3 GENERAL Sparebanken Sør Boligkreditt AS is a wholly-owned subsidiary of Sparebanken Sør. The company is licensed by the Financial Supervisory Authority of Norway to operate as a mortgage company and is allowed to issue covered bonds. Sparebanken Sør Boligkreditt AS is part of Sparebanken Sør’s long-term ﬁnancial strategy. All shares are owned by Sparebanken Sør, and the ﬁnancial statements are consolidated into the ﬁnancial statements of the Sparebanken Sør Group. Sparebanken Sør Boligkreditt AS’ operations are subject to supervision by the Financial Supervisory Authority of Norway. An investigator has been specially appointed for the mortgage company to attend to the quarterly analysis of the company’s cover pool. The cover pool consists of secured mortgages, substitute assets in interest-bearing securities and ﬁnancial derivatives. The mortgages are granted by Sparebanken Sør and later taken on by Sparebanken Sør Boligkreditt AS. The secured mortgages meet the requirements established by the company for inclusion in the company’s cover pool. One important requirement is that any outstanding loan balance taken on by the company, must not exceed 80 percent of the mortgaged property’s market value at the date of acquisition. The EU directive 2019/2162 (The Covered Bonds Directive) came into force 8 July 2022. Only Premium European covered bonds that satisfy the guidelines and meet the requirement of Article 129 of the CRR, will beneﬁt from preferential regulatory treatment. The Norwegian Financial Supervisory Authority has approved Sparebanken Sør Boligkreditt AS’ European Covered Bond Premium Program. Covered bonds issued by Sparebanken Sør Boligkreditt AS that complied under existing legislation before 8 July 2022, will be grandfathered and eligible for preferential treatment to maturity. The new regulation restricts funding coverage for mortgage covered bonds to the asset’s loan-to-value threshold of 80 percent (from previously 75) for residential mortgages. At the end of 2023, the company had taken on a mortgage loan portfolio totalling NOK 55 832 million, transferred from Sparebanken Sør, of which NOK 55 459 million was included in the qualiﬁed cover pool. The portfolio of bonds and certiﬁcates totalled NOK 2 158 million at the end of 2023. Sparebanken Sør Boligkreditt AS had issued covered bonds totalling NOK 49 732 million. The company has established an EMTCN (European Medium Term Covered Note) Programme, which enables the company to diversify funding by issuing covered bonds outside the Norwegian bond market. INCOME STATEMENT / BALANCE SHEET DEVELOPMENT The ﬁnancial statement of Sparebanken Sør Boligkreditt AS shows a proﬁt after tax of NOK 299.1 million at the end of 2023, compared to NOK 258.6 million in the same period in 2022. The company had net interest income of NOK 470.9 million, compared to NOK 446.4 million in 2022. Net income from ﬁnancial instruments totalled NOK 7.7 million in 2023, compared to a negative contribution amounting to NOK 32.8 million in 2022. The improvement is related to an increased net income from hedging and positive changes in value from certiﬁcates and bonds. The company has issued covered bonds in Euros under the EMTCN Program. To control interest and currency exposure, the company has established swap arrangements (basis swaps), to convert foreign currency into NOK. The impact on earnings related to changes in the value of the basis swap aﬀected the income from ﬁnancial instruments by NOK 0 million in 2023. Assuming that the covered bonds in foreign currency are held to maturity, the total change in fair value is equal to zero. The accounting eﬀects will therefore be reversed over time. Operating expenses totalled NOK 106.4 million in 2023 compared to NOK 103.5 million in 2022. Tax expenses were NOK 75.3 million in 2023. Corresponding ﬁgures in 2022 were NOK 30.9 million. In 2022, NOK 33,8 million was recognised as income as a result of changed tax rate in the company for the period 2019-2021. In 2023, an additional amount of NOK 7.3 million was recognised for the years 2017-2018 respectively. Total assets as at 31 December 2023 were NOK 60 057 million, of which net loans to customers represented NOK 55 808 million. At the same time in 2022, the corresponding ﬁgures were NOK 63 664 million and NOK 56 562 million respectively. As at 31 December 2023, the loan portfolio was ﬁnanced through the issuance of bonds amounting to NOK 49 732 million and through equity and drawing rights from Sparebanken Sør. At 31 December 2023, the company had paid-in capital totalling NOK 2 575 million, of which NOK 2 075 million was share capital and NOK 500 million was share premium. Sparebanken Sør Boligkreditt AS has an overdraft facility of NOK 5 000 million with Sparebanken Sør, of which NOK 4 544 million was drawn down at 31 December 2023. In accordance with Norwegian accounting legislation, the Board of Directors conﬁrms that the conditions for presenting the ﬁnancial statements on a going- concern basis are met. Board of Director’s report

4 CAPITAL STRENGTH At the end of 2023, the net subordinated capital in the company was NOK 4 390 million. This corresponds to a common equity tier 1 capital ratio/tier 1 capital ratio/total capital ratio of 19.0 percent, while regulatory minimum requirements are set at 14.0 percent, 15.5 percent and 17.5 percent respectively. The capital adequacy ratio has been calculated based on the standard method in the Basel II-regulations. The Board of Directors considers the company’s ﬁnancial strength and risk-bearing ability to be very good. CORPORATE GOVERNANCE Sparebanken Sør Boligkreditt AS’ corporate governance principles are based on the Norwegian Code of Practice for Corporate Governance (NUES). The company has adapted this framework, and Sparebanken Sør Boligkreditt AS`s principles and policy intend to ensure that its corporate governance is in accordance with generally accepted and recognised perceptions and standards, and in compliance with laws and regulations. The company’s corporate governance shall ensure good interaction between diﬀerent stakeholders such as shareholders, lenders, customers, employees, governing bodies, management and society. The corporate governance principles have been speciﬁed in various documents governing the company’s operations. This includes the company’s articles of association, strategies and governance framework. In the Board of Directors’ opinion, the corporate governance of Sparebanken Sør Boligkreditt AS is satisfactory and in compliance with applicable principles and policies. Sparebanken Sør Boligkreditt AS’ mission follows from the company’s articles of association. The company’s mission is to acquire mortgages and fund lending activities primarily by issuing covered bonds. Operations will be run at satisfactory proﬁtability and low risk. The Board of Directors of Sparebanken Sør Boligkreditt AS has an annual meeting and conducts an annual review of the company’s business strategy. 7 board meetings took place in 2023. Follow- up on operations, strategy, risk, and capital management and monitoring of the markets and framework conditions have been the areas of focus for the Board of Directors. The company’s risk strategy has been adopted by the Board of Directors, which conducts an annual review of the company’s risk management and internal control. Identiﬁed areas of risk and any material deviations are followed up and reported on a regular basis. Sparebanken Sør Boligkreditt AS has signed operating agreements with Sparebanken Sør. These agreements cover capital management, risk management, internal audit, ﬁnancial reporting, internal ﬁnancial control and internal ﬁnancial reporting. In addition to reviewing the accounts and risk reporting, the company`s management provides regular operational reports in relation to the company’s ﬁnancial objectives to the Board, at each Board meeting. The company’s ethical guidelines include a duty to report matters that warrant criticism, including breaches of internal guidelines, laws and regulations, and a procedure for how such information is to be given. Large companies must provide information about their management of corporate social responsibility (cf. Section 3-3c of the Norwegian Accounting Act). The Parent Bank, Sparebanken Sør, delivers such a statement for the Group, which also covers its subsidiaries. For further information, please refer to the annual report of Sparebanken Sør. Sparebanken Sør Boligkreditt AS is a wholly-owned subsidiary of Sparebanken Sør and is exempt from the requirement for a separate audit committee. The Compliance function is taken care of through the company’s agreement with Sparebanken Sør. The company has an independent external auditor (PWC) and an internal audit (Sparebanken Sør). BDO has been appointed as an investigators as of Q1 2023. Sparebanken Sør Boligkreditt AS’s operations are subject to supervision by the Financial Supervisory Authority of Norway. The Board of Directors and management endeavour to maintain an open and constructive dialogue with the Financial Supervisory Authorities. RISKS As a licensed mortgage company, Sparebanken Sør Boligkreditt AS is subject to a number of acts, regulations, recommendations and regulatory provisions. The objective of the company is to ﬁnance lending activities through the issuing of covered bonds with a high public rating. This means that Sparebanken Sør Boligkreditt AS strives to maintain a low risk level. The company has established Board approved guidelines and limits for management and control of various areas of risk, which meet regulatory, rating agency and investor requirements. The company places emphasis on identifying, measuring and controlling elements of risks in such a way that the market has high conﬁdence in the company and that the company can achieve a high rating on issued bonds. The company’s credit strategy and credit policy include requirements imposed on borrowers, as well as collateral requirements for loans that may be taken on by the company. The Board of Directors considers the overall quality of the lending portfolio to be very good and the credit risk to be low. In accordance with Board-approved requirements, stress testing of the value of the cover pool was conducted in 2023 by simulation of a sharp fall in house prices. The Board of Directors found the result of the stress tests to be satisfactory. The company’s mortgages to customers are in NOK at both ﬁxed and ﬂoating interest rates with two months’ notice of interest adjustment. Financing is met by the issuance of both ﬂoating and ﬁxed-rate bonds in NOK and EUR. Foreign currency debt is swapped to NOK and ﬁxed-rate debt is swapped to ﬂoating rates. Foreign currency debt and debt at a ﬁxed interest rate, are accounted for by using hedge accounting. The Board of Directors considers the overall market risk to be low.

5 The company issues covered bonds with the opportunity to extend the maturities by up to 12 months, given an approval by the FSA. In addition, ﬁnancing needs are met by using equity and credit facilities with Sparebanken Sør. The Board of Directors considers the company’s liquidity risk to be low. As at 31.12.2023 the company had a liquidity portfolio in addition to substitute assets, and was compliant with the liquidity requirements imposed on ﬁnancial institutions, with a LCRtotal ratio of 443 percent and LCREUR ratio > 100 percent. As of 31.12.2023 the mortgages in the cover pool had an average loan-to-value of 53.9 percent. Over-collateralization was 16.6 percent and given a stress-test on asset prices of 30 percent, the OC was above the legislative OC level of 5 percent. A Management Service Agreement has been established with Sparebanken Sør, that encompasses the supply of all necessary services for the operation of the company. The Board of Directors considers the company’s operational risk to be low. EMPLOYEES AND WORKING ENVIRONMENT At 31 December 2023, the company had no employees and there are no relevant comments regarding the internal working environment. The Board is composed of four persons, one of whom is female. GREEN COVERED BONDS Sparebanken Sør Group has a Green and Sustainability Bond Framework in place, under which Sparebanken Sør Boligkreditt AS has issued green covered bonds. The proceeds are allocated to a mortgage portfolio, ﬁnancing energy-eﬃcient residential buildings in Norway. The bond framework, which is aligned with ICMA Green Bond Principles, was updated in Q1 2022. RATING Covered bonds issued by Sparebanken Sør Boligkreditt AS in NOK and EUR have been given an Aaa rating by Moody’s. Sparebanken Sør Boligkreditt AS has since June 2023 been assigned an A1/ Prime-1 issuer rating by Moody`s, in line with ratings assigned by Moody`s on the parent bank. SOCIAL RESPONSIBILITY The company requires social responsibility work to take place in close cooperation with and according to the same guidelines as in Sparebanken Sør. The company does not carry out any activities that pollute the external environment. DISTRIBUTION OF PROFIT The total proﬁt after tax for 2023 is NOK 299.1 million. The Board of Directors proposes to the Annual General Meeting a dividend payment of NOK 250.0 million. Kristiansand, 26 February 2024 The Board of Directors of Sparebanken Sør Boligkreditt AS Geir Bergskaug Chairman Seunn Smith-Tønnessen Member Svein Ole Holvik Member Steinar Vigsnes Member Marianne Lofthus Managing Director

7 Balance sheet Notes 1 to 28 are an integral part of the ﬁnancial statements. NOK Thousand Notes 31.12.2023 31.12.2022 ASSETS Loans to and receivables from credit institutions 18, 19, 21, 23, 25 973 207 76 670 Net loans to customers 5, 6, 7, 8, 9, 10, 11, 18, 19, 22, 23 55 807 966 56 561 879 Bonds and certiﬁcates 18, 19, 20 2 158 343 6 458 757 Financial derivatives 18, 19, 23, 24 1 071 168 493 132 Deferred tax assets 17 16 714 0 Other assets 29 879 73 973 TOTAL ASSETS 60 057 278 63 664 411 LIABILITIES AND EQUITY Debt to credit institutions 12, 14, 18, 19, 23, 25 5 411 372 4 027 018 Debt incurred due to issuance of securities 12, 13, 14, 18, 19, 21, 25 49 732 184 53 277 192 Financial derivatives 18, 19, 23, 24 138 210 1 821 055 Payable taxes 17 105 259 41 317 Deﬀered tax liabilities 0 32 171 Other liabilities 10 446 12 221 TOTAL LIABILITIES 55 397 471 59 210 973 EQUITY Paid-in equity 4, 27 2 575 000 2 575 000 Retained earnings 4 2 084 807 1 878 438 TOTAL EQUITY CAPITAL 4 4 659 807 4 453 438 TOTAL LIABILITIES AND EQUITY CAPITAL 60 057 278 63 664 411 Kristiansand, 26 February 2024 Board of Directors of Sparebanken Sør Boligkreditt AS Geir Bergskaug Chairman Seunn Smith-Tønnessen Member Svein Ole Holvik Member Steinar Vigsnes Member Marianne Lofthus Managing Director

