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M&A credentials

August 2020 Markets – Investment Banking Selected M&A credentials

July 2020 Pending April 2020 February 2020 January 2020 / June 2019 December 2019 Sale of Nordomatic Acquisition of 14.9% of shares in Sale of VP Securities to Acquisition of Alma Media’s Sale of seismic assets to SGS Sale of Sportmaster (DK) and to Trill Impact Sale of by Euronext regional news media and creation of joint technology Rezet to Sportmaster Group Sale of company Sale of seismic Sale of assets by by Stake acquisition of Create Create Create Create Acquistion of Create by Deal value Deal value Deal value Deal value regional Deal value Deal value tombstone tombstone tombstone to tombstone to tombstone Undisclosed to EUR 179m DKK 1,120m EUR 115m news Undisclosed Undisclosed here here from here here media here to And establishment of Financial Adviser Sole financial Exclusive financial Sole Financial Adviser Sole Financial joint technology Exclusive financial to Adelis adviser to Valmet adviser to the sellers to Advisor to CGG partnership adviser to Nordic Capital

December 2019 December 2019 November 2019 November 2019 November 2019 November 2019 Merger between NTS ASA Sale of Henning Larsen Public offer for Hemfosa Public offer for Cramo Public offer for Pihlajalinna Acquisition of Viking and Frøy Gruppen Architects Redningstjenste

Create Create Create Create Acquisition of Merger with Sale to tombstoneDeal value tombstoneDeal value tombstoneDeal value public offer for Deal value public offer for tombstoneDeal value public offer for Deal value hereNOK 11bn hereUndisclosed hereSEK 23.5bn EUR 614m hereEUR 560m NOK 1,150m

Sole Financial Advisor to Exclusive Financial Adviser to Financial Adviser Financial Adviser to Boels Financial Adviser to Sole Financial Advisor to Frøy Gruppen Henning Larsen Architects to SBB and Arranger of the Offer Mehiläinen and Arranger of buyer the Offer

October 2019 September 2019 September 2019 August 2019 August 2019 July 2019 Acquisition of Rabipur/RabAvert Acquisition of The Scottish Public offer for Silmäasema Sale of Six Ames to Verdane Sale of Baum und Pferdgarten to Partial demerger of and Encepur Salmon Company Capital Verdane Capital to Sale of Sale of Partial demerger of Create Acquisition of Create Create Create Create Create Acquisition of Public offer for to to Deal value vaccine assets Deal value Deal value Deal value Deal value Deal value tombstone from tombstone tombstone tombstone tombstone tombstone to hereEUR 796m hereNOK 5,764m hereEUR 110m hereUndiscosed hereUndiscosed hereEUR 3,324m

Financial adviser to Financial adviser to Financial adviser and Exclusive financial adviser to Exclusive financial adviser to Financial adviser to Outotec Bavarian Nordic Bakkafrost Fairness Opinion to Scandinavian Designers the Shareholders Silmäasema

1 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

June 2019 June 2019 June 2019 May 2019 May 2019 May 2019 Acquisition of Bjørknes Merger of Tieto and EVRY Acquisition of Polystar Sale of Logent to Stirling Square Sale of Coromatic from EQT Acquisition of Norled Høyskole by to E.ON Sale of Sale of &

Create by Create Acquisition of Merger with Acquisition of Deal value Deal value Deal value Deal value tombstoneDeal value tombstoneDeal value Acquisition of 1 2 Undisclosed EUR 2.0bn EUR 75m hereUndisclosed to hereUndisclosed Undisclosed from from Sole Financial Adviser Financial Adviser to Tieto Sole Financial Adviser to Financial adviser to Adelis Financial adviser to EQT Financial adviser to EMK Capital Elisa to the consortium

April 2019 February 2019 February 2019 December 2018 December 2018 November 2018 Acquisition of 54% of Public offer for Ahlsell Sale of Cambio to Investcorp Acquisition of HMN GasNet Merger of AGR and FirstGeo Acquisition of Bergvik Skog Öst shares in DNA by Telenor Sale of

Public offer for Create by Create Create Create Merger with Acquisition of Deal value Deal value tombstoneDeal value tombstoneDeal value Acquisition of tombstoneDeal value tombstoneDeal value EUR 3.3bn SEK 31.2bn Undisclosed to DKK 1,809m NOK 220m SEK 6.4bn here here here here Öst

