Download the presentation from our press conference August 14th 2013. More info: http://investor.sparebank1.no

1. SpareBank 1Gruppen
Presentation 1st Half 2013
SpareBank 1Gruppen
14 August 2013 - Kirsten Idebøen CEO14 August 2013 - Kirsten Idebøen, CEO

2. Performance in the 1st half of 2013
• Substantial improvement in pre-tax profit – MNOK 531 (296)
f f f
• Premium growth and good result for the life insurance business
• Buffer capital has grown further
M k t l d i l i d t b i d l k t h i• Market leader in new personal insurance product business and low market shares in
capital intensive products
I t i fit bilit d fit f i t ib t d t• Improvements in profitability and profit from prior years contributed to a
good result for the P&C Insurance business
• Gross combined ratio of 89.8%, down 10 percentage points from 1st half of 2012
• New control structure and new management team - integration of the
financing group, SpareBank 1 Gruppen and Alliansesamarbeidet
2

3. Key figures
Pre-tax profit for the year-to-date (MNOK)Pre-tax profit for the quarter (MNOK)
164
145
170 531
123
295 308 296
Q2 Q2 Q2 Q2 1H 1H 1H 1H
Annualised return on equity (%) Capital adequacy ratio as of the end of the quarter (%)
Q2
2010
Q2
2011
Q2
2012
Q2
2013
1H
2010
1H
2011
1H
2012
1H
2013
11.9
10.5 10.5
15.6 15.9 16.7
14.6 14.0 14.6
3
1H
2010
1H
2011
1H
2012
1H
2013
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013

4. Pre-tax profit from subsidiaries almost doubledPre tax profit from subsidiaries almost doubled
438
1H2012
284
1H2012
1H2013
236 236
284
1416
3
-2
-90
-35
ce
rea
ce
ea
ng
es
ent
1
ets
feinsuran
usinessar
&CInsuran
usinessare
ODIN
Forvaltni
Receivable
manageme
SB1
Marke
4
Li
bu
P&
bu
R
m

5. Insurance business area The integration of the life and P&C insurance
5
business has been a success

6. Insurance business area (life and P&C combined)
Strong improvement in the insurance unit
94 5 95.2 93 9 92 7 95 5
Strong improvement in the insurance unit
Gross combined ratio - Risk insurance (%) Combined ratio risk insurance as of 1st half of 2013
C bi d C t/i
22.2
21.7
14.1 17.3 19.1 19.1
24.8 18.5 20.1
88.9
94.5 95.2 93.9 92.7 95.5
89.1
83.4 82.6
Combined
ratio
Claims ratio
Cost/income
ratio
83.0% 63.8% 19.3%
66.8 72.8
81.1 76.6 73.6 76.4
64.3 64.9 62.6
85.0% 63.1% 21.9%
85.3% 69.5% 15.8%
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013
Net claims ratio Net cost ratio
Actual effects of merger (MNOK)
88.2% 75.4% 12.7%
89.9% 72.6% 17.2%
*S B k 1' fi f i k i i l d S B k 1 Sk d f ik i G d l i k*SpareBank 1's figures for risk insurance include SpareBank 1 Skadeforsikring Group and personal risk
products legally belonging to SB1 Forsikring AS (formerly SB1 Liv AS)
179
214
225
131
6
2013 2014 2015
Actualannualeffectas at 30/06/13 Targettotaleffect

