January – June 2013July 17, 2013

» Report presentation «

financial overview

January – June 2013

• Operating income decreased by 3 percent to SEK 482.3 million (498.3)

• Profit after tax fell by 2 percent to SEK 112.1 million (113.9)

• EPS before dilution were down by 2 percent to SEK 0.64 (0.65)

2

April – June 2013

• Operating income increased by 2 percent to SEK 238.2 million (233.4)

• Profit after tax increased by 33 percent to SEK 54.9 million (41.3)

• EPS before dilution were up by 33 percent to SEK 0.31 (0.24)

events Q2

• Nordnet acquired the majority of the social investing network Shareville

• “Bank/Stockbroker of the Year” in Denmark for the fifth consecutive year

• Removal of purchase and redemption fees on all funds on our Finnish platform

3

+

a pioneer in social investing

customers and accounts

accounts/customer (Q2 2013): 1.23

4

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

Active customers Active accounts

12M: 23,600 / 7%12M: 38,400 / 9%

net savings (SEK billion)

5

12M: SEK 7.3 billion

2.0

1.0

3.6

1.9

0.1

1.3

3.7

2.2

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

trades (thousands)

6

4185

38513973

3055

2841 2871

3531

3075

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

12M: 12,318

lending (SEK billion)

7

3.22 3.043.54

2.93 2.93 2.863.16 3.00

1.481.59

1.65

1.70 1.73 1.80

1.90 2.00

0.00

1.00

2.00

3.00

4.00

5.00

6.00

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

Margin lending Consumer loans

revenue development (SEK million)

8

132 142 137 132 126 126 119 120

128 107 107

8179 77 101 91

1618 20

21

825

2428

0

50

100

150

200

250

300

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q412 Q1 13 Q2 13

Net interest income Net commission income Other income

12M: SEK 922 million

cost development (SEK million incl. credit losses)

9

175

182

172

181

179 179

174

170

164

166

168

170

172

174

176

178

180

182

184

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

12M: SEK 702 million

operating profit excl. eo items (SEK million)

10

101

93 93

53

42

49

7068

0%

5%

10%

15%

20%

25%

30%

35%

40%

0.0

20.0

40.0

60.0

80.0

100.0

120.0

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

Operating profit Operating margin

12M: SEK 229 million

income statement (SEK million)

11

3 months 3 months 6 months 6 months 12M rolling 12 months

Consolidated Income Statement (SEK million) Apr-Jun 2013 Apr-Jun 2012 Jan-Jun 2013 Jan-June 2012 Jul-Jun 2013 Jan-Dec 2012

Net interest income 119.5 132.3 238.4 269.6 489.4 520.6

Net commission income 91.0 80.6 192.3 187.7 348.8 344.2

Other income 27.7 20.5 51.6 40.9 84.3 73.6

Total operating income 238.2 233.4 482.3 489.3 922.4 938.4

General administrative expenses -132.7 -141.2 -269.1 -276.9 -554.4 -562.3

Depeciation and amortization -16.5 -15.8 -32.4 -31.3 -64.2 -63.2

Other operating expenses -9.6 -11.6 -20.5 -21.7 -39.8 -41.1

Total operating expenses -158.8 -168.7 -321.9 -330.0 -658.4 -666.5

Profit before credit losses 79.4 54.7 160.3 168.2 264.0 271.9

Net credit losses -11.5 -11.8 -22.0 -22.8 -43.9 -44.7

Operating profit 67.9 52.9 138.3 145.5 220.1 271.9

Tax on profit for the period -13.0 -11.6 -26.3 -31.6 -32.9 -44.7

Profit for the period 54.9 41.3 112.1 113.9 187.1 227.2

Earnings before dilution 0.31 0.24 0.64 0.65 1.07 1.08

balance sheet (SEK million)

12

Consolidated Statement of Financial Position (SEK million) 30/06/2013 30/06/2012 31/12/2012

Loans to credit institutions 1089.6 1,134.7 1465.0

Loans to the public 5359.7 4,977.4 4737.3

Financial assets 7415.6 5801.9 5388.0

Financial assets - policy holders bearing the risk 21195.9 18,043.1 18961.7

Tangible and intangible assets 504.4 527.2 507.1

Current tax assets 72.3 2.6 7.2

Other assets 905.1 409.9 213.9

Prepaid expenses and accrued income 116.7 111.4 111.8

Total assets 36,659.2 31,008.2 31,391.9

Deposits and borrowing by the public 11,694.7 10,570.6 10,487.7

Liabilit ies to policyholders 21,196.5 18,044.0 18,962.3

Other liabilit ies 2269.8 958.0 427.9

Shareholders' equity 1498.2 1435.6 1514.0

Total liabilities and shareholders' equity 36,659.2 31008.2 31391.9

capital coverage (SEK million)

13

Capital requirements for the financial conglomerate (SEK million) 30/06/2013 30/06/2012 31/12/2012

Total equity, Group 1,498.2 1,435.6 1,514.0

Less, profit that have not been subject to audit -112.1 -41.3 -

Plus subordinated liablities 175.7 175.7 175.7

Less expected div idend for current year - -29.0 -122.5

Less intangible fixed assets and deferred tax receivables -471.0 -495.5 -475.3

Capital base 1,090.9 1,045.5 1,091.9

Capital requirement for regulated units within the banking

and securities sector520.9 499.7 444.2

Theoretical solvency requirement for non-regulated units in

the largest financial sector 0.92.1 0.8

Capital requirement for regulated units within the insurance

sector 31.930.7 32.2

Capital requirement 553.7 532.5 477.2

Capital surplus 537.2 513.0 614.7

Capital coverage ratio 1.97 1.96 2.29

looking ahead

• Continue to build our position as the leading online bank in the Nordics

• Focus on innovation and social investing

• Provide superior digital customer experience

• Active cost management and a scalable operating model

14

more information:

nordnetab.com

become a customer:

nordnet.se/no/dk/fi

follow:

nordnetbloggen.se

Twitter @CEONordnet

15