Ringkjøbing Landbobank — Earnings Release 2016

Aug 3, 2016

The profit before tax was DKK 327 million, representing a return of 21% p.a. on
equity at the beginning of the period, which is considered highly satisfactory.
The bank's core earnings increased by 3% to a total of DKK 314 million, which
is above budget for the first half-year.

(Million DKK) 1st half 1st half 2015 2014 2013 2012
2016 2015

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Total core income 488 482 954 907 844 823
Total costs and depreciations -150 -149 -306 -298 -273 -265
Core earnings before impairments 338 333 648 609 571 558
Impairment charges for loans etc. -24 -29 -60 -87 -120 -157
Core earnings 314 304 588 522 451 401
Result for portfolio etc. +13 +15 0 +65 +21 +47
Profit before tax 327 319 588 587 472 448

The half-year - highlights:

-- Upward adjustment of expectations for core earnings to the range DKK 525 -
600 million
-- The profit before tax was DKK 327 million, equivalent to a return of 21%
p.a. on equity at the beginning of the period
-- 3% increase in core earnings to DKK 314 million, which is above budget for
the half-year
-- The rate of costs for the half-year was 30.7%, which is still the lowest in
Denmark
-- DKK 5 million decrease in impairment charges to DKK 24 million, the
equivalent of 0.2% p.a.
-- 18% increase in the bank’s loans and 4% increase in deposits
-- Continued highly satisfactory increase in customer numbers in both the
branch network and the niche concepts

Please do not hesitate to contact the bank’s management if you have any
questions.

   Yours sincerely,        
 Ringkjøbing Landbobank

John Fisker Jørn Nielsen