Dnb Bank Asa · OSL:DNB
Dnb Bank Asa — Debt Investor Presentation (October 2025)
30 slides from Dnb Bank Asa's debt investor presentation, Oct 22, 2025
Slide 1: Green Finance Framework
Green Finance Framework 22 October 2025
Slide 2: Summary
Summary DNB’s Green Finance Framework – Issuance of green covered-, senior- and tier 2 bonds Proceeds will be used to finance green residential buildings, renewable energy and clean transportation Structured in line with the ICMA Green Bond Principles and partially aligned with the EU Taxonomy Secon
Slide 3: Use of proceeds - overview
Use of proceeds - overview DNB Boligkreditt AS DNB Bank ASA Green Residential Green Residential Renewable Energy Clean Transportation Buildings Buildings New or existing New or existing ▪ Solar power projects ▪ Zero Carbon Vehicles residential buildings in residential buildings in Norway: Norway: ▪
Slide 4: Green Residential Buildings
Green Residential Buildings ~NOK 115 bn eligible green assets ▪ Identification of the most energy efficient (low carbon) buildings: ▪ Residential buildings completed in the period from 2012 to 2020 (complying with TEK10 & TEK17 building codes)1) ▪ Residential buildings completed in 2021 or later com
Slide 5: Renewable Energy
Renewable Energy ~NOK 31 bn eligible green assets ▪ Solar power ~NOK 13 bn ▪ Photovoltaic and concentrated solar power energy projects ▪ Wind power ~NOK 10 bn ▪ Onshore and offshore wind energy projects ▪ Hydro power ~NOK 3 bn One of the following requirements are met: ▪ the facility is a run of riv
Slide 6: Clean Transportation
Clean Transportation ~NOK 57 bn eligible green assets ▪ Zero carbon vehicles ▪ Fully electric, hydrogen or otherwise zero direct (tailpipe) emissions vehicles for the transportation of passengers or freight ▪ Zero carbon transportation infrastructure ▪ Infrastructure related to zero direct (tailpipe
Slide 7: Second party opinion
Second party opinion ▪ “Sustainalytics is confident that DNB is well positioned to issue green bonds and loans and that the DNB Bank ASA Green Finance Framework is robust, transparent and in alignment with the four core components of the Green Bond Principles 2021 and Green Loan Principles 2023” ▪ “
Slide 8: EU taxonomy assessment
EU taxonomy assessment Performed by Alignment % ~60% aligned (NOK ~121bn / NOK ~203bn total portfolio) Eligible Green Renewable Energy Green Residential Buildings Clean Transportation Asset Category (Wind, Solar & Hydropower) EEA + UK Rest of World Norway, Sweden, Denmark, Geography Norway 22% of Re
Slide 9: Management of proceeds
Management of proceeds Eligible green Green bonds asset portfolio (fully allocated at issuance) ▪ The proceeds of the green finance instruments issued will be managed in a portfolio approach ▪ DNB will strive, over time, to achieve a level of allocation for the Eligible Green Loan Portfolio which ma
Slide 10: Allocation
Allocation Portfolio date: 31 December 20241) Green Loan Portfolio: Green Buildings NOK ~115 bn Renewable Energy2) NOK ~31 bn Clean Transportation NOK ~57 bn Total eligible green loan portfolio NOK ~203 bn Total outstanding Green Bonds NOK ~165 bn Percentage of Eligible Green Loan Portfolio allocate
Slide 11: Impact – Avoided CO2 emissions
Impact – Avoided CO2 emissions Portfolio date: 31 December 20241) Eligible portfolio Total annual avoided emissions Eligible Project Category (approx. NOK m) in tons of CO2 /year Green Buildings 114 773 8 2601) Renewable Energy 30 833 1 289 3922) Clean Transportation 57 467 153 4501) Total 203 073 1
Slide 12: Further information and contact details
Further information and contact details For further information see: https://www.ir.dnb.no/funding-and-rating/green-bond-framework For credit related information see: Debt Investor Presentations For other information see: https://www.ir.dnb.no/funding-and-rating Thor Tellefsen Magnus Midtgård Christ
Slide 13: Appendix
Appendix DNB 13
Slide 14: Green Finance Framework
Green Finance Framework ▪ Structured in line with the ICMA Green Bond Principles ▪ Partially aligned with the EU Taxonomy Use of Proceeds Process for Project Management of Reporting External Review Evaluation and Proceeds Selection ▪ Green residential ▪ In accordance with ▪ Managed by DNB ▪ Annual ▪
Slide 15: Reporting – Allocation
Reporting – Allocation Eligible Green Loan Portfolio (portfolio date 31 December 2024) Outstanding Green Bonds per asset class (as of September 2025)1) Amount (approx. Amount (approx. Instrument NOKm) NOKm) Green Buildings DNB 95 922 Covered Bonds 50 384 Boligkreditt Green Buildings DNB Bank ASA 18
Slide 16: Reporting – Impact
Reporting – Impact Portfolio date: 31 December 20241) Share of Share of Direct Indirect Eligible Total Total Eligible Total Total Eligibilit emissions emissions Eligible Green Eligibility Estimated installed annual Eligible Green Green Green y for avoided vs avoided vs portfoli Covered for Green red
Slide 17: DNB green bonds
DNB green bonds Type Volume Tenor Call date Maturity Covered SEK 7 150 mn 3 years 2027 – Jan FXD and FRN Covered SEK 5 750 mn 5 years 2029 – Jan Covered SEK 10 700 mn 5 years 2029 – Sep FXD and FRN Covered SEK 8 200 mn 5 years 2030 – Aug FXD and FRN Covered EUR 1 500 mn 10 years 2031 – Jan Senior Pr
Slide 18: DNB green bonds cont.
