Strictly private and confidential

Hordaland på Børs - 2017

Strictly private and confidential

Q2 2017 – Skandiabanken group

Developments in the quarter

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• The most satisfied and loyal customers in the banking industry in Norway

• Best reputation among Norwegian banks

• Announcing introduction of new products

• Implementing new offerings within insuranceand savings

• First Norwegian bank to enable overview of cryptocurrency balances

• Strong growth in mortgage lending and increased number of customers

After the quarter: New name and profile

Second quarter 2017 highlights

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Q2-17 Q1-17

Earnings before tax (NOK million): 203.6 217.4

Net interest income (NOK million):

Net interest margin in Q2 2017 of 1.57 (1.63) 310.6 299.0

Loans to customers (NOK billion):

18.1 per cent growth in gross customer lending last 12 months 71.1 67.9

Cost / Income ratio (per cent): 40.2 43.1

Return on Equity (per cent): 12.4 13.7

CET1* (per cent): 14.4 14.5

* Including 90 per cent of retained earnings in Q2 2017 and 70 per cent in Q1 2017

Key financial figures

ROE*

Earnings before taxOperating income

EPS**

4* Return to shareholders after tax (annualised) as a percentage of average shareholder equity in the period. Q2 2016 ROE adjusted for income for Visa Transaction in Q2 2016

** EPS of 3.32 is including profit from the Visa Transaction in Q2 2016

337 318 353 346 359

228

565

2Q16 3Q16 4Q16 1Q17 2Q17

175 204 198 217 204

228

404

2Q16 3Q16 4Q16 1Q17 2Q17

12,9% 13,5% 12,7% 13,7% 12,4%

2Q16 3Q16 4Q16 1Q17 2Q17

2,14

1,40 1,36 1,52 1,39

1,18

3.32

2Q16 3Q16 4Q16 1Q17 2Q17

Loans to customers

Net interest income

Other loansHome loans

Net interest margin

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56,5 57,259,5

63,967,1

2Q16 3Q16 4Q16 1Q17 2Q17

18.8%

1,4

0,9

1,51,4

1,0

1,6

1,3

1,0

1,6

1,31,1

1,6

1,3 1,2

1,5

Car loans Consumer credits Other credit products

2Q16 3Q16 4Q16 1Q17 2Q17

296 300309

299311

2Q16 3Q16 4Q16 1Q17 2Q17

5.1%

1,721,67

1,74

1,631,57

2Q16 3Q16 4Q16 1Q17 2Q17

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Taking the next step

Score ranging from 0-100; Source: Norsk Kundebarometer (May 2017)7

Market leading customer satisfaction and loyalty

65,0

70,0

75,0

80,0

85,0

90,0

95,0

2010 2011 2012 2013 2014 2015 2016 2017

Loyalty

Skandiabanken Nordea SpareBank 1

Danske Bank DNB Eika Alliansen

Handelsbanken

65,0

70,0

75,0

80,0

85,0

90,0

2010 2011 2012 2013 2014 2015 2016 2017

Satisfaction

Skandiabanken Nordea SpareBank 1

Danske Bank DNB Eika Alliansen

Handelsbanken

Mortgage exposure by geography

Expanding the concept

Insurance

SME

Savings

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Introduction of new products and services aimed to increase future capital-light revenues:

Insurance roadmap

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Car insurance

Payment insurance

-Consumer

loans

Consider life and health

related products

Consider a broader P&C

insurance

Payment insurance

-Car loans

Payment/debt

insurance-

Mortgages

SME roadmap

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Fair savings -

Seamless banking

Easy invoicing

Add on product & services

New financing services

Liquidity management

Integrated bookkeeping

Savings roadmap

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New savings products

-ASK & IPS

Robo advisor 1.0

Expand product portfolio

Integrated bookkeeping

Holistic advisor

Technological fit

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• Born digital

• Open banking

• Scalable and light-weight architecture

• Cost efficiency through automation and personalisation

* Including 90 per cent retained earnings

Note: Targets are subject to the current capital requirements. Any future regulatory changes could imply a change to the target

Targets 2017-2019

Targets

Return

Growth

Capital

Dividends

Operational efficiency

Return on equity

Pay-out ratio

CET1 ratio

Annual loan growth

Cost-to-income ratio

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Per 30.06.2017

12.4 %

TBD

14.4 %*

18.1 %

40.2 %

14.0 %

Up to 30 %

13.5 %

> 10 %

<35 %

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Questions and answers

As from 5 October 2015, the Norwegian banking business in Skandiabanken AB (Skandiabanken AB NUF) was transferred to Skandiabanken ASA, and its wholly-owned coveredbond subsidiary, Skandiabanken Boligkreditt AS. The two companies constitute the Skandiabanken group.

This presentation contains certain forward-looking statements relating to the business, financial performance and results of the group. No representation is made that any ofthese forward-looking statements or forecasts will come to pass or that any forecast result will be achieved and any reader is cautioned not to place any undue reliance on anyforward-looking statement. The information obtained from third parties has been accurately reproduced and, as far as the company is aware and able to ascertain from theinformation published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading.

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Important information