Bayerische Brienner Str. 18 80333 München Telefon: +49 89 2171 - 01 Telefax: +49 89 2171 - 23578 E-Mail: [email protected] Internet: www.bayernlb.de

Publication according to section 28 para. 1 nos. 1 and 3 Pfandbrief Act

Pfandbriefe outstanding and their cover Q4 2019

Outstanding total nominal value net present value risk-adjusted net present value* Q4 2019 Q4 2018 Q4 2019 Q4 2018 Q4 2019 Q4 2018

Mortgage Pfandbriefe (€ mn.) 3.999,6 2.734,9 4.111,0 2.800,0 3.972,8 2.737,8 of which derivatives (€ mn.) ------

Cover Pool (€ mn.) 7.468,5 6.310,9 8.066,6 6.704,1 7.690,7 6.451,3 of which derivatives (€ mn.) ------

Over Collateralization (OC) (€ mn.) 3.468,9 3.576,0 3.955,6 3.904,0 3.717,9 3.713,5 OC in % of Pfandbriefe outstanding 86,7 130,8 96,2 139,4 93,6 135,6

Over-Collateralization in Consideration of vdp-Credit- (€ mn.) 3.468,9 3.576,0 3.955,6 3.904,0 Quality-Differentiation-Model OC in % of Pfandbriefe outstanding 86,7 130,8 96,2 139,4

* The dynamic approach was used for calculating the risk-adjusted net present value according to section 5 para. 1 no. 2 of the Net Present Value Regulation (PfandBarwertV).

Outstanding total nominal value net present value risk-adjusted net present value* Q4 2019 Q4 2018 Q4 2019 Q4 2018 Q4 2019 Q4 2018

Public Pfandbriefe (€ mn.) 17.936,7 17.686,7 19.947,0 19.229,5 18.681,9 18.020,9 of which derivatives (€ mn.) ------

Cover Pool (€ mn.) 22.365,5 22.769,3 25.688,9 25.283,2 23.439,1 23.477,8 of which derivatives (€ mn.) ------

Over Collateralization (OC) (€ mn.) 4.428,9 5.082,6 5.741,9 6.053,6 4.757,3 5.457,0 OC in % of Pfandbriefe outstanding 24,7 28,7 28,8 31,5 25,5 30,3

Over Collateralization in Consideration of vdp-Credit- (€ mn.) 4.428,9 5.082,6 5.741,9 6.053,6 Quality-Differentiation-Model OC in % of Pfandbriefe outstanding 24,7 28,7 28,8 31,5

* The dynamic approach was used for calculating the risk-adjusted net present value according to section 5 para. 1 no. 2 of the Net Present Value Regulation (PfandBarwertV).

Note: The release of the over collateralization with a view to the vdp-credit quality differentiation model is voluntary.

page 1 Publication according to section 28 para. 1 no. 2 Pfandbrief Act

Maturity structure of Pfandbriefe outstanding and their respective cover pools Q4 2019

Mortgage Pfandbriefe Q4 2019 Q4 2018 Pfandbriefe outstanding Cover pool Pfandbriefe outstanding Cover pool Maturity: € mn. € mn. € mn. € mn.

<= 0,5 years 50,0 704,7 325,5 198,3 > 0,5 years and <= 1 year 128,7 652,5 423,1 313,8 > 1 year and <= 1,5 years 35,1 264,1 50,0 310,2 > 1,5 years and <= 2 years 520,5 347,4 128,7 720,9 > 2 years and <= 3 years 871,7 931,2 58,4 658,1 > 3 years and <= 4 years 610,5 978,7 657,5 765,0 > 4 years and <= 5 years 500,0 849,1 110,5 790,8 > 5 years and <= 10 years 1.203,1 2.482,2 944,7 2.460,4 > 10 years 80,0 258,7 36,5 93,5

Public Pfandbriefe Q4 2019 Q4 2018 Pfandbriefe outstanding Cover pool Pfandbriefe outstanding Cover pool Maturity: € mn. € mn. € mn. € mn.

