Last update: 24 October 2016 Swedbank references 2016 IPO Joint - - PowerPoint PPT Presentation

Last update: 24 October 2016

Swedbank – references

IPO Joint Global Coordinator Ongoing restructuring process Mandated

2016

3

Swedbank – references

June 2016 EUR 30m 5 years Senior unsecured bond October 2016 NOK 200m Private Placement and block sale October 2016 SEK 357m Block sale in SAS for the Norwegian and Swedish state September 2016 NOK 2,900m Sale of Plantasjen to Ratos October 2016 NOK 54m Block trade June 2016 EUR 250m 5 years Senior unsecured bond October 2016 Fairness Opinion Equity issue June 2016 NOK 60m

2016

September 2016 Fairness Opinion Rights issue June 2016 NOK 67m June 2016 USD 318m Hexagon merger with Agility Fuel Systems 5 years (Tap) Tap issues June 2016 NOK 1,050m June 2016 NOK 1,000m Hofseth acquisition

• f Fjordlaks

July 2016 USD 100m Rights Issue July 2016 Fairness Opinion September 2016 EUR 50m 3 years Senior unsecured bond October 2016 NOK XXXm Rights issue October 2016 NOK 900m 5 year Senior unsecured bond XXX 2016 NOK XXXm Restructuring XXX 2016 NOK XXXm Restructuring XXX 2016 NOK XXXm Transaction

4

Swedbank – references

June 2016 SEK 1,800m Rights Issue April 2016 USD 150m Re-financing:

• Incl. convertible

bond & equity issue January 2016 SEK 4,600m

• Acq. of 11.9%

shareholdings in Lundin Petroleum March 2016 NOK 86m Private placement and repair issue January 2016 Undisclosed Advisor in merger February 2016 NOK 11,000m Equity financing of Fosen wind farm project January 2016 Undisclosed Sale of E.ON’s stake in Latvijas Gaze January 2016 SEK 300 m 5 years senior unsecured bond January 2016 SEK 300 m 3 years senior unsecured bond June 2016 SEK 160m IPO Sole Global Coordinator Rights issue June 2016 SEK 805m May 2016 SEK 4,300m Swap agreement: raising ownership share in Lundin to 20,1% Rights issue June 2016 SEK 5,000m June 2016 SEK 6,500m Rights issue May 2016 EUR 570m 5 years Senior PK Toggle Notes May 2016 EUR 500m Contemplated bond issue June 2015 NOK 455m M&A Sale

2016

May 2016 SEK 750m 4 years Senior unsecured bond May 2016 SEK 300m 3 years Senior unsecured bond April 2016 SEK 600m 3 years Senior unsecured bond April 2016 SEK 1,000m 3 years Senior unsecured bond

5 Note: *Swedbank sold shares for ITOCHU and Scatec AS in the listed company Scatec Solar AS

Swedbank – references

2015

October 2015 NOK 35m Rights Offering November 2015 NOK 672m Secondary sale* November 2015 Undisclosed Sale of Småkraft to Aquila Capital December 2015 Undisclosed Equity issue and sale of shares to Aquila Capital December 2015 NOK 750m Rights Offering October 2015 NOK 18m Block trade October 2015 Fairness Opinion December 2015 SEK 312m Rights issue December 2015 SEK 250m 3.5 year (Tap) Senior unsecured bond December 2015 NOK 4.5m Private placement December 2015 SEK 150m 3.7 years (Tap) Senior unsecured bond November 2015 NOK 500m 3 years Senior unsecured bond September 2015 SEK 300m 3.1 years Senior unsecured bond September 2015 USD 100m Equity issue September 2015 USD 40m Private placement July 2015 NOK 357m Private placement

6

Swedbank – references

2015

4 years Senior unsecured bond March 2015 SEK 1,400m 3 year s Senior unsecured bond April 2015 SEK 1,000m 4 years Senior unsecured bond January 2015 SEK 300m 4 years Senior unsecured bond February 2015 SEK 1,000m Tier 2 bond February 2015 NOK 200m Tier 2 bond February 2015 NOK 500m Fairness opinion February 2015 Equity Issue April 2015 NOK 65m Sale of Fibo-Trespo to FSN Capital May 2015 NOK 450m 5 year Senior unsecured bond May 2015 NOK 1,000m 7 year

• Sub. unsecured bond

May 2015 USD 300m 6 year Senior unsecured bond May 2015 EUR 50m 5 year Senior unsecured bond May 2015 USD 130m Sale of Fugro’s multi- client library to Spectrum June 2015 USD 115m IPO June 2015 NOK 280m 5 year Senior unsecured bond June 2015 NOK 900m Secondary Sale June 2015 NOK 200m M&A Sale June 2015 NOK 455m Equity / loan financing June 2015 USD 99.7m Bond amendment July 2015 Sale-lease-back June 2015 USD 300m

7

Swedbank – references

2014

5yr Senior unsecured bond January 2014 MNOK 1,000 Subsequent offering January 2014 MNOK 100 3yr Senior secured bond January 2014 MNOK 500 5yr Senior unsecured bond January 2014 MUSD 600 4yr Senior unsecured bond January 2014 MNOK 700 5yr Senior unsecured bond February 2014 MNOK 1,100 5 yr Senior unsecured bond February 2014 MNOK 750 10 yr Senior unsecured bond February 2014 MUSD 350 Subsequent offering February 2014 MNOK 153 Block transaction Secondary sale of shares February 2014 MNOK 261 5 yr Senior unsecured bond March 2014 MNOK 900 7 years Senior unsecured bond March 2014 MNOK 1,250 5 yr Senior secured bond March 2014 MSEK 1,500 5 yr Senior unsecured bond March 2014 MSEK 1,500 5 years Senior secured bond March 2014 MUSD 230 5 years Senior unsecured bond March 2014 MNOK 800 5 years Senior secured bond March 2014 MEUR 80 6 – 12 months Super senior bridge bond March 2014 MUSD 60 Rights Issue & Private Placement March 2014 SEK 360m IPO February 2014 SEK 300m Tier 2 bond issue and buyback January 2014 MNOK 300

