Kirsten Idebøen, CEO

1. Q11st Quarter 2013
Q1Q
Presentation of results from
SpareBank 1 Gruppen
Kirsten Idebøen, CEO
25 April 201325 April 2013

2. Best Q1 result in SpareBank 1 Gruppen's history
• Pre-tax profit: MNOK 360 (173)
Pre-tax profit in Q1 last 5 years (MNOK)
360
• Net profit for the period: MNOK 315 (200)
• Annualised return on equity: 23.1 (15.9) %
162
173
• Total assets: NOK 48.4 billion, as compared to NOK
46.3 billion at start of the year
Good financial strength:
87
131
23.1 %
• Good financial strength:
– Capital adequacy ratio: 14.0% against 14.6% as
at 31.12.2012
– Core capital adequacy ratio: 12.6% against
13 1% as at 31 12 2012
2009 2010 2011 2012 2013
Return on equity in Q1 last 5 years (%)
8 9 %
12.9 %
15.9 %
13.1% as at 31.12.2012
– Well capitalised to meet new capital requirements
in Solvency II
-0.3 %
8.9 %
2
2009 2010 2011 2012 2013

3. Pre-tax profit from subsidiaries developing well
Pre-tax profit per subsidiary (MNOK)
• Good result from Forsikring
– Strong Q1 for life insurance. Good administration
265
Q1 2012
Q1 2013
g Q
result, increased buffer capital, and further build
up of reserves for longer life expectancy.
– Significant improvement in P&C insurance result.
94
165
147
g p
Implemented improvement measures have had an
effect.
• Decreasing referral volume and weak94
7 3 8
• Decreasing referral volume and weak
profitability in Conecto affected the result of
SpareBank 1 Gruppen Finans.
-45
0-25
1Liv
SB1
kade
B1G
nans
B1
kets
N
• SpareBank 1 Markets' result has improved,
but is still below expectations.
• Focus on management process and costs side
SB1
S
Sk
SB
Fin
SB
Mar
ODIN
• Focus on management process and costs side
in ODIN Forvaltning producing results.
3

4. Life and P&C insurance have been merged into a single,
effective business area - "SpareBank 1 Forsikring"effective business area SpareBank 1 Forsikring
• Even better customer experiences - comprehensive management of customers'
total insurance needs
• Greater competitiveness - strong expert groups and efficient operations - under
integrated management
• SpareBank 1 Livsforsikring AS is changing its name to SpareBank 1 ForsikringSpareBank 1 Livsforsikring AS is changing its name to SpareBank 1 Forsikring,
which will be the business area's market outlet
4

5. SpareBank 1 Forsikring
Best Q1 result ever
5

6. SpareBank 1 Forsikring
Best Q1 result everBest Q1 result ever
Pre-tax profit in Q1 last 5 years (MNOK)
• Pre-tax profit: MNOK 147 (94)
• Administration result: MNOK -0.2 (-7)
Pre-tax profit in Q1 last 5 years (MNOK)
129
147
• Risk result: MNOK 81 (29)
• Investment result: MNOK 166 (73)
92
129
94
• Investment result: MNOK 166 (73)
– Securities adjustment reserve: MNOK 701 against
MNOK 590 as at 31.12.2012
24
• Provisions for higher life expectancy: MNOK 77 (31)
– The new life expectancy assumptions issued by the
Financial Supervisory Authority of Norway will not
noticeably affect the company
24
2009 2010 2011 2012 2013
y p y
6

7. SpareBank 1 Forsikring
Norwegian personal insurance championNorwegian personal insurance champion
Market share Market share
Market - New premiums: MNOK 419 (410) for 2012 Market - Gross written premium: NOK 3.8 (3.6) billion as of 31.12.2012
Ranking Company
Market share
New premiums
1 - SpareBank 1 30.8% (31.4%)
2 Gj idi 17 8% (16 1%)
Ranking Company
Market share
Gross written premium
1 SpareBank 1 23.4% (22.8%)
2 Gj idi 20 2% (20 9%)2 - Gjensidige 17.8% (16.1%)
3 - Nordea 15.6% (18.4%)
4 - Frende 8.8% (5.7%)
2 Gjensidige 20.2% (20.9%)
3 - Storebrand 14.3% (15.1%)
4 - Nordea 12.4% (12.5%)
5 - Terra 7.0% (7.0%) 5 - DNB 8.3% (8.6%)
• The customers are covered by important insurance
• Banks gain extra security for lending and off-balance income
• This success is a result of the banks' targeted focus over several years
7
Personal insurance league as of Q4 2012. New premiums and gross written premium
(life insurance, disability pension and disability capital)

