Core Income up 35% Presentation 5 August Interim Report H Janus Petersen, CEO

A strong and satisfying result in H Good result in line with projections. Strong position for consolidation of the banking sector

Profit driven by growing core earnings Positive core developments in challenging times  Strong interest income, net  Stable fee income  Strong insurance income  Decreasing administrative cost 05 August 20093

Business volumes are stable and loans sufficiently funded Stable developments in challenging times  Stable loans  Stable Deposits and due to creditinst. 05 August 20094

Solid earnings - a result of increased NII Interest Income increased by 2% Interest Expenses decreased by 27% Net Interest Income increased by 33% from the same period last year * Figures are not consolidated nor in accordance with IFRS 05 August 20095

Asset quality - a good platform for further profitable growth in income Corporate loansTotal loans 05 August 20096

The asset quality in the loan book is reflected in the relatively low level of impairments * Figures are not consolidated nor in accordance with IFRS 05 August 20097

Impairment charges on loans and advances Impairment mainly in Corporate Sector  Concentrated in the Fishing, Trade and Hotel and construction sectors 05 August 20098

Keeping cost below 50% of income 05 August 20099

Well positioned for consolidation Limited growth potential in Faroe Islands Opportunities for expansion on the Danish market Applied for Hybrid Core Capital Risk diversification Higher shareholder value 05 August

Core Income up 35% Presentation 5 August Interim Report H Janus Petersen, CEO and Johnny í Grótinum, IR