8

Swedbank – references

2014

IPO April 2014 MUSD 250 5 yr Senior secured bond May 2014 MUSD 100 5 yr Senior secured bond May 2014 MNOK 650 4 yr Senior secured bond May 2014 MSEK 375 5 yr Senior secured bond May 2014 MSEK 335 3 yr Senior secured bond June 2014 MNOK 225 4,5 yrs tap Senior unsecured bond June 2014 MNOK 300 5 yr Senior unsecured bond June 2014 MNOK 1,000 Private Placement June 2014 MUSD 200 Public Offer May 2014 MNOK 44.5 Private Placement June 2014 MNOK 65 Advisor to Østfold Energi with a sale of 2,7% stake in Hafslund June 2014 MNOK 260 March 2014 Undisclosed Sale of K2 Shipping’s business to Western Bulk Private Placement April 2014 MNOK 90 5 yr Senior secured bond June 2014 MEUR 95 5 and 7 yr Senior unsecured bond June 2014 MNOK 1,500 Tier 2 bond issue May 2014 MNOK 350 Tier 2 bond issue March 2014 MNOK 1,100 IPO March 2014 USD 175m EQT acquition of StormGeo March 2014 Undisclosed Vardar AS Senior Unsecured Bond March 2014 NOK 300m

9

Swedbank – references

2014

5 yr Senior unsecured bond September 2014 MUSD 500 Advisor to PG in sale to Norvestor September 2014 Undisclosed Joint Global Coordinator and Joint Lead Bookrunner October 2014 NOK 6,015m 5 yr Senior secured bond October 2014 MUSD 400 Sale of Norsk Grønnkraft November 2014 Undisclosed Adviced Paragon Offshore on the acquisition of Prospector Drilling November 2014 MUDS 522 Advisor in the merger between Time Sparebank and Klepp Sparebank October 2014 Undisclosed Tier 1 bond issue, Tier 2 bond issue and buyback October 2014 MNOK 160 + 130 Private Placement September 2014 MNOK 12.1 5 yr Senior secured bond September 2014 MUSD 150 Private placement August 2014 MUSD 525 5 yr Senior unsecured bond June 2014 MNOK 350 5 yr Senior unsecured bond August 2014 MNOK 700 5 yr Senior unsecured bond August 2014 MSEK 350 Tier 1 bond and Tier 2 bond issue August 2014 MNOK 50 + 150 Sale of AS Betong to Spenncon August 2014 Undisclosed Advisor to Risa Group in sale of Betongbygget August 2014 Undisclosed SEK 1,000,000,000 5 years Senior unsecured bond September 2014 Advisor to Service Property in sale to Adolfsen brothers June 2014 Undisclosed

Service Property AS

Tier 2 bond issue June 2014 MNOK 500 Rights issue November 2014 MNOK 16.8

Swedbank – references

2014

Vardar AS Senior Unsecured Bond December 2014 NOK 300m NOK 200,000,000 1 year Senior unsecured bond December 2014

11

Swedbank First Securities – selected references

2013

7 yr Senior unsecured bond January 2013 MNOK 500 5 yr Senior unsecured bond January 2013 MNOK 1,300 3 & 5 yr Senior unsecured bond January 2013 MNOK 1,300 Private placement January 2013 MNOK 987.5 Private placement February 2013 MUSD 250 3 yr Senior unsecured bond February 2013 MNOK 300 5 yr Senior unsecured bond February 2013 MNOK 1,250 Private Placement Febraury 2012 MNOK 45.2 5 yr Senior unsecured bond March 2013 MNOK 1,800 5 yr Senior unsecured bond March 2013 MNOK 500 3 yr Senior secured bond March 2013 MNOK 500 Private Placement March 2013 MUSD 80 5 yr Senior secured bond April 2013 MUSD 75 Secondary sale of 13.4% holding April 2013 MNOK 287.2 Private Placement May 2013 MNOK 102 5 yr Senior unsecured bond May 2013 MNOK 1,000 5 & 7 yr Senior unsecured bond May 2013 MNOK 2,000 5 yr Senior unsecured bond June 2013 MNOK 700 Selling agent Share offering May 2013 MUSD 360 5 yr Senior unsecured bond June 2013 MNOK 300 Sale of ITM to Bandak Group April 2013

12

Swedbank First Securities – selected references

2013

5yr Senior & secured 1st priority June 2013 MUSD 90 IPO June 2013 MNOK 904.5 Sale of Swedish hydropower assets June 2013 MSEK 5,200 Private placement and rights issue June 2013 MSEK 550 Preference share

• ffering

June 2013 MUSD 100 7yr Senior unsecured bond June 2013 MNOK 1,900 Rights Issue June 2013 MEUR 1.5 Private placement August 2013 MUSD 110

Nautical Bulk Holdings

5 yr Senior unsecured bond August 2013 MNOK 900 2.2 & 3.5 yr Senior unsecured bond September 2013 MNOK 500 IPO September 2013 MNOK 2,352 Advisor to Rothschild in the acquisition of Metron July 2013 Rights issue August 2013 MNOK 24 5yr Senior unsecured bond October 2013 MNOK 1,500 IPO October 2013 MNOK 750 7yr Senior secured bond October 2013 MNOK 1,810 5yr Senior unsecured bond October 2013 MNOK 700 Private placement October 2013 MUSD 40 Private placement October 2013 MNOK 60 Private placement October 2013 MNOK 430 3.5 yr Secured secured bond November 2013 MUSD 150

13 Source:

Swedbank First Securities – selected references

2013

Subsequent offering December 2013 MNOK 20 3yr Senior unsecured bond December 2013 MNOK 650 Subsequent offering November 2013 MUSD 6 Convertible bond November 2013 MUSD 150 Private placement November 2013 MUSD 250 Private Placement November 2013 MNOK 174 Private placement December 2013 MNOK 118

14 Source:

Swedbank First Securities – selected references

2012

Secondary sale of 12.8% holding December 2012 MNOK 93 Preference share

• ffering

December 2012 MUSD 202 Private Placement December 2012 MNOK 200 Private Placement December 2012 MNOK 1,030 Advisor to Schlumberger in the acquisition of GeoKnowledge AS December 2012 N/A Advisors to the Cappelen family in the sale of Vrangfoss Krafverk to Nordsjøkraft December 2012 MNOK 685 3 & 6 yr Senior unsecured bond November 2012 MNOK 700 5 yr Senior secured bond October 2012 MSEK 520 MEUR 3.75 5 yr Senior unsecured bond October 2012 MNOK 600 3 yr Senior unsecured bond October 2012 MNOK 1,000 Sale of Dreggen to Palfinger October 2012 N/A 5 yr Senior secured bond September 2012 MUSD 200 5 yr Senior secured bond September 2012 MUSD 800 Sale of Fugro’s 14% holding September 2012 MNOK 444 Fairness opinion September 2012 N/A 7 yr Senior unsecured bond September 2012 MNOK 1,000 3 yr Senior secured bond September 2012 MNOK 500 6 & 7 yr Senior secured bond September 2012 MNOK 950 4 yr bond issue September 2012 MSEK 500 7 yr + 3 & 6 yr tap Senior unsecured bond August 2012 MNOK 1,000 Restructuring advisor for senior secured bond October 2012 MEUR 85