10 NOTE 1 – ACCOUNTING POLICIES 1. GENERAL INFORMATION 2. BASIS OF PREPARATION OF THE FINANCIAL STATEMENT 3. REVENUE 4. FINANCIAL INSTRUMENTS 5. HEDGE ACCOUNTING 6. ACCOUNTING OF EXCHANGE EFFECTS 7. INCOME TAX 8. EQUITY 9. CASH FLOW STATEMENT 10. CHANGES IN ACCOUNTING POLICIES AND NOTES 11. STANDARDS AND INTERPRETATIONS THAT HAVE BEEN APPROVED, BUT NOT YET ADOPTED 1. GENERAL INFORMATION Sparebanken Sør Boligkreditt AS is a wholly-owned subsidiary of Sparebanken Sør and has its registered oﬃce in Kristiansand. The company is licensed to operate as a mortgage company with the right to issue covered bonds. The main object of Sparebanken Sør Boligkreditt AS is to acquire loans secured through mortgages on residential property within 80 percent of the property value, and to issue covered bonds to national and international investors. All amounts in the ﬁnancial statements are stated in NOK thousand, unless otherwise indicated. The company’s ﬁnancial statements are presented in Norwegian kroner, which is the functional currency. The ﬁnancial statements for 2023 were presented by the Board of Directors on 26 Febryary 2024, and will be adopted with ﬁnal eﬀect at the General Meeting on 26 February 2024. The General Meeting is the company’s supreme body. 2. BASIS OF PREPARATION OF THE FINANCIAL STATEMENT The company`s ﬁnancial statements have been prepared in accordance with the IFRS Accounting Standards as adopted by the EU, in addition to the Norwegian disclosure requirements pursuant to the Norwegian Accounting Act. The measurement basis for the ﬁnancial statement is historical cost with the exception of ﬁnancial assets and liabilities, including derivatives that are assessed at fair value with change in value through proﬁt or loss. 3. REVENUE Interest income and expenses related to assets and liabilities, which are measured at amortised cost, are recognised in income on an ongoing basis using the eﬀective interest method. All charges related to interest-bearing loans and borrowings are included in the calculation of the eﬀective interest rate and amortised over the expected term. Interest income is calculated based on gross loan for loan to customers in stage 1 and 2 and net loans for loans to customers in stage 3. Commission income and expenses which are a direct payment for services provided are recognised when the services have been delivered. Directly attributable transaction costs associated with ﬁnancial instruments valued at amortised cost, are amortised over the anticipated lifetime of the instrument. 4. FINANCIAL INSTRUMENTS A ﬁnancial instrument is any contract that gives rise to a ﬁnancial asset for one enterprise and a ﬁnancial liability or an equity instrument for another enterprise. Financial instruments are measured and classiﬁed in accordance with IFRS 9. Note disclosures have been prepared in accordance with IFRS 7. Recognition and deductions Financial assets and liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. A ﬁnancial asset is derecognised when the contractual rights to the cash ﬂows from the ﬁnancial asset expire, or the company transfers the ﬁnancial asset in such a way that the risk and proﬁt potential of the asset concerned is essentially transferred. A ﬁnancial liability is derecognised when the liability has been discharged, cancelled or has matured. When an existing ﬁnancial liability is replaced by a new liability from the same lender under terms that have been materially changed, or the terms of an existing liability have been materially modiﬁed, the original liability is derecognised and a new liability is recognised. The diﬀerence in capitalised value is recognised through proﬁt or loss. Classiﬁcation and measurement Measurement of the ﬁnancial asset is determined on initial recognition of the asset. Financial assets are to be measured by the following three categories in IFRS 9: • Fair value with changes in value recognised through proﬁt or loss. • Amortised cost. • Derivatives designated as hedging instruments recognised at fair value. Notes

11 Classiﬁcation on initial recognition is based on the instruments being held in a business model both to receive contractual cash ﬂows and for sale, and whether contractual cash ﬂows solely consist of payments of interest and principal on given dates. Financial instruments that are held to receive contractual cash ﬂows, are to be measured at amortised cost. Instruments with cash ﬂows that are not only payments of interest and principal or if the purpose of possessing the instrument is not to receive contractual cash ﬂows, are to be measured at fair value with changes in value recognised through proﬁt or loss. Derivatives used in connection with hedge accounting are measured according to the principles for hedge accounting. See separate section. Fair value with changes in value recognised through proﬁt or loss All derivatives are measured at fair value with changes in value recognised through proﬁt or loss. However, derivatives designated as hedging instruments are recognised in accordance with the principles of hedge accounting. The company has chosen to recognise holdings of interest-bearing bonds and certiﬁcates at fair value through proﬁt and loss. These are assets and liabilities that are managed, measured and reported to management at fair value. This category additionally covers interest rate swaps and currency swaps established before 1 January 2018 and used as instruments for the fair value hedging of bonds issued at ﬁxed interest rates. Hedge accounting is discussed further in a separate section below Amortised cost The company measures ﬁnancial assets at amortised cost if the following conditions are met: • The ﬁnancial asset is held in a business model, whose purpose is to receive contractual cash ﬂows, and • the contractual terms for the ﬁnancial asset lead to cash ﬂows which consist exclusively of payments of principal and interest on given dates. Debt instruments which sole purpose is to hold the instrument to collect contractual cash ﬂows are to be recognised at amortised cost. All borrowings and lendings at variable interest rates are classiﬁed at amortised cost. Derivatives designated as hedging instruments recognised at fair value Interest rate swaps and currency swaps used as instruments for the fair-value hedging of bonds issued at ﬁxed interest rates. Hedge accounting is discussed further in a separate section. Subsequent measurement Measurement at fair value with changes in value recognised through proﬁt or loss Fair value is the price that would be obtained upon the sale of an asset or the price that would be paid to transfer a liability in an orderly transaction between market participants at the time of valuation. Measurement of ﬁnancial instruments traded on an active market Financial instruments traded on an active market are valued at observed market prices. Measurement of ﬁnancial instruments not traded on an active market The fair value of ﬁnancial instruments not traded on an active market is determined using a suitable valuation method. Valuation techniques are based on recent transactions between independent parties, by reference to instruments with approximately the same content or by discounted cash ﬂows. As far as possible, valuations are based on externally observed parameters. Fair value of interest-bearing securities is determined on the basis of established market values, reported by leading external market players, or at fair value calculated on the basis of the prevailing market yield and credit spread curves. In calculating the fair value of interest rate swaps, the prevailing market value of the relevant inter-bank interest rate curve is used. Measurement at amortised cost Subsequent measurement of ﬁnancial instruments measured at amortised cost, is performed using the eﬀective interest method and is subject to loss provisions. Gains and losses are recognised through proﬁt or loss when the asset is derecognised, modiﬁed or impaired. Financial assets at amortised cost, include receivables from customers and loans to customers. Amortised cost is deﬁned as the carrying amount on initial recognition, less received/paid interest and instalments, including accrued eﬀective interest, adjusted for net impairment losses and the net recognised eﬀect of any hedging. The eﬀective interest method is a method that calculates amortised cost and accrues interest income/expenses for the relevant period. Interest income is recognised using the eﬀective interest method. The eﬀective interest rate is the interest rate that by discounting the loan’s cash ﬂows over the anticipated term, gives a value equal to the loan’s amortised cost on the date of its establishment. Derivatives designated as hedging instruments recognised at fair value Interest rate and currency swaps are measured at fair value in the balance sheet. Changes in value are recognised through proﬁt or loss with the exception of interest rate and currency swaps entered into on or after 1 January 2018. In this case changes in value due to changes in spreads will be recognised through other comprehensive income as a hedging eﬀect.

12 Oﬀsetting Financial assets and liabilities are oﬀset and recognised as a net amount in the balance sheet only when the company has a legally enforceable right to oﬀset, and intends to realise the asset and settle the liability simultaneously as a whole. Modiﬁcation When the contractual cash ﬂows from a ﬁnancial asset are renegotiated or altered in some other way, and the renegotiation or change does not lead to derecognition of the ﬁnancial asset, the gross recognised value of the ﬁnancial asset is recalculated and any gain or loss on the change is recognised in proﬁt or loss. The gross recognised value of the ﬁnancial asset is recalculated as the present value of the renegotiated or changed cash ﬂows, discounted at the original eﬀective interest rate of the ﬁnancial asset. Any incurred expenses and fees adjust the recognised value of the changed ﬁnancial asset and are depreciated over the remaining life of the changed ﬁnancial asset. Impairment of ﬁnancial assets Provision is made for expected credit losses (ECL) based on relevant information available at the time of reporting, including historical, current and future information. Loss allowances are calculated based on probability of default (PD), loss given default (LGD) and exposure at default (EAD). The model used to calculate provisions for expected losses depends on whether there has been a signiﬁcantly increased in credit risk since initial recognition. On initial recognition and in cases where the credit risk has not signiﬁcantly increased since initial recognition, a provision is recognised for expected losses over the next 12 months. Expected losses over the next 12 months are losses that are expected to incurre over the lifetime of the instrument, of which can be linked to events occuring during the next 12 months. Expected credit losses over the whole term are calculated for assets where the credit risk has increased materially since initial recognition, except for assets which are nevertheless assessed as having a low absolute credit risk on the reporting date. The expected credit loss for exposures that have been qualitatively assessed is calculated based on the present value of all cash ﬂows over the expected residual lifetime. In eﬀect, this is the diﬀerence between the contractual cash ﬂows in accordance with the agreement and the cash ﬂow that the company expects to receive, discounted at the eﬀective interest rate of the instrument. The expected cash ﬂows shall cover cash ﬂows from the sale of collateral or other credit enhancements that are embedded in the contract terms. In the balance sheet, loan impairments reduce the carrying amounts of the exposures. In the income statement, losses on loans consist of realised losses, changes in loss allowance, income on loans and provisions for guarantees and unused credit facilities, as well as income relating to recovery of previously realised losses. Losses on loans are based on a qualitative assessment of the company’s loan portfolio in accordance with IFRS 9. For a further description, please refer to Note 7. Loans with low credit risk The company does not utilize the low credit risk exemption for loans to customers. The simpliﬁcation rules are applied for lending to credit institutions and central banks. This means that the company assesses whether the instruments that had a low credit risk on initial recognition still have a low credit risk at the balance sheet date. This assessment is made using relevant available information that can be obtained without undue cost or eﬀort. Reduction in the value on loans as a result of qualitative assessments Loss allowance based on qualitative assessments is recognised when there are objective and observable indications that a loan is impaired as a result of a credit loss. Loss allowance is reversed when the loss is reduced and the reduction is objectively attributable to an event occurring after the date on which loss allowance was recognised. All loans regarded as signiﬁcant will be assessed to see whether there is objective evidence of weakened creditworthiness, and the objective indication is highly likely to result in reduced future cash ﬂows for the servicing of the exposure. A customer’s commitment is deﬁned as default if the contractual payments have been overdue for more than 90 days, and the amount exceeds NOK 1,000 and 1 percent of the customer’s obligations (payment default). A customer’s commitment is deﬁned as default if it is probable that the borrower will not fulﬁl its obligations due to objective requirements: • Loss write-downs have been registered on the customer’s obligation • Incurred losses have been recognised for the customer • A bankruptcy petition has been ﬁled or the customer has been declared bankrupt • The customer has applied for or is in a debt settlement • Sale of credits due to deteriorating credit quality A customer’s commitment is deﬁned as default if qualitative assessments are made that indicate that the borrower is not fulﬁlling its obligations. Qualitative assessments are made when observable data is available relating to the exposure, for example signiﬁcant ﬁnancial diﬃculties at the issuer or borrower. When the borrower’s lender, due to ﬁnancial or contractual grounds relating to the borrowers’ ﬁnancial diﬃculties, has granted the borrower concessions that the lender would not otherwise have considered and when it becomes probable that the borrower will enter bankruptcy or undergo another form of ﬁnancial reorganization. Reduction in the value of loans and unused credit facilities as a result of model-based calculations Loans that have not been subject to qualitative impairment assessments are included in the basis of calculation for model- based impairments. The same applies to guarantees and unused credit facilities.

