1. Norway Post - Half year report 1 st half-year 2010 27 August 2010

2. 2 Financial highlights  Operating revenues amounted to MNOK 13 374, a reduction of MNOK 421 (3.1 %) compared with the same period last year. The reduction is mainly due to falling volumes in the Mail and Logistics segments and the economic downturn  Operating revenues in the second quarter were MNOK 6 711, a reduction of MNOK 153 (2,2 %) compared with last year. Government procurements for the first half year 2009 were granted and taken to income in the second quarter, while government procurements this year were taken to income in both the first and second quarter  Earnings before non-recurring items and write-downs amounted to MNOK 511, an improvement of MNOK 130 compared with the first half year 2009. The improvement was mainly due to the effects of cost-cutting measures  EBIT before non-recurring items and write downs in the second quarter was MNOK 64 lower than second quarter 2009. Adjusted for the difference in recognising government procurements, the second quarter 2010 was MNOK 66 better than last year  The 12-month return on invested capital before non-recurring items and write-downs (ROIC) was 12.2% compared with 8.0 % in 2009  The efficiency programme ”Spinnaker” was initiated in 2008 and has achieved an accumulated effect of BNOK 1.6 as of 30 June 2010. There is an ongoing effort to adjust costs to a declining activity level in the market  EBIT for the first half year was positively affected by gains on the sale of property and the non-recurring effect from taking MNOK 516 to income in connection with the transition to a new early retirement (AFP) scheme as of 1.1.2011  The preliminary subsequent calculations of government procurements for 2009 shows that Norway Post has been more successful in reducing costs than expected and that the actual need has been reduced from MNOK 518 to MNOK 211. Norway Post is therefore planning to repay MNOK 307. This does not affect the 2010 accounts in any significant way

3. 3 Important events; Merger of EDB Business Partner og ErgoGroup  ErgoGroup AS and EDB Business Partner ASA have entered into a merger agreement to create a leading Nordic IT company with the capacity for increased organic growth and the financial strength to be able to exploit strategic and structural opportunities. The merger plan was approved by the companies’ general meetings on July 8 2010  EDB and ErgoGroup had total revenues in 2009 of BNOK 12.7  After the merger EDB’s shareholders will own 53% of the combined company. Norway Post will own 47 % after the transaction and has committed to reducing its ownership to 40 % over a two-year period  The transaction is expected to be completed during the course of 2010 and result in annual synergies of MNOK 250-350 in the combined company  Approval of the merger from the competition authorities is pending

4. 4 Other important events  Due to a difficult winter weather-wise, volcanic ash and challenges with the start-up of the new South-East terminal, delivery quality for overnight A-mail was 81.8% in the first half year of 2010. Despite this, Norway Post was able to fulfill the other five out of six licence requirements for the period with a good margin  The EFTA Surveillance Authority ESA has imposed a fine of MEUR 12,89 (MNOK 102) on Posten Norge AS for violating the EEA competition regulations. Norway Post is considering whether to appeal the decision  In the first half year of 2010 the new South-East Norway terminal took over the letter production from the letter centre in Oslo. During the course of 2011 letter production from the terminals in Drammen and Hamar will also be transferred to the South-East Norway Terminal  Bring Logistics Solutions opened a new logistics centre at Berger, outside of Oslo. The warehouse has the capacity for 82 000 pallets and will replace five smaller warehouses in the South-Eastern part of Norway  The divisional structure was changed in June 2010. The Group is now organised into 4 market-oriented divisions (incl. ErgoGroup) The logistic centre at Berger opened in the first half year of 2010

5. 5 Operating revenues per quarter 5 Average annual revenue growth of 4.5% (Q2 2006 – Q2 2010) 20062007 Operating revenues per quarter in MNOK 2008 2009 2010

6. 6 Operating revenues from foreign subsidiaries From Q2 2002 until Q2 2010, Norway Post’s foreign operations had an average increase in operating revenues of 29.1% 6  Operating revenues in MNOK Operating revenues from foreign subsidiaries decreased by MNOK 113 (3.1%) from Q2 2009, and accounted for 26.4% of the Group’s revenues, which is at the same level as last year +23% +7% +20% +140% +50% +19% -3.1%

7. 7 EBIT before non-recurring items and write-downs per quarter 7 2006 2007 2008 EBIT before non-recurring items and write-downs per quarter in MNOK 2009 2010

8. 8 Profit and Loss 8 22126-104Write-downs23126-103 372 -4887-494Non-recurring losses / (gains)-510-2-508 168 692158534EBIT998256741 482 -58-36-22Net financial items-116-12912 -284 634122513Net earnings before taxes881128754 198 Q2 2010 Q2 2009 ChangeMNOK YTD 2010 YTD 2009 Change Year 2009 6 7116 864-152Operating revenues13 37413 795-422 27 104 459526-68EBITDA973848125 1 959 227291-64 EBIT before non-recurring items and write-downs 511381130 1 021

9. 9 Key figures  Investments in the first half year 2010 amounted to MNOK 549, a decrease of MNOK 114 compared to 2009  Net debt/EBITDA-factor was 1.4** (Q2 2009: 2.1)  As of 30 June 2010, Norway Post’s long- term liquidity reserve, consisting of market investments and unused drawing rights, amounted to MNOK 4 523, compared with MNOK 4 846 at the same date last year 9 * Moving 12 month average ** Net interest-bearing liabilities MNOK 2 982 and 12 month moving EBITDA MNOK 2 085 MNOK YTD 2010 YTD 2009 Year 2009 Total capital 18 247 17 82818 441 Equity5 819 5 2045 214 Interest-bearing liabilities4 035 4 0754 046 Equity ratio (%) 31.9 29.228.3 Debt ratio (net) 0.5 0.70.4 ROIC (%) before non-recurring items and write-downs* 12.2 8.0 10.6 EBIT-margin before non-recurring items and write-downs (%) 3.8 2.8 3.8

