payments from/Change in values of group companies and assosiated companies 13 -- 200200 - 587 - 380 -- 816816 B. Liquidity change frB. Liquidity change from invom investmentsestments -- 838838 - 933 - 73 -- 8383 Interest to hybrid capital owners -- 8383 - 73 - 35 -- 5050 Payments to leases 7 -- 4949 - 42 -1 523 --11 767767 - Dividend paid on EC/approved distributions --11 799799 -1 550 -2 576 --11 351351 Payments to borrowings through the issuance of securities 17 --11 351351 -2 576 3 708 22 964964 Payments from borrowings through the issuance of securities 17 22 964964 3 708 - 311 --11 889889 Payments to subordinated loan capital 19 --11 889889 - 311 1 249 22 468468 Payments from subordinated loan capital 19 22 468468 1 249 0 00 Payments to/payments from hybrid capital 20 00 0 Payment from non-controlling interests 77 11 439 292292 C. Liquidity change frC. Liquidity change from financingom financing 268268 416 98 -- 750750 A + B + C. Total change in liquidity -- 750750 92 1 229 22 001001 + Liquid funds at the start of the period 22 001001 1 251 1 327 11 251251 = Liquid funds at the end o= Liquid funds at the end of the periodf the period 11 251251 1 343 764 785785 Cash and balances with Central Banks 785785 764 563 466466 Loans and advances to credit institutions without an agreed term or notice period 466466 579 1 327 11 251251 Liquid funds at the end oLiquid funds at the end of the periodf the period 11 251251 1 343 Liquid funds are defined as cash and balances with Central Banks, and loans and advances to credit institutions without an agreed term or notice period. Additional infAdditional information cash floormation cash floww 5 614 55 702702 Interests received 55 990990 5 879 1 986 22 064064 Interests paid 22 047047 1 969 3. K3. Kvarvartaltal | Statement of Cash Flows 28
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Result from the Group's quarterly accounts (Amounts in NOK million) 3Q253Q25 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 Interest income 11 996996 2 011 1 976 2 014 2 006 1 941 1 926 1 888 1 757 Interest costs 980980 1 008 969 987 986 946 940 891 802 Net interNet interest incomeest income 11 016016 1 003 1 007 1 027 1 020 995 986 997 955 Fee- and commission income 318318 299 268 278 290 278 240 229 234 Fee- and commission costs 3030 25 20 22 18 21 20 24 19 Other operating income 7676 96 98 262 80 94 100 312 69 Net fNet fee- and other operating incomeee- and other operating income 364364 370 346 518 352 351 320 517 284 Dividend 11 46 76 13 8 59 1 3 2 Income from investments 189189 138 93 132 583 45 66 - 28 - 69 Net gain from investments in securities 4747 114 35 1 98 - 2 52 108 24 Net income frNet income from financial invom financial investmentsestments 237237 298 204 146 689 102 119 83 - 43 TTotal incomeotal income 11 617617 1 671 1 557 1 691 2 061 1 448 1 425 1 597 1 196 Personnel costs 284284 272 287 311 276 252 264 317 241 Administration costs 142142 185 136 169 126 137 133 152 128 Ordinary depreciation 2323 22 21 20 21 20 23 22 22 Other operating costs 5454 52 48 96 51 51 53 87 49 TTotal costsotal costs 503503 531 492 596 474 460 473 578 440 RResult befesult beforore lossese losses 11 114114 1 140 1 065 1 095 1 587 988 952 1 019 756 Losses -- 44 - 30 57 24 35 15 36 91 52 RResult befesult beforore taxe tax 11 118118 1 170 1 008 1 071 1 552 973 916 928 704 Tax 215215 219 197 219 208 220 202 172 192 RResult after taxesult after tax 903903 951 811 852 1 344 753 714 756 512 Interest hybrid capital 2828 28 27 27 26 23 24 21 15 RResult after tax eesult after tax ex. interx. interest hybrid capitalest hybrid capital 875875 923 784 825 1 318 730 690 735 497 PrProofitabilityfitability Return on equity capital 1 19,319,3 %% 20,3 % 17,2 % 18,9 % 32,1 % 18,9 % 17,8 % 18,8 % 13,2 % Interest margin 2,832,83 %% 2,83 % 2,93 % 3,03 % 3,04 % 3,01 % 3,04 % 2,85 % 2,76 % Cost/income 2 31,31,11 %% 31,8 % 31,6 % 35,2 % 23,0 % 31,8 % 33,2 % 36,2 % 36,8 % Balance sheet figurBalance sheet figureses Loans and advances excl. commision loans 110110 235235 109 239 105 048 105 385 103 499 101 250 101 093 99 809 99 809 -of which loans and advances to financial institutitons 22 128128 2 435 2 394 2 259 2 753 2 085 2 304 2 121 2 121 -of which loans and and advances to customers 108108 106106 106 804 102 654 103 126 100 746 99 165 98 789 97 688 97 688 Loans incl. loans to SB1 BK and SB1 NK 158158 165165 154 605 150 571 148 755 146 073 144 703 143 438 140 965 140 965 Growth in loans and advances to cust. incl. loans in SB1 BK & NK past 12 months 6,36,3 %% 5,8 % 5,0 % 5,0 % 5,5 % 5,6 % 7,1 % 7,7 % 7,5 % Deposits 9393 617617 96 503 89 548 88 379 87 496 89 660 86 233 83 659 85 736 -of which deposits from financial institutions 11 453453 1 847 432 761 1 452 1 245 1 890 1 164 1 589 -of which deposits from customers 9292 164164 94 656 89 116 87 618 86 044 88 415 84 343 82 495 84 147 Growth in deposits from customers past 12 months 77,,11 %% 7,1 % 5,7 % 6,2 % 2,3 % 4,2 % 3,3 % 3,8 % 5,0 % Deposits as a percentage of gross lending 3 85,385,3 %% 88,6 % 85,6 % 85,4 % 83,4 % 87,8 % 85,1 % 83,5 % 86,1 % Deposits as a percentage of gross lending including loans in SB1 BK & NK 4 58,358,3 %% 61,2 % 58,6 % 58,2 % 57,8 % 60,5 % 58,3 % 57,5 % 59,7 % Average assets 5 140140 604604 139 610 137 352 132 721 131 984 130 909 129 850 127 155 126 909 Total assets 143143 587587 144 127 139 030 135 673 135 207 133 027 131 562 128 138 128 728 3. K3. Kvarvartaltal | Result from the Group's quarterly accounts 29
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(Amounts in NOK million) 3Q253Q25 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 LLosses on loans and commitments in defosses on loans and commitments in defaultault Losses on loans to customers as a percentage of total lending incl. loans in SB1 BK & NK 0,010,01 %% 0,02 % 0,04 % 0,07 % 0,06 % 0,03 % 0,02 % 0,08 % 0,02 % Net comm. in default and at risk of loss as a per. of total lending incl. loans in SB1 BK & NK 0,960,96 %% 0,94 % 0,87 % 0,91 % 0,75 % 0,68 % 0,55 % 0,40 % 0,44 % SoliditySolidity Common Equity Tier 1 Capital 1818 255255 13 822 14 019 14 054 16 785 13 257 13 283 13 466 13 335 Tier 1 Capital 1616 322322 15 499 15 693 15 728 14 405 14 663 14 689 14 847 14 328 Own Funds 1818 624624 17 604 17 793 17 829 16 525 16 763 16 716 16 824 15 870 Risk exposure amount 9090 518518 85 402 86 039 83 678 82 970 80 888 80 148 78 527 75 942 Common Equity Tier 1 Capital 16,216,2 %% 16,2 % 16,3 % 16,8 % 15,7 % 16,4 % 16,6 % 17,1 % 17,6 % Tier 1 Capital Ratio 18,018,0 %% 18,1 % 18,2 % 18,8 % 17,4 % 18,1 % 18,3 % 18,9 % 18,9 % Total Capital Ratio 20,620,6 %% 20,6 % 20,7 % 21,3 % 19,9 % 20,7 % 20,9 % 21,4 % 20,9 % 1) The profit after tax in relation to average equity, calculated as a quarterly average of equity at 1 January and end quarterly equity. The Bank's hybrid tier 1 capital issued are classified as equity in the financial statements. However, when calculating the return on equity, hybrid tier 1 capital is treated as a liability and the associated interest costs are adjusted for in the result. 2) Total costs as a percentage of total net income 3) Deposits from customers as a percentage of gross lending 4) Deposits from customers in percentage of total lendring incl. loans in SB1 BK & NK 5) Average assets are calculated as average assets each quarter and at 01.01. and 31.12. 3. K3. Kvarvartaltal | Result from the Group's quarterly accounts 30