13 The model assessing the impairment of ﬁnancial assets under IFRS 9 applies to ﬁnancial assets measured at amortised cost and ﬁnancial assets measured at fair value through other comprehensive income. The standard also contains requirements for loss provisions on new loans, by stipulating that an impairment must be recognised for expected credit losses resulting from expected defaults in the next 12 months. The model calculates losses for all customers at account level. The model also includes loan approvals, guarantees and unused lines of credit. For loans where the credit risk has increased materially after initial recognition, an impairment loss corresponding to the expected credit loss over the term of the loan is recognised. Realised losses When it is highly probable that a loss is ﬁnal, it is recognised as a realised loss. Some realised losses will be covered by previously recognised, qualitatively assessed loss allowance, and will therefore be recognised against the existing provision. Realised losses not covered by qualitatively assessed loss allowance, as well as any surplus or deﬁcit in relation to previously recognised loss allowance are recognised through proﬁt or loss. Presentation in the balance sheet and income statement Loans Loans are recorded as either loans to and receivables from credit institutions or as net loans to customers. Interest is included in the income statement under interest income from assets valued at amortised cost. Changes in value due to loss allowance are included in the income statement under losses on loans, guarantees and unused credit facilities. Bonds and certiﬁcates This balance sheet item includes the company’s certiﬁcate and bond portfolio. Interest is included in the income statement under interest income from assets at fair value. All changes in value are recognised in the income statement under net income from ﬁnancial instruments. Financial derivatives (assets and liabilities) This balance sheet item includes ﬁnancial derivatives. Changes in value related to the derivatives are recognised in the income statement under net income from ﬁnancial instruments. Liabilities to credit institutions Balance sheet items include liabilities to credit institutions. Interests is recognised in the income statement under interest expenses. Liabilities incurred due to issue of securities This balance sheet item includes issued securities debt. Interest is recognised in the income statement under interest expenses. In case of early redemption or repurchase of issued bonds, any gains and losses are recognised under net change in the value of ﬁnancial instruments. Provisions A provision is recognised when the company has an obligation (legal or self-imposed) due to a previous event, where it is likely (more likely than not) that there will be a ﬁnancial settlement as a result of this liability, and the size of the amount can be reliably determined. If the eﬀect is signiﬁcant, the provision is calculated by discounting the expected future cash ﬂow with a discounted interest rate before tax that reﬂects the market’s pricing of the time value of money, and if relevant, the speciﬁc risks associated with this obligation. 5. HEDGE ACCOUNTING Sparebanken Sør Boligkreditt AS uses hedge accounting in relation to the company’s funding at ﬁxed interest rate terms and in foreign currencies. Hedging instruments are used to counteract the interest risk and foreign exchange risk of the bonds. The criteria for classiﬁcation of a derivative as a hedging instrument are: • The hedge accounting is anticipated to be very eﬀective, in that it counteracts changes in the fair value of the bond issued. • There must be an economic relationship between the hedging instrument and the hedged object, and the eﬀect of credit risk must not dominate any changes in value in the hedging relationship. • It must be possible to measure the eﬀectiveness of hedging reliably • Satisfactory documentation has been established prior to hedging which shows, among other things, that the hedging is eﬀective and is expected to remain eﬀective throughout the period. Sparebanken Sør Boligkreditt AS uses fair value hedging. Hedging is measured and documented every quarter to ensure that it is eﬀective. The dollar-oﬀset method is used to measure the eﬀectiveness of hedging. When the hedging is established and eﬀective, interest rate swaps and currency swaps will be recognised in the balance sheet at fair value and in the income statement under net income from ﬁnancial instruments. The hedged item is recognised in the balance sheet at amortised cost. Changes in fair value associated with the hedged risk are accounted for as a supplement or deduction in the book value of the bond debt and is recognised in income under net income from ﬁnancial instruments. IFRS 9 applies qualitative requirements for hedge eﬀectiveness, where a prospective eﬀectiveness test is regarded as adequate. Ineﬀectiveness in hedge accounting, deﬁned as the diﬀerence between the value adjustment of hedging instruments compared to the value adjustment of the hedged risks in the objects, is recognised in the proﬁt and loss. However, the part of the value adjustment due to a change in spreads of the hedging instruments is the exception. For interest rate and currency swaps established on or after 1 January 2018, changes in value due to changes in spreads will be recognised through other comprehensive income as a hedging eﬀect. Basis swaps created before 1 January 2018 are recognised at fair value through proﬁt or loss until these falls due.

14 If circumstances should occur which render hedging ineﬀective, the company will amortise the change in value associated with the hedged item over the residual period. The associated hedging instrument will continue to be measured at fair value with changes in value through proﬁt or loss. 6. ACCOUNTING OF EXCHANGE EFFECTS Income and expenses in foreign currencies are translated into Norwegian kroner (NOK) at the exchange rates prevailing on the transaction date. Balance sheet items denominated in foreign currencies are hedged by corresponding items on the opposite side of the balance sheet, or through hedging transactions. Currency derivatives (currency futures) traded with customers are hedged in a similar manner against another external party. Assets and liabilities in foreign currencies are translated into Norwegian kroner at the banks’ median rates on the balance sheet date. Foreign exchange gains and losses are recognised in the income statement under net income from other ﬁnancial instruments. 7. INCOME TAX Income tax is accrued as a cost, irrespective of when payment is made. The tax expense reﬂects this year’s and future taxes payable as a result of the year’s activity. The tax is expected to oﬀset net income included in this year’s tax expense and in the balance sheet and is designated as tax payable. Deferred tax is calculated based on diﬀerences between the reported results for tax and accounting purposes that will be oﬀset in the future. Tax-increasing and tax-reducing temporary diﬀerences within the same accounting period, are oﬀset against each other. Any net deferred tax assets are recognised as an asset in the balance sheet when it is probable that the tax-reducing diﬀerences will be realised. The company will likewise reduce the deferred tax asset to the extent that the company no longer considers it probable that it can make use of the deferred tax asset. 8. EQUITY The equity in Sparebanken Sør Boligkreditt AS consists of sharecapital, share premium reserve and retained earnings. Proposed dividend is presented as equity in the balance sheet until a ﬁnal decision is made in the general assembly. 9. CASH FLOW STATEMENT The cash ﬂow statement shows receipts and payments of cash and cash equivalents during the year. Cash and cash equivalents are deﬁned as loans to and receivables from credit institutions. 10. CHANGES IN ACCOUNTING POLICIES AND NOTES Applied accounting policies are consistent with the standards used for the previous accounting period. 11. STANDARDS AND INTERPRETATIONS THAT HAVE BEEN APPROVED, BUT NOT YET ADOPTED There are no changes in new standards or interpretations of existing standards that are relevant and will aﬀect future accounting periods.

15 NOTE 2 – DISCRETIONARY ASSESSMENTS, ESTIMATES AND ASSUMPTIONS With the preparation of the ﬁnancial statements, the management makes estimates and discretionary assessments. Areas that are largely comprised of discretionary estimates have a high degree of complexity, and assumptions and estimates are signiﬁcant for the company’s ﬁnancial statements, which are presented below. GENERAL In applying the Group’s accounting policies, the company’s management has exercised discretion in some areas and made assumptions about future events. There will naturally be an inherent uncertainty related to accounting items based on the use of discretion and assumptions about future events. When exercising discretion and making assumptions about future events, management will use information available at the balance- sheet date, previous experience with similar assessments, as well as market and third-party assessments of current conditions. Although management exercises its best judgment and bases itself on the best estimates available, it must be anticipated that the actual outcome may, in some cases, diﬀer materially from the accounting estimates. Estimates, assumptions and conditions that represent a signiﬁcant risk of material changes in the carrying value of assets and liabilities within the next ﬁnancial year are discussed below. PROVISIONS FOR LOAN LOSSES The accounting area provisions for loan losses is subject to a large degree of discretionary assessments. The accounting area provisions for loan losses is subject to a large degree of discretionary assessments. In 2022, there were major turmoil and ﬂuctuations in the ﬁnancial market that continued into 2023. There was an uncertain macro situation with geopolitical turmoil, hight inﬂation, increasing wages, rising interest rates, and a weak exchange rate, leading to ongoing uncertainty by the end of the year. Models used to calculate future credit losses contains forward- looking macro data, and in events of major changes to the economy, the current models and parameters must be changed accordingly. Macro-data used in the model for calculating future credit losses is shown in note 7 in the ﬁnancial statements. All loans to customers classiﬁed at amortised cost have loss allowances based according to IFRS 9. Loss allowances are to be recognized on all commitments based on expected credit losses (ECL). Each month, all commitments are calculated for future expected losses. At initial recognition, future expected losses are calculated for the next 12 months and all commitment receive an application score. For subsequent periods, commitments where there has been no signiﬁcant increase in credit risk, expected loss for the next 12 months will be calculated and allocated. If there has been a signiﬁcant increase in credit risk, the expected loss for the entire lifetime will be calculated and allocated. In cases when there is observable data related to commitments which, for example, relate to signiﬁcant ﬁnancial diﬃculties of the borrower, the loans will be assessed qualitatively. In such cases, an individual assessment of model-calculated losses will be made and, if needed, model-calculated losses will be overdrawn. For qualitative assessments, write-downs will be calculated as diﬀerence between the loan’s book value and the present value of future cash ﬂows based on the eﬀective interest rate at the time of initial calculation of qualitative impairment. Provisions for loan losses are mostly based on the Group’s risk classiﬁcation models. The group has models for application scores and portfolio scores that form the basis for the risk classiﬁcation. Any weaknesses in these models aﬀect the loss provisions calculated in the model. Assessment of loss allowances, where there is objective evidence of impairment, will always be based on a signiﬁcant degree of discretion. Predictions based on historical information may prove to be incorrect because it can never be known with certainty what relevance historical data has as a basis for making decisions. When collateral values are linked to particular objects or industries in crisis, collateral will have to be realized in low-liquid markets, and assessment of collateral values will be subject to signiﬁcant uncertainty in such situations. The loss model contains data for macroeconomic conditions, and relevant parameters must be adjusted to take account of any changes in the economic climate or macroeconomic conditions. The Group largely uses input from the Monetary Policy Report from Norges Bank and statistics from Statistics Norway as a basis for macro conditions. The timing and selection of parameters to be updated depends on discretionary assessments and may vary between the diﬀerent banks. The quality of the Group’s score and risk classiﬁcation models also has a direct impact on calculated losses allowances. NOTE 3 – RISK MANAGEMENT The objective of Sparebanken Sør Boligkreditt AS is to be a funding instrument for Sparebanken Sør to secure the long-term value creation for the Group. With this objective, it is essential that risk is subject to active and satisfactory management. The objective of Sparebanken Sør Boligkreditt AS is to utilize high- quality residential mortgage portfolios to issue covered bonds. Part of the Sparebanken Sør Group’s business strategy is to keep a low to moderate risk proﬁle for all enterprises. Taking on risks is a basic feature of banking, and risk management is therefore a key area in both daily operations and the Board’s ongoing work. Reference is also made to the Group’s Pilar 3 document, which is available on the website of the Parent Bank (www.sor.no). ORGANISATION Board of Directors The Board has overall responsibility for the company’s total risk management and aims to ensure that the company has appropriate systems in place for risk management and internal control. The Board determines risk strategies, framework for risk appetite, risk proﬁle and tolerance. The Board also determines the guidelines for the capital plan and composition of the capital and approves the process to ensure an acceptably adequate capital level at all times.

