Nordnet's interim report presentation for the period January - September 2012.

1. » continuous changes in market «
Interim report January – September 2012

2. 2
financial overview
January-September July-September
• Operating income decreased by • Operating income decreased by
13 percent to SEK 710.7 million 23 percent to SEK 212.5 million
(818.0) (276.3)
• Profit after tax fell by 36 percent to • Profit after tax fell by 72 percent to
SEK 135.9 million (212.1) SEK 22.0 million (77.6)
• EPS before dilution were down by • EPS before dilution were down by
36 percent to SEK 0.78 (1.21) 72 percent to SEK 0.13 (0.44)

3. 3
low activity behind decreased profit
number of trades (thousands)

4. 4
net savings (SEK billion)

5. 5
customers and accounts
Accounts/customer (Q3 2012): 1.20

6. 6
revenue development (SEK million)

7. 7
cost development (SEK million, incl. credit losses)

8. 8
operating profit excl. eo items (SEK million)

9. 9
income statement (SEK million)
3 months 3 months 9 months 9 months
Consolidated Income Statement (SEK million) jul-sep 2012 jul-sep 2011 jan-sep 2012 jan-sep 2011
Net interest income 125.5 132.4 395.1 405.3
Net commission income 79.2 128.3 266.9 353.7
Other income 7.9 15.7 48.8 59.1
Total operating income 212.5 276.3 710.7 818.0
General administrativ e expenses -144.6 -134.4 -421.5 -429.0
Depreciation and amortization -15.7 -17.5 -47.1 -53.6
Other operating expenses -9.4 -13.8 -31.1 -35.5
Total operating expenses -169.7 -165.6 -499.7 -518.1
Profit before credit losses 42.8 110.7 211.0 299.9
Net credit losses -9.7 -9.7 -32.5 -32.9
Operating profit 33.0 101.0 178.5 267.0
Tax on profit for the period -11.0 -23.4 -42.6 -54.9
Profit for the period 22.0 77.6 135.9 212.1
Earnings per share before dilution 0.13 0.44 0.78 1.21

10. 10
balance sheet (SEK million)
Consolidated Statement of Financial Position (SEK million) 2012-09-30 2011-09-30 2011-12-31
Loans to credit institutions 861 900 1 838
Loans to the public 5 046 4 701 4 630
Financial assets 6 648 6 212 5 172
Financial assets - policy holders bearing the risk 18 954 16 421 16 463
Tangible and intangible assets 515 561 546
Other assets 278 297 413
Total assets 32 303 29 092 29 062
Deposits and borrowing by the public 10 485 10 476 10 708
Liabilities to policyholders 18 955 16 422 16 465
Other liabilities 1 403 803 460
Shareholders' equity 1 461 1 391 1 429
Total liabilities and shareholders' equity 32 303 29 092 29 062

11. 11
capital coverage (SEK million)
Capital requirements for the financial conglomerate (SEK million) 2012-09-30 2011-09-30 2011-12-31
Shareholder's equity, Group 1 460,5 1 391,1 1 429,3
Plus debenture loan 175,7 175,7 175,7
Less assumed div idend for the current financial year -54,4 -84,8 -113,8
Less intangible fixed assets and deferred tax receiv ables -482,6 -533,0 -513,3
Capital base 1 099,3 949,0 977,9
Capital requirement for regulated units within the banking and securities sector 503,0 480,5 465,8
Theoretical solv ency requirement for non-regulated units in the largest financial sector 0,8 2,1 1,6
Capital requirement for regulated units within the insurance sector 30,6 25,9 26,0
Capital requirement 534,4 508,6 493,4
Capital surplus 564,9 440,4 484,5
Capital coverage ratio 2,06 1,87 1,98

12. 12
events during Q3
• Håkan Nyberg new CEO from August
• Livförsäkringsutredningen published
• Strong momentum in Denmark
• Strengthened fund offering in Finland
• Improved digital experience

13. 13
looking ahead
• Growth through innovation and customer
insight
• Continued focus on non-transaction related
income
• Cost level reasonable in current market
conditions

14. the nordnet model

15. 15
our vision
leading bank for
savings in the nordic
region by 2018
• most satisfied customers
• strong brand
• improved profit levels

16. 16
more information:
org.nordnet.se
become a customer:
nordnet.se/no/fi/dk