Slides
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3Q Quarterly presentation Third quarter 2026 Photo: Anders Martinsen UAS Norway / POOL / NTB
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2 Strong commission income and cost control Return on equity (%) • Return on equity of 11.2 per cent, with solid underlying performance. • Loan growth is accelerating, with particularly positive developments in the corporate market portfolio. Solid growth also in residential mortgages in the Greater Oslo region, a strategic priority. • Continued very strong performance in commission income, with growth of approximately 9 per cent. • Low underlying cost growth, with an increased focus on costs. The target is to keep costs flat from 2025 to 2027, adjusted for merger-related costs. • Well capitalised, and well positioned for growth and distributions. • A number of technological and organisational initiatives have been launched to build the financial services group of the future. Return on equity, % Loan growth NIM kr Earnings/ECC • 4,8 % • 37,3 % • 17,0 % Loss provisions CET-1 Cost/income excl. merger MNOK
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3 Macro backdrop Activity in market area has been lower than elsewhere in Norway, due to rate rate -sensitive sectors including construction. Stil l, unemployment and bankruptcies have risen only moderately. Activity in housing market is high. • Moderate levels of bankruptcies and unemployment Norges Banks regional indicators • Strong activity in the property market, although more subdued recently • Lower economic activity in Eastern Norway than in the rest of the country Number of bankruptcies, year-to-date (week 42 per year), market area Existing home sales (no. of homes), monthly, market area
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4 Corporate market growth is accelerating * Includes loans transferred to mortgage credit institutions. Corporate market: Loan volume and growth (NOK bill. and %)*Retail market: Loan volume and growth (NOK bill. and %)* Proforma
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We are the biggest savings bank in Oslo Greater Oslo | top-10 savings banks in retail mortgages Oslo county | top-5 savings banks in retail mortgages Akershus county | top-5 savings banks in retail mortgages Note: Market share share of total residential property collateral registrations in the market
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The local bank for the capital region 6 Residential mortgages in Oslo, Akershus and Buskerud, NOK billion in volume and regional distribution of mortgage loans by counties
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7 Strong rise in commission income Insurance commissions, rolling four-quarter total, NOK million Number of mutual fund customers, thousands* CAGR: CAGR: AUM*, NOK billion * On the SpareBank 1 Fondsplattform. Rentebildet skjerper fokuset på breddesalg. Utviklingen i bankens provisjonsinntekter er sterk både på person og bedriftsmark edet. I tillegg fortsetter den nyfusjonerte eiendomsmegleren å levere sterke tall.
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8 Underlying cost growth is low On track with planned workforce adjustments, while total merger-related costs were lower than planned. C/I < 40 % Cost target** ≤ 5 & * Adjusted for NOK 40 million provision related to Tietoevry in 2025, NOK 82 million in severance packages in 2026, and merger-related costs in both years. ** Excluding merger-related costs. Changes in operating expenses compared with the same period last year, NOK million*
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We are building the financial services group of the future CUSTOMER EXPERIENCES Digital and seamless customer journeys ORGANISATION Right competencies, clearer accountability and stronger execution TECHNOLOGY Stronger prioritisation, execution and cost control PRESENCE Collaboration, knowledge sharing and innovation
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10 3Q Financial accounts Third quarter 2026
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11 Income statement * Net interest income includes commission fees from covered bond companies. Chg. in operating profit after tax (NOK mill.), from last yearChg. in operating profit after tax (NOK mill.), from previous quarter
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12 Net interest income ’ y J y F adjustments for retail customers will take effect on 30 November. Net interest income incl. commissions from covered bond companies (MNOK and %) 5 5 5 5 Proforma
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13 Commission income * Excludes commission income from the covered bond companies. Net commissions and other income (NOK million) y 5 Proforma
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14 Profits in subsidiaries * Company has been liquidated. . Profits after tax in subsidiaries (NOK million) F F 5 5 Proforma
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15 Profits in joint ventures Profits after tax in joint ventures (NOK million) F 5 5
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16 Net income from financial assets and liabilities Net income from finance (NOK million) y 5 5 5 Proforma
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17 Operating expenses Operating expenses (NOK million) 5 5 5 Proforma
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18 Operating expenses, ctd. Quarterly cost income ratiosChanges in operating expenses (NOK million), from last year F F Proforma
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19 Loan loss provisions Loan loss expenses in SB1 Finans Østlandet primarily due to a single large exposure. Quarterly loan loss provisions F 5 5 Proforma
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20 Exposures per stage and credit loss provision ratio in stage 3 * Excluding loans transferred to covered bond companies. Residual up to 100 per cent is due to loans at fair value over profit. Stage 3: Volume and provisions (NOK mill. and %)Exposure by stages (% of gross loans)*
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A solid loan portfolio Credit indicators remain stable, confirming a solid loan portfolio. 21 Arrears retail market, NOK mill.*Share of retail customers with interest-only mortgage, % Corp. arrears below 90 days (NOK mill.) LTV commercial real estate * Does not include loans transferred to SpareBank 1 Boligkreditt. y y y y
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22 Capital levels Solid buffers to the ’ solvency target. Common equity Tier 1 capital ratio y y 5
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Together we develop Eastern Norway
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24 Contact details Klara-Lise Aasen CEO klara-lise.aasen@sb1ostlandet.no Geir-Egil Bolstad CFO +47 918 82 071 geir-egil.bolstad@sb1ostlandet.no Bjørn-Erik R. Orskaug Head of Investor Relations +47 922 39 185 bjorn-erik.orskaug@sb1ostlandet.no investor@sb1ostlandet.no
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Disclaimer This presentation contains forward- ’ events and potential financial performance. Although SpareBank 1 Østlandet believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of various factors. Important factors that may cause such a difference for SpareBank 1 Østlandet are, but are not limited to: (i) the macroeconomic development, (ii) change in the competitive climate, (iii) change in the regulatory environment and other government actions and (iv) change in interest rate and foreign exchange rate levels. This presentation does not imply that SpareBank 1 Østlandet has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided. 25
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Appendix 26
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27 Why invest in SPOL?