7. SpareBank 1Forsikring AS (life insurance business)
Well on track with building up of reserves for longevity. Good
16.3
15 5
buffers
Pre-tax profit for the quarter (MNOK)
Buffer capital trend, per quarter (%)
147
12.8
14.8
16.3
13.6
14.8 15.5
94
142
147
137
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
20132012 2012 2012 2012 2013 2013
Core capital in excess of minimum Interim profit
Additional provisions Securities adjustment reserve
Market share personal insurance Q1 2013 (Q1 2012)
Q1 2012 Q2 2012 Q1 2013 Q2 2013
Key figures for 1H2013 (1H2012) in MNOK
•Gross due premium income: 2 039 (1 870)
•Risk result: 185 (122)
Ranking Company
Market share
New premiums 131 (131) MNOK
1 S B k 1 27 2% (32 2%)
Life insurance, disability pension and disability capital
•Risk result: 185 (122)
•Administration result: -11 (-26)
•Investment result: 205 (120)
1 - SpareBank 1 27.2% (32.2%)
2 - Gjensidige 23.9% (17.4%)
3 - Frende 16.5% (12.0%)
7
•Pre-tax profit: 284 (236) 4 - Nordea 11.2% (14.6%)
5 - Eika 8.7% (8.8%)

8. SpareBank 1Skadeforsikring Group (P&C insurance business)
Strong improvement in result driven by profit fromStrong improvement in result – driven by profit from
prior years and reduced compensation costs
Pre-tax profit for the quarter (MNOK) Actual effects of P&C costs project (MNOK)
265
158
175
166 174 112
135 141
104
124
140
158
70
Q4 Q1 Q2 Q3 Q4
Key figures for 1H2013 (1H2012) in MNOK
Q1 2012 Q2 2012 Q1 2013 Q2 2013 Q4
2012
Q1
2013
Q2
2013
Q3
2013
Q4
2013
Actualannualeffect Targettotaleffect
y g ( )
•Gross written premium: 2 984 (3 144)
•Insurance result: 190 (12)
8
•Pre-tax profit: 438 (236)

9. ODIN Forvaltning Costs reducing measures contributed to
9
improved result

10. ODIN Forvaltning
Costs reducing measures contributed to improved resultCosts reducing measures contributed to improved result
Pre-tax profit for the quarter (MNOK) Return on equity funds for the year-to-date (%)
8.4
7.7
22.7
0
.1
19.1
25.0
Fund Benchmark
1.7
13.2
9.2
13.2
11.4
8.8
8.6
7.9
11.1
16.
6.3
13.7
13.2
12.0
11.3
16.
1.6
14.0
12.1
-0.5 -1.5
Q1 2012 Q2 2012 Q1 2013 Q2 2013
-1
ODIN
Norge
ODIN
Sverige
ODIN
Finland
ODIN
Norden
ODIN
Europa
ODIN
Europa
SMB
ODIN
Global
ODIN
Emerging
Markets
ODIN
Maritim
ODIN
Offshore
ODIN
Eiendom I
Market share equity and combination funds (%)Key figures for 1H2013 (1H2012) in MNOK
•Operating income: 136 (131) 12.0
Market share equity fund Market share combination fund
•Pre-tax profit: 16 (-2)
•Total assets: 27 318 (23 541)
2 0
4.0
6.0
8.0
10.0
10
0.0
2.0
2011 2012 2013

11. Receivables Good earnings in factoring and portfolio,
11
management deficit in debt collection business

12. Receivables management
Good earnings in factoring and portfolio deficit in debtGood earnings in factoring and portfolio, deficit in debt
collection business
Pre-tax profit for the year-to-date (MNOK)
• Factoring
t t th i th k t
19.81H2012 1H2013
- strongest growth in the market
- market share of 16.9% (14.6%)
• Debt collection11.6
- lost 2-3 major customers
- challenging market conditions
- but increase in number of new debt collection
assignments in last 12 months
4.4 3.8
9.7
3.9
7.9
assignments in last 12 months
-5.7
FO Factoring FO Portefølje Conecto
(debtcollection)
Receivables
management
12

13. SpareBank 1 Markets The improvements in SpareBank 1 Markets
13
p
continue, with the highest income in one quarter
ever

