Stock and press releases

DNB held the Annual General Meeting on 25 April 2017 in Oslo.

All proposed resolutions on the agenda were approved, cf. the notice sent to the Oslo Stock Exchange on 31 March 2016.

The General Meeting approved the Board of Directors' proposal for the distribution of a dividend of NOK 5.70 per share to registered shareholders as at 25 April 2017, to be distributed as from 5 May 2017. The shares in DNB ASA will be quoted ex-dividend on 26 April 2017.

The minutes from the Annual General Meeting are attached.

DNB will publish its results for the first quarter of 2017 on Friday, 28 April 2017 at 7.30 am CET.

28 April at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available at www.dnb.no/en/ir.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

28 April at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 212 999 6659.
Password: DNB Q1. The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir.

2 May at 7.45 am GMT: breakfast conference for analysts in London
Place: UBS 5 Broadgate, London, EC2M 2QS. Please register your attendance in London at [email protected]

Management will present the results followed by a Q&A session.

Shareholders in DNB ASA are hereby invited to attend the Annual General Meeting to be held at 3.00 pm on Tuesday, 25 April 2017 in DNB's premises in Dronning Eufemias gate 30, Bjørvika, Oslo, Norway. The Notice of Annual General Meeting is attached.

On 29 March 2017, S&P Global Ratings Revised its outlook on DNB Bank ASA to stable from negative and affirmed its ‘A+/A-1’ long- and short-term counterparty credit ratings.

The revised outlook to stable from negative reflects DNB’s improved capitalization, tightened efficiency and likely buildup of substantial bail-in buffer.

For further details, please see attached press release from S&P.

Overview of DNB Bank ASA’s long-term senior unsecured ratings:
Moody’s: Aa2, negative outlook
Standard & Poor’s: A+, stable outlook
DBRS: AA (low), stable outlook

Since November 2016, DNB has reviewed various options for its involvement in the project financing of the Dakota Access Pipeline. The bank has now entered into an agreement to sell its share of the loan.

“By selling our stake, we wish to signal how important it is that the affected indigenous population is involved and that their opinions are heard in these types of projects. Although there have been attempts at consultation by the project parties, the outcome of the process suggests that these have been inadequate," says Harald Serck-Hanssen, group executive vice president and head of Large Corporates and International in DNB.

DNB Asset Management chose to sell their mutual fund investments in the companies behind the pipeline in November 2016. Several other Norwegian financial institutions followed suit and have since also sold their investments. At that time, DNB communicated that a sale of the project financing was one of the options under review, but that such a sale would take longer than the sale of shareholdings. In the meantime, DNB has used its position as a lender to try to influence the process, call for a lower level of conflict and took the initiative to carry out an independent investigation of how indigenous people's rights are being safeguarded.

“During the process, we have met several interest groups and listened to their suggestions. We have met, among others, representatives from the Standing Rock Sioux Tribe. We have also engaged in an ongoing dialogue with the company building the pipeline. Many of our customers have contacted us and expressed what they expect from us as a Norwegian bank. In our evaluations, we have taken account of all the input we have received,” says Serck-Hanssen.

Following the sale of the loan, DNB no longer has any direct financial exposure to the Dakota Access Pipeline.

Press contact:

Even Westerveld, EVP, Corporate Communications tel. no. (+47) 400 16 744

The DNB group’s annual report and Pillar 3-report for 2016 is published today, 9th of March 2017, at DNB’s website www.dnb.no/en/ir.