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Notes Note 1 Accounting policies SpareBank 1 Nord-Norge prepares its quarterly financial statements in accordance with the Accounting Act § 3-9, the Securities T rading Act (§5-6), r egulations to the Accounting Act, including the Regulation on Annual Accounts for Banks, Credit Institutions, and Financing Institutions (Chapter 8), and international financial reporting standards (IFRS accounting standards) approved by the EU and Norwegian authorities, including IAS 34 - Interim Financial Reporting. Quarterly financial statements are not as comprehensive as annual financial statements and should be read in conjunction with the annual financial statements for 2024, where principles, classifications, valuation methods, models, and other aspects of the accounting items are described and explained. The group has applied the same accounting principles and calculation methods in this quarterly reporting as in the last annual financial statements, except for IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments – Disclosures, which have been amended with effect from 2025. Note 2 Important accounting estimates and discretionary judgements LLosses on loansosses on loans SpareBank 1 Nord-Norge uses a model to calculate Expected Credit Loss (ECL) in accordance with IFRS 9. A detailed description of the ECL model is provided in Note 13 of the annual financial statements. The results of the ECL calculation are presented in Notes 8 and 11 of the quarterly financial statements. The model’s base data for the quarter has been updated in line with the latest Monetary Policy Report from Norges Bank. The macro situation is assessed to have improved somewhat compared to the previous quarter. Consequently, the weighting of macroeconomic scenarios has been adjusted from 75/20/5 per cent to 80/15/5 per cent in the third quarter. Some adjustments have also been made to customers on the watchlist this quarter. 3. K3. Kvarvartaltal | Notes 31
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Sensitivity AnalySensitivity Analysissis The table below shows the calculated ECL for the three applied scenarios in isolation. The calculations are distributed across the main segments of retail customers and corporate customers, which together sum up to the parent bank. In addition to segment-distributed ECL under the applied scenario weighting (80/15/5 per cent), the table presents two alternative scenario weightings, with adjustments to the probability of the expected scenario (75/20/5 per cent and 80/ 10/10 per cent). 30.09.2530.09.25 (Amount in NOK million) RM CM Parent bank SC1 ECL in Base cenario 60 642 344 579 405 221 SC2 ECL in Downturn scenario 122 060 882 569 1 004 629 SC3 ECL in Upturn scenario 41 960 198 144 240 104 ECL with used scenarioweightning 80/15/5% 68 907 417 955 486 862 Sensitivity:Sensitivity: ECL with alternative scenario weightning 75/20/5% 71 974 444 855 516 829 ECL with alternativw scenario weightning 80/10/10% 64 907 383 734 448 641 Note 3 Net interest income ParParent Bankent Bank GrGroupoup (Amount in NOK million) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 InterInterest incomeest income 117 120120 320 360360 Interest income from loans to other credit institutions (amortized cost) 4343 30 1010 13 935 933933 2 709 22 773773 Interest income from loans to customers (amortized cost) 33 379379 3 264 11 138138 1 124 32 4040 120 123123 Interest income from loans to customers (fair value profit and loss) 123123 120 4040 32 572 547547 1 663 11 651651 Interest income from loans to customers (fair value other comprehensive income) 11 651651 1 663 547547 572 265 261261 796 787787 Interest income from certificates and bonds (fair value profit and loss) 787787 796 261261 265 1 921 11 901901 5 608 55 694694 TTotal interotal interest incomeest income 55 983983 5 873 11 996996 2 006 InterInterest costest cost 52 7373 135 212212 Interest cost on debt to other credit institutions (amortized cost) 195195 121 6868 49 643 669669 1 868 11 993993 Interest cost on debt to customers (amortized cost) 11 994994 1 865 668668 641 184 141141 569 439439 Interest cost on the issued securities (amortizes cost) 439439 603 141141 196 98 8989 276 287287 Interest cost on subordinated capital and debt (amortized cost) 287287 242 8989 86 977 972972 2 848 22 931931 TTotal interotal interest costest cost 22 915915 2 831 966966 972 14 1414 41 4242 Guarantee fund fee 4242 41 1414 14 930 915915 2 719 22 721721 Net interNet interest incomeest income 33 026026 3 001 11 016016 930 2,81 % 2,582,58 %% 2,78 % 2,622,62 %% Interest margin in relation to average total assets 2,872,87 %% 3,03 % 2,832,83 %% 3,04 % 3. K3. Kvarvartaltal | Notes 32
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Note 4 Net fee-, commission- and other operating income ParParent bankent bank GrGroupoup (Amounts in mill NOK) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 45 6060 137 177177 Provision from SB1 BK & NK 177177 138 6060 47 83 8888 217 227227 Payment facilities 227227 217 8888 83 51 6262 149 177177 Sales provision insurance products 177177 149 6262 51 13 1111 36 3434 Guarantee commissions 3434 36 1111 12 Real estate broking 188188 167 7070 62 14 1515 41 4242 Portfolio commissions 4242 40 1515 13 18 1111 52 3737 Credit commision 3737 52 1111 17 4 44 11 1111 Other commisions 33 9 11 5 228 251251 643 704704 Total commission income 885885 808 318318 290 13 2323 43 5757 Commission costs 7575 59 3030 18 215 228228 600 647647 Net fee- and commission income 810810 749 288288 272 Accounting services 267267 260 7575 72 7 11 9 33 Other operating income 33 14 11 8 222 229229 609 651651 Net fee- and other operating income 11 080080 1 023 364364 352 19 % 2020 %% 18 % 1919 %% Percent of net core earnings 2626 %% 25 % 2626 %% 26 % Note 5 Net income from financial investments ParParent bankent bank GrGroupoup (Amounts in mill NOK) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 VValued at falued at fair value thrair value through prough proofit and lossfit and loss Income frIncome from equity capital instrumentsom equity capital instruments 8 11 68 123123 Dividend from shares 123123 68 11 8 2 3030 258 372372 Dividend from group companies, assosiated companies and joint ventures 3 33 9 99 Dividend from hybrid capital 33 3 11 1 Share result from assosiated companies and joint ventures (Equity-method) 420420 694 189189 583 89 4242 89 173173 Value changes and net gains from shares 179179 95 4444 91 Value changes and net gains from group companies, assosiated companies and joint ventures 00 0 00 0 Income frIncome from cerom certificates and bondstificates and bonds 4 55 47 2121 Value changes and net gains from certificates and bonds 2121 47 55 3 Income frIncome from financial derivativom financial derivativeses 3 -- 22 2 -- 1313 Value changes and net gains from currencies and hedge derivatives -- 1313 2 -- 33 3 0 00 1 66 Value changes and net gains from fixed rate loans to customers 66 1 00 0 109 7979 474 691691 Net income from fair value financial investments 739739 910 237237 689 3. K3. Kvarvartaltal | Notes 33
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Note 6 Expenses ParParent bankent bank GrGroupoup (Amounts in mill NOK) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 123 125125 350 373373 Personel expenses 641641 605 216216 212 14 1515 37 4040 Pension costs 6666 58 2525 23 31 3131 97 102102 Social costs 136136 129 4343 41 168 171171 484 515515 TTotal perotal personnel costssonnel costs 843843 792 284284 276 82 7676 251 288288 IT expenses 316316 268 9191 88 30 4444 102 109109 Other administrative expenses 147147 128 5151 38 15 2121 45 5454 Ordinary depreciation 6666 64 2323 21 4 66 14 1717 Operating costs properties 2424 16 88 5 23 3030 77 7676 Other operating expenses 130130 139 4646 46 322 348348 973 11 059059 TTotal costsotal costs 11 526526 1 407 503503 474 3. K3. Kvarvartaltal | Notes 34
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Note 7 Leases On a lease’s start date, the Group recognises a liability to pay rent and an asset that represents the right to use the underlying asset during the term of the lease (‘right-of-use asset’). The Group sets the lease liabilities and ‘right-of-use assets’ at the present value of the remaining rent payments, discounted with the aid of the Group’s marginal loan rate. Interest costs on the lease liability are recognised as costs on an ongoing basis and the right-of-use asset is depreciated on a straight-line basis over the term of the lease. The Group’s leased assets mainly include branches and naturally associated premises. Many of the contracts include the right to an extension that can be exercised during the term of the contract. The Group assesses, upon entering into a contract and thereafter continually, whether the right to the extension will, with reasonable certainty, be exercised. The terms of leases have varying durations and option structures. As a general rule, the companies within the Group are co-located in financial centers. Previously, the parent bank treated the re-invoicing of rent as a financial transaction, splitting the lease liability between the companies involved in the lease agreement. Following a review of the Group’s lease contracts during 2Q25, the re-invoicing in accordance with IFRS 16 has been changed and is now recorded operationally. Consequently, 2Q25 (and the periods after) reflects an adjustment in the parent bank’s lease liability and corresponding right-of-use asset, indicating that the entire liability and right-of-use asset have been recognized in the parent bank. This effect is eliminated at the Group level, and therefore has no impact on the consolidated financial statements. 3. K3. Kvarvartaltal | Notes 35
