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Homer Patterson
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SpareBank 1 Covered Bond Programme - Investor Report December 2011 Series Amount Expected Final Maturity Rating Interest Basis Frequency ISIN NOK Series 3 1 bn NOK [06 / 2018] AAA / Aaa 5,95% Fixed

1 SpareBank 1 Covered Bond Programme - Investor Report December 2011 Series Amount Expected Final Maturity Rating Interest Basis Frequency ISIN NOK Series 3 1 bn NOK [06 / 2018] AAA / Aaa 5,95% Fixed Rate Annually NO NOK Series m NOK [06 / 2018] AAA / Aaa 6,015% Fixed Rate Annually NO NOK Series m NOK [06 / 2012] AAA / Aaa 6,38% Fixed Rate Annually NO EUR Series 3 1 bn EUR [09 / 2013] AAA / Aaa 5% Fixed Rate Annually XS NOK Series 6 2,8 bn NOK [10 / 2017] AAA / Aaa 5,95% Fixed Rate Annually NO NOK Series m NOK [10 / 2013] AAA / Aaa 5,75% Fixed Rate Annually NO NOK Series 8 3 bn NOK [02 / 2013] AAA / Aaa Floating Rate Quarterly NO NOK Series 9 7 bn NOK [08 / 2014] AAA / Aaa Floating Rate Quarterly NO NOK Series bn NOK [06 / 2015] AAA / Aaa Floating Rate Quarterly NO EUR Series 11 1 bn EUR [12 / 2012] AAA / Aaa 2,375% Fixed Rate Annually XS EUR Series bn EUR [03 / 2017] AAA / Aaa 3,25% Fixed Rate Annually XS NOK Series bn NOK [04 / 2016] AAA / Aaa Floating Rate Quarterly NO EUR Series 14 1 bn EUR [06 / 2015] AAA / Aaa 2,5% Fixed Rate Annually XS NOK Series 15 3 bn NOK [08 / 2015] AAA / Aaa Floating Rate Quarterly NO USD Series bn USD [10 / 2013] AAA / Aaa 1,25% Fixed Rate Semi-annually XS EUR Series 1/ bn EUR [02 / 2021] AAA / Aaa 4% Fixed Rate Annually XS USD Series 2011/ bn USD [05/ 2016] AAA / Aaa 2,625% Fixed Rate Semi-annually XS NOK Series 2011/3 1 bn NOK [07/ 2017] AAA / Aaa Floating Rate Quarterly NO NOK Series 2011/4 2,22 bn NOK [07/ 2022] AAA / Aaa 5% Fixed Rate Annually NO NOK Series 2011/5 1 bn NOK [08/ 2018] AAA / Aaa Floating Rate Quarterly NO EUR Series 06/2011 1bn EUR [09/ 2021] AAA / Aaa 3,375% Fixed Rate Annually XS NOK Series 2011/7 1,65 bn NOK [10/ 2026] AAA / Aaa 4,75% Fixed Rate Annually NO NOK Series 2011/8 3,5 bn NOK [11/ 2014] AAA / Aaa Floating Rate Quarterly NO EUR series 9/ bn EUR [11/ 2016] AAA / Aaa 2,375% Fixed Rate Annually XS NOK Series 2011/10 1,75 bn NOK [11/ 2016] AAA / Aaa Floating Rate Quarterly NO NOK Series 2011/ m NOK [06/ 2016] AAA / Aaa 3,65 % Fixed Rate Annually NO SB1 Reporting Contact Carl Fredrik Hjelle, Risk Manager carl.hjelle@sparebank1.no Phone:

2 SpareBank 1 Boligkreditt AS Covered Bond Programme - Quarterly Investor Report: 4th Quarter 2011 Date of Report: 30/12/11 Portfolio Characteristics Total Outstanding Current Balance of Mortgages in the Portfolio NOK Number of Mortgages in Pool Average Loan Balance NOK Weighted Average Current LTV (Indexed) (%) 51.2 % Weighted Average Original LTV (Non-Indexed) (%) 58.4 % Weighted Average Current Seasoning (in Months) 31 Weighted Average Interest Rate (%) 4.12 % Overcollateralisation % Current Arrears Breakdown Number % of Total Number Amount % of Total Amount Current 0 < month arrears <= % NOK % 1 < months arrears <= % NOK % 2 < months arrears <= % NOK % > 3 months arrears % NOK % Total % NOK % Current Arrears Breakdown (by Indexed LTV) Number % of Total Number Amount % of Total Amount 0 < month arrears <= 1, LTV <= 75% % NOK % 1 < months arrears <= 2, LTV <= 75% % NOK % 2 < months arrears <= 3, LTV <= 75% % NOK % > 3 months arrears, LTV <= 75% % NOK % 0 < month arrears <= 1, LTV > 75% % NOK % 1 < months arrears <= 2, LTV > 75% % NOK % 2 < months arrears <= 3, LTV > 75% % NOK % > 3 months arrears, LTV > 75% % NOK %

3 Current LTV (Indexed) Number % of Total Number Amount % of Total Amount 0 <= x <= 30% % NOK % 30 < x <= 35% % NOK % 35 < x <= 40% % NOK % 40 < x <= 45% % NOK % 45 < x <= 50% % NOK % 50 < x <= 55% % NOK % 55 < x <= 60% % NOK % 60 < x <= 65% % NOK % 65 < x <= 70% % NOK % 70 < x <= 75% % NOK % >75% % NOK % Original LTV (Non-Indexed) Number % of Total Number Amount % of Total Amount 0 <= x <= 30% % NOK % 30 < x <= 35% % NOK % 35 < x <= 40% % NOK % 40 < x <= 45% % NOK % 45 < x <= 50% % NOK % 50 < x <= 55% % NOK % 55 < x <= 60% % NOK % 60 < x <= 65% % NOK % 65 < x <= 70% % NOK % 70 < x <= 75% % NOK % >75% 0.00 % 0.00 %

4 Regional Distribution Number % of Total Number Amount % of Total Amount AKERSHUS % NOK % AUST AGDER % NOK % BUSKERUD % NOK % FINNMARK % NOK % HEDMARK % NOK % HORDALAND % NOK % MØRE OG ROMSDAL % NOK % NORD TRØNDELAG % NOK % NORDLAND % NOK % OPPLAND % NOK % OSLO % NOK % ROGALAND % NOK % SOGN OG FJORDANE % NOK % SPITSBERGEN % NOK % SØR TRØNDELAG % NOK % TELEMARK % NOK % TROMS % NOK % VEST AGDER % NOK % VESTFOLD % NOK % ØSTFOLD % NOK % Ownership Status Number % of Total Number Amount % of Total Amount Owner Occupied % NOK % Buy To Let Borrowers Totals % NOK %

5 Property Type (Residential) Number % of Total Number Amount % of Total Amount Apartment % NOK % Detached House % NOK % Holiday House % NOK % Semi Detached House % NOK % Other % NOK % Repayment Type Number % of Total Number Amount % of Total Amount Repayment % NOK % Revolving % NOK % [Other] Seasoning in Months Number % of Total Number Amount % of Total Amount 0 <= x <= % NOK % 12 < x <= % NOK % 18 < x <= % NOK % 24 < x <= % NOK % 30 < x <= % NOK % 36 < x <= % NOK % 42 < x <= % NOK % 48 < x <= % NOK % x > % NOK %

6 Borrower Status Number % of Total Number Amount % of Total Amount Employed % NOK % Self-Employed % NOK % [Other] Mortgage Size NOK Number % of Total Number Amount % of Total Amount 0 <= x <= % NOK % < x <= % NOK % < x <= % NOK % < x <= % NOK % < x <= % NOK % < x <= % NOK % < x <= % NOK % < x <= % NOK % x > % NOK % Mortgage Payment Frequency Number % of Total Number Amount % of Total Amount Monthly % NOK % Bi-monthly % NOK % Quarterly % NOK % Tri-annually % NOK % Semi-Annually % NOK % Annually % NOK % Interest Payment Type Number % of Total Number Amount % of Total Amount Fixed Variable % NOK % Tracker Capped [Other]

