NYTT EUROPRESS, MEN POSITIVE RAPPORTER ORK, PLCS & DETNOR

ANALYSE Aksjemarkedet i dag NYTT EUROPRESS, MEN POSITIVE RAPPORTER ORK, PLCS & DETNOR En ny runde med bekymring for følgene av den finansielle situasjonen i Hellas og konsekvensene for eurosonen, samt renteutsikter som gir fortsatt press på utbyttefokuserte aksjer skjøv det amerikanske aksjemarkedet ned i går. Dow endte ned 0.5%, mens S&P500 og Nasdaq sluttet ned 0.4%. Volumet på de tre hovedindeksene kom inn på begrensede 83-89% av gjennomsnittet for de siste tre måneder. I Japan ser vi også en blandet utvikling i morgentimene i dag etter at også det japanske markedet har tatt innover seg de amerikanske bekymringene for eurosonen og samtidig en svakt styrket Yen-kurs presser Nikkei ned 0.3% ved stengetid. I Kina stiger imidlertid indeksene etter at oppdaterte KPI-tall viser en noe lavere prisstigning enn ventet. Profilerte fond valgte i går å kommunisere kjøp av aksjer innen riggsektoren og dette bidro til å løfte Noble, Ensco og Transocean med 6-10%. Etter børs steg også detaljistene Aeropostale og Urban Outfitters med henholdsvis 21% og 7% etter sine kvartalsoppdateringer. Det kommer begrenset med nøkkelinput fra makrosiden i dag, men i Europa får vi de siste tallene for industriproduksjonen. I Norge kommer det en KPI-oppdatering og fra USA får vi en måling av bedriftstilliten i de mindre bedriftene. I oljemarkedet steg WTI-prisen i går med USD 0.80 pr fat til USD 52.80 pr fat. I morgentimene i dag er prisen reversert tilbake til USD 52 pr fat. Brent åpner i dag på USD 57.71 pr fat, hvilket er ned USD 0.75 pr fat i forhold til nivået ved stengetid i det norske markedet i går. Gårsdagens løft ser ut til å ha kommet etter at OPEC nedjusterte sine estimater for global produksjon fra ikke-medlemmer fremover. Etter Q4 rapporten fra Orkla løfter vi EBITA-estimatene for 2015 og 2016 med rundt 3%. Underliggende vekst innen merkevareområdet (BCG) var bedre enn ventet og marginekspansjonen var i tillegg på den positive siden av estimatene. Dagens kursnivå innebærer en implisitt EV/EBITDA på 11.2x basert på estimatet for 2015, mens sammenlignbare aktører verdsettes på EV/EBITDA 16.0x. Vi gjentar kjøpsanbefalingen på Orkla og har justert kursmålet fra NOK 63 til NOK 65 pr aksje. Justert EBIT for Polarcus endte på negative USD 18.8 mill for Q4. Dette var klart svakere enn både vårt estimat på USD 8 mill og konsensus på USD 11.5 mill. Ordreboken innebærer samtidig at selskapet etter vårt syn har det travelt med å sikre nye oppdrag. Rundt 30% av kapasiteten er fortsatt ledig i mars og for Q2 er rundt 55% av kapasiteten ledig. Vi har en salgsanbefaling på Polarcus med et kursmål på NOK 0.50 pr aksje. Basert på dagens oljepris og forwardkurve ligger vårt estimat for netto underliggende verdi (NAV) i Det norske oljeselskap på NOK 70 pr aksje. I løpet av kort tid vil partnerne på