SpareBank 1 : Debt presentation

Debt presentation

First quarter 2024

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.

Content debt presentation

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About SpareBank 1 SMN

Norwegian Economic Overview

First quarter 2024

Capital and Funding

5 Appendix

About SpareBank 1 SMN

4

SpareBank 1 SMN

City of Trondheim

The Norw. Uni. of Science and Tech

Main industries

Region

• The region's consists of two counties in the middle of Norway: Trøndelag and Møre and Romsdal
• Population is approx. 750,000 people or 13.6% of the Norwegian total
• The main town of Trondheim is an historic town and was once the Norwegian capital
• The renowned Norwegian University of Science and Technology (NTNU) is located in Trondheim creating a vibrant tech community
• Main industries in the region are: salmon farming, technology, retail, logistics centre, fisheries, shipping and yards, business services
• Unemployment below the Norwegian average, population growth

SpareBank 1 SMN (or short SMN, established 1823)

• Market share leader in the region with app. 25 % market share
• Rating Aa3 (outlook stable)
• 238.3 bn NOK lending volume
• Offers customers a wide range of financial products in its region through the SpareBank 1 Alliance product companies
• Listed equity since 1994; equity and SMN bonds (senior and sub) trades on the Oslo exchange
• Covered bond funding through SpareBank 1 Boligkreditt
• 2nd largest Alliance membership bank by assets and equity cap

Our history through two centuries

Trondheim Sparebank	SpareBank 1 Midt-Norge	SpareBank 1 SMN	SpareBank 1 SMN
				merges with SpareBank
established	admitted to Oslo Stock	acquires Romsdals
1 Søre Sunnmøre
		Exchange	Fellesbank
1823	1994	2005	2023

1985

1996

2009

23 regional savings banks	A number of savings	SpareBank 1 SMN acquires
amalgamate to form	banks come together	BN Bank together with
SpareBank 1 Midt-Norge	to establish the	other SpareBank 1 banks
	SpareBank 1 Alliance

Group strategy 'One SMN' stands firm

Create One SMN	Increase digitalisation	Head up the development	Integrate sustainability	Exploit the power in our
	and use of insights	of Norway's savings banks	into the business	ownership model

7

Comprehensive finance

centres

With physical presence, digital solutions and knowledge of Mid Norway as its foundation

Foto: Finanshus i Molde

Part of the SpareBank 1 Alliance

SpareBank 1				SpareBank 1		SpareBank 1		SpareBank 1		Other
	SpareBank 1 SR					SpareBank 1
SMN			SNN		Østlandet		Sør-Øst
						Banks

Retail and corporate banking in Norway; approx. 1.1 mill retail and 100,000 corporate/SMEs exclusively in Norway

SpareBank 1 Group	SpareBank 1 Development	Direct operating subsidiaries
Holding Co.	Holding Co.	o	SpareBank 1 Boligkreditt
o Product companies	o Business operations and	(Covered Bonds - Residential
(Products are	improvements, drives		pool)*
marketed/distributed	"economies of scale" for the	o	SpareBank 1 Naeringskreditt
through the banks):	banks**		(Covered Bonds -
Insurance, Investments	o SpareBank 1 Real Estate		commercial pool)
funds, factoring, payments,	(Norway's largest real estate		o BN Bank, SpareBank 1
other	broker)		Markets, others

* SpareBank 1 SR-Bank is not an owner of SpaBol

** Marketing and distribution, Procurement, credit risk models, IT systems, business development

Financial targets

Profitable	Solid	Efficient	Responsible

	16.3%	< 40%	Net zero
13%	CET1 ratio	cost-income, bank
~ 50%	< 85%	carbon footprint by 2050
return on equity

dividend payout ratio	cost-income, subsidiaries