Commentary & Deal Flow

IPTs: 5yr: MS+80/85bp

• Issuer: SpareBank 1 SMN (Ticker: MINGNO)
• LEI: 7V6Z97IO7R1SEAO84Q32
• Exp. ratings: Aa3 (Moody's)
• Format: Senior Preferred Notes, Unsubordinated and Unsecured
• Form: Reg S, Bearer, NGN, Green Bonds
• Currency: Euro ("EUR")
• Pricing Date: 10-Jun-26
• Settlement: 17-Jun-26 (T+5)
• Maturity: 17-Jun-31 (5-year)
• Size: €500m WNG
• IPT: MS+80-85bps
• Coupon: Fixed, Annual, Act/Act (ICMA)
• Denoms: €100k+€1k
• Listing: Luxembourg Stock Exchange
• Waiver of Set-Off Rights: Not Applicable (Condition 2 (b))
• Prior consent of regulator: Applicable as per Condition 6 (j), for early redemptions or substitution or variation
• Clean-up Call: Applicable, outstanding nominal amount of the Notes is 20% (Condition 6 (d))
• Early redemption for taxation reasons: Applicable (Condition 6 (b))
• Early redemption following an MREL Disqualification Event: Applicable (Condition 6 (l))
• Substitution or variation following an MREL Disqualification Event: Applicable (Condition 6 (n))
• Restricted Gross-Up: Applicable (Condition 7)
• Events of Default: Limited Events of Default (Condition 9)
• Law: English Law, except Condition 2 and 3,(Status of the Notes) which will be governed by, and construed in accordance with, Norwegian law
• Use of Proceeds: An amount equivalent to the net proceeds will be allocated to fund Green Projects (as defined in the Base Prospectus)
• Documentation: SpareBank 1 SMN, SpareBank 1 Nord-Norge and SpareBank 1 Østlandet EUR10bn EMTN Programme, prospectus dated 04-Jun-26 (the “Base Prospectus”)
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Base Prospectus is available at https://www.sparebank1.no/en/smn/about-us/investor/financial-info/funding/archive.html and the Final Terms, when published, will be available at https://www.luxse.com/programme/Programme-Sparebank1SMN/12549
• Joint Lead Managers: BNP Paribas, DekaBank, Goldman Sachs International, ING Bank N.V., Nordea
• Sole Green Bond Structurer: ING Bank N.V.
• ISIN / Common code: XS3408760596 / 340876059
• Target Market: MiFID II/UK MiFIR professionals/ECPs only. No EU PRIIPs key information document and no UK disclosure document required by DISC have been prepared as notes not available to retail in the EEA or UK
• Selling Restrictions: As per the Base Prospectus Reg S, Cat 2, TEFRA D
• Fees: The Banks will be paid a fee by the issuer in respect of the placement of the Securities.
• Timing: Books open, today’s business