Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — SpareBank 1 Østlandet — Debt Investor Presentation (2026)
62 slides from Sparebank 1 Ostlandet's debt investor presentation, 2026
Slide 1: Company presentation Fourth quarter 2025
SPOL Company presentation Fourth quarter 2025
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: Agenda
1 Introduction 2 Macroeconomic backdrop and main financials 3 Asset quality and funding plans 4 Appendix 3
Slide 4: The bank in brief
The bank in brief • Norway’s fourth largest savings bank • Operations in Eastern Norway, focusing on the Inland and extended capital regions • Head office in Hamar (90 minutes drive north of Oslo) – more than 40 bank branches and appr. 1,350 FTEs. • Long history of being among the best capitalized s
Slide 5: Strategic vision
Strategic vision Together we develop Eastern Norway 5
Slide 6: Eastern Norway is our home market
Eastern Norway is our home market 6
Slide 7: We are the bank of and for LO
We are the bank of and for LO 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 3 Share new loans, 18-33 yrs Share new sal
Slide 8: Satisfied customer and strong customer relations
Satisfied customer and strong customer relations SpareBank 1 Østlandet is best of the large banks in this year’s EPSI customer satisfaction survey for the retail market. EPSI (SATISFACTION) – STRONG RESULTS IN 2025 BANK SURVEY STRONG CUSTOMER RELATIONS (KRI) IN 2025 ulder 1.2 0-35 76-100 36-49 50-64
Slide 9: Big picture: Norway's most attractive market area
Big picture: Norway’s most attractive market area Almost half of Norway’s population is in the market area. Population expected to grow more than the country average. Population in market area, 1000 Population, index = 100 in 2022 12 Akershus 7 11 slo 11 National Inland cities 1 313 1 3 1 227 1 17 1
Slide 10: Straightforward banking, diversified income stream
Straightforward banking, diversified income stream Core banking Subsidiaries Alliance and brands 10
Slide 11: Part of the SpareBank 1 Alliance
Part of the SpareBank 1 Alliance SpareBank 1 Sør- SpareBank 1 Other SpareBank 1 SpareBank 1 SMN SpareBank 1 SNN Norge Østlandet Banks Retail and corporate banking in Norway – second largest financial group in terms of total assets (~NOK 1,400 bn) SpareBank 1 Gruppen AS* (12.4 %) SpareBank 1 Utviklin
Slide 12: Part of the SpareBank 1 Alliance, cont'd
Part of the SpareBank 1 Alliance, cont’d SpareBank 1 Lom og Skjåk (1873) SpareBank 1 Helgeland (1860) SpareBank 1 Nord Norge (1836) Tromsø, Moodys: Aa3 SpareBank 1 Hallingdal (1860) SpareBank 1 Nordmøre (1834) SpareBank 1 Gudbrandsdal (1860) SpareBank 1 SMN (1823) Trondheim, Moodys: Aa3 SpareBank 1
Slide 13: 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 Receives 767 MNOK in dividends for 2025 Receives 149 MNOK in dividends for 2025 Figures
Slide 14: Profits to the community
Profits to the community Customer dividend since 2017 2.889 MNOK Board propses customer dividend in 2025 of 582 MNOK
Slide 15: Building communities
Building communities Secure finances / Strong communities / Robustness Foto: Alexander Lentille Solidarity Fund: Together with NIF and SpareBank 1 SMN to ensure more people can be part of community activities Speed Breeding: Together with the Norwegian Agricultural Secure Anti-Fraud Excellence Cente
Slide 16: 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 17: SPOL capital and distribution structure
SPOL capital and distribution structure ILLUSTRATION Profit after tax ECC Owners Primary capital 73 % 27 % Dividend Dividend equalisation fund (retained) Totens Sparebank- Primary capital Customer Other owners Sparebank- stiftelsen provision dividends/gifts 46.9 % stiftelse Hedmark (retained) 8.6 %
Slide 18: Agenda
1 Introduction 2 Macroeconomic backdrop and main financials 3 Asset quality and funding plans 4 Appendix Source: Ola Matsson: 18