14. SpareBank 1 Markets
B i iBest income in any one quarter
B k d i f th t (MNOK) Key figures for 1H2013 (1H2012) in MNOKBooked income for the quarter (MNOK) Key figures for 1H2013 (1H2012) in MNOK
• Income: 107 (73)
• Operating result: 4 (-37)
P t fit 35 ( 90)
50
46
61
• Pre-tax profit: -35 (-90)
Key figures for Q2 2013 (Q2 2012) in MNOK
40
27
46
• Income: 61 (40)
• Operating result: 9 (-18)
• Pre-tax profit: -10 (-45)
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013
Income contributions from business areas (MNOK)
2013 2012 2013 2012
Half yearQ2
Equities & HY 15.3 9.6 37.6 24.2
DCM/FX 15.8 4.6 25.0 13.8
Corporate 28.1 24.4 40.0 31.5
Bank 2.1 1.4 4.5 3.4
Total income 61 3 40 0 107 2 72 9
14
Total income 61.3 40.0 107.2 72.9

15. Best when it comes to return on equityBest when it comes to return on equity
Average1st half Average
2010-2012
SpareBank 1 Gruppen 15.6% 12.8%
1st half
2013
Handelsbanken 14.2% 13.8%
Nordea 11.3% 11.5%
DNB 10.8% 12.2%
Storebrand 10.6% 8.1%
Gjensidige 9.8% 14.2%
Danske Bank 5 2% 2 9%Danske Bank 5.2% 2.9%
15
Source: The companies financial statements. Return on equity after tax measured against a selected sample of mixed Nordic financial groups

16. Thank you for your time!
Kirsten Idebøen
16

17. Appendixpp

18. The SpareBank 1 Alliance has a solid business model with
its proximity to its customers and a conservative riskits proximity to its customers and a conservative risk
profile
Shareholders
and distributors SamSpar
19.5% 19.5% 19.5% 12% 19.5% 10%
Products commissions andProducts, commissions and
dividend
Sales
SpareBank 1 Gruppen AS
BN Bank Bank 1 Oslo Akershus
SpareBank 1 NæringskredittSpareBank 1 Boligkreditt
SpareBank 1 Skadeforsikring
(100%)
ODIN Forvaltning
(100%)
SpareBank 1 Forsikring SpareBank 1 Medlemskort
SpareBank 1 Gruppen AS
Companies in
the SpareBank 1
Alliance
EiendomsMegler 1
(100%) (100%)
SpareBank 1 Markets
(97.80%)
SpareBank 1 Gruppen Finans
(100%)
Conecto
The alliance
Brand, technology, expertise, processes, best practice and purchasing.
Resource centres: Payment/Trondheim credit/Stavanger training/Tromsø
Conecto
(100%)
18
Resource centres: Payment/Trondheim, credit/Stavanger, training/Tromsø

19. SpareBank 1 Gruppen
New management structure from 01/07/2013New management structure from 01/07/2013
CEO
Kirsten Idebøen
Risk management and
Compliance
Torbjørn Martinsen
IT
Eivind Gjemdal
Corporate Governance
Jarle Haug
Product Companies
Turid Grotmoll
Rune Selmar
Business Development
Iren Rutle
Market
Tore Haarberg
Saving
Rune Selmar
g
Payment Financing

20. Results for 1st half-year 2013
Figures in MNOK 2013 2012 2013 2012
Half yearQ2
Part of result from subsidiaries before tax
-SpareBank 1 Forsikring AS 137.0 141.8 284.4 235.8
-SpareBank 1 Skadeforsikring Group 173.6 70.4 438.4 235.9
ODIN F lt i AS 7 7 1 5 16 2 2 0-ODIN Forvaltning AS 7.7 -1.5 16.2 -2.0
-SpareBank 1 Markets AS -10.0 -44.9 -34.8 -89.7
-SpareBank 1 Medlemskort AS 1.9 2.4 5.7 5.2
-SpareBank 1 Gruppen Finans AS 5.0 0.5 8.7 2.6
-Conecto AS -5.1 7.0 -5.7 11.6
-Correction Group 4.6 -9.0 4.6 -9.0
Total operating costs (parent company) -5.1 -26.1 -28.1 -59.6
Net investment charges (parent company) -15.5 -17.7 -34.9 -34.5g (p p y)
Amortisation and write-down -123.9 0.0 -123.9 0.0
Pre-tax result 170.2 122.9 530.5 296.4
Taxes -83.1 -59.5 -128.4 -33.1
Net result for the period 87 1 63 4 402 1 263 3
*)
Net result for the period 87.1 63.4 402.1 263.3
*) The value of the shares in SpareBank 1 Markets AS was written down by NOK 122 million in Q2
20