8. SpareBank 1 Forsikring
Continued build up of buffers
16 3 %
Continued build up of buffers
Securities adjustment reserve (MNOK) - accumulated
Buffer capital trend per quarter (%)
14.6 % 15.2 %
14.0 %14.1 %
11.0 %
12.8 %
14.8 %
16.3 %
13.6 %
14.8 %
Securities adjustment reserve (MNOK) accumulated
617 590
701
327
185
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Core capital in excess of minimum Interim profit
Additional provisions Securities adjustment reserve
2009 2010 2011 2012 Q1 2013
Additional provisions Securities adjustment reserve
• Total assets: NOK 31 (28) billion
• Capital adequacy ratio: 18.0 (17.5) %
• Estimated solvency margin: 301% versus 309% at start of
the year
8
the year

9. SpareBank 1 SkadeforsikringSpareBank 1 Skadeforsikring
Groupp
Strong improvement in the result
9

10. SpareBank 1 Skadeforsikring Group
Strong improvement in the resultStrong improvement in the result
265
• Pre-tax profit: MNOK 265 (166)
• Insurance result: MNOK 92 (-19)
Pre-tax profit in Q1 last 5 years (MNOK)
166
( )
• Improved insurance result due to targeted profitability
improving measures
l d l i
48
36
50
– Lower costs related to claims
– Positive profitability trend for main products within
both retail and corporate markets
– Significant profit from prior years in Q1 of MNOK
2009 2010 2011 2012 2013
Significant profit from prior years in Q1 of MNOK
102
• Net financial income: MNOK 170 (194)
10

11. SpareBank 1 Skadeforsikring Group
Implemented profitability measures produce resultsImplemented profitability measures produce results
Combined ratio net quarterly (%) Combined ratio net (%) – accumulated
18 8
94.0
96.2 97.7
103.5
98.2
17 3 17 3
105.5
101.9
105.8
100.7 101.6
96.5
101.5
93 4
Combined ratio, net – quarterly (%)
*Combined ratio, net - including personal insurance in SB1 Forsikring
Combined ratio, net (%) accumulated
*Combined ratio, net - including personal insurance in SB1 Forsikring
96.8*
93.4*
18.2 18.8 17.4
18.8
20.0
17.3
18.4
17.3
22.2
16.7
18.5
20.2
24.4 18.3
96.5
93.4 91.7 84.5*
75.8 77.5 80.3 84.6
78.388.2 83.4 88.5
78.5
84.9
78.0 81.4
69.1 73.3
2008 2009 2010 2011 2012Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013 Net claims ratio Net cost ratio
2011 2011 2011 2011 2012 2012 2012 2012 2013
Net claims ratio Net cost ratio
11

12. SpareBank 1 Gruppen Finans GroupSpareBank 1 Gruppen Finans Group
Good growth in Factoring and Portfolio activities. Weakened profitability in
Conecto
12

13. SpareBank 1 Gruppen Finans Group
Good growth in Factoring and Portfolio activities. Weakened
profitability in Conecto
Pre-tax profit in Q1 (MNOK)
• Good underlying activity and price increases produce
6.8
Q1 2012
Q1 2013
• Good underlying activity and price increases produce
results for Factoring. Country's third largest factoring
business with a Q1 market share of 16.3 (14.2) %
Increased portfolio volume and good recovery in
4.6
3.8
3 1 3 1
Q1 2013 • Increased portfolio volume and good recovery in
Portfolio management*. Total portfolio volume in Q1
of MNOK 1 534 (1 185)
1.7
2.6
3.1 3.1
• Continued weak growth in debt collection market.
Decreased number of referrals and weak profitability
in Conecto
0 6
• Targeted measures focusing on growth and
profitability. The cooperation with the SpareBank 1
banks provides new opportunities for cross-sales of
debt collection services to the banks' corporate
-0.6
Factoring Portfolio Conecto
(debt
collection)
SB1G Finans
Group
p
customers
13
* The business area that acquires portfolios of claims that are then recovered by the Group's debt collection company
Pre-tax profit for SpareBank 1 Gruppen Finans Group, incl. management and excess value amortisation.

