DNB Bank (DNB) Investor presentation summary

Financial performance and capital position

• Achieved resilient earnings in Q1 2026 with NOK 13,353 million pre-tax profit before impairment and a profit for the period of NOK 9,860 million.

• Return on equity at 14.0% and CET1 ratio at 18.1%, well above the regulatory expectation of 16.4%.

• Cost/income ratio maintained below 40%, with a dividend payout ratio above 50% and ambition to increase nominal dividend per share year over year.

• Initiated a share buy-back program up to 1% of shares, expected to reduce CET1 ratio by ~40bps.

• Strong capital generation, with CET1 capital built up by over 350bps annually on average over the last three years before shareholder distributions.

Loan book and asset quality

• Portfolio is robust and well-diversified, with 99.4% of loans in stage 1 and 2, and low impairment levels across segments.

• Exposure to cyclical industries has been reduced, and the residential loan portfolio is highly resilient with strict lending regulations and low LTV ratios.

• Commercial real estate loans represent 10% of total exposure, with 72% to low-risk customers and 94% in Norway.

• Oil-related and shipping portfolios are small, at 3.2% and 2.1% of total exposure, respectively, with most loans in low-risk categories.

• Non-performing loans and arrears remain at historically low levels.

Norwegian economic environment

• Mainland GDP growth expected at 1.5% in 2026, with low unemployment and positive wage growth supporting consumption.

• Inflation remains above target at ~3.3% YTD April 2026, with policy rate at 4.25% and potential for further hikes.

• Norway's net wealth exceeds 4x GDP, providing a strong buffer against economic downturns.