Presentation 1Q26

‌Results DNB Group First quarter 2026 Q1

Kjerstin R. Braathen (CEO) Rasmus T. Figenschou (CFO)

23 April 2026

Launched new equity trading platform in our savings app - already accounting for 1 out of 4 trades

‌Committed to delivering customer value: selected highlights

Improved process for onboarding customers under the age of 18 - full onboarding in less than 2 minutes

Ranked no. 1 in Prospera Domestic Equity 2025 Nordics - achieving top spot in all 9 categories - also no. 1 in Sweden, Norway and Finland

Launched Solve, 100% genAI chatbot for Sbanken, solves 76% of requests with positive customer feedback

Ranked no. 1 for customer satisfaction in the large corporates and international customers segment in Norway

Net flow of NOK 20.4 billion in asset management in the quarter - new record quarterly and LTM

LTM: Last twelve months.

‌Robust first quarter result

17.5 15.9 15.5

54.9 53.4 52.5

10.8

26.9

Return on equity of 14.0 per cent in the quarter

Strong performance across customer segments and product areas.

Net interest income down 5.4 per cent from 4Q25

Profitable growth in both loans and deposits offset by narrowed spreads and fewer interest days.

2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q26

R12

Net commissions and fees up 18.0 per cent from 1Q25

Strong results across product areas, particularly in asset management with all-time high net flow of NOK 20.4 billion in the quarter.

Profit for the period NOK billion

9.9

CET1

capital ratio

Per cent

18.1

Pre-tax operating profit ROE

Robust and well-diversified portfolio

99.4 per cent of portfolio in stages 1 and 2.

Impairment provisions of NOK 644 million in the quarter.

CET1 ratio 18.1 per cent - 170 bps headroom to FSA's expectation

Earnings per share of NOK 6.50 in 1Q26.

‌Resilient Norwegian economy

• Mainland GDP growth expected to be 1.4 per cent in 2026, with growth expectations revised slightly downwards for 2027

• Inflation expected to fall following short-term uptick - expected real wage growth likely to drive consumption and savings growth

• DNB Carnegie expects rate hikes in June and September 2026, bringing key policy rate to 4.50 per cent, followed by two cuts in 2027 (Sep. and Dec.)

  Mainland GDP growth and unemployment

  Actual and Norges Bank forecast, per cent

2.1

2.1

2.3 2.3 2.3

(2.7)

4.7 5.2 0.9 0.6 1.8 1.4 0.9 1.2 1.4

5.0

4.5

4.5

5.5

5.6

5.2

4.9

4.5

3.5

3.7

3.1

3.3

3.9 3.6 3.4

2.8

2.2 2.1

4.0

4.0

1.7

2020

2021

2022

2023

2024

2025

2026F

2027F

2028F

2029F

2020

2021

2022

2023

2024

2025

2026F

2027F

2028F

2029F

2020

2021

2022

2023

2024

2025

2026F

2027F

2028F

2029F

Mainland GDP Unemployment rate

Core inflation Wage growth

Policy rate DNB Carnegie forecast

‌Solid underlying performance across all customer segments in competitive markets

• PC: Profitable loan growth of 1.7 per cent and deposit growth of 6.1 per cent YoY - disciplined approach to growth in a highly competitive market

• CCN: Profitable loan growth of 5.8 per cent YoY - other income up 28.9 per cent from 1Q25, reflecting well-diversified income platform

• LCIC: Profitable loan growth of 9.1 per cent YoY - supported by a solid start to the year across industries and geographies

  Personal customers (PC)

  NOK million

3,827

4,330 4,396

3,773

3,452

4,123

3,987

3,706

4,036

1Q25 4Q25 1Q26

1Q25 4Q25 1Q26

1Q25 4Q25 1Q26

Pre-tax operating profit before impairment Pre-tax operating profit

‌Continued strong income from DNB Carnegie and Wealth Management

• Total income from DNB Carnegie up 9.8 per cent from 1Q25 - strong contribution across products, sectors and geographies

• Total income from Wealth Management up 37.5 per cent from 1Q25 - strong contribution from both asset management and life insurance

• All-time high net flow of NOK 20.4 billion in the quarter from both retail and institutional customers

• Solid and diversified platform - well-positioned for further growth

  Total income DNB Carnegie

  NOK million

11,959 12,221

11,485

8,104

7,184

5,985

6,195

12,303

1,667 1,597

10,105

9,055

7,827

6,896

2021 2022 2023 2024 20251

Total risk management revenues

Total customer revenues

1 Including 10 months of Carnegie income.

2026 R12

2021 2022 2023 2024 2025 1

2026 R12

2021 2022 2023 2024 2025 31 March

1,140

882

945

809

2026

‌Profitable growth in the quarter

• Currency-adjusted loan growth of 0.3 per cent in the quarter (unadjusted down 0.8 per cent)

