Interim report
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Q3 Quarterly report 2026
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Contents Key figures ............................................................................................................................ 3 Report of the Board of Directors .................................................... 5 Quarterly financial report ......................................................................... 14 Income statement ..................................................................................................................... 14 Balance sheet ................................................................................................................................ 15 Statement of changes in equity ....................................................................................... 16 Cash flow statement ................................................................................................................. 17 Notes ▷ Note 1 Accounting policies ....................................................................................... 18 ▷ Note 2 Critical estimates and judgements concerning use of the accounting policies ....................................... 18 ▷ Note 3 Impairments on loans and financial commitments recognised in the income statement ...................... 21 ▷ Note 4 Impairment provisions on loans and financial commitments recognised in the balance sheet .......................... 22 ▷ Note 5 Customer deposits .......................................................................................... 24 ▷ Note 6 Loans and other financial commitments to customers .............. 25 ▷ Note 7 Capital adequacy ............................................................................................. 29 ▷ Note 8 Financial derivatives ........................................................................................ 31 ▷ Note 9 Securities issued, non-preferred bonds and subordinated loan .................................................................................. 32 ▷ Note 10 Segment reporting .......................................................................................... 33 ▷ Note 11 Net income/losses from financial investments ............................... 34 ▷ Note 12 Liquidity risk ......................................................................................................... 34 ▷ Note 13 Information about fair value ...................................................................... 35 ▷ Note 14 Sale of SpareBank 1 Sør-Norge Forretningspartner AS ............. 36 ▷ Note 15 Events after the balance sheet date ..................................................... 36 Additional information Quarterly overview ................................................................................................................... 37 Contacts and financial calendar .......................................................................................39 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited2
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Q3 2026 Q3 2025 01.01 - 30.09 Year 2025Main figures 2026 2025 Net interest income 2 237 2 328 6 562 6 948 9 271 Net commission and other income 771 778 2 457 2 423 3 241 Net income on financial investments 462 443 1 230 1 210 1 528 Total income 3 470 3 549 10 249 10 581 14 040 Total operating expenses 1 208 1 314 3 788 4 010 5 340 Operating profit before impairment 2 262 2 235 6 461 6 571 8 701 Impairment losses on loans and financial commitments 85 115 197 215 352 Pre-tax profit 2 177 2 120 6 264 6 356 8 349 Tax expense 420 423 1 231 1 254 1 655 Profit after tax 1 757 1 697 5 034 5 102 6 694 Balance sheet figures Gross loans to customers 433 170 393 747 397 517 Gross loans to customers incl. transfers to credit institutions 1) 442 505 414 549 418 335 Deposits from customers 249 099 223 294 231 112 Total assets 554 749 507 768 513 054 Average total assets 546 077 515 000 531 328 500 282 502 808 Selected key figures Profitability Return on equity 1) 13,2 % 13,0 % 12,6 % 13,1 % 12,8 % Return on equity adjusted for goodwill from merger and merger costs 1) 14,2 % 14,5 % 13,5 % 14,5 % 14,1 % Cost to income ratio 1) 34,8 % 37,0 % 37,0 % 37,9 % 38,0 % Cost to income ratio Banking Group 1) 33,1 % 35,7 % 35,2 % 36,5 % 36,1 % Average net interest margin 1) 1,62% 1,79% 1,65% 1,86% 1,84% Average net interest margin incl. transfers to credit institutions 1) 1,59% 1,74% 1,61% 1,79% 1,78% Balance Sheet Growth Growth in loans over last 12 months 1) 10,0 % 36,1 % 5,8 % Growth in loans incl. transfers to credit institutions over last 12 months 1) 6,7 % 43,3 % 3,3 % Growth in deposits over last 12 months 1) 11,6 % 52,4 % 13,3 % Solidity Common equity Tier 1 capital ratio 17,70 % 18,51% 17,57% Tier 1 capital ratio 19,50% 20,48% 19,45% Capital ratio 21,79% 23,19% 21,99% Tier 1 capital 45 736 44 572 44 213 Risk weighted balance 234 512 217 641 227 275 Leverage ratio 7,4 % 7,4 % 7,3 % Liquidity Liquidity Coverage Ratio (LCR) 2) 162% 148% 182% Deposit to loan ratio 1) 57,5 % 56,7 % 58,1 % Deposit to loan incl. transfers to credit institutions ratio 1) 56,3 % 53,9 % 55,2 % Impairments on loans and financial commitments 1) Impairment ratio 1) 0,08% 0,12% 0,06% 0,08% 0,09% Loans and financial commitments in Stage 2 and Stage 3 1) Loans and financial commitments in Stage 2, % of gross loans and financial commitments 1) 4,45% 7, 20 % 5,64% Loans and financial commitments in Stage 3, % of gross loans and financial commitments 1) 0,40% 0,57% 0,60% Key figures SpareBank 1 Sør-Norge Group (MNOK) 3 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited KEY FIGURES
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SpareBank 1 Sør-Norge share 30.09.26 31.12.25 31.12.24 31.12.23 31.12.22 Market price 226,50 198,40 146,60 128,90 120,70 Market capitalisation (MNOK) 84 190 74 491 55 042 34 064 30 869 Book equity per share (group) 1) 137,47 137,4 0 128,77 115,07 106,32 Annualised earnings per share, NOK 17,31 16,98 13,08 16,27 12,88 Dividends per share - 12,00 8,50 7,50 7,0 0 Price / Earnings per share 1) 13,09 11,68 11,21 7,92 9,37 Price / Book equity 1) 1,65 1,44 1,14 1,12 1,14 Annualised effective return 3) 27,0 % 41,1 % 19,6 % 12,6 % −4,9 % 1) Defined as alternative performance targets (APMs), see the appendix to the interim report 2) High quality liquid assets divided by total net cash outflows in a 30-day, serious stress scenario 3) %- change in the market price in the last period, including paid share dividend 4 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited KEY FIGURES
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Solid quarter with strong lending growth and good cost control The Group’s results for Q3 2026 The Group reported operating profit before tax of NOK 2 177 million in the third quarter of 2026, an increase of NOK 95 million compared with the previous quarter. Operating profit was driven by growth in net interest income, reduced costs, increased income from financial instruments and low impairment losses. The Group’s quarterly lending growth was 1.8%, with growth of 1.6% in the Retail Market and 2.0% in the Corporate Market. Operating profit before tax increased by NOK 57 million compared with the third quarter of 2025. The improvement was driven by lower costs, higher income from financial instruments and reduced impairment losses. Pressure on the net interest margin had a negative impact on the result. The return on equity after tax was 13.2% for the quarter (14.2% adjusted for goodwill from the merger). Net interest income Net interest income amounted to NOK 2 237 million in the third quarter of 2026, an increase of NOK 91 million from the previous quarter. Adjusted for number of days, the increase was NOK 67 million. The development was primarily driven by strong lending growth. Compared with the same quarter last year, net interest income declined by NOK 92 million, due to pressure on net interest margin. Average net interest margin was 1.62% in the third quarter of 2026, unchanged from the previous quarter and 1.79% in the same quarter last year. Net commission and other income Table 1, Net commission and other income Q3 26 Q2 26 Q3 25 Payment facilities 159 139 142 Insurance products 141 137 125 Savings/placements 55 61 46 Guarantee commission 23 25 30 Commitment fee 36 36 26 Arrangement- and customer fees 20 21 27 Commission income - Real estate agencies 258 299 242 Commission income - Accounting firm 50 133 90 Commission income - Credit institutions 12 15 35 Other 17 22 14 Net commission and other income 771 888 778 Net commission and other income amounted to NOK 771 million for the third quarter of 2026, a decrease of NOK 117 million compared with the previous quarter. In the third quarter of 2026, the Group sold 55,2% of its ownership interest in SpareBank 1 Sør-Norge Forretningspartner AS. Adjusted for commissions from this company, the decrease was NOK 34 million. The decrease was primarily driven by seasonally lower commission from the real estate agency, while higher activity within payment facilities offset some of the decline. Compared with the third quarter of 2025, net commission and other income decreased by NOK 7 million. Adjusted for commissions from SpareBank 1 Sør-Norge Forretningspartner AS, income increased by NOK 32 million. The increase was primarily driven by strong growth in income from payment facilities, insurance, savings/ placement and commissions from the real estate agency. Commission income from credit institutions was reduced as a result of the repurchase of lending volumes from SpareBank 1 Boligkreditt AS. 5 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Net income on financial investments Table 2, Net income on financial investments Q3 26 Q2 26 Q3 25 Income from ownership interests 232 324 266 Net gains/losses on financial instruments 230 76 177 - Dividends 1 47 11 - shares and equity certificates 107 −3 19 - certificates and bonds 9 −8 9 - interests and currency trading 47 42 37 - derivatives 65 −1 101 Net income on financial investments 462 400 443 Net income from financial investments amounted to NOK 462 million in the third quarter of 2026, up from NOK 400 million in the previous quarter. Income from financial instruments increased by NOK 154 million, mainly due to the NOK 80 million gain on the sale of SpareBank 1 Sør-Norge Forretningspartner AS and positive mark-to-market changes in shares and derivatives. Income from ownership interests decreased by NOK 92 million. See table 3 for details on income from ownership interests. Please also see the later sections for detailed descriptions of the performance of the individual companies. Compared with the same quarter last year, net income from financial investments increased by NOK 19 million. Income from ownership interests decreased by NOK 34 million, offset by a NOK 53 million increase in income from financial instruments. Table 3, Income from ownership interests Q3 26 Q2 26 Q3 25 SpareBank 1 Gruppen AS 143 174 136 BN Bank AS 63 85 85 SpareBank 1 Forvaltning AS 27 35 27 SB1 Markets AS 2 9 11 Kredittbanken ASA 2 8 4 SpareBank 1 Betaling AS 0 18 3 Other −5 −5 1 Total income from ownership interests 232 324 266 Operating expenses Table 4, Operating expenses Q3 26 Q2 26 Q3 25 Personnel expenses 768 803 791 IT expenses 193 207 190 Marketing 34 39 34 Administrative expenses 99 127 109 Operating expenses 53 58 53 Depreciation and impairments 61 63 59 Total operating expenses 1 208 1 298 1 236 Merger expenses 0 0 78 Total operating expenses 1 208 1 298 1 314 The Group’s cost to income ratio was 34.8% in the third quarter of 2026, compared with 37.8% in the second quarter of 2026 and 37.0% in the same quarter last year. The banking group’s cost to income ratio 1 was 33.1% for the third quarter of 2026, compared with 36.5% for the previous quarter and 35.7% in the same quarter last year. The Group’s operating expenses amounted to NOK 1 208 million in the third quarter of 2026, a decrease of NOK 90 million (-6.9%) from the previous quarter. Adjusted for costs in SpareBank 1 Sør-Norge Forretningspartner AS, costs decreased by NOK 31 million. Operating expenses in the Parent bank decreased by NOK 57 million (-6,0%). The decrease reflects good cost control, impact of reduced FTEs and seasonal effects. Compared with the third quarter of 2025, operating expenses decreased by NOK 106 million. Adjusted for merger expenses of NOK 78 million and costs in SpareBank 1 Sør-Norge Forretningspartner AS, costs increased by NOK 4 million. Operating expenses in the Parent bank decreased by NOK 21 million, reflecting positive cost development, driven by merger synergies and FTE reductions. 