Financial adviser to Finda Defence Adviser and Fairness Financial adviser to Valedo Exclusive financial adviser to Financial adviser to AGR Financial adviser to Provision of fairness opinions Opinion to Ahlsell Energinet BillerudKorsnäs to Finda and PHP

November 2018 October 2018 October 2018 October 2018 September 2018 September 2018 Sale of Arkitema Architects Acquisition of Aleris Care Acquisition of Danske Færger Sale of VR Track Sale of Luminor Public offer for to NRC Group Bank Technopolis

Create Create Acquisition of Create Create Create Sale of Sale to tombstoneDeal value tombstoneDeal value tombstoneDeal value Acquisition of tombstoneDeal value Sale to tombstoneDeal value Deal value Public offer for Undisclosed SEK 2.6bn DKK 594m EUR 225m EUR 1bn to EUR 730m here here Care here here here

Exclusive financial adviser to Financial adviser to Ambea Exclusive financial adviser to Sole Financial adviser to VR Financial Adviser Financial Adviser Arkitema Architects Molslinjen Group to Nordea to Kildare Partners

2 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

August 2018 July 2018 July 2018 July 2018 June 2018 June 2018 Sale of Nordea Ejendomme Sale of GET and TDC Norway Acquisition of Acquisition of Acquisition of Sale of Powerbox FTZ and Inter- Gjensidige Bank Nordic Modular to Cosel Team Group Acquisition of Bank Sale of Norway Deal value Deal value Sale to Deal value Deal value Acquired by Deal value Acquired by Deal value Undisclosed to NOK 21.0bn EUR 395m and NOK 5.5bn SEK 2,725m Undisclosed

Exclusive financial adviser to Joint Financial Adviser to Financial Adviser Financial Adviser Financial Adviser Financial Adviser the seller TDC and its shareholders to Mekonomen Group to Nordea to Cramo to Alder

June 2018 April 2018 March 2018 March 2018 February 2018 January 2018 Acquisition of Bola Sale of Thermia to Energinet’s acquisition of NGF Sale of E.ON Gas Sverige to First Public takeover Merger of Tele2 Webinformation Stiebel Eltron Nature Energy Distribution State Investments offer and Com Hem

Create Acquired by Create Acquired by Create Create Acquired by Sale to Public offer for Deal value Deal value tombstoneDeal value tombstoneDeal value tombstoneDeal value tombstoneDeal value Merger with Undisclosed Undisclosed hereUndisclosed hereUndisclosed hereDKK 67.8bn hereSEK 98bn

Financial Adviser Financial Adviser Exclusive financial advisor Financial advisor Lead Financial adviser Financial Adviser to Better Collective to sellers to Energinet to E.ON Sverige to the Consortium to Tele2

December 2017 November 2017 November 2017 November 2017 October 2017 September 2017 Acquisition of EMK acquisition of Acquisition of Restructuring of Sale of Kotkamills Public takeover offer Norsk Gjenvinning Sonans Gruppen Visedo Bergvik Skog Imprex Oy

Create Acquisition of Create Acquisition of Create Acquisition of Create Acquisition of Create Sale to Public offer for tombstoneDeal value tombstoneDeal value tombstoneDeal value tombstoneDeal value tombstoneDeal value Deal value hereUndisclosed hereNot disclosed hereNot disclosed hereNot disclosed (Öst) hereEUR 27m DKK 41.5bn

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Summa Equity to EMK Capital to Danfoss to BillerudKorsnäs to MB Funds to Nets

3 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

September 2017 August 2017 August 2017 July 2017 June 2017 June 2017 Sale of Maillefer Acquisition of Sale of DATEA Sale of Dynasafe Merger of Sale of Nianet Hans Andersson Recycling International AB Lemminkäinen and YIT Create CreateCreate Create Sale to Sale to Acquisition of Sale to Sale to Merger with Deal value Deal value Deal value tombstoneDeal value tombstoneDeal valuetombstone tombstoneDeal value Owned by Undisclosed Undisclosed Undisclosed hereUndisclosed hereEUR 1.6bnhere hereUndisclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to sellers to Veolia to DADES to Persura to Lemminkäinen to Nianet

