SPAREBANK 1 RINGERIKE HADELAND (RING) investor relations material

Executive summary

• Q3 net profit was NOK 142m, down from NOK 161m YoY; annualized ROE was 10.9%.

• 9M net profit was NOK 504m vs NOK 552m, with ROE of 12.7%.

• The underlying banking result was NOK 457m vs NOK 487m; lower net interest income and higher costs were partly offset by stronger payment and insurance income.

• Personal-market lending growth strengthened, credit quality remained sound and net interest income pressure eased QoQ.

• CET1 was 17.6%; the outlook balances growth, profitability, costs and capital amid subdued business activity and intense mortgage competition.

Financial highlights

• Q3 total income was NOK 330m vs NOK 336m YoY; operating expenses rose to NOK 140m from NOK 131m.

• 9M total income was NOK 1,046m vs NOK 1,093m; operating expenses were NOK 418m vs NOK 410m, and pre-tax profit was NOK 624m vs NOK 682m.

• Q3 net interest income was NOK 203m, flat YoY; including credit-company commissions it was NOK 211m, up 4.5% QoQ and down 5.0% YoY. 9M figures were NOK 592m and NOK 625m, respectively.

• 9M net commissions and other income were NOK 262m vs NOK 245m; payment services and insurance drove growth. Net financial income was NOK 157m vs NOK 183m, including prior-year gains from SamSpar asset sales.

• Credit-loss expense was NOK 8m in Q3 vs NOK 2m; 9M expense was NOK 3m vs NOK 1m. A NOK 12.5m discretionary provision was reversed in 2026.

Outlook and guidance

• High mortgage competition and expected moderation in loan demand, subdued business optimism and activity weigh on near-term growth expectations.

• Customer repricing is expected to offset higher funding costs, with full effect on net interest income from early December 2026; improved deposit margins and stronger loan growth also support income.

• Priorities include profitable growth, cost control, efficient capital and liquidity management, and better customer experience through digital services and personal advice.

• Long-term targets include ROE above 11% and distributing at least 60% of after-tax profit as gifts and dividends, subject to capital needs.