15 Source:

Swedbank First Securities – selected references

2012

3 yr Senior unsecured bond June / September 2012 MNOK 350 + 150 Negotiated financing package June 2012 N/A 3 yr Senior unsecured bond June 2012 MNOK 750 3 yr Senior secured bond June 2012 MNOK 200 5 yr Senior unsecured bond June 2012 MNOK 20 IPO June 2012 N/A Share dispersion exercise in connection with listing on OSE June 2012 N/A Advisor for Backahill in the acquisition of Brinova Fastigheter June 2012 MEUR 562 3 yr Bond issue June 2012 MSEK 420 3 yr Senior unsecured bond May 2012 MNOK 350 5 yr Senior unsecured bond May 2012 MNOK 1,500 3 yr Bond issue May 2012 MSEK 180 Advisor to Agora Oil&Gas in connection with the sale to Cairn Energy April 2012 MUSD 375 5 yr Senior unsecured bond April 2012 MNOK 700 3 yr Senior unsecured bond April 2012 MNOK 600 Advisor for EQT in connection with the acquisition of Anticimex April 2012 MEUR 327 Advisor for Schlumberger in connection with the acquisition of SPT Group March 2012 N/A Private Placement March 2012 MSEK 103 Renegotiation of Hugo Explorer charter March 2012 N/A Underwritten rights issue March 2012 MNOK 1,010 Advisor to Norwegian Seals in connection with the sale to Fenner PLC August 2012 N/A

16 Source:

Swedbank First Securities – selected references

2012

3 yr Senior unsecured bond March 2012 MNOK 350 3 & 6 yr Senior unsecured bond March 2012 MNOK 1,000 5 yr Senior unsecured bond March 2012 MNOK 300 - 500 5 yr Senior unsecured bond March 2012 MNOK 400 - 500 3 yr Senior unsecured bond March 2012 MSEK 350 10 yr Senior unsecured bond February 2012 MNOK 700 3 & 5 yr Senior unsecured bond February 2012 MNOK 1,300 5 yr Senior unsecured bond February 2012 MNOK 500 4 yr Senior unsecured bond February 2012 MNOK 700 3 yr Senior unsecured bond February 2012 MNOK 400 10 & 15 yr Senior unsecured bond January 2012 MNOK 1,500 Advisor to NOV in connection with the acquisition of NKT Flexibles January 2012 MDKK 3,800 Rights issue January 2012 MNOK 36 2 yr Senior unsecured bond January 2012 MNOK 1,250 5 & 7 yr Senior unsecured bond January 2012 MNOK 1,000 Advisor to Lybica Holding BV with a sale

• f 21.71% stake in

Intex Resources January 2012 MNOK 134 5 yr Senior unsecured bond March 2012 MNOK 600

17 Source:

First Securities – selected references

2011

5 yr bond issue June 2011 MUSD 300 Sale of the company to Finisar Corp May 2011 MNOK 750 Advisor to StormGeo in connection with the sale of the company to Reiten & Co. April 2011 N/A Private Placement April 2011 MUSD 330 Private Placement April 2011 MUSD 65 3 yr bond issue May 2011 MNOK 250 5 year bond issue November 2011 MNOK 1,400 Advisor to 4 Norwegian energy companies for the acquisition of a 24.5% share stake October 2011 N/A Private Placement October 2011 MUSD 35 Private Placement September 2011 MNOK 70 Private Placement August 2011 MNOK 489 Private Placement August 2011 MNOK 900 Advisor to Floatel in connection with the amalgamation with Aqua Pellentesque Pending MUSD 650 Sale of shares in Norwegian Hard Rock Drilling AS May 2011 N/A Private Placement in Eitzen Chemical April 2011 MUSD 55 IPO March 2011 N/A Private Placement March 2011 MSEK 150 Bond issue April 2011 MNOK 750 Bond issue March 2011 MNOK 600 IPO April 2011 MUSD 350 Public offering April 2011 MNOK 457

18 Source:

First Securities – selected references

2011

2 yr bond issue March 2011 MNOK 350 5 yr bond issue January 2011 MNOK 600 Private Placement January 2011 MSEK 285 Tap issue January 2011 MNOK 200 5 yr bond issue February 2011 MUSD 120 Advisor to KJR in the sale of the company’s Belt self-unloader division March 2011 N/A

19 Source:

First Securities – selected references

2010

8 yr bond issue October 2010 MUSD 140 Convertible bond issue December 2010 MNOK 200 Private Placement December 2010 MNOK 65.9 Adviser to Cega AS in connection with the acquisition of a 75% stake by Norvestor December 2010 N/A Private Placement December 2010 MUSD 60 Private Placement EMS December 2010 MNOK 146 Advisor to RUE in connection with the acquisition by Fugro December 2010 N/A Private Placement December 2010 MUSD 63 Financing of acquisition

• f Munters

November 2010 MSEK 5.7 4 yr bond issue December 2010 MNOK 700 Coordinator Underwriter November 2010 MSEK 1,700 Advisor to Hyresbo- städer i Sverige I AB & Hyresbostäder i Sverige III GUL AB November 2010 MSEK 7 IPO November 2010 MUSD 50 Private Placement November 2010 MUSD 21 Private Placement October 2010 MNOK 35 Rights issue October 2010 MNOK 30 5 yr bond issue November 2010 MNOK 1,000 3 yr bond issue November 2010 MNOK 700 4.25 yr bond issue November 2010 MNOK 600 5 yr bond issue November 2010 MNOK 900 Financial advisor and manager November 2010 MNOK 112.5

