DNB GROUP AT

GOLDMAN SACH

ROME 16 JUNE 2015

Rune Bjerke CEO DNB

Pre-tax operating profit before impairment in NOK billion

9.3 (7.4)

Cost/income ratio in per cent

37.0 (41.3)

Return on equity in per cent

16.1 (15.4)

Common equity Tier 1 capital ratio in per cent (transitional rules)

12.7 (11.9)

Figures in parentheses refer to 1Q14

2

First quarter 2015

Earnings per share

4.01 (3.37)

Profit figures

Pre-tax operating profit before impairment NOK million

Pre-tax operating profit before impairment

excl. basis swaps NOK million

Profit for the period NOK million

Profit for the period

excl. basis swaps NOK million

3

5 478

4 553

5 6204 965

6 533

1Q14 2Q14 3Q14 4Q14 1Q15

5 913

4 5295 292

4 5945 211

1Q14 2Q14 3Q14 4Q14 1Q15

7 3776 722

7 6266 964

9 273

1Q14 2Q14 3Q14 4Q14 1Q15

7 973

6 6897 177

6 456

7 462

1Q14 2Q14 3Q14 4Q14 1Q15

Return on equity and cost/income ratio

Return on equity excl. basis swaps 1) Per cent

Return on equity 1)

Per cent

Cost/income ratio Per cent

Cost/income ratio excl. basis swaps Per cent

39.443.9

41.844.1 42.2

1Q14 2Q14 3Q14 4Q14 1Q15

41.343.8

40.4 42.2

37.0

1Q14 2Q14 3Q14 4Q14 1Q15

15.4

12.4

14.8

12.6

16.1

1Q14 2Q14 3Q14 4Q14 1Q15

16.6

12.314.0

11.712.9

1Q14 2Q14 3Q14 4Q14 1Q15

1) Return on equity is calculated on the assumption that additional Tier 1 capital is classified as liability .

4

Ratio of deposits to net loans and earnings per share

Earnings per share NOK

Ratio of deposits to net loans Per cent

The ratio of deposits to net loans excl. short-term

money market investments

5

3.37

2.80

3.45

3.05

4.01

1Q14 2Q14 3Q14 4Q14 1Q15

67.0

64.4 64.065.4 65.2

65.0 64.3 63.9 63.5 64.1

31 March2014

30 June2014

30 Sept.2014

31 Dec.2014

31 March2015

Customer segments

6

Pre-tax operating profit after impairment NOK million

2,393

869

2,865

2,514

854

2,909

2,135

845

2,870

1Q15

4Q14

1Q14

Personal customers Large corporates and

international customers Small and medium-

sized enterprises

Development in loans

NOK billion

1 315

1 344

1 476

1 315

1 327

1 389

31 March 13 30 June 13 30 Sept. 13 31 Dec.13 31 March 14 30 June 14 30 Sept. 14 31 Dec.14 31 March 15

Loans at end of period Loans adjusted for exchange rate movements

7

Development in deposits – adjusted for short-term money market investments

NOK billion

8

810

874

946

810

861877

31 March 13 30 June 13 30 Sept. 13 31 Dec.13 31 March 14 30 June 14 30 Sept. 14 31 Dec.14 31 March 15

Deposits adjusted for short-term money market investments

Deposits adjusted for short-term money market investments and exchange rate movements

Development in average interest rate spreads

Per cent

2.212.32

2.42 2.42 2.42 2.392.31 2.32 2.32

(0.30)(0.24) (0.29) (0.30) (0.29) (0.27)

(0.17) (0.15) (0.11)

1.201.28 1.29 1.30 1.25 1.27 1.25 1.27 1.28

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15

Lending spread

Deposit spread

Combined spread- weighted average

9

NOK million

10

Development in commissions and fees

1) The first quarter figures in 2014 and 2015 are adjusted for income from public sector activities within life insurance

that are in the process of being wound up.