<= 0,5 years 792,0 1.430,3 433,8 1.586,8 > 0,5 years and <= 1 year 460,6 1.846,5 945,7 1.230,3 > 1 year and <= 1,5 years 440,2 1.025,0 774,5 880,3 > 1,5 years and <= 2 years 1.916,2 953,3 458,1 1.811,0 > 2 years and <= 3 years 1.962,7 1.671,9 2.059,7 1.934,0 > 3 years and <= 4 years 1.678,0 1.716,3 1.804,2 1.553,7 > 4 years and <= 5 years 2.306,8 1.992,7 1.349,2 1.620,5 > 5 years and <= 10 years 5.756,7 5.476,1 7.073,0 6.265,3 > 10 years 2.623,5 6.253,6 2.788,4 5.887,5

page 2 Publication according to section 28 para. 2 no. 1 a Pfandbrief Act, section 28 para. 3 no. 1 Pfandbrief Act and section 28 para. 4 no. 1 a Pfandbrief Act

Mortgage used as cover for Mortgage Pfandbriefe according to their amount in tranches Q4 2019

Cover Assets Q4 2019 Q4 2018 € mn. € mn. up to 300,000 Euros 2,8 2,6 more than 300,000 Euros up to 1 mn. Euros 21,9 22,1 more than 1 mn. Euros up to 10 mn. Euros 1.084,9 1.026,8 more than 10 mn. Euros 5.929,8 4.910,4 Total 7.039,5 5.961,9

Cover Assets used to secure public Pfandbriefe according to their amount in tranches Q4 2019

Cover Assets Q4 2019 Q4 2018 € mn. € mn. up to 10 mn. Euros 3.515,3 3.483,8 more than 10 mn. Euros up to 100 mn. Euros 5.432,1 5.369,2 more than 100 mn. Euros 13.104,7 13.607,8 Total 22.052,0 22.460,8

page 3 Publication according to section 28 para. 2 no. 1 b, c and no. 2 Pfandbrief Act

Volume of claims used to cover Mortgage Pfandbriefe according to states in which the real property is located, according to property type and the total amount of payments in arrears for at least 90 days as well as the total amount of these claims inasmuch as the respective amount in arrears is at least 5 percent of the claim Q4 2019

Cover assets Total amount Total amount of these Total thereof of payments claims inasmuch as Residential Commercial in arrears for the respective amount Total thereof Total thereof at least 90 in arrears is at least days 5 percent of the claim Apartments Single-and Multiple- Buildings Building land Office Retail Industrial other Buildings Building land two-family family houses under buildings buildings buildings commercially under houses construction used construction buildings

State Q4 € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. Total - all states year 2019 7.039,5 1.117,3 6,2 - 1.052,4 - 58,6 5.922,2 2.647,9 1.929,7 29,7 979,0 336,0 - - - year 2018 5.961,9 1.180,4 6,4 2,2 1.100,6 19,1 52,1 4.781,5 2.354,6 1.659,1 8,3 641,6 115,9 1,9 - - year 2019 5.017,8 1.110,7 6,2 - 1.052,4 - 52,0 3.907,1 1.458,8 1.230,5 29,7 852,2 336,0 - - - year 2018 4.493,1 1.173,8 6,4 2,2 1.100,6 19,1 45,5 3.319,3 1.340,3 1.270,0 8,3 597,5 101,2 1,9 - - Belgium year 2019 65,0 6,6 - - - - 6,6 58,4 51,4 7,0 ------year 2018 41,5 6,6 - - - - 6,6 34,9 34,9 ------France year 2019 352,6 ------352,6 312,9 39,7 ------year 2018 304,9 ------304,9 260,5 44,3 ------Great Britain year 2019 397,2 ------397,2 239,0 158,2 ------year 2018 286,7 ------286,7 286,7 ------Italy year 2019 189,5 ------189,5 28,4 161,1 ------year 2018 65,4 ------65,4 18,5 47,0 ------Netherlands year 2019 412,4 ------412,4 331,9 11,5 - 69,0 - - - - year 2018 286,1 ------286,1 242,0 - - 44,1 - - - - year 2019 72,8 ------72,8 - 45,7 - 27,1 - - - - year 2018 45,7 ------45,7 - 45,7 ------Poland year 2019 196,2 ------196,2 71,3 124,9 ------year 2018 215,1 ------215,1 72,8 142,4 ------Slovakia year 2019 3,0 ------3,0 - 3,0 ------year 2018 3,0 ------3,0 - 3,0 ------Spain year 2019 92,7 ------92,7 - 92,7 ------year 2018 66,5 ------66,5 - 51,8 - - 14,7 - - - Czech Republic year 2019 94,2 ------94,2 58,7 35,5 ------year 2018 94,2 ------94,2 58,7 35,5 ------Switzerland year 2019 20,1 ------20,1 - 20,1 ------year 2018 19,4 ------19,4 - 19,4 ------USA year 2019 126,2 ------126,2 95,5 - - 30,7 - - - - year 2018 40,3 ------40,3 40,3 ------