10. Employees

11. 11 Quality development (moving 12 month average)  Delivery quality for over night A- mail was 81.8 % in first half of 2010 compared with 88.6 % for the same period in 2009. This reduction was due to a difficult winter weather-wise, volcanic ash, airports closed at night and challenges in relation to the commencement of the New South- East Norway terminal 11 Licence requirement Delivery quality, moving 12 month average 1999 20042005 2006 20072003 20012000 2008 2009 2002

12. 12 group mail logistics IT Segment structure for Norway Post Group

13. 13 External operating revenues per segment 13 Logistics Mail IT Share of external revenues in% Change 2009 – 2010 in MNOK and % -4,0% -2,6% -2,9%

14. 14 Segment 14  Letter mail  Banking services  Dialog services mail IT logistics

15. 15 Volume development 15 * Addressed and unaddressed direct advertising mail Mail products Unaddressed advertising mail accounted for 50.2% of the parent company mail volums compared with 47.4% in 2009 mail ITlogistics % change pa.20052006200720082009 YTD 2010 Mail Norway Post Group2.94.1-1.3-0.8-10.60.1 Mail Posten Norge AS2.73.7-2.4-3.3-11.60.6 A and B mail (Posten Norge AS) -5.5-0.9-0.30.7-10.1-7.4 Direct Mail* (Posten Norge AS) 10.75.5-4.2-6.2-13.76.4

16. 16 Key figures 16 mail ITlogistics  Total A and B mail volume was 7.4 % lower than the corresponding period in 2009. Falling volumes resulting from increased electronic substitution and the economic downturn were partly offset by price increases  Cost-cutting measures in the Spinnaker programme, including the new post office structure, more effective administrative functions, reduced IT cost and the implementation of the Group’s productivity system have affected results positively  Bring Citymail Sweden had an increase in volume compared to 2009 and the company has carried out extensive measures to improve profitability  As of June 2010, 115 out of 124 post offices have been converted into Post-in-shops. The conversion has been well received by the customers. Norway Post has also decided to modernize its remaining post offices over a three year period in order to meet changing customer’s needs. By the end of second quarter 31 post offices had implemented the new concept MNOKYTD 2010 YTD 2009 Change 10 - 09 Change % Operating revenues 6 2006 451-251-3.9 EBITDA5865256111.6 EBITDA margin9.5%8.1%1.4

17. 17 Segment 17 mail IT logistics  Cargo  Thermo  Express  Parcels  Warehousing logistics

18. 18 Key figures 18 mail ITlogistics  Operating revenues in 2010 were 2.5% lower than the same period in 2009, mainly as a result of falling volumes and pressure on prices within groupage/part load and termo. The transport industry strike contributed to the reduction in volume  Bring Logistics Solutions opened a new logistics centre at Berger, outside of Oslo, in the first half year. The warehouse has capacity for 82 000 pallets and will replace five smaller warehouses in the South- eastern part of Norway  Revenues for the Logistic segment’s operations outside of Norway amounted to MNOK 2 370, which comprised 38.6% of total revenues in the segment  The segment’s earnings were negatively affected by the volume decline, increased transport costs due to delays in rail delivery, start-up costs for the new warehouse at Berger and the transport strike. However, the negative effects were partly offset by cost-cutting measures MNOKYTD 2010 YTD 2009 Change 10 - 09 Change % Operating revenues 6 1376 296-159-2.5 EBITDA253263-10-3.8 EBITDA margin4.1%4.2%-0.1

19. 19 Segment 19 mail IT  Operations  Infrastructure  Solutions  Consulting services IT logistics

20. 20 Key figures mail ITlogistics  Operating revenues in the first half of 2010 were 2.0 % lower than the same period in 2009, mainly due to the sale of operations and the economic downturn in the IT market  In the second quarter, ErgoGroup again experienced organic growth of a little over 3%, and there was growth in all service areas, both in Norway and Sweden  Revenues outside of Norway comprised 27% of the total revenues in the period, which is on the same level as the corresponding period in 2009. Sales to Norway Post comprised 13 % of total revenues, which is on the same level as last year  ErgoGroup entered into contracts worth MNOK 2 312 during the first six months of 2010  Profitability improved within Operations & infrastructure services, but remained unsatisfactory in the Norwegian part of the business. The ongoing restructuring process within this area continues as planned  A good level of chargeable hours was maintained within Solutions & applications services MNOKYTD 2010 YTD 2009 Change 10 - 09 Change % Operating revenues 2 6282 692-64-2.4 EBITDA*23823531.3 EBITDA margin9.1%8.7%0.4 *The positive effect in ErgoGroup of MNOK 84 regarding the transition to the new AFP scheme as of 1 January 2011, was taken to income as a non-recurring item in the segment Other as of 30 June 2010

21. 21 Future focus areas 21  The Group’s earnings development is expected to continue to be negatively affected by low demand, price pressure and strong competition. The decline in revenues in the first six months of 2010 compared to last year was due to a continuous fall in volumes, but at a lower rate, and there are signs of a flattening out and an upswing  The Spinnaker profitability programme has good results and further cost-cutting measures will be taken  The merger between EDB Business Partner and ErgoGroup is expected to be completed during the second half of 2010, and the combined company will become a leading Nordic IT company with the capacity for increased organic growth and the financial strength to exploit future strategic and structural opportunities  There continues to be a focus on long-term and systematic work in the areas of HSE, environment and climate