Johan Sverdrup-feltet måtte levere inn en plan for drift og utvikling til myndighetene og vi venter at dette på tross av fortsatte forhandlinger vil medføre at det kommer en ytterligere avklaring. Vi har en kjøpsanbefaling på Det norske med et kursmål på NOK 70 pr aksje. Selskap Tidspunkt Konsensus Coca-Cola Før markedet 0.42 FMC Technologies Etter markedet 0.78 Molson Coors - 0.69 Land Nøkkeltall Finland Industriproduksjon 08.00-0.9% Frankrike Industriproduksjon 08.45-1.1% Norge KPI 10.00 1.9% Italia Industriproduksjon 10.00-0.7% UK Industriproduksjon 10.30 0.5% USA Bedriftstillit 15.00 101.1 USA Engroslagre 16.00 0.1% Våre anbefalte aksjer: - NHY - SBO - TIL - ORK - DETNOR - LSG - OCY - TOM YTD DNB: 0% YTD OSE: +5% Internasjonale børser Siste Endr. % Dow Jones 17,729-95 -0.53 S&P 500 2,047-9 -0.42 NASDAQ 4,726-18 -0.39 Nikkei 225 17,609-103 -0.58 Euro 500 252-2 -0.69 Danmark-KFX 788-6 -0.70 Finland-HEX 8,523-120 -1.39 Norge-OSEBX 618 2 0.30 Sverige-SAX 516-2 -0.42 Valuta/råvarer Siste I går Endr. % EUR/USD 1.134 1.133 0.12 USD/JPY 118.6 118.6 0.07 USD/NOK 7.586 7.616 0.43 EUR/NOK 8.598 8.625 0.32 Siste Endr. Endr. % CRB indeks 228 4.74 2.12 Brent sp. ($/bbl) 56.9-0.64-1.11 Brent 1m ($/bbl) 57.5-0.29-0.50 Alum. 3m ($/ton) 1,876.0-9.00-0.48 US Nat.gass 2.6-0.04-1.42 Renter Siste I går Endr. USA 10år 1.965 1.957 0.01 Tyskl. 10år 0.355 0.366-0.01 Norge 10år 1.272 1.280-0.01 USA 3m 0.256 0.255 0.00 Euro 3m 0.051 0.051 0.00 Norge 3m 1.390 1.360 0.03 DNB Markets følger markedet konstant og nå kan du følge oss på Twitter. Slik gjør vi det enda lettere for deg å forstå hva som skjer. Sjekk oss ut på twitter.com/dnbmarkets ANALYSTS Ole-Andreas Krohn Ole-Andreas.krohn@dnb.no TLF: 08940 Please see the last page for important information

DNB Markets Sentrale US-INDekser SENTRALE US-INDEKSER Endring Endring Endring Endring Gj.snittlig Siste i poeng 1 dag (%) 1 mnd.(%) hittil i år(%) est. P/E Dow Jones Industrial 17,729-95.08-0.53-0.05-0.53 15.93 S&P 500 2,047-8.73-0.42 0.09-0.59 17.97 Nasdaq Composite 4,726-18.39-0.39 0.47-0.21 30.90 Russel 2000 1,196-9.64-0.80 0.86-0.74 44.62 Amex naturgass-indeks (XNG) 739-6.07-0.81 5.37 1.61 21.48 Amex Oil Service Indeks 206 3.04 1.50 3.70-2.38 12.20 Philadelphia-børsens oljeproduksjon-indeks (XOI) 1,380 7.56 0.55 5.95 2.36 12.61 Amex farmasi-indeks (DRG) 544-2.32-0.42-0.37 2.01 23.21 Nasdaq biotech-indeks 3,280-27.36-0.83 0.07 3.23 #N/A N/A Philadelphia-børsens halvleder-indeks (SOX) 665-7.31-1.09-3.06-3.25 20.81 S&P 500 Paper & Forest Index ( PAFO) 234-1.16-0.50 2.17 1.18 0.00 NORDISKE AKSJER I USA Sluttkurs USA Endr.1 dag Volum USA Sluttkurs USA, Sluttkurs Forskjell sluttkurs (USD) (USD) hjemlig valuta hjemme USA/hjemlig Norge Frontline 2.90 0.17 3,949,242 22.00 20.60 1.40 Royal Caribbean Cruises 73.75-2.26 2,169,948 559.43 573.00-13.57 Questerre (CAD) 0.33-0.01 45,000 2.01 2.02-0.01 Statoil 19.44 