1)

1,807

1,981 1,935 1,956

2 113 2 200

1Q10 1Q11 1Q12 1Q13 1Q14 1Q15

Sale of insurance products Money transfer and  banking services

Asset management and custodial services Investment banking services

Real estate broking Net commissions and fees

+ 4.1% growth

1) 1)

Income statement

11

Full year

Amounts in NOK million 1Q15 4Q14 3Q14 2Q14 1Q14 2014

Net interest income 8 587 8 700 8 228 7 867 7 691 32 487

Net commissions and fees 2 212 2 313 2 229 2 242 2 185 8 969

Net gains on financial instruments at fair value 3 400 279 1 817 1 132 2 089 5 317

Net financial and risk result, DNB Livsforsikring 52 185 136 183 105 609

Net insurance result, DNB Skadeforsikring 99 129 121 139 102 491

Other operating income 361 446 256 391 397 1 490

Net other operating income, total 6 124 3 352 4 560 4 087 4 877 16 877

Total income 14 711 12 052 12 788 11 954 12 569 49 363

Operating expenses 5 215 5 045 5 088 5 150 5 168 20 452

Restructuring costs and non-recurring effects 223 42 74 83 24 223

Pre-tax operating profit before impairment 9 273 6 964 7 626 6 722 7 377 28 689

Net gains on fixed and intangible assets 12 42 13 (3) 0 52

Impairment of loans and guarantees 575 821 183 554 80 1 639

Pre-tax operating profit 8 710 6 184 7 456 6 165 7 297 27 102

Tax expense 2 130 1 236 1 828 1 600 1 799 6 463

Profit from operations held for sale, after taxes (47) 16 (8) (11) (19) (22)

Profit for the period 6 533 4 965 5 620 4 553 5 478 20 617

Profit attributable to shareholders 6 519 4 965 5 620 4 553 5 478 20 617

Net gains on financial instruments

4Q14 - 1Q14 -

Amounts in NOK million 1Q15 4Q14 1Q14 1Q15 1Q15

Customer revenues in DNB Markets 622 549 459 73 163

Trading in foreign exchange/fixed income/equities in

DNB Markets468 94 590 374 (123)

Changes in credit spreads on bonds in DNB Markets 140 (196) 148 336 (8)

Adjustments in valuation models with effects on the

balance sheet and income statement- (242) 291 242 (291)

The bank's own equity investments (193) (146) 1 (47) (195)

Exchange rate effects, additional Tier 1 capital 170 - - 170 170

Other mark-to-market adjustments (incl. CVA/DVA) 384 (287) 282 671 102

1 590 (229) 1 772 1 819 (182)

Basis swaps 1 810 508 (596) 1 302 2 406

Valuation of the investment in Nets - - 913 - (913)

Net gains on financial instruments at fair value 3 400 279 2 089 3 121 1 311

Change

Net gains on financial instruments at fair value, excl.

basis swaps

12

Changes in net interest income

NOK million From 1st quarter 2014 to 1st quarter 2015

7 691

8 587

366

264 116

112 90 (54)

1Q14 Exchangerate

effects

Lendingand

depositvolumes

Long-term

funding

Lendingand

depositspreads

Interestrate

instruments

Othernet

interestincome

1Q15

13

Changes in net interest income

NOK million From 4th quarter 2014 to 1st quarter 2015

14

8 7008 587

228 89 21 (26) (46) (90)

(122) (169)

4Q14 Exchangerate

effects

Lendingand

depositspreads

Long-term

funding

Lendingand

depositvolumes

Equity andnon-interest

bearingitems

Interestrate

instruments

Othernet

interestincome

Interestdays

1Q15

Changes in net other operating income

NOK million From 1st quarter 2014 to 1st quarter 2015

4 877

6 124

2 406 39 27 (54) (77) (182) (913)

1Q14 Basisswaps

Otheroperating

income

Netcommissions

and fees

Net financialand risk result

from DNBLivsforsikring

Profitfrom

associatedcompanies

Net gains onother financial

instruments

Investmentin Nets

1Q15

15

Changes in net other operating income

NOK million From 4th quarter 2014 to 1st quarter 2015

16

3 352

6 124

1 819

1 302 (27) (87) (102)

(133)

4Q14 Netgains on other

financialinstruments

Basisswaps

Otheroperating

income

Net gains oninvestment

property

Netcommissions

and fees

Netfinancial and

risk result fromDNB Livsforsikring

1Q15

Changes in operating expenses

17

Change in

Amounts in NOK million 1Q15 Change 1Q14 per cent

Total adjusted operating expenses 5 215 47 5 168 0.9

Of which :

Exchange rate effects for units outside Norway 83

Currency-adjusted operating expenses 5 132 (36) 5 168 (0.7)

Total adjusted operating expenses 5 215 47 5 168

Income-related costs

Ordinary depreciation on operational leasing 17

Expenses directly related to operations

Fees 33

Pension expenses 21

Properties and premises (61)