7 Substitute collateral Total balance (NOK) Total balance Total NOK Total EUR Total SEK Sovereign Sub Sovereign Agency Covered Bond Senior Unsecured (min rated A/A2) Deposit Bond Name/ Counterparty ISIN Exposure type Rating* Currency Nominal Balance Balance NOK KFW 4,375% due Oct 2013 DE000A0E9DM0 Agency Aaa EUR KFW 4,125% due July 2017 DE000A0MFJX5 Agency Aaa EUR KFW 4,375% due July 2018 DE000A0SLD89 Agency Aaa EUR KFW 2,25% due april 2015 DE000A1DAMJ6 Agency Aaa EUR KfW FRN 05/10/2016 DE000A1EWEA4 Agency Aaa EUR KFW FRN due Jan 2017 DE000A1EWEK3 Agency Aaa EUR KFW 2,125% due April 2014 DE000A1H36U5 Agency Aaa EUR KFW 3 govt gr,125 due April 2016 DE000A1H36V3 Agency Aaa EUR KfW 2 09/16 DE000A1K0UB7 Agency Aaa EUR KfW 0,875-15/11/2013 DE000A1K0UE1 Agency Aaa EUR * SEB TREASURY 08/13 NO Senior Unsecured A+ NOK * DNB NOR BOLIGKREDITT 09/16 NO Covered Bond Aaa NOK * DNB NOR BOLIGKREDITT 09/17 NO Covered Bond Aaa NOK * DNB NOR BOLIGKREDITT 09/17 NO Covered Bond Aaa NOK * SVENSKA HANDELSBANKE 09/14 NO Senior Unsecured AA- NOK Nordea Bank Ab 09/12 FRN NO Senior Unsecured aa2 NOK * DNB NOR BANK ASA 09/14 NO Senior Unsecured Aa3 NOK * NORDEA HYPOTEK AB 09/14 NO Covered Bond Aaa NOK * DNB NOR BOLIGKREDITT 09/14 NO Covered Bond Aaa NOK * DANSKE BANK BOLIGKREDITT 09/14 NO Covered Bond Aaa NOK LANDSHYPOTEK AB 09/13 NO Covered Bond AAA NOK * THE SWEDISH COVERED 09/14 NO Covered Bond Aaa NOK * SPAREBANKEN MØRE BOL 10/16 NO Covered Bond Aaa NOK * LANDSHYPOTEK AB 10/15 NO Covered Bond AAA NOK Terra Boligkreditt Cov.Bond 10/16 NO Covered Bond Aa2 NOK * Nordea Eiendomskredi 10/15 NO Covered Bond Aaa NOK * SPAREBANKEN VEST BOL 10/16 NO Covered Bond Aaa NOK KLP Kommunekreditt 10/12 Frn Cov NO Covered Bond Aaa NOK * KLP KOMMUNEKREDITT 10/13 NO Covered Bond Aaa NOK * Nordea Eiendomskredi 11/13 NO Covered Bond Aaa NOK STATSKASSEVEKSEL 2103 NO Sovereign Aaa NOK STATSKASSEVEKSEL 1506 NO Sovereign Aaa NOK * DNB NOR BOLIGKREDITT 11/18 NO Covered Bond Aaa NOK Terra Boligkreditt FRN 10/14 NO Covered Bond aa- NOK Kommuninvest NOK FRN 15/11/16 NO Sub Sovereign Aaa NOK Stadshypotek 3,75% 12/13 XS Covered Bond Aaa EUR KfW 4,66 01/12 XS Agency Aaa NOK Credit Agricole XS Covered Bond Aa3 EUR DnB NOR Boligkreditt 4,125% 02/13 XS Covered Bond Aaa EUR SEB 4 1/2-25/04/2013 XS Covered Bond Aaa EUR DnB Bank EUR FRN XS Covered Bond Aa3 EUR SEB Covered bond 4 Due March 2014 XS Covered Bond Aaa EUR Stadshypotek 3 Due1 Oct 2014 XS Covered Bond Aaa EUR Renten FRN XS Agency Aaa EUR Pohjola CB 3,125% due Nov 14 XS Covered Bond Aaa EUR Renten FRN 03/07/2015 XS Agency Aaa EUR Rentebank 1,2 09/16 XS Agency Aaa EUR DnB NOR Boligkreditt 3,375% 01/17 XS Covered Bond Aaa EUR Lansforsakringar Hypotek 2,875 03/15 XS Covered Bond Aaa EUR Danske Bank Covered Bond XS Covered Bond Aaa EUR Stadshypotek Covered Bond XS Covered Bond Aaa EUR DnBNor BK EUR XS Covered Bond Aaa EUR SpB Vest Boligkreditt 2,50% 06/2015 XS Covered Bond Aaa EUR Rentenbank FRN XS Agency Aaa EUR Renten FRN 09/01/17 XS Agency Aaa EUR Skand Enskilda Covered Bond 2,625% XS Covered Bond Aaa EUR NORDEA BANK FINLAND ABP /11/201 XS Covered Bond Aaa EUR Aktia MB 11/13 XS Covered Bond Aa1 EUR DnB NOR Boligkreditt 2,625 Due Jan 2016 XS Covered Bond Aaa EUR SEB Covered Bond 01/16 XS Covered Bond Aaa EUR DnB NOR Boligkreditt EUR FRN 03/16 XS Covered Bond Aaa EUR SCBC CB due April 2016 XS Covered Bond Aaa EUR Stadshypotek 3,375% 5/16 XS Covered Bond Aaa EUR Nordea Bank Finland CB 2,5 % 06/14 XS Covered Bond Aaa EUR Aktia Covered Bond 3.125% 06/16 XS Covered Bond Aa1 EUR Rentenbank FRN XS Agency Aaa EUR OP MORTGAGE BANK 3,5% 11/07/2018 XS Covered Bond Aaa EUR Nordea Bank Finland 2,375 02/09/16 XS Covered Bond Aaa EUR DnB NOR Boligkreditt 2,5% Oct 2016 XS Covered Bond Aaa EUR City of Stockholm XS Sub Sovereign Aaa SEK City of Gothenburg FRN 01/12/16 XS Sub Sovereign Aaa NOK Deposit NOK Deposit A- NOK Deposit NOK Deposit A NOK Deposit EUR Deposit A- EUR Deposit EUR Deposit A+ EUR Total *The ratings are either from Moodys, Fitch or S&P. If there exists more than one rating, the lowest is selected if they differ. EURNOK

SpareBank 1 Covered Bond Programme - Investor Report Desember 2014 Public Covered Bonds Outstanding:

SpareBank 1 Covered Bond Programme - Investor Report Desember 2014 Public Covered Bonds Outstanding: Series Amount (Mill) Issued Expected Final Maturity Rating Interest Basis Frequency ISIN Swap rate FX