20 Source:

First Securities – selected references

2010

6 yr bond issue October 2010 MNOK 225 Advisor to Statskog in connection with acquisition of Orkla’s forest assets October 2010 MNOK 1,725 Block purchase of shares in Intex Resources ASA September 2010 MNOK 72 Advisor to Prosafe Production in connection with the sale of the company to BW Offshore September 2010 MNOK 9,000 3.5 yr bond issue September 2010 MNOK 750 3 yr convertibe bond issue August 2010 MUSD 4 IPO July 2010 N/A Financial advisor in connection with acquistion of properties July 2010 MNOK 250 Advisor to Herkules in connection with the acquisition of Intelecom July 2010 N/A Bond issue July 2010 MUSD 20 Bond issue July 2010 MUSD 200 Private Placement June 2010 MNOK 43 Bond issue June 2010 MNOK 300 Sale and leaseback Havila Troll June 2010 MUSD 57 Private Placement June 2010 MNOK 300 Private placement June 2010 MNOK 196 Advisor for DONG Energy in connection with the sale of shares in Nordkraft and SKS June 2010 MNOK 2,200 IPO June 2010 N/A Acquisition of Simrad Optronics ASA June 2010 MNOK 590 IPO May 2010 N/A Syndication of properties May 2010 MNOK 60

21 Source:

First Securities – selected references

2010

Convertible bond issue May 2010 MNOK 320 IPO May 2010 N/A Private Placement April 2010 MSEK 87 Private Placement March 2010 MSEK 165 Private Placement March 2010 MUSD 55 Merger between Bridge Energy AS and Silverstone Energy Ltd March 2010 N/A Acquisition of Kammer- herreløkka in Porsgrunn (new building with NAV as main renter) April 2010 N/A Bond issue April 2010 MNOK 325 Sale of New Store Europe to Herkules March 2010 N/A 5 yr bond issue March 2010 MUSD 225 Financial advisor in connection with acquistion of properties February 2010 MNOK 110 Private Placement January 2010 MNOK 81

22 Source:

First Securities – selected references

2009

Acquisition and merger with Riverstone December 2009 MNOK 1,960 Share issue of 30 million new shares December 2009 MNOK 135 Private Placement December 2009 MUSD 10 Private Placement December 2009 MUSD 200 Acquisition of Bjørge ASA December 2009 MNOK 470 3 yr bond issue December 2009 MNOK 500 Private placement and secondary sale of shares November 2009 MNOK 210 Bond loan November 2009 MNOk 600 Issue of PCCs November 2009 MNOK 1,250 Sale of shares for the 2 largest shareholders October 2009 MNOK 70 Private Placement October 2009 MNOK 30 Advisor to acquisition

• f power plants in

Salten from Orkla. October 2009 MNOK 4,300 3 & 5 yr bond issue October 2009 MNOK 2,000 Bond issue September 2009 MNOK 400 Private Placement September 2009 MNOK 72 Manager of a FIX bond issue July 2009 N/A Manager of a FRN bond issue July 2009 N/A Estimation of value BKK Fibersatsing August 2009 N/A Sale of ROV Vessels to GC Rieber September 2009 MNOK 800 Share issue August 2009 MNOK 76.5 3 yr bond issue December 2009 MNOK 600

23 Source:

First Securities – selected references

2009

Private Placement June 2009 MUSD 150 Financial restructuring

• f the company

July 2009 N/A 4 yr bond issue June 2009 MNOK 300 4.5 yr bond issue March 2009 MNOK 500 Valuation of Lyse Tele March 2009 N/A Bond Restructuring and established Senior Loan financing April 2009 MUSD 200 Acquisition of Wega Mining ASA May 2009 MNOK 530 Private Placement April 2009 MUSD 110 Sale of CSV North Ocean 103 to Technip June 2009 N/A Manager of a FIX bond issue May 2009 MNOk 90 3 yr bond issue June 2009 MNOK 500 Private Placement June 2009 MNOK 150 Sale of property June 2009 N/A Sale of property June 2009 N/A Sale of property April 2009 MNOK 212.5 Placement towards strategic partner July 2009 N/A Private Placement June 2009 N/A Merger with WellPro AS to form Acona Wellpro AS June 2009 N/A Acquisition of an additional 21% stake in IOS Offshore by NCA (total now 91%) June 2009 N/A Advisor to Interaction AS in connection with the sale of the business to Fugro March 2009 N/A Sale of the company to Lyse Tele June 2009 MNOK 150

24 Source:

First Securities – selected references

2009

Manager of a FIX bond issue March 2009 MNOK 300 Manager of a FRN bond issue March 2009 MNOK 300 Manager of a FRN bond issue February 2009 MNOK 300 Manager of a FRN bond issue February 2009 MNOK 200 Manager of a bond issue February 2009 MNOK 200 Acquisition of ABB Zamech in Poland February 2009 N/A

25 Source:

First Securities – selected references

2008

Private Placement in Global Private Equity II December 2008 MNOK 59.6 Private Placement in Global Infrastruktur II December 2008 MNOK 32.9 Private Placement in Fornybar Energi December 2008 MNOK 46.2 Private Placement in Global Infrastruktur I October 2008 MNOK 77.5 Private Placement in Global Private Equity 2007 AS June 2008 MNOK 127 Lead Manager – Acquisition of property July 2008 MNOK 610 Lead Manager – Acquisition of property June 2008 MNOK 90 Private Placement equity MNOK 70; Subordinated loan MNOK 40; Bond issue MNOK 150 June 2008 MNOK 260 Private Placement June 2008 MNOK 20 Private Placement. June 2008 MUSD 26 Advisor in connection with the aquistion of Standard Engineering and Brevik Engineering December 2008 N/A Sale of 50% and establishing of strategic co-operation December 2008 N/A Fairness opinion in connection with mandatory offer from Canica AS. December 2008 N/A Advisor for Revus Energy in connection with the sale of the company to Wintershall. October 2008 MNOK 5,600 Acquisition of Glitnir Bank by SpareBank1- banks October 2008 MNOK 300 Purchase of a 10% interenst in the Yme oil field from Det norske

• ljeselskap

October 2008 MNOK 390 Financial advisor for selling shareholders August 2008 MNOK 621 Private Placement July 2008 MUSD 3 Private Placement. June 2008 MNOK 324.6 Financial advisor fpr selling shareholders June 2008 MNOK 130 Ekofiskveien 1 Holding AS Lead manager - Sale June 2008 N/A