page 4 Publication according to section 28 para. 3 no. 2 Pfandbrief Act

Volume of claims used to cover Public Pfandbriefe Q4 2019

Cover assets

Total thereof owed by thereof granted by in the total included claims State Regional Local Other debtors State Regional Local Other debtors which are granted for reasons authorities authorities authorities authorities of promoting exports State Q4 € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. Total - all states year 2019 22.052,0 1.718,8 229,5 2.790,8 9.365,9 1.357,1 1.644,5 6.014,1 493,1 157,0 year 2018 22.460,8 1.480,1 271,1 3.356,5 9.383,3 1.449,4 1.480,1 5.869,7 481,2 169,5 Germany year 2019 20.807,5 1.205,9 229,5 2.790,8 8.743,3 1.271,6 1.210,5 5.971,1 433,7 157,0 year 2018 21.139,7 931,0 232,7 3.356,5 8.762,7 1.361,0 931,0 5.869,7 456,6 169,5 Belgium year 2019 43,0 43,0 - - - - - 43,0 - - year 2018 ------Denmark year 2019 35,9 35,9 ------35,9 - year 2018 ------France year 2019 241,3 241,3 - - - - 241,3 - - - year 2018 314,7 276,3 38,4 - - - 276,3 - - - Great Britain year 2019 770,7 170,5 - - 600,3 - 170,5 - - - year 2018 837,9 242,4 - - 595,5 - 242,4 - - - Luxembourg year 2019 ------year 2018 1,9 1,9 - - - - 1,9 - - - Austria year 2019 ------year 2018 1,3 1,3 - - - - 1,3 - - - Sweden year 2019 23,5 ------23,5 - year 2018 24,6 ------24,6 - Spain year 2019 4,0 - - - 4,0 - - - - - year 2018 8,0 - - - 8,0 - - - - - Canada year 2019 18,4 - - - 18,4 - - - - - year 2018 17,2 - - - 17,2 - - - - - USA year 2019 22,2 22,2 - - - - 22,2 - - - year 2018 27,2 27,2 - - - - 27,2 - - - EU institutions year 2019 85,5 - - - - 85,5 - - - - year 2018 88,4 - - - - 88,4 - - - -

page 5 Publication according to section 28 para. 3 no. 3 Pfandbrief Act

Total amount of payments in arrears for at least 90 days as well as the total amount of these claims inasmuch as the respective amount in arrears is at least 5 percent of the claim Q4 2019

Total amount of these claims inasmuch as the respectiveamount in arrears is Amount of claims in arrears for at least 90 days at least 5 % of the claim Total thereof Total thereof State Regional Local Other debtors State Regional Local Other debtors authorities authorities authorities authorities

State Q4 € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. € mn. Total - all states year 2019 0,7 0,6 0,1 - - 7,2 7,0 0,2 - - year 2018 0,1 - 0,1 - - 0,2 - 0,2 - - Germany year 2019 0,1 - 0,1 - - 0,2 - 0,2 - - year 2018 0,1 - 0,1 - - 0,2 - 0,2 - - Belgium year 2019 ------year 2018 ------Denmark year 2019 ------year 2018 ------France year 2019 0,6 0,6 - - - 7,0 7,0 - - - year 2018 ------Great Britain year 2019 ------year 2018 ------Luxembourg year 2019 ------year 2018 ------Austria year 2019 ------year 2018 ------Sweden year 2019 ------year 2018 ------Spain year 2019 ------year 2018 ------Canada year 2019 ------year 2018 ------USA year 2019 ------year 2018 ------EU institutions year 2019 ------year 2018 ------

page 6 Publication according to section 28 para. 1 nos. 4, 5 and 6 Pfandbrief Act