14. SpareBank 1 Markets
Improved result - but still belowp
expectations
14

15. SpareBank 1 Markets
Improved result - but still below expectations
50
Improved result but still below expectations
"
Booked income (MNOK) - Quarterly development
33
40
27
50
46
SpareBank 1 can, through
SpareBank 1 Markets, provide the
entire capital structure range,
from bank loans to bonds and
"
27from bank loans to bonds and
equity
"
Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013
• The gross value created in the SB1-alliance amounted to MNOK 56 in Q1; MNOK 10 of which is recognised as• The gross value created in the SB1-alliance amounted to MNOK 56 in Q1; MNOK 10 of which is recognised as
income in the owner banks
• Total turnover for Q1: MNOK 46 (33), up 39% - below expectations
• Pre-tax loss in Q1: MNOK -25 (-45), while the loss from ordinary operations was MNOK -6 (-20)
15

16. ODIN ForvaltningO o a g
Strategic and operational measures on the management side and
cost reducing measures produce results
16

17. ODIN Forvaltning
Strategic and operational measures on theStrategic and operational measures on the
management side produce results
14
• Pre-tax result: MNOK 8 (-0.5)
– Continued focus on reducing costs
Pre-tax profit in Q1 last 5 years (MNOK)
12
8 • Total assets: NOK 27.7 (26.2) billion
– Up by NOK 2.9 billion in 2013
-0.5
• Equity fund market share of 8.4% against
8.2% as at 31.12.2012
– Net new subscriptions MNOK 292
-7
2009 2010 2011 2012 2013
Net new subscriptions MNOK 292
• Combination fund market share of 4.8%
against 4.4% as at 31.12.2012g
– Net new subscriptions MNOK 158
17

18. ODIN Forvaltning
6 out of 11 equity funds performed better than their benchmark.q y p
Positive development in the two largest funds ODIN Norge and ODIN
Norden
18.8
13 8
15.2
Fund Benchmark
Return on equity fund as at 31.03.2013 (%)
5.0
11.3 11.4
9.9 9.5
7.4
8.4
7.5 7.1
13.3
6.3
13.8
7.8
11.1
6.6
9.6
13.3
7.7
11.0
5.0
2.7
ODIN
Norge
ODIN
Sverige
ODIN
Finland
ODIN
Norden
ODIN
Europa
ODIN
Europa
ODIN
Global
ODIN
Emerging
ODIN
Maritim
ODIN
Offshore
ODIN
Eiendom I
SMB Markets
ODIN shall invest in companies with long-term value creation potential and which satisfy the
responsible business requirement. ODIN is a long-term owner and believes that a long-term
perspective is a crucial factor when it comes to generating outperformance within management.
In short, ODIN's investment philosophy can be summed up as follows:
"ODIN shall invest in companies that are priced low in relation to value creation"
18
p p

19. Outlook - SpareBank 1 Gruppen
• The new structure of the insurance business area improves competitiveness,
strengthens expert groups, contributes to more efficient processes, and provides a basis
for further improvements to the result
• Profitability improvement measures in P&C insurance are resulting in continued
improved risk composition in the portfolios and lower claims payments
• A strong balance sheet means freedom of action and the ability to pay dividends
19

20. The nation's savings bank
20
20
The nation s savings bank

21. A diAppendix
21

22. The SpareBank 1 Alliance has a solid business model, with proximity
to its customers and a conservative risk profilep
Shareholders
d d b SamSparand distributors SamSpar
19.5% 19.5% 19.5% 12% 19.5% 10%
Products, commissions and
dividend
S lSales
BN B k B k 1 O l Ak h SpareBank 1 Skadeforsikring ODIN Forvaltning
SpareBank 1 Gruppen AS
Companies in
BN Bank Bank 1 Oslo Akershus
SpareBank 1 NæringskredittSpareBank 1 Boligkreditt
SpareBank 1 Skadeforsikring
(100%)
ODIN Forvaltning
(100%)
SpareBank 1 Forsikring
(100%)
SpareBank 1 Medlemskort
(100%)
the SpareBank 1
Alliance
EiendomsMegler 1 SpareBank 1 Markets
(97.55 %)
The alliance
Brand, technology, competence, processes, best practice and purchasing.
SpareBank 1 Gruppen Finans
(100%)
Resource centres: Payment/Trondheim, credit/Stavanger, training/Tromsø
22

