Company Announcement No. 12, 2016 - Auction of Covered Mortgage Bonds in Nordea Kredit Realkreditaktieselskab

Regulatory News:

The refinancing of Nordea Kredit’s (CSE:NDAR) adjustable rate mortgages maturing on 1 April 2016 will be carried out by an auction of covered mortgage bonds (SDRO).

The dates of the auction and the terms and conditions were published in company announcement No. 3 to the NASDAQ Copenhagen on 8 January 2016.

The auctions will take place during the period Tuesday 9 February through Thursday 11 February 2016.

The auctioned bonds are rated Aaa by Moody’s and AAA by Standard & Poor’s,

The auctions will open daily at 10:00 and close at 11:30 and 13:00 respectively, with allocation of accepted bids at 11:40 and 13:10, respectively.

Bids in bonds with 1-year maturity denominated in DKK and EUR can be placed with 3 decimals. Bids in other auctioned bonds can be placed with up to 2 decimals.

Nordea Kredit is not obliged to sell the full amounts announced.

The settlement date is 1 April 2016. Amounts for sale will be issued in VP Friday 5 February 2016.

Auction results as well as calculated interest rates will be published daily at: nordeakredit.dk, "Investor Information” and at: Nordea.dk/nyrente.

The auctions will be executed according to the timetable on the following page (see attached PDF-fil).

The investors are offered the option of delivery of the bonds purchased at the action with spot settlement provided that the investors deliver maturing Nordea Kredit non-callable bullets. Investors who wish to make use of this option should contact Peter Brag or Juho-Pekka Jääskeläinen on the auction day before 14.00.

Yours faithfully

Nordea Kredit Realkreditaktieselskab

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