0.99 4,431,375 147.46 148.80-1.34 Yara 50.49-1.44 12,310 382.99 385.40-2.41 Sverige AstraZeneca 67.72 0.03 1,683,546 565.63 567.50-1.87 Finland (EUR) Nokia 7.54-0.28 10,208,490 6.65 6.68-0.03 Danmark Novo Nordisk B 42.07-1.61 2,075,014 276.16 276.30-0.14 SAMMENLIGNBARE SELSKAPER (PEERS) BEST -1d% Peer SVAKEST -1d% Peer Furniture Brands Intern #N/A N/A EKO D/S Torm -8.8 ODF Dell Inc #N/A N/A KOM Alcoa inc -5.6 NHY Overseas Shipholding G#N/A N/A FRO Holmen Ab -3.1 NSG Ubs #N/A N/A DNB Lufthansa -2.9 SASNOK Transocean Inc 10.4 FOE Tietoenator -2.8 EDB Furniture Brands Intern #N/A N/A EKO Nordea Ab -2.6 DNB Geophysique (Cie Gle D 5.6 PGS Nokia -2.5 ELT CVRD 4.5 NHY Orange SA -2.3 TEL Efore 3.8 ELT Deutsche Telecom -2.3 TEL Bg 3.0 STL Air France -2.2 SASNOK RÅVARER & SHIPPING Siste I går Endr. %1D 1W 1M 3M YTD 12M 52W H 52W L CRB indeks 227.9 227.9 3.1 1.36 7 2.3-39.9-2.1-61.0 313.3 211.3 GS råvare indeks 3,181 3,181 41.2 1.3% 14 136-934 -52-1,649 5,214 2,856 Oil Brent Spot 56.88 57.17-0.29-0.51 1 7.51-24.41 1.12-51.25 Brent olje 1m 57.51 58.34-0.83-1.42-0 7.40-24.83 0.18-51.12 115.71 45.19 Brent olje 3m 59.62 60.46-0.84-1.39-0 7.07-23.95 0.43-47.94 114.44 47.68 WTI olje 1m 52.05 52.86-0.81-1.51-1 3.69-25.35-1.22-48.01 107.73 43.58 Flybensin 602.25 #N/A N/A 14.00 2.38 78 53.00-203.25 29.25-364.75 Naturgass US Henry Hub 2.60 2.60 0.04 1.65-0 -0.35-1.41-0.40-3.28 Fyringsolje 185.4 187.3-1.9-1.0 1 15-61.5 0.8-114.4 318.5 158.9 Metals Aluminium 3m 1,876 1,876 5 0.3 3 66-179 24 157 2,120 1,691 Nikkel 15,155 15,155-80 - 0.5-170 -145-270 5 1,015 21,625 13,945 Kopper 5,673 5,673 23 0.4 173-417 -1,042-627 -1,468 7,220 5,340 Gull 1,245 1,239 6 0.5-16 22 93 60-30 1,392 1,131 Shipping WS AG - Japan, 250 dwt 63 0 8 14 - -5 10 5 18 WS AG - USG, 250 dwt 35 35 0 0 - -5 5 3 5 Containerships index 0 0 0.0 0.0% - 0 0 0 0 0 0 Baltic dry index 554 554-5.0-0.89-36 -155-864 -228-542 1,621 554 2

DNB Markets US-INTRADAG REBASERT US-INTRADAG REBASERT 104 103 102 101 100 99 98 97 96 95 OSX (Oljeservice) XOI (Oljeproduksjon) Oljepris (WTI) S&P500 Olje / Indekser Endring USA Endring Endring Endring close/close US-open/Oslo-close Oslo-close/US-close US-close/this morning WTI - 1.62 % -0.29 % -1.51 % Oljeservice 1.50 % 1.61 % 0.08 % Oljeproduksjon 0.55 % 1.21 % -0.61 %. Kilde: Bloomberg/DNB Markets 3

DNB Markets S&P 500-indekser på bransjenivå S&P 500-INDEKSER PÅ BRANSJENIVÅ 1 dag 1 mnd. 3 mnd. 1 år hittil i år est. P/E Fritidsutstyr 2.1% 2.0% -5.4% -11.8% -3.0% 16.9 Bygg og anlegg 0.9% -0.3% -14.4% -23.5% -4.9% 12.3 Energi og relatert utstyr 0.8% 4.9% -15.0% -13.8% 0.3% 17.5 Elektrisk utstyr 0.6% 0.2% -5.0% -4.4% -2.1% 15.5 Datamaskiner og tilbehør 0.4% 2.9% 6.8% 47.2% 4.2% 13.5 Kommunikasjonsutstyr 0.4% -5.2% 2.5% 2.7% -5.3% 13.4 Maskiner 0.3% -0.1% -5.7% 2.7% -2.8% 16.3 Media 0.3% 1.5% 6.1% 11.9% -1.2% 17.6 Elektronisk utstyr og instrumenter 0.2% 5.3% 