26 Source:

First Securities – selected references

2008

Merger between Sandsvær Sparebank and SpareBanken Vestfold April 2008 MNOK 1,265 Paid-in equity MUSD 25 June 2008 MUSD 90 Private Placement in Global Infrastruktur 2007 AS June 2008 MNOK 301 Purchase of a 10% interenst in the Yme oil field from Revus Energy May 2008 MUSD 52.5 Private Placement in Global Infrastruktur 2007 AS March 2008 MNOK 679 Purchase of 70% of BOP Stacking Inc. in Houston, Texas May 2008 MNOK 50 Private Placement May 2008 MNOK 366.4 Advisor to the BoD in connection with the

• ffer for Odfjell Invest

March 2008 N/A Advisor to the Board of Directors in connection with the offer from Altor Oil Service Invest March 2008 MNOK 3,900 Sale of Hitec Products Drilling AS to Hitec Vision V March 2008 N/A Strategic and fincancial evaluation of shares in Trøgstad Elverk AS January 2008 N/A Bond issue February 2008 MNOK 125 Acquisition of Teamtrade and merger

• f Team-trade with

Holta and Håland Instrumentering April 2008 MNOK 222.7 Paid-in equity MNOK 192 May 2008 MNOK 656 Acquisition of Ramnäs Bruk AB June 2008 N/A Issue of PCCs May 2008 MNOK 156 Financial advisor January – June 2008 N/A Private Placement April 2008 MNOK 350 Bond issue May 2008 MNOK 200

27 Source:

First Securities – selected references

2007

Private Placement December 2007 MNOK 437.5 Purchase of Palace Exploration UK December 2007 MUSD 258 Private Placement in Global Private Equity 2007 AS December 2007 MNOK 234 Co-manager December 2007 MNOK 160 Lead manager – Acquisition of property December 2007 MNOK 860 Sale of 70% of Barnebygg Gruppen December 2007 N/A Simtronic’s acquisition

• f Etech

December 2007 MNOK 50 Acquisition of Eastern Echo ASA November 2007 MNOK 5,500 Convertible bond issue October 2007 MNOK 74 Private Placement in Global Infrastruktur 2007 AS November 2007 MNOK 1,007 Lead Manager – Acquisition of property October 2007 MNOK 400 Lead manager – Private Placement October 2007 MNOK 205 Private Placement November 2007 MUSD 64 Private Placement November 2007 MNOK 32 Re-placement of convertible bonds October 2007 MNOK 74 Spin-off from

• Kverneland. IPO and
• ffering of new shares

to existing shareholders October 2007 MNOK 61 Bond issue October 2007 MUSD 125 Liquidity bridge October 2007 MUSD 45 Advisor for Det Stavangerske Dampskibsselskap in connection with the acquisition of Tide ASA September 2007 MNOK 28.4 Private Placement and convertible bonds issue November 2007 MUSD 170 IPO and issue of PCCs October 2007 MNOK 118

28 Source:

First Securities – selected references

2007

Private Placement June 2007 MNOK 400 IPO September 2007 MUSD 1 3 yr bond issue July 2007 MNOK 420 Re-placement of convertible bonds July 2007 MNOK 75 Restructuring of convertible bonds and re-placement of own holding Summer 2007 MNOK 200 12 month FRN issue July 2007 MNOK 250 Co-advisor for selling shareholders September 2007 MNOK 165 Public offering July 2007 MNOK31 Convertible bond issue June 2007 MUSD 75 Private Placement June 2007 MNOK 118 Acquisition of property June 2007 MNOK 185 IPO June 2007 N/A Advisor for APL in connection with the acquisition by BW Offshore Ltd July 2007 MNOK 3,400 Private Placement June 2007 MUSD 30 Eiendom Nordvest AS – Lead Manager June 2007 MNOK 215 Private Placement in Global Private Equity 2006 AS June 2007 MNOK 555 Lead manager – Private Placement May 2007 MNOK 150 Ryger Eiendom AS Lead Manager – Acquisition of property Nov 2006 – May 2007 MNOK 625 Public rights issue June 2007 MNOK 105 Financial advisor for seller June 2007 N/A Lead manager – Private Placement June 2007 MNOK 100

29 Source:

First Securities – selected references

2007

Private Placement May 2007 MNOK 396 5 yr bond issue March 2007 MUSD 85 IPO and Private Placement March 2007 MUSD 40 Bank financing from DVB Bank for construction of a FPSO March 2007 MUSD 320 Redomiciliation of the company to Cyprus March 2007 MNOK 3,700 3 yr bond issue April 2007 MNOK 525 Private Placement April 2007 MUSD 101 Acquisition of Fire Protection Engineering April 2007 MNOK 100 Sale to NCA April 2007 N/A Acquisition of Sørco Gruppen AS Spring 2007 N/A 3 yr bond issue May 2007 MNOK 100 Private Placement March 2007 MUSD 50 5 yr bond issue March 2007 MUSD 210 Private Placement March 2007 MUSD 52 Public placement and listing on Oslo Børs. May 2007 MNOK 117 Advisor for Eastern Drilling in connection with the acquisition by Seadrill Ltd. May 2007 MNOK 4,960 Ryger Eiendomsinvest II AS Lead manager May 2007 MNOK 100 5 yr bond issue May 2007 MNOK 600 3 yr loan facility May 2007 MUSD 30 Private Placement May 2007 MNOK 363 Acquisition of property May 2007 MNOK 1,150

30 Source:

First Securities – selected references

2007

Issue of PCCs March 2007 MNOK 580 Lead manager – Acquisition of property February 2007 MNOK 400 5 yr Convertible bond March 2007 MUSD 85 5 year bond issue February 2007 MUSD 175 6 year bond issue January 2007 MNOK 450 Private Placement January 2007 MNOK 110 Private Placement January 2007 MNOK 684 5 year convertible bond issue January 2007 MUSD 25 Private Placement February 2007 MNOK 478 Purchase of the

• utstanding shares in

Sinvest ASA March 2007 MNOK 5,300 2 year bond issue February 2007 MNOK 100 IPO March 2007 N/A 2 year bond issue February 2007 MNOK 100 Financial advisor and manager March 2007 MNOK 198 Convertible bond issue February 2007 MUSD 25 Acquisition of Kentor February 2007 MSEK 290 IPO January 2007 N/A Financial advisor and manager February 2007 MNOK 336

31 Source:

First Securities – selected references

2006

Private Placement October 2006 MUSD 3 Ryger Eiendomsinvest I and II AS: Financial advisor and manager