16 The company’s management The management and day-to-day operation of Sparebanken Sør Boligkreditt AS is based on a Management Service Agreement between the company and the parent company, Sparebanken Sør. The Managing Director has overall responsibility for the implementation of the company’s credit strategy and credit policy within general mandates and limits adopted by the Board. Responsibility for implementation of the annual assessment of the risk situation and the capital adequacy requirement is handeled by Sparebanken Sør and is regulated by an agreement between the Mortgage Company and Sparebanken Sør. Plans and analyses are integrated with the strategies and plans at Group level. Risk management in Sparebanken Sør takes place at Group level and includes Sparebanken Sør Boligkreditt AS. The bank`s department for monitoring risks will identify, measure and evaluate the overall risk and is in addition handling compliance measures. Internal auditor Sparebanken Sør`s internal auditors handle internal auditing of Sparebanken Sør Boligkreditt AS, as regulated in a separate agreement. This is a monitoring function independent of the administration in general, designed to perform risk assessments, controls and investigations of the company’s internal control and governance processes to assess whether they are appropriate and proper. Risk management process The Group has expedient and appropriate strategies and processes for risk management, the assessment of its capital requirement and how this can be maintained. The collective term for this is ICAAP. RISK CATEGORIES All risks are managed through a framework for risk appetite and risk tolerance. Targets for the diﬀerent risk parameters are in place, and these are: Credit risk Credit risk is deﬁned as the risk of losses due to customers or counterparties being unable to meet their obligations to the company, and the value of underlying security not being suﬃcient to cover the receivables if the security must be realised. Credit risk is the company’s greatest risk, and the risk that requires most capital. Credit risk concerns all claims on counterparties/customers. This means loans and credits, securities and counterparty risk arising from derivatives and foreign exchange contracts. Credit risk is a function of two factors (events): ability and willingness to pay, and the value of underlying collateral. Both factors must occur for losses to take place. The ﬁrst is the lack of ability to pay or willingness to pay of the debtor, and the other is the value of the underlying collateral not being suﬃcient to cover the Company’s requirements for any default and subsequent realization of security. Credit risk is deﬁned as a signiﬁcant risk, and the Company’s policy is that credit risk exposure should be low. The Board approves the Company’s credit strategy and credit policy, and credit risk is controlled by adopted limits and measures linked to the risk proﬁle and exposure on portfolio levels. The Board receives regular reports on credit risk. The development of lending by the various risk classes and migration between these classes are vital in this respect. Counterpart risk Counterparty risk is the risk of the Company’s business partners in the ﬁnancial ﬁeld not being able to fulﬁl their contractual obligations towards the Bank. Derivative contracts must be established with reputable counterparties with a good rating and must be regulated by an underlying ISDA agreement. Derivative contracts must be spread across various counterparties to avoid counterparty concentration. The Company follows the regulations for derivatives trading under EMIR (European Market Infrastructure Regulation) regarding settlement, conﬁrmations, documentation and reporting to authorities. The Company’s counterparty risk is regulated through the establishment of agreements on the furnishing of collateral (Collateral Support Annex) between the parties. Under CSA settlement, the value of derivatives is reconciled with the derivative counterparty, and settlement of collateral takes place. In entering into an agreement for collateral settlement for changes in the value of derivatives, the Company maintains the lowest possible counterparty risk. Settlement risk Settlement risk is a form of credit risk where a contracting party fails to fulﬁl its obligations regarding settlements in the form of cash or securities, upon the Company has given notice of the payment or transfer of a security. Settlement risk that the Company is exposed to is considered to be low. Liquidity risk Liquidity risk is deﬁned as the risk of Sparebanken Sør Boligkreditt AS being unable to meet its obligations or unable to fund its assets, but also not being able to achieve funding without incurring signiﬁcant additional costs, impairment in value of assets that must be realized, or funding costs above a normal cost level. Liquidity risk can arise when events in the ﬁnancial market mean mean that ordinary ﬁnancing can not be established. Liquidity risk is managed through the Group’s liquidity strategy, overarching and Board-approved guidelines, routines, risk tolerance levels and limits. Key operational management parameters are the requirement for the deposit-to-loan ratio, the long-term funding indicator, and the stress indicator for liquidity disposals within 30 days (LCR), as well as the guidelines for survivability in situations where there is no access to market funding. Liquidity risk is also managed by ensuring that funding from the capital market is distributed across various terms to maturity, sources of funding and instruments. Liquidity risk is periodically stress tested, and contingency and recovery plans have been established for the Group. In addition to the LCR, the company analyses liquidity risk using stress tests. According to these analyses, the company would be able to continue operating normally for 24 months in a stress alternative, where new market funding is assumed to be unavailable and the regulatory liquidity reserves can be used. Sparebanken Sør Boligkreditt shall have a moderate to low liquidity risk. Liquidity risk should be on par with comparable companies, but be reconciled with the Bank’s overall risk proﬁle and the Board’s approved capital requirements. The risk proﬁle should be adapted to the current market situation and outlook.

17 Market risk Market risk is the risk of changes in value as a result of changes in market prices. Market risk is divided into interest rate risk, credit spread risk and exchange rate risk. Sparebanken Sør Boligkreditt AS has a low market risk Interest rate risk Interest rate risk is deﬁned as the risk of ﬁnancial losses arising from changes in interest rates if the interest period for the Bank’s liabilities and assets on and oﬀ the balance sheet does not coincide. The interest rate risk limit is determined as an upper limit for losses on unsecured interest rate positions, given shifts or distortions in the interest rate curve. Exchange rate risk Foreign exchange risk is deﬁned as the risk of ﬁnancial (earnings- related) losses arising from an unfavorable change in the value of asset and liability items (on and oﬀ the balance sheet) measured in the base currency (NOK) due to changes in exchange rates. Exposure is measured as the size of the potential losses in a stress scenario, given a change in foreign exchange rate of 25 percent. Spread risk Spread risk is deﬁned as the risk of changes in the market value of interest-bearing securities due to a general change in credit spreads. A general increase in credit spreads would lead to a reduction in value of a portfolio of interest-bearing securities. Changes in credit spread are a consequence of changes in investors’ requirement for risk premium given an anticipated credit risk and / or changes in other market conditions. The company’s credit spread exposure is related to the liquidity portfolio. Business risk Business risk is deﬁned as the risk of unexpected revenue ﬂuctuations from other factors than credit risk, market risk and operational risk. The risk can occur in various business and product segments and is linked to cyclical ﬂuctuations and changes in customer behavior. Business risk can also arise as a result of government regulations. The risk also includes the reputational risk, which is associated with increased losses, reduced income and/or increased costs as a result of a deterioration of the company’s reputation. Strategic risk Strategic risks are deﬁned as internal matters related to the strategy, plans and changes that the Company either has or has proposed. Operational risk Operational risk is the company`s exposure to ﬁnancial losses or loss of reputation due to inadequate or failing internal processes or systems, human errors or external events. The Group has identiﬁed seven main risks within operational risk: supplier and outsourcing risk, ﬁnancial crime, ICT risk, behavioral risk, process risk, compliance risk, risk due to changes and risk related to resources, expertise, and human error. The various main risks have their own qualitative description of risk appetite which is also supplemented with the measurement of quantitative key risk indicators. The group’s overall risk appetite for operational risk is moderate, but for certain subgroups of operational risk, such as ﬁnancial crime, behavioral risk and compliance risk, the bank has a low risk appetite. The bank has zero tolerance for losses that could threaten strategic goals and the bank’s independence. Operational risk is monitored by regular qualitative assessments. The estimated capital requirements for operational risk are carried out under the basic method. The operational business in Sparebanken Sør Boligkreditt AS has been secured through agreements with Sparebanken Sør. Sparebanken Sør Boligkreditt AS’s operational risk is considered to be low. Concentration risk Concentration risk is deﬁned as credit risk arising from high overall exposure to a single counterparty or issuer of security, associated groups of counterparties, Counterparties with operations in the same sector or geographical area and enterprises that use the same kind of security, trade in the same goods or have the same type of operations. With regards to credit risk, it is an objective to avoid major risk concentrations, including large exposure to individual customers or customer groups and groups of commitments in classes within high-risk industries or geographic areas. The company’s view is that Sparebanken Sør Boligkreditt AS is not exposed to any additional risk as a result of debtor concentration. This is a result of low credit exposure taken into account the quality of the pledged security. Compliance risk The company is interested in having good processes to ensure compliance with current regulations and industry standards. Compliance risk is the risk that the company incurs legal or regulatory sanctions, ﬁnancial losses, or loss of reputation as a result of non-compliance with laws, regulations or governing documents. Eﬀorts are continuously made to assess the best adaptation to new regulations and new regulations in order to ensure both compliance and eﬃciency in the organisation. New regulations are implemented in the group’s management documents and routines. Compliance risk is monitored by regular qualitative assessments. The compliance division in Sparebanken Sør Boligkreditt AS has been secured through agreements with Sparebanken Sør. Sparebanken Sør Boligkreditt AS’s compliance risk is considered to be low. HEDGING INSTRUMENTS The Company uses the following hedging instruments: • Interest rate swaps - agreements to exchange interest rates for a particular nominal amount over a speciﬁed number of periods • Basis swaps – agreements to exchange both interest rates and foreign currencies The purpose of using these instruments is to hedge interest rate and foreign exchange exposure.

18 NOK Thousand 31.12.2023 31.12.2022 EQUITY CAPITAL Share capital 2 075 000 2 075 000 Share premium reserve 500 000 500 000 Other equity capital 2 084 807 1 878 438 Deductions - 20 082 - 8 773 Dividend - 250 000 0 Net subordinated capital (common equity tier 1) 4 389 725 4 444 665 Minimum requirements for equity capital Credit risk 21 752 321 21 942 354 Market risk 0 0 Operational risk 868 489 882 133 CVA addition 0 Deductions 448 605 0 Risk weight balance (calculation basis) 23 069 415 22 824 487 Common equity tier 1 capital ratio 19.0 % 19.5 % Tier 1 capital ratio 19.0 % 19.5 % Total capital ratio 19.0 % 19.5 % Leverage Ratio 7.0 % 6.7 % MINIMUM CAPITAL REQUIREMENTS Minimum Tier 1 capital requirements 4.50 % 4.50 % Conservation buﬀer 2.50 % 2.50 % Systemic risk buﬀer 4.50 % 3.00 % Countercyclical buﬀer 2.50 % 2.00 % CET1 requirements. incl. Pilar 2 14.00 % 12.00 % Tier1 Capital requirements. incl. Pilar 2 15.50 % 13.50 % Total capital requirements. incl. Pilar 2 17.50 % 15.50 % CET1 requirements. incl. Pilar 2 3 229 718 2 738 938 Tier1 Capital requirements. incl. Pilar 2 3 575 759 3 081 306 Total capital requirements. incl. Pilar 2 4 037 148 3 537 795 Above CET1 requirements. incl. Pilar 2 1 160 007 1 705 726 Above Tier1 Capital requirements. incl. Pilar 2 813 966 1 363 359 Above total capital requirements. incl. Pilar 2 352 577 906 869 NOTE 4 – CAPITAL ADEQUACY The Sparebanken Sør Group has an objective of maximising long-term value creation. In addition the Group has an objective that the risk proﬁle should be moderate to low. This means that eﬀective risk and capital management is a key strategic element. Sparebanken Sør Boligkreditt AS is an instrument to underpin this objective. The Group has established a strategy and process for risk measurement, -management and -control that provide an overview of the risks the company is exposed to. The setup provides the basis for the assessment and calculation of the Group’s total capital needs, and how this can be maintained to cover the speciﬁc risks in an adequate manner. This is referred to as ICAAP (Internal Capital Adequacy Assessment Process). The assessment of capital needs includes the evaluation of size, composition and capital distribution according to each risk to which the Group is or will be exposed to. ICAAP includes stresstesting of relevant macroeconomic variables, which could inﬂict signiﬁcant losses on the company. Sparebanken Sør Boligkreditt AS uses the standard method for credit- and market risk and applies basic method for operational risk to calculate capital adequacy in accordance with the capital adequacy rules – CRR/CRD. Capital adequacy has to ensure that the company has the necessary buﬀer capital for events that arise in addition to ordinary loss provisions. In order to have greater ﬂexibility in terms of strategic choices and business opportunities, the Sparebanken Sør Group has higher equity and subordinated loan capital above the requirements given by ICAAP. The minimum requirement for common equity tier 1 ratio was 14.0 percent, tier 1 capital ratio 15.5 percent and total capital ratio 17.5 percent.

19 NOTE 6 – CREDIT AREA AND CREDIT RISK Credit risk represents the greatest area of risk for the company. The Board of the Group sets the credit strategy, which together with credit policies and guidelines for credit processes ensure that the customer portfolio has an acceptable risk proﬁle and contribute to maximise the long-term value creation of the Group. Loans broken down by risk classes The models used have been based on internal and external data for calculation of probability of default (PD) in the next 12 months and expected credit losses (ECL) at customers and portfolio level. Customers are scored each month, and are divided into 11 classes (A – K) based on the probability of default. Class K consists of defaulted loans and commitments with individual write-downs. The table below shows the intervals for the diﬀerent risk classes based on the probability of default. All customers must be classiﬁed in terms of risk before the loan is transferred from Sparebanken Sør to Sparebanken Sør Boligkreditt AS. Loans that are taken on by Sparebanken Sør Boligkreditt AS must have a probability of default (PD value) not exceeding 3.00 percent. The company’s risk categories are as follows: Risk classes Lower limit of default (PD-values) Upper limit of default (PD-values) A 0.00 % 0.10 % B 0.10 % 0.25 % C 0.25 % 0.50 % D 0.50 % 0.75 % E 0.75 % 1.25 % F 1.25 % 2.00 % G 2.00 % 3.00 % H 3.00 % 5.00 % I 5.00 % 8.00 % J 8.00 % 99.99 % K 100.00 % Probability of default Low risk (A-D) 0.00 - 0.75% Medium risk (E-G) 0.75 - 3.00 % High risk (H-J) 3.00 - 99.99 % Default (K) 100 % Speciﬁcation within risk categories at 31.12.2023 NOK Thousand Commitments In % Gross loans Potensial exposure Low risk 52 042 951 84.3 % 46 372 214 5 670 737 Medium risk 8 119 272 13.2 % 7 938 733 180 539 High risk 1 131 971 1.8 % 1 132 504 -533 Non performing and write-downs 166 906 0.3 % 166 712 194 Unclassiﬁed 256 637 0.4 % 221 347 35 290 Total 61 717 737 100.0 % 55 831 510 5 886 227 Speciﬁcation within risk categories at 31.12.2022 NOK Thousand Commitments In % Gross loans Potensial exposure Low risk 51 598 909 83.4 % 46 551 828 5 047 082 Medium risk 8 274 301 13.4 % 8 098 758 175 543 High risk 899 509 1.5 % 900 514 -1 005 Non performing and write-downs 176 382 0.3 % 172 132 4 250 Unclassiﬁed 905 251 1.5 % 866 746 38 506 Total 61 854 352 100.0 % 56 589 977 5 264 375 Commitments include gross loans and potential exposure. Potential exposure consists of undrawn credit facilities on ﬂexi-loans. NOTE 5 – SEGMENT REPORTING The company consists of one segment only, lending to consumers in Norway. Please refer to note 10 regarding geographical break down of loans. The company`s activity consists of residential mortgages up to 80 percent of the property`s market value (changed from 75 percent to 80 percent in Q4 2022). None of the company`s customers individually accounts for more than 10 percent of the turnover. This applies to both 2023 and 2022.

