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Fourth quarter 2025 Preliminary annual accounts February 12th 2026 Trond Søraas CFO Photo: Røros MÅ FÅ ORGINALBILDE
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Q4 2025 Profitable and solid • Return on equity of 13.7% in Q4 and 14.8% in 2025 A strong quarter conludes a solid year in which SMN delivers on its financial targets and strengthens its position for continued growth • Balanced profit development Net interest income remains at a high level, with solid contributions from all business areas, low cost growth, and moderate loan losses • Record-high dividend The Board of Directors proposes a dividend of NOK 13.50 per equity certificate and an allocation of NOK 968 million to community dividend • The leading financial institution in Mid-Norway A comprehensive service offering, market-leading digital solutions, and strong customer proximity constitute the strategic foundation. 2
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High value creation over time 3
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Solid profitability growth across all business segments Pre-tax profit year-to-date (mill NOK) 4
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Valuable ownership in SpareBank 1-alliansen Results from ownership (NOKm) Attractive product companies Leading digital solutions Innovation and economies of scale Strong and recognizable brand w ’ second-largest financial group 5 w
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Global uncertainty – Threats and opportunities World uncertainty index 2016-2025 «We should chill, but not freeze» In SMN we call it «keeping a cool head» SpareBank 1 SMN has navigated uncertainty for more than 200 years Ngozi Okonjo-Iweala, director general WTO NHOs annual conference, January 7th 2026
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Customers Mid-Norway’s leading finance centre Owners Among the top performers in the Nordics Community Creating long-term value Our mission
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Over NOK 3.7 billion for public benefit purposes the last five years Community dividend (NOKm)
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Group strategy 2026-2028 One SMN Create the best finance centres Simplify and improve with technology and AI Develop skills for the future Lead the development of the Norwegian savings- bank sector Build sustainable communities and businesses
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Private Banking team from Danske Bank We are building themarket’s most comprehensive finance centre Growth journey 2023-26: Targeted investments in markets, customer offerings, and distribution capacity SB1 Søre Sunnmøre Merger with SpareBank 1 SMN 2023 SB1 Finans MN distribution for Sparebanken Møre Accountancy four acquisitions in 2023 Eika Forsikring merger with Fremtind forsikring Eika Kredittbank merger with SB1 Kreditt Regnskapshuset four acquisitions in 2024 Kredittbanken Sparebanken Møre joined as a shareholder Berg Økonomi a part of Regnskapshuset SB1 Markets increased ownership from SB1 NN and SB1 SR-bank LO-avtale renewed agreement on member benefits SB1 Markets and Swedbank nordic investment bank Norion CRE brokerage A part of EM1 MN 2024 2026 2025
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Profitable, solid and with a shareholder-friendly dividend policy Strong position in Central Norway 11 Market leader in Central Norway Visible and engaged community builder with a strong brand Significant value from ownership within and outside the SpareBank 1 Alliance Well-positioned for structural changes High share of commission income from subsidiaries and product companies
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Financial information Trond Søraas Finansdirektør
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Q4 2025 13.7 % Return on equity NOK 1,061 mill Profit after tax 16.8% CET1-ratio Lending growth 3.8% Retail banking 4.7% Corporate banking 2.3% Deposit growth 3.7% Retail banking 8.4% Corporate banking 1.8% Operating margin subsidiaries Regnskapshuset SMN 12.5% EiendomsMegler 1 Midt-Norge 13.4% SB1 Finans Midt-Norge 13.9% (ROE) 13 2025 14.8 % Return on equity 4,367 mill Profit after tax 140 mill Loan losses
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14 Increased pay-out ratio. Dividend of NOK 13.5 per EC Dividend basis 3,609 NOKm ECC capital 2,411 NOKm 19.08 per ECC Dividend 1,947 NOKm 13.50 per ECC Retained ECC capital 464 NOKm Community owned capital 1,198 NOKm Community dividend 968 NOKm Retained community owned capital 230 NOKm Payout 350 NOKm Sparebankstiftelsen SMN (Foundation) 618 NOKm 67 % 33 % 13.50 NOK dividend per ECC 69% Payout ratio 1,210 NOKm to community purposes* * 968 NOKm community dividend, 141 NOKm dividend to Sparebankstiftinga Søre Sunnmøre and 100 NOKm dividend to Sparebankstiftelsen SMN (foundations)
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Achieving financial targets Return on equity (per cent) Solidity (per cent) Cost/income bank ex. finance (per cent) Cost/income subsidiaries (per cent) 15 > 15.9%
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Growth and margins in Retail Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) 16 Margins vs NIBOR3M w w
