Valuation hierarchy for financial instruments at fair value – Q3 2026

Note 13 Valuation hierarchy for financial instruments at fair value

Level 1
Financial instruments traded in active markets are classified as level 1. A market is deemed to be active if the market prices are easily and regularly available from a stock exchange, broker, industry group, pricing service or regulatory authority, and these prices represent actual and regularly occurring market transactions at arm’s length. The market price used for financial assets is the applicable purchase price, while the applicable sales price is used for financial liabilities. Instruments included in level 1 comprise some treasury certificates.

Level 2
The fair value of financial instruments that are not traded in an active market is determined by using valuation methods. These valuation methods maximise the use of observable data where available and, as far as possible, are not based on the group’s own estimates. If all the material data required to determine the fair value of an instrument are observable data, the instrument is included in level 2. Instruments included in level 2 comprise loans to customers, equity instruments on the OTC list, other certificates and bonds, financial derivatives and all financial liabilities valued at fair value.

Level 3
If one or more data items are not based on observable market information, the instrument is included in level 3. Non-listed equity instruments, certain equity instruments on the OTC list and loans to customers valued at fair value are classified at level 3.

30.09.26	Level 1	Level 2	Level 3	Total
Financial instruments valued at fair value				GROUP
Assets
Loans to and receivables from customers			20,041	20,041
Shares, units and other equity instruments	272		207	479
Commercial papers and bonds	20,840	40,424		61,263
Financial derivatives		645		645
Financial derivatives designated for hedge accounting		1,606		1,606
Total	21,112	42,675	20,248	84,034
Liabilities
Deposits from and liabilities to customers		8,570		8,570
Securitised debt		37,721		37,721
Securitised debt designated for hedge accounting		20,326		20,326
Financial derivatives		3,343		3,343
Financial derivatives designated for hedge accounting		2,936		2,936
Senior non-preferred bonds		8,619		8,619
Subordinated loan capital		419		419
Total	0	81,935	0	81,935

	Loans to customers	Shares
Financial instruments in level 3 – opening balance	23,869	243
Additions/acquisitions	3,146	43
Sales/redemption/repayment	-6,758	-95
This years value adjustment	-217	17
Addition through merger	0	0
Reclassification between levels 1 and 3	0	0
Financial instruments in level 3 – closing balance	20,041	207

30.09.25	Level 1	Level 2	Level 3	Total
Financial instruments valued at fair value				GROUP
Assets
Loans to and receivables from customers			24,827	24,827
Shares, units and other equity instruments	297		213	509
Certificates and bonds	24,804	46,161		70,965
Financial derivatives		1,822		1,822
Financial derivatives designated for hedge accounting		6,964		6,964
Total	25,101	54,947	25,040	105,087
Liabilities
Deposits from and liabilities to customers		6,733		6,733
Securitised debt		34,663		34,663
Securitised debt designated for hedge accounting		27,659		27,659
Financial derivatives		980		980
Financial derivatives designated for hedge accounting		298		298
Senior non-preferred bonds		7,555		7,555
Subordinated loan capital		428		428
Total	0	78,316	0	78,316

	Loans to customers	Shares
Financial instruments in level 3 – opening balance	22,564	130
Additions/acquisitions	1,738	12
Sales/redemption/repayment	-4,354	-125
This year's value adjustment	72	-15
Addition through merger	4,807	211
Reclassification between levels 2 and 3	0	0
Financial instruments in level 3 – closing balance	24,827	213

Q3 2026Unaudited

Note 13 Valuation hierarchy for financial instruments at fair value