1 The consolidated cost to income ratio equals total costs in the banking group divided by total income less net income from financial investments. The banking group includes SpareBank 1 Sør-Norge (parent bank) and SR-Boligkreditt AS. 6 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Impairments on loans and financial commitments, and loans and financial commitments in Stage 3 The Group recognised impairments on loans and financial commitments totaling NOK 85 million in the third quarter of 2026, compared with NOK 54 million for the previous quarter and NOK 115 million for the third quarter of 2025. In the third quarter of 2026, NOK 54 million of the impairments were individual impairments, while NOK 30 million were increased model-based impairments. The increase in individual impairments is mainly related to exposures in the Corporate Market. The Group’s annualised impairment on loans and financial commitments amounted to 0.08% of gross loans in the third quarter of 2026, compared with 0.05% in the previous quarter and 0.12% in the third quarter of 2025. The Group’s loans and financial commitments are classified into three groups: Stage 1, Stage 2 and Stage 3. Stage 3 is used for loans and financial commitments that have seen a significant rise in credit risk since being granted and where there is objective evidence of a loss event on the balance sheet date. The loss provision must cover expected losses over their lifetime for these loans and financial commitments. Gross loans and financial commitments classified as Stage 3 amounted to NOK 2 094 million at the end of the third quarter of 2026, compared with NOK 2 148 million in the previous quarter and NOK 2 735 million in the third quarter of 2025. Consolidated profit The group’s operating profit before tax year to date amounted to NOK 6 264 million, a decrease of NOK 92 million compared with the same period last year. The reduction in earnings was attributable to a NOK 386 million decrease in net interest income, reflecting weaker net interest margin. Net commission and other income increased by NOK 34 million, mainly driven by higher commission income from the real estate agency, payment facilites and insurance. Income from ownership interests increased by NOK 34 million and contributed positively to operating profit, while lower income from financial instruments had a negative impact on earnings. Operating expenses amounted to NOK 3 788 million year to date, a decrease of NOK 222 million compared with the same period last year. The operating expenses in 2025 include the following one-off items: merger costs of NOK 168 million and NOK 74 million related to the court ruling in the case against Tietoevry Norway AS. Corrected for these one-off items, costs increased by NOK 20 million (0.5%). The cost development reflects the realisation of merger synergies and the impact of organisational changes. The group’s cost to income was 37.0% year to date, compared with 37.9% for the same period last year. Impairments on loans and financial commitments amounted to NOK 197 million year to date, compared with NOK 215 million for the same period last year. Impairments on loans and financial commitments are primarily linked to individual impairments. The group’s return on equity after tax year to date was 12.6% (13.5% adjusted for goodwill from the merger) compared with 13.1% for the same period last year. Important events On 28 July 2026, SpareBank 1 Sør-Norge ASA announced a share buy-back programme for up to 1% of the company’s own shares. At the end of the quarter, 1 269 116 shares had been repurchased in the market, corresponding to 0.34% of outstanding shares. SpareBank 1 Sør-Norge ASA has sold 55.2% of its shares in SpareBank 1 Sør-Norge Forretningspartner AS to a company controlled by ECIT AS. The Bank retains a 44.8% ownership interest and will continue its strategic partnership with the company. The transaction contributed NOK 80 million to profit in the third quarter of 2026. Following Norges Bank’s decision in the third quarter to increase the policy rate by 0.25 percentage points to 4.50%, SpareBank 1 Sør-Norge ASA raised mortgage and deposit rates by up to 0.25 percentage points. Regulatory changes In September, the Financial Supervisory Authority of Norway proposed to maintain the current risk-weight floors of 25% for residential mortgages and 35% for commercial real estate exposures. The final levels will be determined by the Ministry of Finance during the fourth quarter. At its meeting on 12 August 2026, the Monetary Policy and Financial Stability Committee of Norges Bank decided to maintain the countercyclical capital buffer requirement at 2.5%. 7 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Loans and deposits from customers In the following, growth figures for the third quarter of 2026 are compared with pro-forma growth figures for previous periods. Gross lending amounted to NOK 443 billion, including loans sold to the credit institutions at the end of the third quarter of 2026 (NOK 415 billion). Gross lending growth in the past 12 months was 6.7% (4.4%). In the past 12 months, Retail Market (incl. loans to employees) and Corporate Market have seen lending growth of 7.0% and 6.5%, respectively. Loans to the Retail Market accounted for 66.9% of total loans at the end of the third quarter of 2026 (66.7%). The Group’s total exposure at default (EAD) of NOK 492 billion includes a majority of exposures with a probability of default of less than 0.5%. These commitments accounted for 67.2% (66.8%) of the portfolio. The overall loan portfolio largely consists of exposures of less than NOK 10 million. These accounted for 65.4% (66.1%) of loan exposure and 97.4% (97.6%) of customers. Of the total loan exposure, 20.8% (20.0%) was to customers with exposures in excess of NOK 100 million. Deposits from customers amounted to NOK 249 billion at the end of the third quarter of 2026 (NOK 223 billion). Deposit growth was 11.6% in the past 12 months (9.7%), adjusted for public sector deposits, the underlying deposit growth was 8.3%. Retail Market and Corporate Market reported deposit growth of 6.7% and 16.3%. At the end of the third quarter of 2026, deposits in Retail Market accounted for 53.2% (55.6%) of the Group’s deposits. Deposit coverage, including loans sold to the credit institutions, was 56.3% at the end of the third quarter of 2026 (53.9%). Business areas SpareBank 1 Sør-Norge ASA is divided into different business areas, which are defined on the basis of their form of distribution, products and customers. The reporting format is based on the risk and return profile of the assets and is split into Retail Market, Corporate Market and significant subsidiaries. Retail Market’s income statement and balance sheet items include figures from SR- Boligkreditt AS and SpareBank 1 Boligkreditt AS. Retail market 2 Retail Market, including loans to employees, reported a pre- tax profit of NOK 915 million for the third quarter of 2026, compared with NOK 855 million in the previous quarter. Table 5, Retail Market Q3 26 Q2 26 Net interest income 847 782 Net commission and other income 314 303 Net income on financial investments 9 11 Total income 1 170 1 096 Operating expenses 246 241 Operating profit before impairments 924 855 Impairments on loans and financial commitments 9 0 Pre-tax profit 915 855 Net interest income increased by NOK 64 million from the previous quarter, mainly due to changes in customer interest rates and lending growth. Commission and other income increased by NOK 11 million, primarily driven by higher income from payment facilities. In the third quarter of 2026, NOK 9 million was recognised as impairments on loans and financial commitments. The lending volume in the division was NOK 296 billion at the end of the third quarter of 2026. Demand for loans in the Retail Market remains strong. Lending has grown by 7.0% in the past 12 months. On a national basis, the 12-month growth figure for Norwegian household debt was 4.6% at the end of August. The deposit volume was NOK 132 billion at the end of the third quarter of 2026, corresponding to a 12-month growth of 6.7%. The quality of the Retail Market portfolio is considered very good and the potential for losses low. The proportion of loan exposure within 85% of the loan to value ratio was 91.0% at end of the third quarter of 2026 (91.9%). 2 The interest on intracompany receivables for Retail Market and Corporate Market is fixed based on expected observable market interest rates (NIBOR) plus expected additional costs for the group’s long-term funding (credit premium). Deviations between the group’s actual funding costs and the applied interest on intercompany receivables are eliminated at the group level. 8 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Corporate Market 2 Corporate Market reported a pre-tax profit of NOK 1 035 million for the third quarter of 2026, compared with NOK 1 021 million for the previous quarter. Table 6, Corporate market Q3 26 Q2 26 Net interest income 1 032 982 Net commission and other income 163 167 Net income on financial investments 31 37 Total income 1 227 1 186 Operating expenses 116 110 Operating profit before impairments 1 110 1 076 Impairments on loans and financial commitments 76 54 Pre-tax profit 1 035 1 021 Net interest income increased by NOK 50 million, mainly as a result of higher lending volumes. Other income decreased moderately due to seasonally lower activity. In the third quarter of 2026, NOK 76 million was recognised as impairments on loans and financial commitments, mainly due to individual losses. The lending volume in the division amounted to NOK 148 billion at the end of the third quarter of 2026. Lending growth for the last 12 months adjusted for currency effects was 7.2%. The deposit volume was NOK 117 billion, corresponding to growth in the past 12 months of 16.3%, adjusted for deposits in the public sector the growth was 9.5%. The quality of the Corporate Market portfolio is considered good. The proportion of exposures with a probability of default of less than 2.5% through a full loss cycle was 88.7% of the portfolio at the end of the third quarter of 2026 (88.2%). The property sector portfolio represents The Group’s largest concentration in a single sector and accounted for 12.6% (12.2%) of total loan exposure. A large portion of this portfolio consists of financing commercial properties for leasing. Subsidiaries EiendomsMegler 1 Sør-Norge AS The company reported revenue of NOK 261 million for the third quarter of 2026, compared to NOK 302 million for the previous quarter. The profit before tax decreased from NOK 69 million to NOK 3 million. The development was mainly driven by seasonal factors. Compared with the third quarter of 2025, profit before tax decreased by NOK 11 million, due to higher costs related to increased focus in Bergen and Oslo. The company is the third-largest market participant in real estate brokerage in Southern Norway. SR-Boligkreditt AS The company’s purpose is to purchase residential mortgages from SpareBank 1 Sør-Norge ASA, and it funds this by issuing covered bonds. SR-Boligkreditt AS enables the parent company to diversify and optimise its funding. Moody’s has given SR-Boligkreditt AS its best rating, Aaa. At the end of the third quarter of 2026, the company had issued covered bonds with a value of NOK 126 billion (NOK 123 billion) and bought loans worth NOK 138 billion (NOK 122 billion) from SpareBank 1 Sør-Norge ASA. The company reported a profit before tax of NOK 228 million for the third quarter of 2026, compared with NOK 126 million for the previous quarter and NOK 351 million for the third quarter of 2025. High volatility in the results due to large fluctuations in the market value of basisswaps. FinStart Nordic AS FinStart Nordic AS is an investment company that has contributed to the development and growth of innovative fintech companies. The company also manages an existing investment portfolio inherited from a former subsidiary, primarily comprising investments related to the oil and energy sector. Going forward, FinStart Nordic AS will focus on extracting value from its existing portfolios. Profit before tax amounted to NOK -0.2 million in the third quarter of 2026, compared with NOK -2 million in the previous quarter and NOK 3 million for the third quarter of 2025. 