23. SpareBank 1 Gruppen
Key figuresKey figures
Q1 Q4 Q3 Q2 Q1 Year
2013 2012 2012 2012 2012 2012
Group
Net result for the period (MNOK) 315.0 -47.6 227.7 63.4 199.9 443.4
Return on equity (%) 23.1 % -3.5 % 17.2 % 5.0 % 15.9 % 8.7 %Return on equity (%) 23.1 % 3.5 % 17.2 % 5.0 % 15.9 % 8.7 %
Capital adequacy ratio, accumulated (%) 14.0 % 14.6 % 16.7 % 15.9 % 14.8 % 14.6 %
Core capital adequacy ratio, accumulated (%) 12.6 % 13.1 % 15.3 % 14.5 % 13.1 % 13.1 %
SB1 Forsikring
Risk result (MNOK) 80.7 89.8 79.7 92.6 29.4 291.5
Administration result (MNOK) -0.2 -26.7 -3.1 -19.0 -7.5 -56.2
Investment result (MNOK) 166.3 51.2 97.3 47.0 73.2 268.8
Net result for the period (MNOK) 136 4 154 4 128 7 89 1 125 8 189 2Net result for the period (MNOK) 136.4 -154.4 128.7 89.1 125.8 189.2
Buffer capital in % of insurance provisions*, accumulated (%) 14.8 % 13.6 % 16.3 % 14.8 % 12.8 % 13.6 %
Capital adequacy ratio, accumulated (%) 18.0 % 18.5 % 19.0 % 20.0 % 17.5 % 18.5 %
Securities adjustment reserve, accumulated (MNOK) 701.1 590.0 555.5 389.6 465.9 590.0
SB1 Skadeforsikring Group
Operating result before finance (MNOK) 91.7 25.8 24.9 31.1 -19.5 62.4
Net financial income (MNOK) 170.1 119.8 172.8 51.0 194.0 537.6
Net result for the period (MNOK) 219.4 151.8 142.6 42.2 139.5 476.1
Claims ratio, net (%) 73.3 % 69.1 % 81.4 % 78.0 % 84.9 % 78.3 %
Cost ratio, net (%) 18.3 % 24.4 % 20.2 % 18.5 % 16.7 % 20.0 %
Combined ratio, net (%) 91.7 % 93.4 % 101.5 % 96.5 % 101.6 % 98.2 %
Portfolio (MNOK) 5,325 5,446 5,455 5,407 5,328 5,446
ODIN Forvaltning
Management fees (MNOK) 66.7 62.5 64.0 63.4 67.2 257.1Management fees (MNOK) 66.7 62.5 64.0 63.4 67.2 257.1
Net result for the period (MNOK) 6.1 -18.6 1.4 -1.0 -0.3 -18.5
Total assets under management, accumulated (MNOK) 27,741 24,803 24,370 23,541 26,173 24,803
Market share equity fund, accumulated (%) 8.4 % 8.2 % 8.3 % 8.4 % 8.9 % 8.2 %
Market share combination fund, accumulated (%) 4.8 % 4.4 % 4.0 % 4.1 % 3.8 % 4.4 %
SB1 Markets
Total operating income (MNOK) 45.9 50.1 26.6 40.0 32.9 149.6
N t lt f th i d (MNOK) 17 8 12 7 46 6 32 6 32 5 124 4Net result for the period (MNOK) -17.8 -12.7 -46.6 -32.6 -32.5 -124.4
SB1G Finans Group
Net result for the period SB1G Finans Group (MNOK) 2.2 5.4 2.7 5.4 4.9 18.4
Net result for the period SB1G Finans - parent company (MNOK) 3.3 4.0 1.8 1.0 2.2 9.0
Net result for the period Conecto (MNOK) -0.4 2.1 1.6 5.0 3.3 12.0
23
*) Buffer capital as at Q4 is shown after profits have been allocated

