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<br /> To NASDAQ OMX Copenhagen A/S<br /> and the press 8 November 2012<br /> Q1-Q3 INTERIM REPORT – THE NYKREDIT REALKREDIT GROUP<br /> 1 JANUARY 2012 – 30 SEPTEMBER 2012<br />  The Nykredit Realkredit Group recorded a profit before tax of DKK 3,207m against DKK 1,286m for Q1-Q3/2011<br />  Core income from business operations increased by 11.8%<br />  Gross new mortgage lending rose by 73% to DKK 173bn against DKK 100bn in Q1-Q3/2011<br />  In Q1-Q3/2012 nominal mortgage lending and bank lending grew by a total of DKK 35bn to DKK 1,159bn<br />  Operating costs, depreciation and amortisation, excluding special value adjustments, rose by 1.5%<br />  Costs as a percentage of core income from business operations declined to 56.4% against 62.1% in Q1-Q3/2011<br />  Impairment losses on loans and advances stood at DKK 1,533m, equal to 0.13%<br /<a title="q3-interim-report-2012-nykredit-realkredit page 1" href="http://viewer.zmags.com/publication/e90995ef?page=1"> To NASDAQ OMX Copenhagen A/S and the press</a> <a title="q3-interim-report-2012-nykredit-realkredit page 2" href="http://viewer.zmags.com/publication/e90995ef?page=2"> MANAGEMENT'S REVIEW FINANCIAL HIGHLIGHTS De n</a> <a title="q3-interim-report-2012-nykredit-realkredit page 3" href="http://viewer.zmags.com/publication/e90995ef?page=3"> MANAGEMENT'S REVIEW Q1-Q3 INTERIM REPORT 2012 </a> <a title="q3-interim-report-2012-nykredit-realkredit page 4" href="http://viewer.zmags.com/publication/e90995ef?page=4"> MANAGEMENT'S REVIEW The Group's impairment los</a> <a title="q3-interim-report-2012-nykredit-realkredit page 5" href="http://viewer.zmags.com/publication/e90995ef?page=5"> MANAGEMENT'S REVIEW BUSINESS AREAS Nykredit </a> <a title="q3-interim-report-2012-nykredit-realkredit page 6" href="http://viewer.zmags.com/publication/e90995ef?page=6"> MANAGEMENT'S REVIEW Results – Retail Q1-Q3/</a> <a title="q3-interim-report-2012-nykredit-realkredit page 7" href="http://viewer.zmags.com/publication/e90995ef?page=7"> MANAGEMENT'S REVIEW Arrears ratio, mortgage len</a> <a title="q3-interim-report-2012-nykredit-realkredit page 8" href="http://viewer.zmags.com/publication/e90995ef?page=8"> MANAGEMENT'S REVIEW Results – Totalkredit Partn</a> <a title="q3-interim-report-2012-nykredit-realkredit page 9" href="http://viewer.zmags.com/publication/e90995ef?page=9"> MANAGEMENT'S REVIEW Results – Wholesale Q1-</a> <a title="q3-interim-report-2012-nykredit-realkredit page 10" href="http://viewer.zmags.com/publication/e90995ef?page=10"> MANAGEMENT'S REVIEW Results – Wholesale </a> <a title="q3-interim-report-2012-nykredit-realkredit page 11" href="http://viewer.zmags.com/publication/e90995ef?page=11"> MANAGEMENT'S REVIEW Results – Group Items Q</a> <a title="q3-interim-report-2012-nykredit-realkredit page 12" href="http://viewer.zmags.com/publication/e90995ef?page=12"> MANAGEMENT'S REVIEW EQUITY AND CAPITAL ADEQUAC</a> <a title="q3-interim-report-2012-nykredit-realkredit page 13" href="http://viewer.zmags.com/publication/e90995ef?page=13"> New regulation The EU is expected to finalise new</a> <a title="q3-interim-report-2012-nykredit-realkredit page 14" href="http://viewer.zmags.com/publication/e90995ef?page=14"> MANAGEMENT'S REVIEW LENDING The Nykredit Rea</a> <a title="q3-interim-report-2012-nykredit-realkredit page 15" href="http://viewer.zmags.com/publication/e90995ef?page=15"> MORTGAGE LENDING The Group's credit exposure to n</a> <a title="q3-interim-report-2012-nykredit-realkredit page 16" href="http://viewer.zmags.com/publication/e90995ef?page=16"> MANAGEMENT'S REVIEW The Nykredit Realkredit Gro</a> <a title="q3-interim-report-2012-nykredit-realkredit page 17" href="http://viewer.zmags.com/publication/e90995ef?page=17"> MANAGEMENT'S REVIEW Earnings impact For the pe</a> <a title="q3-interim-report-2012-nykredit-realkredit page 18" href="http://viewer.zmags.com/publication/e90995ef?page=18"> MANAGEMENT'S REVIEW LIQUIDITY AND FUNDING LI</a> <a title="q3-interim-report-2012-nykredit-realkredit page 19" href="http://viewer.zmags.com/publication/e90995ef?page=19"> MANAGEMENT'S REVIEW RATINGS In Q2/2012 Standar</a> <a title="q3-interim-report-2012-nykredit-realkredit page 20" href="http://viewer.zmags.com/publication/e90995ef?page=20"> MANAGEMENT STATEMENT STATEMENT BY THE BOARD OF</a> <a title="q3-interim-report-2012-nykredit-realkredit page 21" href="http://viewer.zmags.com/publication/e90995ef?page=21"> Q1-Q3 FINANCIAL STATEMENTS 2012 Income statemen</a> <a title="q3-interim-report-2012-nykredit-realkredit page 22" href="http://viewer.zmags.com/publication/e90995ef?page=22"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statements of c</a> <a title="q3-interim-report-2012-nykredit-realkredit page 