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28 Financial targets 15.9 %> 13 % > 50 % < 40 % Profitability Dividends SolvencyCosts* * Excl. costs related to merger. 12,2 % 70 % 17.9 % Achievements year-to-date 42,2 %
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4 * Includes loans transferred to mortgage credit institutions. ** The figures are allocated by division (volume growth is allocated by sector). 29 Group volumes and margin development Loan volume and growth (NOK bill. and %)* Deposit volume and growth (NOK bill. and %) Margins, parent bank (%)** Proforma excl. margins
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4 * Includes loans transferred to mortgage credit institutions. ** The figures are allocated by division (volume growth is allocated by sector). 30 Retail market Loan volume and growth (NOK bill. and %)* Deposit volume and growth (NOK bill. and %) Margins, parent bank (%)** Proforma excl. margins
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4 * Includes loans transferred to mortgage credit institutions. ** The figures are allocated by division (volume growth is allocated by sector). 31 Corporate market Loan volume and growth (NOK bill. and %)* Deposit volume and growth (NOK bill. and %) Margins, parent bank (%)** Proforma excl. margins
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32 Well diversified loan portfolio Lending to customers per sector (in %) y y Corporate market 27.5 % / 68,107 Retail market 72.5 % / 179,844
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33 The Group’s lending by geography Change last 12 months (%)Lending to customers per county (share in %/NOK million)
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34 Retail market lending by geography Change last 12 months (%)Retail lending by county (share in %/NOK million)
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35 Corporate market lending by geography Change last 12 months (%)Corporate lending by county (share in %/NOK million)
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36 Rate sensitive volume * Covered bonds refer to loans transferred to covered bond companies. Securities, NOK bill.*Loans and deposits, NOK bill. y
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37 Retail: Indicators of underlying credit quality * Does not include loans transferred to SpareBank 1 Boligkreditt. Arrears retail market, NOK mill.*Retail customers with interest-only mortgage y y
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38 Retail: Mortgage collateral * Including loans transferred to SpareBank 1 Boligkreditt. Share of lending according to LTV - retail mortgages*Share of LTV by exposure – retail mortgages*
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39 Stable low LTVs in new mortgage approvals Share of new mortgage approvals and average LTV per period and county (Inland county divided b/w old Hedmark and Oppland counties) Oslo Akershus Hedmark Oppland Other
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40 Corporate: Indicators of underlying credit quality Corp. arrears below 90 days (NOK mill.)Use of corporate credit facilities (parent bank) y y y
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4 41 CRE: Attractive, diversified portfolio 98 % of tenants have contracts that are 100 % indexed (to CPI). Rental space attractivity Geographical distribution of rental space LTV for CRE portfolio Share of rental space according to type Share of rental space at different indexation y
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42 CRE: Solid collateral Loan portfolio is well positioned for higher yields in the commercial real estate market. * Exposures of at least NOK 10 mill. Share of lending according to LTV – CRE*Share of LTV by exposure – CRE*
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43 Projects: Low activity for building projects Required pre-sales normally 60 %, depending for example on equity, experience and complexity. Draw on construction loans, volume-weighted, share in %, *Loans to real estate projects, building and construction, NOK bill.* y y
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44 Headcount Full-time equivalents in parent bank and subsidiaries F F The Bank has implemented several measures to streamline the organisation.
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In line with dividend policy, for owners and society (through primary capital) Profit after controlling interest NOK 3,377 mill. Primary capital NOK 906 mill. Owners NOK 2,471 mill. Dividends NOK 1,725 mill./12.70 per ECC Dividend equalisationfund NOK 792 mill. Customerdividends/gifts NOK 582 mill NOK 51 mill. Primary capital provision NOK 290 mill. Dividends for the owners and customers equal 70 % of the Group’s profit after tax1) Sparebank- stiftelsen Hedmark NOK 767 mill. Gifts and donations 44.5% 1) ’ provisions, fund for unrealised gains and non-controlling interests have been excluded. Moreover, the allocation of profits is based on profit after taxes in the parent bank while the dividend policy regards Group profits after taxes.. ILLUSTRATION Profit allocation for 2025 45 Totens Sparebank- stiftelse NOK 149 mill. 8.6% The foundations
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y y 5 46 SPOL Price development (dividend adjusted), index = 100 pr -2 years Turnover and SPOL price, monthly 1) SpareBank 1 Østlandet was listed on 13 June 2017. 2) APMs are defined in the factbook. 3) Profit after tax for controlling interests x Equity capital certificate ratio*/ number of ECC's. J J J J