Presentation. Oslo. September 6 th Frode Lindbeck

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1 Presentation Oslo. September 6 th 2010

2 Sparebanken Øst Established in 1843 Head office in Drammen with 22 branches Total assets of 23.6 bill. kroner Moody's rating: A3/P-2 (negative outlook) First Savings Bank listed on Oslo Stock Exchange (1988) Tckr: "SPOG" Very strong franchise in Eiker and Drammen AS Financiering (Finance comp.) Sparebanken Øst Sparebanken Øst Boligkreditt AS (Covered Bonds) Eksportfinans ASA (4.84%) Sparebanken Øst Norne Securities (10.12%) Frende Holding (14.84%) Sparebanken Øst Eiendom AS (Real Estate)

3 Key Financial Targets / Performance Target 2009 Q210 Pre-tax profit (MNOK) Net interest income 2.05 % 1.90 % After tax ROE: 11 % % % CAR: 13 % % % Core capital: 11 % % % Max loss on credit: 0.4 % 0.17 % % Liquidity ratio: 105 % % %

4 Market area Home Turf Niche National (internet)

5 Business Model Market Approach National Market Norway Self-service - Industrialized products Selected customers Niche Market The Oslo region Selected products Selected customers Home Turf Drammen. Nedre Eiker og Øvre Eiker All products All customer segments (Excluding large corporates)

6 Business Model - Products Loans and guarantees Deposits and fund products Cards and payment transfers Insurance (Life and non-life)

7 National Market DinBANK.no

8 Niche Market Youngbank.no

9 Organizational Structure General assembly 48 members Control committee External Auditor E&Y Board Internal Auditor - KPMG Audit committee CEO Mortgage- and Corporate Clients Deputy CEO Finance and Accounting Deputy CEO Law and HR Chief Attorney Mortgage loans Funding Law Corporate loans Asset Management Documentation Cards and payments Accounting and settlement HR IT Resource Centre

10 SPOG Equity Certificate Sparebanken Øst has created value for investors since including the bank crisis early 90's and the financial crisis % yield (geometric mean ) High cash dividend paid every year (only exception is 2008) Dividend policy is to pay % of Equity Certificate holders' share of year end results in cash dividend

SPOG Statistics Last price NOK Traded volume (1000) Price / volume SPOG 60 3500 50 3000 2500 40 2000 30 1500 20 1000 10 500 0 jun. 08 jun. 09 jun.

11 SPOG Statistics Last price NOK Traded volume (1000) Price / volume SPOG jun. 08 jun. 09 jun. 10 Traded volume (1000) Last price NOK 0 Q2/ After-tax earnings per certificate (group) Equity Certificates (mill.) EC ratio 49.05% 49.63% 33.39% 34.87% 37.21% 41.37% Book value of equity per certificate Annual turnover ratio 51.48% % 8.21% 12.57% 17.71% 19.68%

12 SPOG, MING, ROGG, OSEBX

13 Sector structure Norway 2009 Source: Norw. Savings Bank Ass. / VPS

14 Loans to customers by sector Primary 1,0 % Industry 0,8 % Build/Constr. 3,1 % Private 75,1 % Trade/hotel 3 % Transp./comm. 0,6 % Real estate 13,1 % Fin. Services 1,4 % Abroad 0,2 % Services 1,9 %

15 Real estate survey Geography and risk class. (Customer location). County A B C D E U Total Oslo Akershus Buskerud Rogaland Vestfold Østfold Telemark Total Size distribution. Accounts Share No mill % mill % mill % 8 Above 50 mill % 8 Total % 254 Commercial and housing. A B C D E U Total Commercial Housing Total

16 Real estate survey Commercial properties. Type. Commercial A B C D E U Total Offices Shops Storeroom Production facilities Building sites Farms Other Total Commercial properties. Sale/rental. Offices Shops Production Storeroom Farms Land Other Total Rental Development and sale Total Commercial. Rental. Vacancy rate. Offices Shops Production Storeroom Farms Land Other Total Rental Vacancy rate 6 % 3 % 1 % 4 % 0 % 0 % 0 % 4 % Commercial. Sale. Pre-sold. Offices Shops Production Storeroom Farms Land Other Total Development and sale Pre-sold Pre-sold in % 80 % 0 % 0 % 0 % 0 % 0 % 0 % 2 %

17 Real estate survey Housing. Type. A B C D E U Total Houses Apartments Lodgings Holiday houses Building sites Total Housing. Sale or rental Houses Apartments Lodgings Holiday houses Land Total Rental Sale Total Housing. Rental. Vacancy rate. Houses Apartments Lodgings Holiday house Land Total Rental Vacancy rate 0 % 4 % 0 % 27 % 0 % 4 % Housing. Sale. Pre-sold. Houses Apartments Lodgings Holiday house Land Total Development and sale Pre-sold Pre-sold % 24 % 32 % 0 % 0 % 0 % 22 %

18 Maturity structure funding Mrd. NOK Bill. NOK Q ,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0, ,0 3,0 2,0 Q ,0 0, Senior bonds Credit inst. Gov. (CB swap) Central Bank Subordinated loans Covered bonds CP's

19 Profit & Loss Account MNOK Net interest income % 2.09% Dividend income % 0.01% Commissions and fees receivable etc % 0.34% Commissions and fees payable etc % 0.10% Value changes financial instruments % 0.28% Other operating income % 0.07% Salaries and other personnel costs % 0.94% Other operating costs % 0.28% PROFIT BEFORE LOSSES % 1.47% Losses on loans and guarantees (2.7) (0.02%) 0.02% PRE-TAX PROFIT % 1.45% Tax costs % 0.40% PROFIT FOR THE YEAR % 1.05%

20 Consolidated Balance Sheet ASSETS (MNOK) Chg.% Cash and deposits with central banks % Treasury bills % Loans and receivables from credit inst % Loans and receivables from customers % Commercial papers and bonds % Shareholdings % Fixed assets % Other assets % Prepayments and accrued income % TOTAL ASSETS %

21 Consolidated Balance Sheet LIABILITIES AND EQUITY (MNOK) Endr.% Loans and deposits from credit inst % Deposits from customers % Liabilities to the state (Cov. bonds swap) % Debt securities issued % Other liabilities % Accruals and deferred income % Provisions % Subordinate loan capital % Total liabilities % Invested equity % Accrued equity % YTD result % Total equity % TOTAL LIABILITIES AND EQUITY %

22 Sparebanken Øst Phone: P.o.box 54 Fax: Drammen Norway CEO Trond Tostrup CFO Kjell Engen

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165 REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties