Company Announcement No. 72, 2016 - Auction of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab

With the refinancing of Nordea Kredit Realkreditaktieselskab's adjustable rate
mortgages (ARMs) as of 1 October 2016 an electronic auction will be held in
August 2016.

The ARMs will be refinanced in covered mortgage bonds (SDRO). Nordea Bank
Danmark will conduct the auction.

+--------------------------+---------------------------------------------------+
|The Auction               |The auction will be held in the market for mortgage|
|                          |bonds at NASDAQ Copenhagen.                        |
|                          |The Dutch (hidden call) auction principle will be  |
|                          |applied, implying that where bids exceed the cut   |
|                          |-off price, the full amount will be allocated at   |
|                          |the cut-off price. Bids made at the cut-off price  |
|                          |may be allocated on a pro rata basis. There will be|
|                          |no allocation in respect of bids below the cut-off |
|                          |price.                                             |
+--------------------------+---------------------------------------------------+
|Auction period            |23 August up to and including 25 August 2016.      |
+--------------------------+---------------------------------------------------+
|Amount                    |Final volumes offered and time schedule are        |
|                          |expected to be announced in the week 31, 2016.     |
+--------------------------+---------------------------------------------------+
|Settlement date           |3 October 2016.                                    |
+--------------------------+---------------------------------------------------+
|Participant               |Bids can be made by anyone with an access to the   |
|                          |market for mortgage bonds at NASDAQ Copenhagen.    |
|                          |Bids can also be made to Nordea Markets. Contact   |
|                          |persons are Bjarne Hammeken phone no. +45 3333 1707|
|                          |and Kim Petersen phone no. +45 3333 1644.          |
+--------------------------+---------------------------------------------------+

For more detailed information please contact Nordea Group Treasury & ALM, Peter
Brag phone no.

+45 3333 1663 or Finn Nicolaisen phone no. +45 3333 1625.

Yours faithfully

Nordea Kredit Realkreditaktieselskab