Annual Report 2021 of Spar Nord

Company announcement no. 3

DKK 1,368 million net profit and 12.9% return on equity

Reporting a net profit of DKK 1,368 million after tax, Spar Nord today announced the strongest-ever financial performance in the Bank’s 197-year history.

Throughout 2021, we experienced a high level of customer activity, and combined with our acquisition of BankNordik’s Danish business this produced a full 19% increase in business volume. The positive performance of the Bank's core business resulted in core earnings before impairment of DKK 1,581 million, which is 29% higher than last year.

The annual results were also favourably impacted by the reversal of loan impairment charges totalling DKK 120 million. The reversals reflect continuing positive developments in the Danish economy and an unchanged strong credit quality for the Bank’s retail and business customers.

On the basis of the highly satisfactory results for 2021, and in accordance with the Bank’s dividend policy, Spar Nord intends to pay total dividends of DKK 5.00 per share for 2021, equal to 45% of the profit for the year.

The Board of Directors recommends to the shareholders at the Annual General Meeting that initial dividends of DKK 2.50 per share be paid, and that the Board of Directors be authorised to pay up to an additional DKK 2.50 per share, said Spar Nord’s CEO Lasse Nyby.

Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. , or Rune Brandt Børglum, Head of Investor

Relations, on tel. .

Rune Brandt Børglum

Head of Investor Relations

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