DEPFA Group. Annual Results 2014 Presentation. 1st April 2015 AUDITED FIGURES

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1 DEPFA Group Annual Results 04 Presentation st April 05 AUDITED FIGURES

2 Disclaimer Annual Results 04 st April 05 This presentation is not an offer or invitation to subscribe for or purchase any securities. No warranty is given as to the accuracy or completeness of the information in this presentation. You must make your own independent investigation and appraisal of the business and financial condition of DEPFA BANK plc (DEPFA), its direct and indirect subsidiaries and its securities. Nothing in this presentation shall form the basis of any contract or commitment whatsoever. For the purpose of this presentation DEPFA Group means DEPFA BANK plc together with its subsidiary undertakings. This presentation may only be made available, distributed or passed on to persons in the United Kingdom in circumstances in which section () of the Financial Services and Markets Act 000 does not apply. This presentation and any written materials distributed during such presentation may only be made available to persons residing in the U.S. and to U.S. citizens if they are qualified institutional buyers, as such term is defined in Rule 44A under the U.S. Securities Act of 9, as amended ("QIBs"). By participating in the presentation and accepting this document, you are deemed to represent that you are a QIB. This presentation may only be made available, distributed or passed on to persons in Australia who qualify as 'wholesale clients' as defined in section 7G of the Australian Corporations Act. This presentation is furnished to you solely for your information. You may not reproduce it or redistribute to any other person. This document may contain forward-looking statements based on calculations, estimates and assumptions made by senior management of DEPFA and external advisors and are believed warranted. These statements may be identified by such words as may, plans, expects, believes and similar expressions, or by their context and are made on the basis of current knowledge and assumptions. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. Such factors include general economic conditions, the conditions of the financial markets in Germany, in Ireland, in Europe, in the United States and elsewhere, the performance of DEPFA s core markets and changes in laws and regulations. No obligation is assumed to update any forward-looking statements. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the noted limitations.

3 Income Statement Annual Results 04 st April 05 Income Statement (IFRS) EUR millions FY 0 FY 0 FY 0 Q 04 Q 04 Q 04 Q4 04 FY 04 Operating revenues Net interest and similar income Net commission income Net trading income Net income from financial investments Net income from hedge relationships Balance of other operating income/expenses Provisions for losses on loans and advances General administrative expenses Balance of other income/expenses Pre-tax profit/loss Taxes on Income Net profit/loss Net interest and similar income in 04 includes EUR -m loss on a loan termination with a HRE Group affiliate company and EURm gain on buy-backs of debt instruments (0: EUR 98m). Net trading income in 04 includes EUR -m derivative valuation effects from counterparty risk parameters including DEPFA Group s own credit risk (DVA/ CVA) (0 : EUR -m). The contract to service FMS-WM expired on 0 th September 0 4. In line with EU Commission Decision July 0, Annual State Aid Compensation for 0 amounted to EUR m (0: EUR 59m)

4 Balance Sheet Annual Results 04 st April 05 Total assets (IFRS) EUR billions Total liabilities and equity (IFRS) EUR billions 0 0 Trading Assets Trading Liabilities Loans & Advances Financial Investments Other Assets 7 7 Loans and Advances Other Debt Securities Lettres de Gage ACS Other Liabilities 59 7 Equity //0 //0 4 4 //0 //04 //0 //0 //0 //04 Total counter-effects resulting from the asset transfer to FMS-WM //0: EUR 9bn //0: EUR 7bn //0: EUR 5bn //04: EUR bn 4. Net of allowances for losses on loans and advances. Cash reserve, other assets (especially positive market values of hedging derivatives), income tax assets. Provisions, other liabilities (especially negative market values of hedging derivatives), income tax liabilities, subordinated capital 4. // amount re-stated to reflect the deconsolidation of DEPFA Finance NV under IFRS 0. DEPFA Finance NV was acquired by DEPFA in July and is reconsolidated as at 0 th September 04

5 Capitalisation Annual Results 04 st April 05 RWA/Tier I ratio EUR billions Basel II Standardised Reporting % CRD IV 7.% 5.7% 5.% 8.% 7.% Tier I ratio Market risk Operational risk Credit risk Standardised Approach //0 //0 //0 /0/04 /0/04 0/09/04 //04 Tier I capital EUR billions Hybrid Capital Core / Common Equity Tier I Capital (CET) //0 //0 //0 /0/04 0/0/04 0/09/04 //04 5. Includes the Annual State Aid Compensation payment of EUR million for 0 (0: EUR 59m) accounted for directly through equity. Regulatory CVA under CRD IV is included in Credit Risk; this along with the application of IFRS 0, resulting in the deconsolidation of DEPFA Finance NV, led to an increase in Risk Weighted Assets in Q 04. The reconsolidation of DEPFA Finance NV into DEPFA Group in July 04 resulted in a decrease in RWA as at 0 th Sept 04