• Dec. 2006 / May 2007

MNOK 200 Ryger Eiendomsinvest I AS Lead manager December 2006 MNOK 100 Romsdal Eiendom I AS Lead Manager - Sale October 2006 MNOK 80 Convertible bonds issue December 2006 MUSD 30 Private Placement October 2006 MNOK 111 Private Placement December 2006 MNOK 170 Redomiciliation of the company to Cyprus December 2006 MNOK 2,400 Merger between SportsClub and Elixia 2006 N/A Incorporation and a share issue December 2006 MNOK 500 Acquisition of Vinhøg AS December 2006 MNOK 320 IPO and Private Placement December 2006 MNOK 500 Establishment of and share issue for a find- in-fund structure for financial investments within the energy sector December 2006 MNOK >800 Financial advisor in connection with the acquisition of property November 2006 MNOK 800 Financial advisor and manager December 2006 MNOK 203 Financial advisor for selling shareholders November 2006 MNOK 287 Merger between Ørsta Gruppen and Euroskilt to form Saferoad November 2006 N/A Private Placement in Global Private Equity 2006 AS October 2006 MNOK 430 Private Placement October 2006 MNOK 238 Incorporation and a share issue in the private equity fund Såkorn Invest II October 2006 MNOK 330 IPO of Pertra ASA November 2006 MNOK 50

32 Source:

First Securities – selected references

2006

Kanalveien Eiendom AS – Lead Manager June 2006 MNOK 130 Private Placement in Pertra ASA October 2006 MNOK 600 Private Placement equity and convertible bond September 2006 MNOK 211 Purchase of 33.8% of the shares in Sinvest ASA June 2006 MNOK 2,800 Lead Manager September 2006 N/A Lead Manager – Acquisition of property August 2006 MNOK 4,400 Lead Manager - Placement August 2006 MNOK 900 5 yr bond issue September 2006 MNOK 500 Private Placement and following offering of shares June 2006 MUSD 224 Forus Park Holding AS Lead Manager - Sale August 2006 N/A Advisor in connection with the acquisition by Telia Sonera June 2006 MNOK 1,900 Private Placement May 2006 MUSD 78 Nådlandskroken 11 Holding AS – Lead Manager June 2006 MNOK 125 Trøndelag Eiendom I – Solsiden Assistance acquisition June 2006 MNOK 1,000 Lead Manager August 2006 N/A Private Placement September 2006 MNOK 211 Magnus Paulsens v. 7 – Lead manager June 2006 MNOK 136 Victoria Norge AS Lead Manager - sale August 2006 N/A Advisor for the board in connection with the acquisition offer from Ergo Group July 2006 MNOK 508.5 Private Placement June 2006 MNOK 420 Private Placement May 2006 MNOK 35

33 Source:

First Securities – selected references

2006

Private Placement and following offering of shares April 2006 MNOK 1,100 Foundation of the company and Private Placement April 2006 MUSD 15.1 Forushagen KS – Lead Manager May 2006 N/A Rogaland Næringseien- dom I AS – Lead Manager May 2006 N/A Private Placement May 2006 MNOK 274.4 5 yr convertible bond issue March 2006 MUSD 25 Private Placement and a convertible bond issue March 2006 MUSD 240 Advisor in connection with the acquisition of 22 shipbuilding contracts March 2006 MUSD 394 Private Placement January 2006 MNOK 166.5 Sale of shares in connection with the exercise of employee share options March 2006 MNOK 39.4 5 yr bond issue January 2006 MNOK 300 Call of employee share

• ptions and a

subsequent secondary sale of shares March 2006 MNOK 33 Løwenstrasse Eiendom Holding AS – Lead Manager January 2006 MNOK 125.75 Romsdal Eiendom I AS – Lead Manager February 2006 MNOK 160 5 yr bond issue March 2006 MNOK 300 Advisor for Kverva Holding AS and SalMar ASA in connection with sale of shares April 2006 MNOK 935 Acquisition of Norse Oilfield Services AS April 2006 N/A Acquisition of Technor ASA May 2006 MNOK 558.4 C4 Markens / Bo Invest AS – Acquisition of property March 2006 N/A Private Placement January 2006 MUSD 80

34 Source:

First Securities – selected references

2005

5 yr bond issue December 2005 MNOK 200 Private Placement December 2005 N/A IPO December 2005 MNOK 37.5 Private Placement November 2005 MUSD 50 Dusvika Park Holding AS – Lead Manager November 2005 MNOK 160 Secondary sale of shares to Smedvig ASA who increased from 25% to 39.75% September 2005 MNOK 1.115 IPO and public share issue September 2005 MNOK 34 Private Placement and convertible bond issue June 2005 MNOK 735 Private Placement August 2005 MUSD 111 IPO July 2005 MNOK 100 IPO Private Placement Convertible bond issue June 2005 MUSD 250 Bank financing from DnB NOR regarding a semi-submersible

• ffshore drilling unit

June 2005 MUSD 300 Advisor for C.Tybring- Gjedde ASA in connection with the integration with Andvord AS August 2005 MNOK 850 Public rights issue September 2005 MNOK 107.3 Private Placement October 2005 MNOK 550 Trysil Høyfjellsgrend II KS – Lead Manager August 2005 MNOK 190 Acquisition of broadband assets from Agder Energy AS December 2005 MNOK 107 Ågotnes Eiendom Holding AS – Lead Manager December 2005 MNOK 144 IPO and issue of PCCs in Rygge-Vaaler Sparebank October 2005 MNOK 160 Private Placement June 2005 MNOK 100 Private Placement June 2005 MNOK 144.3

35 Source:

First Securities – selected references

2005

Private Placement and convertible bond issue April 2005 MNOK 500 IPO March 2005 MNOK 458 Private Placement December 2005 N/A Acquisition of Firstmile March 2005 MNOK 20 IPO June 2005 MNOK 1,155 Mezzanine financing April 2005 MNOK 190 IPO May 2005 MNOK 64 Forus Park Holding – Lead Manager June 2005 MNOK 253 Acquisitions of hotels May 2005 MNOK 386 Private Placement in the real estate fund Selvaag Pluss May 2005 MNOK 450 Selvaag Pluss Lead Manager Fund Structure May 2005 MNOK 450 Rights issue and an employee placing of PCCs May 2005 MNOK 483 Trøndelag Eiendom II – Lead Manager June 2005 MNOK 737 Magnus Poulssonsv. 7 – Lead Manager May 2005 MNOK 123 Refinancing of the company and a public share issue May 2005 MNOK 200 Private Placement May 2005 MNOK 34.2 IPO February 2005 MNOK 80 Adviser in connection with a possible merger between Kanal 24 and Radio P4 February 2005 N/A Kontorbygg Holding I – Lead Manager January 2005 MNOK 2,100 IPO June 2005 MNOK 767 Private Placement of MUSD 13 growth finance to permit a LNG regasification terminal March 2005 MNOK 696