June 2017 June 2017 February 2017 January 2017 December 2016 November 2016 Sale of Veolia FM Public offer for Public offer for Public offer for Public offer for Sale of to Lassila & Sponda Comptel PKC Transcom Dinair Group Tikanoja CreateCreate FM CreateCreate Create Create Create Create tombstoneDeal valuetombstone Sale to tombstoneDeal valuetombstone Public offer for Deal valuetombstonePublic offer for Deal valuetombstonePublic offer for tombstoneDeal value tombstoneDeal value Sale to hereSEK 650mhere hereEUR 2.0bnhere EUR 347here EUR 571here hereSEK 2.3bn hereNot disclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Veolia to Blackstone to to MSSL to Altor to Alder

November 2016 November 2016 October 2016 September 2016 September 2016 September 2016 Merger of Public offer for Sale of Agro activities of Fairness opinion Sale of Danish Fairness opinion of Ahlstrom and Norvestia Kongskilde Industries Ship Finance Topdanmark Munsjö

Create Merger with CreatePublic offer for Sale of Create Create Create Acquisition of shares in Deal valuetombstone Deal valuetombstone Deal value Deal valuetombstone Deal valuetombstoneSale of tombstoneDeal value to EUR 1.2bnhere EUR 165.3mhere Not disclosed NOK 3.1bnhere DKK 3.4bnhere hereDKK 16.5bn

Financial Adviser Financial Adviser Financial adviser Financial Adviser Financial Advisor Financial Adviser to Ahlstrom to Norvestia to the seller to Board of Directors to Sellers to Sampo

4 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

September 2016 August 2016 July 2016 June 2016 June 2016 May 2016 Mandatory offer for Sale of BKS Sale of Granngården Sale of Fjordlaks Boxer Sweden Anvia’s ICT Topdanmark business

Create Offer for Create Sale to CreateCreate Sale to Create Sale to CreateCreate Acquisition of Create Acquisition of Deal valuetombstone Deal valuetombstone tombstoneDeal valuetombstone Deal valuetombstone tombstoneDeal valuetombstone Deal valuetombstone DKK 10.7bnhere DKK 250mhere hereNot disclosedhere NOK 1.0bnhere hereSEK 1.3bnhere EUR 107mhere ICT business Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Sampo to sellers and BKS to EQT to Fjordlaks to Com Hem to Elisa

May 2016 May 2016 April 2016 March 2016 December 2015 December 2015 Sale of Ekokem Terex’s Material Handling & Sale of Lagerbergs Sale of Eton Sale of Orthex Port Solution business Norrporten

Create Sale to CreateAcquisition of Create Sale to CreateAcquisition of Create Sale to Create Sale to Deal valuetombstone Deal valuetombstone tombstoneDeal value Deal valuetombstone Deal valuetombstone Deal valuetombstone EUR 715m EUR 1.1bn Material Handling & SEK 13.4bn Not disclosed Not disclosed Not disclosed here herePort Solution business here here here here

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Ekokem to to Sjätte AP-fonden to Atria to Litorina to Intera Partners

December 2015 December 2015 December 2015 November 2015 November 2015 October 2015 Adven Public offer for Svensk Dos Fairness opinion Sale of Orbion Sale of Accountor IFS and strategic advice

Create Acquisition of Create Acquisition of CreateAcquisition of Create Create Sale to Create Sale to Deal valuetombstone Deal valuetombstone Deal valuetombstone Deal valuetombstone Deal valuetombstone Deal valuetombstone Not disclosedhere SEK 8.9bnhere Not disclosedhere SEK 1.6bnhere Not disclosedhere Not disclosedhere

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to AMP Capital and to EQT to Oriola-KD to Proffice to Relacom to Sellers and Accountor Infra Capital

5 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

September 2015 September 2015 July 2015 May 2015 May 2015 May 2015 Sale of Public offer VCC component Public offer for Fairness Opinion Automotive Bluegaarden for Grontmij plant in Floby PartnerTech assets

Transfer of Create Sale to CreateAcquisition of CreateAcquisition of CreateAcquisition of Create Pub Create assets to Deal valuetombstone Deal valuetombstone Deal valuetombstone Deal valuetombstone tombstoneDeal value tombstoneDeal value Not disclosedhere EUR 354mhere Not disclosedhere SEK 443mhere hereSEK 1.8bn hereDKK 1.2bn (component plant) Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Sellers and Bluegarden to Sweco to Amtek Group to Scanfil to Aerocrine to Bang & Olufsen

