Resolutions of the sole shareholder of AB DNB Bankas

On 24 March 2014 the sole shareholder of AB DNB Bankas, company code 112029270, VAT payer code LT120292716, registered office at J. Basanavičiaus St. 26, Vilnius, the data is collected and stored at the Register of Legal Entities, Bankas (hereinafter – the “Bank”) DNB Bank ASA:

1. acknowledged the Bank‘s consolidated annual report and approved the set of annual financial statements - the separate and consolidated financial statements for the year ended 31 December 2013.

2. approved distribution of the profit (loss) of the Bank. It was decided to allocate the 2013 net result of LTL 57.1 million (EUR 16.5 million) to the distributable profit of the Bank equal to LTL 144.6 million (EUR 41.9 million). LTL 7.2 million (EUR 2.1 million) from the distributable profit shall be allocated to the obligatory reserve. The remaining part of the retained earnings of LTL 137.4 million (EUR 39.8 million) shall be transferred to the next financial year.

3. elected close stock company „Ernst & Young Baltic“ as an audit firm to perform audit of the annual financial statements of the Bank for the year 2014 and authorized the president of the Bank to establish the other terms and conditions of the agreement on auditing services with the audit firm within  the remuneration amount set by the sole shareholder;

4. re-elected to the Supervisory Council for the new four-year term of office:

4.1  Terje Turnes, the head of DNB A/S Baltic division;

4.2  Tony Samuelsen, executive vice president of DNB A/S;

4.3  Eline Skramstad, credit officer of DNB A/S;

4.4  Leif Rene Hansen, independent member.

On 24 March 2014 the Supervisory Council of the Bank re-elected Terje Turnes as the Chairman and Tony Samuelsen as the Vice-chairman of the Bank’s Supervisory Council. The Supervisory Council also re-elected the six-member Management Board of the Bank, i.e.  Bjørnar Lund, Ramūnas Abazorius, Vaineta Barevičiūtė, dr. Šarūnas Nedzinskas, Anne Birgitte Prestholdt and  Per Weidemann for a new four-year-term in office.

In the meeting of the Bank’s Management Board held on 24 March 2014  Bjørnar Lund was re-elected as the chairman of the Management Board and as the president of the Bank. Ramūnas Abazorius was elected as the vice-chairman of the Management Board. Ramūnas Abazorius, Vaineta Barevičiūtė, dr. Šarūnas Nedzinskas, Anne Birgitte Prestholdt and Per Weidemann were also appointed as executive vice-presidents of the Bank.