12.3% 26.1% 6.0% 17.1 Industrielle konglomerater 0.1% 2.1% -2.6% 6.9% -1.5% 16.2 Olje og gass 0.1% 3.5% -6.0% -1.0% 0.4% 30.7 Programvare 0.0% -5.5% -6.3% 14.7% -5.8% 18.0 Kjemikalier 0.0% 3.7% 3.8% 13.5% 3.1% 17.9 Legemiddelindustri og bioteknologi -0.2% 7.2% 10.1% 25.9% 9.9% 17.9 Metall -0.3% -3.5% -10.3% -9.6% -2.7% 17.2 Diversifiserte telekomtjenester -0.3% 4.9% -1.4% 8.7% 4.3% 14.2 Forsikring -0.3% -1.5% -2.2% 9.8% -4.3% 10.8 Internett programvare og -tjenester -0.5% 0.5% -3.4% -1.4% -2.8% 22.5 Bank -0.5% -0.3% -3.8% 7.1% -5.4% 11.4 Papir- og skogprodukter -0.5% 2.2% 1.0% 14.4% 1.2% 14.1 Husholdningsartikler -0.6% -4.6% -3.6% 9.6% -5.2% 21.2 Drikkevarer -0.7% -1.9% -0.3% 16.6% 0.7% 20.9 Matvarer -0.7% -1.4% -0.4% 14.0% -0.9% 18.7 Bildeler -0.7% 4.4% 2.5% 9.8% 1.2% 13.2 Bioteknologi -1.0% -0.5% -1.3% 25.9% 1.8% 17.2 Hotell og restaurant -1.0% -0.5% 1.3% 5.3% -0.9% 21.4 Kraft -1.1% -3.4% -0.8% 19.1% -2.9% 16.6 Farmasi -1.1% -3.3% 0.2% 16.0% -0.3% 17.5 Helseartikler -1.6% -1.9% 4.2% 23.4% 0.1% 18.9 Luftfart -2.2% -0.5% 5.9% 64.9% -4.8% 10.2 MSCI EUROPA PÅ BRANSJENIVÅ Endring Endring Endring Endring Endring Gj.snittlig 1 dag 1 mnd. 3 mnd. 1 år hittil i år est. P/E Energi 1.2% 15.2% 0.3% 2.4% 10.8% 16.98 Materialer 0.7% 11.2% 10.0% 8.5% 10.1% 16.07 Mat- og apotekhandel 0.7% 15.3% 19.5% -1.7% 15.7% 16.79 Drikkevarer, mat og tobakk -0.4% 10.8% 12.0% 28.6% 10.2% 20.10 Kommersielle tjenester og leveranser -0.5% 11.5% 12.8% 15.2% 11.1% 17.92 Helsevern - utstyr og tjenester -0.5% 5.3% 10.8% 21.3% 5.1% 21.83 Kapitalvarer -0.6% 9.6% 9.7% 7.2% 8.6% 16.33 Hotell-, underholdnings- og restaurantvirksomhet -0.6% 9.0% 17.2% 33.2% 7.9% 20.43 Forbruksvarer og klær -0.6% 9.1% 13.1% 11.2% 7.8% 19.06 Finansieringsselskaper -0.8% 8.6% 8.8% 4.4% 5.5% 12.33 Husholdningsvarer og personlige produkter -0.8% 12.1% 18.5% 21.7% 12.4% 22.53 Detaljhandel -1.0% 6.7% 12.8% 10.3% 4.6% 20.59 Teknologisk utstyr -1.0% 6.6% 10.9% 18.3% 6.9% 19.11 Forsikring -1.1% 10.9% 13.5% 21.4% 9.6% 11.45 Programvare og tjenester -1.1% 6.9% 13.0% 9.2% 3.1% 17.62 Media -1.2% 11.4% 19.8% 25.4% 11.3% 18.37 Telekommunikasjon og tjenester -1.4% 10.9% 15.0% 19.8% 9.4% 19.97 Banker -1.7% 7.4% 0.7% -1.2% 1.2% 10.58 Transport -1.9% 7.4% 10.8% 11.6% 7.3% 14.63 Eiendomsselskaper -1.9% 13.5% 20.8% 35.4% 15.6% 22.95 Forsyningsselskaper -2.0% 4.7% 1.0% 13.8% 0.9% 14.54 Biler og komponenter -2.9% 16.2% 24.2% 19.6% 15.4% 10.54 4

DNB Markets Indekser INDEKSER DOW 30 Kurs Endring Endring Endring siste 1 dag 1 mnd 1 år CATERPILLAR INC 84.67 1.8% -3.4% -10.4% CHEVRON CORP 110.43 0.7% 2.1% -1.1% GENERAL ELECTRIC CO 24.64 0.5% 2.5% -1.6% EXXON MOBIL CORP 91.56 0.1% -0.6% 2.3% AMERICAN EXPRESS CO 84.98 0.0% -6.0% -3.8% MICROSOFT CORP 42.36-0.1% -10.2% 15.1% JPMORGAN CHASE & CO 57.82-0.1% -2.6% 1.9% BOEING CO/THE 147.58-0.3% 12.2% 16.1% WALT DISNEY CO/THE 101.73-0.3% 7.9% 32.0% PFIZER INC 33.07-0.3% 