9 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Associated companies SpareBank 1 Sør-Norge ASA’s profit contributions from associated companies are incorporated using the equity method. These amounted to NOK 232 million for the third quarter of 2026, compared with NOK 324 million for the previous quarter and NOK 266 million for the third quarter of 2025. SpareBank 1-alliansen The SpareBank 1 Alliance is Norway’s second largest financial group and is a banking and product partnership in which the SpareBank 1 banks in Norway cooperate in order to keep them strong and independent. The purpose of the Alliance is to procure and provide competitive financial services and products, and to exploit economies of scale in the form of lower costs and/or higher quality. The Alliance is run through its ownership and participation in SpareBank 1 Utvikling DA, while the development and operation of product companies are organised through the banks’ ownership of the holding company SpareBank 1 Gruppen AS. SpareBank 1 Gruppen AS SpareBank 1 Gruppen AS owns 100% of the shares in SpareBank 1 Forsikring AS, SpareBank 1 Factoring AS, and SpareBank 1 Spleis AS. SpareBank 1 Gruppen AS also owns 51% of the shares in Fremtind Holding AS, 69% of the shares in Kredinor AS, and 49% of the shares in LO Favør AS. Spare - Bank 1 Gruppen AS and Kredinorstiftelsen have entered into an agreement for the sale of Kredinor AS. The transaction is expected to be completed in January 2027, subject to the necessary regulatory approvals. SpareBank 1 Sør-Norge ASA owned a 19.5% stake in SpareBank 1 Gruppen AS. SpareBank 1 Gruppen AS reported a profit after tax of NOK 1 385 million in the third quarter of 2026, compared with NOK 1 592 million in the previous quarter and NOK 1 292 mil - lion in the third quarter of 2025. The majority’s share for the third quarter of 2026 amounted NOK 732 million, compared with NOK 893 million in the previous quarter and NOK 697 million in the third quarter of 2025. The decrease compared with the previous quarter was primarily driven by weaker financial result. SpareBank 1 Utvikling DA SpareBank 1 Utvikling DA delivers business platforms and common management and development services to the Alliance banks. The company contributes to joint activities that provide the banks with benefits in the form of economies of scale and expertise. The company also owns and manages the Alliance’s intellectual property rights under a common brand name, SpareBank 1. SpareBank 1 Sør-Norge ASA owned a 18.0% stake in SpareBank 1 Utvikling DA. SpareBank 1 Forvaltning AS SpareBank 1 Forvaltning AS delivers products and services designed to streamline and simplify savings for its customers. SpareBank 1 Forvaltning AS is a licensed investment firm and owns 100% of the shares in the subsidiary ODIN Forvaltning. SpareBank 1 Forvaltning AS is owned by the SpareBank 1 Alliance and the Norwegian Confederation of Trade Unions (LO). SpareBank 1 Sør-Norge ASA’s stake is 42.6%. SpareBank 1 Forvaltning AS reported a profit after tax of NOK 64 million for the third quarter of 2026, compared with NOK 81 million for the previous quarter and NOK 66 million for the third quarter of 2025. The decrease compared with the previous quarter was primarily driven by restructuring costs. BN Bank ASA BN Bank ASA is a nationwide bank with its head office in Trondheim. The bank is owned by the banks in the SpareBank 1 Alliance. SpareBank 1 Sør-Norge ASA’s stake is 42.5%. BN Bank ASA reported a profit after tax of NOK 159 million in the third quarter of 2026, a decrease of NOK 51 million from the previous quarter. The decrease was mainly attributable to dividend received from SpareBank 1 Boligkreditt AS in the second quarter and higher impairment losses. The profit after tax for the third quarter of 2025 was NOK 210 million. The return on equity after tax was 10.0% compared with 14.0% for the previous quarter and 12.4% for the third quarter of 2025. SB1 Markets AS SB1 Markets AS is a leading Norwegian investment bank offering services within equity and credit analysis and trading in equities and bonds, as well as services within corporate finance, including raising capital in the equity and debt market, mergers and acquisitions, restructuring and advisory. SpareBank 1 Sør-Norge ASA’s stake is 28.1%. SB1 Markets AS reported profit after tax of NOK 7 million in the third quarter of 2026, compared with NOK 32 million in the previous quarter. The decrease was primarily driven by seasonal factors. Compared with the third quarter of 2025, profit decreased by NOK 25 million. Despite strong income growth, profitability was impacted by higher costs associated with operations in Sweden. Kredittbanken ASA Kredittbanken ASA is owned by the SpareBank 1 banks and the Eika Alliance, where SpareBank 1 Sør-Norge ASA’s stake is 22.6%. The company offers unsecured financing to the retail market and offers credit cards and repayment. The company reported a profit after tax of NOK 8 million in the third quarter of 2026, compared with NOK 36 million in the previous quarter and NOK 17 million in the third quarter of 2025. The decrease in profits was mainly due to higher losses. 10 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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The total portfolio in the company was NOK 14 billion at the end of the third quarter of 2026, compared with NOK 13 billion at both the end of the previous quarter and the end of the third quarter of 2025. SpareBank 1 Betaling AS The SpareBank 1 banks jointly own SpareBank 1 Betaling AS. SpareBank 1 Sør-Norge ASA’s stake is 26.2%. SpareBank 1 Betaling AS owns a 25.0% stake in Vipps Holding AS. SpareBank 1 Betaling AS reported a profit after tax of NOK 2 million in the third quarter of 2026, compared with NOK 76 million in the previous quarter and NOK 10 million in the third quarter of 2025. The decrease in profit was mainly due to extraordinary income recognised by Vipps Holding AS in the second quarter of 2026. ECIT Forretningspartner AS In the third quarter of 2026, SpareBank 1 Sør-Norge ASA sold 55.2% of its shares in SpareBank 1 Sør-Norge Forretningspartner AS, now ECIT Forretningspartner AS, to a company controlled by ECIT AS. The transaction resulted in a gain of NOK 80 million. Following the transaction, SpareBank 1 Sør-Norge ASA retains a 44.8% ownership interest. ECIT Forretningspartner AS is one of Norway’s largest providers of accounting and advisory services. For more information about the accounts of the various companies, please refer to their quarterly reports, which are available on the websites of the various companies. Funding and liquidity SpareBank 1 Sør-Norge ASA has a solid liquidity position at the end of the third quarter of 2026 and expects to maintain good access to long-term funding at competitive prices. The Group strives for a balanced maturity profile for funding and emphasises strong relations with Norwegian and international investors and banks. The liquidity buffer 3 was NOK 86.9 billion at the end of the third quarter of 2026 and would cover normal operations for 17 months in the event of closed markets and without net lending growth. The bank’s external funding maturities over the next 12 months amount to NOK 60 billion. In addition to the liquidity buffer, the bank has NOK 83 billion in residential mortgages ready for covered bond funding. Over the past 12 months, the Group has maintained a high proportion of long-term funding. The Group’s net stable funding ratio (NSFR) 4 was 125% at the end of the third quarter of 2026, which confirms the Group’s good funding situation. SpareBank 1 Sør-Norge ASA has an Aa3 (stable) long-term rating and a P-1 short-term rating from Moody’s. SpareBank 3 Liquidity buffer: cash, short-term investments, and drawing rights in Norges Bank (bonds, including covered bonds). Assuming deposits and lending remain unchanged and no new borrowing during the period. 4 NSFR is calculated in accordance with guidelines from the Financial Supervisory Authority of Norway and is calculated as available stable funding relative to necessary stable funding. 1 Sør-Norge ASA’s has in addition a A1 short-term rating from S&P. Capital ratio At the end of the third quarter of 2026, the CET1 capital ratio was 17.70%, and the capital adequacy ratio was 21.79%. The capital adequacy ratio includes the effect of the share buyback programme covering up to 1.0% of the bank’s outstanding share. This exceeds the current CET1 capital ratio requirement of 16.71% and the capital adequacy requirement of 20.82%. The total requirement for CET1 capital ratio includes a Pillar 2 guidance of 1.0%. EU’s crisis management directive and MREL Based on the EU Crisis Management Directive (BRRD), the Group must meet a minimum requirement for own funds and eligible liabilities (MREL). SpareBank 1 Sør-Norge ASA has an effective MREL requirement of 37.2% of the adjusted risk-weighted assets. In addition, subordinated capital and non-preferred liabilities must account for at least 29.3%. At the end of the third quarter of 2026, SpareBank 1 Sør-Norge ASA satisfies the subordination requirement by a good margin. 11 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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The bank’s share The price of the bank’s share (SB1NO) was NOK 226.50 at the end of the third quarter of 2026. This results in an effective return of 27.0% since year end 2025. The Oslo Børs’s main index increased by 22.9% in the corresponding period (not corrected for dividends). The trading volume in SB1NO in the third quarter of 2026 amounted to 2.8% of outstanding shares (2.5%). There were 23 050 shareholders of SB1NO at the end of the third quarter of 2026 (22 791). The proportion held by companies and people abroad was 18.1% (16.8%); the 20 largest holders owned a total of 63.7% (63.0%). The bank held 1 222 731 treasury shares, while group employees owned 1.5% (1.5%). The table below lists the 20 largest shareholders as at 30.09.2026: Table 8, 20 largest shareholders Number of shares (1,000) % Sparebankstiftelsen SR-Bank 78 677 21,2 % SpareBank 1 Stiftelsen BV 32 667 8,8 % Sparebankstiftelsen Telemark 25 034 6,7 % Folketrygdfondet 23 769 6,4 % Sparebankstiftelsen Modum 15 624 4,2 % Swedbank AB 7 507 2,0 % SpareBank 1-stiftinga Kvinnherad 6 527 1,8 % Sparebankstiftelsen Nøtterøy-Tønsberg 5 263 1,4 % Sparebankstiftelsen Nome 4 949 1,3 % Citibank N.A. Irland 4 752 1,3 % Skandinaviska Enskilda Banken AB 4 323 1,2 % J.P.Morgan SE, Luxembourg 4 120 1,1 % State Street Bank and Trust Co, U.S.A. 3 639 1,0 % Verdipapirfondet KLP AksjeNorge 3 029 0,8 % JPMorgan Chase Bank, N.A., London 3 017 0,8 % Verdipapirfondet Alfred Berg Gambak 2 983 0,8 % Pareto Aksje Norge Verdipapirfond 2 894 0,8 % Verdipapirfondet DNB Norge Indeks 2 799 0,8 % J.P.Morgan SE, Luxembourg 2 725 0,7 % State Street Bank and Trust Co, U.S.A. 2 522 0,7 % Total 20 largest 236 820 63,7 % The Group has a special share savings scheme for the Group’s employees. All permanent employees have an opportunity to purchase shares for a specified savings amount, limited to a maximum of NOK 5,000 per employee per month, at a 30% discount and with a lock-in period of 2 years. Around 75% of the Group’s employees have signed a regular savings agreement for the share savings scheme in 2026. Sustainable development Norway’s Climate Change Act establishes the country’s 2030 climate targets under the Paris Agreement and the objective of becoming a low-emission society by 2050. SpareBank 1 Sør-Norge ASA contributes to this transition through capital allocation, lending, and ongoing engagement with the customers and industries it finances. For material industries measured by lending volume, greenhouse gas emissions, and energy consumption as well as for the group’s own operations, specific emission pathways have been adopted with emission trajectories toward 2050. The Group is continuing to refine its emissions pathways, strengthen data quality and analytical capabilities, and establish targets and monitoring mechanisms across additional parts of the portfolio. Capital allocation is the Group’s most important contribution to the climate transition. Accordingly, a target has been set to increase the share of lending that qualifies under the Group’s Sustainable Finance Framework to 25% by 2030. Synergies Total cost synergies from the merger and the establishment of SpareBank 1 Sør-Norge ASA are estimated to be NOK 550 million annually from and including 2027. The Group remains on track with respect to realising funding, operating and cost synergies. 