23" href="http://viewer.zmags.com/publication/e90995ef?page=23"> Q1-Q3 FINANCIAL STATEMENTS 2012 Balance sheets,</a> <a title="q3-interim-report-2012-nykredit-realkredit page 24" href="http://viewer.zmags.com/publication/e90995ef?page=24"> Q1-Q3 FINANCIAL STATEMENTS 2012 Balance sheets,</a> <a title="q3-interim-report-2012-nykredit-realkredit page 25" href="http://viewer.zmags.com/publication/e90995ef?page=25"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statement of ch</a> <a title="q3-interim-report-2012-nykredit-realkredit page 26" href="http://viewer.zmags.com/publication/e90995ef?page=26"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statement of ch</a> <a title="q3-interim-report-2012-nykredit-realkredit page 27" href="http://viewer.zmags.com/publication/e90995ef?page=27"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statement of ch</a> <a title="q3-interim-report-2012-nykredit-realkredit page 28" href="http://viewer.zmags.com/publication/e90995ef?page=28"> Q1-Q3 FINANCIAL STATEMENTS 2012 Capital base an</a> <a title="q3-interim-report-2012-nykredit-realkredit page 29" href="http://viewer.zmags.com/publication/e90995ef?page=29"> Q1-Q3 FINANCIAL STATEMENTS 2012 Core earnings a</a> <a title="q3-interim-report-2012-nykredit-realkredit page 30" href="http://viewer.zmags.com/publication/e90995ef?page=30"> Q1-Q3 FINANCIAL STATEMENTS 2012 Cash flow state</a> <a title="q3-interim-report-2012-nykredit-realkredit page 31" href="http://viewer.zmags.com/publication/e90995ef?page=31"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-realkredit page 32" href="http://viewer.zmags.com/publication/e90995ef?page=32"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes ACCOUN</a> <a title="q3-interim-report-2012-nykredit-realkredit page 33" href="http://viewer.zmags.com/publication/e90995ef?page=33"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK </a> <a title="q3-interim-report-2012-nykredit-realkredit page 34" href="http://viewer.zmags.com/publication/e90995ef?page=34"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK milli</a> <a title="q3-interim-report-2012-nykredit-realkredit page 35" href="http://viewer.zmags.com/publication/e90995ef?page=35"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes Nykredit </a> <a title="q3-interim-report-2012-nykredit-realkredit page 36" href="http://viewer.zmags.com/publication/e90995ef?page=36"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK milli</a> <a title="q3-interim-report-2012-nykredit-realkredit page 37" href="http://viewer.zmags.com/publication/e90995ef?page=37"> Notes Q1-Q3/2011 5,838 1,064 4,773 41,631 8</a> <a title="q3-interim-report-2012-nykredit-realkredit page 38" href="http://viewer.zmags.com/publication/e90995ef?page=38"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes Nykredit </a> <a title="q3-interim-report-2012-nykredit-realkredit page 39" href="http://viewer.zmags.com/publication/e90995ef?page=39"> Notes Nykredit Realkredit A/S 31.12.2011 30.09.20</a> <a title="q3-interim-report-2012-nykredit-realkredit page 40" href="http://viewer.zmags.com/publication/e90995ef?page=40"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK mi</a> <a title="q3-interim-report-2012-nykredit-realkredit page 41" href="http://viewer.zmags.com/publication/e90995ef?page=41"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK mi</a> <a title="q3-interim-report-2012-nykredit-realkredit page 42" href="http://viewer.zmags.com/publication/e90995ef?page=42"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes Nykredit </a> <a title="q3-interim-report-2012-nykredit-realkredit page 43" href="http://viewer.zmags.com/publication/e90995ef?page=43"> Notes 31.12.2011 - 1,981 1,981 - - - - </a> <a title="q3-interim-report-2012-nykredit-realkredit page 44" href="http://viewer.zmags.com/publication/e90995ef?page=44"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes 23. OFF</a> <a title="q3-interim-report-2012-nykredit-realkredit page 45" href="http://viewer.zmags.com/publication/e90995ef?page=45"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK m</a> <a title="q3-interim-report-2012-nykredit-realkredit page 46" href="http://viewer.zmags.com/publication/e90995ef?page=46"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK m</a> <a title="q3-interim-report-2012-nykredit-realkredit page 47" href="http://viewer.zmags.com/publication/e90995ef?page=47"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK mi</a> <a title="q3-interim-report-2012-nykredit-realkredit page 48" href="http://viewer.zmags.com/publication/e90995ef?page=48"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes DKK mi</a> <a title="q3-interim-report-2012-nykredit-realkredit page 49" href="http://viewer.zmags.com/publication/e90995ef?page=49"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a>