Key Financial Indicators and Balance Sheet Analysis Q1 2023

Borrowings Balanced maturity profile with broad funding options Borrowings by type 393 391 370 357 Maturities of borrowings and call dates on subordinated liabilities 125.1 122.1 299 164 96.0 142 180 Q4 154 - Arion Bank issued private placements amounting to NOK 200 million and SEK 300 million in Senior Preferred in Q1 2023 145 - Total issuance of Covered Bond format ISK 32.9bn in Q1 2023 of which ISK 21.6bn for own use - - Positive spread development in early 2023 but now widening following US banking sector volatility and Credit Suisse/UBS merger The Bank will continue to regularly issue in the domestic market and opportunistically access the international markets 67 66 Q2 22 44 66 21.0 14.0 13.0 154 160 161 161 147 36.9 8.1 0.4 0.4 0.4 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 >2033 ■Covered bonds ISK Covered bonds EUR ■Subordinated liabilities ■Senior unsecured 31.12.20 31.12.21 31.03.22 31.12.22 31.03.23 Development of EUR funding spreads (bps) ■Covered bonds - ISK Covered bonds - EUR ■Senior unsecured 500 Bills and other 450 April 2023 400 350 Ratings 300 250 S&P 200 Long term BBB A 150 100 Covered bond A N/A 50 Short term A-2 A-1 0 30.9.21 31.3.22 30.9.22 31.3.23 Outlook Negative Stable Moody's Arion covered 26 Arion Senior 25 Deposits - long term A3 N/A Source: Bloomberg Issuer long term 24 All amounts in ISK bn Outlook Baa1 Positive A2 Stable

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