April 2015 February 2015 January 2015 November 2014 November 2014 September 2014 Sale of Nordic Sale of Sale of Apotek Sale of Public offer for Corenso Cinema Group C More Norway Hjärtat Fordonsgas Vacon

Create Sale to Create Sale to Create Sale to Create Sale to Create Acquisition of Create Acquisition of Deal valuetombstone Deal valuetombstone Deal valuetombstone Deal valuetombstone tombstoneDeal value tombstoneDeal value SEK 4.7bnhere Not disclosedhere SEK 5.7bnhere Undisclosedhere hereEUR 1.0bn hereEUR 90m

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Ratos and Bonnier to C More Entertainment AB / to Altor to DONG Energy and to Danfoss to Powerflute Bonnier AB Göteborg Energi

July 2014 July 2014 May 2014 April 2014 April 2014 April 2014 Public merger Sale of stake 50% stake in Sale of Sale of Sale of 49% stake in in Nets Sokolow Distribution Fortum Fredrikstad Energi Norway Fjernvarme and 35% stake in Norway Fredrikstad Energi Merger with Sale to Acquisition of Sale to Sale to Nett Sale to Deal value Deal value Deal value Deal value Deal value Deal value EUR 200m EUR 470m EUR 180m Not disclosed Not disclosed Not disclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to BioAlliance Pharma to Nordea Group to Danish Crown to Fortum Group to Fortum Group to Fortum Group

6 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

April 2014 February 2014 February 2014 January 2014 January 2014 January 2014 Private Vestas and Public offer for Sale of Public offer for Fairness Opinion placement Mitsubishi JV Scania (37%) Place tombstone Norwegian Car here Carrier JV with Acquisition of Sale to Acquisition of and Deal value Deal value DealH: value19.59 Deal value Deal value Deal value EUR 600m EUR 6.7bn DKKV: 13.1bn 3.4 EUR 1.9bn NOK 2.1bn DKK 41.0bn

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Fairness opinion to Vestas Wind Systems to Volkswagen to DONG Energy to Rautaruukki to Klaveness Marine to Shareholders & J.P. Morgan

November 2013 September 2013 September 2013 August 2013 August 2013 July 2013 Sale of Sale of 11% Sale of Logstor Sale of ISS Hartwall Demerger of YIT Corenet stake in Matas Nordic Damage and subsequent Control listing of Damage Control Caverion Sale to Sale to Sale to Sale to Acquisition of Demerger of Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed DKK 583m Not disclosed Not disclosed EUR 443m EUR 1.9bn

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to VR-Group and TDC to CVC and Materialisterne to Sellers to ISS Group to Royal Unibrew to YIT and Lead Manager in the listing of Caverion

June 2013 June 2013 May 2013 May 2013 April 2013 - withdrawn April 2013 Sale of Merger of Sale of ISS Pest Control Public offer for Sale of Nordea Bank Borgestad 80% stake in Cermaq Cardinal Foods Poland Industries and Widerøe’s Polska Borgestad Flyveselskap Sale to Merger with Sale of Acquisition of Acquisition of Create Sale to Deal value Deal value Deal value Deal value Deal value Deal valuetombstone EUR 694m NOK 239m SEK 2.0bn DKK 2.0bn NOK 13.0bn Not disclosedhere Pest Control Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Nordea Group to Borgestad to SAS to Anticimex to Marine Harvest to CapMan and Cardinal Foods

7 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

March 2013 February 2013 January 2013 December 2012 December 2012 November 2012 Merger of 60% stake in ICA Mandatory offer Sale of Sale of KMD Sale of SF Bio and for Jeudan Wilhelm Stoll Fortum’s small- FinnKino Maschinenfabrik scale hydro power plants Merger of Acquisition of Offer for Create Sale to Sale of Sale to Deal value Deal value Deal value Deal valuetombstone Deal value Deal value SEK 3.0bn SEK 20.0bn DKK 14.0bn Not disclosedhere Not disclosed Not disclosed

Financial Adviser Joint Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Bonnier to Hakon Invest to Jeudan to Seller to EQT to Fortum

