Information regarding Pillar2

The outcome from the Norwegian FSA’s Supervisory Review and Evaluation Process (SREP) for 2015 is now finalised. The Pillar 2 requirement for DNB Bank, the DNB Bank Group and the DNB Group is 1.5 per cent of risk-weighted assets (RWA). The Pillar 2 requirement relates to risks not covered by Pillar 1 and must be met with CET1 capital.

The Pillar 2 requirement comes in addition to the minimum and combined buffer requirements under Pillar 1. By year-end 2015, the resulting CET1 requirement will be 13.5 per cent. Due to increases in the combined buffer requirements in 2016, the CET1 requirement will be 15.0 per cent by year-end 2016. The requirements will be adjusted to reflect any future changes in the Pillar 2 add-on or the buffer requirements.

The DNB Group reported a CET1 ratio of 13.1 per cent as at 30 September 2015, including 50 per cent of interim profits (13.4 per cent when including 70 per cent of profits).

DNB will reach the requirements through a combination of retained earnings, dynamic management of the balance sheet and strengthened capital efficiency measures. Further details will be communicated at DNB’s Capital Markets Day on 25 November.

DNB’s dividend policy remains unchanged, targeting a payout ratio of more than 50 per cent once the capital requirement has been reached. The dividend for 2015 is expected to be at approximately the same level as for 2014.

This information is subject to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.

Contact person:
Thomas Midteide, group executive vice president, Corporate Communications, tel.: + 47 962 32 017
Rune Helland, head of Investor Relations, tel: +47 977 13 250