[Logit hefr Baldr at Baldri]
linns, sás land á sunnar,
láðbrjótr, fyrir ráða.
Sjá mun Njǫrðr inn nørðri
(norðr) glymhríðar borða
(gramr est frœkn) ok fremri
[Baldr] brynþings [hefr logit at Baldri] fetilstinga, linns láðbrjótr, sás á land sunnar ráða fyrir. Sjá inn nørðri Njǫrðr glymhríðar borða mun hôla fastmálari ok fremri; gramr, est frœkn norðr.
[The Baldr <god>] of the byrnie-assembly [BATTLE > WARRIOR = Sveinn] [has broken faith with the Baldr <god>] of sword-belt stabbers [SWORDS > WARRIOR = Haraldr (= me)], the breaker of the land of the snake [(lit. ‘snake’s land-breaker’) GOLD > GENEROUS MAN = Sveinn] who has a land farther south to rule over. That, the more northerly, Njǫrðr <god> of the clashing storm of shields [BATTLE > WARRIOR = Haraldr] must be vastly more true to his word and more outstanding; lord, you are bold in the north.
 hôla (‘hala’): halla Flat
 hôla ‘vastly’: The adv. is assumed here to modify fastmálari ok fremri ‘more true to your word and more outstanding’ (ll. 7-8). It is instead taken with frœkn ‘bold’ (l. 7) in Skj B, but this entails an awkward w. o., to which Kock objected in NN §870.
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