Cost efficiency Modern, safe and profitable payment solutions Asset management, insurance, credit cards, car loans and leasing IT and infrastructure

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3 Market and Customer Base Customer base of 4, retail customers and 5, businesses Our home market consists of nine municipalities in Rogaland: Sandnes, Gjesdal, Stavanger, Time, Klepp, Sola, Randaberg, Hå and Bjerkreim The home markets covers in total 3, people and 26, businesses Organization 14 years of banking operations 135 man years SSB Boligkreditt was established in 28 as a wholly owned subsidiary of SADG. The goal is to secure long-term funding for the bank by issuing covered bonds Sandnes Sparebank owns 6% of AKTIV Eiendomsmegling Jæren Branches The Largest Bank in the Eika Alliance Cost efficiency Modern, safe and profitable payment solutions Asset management, insurance, credit cards, car loans and leasing IT and infrastructure I Sandnes: Rådhusgata 3 II Stavanger: Haakon VIIs gate 7 III Oslo: Haakon VIIs gate 6 3

4 1 Sandnes Sparebank 8, % 2 Obos Bbl 6,3 % 3 Totens Sparebank 5,3 % 4 Jæren Sparebank 4,6 % 5 Jernbanepersonalets Sparebank 2,9 % 6 Lillestrøm Sparebank 2,9 % 7 Aurskog Sparebank 2,7 % 8 Skue Sparebank 2,7 % 9 Skagerak Sparebank 2,6 % 1 Sparebanken Narvik 2,5 % Sales, portfolio, know-how and capital Products, commissions, dividend, services, systems and training 4

5 Increased net interest margin og strong cost control. Earnings in line with communicated 217-estimates. Net after tax profit of NOK 197mn, 7.5% ROE and 5% dividend payout ratio Well capitalised. Growth stimulating measures. Strong focus on marketing and branding. Positive net lending growth in the 4th quarter. More satisfied customers. Improved customer interaction. Growth in volume on Eika Products. Digitalisation and effectivisation, in addition to personal customer service. Finanstilsynet has approved customer dividends. Giving back to society. Dedication to create activity and inspiration in our local market. 5

6 Sandnes Sparebank is the second bank in Norway that distributes customer dividends Customers share of the distribution depends on the banks profit and on how much they have in deposits and loans Includes all customers: retails, corporates and organizations Customers share of distribution is in line with the core values of a savings bank We will continue to distribute gifts to charitable purposes from Sandnes Sparebank s Gift Fund 6

7 Overføring fond for urealiserte gevinster,5m Dividend to ECC- owners 64,4m Oppsummering: Dividend to ECC-owners 64,4m To ECC-owners 129.5m Retained Capital 99,5m Profits to be distributed 198mn 65.4% 34.6% To Gift Fund 1m Customer Dividend 24,1m Primary Capital 68,6m 5% 5% 5% 5% Utbyttegrad Utbyttegrad Retained ECC-Capital 65m Retained Capital 99,5m Retained Primary Capital 34,4m To Gift Fund 1m Transfer to/from Other Funds To Gift Fund / Customer Dividend 34,1m Customer Dividend 24,1m Net Profit After Tax 197,6m 5 % payout ratio 2,8 kr per ECC 1mn to gift fund 24.1mn in customer dividends Max customer dividends approx. 4,5 (2mn deposit + 2mn loan) Ex. Dividend on 22 March, Dividend payout on 6 April Customer dividends to be distributed in April/May Tall beregnet fra konsernresultat, faktisk disponering fra Morbank 7

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9 Estimate 217 < 29 NOKm Results NOKm Estimate NOKm 6-1 NOKm > 15,2 % 72 NOKm 16,6 % 5-9 NOKm > 15,2 % 25-5 % 5 % 5 % 9

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11 Q4-216 in parenthesis 11

12 Q16 1Q17 2Q17 3Q17 4Q EPS last quarter at NOK 1.1 EPS at NOK 5.6 YTD, up from 4.8 in

13 9,5 % 7,3 % 7,3 % 8,6 % 5,6 % 6,2 % 7,3 % 7,5 % 4,1 % 4Q16 1Q17 2Q17 3Q17 4Q ,5 % 13

14 Target: 18% 15,6 % 15,8 % 16,1 % 16,2 % 16,6 % 18% 15,6 % 16,6 % 15% 14,5 % 15% 12% 12% 11,6 % 12, % 12,1 % 9% 9% 6% 6% 3% 3% % % 4Q16 1Q17 2Q17 3Q17 4Q CET1 FSA min. req Regulatory minimum requirement increased from 14% til 14.5% per EOY Growth capacity of NOK 2.5bn within target CET1-ratio Assuming unchanged mix between retail and corporate lending 14