36 Source:

First Securities – selected references

2005

Sale of a 20%

• wnership stake in

Aker Yards ASA for Aker ASA January 2005 MNOK 696 Ekofiskveien I Holding – Lead Manager January 2005 MNOK 109.2 Acquisition of 100% of the shares in Romsdals Fellesbank January 2005 MNOK 1,100

37 Source:

First Securities – selected references

2004

Petroleumsveien 6 AS – Lead Manager December 2004 MNOK 119.2 Merger with Sparebanken Rana December 2004 MNOK 1,100 Refinancing of the company and a public rights issue September 2004 MNOK 176.3 Trøndelag Eiendom I – Lead Manager November 2004 MNOK 825 Private and public share issue July 2004 MNOK 185.5 Sale of a 35.16%

• wnership stake in TTS

Marine AS December 2004 MNOK 104.6 3 year bond issue September 2004 MNOK 100 Sale of Høili’s wholesale operations and Europris to Industrikapital June 2004 N/A Sale of approx. 4% of the outstanding shares for a group of insiders September 2004 MNOK 27.9 Private Placement December 2004 MNOK 98.2 Private Placement December 2004 MNOK213 Valuation and a commercial evaluation

• f oil fields

December 2004 N/A Fridheimveien 2 KS – Lead Manager December 2004 MNOK 53.8 Sale of 20% of the shares in E-CO Vann- kraft AS and entering of a power contract September 2004 MNOK 4,800 Bond issue June 2004 MNOK 400 Private and Public Placement June 2004 MNOK 153.4 Possible acquisition of Hafslund ASA May 2004 N/A Incorporation and private share issue in the investment company Viking Venture II AS December 2004 MNOK 360 Sale of Sense Communications International AS to Vollvik Gruppen December 2004 MNOK 525 Sale of Norsk Kylling, Norsk Kalkun, Norsk Kylling Eiendom and Arne Magnussen AS to CapMan December 2004 N/A Acquisition of 100% of the outstanding shares by Islandsbanki December 2004 MNOK 3,300

38 Source:

First Securities – selected references

2004

Sale of a 5.1%

• wnership share in

Lerøy Seafood Group ASA March 2004 MNOK 69.8 Rogaland Næringseieindom I KS – Lead Manager May 2004 MNOK 370 IPO of Aker Yards ASA May 2004 N/A Valuation of TV Norge ASA May 2004 N/A MBO January 2004 N/A Incorporation of and share issue in Sector Speculare AS February 2004 MNOK 148.5 Secondary sale of shares to institutional investors in Norway and internationally March 2004 MNOK 144 Public and private share issue April 2004 MNOK 226.6

39 Source:

First Securities – selected references

2003

Lead Manager – Joint Venture real estate development June 2003 MEUR 400 Fairness opinion in connection with APR Media Holding’s acquisition of A- pressen August 2003 MNOK 575 Clarion Airport Hotel Oslo AS December 2003 MNOK 435 Sydkraft’s transfer of shares in Fredrikstad Energiverk to Fortum December 2003 N/A IPO December 2003 MNOK 127.5 Øksnavad Eiendom – Lead Manager December 2003 MNOK 142.5 Convertible bond issue March 2003 MNOK 97 Acquisition of a 33.4%

• wnership stake in

Hafslund ASA May 2003 MNOK 943 Acquisition of Statkraft’s shareholding in Hedmark Energi AS May 2003 N/A Sale of Pan Pelagic ASA to Welcon ASA June 2003 MNOK 170 Public and private share issue June 2003 MNOK 84.3 Restructuring of the bank’s loan commitments with Midnor Group AS June 2003 MNOK 400 Sale of Nye Midnor ASA to Lerøy Seafood Group ASA November 2003 MNOK 600 Sale of 8.1% of Salten Kraftsamband November 2003 N/A Incorporation of Marin Vekst ASA and share issue November 2003 MNOK 100 Possible acquistion of SND Invest August 2003 N/A Public rights issue, private share issue and an employee share issue June 2003 MNOK 107.1 Fairness opinion in connection with the acquisition by Aequitas Holding AS May 2003 MNOK 3,500 Sale of ownership stake in Statnett Entrepenør April 2003 N/A Kanalveien 5 KS – Lead Manager April 2003 MNOK 104 Acquisition of Roxar ASA and loan

• financing. Borrowing

limit: approx. MNOK 140 February 2003 MNOK 478

40 Source:

First Securities – selected references

2003

Acquisition of Hydralift ASA January 2003 MUSD 300 Refinancing of debt, private share issue and public rights issue February 2003 N/A Acquisition of Nordlandsbanken ASA February 2003 MNOK 1,050 Merger with Bergen Nordhordland Rutelag ASA and subsequent IPO of TFDS January 2003 MNOK 1,300 Acquisition of Oceanor Holding ASA February 2003 MNOK 40.1

41 Source:

First Securities – selected references

2002

Private Placement and secondary sale of shares January 2002 MNOK 304.2 Proposed merger with Storebrand ASA Cancelled N/A Preparation of a prospectus, incor- poration of the company and share issue March 2002 N/A Incorporation of Energivekst AS and a private share issue March 2002 MNOK 700 Private Placement March 2002 MNOK 300 Bond issue March 2002 MNOK 700 Acquisition of Hitec Marine ASA August 2002 N/A Possible bid for Navion December 2002 N/A Bond issue December 2002 MNOK 300 Bond issue December 2002 MNOK 220 Incorporation of the venture fund Northzone IV December 2002 MNOK 350 Advisory services in connection with structuring of the inland power region September 2002 N/A Forushagen KS – Lead Manager December 2002 MNOK 311 Aquisition of Reitan Narvesen ASA January 2002 MNOK 3,700 Sale of a 10%

• wnership stake in

Nordlandsbanken February 2002 MNOK 166 Proposed merger with P&O Princess Cruises Ltd 2002 N/A Public share issue June 2002 MNOK 49.3