Slide 19: 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 low levels of bankruptcies and unemployment. Norges ’ regional indicators Number of bankruptcies, year-to-date (per 4Q each year), market
Slide 20: Still high activity levels in the housing market
Still high activity levels in the housing market House price inflation, % Credit growth, 12-month in % Existing home sales (no. of homes), monthly, market area 20
Slide 21: Strong year, meeting financial targets
Strong year, meeting financial targets > 13 % > 50 % 15.9 %** Return on equity, % Cash dividend and dividend share, NOK and % CET-1 ratio, % 7 1 . 1 . 17. 17.7 17. 2 17.2 17. 12.7 1 . 1 . 1 . 13. 12. 1 11. 11.3 1 .3 1 .2 1 . 1 .1 1 . . 7. 4 . . .7 3. .12 2 17 2 1 2 1 2 2 2 21 2 22 2 23 2 2 2 2 2 17
Slide 22: Revised financial targets
Revised financial targets > 13 % < 40 % > 50 % 15.9 % Profitability Costs* Dividends Solvency * Excl. costs related to merger. 22
Slide 23: Long history of solid returns
Long history of solid returns Return on equity (%) and total assets (NOK bn) 2 2 1 13 1 2 2 2 2 2 2 2 1 2 12 2 1 2 1 2 1 2 2 2 22 2 2 2 2 R E Average R E otal Assets * Included loans transferred to covered bond companies 23
Slide 24: … high capital levels…
… high capital levels… Capital adequacy, % 17 1 17 7 17 1 17 2 1 17 2 17 1 1 1 1 2 1 1 1 1 1 1 3 1 1 2 1 1 1 1 1 1 13 1 13 2 Leverage Ratio 11 Management uffer uffer Re uirements 72 Pillar 2 Pillar 1 Actual CE 1 2 2 1 2 2 2 3 2 2 2 2 7 2 2 2 1 2 11 2 12 2 13 2 1 2 1 2 1 2 17 2 1 2 1 2 2 2 21 2 22 2
Slide 25: … and low loan losses
… and low loan losses Impairments on loans as a percentage of gross loans* 3 2 1 13 1 1 7 1 1 1 1 3 1 1 7 1 2 1 2 3 2 2 7 2 2 11 2 13 2 1 2 17 2 1 2 21 2 23 2 2 2 2 Spare ank 1 stlandet Peers Source: Bank reports and SpareBank 1 Markets. Peers: NONG, SB1NO, MING, MORG, SBNOR 25 (*) Included loans tr
Slide 26: Agenda
1 Introduction 2 Macroeconomic backdrop and main financials 3 Asset quality and funding plans 4 Appendix 26
Slide 27: Well diversified loan portfolio
Well diversified loan portfolio Lending to customers per sector (in %) .2 Corporate market otel and restaurants .2 27.7 % / 66,080 . ransport and communication .7 . Power and water supply ther 1. 1. holesale and retail trade 1.1 1. uilding and constructions 1.3 2. Commercial services Public sector 2
Slide 28: Retail: Mortgage collateral
Retail: Mortgage collateral Share of LTV by exposure – retail mortgages* Share of lending according to LTV - retail mortgages* 1.1 . 3 .1 . 3. . . 2 .3 nder 7 L 7 L 1 L ver 1 L * Including loans transferred to SpareBank 1 Boligkreditt. 28
Slide 29: Retail: Indicators of underlying credit quality
Retail: Indicators of underlying credit quality Retail customers with interest-only mortgage* Arrears retail market, NOK mill.** 12 . 13 .7 . 23 1 21 . 3 . 1 1 1 7 3 2 2 2 223 11 1 1 3 77 7 7 2 2 2 21 2 22 2 23 2 2 2 2 2 1 2 2 2 3 2 2 * Based on numbers for parent bank excl. Toten. ** Does not inclu
Slide 30: 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 1 1 2 1 2 1 1 7 3 1 1 Share of new mortgage approvals (volume) Average L at the time of app
Slide 31: 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 1 2 2 1 2 2 1 3 1 1 Share of new mortgage approvals (volume) Average L at the time of appro
Slide 32: 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.)* 2. 7 2. 3 7 1.7 2 1 37 13 1 1. 1. 1 17 3 7 3 1 1 32 73 7 2 332 7 7 72 3 3 2 1 2 2 2 21 2 22 2 23 2 2 2 2 2 1 2 2 2 3 2 2 se of operating credit facility Annua
Slide 33: 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 Acceptable slo 1 Normal Inland 1 2 Central 2 3 Akershus est ther 2 32 3 2 4 Share of rental space accordi
Slide 34: 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* 1. 3.7 21. 1 . . .1 . . . 7 7 3 3 7 7 * Based on numbers for parent bank excl. Toten portfolio, with exposures of a
Slide 35: Size concentration risk in the lending book is low
