Jyske Bank — Audit Report / Information 2010

Jul 15, 2011

-- Jyske Bank's Core Tier 1 capital ratio was 12.5% or more throughout the
stress-test period.

Jyske Bank's overall results of the EU stress test appear from the table below:

DKKm Realised Baseline Adverse
2010 scenario scenario

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                   2011      2012     2011     2012

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Core Tier 1 capital 12,664 14,379 16,323 13,529 14,214

Risk-weighted assets 105,026 104,151 103,568 107,851 111,271

Core Tier 1 capital ratio * 12.1% 13.8% 15.8% 12.5% 12.8%

• Core Tier 1 capital ratio is exclusive of hybrid Core capital.

Jyske Bank has taken part in the EU wide stress test coordinated by the
European Banking Authority (EBA). The stress test, which is carried out across
90 banks, seeks to assess the resilience of European banks to severe shocks and
their specific solvency to hypothetical stress events under certain restrictive
conditions in 2011 and 2012.

Jyske Bank recognizes the result of the stress test, which is based on
preconditions specified by the EBA. The adverse economic scenario is not a
projection of expected results but a reflection of assumptions that are not
expected to be realised.

Under the adverse economic scenario, the Core Tier 1 capital ratio will rise to
12.8% at end-2012 against 12.1% at end-2010.

For analysis purposes, the EU wide stress test applies a minimum criterion
stipulating a Core Tier 1 capital ratio of 5.0% , which in respect of Jyske
Bank equals a Core Tier 1 capital amounting to DKK 5.6bn. At end-2012, Jyske
Bank's Core Tier 1 capital will amount to DKK 14.2bn under the most adverse
economic scenario, equalling a surplus Core Tier 1 capital of DKK 8.6bn
compared to the minimum criterion.

Anders Dam, Managing Director and CEO:

"The EU stress test only confirms the solid capital position and structure of
Jyske Bank. For both 2011 and 2012, the calculated levels are fully
satisfactory in respect of the business strategy and the authorities'
requirements.

The stress test and the various scenarios do not make allowance for current or
future business strategies and management actions, and hence they do not
constitute a forecast of Jyske Bank's current or expected financial
development,” concludes Anders Dam.