24. SpareBank 1 Gruppen
Results for Q1
YearQ1
Results for Q1
Figures in MNOK 2013 2012 2012
Part of result from subsidiaries before tax
- SpareBank 1 Livsforsikring 147.4 94.1 479.4
- SpareBank 1 Skadeforsikring Group 264.8 165.5 618.9
ODIN F lt i 8 4 0 5 20 4- ODIN Forvaltning 8.4 -0.5 -20.4
- SpareBank 1 Markets -24.8 -44.8 -168.5
- SpareBank 1 Medlemskort 3.7 2.8 10.4
- SpareBank 1 Gruppen Finans Group 3.1 6.8 25.1
- Correction Group 0.0 0.0 -8.4
Net result before tax from subsidiaries 402 7 223 8 936 4Net result before tax from subsidiaries 402.7 223.8 936.4
Total operating costs (parent company) -23.0 -33.5 -75.1
Net investment charges (parent company) -19.4 -16.8 -74.7
Pre-tax result 360.3 173.5 786.6
Taxes -45.3 26.4 -343.3
Net result for the period 315.0 199.9 443.4
*
p
Majority interest 315.5 200.7 446.4
Minority interest -0.4 -0.8 -3.0
YearQ1
Key figures 2013 2012 2012
Annualised return on equity 23.1 % 15.9 % 8.7 %
* Last year's operating costs included MNOK 10 linked to a project aimed at establishing the Group’s own card company, which was transferred
24
y p g p j g p p y,
from SpareBank 1 Gruppen AS to SpareBank 1 Kredittkort AS in Q3 2012.

25. SpareBank 1 Gruppen
Quarterly resultsQuarterly results
Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Figures in MNOK 2013 2012 2012 2012 2012 2011 2011 2011 2011 2010 2010 2010 2010
Part of result from subsidiaries before tax
- SpareBank 1 Forsikring 147.4 99.0 144.6 141.8 94.1 98.1 77.7 109.0 129.4 72.5 85.8 100.3 91.9
- SpareBank 1 Skadeforsikring Group 264.8 197.9 185.0 70.4 165.5 167.6 -88.8 56.2 50.3 307.5 253.9 43.4 36.3
- ODIN Forvaltning 8.4 -20.3 1.9 -1.5 -0.5 -8.5 6.3 12.2 11.9 16.5 17.0 16.7 14.4
- SpareBank 1 Markets -24.8 -14.6 -64.2 -44.9 -44.8 -77.5 -51.8 -22.1 -3.4 -24.0 -29.0 -1.9 -2.7
- SpareBank 1 Medlemskort 3.7 2.4 2.8 2.4 2.8 4.5 2.0 2.5 3.1 1.9 2.7 3.3 3.4
- SpareBank 1 Gruppen Finans Group 3.1 7.2 3.8 7.5 6.8 5.9 12.2 3.0 6.8 6.6 -4.9 7.0 -0.1p pp p
- Correction Group 0.0 -0.4 1.0 -9.0 0.0 -1.9 16.4 15.1 -0.9 -6.3 -7.4 16.3 15.1
Net result before tax from subsidiaries 402.7 271.1 274.9 166.6 223.8 188.1 -26.1 175.9 197.1 374.6 318.1 185.1 158.2
Total operating costs (parent company) -23.0 -18.4 2.9 -26.1 -33.5 -29.4 -16.0 -15.6 -27.7 -16.5 40.7 -11.9 -20.0
Net investment charges (parent company) -19.4 -18.6 -21.6 -17.7 -16.8 -19.2 -18.0 -15.0 -7.1 -15.6 -11.4 -9.3 -6.9
Share of associated company 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pre-tax result 360.3 234.0 256.2 122.9 173.5 139.6 -60.1 145.4 162.4 342.5 347.4 163.9 131.3
Taxes -45.3 -281.6 -28.5 -59.5 26.4 141.4 55.8 -48.1 -10.5 -18.5 -88.4 -8.3 -38.5
Net result for the period 315.0 -47.6 227.7 63.4 199.9 281.0 -4.3 97.2 151.9 324.0 259.1 155.6 92.8
Majority interest 315.5 -47.3 228.8 64.2 200.7 282.6 -3.1 98.0 152.4 327.9 263.9 155.9 93.3
Minority interest -0.4 -0.3 -1.1 -0.8 -0.8 -1.6 -1.1 -0.8 -0.5 -3.9 -4.8 -0.3 -0.5
25

