Downward adjustment of expected results for 2020

Nasdaq Copenhagen

London Stock Exchange

Other stakeholders

Date         23 March 2020

Downward adjustment of expected results for 2020

As a result of the macroeconomic uncertainty arising from the corona virus situation, including falling prices of mortgage credit bonds, widening credit spreads of corporate bonds and expected higher impairment charges, the bank’s expected results for 2020 are adjusted downward.

On publication of the 2019 annual report, the bank announced its expectations for core earnings for 2020 in the range DKK 1,000-1,200 million and profit before tax in the range DKK 950-1,250 million. The updated expectations for 2020 are now core earnings in the range DKK 900-1,100 million and profit before tax in the range DKK 800-1,100 million.

Yours faithfully

Ringkjøbing Landbobank

John Fisker

CEO

Attachment