October 2012 September 2012 September 2012 September 2012 August 2012 August 2012 Sale of Merger of Uponor Sale of Sale of Sale of Merger of Fortum’s small- infrastructure Espresso House PetVett Luottokunta Munksjö and scale hydro solution divison Ahlstrom Label (Infrastructure power plants and KWH pipe Solutions division) and Processing Sale to Merger with Sale of Sale to Sale to Merger with Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed Not disclosed Not disclosed Not disclosed EUR 170m Not disclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Fortum to Uponor Corporation to Palamon to Seller to the Seller and Luottokunta to EQT and Munksjö

July 2012 July 2012 June 2012 May 2012 April 2012 April 2012 Helly Hansen Sale of Sale of Sale of Sale of Kuwait Petroleum Staubo Däckia 49% of Lemken 24.9% stake in DK Elektro-Maskin Stoll France Metsä Fibre

Acquisition of Sale to Sale of Sale to Sale to Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed Not disclosed SEK 675m Not disclosed EUR 472m Not disclosed

Financial Adviser Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser Financial Adviser Financial Adviser to Ontario Teachers’ Pension to Selling Shareholder to Procuritas to STOLL to Seller to OK Ekonomisk Förening Plan

8 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

April 2012 April 2012 March 2012 March 2012 February 2012 February 2012 Public offer for Anticimex Sale of Norske Skog Sale of Sale of Dan-Ejendomme 60% of Killin Follum Ahlsell Mita-Teknik Holding Pensionskassernes Voima Oy and 14 Ejendomme hydropower Acquisition of Acquisition of plants Sale to Acquisition of Sale of Sale to Deal value Deal value Deal value Koillis- Deal value Deal value Deal value Satakunnan DKK 513m SEK 2.7bn Not disclosed Sähkö / NOK 60m SEK 15.5bn Not disclosed Koskienergia Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Co-Adviser Financial Adviser to Pensionskassernes to EQT to Fortum to Viken Skog to Cinven & Goldman Sachs to Sellers Ejendomme

February 2012 February 2012 January 2012 January 2012 January 2012 January 2012 Sale of Sale of Inoxum Sale of Sale of Public offer for UPM packaging 51% stake in 38% of CT Fortum Aspiro paper assets (Paper packaging Salmon Brands Offshore Energiaratkaisut assets) and Fortum Sale to Sale of Acquisition of Partial sale to Termest Sale to Acquisition of Deal value Deal value Salmon Deal value Deal value Deal value Deal value EUR 130m Not disclosed Brands EUR 2.7bn Not disclosed c. EUR 200m SEK 340m

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to UPM to TINE to to Sellers to Fortum to Schibsted

October 2011 September 2011 September 2011 August 2011 July 2011 July 2011 Sale of Sale of Sale of Sale of Pysslingen Atos Medical Wintech Securitas Direct JF-Stoll PoB:s Elektriska

Sale to Sale of Sale to Sale to Acquisition of Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed SEK 21.0bn Not disclosed Not disclosed SEK 686m Not disclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Sellers to EQT to Sellers to Sellers to Academedia to EQT

9 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

July 2011 July 2011 July 2011 July 2011 June 2011 June 2011 Sale of Sale of Sale of Havsbrun Sale of Public offer for Corvara Industri- Sydtotal Ramboll Unimerco Group Tekla & Skadeservice Informatik

Sale to Sale of Sale to Acquisition of Sale to Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed Not disclosed Not disclosed DKK 1.1bn Not disclosed EUR 319m

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Corvara Holding to Priveq to Rambøll Group to Bakkafrost to Sellers to Trimble Navigation Limited

May 2011 May 2011 April 2011 March 2011 March 2011 February 2011 Sale of Public offer for Fairness opinion Sale of Public tender Sale of Interwheel Danisco Bringsvor Laks offer for Media Maskinflisning Norge

Sale to Acquisition of Acquisition of Sale to Sale to Sale to Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed EUR 4.9bn SEK 346m NOK 141m NOK 7.6bn Not disclosed

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser to Interwheel to DuPont to Tretti to Sellers to Media Norge to Sellers

February 2011 January 2011 December 2010 December 2010 December 2010 November 2010 Public offer for Sale of Sale of Hafslund OneMed Group Certain assets in Q-Med EET Nordic Lemminkäinen’s Fibernett Decernogruppen roofing business

Sale to Sale to Sale to Acquisition of Acquisition of Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value SEK 7.7bn Not disclosed EUR 25m NOK 1.5bn Not disclosed SEK 146m (Certain assets)