1.3% 5.1% UNITED TECHNOLOGIES CORP 119.32-0.4% 4.6% 6.9% CISCO SYSTEMS INC 27.12-0.4% -2.4% 18.8% VERIZON COMMUNICATIONS IN 49.09-0.5% 5.0% 4.6% DU PONT (E.I.) DE NEMOURS 75.72-0.5% 3.0% 19.3% COCA-COLA CO/THE 41.23-0.5% -4.2% 6.9% INTL BUSINESS MACHINES CO 155.75-0.6% -2.1% -12.1% HOME DEPOT INC 108.34-0.6% 3.3% 41.8% PROCTER & GAMBLE CO/THE 85.05-0.7% -5.8% 9.0% AT&T INC 34.64-0.7% 3.7% 6.8% GOLDMAN SACHS GROUP INC 182.22-0.7% -2.7% 13.2% NIKE INC -CL B 91.17-0.7% -5.0% 25.5% VISA INC-CLASS A SHARES 265.46-0.7% 1.9% 20.4% 3M CO 164.84-0.7% 2.0% 27.1% MERCK & CO. INC. 58.33-0.8% -6.8% 6.3% UNITEDHEALTH GROUP INC 106.49-1.0% 2.7% 52.7% INTEL CORP 32.93-1.1% -10.4% 35.6% JOHNSON & JOHNSON 99.78-1.3% -4.9% 9.6% TRAVELERS COS INC/THE 105.77-1.3% -0.1% 28.4% MCDONALD'S CORP 92.72-1.4% -0.5% -2.3% WAL-MART STORES INC 85.91-1.6% -3.9% 16.5% S&P 500-30 fra toppen S&P 500-30 fra toppen Kurs Endring Endring Endring siste 1 dag 1 uke 1 år TRANSOCEAN LTD 20.44 10.4 % 27.0 % -51.6 % HASBRO INC 59.66 7.0 % 12.1 % 13.9 % NOBLE CORP PLC 19.28 6.0 % 19.4 % -27.9 % ENSCO PLC-CL A 31.93 5.8 % 9.1 % -36.8 % MOTOROLA SOLUTIONS INC 67.78 4.8 % 4.1 % 4.1 % FREEPORT-MCMORAN INC 19.51 3.5 % -16.8 % -39.5 % NABORS INDUSTRIES LTD 12.83 3.4 % 15.9 % -26.9 % STAPLES INC 17.12 3.3 % -0.6 % 29.4 % CONSOL ENERGY INC 32.90 3.0 % 6.8 % -11.6 % NRG ENERGY INC 26.03 3.0 % -4.1 % -5.6 % CENTURYLINK INC 39.67 2.9 % 3.3 % 37.1 % NEWS CORP - CLASS A 16.72 2.8 % 8.5 % -4.5 % NATIONAL OILWELL VARCO IN 52.78 2.6 % -14.7 % -21.9 % WINDSTREAM HOLDINGS INC 8.80 2.6 % 8.4 % 19.4 % DIAMOND OFFSHORE DRILLIN 34.40 2.4 % 3.0 % -21.4 % NEWMONT MINING CORP 24.61 2.3 % 18.8 % 10.9 % HELMERICH & PAYNE 69.58 2.3 % 14.4 % -18.8 % ROCKWELL AUTOMATION INC 115.03 2.1 % 7.0 % 2.7 % TERADATA CORP 42.50 2.1 % -2.1 % 3.5 % FRONTIER COMMUNICATIONS 8.09 2.0 % 24.7 % 78.6 % EASTMAN CHEMICAL CO 74.58 1.9 % 0.2 % -7.0 % FLUOR CORP 56.09 1.8 % -2.8 % -27.5 % PENTAIR PLC 65.47 1.8 % 0.5 % -14.5 % INTERPUBLIC GROUP OF COS 20.82 1.8 % 2.6 % 25.4 % CATERPILLAR INC 84.67 1.8 % -3.4 % -10.4 % LYONDELLBASELL INDU-CL A 88.34 1.8 % 11.9 % 9.1 % VIACOM INC-CLASS B 68.24 1.7 % -4.8 % -17.4 % MOSAIC CO/THE 50.49 1.6 % 9.9 % 7.8 % GENWORTH FINANCIAL INC-C 7.88 1.5% -0.5% -48.5% S&P 500-30 fra bunnen S&P 500-30 fra bunnen Kurs Endring Endring Endring siste 1 dag 1 uke 1 år ALCOA INC 15.65-5.6 % -2.9 % 41.5 % EDWARDS LIFESCIENCES CO 128.08-3.4 % -3.8 % 91.1 % IRON MOUNTAIN INC 39.53-3.4 % 0.1 % 63.0 % APPLIED MATERIALS INC 23.51-3.0 % -3.0 % 36.3 % TECO ENERGY INC 20.44-3.0 % 0.3 % 23.5 % BORGWARNER INC 57.00-2.7 % 6.5 % 5.8 % FIRSTENERGY CORP 37.95-2.5 % -2.6 % 22.6 % ROYAL CARIBBEAN CRUISES 73.75-2.5 % -12.1 % 45.1 % ALEXION PHARMACEUTICALS 171.42-2.4 % -7.0 % 0.8 % AVAGO TECHNOLOGIES LTD 102.24-2.4 % -2.5 % 81.6 % TENET HEALTHCARE CORP 42.65-2.4 % -17.4 % -6.0 % DELTA AIR LINES INC 44.45-2.3 % -5.2 % 42.4 % WHIRLPOOL CORP 206.29-2.3 % 4.6 % 51.0 % SUPERVALU INC 9.82-2.3 % 3.8 % 69.9 % ABBOTT LABORATORIES 44.52-2.2 % -1.5 % 19.8 % COMERICA INC 45.15-2.1 % 5.9 % -1.6 % INTUITIVE SURGICAL INC 501.29-2.1 % -3.8 % 16.7 % SHERWIN-WILLIAMS CO/THE 274.39-2.1 % 0.0 % 50.5 % ST JUDE MEDICAL INC 64.82-2.1 % -2.1 % 1.9 % REGIONS FINANCIAL CORP 9.36-2.1 % -3.8 % -8.2 % SALESFORCE.COM INC 57.98-2.0 % -0.3 % -5.0 % RALPH LAUREN CORP 136.09-2.0 % -22.7 % -12.3 % SOUTHWEST AIRLINES CO 43.26-2.0 % 6.1 % 105.8 % KEYCORP 13.88-2.0 % 6.6 % 9.6 % CIMAREX ENERGY CO 107.92-2.0 % 6.8 % 5.1 % UNION PACIFIC CORP 119.45-1.9 % 3.9 % 36.7 % MICRON TECHNOLOGY INC 28.35-1.9 % -15.4 % 14.0 % UNDER ARMOUR INC-CLASS A 72.68-1.9 % 7.4 % 34.3 % SOUTHWESTERN ENERGY CO 25.98-1.9 % 5.3 % -37.5 % BOSTON SCIENTIFIC CORP 14.45-1.8 % -1.4 % 11.9 % KEURIG GREEN MOUNTAIN IN 116.72-1.8 % -15.2 % 5.2 % AES CORP 11.85-1.8 % -8.1 % -15.7 % Nasdaq 100-30 fra toppen Nasdaq 100-30 fra toppen Kurs Endring Endring Endring siste 1 dag 1 uke 1 år NUANCE COMMUNICATIONS I 14.27 2.9 % 5.6 % -9.5 % BAIDU INC - SPON ADR 215.03 1.5 % -5.2 % 30.9 % WYNN RESORTS LTD 148.45 1.5% -0.4% -32.9% TWENTY-FIRST CENTURY FOX 34.05 1.4 % -3.8 % 5.9 % QUALCOMM INC 67.11 1.1 % -9.8 % -10.1 % PRICELINE GROUP INC/THE 1033.15 1.0 % -1.8 % -14.5 % SEAGATE TECHNOLOGY 60.40 0.8 % -9.1 % 21.1 % GARMIN LTD 53.81 0.7 % 4.6 % 20.9 % APPLE INC 119.72 0.7 % 6.9 % 58.4 % PACCAR INC 63.16 0.7 % -3.2 % 9.6 % CATAMARAN CORP 52.60 0.6 % 5.8 % 8.1 % STERICYCLE INC 130.83 0.5 % -0.8 % 12.7 % DISCOVERY COMMUNICATION 30.05 0.5 % -6.2 % -28.6 % AUTODESK INC 57.34 0.5 % -1.6 % 9.7 % EXPEDIA INC 78.20 0.4 % -10.7 % 5.2 % CITRIX SYSTEMS INC 62.39 0.3 % 2.1 % 12.6 % COMCAST CORP-CLASS A 57.09 0.3 % 1.4 % 5.0 % XILINX INC 39.51 0.3 % -8.3 % -15.0 % TESLA MOTORS INC 217.48 0.1 % 5.2 % 10.6 % SIGMA-ALDRICH 137.78 0.1 % 0.4 % 48.0 % COGNIZANT TECH SOLUTIONS 57.45 0.0 % 6.2 % 19.6 % VERISK ANALYTICS INC-CLAS 65.97 0.0 % 4.6 % 5.9 % INTUIT INC 87.84 0.0 % -0.1 % 22.9 % C.H. ROBINSON WORLDWIDE 70.50 0.0 % -2.2 % 33.2 % FACEBOOK INC-A 74.44 0.0 % -4.2 % 17.1 % FOSSIL GROUP INC 96.28 0.0 % -6.8 % -16.3 % NETAPP INC 38.85-0.1 % -4.4 % -10.2 % NVIDIA CORP 20.38-0.1 % 2.2 % 28.0 % SYMANTEC CORP 24.75-0.1 % -2.4 % 18.5 % MICROSOFT CORP 42.36-0.1 % -10.2 % 15.1 % Nasdaq 100-30 fra bunnen Nasdaq 100-30 fra bunnen Kurs Endring Endring Endring siste 1 dag 1 uke 1 år APPLIED MATERIALS INC 23.51-3.0% -3.0% 36.3% ALEXION PHARMACEUTICALS 171.42-2.4% -7.0% 0.8% AVAGO TECHNOLOGIES LTD 102.24-2.4% -2.5% 81.6% TEVA PHARMACEUTICAL-SP A 56.36-2.2% -0.6% 27.9% INTUITIVE SURGICAL INC 501.29-2.1% -3.8% 16.7% MICRON TECHNOLOGY INC 28.35-1.9% -15.4% 14.0% KEURIG GREEN MOUNTAIN IN 116.72-1.8% -15.2% 5.2% REGENERON PHARMACEUTIC 399.72-1.8% -2.8% 31.5% MYLAN INC 53.00-1.7% -5.1% 18.2% MICROCHIP TECHNOLOGY INC 47.88-1.6% 7.5% 7.0% SBA COMMUNICATIONS CORP 