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ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 Right to use assetRight to use asset 303 296296 Carrying amount 01.01. 369369 374 12 6060 Additions 6060 59 -3 -3-3 -Derecognition -3-3 -3 19 226226 Other changes 99 -22 331 578578 CarrCarrying amountat the end oying amountat the end of the periodf the period 435435 408 35 3535 Depreciation in the period 3131 39 296 543543 CarrCarrying amount oying amount of right to use asset at the end of right to use asset at the end of the periodf the period 404404 369 LLease liabilityease liability 313 308308 Carrying amount 01.01. 384384 388 12 5555 Additions 5555 59 -40 --4242 Lease payments in the period --4040 -46 7 88 Interest 99 10 16 226226 Other changes 99 -27 308 555555 LLease liability at the end oease liability at the end of the periodf the period 416416 384 PrProofit and lossfit and loss 35 3535 Depreciation 3131 39 7 88 Interest 99 10 42 4343 TTotal lease eotal lease expencexpence 3939 49 Undiscounted lease liabilities and maturity oUndiscounted lease liabilities and maturity of cash outflof cash outflowwss 39 6464 Less than 1 year (this year) 5050 45 33 6464 1-2 years 4949 44 32 6161 2-3 years 4646 43 31 5858 3-4 years 4242 40 30 5656 4-5 years 3939 35 186 347347 More than 5 years 277277 246 351 650650 TTotalotal 503503 453 3. K3. Kvarvartaltal | Notes 36
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Note 8 Losses ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 3Q24 3Q253Q25 30.09.24 30.09.2530.09.25 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 LLosses incorporated in the accountsosses incorporated in the accounts 42 66 102 1515 Period's change in individual lending provisions -- 77 117 55 43 - 5 -- 77 - 36 -- 33 Period's change in modelbased lending provisions -- 1818 - 44 -- 1111 - 9 2 33 12 2323 Period's confirmed losses 5353 18 55 4 - 1 -- 11 - 4 -- 33 Recoveries, previously confirmed losses -- 55 - 6 -- 22 - 2 37 11 75 3232 TTotal lossesotal losses 2323 86 -- 44 35 LLosses brosses brokoken doen down bwn by sector and industry sector and industryy 50 00 41 00 Agriculture, forestry and fishin 00 39 -- 11 48 0 00 0 00 Mining and quarrying 00 0 00 0 0 -- 66 - 6 -- 99 Manufacturing -- 1212 - 9 -- 99 - 2 - 4 00 - 5 -- 11 Electricity, gas, steam and air conditioning supply -- 11 - 5 00 - 4 0 00 0 00 Water supply, sewerage, waste managment and remediation activities 11 - 1 00 0 - 5 33 38 99 Construction 55 42 77 - 6 - 1 -- 22 - 1 22 Wholesale and retail trade, repair of motor vehicles and motorcycles 22 2 -- 22 - 2 - 3 00 - 4 44 Transporting and storage 55 0 -- 11 1 1 00 1 00 Accommodation and food service activities 00 1 00 1 0 00 0 00 Publishing, broadcasting, content production and distribution 00 0 00 0 0 -- 22 0 -- 22 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services -- 22 0 -- 22 0 2 -- 55 - 9 -- 44 Financial services -- 44 - 10 -- 55 2 - 11 1818 16 3232 Real estate activities 3333 16 1111 - 11 7 -- 33 - 1 -- 11 Professional, scientific and technical activities -- 11 - 1 -- 33 7 - 2 -- 33 - 4 -- 44 Administrative and support service activities 33 - 4 -- 33 - 7 0 00 0 00 Public administration and defence; compulsory social security 00 0 00 0 2 00 2 00 Education 00 2 00 2 0 00 0 -- 11 Human health and social work activities -- 11 0 00 0 2 11 1 -- 11 Arts, entertainment and recreation -- 11 1 11 1 0 66 - 1 66 Other services activities 55 - 1 77 0 0 - 1 0 - 2 Employment in private households and other goods and service production for own use in private households -- 22 0 00 0 37 66 67 3030 Total corporate market 3131 71 00 30 0 -- 55 8 22 Total retail market -- 88 15 -- 44 5 37 11 75 3232 TTotal lossesotal losses 2323 86 -- 44 35 Isolatet loss effIsolatet loss effects comparects compared to last quared to last quarterter 3Q253Q25 (Amounts in NOK million) PM BM SumSum SumSum PM BM 2 38 4040 Change ECL due to period growth and migration 4141 4 37 0 - 17 -- 1717 Change ECL due to adjusted key assumptions -- 1616 0 - 16 - 3 - 27 -- 3030 Change ECL due to changed scenario weighting -- 3737 - 5 - 32 - 1 - 5 -- 77 Change in model-based loss prChange in model-based loss proovisions (stage 1 and 2)visions (stage 1 and 2) -- 1111 0 - 11 - 4 10 66 Change individual loss provisions (stage 3) 55 - 4 9 0 2 22 Change write-offs 33 0 2 - 5 6 11 TTotal loss effotal loss effectsects -- 44 - 4 0 3. K3. Kvarvartaltal | Notes 37
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Note 9 Business Areas The table shows SpareBank 1 Nord-Norge's segment's pursuant to IFRS 8. For more information see note 4 in annual report 2024. GrGroupoup 30.09.2530.09.25 (Amounts in NOK million) Retail market Corporate banking SpareBank 1 Regnskaps-huset Nord-Norge Eiendoms- Megler 1 Nord- Norge SpareBank 1 Finans Nord- Norge Eliminations Unspecified Total Net interest income 1 275 1 140 - 1 3 302 0 307 3 026 Net fee- and other operating income 586 148 260 187 - 22 0 - 79 1 080 Net income from financial investments 1 13 0 0 0 0 725 739 Total costs 516 333 239 150 63 0 225 1 526 Result before losses 1 346 968 20 40 217 0 728 3 319 0 Losses 2 30 0 0 - 9 0 0 23 Result before tax 1 342 939 20 40 227 0 728 3 296 0 Total lending 49 465 56 622 0 0 10 438 8 587 -14 877 110 235 Loss provision - 89 - 583 0 0 - 88 0 0 - 760 Other assets 0 0 405 134 0 0 33 573 34 112 Total assets per business area 49 376 56 039 405 134 10 350 8 587 18 696 143 587 0 Deposits 50 607 40 932 0 5 0 - 66 686 92 164 Other liabilities and equity capital -1 231 15 107 405 130 10 350 -8 521 35 183 51 423 Total equity and liabilities per business area 49 376 56 039 405 135 10 350 -8 587 35 870 143 587 GrGroupoup 30.09.2430.09.24 (Amounts in NOK million) Retail market Corporate banking SpareBank 1 Regnskaps-huset Nord-Norge Eiendoms- Megler 1 Nord- Norge SpareBank 1 Finans Nord- Norge Eliminations Unspecified Total Net interest income 1 326 1 094 0 - 1 279 0 303 3 001 Net fee- and other operating income 486 140 260 168 - 17 0 - 14 1 023 Net income from financial investments 1 18 0 0 1 0 890 910 Total costs 409 262 236 140 55 0 305 1 407 Result before losses 1 404 990 24 27 208 0 874 3 527 Losses 8 67 0 0 11 0 1 86 Result before tax 1 393 927 24 27 197 0 873 3 441 Total lending 46 187 55 013 0 0 9 317 -7 633 2 501 105 385 Loss provision - 79 - 629 0 0 - 138 0 - 1 - 847 Other assets 0 0 407 148 0 0 30 114 30 669 Total assets per business area 46 108 54 384 407 148 9 179 -7 633 32 614 135 207 Deposits 46 900 38 598 0 38 0 - 70 578 86 044 Other liabilities and equity capital - 792 15 786 407 110 9 179 7 703 16 770 49 163 Total equity and liabilities per business area 46 108 54 384 407 148 9 179 7 633 17 348 135 207 3. K3. Kvarvartaltal | Notes 38
