DNB Bank (DNB) Investor presentation summary

Capital structure and requirements

• Maintains a strong CET1 ratio of 18.1% as of 31 March 2026, well above the regulatory expectation of 16.4%.

• SREP 2025 sets P2R at 1.7% and P2G at 1.0%, with capital requirements met through a mix of CET1, AT1, and Tier 2 capital.

• Initiated a share buy-back program in May 2026, reducing CET1 ratio by approximately 40bps.

• Effective countercyclical buffer is ~2.19% and systemic risk buffer is ~3.21% as of 31 March 2026.

• Capital position remains robust compared to Nordic peers, with higher risk-weighted density.

Capital instruments and funding

• Outstanding AT1 and Tier 2 instruments issued in multiple currencies, all with anytime call features before reset dates.

• Senior Non-Preferred and Senior Preferred benchmark bonds issued in USD, EUR, GBP, JPY, NOK, SEK, and CHF, including green bonds.

• All bonds coming up for call have been called, ensuring proactive capital management.

• Legacy perpetual bonds were redeemed in early 2024 following regulatory changes.

• Sbanken's capital instruments were assumed after the merger in May 2023.

Profitability and earnings

• Demonstrates resilient and solid earnings, with net interest income comprising 71% of total income in 2025.

• Pre-tax operating profit before impairment remains strong, with consistent dividend and share buy-back distributions.

• Solid profitability supports ongoing AT1 coupon payments and capital hierarchy preservation.