SpareBank 1 SR-Bank Group Second quarter August 2007

Page 2 High activity through first half of 2007 Successful rights issue. Geographic expansion. New office in Søgne. IRB application approved. Capital Market division established. Increased sale of real estate projects. Purchase of Vågen Eiendomsforvaltning AS. Regional foundations for business development established. SpareBank 1 Boligkreditt AS’ first bond with pre-emptive rights has been ratet Aaa by Moody’s and AAA by Fitch Ratings Ltd. New CEO in EiendomsMegler 1 SR-Eiendom (real estate broker) and in SpareBank 1 SR-Finans. Mandatory occupational pension (OTP) - increased focus on additional RM-sales. The “PRO-school”. Agreement between SpareBank 1 SR-Bank and mobile telephone company Chess.

Page 3 (Year-to-date results. Figures for corresponding period in 2006 are shown in parentheses.) Very strong results with high income growth Group profit before tax: NOK 644 million (NOK 514 million). Return on equity capital after tax: 22.3% (21.2%). Income growth: 18.5% Costs growth: 13.4% Net interest income: NOK 605 million (NOK 547 million). Net commission and other income: NOK 408 million (NOK 333 million). 28,3 % growth in savings capital (beyond ordinary customer deposits). Net return on investment securities: NOK 250 million (NOK 186 million). Growth in loans: 29.5% (13.8%) over last 12 months, which breaks down into 16.1% RM and 58.7% CM. Growth in deposits: 16.8% (12.6%) over last 12 months, which breaks down into 8.1% RM and 24.6% CM. Earnings per primary capital certificate: NOK 11.3 (NOK 9.5).

Page 4 Income statement

Page 5 Key figures

Page 6 Net interest income and margins 1,73 0,67 1,06

Page 7 Change in net interest income

Page 8 Lending growth (12 months) Volume CM: 38,6 % RM: 61,4 % RM-growth and volume includes mortgage loans transferred to SpareBank 1 Boligkreditt AS.

Page 9 Deposits growth (12 months) CM: 56,1 % RM: 43,9 % Volume

Page 10 Savings/placements - portfolio development

Page 11 Net commission and other income

Page 12 Net return on investment securities

Page 13 Other operating income in per cent of total income * Excluding gain/loss on securities trading, dividend and ownership stakes. Financial statements before 2004 are not prepared according to IFRS.

Page 14 Subsidiaries

Page 15 Operating costs

Page 16 Net losses on loans and guarantees

Page 17 Gross non-performing loans

Page 18 Financial targets 1.SR-Bank aims for a return on equity of 15 per cent, or being among the best third of banks with which it is natural to compare onself. 2.The board of directors has decided to change the target for the core capital ratio to a minimum of 7 % and the target for the capital adequacy ratio to a minimum of 11 % awaiting the positive effects of the introduction of Basel II.

Page 19 Retail Market Division The development in the savings/placement area is very good. Good balance sheet growth and continued pressure on margins. The credit card market initiative has been successful. Use of the bank’s electronic services is showing good growth. The fight for market shares in the non-life insurance area is still very strong. To strengthen our consulting competence further the SR Advisor School has been established.

Page 20 Corporate Market Division Favourable development, 40% income growth year to date compared with the first half of Good growth in loans and deposits. Low level of defaults and net recoveries on losses. Close to 400 new customers so far this year. More than 80 % of the customers will recommend the bank. More than 700 of our SME customers now subscribe to the PRO concept. Several thousand customers have participated in a number of customer events so far this year. The competition is strong, but the favourable development is expected to continue.

Page 21 Lending growth, Corporate Market

Page 22 Development Risk Profile EL - Expected Loss

Page 23 Lending by industry ( ) Incl. mortgage loans transferred to SpareBank 1 Boligkreditt AS. Retail customers Other Mining/Extraction Power/Water Supply Industry Real Estate Service Industry Commodity trade/hotels Shipping/Transportation Agriculture/Forestry

Page 24 Capital Market Vågen Eiend. forvaltning Capital Market Markets Savings and placement Corporate Capital management Capital Market Division established March Corporate in progress. Favourable development and high activity in currency, bonds and interest instruments. Income growth year to date is about 40% compared with the first half of Sold and arranged several real estate projects. Granted licence on custodian registration. Purchase of Vågen Eiendomsforvaltning AS. Assisted in arranging/subscription Corrocean/Roxar. High activity and good results within the capital management and investments area.

Page 25 SpareBank 1 SR-Bank has a position well suited to meeting the increased level of competition… The geographic expansion is widening our market area and is increasing our potential growth. Efforts in new business areas are contributing to growth in other operating income and gives us a higher level of diversification. The group’s ability to change presents us with new possibilities regarding innovation. Measures taken to increase our level of expertise and skills as well as new hirings mean that we are able to meet the demands from advanced customers. SpareBank 1 SR-Bank’s current strategic efforts will strengthen our ability to meet increased competition in the future, and increases our earning potential. New business area - Capital Markets - to strengthen the savings and capital markets area.