DNB green bonds cont. Type Volume Tenor Call date Maturity Senior Non-Preferred EUR 750 mn 6NC5 2028 – Nov 2029 – Nov Senior Non-Preferred USD 40 mn 5NC4 2029 – Aug 2030 – Aug Senior Non-Preferred EUR 1 000 mn 6NC5 2029 – Nov 2030 – Nov Senior Non-Preferred EUR 750 mn 6NC5 2030 – May 2031 – May Seni
Slide 19: ESG and Sustainability in DNB
ESG and Sustainability in DNB ▪ Ratings: ▪ Sustainalytics: 17.6 (Low Risk) Mgt. Score: 64.5 (Strong) ▪ ISS ESG Corporate Rating: C+ (Prime) ▪ MSCI ESG Ratings: AAA ▪ CDP: A- (Leadership) 19
Slide 20: DNB will be a driving force for sustainable transition
DNB will be a driving force for sustainable transition Net zero emissions in By 2030 mobilise 2050 NOK 1500 bn from our financing and investment activities and own to the sustainable transition through lending and operations facilitation Transition plan outlining DNB’s science-based Increase total a
Slide 21: Transition plan launched in October 2023 – 2030 targets for lending
Transition plan1) launched in October 2023 – 2030 targets2) for lending Segment 2030 interim targets Emission scope Home mortgages -47% kgCO2e/m²/year 1 and 2 Housing cooperatives -50% kgCO2e/m²/year 1 and 2 Commercial real estate -29% kgCO2e/m²/year 1 and 2 Shipping -33% g CO2/tonne/nautical mile 1
Slide 22: Selected sector specific targets for DNB’s lending portfolio
Selected sector specific targets for DNB’s lending portfolio 22
Slide 23: Attainment financing target and EU taxonomy reporting
Attainment financing target and EU taxonomy reporting Finance and facilitate NOK 1,500 bn for sustainable activities by 2030 Transition loans 6 Green guarantees 37 1,500 Sustainability-linked 37 loans 22 1,000 877 Green loans 20 13 17 29 Financing of 19 renewables and other 500 sustainable acitivite
Slide 24: ESG in the credit process
ESG in the credit process ▪ ESG is part of the risk assessment for all corporate loans: ▪ EAD>NOK 50 million: Sector-specific ESG risk assessment models for material sectors, including SMEs ▪ EAD between NOK 50 and 8 million: Comments on ESG risk factors must be included in all credit proposals ▪ EA
Slide 25: Diversity and inclusion
Diversity and inclusion ▪ Established internal goal in 2015 of 40% ▪ BCG Gender Equality Index 2023: DNB rated as female representation on management no. 2 among European banks levels 1-4 ▪ Q3 2025: 37.5% share of women at management levels 1-4 ▪ Q3 2025: 60% and 50% proportion of women on the Board
Slide 26: ESG ratings
ESG ratings • ‘DNB corporate governance practices lead most global peers’ • Corporate Governance: ‘DNB Bank ASA falls into the highest scoring range for all the companies we assess relative to global peers, indicating that the company’s corporate governance practices are generally well aligned with
Slide 27: DNB sustainability – Online resources
DNB sustainability – Online resources ▪ Sustainability at DNB ▪ DNB's Sustainability reports ▪ DNB Group - Key figures 2024 ▪ DNB’s Transition Plan ▪ DNB Green Finance Framework 27
Slide 28: Disclaimer (1/3)
Disclaimer (1/3) THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNIT
Slide 29: Disclaimer (2/3)
Disclaimer (2/3) This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Group and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not hist
Slide 30: Disclaimer (3/3)
Disclaimer (3/3) IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS STRICTLY CONFIDENTIAL AND IS BEING FURNISHED SOLELY IN RELIANCE ON APPLICABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THE BONDS HAVE NOT AND WILL NOT BE R