Financial Adviser Financial Adviser Financial Adviser Financial Adviser Financial Adviser Appraisal Opinion to Q-Med to Sellers to Lemminkäinen to EQT to 3i to Addnode

10 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

November 2010 October 2010 September 2010 August 2010 June 2010 June 2010 Sale of Sale of Public offer for Sale of Public offer for Public offer for 29% stake in CT Nergård Munters Farmos Academedia Maconomy Offshore

Partial sale to Partial sale of Acquisition of Sale to Acquisition of Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed Not disclosed SEK 5.7bn Not disclosed SEK 2.5bn DKK 470m

Exclusive Financial Adviser Financial Adviser Financial Adviser Financial Adviser Exclusive Financial Adviser Financial Adviser to Seller to Lysnes Invest and Hopen to Nordic Capital to Seller to EQT to Deltek Invest

May 2010 April 2010 April 2010 January 2010 December 2009 December 2009 Sale of Nordic three-way Nets, PBS, Certain assets in Swedegas Public tender Welho merger Nordito, BBS and Clipper offer for Larox Teller

Sale to Merger with Acquisition of Acquisition of Acquisition of Deal value Deal value Deal value Deal value Deal value Deal value EUR 200m Not disclosed Not disclosed DKK 100m Not disclosed EUR 93m (Certain assets)

Financial Adviser Financial Adviser Financial Lead Adviser Financial Adviser Exclusive Financial Adviser Arranger to Seller to Synsam and majority owner to PBS Holding to Nordic Tankers to EQT for Outotec Alipes

November 2009 October 2009 October 2009 July 2009 June 2009 June 2009 Fionia Bank Kommunekemi Divestment of Public offer for Merger of Post Sale of certain assets Water Jet Danmark and A2SEA and contracts to Sweden Posten Sverige GLS Acquisition of Acquisition of Asset sale to Acquisition of Merger with Sale to Deal value Deal value Deal value Deal value Deal value Deal value DKK 900m DKK 260m Not disclosed SEK 92m Not disclosed DKK 1.3bn

Exclusive Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser Executive Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser to Nordea to EQT to PostNord to Vega Ronneby to Post Denmark, CVC and to Seller the Danish state

11 M&A credentials Nordea Markets – Investment Banking Selected M&A credentials

June 2009 February 2009 January 2009 January 2009 December 2008 November 2008 Sale of Public mandatory Public offer for Fairness opinion KMD Nine branches of Paloheimo offer for Scania Broström Roskilde Bank

Sale to Acquisition of Acquisition of Sale of Acquisition of Acquisition of Deal value Deal value Deal value Deal value shares in Deal value Deal value Not disclosed SEK 31.6bn SEK 3.6bn DKK 276m DKK 2.0bn EUR 800m

Financial Adviser Financial Adviser Arranger Financial Adviser Exclusive Financial Adviser Financial Adviser to Paloheimo to Porsche for A.P Møller - Mærsk to Lundbeck to EQT & ATP to Nordea

September 2008 July 2008 May 2008 April 2008 April 2008 March 2008 Sale of EDB Gruppen Sale of Sale of Stryhn’s Sale of YaWah TM Metal Baltic Oden Regional to MBO transmission grid consortium (Transmission grid) Sale to Acquisition of Sale to Acquisition of Sale to Deal value Deal value Deal value Deal value Deal value Deal value Not disclosed DKK 604m Not disclosed Not disclosed Not disclosed DKK 2.0bn

Exclusive Financial Adviser Exclusive Adviser Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser to YaWah to Nordic Capital to TM Metal Baltic to Seller to Agra to DONG Energy

March 2008 March 2008 January 2008 January 2008 December 2007 December 2007 Telelogic Weibulls Maersk car Sale of Sale of Sale of carrier fleet Empower Argos Soditic Gycom and Maillefer

Acquisition of Acquisition of Acquisition of Sale of Sale to Sale to Deal value Deal value Deal value Deal value Deal value Deal value

EUR 555m Not disclosed Not disclosed (car carrier fleet) Not disclosed Not disclosed Not disclosed

Exclusive Financial Adviser Exclusive Financial Adviser Exclusive Financial Adviser Financial Adviser Exclusive Financial Adviser Financial Adviser to IBM to Econova to Höegh Autoliniers to Seller to Argos Soditic to Gycom

12 M&A credentials