26. SpareBank 1 Forsikring
Results for Q1
Year
Figures in MNOK 2013 2012 2012
Insurance risk income 430.1 361.2 1 613.3
Q1
Results for Q1
Insurance risk income 430.1 361.2 1 613.3
Insurance risk claims -334.4 -340.4 -1 303.3
Risk result 95.7 20.7 310.0
Tecnical allocations -15.0 8.7 -18.5
Risk result after tecnical allocations 80.7 29.4 291.5
Reserves -10.4 0.0 -50.6
Risk result after tecnical allocations and reserves 70 3 29 4 240 9Risk result after tecnical allocations and reserves 70.3 29.4 240.9
Fees 196.9 184.8 747.1
Expenses, exclusive comissions -130.3 -128.6 -541.3
Comissions -66.8 -63.7 -262.1
Administration result -0.2 -7.5 -56.2
Net investment income 276.5 188.6 732.3
Guaranteed interest to policyholders -110.2 -115.4 -463.6
Investment result 166.3 73.2 268.8
Reserves -66.6 -31.3 -94.7
Investment result after reserves 99.7 41.9 174.1
Compensation guaranteed interest 4.1 6.3 25.9
Result before additional provisions 173.9 70.1 384.7p
Undistributed profits to customers -63.3 -15.2 -86.8
Return on company's assets 36.8 39.2 181.5
Net profit to owner before tax 147.4 94.1 479.4
Taxes -11.1 31.7 -290.2
Net profit/loss for the period 136.4 125.8 189.2
Key figures Q1 Year
2013 2012 2012
Capital adequacy ratio 18.0 % 17.5 % 18.5 %
Buffer capital in % of insurance provisions 14.8 % 12.8 % 13.6 %
26

27. SpareBank 1 Forsikring
Results per portfolio for Q1Results per portfolio for Q1
Figures in MNOK
Group
portfolio
Previously
established
individual products
Investment choice
portfolio
Company
portfolio Total
Risk result 83.0 -1.1 -1.3 0.0 80.7
Administration result 15.2 -6.5 -8.9 0.0 -0.2
Net investment result 114 8 48 9 1 8 0 8 166 3Net investment result 114.8 48.9 1.8 0.8 166.3
Reserves - long life -77.0 0.0 0.0 0.0 -77.0
Compensation interest guarantee 4.1 0.0 0.0 0.0 4.1
Transferred to policyholders -21.7 -41.4 -0.2 0.0 -63.3
Return on company's assets 0.0 0.0 0.0 36.8 36.8
Sum 118.4 0.0 -8.5 37.6 147.4Sum 118.4 0.0 8.5 37.6 147.4
27

28. SpareBank 1 Forsikring
Premium income trendPremium income trend
Year
Figures in MNOK 2013 2012 2012
Individual annuity and pension insurance 79.8 72.3 325.3
Q1
y p
Individual endowment insurance 155.6 147.9 607.7
Group pension insurance 295.0 244.3 528.9
Individual life insurance 57.6 53.8 223.0
Group life insurance 265.6 239.1 632.5
Unit Linked Annuity 8 6 9 3 34 4Unit Linked - Annuity 8.6 9.3 34.4
Unit Linked - Endowment 33.2 36.7 134.7
Defined contribution pension 296.0 265.1 1 123.8
Total gross due premium income 1 191.3 1 068.5 3 610.2
Premium reserves transferred from other companies 98.7 102.4 575.2
Reinsurance ceded -47.5 -28.6 -154.5
Premium income for own account 1 242.6 1 142.3 4 030.8
28

29. SpareBank 1 Forsikring
Return on customer portfolio with guarantee as at 31/03/2013etu o custo e po t o o t gua a tee as at 3 /03/ 0 3
Value-adjusted return
l di h i l t ti Booked return:
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
Q4
2012
Q1
2013
excluding change in value construction: Booked return:
4.7
5.6
5.4
4.3
2012 2013 2012 2013 2012 2013 2012 2013
7.3
6.2
5.7
5.2
1.6
Percent
2.3
Percent
SpareBank 1 Storebrand DNB Livsforsikring Nordea
N/AN/AN/A
SpareBank 1 Storebrand DNB Livsforsikring Nordea
N/A N/A N/A
29 Source: company presentations

30. SpareBank 1 Forsikring
Return on ordinary customer portfolio with guarantee as atu o o d a y u o po o o gua a a a
31/03/2013
6.9Norwegianshares
Percent
0.7
10.4
Money market
Foreignshares
0 8
1.6
0
F i b d
Norwegianbonds
y
1.3
0.8
Held tomaturity
Foreignbonds
1.6Real estate
30

