Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — SpareBank 1 Østlandet — Q3 2025 Earnings Presentation
49 slides from Sparebank 1 Ostlandet's earnings presentation, 2025
Slide 1: 3Q Quarterly presentation
3Q Quarterly presentation Third quarter 2025
Slide 2: 3Q: Solid profitability
3Q: Solid profitability Return on equity (%) • Return on equity of 13.5 %. Strong contributions from all income lines but higher loan losses. • Very strong development in net interest income. The bank is increasing its market share in the retail market, although competition remains intense with sign
Slide 3: Financial targets
Financial targets > 13 % > 50 % 16.1 % Profitability Dividends Solidity Achievements year-to-date 14.1 % 62 % 17.3 % 3
Slide 4: Macro backdrop is improving
Macro backdrop is improving Activity in market area has been lower than elsewhere in Norway, due to rate rate-sensitive sectors including construction. Still only a moderate rise in unemployment and bankruptcies. Activity in housing market is high. Norges Banks regional indicators Number of bankrupt
Slide 5: Retail market: Increased market share
Retail market: Increased market share Proforma excl. margins Another quarter of high market activity, with the bank increasing its market share in a highly competitive market with rising margin pressure. Particularly strong new sales among first-time buyers. Loan volume and growth (NOK bill. and %)*
Slide 6: Corporate market: Moderate activity levels
Corporate market: Moderate activity levels Proforma excl. margins Market area growth is moderate, and the loan portfolio has remained stable. Good supply of potential projects, but many clients remain undecided. Increased focus on internal collaboration to boost non-interest income. Loan volume and
Slide 7: Several dimensions when increasing profitability
Several dimensions when increasing profitability > 13 % Cost focus and internal efficiency Customer focus Good ALM and increased income
Slide 8: Investing for the future
Investing for the future Bank has invested significantly in 2025 to simplify operations, redesign customer journeys, and modernize the organization. Investments implies high costs this year but lay the foundation for a more profitable bank in the future. • Toten merger: A merger to model. The portfo
Slide 9: Succesful initiative in Drammen
Succesful initiative in Drammen A new financial center opened in May. Initiative has delivered excellent results so far, well above expectations. Brokerage offices are being established. Bank has a strong local presence, recently through SME-focused profiling. 9
Slide 10: LO-agreement opens many doors for the bank
LO-agreement opens many doors for the bank Relationship with trade union increases the bank's visibility, provides strong volume growth, and gives the bank the chance to talk to large customer groups about personal finances. Share of retail loans Share new loans, volume Share new loans, 18-33 yrs Sh
Slide 11: Satisfied customer and strong customer relations
Satisfied customer and strong customer relations SpareBank 1 Østlandet is best of the large banks in this ’ EPSI customer satisfaction survey for the retail market. EPSI (SATISFACTION) – STRONG RESULTS IN 2025 BANK SURVEY STRONG CUSTOMER RELATIONS (KRI) IN 2025 0-35 76-100 36-49 50-64 65-75 Very Ver
Slide 12: Together we develop Eastern Norway
Together we develop Eastern Norway 12
Slide 13: 3Q Financial accounts
3Q Financial accounts Third quarter 2025 13
Slide 14: Income statement
Income statement Proforma Chg. in operating profit after tax (NOK mill.), from previous quarter Chg. in operating profit after tax (NOK mill.), from last year * Net interest income includes commission fees from covered bond companies. 14
Slide 15: Net interest income
Net interest income Proforma Net interest income, including commission income from covered bond companies, increased by 2.2% from the previous quarter, driven by strong volume growth and improved margins. Net interest income incl. commissions from covered bond companies (MNOK and %) 15
Slide 16: Commission income
Commission income Proforma Net commissions and other income (NOK million) * Excludes commission income from the covered bond companies. 16
Slide 17: Profits in subsidiaries
Profits in subsidiaries Proforma Profits after tax in subsidiaries (NOK million) * EiendomsMegler 1 Oslo Akershus AS, and EiendomsMegler 1 Innlandet AS merged with accounting effect from January 1, 2025. Comparative figures are shown aggregated. 17
Slide 18: Profits in joint ventures
Profits in joint ventures Profits after tax in joint ventures (NOK million) 18
Slide 19: Net income from financial assets and liabilities
Net income from financial assets and liabilities Proforma Net income from finance (NOK million) 19
Slide 20: Operating expenses
Operating expenses Proforma Operating expenses (NOK million) 20
Slide 21: Operating expenses
Operating expenses Proforma Changes in operating expenses (NOK million), from last year Quarterly cost income ratios 21
Slide 22: Loan loss provisions
Loan loss provisions Proforma Quarterly loan loss provisions 22
Slide 23: Exposures per stage and credit loss provision ratio in stage 3
Exposures per stage and credit loss provision ratio in stage 3 Exposure by stages (% of gross loans)* Loans in Stage 3 (NOK mill.) * Excluding loans transferred to covered bond companies. Residual up to 100 per cent is due to loans at fair value over profit. 23
Slide 24: A solid loan portfolio
A solid loan portfolio Bank closely follows up payment problems, but few customers experience problems. Share of retail customers with interest-only mortgage, %* Mortgages to debt collection (volume)* Use of corporate credit facilities (parent bank)* LTV commercial real estate* * Based on numbers fo
Slide 25: Capital levels
Capital levels Common equity Tier 1 capital ratio 25
Slide 26: Together we develop Eastern Norway
Together we develop Eastern Norway
Slide 27: Why invest in SPOL?