21 NOTE 7 - DESCRIPTION OF THE LOSS MODEL UNDER IFRS 9 Impairment model The model assessing the impairment of ﬁnancial assets under IFRS 9 applies to ﬁnancial assets measured at amortised cost. The new standard was implemented on 1 January 2018. See Note 1 for a discussion of accounting policies implemented to comply with this standard. The same calculation model is used for Sparebanken Sør Boligkreditt AS, the Parent Bank and the Group, but with diﬀerent dates being deﬁned for initial recognition. Provision must be made for expected losses, based on relevant information available at the time of reporting, including historical, current and future information. The loss is shown in the accounts before a loss event has occurred, and future expectations are included in the calculations. Loss allowances are calculated on the basis of probability of default (PD), loss given default (LGD) and exposure at default (EAD). The principal rule is that the loss provision is calculated on the basis of expected credit loss over the next 12 months or expected credit loss over the whole term. Expected credit loss over the whole term is calculated for assets where the credit risk has increased materially since initial recognition, with the exception of assets which are nevertheless assessed as having a low absolute credit risk on the reporting date. If there has not been a material increase in credit risk since initial recognition, a loss provision will be calculated for expected credit loss in the next 12 months. IFRS 9 also introduces requirements for loss provisions on new loans, by stating that impairment must be recognised for expected credit losses resulting from default in the next 12 months. Assessment of a signiﬁcant increase in credit risk The company uses the PD-level as the main criteria to assess a signiﬁcant increase in credit risk. A signiﬁcant increase in credit risk is assessed on the basis of both the relative increase in PD and the absolute change. It requires the relative change to be material and the level of risk itself to be not insigniﬁcant compared with the low- risk consideration. In addition, any large absolute change must be, under any circumstances, regarded as a signiﬁcant increase. The limits for signiﬁcant increase and PD checks are summarised in the table below. Parameter RM Absolute limit (a) 0.625 % Relative change (b) 2 % Absolute change (c) 5 % Absolute limit corresponds to risk class D. If the economic cycle or national/regional development trends indicate that there is a higher risk in individual sectors/industries, this is taken into account by changing the PD level of customers in the sectors/industries concerned. PD as basis for expected loss The PD model gives PD at customer level, 12 months ahead. At the end of 2023 there is no lifetime PD model integrated. When calculating the expected credit loss over the lifetime of the commitment, it is the probability of default over the same lifetime that should be used. A methodology has been developed to estimate PD over a commitment’s lifetime. This is based on breaking lifetime down into separate years and estimating PD for each year ahead of time. The PD models are validated every year. Validations show that the models overestimate. Since the loss model is expected oriented, calibrating PD is done to an excepted oriented estimate before used in the loss model. Population The model is intended to calculate the expected loss for all customers, at account level and on not already recognised losses. Loss is calculated based on the situation statement at the end of the month. The model also includes loan approvals, guarantees and unused credit limits. For loans where the credit risk has increased signiﬁcantly after initial recognition, an impairment loss must be recognised for expected credit losses over the term of the loans. All model calculations are made at the account level. Data that exists only at the customer level is linked to the individual account. For example, risk class is allocated at the customer level so that all the customer’s accounts have the same score. The most important variables in the extract are risk class and PD with associated interest, balance, approval and collateral at the time of calculation. Loans approved but not discounted at the time of measurement must also be included in the basis of calculation. Under IFRS 9, an expected loss must also be calculated on receivables from central banks and credit institutions. The company has made no loss provisions concerning these receivables for the ﬁnancial year 2023. This is because the bulk of its loans to credit institutions relates to Norwegian banks. These are allocated to risk class B and have a PD of 0.175 percent. LGD are regarded as being low as they have a high rating from external agencies. The company considers the requirements for low credit risk to have been met as at the balance sheet date.

22 After the dataset has been deﬁned, the various account commitments are noted and allocated to the diﬀerent stages. Allocation to one of the three “stages” in the model is based on their change of risk since approval (change of credit risk). For a description of the individual “stages”, see the subsequent explanations. All commitments are placed in stage 1 upon initial recognition and are subsequently moved to stage 2 or 3 if there has been a signiﬁcant increase in credit risk. Commitments for which qualitatively assessed loss allowances have been recognised are excluded from the model-based calculation of impairment losses. Qualitatively assessed loss allowances are added to those in stage 3. Non-performing account commitments are deﬁned in the model as all account commitments where the customer has risk-class K. Default is deﬁned at the customer level. For an overview of the Bank’s risk classes, refer to Note 6 – Credit and credit risk. From 01.01.2021 non-performing has been assessed according to a new deﬁnition. A customer’s engagement is deﬁned as in default if a claim is overdue by more than 90 days and the amount exceeds 1 percent of exposure on the balance sheet and NOK 1,000 for the mass market (payment default). A customer’s commitment is deﬁned as in default if it is likely that the borrower will not fulﬁl its obligations due to objective requirements. See note 1 for a description of when qualitative assessments are made. When a customer has one or several defaulted loans, it is the customer’s total commitment that is reported as default and not the individual loan. See also Note 11. Stage 1 In most cases, this is the starting point for all ﬁnancial assets that come under the general impairment model. Financial instruments that have the same credit risk as at initial recognition and which have not been classiﬁed under stages 2 and 3, come under this stage. The estimated expected losses recognised in the balance sheet are equivalent to the expected losses over the next 12 months. Stage 2 The ﬁnancial assets that have had a signiﬁcant increase in credit risk since initial recognition is placed in stage 2. Whether an account commitment has been signiﬁcantly deteriorated or not, is deﬁned as a function of the probability of default (PD) at the measurement date and the probability of default on the date of initial recognition (loan approval). Expected losses on assets in stage 2 are calculated over the remaining term of the asset. The model has the following additional indicators and overriding rules for customer commitments (loans to customers): • For commitments that qualify for a one-year loss calculation (stage 1), it will be checked whether there is a 30-day default/ account overdrawn. If this exists, the loan commitment will be transferred to lifetime ECL (stage 2). This applies to overdraws from the ﬁrst krone, but older than 30 days. • For commitments that qualify for a one-year loss calculation (stage 1), it will be checked whether there is a larger overdraw. If this exists, the loan commitment will be transferred to lifetime ECL (stage 2). This applies to overdraws exceeding the credit limit, starting from the ﬁrst day. • Commitments with changed payment obligations or reﬁnancing resulting from payment issues (forbearance) are automatically moved to stage 2 (if initially under stage 1). • In addition, commitments are checked against an internal watch-list that will capture speciﬁc commitment forward- looking risk.

23 Stage 3 Stage 3 includes assets that have had a signiﬁcant change in credit risk since initial recognition and where there is objective evidence of loss at the time of reporting. In this stage, the model calculates an expected loss over the remaining term of the asset. If qualitative loss allowances have been made, these override the model-based calculation. Qualitative assessments are made when observable data related to signiﬁcant ﬁnancial issues are present. If the bank, based on economic and contractually matters related to the customers ﬁnancial issues, has provided any forbearances, it is likely that the customer will go bankrupt or be exposed to a ﬁnancial reorganization. If observable data related to impairment are present, a future reduction in cash ﬂow will be evaluated. The same model is used in Sparebanken Sør Boligkreditt AS, the Parent bank and the Group, but with diﬀerent dates being deﬁned for initial recognition. At the Group level, the account’s approval date is used, while the transfer date is used in Sparebanken Sør Boligkreditt AS. As a general rule, the approval date will be used for the Parent Bank, unless the account has been registered in the mortgage company. If so, the date of transfer to the Parent Bank is used. Estimated losses will be calculated based on 12 months probability of default (PD), loss given default (LGD) and exposure at default (EAD). The data basis contains historical data about the observed PD and LGD. This will form the basis for producing estimates of future PD and LGD values. The patent bank’s PD model gives PD at an individual customer level, one year ahead. The Parent Bank does not have a lifetime PD model. When calculating the expected credit loss over the lifetime of the commitment, it is the probability of default over the same lifetime that should be used. Migration to a lower stage A commitment that has migrated to stage 2 can migrate back to stage 1 if it no longer fulﬁls the criteria for migration stated above. Migration to a lower stage is not subject to any explicit quarantine period, except for the loans market with forbearance. Commitments that have gone into default will migrate to stage 1 or 2 when they are no longer in default. Forbearance and probation Commitments provided with forbearance may be performing or initially non-performing. If a customer receives payment relief, this means that the customer’s commitment receives a forbearance mark. The commitments are listed as forbearance in the data warehouse. Factors causing forbearance will be changes in repayments, e.g., instalments postponements and reﬁnancing as a result of payment issues. When a commitment is listed forbearance, a transfer to stage 2 automatically will take place from stage 1. If the commitment is in stage 2 or 3 initially, no transfers will take place. In case of forbearance, PD may be adjusted. If a commitment is listed forbearance there is a probation period, before regarded as performing and transferring back to stage 1. Macroeconomic conditions and scenarios The group adopted a macro model that calculates estimated changes in PD. The PD values from the macro model are used further into the IFRS9 model. The model contains data for macroeconomic conditions, and relevant parameters must be adjusted to take account of any changes in economic climate or macro conditions before the model can be run. Primary, the parameters are set based on empiricism related to monetary policy and ﬁnancial stability obtained from Norges Bank. The following macro parameters are used in the model: 1. Level of Key policy rate 2. Growth in unemployment 3. Growth in house price 4. National growth in GDP 5. Exchange rate related to import 6. Oil price (USD) 2023 2024 2025 2026 2027 Housing price % -0.2 1.0 5.1 6.5 6.5 Housing price region % 7.0 3.7 5.1 6.5 6.5 Unemployment % 3.6 3.9 4.1 4.1 4.1 Oilprice, $ 81.9 75.9 73.6 71.5 71.5 Key policy rate, $ 3.5 4.5 3.9 3.2 3.2 Import-weighted exchange rate 119.7 121.5 120.5 120.5 120.5 USD 10.4 10.6 10.5 10.5 10.5 GDP % 5.5 4.4 2.8 2.5 2.5 Macroeconomic variables as a basis of scenarios:

24 Sparebanken Sør Boligkreditt has secured loans in real estate and setting parameters for house prices (including real estate) is considered to be a parameter that has major eﬀects on LGD (Loss Given Default). In addition, there is a great deal of uncertainty associated with future unemployment and the determination of this parameter is also of signiﬁcant importance for the group’s model-calculated loss impairments. Three scenarios are deﬁned in the model, realistic (base) scenario, optimistic scenario, and pessimistic scenario. All the scenarios are applicable with eﬀect from the date of calculation. This means that the ﬁrst scenario period is in progress at the time calculation. This is done so that the scenarios will have an impact on the whole calculation, including stages 1 and 3. The background to the assessments is an overall assessment of all the central elements aﬀecting the development of the Norwegian and regional economy, and whether these factors suggest that changes should be made to the PD and/or LGD level in individual sectors, products and market segments or the whole portfolio. The realistic (base) scenario is a macroeconomic scenario that represents expected future economic growth over the next 5 years. The realistic scenario is comparable to the ICAAP scenario Base Case. The scenario is based on stable and moderate global economic growth being expected, as well as stable growth in the Norwegian economy over the next 5 years. It is further expected that regional economic growth over the next 5 years will be on par with the rest of the country. The optimistic scenario is a macroeconomic scenario that represents an economic upturn with strong economic growth. Positive development and strong economic growth over the next 5 years are expected in this scenario. Oil prices will rise, and the Norwegian economy will experience strong economic growth. Regional economic growth is expected to be on par with the rest of the country. The pessimistic scenario represents a downturn, with weak economic growth. The pessimistic scenario may represent an economic downturn based on a 25-year cycle, but one that will be considerably milder than the credit crisis in the early 1990s. In this scenario, it is expected that growth in emerging markets will decline. Increased protectionism will create trade barriers, and global economic growth will stall. Oil prices fall and take together with weak economic growth among our most important trading partners, this will lead to weak development and growth in the Norwegian economy. Regional economic growth is expected to be on a par with the rest of the country. The company has further assessed the scenarios described above and weighted them to determine ECL. Weighting was performed based on an expectation that a realistic scenario will occur in 3 out of 5 years (60 percent probability), while the other two scenarios will occur in 1 out of 5 years (20 percent probability each). Parameter RM Weighted optimistic scenario 20.00% Weighted realistic scenario 60.00% Weighted pessimistic scenario 20.00% Sensitivities Loans to customers in the company are secured by real estate. This is considered to be one of the parameters that aﬀect LGD mostly. Another important parameter that signiﬁcantly aﬀects the loss expense relates to the probability of default (PD). A sensitivity analysis relating to changes in the portfolio’s collateral was therefore performed as at 31 December 2023. The analysis has been carried out over the coming year by assuming a fall in collateral of 10, 20 and 30 percent respectively. Analysis has also been performed with a 1 percent increase in unemployment. The changes have the following impact on the Group’s loss expense: 31.12.2023 NOK Thousand Collateral reduction of 10% Collateral reduction of 20% Collateral reduction of 30% Double increase of PD 1 % increase in unempoyment Provisions on loans 13 249 30 543 51 766 5 439 1 392 31.12.2022 NOK Thousand Collateral reduction of 10% Collateral reduction of 20% Collateral reduction of 30% Double increase of PD 1 % increase in unempoyment Provisions on loans 13 234 29 549 48 947 7 351 6 634 Validation The purpose of validating the IFRS 9-system is to conﬁrm that, both the model and the process, are working as intended and provide the best estimates. The system shall provide the best estimate for expected credit loss (ECL), based on access to information and knowledge at the reporting date. Calculations and assumptions are subjected to annual validation. The validation provides a report investigated by the Validation Committee. Based on the results there will be an assessment related to the satisfaction of the model and process – and any needs for adjustments. Changes in the loss model in 2023 Only PD scenarios have been modiﬁed according to macro size forecasts. No other signiﬁcant changes have been made as of 2023.