Other costs 37

Non-recurring effects 223 199 24

Restructuring costs, employees 50 5 46

Other restructuring costs and non-recurring effects 64 87 (22)

IT restructuring 108 108 0

Operating expenses 5 438 246 5 192 4.7

Changes in operating expenses

Change in

Amounts in NOK million 1Q15 Change 4Q14 per cent

Total adjusted operating expenses 5 215 170 5 045 3.4

Of which :

Exchange rate effects for units outside Norway 43

Currency-adjusted operating expenses 5 172 127 5 045 2.5

Total adjusted operating expenses 5 215 170 5 045

Income-related costs

Customer paid marketing, DNB Eiendom 31

Expenses directly related to operations

Pension expenses 72

IT expenses 39

Performance-based pay 36

Other costs (8)

Non-recurring effects 223 181 42

Restructuring costs, employees 50 (36) 86

Other restructuring costs and non-recurring effects 64 104 (40)

Reversal of provisions 0 73 (73)

IT restructuring 108 39 70

Operating expenses 5 438 350 5 088 6.9

18

Impairment of loans and guarantees

19

Full year

Amounts in NOK million 1Q15 4Q14 3Q14 2Q14 1Q14 2014

Personal customers (34) (67) 84 53 48 118

- Mortgage loans (81) (141) 33 (5) (16) (129)

- Consumer finance 46 74 51 58 64 247

Small and medium-sized enterprises 308 450 165 157 65 838

Large corporates and international customers 256 496 18 292 219 1 024

- Nordic Corporates Division (15) 333 (3) 97 (56) 370

- International Corporates Divison (39) 166 86 (17) 56 291

- Shipping, Offshore and Logistics Division 242 (21) (116) 152 152 166

- Energy Division 12 5 5 (2) 24 31

- Baltics and Poland 50 1 39 53 31 124

- Other units 7 13 8 9 13 42

Total individual impairment 530 879 267 502 332 1 980

Total collective impairment of loans 44 (58) (84) 52 (252) (341)

Impairment of loans and guarantees 575 821 183 554 80 1 639

Total impairment in relation to average volumes

(annualised) 0.16 0.23 0.05 0.16 0.02 0.12

Net non-performing and net doubtful loans and guarantees 1)

18.419.5 19.7

20.7

16.4 16.114.9

17.3

13.9

1.55 1.50 1.501.38

1.191.05 1.01 0.96

0.83

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

2010 2011 2012 2013 2014 2015

DNB Group As a percentage of net loans

Per cent

NOK billion

1) Includes non-performing commitments and commitments subject to individual impairment. Accumulated individual impairment is deducted.

20

Balance sheets

21

31 March 31 Dec. 31 March 31 Dec.

Amounts in NOK billion 2015 2014 2015 2014

Deposits with central banks 305 59 302 54

Due from credit institutions 203 373 457 608

Loans to customers 1 476 1 439 743 723

Other assets 806 779 639 613

Total assets 2 790 2 649 2 141 1 998

Due to credit institutions 263 214 333 269

Deposits from customers 963 942 918 903

Short-term debt securities issued 233 207 233 207

Long-term debt securities issued 620 605 168 160

Other liabilities and provisions 536 523 349 332

Additional Tier 1 capital 8 8

Other equity 166 159 131 128

Total liabilities and equity 2 790 2 649 2 141 1 998

Ratio of deposits to net loans (%) 65.2 65.4 123.6 124.8

Adjusted ratio of deposits to net loans (%) 1) 64.1 63.5 121.3 121.0

Total combined assets 3 089 2 936 2 141 1 998

Currency-adjusted loans to customers 1 459 731

Currency-adjusted deposits from customers 950 904

1) Excluding short-term money market deposits

DNB Group DNB Bank ASA

Common equity Tier 1 capital ratio 1)

Leverage ratio Per cent

Estimate applying average weights

used by Swedish banks 2) Per cent

Transitional rules Per cent

Future Basel III estimate Per cent

22

1) Common equity Tier 1 capital includes 50 per cent of interim profits in all quarters, apart from the Leverage ratio figures.

Annual figures are exclusive of dividend payments.

2) Average weights used by Swedish banks on corporate loans and loans secured by real estate.

