SpareBank 1 Nord-Norge receives SREP decision from The Financial Supervisory Authority of Norway

12 Dec 2023 10:13 CET

The Financial Supervisory Authority of Norway (Finanstilsynet) conducts regular
assessments of SpareBank 1 Nord-Norge's risk and capital requirements (SREP).
The bank normally undergoes a SREP every second year, and as part of this
process, a decision is made concerning Pillar 2 Requirement (P2R) and
expectations regarding the capital buffer (P2G).

SpareBank 1 Nord-Norge has now received this year's SREP decision from
Finanstilsynet. The requirements will apply from 31. December 2023. SpareBank 1
Nord-Norge’s new Pillar 2 requirement (P2R) amounts to 1.4 per cent of the risk
weighted assets (RWA). This is 0.1 percentage point lower than current SREP
decision from 2022 (1.5 per cent). Minimum 56.25 per cent of the requirement
must be covered by CET1, while 75 per cent must be covered by CET1 and AT1. This
is also a change from the current SREP decision from 2022, and means that the
regulatory requirement for CET1 ratio is reduced by 0.7 percentage points
overall.

Finanstilsynet also expects SpareBank 1 Nord-Norge to have a capital buffer
(P2G) in the form of CET1 of 1 percentage point. This is in line with the bank's
already established internal capital target.

For further information:
Marius Nilsen, CRO, tel: +47 416 20 532
Bengt Olsen, CFO, tel: +47 975 89 560

This information is subject to the disclosure requirements pursuant to section
5-12 of the Securities Trading Act.

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