25 NOTE 8 – LOSSES AND IMPAIRMENTS ON LOANS, GUARANTEES AND AND UNDRAWN CREDIT FACILITIES Provisions on loan losses and total losses for the period, are calculated according to the IFRS 9 standard based on expected credit loss by using a 3 stage model described in note 7 in the annual report. The various elements contained in losses and loss allowances, guarantees and undrawn credit facilities are discussed under note 1 Accounting Policies. Reference is also made to note 3 regarding Risk Management and to Note 6 regarding credit and credit risk. NOK Thousand 31.12.2023 31.12.2022 Changes in impairment losses for the period, stage 1 - 3 489 6 867 + Changes in impairment losses for the period, stage 2 - 119 6 556 + Changes in impairments losses for the period, stage 3 - 1 007 2 222 = Total losses for the period - 4 615 15 645 2022 2023 Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Excpected losses in the next 12 months Lifetime excpected credit losses Lifetime excpected credit losses Total NOK Thousand Excpected losses in the next 12 months Lifetime excpected credit losses Lifetime excpected credit losses Total 5 114 5 502 2 416 13 032 Loss provisions as at 01.01 11 981 12 058 4 500 28 539 Transfers 1 748 -1 516 -232 0 Transferred to stage 1 3 508 -2 896 -612 0 -267 578 -311 0 Transferred to stage 2 -726 1 493 -767 0 -23 -225 248 0 Transferred to stage 3 -33 -370 403 0 0 6 592 4 253 501 11 345 Losses on new loans 3 245 2 585 221 6 051 -1 512 -1 567 -388 -3 467 Losses on derecognised loans -3 280 -4 125 -870 -8 275 330 5 033 2 266 7 629 Losses on older loans and other changes -6 203 3 193 619 -2 391 11 981 12 058 4 500 28 539 Loss provisions as at 31.12 8 492 11 939 3 493 23 924 11 648 11 961 4 489 28 098 Loss provision for loans 8 189 11 865 3 490 23 543 333 97 11 441 Loss provisions for undrawn credit 303 74 4 380 11 981 12 058 4 500 28 539 Total loss provision as at 31.12 8 492 11 939 3 493 23 924

26 NOTE 9 – DISTRIBUTION OF LOANS BETWEEN STAGES NOK Thousand 2023 Gross loan assessed at amortised cost Stage 1 Stage 2 Stage 3 Total Gross loans as at 01.01.2023 assessed at amortised cost 53 491 301 2 924 288 174 388 56 589 977 Transferred to stage 1 884 983 - 844 914 - 40 069 0 Transferred to stage 2 -2 083 592 2 110 513 - 26 921 0 Transferred to stage 3 - 55 492 - 44 880 100 372 0 Net change on present loans -2 386 969 - 104 396 - 5 688 -2 497 052 New loans 14 574 786 546 787 11 484 15 133 057 Derecognised loans -12 438 209 - 909 409 - 46 854 -13 394 471 Gross loans as at 31.12.2023 assessed at amortised cost 51 986 809 3 677 988 166 712 55 831 510 NOK Thousand 2022 Gross loan assessed at amortised cost Stage 1 Stage 2 Stage 3 Total Gross loans as at 01.01.2022 assessed at amortised cost 47 402 143 2 186 818 91 388 49 680 350 Transferred to stage 1 688 896 - 668 669 - 20 227 0 Transferred to stage 2 -1 481 199 1 498 045 - 16 846 0 Transferred to stage 3 - 77 675 - 51 687 129 362 0 Net change on present loans loans -2 137 485 - 104 501 - 6 705 -2 248 690 New loans 20 759 812 699 956 19 774 21 479 542 Derecognised loans -11 663 192 - 635 673 - 22 359 -12 321 224 Gross loans as at 31.12.2022 assessed at amortised cost 53 491 301 2 924 288 174 388 56 589 977 NOK Thousand 2023 Undrawn credits (oﬀ balance) Stage 1 Stage 2 Stage 3 Total Undrawn credits as at 01.1.2023 5 298 163 50 541 800 5 349 504 Transferred to stage 1 13 949 -13 149 -800 0 Transferred to stage 2 -48 007 48 007 0 0 Transferred to stage 3 -143 -98 242 0 Net change on undrawn credits 145 444 -20 945 -48 124 451 New undrawn credits 498 185 3 445 0 549 168 Derecognised undrawn credits -86 115 -3 242 0 -89 358 Undrawn credits as at 31.12.2023 5 821 475 64 558 194 5 886 227 NOK Thousand 2022 Undrawn credits (oﬀ balance) Stage 1 Stage 2 Stage 3 Total Undrawn credits as at 01.1.2022 4 577 379 62 631 251 4 640 260 Transferred to stage 1 25 198 -25 198 0 0 Transferred to stage 2 -31 931 31 931 0 0 Transferred to stage 3 -4 285 0 4 285 0 Net change on undrawn credits 130 670 -13 008 -3 736 113 927 New undrawn credits 676 722 5 254 0 681 976 Derecognised undrawn credits -75 590 -11 069 0 -86 659 Undrawn credits as at 31.12.2022 5 298 163 50 541 800 5 349 504 Changes in gross loans in the balance sheet.

27 NOTE 11 - NON-PERFORMING LOANS The Group assesses a ﬁnancial asset as non-performing if the contractual payments have been overdue for more than 90 days, and the amount exceeds NOK 1,000 and 1 percent of the customer’s obligations (payment default). A customer’s commitment is deﬁned as default if it is probable that the borrower will not fulﬁll its obligations due to objective requirements: • The contractual payments have been overdue for more than 90 days, and the amount exceeds NOK 1 000 and 1 percent of the customer’s obligations • Loss write-downs have been registered on the customer’s obligation • Incurred losses have been recognised for the customer • Bankruptcy petition has been ﬁled or the customer has been declared bankrupt • The customer has applied for or is in a debt settlement • A company has been requested to be dissolved, or a forced dissolution has been decided • Sale of credits due to deteriorating credit quality • Qualitative assessments and default notices have been made. Qualitative assessments are made when observable data is available relating to the exposure, for example signiﬁcant ﬁnancial diﬃculties at the issuer or borrower. When the borrower’s lender, due to ﬁnancial or contractual grounds relating to the borrowers’ ﬁnancial diﬃculties, has granted the borrower concessions that the lender would not otherwise have considered and when it becomes probable that the borrower will enter bankruptcy or undergo another form of ﬁnancial re-organisation. NOK Thousand 31.12.2023 Loans broken down by geographical areas Agder 36 167 424 64.8 % Vestfold og Telemark 6 940 570 12.4 % Oslo 5 319 276 9.5 % Viken 3 844 537 6.9 % Rogaland 2 120 215 3.8 % Other counties 1 415 944 2.5 % Total 55 807 966 100.0 % NOK Thousand 31.12.2022 Loans broken down by geographical areas Agder 36 629 215 64.8 % Vestfold og Telemark 7 074 798 12.5 % Oslo 5 313 447 9.4 % Viken 3 809 776 6.7 % Rogaland 2 151 928 3.8 % Other counties 1 582 715 2.8 % Total 56 561 879 100.0 % NOK Thousand 31.12.2023 31.12.2022 Loans distributed to sectors and industries Retail customers 55 706 526 56 503 164 Accured interests 124 984 86 813 Gross loans 55 831 510 56 589 977 Loss allowance - 23 543 - 28 098 Net loans 55 807 966 56 561 879 NOK Thousand 31.12.2023 31.12.2022 Loans assessed at amortised cost Flexi-loans 17 734 598 15 499 817 Loans with installments - ﬂoating interest 37 970 846 41 002 210 Loans with installments - ﬁxed interest 0 0 Gross loans 55 831 510 56 589 977 Loss allowance - 23 543 - 28 098 Net loans 55 807 966 56 561 879 Undrawn credit on Flexi-loans 5 886 227 5 349 504 NOTE 10 - LOANS

28 NOK Thousand 31.12.2023 31.12.2022 Total non-performing loans (step 3) 166 906 173 159 Stage 3 impairement losses 3 493 4 500 Net non-performing loans 163 413 168 659 Provisions ratio non-performing loans 2.09 % 2.60 % Total non-performing loans in % af gross loans 0.30 % 0.31 % Gross loans 55 831 510 56 589 977 Commitments provided with forbearance, may be performing or initially non-performing. The commitments are listed as forbearance in the data warehouse. Factors causing forbearance will be changes in repayments, e.g. installments postponements and reﬁnancing as result of payment issues. When a commitment is listed forbearance, a transfer to stage 2 automatically will take place. If the commitment is in stage or stage 3 initially, no transfers will take place in case of forbearance. If a commitment is listed forbearance and later on regarded as performing, there is a quarantine before transferring back to stage 1. NOK Thousand 31.12.2023 31.12.2022 Step 2 438 189 179 023 Step 3 40 647 41 586 Total exposures with forbearance measures 478 836 220 609 FORBEARANCE NOTE 12 - INTEREST RATE AND EXCHANGE RATE RISK Exchange rate risk According to the company`s internal rules, the total accounting eﬀect by a 25 percent exchange rate movement should not exceed NOK 10 million. The currency exposure was NOK 0 million as at 31.12.2023 (NOK 0 million as at 31.12.2022). Interest rate risk Interest rate risk occurs in connection with the company’s ordinary lending activities, and in relation to activity in the Norwegian and international money and capital markets. Interest rate risk is a result of the ﬁxed-interest period for the company’s assets and liabilities, as well as for oﬀ-balance sheet items, not coinciding. Interest rate risk must be assessed on the basis of a stress test scenario where there is a 2-percentage point parallel shift in the yield curve. An assessment must also be made on how stress test scenarios (six scenarios) with various distortions in the yield curve aﬀect the company’s positions. The scenario with the greatest loss potential is taken as a basis for measuring interest rate risk. The interest rate risk framework also includes interest rate risk in foreign currency. Calculation of interest rate risk follows guidelines from The Financial Supervisory Authority of Norway. The company’s Board of Directors has adopted limits for interest rate risk, and receives quarterly reports thereon. Interest rate sensitivity The tables below show the ﬁnancial consequences in the value of the total balance sheet in the company of a given change in interest rate. From 2020, the company has measured and managed interest rate risk based on six diﬀerent shock scenarios across 19 time bands, cf. EBA Guideline 2018/02 and the Financial Supervisory Authority’s guidelines. The six interest rate shock scenarios are as follows: 1) parallel shock up 2) parallel shock down 3) steepener shock – short rates down, long rates up 4) ﬂattener shock – short rates up, long rates down 5) short rates shock up 6) short rates shock down NOK Thousand 31.12.2023 31.12.2022 Parallel shock up 2 % -42 006 11 213 Parallel shock down 2 % 42 006 - 11 213 Steepener shock 36 235 - 44 166 Flattener shock -36 235 44 166 Short rates shock up 3 % -36 235 44 166 Short rates shock down 3 % 36 235 - 44 166