11.8 11.9 12.1 12.6 12.7 12.7

31 Dec.2013

31 March2014

30 June2014

30 Sept.2014

31 Dec.2014

31 March2015

5.3 5.1 5.35.7

6.0 5.7

31 Dec.2013

31 March2014

30 June2014

30 Sept.2014

31 Dec.2014

31 March2015

13.6 14.2 14.4 15.0 15.1 14.6

31 Dec.2013

31 March2014

30 June2014

30 Sept.2014

31 Dec.2014

31 March2015

16.317.5 17.3 18.0 18.3 18.8

31 Dec.2013

31 March2014

30 June2014

30 Sept.2014

31 Dec.2014

31 March2015

Changes in the common equity Tier 1 capital ratio

From 31 March 2014 to 31 March 2015

Per cent

11.9

12.7

1.3

0.40.2 0.1

0.1 (0.2)(0.4)

(0.7)

31 March2014

Profit for theperiod after

dividends

Exchange rateeffect on

equity

Capital efficiency

measures

Regulatorychanges

Risk-weightedvolume DNB

Livsforsikring

Increase inpension

commitments

Lendinggrowth

Exchange rateeffect on

existingportfolio

31 March2015

23

Changes in the common equity Tier 1 capital ratio

From 31 December 2014 to 31 March 2015

Per cent

12.7 12.7

0.30.1 (0.2)

(0.2)

31 Dec. 2014 50% of profit for the period

Exchange rate effect onequity

Lending growth Exchange rate effect on existing portfolio

31 March 2015

24

The minimum 14% common equity Tier 1 capital target by year-end 2016 remains firm

25

Financial restructuring Realisation of capital gains

IRB approvals

(does not apply

under transitional

rules)

Capital-efficient

products Asset disposal

CET 1 ratio CET 1

RWA

Active portfolio

management

The Group’s financial ambitions stay firm

Build up of adequate common equity Tier 1 capital through

dynamic management of balance sheet items

Stable volume-weighted spreads

Commissions and fees – underlying growth of 5 per cent

Flat nominal costs throughout 2015 (excluding restructuring costs

and exchange rate effects)

1) Normalised levels are around 28 bps of net loans to customers, which corresponds to losses of approx. NOK 4 billion.

Impairment expected to stay below normalised levels 1) in 2015

– no noticeable effects from oil and gas thus far

26

Financial ambitions 2016 and 2017

> 12 per cent

Min. 14% CET1 ratio 1)

as capital level

> 50% dividend

when capital level is reached

Return on equity

27

1) Based on transitional rules

4 MOST ASKED QUESTIONS

Four most frequently

asked questions by investors

29

I

Are you on track to meeting your

current and future capital

requirements?

30

31 * Fully-loaded Basel III estimate ** As at 31 June 2012

Strong capital accumulation driven by gross earnings

8.6 9.2 9.3

10.6

11.9 12.7

2010 2011 2012 2013 2014 2015

10.6

12.1

14.2 14.6

2012** 2013 2014 2015

4.1 4.3

5.1

5.7

2012** 2013 2014 2015

CET 1 capital ratio, transitional rules

as at 31 March, per cent CET 1 capital ratio, Basel III*

as at 31 March, per cent

Leverage ratio, Basel III as at 31 March, per cent

5.50

6.00

6.50

7.00

7.50

8.00

8.50

9.00

1/4

/2014

1/7

/201

4

1/1

0/2

01

4

1/1

/2015

1/4

/201

5

USD/NOK*

32 *Updated as of 5 June 2015

Capital ratios are sensitive to currency fluctuations

Currency

effects

USD/NOK

EUR/NOK +15%

- 45 bps

Factors affecting the CET1 ratio 2016 effect, bps

+31%

USD/NOK

EUR/NOK - 15%

45 bps +

33

The minimum 14% CET1 capital target remains firm - identified capital efficiency measures in the range of 80-100 bps*

Financial restructuring Realisation of capital gains

IRB approvals

(Do not apply under

transitional rules)

Capital-efficient

products Asset disposal

CET1 ratio CET1

RWA

Active portfolio

management

*up to 2016 under transitional rules

34

DNB – the relative winner?

0%

20%

40%

60%

80%

100%

DNB Nordea SHB SEB Swedbank Danske

Corporate risk weights

RW PD/LGD Floors

0%

10%

20%

30%

40%

50%

DNB Nordea SHB SEB Swedbank Danske

Mortgage risk weights

RW LGD Floor 20% PD Floor 0.2% Pillar 2 requirement

DNB risk

weights –

transitional

rules

???

