DNB Bank (DNB) Investor presentation summary

Capital structure and requirements

• Maintains a strong capital position with a CET1 ratio of 17.4% as of 30 June 2026, well above the regulatory requirement of 16.4%.

• Capital requirements are met with a mix of CET1, AT1 (~2.5%), and Tier 2 (~2.4%) capital.

• MREL requirement is ~37% of adjusted REA, needing at least EUR ~15.1bn in eligible debt by Q2 2026.

• Own funds and eligible liabilities represent ~41.8% of REA, exceeding the MREL requirement.

• Effective countercyclical buffer is ~2.18% and systemic risk buffer is ~3.22% as of 30 June 2026.

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 are issued in multiple currencies, 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.

Profitability and capital generation

• Demonstrates resilient earnings, with pre-tax operating profit before impairment reaching NOK 56.2bn in H1 2026.

• Net interest income constitutes 69% of total income, with strong profitability supporting capital generation.

• Average annual CET1 capital build exceeds 350 bps pre-shareholder distributions over the last three years.

• Dividend and share buy-back programs have reduced CET1 ratio by ~270 bps in 2025 and ~80 bps in 2026.