SPAREBANK 1 ØSTFOLD AKERSHUS (SOAG) investor relations material

Executive summary

• Market share gains and strong growth in lending and deposits across all business areas, with solid increases in both retail and corporate segments.

• Other income and net commission rose, mainly from insurance, real estate, and accounting services.

• Net interest income faced margin pressure due to increased competition and higher Nibor rates.

• Cost increases driven by more staff and higher IT/alliance costs, with cost/income ratio rising.

• Return on equity reached 10.0% in Q1 2026, up from 9.4%.

Financial highlights

• Pre-tax profit for Q1 2026 was 152 MNOK, up from 145 MNOK in Q1 2025.

• Result after tax for Q1 2026 was NOK 126 million, up from NOK 114 million year-over-year.

• Net interest margin declined to 2.35% in Q1 2026 from 2.43% in Q4 2025.

• Cost/income ratio increased to 48.8% in Q1 2026 from 47.7% in Q1 2025.

• Loan losses remained low, with a loss ratio of 0.02% annualized in Q1 2026.

Outlook and guidance

• Growth ambitions remain strong, but margin pressure is expected to persist due to competition and higher funding costs.

• Deposit rate reduction effective May 5, 2026, to support net interest income.

• Dividend policy updated from 2025, with approximately 50% of group profit to be distributed.

• Economic uncertainty remains high; focus on local presence and community engagement.