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Note 10 Loans LLoans at amoroans at amortized costtized cost Loans held in a "hold to receive" business model are measured at amortized cost. For all loans at amortized cost, the expected credit loss (ECL-expected credit loss) and loss provisions have been calculated according to IFRS 9. LLoans at foans at fair value thrair value through prough proofit and lossfit and loss Fixed-rate loans to customers are classified at fair value over profit or loss (Fair Value Option). LLoans at foans at fair value thrair value through other comprough other comprehensivehensive income (OCI)e income (OCI) The bank sells parts of the loans that qualify for transfer to SB1 Boligkreditt. Loans that are part of business models (portfolios) with loans that qualify for transfer are therefore held both to receive contractual cash flows and for sale. The bank therefore classifies mortgages at fair value through OCI. ParParent Bankent Bank GrGroupoup (Amount in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 LLoans to croans to credit institutions at amoredit institutions at amortised costtised cost 597 466466 Loans without agreed maturity or notice of withdrawal 466466 597 9 473 1010 248248 Loans with agreed maturity or notice of withdrawal 11 662662 1 797 10 070 1010 714714 LLoans to croans to credit institutionsedit institutions 22 128128 2 394 LLoans to customeroans to customers at amors at amortised costtised cost 54 340 5555 580580 Loans at amortised cost 6666 018018 63 843 54 340 5555 580580 LLoans to customeroans to customers at amors at amortised costtised cost 6666 018018 63 843 LLoans to customeroans to customers at fs at fair value thrair value through prough proofit and lossfit and loss 4 571 44 090090 Loans to customers at fixed interest rates 44 090090 4 571 LLoans to customeroans to customers at fs at fair value thrair value through OCIough OCI 34 240 3737 998998 Mortgages to customers 3737 998998 34 240 38 811 4242 088088 LLoans at foans at fair valueair value 4242 088088 38 811 93 151 9797 668668 TTotal grotal gross loans to customeross loans to customerss 108108 106106 102102 654654 103 221 108108 383383 TTotal grotal gross loansoss loans 110110 235235 105 048 LLoans transfoans transferered to SB1 Boligkred to SB1 Boligkreditt/SB1 Næringskreditt/SB1 Næringskr editteditt 47 840 4949 986986 Loans transrered to SB1 Boligkreditt 4949 986986 47 840 77 7373 Loans transfered to SB1 Næringskr editt 7373 77 47 917 5050 059059 TTotal loans transfotal loans transferered to SB1 BK and SB1 NKed to SB1 BK and SB1 NK 5050 059059 47 917 151 138 158158 441441 TTotal grotal gross loans included loans transfoss loans included loans transferered to SB1 BK and SB1ed to SB1 BK and SB1 NKNK 160160 294294 152 965 PrProovision fvision for cror credit losses - redit losses - reduction in assetseduction in assets - 100 -- 9191 Provision for credit losses - stage 1 -- 107107 - 114 - 289 -- 263263 Provision for credit losses - stage 2 -- 294294 - 335 - 312 -- 320320 Provision for credit losses - stage 3 -- 360360 - 377 92 450 9696 994994 Net loans to customerNet loans to customers es ex. loans transfx. loans transferered to Sb1 SB1 BK anded to Sb1 SB1 BK and SB1 NKSB1 NK 107107 343343 101 828 3. K3. Kvarvartaltal | Notes 39
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ParParent Bank 30.09.25ent Bank 30.09.25 (Amount in NOK million) LLending prending proovisionvision LLoans broans brokoken doen down bwn by sector/industry sector/industryy TTotalotal commitmentscommitments toto amoramortisedtised costcost LLending at fending at fairair valuevalue StageStage 11 StageStage 22 StageStage 33 NetNet loansloans Agriculture, forestry and fishin 11 845 332 - 5 - 69 - 42 12 061 Mining and quarrying 35 0 0 0 0 35 Manufacturing 1 880 29 - 3 - 16 - 22 1 868 Electricity, gas, steam and air conditioning supply 2 217 0 - 5 - 1 0 2 210 Water supply, sewerage, waste managment and remediation activities 147 3 0 0 0 150 Construction 1 050 161 - 2 - 23 - 26 1 160 Wholesale and retail trade, repair of motor vehicles and motorcycles 1 487 58 - 4 - 8 - 1 1 531 Transporting and storage 3 191 133 - 12 - 7 - 2 3 302 Accommodation and food service activities 755 30 - 1 - 3 - 6 775 Publishing, broadcasting, content production and distribution 22 10 0 0 0 32 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services 41 16 0 0 - 1 56 Financial services 12 264 3 - 12 - 2 0 12 255 Real estate activities 18 350 39 - 35 - 93 - 164 18 096 Professional, scientific and technical activities 1 009 74 - 3 - 3 - 1 1 075 Administrative and support service activities 251 88 - 1 - 2 - 1 335 Public administration and defence; compulsory social security 443 0 0 0 0 443 Education 87 49 0 0 - 2 134 Human health and social work activities 213 124 0 0 0 337 Arts, entertainment and recreation 369 71 0 - 2 0 438 Other services activities 355 80 - 1 - 4 - 2 428 Employment in private households and other goods and service production for own use in private households 1 196 7 - 3 - 2 0 1 198 Corporate market 57 204 1 308 - 87 - 236 - 269 57 920 Retail market 9 090 40 780 - 4 - 27 - 50 49 789 TTotal loansotal loans 6666 294294 4242 088088 -- 9191 -- 263263 -- 320320 107107 710710 3. K3. Kvarvartaltal | Notes 40
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LLedning predning proovision classifiedvision classified as debtas debt Financial commitments brFinancial commitments brokoken doen down bwn by sector/industry sector/industryy Financial commitments toFinancial commitments to amoramortised costtised cost StageStage 11 StageStage 22 StageStage 33 TTotalotal Agriculture, forestry and fishin 1 341 - 1 - 2 0 - 3 Mining and quarrying 3 0 0 0 0 Manufacturing 693 - 1 - 2 - 3 - 6 Electricity, gas, steam and air conditioning supply 352 0 0 0 0 Water supply, sewerage, waste managment and remediation activities 16 0 0 0 0 Construction 434 - 1 - 5 0 - 6 Wholesale and retail trade, repair of motor vehicles and motorcycles 512 - 1 - 2 0 - 3 Transporting and storage 2 221 - 6 - 5 0 - 10 Accommodation and food service activities 71 0 0 0 - 1 Publishing, broadcasting, content production and distribution 8 0 0 0 0 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services 19 0 0 0 0 Financial services 182 - 1 0 0 - 1 Real estate activities 1 369 - 8 - 6 0 - 13 Professional, scientific and technical activities 161 0 0 0 - 1 Administrative and support service activities 53 0 0 0 0 Public administration and defence; compulsory social security 996 0 0 0 0 Education 7 0 0 0 0 Human health and social work activities 27 0 0 0 0 Arts, entertainment and recreation 53 0 0 0 0 Other services activities 115 0 - 1 0 - 2 Employment in private households and other goods and service production for own use in private households 26 0 0 0 0 Corporate market 8 661 - 19 - 24 - 4 - 47 Retail market 1 777 0 0 0 0 TTotal loansotal loans 1010 438438 -- 1919 -- 2424 -- 44 -- 4747 3. K3. Kvarvartaltal | Notes 41
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GrGroup 30.09.25oup 30.09.25 (Amount in NOK million) LLending prending proovisionvision LLoans broans brokoken doen down bwn by sector/industry sector/industryy TTotal commitments tootal commitments to amoramortised costtised cost LLending atending at ffair valueair value StageStage 11 StageStage 22 StageStage 33 NetNet loansloans Agriculture, forestry and fishin 13 273 332 - 7 - 74 - 42 13 482 Mining and quarrying 65 0 0 0 0 65 Manufacturing 2 361 29 - 4 - 24 - 23 2 339 Electricity, gas, steam and air conditioning supply 2 247 0 - 5 - 1 0 2 241 Water supply, sewerage, waste managment and remediation activities 349 3 0 - 1 0 351 Construction 1 773 161 - 3 - 26 - 30 1 875 Wholesale and retail trade, repair of motor vehicles and motorcycles 1 864 58 - 5 - 9 - 2 1 904 Transporting and storage 4 267 133 - 15 - 11 - 7 4 368 Accommodation and food service activities 829 30 - 2 - 4 - 7 847 Publishing, broadcasting, content production and distribution 26 10 0 0 0 35 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services 42 16 0 0 - 1 58 Financial services 12 265 3 - 10 - 2 0 12 256 Real estate activities 9 867 39 - 35 - 94 - 165 9 612 Professional, scientific and technical activities 1 124 74 - 4 - 4 - 2 1 189 Administrative and support service activities 1 005 88 - 3 - 3 - 13 1 074 Public administration and defence; compulsory social security 469 0 0 0 0 469 Education 108 49 0 0 - 2 155 Human health and social work activities 228 124 0 0 0 352 Arts, entertainment and recreation 421 71 - 1 - 2 0 489 Other services activities 430 80 - 1 - 5 - 2 502 Employment in private households and other goods and service production for own use in private households 1 196 7 - 3 - 2 0 1 198 Corporate market 54 209 1 308 - 99 - 260 - 295 54 862 Retail market 13 939 40 780 - 8 - 33 - 65 54 612 TTotal loansotal loans 6868 147147 4242 088088 -- 107107 -- 294294 -- 360360 109109 474474 3. K3. Kvarvartaltal | Notes 42