15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 -,1 % -,3 % 2, % -,2 -,2-1,8 % -3,1 % -1,7 %,2 %, % -,4-4,4 % -4,4 % -,4-3,4 % -4,7 % -3,5 % -4,2 % -,6 -,8-6,6 % -7,1 % -6,5 % -2, % -,6-6,9 % -6,5 % -5,9 % -5,6 % -,1 -,12-6,4 % -5,2 % -5,4 % -4,8 % -4,2 % -4, % -6, % -,8 -,14-7,5 % -7,8 % -8, % -,16-8,8 % -,1-1, % -,18 -,12 Group level -,2 Retail Corporate -12, % Growth last quarter of 2.% Retail volume up by 19mn (1.3%) Corporate volume up by 24mn (3.4%) Unchanged YoY Retail lending decreased by 4mn (-.3%) Corporate lending increased by 1mn (.2%) 15

16 1,66% 1,78% 1,78% 1,87% 1,85% 1,63% 1,65% 1,6% 1,64% 1,81% 4Q16 1Q17 2Q17 3Q17 4Q

17 3,2 33,1 6,4 5,9 15,5 8, 11,5 13,5 48,1 6,9 3,5 13,3 23,2 6,,7 14, 18,5 13,1 2,5, 2,5 -,8, 4Q16 1Q17 2Q17 3Q17 4Q17 Other operating income Change in value currency and securities Net commission income Dividend and income securities (variable yield) 6,2 86,7 84,7 23, 26,2 2, 61,1 58,7 -,3 32,5 53,9 5,9 2,4-49,9 174,4 26,8 46,7 61,9 39, 122,9 27,1 14,9 53,9 27, Other operating income Change in value currency and securities Net commission income Dividend and income securities (variable yield) From 216 forward dividend and income from securities is mainly Aktiv Eiendom (RE Agent) 17

18 Estimate: Q16 1Q17 2Q17 3Q17 4Q

19 1 54% 1 81% 1 45% 41% 45% 49% % 59% 47% 45% 4Q16 1Q17 2Q17 3Q17 4Q

20 5, 4,5 4, 25 4,3 23 4, ,3 4,8 4,3 3,8 4,8 4,3 5,1 4,1 4,6 4,5 5, 2 3,5 3,3 18 3, 2,5 15 2, ,5 2, ,8 2,3 1,8 1,7 1,5 2,7 1,9 2,5 2,4 1,9 1,6 2, Volum > MNOK 1 # > MNOK 1 1 1, Volum < MNOK 5 Volum MNOK 5 - MNOK 1 Volum > MNOK 1 The bank continues to reduce the concentration risk on the corporate loan book # lån og volum basert på enketlstående engasjement, ikke Basel II-gruppering 2

21 Estimate: %,98 % 1% % 1%,11 % 25,9 %,9 %,9 % 19 2,6 % Q16 1Q17 2Q17 3Q17 4Q17 % % %,49 % 234,33 %,16 %,1 % % % % % % Losses on loans Losses in % of gross lending Losses on loans Losses in % of gross lending Losses on loans and guarantees amount to MNOK 2.1 in Q4 Realised losses are MNOK 1.2 Indiviual write-downs are MNOK 2.5 Collective provisions have been reduced by MNOK 1.6 Realised losses amount to MNOK 93, write-down already made for MNOK 87 Individual write-downs reduced by MNOK 16.8 Collective provisions reduced by MNOK 2.5 Loss absorbing capacity vs. target CET1-ratio (15.2%) is MNOK 22 w/o accounting for YTD profits 21

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23 jan. 13 apr. 13 jul. 13 okt. 13 jan. 14 apr. 14 jul. 14 okt. 14 jan. 15 apr. 15 jul. 15 okt. 15 jan. 16 apr. 16 jul. 16 okt. 16 jan. 17 apr. 17 jul. 17 okt. 17 jan , 5 113, 4 18, 3 3,2 13, 2 2,4 98, 1 93, 88, Rogaland Norge Other industries Oil related industries1) Public sector Total employment 23