116.24-1.4% 4.9% 24.8% F5 NETWORKS INC 110.45-1.4% -15.0% 0.9% BIOGEN IDEC INC 396.88-1.3% 15.9% 24.8% CERNER CORP 66.87-1.3% 3.0% 19.2% MARRIOTT INTERNATIONAL -C 73.39-1.1% -6.8% 48.7% VODAFONE GROUP PLC-SP A 34.70-1.1% 2.0% -5.9% INTEL CORP 32.93-1.1% -10.4% 35.6% KRAFT FOODS GROUP INC 66.04-1.1% 3.5% 24.2% WHOLE FOODS MARKET INC 52.94-1.1% 6.0% -3.7% MATTEL INC 27.91-1.1% -4.1% -24.1% ALTERA CORP 33.76-1.1% -8.7% -0.4% LIBERTY GLOBAL PLC-A 48.55-1.0% 2.0% 15.6% LINEAR TECHNOLOGY CORP 45.90-1.0% 0.5% 3.6% MONSTER BEVERAGE CORP 115.94-1.0% -0.9% 64.0% DENTSPLY INTERNATIONAL IN 50.01-1.0% -5.2% 9.1% AMAZON.COM INC 370.56-1.0% 24.8% 2.7% EQUINIX INC 217.30-1.0% 0.2% 18.9% BROADCOM CORP-CL A 43.37-0.9% 2.7% 41.8% BED BATH & BEYOND INC 77.50-0.9% 4.6% 20.5% YAHOO! INC 42.57-0.9% -14.4% 12.7% RENTER & VALUTA Renter Siste I går Endr. 1W 1M 3M YTD 12M Norge - Nibor 3m 1.390 1.390 0.010 0.05-0.03-0.25-0.09-0.30 USA - Libor 3m 0.256 #N/A N/A -0.001 0.00 0.00 0.02 0.00 0.02 Euro - Euribor 3m 0.051 0.051-0.002-0.004-0.019-0.029-0.027-0.240 Norge 10 år stat 1.272 1.272-0.020 0.04-0.21-0.74-0.26-1.45 USA 10 år stat 1.965 1.978-0.012 0.17 0.02-0.40-0.21-0.70 Euro 10 år stat 0.355 0.355-0.020 0.04-0.14-0.46-0.19-1.31 Tyskland 10 år stat 0.355 0.355-0.020 0.04-0.14-0.46-0.19-1.31 Japan 10 år stat 0.390 0.354 0.036 0.02 0.11-0.07 0.06-0.22 UK 10 år stat 1.610 1.610-0.036 0.23 0.01-0.59-0.15-1.10 Valuta Siste I går Endr. 1W 1M 3M YTD 12M 52W H 52W L EUR/USD 1.134 1.133 0.001-0.014-0.050-0.108-0.076-0.231 1.399 1.110 USD/JPY 118.6 118.6-0.080 1.0 0.2 3.7-1.1 16.3 121.9 100.8 GBP/USD 1.525 1.522 0.003 0.008 0.007-0.060-0.033-0.116 1.719 1.495 USD/NOK 7.586 7.616-0.033 0.067-0.162 0.772 0.136 1.455 7.880 5.849 EUR/NOK 8.598 8.625-0.027-0.030-0.568 0.138-0.418 0.235 9.897 8.077 GBP/NOK 11.560 11.589-0.029 0.162-0.190 0.769-0.048 1.506 12.423 9.855 5

DNB Markets ETF/ETP ETF/ETP Endring Endring Endring Endring ET F N avn Kurs 1 dg. i % 5 dg. i % 1 mnd i % 1 år i % Valuta Vo lum A ksjer / Indekser TecDax TDXPEX 13.86-1.3 % -0.9 % 4.8 % 19.4 % EUR 3294 Dow Jones Total market THRK 153.1-0.7 % 2.0 % 0.3 % 12.5 % USD 4387 Oil Service OIH 36.25 1.9 % 5.3 % 7.0 % -21.2 % USD 8718114 Latin-America 40 ILF 31.38 1.4 % 2.5 % -1.0 % -6.3 % USD 530123 Brasil EWZ 34.86 1.3 % 0.4 % -3.6 % -12.8 % USD 11747830 Energi XLE 79.9 0.1 % 2.6 % 4.6 % -4.5 % USD 20203839 Teknologi USA XLK 41.04-0.1% 1.8 % -0.5 % 16.7 % USD 7165741 Emerging M arkets EEM 39.76-0.2 % 0.1 % 1.2 % 3.8 % USD 35632498 Pacific ex-japan EPP 45.47-0.3 % 1.1 % 2.5 % 1.6 % USD 493172 FTSE 100 ISF 677.9-0.3 % 0.8 % 5.2 % 3.4 % GBp 5597653 Industri XLI 56.05-0.3 % 1.2 % 1.1 % 11.8 % USD 7112087 Nasdaq 100 QQQ 102.8-0.3 % 0.8 % 0.2 % 17.6 % USD 22604655 Hong Kong EWH 21.65-0.4 % -1.4 % 5.1 % 13.9 % USD 1456161 S&P Euro 350 IEV 43.34-0.4 % 0.3 % 4.8 % -6.5 % USD 891811 S&P 500 SPY 204.63-0.4 % 1.3 % 