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LLedning predning proovision classifiedvision classified as debtas debt Financial commitments brFinancial commitments brokoken doen down bwn by sector/industry sector/industryy Financial commitments toFinancial commitments to amoramortised costtised cost StageStage 11 StageStage 22 StageStage 33 TTotalotal Agriculture, forestry and fishin 1 368 - 1 - 2 0 - 3 Mining and quarrying 3 0 0 0 0 Manufacturing 724 - 1 - 2 - 3 - 6 Electricity, gas, steam and air conditioning supply 352 0 0 0 0 Water supply, sewerage, waste managment and remediation activities 80 0 0 0 0 Construction 519 - 1 - 5 0 - 6 Wholesale and retail trade, repair of motor vehicles and motorcycles 675 - 1 - 2 0 - 3 Transporting and storage 2 280 - 6 - 5 0 - 10 Accommodation and food service activities 77 0 0 0 - 1 Publishing, broadcasting, content production and distribution 8 0 0 0 0 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services 19 0 0 0 0 Financial services 182 - 1 0 0 - 1 Real estate activities 1 369 - 8 - 6 0 - 13 Professional, scientific and technical activities 226 0 0 0 - 1 Administrative and support service activities 302 0 0 0 0 Public administration and defence; compulsory social security 996 0 0 0 0 Education 7 0 0 0 0 Human health and social work activities 27 0 0 0 0 Arts, entertainment and recreation 53 0 0 0 0 Other services activities 145 0 - 1 0 - 2 Employment in private households and other goods and service production for own use in private households 26 0 0 0 0 Corporate market 9 439 - 19 - 24 - 4 - 47 Retail market 1 832 0 0 0 0 TTotal loansotal loans 1111 271271 -- 1919 -- 2424 -- 44 -- 4747 ParParent Bank 30.09.25ent Bank 30.09.25 (Amount in NOK million) TTotal loan commitments brotal loan commitments brokoken doen down bwn by stage oy stage of the crf the creditedit risk assessmentrisk assessment Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Total loan commitments to amortised cost 01.01.25 96 522 13 864 1 610 111111 996996 Changes in the period due to loans migrated between the stages to (-from) stage 1 1 974 -1 967 - 7 00 to (-from) stage 2 -3 309 3 346 - 37 00 to (-from) stage 3 - 38 - 150 187 00 Net increase/(decrease) balance existing loans -5 246 - 929 - 65 -6-6 240240 Originated or purchased during the period 28 069 1 579 193 2929 842842 Loans that have been derecognised -15 675 -2 483 - 164 --1818 322322 Changes caused by modifications which hasn't resultet in a deduction 1 202 339 5 11 547547 TTotal loan commitments to amorotal loan commitments to amortised costtised cost 103103 500500 1313 598598 11 723723 118118 821821 Off-balance sheet -8 464 -1 937 - 37 --1010 438438 GrGross loansoss loans 9595 037037 1111 661661 11 685685 108108 383383 Provision for credit losses - reduction in assets - 91 - 263 - 320 -- 673673 Net loansNet loans 9494 946946 1111 399399 11 365365 107107 710710 3. K3. Kvarvartaltal | Notes 43
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GrGroup 30.09.25oup 30.09.25 (Amount in NOK million) TTotal loan commitments brotal loan commitments brokoken doen down bwn by stage oy stage of the crf the creditedit risk assessmentrisk assessment Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Total loan commitments to amortised cost 01.01.25 96 998 15 807 1 767 114114 572572 Changes in the period due to loans migrated between the stages to (-from) stage 1 501 - 479 - 21 00 to (-from) stage 2 - 613 623 - 9 00 to (-from) stage 3 - 24 - 92 116 00 Net increase/(decrease) balance existing loans - 828 - 218 - 38 --11 084084 Originated or purchased during the period 2 842 303 10 33 155155 Loans that have been derecognised 5 136 - 490 81 44 727727 Changes caused by modifications which hasn't resultet in a deduction 135 0 0 136136 TTotal loan commitments to amorotal loan commitments to amortised costtised cost 104104 146146 1515 454454 11 906906 121121 506506 Off-balance sheet -9 120 -2 107 - 43 --1111 271271 GrGross loansoss loans 9595 026026 1313 347347 11 863863 110110 235235 Provision for credit losses - reduction in assets - 107 - 294 - 360 -- 762762 Net loansNet loans 9494 919919 1313 053053 11 502502 109109 474474 Note 11 Loss provisions ParParent bankent bank GrGroupoup (Amount in NOK million) Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Changes in lending loss prChanges in lending loss proovisionsvisions TTotalotal Stage 3Stage 3 Stage 2Stage 2 Stage 1Stage 1 -114 -306 -315 --735735 LLoss pross proovisions at 01.01.25visions at 01.01.25 -860-860 -379 -352 -128 -100 -289 -312 --701701 Of which presented as a reduction of the assets -826-826 -377 -335 -114 -14 -17 -3 -34-34 Of which presented as other debt -34-34 -3 -17 -14 Changes in the period due to loans migrating between stages: -41 40 0 00 to (-from) stage 1 00 3 47 -49 11 -14 3 00 to (-from) stage 2 00 3 -16 12 0 4 -4 00 to (-from) stage 3 00 -6 6 0 25 -84 -11 --7171 Net increase/decrease excisting loans --7878 -16 -92 30 -52 -53 -23 --127127 New issued or purchased loan --137137 -23 -57 -58 35 76 16 127127 Loans that have been derecognised 168168 42 92 34 25 49 10 8484 Changes caused by modifications which hasn't resultet in deduction 9898 13 54 31 -110 -287 -324 --721721 TTotal loss protal loss proovisions as at 30.09.25visions as at 30.09.25 -809-809 -364 -318 -127 LLoss pross proovisions allocated to markvisions allocated to marketsets -4 -27 -50 -81-81 Retail market --107107 -65 -33 -8 -106 -259 -274 -640-640 Corporate market --702702 -299 -284 -119 -110 -286 -324 --720720 TTotal loss protal loss proovisions as at 30.09.25visions as at 30.09.25 -809-809 -364 -318 -127 -91 -263 -320 -673-673 Of which presented as a reduction of the assets --762762 -360 -294 -107 -19 -24 -4 --4747 Of which presented as other debt --4747 -4 -24 -19 Explanation of the table: • The changes during the period as a result of migration: Transfer between the stages due to a significant change in credit risk. • Net increase/decrease in balance: Changes in the expexted credit loss, changes in the model assumptions, effects of repayments, ascertainment and other changes that affect the balance. • Newly issued or purchased financial assets: Account numbers of customers that are only found in the closing balance in the ECL model. • Financial assets that have been derecognised: Account numbers of customers that are only found in the opening balance in the ECL 3. K3. Kvarvartaltal | Notes 44
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model. • Provisions for losses also include expected losses on assets not posted to the balance sheet, including guarantees and untapped credit limits, but not loan commitments Note 12 Financial instruments at fair value Financial assets and liabilities classified and measured at fair value are grouped into three different levels, depending on the reliability of the valuation method used: LLeevvel 1el 1: Utilizes quoted prices in active markets for such assets and liabilities. LLeevvel 2el 2: Relies on information that includes prices not directly quoted but are directly or indirectly observable for these assets and liabilities, including prices in inactive markets. LLeevvel 3el 3: When valuation based on Levels 1 and 2 is not available, proprietary valuation methods are employed, relying on non-observable information. StockStockss: Stocks in level 2 include hybrid capital held for sale to customers. The hybrid capital is valued based on observable interest rate curves and credit margins, as well as indicative market prices. Stocks in level 3 include ownership interests in companies where the bank has a minor ownership, and observable market data. The fair value in level 3 is therefore determined based on observable market data and estimated cash flows. BondsBonds: This category mainly includes bonds in the bank’s liquidity portfolio, which are considered less liquid (Level 2 assets when calculating the Liquidity Coverage Ratio, LCR). The bonds are valued based on observable interest rate curves and credit margins, as well as indicative market prices. Financial derivativFinancial derivatives:es: This category includes interest rate derivatives, currency swaps, currency forwards, and commodity derivatives. Interest rate derivatives are valued based on relevant interest rate curves. Currency derivatives are valued at the latest available rates. Commodity derivatives are valued based on observable market prices of the underlying commodities. LLoans:oans: Loans to customers with fixed interest rates The loans consist of fixed-rate loans in Norwegian kroner. The loans are valued based on discounted cash flow, where the discount rate is calculated with a margin over the interest rate curve (level 3). The margin is based on observable market prices. Mortgages to customers This category includes mortgages to customers that can be sold to SpareBank 1 Boligkreditt, and are valued at the agreed amount transferred to SpareBank 1 Boligkreditt (level 3). 3. K3. Kvarvartaltal | Notes 45