24 Data: Norges Bank Reuters/Bloomberg Fields in production Exploration Field development Shutdown and removal 24

25 okt.2 jun.3 feb.4 okt.4 jun.5 feb.6 okt.6 jun.7 feb.8 okt.8 jun.9 feb.1 okt.1 jun.11 feb.12 okt.12 jun.13 feb.14 okt.14 jun.15 feb.16 okt.16 jun.17 feb.18 apr.3 nov.3 jun.4 jan.5 aug.5 mar.6 okt.6 mai.7 des.7 jul.8 feb.9 sep.9 apr.1 nov.1 jun.11 jan.12 aug.12 mar.13 okt.13 mai.14 des.14 jul.15 feb.16 sep.16 apr.17 nov ,5 2 1,5 1,5 -,5-1 Last 3 mths Next 6 mths, previous survey Next 6 mths Next 12 mths 25

26 jan. 7 jul. 7 jan. 8 jul. 8 jan. 9 jul. 9 jan. 1 jul. 1 jan. 11 jul. 11 jan. 12 jul. 12 jan. 13 jul. 13 jan. 14 jul. 14 jan. 15 jul. 15 jan. 16 jul. 16 jan. 17 jul. 17 jan. 18 jan. 7 jul. 7 jan. 8 jul. 8 jan. 9 jul. 9 jan. 1 jul. 1 jan. 11 jul. 11 jan. 12 jul. 12 jan. 13 jul. 13 jan. 14 jul. 14 jan. 15 jul. 15 jan. 16 jul. 16 jan. 17 jul. 17 jan Haugesund 15 Sandnes Norge Bergen Stavanger Stavanger 1 Oslo Source: Eiendomsverdi 26

27 , % Data: Akershus Eiendom / Eiendomsmegler 1 Næringseiendom 14, % 13,5 % 12, % 1, % 1 8, % 6, % 4, % 2, % 22 4, % DNB Næringsmegling / EM1 Næringsmegling Signs of rental prices bottoming out in fringe and oil related areas On the other hand, with a high level of available office space it will take time before rents start to increase again, both in CBD and fringe areas CBD Stavanger and Sandnes are doing relatively well Available office space in Forus strongly influenced by Statoil not extending contracts for 67, sqm. Totalt available space in Forus is around 2, sqm Source: Akershus Eiendom, Eiendomsmegler 1 Næringseiendom Stavanger, DNB Næringsmegling 27

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29 IAS 39 IFRS 9 Classification and valuation From January 218 IFRS 9 will replace the excisting standard for treatment of financial assets and liabilitites for accounting purposes (IAS 39) Provisions Hedge accounting Will mostly affect expected loss estimates, and hence also loan loss provisions For Sandnes Sparebank the adoption of IFRS 9 will incur a modest increase in provisions (MNOK 2) as per 1/1-218 The IFRS 9-effect on capitalisation is negligible 29

30 2, 8, 18, 16, 14, 12, 1, 18,6 2,5,8 3, ,6,6,7 1,4,6 1,2 1,5 1,1 1, 2,2,8 2,8 2,6 2,6,9 2,7 1, - -1, 7, 6, 5, 4, ,1 5,6 1,9 3,9 5,5 5,6 11,7 13,6 59 1, 4, 4,8 11,9 72 2,6 5,9 4,1 11,9 66 2,5 6,2 3,9 1,7 6, 4, 2, -2, - 8, 3, 6, 4, 11,2 1,8 1,8 11,4 9,8-3, 2, 43,4 41,1 37,1 47,5 42,8-2, -4, 1, -4, 2, - 4Q 216 1Q 217 2Q 217 3Q 217 4Q 217 Transaction Services Guarantees -5, Transaction Services Guarantees -6, Financial Instruments (asset mgt. and sales) Insurance Sales Financial Instruments (asset mgt. and sales) Insurance Sales Product Distribution Product Distribution Reduced margins from payment and transaction services Increased volume in savings and insurance, but reduced margins Fra og med 216 er Inntekter fra datterselskaper og tilknyttedde selskaper i all hovedsak Aktikv Eiendom 3

31 12% 12% 9,67 % 9,7 % 9,75 % 9,83 % 9,62 % 9,67 % 9,62 % 9% 9% 7,5 % 7,37 % 7,64 % 6% 6% 3% 3% % 4Q16 1Q17 2Q17 3Q17 4Q17 %

