Sparebanken Ost · OSL:SPOG

Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (December 2011)

13 slides from Sparebanken Ost's debt investor presentation, Dec 31, 2011

  1. Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation

    Sparebanken Øst Boligkreditt AS Investor presentation 31.12.2011 Frode Lindbeck

  2. Slide 2: Sparebanken Øst group

    Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 20 branches • Total assets 28.5 bn. NOK (≈€3.8 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Q4 2011 – After tax ROE 8.6% – CAR / Tier 1 15.8% / 14.2% 2 Frode Lindbeck

  3. Slide 3: Sparebanken Øst Boligkreditt AS

    Sparebanken Øst Boligkreditt AS • Established 14. April 2009 • Fully owned subsidiary of Sparebanken Øst • Moody’s assigns Aaa rating to Sparebanken Øst Boligkreditt’s mortgage covered bonds March 1st 2011 – All figures in the following presentation are as at December 31st 2011 unless otherwise stat

  4. Slide 4: Summary Q4 2011

    Summary Q4 2011 Sparebanken Øst Boligkreditt AS • Market value non-recourse sale of loans from bank to covered bond company • All loans in cover pool first priority Norwegian residential mortgages • Collateral property valued by independent specialist Eiendomsverdi AS (AVM) • FSA-appointed independe

  5. Slide 5: Sparebanken Øst Boligkreditt AS 31.12.11

    Sparebanken Øst Boligkreditt AS 31.12.11 Rating Aaa (Moody’s) Total assets in the cover 6 715 MNOK pool Outstanding covered bonds 5 650 MNOK Nominal OC 19 % Type of collateral 100 % 1st prio. residential properties Floating rate loans 100 % Weighted average LTV 46.2 % Number of loans 6 790 Average l

  6. Slide 6: Property type

    Property type Frode Lindbeck

  7. Slide 7: Property type

    Property type • Total cover pool size: MNOK 6 715 • Loans are 100% 1.-priority Norwegian residential mortgages • Loan type: 100% adjustable rate mortgages Frode Lindbeck

  8. Slide 8: Regional distribution of Cover Pool

    Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0,0 % 10,0 % 20,0 % 30,0 % 40,0 % Buskerud 37,3 % Akershus 21,7 % Oslo 18,4 % Vestfold 7,0 % Rogaland/Hordaland 6,0 % Østfold 3,6 % Northwest/Trøndelag 2,4 % Telemark/Agder 1,8 % Hedmark/Oppland 0,9 % Nordland/Troms/Finnmark 0,9 % • Distribut

  9. Slide 9: Seasoning

    Seasoning MNOK 3.000 2.500 2.000 1.500 1.000 500 2.735 2.602 932 422 24 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 1.86 years • Approx. 19% of the cover pool is >3 years seasoned Frode Lindbeck

  10. Slide 10: Loan to Value

    Loan to Value 1.800 MNOK 1.600 1.400 1.200 1.000 800 600 400 200 96 370 700 1.076 1.326 1.548 1.493 107 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 80% • Weighted average LTV = 46,2% • Approx. 76% of the cover pool has an LTV < 60% • There are none non-performing or impaired loans in

  11. Slide 11: Issued Covered Bonds

    Issued Covered Bonds 11 Frode Lindbeck

  12. Slide 12: Overcollateralization

    Overcollateralization Frode Lindbeck

  13. Slide 13: Sparebanken Øst Boligkreditt AS contact details

    Sparebanken Øst Boligkreditt AS Phone:+47 915 03220 P.O.Box 54 Fax: +47 3288 3712 3001 Drammen www.oest.no Norway firmapost@oest.no CEO Lars-Runar Groven +47 9020 0224 larsrunar.groven@oest.no Investor / Funding Contact Vegard Kvamme / Frode Lindbeck +47 9770 0370 / +47 9172 4891 vegard.kvamme@oest.

Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (December 2011) on 6ix