Further cover assets - in detail for Mortgage Pfandbriefe Q4 2019

Further cover assets for Mortgage Pfandbriefe according to section 19 para. 1 nos. 1, 2 and 3 Pfandbrief Act

Total thereof equalization claims claims according to claims according to according to section 19 para. 1 no. 2 section 19 para. 1 no. 3 section 19 para. 1 no. 1 overall thereof Covered Bonds according to Article 129 Regulation (EU) Nr. 575/2013 State Q4 € mn. € mn. € mn. € mn. € mn. Total - all states year 2019 429,0 - - - 429,0 year 2018 349,0 - - - 349,0 Germany year 2019 399,0 - - - 399,0 year 2018 319,0 - - - 319,0 EU institutions year 2019 30,0 - - - 30,0 year 2018 30,0 - - - 30,0

page 7 Publication according to section 28 para. 1 nos. 4 and 5 Pfandbrief Act

Further cover assets - in detail for Public Pfandbriefe Q4 2019

Further cover assets for Public Pfandbriefe according to section 20 para. 2 nos. 1 and 2 Pfandbrief Act

Total thereof equalization claims claims according to according to section 20 para. 2 no. 2 section 20 para. 2 no. 1 overall thereof Covered Bonds according to Article 129 Regulation (EU) Nr. 575/2013 State Q4 € mn. € mn. € mn. € mn. Total - all states year 2019 313,5 - 313,5 - year 2018 308,5 - 308,5 - Germany year 2019 313,5 - 313,5 - year 2018 308,5 - 308,5 -

page 8 Publication according to section 28 para. 1 nos.7, 8, 9, 10 and 11 Pfandbrief Act and section 28 para. 2 no. 3 Pfandbrief Act

Key figures about outstanding Pfandbriefe and Cover Pool Q4 2019

Mortgage Pfandbriefe

Q4 2019 Q4 2018

Outstanding Pfandbriefe (€ mn.) 3.999,6 2.734,9 thereof percentage share of fixed-rate Pfandbriefe % 78,8 90,9 section 28 para. 1 no. 9

Cover Pool (€ mn.) 7.468,5 6.310,9 thereof total amount of the claims which exceed the limits laid down in § 13 para. 1 (€ mn.) - - section 28 para. 1 no. 7 thereof total amount of the claims which exceed the percentage threshold laid down in § 19 para 1 no. 2 (€ mn.) - - section 28 para. 1 no. 8 thereof total amount of the claims which exceed the percentage threshold laid down in § 19 para 1 no. 3 (€ mn.) - - section 28 para. 1 no. 8 thereof percentage share of fixed-rate cover assets % 68,1 71,0 section 28 para. 1 no. 9 Net present value pursuant to CAD - - § 6 of the Pfandbruef Net Present Value Regulation CHF 47,7 75,1 for each foreign currency in Euro CZK - - section 28 para. 1 no. 10 (Net Total) DKK - - GBP 411,4 295,8 HKD - - JPY - - NOK - - SEK - - USD 133,0 -218,2 AUD - - volume-weighted average of the matuerity that has passed since the was granted (seasoning) years 4,5 4,5 section 28 para. 1 no. 11 average loan-to-value ratio, weighted using the mortgage lending value % 56,9 57,1 section 28 para. 2 no. 3 average loan-to-value ratio, weighted using the market value % - -

page 9 Public Pfandbriefe

Q4 2019 Q4 2018

Outstanding Pfandbriefe (€ mn.) 17.936,7 17.686,7 thereof percentage share of fixed-rate Pfandbriefe % 89,5 90,0 section 28 para. 1 no. 9

Cover Pool (€ mn.) 22.365,5 22.769,3 thereof total amount of the claims which exceed the percentage threshold laid down in § 20 para 2 (€ mn.) - - section 28 para. 1 no. 8 thereof percentage share of fixed-rate cover assets % 92,2 93,7 section 28 para. 1 no. 9 Net present value pursuant to CAD 19,7 18,4 § 6 of the Pfandbruef Net Present Value Regulation CHF 4,0 4,3 for each foreign currency in Euro CZK - - section 28 para. 1 no. 10 (Net Total) DKK - - GBP 244,2 222,4 HKD - - JPY - - NOK - - SEK - - USD -223,9 76,4 AUD - -

page 10