0.2 % 13.7 % USD 87219016 Finansielle tjenester XLF 24.02-0.5 % 2.7 % -0.4 % 12.7 % USD 30344536 S&P M idcap 400 M DY 267.13-0.5 % 1.5 % 2.0 % 12.0 % USD 1057432 DJIA DIA 177.09-0.6 % 2.2 % -0.1% 12.3 % USD 3723092 Bioteknologi IBB 313.41-0.7 % -1.9 % 0.0 % 25.0 % USD 1082133 CAC-40 CAC 46.22-0.7 % 0.6 % 11.5 % 9.5 % EUR 128101 Russell 2000 Growth IWO 142.56-0.7 % 1.8 % 1.1 % 7.8 % USD 622679 Forbruksvarer XLP 48.7-0.8 % 0.2 % -0.8 % 18.5 % USD 5656096 Russell 2000 IWM 118.86-0.8 % 1.8 % 1.1 % 7.0 % USD 32367852 AEX-Nederland AEXT 45.14-0.9 % 0.2 % 8.6 % 15.9 % EUR 4401 Forsyningstjenester XLU 46.15-0.9 % -4.9 % -2.6 % 17.8 % USD 19742158 Japan EWJ 11.54-0.9 % -0.6 % 3.7 % 1.3 % USD 26035292 DAX DAXEX 94.8-1.1 % -1.9 % 10.0 % 13.7 % EUR 26355 Olje / Energi Naturgass NGAS 0.07475 0.7 % -0.7 % -11.3 % -44.0 % USD 90000 Brent-olje OILB 35.97 1.3 % 8.0 % 16.2 % -48.5 % USD 144709 Fyringsolje HEAT 14.85 2.2 % 8.7 % 14.3 % -36.6 % USD 350 Bensin UGAS 31.2 2.7 % 4.6 % 19.0 % -40.0 % USD 22200 WTI-olje OILW 29.285 2.7 % 8.4 % 10.3 % -43.9 % USD 5025 Råolje CRUD 13.99 2.8 % 8.2 % 10.0 % -44.0 % USD 1100549 WTI-Oil USO 19.77 1.5 % 6.2 % 8.2 % -44.5 % USD 34839178 M etaller Sølv SLV 16.32 1.8 % -0.9 % 3.5 % -15.4 % USD 3944088 Sink ZINC 6.67 0.3 % 1.3 % -0.1% 4.1 % USD 35000 Nikkel NICK 15.98-0.1% -1.0 % -2.4 % 4.5 % USD 100000 Bomull COTN 2.08 0.6 % 3.4 % 2.3 % -23.3 % USD 629319 Kobber COPA 26.275 0.0 % 3.4 % -6.3 % -20.3 % USD 13287 Aluminium ALUM 3.319 0.0 % 0.1 % 2.9 % 3.7 % USD 21 A ndre råvarer Svinekjøtt HOGS 0.745-0.3 % -7.1% -16.2 % -26.6 % USD 380400 Kaffe COFF 2.0945-0.3 % 2.9 % -8.2 % 10.0 % USD 8789 Sukker SUGA 11.305 1.6 % 2.4 % -1.1 % -26.9 % USD 181615 Kveg CATL 7.6563 2.5 % 1.2 % -3.5 % 10.5 % USD 5740 Råoljer AIGO 16.833 2.5 % 8.0 % 14.0 % -43.0 % USD 3676 Hvete WEAT 1.0615 0.2 % 5.6 % -7.1% -16.8 % USD 442968 Soyaolje SOYO 4.333 0.7 % 5.0 % -5.6 % -21.3 % USD 0 Soyabønner SOYB 22.105-0.1% 1.2 % -7.2 % -13.8 % USD 52685 R åvarekurver Energi AIGE 5.75 1.8 % 5.6 % 6.5 % -43.2 % USD 225977 Softs (Sukker, Kakao, Bomull) AIGS 4.8975 0.8 % 2.8 % -2.6 % -13.1% USD 0 Buskap AIGL 3.4685 1.4 % -1.8 % -8.3 % -4.0 % USD 0 Landbruk AIGA 6.05 0.7 % 3.2 % -4.6 % -15.2 % USD 406190 Industrimetaller AIGI 11.83 0.1 % 1.6 % -2.3 % -7.1% USD 222350 Korn AIGG 4.715 0.8 % 3.5 % -5.2 % -17.2 % USD 0 Råvarer AIGC 10.55 1.2 % 2.5 % 0.1 % -20.4 % USD 9157 Ex-Energi AIGX 9.64625 0.7 % 1.0 % -2.7 % -10.5 % USD 0 Edle metaller AIGP 17.3 1.4 % -1.9 % 2.4 % -7.1% USD 53660 6

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Any financial interests, not mentioned in the relevant research notes, that the analyst or any close associates holds in the issuer discussed in the report is limited to investment funds that do not mainly invest in the issuer or industry discussed in the report and the management of which these persons cannot influence. 8