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B2HOLDING ASA - 4Q'2018 REPORT, STRONG GROWTH IN Q4 WITH RECORD HIGH GROSS COLLECTION – 59% GROWTH IN CASH EBITDA Y-O-Y, ERC OF NOK 22.3BN, STRONG PIPELINE NPL PORTFOLIOS AND SOLID GROWTH CAPACIT

2019-02-28

Fourth quarter 2018 * Gross cash collection of NOK 1,169 million (723) - up 62% y-o-y

* Operating profit of NOK 326 million (301), and adjusted NOK 387 million - up 8% y-o-y, and adjusted up 29% y-o-y

* Cash EBITDA of NOK 833 million (524) - up 59% y-o-y

* ERC at end of month NOK 22,262 million (15,264) - up 46% y-o-y

(Comparable numbers for Q4 2017 in brackets)

B2Holding (“B2H”) continued the positive operational growth and the fourth quarter 2018 represents a strong end to the year. The Group recorded all-time high levels in cash collection and Cash EBITDA and other key performance indicators. The Group posted a record-high quarterly cash EBITDA of NOK 833 million, an increase of NOK 309 million compared to Q4 2017 (+59%). Total operating revenue increased to NOK 753 million from NOK 622 million in Q4 2017 (+21%) and the operating profit landed at NOK 326 million (+8%).

The Group sold portfolios that generated a net positive cash gain. The sale generated an accounting loss of net NOK 61 million due to booking of interest income in accordance with the effective interest method. Adjusted for this effect, the operating revenue was NOK 814 million (+31%) and the operating profit was NOK 387 million (+29%). B2H invested NOK 1,634 million in new portfolios in fourth quarter. The portfolios were mainly purchased in Northern Europe, and 74% of the purchases in the quarter were unsecured portfolios. In line with the strategy the Group has made its first portfolio purchases in Spain and Portugal, an important addition to the Western Europe region for the Group. The Group has acquired portfolios for NOK 6.4 billion over the last 12 months (+55%) and grown the total gross ERC to approx. NOK 22.3 billion (+46%). The Group entered two new strategic co-investment structures in October with Waterfall Asset Management and the European Bank for Reconstruction and Development (EBRD), related to portfolio purchases in Greece.

At the end of the fourth quarter the Group has NOK 1.3 billion available for investments in addition to strong operating cash flow from collections of purchased loan portfolios. Based on the current financing of the Group and estimated cash flow in 2019, the Group has investment capacity for 2019 of approximately NOK 5.4 billion and is thus well positioned to take advantage of the current market with strong pipeline and attractive returns. For further information, please see the Q4 2018 presentation and report attached. The documents are also available on the Company's website: http://www.b2holding.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act