The interim report summarizes Nordnet's financial performance for the first quarter of 2012. Key points include: - Operating income decreased 9% to SEK 264.9 million while profit after tax fell 8% to SEK 72.5 million. - The number of active customers grew to 350,700, up 9% from the previous year. Total trades were nearly 4 million. - Net savings increased slightly to SEK 3.6 billion while total savings capital was SEK 101 billion. - Strategic priorities are focused on having the most satisfied customers and strengthening the brand as a leading savings bank in the Nordic region.

1. » satisfied customers in focus «
Interim report January – March 2012
Jacob Kaplan, acting CEO
live tweet: twitter.com/nordnet, #nnq112

2. 2
financial overview (january-march)
• Operating income decreased by 9 percent to SEK 264.9 million (290.1)
• Profit after tax fell by 8 percent to SEK 72.5 million (78.8)
• EPS before dilution were down by 8 percent to SEK 0.41 (0.45)
operating profit net savings total savings capital
92.6 (99.3) 3.6 (5.2) 101.0 (106.2)
million Swedish kronor billion Swedish kronor billion Swedish kronor
number of active customers number of trades cost coverage
350,700 (322,800) 3,972,500 (4,175,300) 98 (90)
percent

3. 3
events (january-march)
• Market recovery
• Increasing market shares
• Bank/broker of the year in
Denmark for 4th consecutive year
• ISK launched in Sweden
• Håkan Nyberg appointed new
CEO (begins no later than
1 September)

4. 4
customers and accounts
Accounts/customer (Q1 2012): 1.19

5. 5
number of trades (thousands)

6. 6
net savings (million)

7. 7
revenue development (million)

8. 8
cost development (million, incl. credit losses)

9. 9
operating profit excl. eo items (million)

10. 10
3 months 3 months 12m rolling 12 months
Consolidated Income Statement (SEK million) jan-mar 2012 jan-mar 2011 apr-mar 2012 jan-dec 2011
Net interest income 137.3 133.7 551.0 547.3
Net commission income 107.1 132.8 434.6 460.3
Other income 20.4 23.6 73.5 76.7
Total operating income 264.9 290.1 1,059.0 1,084.2
General administrativ e expenses -135.7 -149.4 -554.8 -568.5
Depreciation and amortization -15.5 -18.6 -66.2 -69.3
Other operating expenses -10.1 -11.1 -53.1 -54.1
Total operating expenses -161.3 -179.1 -674.1 -691.9
Profit before credit losses 103.6 111.0 384.9 392.3
Net credit losses -11.0 -11.7 -40.2 -40.9
Operating profit 92.6 99.3 344.7 351.5
Tax on profit for the period -20.0 -20.6 -80.8 -81.3
Profit for the period 72.5 78.8 263.9 270.1
Earnings per share before dilution 0.41 0.45 1.51 1.54

11. 11
Consolidated Statement of Financial Position (SEK million) 31/03/2012 31/03/2011 31/12/2011
Loans to credit institutions 686 803 1,838
Loans to the public 5,388 6,430 4,630
Financial assets 5,345 2,959 5,172
Financial assets - policy holders bearing the risk 18,618 19,639 16,463
Tangible and intangible assets 537 577 546
Other assets 277 355 413
Total assets 30,850 30,763 29,062
Deposits and borrowing by the public 9,959 9,042 10,708
Liabilities to policyholders 18,619 19,641 16,465
Other liabilities 761 766 460
Shareholders' equity 1,510 1,313 1,429
Total liabilities and shareholders' equity 30,850 30,763 29,062

12. 12
Capital requirements for the financial conglomerate (SEK million) 31/03/2012 31/03/2011 31/12/2011
Shareholder's equity, Group 1,510.2 1,313.4 1,429.3
Plus debenture loan 175.7 175.7 175.7
Less proposed div idend for the 2011 financial year -113.8 -87.5 -
Less assumed div idend for the 2012 financial year -29.0 -31.5 -113.8
Less intangible fixed assets and deferred tax receiv ables -507.2 -544.7 -513.3
Capital base 1,035.9 825.4 977.9
Capital requirement for regulated units within the banking and securities sector 475.7 483.6 467.3
Theoretical solv ency requirement for non-regulated units in the largest financial sector 1.2 2.0 1.6
Capital requirement for regulated units within the insurance sector 31.1 26.2 26.0
Capital requirement 508.0 511.8 494.9
Capital surplus 527.9 313.6 483.0
Capital coverage ratio 2.04 1.61 1.98

13. 13
strategic priorities
• Most satisfied customers
• Strong brand leading bank for
savings in the
nordic region
• Improved profit levels

14. 14
satisfied customers

15. 15
more information:
org.nordnet.se
become a customer:
nordnet.se/no/fi/dk