Stock and press releases

In the second quarter of 2013, the DNB Group will record a negative effect of basis swaps connected to funding of NOK 89 million.

For the full year 2012 and the first quarter of 2013, there were negative effects of basis swaps of approximately NOK 1687 million and NOK 233 million, respectively. Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect. Over time, the accounting effects will thus be reversed.

Contact persons, Investor Relations:
Per Sagbakken: +47 23268400
Jan Erik Gjerland: +47 23268408

DNB Bank ASA is currently considering issuing a new Tier 2 bond of minimum NOK 1 billion.

The bond will have a maturity of 10 years and be callable after 5 years (5+5). The bond issue was authorised by the Board of Directors of DNB Bank ASA on 21 December 2012. The approval and accompanying guidelines related to the issue were given in a letter from the Financial Supervisory Authority of Norway (Finanstilsynet) on 20 December 2012.

Arranger: DNB Markets.

Contacts at DNB Bank ASA:
Thor Tellefsen, head of Long-term Funding, tel: +47915 44 385

The Annual General Meeting in DNB ASA was held on 30 April 2013 in Oslo.

The General Meeting endorsed the Election Committee's proposal for the election of twelve members and ten deputies to the Supervisory Board, two members to the Election Committee and four members and two deputies to the Control Committee. The General Meeting also approved the Election Committee's proposal for remuneration rates for the Supervisory Board, Control Committee and Election Committee.

In addition, the Annual General Meeting in DNB ASA approved the Board of Directors' proposal for the 2012 annual report and accounts, including the distribution of a dividend for 2012 of NOK 2.10 per share

to registered shareholders as at 30 April 2013, to be distributed as from 13 May 2012. The shares in DNB ASA will be quoted ex-dividend on 2 May 2013.

The General Meeting authorised the Board of Directors of DNB ASA to acquire own shares for a total face value of up to NOK 732,959,487, corresponding to 4.5 per cent of share capital. The shares may be

purchased through the stock market. Each share may be purchased at a price between NOK 10 and NOK 150. Acquired shares shall be sold in accordance with regulations on the reduction of capital. The authorisation will be valid for a period of 12 months from 30 April 2013.

An agreement has been signed with the Norwegian Ministry of Trade and Industry for the redemption of a proportional share of government holdings to ensure that the government's percentage ownership does not change as a result of the redemption of repurchased shares.

The minutes of the Annual General Meeting will be published on www.dnb.no/agm.

Following the ruling of the Norwegian Supreme Court on 22 March 2013, DNB will make provisions of approximately NOK 450 million in the first quarter of 2013 to cover compensation payments to customers who have made debt-financed investments in certain structured products. The amount represents the estimated total compensation to which the affected customers may be entitled and includes the previously announced amount of NOK 60 million. The provisions will be classified as other expenses.

Fixed-rate loans in DNB are recorded at fair value through profit or loss. There were insignificant effects of mark-to-market adjustments in the first quarter of 2013.

As previously announced, basis swaps will have a negative effect of NOK 233 million in the first quarter of 2013.

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Contact persons in Investor Relations in DNB:
Jan Erik Gjerland, tel. +47 23 26 84 08 or mobile +47 46 930 410
Thor Tellefsen, tel. +47 23 26 84 04 or mobile +47 915 44 385

Shareholders in DNB ASA are invited to attend the Annual General Meeting.

Shareholders in DNB ASA are invited to attend the Annual General Meeting to be held at 3.00 pm on Tuesday, 30 April 2013 at DNB’s premises in Dronning Eufemias gate 30, Bjørvika, Oslo, Norway.
The Notice of Annual General Meeting is attached: The Notice of Annual General Meeting

In the first quarter of 2013, the DNB Group will record a negative effect of basis swaps connected to funding of approximately NOK 233 million.

For the full year 2012, there was a negative effect of basis swaps of approximately NOK 1 687 million.
Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect. Over time, the accounting effects will thus be reversed.

Contact persons, Investor Relations:
Per Sagbakken: +47 23268400
Jan Erik Gjerland: +47 23268408