HSH Nordbank plans increase in guarantee to the original amount

Management Board approves medium-term forecast
Return to profit territory projected for 2014

Hamburg/Kiel, February 6, 2013 - Today the Supervisory Board of HSH Nordbank took due note of the Management Board’s medium-term forecast. The forecast includes an increase in the guarantee facility from EUR 7 billion to the original amount of EUR 10 billion in order to ensure adequate capital resources.

The cost of an increase in the guarantee has already been included in the medium-term forecast. Apart from the additional loan loss provisioning requirements from the Bank’s legacy portfolios, especially from the shipping sub-segment, as announced in November 2012, these result in the losses projected in the forecast. According to the forecast, the Bank projects a loss based on international accounting (IFRS) in 2013 before projecting a profit again in 2014.

The Bank is asking its shareholders to initiate the necessary steps to increase the guarantee facility. The guarantee is to be increased by the federal states or additionally via the participation of private investors.

“Replenishment of the guarantee will strengthen our Tier 1 capital ratio on a sustained basis. This will enable the Bank to meet the requirements of the rating agencies and investors and to continue along its successful path as a bank for entrepreneurs,” said Constantin von Oesterreich after today’s meeting of the Supervisory Board.

On the basis of German GAAP, which is relevant for the holders of silent capital contributions, the Bank is expected to break even again in 2015. The Bank has issued an ad-hoc announcement to this effect today.

The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.

This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.

Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.