Future risk

weights –

Basel 4 ? ???

Current

IRB

risk weights

35

II

Will growth in quality

earnings continue?

36

Continued growth in net interest income

15,000

20,000

25,000

30,000

35,000

2010 2011 2012 2013 2014

Net interest income

NOK million

Expected lending growth of 3-4

per cent

Stable development in volume-

weighted spreads

Net interest income expectations for 2015

CAGR

8.5%

37 * Personal customers and SMEs, ** Large Corporates and International

Deposit repricing potential across customer segments

Total = NOK 522 billion

Deposits in retail banking* LCI** maturing volumes and spreads public clients NOK billion, bps

62%

38%

Deposits with repricing potential

Low-yielding deposits / other

7

15

22

-99

-110

-136

2015 2016 2017

Volume Average spread

Total

NOK 536 billion

May March April Average

maturity

38

Sound growth in other quality earnings

Corporate finance

Revenues in NOK million

168

316

Expect underlying growth of 5% in net commissions and fees

35

46

10

27

2012 2013 2014 Q115

CAGR

55%

19

28

20

27

34 36

2012 2013 2014 Q115

Private banking

Assets under management, NOK billion

New pension products

Assets under management, NOK billion

Investments Deposits

39

III

Will DNB be able to compete in a

new digital banking reality?

Our customers prefer digital banking

Digital 86%

Manual 14%

Savings agreements

Digital, 64%

Manual, 36%

Consumer loans

Digital, 50%

Manual, 50%

Car loans

Digital 11%

Manual 89%

Insurance

Sales digital vs. traditional Share of customer traffic

40

Text message banking:

25 %

Online banking:

30%

Branch office: 1%

Call Center: 2%

Mobile banking:

42%

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2013 2014 2015

41

Key takeaways Number of manual transactions in branches

Modernising the way we do banking

• Fundamentally changing the way we

operate our branches:

o Eliminated manual cash handling

o Moving manual banking transactions to digital

channels

• Continued reduction in number of branches

Reduction so far:

67%

Goal:

75%

42

Keeping our best-in-class cost-efficiency position

40

45

50

55

60

65

70

75

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

European banks (top 50)* Nordic peer group DNB

Cost/income DNB vs peer groups Per cent

C/I ambition for 2017

~40%

Combination of

top-line growth and

cost focus

* Based on total assets Source: SNL Financial

43

IV

Lower oil price

- Is there any sign of secondary effects for

Norway and DNB ?

44 Source: Statistics Norway/DNB Markets forecasts

1.2 %

2.4 %

3.5 %

4.5 % 4.4 %

-2%

-1%

0%

1%

2%

3%

4%

5%

6%

7%

2010 2011 2012 2013 2014 2015e 2016e 2017e 2018e

Mainland GDP growth Unemployment rate

GDP growth and unemployment Year on year, per cent

Economic growth in Norway is slowing down - but the landing is soft and at a comfortable level

DNB Markets Oil Price Assumption: $65/bbl. (avg. price) - With an alternative downside scenario

Oil price development USD per barrel

Main assumptions and

a downside $50/bbl.-scenario by DNB Markets

Oil investments 2013 prices, NOK billion

Main assumptions and

a downside $50/bbl.-scenario by DNB Markets

112

47

65

80

90

50

1995 1999 2003 2007 2011 2015e 2019e

Oil price

DNB Markets' forecast

$50/bbl-scenario

Source: Statistics Norway/DNB Markets

98

205

155

123

1997 2000 2003 2006 2009 2012 2015e 2018e

Oil investments

DNB Markets' forecast

$50/bbl-scenario

45

46

Scenario: Lower oil price - What if oil price would stay at $50/bbl.?

1.2

2.4

0.6

4.5

4.1

5.2

-2%

-1%

0%

1%

2%

3%

4%

5%

6%

7%

2010 2011 2012 2013 2014 2015e 2016e 2017e 2018e

Mainland GDP GDP $50/bbl-scenario Unemployment Unempl. $50/bbl-scen.

