DNB Bank (DNB) Investor presentation summary

Capital structure and requirements

• Maintains a CET1 ratio of 17.9% as of 31 December 2025, well above the regulatory expectation of 16.3%.

• SREP 2025 reduced Pillar 2 Guidance from 1.25% to 1.0%, with Pillar 2 Requirement unchanged at 1.7%.

• Capital reductions in 2025 include the Carnegie acquisition (~120bps), three share buy-back programmes (~86bps), and increased risk weight floors on residential real estate (~60bps).

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

• CET1 ratio remains well above the MDA trigger level, ensuring flexibility for dividends and AT1 coupon payments.

Capital instruments and funding

• Outstanding AT1 and Tier 2 instruments are diversified across USD, NOK, SEK, EUR, and JPY, with various call and reset features.

• Senior Non-Preferred and Senior Preferred benchmark bonds issued in multiple currencies, including green bonds.

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

• Sbanken's capital instruments have been assumed following the merger.

Profitability and earnings

• Delivers resilient and solid earnings, with pre-tax operating profit before impairment consistently growing.

• Net interest income constitutes 71% of total income, with net commissions and fees at 18%, and other income at 11%.

• Strong profitability supports continued AT1 coupon payments and shareholder distributions.