6 Balance Sheet and Capital Annual Results 04 st April 05 Pro-forma st Jan 04 0 th Sept 04 st Dec 04 Balance Sheet Total Assets (EUR billion) IFRS Leverage Exposure (EUR billion) ) N/a Leverage Ratio (Transitional Ratio %) ) N/a.99%. Leverage Ratio (Fully loaded %) N/a.0.% Capital Fully Loaded CET Ratio % N/a 4.9% 4.9% Fully loaded CET Capital (EUR billion) N/a Transitional Rules CET Capital Ratio % 0.% 5.% 5.4 Transitional Rules CET Capital (EUR billion) Risk Weighted Assets (EUR billion) ) ) Under the Leverage Exposure calculation additional netting of derivatives exposures is permitted compared to the IFRS balance sheet derivative exposure. Leverage Exposure is described in detail in Section 4 of DEPFA Group Pillar Disclosure Report at December 04 ) The Leverage Ratio to be disclosed from st January 05 with migration to Pillar treatment on 8 th January 08. The Transitional Ratio as at st December 04 includes hybrid capital which will be grandfathered to 0, subject to ratification by the European Commission ) The movement in RWA is attributable to rating downgrades, increased exposures to institutions, increased regulatory CVA (RWA equivalent) partially offset by scheduled maturities

7 Total Core Portfolio (Excluding FMS-WM pass-through effects) Annual Results 04 st April 05 Exposure by region EUR billions (EaD), //0 Total: EUR 5.7bn //04 Total: EUR 0.4bn Germany US Spain Belgium France Italy Other Europe Netherlands Other RoW Austria Ireland 4 Scandinavia UK Japan Emerging Market //0 //04 Scandi % Ireland 4 % Austria Other RoW Holland Other Europe % Italy % UK % France % Japan % Belgium % EM % Spain Germany US 9% Scandi % Ireland 4 % Austria 5% Other RoW 5% Holland Other Europe % Italy % France UK % Belgium Japan EM % % Spain 9% Germany % US % 7. Excluding counter-effects resulting from the asset transfer to FMS-WM. Including intra-group exposure. The EaD amounts presented are based on the CRD IV definition of EaD and December 0 amounts are restated accordingly. Previous reports presented EaD under the Basel II definition 4. Includes Money Market activity with the Central Bank of Ireland

8 Total Core Portfolio (Excluding FMS-WM pass-through effects) Annual Results 04 st April 05 Exposure by borrower classification EUR billions (EaD), //0 Total: EUR 5.7bn //04 Total: EUR 0.4bn Sovereign Sovereign (Indirect) PSE PSE (Indirect) Reg Govt Reg Govt (Indirect) Financial Institution Structured Finance Supranational Corporation //0 Other % Supra % Structured Finance Sovereign % Sov (indirect) //04 Structured Finance Supra Other % Sovereign 9% Sov (indirect) Financials 9% Financials % Reg Govt (Indirect) 9% PSE % Reg Govt (Indirect) 7% PSE Reg Govt PSE (Indirect) Reg Govt % PSE (Indirec t ) % 8. Excluding counter-effects resulting from the asset transfer to FMS-WM. Including intra-group exposure. The EaD amounts presented are based on the CRD IV definition of EaD and the December 0 amounts are restated accordingly. Previous reports presented EaD under the Basel II definition

9 Total Core Portfolio (Excluding FMS-WM pass through effects) Annual Results 04 st April 05 Exposure by Internal Ratings EUR billions (EaD),, //0 Total: EUR 5.7bn //04 Total: EUR 0.4bn AAA AA+ AA AA- A+ A A- BBB+ BBB BBB- Sub Investment Grade //0 BBB+ A- % A % BBB BBB- 7% Sub Investment Grade % AAA 9% //04 A- A % A+ BBB+ BBB % BBB- % Sub Investment Grade % AAA 40% A+ 9% AA- 5% AA 5% AA+ % AA- AA 5% AA+ 0% 9. Excluding counter-effects resulting from the asset transfer to FMS-WM. Including intra-group exposure. The EaD amounts presented are based on the CRD IV definition of EaD and the December 0 amounts are restated accordingly. Previous reports presented EaD under the Basel II definition 4. Internal ratings mapped to Standard & Poor s scale

10 Total Problem Loans Annual Results 04 st April 05 Problem loans (including derivatives) EUR millions (EaD), 9 Number of Counterparties Workout Restructuring The number of problem loans have remained at a low level since 00. The increase in December 04 versus December 0 is as result of FX movements Apart from problem loans, all portfolio exposures have matured on due dates since 00 and there have been no loan extensions outside of original contractual commitments No new problem loans (including derivatives) since the transfer of assets to FMS-WM in 00 Problem loans (including derivatives) have adequate provisions in place to compensate for potential losses December //00 December //00 December //00 //04 Q Excluding counter-effects resulting from the asset transfer to FMS-WM. Excluding exposures guaranteed by FMS-WM. No signs that the deal will recover soon, compulsory measures necessary 4. Payments more than 90 days overdue or criteria according to respective policy apply

11 Contact Details Annual Results 04, st April 05 FMS Wertmanagement Head of Communications Andreas Henry DEPFA Group Communications Rachel Martin DEPFA Investor Relations Karen Conway DEPFA BANK plc Commons Street Dublin, Ireland

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