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SEB#33 01 SEB in brief 02 Financial update - Q1 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Approach to sustainability 07 Macro 08 Appendix#4SEB-a leading northern European bank with international reach New York Norway Finland Sweden Estonia United Denmark Netherlands St. Petersburg Latvia Lithuania Warsaw New Delhi Kyiv Beijing Shanghai Hong Kong Austria Kuala Lumpur • Singapore Dublin Kingdom Germany Luxembourg Switzerland Nice São Paulo Key financials Q1 2022 (FY 2021) • Unique customer base and leading market positions Engaged and long-term focused shareholder base Diversified business model delivering strong, profitable growth over time Strong capital and liquidity position Solid credit rating : AA- / Aa3 / A+ with stable outlook (Fitch/Moody's/S&P) Operating profit by division1 2021 Large Corporates & Financial Institutions Credit portfolio breakdown² 31 Dec 2021 ■Large corporates 9% Corporate & Private Customers 7% ■Swedish SMEs 41% ■Private Wealth Mgmt & Family Office 42% ■Commercial real estate ■Baltic 29% ■Swedish residential-related Life 29% Investment Mgmt Baltics 7% 6% Other Net ECL level C/I ratio 8% 8% 8bps (2) 0.39 (0.42) 11% CET1 ratio Return on equity 3% 18.7% (19.7) 13.4% (13.9) 4 1 Business divisions excluding Group functions and eliminations 2 Swedish residential-related includes household mortgages, residential real estate and housing co-ops SEB#5LO 5 Our efforts have resulted in high customer satisfaction... Large Corporates Prospera, Sweden and Nordics 1 Sweden 1 1 1 1 1–1 Financial Institutions Prospera, Sweden and Nordics 1 Sweden 1 SEB KANTAR PROSPERA 1—–1–1–1–1–1 Fixed income Prospera, Sweden 1 1 1 2 2 -2 KANTAR PROSPERA KANTAR MERA 3 3 1 1 1 1 1 1 1 2 2 2 2 2 KANTAR FROGHERA Nordics Nordics KANTAR PROSPHA 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 Corporates Swedish Quality Index (SKI) Private individuals Swedish Quality Index (SKI) Sweden Finansbarometern Peers in Sweden 2 Peers in Sweden 3 1 SKI SVENSKT KVALITETSINDEX 2 2 3 3 3 3 5-5 5 6 6 7—7—7 Business bank 1–1–1 22222–2 CSKI 2—2—2 SVENSKT KVALITETSINDEX 2-2-2-2-2-2 Small enterprise bank 8 8 8 All banks 4 All banks 4 2016 2017 2018 2019 2020 2021 est. 2000 Finans Barometerni ARETS AFFÄRSBANK 2021 Privata Affärer ÅRETS BANK 2021 'Bank of the Year' 2021 Sustainability advice Prospera, Sweden and Nordics Sweden 1-1-1 1 KANTAR PROSPERA 1-1-1 1 Nordics 2016 2017 2018 2019 2020 2021 Private Banking Prospera, Sweden 4—4—4 7-7 4 KANTAR PROSPERA 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 SEB 2016 2017 2018 2019 2020 2021 1 All Tiers. 2 Ranking including SEB, Handelsbanken, Swedbank, Nordea, Danske Bank. 3 Ranking including SEB, Handelsbanken, Swedbank, Nordea. 4 Banks with less than 300 respondents are summarised as one actor ('Other').#66 -10 ...allowing for an attractive profit growth over time SEK bn Operating income Profit before credit losses 70 60 50 50 40 40 30 20 10 0 1991 1993 1995 1997 1999 2001 2003 Operating expenses 2005 2007 2009 2011 2013 Credit losses Operating profit 2015 2017 2019 2021 CAGR 1990-2021 2011-2021 Operating income +5% +4% Operating costs +4% 0% Profit before +6% +9% credit losses SEB#77 ...and stable capital generation Return on risk exposure amount % 3.7% 3.4% 3.2% 2.7% 2.1% 3.0% 2.7% 2.6% 2.5% 2.0% 1.8% 1.6% السار 0.9% 1.2% 0.2% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 Average SEB#8Creating long-term shareholder value Dividends paid New dividend policy as of 2021: ~50% of net profit SEK bn 30 Total dividend Net profit ■Share buyback 25 25 20 15 10 5 SEB's largest shareholders Share of capital, 31 Mar 2022 Investor AB per cent 20.8 Alecta Pension Insurance 5.7 Trygg Foundation 4.5 Swedbank Robur Funds 4.4 AMF Insurance & Funds 4.1 BlackRock 2.6 Own shareholding 2.2 SEB Funds Vanguard Handelsbanken Funds Total share of foreign shareholders 2.1 2.1 1.6 27.6 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 DPS, SEK 2.75 4.00 4.75 5.25 5.50 5.75 6,00+ 0.00 4.10+ 6.00 0.50 4.10 Payout ratio 52% 59% 54% 66% 75% 70% 70% 0% 113% 51% Source: Euroclear Sweden/Modular Finance • A second SEK 2.5bn share buy back program is running Mar-Oct 2022. During 2022, we plan to distribute between SEK 5-10bn through share buybacks, subject to market conditions. 