21. SpareBank 1 Gruppen
Key figuresKey figures
Q2 Q1 Q4 Q3 Q2 Q1 Year
2013 2013 2012 2012 2012 2012 2012
GroupGroup
Net result for the period (MNOK) 87.1 315.0 -47.6 227.7 63.4 199.9 443.4
Annualised return on equity (%) 15.6 % 23.1 % 8.7 % 12.7 % 10.5 % 15.9 % 8.7 %
Capital adequacy ratio, accumulated (%) 14.6 % 14.0 % 14.6 % 16.7 % 15.9 % 14.8 % 14.6 %
Core capital adequacy ratio, accumulated (%) 13.1 % 12.6 % 13.1 % 15.3 % 14.5 % 13.1 % 13.1 %
SB1 Forsikring
Risk result (MNOK) 104 3 80 7 89 8 79 7 92 6 29 4 291 5Risk result (MNOK) 104.3 80.7 89.8 79.7 92.6 29.4 291.5
Administration result (MNOK) -10.9 -0.2 -26.7 -3.1 -19.0 -7.5 -56.2
Investment result (MNOK) 38.1 166.3 51.2 97.3 47.0 73.2 268.8
Net result for the period (MNOK) 93.4 136.4 -154.4 128.7 89.1 125.8 189.2
Buffer capital in % of insurance provisions*, accumulated (%) 15.5 % 14.8 % 13.6 % 16.3 % 14.8 % 12.8 % 13.6 %
Capital adequacy ratio, accumulated (%) 17.6 % 18.0 % 18.5 % 19.0 % 20.0 % 17.5 % 18.5 %
Securities adjustment reserve, accumulated (MNOK) 718.5 701.1 590.0 555.5 389.6 465.9 590.0
SB1 Skadeforsikring Group
Operating result before finance (MNOK) 98.1 91.7 25.8 24.9 31.1 -19.5 62.4
Net financial income (MNOK) 70.7 170.1 119.8 172.8 51.0 194.0 537.6
Net result for the period (MNOK) 115.9 219.4 151.8 142.6 42.2 139.5 476.1
Claims ratio, net (%) 73.4 % 73.3 % 69.1 % 81.4 % 78.0 % 84.9 % 78.3 %
Cost ratio, net (%) 18.9 % 18.3 % 24.4 % 20.2 % 18.5 % 16.7 % 20.0 %
Combined ratio net (%) 92 3 % 91 7 % 93 4 % 101 5 % 96 5 % 101 6 % 98 2 %Combined ratio, net (%) 92.3 % 91.7 % 93.4 % 101.5 % 96.5 % 101.6 % 98.2 %
Portfolio (MNOK) 5,308 5,325 5,446 5,455 5,407 5,328 5,446
ODIN Forvaltning
Management fees (MNOK) 69.2 66.7 62.5 64.0 63.4 67.2 257.1
Net result for the period (MNOK) 5.6 6.1 -18.6 1.4 -1.0 -0.3 -18.5
Total assets under management, accumulated (MNOK) 27,318 27,741 24,803 24,370 23,541 26,173 24,803
M k t h it f d l t d (%) 8 1 % 8 4 % 8 2 % 8 3 % 8 4 % 8 9 % 8 2 %Market share equity fund, accumulated (%) 8.1 % 8.4 % 8.2 % 8.3 % 8.4 % 8.9 % 8.2 %
Market share combination fund, accumulated (%) 5.0 % 4.8 % 4.4 % 4.0 % 4.1 % 3.8 % 4.4 %
SB1 Markets
Total operating income (MNOK) 61.3 45.9 50.1 26.6 40.0 32.9 149.6
Net result for the period (MNOK) -7.2 -17.8 -12.7 -46.6 -32.6 -32.5 -124.4
21
Receivables management
Net result for the period (MNOK) -1.0 2.9 6.1 3.4 6.0 5.5 21.0
*) Buffer capital as at Q4 is shown after profits have been allocated

