At the start of 2025, Sparebanken Møre can report good activity and growth, as
well as low losses.

After the first 3 months of the year, the profit after tax amounted to NOK 232
million, the return on equity was 11.2 per cent and the cost income ratio 44.5.
The bank's long-term targets remain a return on equity of more than 13 per cent
and a cost income ratio below 40. The bank is financially solid with a CET1
capital ratio of 17 per cent. 

Strong position in Nordvestlandet
In the past 12 months, the bank has seen a total lending growth of 6.6 per cent
and total deposit growth of 6.4 per cent. The bank is strengthening its market
leader position. In the first quarter, the strongest growth in the retail market
was seen in the municipalities in Nordmøre. 

"The competition for customers is fierce, but we are enjoying good growth in
both the retail and corporate markets. Pressure on margins and high liquidity
are affecting net interest income, although at the same time it is pleasing to
see that our focus on investment advice has helped to boost other income by 24
per cent compared with the same period last year," says the CEO of Sparebanken
Møre, Trond Lars Nydal. 

In March, Nydal and the bank hosted the 18th edition of "Børs og Bacalao", a
popular and important forum for investors, investment advisers and the business
community in the region. About 600 people took part in the investor conference
in Ålesund. 

Solid portfolio and low losses
The bank has a solid and well-diversified portfolio and is seeing few
credit-impaired commitments and customers experiencing payment problems. The
first quarter saw a 23.5 per cent reduction in losses compared with the same
period in 2024.

- "Close customer follow-up is a core element of our services and helps keep
losses low. Being close to our customers, specialist expertise and good risk
assessments provide security for both parties, and this is reflected in these
figures," says Nydal.

Good financial strength and liquidity provide confidence
Sparebanken Møre is financially strong and has good liquidity, which provides
confidence in a volatile economic environment. The bank has the capacity for
further growth and development. This provides a good basis for our role as a
reliable supporter for our customers and development in the region.

Future prospects
The first quarter was marked by political initiatives from the new US
government. The uncertainty surrounding the future performance of the global
economy remains high, and as a small, open economy, Norway will be impacted by
the direction this takes. Meanwhile, the Norwegian economy has a relatively good
starting point. Unemployment remains low and in the first quarter there were
signs of activity levels recovering in most industries. High wage growth
combined with lower inflation also appear to ensure households will see some
increase in purchasing power this year.  

Key figures - Q1 2025
o Net interest income: NOK 485 million/1.87 per cent (NOK 508 million/2.07 per
cent)
o Profit before loss: NOK 315 million (NOK 350 million)
o Profit after tax: NOK 232 million (NOK 254 million)
o Return on equity: 11.2 per cent (13.1 per cent)
o Cost/income ratio: 44.5 per cent (39.5 per cent)
o CET1 capital ratio: 17.0 per cent (18.5 per cent)
o Earnings per equity certificate (Group): NOK 2.13 (NOK 2.41)
o Lending growth in the past 12 months: 6.6 per cent (6.9 per cent) 
o Deposit growth in the past 12 months: 6.4 per cent (9.0 per cent)

Comparable figures for Q1 2024 in brackets.

Contacts
o Trond Lars Nydal, CEO, Mobile: +47 951 79 977
o John Arne Winsnes, CFO, Mobile: +47 462 80 999
o Trine Kvalheim, Chief Information Officer, Mobile: +47 454 65 680

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