Size concentration risk in the lending book is low Retail and corporate loans by size (% share)* Retail market Corporate market 2 1 22 21 2 1 1 1 7 12 2 3 1 7 1 MN 1 2 MN 2 MN 1 MN 1 MN 1 MN 1 MN 1 MN 1 3 MN 3 MN MN * Including loans transferred to the covered bond companies. 35
Slide 36: Loan loss provisions
Loan loss provisions Proforma Impairment losses are mainly related to exposures in the construction sector. Quarterly loan loss provisions 33 3 31 32 13 11 12 13 Retail market 21. 13. 1 . Corporate market 121.2 .1 1 2.2 12 123 12 121 Spare ank 1 inans stlandet 2 . . . 1 7 2 Change in model based los
Slide 37: 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.) 2 . 2 .2 21. 21. 1. 2.2 2.1 2. 2. 1 .1 3 32 3 17 2 2 1 . .3 2 7 .1 .7 . 23 3 71 2. 2.1 7 1 1. 1. 1. 2 1 2 2 2 3 2 2 2 1 2 2 2 3 2 2 Stage 1 (L S) Stage 2 (R S) Stage 3 (
Slide 38: Aa3 Moody's Senior Unsecured rating with stable outlook
Aa3 Moody’s Senior Unsecured rating with stable outlook Rating Action – 5 March 2020: Main takeaways from the latest Credit Opinion: • Moody’s has upgraded the CAs and deposit debt • “Strong capital levels provide a good loss absorbing ratings with stable outlook for SpareBank 1 Østlandet buffer” an
Slide 39: Funding
Funding Funding mix Funding profile excl. covered bonds. NOK mill. A 1 2 Senior Non Preferred A 1 Senior Preferred E R 2 Senior Senior Preferred N Non Preferred N Loans from banks 11 7 7 Senior Non Preferred SE 77 Senior Preferred E R 2 eposits Senior Preferred N 3 1 Loans from banks 2 Covered bonds
Slide 40: MREL and subordination
MREL and subordination MREL and subordination requirement 3 7 1 3 7 32 3 1 2 7 1 1 1 Loss Absorbing Recapitalisation otal MREL Status MREL Pilar 1 2 Pilar 2 2 Combined buffer otal Subordination Status amount amount re uirement re uirement re uirement subordination 40
Slide 41: Good feedback on our work on CSR
Good feedback on our work on CSR 41
Slide 42: Allocation report 4Q 2025
Allocation report 4Q 2025 Portfolio date: 31 December 2025 42
Slide 43: Framework for transition finance
Framework for transition finance • Transition finance is essential for accelerating the green transition. It encompasses not only funding activities and objects that already meet the criteria for sustainability but also supporting initiatives that drive sustainable transformation • The bank finance
Slide 44: Agenda
1 Introduction 2 Macroeconomic backdrop and main financials 3 Asset quality and funding plans 4 Appendix 44
Slide 45: 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 (%) (3 ) Inland .2 7 (27 ) slo . 3 (2 ) Akershus 3.2 2 237 ( ) ther areas 1 . 21 2 45
Slide 46: Mortgage loans by geography
Mortgage loans by geography Retail lending by county (share in %/NOK million) Change last 12 months (%) (3 ) Inland 1. (2 ) slo 31 3 . 31 3 (31 ) Akershus 33 7 .7 33 7 estland r ndelag ther areas ( ) estfold 2 ther areas 1 3 1 .2 1 3 2 M re og Romsdal Rogaland 3 uskerud 23 stfold 46
Slide 47: Corporate market lending by geography
Corporate market lending by geography Corporate lending by county (share in %/NOK million) Change last 12 months (%) ( ) Inland .3 2 1 (33 ) slo 3.1 21 (13 ) Akershus . ( ) ther areas 1 . 47
Slide 48: 4Q: Solid profitability
4Q: Solid profitability Return on equity (%) • A solid quarter, return on equity of 13.3 %. 2 . 17. • A slight decline in net interest income, reflecting strong 1 . 1 .2 competition in the market for both residential and 1 .1 13. 13.3 11. corporate loans. Lending growth was also somewhat lower 11.3
Slide 49: Retail market: Intensifying competition
Retail market: Intensifying competition Proforma excl. margins The Bank defended its position in the quarter, in a market characterized by very strong competition and increasing margin pressure. Overall, 2025 was a very good year, with higher market shares, particularly in the capital region. Loan v
