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Six good reasons for choosing

DNB in the new banking

environment

UBS Conference

12 September, Stockholm

Rune Bjerke, CEO of DNB

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Reason 1:

DNB’s Norwegian platform

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Norway- one of the strongest home markets globally

Source: DNB Markets and OECD Economic Outlook, May 2012

2.8

2.1

1.8

1.5

Norway* Sweden Finland Denmark

Average real GDP growth 1990 - 2012

* Mainland

-200

-150

-100

-50

0

50

100

150

General government net financial liabilities

(As percentage of nominal GDP 2012)

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A strong position - Market leader in Norway and leading within selected global industries

Source: DNB Markets

Significant market share Global leader within selected industries

DNB Other

#1 shipping and offshore bank globally

One of the world’s leading seafood banks

A leading international energy bank

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Reason 2:

DNB’s strong track record of competitive returns

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Sustainable achievements

– We have delivered on our promises

15.6

18.7 21.1 21.8 20.8

11.2 3.5

7.7

3 3.4 3.2

1.7

2008 2009 2010 2011 2012 H113

Development in pre-tax operating profit before impairment (NOK billion)

Pre-tax operating profit before impairment Impairment

CAGR:

7.5 %

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Stable returns in spite of an increasing capital base

70.1

89.6 94.9

104

116 118

12.4%

10.6%

13.6%

11.4% 11.2% 11.6%

0,0 %

2,0 %

4,0 %

6,0 %

8,0 %

10,0 %

12,0 %

14,0 %

16,0 %

18,0 %

20,0 %

0

20

40

60

80

100

120

140

2008 2009 2010 2011 2012 2Q 2013

CET1 capital (NOK billion) Return on equity (%)

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Reason 3:

DNB’s favourable funding position

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Highest deposit-to-loan ratio

Source: 2Q 2013 from the financial institutions

50 53

55 58

63

68

75

Deposit-to-loan ratio: DNB (Per cent)

75

70

54

39

58

48

DNB Bank 1 Bank 2 Bank 3 Bank 4 Bank 5

Deposit-to-loan ratio: Nordic banks (Per cent, 2Q13)

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Stable access to long-term funding and decreasing funding costs

Source: DNB Markets

-50

0

50

100

150

200

2007 2008 2009 2010 2011 2012 2013

Indicative Trading Level Spreads NOK

DNB 5Y senior unsecured DNB 5Y covered bonds

5-year senior and covered bonds

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Reason 4:

DNB’s potential for growth in quality earnings

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Stable growth in net interest income

All numbers are in NOK Million

24 197

24 613

25 252

25 887

26 473

26 907

27 216

27 419

28 266

30 June 30 Sept. 31 Dec. 31 March 30 June 30 Sept. 31 Dec. 31 March 30 June

2011 2012 2013

+ 8.3 per cent

+ 9.4 per cent

+ 9.3 per cent

+ 7.8 per cent

+ 5.9 per cent

+ 6.8 per cent

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Still high potential in non-capital-intensive areas

Source: Second quarter report 2013 from the financial institutions

72 63 60 56 56

44

28 37 40 44 44

56

Bank1 DNB Bank2 Bank3 Bank4 Bank5

Net interest income as a percentage of total income (%)

Net other operating income as a percentage of total income (%)

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Several areas with high expected growth

Issuance of non-financial

bonds in Norway at all-time

high in 2012

Norway has the world’s

highest growth in USD

millionaires

Issuance of non-financial bonds

in Norway in NOK million

Jan

Feb

Ma

r

Apr

Ma

y

Jun

Jul

Aug

Sep

Oct

No

v

De

c

2010 2011

2012 2013

64

55,3

Growth potential in the

non-life insurance market

5%

95%

DNB Others

Non-life insurance market

2010 2011

Development in number of USD millionaires,

Norway

6.2% 90 000

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Reason 5:

DNB’s firm actions for cost reductions

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Firm actions for cost reductions ensures competitive

cost efficiency

Source: Company Reports Q213 * Ratios ‘as reported’

46% 48%

50% 50% 52%

61%

Bank 1 DNB Bank 2 Bank 3 Bank 4 Bank 5

Cost/income ratio* – Nordic banks 2013

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Reason 6:

DNB’s solid capital base

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Perceived solidity is not best in class

– different risk weights due to local regulatory requirements

12.1

14.2

17.2 17.8

14.0

DNB Bank 1 Bank 2 Bank 3 Bank 4

Equity Tier 1 ratio Basel III Per cent

Source: Second quarter report 2013 from the financial institutions

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Risk-adjusted capital places us among the most solid banks

Standard and Poor’s 2013

9.42% 8.86%

8.25% 8.22% 8.21% 7.78%

Bank 1 DNB Bank 2 Bank 3 Bank 4 Bank 5

DNB’s risk-adjusted capital versus peers 2013

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1

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Six good reasons for choosing DNB in the

new banking environment

Our “Norwegian” platform

Our strong track record of competitive returns

3

4

5

6 Our solid capital base

Our firm actions for cost reductions

Our potential for growth in quality earnings

Our favourable funding position

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Some kind of sum up- that

confirmes that we are creating

values in spite of a low growth

environment