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Receivable The group has a receivable valued at fair value (level 3), related to the sale of SNN Pension Fund. The receivable is valued by an external valuer based on the agreed consideration in the sales agreement. GrGroupoup (Amounts in NOK million) Assets at 30.09.25Assets at 30.09.25 Level 1 Level 2 Level 3 Total Shares 972 164 574 1 709 Bonds 21 717 21 717 Financial derivatives 1 332 1 332 SNN Pensjonskasse receivable 255 255 Loans to customers with fixed rate 4 090 4 090 Loans at fair value through OCI 37 998 37 998 Total assets 972 23 213 42 917 67 101 Liabilities at 30.09.25Liabilities at 30.09.25 Financial derivatives 1 008 1 008 Total liabilities 1 008 1 008 Assets at 31.Assets at 31.12.2412.24 Level 1 Level 2 Level 3 Total Shares 780 164 583 1 527 Bonds 0 19 235 19 235 Financial derivatives 1 532 1 532 SNN Pensjonskasse receivable 255 255 Loans to customers with fixed rate 4 571 4 571 Loans at fair value through OCI 34 240 34 240 Total assets 780 20 931 39 649 61 360 Liabilities at 31.Liabilities at 31.12.2412.24 Financial derivatives 1 086 1 086 Total liabilities 1 086 1 086 Changes in instruments at fChanges in instruments at fair value, leair value, levvel 3:el 3: Financial assetsFinancial assets (Amounts in NOK million) Shares SNN Pensjonskasse receivable Loans to customers with fixed rate Loans at fair value through OCI Carrying amount at 31.12.24 583 255 4 571 34 240 Net gains on financial instruments - 9 117 0 Additions/acquisitions 0 0 Sales - 230 Matured - 599 3 988 Carrying amount at 30.09.25 574 255 4 090 37 998 3. K3. Kvarvartaltal | Notes 46
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Note 13 Subsidiaries, associated companies and joint ventures RResult fresult from subsidiaries fully consolidated into the grom subsidiaries fully consolidated into the group financial statementsoup financial statements (Amount in NOK mill.) Result after tax Company Share 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 SpareBank 1 Nord-Norge Portefølje AS 100 % 00 0 00 0 Fredrik Langes Gate 20 AS 100 % -- 55 5 22 2 SpareBank 1 Finans Nord-Norge AS 85 % 172172 149 5858 49 SpareBank 1 Regnskapshuset Nord-Norge AS 85 % 1616 18 11 - 3 EiendomsMegler 1 Nord-Norge AS 85 % 3131 21 77 4 Finansmodell AS (Sub subsidiary) 75 % 00 1 00 0 TTotalotal 213213 195 6767 53 RResult fresult from associated companies and joint vom associated companies and joint venturentures consolidated into the gres consolidated into the group financial statements accoroup financial statements according to the equity methodding to the equity method (Amount in NOK mill.) Result after tax Booked value Company Share 30.09.2530.09.25 30.09.24 3Q253Q25 3Q24 30.09.2530.09.25 31.12.24 SpareBank 1 Mobilitet Holding AS 30,66 % 00 0 00 0 00 0 SpareBank 1 Gruppen AS 19,50 % 309309 578 136136 538 22 712712 2 401 Kredittbanken ASA 13,18 % 44 - 5 22 - 3 436436 413 SpareBank 1 Boligkreditt AS 16,47 % 5858 72 2929 25 22 703703 2 196 SpareBank 1 Næringskr editt AS 0,58 % 00 1 00 0 88 9 SpareBank 1 Utvikling DA 18,00 % 00 0 00 0 144144 144 SpareBank 1 Bank og Regnskap AS 25,00 % 66 11 11 7 4747 43 SpareBank 1 Forvaltning AS 12,08 % 2323 20 88 8 148148 151 SpareBank 1 Gjeldsinformasjon AS 13,83 % 00 0 00 0 11 1 SpareBank 1 Betaling AS 17,94 % -- 88 - 15 22 - 1 207207 212 SB1 Markets AS 14,45 % 2727 32 1010 9 330330 411 TTotalotal 420420 694 189189 583 66 737737 5 981 Note 14 Other assets ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 18 2626 Accrued income 9595 89 0 00 Goodwill and other intangible assets 193193 193 0 00 Deferred tax 00 0 386 416416 Prepayments** 457457 427 129 6868 Other assets* 213213 252 533 510510 TTotal other assetsotal other assets 958958 961 * The item includes NOK 75 million in capital contributions to SNN Pensjonskasse for both 2024 and 3Q25. ** The item includes receivables from SNN Pensjonskasse assessed at fair value in accordance with IFRS 9. In 2024 and 3Q25, this amounts to MNOK 255 3. K3. Kvarvartaltal | Notes 47
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Note 15 Financial derivatives ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Fair value hedging transactionsFair value hedging transactions 30.09.2530.09.25 31.12.24 Net loss charged to the statement of comprehensive income in respect of hedging instruments in connection with actual value hedging 8282 102 Total gain from hedging objects relating to the hedged risk -- 8989 - 107 TTotal fotal fair value hedging transactionsair value hedging transactions -- 77 - 6 The Bank's main Board of Directors has determined limits for maximum risk for the Bank's interest rate positions. Routines have been established to ensure that positions are maintained within these limits. (Amounts in NOK million) Fair value thrFair value through statement oough statement of comprf comprehensivehensive incomee income 30.09.2530.09.25 31.12.24 Fair valueFair value Fair value FFororeign curreign currency instrumentsency instruments ContractContract AssetsAssets LiabilitesLiabilites Contract Assets Liabilites Foreign exchange financial derivatives (forwards) 33 088088 3939 2929 2 832 13 42 Currency swaps 99 179179 2828 8585 10 808 92 55 Total non-standardised contracts 1212 268268 6767 114114 13 640 105 97 Standardised foreign currency contracts (futures) Total foreign currency instruments 1212 268268 6767 114114 13 640 105 97 InterInterest rate instrumentsest rate instruments Interest rate swaps (including cross currency) 4545 747747 11 083083 688688 55 908 1 229 753 Other interest rate contracts 720720 2626 2323 798 29 26 Total non-standardised contracts 4646 467467 11 110110 711711 57 356 1 259 780 Standardised interest rate contracts (futures) Total interest rate instruments 4646 467467 11 110110 711711 57 356 1 259 780 Hedging oHedging of funding loansf funding loans InterInterest rate instrumentsest rate instruments ContractContract AssetsAssets LiabilitesLiabilites Contract Assets Liabilites Interest rate swaps (including cross currency) 1212 422422 155155 183183 11 677 167 214 Total, non-standardised contracts 1212 422422 155155 183183 11 677 167 214 Standardised interest rate contracts (futures) Total interest rate instruments 1212 422422 155155 183183 11 677 167 214 Total interest rate instruments 5858 890890 11 265265 894894 69 033 1 426 994 Total foreign currency instruments 1212 268268 6767 114114 13 640 105 97 TTotalotal 7171 157157 11 332332 11 008008 82 673 1 532 1 086 3. K3. Kvarvartaltal | Notes 48
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Note 16 Deposits ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 Deposits frDeposits from crom credit institutionsedit institutions 308 213213 Deposits without agreed maturity 213213 308 455 11 240240 Deposits with agreed maturity 11 240240 453 763 11 453453 TTotal deposits frotal deposits from crom credit institutionsedit institutions 11 453453 761 Deposits frDeposits from customerom customerss 79 198 8484 110110 Deposits without agreed maturity 8484 048048 79 096 8 529 88 121121 Deposits with agreed maturity 88 116116 8 522 87 727 9292 231231 TTotal deposits frotal deposits from customerom customerss 9292 164164 87 618 88 490 9393 684684 TTotal depositsotal deposits 9393 617617 88 379 Deposits frDeposits from customerom customers brs brokoken doen down bwn by NAy NACECE 5 343 55 825825 Agriculture, forestry and fishin 55 825825 5 343 67 5050 Mining and quarrying 5050 67 1 139 11 354354 Manufacturing 11 354354 1 139 500 423423 Electricity, gas, steam and air conditioning supply 423423 500 305 284284 Water supply, sewerage, waste managment and remediation activities 284284 305 2 239 11 900900 Construction 11 900900 2 239 2 254 22 040040 Wholesale and retail trade, repair of motor vehicles and motorcycles 22 039039 2 254 1 839 22 103103 Transporting and storage 22 103103 1 839 715 947947 