42 Source:

First Securities – selected references

2001

Acquisition of Pan Pelagic ASA December 2001 MNOK 369.6 Demerger, IPO and public rights issue of Pan Marine ASA June 2001 MNOK 300 Certificate issue May 2001 MNOK 500 Merger with Viken Energinett AS December 2001 MNOK 3,000 Bond issue December 2001 MNOK 1,100 Incorporation of the technology fund Viking Venture AS May 2001 MNOK 165.5 Two Private Placements December 2001 MNOK 552 Valuation in connection with share issue and private placement from

• wners to Statkraft SF

December 2001 MNOK 3,250 Bond issue November 2001 MNOK 400 IPO June 2001 MNOK 26,400 Sale of 2 FPSO ships to Bluewater S.A. July 2001 N/A Proposed acquisition of Australian company Nautronix August 2001 N/A IPO June 2001 MNOK 145 Acquisition of SE Labels ASA December 2001 MNOK 337 Evaluation of a possible

• ffer for the 33% share

in TV2 ASA 2001 N/A IPO June 2001 MNOK 180 Acquisition of shares in Eidsiva Energi AS May 2001 MNOK 1,200 Share issue May 2001 N/A Convertible bond issue May 2001 MNOK 500 Sale of Trondheim Energiverk to Statkraft SF December 2001 MNOK 5,600 Private Placements December 2001 MNOK 109

43 Source:

First Securities – selected references

2001

Advisor to Aker Maritime ASA regarding sale of Aker Geo January 2001 MNOK 1,100 Fairness opinion in connection with the aquisition of Nortrans Offshore Limited March 2001 N/A Sale of Procon Engineering AS March 2001 MNOK 118 Merger with OdinmHolding ASA March 2001 N/A Acquisition of the company by Fred. Olsen Energy ASA January 2001 MNOK 2,800 Acquisition of 66% of Arcus March 2001 MNOK 340 Vattenfall’s transfer of shares in Fredrikstad Energiverk to Sydkraft AB March 2001 MNOK 900 Ownership stake in Haugaland Kraft AS March 2001 N/A Evaluation of various strategic and financial issues March 2001 N/A Public rights issue May 2001 MNOK 50 Demerger and IPO of Pan Pelagic ASA May 2001 MNOK 700

44 Source:

First Securities – selected references

2000

Public rights issue December 2000 MNOK 70 3 convertible bond issues December 2000 MNOK 568 Possible acquisition of Kreditkassen 2000 N/A Public share issue October 2000 MNOK 100 Incorporation of Skagerak Energi October 2000 MNOK 10,000 Private Placement October 2000 MNOK 40.8 Offer to acquire all shares in Fesil ASA September 2000 N/A Valuation August 2000 N/A Public rights issue June 2000 MNOK 33.8 Private Placement June 2000 MNOK 35 Co-lead manager for the retail tranche in connection with the IPO December 2000 MNOK 15,600 Acquisition by Scandinavia Online June 2000 N/A Private share issues and purchase of shares April – June 2000 MNOK 52 Public rights issue June 2000 MNOK 202 Acquisition of 49% of the shares in Istad Kraft AS May 2000 N/A Strategic and financial evaluation May 2000 N/A Public rights issue May 2000 MNOK 120 Strategic and financial evaluation of

• wnership strategy

May 2000 N/A Share issue May 2000 N/A Mandatory offer to acquire all outstanding shares in Hitec ASA April 2000 N/A Block transaction Secondary sale of shares March 2000 MNOK 120

45 Source:

First Securities – selected references

2000

Private Placement towards Mohammed Abdul Latif Jameel Company Ltd. February 2000 MNOK 45.4 IPO March 2000 MNOK 1,728 Private Placement March 2000 MNOK 100 Private Placement March 2000 MNOK 108 Private Placement March 2000 MNOK 40 Merger with National Oilwell and establishment of HitecVision February 2000 MNOK 1,400 Private share issue February 2000 MNOK 1,500

46 Source:

First Securities – selected references

1999

Private Placement Tele Danmark purchased a 51% stake December 1999 N/A Secondary sale of shares in ElTele Øst December 1999 N/A Financial advisor November 1999 N/A Incorporation of the venture fund Northzone (VP) Multimedia III November 1999 MNOK 350 Share issue of 33% of the net company October 1999 N/A Acquisition of the Norwegian government’s shares in Sydvaranger ASA October 1999 MNOK 250 Sale of shares in Kvænangen Kraftverk and Ishavskraft October 1999 N/A Long-term loan and credits Repurchase of a convertible loan September 1999 MNOK 613 Purchase of Vestre Toten municipality’s share of TotenKraft AS August 1999 MNOK 100 Private Placement and valuation of Fredrikstad Energiverk AS August 1999 N/A Sale of 49% of Fredrikstad Energiverk to Vattenfall June 1999 MNOK 900 Sale of 49% of Oslo Energi to Vattenfall June 1999 MNOK 1,500 IPO June 1999 N/A

This document was prepared exclusively for the benefit and internal use of selected parties in order to evaluate the feasibility of a possible transaction or transactions and does not carry any right of publication or disclosure to any other party. This document is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by Swedbank First Securities (“Swedbank Norge”). This presentation may not be used for any other purposes without the prior written consent of Swedbank Norge. This presentation is not prepared in accordance with the requirements applying to investment research. This document does not constitute or form part of an offer or invitation or recommendation to subscribe for or purchase any securities. The distribution of this document may be restricted by law in certain jurisdictions, and persons into whose possession this document comes should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such

• jurisdiction. Swedbank Norge shall not have any responsibility for any such violations. Any decision to purchase or subscribe for securities in any
• ffering must be made solely on the basis of the information contained in the prospectus or other offering circular issued in connection with such
• ffering.

In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was otherwise provided to us. The information contained in this document has been taken from sources deemed to be reliable. We do not represent that such information is accurate or complete and it should not be relied on as such. Any opinions expressed herein reflect our judgement at this date, all of which are accordingly subject to change. Swedbank Norge accepts no liability whatsoever for any direct, indirect or consequential loss rising from the use of this document or its contents. Swedbank Norge and/or its employees may hold shares, options or other securities of any issuer referred to in this document and may, as principal or agent, buy or sell such securities. Swedbank Norge may have other financial interests in transactions involving these securities.

47 Source:

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