Oslo Børs VPS Holding ASA 4th Quarter 2008

2. Oslo Børs VPS Holding ASA4th Quarter 2008 27 January 2008

3. Overview

4. Fourth quarter highlights • Letter of intent for strategic co-operation with the London Stock Exchange • Considers Central counterparty (CCP) arrangement for shares • Somewhat lower level of market activity • Goodwill and system write-down of NOK 376 million • Higher amortisation due to change in amortisation periods • Proposed dividend of NOK 5 per share • Operating revenues: NOK 273.4 million (proforma 321.8) • Operating profit before depreciation and write-downs: NOK 119.5 million (proforma 189.1) • Operating profit: NOK -296.2 million (proforma 169.1) • Earnings for the period: NOK -306.8 million (proforma 128.2) • Earnings per share: NOK -7.13 (actual 2.97/proforma 2.98)

5. The market activity in fourth quarter

6. Events and activities in the fourth quarter New trading system under consideration CCP under consideration Link Up Markets Chi-X, Turquoise, Nasdaq OMX Europe and BATS Europe has started trading in Norwegian stocks Turbulent market conditions

7. Activities - 2008 Evaluate the value chain and implement measures based on the evaluation Intensify market activities both locally and internationally Development and improvement of products in all areas Co-ordinated focus on the retail segment, including considering new system for fund products New trading systems Realise synergies

8. Activities 2009 • Implement a new trading system • Implement central counterparty arrangements for trading in equity instruments • Improve the efficiency of operations and development • Increased focus on strong sectors • Further development of the derivatives area • Increase revenue from value-adding services

9. Financial review

10. Important information • This section of the presentation contains proforma financial information and historical financial information for periods in which VPS, Oslo Clearing and Oslo Market Solutions (part of Market Data and Solutions) were not a part of Oslo Børs VPS Holding Group. • The numbers are derived from actual numbers for VPS, Oslo Clearing and Oslo Market Solutions and have been adjusted for differences between Norwegian GAAP and IFRS and depreciation of excess values identified in the purchase price allocation that has been prepared by independent financial advisers.

11. P&L 4th Quarter 2008

12. Oslo Børs • Transactions up 35%, value of turnover down 50% • 2 new listings in Q4 – net decrease 5 • Trading revenues down NOK 11 million • Listing/admission/prospectus – down NOK 16 million • Market data – down NOK 1 million

13. VPS • Transactions processed up 40% - revenues down NOK 3 million • Investor products – revenues down NOK 4 million • Issuer products – revenues down NOK 2 million • Fund products – revenues down NOK 3 million • Writedown of goodwill – NOK 250 million

14. Oslo Clearing • Reduction in revenues from all products • Reclassification between revenues/costs • Writedown of goodwill and systems – NOK 87 million

15. Oslo Market Solutions • Increased internal revenues and costs • Reduction in capitalising of internal resources • Writedown of goodwill and systems – NOK 39 million

16. Balance sheet

17. Cash flow

18. Equity

19. Share price

20. Largest shareholders

22. Breakdown revenues – Oslo Børs segment

23. Breakdown revenues – VPS segment (proforma)