Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — SpareBank 1 Østlandet — Q1 2026 Earnings Presentation
49 slides from Sparebank 1 Ostlandet's earnings presentation, 2026
Slide 1: 1Q Quarterly presentation First quarter 2026
1Q Quarterly presentation First quarter 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although SpareBank 1 Østlandet believes that the expectations reflected in such forward-looking statements are reasonabl
Slide 3: A good start to 2026
A good start to 2026 Return on equity (%) • A good quarter, with a return on equity of 12.4 per cent. Provisions of NOK 80 million to voluntary severance agreements had a negative impact on returns. • Net interest income including commissions from covered bond companies, declined by 6.4 per cent qoq
Slide 4: Financial targets
Financial targets > 13 % < 40 % > 50 % 15.9 % Profitability Costs* Dividends Solvency Year to date performance 12.4 % 48.2 % 70 % 17.8 % * Excl. costs related to merger. 4
Slide 5: Community through ownership
Community through ownership Long-term ownership through the savings bank foundations «Profits to share» «Carrying forward the legacy of Toten Sparebank” Distributed in 2025: 206 MNOK Distributed in 2025: 40 MNOK Received 767 MNOK in dividends for 2025 Received 149 MNOK in dividends for 2025
Slide 6: Profits to the community
Profits to the community Customer dividend since 2017 2.889 MNOK Customer dividend in 2025 of 582 MNOK
Slide 7: Building communities
Building communities Stronger, more resilient communities Foto: Alexander Lentille Foto: Vålerenga Foto: Alexander Lentille
Slide 8: Financial security
Foto: NTNU Financial security Build expertise and combat financial crime
Slide 9: Strong presence in Eastern Norway
Strong presence in Eastern Norway Office structure and opening hours were revised in January. Continued focus on an efficient and relevant presence, including potential new locations and strengthening of existing ones. Financial Meeting Advisory office centre place
Slide 10: New head office
New head office Modern workplaces and local community development with Hamar Science Park
Slide 11: Together we develop Eastern Norway
Together we develop Eastern Norway
Slide 12: 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 13: Retail market: Strong momentum
Retail market: Strong momentum Proforma excl. margins Increased market shares, particularly especially towards quarter-end and in the capital region. Offensive initiatives delivering positive results. Margin pressure from strong competition, partly offset by high commission income. Loan volume and g
Slide 14: Corporate market: Still moderate activity levels
Corporate market: Still moderate activity levels Proforma excl. margins Growth remains mo erate, an the Bank’s loan portfolio is stable Competition impacts margins Customer satisfaction in the corporate market division is very high, positioning the Bank for when conditions improve. Loan volume and g
Slide 15: Strong rise in commission income
Strong rise in commission income Broad-based growth. Insurance revenues are up 43% over the past two years, driven by strong growth in savings plan sales, pension savings (EPK), and continued high activity in Private Banking. Selected commission income, 4 qrt. rolling sum, MNOK avings pro ucts nsura
Slide 16: Enhanced focus on cost efficiency
Enhanced focus on cost efficiency The bank aims for the Group’s cost level in not to excee the costs of . This will be achieved through various operational changes, including changes to the branch network and the customer service center, reduced procurement, as well as lower staffing levels, targete
Slide 17: 1Q Financial accounts
1Q Financial accounts First quarter 2026 17
Slide 18: Income statement
Income statement Chg. in operating profit after tax (NOK mill.), from previous quarter Chg. in operating profit after tax (NOK mill.), from last year et interest et et profit Total mpairment on Tax expense et interest et et profit Total mpairment on Tax expense income commisions from financial opera
Slide 19: Net interest income
Net interest income Proforma The Bank’s interest rate changes in eptember took full effect for existing resi ential mortgage customers from November. Net interest income incl. commissions from covered bond companies (MNOK and %) , , , , , , , et interest income , , Commission fees from covere bon co
Slide 20: Commission income
Commission income Proforma The gain from the sale of Youngstorget 5 AS contributed to an increase in other income of NOK 163 million in 4Q-25. Net commissions and other income (NOK million) Commission income from cre it car s a ment services Commissions from insurance Commissions from savings Commis
Slide 21: Profits in subsidiaries
Profits in subsidiaries Proforma Record strong results at SB1 Finans Østlandet. Profits after tax in subsidiaries (NOK million) parebank inans stlan et Totens Boligkre itt ien oms egler stlan et pareBank orretnings artner stlan et Group * Company has been liquidated. ** Merger-related costs for the
Slide 22: Profits in joint ventures
Profits in joint ventures Profits after tax in joint ventures (NOK million) pareBank Gruppen Group pareBank orvaltning pareBank Boligkre itt pareBank ringskre itt re ittbanken pareBank Betaling B Bank ther ventures 22
Slide 23: Net income from financial assets and liabilities
Net income from financial assets and liabilities Proforma Net income from finance (NOK million) ivi en s from shares an other e uit instruments hare of profit or loss of associates an oint ventures et profit from other financial assets an liabilities 23