22. SpareBank 1 Gruppen
Quarterly resultsQuarterly results
Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2
Figures in MNOK 2013 2013 2012 2012 2012 2012 2011 2011 2011 2011 2010 2010 2010
Part of result from subsidiaries before tax
- SpareBank 1 Forsikring 137.0 147.4 99.0 144.6 141.8 94.1 98.1 77.7 109.0 129.4 72.5 85.8 100.3
- SpareBank 1 Skadeforsikring Group 173.6 264.8 197.9 185.0 70.4 165.5 167.6 -88.8 56.2 50.3 307.5 253.9 43.4
- ODIN Forvaltning 7.7 8.4 -20.3 1.9 -1.5 -0.5 -8.5 6.3 12.2 11.9 16.5 17.0 16.7
- SpareBank 1 Markets -10.0 -24.8 -14.6 -64.2 -44.9 -44.8 -77.5 -51.8 -22.1 -3.4 -24.0 -29.0 -1.9
- SpareBank 1 Medlemskort 1.9 3.7 2.4 2.8 2.4 2.8 4.5 2.0 2.5 3.1 1.9 2.7 3.3
- SpareBank 1 Gruppen Finans Group -0.1 3.1 7.2 3.8 7.5 6.8 5.9 12.2 3.0 6.8 6.6 -4.9 7.0
- Correction Group 4.6 0.0 -0.4 1.0 -9.0 0.0 -1.9 16.4 15.1 -0.9 -6.3 -7.4 16.3
Net result before tax from subsidiaries 314.7 402.7 271.1 274.9 166.6 223.8 188.1 -26.1 175.9 197.1 374.6 318.1 185.1
Total operating costs (parent company) -5.1 -23.0 -18.4 2.9 -26.1 -33.5 -29.4 -16.0 -15.6 -27.7 -16.5 40.7 -11.9
N t i t t h ( t ) 15 5 19 4 18 6 21 6 17 7 16 8 19 2 18 0 15 0 7 1 15 6 11 4 9 3Net investment charges (parent company) -15.5 -19.4 -18.6 -21.6 -17.7 -16.8 -19.2 -18.0 -15.0 -7.1 -15.6 -11.4 -9.3
Amortisation and write-down -123.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pre-tax result 170.2 360.3 234.0 256.2 122.9 173.5 139.6 -60.1 145.4 162.4 342.5 347.4 163.9
Taxes -83.1 -45.3 -281.6 -28.5 -59.5 26.4 141.4 55.8 -48.1 -10.5 -18.5 -88.4 -8.3
Net result for the period 87.1 315.0 -47.6 227.7 63.4 199.9 281.0 -4.3 97.2 151.9 324.0 259.1 155.6
Majority interest 87.2 315.5 -47.3 228.8 64.2 200.7 282.6 -3.1 98.0 152.4 327.9 263.9 155.9
Minority interest -0 1 -0 4 -0 3 -1 1 -0 8 -0 8 -1 6 -1 1 -0 8 -0 5 -3 9 -4 8 -0 3Minority interest 0.1 0.4 0.3 1.1 0.8 0.8 1.6 1.1 0.8 0.5 3.9 4.8 0.3
22

