Strengths

Unique business model with a clear focus, cycle-neutral business approach and global
presence in all key transport markets

Conservative and sustainable business policy

Flat hierarchies, high degree of flexibility and lean decision-making

Highly qualified and experienced staff

Customised products and services, high level of client service and close contacts to
manufacturers and leasing companies

Extensive market and asset expertise

Credit portfolio diversified by multiple criteria and categories

Advanced risk management and pricing systems

Maturity matched funding

Strong capital base due to own funds

Weaknesses

Relatively high sector exposure

Global presence requires high staff resources

High staff costs due to high levels of employee qualification in terms of academic
expertise and experience

No material client deposits

Dependence on the money and capital markets

Exposure to the Euro/US dollar exchange rate, with an impact on growth and results

Opportunities

Realisation of margins in line with risks taken

Expansion of anti-cyclical Investment Management activities

Building new client relationships

Funding available through the extensive liquidity offered by the German Cooperative
Financial Services Network

Expanding the advisory and other services offered to clients, investors, and banks

Boosting our reputation as a reliable partner to the international transport industry

Threats

Distortions on the money and capital markets, in the broadest sense

Decline in transport asset values in the various transport market segments

Impact of the global financial markets crisis and the sovereign debt crisis in Europe

Increasing debt levels in some industrial countries and emerging markets

Unanticipated rise of the US dollar against the Euro

Further government support for DVB's bank competitors growing regulatory

requirements

Spikes in crude oil prices