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Growth and margins in Corporate Banking - quarterly 17 Margins vs NIBOR3MLending volume (NOKbn) Deposit volume (NOKbn) w w
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Results 18 NOK mill 2025 2024 Change Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Change from Q3 25 Change from Q4 24 Net interest income 5,343 5,373 -31 1,349 1,337 1,335 1,321 1,372 12 -23 Commission income and other income 2,602 2,392 210 605 619 730 648 580 -15 25 Operating Income 7,945 7,766 179 1,954 1,956 2,065 1,969 1,953 -2 1 Total operating expenses 3,479 3,300 179 870 833 917 859 901 36 -31 Pre-loss result of core business 4,466 4,466 0 1,084 1,123 1,148 1,111 1,052 -39 32 Losses on loans and guarantees 140 176 -36 61 27 32 21 30 33 31 Post-loss result of core business 4,326 4,290 35 1,024 1,096 1,116 1,090 1,022 -72 2 Related companies 1,017 1,254 -236 278 278 271 191 227 0 51 Securities, foreign currency and derivates 106 103 2 25 75 19 -12 56 -50 -31 Result before tax 5,449 5,647 -198 1,326 1,448 1,405 1,269 1,305 -122 21 Tax 1,072 1,054 18 265 275 270 262 253 -10 12 Result investment held for sale -11 -2 -9 0 -2 -5 -3 -1 2 0 Net profit 4,367 4,591 -225 1,061 1,171 1,131 1,004 1,052 -110 9 Return on equity 14.8 % 16.6 % -1.8 % 13.7 % 15.9 % 16.2 % 14.0 % 14.4 % -2.2 % -0.7 %
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NOK mill 2025 2024 Change Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 C hange fro m Q3 25 C hange fro m Q4 24 Payment transmission income 336 354 -18 89 87 80 80 107 2 -18 Credit cards 44 71 -27 11 11 9 13 18 0 -7 Commissions savings and asset mgmt 55 49 6 14 13 17 12 13 1 1 Commissions insurance 310 263 47 83 80 76 71 69 3 14 Guarantee commissions 71 65 6 17 16 21 17 17 1 0 Estate agency 566 505 61 120 148 173 125 112 -28 8 Accountancy services 773 733 40 164 152 232 225 160 12 4 Other commissions 74 66 8 21 18 18 18 16 3 4 Commissions ex. Bolig/Næringskreditt 2,228 2,106 122 518 525 625 560 512 -7 6 Commissions Boligkreditt (cov. bonds) 359 272 87 83 91 101 84 65 -8 18 Commissions Næringskred. (cov. bonds) 14 14 0 3 3 4 4 3 0 1 Total commission income 2,602 2,392 209 605 619 730 648 580 -14 25 Income Commission incomeNet interest income and other income (NOKm) 19
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Costs Total operating expenses per quarter (NOKm) Costs per category • The cost increase from the third quarter was mainly driven by wealth tax • Compared with the fourth quarter of 2024, costs have been reduced by 3.4 per cent • Excluding the provision for accrued costs to Tietoevry, cost growth in the Group was 4.0 per cent in 2025. The corresponding figure for the bank was 3.3 per cent • In 2026, the bank will replace only half of the employees who leave. Cost growth is therefore expected to remain low in 2026 20 Mill kr 2025 2024 Change Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Staff costs 2,089 1,981 108 510 521 526 532 516 IT costs 479 410 69 104 104 161 109 83 Marketing 90 104 -14 17 23 24 25 30 Ordinary depreciation 187 176 11 47 47 47 46 48 Op.ex., real estate properties 52 49 3 10 15 11 16 10 Purchased services 293 298 -6 88 67 74 64 98 Other operating expense 37 38 -1 37 0 0 0 38 Total operating expenses 3,479 3,300 179 870 833 917 859 901
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Ownership interests Profit after tax (NOKm) Broad product range and a diversified income platform 21
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Losses Loan losses (NOKm) Distribution of losses in the quarter (NOKm) 22
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Solidity Leverage ratioCET 1 23
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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 historical facts, sometimes identified by the words “believes”, "expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and similar expressions. The forward-looking statements contained in this presentation, including assumptions, opinions and views of SpareBank 1 SMN, or cited from third party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Important factors that may cause such a difference for SpareBank 1 SMN are but not limited to: (i) the macroeconomic development, (ii) change in the competitive climate, (iii) change in the regulatory environment and other government actions and (iv) change in interest rate and foreign exchange rate levels. SpareBank 1 SMN do not provide any assurance that the assumptions underlying such forward-looking statements are free from errors and do not accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. SpareBank 1 SMN assumes no obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results. 24
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Appendix
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Macro in Central Norway Trøndelag Møre og Romsdal Q4 25 Norge 26 2015 100 Wholly unemployed as a percentage of the labor force Housing market dynamics Central Norway Development in housing prices Seasonally adjusted prices Unemployment Number of bankruptcies in Trøndelag, Møre & Romsdal Sources: NAV, SSB housing prices, Brønnøysundregisteret and Eiendomsverdi