Accommodation and food service activities 947947 715 526 175175 Publishing, broadcasting, content production and distribution 175175 526 0 366366 Telecommunications, computer programming, consultancy, IT infrastructure and other information technology services 366366 0 6 378 55 769769 Financial services 55 769769 6 378 3 589 44 436436 Real estate activities 44 435435 3 589 1 718 11 865865 Professional, scientific and technical activities 11 865865 1 718 1 767 931931 Administrative and support service activities 931931 1 767 8 013 88 435435 Public administration and defence; compulsory social security 88 435435 8 013 380 965965 Education 965965 380 1 275 11 005005 Human health and social work activities 11 005005 1 275 1 488 11 806806 Arts, entertainment and recreation 11 806806 1 488 2 142 22 368368 Other services activities 22 303303 2 033 27 100100 Employment in private households and other goods and service production for own use in private households 100100 27 41 707 4343 150150 Total public market 4343 083083 41 598 46 020 4949 081081 Retail market 4949 081081 46 020 87 727 9292 231231 TTotal deposits frotal deposits from customerom customerss 9292 164164 87 618 Note 17 Securities issued ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Booked value BookBookeded valuevalue Changes in securities issuedChanges in securities issued 31.12.24 Issued Matured or redeemed Exchange rate movements Fair value changes Accrued interest 30.09.2530.09.25 Certificates and other short-term loans: Senior bonds 13 756 2 964 -1 351 - 27 - 22 10 1515 331331 Senior bondsSenior bonds 13 756 2 964 -1 351 - 27 - 22 10 1515 331331 3. K3. Kvarvartaltal | Notes 49
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Note 18 Other liabilities ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 2 957 22 819819 Other liabilities 22 848848 3 181 182 397397 Costs incurred 497497 277 40 4040 Deferred tax liabilities 192192 187 33 4848 Off balance loss provision 4848 33 3 212 33 304304 TTotal other liabilitiesotal other liabilities 33 585585 3 678 Specification oSpecification of other liabilitiesf other liabilities 308 555555 Lease liabilites 416416 384 641 326326 Accrued tax 355355 703 14 1414 Tax deductions 1212 24 599 697697 Creditors 701701 640 1 060 882882 Agreed, not paid donations 882882 1 060 335 345345 Miscellaneous liabilities 482482 370 2 957 22 819819 Other liabilitesOther liabilites 22 848848 3 181 Note 19 Subordinated debt and loan capital ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Booked value BookBookeded valuevalue Changes in suborChanges in subordinated loan capital anddinated loan capital and suborsubordinated bond debtdinated bond debt 31.12.2024 Issued Matured or redeemed Exchange rate movements Fair value changes Accrued interest 30.09.202530.09.2025 Subordinated loan capital 1 964 200 1 22 165165 Senior non-preferred 7 471 2 268 -1 889 - 45 2 20 77 828828 SuborSubordinated loan capital and other senior non-dinated loan capital and other senior non- prprefeferrerreded 9 435 2 468 -1 889 - 45 2 21 99 992992 3. K3. Kvarvartaltal | Notes 50
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Note 20 Equity Total EC Capital 1.807.164.288 NOK, distributed on 100.398.016 EC's, each denomination NOK 18. ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 00.01.00 30.09.2530.09.25 31.12.24 1 807 11 807807 Paid-up capital 11 807807 1 807 843 843843 Premium Fund 843843 843 4 001 33 955955 Dividend Equalisation Fund 33 955955 4 001 878 Set aside EC dividend, not decided 878 - 42 -- 3333 Share of other equity 654654 637 11 116116 Share of period result 11 235235 7 487 77 688688 EEquity Cerquity Certificate Capitaltificate Capital 88 495495 8 166 46,36 % 46,3646,36 %% EC capital share of controlling equity, exscl. Hybrid capital 46,3646,36 %% 46,36 % 7 693 77 639639 Primary capital 77 639639 7 693 1 016 Set aside society dividend, not decided 1 016 - 47 -- 3939 Share of other equity 757757 737 11 291291 Share of period result 11 430430 8 662 88 891891 PrimarPrimary capitaly capital 99 825825 9 446 53,64 % 53,6453,64 %% Primary capital share of controlling equity, exscl. hybrid capital 53,6453,64 %% 53,64 % Non-controlling interests 284284 277 1 450 11 450450 Hybrid Capital 11 450450 1 450 17 599 1818 029029 TTotal equity capitalotal equity capital 2020 054054 19 339 Hybrid CapitalHybrid Capital Six hybrid capital instruments issued by the Bank are not covered by the IFRS regulations' definition of debt and are therefore classified as equity. Based on this, accrued interest on the hybrid capital has not been recognised as a cost in the income statement but has been charged directly against equity. When calculating key figures for equity and the equity certificates, accrued interest on hybrid capital is thus deducted from the accounting result. At the same time, hybrid capital is deducted from the equity on the balance sheet. This ensures that the keyfigures relevant to the Bank's owners are calculated on the basis of the result and the equity that actually belong to the owners. The contract terms and conditions for hybrid instruments mean that they are included in the Bank’s Tier 1 capital for capital adequacy purposes, see note 21. 3. K3. Kvarvartaltal | Notes 51
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Hybrid capitalHybrid capital ParParent bank and Grent bank and Groupoup (Amounts in NOK million) 30.09.2530.09.25 31.12.24 2099 3 m NIBOR + 2,80% 200200 200 2099 3 m NIBOR + 3,35% 200200 200 2099 3 m NIBOR + 3,10% 300300 300 2099 3 m NIBOR + 2,60% 350350 350 2099 3 m NIBOR + 3,40% 200200 200 Fixed interest rate 7,53 % 200200 200 Hybrid capital classified as equity capitalHybrid capital classified as equity capital 11 450450 1 450 Average interest hybrid capital 77,61,61 %% 7,81 % Equity Certificates (ECs) The 20 larThe 20 largest Egest EC holderC holders at 30.09.25s at 30.09.25 EEC HolderC Holderss Number oNumber of Ef Ecscs SharShare oe of Ef EC CapitalC Capital Skandinaviska Enskilda Banken AB 5 692 450 5,67% Verdipapirfondet Eika Egenkapitalbevis 4 916 910 4,90% Geveran Trading Company Ltd 3 990 961 3,98% Kommunal Landspensjonskasse Gjensidige 3 741 869 3,73% Pareto Aksje Norge Verdipapirfond 3 412 877 3,40% MP Pensjon Pensjonskasse 2 484 322 2,47% State Street Bank and Trust Comp 2 470 970 2,46% Brown Brothers Harriman & Co. 2 322 632 2,31% State Street Bank and Trust Comp 1 851 730 1,84% Forsvarets Personellservice 1 846 252 1,84% Spesialfondet Borea Utbytte 1 737 249 1,73% Sparebankstiftelsen SpareBank 1 Nord-Norge 1 411 606 1,41% Verdipapirfondet SpareBank 1 Utbytte 1 305 000 1,30% State Street Bank and Trust Comp 1 006 800 1,00% Brown Brothers Harriman & Co. 913 917 0,91% Verdipapirfondet Heimdal Utbytte 875 000 0,87% Landkreditt Utbytte 811 129 0,81% State Street Bank and Trust Comp 805 195 0,80% The Bank of New York Mellon SA/NV 743 714 0,74% Caceis Bank 721 243 0,72% TTotalotal 4343 061061 826826 42,89%42,89% Dividend policyDividend policy The Bank's dividend policy states that the Bank aims to provide a competitive direct return for the Bank's owners. The target dividend rate is at minimum 50%. The future distribution rate will also take into account the group's capital coverage and future growth. 3. K3. Kvarvartaltal | Notes 52
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TTrading statisticsrading statistics 1,508,2871,508,2871,580,8361,580,836 1,157,4241,157,424 1,657,5401,657,540 2,103,7862,103,786 1,589,0651,589,065 2,406,3412,406,341 2,157,4142,157,414 2,510,9242,510,924 3,130,1283,130,128 2,121,1542,121,154 1,814,6671,814,6671,851,3631,851,363 3,849,3823,849,382 2,922,4572,922,457 Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 Price trPrice trend NONGend NONG Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25 25 50 75 100 125 150 175 3. K3. Kvarvartaltal | Notes 53