23. SpareBank 1 Forsikring AS (life insurance business)
Results for 1st half-year 2013Results for 1st half-year 2013
Q2 Q1 Q2 Year
Figures in MNOK 2013 2013 2012 2013 2012 2012
Half year
g
Insurance risk income 453.1 430.1 369.1 883.2 730.3 1,613.3
Insurance risk claims -343.6 -334.4 -266.2 -678.0 -606.6 -1,303.3
Risk result 109.5 95.7 102.9 205.2 123.6 310.0
Tecnical allocations -5.1 -15.0 -10.3 -20.2 -1.6 -18.5
Risk result after tecnical allocations 104.3 80.7 92.6 185.0 122.0 291.5
Reserves -7.4 -10.4 0.0 -17.8 0.0 -50.6
Risk result after tecnical allocations and reserves 96.9 70.3 92.6 167.2 122.0 240.9
Fees 203.7 196.9 180.9 400.5 365.7 747.1
Expenses, exclusive comissions -146.0 -130.3 -137.4 -276.3 -265.9 -541.3
Comissions -68.6 -66.8 -62.5 -135.4 -126.2 -262.1
Administration result 10 9 0 2 19 0 11 2 26 4 56 2Administration result -10.9 -0.2 -19.0 -11.2 -26.4 -56.2
Net investment income 154.3 276.5 153.1 430.8 341.7 732.3
Guaranteed interest to policyholders -116.2 -110.2 -106.1 -226.3 -221.5 -463.6
Investment result 38.1 166.3 47.0 204.5 120.2 268.8
Reserves -2.8 -66.6 -10.3 -69.3 -41.6 -94.7
Investment result after reserves 35.4 99.7 36.7 135.1 78.6 174.1Investment result after reserves 35.4 99.7 36.7 135.1 78.6 174.1
Compensation guaranteed interest 4.5 4.1 6.1 8.6 12.4 25.9
Result before additional provisions 125.9 173.9 116.6 299.8 186.6 384.7
Undistributed profits to customers -9.7 -63.3 -27.7 -72.9 -42.9 -86.8
Return on company's assets 20.8 36.8 52.9 57.6 92.1 181.5
Net profit to owner before tax 137.0 147.4 141.8 284.4 235.8 479.4
Taxes -43.6 -11.1 -52.6 -54.7 -20.9 -290.2
Net profit/loss for the period 93.4 136.4 89.1 229.8 214.9 189.2
Key figures Half year Year
2013 2012 2012
23
2013 2012 2012
Capital adequacy ratio 17.6 % 20.0 % 18.5 %
Buffer capital in % of insurance provisions 15.5 % 14.8 % 13.6 %

24. SpareBank 1 Forsikring AS (life insurance business)
Results per portfolio for 1st half-year 2013Results per portfolio for 1st half-year 2013
Previously
Figures in MNOK
Group
portfolio
Previously
established
individual products
Investment choice
portfolio
Company
portfolio Total
Risk result 190.4 -0.7 -4.6 0.0 185.0
Administration result 18.7 -13.4 -16.5 0.0 -11.2
Net investment result 140 9 59 0 3 4 1 2 204 5Net investment result 140.9 59.0 3.4 1.2 204.5
Reserves - long life -87.2 0.0 0.0 0.0 -87.2
Compensation interest guarantee 8.6 0.0 0.0 0.0 8.6
Transferred to policyholders -27.5 -44.9 -0.5 0.0 -72.9
Return on company's assets 0.0 0.0 0.0 57.6 57.6
Sum 243.9 0.0 -18.3 58.8 284.4
24

25. SpareBank 1 Forsikring AS (life insurance business)
Development of premium incomeDevelopment of premium income
Q2 Q1 Q2 Year
Figures in MNOK 2013 2013 2012 2013 2012 2012
Half year
Individual annuity and pension insurance 81.4 79.8 72.3 161.2 144.6 325.3
Individual endowment insurance 159.8 155.6 150.2 315.4 298.1 607.7
Group pension insurance 73.7 295.0 74.4 368.7 318.7 528.9
Individual life insurance 59.7 57.6 55.1 117.3 108.9 223.0
Group life insurance 151.0 265.6 132.2 416.7 371.3 632.5
Unit Linked - Annuity 3.0 8.6 8.5 11.6 17.9 34.4
Unit Linked - Endowment 16.8 33.2 35.2 50.0 71.9 134.7
Defined contribution pension 301.9 296.0 273.1 597.8 538.2 1 123.8
Total gross due premium income 847.3 1 191.3 801.1 2 038.6 1 869.6 3 610.2
Premium reserves transferred from other companies 202.4 98.7 194.7 301.1 297.0 575.2
Reinsurance ceded -46.0 -47.5 -41.2 -93.5 -69.8 -154.5
Premium income for own account 1 003.7 1 242.6 954.5 2 246.3 2 096.8 4 030.8
25

