DNB Bank (DNB) Investor presentation summary

Capital structure and requirements

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

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

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

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

• Capital requirements can be met with ~1.8% AT1 and ~2.4% Tier 2 capital.

Funding instruments and bond issuance

• Outstanding AT1 and Tier 2 instruments issued in multiple currencies, with call features and varying 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, maintaining proactive liability management.

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

• Sbanken capital instruments assumed after merger, integrated into the capital structure.

Profitability and capital generation

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

• Pre-tax operating profit before impairment has shown consistent growth over the years.

• Strong profitability supports regular dividend payments and share buy-backs.

• On average, built over 350bps in CET1 capital annually over the last three years before shareholder distributions.

• Solid profitability ensures ability to meet AT1 coupon payments.