Jyske Bank : Standard and Poors has revised Jyske Banks senior rating to ”Positive outlook”

Corporate Announcement

JYSKE BANK

Jyske Bank A/S Vestergade 8-16 DK-8600 Silkeborg Tel. [phone]www.jyskebank.dk

E-mail:[e-mail] Reg. No. (CVR): DK17616617

6 April 2018

Standard and Poors has revised Jyske Banks senior rating to "Positive outlook"

Standard and Poors (S&P) has published a changed outlook for Jyske Banks senior ratings; i.e. to "Positive outlook" from "Stable outlook". Jyske Banks long term and short term ratings are A-/A-2 respectively.

The background for S&P's action is the requirements from the Danish FSA to Jyske Bank with respect to issuance of the so called MREL liabilities. Such liabilities has lower credit ranking than ordinary senior liabilities. Issuance of MREL liabilities will a consequence gradually make up a larger loss absorbing buffer for senior creditors in Jyske Bank.

S&P reacts up front based on Jyske Banks funding plan of the required MREL issuance. The plan includes regular issuance over the coming years - starting in the 2nd half of 2018. The total issuance amount is expected to reach the interval DKK bn 15 - 18.

Yours faithfully,

Jyske Bank

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Jyske Bank Corporate Announcement No. 22/2018, 6 April 2018

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