8 Note: Net profit and pay-out ratio 2014-2021 excluding items affecting comparability. Pay-out ratio 2018 excluding extra ordinary DPS, including the latter pay-out 76%. The ordinary and further ordinary dividend paid in 2021 of SEK 4:10 and SEK 4:10 respectively apply to years 2019-2020 when dividend restrictions were in place leading to a pro forma pay-out ratio for these years of around 50 per cent. DPS and the pay-out ratio for 2021 exclude share buybacks. SEB#99 More diversified than peers. Well balanced credit portfolio Credit exposure (EAD) by sector, 31 Dec 2021 Diversified income stream Operating income by type, 31 Dec 2021 SHB Net fee & commission income SEB DNB Danske Nordea Swedbank SHB SEB Danske Nordea Swedbank Net interest income Corporates Institutions Real estate management Net financial income Household mortgages Other retail loans Other Source: Annual reports 2021 Net other income DNB SEB#1010 Relative financial strength Cost/income ratio 2011-2021, rolling LTM 80% 70% 60% 50% 40% Return on equity 2011-2021, excluding IAC, rolling LTM 20% 15% 10% 5% 0% Source: S&P Global Cost of risk 2011-2021, rolling LTM 1.5% 1.0% 0.5% 0.0% -0.5% SEB 42% CET1 capital ratio 2014-2021 25% SEB 13.9% 20% 15% 10% SEB Nordic peer average European peer average SEB 0.02% SEB 19.7% SEB#11Our ambition is to be a leading catalyst in the transition towards a sustainable society The Brown Carbon Exposure Index Measuring the fossil fuel credit exposure in our energy portfolio Goal: To reduce exposure by 45-60% by 2030, compared to a 2019 baseline Climate ambitions and goals to ensure our progress The Green Sustainability Activity Index Measuring our activities supporting the sustainable development Ambition: To increase average activity 6x-8x by 2030, compared to a 2021 baseline The Future Transition Ratio Measuring our corporate and real estate credit portfolio's anatomy from a climate perspective Ambition: To provide a reflection of how our customers, over time, transition in line with the Paris Agreement 1 100 Q3 2021 -45% to -60% reduction lea Net Zero World - without CCUS NGFS Divergent Net Zero - Europe - Remind SEB Energy fossil fuel credit exposure corridor 2019 2025 2030 2035 2040 2045 2050 11 1 Work ongoing to classify credit portfolio. Transition ratio to be communicated in 2022. 100 800 600 2021 2025 2030 6x to 8x by 2030 + + Sustainable Paris aligned transition Transition Gradual change Status quo SEB#1212 Vision 2030: Investments will be needed to future-proof our business Future-proofing customer relationships and profit generation Future-proofing our platform Acceleration of efforts. Strategic change Strategic partnerships Efficiency improvement 1 Expand Corporate and Investment Banking Leverage Custody and Markets platforms to become Nordic market leader • Grow Savings and Investments in the Nordics and the Baltics Capture the sustainability supercycle 2 Transform Retail Banking to go more digital, with a mobile first approach, in Sweden and the Baltics Establish Private Wealth Management & Family Office division in all home markets • Scale and implement SEBx capabilities 3 Rethink ways of producing and distributing products and services • Strengthen innovation and business momentum through external partnerships • Open banking SEBX • Fintech partnerships P27 Cloud partnership SAMLIT • Greentech VC KYC Utility • Change approach from automation to end-to-end processes Develop into a fully data-driven organisation Accelerate technology development Enhance regulatory efficiency SEB#13Our financial targets + ~50% Dividend payout ratio of EPS 1 100-300bps CET1 ratio above requirement Return on Equity competitive with peers (Long-term aspiration 15%) Share repurchases will be the main form of capital distribution when SEB's capital buffer exceeds, and is projected to remain above, the targeted range of 100-300 basis points. 13 1 Excluding items affecting comparability. SEB#1414 03 04 05 01 7 20 02 SEB in brief Financial update - Q1 Credit portfolio and asset quality Capital Liquidity and funding 06 Approach to sustainability 07 Macro 08 Appendix#1515 Highlights in Q1 2022 • • Robust operating result in a quarter marked by the war in Ukraine and a less favourable macroeconomic outlook Return on equity amounted to 13.4 per cent, on a capital management buffer above the regulatory requirement of 490 basis points Stable underlying asset quality, with net expected credit losses of 8 basis points SEB#1616 SEB in Russia and Ukraine Per Q1 2022 Russia Ukraine Number of full-time employees 79 51 Number of offices 2 1 Number of customers 170 76 Profit as share of SEB Group 1% 0% Credit exposure as share of total credit portfolio 0.1% 0.01% SEB#17Development in financial markets Equity markets Interest rates Since end 2019 -OMX Stockholm 32% -S&P500 MSCI World Annual yield of 10-year government bonds (%) 38% 24% -Sweden -Germany United States 170 Since peak -18% -10% -12% 3.50 2.50 140 1.50 110 0.50 80 -0.50 50 -1.50 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Apr-22 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Apr-22 Commodity and energy prices Inflation rates 2000 -TTF: Natural gas price in the Netherlands, indexed (LHS) -S&P Goldman Sachs Commodity Index, GSCI (RHS) Consumer price index, YoY (%) Sweden 200 10.0 Euro area