Sparebank 1 Smn · OSL:MING
Sparebank 1 Smn — Sparebank 1 Smn Prim Cap — Q2 2026 Earnings Presentation
33 slides from Sparebank 1 Smn's earnings presentation, Aug 13, 2026
Slide 1: Second quarter 2026
Second quarter 2026 August 13, 2026 MUST GET THE ORIGINAL PICTURE Trond Søraas CFO Photo: Innerdalstårnet
Slide 2: Q2 2026 Strong quarterly result
Q2 2026 Strong quarterly result • Return on equity of 16.2% in Q2 and 13.7% year to date Profit driven by solid revenues, reduced costs and low losses. The first half of the year shows robust earnings. • Strong contributions across the group Significant contributions from real estate and accounting,
Slide 3: High value creation over time
High value creation over time 3
Slide 4: A strong financial ecosystem
A strong financial ecosystem unified in one integrated financial services platform FACTORING INSURANCE 4
Slide 5: Growth from the group compensates for lower net interest income
Growth from the group compensates for lower net interest income Profit before tax for the quarter (NOK million) Bank Subsidiaries 5
Slide 6: The value of accounting extend far beyond own operations
The value of accounting extend far beyond own operations The overall value is created through profitable operations, the finance centre model and synergies in the Group Profitable business with high operating margins, strengthened by technology-driven efficiencies The finance centre model shares cos
Slide 7: Good development for jointly owned companies, with Fremtind at the forefront
Good development for jointly owned companies, with Fremtind at the forefront Profit contribution (NOK million) Norway's second-largest financial grouping Leading digital solutions Attractive product companies Strong and visible brand Innovation and economies of scale 7
Slide 8: Targeted Private Banking initiative yields results
Targeted Private Banking initiative yields results Net subscriptions (NOK bn) We are growing faster than the market on savings • Net subscription 1.6 billion, (196 %) (NOK bn) • AUM 31.1 billion, (20 %) • Fund customers 86,400, (13 %) • Year-on-year savings agreement volume 1.1 billion, (17 %) All g
Slide 9: The World Cup created a public celebration. We created the meeting places.
The World Cup created a public celebration. We created the meeting places. When the World Cup fever swept over the country, we invited people to a public festival throughout Central Norway. With a big screen at Torvet in Trondheim and events in several places in the region, we gathered young and old
Slide 10: Central Norway’s leading financial services group
Central Norway’s leading financial services group Highlights from the quarter SPG Corporate Finance becomes part of Norion Commercial Real Estate Brokerage NOK 100m of the community dividend for innovation from NTNU Strengthened customer relationships among retail customers and SMEs Won and extended
Slide 11: Second quarter 2026
Second quarter 2026 Trond Søraas CFO
Slide 12: Q2 2026 H1 2026 results
Q2 2026 H1 2026 results 16.2 % Lending growth Retail banking 1.4 % 1.8 % 13.7 % Return on equity Corporate banking 0.5 % Return on equity NOK 1,179m Deposit growth Retail banking 3.1 % 5.2 % NOK 2,028m Profit after tax Corporate banking 0.9 % Profit after tax Operating margin subsidiaries 17.0 % Reg
Slide 13: Financial targets
Financial targets Return on equity (per cent) Solidity (per cent) 15.9% Cost/income bank ex. finance (per cent) Cost/income subsidiaries (per cent) 13
Slide 14: Growth and margins in Retail Banking - quarterly
Growth and margins in Retail Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M f , ’ f d, as well as interest rate hedging instruments related to fixed-rate loans. 14
Slide 15: Growth and margins in Corporate Banking - quarterly
Growth and margins in Corporate Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M f , ’ f d, as well as interest rate hedging instruments related to fixed-rate loans. 15