12 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Outlook The Norwegian economy has remained resilient through a period of high inflation and tight monetary policy. Activity in the mainland economy has continued to expand, and employment has increased, although capacity utilisation is now considered to be somewhat below a normal level. Norges Bank raised the policy rate from 4.25% to 4.50% in September 2026, following an unchanged rate through the summer. Inflation remains well above the 2% target, although underlying inflation has eased. Norges Bank expects that the policy rate will likely need to remain at its current level for some time. SpareBank 1 Sør-Norge’s Business Survey for autumn 2026 indicates that growth expectations among businesses have weakened. Businesses continue to expect some growth and an increase in employment, although optimism has weakened. Manufacturing and oil and gas-related activities are contributing positively, while the outlook for the construction sector remains challenging. Figures and forecasts from Statistics Norway point to moderate growth in the Norwegian economy and some increase in unemployment. At the same time, continued wage growth is helping to support household purchasing power. The global outlook remains characterised by moderate growth and considerable uncertainty. Geopolitical tensions and higher oil, gas and other commodity prices are adding to uncertainty surrounding the inflation outlook, while market interest rates have risen both globally and in Norway. The Group’s financial objectives and ambitions are as follows: • The Group’s long-term financial target for the return on equity is higher than 14% and to be among the top three comparable financial groups in Norway. This will be achieved through profitable growth in lending and other income, cost and capital efficiency and realisation of synergies. • The Group’s long-term target for the cost to income ratio is below 35%. • Based on the authorities’ CET1 capital ratio requirements and the Pillar 2 guidance, the Group’s CET1 capital ratio target is a minimum of 16.71%. • The Group’s dividend policy is to distribute approximately 50% in cash dividend of the profit for the year. The Group has established a share buyback program as a supplement to cash dividends. Dividend decisions are made with due consideration for the Group’s financial needs, capital adequacy and strategic targets. The board is of the opinion that the drivers of structural changes within the savings bank sector remain present and intends to address these with a proactive approach. The Group’s objective is to ensure long-term value creation for customers, employees, shareholders and local communities. A strong collaboration between residents, businesses, and the bank is crucial for development in the Group’s market area. The board will prioritize continuing this strong collaboration. Stavanger, 28 October 2026 The board of Directors of SpareBank 1 Sør-Norge ASA 13 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited REPORT OF THE BOARD OF DIRECTORS
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Income statement Parent bank Group 01.01 - 30.09 01.01 - 30.09 2025 2025 2026 Q3 2025 Q3 2026 Income statement (MNOK) Note Q3 2026 Q3 2025 2026 2025 2025 17 881 13 545 13 130 4 515 4 677 Interest income using effective interest method 6 346 6 113 17 856 18 136 23 970 3 483 2 653 2 654 896 920 Other interest income 880 876 2 549 2 656 3 458 13 100 10 002 9 830 3 343 3 542 Interest expense 4 990 4 661 13 843 13 843 18 157 8 263 6 197 5 955 2 068 2 055 Net interest income 2 237 2 328 6 562 6 948 9 271 1 964 1 443 1 492 497 521 Commission income 808 811 2 557 2 518 3 370 154 115 127 41 45 Commission expenses 45 41 127 115 154 26 21 28 9 8 Other operating income 8 8 28 20 25 1 836 1 349 1 393 465 484 Net commission and other income 771 778 2 457 2 423 3 241 853 853 2 169 95 0 Income from ownership interests 11 232 266 749 715 997 364 334 431 81 225 Net gains/losses on financial instruments 11 230 177 481 494 532 1 218 1 187 2 600 176 225 Net income on financial investments 462 443 1 230 1 210 1 528 11 317 8 733 9 948 2 709 2 763 Total income 3 470 3 549 10 249 10 581 14 040 2 188 1 640 1 644 552 534 Salaries and other personnel expenses 768 796 2 384 2 369 3 198 1 584 1 210 963 386 299 Other operating expenses 379 459 1 217 1 465 1 905 202 147 165 50 56 Depreciation and impairment of fixed and intangible assets 61 59 187 176 237 3 974 2 997 2 773 989 890 Total operating expenses 1 208 1 314 3 788 4 010 5 340 7 342 5 736 7 175 1 720 1 874 Operating profit before impairment 2 262 2 235 6 461 6 571 8 701 381 233 197 116 84 Impairment losses on loans and financial commitments 3, 4 85 115 197 215 352 6 961 5 503 6 978 1 604 1 790 Pre-tax profit 10 2 177 2 120 6 264 6 356 8 349 1 403 1 055 1 069 357 378 Tax expense 420 423 1 231 1 254 1 655 5 558 4 448 5 909 1 248 1 412 Profit after tax 1 757 1 697 5 034 5 102 6 694 5 229 4 186 5 672 1 162 1 325 Shareholders’ share of the profit 1 671 1 612 4 796 4 840 6 365 329 262 237 85 86 Hybrid capital owners’ share of the profit 86 85 237 262 329 5 558 4 448 5 909 1 248 1 412 Profit after tax 1 757 1 697 5 034 5 102 6 694 Earnings per share (group) 4,51 4,29 12,95 12,89 16,98 Other comprehensive income -3 0 0 0 0 Unrecognised actuarial gains and losses 0 0 0 0 -3 1 0 0 0 0 Deferred tax concerning changed estimates/pension plan changes 0 0 0 0 1 -2 0 0 0 0 Total items not reclassified through profit or loss 0 0 0 0 -2 -0 6 1 2 1 Change in ECL 12 months 1) 0 0 0 0 0 Basis swap spread 35 53 22 127 123 Deferred tax concerning basis swap spread -9 -13 -5 -32 -31 Share of profit associated companies and joint ventures 1 -0 3 4 9 -0 6 1 2 1 Total items reclassified through profit or loss 27 39 20 99 101 -3 6 1 2 1 Other comprehensive income 27 39 20 99 99 5 556 4 454 5 910 1 249 1 413 Total comprehensive income 1 784 1 736 5 053 5 202 6 793 1) ECL - Expected credit loss 14 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Balance sheet Parent bank Group 31.12.25 30.09.25 30.09.26 Balance sheet (MNOK) Note 30.09.26 30.09.25 31.12.25 121 785 4 105 Cash and balances with central banks 4 105 785 121 17 348 24 828 27 271 Balances with credit institutions 1) 18 655 17 556 13 864 278 133 270 672 293 663 Loans to customers 4, 6, 10 431 720 392 208 395 926 81 554 75 585 79 524 Certificates and bonds 76 533 73 554 79 512 8 046 8 497 11 504 Financial derivatives 1) 8 4 041 3 551 3 227 1 942 2 057 1 284 Shares, ownership stakes and other securities 13 1 607 2 286 2 173 5 008 5 009 5 322 Investment in associates 8 527 8 329 8 648 9 696 8 699 10 464 Investment in subsidiaries 0 0 0 3 569 3 569 3 569 Intangible assets 3 795 4 071 4 091 1 898 2 287 1 900 Deferred tax assets 1 907 2 407 1 897 589 621 583 Fixed assets 1 165 1 273 1 240 1 091 1 021 1 134 Right-of-use assets 523 443 515 1 306 651 1 674 Other assets 2 172 1 304 1 838 410 300 404 282 441 998 Total assets 554 749 507 768 513 054 6 026 11 856 12 022 Balances with credit institutions 1) 5 403 4 166 4 331 231 725 223 883 249 567 Deposits from customers 5, 10 249 099 223 294 231 112 72 787 67 728 86 754 Debt securities issued 9 207 395 186 197 182 906 16 980 18 952 14 253 Financial derivatives 1) 8 9 694 7 815 7 106 1 005 1 049 1 081 Taxes payable 1 243 1 280 1 167 1 172 1 094 1 235 Lease liabilities 566 468 546 424 430 427 Pension liabilities 434 437 431 49 109 112 Impairment on financial commitments 4 112 110 50 1 106 1 204 860 Other liabilities 1 130 1 686 1 522 22 612 22 481 19 210 Senior non-preferred bonds 9 19 210 22 481 22 612 5 776 5 774 5 534 Subordinated loan capital 9 5 534 5 774 5 776 359 661 354 559 391 054 Total liabilities 499 820 453 708 457 558 9 386 9 386 9 293 Share capital 9 293 9 386 9 386 14 719 14 719 14 719 Premium reserve 14 719 14 719 14 719 4 000 4 000 4 000 Hybrid capital 4 000 4 000 4 000 22 534 21 618 22 933 Other equity 26 918 25 955 27 391 50 639 49 723 50 944 Total equity 54 929 54 060 55 496 410 300 404 282 441 998 Total liabilities and equity 554 749 507 768 513 054 1) Collateral related to financial derivatives has been reclassified to the line items “Balances with credit institutions”. Comparative figures have been restated accordingly. 15 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Statement of changes in equity Share- capital Premium reserve Hybrid- capital Other equity Total equitySpareBank 1 Sør-Norge Parent bank (MNOK) Equity as at 31.12.24 9 386 14 719 4 300 20 608 49 013 Profit after tax 262 4 186 4 448 Change in ECL 12 months 6 6 Total comprehensive income 262 4 192 4 454 Issued hybrid capital 400 400 Repayments in debt established by issuing hybrid capital -700 -700 Interest on hybridcapital -262 -262 Dividend 2024, resolved in 2025 (NOK 8.50 per share) -3 191 -3 191 Net purchase of own shares (incl share buy-back programme) 10 10 Transactions with shareholders -3 182 -3 182 Equity as at 30.09.25 9 386 14 719 4 000 21 618 49 723 Equity as at 31.12.25 9 386 14 719 4 000 22 534 50 639 Profit after tax 237 5 672 5 909 Change in ECL 12 months 1 1 Total comprehensive income 237 5 673 5 910 Interest on hybridcapital -237 -237 Other equity transactions -11 -11 Dividend 2025, resolved in 2026 (NOK 12.00 per share) -4 460 -4 460 Net purchase of own shares (incl share buy-back programme) -94 -803 -897 Transactions with shareholders -94 -5 263 -5 357 Equity as at 30.09.26 9 293 14 719 4 000 22 933 50 944 Share- capital Premium reserve Hybrid- capital Value of basis swap defined as hedging instrument Other equity Total equitySpareBank 1 Sør-Norge Group (MNOK) Equity as at 31.12.24 9 386 14 719 4 300 -204 24 437 52 637 Profit after tax 262 4 840 5 102 Basisswap spread after tax 95 95 Share of profit associated companies and joint ventures 4 4 Total comprehensive income 262 95 4 844 5 202 Issued hybrid capital 400 400 Repayments in debt established by issuing hybrid capital -700 -700 Interest on hybridcapital -262 -262 Transactions against equity in subsidiaries and associated companies -35 -35 Dividend 2024, resolved in 2025 (NOK 8.50 per share) -3 191 -3 191 Net purchase of own shares (incl share buy-back programme) 10 10 Transactions with shareholders -3 182 -3 182 Equity as at 30.09.25 9 386 14 719 4 000 -109 26 064 54 060 Equity as at 31.12.25 9 386 14 719 4 000 -112 27 503 55 496 Profit after tax 237 4 796 5 034 Basisswap spread after tax 16 16 Share of profit associated companies and joint ventures 3 3 Total comprehensive income 237 16 4 800 5 053 Interest on hybridcapital -237 -237 Other equity transactions -11 -11 Transactions against equity in subsidiaries and associated companies -15 -15 Dividend 2025, resolved in 2026 (NOK 12.00 per share) -4 460 -4 460 Net purchase of own shares (incl share buy-back programme) -94 -803 -897 Transactions with shareholders -94 -5 263 -5 357 Equity as at 30.09.26 9 293 14 719 4 000 -96 27 013 54 929 16 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Cash flow statement Parent bank Group 01.01 - 30.09 01.01 - 30.09 2025 2025 2026 Cash flow statement (MNOK) 2026 2025 2025 -12 793 -5 449 -17 040 Change in gross lending to customers -36 901 -20 650 -24 238 27 414 15 452 13 844 Change in deposits from customers 13 990 15 307 27 228 8 935 7 624 -12 874 Change in receivables and debt from credit institutions -12 667 2 738 6 257 -20 679 -14 882 -833 Change in certificates and bonds 105 -12 729 -18 687 21 045 15 596 15 231 Interest receipts 19 875 20 319 27 035 -12 786 -5 415 -5 204 Interest payments -9 311 -9 352 -17 834 1 831 1 323 1 375 Commission receipts 2 463 2 400 3 236 867 1 238 136 Capital gains from sale of trading 104 1 263 894 -3 657 -2 783 -2 665 Payments for operations -3 711 -3 795 -5 026 -134 -96 -41 Lease payments -102 -59 -121 -1 020 -1 020 -973 Taxes paid -1 143 -1 178 -1 178 -396 1 665 525 Other net payments 375 2 327 2 011 8 627 13 254 -8 519 A Net change in liquidity from operations -26 923 -3 411 -422 -174 -150 -93 Investments in tangible fixed assets -101 -174 -208 80 17 47 Receipts from sale of tangible fixed assets 47 17 80 -2 057 -1 057 -1 413 Change in long-term investments in equities -396 -11 -49 543 473 1 096 Receipts from sales of long-term investments in equities 1 120 210 526 964 948 2 253 Dividends from long-term investments in equities 1 240 637 653 -645 232 1 891 B Net cash flow, investments 1 911 678 1 002 12 961 2 016 40 909 Debt raised by issuance of securities and senior non- preferred bonds 60 129 27 125 38 070 -18 753 -13 094 -25 270 Repayments - issued securities and senior non- preferred bonds -26 107 -21 984 -36 460 0 0 0 Additional subordinated loan capital issued 0 0 0 0 0 -195 Repayments - additional capital instruments -195 0 0 400 400 0 Issued hybrid capital 0 400 400 -700 -700 0 Repayments in debt established by issuing hybrid capital 0 -700 -700 -329 -262 -237 Interest payments on debt established by issuing hybrid capital -237 -262 -329 -110 10 -897 Net purchase of own shares (incl share buy-back programme) -897 10 -110 -3 191 -3 191 -4 460 Dividend to share holders -4 460 -3 191 -3 191 -9 722 -14 821 9 849 C Net cash flow, financing 28 233 1 397 -2 321 -1 741 -1 335 3 221 A+B+C Net cash flow during the period 3 221 -1 335 -1 741 3 173 3 173 1 433 Cash and cash equivalents as at 1 January 1 433 3 174 3 174 1 433 1 838 4 654 Cash and cash equivalents at the end of the period 4 654 1 839 1 433 Cash and cash equivalents specified 121 785 4 105 Cash and balances with central banks 4 105 785 121 1 312 1 053 549 Deposits with credit institutions with no agreed periode of notice 549 1 054 1 312 1 433 1 838 4 654 Cash and cash equivalents 4 654 1 839 1 433 The cash and cash equivalents includes cash and claims on central banks, plus the share of the total of claims on credit insti - tutions that pertains to placement solely in credit institutions. The cash flow statement shows cash provided and used by the parent bank and the group. 