32 ,6 14, ,9 11,1 1,9 1,7 1, ,4 1,9 1, Q16 1Q17 2Q17 3Q17 4Q Deposit-to-loan ratio is 51% on group level, and 73% for the parent bank 32

33 ,5 21,3 21,3 21,1 21, ,3 23,9 22,8 21,5 21, Q16 1Q17 2Q17 3Q17 4Q Lending growth of 2.% in 4Q17 Retail lending increased by MNOK 19 (1.3%) Net corporate lending increased by MNOK 222 (3.2%) YTD lending growth close to zero Net retail volume reduced by MNOK 4 (-.3%) Net corporate volume increased by MNOK 1 (.4%) 33

34 Commercial real estate 55, % 67 % 33 % Other* 1,7 % Buidling & construction 14,2 % Oil & gas,4 % Public and private services 12,3 % Lending Retail Lending Corporate Farming Retail services 3,9 % 3,7 % Note(*): other sectors = ( industrial + hotel & restaurant + transportation)) 34

35 3,1 46 % 2,9 3, 3, 3,1 2,2 77 % 2,8 2,4 96 % 2,5 2,7 64 % 3,1 3,1 35 % 1,7 37 % 1,1 1,3 24 % 23 %,7,7,4 12 % 1,1,4 12 % 4Q16 1Q17 2Q17 3Q17 4Q17 Large Exposures Total capital Large exposure/total capital Large Exposures Total capital Large exposure/total capital Large exposures are regulatory defined as exposures > 1 % of total capital (MNOK ~ 3). As per 3Q17 one customer is defined as large, in total MNOK

36 1,96 % 1,95 % 2,11 % 1,98 % 1,97 % 2,8 % 2,16 % 2,26 % 2,19 %, %,12 %,9 %,14 %,11 %,12 %,2 % -,2 % -,2 % 3,13 % 3,2 % 3,18 % 3,5 % 3,14 % 3,6 % 3,46 % 3,59 % 3,56 %,13 %,29 %,2 %,27 %,32 %,17 %,6 % -,5 % -,6 % 1% % % % % % -1% -1% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 Lending margin retail Lending margin corporate -1% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 Deposit margin retail Deposit margin corporate 36

37 1,87 % 1,73 % 1,73 % 1,74 % 1,8 % 2% 1,85 % 1,87 % 1,8 % 2% % %,76 %,87 % % % -1% -1 % -2% % % -3 % % 4Q16 1Q17 2Q17 3Q17 4Q17 Collective write-downs Individual write-downs Total write-downs in % of gross lending -4 % Collective write-downs Individual write-downs Total write-downs in % of gross lending -5% 37

38 ,24 % 2,38 % 2,34 % 2,16 % 2,57 % 2,32 % 2,24 % 2,16 % 1,97 % 1,5 % 4Q16 1Q17 2Q17 3Q17 4Q17 Net non-performing and doutbful loans Net non-performing and doubtful loans in % of net lending Net non-performing and doutbful loans Net non-performing and doubtful loans in % of net lending 38

39 51% 52% 51% 51% 51% 57 % 43 % Deposits Retail Deposits Corporate 4Q16 1Q17 2Q17 3Q17 4Q17 39

40 Geographical distribution International,4 % Rest of Norway 5% 67 % Oslo / Akershus 14% 33 % Rogaland 81% Lending Retail Lending Corporate 4

41 42% 8, % 7, % 63,6 % 62,2 % 62,9 % 64,2 % 6, % 23% 16% 13% 5, % 4, % 5%,5 % < 6% 6-75% 75-85% 85-1% >1% Unsecured 3, % 2, % 1Q17 2Q17 3Q17 4Q17 Note(*): Weighted Average LTV is volume weighted 41

42 Holiday home Other 1% Fixed 4 % Unsecured,4 % Residential Real estate 97,5 % Float 96 % 42

43 4.5 26% % % % Covered Bonds Bonds & Certificates T1 & T2 Deposits

44 NSFR LCR 238 % % K17 1K18 2K18 3K18 4K18 1K19 2K19 3K19 4K19 Mortgage loans available for Covered Bonds Liquidity facility Norwegian Central Bank Free Liquidity Liquidity buffer 44

