Sparebank 1 Smn · OSL:MING
Sparebank 1 Smn — Q3 2025 Earnings Presentation
39 slides from Sparebank 1 Smn's earnings presentation, Oct 29, 2025
Slide 1: Third quarter 2025
Third quarter 2025 MÅ FÅ ORGINALBILDE 29. October 2025 Trond Søraas CFO Photo: Blåhøtjønna, Oppdal
Slide 2: Q3 2025 Profitable and solid
Q3 2025 Profitable and solid • Return on equity of 15.9% in Q3 and 15.3% YTD • High activity levels in banking and realtor accountancy reflects normal seasonal variations • Strong contributions from ownership interests solid insurance results and a gain of NOK 42 million related to the establishment
Slide 3: High value creation over time
High value creation over time 3
Slide 4: Solid profitability growth across all business segments
Solid profitability growth across all business segments Pre-tax profit year-to-date (mill NOK) 4
Slide 5: Our most profitable synergy is providing financing
Our most profitable synergy is providing financing Accounting • We have one customer – not four. By working Advisors with specialized expertise offering services in accounting, across units, we create added value for both finance, and technology. Accounting, HR-services, payroll, IT- customers and t
Slide 6: One SMN – the strategy is to be further refined
One SMN – the strategy is to be further refined Key development areas Finance centres World-class customer experiences Mobile banking The ’ first choice – simple, fast, and The foundation remains firm relevant We aim to be an independent regional bank with strong rooths in Central Artificial Intelli
Slide 7: Opening the doors for customers in Nordmøre region
Opening the doors for customers in Nordmøre region Opening of finance centre in Kristiansund Breakfast meeting Cultural events All services under one roof • Advice for individuals at all stages of life • Buying and selling private homes, holiday properties, and commercial real estate • Comprehensive
Slide 8: Strong presence in Trondheim
Strong presence in Trondheim Close and accessible with three finance centres Strengthened market position Primary bank share Trondheim (per cent) «Which bank do you consider as your primary bank?» Moholt / Lyngården City centre / Søndre gate Source: Kantar Position survey retail market 2025 Heimdal
Slide 9: Going Nordic with SB1 Markets
Going Nordic with SB1 Markets • Strategic partnership with Swedbank • Goal: establish a leading Nordic investment bank • Stockholm office opened on September 1, 2025 • Significant opportunities for cross-selling between banking and capital markets • Strenghtened expertise also boosts operations in N
Slide 10: The meeting place for all of Central Norway
The meeting place for all of Central Norway Valuable days This autumn, we have hosted a series of gatherings across Central Norway. The goal has been to give customers better insight into their own finance through a broad program of expert sessions and social events 10
Slide 11: Offer to purchase equity certificates for Executive Management
Offer to purchase equity certificates for Executive Management • The Board of Directors has resolved to offer the Group CEO and other members of the executive management team a one-time opportunity to purchase equity certificates in SpareBank 1 SMN • Under the scheme, the Group CEO may acquire up to
Slide 12: Financial Information
Bank SpareBank 1 Feactey sMN Accounting Financial Information
Slide 13: Q3 2025 Year-to-date
Q3 2025 Year-to-date 15.9 % Lending growth Retail banking 0.8% 1.3% 15.3% Return on equity Corporate banking - 0.2% Return on equity NOK 1,171 mill Deposit growth Retail banking -0.3% -2.0% NOK 3,305 mill Profit after tax Corporate banking 2.1% Profit after tax Operating margin subsidiaries 17.8% Re
Slide 14: Achieving financial targets
Achieving financial targets Return on equity (per cent) Solidity (per cent) > Cost/income bank ex. finance (per cent) Cost/income subsidiaries ex. finance (per cent) 14
Slide 15: Growth and margins in Retail Banking - quarterly
Growth and margins in Retail Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M 15
Slide 16: Growth and margins in Corporate Banking - quarterly
Growth and margins in Corporate Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M 16
Slide 17: Results
Results Change Change from NOK mill Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 from Q2 25 Q3 24 Net interest income 1.337 1.335 1.321 1.372 1.355 2 -18 Commission income and other income 619 730 648 580 553 -110 67 Operating Income 1.956 2.065 1.969 1.953 1.908 -109 48 Total operating expenses 833 917 859 901 81
Slide 18: Income
Income Net interest income and other income (NOKm) Commission income C ha nge C ha nge NOK mill Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 f ro m Q 2 2 5 f ro m Q 3 2 4 Payment transmission income 87 80 80 107 79 7 8 Credit cards 11 9 13 18 18 2 -7 Commissions savings and asset mgmt 13 17 12 13 13 -4 0 Commissio
Slide 19: Costs
Costs Total operating expenses per quarter (NOKm) Costs per category • Cost reduction from Q2 mainly driven by accrual for incurred costs to Tietoevry for the period 2023 through Q2 2025, amounting to NOK 47 million, in Q2 2025 • Compared to Q3 2024 the group costs have increased by 2.9 per cent • A
