SpareBank 1 SMN: Robust operations and strong results in all business areas

SpareBank 1 SMN achieved a profit of NOK 1,179 million after tax in the second quarter of 2026, equating to a return on equity of 16.2 per cent. Operational performance remained strong in all business areas, with profitable growth, effective cost controls and strong profitability.

The group’s total costs were reduced by NOK 31 million during the quarter, and losses on loans remain low, at NOK 35 million in Q2.

“We have been investing in business areas beyond traditional banking for several decades. Our clients value our 26 finance centres across the region, which offer a full range of services under one roof, from estate agency and insurance to accountancy, finance and banking. The breadth of our service offering also reduces our vulnerability to short-term fluctuations and interest rate margins. Combined with effective cost discipline, we see this as an effective formula for profitable long-term operation,” says Group CEO Jan-Frode Janson.

Growth in Central Norway Total lending has increased by NOK 11.9 billion (4.7 per cent) over the past 12 months, bringing the group’s total lending volume to NOK 264.8 billion. Lending to retail customers is up 5.5 per cent, while lending to corporate clients has grown by 3.5 per cent over the same period. Deposit growth amounted to 4.2 per cent over the same period, and total deposits now stand at NOK 155.8 billion. Deposits from retail customers increased by NOK 3.8 billion (6.3 per cent) in the second quarter, while deposit growth in the corporate segment totalled NOK 0.7 billion (0.9 per cent) over the same period.

Regnskapshuset continues to grow and is now the market leader in Central Norway, as well as one of Norway’s largest accountancy firms. It achieved a profit of NOK 59 million for the quarter. EiendomsMegler 1 Midt-Norge holds an undisputed position as market leader in the region and generated a profit of NOK 48 million in Q2 2026. SpareBank 1 Finans Midt-Norge delivered a profit of NOK 79 million for the quarter, up NOK 11 million on the same quarter last year.

“We have prioritised consolidating our position in the domestic market in Central Norway through profitable growth. In addition, we have made a targeted effort to establish a national presence in niches such as the commercial real estate brokerage and transactions markets. It is clear in all our operational business areas that both corporate and retail customers value local decision-making and a bank that stays calm and remains supportive even in uncertain times,” says Group CEO Jan-Frode Janson.

Increased dividend capacity The Common Equity Tier 1 ratio currently stands at 17 per cent, well above regulatory requirements and SpareBank 1 SMN’s own target. Combined with the group’s strong, above-target profit performance, this gives the Group good capacity to pay dividends.

“We have had excellent dividend capacity for a long time, which has enabled us to make distributions to shareholders and through community dividends in support of public celebrations during the World Cup and several thousand other worthy causes in partnership with voluntary organisations in Central Norway. Our combination of strong profits and robust solvency constitutes a strong foundation for both profitable growth and increased dividend capacity,” says Group CEO Jan-Frode Janson.

Generational change at EiendomsMegler 1 Midt-Norge The board of EiendomsMegler 1 Midt-Norge has started the process of recruiting a new managing director. This follows the departure of Kjetil Reinsberg (65) part of a planned generational handover.

“Starting the process early puts us in the best possible position to find the right leader to take EiendomsMegler 1 Midt-Norge forward. We will cast a wide net and are looking for a leader who can build on our strong culture, market position and excellent collaboration with SpareBank 1 SMN,” says Board Chair Jan-Frode Janson.

EiendomsMegler 1 Midt-Norge is currently in a very strong position. Since 1999, the company has grown from market share of approximately 7 per cent and annual revenue of around NOK 20 million to a group with 32 branches, about 250 employees and annual revenue of close to NOK 600 million. EiendomsMegler 1 Midt-Norge is currently the market leader in Trøndelag and Møre og Romsdal counties with a market share of between 35 and 40 per cent, and has been one of Norway’s most profitable real estate brokerage firms for many years.

“EiendomsMegler 1 Midt-Norge has developed into a market leader and an important part of SpareBank 1 SMN. Kjetil Reinsberg has been a key leader for many years, both as managing director and as a member of the group management team. He will continue to play an important role until a new leader is in place, and he will remain a strategic adviser to the company until he turns 67 in 2028,” says Janson.

Key figures, Q2 2026 (Consolidated figures. Figures in brackets refer to the corresponding period last year, unless otherwise specified.) Profit after tax: NOK 1,179 million (1,131 million) Return on equity: 16.2 per cent (16.2 per cent) Common Equity Tier 1 ratio: 17.0 per cent (18.8 per cent) Lending growth: 1.4 per cent (1.2 per cent) Deposit growth: 3.1 per cent (0.9 per cent) Losses on loans and guarantees: NOK 35 million (NOK 32 million) Profit per equity certificate: NOK 5.19 (NOK 4.99)

Contacts:

CFO Trond Søraas, tel. +47 922 36 803 EVP Rolf Jarle Brøske, tel. +47 911 12 475

This information is disclosable pursuant to section 5-12 of the Norwegian Securities Trading Act.