31. SpareBank 1 Forsikring
Balance sheet as of 31/03/2013Balance sheet as of 31/03/2013
Year
Figures in MNOK 2013 2012 2012
Intangible assets 167 131 165
I t t 3 362 2 938 3 140
Q1
Investments 3 362 2 938 3 140
Reinsurance's part of insurance obligations 234 207 213
Accounts receivable 116 149 105
Other assets 159 339 128
Prepayed liabilities and accrued income 0 0 6
f lInvestments group portfolio 17 602 16 466 17 062
Investments options portfolio 8 998 7 470 8 239
Total assets 30 637 27 699 29 059
Paid in capital 2 073 1 825 2 073
Other equity 565 560 428
Subordinated loan capital 200 200 200
Insurance obligations - contractual 17 530 16 389 16 953
Insurance obligations - investment options 9 110 7 561 8 347
Provisions for obligations 252 75 275
Premium deposits from reinsurance companies 141 139 139
Other obligations 665 888 553
Accrued liabilities, prepaied income 103 62 90
Total liabilities and equity 30 637 27 699 29 059
31

32. Asset allocation per portfolio as at 31/03/2013
(31/12/2012):
SB1 Skadeforsikring
SB1 Fo sik ing
(31/12/2012):
g
Group
SB1 Forsikring
Group portfolio Company portfolio
13 2 (12 6) % 0 2 (0 2) %
The investment choice
portfolio
8.9 (8.2) %
10.7 (11.0) %
10.1 (10.1) %
41.3 (39.2) %
13.2 (12.6) %
0.3 (0.7) %
0.2 (0.2) %
18.5 (18.4) %
45.5 (46.3) %
70.4 (70.7) %
26 1 (27 8) %
19.2 (19.6) % 67.3 (65.7) %
14 0 (15 8) %
54.0 (53.2) %
26.1 (27.8) %
( )
14.0 (15.8) %0.5 (0.4) %
Stocks Other Bonds
Stocks
Other
Real estate
Bonds - amortized cost
Bonds - market value
Other
Real estate
Bonds - amortized cost
Bonds - market value
Stocks
Real estate
Bonds - amortized cost
Bonds - market value
NOK 17.4 (16.9) billion NOK 3.3 (3.1) billion NOK 11.3 (11.0) billionNOK 9.0 (8.2) billion
32

33. SpareBank 1 Skadeforsikring Group
Results for Q1
YQ1
Results for Q1
Year
Figures in MNOK 2013 2012 2012
Gross written premium 1 612.9 1 713.1 5 600.4
Net earned premium 1 193.1 1 234.5 5 073.1
Net incurred claims -875.0 -1 043.7 -3 966.1
Net insurance operating costs -218.7 -211.0 -1 017.7
Q1
Net insurance operating costs 218.7 211.0 1 017.7
Other insurance income/costs 5.2 1.2 14.3
Changes in other technical reserves -13.0 -0.5 -41.2
Operating result before finance 91.7 -19.5 62.4
Net financial income 170.1 194.0 537.6
Other costs 0.0 0.0 -0.1
Result before changes in security reserve 261.8 174.5 599.9
Changes in security reserve 3.0 -9.0 19.0
Pre-tax profit 264.8 165.5 618.9
Taxes -45.4 -26.0 -142.7
Net profit/loss for the period 219.4 139.5 476.1
Key figures Year
Figures in percentage 2013 2012 2012
Claims ratio, net 73.3 % 84.5 % 78.2 %
Cost ratio, net 18.3 % 17.1 % 20.1 %
Q1
,
Combined ratio, net 91.7 % 101.6 % 98.2 %
Capital adequacy ratio 35.0 % 30.9 % 37.1 %
33

34. ODIN Forvaltning
Results for Q1Results for Q1
Year
Figures in MNOK 2013 2012 2012
Management fees 66.7 67.2 257.1
Q1
Management fees 66.7 67.2 257.1
Total operating income 66.7 67.2 257.1
Salaries -23.7 -24.6 -110.1
Depreciations -6.4 -6.5 -26.0
Other operating costs -28 4 -36 9 -130 5Other operating costs 28.4 36.9 130.5
Total operating costs -58.5 -68.0 -266.6
Operating profit 8.2 -0.8 -9.6
Net financial income 0.3 0.3 -10.8
Pre tax profit 8 4 0 5 20 4Pre-tax profit 8.4 -0.5 -20.4
Taxes -2.3 0.2 1.9
Net profit/loss for the period 6.1 -0.3 -18.5
34

35. The nation's savings bank
35
35
The nation s savings bank