Slide 20: Broad product range and a diversified income platform
Broad product range and a diversified income platform Ownership interests Profit after tax (NOKm) 20
Slide 21: Losses
Losses Loan losses (NOKm) Distribution of losses in the quarter (NOKm) 21
Slide 22: Solidity
Solidity CET 1 Leverage ratio q q ’ q -capital. The bank is subject to a provisional add-on of 0.7 per cent to its Pillar 2 requirement. Until the application for adjustment of IRB models has been processed the CET1 requirement is 16.95% 22
Slide 23: MING – an attractive investment
MING – an attractive investment Profitable, solid and with a shareholder-friendly dividend policy Market leader in Central Norway High share of commission income from subsidiaries and product companies Significant value from ownership within and outside the SpareBank 1 Alliance Well-positioned for s
Slide 24: Disclaimer
Disclaimer This presentation contains certain forward-looking statements relating to the business, financial performance and results of SpareBank 1 SMN and/or the industry in which it operates. Forward- looking statements concern future circumstances and results and other statements that are not his
Slide 25: Appendix
Bank SpareBank 4 | teator Soy counting Appendix
Slide 26: Macro in Mid-Norway
Macro in Mid-Norway Unemployment Housing market dynamics Mid-Norway Wholly unemployed as a percentage of the labor force Norge Trøndelag Møre og Romsdal Development in housing prices Number of bankruptcies in Trøndelag, Møre & Romsdal Seasonally adjusted prices 100 Q3 25 Sources: NAV, SSB housing pr
Slide 27: Profitable and solid
Profitable and solid Return on equity CET1 ratio Result per ECC Loan losses in per cent of total lending 27
Slide 28: Diversified deposit portfolio
Diversified deposit portfolio Deposits by sector (NOKbn) Deposits covered by the deposit Liquidity Coverage Ratio guarantee scheme as at 30.09.25 (LCR) (NOKbn) Public sector deposits are not covered by the guarantee scheme, but are mostly bound by contractual obligations 28
Slide 29: Well diversified lending portfolio dominated by mortgages
Well diversified lending portfolio dominated by mortgages Loans per sector as at 30. September 2025 and change last 12 months (NOKbn) q 29
Slide 30: Commercial property, construction, building
Commercial property, construction, building Share of commercial real estate exposure Rental properties make up 77 per cent of the banks CRE in the corporate lending book* exposure, mainly to retail trade, industry/storage and offices Distribution of property per Distribution of area Q3 2025 per Q4 2
Slide 31: Robust mortgage portfolio
Robust mortgage portfolio Loan-to-value ratio in the mortgage portfolio Risk weight mortgages Share of mortgages by LTV 31
Slide 32: Problem loans
Problem loans Bl Lending to customers in stage 3 = % of gross lending 0.99% 0.97% 096% ee 0.98% ----e-ee . oom 0.92% * .0.88% porte 089% eS ys ’ a s ,084% 0.86% *~_ 082% a tele “7 wey 0.78% .° 2291 2,289 2311 2,044 2,065 2,085 2260 2.231 2,136 2,204 i i i i i i Q4 22 Q123 Q2 23 Q3 23 Q4 23 Q124 Q2 2
Slide 33: Subsidiaries
Subsidiaries Change Change NOK mill, SMN's share in parentheses Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 from Q2 25 from Q3 24 EiendomsMegler 1 Midt-Norge (92.4%) 21 42 8 -1 8 -21 13 SpareBank 1 Regnskapshuset SMN (93.3%) -7 57 52 -3 -7 -64 0 SpareBank 1 Finans Midt-Norge (64.8%) 66 68 69 87 68 -2 -2 SpareBank
Slide 34: Product companies
Product companies Change Change NOK mill, SMN's share in parentheses Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 from Q2 25 from Q3 24 SpareBank 1 Gruppen (19.5%) 136 114 59 99 86 22 50 Gain from merger between Fremtind/Eika 452 -452 SpareBank 1 Boligkreditt (22,2%) 41 16 24 23 37 25 4 SpareBank 1 Næringskreditt
Slide 35: Return on financial investments
Return on financial investments Change from Change from NOK mill Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 Q2 25 Q3 24 Net gain/(loss) on stocks 42 23 25 44 -1 19 43 Net gain/(loss) on financial instruments 26 -3 -39 -47 -45 29 71 Net gain/(loss) on forex 6 -5 -2 42 24 11 -19 Net return on financial instruments
Slide 36: Equity certificate, key figures
Equity certificate, key figures Key figures Q3 2025 2024 2023 2022 2021 ECC ratio 66,8 % 66,8 % 66,8 % 64,0 % 64,0 % Total issued ECCs (mill) 144,19 144,21 144,20 129,29 129,39 ECC price 193,66 171,32 141,80 127,40 149,00 Market value (NOKm) 27.923 24.706 20.448 16.471 19.279 Booked equity capital p
Slide 37: Balance sheet
Balance sheet NOKbn 30.9.25 30.9.24 Cash and receivables from central banks 1,1 1,1 Deposits with and loans to credit institutions 10,3 8,1 Net loans to and receivables from customers 184,3 178,6 Fixed-income CDs and bonds 35,1 36,0 Derivatives 6,1 6,6 Shares, units and other equity interests 1,0 0,
Slide 38: Maturity structure
Maturity structure SP, SNP. Final maturity NOKbn 38
Slide 39: Development in CET1 capital and capital adequacy
Development in CET1 capital and capital adequacy CET1 ratio in per cent q q 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 CET1 8,254 9,374 10,679 12,192 13,223 13,820 14,727 15,830 17,041 17,790 19,776 21,589 22,4