29 31.12.2023 Over NOK Thousand Total 1 mth. 3 mth. 1 year 5 years 5 years Liabilities / non derivative obligations Debt to credit institutions 5 411 372 5 411 372 0 0 0 0 Debt incurred due to issuance of securities 54 343 923 20 564 328 958 5 299 314 48 695 086 0 Other liabilities 271 860 66 449 87 138 118 274 0 0 Loans commitments and undrawn facilities 5 886 227 5 886 227 0 0 0 0 Total liabilities 65 913 382 11 384 612 416 096 5 417 587 48 695 086 0 Derivative commitments Financial derivative gross payments Payments made -25 846 750 0 0 0 -25 846 750 0 Payments received 28 720 000 0 0 0 28 720 000 0 Total derivative commitments 2 873 250 0 0 0 2 873 250 0 NOTE 13 - LIQUIDITY RISK Liquidity risk is deﬁned as the risk of the company failing to fulﬁll its obligations as they fall due. The company’s liquidity risk was generally low in 2023, as illustrated by the fact that most of the company’s loans were ﬁnanced on a long-term basis through covered bonds. Long-term ﬁnancing is deﬁned as funding with maturities exceeding one year, as well as unutilised committed drawing rights. The company has to have suﬃcient liquid funds in order to fulﬁll its obligations at all times. In 2023, the company’s funding structure complied with requirements imposed by law and instructions by the Board of Directors. As of 31 December 2023, Sparebanken Sør Boligkreditt AS has an overdraft facility amounting to NOK 5 000 million for operational purposes, and a short-term credit facility with a notice period of 31 days with Sparebanken Sør. The company issues covered bonds with the opportunity to extend the maturities by up to 12 months, given an approval by the FSA. 31.12.2022 Over NOK Thousand Total 1 mth. 3 mth. 1 year 5 years 5 years Liabilities / non derivative obligations Debt to credit institutions 4 027 018 4 027 018 0 0 0 0 Debt incurred due to issuance of securities 60 495 356 20 527 5 906 327 854 199 42 487 466 11 226 836 Other liabilities 54 306 13 123 25 774 15 409 0 0 Loans commitments and undrawn facilities 5 349 504 5 349 504 0 0 0 0 Total liabilities 69 926 184 9 410 172 5 932 101 869 608 42 487 466 11 226 836 Derivative commitments Financial derivative gross payments Payments made -31 066 750 0 -5 220 000 0 -15 091 750 -10 755 000 Payments received 32 487 400 0 5 622 900 0 15 818 700 11 045 800 Total derivative commitments 1 420 650 0 402 900 0 726 950 290 800 LIQUIDITY RISK The table shows cash ﬂows including contractual interest payments. The ﬁgures therefore cannot be reconciled with the balance sheet.

30 NOTE 14 - INTEREST INCOME AND INTEREST EXPENSES NOK Thousand 31.12.2023 31.12.2022 Interest income recognised at amortised cost Interest on loans to customers 2 640 354 1 496 712 Interest on loans to and receivables from credit institutions 2 866 2 059 Total interest income recognised at amortised cost 2 643 220 1 498 771 Interest income eﬀective interest method 2 643 220 1 498 771 Interest income recognised at fair value Interest on certiﬁcates/bonds/interest-bearing securities 169 446 111 230 Total interest income recognised at fair value 169 446 111 230 Other interest income 169 446 111 230 Total interest income 2 812 666 1 610 001 Interest expenses recognised at amortised cost Interest on debt to credit institutions 130 337 85 862 Interest on issued securities 2 200 775 1 068 408 Other interest expenses 10 643 9 304 Total interest expenses recognised at amortised cost 2 341 755 1 163 574 Total interest expenses 2 341 755 1 163 574 Net interest income 470 911 446 427 Debt securities issued as at 31.12.2023 ISIN Number Ticker Currency Nominal value Interest Due date Book value Fair value NO0010882632 SORB30 NOK 4 300 000 Floating 3M Nibor 19.11.2024 4 327 468 4 337 238 NO0010832637 SORB28 NOK 5 750 000 Floating 3M Nibor 24.09.2025 5 758 738 5 775 009 XS2555209381 EUR 500 000 Fixed 0.31 % 14.11.2025 5 689 461 5 696 144 XS1947550403 EUR 500 000 Fixed 0.50 % 06.02.2026 5 391 179 5 410 997 XS2069304033 EUR 500 000 Fixed 0.01 % 26.10.2026 5 238 021 5 241 499 NO0012535824 SORB32 NOK 5 500 000 Floating 3M Nibor 31.05.2027 5 520 183 5 550 158 NO0011002529 SORB31 NOK 7 000 000 Floating 3M Nibor 20.09.2027 7 134 297 7 093 882 NO0010670409 SORB08 NOK 500 000 Fixed 4.00 % 24.01.2028 517 830 518 225 XS2291901994 EUR 500 000 Fixed 0.01 % 28.01.2028 5 120 500 5 075 296 XS2389362687 EUR 500 000 Fixed 0.01 % 25.09.2028 5 034 506 4 981 638 TOTAL 49 732 184 49 680 085 AVERAGE INTEREST EXPENSES Average interes rates Average volume in NOK million NOK Thousand 31.12.2023 31.12.2022 31.12.2023 31.12.2022 Assets Loans to credit institutions 0.29 % 0.92 % 983 207 224 885 Loans to customers 4.89 % 2.84 % 53 949 630 52 634 528 Bonds and certiﬁcates 4.50 % 2.37 % 3 768 378 4 689 567 Liabilities Liabilities to credit institutions 3.33 % 2.47 % 3 916 990 3 482 878 Liabilities related to issue of securities 4.37 % 2.22 % 50 348 725 48 153 888

31 NOTE 15 - INCOME FROM FINANCIAL INSTRUMENTS NOK Thousand 31.12.2023 31.12.2022 Proﬁt (loss) and changes in value from certiﬁcates and bonds - 4 319 - 24 424 Net income from certiﬁcates and bonds - 4 319 - 24 424 Change in value ﬁxed rate loans - interest 0 55 Change in value ﬁxed rate loans - margin 0 - 76 Expected credit loss IFRS9 0 0 Net change in value ﬁxed rate loans 0 - 21 Change in value ﬁxed rate bonds - hedge accounting -2 417 635 1 542 750 Change in value derivatives ﬁxed rate bonds - designated as hedging instruments 2 431 624 -1 551 142 Net income hedging 13 989 - 8 391 Whereof eﬀects from basis swaps (1) 0 5 021 Proﬁt (loss) buyback own bonds - amortised cost - 1 987 0 Currency gains (losses) 0 0 Net other ﬁnancial instruments and derivatives - 1 987 0 Net income from ﬁnancial instruments 7 683 - 32 837 1) The company has issued covered bonds in Euro that have been hedged using basis swaps. Change in the value of the basis swaps as a result of changes in market conditions, is presented as hedging-ineﬃciency. This ineﬀective portion is recognised in other comprehensive income. Basis swaps and derivative contracts are used to convert obligations in foreign currency into NOK. Basis swaps are used when the company has entered into long term funding in international capital markets. These are hedging instruments, and assuming the underlying bond is held to maturity, the change in market value over the instruments duration equals zero. Accounting eﬀects are therefore reversed over time. NOTE 16 - OTHER OPERATING EXPENSES NOK Thousand 2023 2022 External fees 2 776 913 Management of loans / services purchased 100 367 98 590 Other operating expenses* 3 175 3 892 Total other operating expenses 106 319 103 394 *Remuneration to auditors is included in other operating expenses. NOK Thousand 2023 2022 Ordinary audit fees, statutory audit 116 253 Other attestation services 163 270 Fees on other services 0 0 Total remuneration of elected auditor (Incl. VAT) 279 505

32 NOTE 18 - FINANCIAL INSTRUMENTS BY CATEGORY Amortised cost Debt instruments, which sole purpose is to hold the instrument in order to collect contractual cash ﬂows will be recognised at amortised cost. All borrowing and lending instruments with ﬂoating interest rates, are classiﬁed at amortised cost. Fair value through proﬁt and loss All derivatives will be measured at fair value, with the changes in value through proﬁt and loss. Sparebanken Sør Boligkreditt AS has chosen to keep holdings of interest-bearing securities at fair value through proﬁt and loss. These are assets that are managed, measured and reported to the management at fair value. Hedge accounting Sparebanken Sør Boligkreditt AS employs hedge accounting in relation to the company’s funding at ﬁxed interest rate terms and in foreign currencies. Hedging instruments are used to counteract the interest risk and foreign exchange risk of the bonds. NOTE 17 - TAX NOK Thousand 31.12.2023 31.12.2022 Tax-increasing temporary diﬀerences Fixed assets - 58 - 73 Financial derivatives 0 -1 267 025 Change in value from basis swaps recognised over OCI 0 0 Bond assets - 7 920 - 7 920 Bond debt - adjustment of hedge accounting -1 074 176 0 Total tax-increasing temporary diﬀerences -1 082 154 -1 275 018 Tax-reducing temporary diﬀerences Loans 115 115 Financial derivatives 1 045 684 0 Change in value from basis swaps recognised over OCI 200 569 81 655 Bond assets 0 0 Bond debt - adjustment of hedge accounting 0 1 341 841 Total tax-reducing temporary diﬀerences 1 246 368 1 423 610 Basis for deferred tax (+) / deferred tax assets (-) 164 214 148 592 Calculated deferred tax (+) / deferred tax assets (-) (22%) 36 127 32 690 Deferred tax / deferred tax assets as at 01.01. 32 171 - 12 991 Change in deferred tax in the proﬁt - 22 724 23 391 Change in deferred tax in the total proﬁt - 26 161 21 771 Deferred tax / deferred tax assets as at 31.12. - 16 714 32 171 Proﬁt before tax expenses 374 401 289 516 Permanent diﬀerences 757 14 Change in temporary diﬀerences 103 292 - 101 596 Taxable income 478 450 187 934 Tax payable (22%) 105 259 41 345 Tax not settled previous years 0 0 Prepaid tax 0 0 Other changes 0 - 29 Tax payable in the balance sheet 105 259 41 317 Tax payable 105 259 41 345 Changes in deferred tax - 22 724 23 391 Tax returns from previous years* - 7 256 - 33 795 Tax cost for the year 75 279 30 942 Eﬀective tax rate* 20.1 % 10.7 % Deferred tax assets are recognised and justiﬁed based on expected future earnings. * In 2022, NOK 33.8 million was recognized as income as a result of a changed tax rate in Sparebanken Sør Boligkreditt AS, for the period 2019-2021. In 2023 an additional amount of NOK 7.3 million was recognized for the years 2017-2018 respectively.

33 31.12.2023 NOK Thousand Fair value Hedge accounting Amortized cost Total Loans to credit institutions 973 207 973 207 Net loans to customers 55 807 966 55 807 966 Bonds and certiﬁcates 2 158 343 2 158 343 Financial derivatives 1 071 168 1 071 168 Total ﬁnancial assets 2 158 343 1 071 168 56 781 173 60 010 684 Debt to credit institutions 5 404 574 5 404 574 Debt incurred due to issuance of securities 26 991 498 22 740 686 49 732 184 Financial derivatives 138 210 138 210 Total ﬁnancial liabilities 0 27 129 708 28 145 260 55 274 968 * Debt included in hedge accounting is presented as ﬁnancial assets and liabilities at amortised cost. NOTE 19 - FAIR VALUES OF FINANCIAL INSTRUMENTS METHODS TO DETERMINE FAIR VALUE General For ﬁnancial instruments, for which the booked value is a reasonable approximation of fair value, valuation methods to calculate fair value are not used. This relates mainly to assets and liabilities that mature within three months or when interest is due or ﬁxed within three months. Interest rate swaps Valuation of interest rate swaps at fair value is done through the use of valuation techniques, in which the expected future cash ﬂows are discounted to the present value. The calculation of expected cash ﬂows and the discounting of these are carried out by the use of observable market rates for diﬀerent currencies and observable exchange rates. The estimated present value is reconciled against the corresponding estimates from the counterparties in the contracts. Certiﬁcates and bonds The valuation of certiﬁcates and bonds is through the use of valuation techniques based on future cash ﬂows and credit risk, assessed on the balance sheet date. The valuation is based on interest rates, which can be observed in the market. Loans For loans with a ﬂoating interest rate, fair value is considered to be equal to the nominal value Debt For debt the valuation is made through the use of valuation techniques and the discounting of expected future cash ﬂows. The interest rate on loans between credit-worthy banks is regarded as the risk free interest rate. The mark-up is made on the basis of the assessments made by market players of the Company’s creditworthiness. Deposits For ﬂoating rate deposits, the fair value is considered to be equal to the nominal value. 31.12.2022 NOK Thousand Fair value Hedge accounting Amortized cost * Total Loans to credit institutions 76 670 76 670 Net loans to customers 56 561 879 56 561 879 Bonds and certiﬁcates 6 458 757 6 458 757 Financial derivatives 493 132 493 132 Total ﬁnancial assets 6 458 757 493 132 56 638 549 63 590 438 Debt to credit institutions 4 013 408 4 013 408 Debt incurred due to issuance of securities * 29 816 330 23 460 863 53 277 192 Financial derivatives 1 821 055 1 821 055 Total ﬁnancial liabilities 0 31 637 384 27 474 271 59 111 655