45 Domestic Domestic Industries Financial Gov't Bills institutions 68% Foreign Domestic Foreign Covered Bonds Municipalities Municipalities (RW2) (RW) Gov't Guaranteed Domestic Covered Bonds 24% 1% 5% 1% % AAA AA A BBB BB Lower than BB 45

46 Figures in thousand NOK 4Q17 4Q Net interest income Net commission income Other operating income Total other operating income Total other operation costs Operating profit before tax and losses Losses on lending and guarantees Operating profit before tax Tax Net after tax profit business for sale Operating profit after tax Earnings per equity capital certificate 1,1,7 5,6 4,8 Return on equity after tax 5,6 % 4,1 % 7,5 % 7,3 % 46

47 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 Growth assets -,4 % -2,2 %,1 % -,7 % -,2 % -,6 % -1, %,6 % Growth lending -1,3 % -2, % -,5 % -2,1 % -1, %,2 % -1,2 % 2, % Growth deposits -2,1 % -1,9 % -3,1 % 2,7 % 1,5 % -1,1 % -2,6 % 1,8 % Interest margin % av. total assets 1,46 % 1,74 % 1,68 % 1,7 % 1,78 % 1,78 % 1,84 % 1,85 % Other income % of total income 1, % 42, % 3,2 % 21, % 22,2 % 29,2 % 16,1 % 13,2 % Cost-to-income ratio 64,9 % 36,9 % 4,2 % 54,2 % 45, % 41,4 % 45,4 % 48,7 % Costs as % of av. total assets 1, % 1,1 % 1, % 1,2 % 1, % 1, % 1, % 1, % Return on equity before tax -1,3 % 2,3 % 12,9 % 6,4 % 9,8 % 11,6 % 9,6 % 7,5 % Return on equity after tax -,9 % 16,9 % 1,3 % 4,1 % 7,3 % 9,5 % 7,3 % 5,6 % Capital adequacy ratio 15,9 % 16,2 % 18,3 % 19,7 % 19,1 % 19,6 % 19,6 % 2, % Tier 1 capital ratio 13,8 % 14, % 16,1 % 17,5 % 17,2 % 17,6 % 17,7 % 18,1 % CET1 12, % 12,2 % 14,3 % 15,6 % 15,8 % 16,1 % 16,2 % 16,6 % Risk-weighted assets Number of man-years Stock exchange price Equity capital certificate % of equity 58,6 58,8 65,2 64,9 64,9 65, 65, 64,5 Earnings per equity capital certificate -,4 7,4 1,7,7 1,3 1,8 1,4 1,1 Book value per equity capital certificate 171,4 177,7 72, 72,8 74,3 75,2 76,5 76,6 Individual write-downs in % of gross lending 1,62 % 1,7 % 1,75 % 1,36 % 1,2 % 1,2 % 1,23 % 1,3 % Coll. write-downs in % lending after ind. wr.-d.,4 %,44 %,47 %,51 %,53 %,54 %,51 %,5 % Deposits to loans ratio 49,7 % 49,8 % 48,6 % 5,8 % 52, % 51,3 % 5,6 % 5,6 % Deposits to loans ratio parent bank 72,1 % 72,7 % 7,7 % 73,6 % 76, % 75,3 % 74,2 % 73,3 % 47

48 des. 15 jan. 16 feb. 16 mar. 16 apr. 16 mai. 16 jun. 16 jul. 16 aug. 16 sep. 16 okt. 16 nov. 16 des. 16 jan. 17 feb. 17 mar. 17 apr. 17 mai. 17 jun. 17 jul. 17 aug. 17 sep. 17 okt. 17 nov. 17 des. 17 jan. 18 Pris Volum largest owners of equity certificates as at No. of equity certificates Share 1. Sparebank 1 SR-Bank C/O SR-Investering ,14 % 2. Merrill Lynch ,86 % 3. AS Clipper ,73 % 4. Espedal & Co AS ,85 % 5. VPF EIKA Egenkapital C/O Eika Kapitalforvaltning ,5 % 6. Wenaasgruppen AS 65. 2,82 % 7. Salt Value AS ,6 % 8. Sparebanken Vest Aksjer ,85 % 9. Nye Skagenkaien Holding AS 35. 1,52 % 1. Nordhaug Invest AS ,38 % 11. Meteva AS ,14 % 12. Kristian Falnes AS 25. 1,9 % 13. Grunnfjellet AS ,1 % 14. Velde Holding AS 215.,93 % 15. Jal Holding AS ,88 % 16. Bergen Kommunale Pensjonskasse 2.,87 % 17. Innovemus AS V/Oskar Bakkevig ,86 % 18. Tirna Holding AS 185.,8 % 19. Barque AS ,77 % 2. Parra Eiendom AS ,7 % Sum ,34 % SADG VOLUME SADG OSEEX (rebased) OSEBX (rebased) 48