GDP growth and unemployment Year-on-year, per cent

Consensus assumptions and a downside $50/bbl.-scenario by DNB Markets

Sources: Consensus Forecast, Norges Bank, Statistics Norway, forecast and scenario by DNB Markets as of May 2015

Fiscal policy

Large public wealth gives ample leeway to

smooth business cycles

47 Source: Thomson Datastream, DNB Markets

Two powerful tools to ensure a stable macroeconomic development

0

50

100

150

200

250

300

2001 2003 2005 2007 2009 2011 2013 2015e

Structural, non-oil deficit

4 per cent return on the fund

capital

88

National budget structural, non-oil deficit 2015 prices, NOK billion

Monetary policy

Higher interest rates in Norway

than in the rest of Europe

-1

0

1

2

3

4

5

6

7

2008 2010 2012 2014 2016 2018

ECB Sweden Norway

Central bank rates Per cent

DNB has a well diversified oil-related portfolio - 8% of total Group EaD to oil related portfolios

OSV: Offshore Service Vessels, F(P)SO: Floating (Production) Storage Offloading.

LNG: Liquid Natural Gas. IG: Investment grade,, All figures as of 31 Mar 2015.

48

Inv. grade or similar

22.2 60%

Sub-IG or similar

5.4 15%

Seismic 1.5 4%

Leverage Buy Out

(LBO) 7.7

21%

Other 0.1 0%

Oilfield Services - NOK 37bn

(1.8% of total Group EaD)

NOK bn and per cent of NOK37bn

Exploration &

Production IG

24.0 32%

Exploration & Prod. Sub-IG

4.6 6%

Reserve Based

Lending (RBL) 10.1 13%

Exploration Financing

(EFF) 2.7 4%

Midstream incl LNG

22.4 29%

Refining & petchem

12.2 16%

Oil & Gas exposure - NOK76 bn

(3.7% of total Group EaD)

NOK bn and per cent of NOK 76bn

OSV 22.7

42.7%

Rig 17.6

33.0%

FPSO/FSO 5.2

9.8%

Subsea cons-

truction 4.2

7.9%

Other 3.5

6.6%

Offshore exposure - NOK57 bn.

(2.8% of total Group EaD)

NOK bn and per cent of NOK57bn

Some migration from low to medium risk - 60% of portfolio is low risk and 39% is medium risk

49

EaD: Exposure at Default, PD: Probability of default. Risk grade system, please see back up slide for details.

DNB's risk classification system, where 1 represents the lowest risk and 10 the highest risk.

DNB’s oil-related portfolio split by sub-segment in exposure (EaD) and by risk grade

NOK 169bn as of 31 Mar 2015 (and NOK 161bn as of 31 Dec 2014)

NOK billion

54

64 61

14 10

15 0.20

0.20 0.20

0.00 0.00 0.00

17

18 17

29 33

40

1.47 0.31 0.30 0.00 1.17 1.30

19

23 23

8 10

12

0.61 0.30 1.20 0.20 0.30 0.20

0

20

40

60

80

100

120

Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15

Grade 1-4 "Low risk" Grade 5-7 "Medium" Grade 8-10 "High" Grade 11-12 "Doubtful & NPL"

Oilfield Services

Offshore

Oil & Gas

19 25 26

6 6 10 0.14 0.20 0.20

0.00 0.00 0.00

6

9 8

19 21

25

1.45 0.31 0.00 0.00 1.17 1.30

4

4 4

6 7

8

0.47 0.20 0.80 0.19 0.20 0.20

90

105 101

51 53

67

2.28 0.81 1.70 0.20 1.47 1.50

0

20

40

60

80

100

120

0

20

40

60

80

100

120

Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15 Sep-14 Dec-14 Mar-15

Grade 1-4 "Low risk" Grade 5-7 "Medium" Grade 8-10 "High" Grade 11-12 "Doubtful & NPL"

Oilfield Services (34% drawn loans)

Offshore (59% drawn loans)

Oil & Gas (47% drawn loans)

Exposure (EaD)

Outstanding loans to oil, offshore and oil service are 49% of EaD - Large part of remaining exposure is guarantees and revolving facilities to IG

50

DNB’s oil-related portfolio: Drawn loans split by sub-segment and risk grade, total exposure by risk

grade (EaD) NOK 83bn and exposure (EaD) NOK 169bn as of 31 Mar 2015

NOK billion

EaD: Exposure at Default, PD: Probability of default. Risk grade system, please see back up slide for details.

DNB's risk classification system, where 1 represents the lowest risk and 10 the highest risk.

Doubtful & NPL = Non performing loans, IG = investment grade companies

HERE FOR YOU.

EVERY DAY.

WHEN IT MATTERS

THE MOST.