SpareBank 1 Østlandet (SPOL): Strong commission income and good cost control

SpareBank 1 Østlandet reported a consolidated profit after tax of NOK 756
million for the third quarter of 2026. Return on equity was 11.2 per cent. 

Net interest income, including commissions from covered bond companies, totalled
NOK 1,211 million, an increase of 4.5 per cent from the previous quarter. 

"Competition is fierce in both the residential mortgage and corporate lending
markets, but our growth shows that we are attractive to customers and competing
effectively. We will continue working hard both to attract new customers and to
retain our existing ones," says Klara-Lise Aasen, Group CEO of SpareBank 1
Østlandet. 

It is encouraging to see lending growth in the corporate market portfolio
picking up after an extended period of stable development, even as many
businesses continue to face uncertainty and challenging operating conditions.
Growth in the retail market was also good, particularly in the Greater Oslo
region. The region is an important part of the bank's home market and a key
strategic priority.

"As part of our investment in the region, we will open new offices in both Vika
and Majorstuen in the run-up to Christmas. We will also upgrade our presence in
Grorud. These will be important steps towards achieving our ambitions for the
Oslo area," says Aasen.

The financial services group maintains a strong focus on introducing customers
to its full range of products. The strong performance in commission income
continued in the third quarter, with growth of 9.4 per cent compared with the
same period last year (excluding commissions from covered bond companies).

"In insurance, we are seeing the results of a long-term commitment, close
collaboration and targeted efforts to improve portfolio quality. We are also
seeing high activity in savings and good growth in the number of mutual fund
customers, both through our advisers and through self-service channels," says
Aasen.

The bank has set clear cost targets. The ambition is to become more
cost-efficient while creating room for investments that strengthen customer
experiences and competitiveness. Underlying cost growth is low, and the bank is
working towards keeping the Group's costs in 2027 at or below the 2025 level,
adjusted for merger-related costs. This requires tight cost control and clear
priorities. As part of these efforts, we are making organisational adjustments,
limiting the use of external services and implementing various operational
adjustments. The voluntary severance programme initiated this spring is expected
to have a visible impact on personnel expenses during 2027.

At the same time, the bank is implementing several changes that together will
lay the foundations for the SpareBank 1 Østlandet of the future. The process of
adapting and modernising the organisation began this autumn. The aim is an
efficient organisation with greater execution capacity, simpler processes,
clearer responsibilities and the right expertise. A new technology operating
model has been introduced to improve prioritisation, strengthen delivery
capacity and enhance cost control. Together with SpareBank 1 Utvikling and Tieto
Banktech, the bank is also developing a new mortgage solution to deliver more
efficient and simpler customer processes and more personalised advice throughout
the home-buying journey. 

"As a local savings bank, we are committed to supporting development throughout
our market area. This is underpinned by the bank's financial strength. Strong
capitalisation enables the bank to continue financing sound projects in our
local communities," says Aasen. 

"We also share our profits with those who make the bank possible - our owners,
customers and local communities. Through community funding and sponsorships, we
support local initiatives, activities and meeting places throughout Eastern
Norway. Our owner foundations do the same, using the dividends they receive from
their ownership in the bank to support a wide range of worthy causes. This is an
important part of the savings bank model, and the bank's development is closely
linked to the communities we are part of," concludes Aasen.

3Q 2026 (Consolidated figures. Figures in brackets concern the corresponding
period in 2025)
-	Profit after tax: NOK 756 (876) million
-	Return on equity: 11.2 (13.5) per cent
-	Earnings per equity capital certificate: NOK 3.85 (4.48)
-	Net interest income: NOK 1,156 (1,193) million
-	Net commissions and other operating income: NOK 481 (508) million
-	Net income from financial assets and liabilities: NOK 135 (252) million
-	Total operating expenses: NOK 725 (727) million
-	Net loan loss provisions: NOK 92 (121) million
-	Lending growth in the last quarter, including mortgages transferred to the
covered bond companies: 1.6 (1.1) per cent
-	Deposit growth in the last quarter: -2.2 (-2.0) per cent
-	Common Equity Tier 1 capital ratio: 17.9 (17.3) per cent

Contact information: 
Klara-Lise Aasen, Group CEO, Tel.: +47 476 35 583
Geir-Egil Bolstad, CFO, Tel.: +47 918 82 071 
Bjørn-Erik R. Orskaug, Head of Investor Relations, Tel.: +47 922 39 185


This information must be disclosed pursuant to section 5-12 of the Securities
Trading Act.
stor Relations\, Tel.: +47 922 39 185\
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This information must be disclosed pursuant to section 5-12 of the Securities\
Trading Act.\