DNB Bank ASA — M&A Activity 2015

Sep 29, 2015

DNB sells portfolios of non-performing loans to Lindorff

DNB sells portfolios of non-performing loans to Lindorff

DNB has agreed with Lindorff Capital AS , part of the Lindorff Group, to sell

several portfolios of non-performing loans in Norway. The portfolios consist of

unsecured claims from DNB's consumer and equipment financing operations and

corporate banking operations, dating from 1984 to 2015.

As a result of the transaction, DNB will make reversals on earlier impairment

losses related to the various portfolios. The current estimated pre-tax effect

is approximately NOK 1.1 billion.

The sale has been initiated as part of the Group's capital efficiency programme.

Lindorff Group is one of Europe's leading partners for handling non-performing

portfolios. The company has 3,500 employees in 13 countries with headquarters in

Oslo, Norway. In 2014, Lindorff generated Euro 475 million in net revenue.

DNB Markets acted as financial adviser for DNB in connection with the

transaction

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Press contacts:

DNB: GEVP Corporate Communications, Thomas Midteide: (+47) 96 23 20 17

Lindorff Norway: Head of Communications, Stig Inge Eikemo: (+47) 90 07 03 84

Investor Relations contacts:

DNB: Head of Investor Relations, Rune Helland: (+47) 23 26 84 00

Lindorff Group: Director Investor Relations, André Adolfsen: (+ 47) 24 16 26 26

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