SPAREBANK 1 ØSTFOLD AKERSHUS (SOAG) investor relations material

Executive summary

• Result after tax for H1 2026 was NOK 309 million, down from NOK 357 million year-over-year. Result from ordinary operations was NOK 262 million (NOK 289 million).

• Return on equity for H1 was 12.3% (14.7%). Earnings per equity certificate: NOK 22.3 (NOK 25.9).

• Strong loan growth: 3.6% in retail and 8.5% in corporate for H1. Deposit growth was 6.2%.

• Cost program initiated, including a voluntary reduction of 20 FTEs, with one-off costs of NOK 16.4 million in Q2.

• Very strong result contribution from SpareBank 1 Gruppen, with high dividends received.

Financial highlights

• Net interest income and commissions from credit institutions: NOK 396 million (NOK 412 million), margin 1.65% (1.83%).

• Net commission and other income: NOK 217 million (NOK 208 million), up 4.5%.

• Net return on financial instruments: NOK 130 million (NOK 143 million), previous year included NOK 50 million gain from asset sales.

• Operating expenses: NOK 320 million (NOK 287 million), cost/income ratio 45.0% (40.0%).

• Loan losses: NOK 24 million (NOK 7 million), mainly due to macro model adjustments.

• Equity ratio (CET1, consolidated): 17.23% (19.61%).

Outlook and guidance

• Cost reduction program expected to yield annual savings of NOK 10 million.

• Positive effects from cost measures anticipated in 2027; minimum 11% ROE and 50% payout ratio remain targets.

• Continued focus on growth in both retail and corporate segments, with stable market outlook.