  • up 0.2 per cent in PC, down 1.2 per cent in CCN and up 2.3 per cent in LCIC

• Currency-adjusted deposits up 2.6 per cent in the quarter (unadjusted up 1.5 per cent)

  • up 2.3 per cent in PC, 5.5 per cent in CCN and 0.6 per cent in LCIC

965 979 980

PC CCN LCIC

31 March 2025 31 Dec. 2025 31 March 2026

PC CCN LCIC

31 March 2025 31 Dec. 2025 31 March 2026

7

‌Margin development affected by repricing effects and strong competition

1.62 1.67 1.62 1.65 1.72 1.66 1.73 1.61

1.43 1.40 1.39 1.39 1.36 1.35 1.35

1.52

1.87 1.89 1.90 1.94 1.90 1.85 1.80 1.81

1.74

1.29 1.24

1.18

1.04 2

1.07

1.03

0.90

0.95

0.84

0.86

0.87

1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26

Lending spreads Deposit spreads

Combined spreads - weighted average

1 Total net interest income relative to average loans and deposits in the customer segments.

‌Net interest income driven by volume growth - offset by repricing, competition and seasonality

16,179

231

(449)

(86)

(248)

(176)

15,299

(152)

4Q25 Spreads Volume Currency Interest days Amortisation

effects and fees

Other 1Q26

‌Commissions and fees - up 18.0 per cent from corresponding quarter last year

4,612

Real estate broking

+3%

+38%

+34%

-12%

-17%

+19%

241

3,500

282

4,129

291

1,763

1,382

1,005

917

1,335

1,225

288

627

381

296

527

451

255

523

454

Strong result in a slower market.

Investment banking services

Strong income development and high activity, with execution impacted by heightened market uncertainty.

Asset management and custodial services

AUM down 1.2 per cent in 1Q26 due to negative market valuation effects. However, all-time high net flow of NOK 20.4 billion in the quarter, from both retail and institutional customers.

Guarantee commissions

Stable demand for trade finance products, offset by margin effect.

1Q25 4Q25 1Q26

Money transfer and banking services

Mainly driven by reduced contribution from banking services.

Sale of insurance products

Increased income from non-life insurance and continued positive development in defined-contribution pensions.

‌Operating expenses reflecting seasonal activity

9,361

(408)

(147)

(133)

8,441

(232)

4Q25 Variable

salaries

IT Closed defined-benefit pension scheme 1

Other expenses

1Q26

‌Robust and well-diversified portfolio - 99.4 per cent in stages 1 and 2

• Well-diversified portfolio across industries and geographies

• Personal customer portfolio - continued strong credit quality

• Corporate customer portfolio - increase in stage 3 impairment provisions relating to customer-specific events

  Impairment of financial instruments by customer segment

  NOK million

Stage 1 Stage 2 Stage 3

Corporate customers Norway

NOK 3,088 billion

(+2)

NOK 129 billion

4.0%

(-21)

NOK 21 billion

(+2)

0.6%

‌Continued strong capital position

• CET1 capital ratio of 18.1 per cent - 170 basis-point headroom to the FSA's current expectation

• Strong profit generation and NOK 1.9 billion dividend from DNB Livsforsikring

• Board of Directors given authorisation by Annual General Meeting to repurchase up to 3.5 per cent of the company's share capital

17.9

0.3

0.2

18.1

(0.3)

1

2

.0

6.9 6.8 6.6 6.9 6.5

1 FSA's current expectation: 16.4 per cent. REA: Risk exposure amount.

‌Robust first quarter results

14.0

15.9

16.6

39.7 38.7

7.65

7.04

6.50

36.1

1Q25 4Q25 1Q26

1Q25 4Q25 1Q26

1Q25 4Q25 1Q26

‌Appendix

‌Income statement

‌Other operating income

‌DISCLAIMER

The statements contained in this presentation may include forward-looking statements, such as statements of future expectations. These statements are based on the management's current views and assumptions and involve both known and unknown risks and uncertainties.

Although DNB believes that the expectations implied in any such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct.

Actual results, performance or events may differ materially from those set out or implied in the forward-looking statements. Important factors that may cause such a difference include, but are not limited to: (i) general economic conditions,

(ii) performance of financial markets, including market volatility and liquidity, (iii) the extent of credit defaults, (iv) interest rate levels, (v) currency exchange rates, (vi) changes in the competitive climate, (vii) changes in laws and regulations,

(viii) changes in the policies of central banks and/or foreign governments, or supranational entities.

DNB assumes no obligation to update any forward-looking statement.

This presentation contains alternative performance measures, or non-IFRS financial measures. Definitions and calculations are presented on ir.dnb.no.

‌Q&A

2