17 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Notes to the financial statements (figures in NOK million unless otherwise stated) Note 1 Accounting policies 1.1 Basis of preparation These interim financial statements for SpareBank 1 Sør-Norge ASA cover the period 1 January - 30 September 2026. The interim financial statements were prepared in accordance with IAS 34 Interim Financial Reporting. The interim financial statements are unaudited. These interim financial statements were prepared in accordance with the applicable IFRS® standards and IFRIC interpretations. The interim financial statements do not include all the information required for full annual financial statements and should be read in conjunction with the annual financial statements for 2025. New and revised standards not yet implemented : As of 1 January 2026, no new standards, amendments to standards, or interpretations that have a material impact on the financial statements of the Group or the parent company have been adopted New standards and interpretations that have not been adopted yet: IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 becomes effective on 1 January 2027 and replaces IAS 1. The standard primarily affects presentation and disclosures and is not expected to have a material effect on the Group’s financial performance or financial position. The statement of profit or loss will be restructured in accordance with the new operating, investing and financing categories. The most significant expected presentation change for the Group is that the share of profit from investments accounted for using the equity method will be presented in the investing category. These shares of profit are currently included in operating profit and amount to NOK 749 million year-to-date in 2026. The reclassification will therefore affect reported operating profit but will not affect the Group’s overall profit. IFRS 18 also introduces new disclosure requirements for management-defined performance measures (MPMs). The Group is assessing which performance measures used in public communications meet the definition of MPMs. Based on the assessments performed to date, the Group expects a limited number of performance measures to be subject to the new disclosure requirements. The standard also entails certain changes to the statement of financial position and the statement of cash flows. Implementation work will continue throughout 2026, including the necessary adjustments to financial reporting and the restatement of comparative information. Apart from IFRS 18, several new standards, amendments to standards and interpretations have been issued that are effective for future reporting periods. None of these are expected to have a material effect on the Group’s financial position, financial performance or disclosures. 18 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 2 Critical estimates and judgements concerning use of the accounting policies The preparation of the consolidated financial statements entails the group executive management making estimates, judgements and assumptions that affect the effect of the application of the accounting policies and thus the amounts recognised for assets, liabilities, income and costs. Note 3 of the annual financial statements for 2025 explains in more detail the use of critical estimates and judgements when applying the accounting policies. Impairments on loans The group’s assessment of critical estimates and judgements concerning the use of the accounting policies has not changed since 31.12.2025. The group conducts annual evaluation of its corporate market portfolio. High-risk exposures in the corporate market portfolio are evaluated on a quarterly basis. Loans to retail customers are subject to evaluation when they are more than 90 days past due; larger exposures in default are evaluated on a quarterly basis. The group’s risk classification systems are described under financial risk management in the annual report. The group carries out an impairment if there is objective evidence that can be identified for an individual exposure, and the objective evidence entails a reduction in future cash flows for servicing the exposure. Objective evidence may be default, bankruptcy, insolvency or other significant financial difficulties. Individual impairment provisions are calculated as the difference between the loan’s book (carrying) value and the present value of future cash flows based on the effective interest rate at the time of the calculation of the initial individual impairment. Account is taken of subsequent changes in interest rates for loan agreements with variable rates if these changes affect the expected cash flow. For smaller exposures, the general rule is that the difference between the actual exposure at the time of impairment and the realisation value (underabsorption) of the pledged collateral is written down, and that the impairment is based on one scenario. For larger exposures, the general rule is that the difference between the actual exposure and the bank’s assessment of the discounted value of the customer’s future cash flow is written down, and the impairment is based on four scenarios. According to IFRS 9, loss provisions are recognised for all exposures based on expected credit loss (ECL). The measurement of the provisions for expected losses on exposures that are not individually impaired depends on whether or not the credit risk has increased significantly since initial recognition. Upon initial recognition and when the credit risk has not increased significantly after initial recognition, provisions must be made for 12 months’ expected losses. If the credit risk has increased substantially after initial recognition, provisions must be made for expected losses over the entire lifetime. Expected credit loss is calculated on the basis of the present value of all cash flows over the remaining expected lifetime. Climate related issues are given increased attention in the credit assessments, and the related risks are first and foremost uncovered through the utilisation of an ESG-module in the credit related work. Climate-related risk is also taken into account in the assessment of individual impairments. A need for specific, climate related impairment provisions has so far not been deemed necessary. The scoring from the ESG-module is included in the stress test-model which is used, among other things, for the preparation of climate-related stress tests. Further development and clarifications regarding how expectations of climate related credit losses are to be included in the impairment provisions/IFRS 9-model are still needed. Also refer to note 6 in the annual financial statements for 2025. A probability weighted average is calculated for four different scenarios: an upside scenario, a base scenario, a sector crisis scenario and a stress scenario, respectively. The base scenario is based on the most recent edition of ”Monetary Policy Report”, and represents a normal business cycle. The upside scenario represents a period of economic growth with better macro economic prospects than the base scenario. The sector crisis scenario represents a sector- specific downturn period, involving geopolitical unrest. The stress scenario is linked to the group’s periodic internal capital adequacy assessment process (ICAAP) for a period of comprehensive economic decline. The scenarios are reviewed quarterly by an internal working group consisting of senior-level personnel and are adjusted if there are significant changes in the macroeconomic outlook. In the third quarter of 2026, some minor model improvements were implemented, which, together with macroeconomic environment and credit risk trends, contributed to a moderate increase in impairment charges. No changes were made to the scenario weighting in the third quarter of 2026. Total impairment charges on exposures without individual impairment have increased by NOK 30 million. This change should be seen in conjunction with exposures that were individually impaired during the period. The choice of scenarios and their weighting are regularly reviewed (at least once a year) by the aforementioned working group. As at 30 September 2026, the upside scenario had a 5% weighting, the base scenario had a 85% weighting, the adverse scenario had a 7,5% weighting, and the stress scenario had a weighting of 2,5%. The weighting is the same for all portfolios and reflects the uncertainty associated with economic developments going forward. In order to illustrate the associated weight sensitivity, a simulation of the effects of a more conservative scenario weighting was conducted in which the weight of the upside scenario is unchanged at 5%, base scenario was reduced to 75%, the adverse scenario were increased to 10,0% and the stress scenario were increased to 10,0% . Such a change in the scenario weighting would, all else equal, increase the group’s expected impairment losses for commitments without individual impairment by NOK 200 million. 19 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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(continued from Note 2 Sensitivity Calculations (NOK millions) Upside scenario Base scenario Sector crisis scenario Stress scenario Corporate market Retail market SR-Bolig- kreditt Not distributed Total Group Change in applied scenario Weights used as at 30.9.2026 ECL in Upside scenario 681 64 15 13 774 ECL in Base scenario 805 73 19 16 913 ECL in Sector crisis scenario 1 642 153 51 36 1 882 ECL in Stress scenario 2 775 284 128 67 3 253 ECL with applied scenario weighting 5,0 % 85,0 % 7,5 % 2,5 % 911 90 24 12 1 037 (current, used from third quarter of 2025) Alternative scenario weighting I 10,0 % 80,0 % 7,5 % 2,5 % 905 83 24 18 1 030 -7 Alternative scenario weighting II 5,0 % 80,0 % 12,5 % 2,5 % 953 88 25 19 1 086 48 Alternative scenario weighting III 5,0 % 80,0 % 10,0 % 5,0 % 981 91 27 20 1 120 83 Alternative scenario weighting IV 5,0 % 75,0 % 15,0 % 5,0 % 1 023 95 29 21 1 168 131 Alternative scenario weighting V 5,0 % 75,0 % 10,0 % 10,0 % 1 080 101 33 23 1 237 200 Weights used as at 30.6.2026 ECL in Upside scenario 632 60 14 14 720 ECL in Base scenario 794 68 18 17 897 ECL in Sector crisis scenario 1 502 149 49 40 1 740 ECL in Stress scenario 2 716 298 134 84 3 232 ECL with applied scenario weighting 5,0 % 85,0 % 7,5 % 2,5 % 885 88 23 11 1 007 (current, used from third quarter of 2025) Alternative scenario weighting I 10,0 % 80,0 % 7,5 % 2,5 % 879 79 23 20 1 001 -6 Alternative scenario weighting II 5,0 % 80,0 % 12,5 % 2,5 % 922 83 24 22 1 051 44 Alternative scenario weighting III 5,0 % 80,0 % 10,0 % 5,0 % 953 87 26 23 1 089 82 Alternative scenario weighting IV 5,0 % 75,0 % 15,0 % 5,0 % 988 91 28 24 1 131 124 Alternative scenario weighting V 5,0 % 75,0 % 10,0 % 10,0 % 1 049 98 32 26 1 205 198 Closely monitoring customers and prevention work are important measures actively employed by the group to maintain its good risk profile in the group’s loan portfolio. Fair value of financial derivatives and other financial instruments The fair value of derivatives is determined using valuation methods where the price of the underlying instrument, for example, interest rate or currency rate, is obtained from the market. When measuring financial instruments for which observable market data is not available, the group makes assumptions regarding what market actors would base their valuation on for equivalent financial instruments. Valuations require extensive use of discretion, including when calculating liquidity risk, credit risk and volatility. Any change in the aforementioned factors will affect the fair value determined for the group’s financial instruments. For more information see note 25 on the classification of financial instruments in the annual financial statements for 2025. In the case of options, volatility will be either observed implicit volatility or calculated volatility based on historical price movements for the underlying object. The group’s assessments of critical estimates and judgements regarding its use of accounting policies are challenging but are currently considered to be the best estimate 20 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 3 Impairments on loans and financial commitments recognised in the income statement Parent Bank Group 01.01 - 30.09 01.01 - 30.09 2025 2025 2026 Q3 2025 Q3 2026 Q3 2026 Q3 2025 2026 2025 2025 75 5 -86 18 35 Change in impairments on loans 36 18 -86 -13 46 -58 1 74 9 -5 Change in impairments on financial commitments -5 9 74 1 -58 487 321 296 167 63 Actual loan losses on commitments 63 167 296 321 487 20 9 7 2 -2 Change in accrued interest -2 2 7 9 20 