Spar Nord Bank

Capital/Financing Update • Nov 17, 2016

As an element in its ongoing endeavours to optimize the Bank’s capital
structure and to ensure appropriate capital resources to match the formulated
growth strategy (see company announcement no. 45, 2016), Spar Nord has decided
to investigate the potential for issuing new Additional Tier 1 (AT1) capital.

In this connection, Spar Nord has given Nykredit Markets and Spar Nord Markets
a mandate to arrange investor meetings, and, if market interest is
satisfactory, to handle the offering process.

The loan, which is expected to be in the order of DKK 400 million, will have a
perpetual term with a possibility of early redemption five years after the
issue. The loan will have a trigger of 5 1/8%, which means that the loan will
be written down if Spar Nord’s Common Equity Tier 1 (CET1) ratio drops below
this limit. The loan can be written up again based on the rules laid down in
CRR.

Should you have any questions in connection with this announcement, please
contact the undersigned at tel. +45 9634 4010 or at oma@sparnord.dk.

Sincerely yours,
Spar Nord

Ole Madsen
Senior Vice President, Communication & Business Development