26. SpareBank 1 Forsikring AS (life insurance business)
Return on customer portfolios with a guarantee as atReturn on customer portfolios with a guarantee as at
30/06/2013
Value-adjusted return
excl. change in value construction:
Booked return:
3.4
2.8
Q1
2013
Q2
2013
Q1
2013
Q2
2013
Q1
2013
Q2
2013
Q1
2013
Q2
2013
2.6
2 0
2.1
Q1
2013
Q2
2013
Q1
2013
Q2
2013
Q1
2013
Q2
2013
Q1
2013
Q2
2013
2.3
1.3 1.4
1.6
1.9
2.4
2.8
Percent
1.6
0.9
1.1
1.4
1.9
2.0
Percent
SpareBank 1 Storebrand DNB Nordea SpareBank 1 Storebrand DNB Nordea
26
Source: company presentations

27. SpareBank 1 Forsikring AS (life insurance business)
Return on ordinary customer portfolio with guarantee asReturn on ordinary customer portfolio with guarantee as
at 30/06/2013
5.7Norwegian shares
Percent
1 4
13.4
Money market
Foreign shares
2.4
1.4
Norwegian bonds
Money market
2.5
-1.6
Held to maturity
Foreign bonds
3.4Real estate
27

28. SpareBank 1 Forsikring AS (life insurance business)
Balance sheet as of 30/06/2013Balance sheet as of 30/06/2013
YearHalf year Year
Figures in MNOK 2013 2012 2012
Intangible assets 190 134 165
Investments 3 352 2 851 3 140
Reinsurance's part of insurance obligations 237 207 213
Accounts receivable 106 90 105
Half year
Accounts receivable 106 90 105
Other assets 154 276 128
Prepayed liabilities and accrued income 0 0 6
Investments group portfolio 17 849 16 581 17 062
Investments options portfolio 9 335 7 451 8 239
T l 31 223 27 589 29 059Total assets 31 223 27 589 29 059
Paid in capital 2 073 2 073 2 073
Other equity 658 643 428
Subordinated loan capital 200 200 200
Insurance obligations - contractual 17 621 16 401 16 953
Insurance obligations - investment options 9 474 7 557 8 347
Provisions for obligations 471 73 275
Premium deposits from reinsurance companies 141 139 139
Other obligations 475 437 553
Accrued liabilities, prepaied income 110 67 90
Total liabilities and equity 31 223 27 589 29 059
28

29. Asset allocation per portfolio as of 30/06/2013p p f f 3 / / 3
(31/12/2012)
SB1 Skadeforsikring
konsern
SB1 Forsikring AS
G f liI h f l Group portfolio Company portfolio
9.0 (8.2) %
11 1 (11 0) %
10.6 (10.1) %
41.8 (39.2) %
13.2 (12.6) %
0.3 (0.7) %
0.1 (0.2) %
18 2 (18 4) %
Investment choice portfolio
11.1 (11.0) %( ) 18.2 (18.4) %
45.7 (46.3) %
69.3 (70.7) %
26.1 (27.8) %
18.7 (19.6) % 67.4 (65.7) %
14.2 (15.8) %
53.8 (53.2) %
0.5 (0.4) %
Stocks Other
Stocks
Real estate
NOK 17 6 (16 9) billion NOK 3 3 (3 1) billion NOK 10 9 (11 0) billionNOK 9 3 (8 2) billion
Stocks Other Bonds
Other
Real estate
Bonds - amortized cost
Bonds - market value
Real estate
Bonds - amortized cost
Bonds - market value
Real estate
Bonds - amortized cost
Bonds - market value
29
NOK 17.6 (16.9) billion NOK 3.3 (3.1) billion NOK 10.9 (11.0) billionNOK 9.3 (8.2) billion