34 Classiﬁcation of ﬁnancial instruments Financial instruments are classiﬁed in diﬀerent levels. Level 1: Includes ﬁnancial assets and liabilities valued using the unadjusted observable market values. This includes listed shares, derivatives traded on the market place and other securities with quoted market values. Level 2: Instruments valued by valuation techniques and assumptions on directly or indirectly observable market data. Values can be obtained from external market players or reconciled with the external markets players that oﬀer these types of services. Level 3: Instruments valued by valuation techniques and of wich at least one essential valuation factor can not be supported by observable market values. This category includes investments in unlisted companies and ﬁxed rate loans, for which no market information exists. 31.12.2023 Recognised Fair value NOK Thousand value Level 1 Level 2 Level 3 Assets recognised at amortised cost Loans to and receivables from credit institutions 973 207 973 207 Net loans to customers (ﬂoating interest rate) 55 807 966 55 807 966 Assets recognised at fair value Bonds and certiﬁcates 2 158 343 2 158 343 Financial derivatives 1 071 168 1 071 168 Total ﬁnancial assets 60 010 684 0 4 202 718 55 807 966 Liabilities recognised at amortised cost Debt to credit institutions 5 404 574 5 404 574 Debt incurred due to issuance of securities 49 732 184 49 680 085 Liabilities recognised at fair value Financial derivatives 138 210 138 210 Total ﬁnancial liabilities 55 274 968 0 55 222 868 0 31.12.2022 Recognised Fair value NOK Thousand value Level 1 Level 2 Level 3 Assets recognised at amortised cost Loans to and receivables from credit institutions 76 670 76 670 Net loans to customers (ﬂoating interest rate) 56 561 879 56 561 879 Assets recognised at fair value Bonds and certiﬁcates 6 458 757 6 458 757 Financial derivatives 493 132 493 132 Total ﬁnancial assets 63 590 438 0 7 028 559 56 561 879 Liabilities recognised at amortised cost Debt to credit institutions 4 013 408 4 013 408 Debt incurred due to issuance of securities 53 277 192 53 094 865 Liabilities recognised at fair value Financial derivatives 1 821 055 1 821 055 Total ﬁnancial liabilities 59 111 655 0 58 929 327 0

35 Hedge accounting Sparebanken Sør Boligkreditt AS has implemented hedge accounting for debt issued at ﬁxed interest rate and for bonds issued in foreign currency. The bonds included in hedge accounting are initially recognised at cost. Subsequent measurements are at amortised cost, with the change in fair value related to the hedged risk. Derivative instruments are used as a hedge of interest rate and foreign exchange risk. Sparebanken Sør Boligkreditt AS uses fair value hedge accounting. Result of hedge accounting NOK Thousand 2023 2022 Result / ineﬀectiveness in hedge accounting Net income from other ﬁnancial instruments 13 989 - 8 391 Total 13 989 - 8 391 Whereof eﬀects from basis swaps 0 - 5 021 Change in value from basis swaps before tax - recognised in other comprehensive income -118 914 98 959 Ineﬃciency in hedge accounting is recognised as a change in value and appears in Note 15 as well. Hedge accounting in the balance sheet The hedging instrument is recognised as ﬁnancial derivatives. Value related to the hedged risk is recognised as debt incurred due to issuance of securities. NOK Thousand 2023 2022 Recognitions concerning hedge accounting Financial derivatives (clean value) 1 132 872 476 490 Total ﬁnancial assets 1 132 872 476 490 Nominal hedge items 25 846 750 31 066 750 Adjustments of hedge items - hedged risk 1 074 176 -1 341 841 Financial derivatives (clean value) 87 188 1 743 515 Total ﬁnancial liabilities 27 008 114 31 468 424 The table shows changes in value of the hedging instrument during the ﬁnancial year. The change in fair value of the hedged item that relates to the hedged risk is recognised as an adjustment of the hedged item in the balance sheet. NOTE 20 - BONDS AND CERTIFICATES NOK Thousand 31.12.2023 31.12.2022 Short-term investments designated at fair value through proﬁt Certiﬁcates and bonds issued by public sector 827 767 2 042 255 Certiﬁcates and bonds issued by others 1 314 518 4 387 875 Accrued interests 16 058 28 627 Total 2 158 343 6 458 757 Classiﬁcation of ﬁnancial investments Certiﬁcates and bonds are rated externally. For securities with an oﬃcial rating this will be used, and in cases where an oﬃcial rating does not exist an external broker will provide a credit assessment as a basis for risk classiﬁcation. Sparebanken Sør Boligkreditt AS owns only instruments with the lowest credit risk (AA rated) as at 31 December 2023.

36 NOTE 21 - DEBT DUE TO ISSUANCE OF SECURITIES Matured / Other changes NOK Thousand 31.12.2022 Issued redeemed in period 31.12.2023 Bonds, nominal value 55 737 400 0 -5 921 987 1 454 587 51 270 000 Value adjustments -2 607 556 933 040 -1 674 517 Accrued interest 147 349 - 10 648 136 701 Total debt due to issuance of securities 53 277 192 0 -5 921 987 2 376 978 49 732 184 NOTE 22 – COVER POOL COMPOSITION AND DEBT-TO-ASSETS RATIO Nominal value NOK Thousand 31.12.2023 31.12.2022 Loans secured by mortgages on residential properties 55 706 526 56 503 164 Deductions on ineligible loans * -248 008 -237 935 Pool of eligible loans 55 458 518 56 265 229 Certiﬁcates and bonds 990 000 5 950 000 Total cover pool 56 448 518 62 215 229 Debt incurred due to issuance of securities 48 396 750 54 316 750 Total 48 396 750 54 316 750 Collateralisation ratio (OC) 16.6 % 14.5 % Fair value NOK Thousand 31.12.2023 31.12.2022 Loans secured by mortgages on residential properties 55 807 966 56 561 879 Deductions on ineligible loans * -248 008 -237 935 Pool of eligible loans 55 559 959 56 323 944 Sertiﬁcates and bonds 1 002 797 6 032 542 Financial derivatives (assets) 0 0 Total cover pool 56 562 755 62 356 486 Debt incurred due to issuance of securities 49 680 085 53 242 213 Financial derivatives (debt) -932 958 1 327 922 Total 48 747 126 54 570 136 Collateralisation ratio (OC) 16.0 % 14.3 % Matured / Other changes NOK Thousand 31.12.2021 Issued redeemed in period 31.12.2022 Bonds, nominal value 47 026 500 12 144 183 -4 694 250 1 260 967 55 737 400 Value adjustments 228 744 -2 836 300 -2 607 556 Accrued interest 84 768 62 581 147 349 Total debt due to issuance of securities 47 340 012 12 144 183 -4 694 250 -1 512 752 53 277 192 * Non-performing loans and loans above 80 percent LTV (changed from 75 percent in Q4 2022)

37 Received collateral is presented as debt to credit institutions and paid collateral area is presented as deposits from credit institutions. * Netting agreements are not oﬀset in the balance sheet because the transactions are normally not settled on a net basis. 31.12.2022 Related amounts not presented net NOK Thousand Gross carrying amount Net presented * Net ﬁnancial assets in the balance sheet Financial instruments (net settlements) Other collateral, received/pledged Net amount Derivatives - assets 493 132 0 493 132 492 805 5 322 Derivatives - liabilities -1 821 055 0 -1 821 055 - 492 805 0 -1 328 249 Net -1 327 922 0 -1 327 922 0 5 -1 327 928 31.12.2023 Related amounts not presented net NOK Thousand Gross carrying amount Net presented * Net ﬁnancial assets in the balance sheet Financial instruments (net settlements) Other collateral, received/pledged Net amount Derivatives - assets 1 071 168 0 1071 168 69 066 860 371 141 731 Derivatives - liabilities -138 210 0 -138 210 -69 066 0 -69 144 Net 932 958 0 932 958 0 860 371 72 587 Sparebanken Sør Boligkreditt AS has in place agreements that regulate counterparty risk and netting of derivatives. ISDA agreements have been concluded with ﬁnancial counterparties, whith a supplementary agreement regulating collateral requirements (CSA). Sparebanken Sør Boligkreditt AS has the right to oﬀset balances if certain events occur. The amounts are not oﬀset in the balance sheet due to the fact that the transactions are normally a gross settlement. The assets and liabilities are presented in the table below. NOTE 23 - FINANCIAL DERIVATIVES 31.12.2023 31.12.2022 Average debt to assets ratio in % 53.9 % 53.0% Portfolio divided into intervals of debt to assets ratio Less than or equal to 40 % 19.6 % 19.5 % 41 - 50 % 17. 8 % 18.5 % 51 - 60 % 25.4 % 27.9 % 61 - 70 % 22.5 % 24.2 % 71 - 75 % 9.1 % 6.9 % 76 - 80 % 4.2 % 2.0 % Above 80 % 1.3 % 1.0 % Total 100.0 % 100.0 %

38 NOTE 25 - RELATED PARTIES NOK Thousand 31.12.2023 31.12.2022 Income statement Interest income from Sparebanken Sør on deposits 2 836 1 698 Interest expenses and commission from Sparebanken Sør on loans/credit 132 837 90 862 Interest expenses on bond debts to Sparebanken Sør 0 4 088 Paid administration fees to Sparebanken Sør 100 197 98 603 Balance sheet Bank deposit in Sparebanken Sør 973 173 76 666 Covered bonds owned by Sparebanken Sør 0 0 Loans/credit in Sparebanken Sør 4 544 202 4 013 403 NOTE 26 - EMPLOYEES, MANAGEMENT AND REPRESENTATIVES The company had no employees at 31 December 2023. External board members receive a ﬁxed annual fee determined by the General Meeting. NOTE 24 - IBOR REFORM IBOR reform and the establishment of alternative reference interest rates have been a priority area for authorities worldwide in recent years. Some IBOR interest rates have been replaced with other reference interest rates, while others have received better regulatory monitoring and new requirements for calculation methodology and transparency in the calculations. Sparebanken Sør Boligkreditt AS is exposed to NIBOR and EURIBOR, both of which are approved ﬁnancial reference rates and there are currently no plans to replace these rates. With regard to hedge accounting, the company expects that established hedging relationships can be continued, without any deduction and recognition to be made, and that the hegdes can be continued without major accounting eﬀects. The table below shows nominal amount for derivatives in hedging relationships, categorised by the relevant IBOR rate. All hedging instruments in NOK are exposed to NIBOR and all hedging instruments in EUR are exposed to EURIBOR and NIBOR. 111 1 The group is exposed to NIBOR and EURIBOR rates and considers the complexity of changing the necessary systems to be limited. The group uses standard bond agreements from Nordic Trustee. All the bond loans are listed in VPS and settlement routines are coordinated in VPS. Derivative agreements are based on ISDA documentation and standards for alternative reference interest rates are incorporated there, including fallback-clauses. The group’s EMTN programs are updated annually and also contain fallback-clauses. Thousands 31.12.2023 31.12.2022 Nominal value Interest rate swaps NOK 500 000 850 000 Interest rate swaps EUR 2 500 000 3 000 000

39 Events of major signiﬁcance to the accounts have not occured after the balance sheet date. NOTE 28 - SUBSEQUENT EVENTS 1) For equity movements and allocations, we refer to the equity statement. NOK Thousand 2022 Shareholders Number of shares Nominal value per share Share capital (1) Dividend (1) Proﬁt for the period (1) Proﬁt per share (1) Sparebanken Sør 100 000 20 750 2 075 000 314 000 258 574 2 585,74 NOK Thousand 2023 Shareholders Number of shares Nominal value per share Share capital (1) Dividend (1) Proﬁt for the period (1) Proﬁt per share (1) Sparebanken Sør 100 000 20 750 2 075 000 0 299 123 2 991,23 NOTE 27 - SHARE CAPITAL AND SHARE OWNERS Alternative perfomance measures Sparebanken Sør Boligkreditt AS presents alternative performance measures (APMs) which provide useful information to supplement the ﬁnancial statements. These performance measures are not deﬁned in IFRS (International Financial Reporting Standards) and by necessity are not directly comparable with the performance measures of other companies. Alternative performance measures are not intended to replace or overshadow accounting ﬁgures under IFRS, but are included in our reports to better highlight the underlying operation Key ﬁgures regulated in IFRS or other legislation are not regarded as alternative performance measures. The same applies to non-ﬁnancial information. Sparebanken Sør Boligkreditt AS’s alternative performance measures are presented in the overviews of key ﬁgures, calculations and the Board of Directors’ report. All APMs are presented with comparative ﬁgures. The APMs mentioned below have been used consistently over time. Sparebanken Sør’s alternative performance measures and deﬁnitions: MEASURE DEFINITION Loan to value (LTV). The key ﬁgure provides information on the loan-to-value ratio in the loan portfolio and is relevant for assessing risk of loss. Calculated as the loans to customers divided by the market value of secured assets.