Slide 16: Results
Results Change Change from NOK mill Q2 26 Q1 26 Q4 25 Q3 25 Q2 25 from Q1 26 Q2 25 Net interest income 1,229 1,220 1,349 1,337 1,335 9 -106 Commission income and other income 702 690 621 636 749 12 -48 Operating Income 1,931 1,910 1,970 1,973 2,085 21 -154 Total operating expenses 889 920 886 850 93
Slide 17: Income
Income Net interest income and other income (NOKm) Commission income , C ha nge C ha nge NOK mill Q2 26 Q1 26 Q4 25 Q3 25 Q2 25 , , , f ro m Q 1 2 6 f ro m Q 2 2 5 , Payment transmission income 66 86 89 65 67 -19 -1 Credit cards 15 13 11 33 22 2 -7 Commissions savings and asset mgmt 25 13 14 13 17 1
Slide 18: Costs
Costs Total operating expenses per quarter (NOKm) Costs per category • Cost reduction of NOK 31m from the first quarter, where NOK 20m is from . the bank • Compared with the second quarter of 2025, costs in the bank decreased by NOK 50m. ’ f -off costs of NOK 47m. n. • The target of replacing half o
Slide 19: Broad product range and a diversified income platform
Broad product range and a diversified income platform Ownership interests Profit after tax (NOKm) 19
Slide 20: Losses
Losses Loan losses (NOKm) Distribution of losses in the quarter (NOKm) f 20
Slide 21: Solidity
Solidity CET 1 Leverage ratio , , , , ff , ff , , 21
Slide 22: 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 23: Appendix
Appendix Regnskap
Slide 24: Profitable and solid
Profitable and solid Return on equity CET1 ratio Result per ECC Loan losses in per cent of total lending 24
Slide 25: Subsidiaries
Subsidiaries Change from Change from NOK mill, SMN's share in parentheses Q2 26 Q1 26 Q4 25 Q3 25 Q2 25 Q1 26 Q2 25 EiendomsMegler 1 Midt-Norge (92.4%) 48 9 6 21 42 39 6 SpareBank 1 Regnskapshuset SMN (93.3%) 59 46 4 -7 57 13 2 SpareBank 1 Finans Midt-Norge (64.8%) 79 52 85 66 68 27 12 SpareBank 1 S
Slide 26: Return on financial investments
Return on financial investments Change from Change from NOK mill Q2 26 Q1 26 Q4 25 Q3 25 Q2 25 Q1 26 Q2 25 Net gain/(loss) on stocks 49 -32 19 42 23 81 26 Net gain/(loss) on financial instruments 12 -6 -30 26 -3 18 16 Net gain/(loss) on forex 12 -10 22 6 -5 22 18 Net return on financial instruments
Slide 27: Balance sheet
Balance sheet NOKbn 30.6.26 31.12.25 31.12.24 Cash and receivables from central banks 3.0 0.1 0.7 Deposits with and loans to credit institutions 1.4 2.2 9.2 Net loans to and receivables from customers 185.6 183.5 179.3 Fixed-income CDs and bonds 45.5 35.2 36.7 Derivatives 5.9 5.6 7.2 Shares, units a
Slide 28: Equity certificate, key figures
Equity certificate, key figures Key figures Q2 26 2025 2024 2023 2022 ECC ratio 66.8 % 66.8 % 66.8 % 66.8 % 64.0 % Total issued ECCs (mill) 144.21 144.19 144.21 144.20 129.29 ECC price 188.00 206.05 171.32 141.80 127.40 Market value (NOKm) 27,112 29,711 24,706 20,448 16,471 Booked equity capital per
Slide 29: Problem loans
Problem loans f , , , , , , , , , , , , , , 29
Slide 30: Maturity structure
Maturity structure SP, SNP. Final maturity NOKbn 30
Slide 31: Diversified deposit portfolio
Diversified deposit portfolio Deposits by sector (NOKbn) Deposits covered by the deposit Liquidity Coverage Ratio guarantee scheme as at 30.6.26 (LCR) (NOKbn) Public sector deposits are not covered by the guarantee scheme, but are mostly bound by contractual obligations 31
Slide 32: Well diversified lending portfolio dominated by mortgages
Well diversified lending portfolio dominated by mortgages Loans per sector As at 30th of June 2026 and change last 12 months (NOKbn) f f f , , ff 32
Slide 33: Commercial property, construction, building
Commercial property, construction, building Share of commercial real estate exposure Rental properties make up 73 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 Q2 2026 per Q4 2
Sparebank 1 Smn Prim Cap — Q2 2026 Earnings Presentation on 6ix