30. SpareBank 1 Skadeforsikring Group
Results for 1st half-year 2013Results for 1st half-year 2013
Q2 Q1 Q2 YearHalf yearQ2 Q1 Q2 Year
Figures in MNOK 2013 2013 2012 2013 2012 2012
Gross written premium 1 370.8 1 612.9 1 431.1 2 983.7 3 144.2 5 600.4
Net earned premium 1 174.0 1 193.1 1 257.3 2 367.2 2 491.8 5 073.1
Net incurred claims -862.0 -875.0 -982.7 -1 737.0 -2 026.4 -3 968.1
Net insurance operating costs -221.4 -218.7 -230.0 -440.0 -441.0 -1 015.7
Half year
Other insurance income/costs 6.7 5.2 1.7 11.9 2.9 14.3
Changes in other technical reserves 0.7 -13.0 -15.1 -12.2 -15.6 -41.2
Operating result before finance 98.1 91.7 31.1 189.9 11.6 62.4
Net financial income 70.7 170.1 51.0 240.7 244.9 537.6
Other costs 0.0 0.0 0.0 0.0 0.0 -0.1
R lt b f h i it 168 8 261 8 82 1 430 6 256 6 599 9Result before changes in security reserve 168.8 261.8 82.1 430.6 256.6 599.9
Changes in security reserve 4.8 3.0 -11.7 7.8 -20.7 19.0
Pre-tax profit 173.6 264.8 70.4 438.4 235.9 618.9
Taxes -57.7 -45.4 -28.2 -103.1 -54.2 -142.7
Net profit/loss for the period 115.9 219.4 42.2 335.3 181.7 476.1
Key figures Q2 Q1 Q2 Year
Figures in percentage 2013 2013 2012 2013 2012 2012
Claims ratio, net 73.4 % 73.3 % 78.2 % 73.4 % 81.3 % 78.2 %
Cost ratio, net 18.9 % 18.3 % 18.3 % 18.6 % 17.7 % 20.0 %
Half year
,
Combined ratio, net 92.3 % 91.7 % 96.5 % 92.0 % 99.0 % 98.2 %
Capital adequacy ratio 36.7 % 34.1 % 33.7 %
30

31. ODIN Forvaltning
Results for 1st half-year 2013Results for 1st half-year 2013
Q2 Q1 Q2 Year
Figures in MNOK 2013 2013 2012 2013 2012 2012
Half year
Figures in MNOK 2013 2013 2012 2013 2012 2012
Management fees 69.2 66.7 63.4 135.9 130.6 257.1
Total operating income 69.2 66.7 63.4 135.9 130.6 257.1
Salaries -29.2 -23.7 -25.9 -52.9 -50.5 -110.1
Depreciations -6.3 -6.4 -6.8 -12.7 -13.3 -26.0
Other operating costs -26 3 -28 4 -32 5 -54 7 -69 4 -130 5Other operating costs -26.3 -28.4 -32.5 -54.7 -69.4 -130.5
Total operating costs -61.8 -58.5 -65.2 -120.3 -133.2 -266.6
Operating profit 7.4 8.2 -1.8 15.5 -2.6 -9.6
Net financial income 0.4 0.3 0.4 0.6 0.7 -10.8
Pre-tax profit 7.7 8.4 -1.5 16.2 -2.0 -20.4
Taxes 2 1 2 3 0 5 4 4 0 6 1 9Taxes -2.1 -2.3 0.5 -4.4 0.6 1.9
Net profit/loss for the period 5.6 6.1 -1.0 11.8 -1.3 -18.5
31