0 0 -1 1 -1 Change in assets taken over for the period -1 1 -1 0 0 -144 -103 -93 -81 -7 Recoveries on commitments previously written-off -7 -81 -93 -103 -144 381 233 197 116 84 Total impairments on loans and financial commitments 85 115 197 215 352 21 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 4 Impairment provisions on loans and financial commitments recognised in the balance sheet Parent Bank 2026 Impairment provisions on loans and financial commitments 01.01.26 Changes in impairment provisions on loans Changes in impairment provisions on financial commitments Total 30.09.26 Impairment provisions after amortised cost, Corporate market 1 448 -140 57 1 364 Impairment provisions after amortised cost, Retail market 130 -32 5 102 Mortgages at FVOCI 1) 54 18 73 Total impairment provisions on loans and financial commitments 1 631 -154 62 1 539 Presented as Impairment provisions on loans 1 582 -154 1 427 Impairment provisions on financial commitments 49 62 112 Total impairment provisions on loans and financial commitments 1 631 -154 62 1 539 2025 Impairment provisions on loans and financial commitments 01.01.25 Total 30.09.25 Impairment provisions after amortised cost, Corporate market 1 368 55 5 1 428 Impairment provisions after amortised cost, Retail market 112 5 -4 113 Home mortgages at FVOCI 1) 149 -62 87 Total impairment provisions on loans and financial commitments 1 629 -1 0 1 628 Presented as Impairment provisions on loans 1 520 -1 1 519 Impairment provisions on financial commitments 109 0 109 Total impairment provisions on loans and financial commitments 1 629 -1 0 1 628 Group 2026 Impairment provisions on loans and financial commitments 01.01.26 Changes in impairment provisions on loans Changes in impairment provisions on financial commitments Total 30.09.26 Impairment provisions after amortised cost, Corporate market 1 448 -140 57 1 364 Impairment provisions after amortised cost, Retail market 220 -27 5 199 Mortgages at FVOCI 1) -14 14 0 Total impairment provisions on loans and financial commitments 1 654 -154 62 1 563 Presented as Impairment provisions on loans 1 605 -154 1 451 Impairment provisions on financial commitments 50 62 112 Total impairment provisions on loans and financial commitments 1 654 -154 62 1 563 2025 Impairment provisions on loans and financial commitments 01.01.25 Total 30.09.25 Impairment provisions after amortised cost, Corporate market 1 368 55 5 1 428 Impairment provisions after amortised cost, Retail market 327 -75 -4 248 Home mortgages at FVOCI 1) -14 0 0 -14 Total impairment provisions on loans and financial commitments 1 681 -20 1 1 662 Presented as Impairment provisions on loans 1 572 -20 1 552 Impairment provisions on financial commitments 109 1 110 Total impairment provisions on loans and financial commitments 1 681 -20 1 1 662 1) FVOCI - Fair value other comprehensive income 22 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Parent Bank Impairment provisions on loans per stage 01.01 - 30.09 2026 01.01 - 30.09 2025 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Impairment provisions on loans 01.01 310 482 789 1 582 294 551 674 1 520 Changes 01.01 - 30.09 Transfer to (from) stage 1 -22 22 0 0 -28 25 3 0 Transfer to (from) stage 2 167 -184 17 0 125 -147 22 0 Transfer to (from) stage 3 1 31 -33 0 1 6 -7 0 Net new measurement of impairment provisions -189 76 -30 -143 -126 118 69 61 New issued or purchased loan 139 64 64 267 81 60 25 165 Loans that have been derecognised -82 -103 -94 -278 -48 -138 -41 -228 Impairment provisions on loans 30.09 325 388 714 1 427 299 474 745 1 519 Impairment provisions on financial commitments per stage Impairment provisions on financial commitments 01.01. 23 9 18 49 45 48 15 109 Changes 01.01 - 30.09 Transfer to (from) stage 1 -2 2 0 0 -2 2 0 0 Transfer to (from) stage 2 3 -4 0 0 20 -21 1 -0 Transfer to (from) stage 3 0 0 -0 0 0 0 -0 0 Net new measurement of impairment provisions 9 26 -5 30 -24 19 4 -1 New issued or purchased loan 36 7 2 45 20 6 1 26 Loans that have been derecognised -8 -4 -1 -13 -14 -9 -2 -25 Impairment provisions on financial commitments 30.09 61 36 14 112 45 46 18 109 Group Impairment provisions on loans per stage 01.01 - 30.09 2026 01.01 - 30.09 2025 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Impairment provisions on loans 01.01 319 496 789 1 605 304 593 675 1 572 Changes 01.01 - 30.09 Transfer to (from) stage 1 -22 22 0 0 -28 25 3 0 Transfer to (from) stage 2 171 -188 17 0 135 -157 22 0 Transfer to (from) stage 3 1 31 -33 0 1 6 -7 0 Net new measurement of impairment provisions -194 80 -30 -144 -136 121 69 54 New issued or purchased loan 142 68 65 274 84 64 25 173 Loans that have been derecognised -84 -106 -94 -284 -51 -155 -42 -247 Impairment provisions on loans 30.09 333 403 715 1 451 309 497 746 1 552 Impairment provisions on financial commitments per stage Impairment provisions on financial commitments 01.01. 23 9 18 50 45 49 15 109 Changes 01.01 - 30.09 Transfer to (from) stage 1 -2 2 0 0 -2 2 0 0 Transfer to (from) stage 2 3 -4 0 0 20 -21 1 -0 Transfer to (from) stage 3 0 0 -0 0 0 0 -0 0 Net new measurement of impairment provisions 9 26 -5 30 -24 19 4 -1 New issued or purchased loan 36 7 2 45 20 6 1 26 Loans that have been derecognised -8 -4 -1 -13 -14 -9 -2 -25 Impairment provisions on financial commitments 30.09 61 36 14 112 45 46 18 110 (continued from Note 4) 23 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 5 Customer deposits Parent bank Group 31.12.25 30.09.25 30.09.26 Customer deposits by industry 30.09.26 30.09.25 31.12.25 1 897 1 871 2 690 Aquaculture 2 690 1 871 1 897 2 664 2 571 2 699 Industry 2 699 2 571 2 664 2 791 2 967 3 120 Agriculture/forestry 3 120 2 967 2 791 7 216 6 504 7 500 Financial and insurance services 7 033 5 916 6 603 3 140 2 915 3 442 Administrative and support services 3 442 2 915 3 140 50 668 46 428 55 453 Other service industry 55 453 46 428 50 668 6 320 5 744 5 673 Wholesale and retail trade, hotels and restaurants 5 673 5 744 6 320 2 045 1 975 3 978 Offshore, oil and gas E&P 3 978 1 975 2 045 2 797 2 806 2 584 Oilservices 2 584 2 806 2 797 8 538 5 712 6 914 Building and construction 6 914 5 712 8 538 9 282 8 437 12 245 Renewable, energy, water, and waste collection 12 245 8 437 9 282 10 444 13 620 13 011 Commercial real estate 13 011 13 620 10 444 4 153 2 973 2 786 Shipping 2 786 2 973 4 153 1 622 1 647 1 972 Other transport 1 972 1 647 1 622 113 577 106 170 124 069 Total corporate market 123 601 105 582 112 964 118 148 117 713 125 498 Retail customers 125 498 117 713 118 148 231 725 223 883 249 567 Deposits from customers 249 099 223 294 231 112 24 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 6 Loans and other financial commitments to customers Parent bank Group 31.12.25 30.09.25 30.09.26 Gross loans to customers by industry 30.09.26 30.09.25 31.12.25 6 388 6 520 6 256 Aquaculture 6 256 6 520 6 388 4 845 4 706 4 641 Industry 4 641 4 706 4 845 9 447 9 007 10 350 Agriculture/forestry 10 350 9 007 9 447 9 321 9 545 8 046 Financial and insurance services 8 046 9 545 9 321 4 833 4 477 8 107 Administrative and support services 8 107 4 477 4 833 15 812 15 801 15 727 Other service industry 15 615 15 647 15 668 3 626 3 974 4 684 Wholesale and retail trade, hotels and restaurants 4 684 3 974 3 626 4 359 3 991 5 574 Offshore, oil and gas E&P 5 574 3 991 4 359 3 071 3 556 3 100 Oilservices 3 100 3 556 3 071 14 638 14 676 12 665 Building and construction 12 665 14 676 14 638 8 664 7 731 9 278 Renewable, energy, water, and waste collection 9 278 7 731 8 664 47 893 47 700 52 717 Commercial real estate 52 717 47 700 47 893 5 262 5 864 8 224 Shipping 8 224 5 864 5 262 1 979 2 042 1 885 Other transport 1 885 2 042 1 979 140 136 139 588 151 255 Total corporate sector 151 143 139 435 139 991 139 558 132 573 143 827 Retail customers 282 028 254 312 257 526 279 693 272 162 295 082 Gross loans 433 170 393 747 397 517 -1 582 -1 519 -1 427 - Impairment provisions after amortised cost -1 451 -1 552 -1 605 21 29 9 - Home mortgages at FVOCI 1) 0 14 14 278 133 270 672 293 663 Loans to customers 431 720 392 208 395 926 279 693 272 162 295 082 Gross loans 433 170 393 747 397 517 19 593 19 538 9 334 Loans transferred to SB1 Boligkreditt 9 334 19 538 19 593 1 224 1 264 0 Loans transferred to SB1 Næringskreditt 0 1 264 1 224 300 511 292 964 304 416 Gross loans to customers incl. transferred to credit institutions 442 505 414 549 418 335 Financial commitments 2) 19 343 18 046 20 775 Guarantees customers 20 785 18 074 19 359 30 262 29 941 31 472 Unused credit lines for customers 47 290 42 471 42 482 24 868 24 178 19 931 Approved loan commitments 19 931 24 178 24 868 74 473 72 165 72 178 Total financial commitments 88 006 84 723 86 709 Other guarantees issued and liabilities 16 368 12 342 11 037 Unused credit lines for financial institutions 0 0 0 501 501 501 Guarantees other 501 501 501 124 17 1 Letters of credit 1 17 124 16 994 12 861 11 539 Total other guarantees issued and liabilities 503 519 625 1) FVOCI - Fair value other comprehensive income 2) Financial commitments not on the balance sheet that are the basis for impairments 25 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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(continued from Note 6) Parent bank 2026 Loans to customers by industry and stages Gross loans at amortised cost Loans at fair value Stage 1 Stage 2 Stage 3 Net loans 30.09.26 Aquaculture 6 209 47 -8 -9 -15 6 224 Industry 4 510 132 -12 -14 -37 4 578 Agriculture/forestry 7 150 3 200 -2 -5 -14 10 329 Financial and insurance services 8 039 7 -22 -18 -97 7 909 Administrative and support services 7 855 253 -39 -11 -86 7 972 Other service industry 14 150 1 577 -36 -48 -167 15 477 Wholesale and retail trade, hotels and restaurants 4 341 343 -19 -16 -42 4 607 Offshore, oil and gas E&P 5 574 0 -4 -6 0 5 564 Oilservices 3 099 1 -6 -33 0 3 061 Building and construction 11 946 719 -31 -30 -90 12 514 Renewable, energy, water, and waste collection 9 262 17 -18 -3 -9 9 249 Commercial real estate 52 494 223 -100 -143 -65 52 409 Shipping 8 224 0 -8 0 0 8 216 Other transport 1 655 229 -4 -13 -2 1 865 Total corporate market 144 508 6 747 -308 -349 -622 149 976 Retail customers 5 307 138 520 -16 -39 -92 143 679 Mortgages at FVOCI 1) 9 9 Loans to customers 149 815 145 267 -316 -388 -714 293 663 2025 Loans to customers by industry and stages Net loans 30.09.25 Aquaculture 6 492 27 -12 -10 -20 6 478 Industry 4 564 143 -11 -18 -34 4 644 Agriculture/forestry 6 108 2 899 -3 -6 -11 8 987 Financial and insurance services 9 538 7 -33 -26 -87 9 399 Administrative and support services 4 287 189 -17 -19 -61 4 380 Other service industry 14 256 1 545 -38 -38 -112 15 613 Wholesale and retail trade, hotels and restaurants 3 666 307 -9 -19 -35 3 910 Offshore, oil and gas E&P 3 991 0 -10 -3 0 3 979 Oilservices 3 552 4 -7 -11 -11 3 527 Building and construction 14 091 585 -26 -48 -137 14 464 Renewable, energy, water, and waste collection 7 717 14 -18 -9 -9 7 696 Commercial real estate 47 497 203 -87 -188 -124 47 301 Shipping 5 864 0 -6 -1 0 5 858 Other transport 1 777 264 -6 -12 -3 2 020 Total corporate market 133 401 6 188 -283 -407 -643 138 256 Retail customers 5 039 127 534 -16 -67 -103 132 387 Mortgages at FVOCI 29 29 Loans to customers 138 440 133 721 -270 -474 -746 270 672 26 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Group 2026 Loans to customers by industry and stages Gross loans at amortised cost Loans at fair value Stage 1 Stage 2 Stage 3 Net loans 30.09.26 Aquaculture 6 256 0 -8 -9 -15 6 224 Industry 4 622 19 -12 -14 -37 4 578 Agriculture/forestry 9 923 427 -2 -5 -14 10 329 Financial and insurance services 8 042 3 -22 -18 -97 7 909 Administrative and support services 8 094 14 -39 -11 -86 7 972 Other service industry 15 477 139 -36 -48 -167 15 364 Wholesale and retail trade, hotels and restaurants 4 653 32 -19 -17 -42 4 607 Offshore, oil and gas E&P 5 574 0 -4 -6 0 5 564 Oilservices 3 100 0 -6 -33 0 3 061 Building and construction 12 630 35 -31 -30 -90 12 514 Renewable, energy, water, and waste collection 9 275 4 -18 -3 -9 9 249 Commercial real estate 52 654 63 -100 -143 -65 52 409 Shipping 8 224 0 -8 0 0 8 216 Other transport 1 876 9 -4 -13 -2 1 865 Total corporate market 150 399 743 -309 -350 -622 149 862 Retail customers 272 398 9 630 -25 -53 -93 281 857 Mortgages at FVOCI 0 0 Loans to customers 422 797 10 373 -333 -403 -715 431 720 2025 Loans to customers by industry and stages Net loans 30.09.25 Aquaculture 6 520 0 -12 -10 -20 6 478 Industry 4 687 20 -11 -18 -34 4 644 Agriculture/forestry 8 459 548 -3 -6 -11 8 987 Financial and insurance services 9 542 3 -33 -26 -87 9 399 Administrative and support services 4 462 15 -17 -19 -61 4 380 Other service industry 15 494 153 -38 -38 -112 15 459 Wholesale and retail trade, hotels and restaurants 3 943 30 -9 -19 -35 3 910 Offshore, oil and gas E&P 3 991 0 -10 -3 0 3 979 Oilservices 3 556 0 -7 -11 -11 3 527 Building and construction 14 634 42 -27 -48 -137 14 464 Renewable, energy, water, and waste collection 7 727 4 -18 -9 -9 7 696 Commercial real estate 47 619 80 -87 -188 -124 47 300 Shipping 5 864 0 -6 -1 0 5 858 Other transport 2 026 16 -7 -12 -3 2 020 Total corporate market 138 524 911 -283 -408 -643 138 101 Retail customers 242 509 11 803 -26 -89 -103 254 093 Mortgages at FVOCI 1) 14 14 Loans to customers 381 033 12 714 -296 -497 -746 392 208 (continued from Note 6) 27 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Parent bank 01.01 - 30.09 2026 01.01 - 30.09 2025 Gross loans per stage Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Gross loans 01.01. 