49 Distribution of profits (MNOK) 217 Bank level net profit after tax, mother bank (dividend basis) 197,6 Transferred to/from other funds,5 Total available for distribution 198, Kommentarer Earnings are distibuted between the ECC-owners and the primary capital, accordring to their relative ownership share in the bank Distribution to ECC-owners Share of earnings 65,4% Profits distributed (MNOK) 129,5 Proposed dividend per ECC (NOK) 2,8 Total dividends (MNOK) 64,4 Earnings per ECC (NOK) 4,8 Dividend payout ratio 49,8% To Equalisation Reserve (MNOK) 65, ECC ownership share after distribution 65,1% Distribution to primary capital Share of profits 34,6% Profits distributed (MNOK) 68,6 Transferred to Gift Fund/Customer dividend (MNOK) 34,1 Proposed customer dividend (MNOK) 24,1 Transferred to Gift Fund (MNOK) 1, To Basic Fund (MNOK) 34,4 Dividend payout ratio of 49.8% is in the upper range of previously communicated interval between 25 % and 5 % Ex-date: 31 March Payment Date: 11 April Summary 217 Total retained to increase solidity (Equalisation and Basic Fund) 99,5 Total distributed in the form of dividends and transfer to Gift Fund 98,6 49

50 Fitch Ratings-London-9 October 217: Fitch Ratings has affirmed SpareBank 1 Nord-Norge's (SNN) Long-Term Issuer Default Rating (IDR) at 'A', SpareBank 1 SMN's (SMN) and SpareBank 1 SR-Bank's (SR) Long- Term IDRs at 'A-', and Sandnes Sparebank's Long-Term IDR at BBB'. The Outlooks on all Long-Term IDRs are Stable. Sandnes Sparebank: Long-Term IDR affirmed at 'BBB'; Outlook Stable Short-Term IDR affirmed at 'F3' Viability Rating affirmed at 'bbb' Support Rating affirmed at '5' Support Rating affirmed at 'No Floor' 5

51 Definition of Key Figures Rate of deposits to loans OB net loans to customers / OB deposits from customers Liquidity coverage ratio (LCR) Liquid assets / net liquidity output within 3 days in a stress scenario Interest margin ((Net interest income / days in the period) x days in a year) / average total assets Interest margin incl. fee to the Norwegian Investor Compensation Scheme ((Net interest income incl. fee to the Norwegian Investor Compensation Scheme / days i period) x days in a year) / average total assets Cost / income ratio Total operating costs / (net interest income + total other operating revenues) Costs as a percentage of average total assets ((Total operating costs / days in the period) x days in a year) / average total assets Return on equity after tax (Operating profit after taxes / days in the period x days in a year) / ((OB total equity + IB total equity) / 2 Equity certificate capital in % of equity (Equity certificate capital + own equity certificate + share premium + dividend equalisation reserve) / (Equity certificate capital + own equity certificate + share premium + dividend equalisation reserve + savings bank`s fund + gift fund) Earnings per equity certificate (Operating profit after taxes x equity certificate capital in % of equity) / number of equity certificates Book value per equity certificate OB total equity x equity certificate capital in % of equity / number of equity certificates Price / Book (P/B) Market price / book value per equity certificate Operating profit before write downs and taxes Operating profit after tax + tax cost + write downs on lening and guarantees Return on equity before tax (Operating profit before taxes / days in the period x days in a year) / ((OB total equity + IB total equity) / 2 51

52 This presentation has been prepared solely for promotion purposes of Sandnes Sparebank. The presentation is intended as general information and should not be construed as an offer to sell or issue financial instruments. The presentation shall not be reproduced, redistributed, in whole or in part, without the consent of Sandnes Sparebank. Sandnes Sparebank assumes no liability for any direct or indirect losses or expenses arising from an understanding of and/or use of the presentation.