Page 26 APPENDIX

Page 27 The primary capital certificate - ROGG Trading volume Q2 2007: 5,6 % (7,2 %). Number of ROGG owners : (11.053). Owner shares per : From Rogaland, Agder og Hordaland: 63,0 % (50,8 %). Non-domestic: 8,8 % (18,0 %). 10 largest: 23,4 % (24,9 %). 20 largest: 30,5 % (31,0 %). 0,0 50,0 100,0 150, Rebased ROGGOSEBX

Page 28 Development of share prices savings banks 2007 Source: First Securities Adjusted for dividend (re-invested)

Page 29 Key figures - ROGG

Page 30 Capital adequacy

Page 31 Rating In Q1 07 Moody’s introduced a new rating method for banks. In connection with this the SpareBank 1 SR-Bank rating for long-term bank deposits was raised to Aa3 (stable outlook) from A2 (stable outlook). The short-term rating is still P-1 and Bank Financial Strength Rating (BFSR) is unchanged at C+.

Page 32 Balance sheet

Page 33 SpareBank 1 SR-Bank Established in 1839 Head office in Stavanger 53 offices in South-Western Norway More than 200,000 customers Chairman of the Board: Kristian Eidesvik Chief Executive Officer: Terje Vareberg Chairman Supervisory Board: Svein Kjetil Søyland Chairman Audit Committee: Odd Rune Torstrup External Auditor: PricewaterhouseCoopers

Page 34 EiendomsMegler 1 SR-Eiendom AS 100 % SpareBank 1 SR-Finans AS 100 % SpareBank 1 Gruppen AS 19,5 % ODIN Forvaltning AS SpareBank 1 Livsforsikring AS SpareBank 1 Skadeforsikring AS SpareBank 1 Fondsforsikring AS Bank 1 Oslo AS SpareBank 1 Medlemskort AS First Securities ASA SpareBank 1 Bilplan AS Actor Fordringsforvaltning AS SR-Forvaltning ASA 67 % SR Investering AS 100 % SpareBank 1 Boligkreditt AS 26,4 % Vågen Eiendoms- forvaltning AS 100 % Property management Real-estate agency: - Houses - Business - Projects Market leader in Rogaland Leasing Financing Investment in long-term equity Mortgage company Asset management

Page 35 Localized in Rogaland, Agder and Hordaland Head office in Stavanger 53 branches in Rogaland, Agder and Hordaland

Page 36 SpareBank 1 Alliance Owners Sparebanken Hedmark 12,0 % LO og Fagforbund 10 % Samarbeidende Sparebanker AS 19,5 % SpareBank 1 Nord-Norge 19,5 % SpareBank 1 Midt-Norge 19,5 % SpareBank 1 SR-Bank 19,5 % SpareBank 1 Gruppen AS Bank 1 Oslo AS 100 % SpareBank 1 Livsforsikring AS 100 % SpareBank 1 Fondsforsikring AS 100 % SpareBank 1 Bilplan AS 19,9 % ODIN Forvaltning AS 100 % First Securities ASA 24,5 % EiendomsMegler 1 SpareBank 1 Skadeforsikring AS 100 % SpareBank 1 Medlemskort AS 100 % Actor Fordringsforvaltning AS 90 % New members in 2006: Sparebanken Hedmark Kvinnherad Sparebank Sparebanken Volda Ørsta Sparebanken Hardanger SpareBank 1 Alliance, key figures: Total assets: ca NOK 356 billions No. of own branches: ca 350 Total no. of branches: ca 380 Employees: ca Internet customers: ca Annual report 2006

Page 37 Strategy Through: l A savings bank philosophy with a strong brand and modern bank operations, where value is created locally and further employed in the local community. l Clear prioritization based on customer needs and profitability. l Our market area is primarily Rogaland, Agder and Hordaland. l Clear position in the savings/pension market. l Competent employees who take pride in working for SpareBank 1 SR-Bank. SpareBank 1 SR-Bank shall be a profitable and solid bank that is attractive to customers, capital markets, owners and employees alike.

Page 38 What separates one bank from another? Interest rates, fees and products are often the same. But have you asked your bank what they want? Or what role they want to play? Our answer is simple. The objective of SpareBank 1 SR-Bank is to help create values for the region we are part of, and the only way in which we can do this is through the achievements of our 1,018 employees. It’s a matter of will. will

Page 39 purpose SpareBank 1 SR-Bank will add value to the region in which we take part.

Page 40 Through being/having a long-term perspective open and honest Through showing responsibility and respect will and ability to improve The courage of conviction, the strength to create values