256 451 20 564 2 678 279 693 238 463 26 859 2 643 267 965 Transfer to (from) stage 1 -8 465 7 712 753 0 -11 162 10 111 1 051 0 Transfer to (from) stage 2 5 377 -5 567 190 0 7 003 -7 200 197 0 Transfer to (from) stage 3 9 201 -209 0 13 39 -51 0 Net increase/(decrease) balance existing loans 16 081 1 032 25 17 138 21 661 1 705 61 23 427 Originated or purchased during the period 121 344 3 736 331 125 412 104 351 4 422 743 109 516 Loans that have been derecognised -115 684 -9 633 -1 844 -127 161 -115 470 -11 156 -2 120 -128 746 Gross loans 30.09 275 113 18 046 1 923 295 082 244 859 24 779 2 523 272 162 Financial commitments per stage 1) 2) Financial commitments 01.01. 70 965 3 293 216 74 473 62 209 3 388 180 65 776 Net increase / (decrease) during period -795 -1 431 -69 -2 295 5 495 883 11 6 389 Financial commitments 30.09 70 170 1 862 146 72 178 67 704 4 271 190 72 165 Group Gross loans per stage Gross loans 01.01. 371 121 23 703 2 693 397 517 339 919 33 076 2 683 375 678 Transfer to (from) stage 1 -8 465 7 712 753 0 -12 940 11 877 1 063 0 Transfer to (from) stage 2 5 377 -5 567 190 0 8 897 -9 094 197 -0 Transfer to (from) stage 3 9 201 -209 0 13 40 -53 0 Net increase/(decrease) balance existing loans 16 081 1 032 25 17 138 28 330 1 843 61 30 234 Originated or purchased during the period 172 886 4 384 334 177 604 146 144 5 289 746 152 179 Loans that have been derecognised -146 779 -10 471 -1 840 -159 089 -148 818 -13 371 -2 155 -164 344 Gross loans 30.09 410 232 20 994 1 945 433 170 361 544 29 660 2 543 393 747 Financial commitments per stage 1) 2) Financial commitments 01.01. 82 874 3 618 217 86 709 71 672 3 974 183 75 829 Net increase / (decrease) during period 2 783 -1 419 -68 1 297 8 085 800 9 8 894 Financial commitments 30.09 85 657 2 200 149 88 006 79 757 4 774 192 84 723 1) Financial commitments include guarantees, undrawn credit and loan commitments 2) Financial commitments provide the basis for impairment losses under IFRS 9 (continued from Note 6) 28 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 7 Capital adequacy Capital adequacy is calculated and reported in accordance with the EU’s capital requirements for banks and securities under - takings (CRD IV/CRR).SpareBank 1 Sør-Norge has permission from the Financial Supervisory Authority of Norway to use internal measurement methods (Internal Rating Based Approach) for quantifying credit risk. The use of IRB requires the bank to comply with extensive requirements relating to organisation, expertise, risk models and risk management systems. At the end of third quarter of 2026, SpareBank 1 Sør-Norge has complied in full with all its externally imposed capital requirements. Parent bank Group 31.12.25 30.09.25 30.09.26 30.09.26 30.09.25 31.12.25 9 386 9 386 9 293 Share capital 9 293 9 386 9 386 14 719 14 719 14 719 Premium reserve 14 719 14 719 14 719 4 498 0 0 Allocated to dividend 0 0 4 498 4 000 4 000 4 000 Hybrid capital 4 000 4 000 4 000 18 036 21 618 22 933 Other equity 26 918 25 955 22 893 50 639 49 723 50 944 Total equity 54 929 54 060 55 496 Deductions -3 569 -3 569 -3 569 Deferred taxes, goodwill and other intangible assets -4 765 -5 623 -5 004 -4 498 0 0 Deduction for allocated dividends 0 0 -4 498 -481 -587 -578 Deduction in expected losses IRB less loss provisions -780 -781 -689 -9 -6 -46 Insufficient coverage for non-performing exposures -46 -6 -9 -4 000 -4 000 -4 000 Hybrid capital that cannot be included in CET 1 capital -4 000 -4 000 -4 000 -704 0 -644 Share buy-back program -644 0 -704 0 -2 355 -3 073 Profit for the period that cannot be included in total Tier 1 capital -2 664 -2 834 -134 -496 -496 -496 Deduction for CET 1 capital in not essential investments in financial institutions -425 -400 -411 -103 -100 -97 Value adjustments due to the requirements for prudent valuation -106 -121 -109 36 778 38 610 38 441 Common equity Tier 1 capital 41 499 40 295 39 938 4 000 4 000 4 000 Hybrid capital 4 286 4 386 4 324 -49 -49 -49 Deduction for essential investments in financial institutions -49 -49 -49 40 729 42 561 42 392 Tier 1 capital 45 736 44 572 44 213 Tier 2 capital 5 523 5 617 5 328 Term subordinated loan capital 5 765 6 139 6 005 -238 -237 -391 Deduction for essential investments in financial institutions -391 -237 -238 5 285 5 380 4 936 Tier 2 capital 5 374 5 902 5 767 46 014 47 941 47 328 Own funds 51 110 50 474 49 980 29 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Parent bank Group 31.12.25 30.09.25 30.09.26 30.09.26 30.09.25 31.12.25 116 262 100 319 124 308 Credit risk, IRB approach 174 211 148 239 163 096 44 665 53 190 47 135 Credit risk, standardised approach 36 829 48 813 40 877 Settlement risk 0 0 0 Debt risk 52 36 25 Equity risk 114 97 80 Foreign Exchange risk 55 29 31 45 41 118 Credit value adjustment risk (CVA) 198 574 406 15 656 13 977 15 656 Operational risk 23 054 19 853 22 761 Other risk exposures 0 0 0 176 629 167 526 187 217 Total risk exposure amount 234 512 217 641 227 275 7 948 7 539 8 425 Minimum requirement for common equity Tier 1 capital ratio 4.5 % 10 553 9 794 10 227 Buffer requirement 4 416 4 188 4 680 Capital conservation buffer 2.5 % 5 863 5 441 5 682 7 860 7 455 8 312 Systemic risk buffer 4.5 % 10 412 9 685 10 114 4 380 4 155 4 643 Countercyclical capital buffer 2.5 % 5 816 5 397 5 636 1 766 1 675 1 872 Systemic risk buffer 1,0% 2 345 2 176 2 273 18 422 17 473 19 508 Total buffer requirement to common equity Tier 1 capital ratio 24 436 22 700 23 705 10 408 13 598 10 508 Available common equity Tier 1 capital ratio after buffer requirement 6 510 7 801 6 006 20,82% 23,05% 20,53% Common Equity Tier 1 capital ratio 17,70% 18,51% 17,57% 23,06% 25,41% 22,64% Tier 1 capital ratio 19,50% 20,48% 19,45% 26,05% 28,62% 25,28% Capital ratio 21,79% 23,19% 21,99% 9,44% 10,12% 9,18% Leverage ratio 7,38% 7,44% 7,30% (continued from Note 7) 30 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 8 Financial derivatives Group 30.09.26 Contract amount Fair value At fair value through profit and loss Assets Liabilities Currency instruments Currency futures (forwards) 2 943 37 74 Currency swaps 22 382 247 68 Currency swaps (basis swaps) 62 161 294 816 Currency swaps (basis swaps hedging) 46 191 382 255 Total currency instruments 133 677 960 1 213 Interest rate instruments Interest rate swaps 110 849 2 821 1 253 Other interest rate contracts 2 203 1 1 Total interest rate instruments 113 051 2 822 1 254 Interest rate instruments, hedging Interest rate swaps 162 741 258 7 228 Total interest rate instruments, hedging 162 741 258 7 228 Total currency and interest rate instruments Total currency instruments 133 677 960 1 213 Total interest rate instruments 275 792 3 080 8 481 Total financial derivatives 409 469 4 041 9 694 Counterparty risk associated with derivatives is reduced via central clearing, ISDA agreements and CSA supplements. The CSA supplement regulates the counterparty risk through payments of margins in relation to exposure limits. The table below presents the carrying amounts of financial derivatives, together with the effects of netting agreements and collateral received, resulting in the Group’s net exposure to counterparties. Offsetting: Assets Liabilities Financial derivatives 4 041 9 694 Netting agreements 3 452 3 452 Cash collateral 187 5 911 Amounts after possible netting 401 331 31 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 9 Securities issued, non-preferred bonds and subordinated loan Group Issued/ sale own Past due/ redeemed FX rate- and other changes Changes in debt securities issued 30.09.26 31.12.25 Commercial papers, nominal value 24 846 28 675 -11 953 -261 8 385 Bonds, nominal value 62 438 6 703 -5 490 -2 907 64 132 Covered bonds, nominal value 125 581 19 220 -836 -5 953 113 151 Adjustments and accrued interests -5 470 -2 709 -2 761 Total debt securities issued 207 395 54 598 -18 279 -11 830 182 906 Changes in senior non-preferred bonds Senior non-preferred bonds 19 318 5 531 -7 828 -898 22 512 Adjustments and accrued interests -108 -207 100 Total senior non-preferred bonds 19 210 5 531 -7 828 -1 106 22 612 Changes in subordinated loan capital issued Term subordinated loan capital, nominal value 5 495 0 -195 -45 5 736 Adjustments and accrued interests 39 -2 40 Total subordinated loan capital issued 5 534 0 -195 -47 5 776 32 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 10 Segment reporting A business segment is part of an entity that is engaged in providing individual products or services that are subject to risks and returns that are different from those of other business segments. As regards to segment reporting, the group executive management team is the supreme decisionmaking authority. The figures in the segment reporting are based on internal reporting for the group executive management team. The executive management team has assessed which segments are reportable based on the form of distribution, products and customers. The primary reporting format is based on the risk and returnprofile of the assets, and it is divided between retail market and corporate market. Other activities cover all staff departments including treasury, subsidiaries and associated companies. Group Q3 Income statement (MNOK) Retail market Corporate market Other activities Eliminations Group 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Net interest income 1) 847 905 1 032 1 019 362 408 -4 -3 2 237 2 328 Net commission and other income 314 289 163 168 313 345 -20 -24 771 778 Net income on financial investments 9 7 31 18 422 417 0 0 462 443 Total income 1 170 1 202 1 227 1 205 1 096 1 170 -23 -28 3 470 3 549 Total operating expenses 246 275 116 126 869 940 -23 -28 1 208 1 314 Operating profit before impairment 924 927 1 110 1 079 227 230 0 0 2 262 2 235 Impairment losses on loans and other financial liabilities 9 3 76 112 0 -0 0 0 85 115 Pre-tax profit 915 923 1 035 967 227 230 0 0 2 177 2 120 Group 01.01 - 30.09 Income statement (MNOK) Retail market Corporate market Other activities Eliminations Group 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Net interest income 1) 2 454 2 553 2 981 3 036 1 139 1 368 -11 -10 6 562 6 948 Net commission and other income 891 825 483 497 1 154 1 171 -71 -70 2 457 2 423 Net income on financial investments 28 20 96 85 1 106 1 105 0 0 1 230 1 210 Total income 3 373 3 399 3 560 3 618 3 399 3 644 -82 -79 10 249 10 581 Total operating expenses 740 730 341 336 2 789 3 023 -82 -79 3 788 4 010 Operating profit before impairment 2 633 2 668 3 218 3 282 610 621 0 0 6 461 6 571 Impairment losses on loans and other financial liabilities 17 -67 181 282 0 -0 0 0 197 215 Pre-tax profit 2 617 2 735 3 038 3 000 610 621 0 0 6 264 6 356 Balance sheet items (MNOK) Loans to customers 286 641 257 219 147 540 137 052 -899 -371 -112 -153 433 170 393 747 Loans transferred to SB1 Bolig- og Næringskreditt 9 322 19 270 12 1 531 0 0 0 0 9 334 20 802 Loans to customers incl. SB1 Bolig- and Næringskreditt 295 964 276 490 147 552 138 583 -899 -371 -112 -153 442 505 414 549 Impairment provisions on loans -191 -217 -1 260 -1 322 0 0 0 0 -1 451 -1 539 Deposits from customers 132 456 124 127 117 479 100 993 -369 -1 237 -467 -588 249 099 223 294 1) Net interes income contains allocated arrangements between the segments. The interest on intercompany receivables for the retail market and corporate market is determined on the basis of expected observable market interest rates (NIBOR) plus expected additional costs in connection with the group’s long-term funding (credit premium). Deviations between the Group’s actual funding costs and the applied interest on intercompany receivables are eliminated in the parent bank. 33 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 11 Net income/losses from financial investments Parent bank Group 01.01 - 30.09 01.01 - 30.09 2025 2025 2026 Q3 2025 Q3 2026 Q3 2026 Q3 2025 2026 2025 2025 111 95 85 1 0 Dividends 1 11 96 110 127 64 74 166 -3 143 Net gains/losses on equity instruments 1) 107 19 119 118 111 121 132 -773 -163 -576 Net gains/losses for bonds and certificates -573 -166 -778 128 107 -118 -145 774 175 583 Net derivatives bonds and certificates 583 175 774 -145 -118 1 1 -0 0 -0 Net counterparty risk, inclusive of CVA -0 0 -0 1 1 27 2 -18 -2 -9 Net derivatives other assets -9 -2 -18 2 27 -49 -18 51 8 17 Net derivatives liabilities 38 36 103 12 -36 56 79 14 27 21 Net derivatives basis swap spread 37 66 51 155 162 238 175 184 51 64 Net gain/losses currency 64 51 184 175 238 -86 -60 -51 -14 -16 Share of income to SB1 Markets -16 -14 -51 -60 -86 364 334 431 81 225 Net gains/losses on financial instruments 230 177 481 494 532 0 0 0 0 0 0 527 527 1 145 91 0 Income from investments in associates 232 266 749 715 997 327 327 1 024 4 0 Income from investments in subsidiaries 0 0 0 0 0 853 853 2 169 95 0 Income from ownership interests 232 266 749 715 997 1) Gain on sale of SpareBank 1 Forretningspartner in Q3 2026 amounted to NOK 115 million in the parent company and NOK 80 million in the Group. Note 12 Liquidity risk Liquidity risk is the risk that the group is not able to refinance its debt or is not able to finance an increase in assets. The bank’s framework for managing liquidity risk shall reflect the bank’s conservative risk profile. The board has adopted internal limits such that the bank has as balanced a maturity structure for its borrowing as possible. Stress testing is conducted for the various terms of maturity for bank-specific crises, system crises and combinations of these. A contingency plan has also been put in place to manage liquidity crises. The average remaining term to maturity in the portfolio of senior bond funding and covered bonds was 3.0 years at the end of the third quarter of 2026. The total LCR was 162% at the end of the third quarter, and the average total LCR was 153% in the quarter. The LCR in NOK and EUR at the end of the quarter was 98 % and 938 %, respectively. 