Slide 50: Corporate market: Moderate activity levels
Corporate market: Moderate activity levels Proforma excl. margins Growth remains moderate and the ank’s loan portfolio is stable. Customer satisfaction in the corporate market division is very high, positioning the Bank for when conditions improve. Work on other income streams is progressing well. L
Slide 51: Very strong development in commission income
Very strong development in commission income Rentebildet skjerper fokuset på breddesalg. Utviklingen i bankens provisjonsinntekter er sterk både på person og bedriftsmarkedet. I tillegg fortsetter den nyfusjonerte eiendomsmegleren å levere sterke tall. Selected commission income, 4 qrt. rolling sum,
Slide 52: 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 1 17 171 7 11 2 1 7 1 1 7 3 1 3 2 Net interest Net Net profit otal Impairment on ax expense 2 2 Net interest Net Net profit otal Impairment o
Slide 53: Net interest income
Net interest income Proforma he ank’s interest rate changes in September took full effect for existing residential mortgage customers from 2 November. Net interest income incl. commissions from covered bond companies (MNOK and %) 2.2 2.31 2.2 2.2 2.1 2.17 2.1 2.1 1.2 1 31 1 311 12 1 27 12 3 12 Net i
Slide 54: 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. Net commissions and other income (NOK million) 1 Commission income from credit cards 13. 1 .7 1 . Payment services 113.7 .2 1 .7 Commissions from insurance .7 77.7 Co
Slide 55: Profits in subsidiaries
Profits in subsidiaries Proforma A decline in the result in SB1 Finans Østlandet related to an impaired exposure. Merger costs of NOK 3.7 million were recognised in EM1 Profits after tax in subsidiaries (NOK million) Østlandet in 4Q-25. 7 7 71 Sparebank 1 inans stlandet AS . 2.1 . otens oligkreditt
Slide 56: Profits in joint ventures
Profits in joint ventures Profits after tax in joint ventures (NOK million) 11 Spare ank 1 Gruppen AS Group 12. 7. 7. 3.1 Spare ank 1 orvaltning AS .3 3. . . Spare ank 1 oligkreditt AS 2 .2 27. 1.3 23. Spare ank 1 N ringskreditt AS . 1.3 1. 3. redittbanken ASA 17.3 2. 3. . 1 Spare ank 1 etaling AS 1
Slide 57: Net income from financial assets and liabilities
Net income from financial assets and liabilities Proforma Net income from finance (NOK million) ividends from shares and other e uity instruments . .3 1 . Share of profit or loss of associates and oint ventures 1 .1 1 . 1 . 2 2 2 1 1 Net profit from other financial assets and liabilities 3 . 1. 31.
Slide 58: Operating expenses
Operating expenses Proforma A quarter characterised by merger costs and other one-off items, as well as an underlying increase in ICT expenses. Operating expenses (NOK million) 1 332 1 337 13 2 13 1 33 1 312 1 31 1 317 12 3 1 2 7 Personnel expenses 1 . . .2 727 epreciation amortisation .1 3 . . 72 I
Slide 59: Operating expenses
Operating expenses Proforma Changes in operating expenses (NOK million), from last year Quarterly cost income ratios 7 2 3 1 1.2 3 . 37.2 37. 3 3 . 1 2 32. 3 2 2 1 23 2 23 3 23 23 1 2 2 2 3 2 2 1 2 2 2 3 2 2 2 Parent bank inans EM1 orretnings ther 2 stlandet stlandet Partner changes Parent bank excl
Slide 60: Capital levels
Capital levels Common equity Tier 1 capital ratio 1 . 17. 17.7 17. 17. 1 . 1 . 1. CE 1 capital ratio 17. 17.3 1 . ier 1 capital ratio 1 . 1 .1 1 . 1 . Capital ade uacy ratio 21. 21. 2 .7 Leverage Ratio 7.2 7.1 7.3 2 2 2 21 2 22 2 23 2 2 2 2 Re uirement per 2 Common e uity ier 1 capital ratio Managem
Slide 61: Together we develop Eastern Norway
Together we develop Eastern Norway
Slide 62: Contact details
Contact details Cathrine Mordal Head of Treasury +47 480 02 537 [email protected] [email protected] Randi Nordstad Portfolio Manager Treasury +47 453 92 808 [email protected] Geir-Egil Bolstad CFO +47 918 82 071 [email protected] Bjørn-Erik R. Orskau
SpareBank 1 Østlandet — Debt Investor Presentation (2026) on 6ix