Why invest in SPOL? UNCOMPLICATED \/, Uncomplicated bank | [ | — BRAND — O Strong and distinct brand with low credit risk with high customer satisfaction SOLID Solid bank with significant growth / \ capacity ~~) SUSTAINABILITY Recognised and clear driver of sustainable transition PROFITABLE High ear
Slide 28: Contact details
Contact details investor@sb1ostlandet.no 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 28
Slide 29: Disclaimer
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. Ac
Slide 30: Appendix
Appendix 30
Slide 31: Good feedback on our work on CSR
Good feedback on our work on CSR 32
Slide 32: Headcount
Headcount Full-time equivalents in parent bank and subsidiaries * EM1 Innlandet and EM1 Oslo/Akershus merged with accounting effect on January 1, 2025. In the figure, EM1 Østlandet corresponds to EM1 33 Oslo/Akershus before January 1.
Slide 33: Group volumes and margin development
Group volumes and margin development Proforma excl. margins Loan volume and growth (NOK bill. and %)* Deposit volume and growth (NOK bill. and %) Margins, parent bank (%)** 4 * Includes loans transferred to the covered bond companies. ** Based on allocation of customer loans between retail and corpo
Slide 34: Well diversified loan portfolio
Well diversified loan portfolio Lending to customers per sector (in %) Corporate market 27.9 % / 66,401 Retail market 72.1 % / 171,958 35
Slide 35: The Group's lending by geography
The Group’s lending by geography Lending to customers per county (share in %/NOK million) Change last 12 months (%) 36
Slide 36: Mortgage loans by geography
Mortgage loans by geography Retail lending by county (share in %/NOK million) Change last 12 months (%) 37
Slide 37: Corporate market lending by geography
Corporate market lending by geography Corporate lending by county (share in %/NOK million) Change last 12 months (%) 38
Slide 38: Rate sensitive volume
Rate sensitive volume Loans and deposits, NOK bill. Securities, NOK bill.* * Covered bonds refer to loans transferred to covered bond companies. 39
Slide 39: Rate fixings of funding and security holdings
Rate fixings of funding and security holdings Net rate fixings per month, share of quarter** NIBOR and commission rate SB1 Boligkreditt, % * Includes rate fixings on liquidity portfolio, debt securities issued on own balance, and interest rate/cross currency basis swaps. 40
Slide 40: Retail: Indicators of underlying credit quality
Retail: Indicators of underlying credit quality Retail customers with interest-only mortgage* Mortgages to debt collection (volume)* Arrears retail market, NOK mill.** 4 * Based on numbers for parent bank excl. Toten. ** Does not include loans transferred to SpareBank 1 Boligkreditt. 41
Slide 41: Retail: Mortgage collateral
Retail: Mortgage collateral Share of LTV by exposure – retail mortgages* Share of lending according to LTV - retail mortgages* * Including loans transferred to SpareBank 1 Boligkreditt. 42
Slide 42: Stable low LTVs in new mortgage approvals
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 Based on numbers for parent bank excl. Toten portfolio. 43
Slide 43: Corporate: Indicators of underlying credit quality
Corporate: Indicators of underlying credit quality Use of corporate credit facilities (parent bank)* Corp. arrears below 90 days (NOK mill.)* * Based on numbers for parent bank excl. Toten portfolio, with exposures of at least NOK 10 mill. 44
Slide 44: CRE: Attractive, diversified portfolio
CRE: Attractive, diversified portfolio 96 % of tenants have contracts that are 100 % indexed (to CPI). * Rental space attractivity Geographical distribution of rental space LTV for CRE portfolio 4 Share of rental space according to type Share of rental space at different indexation 45 * Based on num
Slide 45: CRE: Solid collateral
CRE: Solid collateral Loan portfolio is well positioned for higher yields in the commercial real estate market. Share of LTV by exposure – CRE* Share of lending according to LTV – CRE* * Based on numbers for parent bank excl. Toten portfolio, with exposures of at least NOK 10 mill. 46
Slide 46: Projects: Low activity for building projects
Projects: Low activity for building projects Required pre-sales normally 60 %, depending for example on equity, experience and complexity. Loans to real estate projects, building and construction, NOK bill.* Draw on construction loans, volume-weighted, share in %, * * Based on numbers for parent ban
Slide 47: Profit allocation for 2024
Profit allocation for 2024 In line with dividend policy, for owners and society (through primary capital) ILLUSTRATION Gifts and donations Profit after controlling interest The foundations NOK 3,206 mill. Totens Sparebank- Sparebank- stiftelsen stiftelse Hedmark Owners Primary capital NOK 121 mill.
Slide 48: SPOL
SPOL Price development (dividend adjusted), index = 100 pr 30 Jun-23 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. 49
Slide 49: Together we develop Eastern Norway
Together we develop Eastern Norway
SpareBank 1 Østlandet — Q3 2025 Earnings Presentation on 6ix