34 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Note 13 Information about fair value Group The table below shows financial instruments at fair value according to their valuation method. The different levels are defined as follows: Level 1: Listed price in an active market for an identical asset or liability Level 2: Valuation based on observable factors other than listed price (used in level 1) either direct (price) or indirect (deduced from prices) Level 3: Valuation based on factors not obtained from observable markets (non-observable assumptions) Fair value 30.09.26 Level 1 Level 2 Level 3 Total Assets Net lending to customers 1) 10 373 10 373 Commercial paper and bonds 51 564 19 772 71 336 Financial derivatives 4 041 4 041 Equities, units and other equity interests 675 49 882 1 607 Liabilities Financial derivatives 9 694 9 694 1) Net lending to customers in parent bank, level 3 145 267 Fair value 30.09.25 Assets Net lending to customers 1) 12 714 12 714 Commercial paper and bonds 44 955 22 219 67 175 Financial derivatives 3 551 3 551 Equities, units and other equity interests 622 81 1 583 2 286 Liabilities Financial derivatives 7 815 7 815 1) Net lending to customers in parent bank, level 3 133 721 Change in holding during the financial year of assets valued on the basis of factors other than observable market data (level 3) Loans to customers Shares, ownership stakes and other securitiesGroup Balance 01.01 12 263 1 498 Additions 250 111 Disposals -2 028 -771 Change in value 1) -112 45 Balance 30.09.26 10 373 882 Nominal value/cost price 10 741 949 Fair value adjustment -368 -67 Balance 30.09.26 10 373 882 1) Value changes are recognised in net income from financial instruments. Other assets are measured using various methods such as last known transaction price, earnings per share, dividend per share, EBITDA and discounted cash flows. Fixed-rate loans are measured on the basis of the interest rate agreed with the customer. Loans are discounted using the applicable having taken into account a market premium, which is adjusted for the profit margin. The conducted sensitivity analyses indicate an increase in the discount rate of 10 basis points would have a negative effect on the result amounting to NOK 19 million. 35 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Fair value of financial instruments at amortised cost 30.09.26 Group Balance Fair value Assets Cash and balances with central banks 4 105 4 105 Balances with credit institutions 1) 18 655 18 655 Loans to customers 1) 421 346 421 346 Certificates and bonds 5 197 5 200 Total assets at amortised cost 449 303 449 306 Liabilities Balances with credit institutions 1) 5 403 5 403 Deposits from customers 1) 249 099 249 099 Listed debt securities 207 395 208 238 Senior non-preferred bonds 19 210 19 438 Subordinated loan capital 5 534 5 791 Total liabilities at amortised cost 486 641 487 970 1) Loans and deposits at amortised cost, amount to book value best estimate at fair value Note 14 Sale of SpareBank 1 Sør-Norge Forretningspartner AS SpareBank 1 Sør-Norge ASA sold 55.2 per cent of the shares in SpareBank 1 Sør-Norge Forretningspartner AS (Forretningspartner) to a company controlled by ECIT AS in the third quarter of 2026. Following completion of the transa - ction, the Group holds an ownership interest of 44.8 per cent. The transaction resulted in a loss of control, and SpareBank 1 Sør-Norge Forretningspartner AS was deconsolidated from the consolidated financial statements. The remaining ownership interest was measured at fair value at the date control was lost and is subsequently accounted for as an associate using the equity method. The sale resulted in a positive contribution to the Group’s profit of NOK 80 million in the third quarter of 2026. The gain was recognised under net gains/losses on financial instruments, which is included in net income on financial investments. Reference is made to Note 11. Until completion of the transaction, Forretningspartner was classified as held for sale in accordance with IFRS 5. Assets and liabilities classified as held for sale amounted to NOK 541 million and NOK 135 million, respectively, as at 30 June 2026. Prior to the sale, Forretningspartner was included in the Other operations segment. Reference is made to Note 10 Segment reporting. Note 15 Events after the balance sheet date No material events have been registered after 30.09.2026 that affect the interim financial statements as prepared. (continued from Note 13) 36 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Quarterly overview SpareBank 1 Sør-Norge Group, MNOK Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 2026 2026 2026 2025 2025 2025 2025 2024 2024 Interest income 7 226 6 747 6 432 6 637 6 989 6 938 6 864 6 980 5 731 Interest expense 4 990 4 601 4 252 4 314 4 661 4 628 4 554 4 688 3 962 Net interest income 2 237 2 146 2 180 2 323 2 328 2 310 2 310 2 293 1 768 Commission income 808 916 833 852 811 893 815 826 492 Commission expenses 45 37 44 39 41 42 33 41 21 Other operating income 8 9 11 4 8 7 5 4 2 Net commission and other income 771 888 799 818 778 858 787 789 473 Income from ownership interests 232 324 192 281 266 256 193 223 655 Net gains/losses on financial instruments 230 76 175 37 177 117 201 -98 -140 Net income on financial investments 462 400 368 319 443 373 394 125 514 Total income 3 470 3 433 3 346 3 459 3 549 3 540 3 492 3 206 2 755 Salaries and other personell expenses 768 803 814 829 796 799 774 811 532 Other operating expenses 379 432 406 440 459 555 451 506 316 Depreciation and impairment of fixed and intangible assets 61 63 62 61 59 60 57 59 43 Total operating expenses 1 208 1 298 1 282 1 330 1 314 1 414 1 282 1 376 891 Operating profit before impairment 2 262 2 135 2 064 2 130 2 235 2 126 2 209 1 830 1 864 Impairment losses on loans and financial commitments 85 54 59 137 115 76 23 90 160 Pre-tax profit 2 177 2 082 2 005 1 993 2 120 2 050 2 186 1 741 1 704 Tax expense 420 405 405 402 423 382 449 350 254 Profit after tax 1 757 1 677 1 600 1 591 1 697 1 668 1 737 1 390 1 450 Profitability Return on equity per quarter 1) 13,2 % 12,7 % 11,8 % 11,9 % 13,0 % 12,9 % 13,5 % 10,9 % 17,5 % Return on equity adjusted for goodwill from merger and merger costs 1) 14,2 % 13,6 % 12,7 % 12,8 % 14,5 % 14,4 % 14,7 % 12,3 % Cost to income ratio 1) 34,8 % 37,8 % 38,3 % 38,4 % 37,0 % 39,9 % 36,7 % 42,9 % 32,3 % Cost to income ratio Banking Group 1) 33,1 % 36,5 % 36,2 % 35,1 % 35,7 % 39,1 % 34,6 % 38,0 % 34,3 % Average net interest margin 1) 1,62% 1,62% 1,71% 1,81% 1,79% 1,86% 1,92% 1,91% 1,84% Average net interest margin incl. transfers to credit institutions 1) 1,59% 1,58% 1,67% 1,76% 1,74% 1,79% 1,84% 1,82% 1,84% Balance sheet figures from quarterly accounts Gross loans to customers 433 170 418 587 406 759 397 517 393 747 387 629 379 310 375 678 289 320 Gross loans to customers incl. transfers to credit institutions 442 505 434 643 423 654 418 335 414 549 412 721 408 435 405 062 289 320 Growth in loans over last 12 months 1) 10,0 % 8,0 % 7,2 % 5,8 % 36,1 % 36,2 % 36,4 % 38,1 % 7,3 % Growth in loans incl. transfers to credit institutions 1) 6,7 % 5,3 % 3,7 % 3,3 % 43,3 % 45,0 % 46,8 % 48,9 % 7,3 % Deposits from customers 249 099 255 770 240 369 231 112 223 294 223 293 210 778 204 006 146 478 Growth in deposits over last 12 months 1) 11,6 % 14,5 % 14,0 % 13,3 % 52,4 % 44,1 % 39,9 % 36,8 % −2,7 % Total assets 554 749 544 677 519 433 513 054 507 768 513 420 488 597 479 336 380 039 Average total assets 546 077 530 951 517 319 510 362 515 000 498 404 487 807 478 522 382 817 Impairments on loans and financial commitments Impairment ratio, annualized 1) 0,08% 0,05% 0,06% 0,14% 0,12% 0,08% 0,03% 0,11% 0,22% 1) Defined as alternative performance targets (APMs), see the appendix to the interim report 37 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 2026 2026 2026 2025 2025 2025 2025 2024 2024 Loans and financial commitments in Stage 2 and Stage 3 Loans and financial commitments in Stage 2 in % of gross loans and financial commitments 1) 4,45% 4,12% 5,05% 5,64% 7, 20% 6,55% 7,31% 8,21% 8,27% Loans and financial commitments in Stage 3 in % of gross loans and financial commitments 1) 0,40% 0,42% 0,53% 0,60% 0,57% 0,58% 0,55% 0,63% 0,62% Solidity Common equity Tier 1 capital ratio 17,70% 17,51% 17,67% 17,57% 18,51% 18,63% 18,29% 18,01% 17,75% Tier 1 capital ratio 19,50% 19,35% 19,56% 19,45% 20,48% 20,67% 20,13% 20,21% 20,56% Capital ratio 21,79% 21,73% 22,08% 21,99% 23,19% 23,47% 22,93% 23,03% 23,84% Tier 1 capital 45 736 44 793 44 210 44 213 44 572 43 961 42 692 42 635 31 675 Net primary capital 51 110 50 303 49 918 49 980 50 474 49 918 48 629 48 589 36 731 Risk weighted balance 234 512 231 493 226 073 227 275 217 641 212 696 212 064 210 950 154 075 Leverage ratio 7,4 % 7,2 % 7,4 % 7,3 % 7,4 % 7,3 % 7,5 % 7,7 % 7,5 % Liquidity Liquidity Coverage Ratio (LCR) 2) 162% 162% 158% 182% 148% 209% 163% 189% 172% Deposit to loan ratio 1) 57,5 % 61,1 % 59,1 % 58,1 % 56,7 % 57,6 % 55,6 % 54,3 % 50,6 % Deposit to loan incl. transfers to credit institutions ratio 1) 56,3 % 58,8 % 56,7 % 55,2 % 53,9 % 54,1 % 51,6 % 50,4 % 50,6 % Branches and staff Number of branches 51 54 54 54 54 54 55 55 36 Number of man-years 1 844 2 202 2 261 2 302 2 312 2 302 2 323 2 309 1 625 Number of man-years including temps 1 882 2 263 2 299 2 328 2 353 2 381 2 387 2 364 1 676 SpareBank 1 Sør-Norge share Market price at end of quarter 226,50 193,40 210,50 198,40 177,80 185,40 169,40 146,60 136,20 Market capitalisation (MNOK) 84 190 71 887 79 034 74 491 66 756 69 610 63 602 55 042 35 993 Number of shares issued, millions 371,70 371,70 375,46 375,46 375,46 375,46 375,46 375,46 264,27 Book equity per share 1) 137,47 133,17 140,94 137,40 133,34 129,00 133,29 128,77 120,90 Earnings per share, NOK (annualised) 4,51 4,33 4,08 4,07 4,29 4,23 4,37 3,48 5,19 Price/earnings per share 1) 12,66 11,13 12,73 12,29 10,44 10,93 9,55 10,58 6,60 Price / Book equity (group) 1) 1,65 1,45 1,49 1,44 1,33 1,44 1,27 1,14 1,13 Turnover rate in quarter 3) 2,8 % 3,1 % 5,2 % 3,0 % 2,5 % 4,8 % 4,9 % 4,2 % 3,5 % Effective return 4) 17,1 % −2,4 % 6,1 % 11,6 % −4,1 % 14,5 % 15,6 % 7,6 % 4,3 % 1) Defined as alternative performance targets (APMs), see the appendix to the interim report 2) High quality liquid assets divided by total net cash outflows in a 30-day, serious stress scenario 3) Turnover of the share during the period, measured as a percentage of the number of outstanding shares 4) Percentage change in the market price in the last period, including paid share dividend 38 SpareBank 1 Sør-Norge Group, Q3 2026 – Unaudited QUARTERLY FINANCIAL REPORT
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Group management Investor Relations Morten Forgaard EVP Finance / IR +47 916 21 425 morten.forgaard@sb1sornorge.no Inge Reinertsen CEO +47 909 95 033 inge.reinertsen@sb1sornorge.no Eirik Børve Monsen CFO +47 916 39 831 eirik.monsen@sb1sornorge.no Address Christen Tranes Gate 35 P.O. Box 250, N-4068 Stavanger Contact info Tel. +47 915 02002 www.sb1sornorge.no Financial calendar 2026 Q4 2026 Thursday 11 February 2027 Contact information and financial calendar QUARTERLY FINANCIAL REPORT