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Note 21 Capital Adequacy and MREL Starting from the second quarter of 2025, SpareBank 1 Nord-Norge will report Capital Adequacy under the new regulatory framework – Capital Requirements Regulation (CRR3). CRR3 is a further development of the previous CRR2 and entails significant changes in the calculation of capital requirements. The new framework includes, among other things, new risk weighting of exposures, new off-balance sheet categories, and a new calculation method for Operational Risk. In order for the period’s profit to be included in the capital adequacy reporting, there is a regulatory requirement that the quarterly financial statements must be audited. For the third quarter of 2025, the quarterly financial statements are audited, and therefore 37.1 per cent of the period’s profit is included in the capital adequacy. If 50 per cent of the period’s profit (in line with the current dividend policy) had been included, the Group’s CET1 capital ratio would have been 16.66 per cent. ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 EEquityquity 2 650 22 650650 Equity Certificate capital and premium reserve 22 650650 2 650 1 450 11 450450 Hybrid capital 11 450450 1 450 4 837 55 038038 Dividend Equalisation Fund 55 845845 5 516 8 662 88 891891 Primary capital 99 825825 9 446 0 00 Non-controlling interests 284284 277 17 599 1818 029029 TTotal equityotal equity 2020 054054 19 339 Tier 1 CapitalTier 1 Capital -1 450 --11 450450 Hybrid capital --11 450450 -1 450 -1 895 00 Deduction for allocated dividends 00 -1 895 0 --11 514514 Period result not eligible as CET1 capital --11 656656 0 0 00 Minority interests not eligible as CET1 capital -- 8989 - 103 0 00 Goodwill and other intangible assets --11 013013 -1 024 - 62 -- 6868 Adjustments to CET1 due to prudential filters -- 7676 - 71 0 -- 189189 IRB shortfall of credit risk adjustments to expected losses -- 273273 - 210 0 00 Deduction for significant investments in financial sector entities -- 609609 - 319 - 276 -- 276276 Deduction for non-significant investments in financial sector entities -- 208208 - 213 13 812 1414 532532 Common ECommon Equity Tier 1 Capitalquity Tier 1 Capital 1414 680680 14 054 Additional Tier 1 CapitalAdditional Tier 1 Capital 1 450 11 450450 Hybrid capital 11 691691 1 722 - 49 -- 4949 Deduction for Tier 1 capital in other financial sector entities with a significant investment -- 4949 - 49 15 213 1515 933933 TTotal Tier 1 Capitalotal Tier 1 Capital 1616 322322 15 728 Tier 2 CapitalTier 2 Capital 1 950 22 150150 Non-perpetual subordinated capital 22 531531 2 328 0 00 Expected losses on IRB, net of writedowns 00 0 - 227 -- 229229 Deduction for subordinated capital in other financial institutions with a significant investment -- 229229 - 227 1 723 11 921921 Tier 2 CapitalTier 2 Capital 22 302302 2 101 16 936 1717 854854 Own FundsOwn Funds 1818 624624 17 829 3. K3. Kvarvartaltal | Notes 54
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ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.09.2530.09.25 30.09.2530.09.25 31.12.24 Risk eRisk exposurxposure amounte amount 5 865 1111 347347 Corporates - SME 1111 527527 5 877 18 492 88 109109 Corporates - Specialised Lending 88 947947 19 476 866 55 128128 Corporates - Other 55 125125 909 13 019 1212 878878 Retail - Secured by real estate 2020 745745 22 910 1 108 11 884884 Retail - Other 11 904904 1 136 9 255 00 Equity IRB 00 0 48 605 3939 348348 CrCredit risk IRBedit risk IRB 4848 247247 50 308 0 137137 Central governments or central banks 304304 205 253 335335 Regional governments or local authorities 417417 303 0 22 Public sector entities 22 2 2 245 33 213213 Institutions 11 434434 1 265 2 989 22 888888 Corporates 66 952952 6 262 131 6363 Retail 55 436436 5 221 487 11 206206 Secured by mortgages on immovable property 11 508508 669 2 00 Exposures in default 319319 260 1 083 11 149149 Covered bonds 11 515515 1 482 0 250250 Collective investments undertakings (CIU) 11 1 4 862 1717 494494 Equity 66 864864 6 158 1 191 11 055055 Other assets 11 628628 1 822 13 241 2727 791791 CrCredit risk standaredit risk standardised apprdised approachoach 2626 381381 23 650 61 846 6767 139139 TTotal crotal credit riskedit risk 7474 628628 73 958 7 994 66 520520 Operational risk 88 093093 8 977 68 104104 Credit Value Adjustment 939939 672 0 00 Other risk exposure amounts 66 645645 0 0 00 Risk exposure amount for position, foreign exhange and commodities risks 8383 71 69 908 7373 763763 TTotal risk eotal risk exposurxposure amounte amount 9090 387387 83 678 5 593 55 901901 Minimum Requirement for Own Funds 77 231231 6 694 Capital Adequacy RatiosCapital Adequacy Ratios 19,8 % 19,19,77 %% Common Equity Tier 1 Capital 16,216,2 %% 16,8 % 21,8 % 21,621,6 %% Tier 1 Capital Ratio 18,18,11 %% 18,8 % 24,2 % 24,224,2 %% Total Capital Ratio 20,620,6 %% 21,3 % 11,1 % 10,10,44 %% Leverage Ratio 77,,44 %% 7,8 % Own funds and eligible liabilities (MREL)Own funds and eligible liabilities (MREL) As part of the Financial Supervisory Authority of Norway’s work on resolution plans for Norwegian banks, SpareBank 1 Nord-Norge received an updated decision in December 2023 regarding the minimum requirement for own funds and eligible liabilities (MREL). A key element of the resolution framework is that capital instruments and debt can be written down and/or converted into equity through internal recapitalization (bail-in), ensuring that institutions have sufficient own funds and eligible liabilities to be resolved without the use of public funds. The bank’s effective MREL requirement as of 30.09.25 is set at 35.24 per cent, which is the sum of the MREL percentage of 25.77 per cent and a combined buffer requirement (CBR) of 9.47 per cent of the adjusted risk-weighted exposure amount (TREA) applicable at any given time. 3. K3. Kvarvartaltal | Notes 55
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In 2025, the Group must also meet the full minimum requirement for subordinated instruments, which as of 30.09.25 is 28.27 per cent. Subordination means that part of the requirement must be met with own funds or debt instruments with priority that meets the requirements of Section 20-32(1) no. 4 of the Financial Institutions Act. The minimum requirement can therefore only be met with own funds and subordinated debt. Up to and including 2023, the difference between the effective MREL requirement and the subordination requirement could be met with all unsecured senior debt with a maturity of at least 12 months. In 2025, this difference can only be met with unsecured senior debt that satisfies the requirements of Section 20-7a, first paragraph, of the Financial Institutions Regulation. The table below presents the applicable weighted requirements and the bank’s compliance with them. GrGroupoup (Amounts in NOK million) 30.09.2530.09.25 31.12.24 Own funds and eligible liabilitiesOwn funds and eligible liabilities Own funds and eligible liabilities including eligible YTD results (excl. SB1 Boligkreditt and SB 1 Næringskr editt) 1515 582582 15 314 Senior non-preferred (SNP) - over 12 mths 77 827827 6 576 Senior preferred (SP) - over 12 mths 99 345345 7 503 Total own funds and eligible liabilities 3232 754754 29 393 Total risk exposure amount (TREA) of the resolution group 7575 138138 71 134 Own funds and eligible liabilities as perOwn funds and eligible liabilities as percentage ocentage off the total risk ethe total risk exposurxposure amounte amount Own funds and eligible liabilities 43,5943,59 %% 41,32 % Own funds and SNP 31,31,1515 %% 30,77 % MREL rMREL requirequirement eement exprxpressed as nominal amountessed as nominal amount Total MREL requirement 35,2435,24 %% 35,22 % Total subrogation (linear phasing-in requirement) 28,2728,27 %% 28,26 % Surplus (+) / deficit (-) of MREL capital 8,358,35 %% 6,10 % Surplus (+) / deficit (-) of subrogation 2,882,88 %% 2,51 % Note 22 Liquidity risk Definition, management, and control of liquidity risk are described in Note 6, section 2.2 of the annual financial statements. GrGroupoup 30.09.2530.09.25 31.12.24 Avarage remaining term to maturity debt securities (year's) 3,3,7373 2,86 Liquidity Coverage Ratio (LCR) 146146 147 Net Stable Funding Risk (NSFR) Total 118118 120 Note 23 Changes to group structure There has been no significant changes to the Group`s structure in the third quarter of 2025. 3. K3. Kvarvartaltal | Notes 56
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Note 24 Events occuring after the end of the quarter There are no other matters of material significance to the quarterly financial statements during the period leading up to the Board’s final approval of the accounts. 3. K3. Kvarvartaltal | Notes 57