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Profitable and solid CET1 ratio Loan losses in per cent of total lendingResult per ECC Return on equity 27
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Diversified deposit portfolio Liquidity Coverage Ratio (LCR) Deposits by sector (NOKbn) 28 Deposits covered by the deposit guarantee scheme as at 31.12.25 (NOKbn) Public sector deposits are not covered by the guarantee scheme, but are mostly bound by contractual obligations
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Well diversified lending portfolio dominated by mortgages Loans per sector As at 31. desember 2025 and change last 12 months (NOKbn) 29
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Commercial property, construction, building Share of commercial real estate exposure in the corporate lending book* Rental properties make up 77 per cent of the banks CRE exposure, mainly to retail trade, industry/storage and offices Distribution of property per Distribution of area Q4 2025 per Q4 2025 w 30 *Gross lending to commercial real estate as a share of corporate lending.. National data from SSB. Data for individual banks are based on reported numbers as at Q3 2025
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31 w w * The distribution is based on the category in which each loan falls. If a loan has a LTV of 75%, the entire loan will be placed in the 70-85% bucket. Robust mortgage portfolio Loan-to-value ratio in the mortgage portfolio* Share of mortgages by LTV, consolidated numbers Risk weight mortgages
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Problem loans 32
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Subsidiaries 33 NOK mill, SMN's share in parentheses Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Change from Q3 25 Change from Q4 24 EiendomsMegler 1 Midt-Norge (92.4%) 6 21 42 8 -1 -15 6 SpareBank 1 Regnskapshuset SMN (93.3%) 4 -7 57 52 -3 11 7 SpareBank 1 Finans Midt-Norge (64.8%) 85 66 68 69 87 19 -2 SpareBank 1 SMN Invest (100%) 19 - 26 4 27 19 -8 Other companies 4 3 5 5 6 1 -2 Sum subsidiaries 118 83 197 138 117 34 1
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Product companies 34 NOK mill, SMN's share in parentheses Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Change from Q3 25 Change from Q4 24 SpareBank 1 Gruppen (19.5%) 137 136 114 59 99 1 38 SpareBank 1 Boligkreditt (22,8%) 24 41 16 24 23 -17 0 SpareBank 1 Næringskreditt (14.8%) 1 2 3 3 4 -1 -3 BN Bank (35.0%) 62 70 85 74 68 -8 -6 SB1 Markets (31,9%) 25 12 18 19 19 13 6 Kredittbanken (15.1%) 2 3 3 -1 -5 -1 7 SpareBank 1 Betaling (20.5%) 3 2 -7 -4 -4 1 7 SpareBank 1 Forvaltning (21.7%) 17 14 13 14 17 3 -1 Other companies 8 -2 25 4 4 10 4 Sum associated companies 278 278 270 191 226 -0 51
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Return on financial investments 35 NOK mill Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Change from Q3 25 Change from Q4 24 Net gain/(loss) on stocks 18 42 23 25 44 -24 -26 Net gain/(loss) on financial instruments -30 26 -3 -39 -47 -56 17 Net gain/(loss) on forex 22 6 -5 -2 42 16 -20 Net return on financial instruments 10 74 14 -17 40 -64 -30
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Equity certificate, key figures 36 Key figures 2025 2024 2023 2022 ECC ratio 66.8 % 66.8 % 66.8 % 64.0 % Total issued ECCs (mill) 144.19 144.20 129.29 129.39 ECC price 206.05 141.80 127.40 149.00 Market value (NOKm) 29,711 20,448 16,471 19,279 Booked equity capital per ECC 138.30 120.48 109.86 103.48 Post-tax earnings per ECC, in NOK 19.08 16.88 12.82 13.31 Dividend per ECC 13.50 12.00 6.50 7.50 P/E 10.80 8.40 9.94 11.19 Price / Booked equity capital 1.49 1.18 1.16 1.44
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Balance sheet 37 NOKbn 31.12.25 31.12.24 Cash and receivables from central banks 0.1 0.7 Deposits with and loans to credit institutions 2.2 9.2 Net loans to and receivables from customers 183.5 179.3 Fixed-income CDs and bonds 35.2 36.7 Derivatives 5.6 7.2 Shares, units and other equity interests 1.3 1.2 Investment in related companies 11.2 10.1 Investment held for sale 0.2 0.2 Intangible assets 1.3 1.2 Other assets 2.3 2.1 Total assets 242.9 247.7 Deposits from credit institutions 9.6 13.9 Deposits from and debt to customers 146.2 140.9 Debt created by issue of securities 29.1 36.6 Subordinated debt (SNP) 15.4 13.4 Derivatives 4.5 6.2 Other debt 3.5 3.5 Investment held for sale 0.0 0.0 Subordinated loan capital 2.8 2.7 Total equity ex Tier 1 Capital 29.9 28.5 Additional Tier 1 Capital 2.0 2.0 Total liabilities and equity 242.9 247.7
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Maturity structure SP, SNP. Final maturity NOKbn 38
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Development in CET1 capital and capital adequacy 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CET1 ratio in per cent 39 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 CET1 8,254 9,374 10,679 12,192 13,223 13,820 14,727 15,830 17,041 17,790 19,776 21,589 22,409 23,328 ROE 11.7% 13.3% 15.1% 10.7% 11.3% 11.5% 12.2% 13.7% 10.0% 13,5 % 12,3 % 14,4 % 16,6 % 14,8 % RWA 82,450 84,591 95,322 89,465 88,786 94,807 101,168 91,956 93,096 98,664 104,716 114,633 122,622 139,273