Slide 24: Operating expenses
Operating expenses Proforma An provision of NOK 80 million was made in the first quarter for a voluntary severance programme in connection with the Bank’s Operating expenses (NOK million) workforce reduction plan. , , , , , , , , , ersonnel expenses epreciation amortisation CT expenses arketing expe
Slide 25: Operating expenses
Operating expenses Proforma Changes in operating expenses (NOK million), from last year Quarterly cost income ratios arent bank inans orretnings ther stlan et stlan et artner changes Group Group excl merger costs 25
Slide 26: Loan loss provisions
Loan loss provisions Proforma The unusually high credit loss expenses in the retail market are related to two individual exposures. Quarterly loan loss provisions , , , , , , , , etail market , Corporate market pareBank inans stlan et Change in mo el base loss provisions Change in ivi ual loss provi
Slide 27: 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.) , , , , , tage tage tage rovisions for cre it losses Gross loans Cre it loss provision ratio * Excluding loans transferred to covered bond companies. Residual up to 100
Slide 28: A solid loan portfolio
A solid loan portfolio Credit indicators remain stable, confirming a solid loan portfolio. Share of retail customers with interest-only mortgage, %* Arrears retail market, NOK mill.** , , , , , rrears ver raws a s a s rrears in of gross loans Corp. arrears below 90 days (NOK mill.) LTV commercial re
Slide 29: Capital levels
Capital levels Common equity Tier 1 capital ratio C T capital ratio Tier capital ratio Capital a e uac ratio everage atio e uirement Common e uit Tier capital ratio anagement buffer per e uirements 29
Slide 30: 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 30
Slide 31: Appendix
Appendix 31
Slide 32: 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 33: Headcount
Headcount Full-time equivalents in parent bank and subsidiaries , , , , , pareBank inans stlan et ien oms egler nnlan et ien oms egler stlan et pareBank orretnings artner stlan et pareBank stlan et * EM1 Innlandet and EM1 Oslo/Akershus merged with accounting effect on January 1, 2025. In the figure,
Slide 34: 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 Gross len ing group mth growth Gross len ing group mth growth en ing margin eposit margin * Includes loans transferred to mor
Slide 35: Well diversified loan portfolio
Well diversified loan portfolio Lending to customers per sector (in %) Corporate market otel an restaurants 27.5 % / 66,135 Transport an communication Buil ing an constructions holesale an retail tra e ower an water suppl ther Commercial services ublic sector rimar in ustries eal estate incl B rings
Slide 36: 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 (%) nlan , slo , kershus , ther areas , 37
Slide 37: Mortgage loans by geography
Mortgage loans by geography Retail lending by county (share in %/NOK million) Change last 12 months (%) nlan , , slo , , kershus , , Tr n elag estlan estfol ther areas , ther areas , re og oms al ogalan Buskeru stfol 38
Slide 38: Corporate market lending by geography
Corporate market lending by geography Corporate lending by county (share in %/NOK million) Change last 12 months (%) nlan , slo , kershus , ther areas , 39
Slide 39: Rate sensitive volume
Rate sensitive volume Loans and deposits, NOK bill. Securities, NOK bill.* Gross loans excl Covere bon s ibor linke an ecurities isse , own balance loans sheet ibor linke i ui it loans portfolio oans in subsi iaries eposits excl ibor linke ibor linke eposits * Covered bonds refer to loans transferre
Slide 40: Retail: Indicators of underlying credit quality
Retail: Indicators of underlying credit quality Retail customers with interest-only mortgage* Arrears retail market, NOK mill.** , , , , , rrears ver raws a s a s rrears in of gross loans * Based on numbers for parent bank excl. Toten. ** Does not include loans transferred to SpareBank 1 Boligkredit
Slide 41: Retail: Mortgage collateral
Retail: Mortgage collateral Share of LTV by exposure – retail mortgages* Share of lending according to LTV - retail mortgages* n er T T T ver T * 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 hare of new mortgage approvals volume verage T at the time of approval ast ast ast ast ast
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.) , , , , se of operating cre it facilit nnual average rrears ver raws a s a s rrears in of gross loans * Based on numbers for parent bank excl. Toten portfolio,
Slide 44: CRE: Attractive, diversified portfolio
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 cceptable slo ormal nlan Central kershus Best ther 4 Share of rental space according to type Share of ren
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 %, * , , , , , , , , , , , , , , , , ,
Slide 47: Profit allocation for 2025
Profit allocation for 2025 In line with dividend policy, for owners and society (through primary capital) ILLUSTRATION Gifts and donations Profit after controlling interest The foundations NOK 3,377 mill. Totens Sparebank- Sparebank- stiftelsen stiftelse Hedmark Owners Primary capital NOK 149 mill.
Slide 48: SPOL
SPOL Price development (dividend adjusted), index = 100 pr -2 years CC ratio CC issue , , , , , , ai ul ep ov an ar ai ul ep ov an ar arket price B arket capitalisation million , , , Book e uit per CC Turnover and SPOL price, monthly arnings per CC, rice arnings per CC rice book e uit 1) SpareBank 1
Slide 49: Together we develop Eastern Norway
Together we develop Eastern Norway
SpareBank 1 Østlandet — Q1 2026 Earnings Presentation on 6ix