United States 8.0 1500 150 6.0 1000 100 4.0 2.0 500 50 0.0 0 Dec-19 0 -2.0 Jun-20 Dec-20 Jun-21 Dec-21 Apr-22 Dec-19 Jun-20 Dec-20 17 Note: equity market data, commodity price and energy price series are indexed assuming 2019-12-31 = 100. Data as per 25 April. Source: Macrobond. Jun-21 Dec-21 Apr-22 SEB#18A northern European corporate and investment bank with international reach Norway Finland Sweden Estonia Denmark Netherlands St. Petersburg 26 New York United Latvia Lithuania Warsaw Dublin Kingdom Germany New Delhi Luxembourg Kyiv Switzerland Austria Nice Kuala Lumpur Beijing Shanghai Hong Kong Singapore Number of locations where SEB is present São Paulo • Our operating model To serve our customers locally ⚫ Home markets including Nordics, Baltics, Germany and UK Geographical expansion to the Netherlands, Austria and Switzerland Successful geographical expansion LC&FI client income, SEK bn Total New clients 2 22.3 23.2 20.4 19.0 17.6 15.1 13.2 14.0 • International Network spanning from New York to Shanghai 1 • International business mainly focused on large corporate and financial institution customers • Nordic and German expansion from 2010 12% 15% 15% 19% 18% 0% 2% 7% 2009 2010 2012 2014 2016 2018 2020 2021 Note: client income based on internal definition. 1 Including Poland, Russia, Ukraine, China, Hong Kong, Singapore, India, the United States and Brazil. 2 New clients since 2010. Including Sweden, Norway, Denmark, Finland, Germany and United Kingdom. 18 SEB#19Increased growth outside of Sweden over time. LC&FI new client income (from Nordic and German expansion) SEK 4.2bn, 2021 29% 28% 19% 10% 10% 5% Norway Germany Denmark Finland Sweden UK Key ratios 20211 LC&FI total client income SEK 14.0bn, 2010 4% 1% Sweden 11% Norway 5% 7% Finland Denmark ■Germany 6% UK 66% SEK 23.2bn, 2021 4% 2% 12% Norway Germany Denmark Finland UK Intl. Network LC&FI division 8% ROBE 16% 12% 16% 17% 18% 15% 14% C/I 0.34 0.31 0.38 0.31 0.29 0.57 0.41 10% FTES 218 157 144 156 74 256 2,155 12% 52% 19 Note: client income based on internal definition. Based on local customer relations. 1 Numbers representing LC&FI division, based on Management reporting. International Network SEB#20Strong development in total client income across geographies Large Corporates & Financial Institutions 2021 vs. 2010, SEK bn 20 20 Sweden Denmark +3% CAGR 12.3 8.8 2010 0.7 2010 +10% CAGR Norway +12% CAGR 0.8 2021 2010 Germany 2.0 1.5 2021 Finland +9% CAGR 2.9 0.9 2021 +7% CAGR 2.9 2010 United Kingdom 0.5 +7% CAGR 2.3 2021 1.0 2010 2021 2010 2021 SEB Note: client income based on internal definition. Based on local customer relations.#2121 Strategic partnership to strengthen the PWM&FO division's growth strategy Partnering with Ringkjøbing Landbobank to: Example: . Strengthen our footprint in Danish private banking market • Increase growth in Professional Family Office segment Private Banking & Private Wealth Management client SEB offering its customers a complete range of private banking services in the Danish market Ringkjøbing Landbobank offering its customers access to SEB's international range of services and full product range Ringkjøbing Landbobank Client responsibility • Daily banking SEB Specialised investment management International products and services SEB • Professional Family Office client Client responsibility Financing, investments and financial infrastructure Ringkjøbing Landbobank • Private banking services to family members SME banking services SEB#22Exploring new technology Banking-as-a-Service is the provision of retail or wholesale banking Banking-as-a-Service (BaaS) | products and services as a service, using an existing licensed institution's secure and regulated infrastructure with modern API-driven platforms.1 Consumers of the financial product Distributors embedding banking services directly into their existing customer journeys Enablers embedding financial services into third-party platforms ÅÅ First external BaaS customer Axel Johnson Humla 1.5 million customer interactions every day ■ ☑ 22 Providers holding a banking license and offering regulated and compliant financial products SEB 1 Finastra Banking-as-a-Service: Outlook 2022 | Paving the way for Embedded Finance. "API" abbreviation for Application Programming Interface. SEB#2323 Ambition to be a leading catalyst in the sustainability transition Widening the scope of our green bond framework Green Bond Framework SEB Including areas such as biodiversity and the transition to a circular economy EUR 1bn Green bond issued by SEB Strong growth in sustainability-linked bond market over time... Sustainability-linked bonds as share of total sustainable debt, global issuance volume I where we continue to support our customers We appreciate the positive feedback we have received Nordics 1 Nordic peers Volume Q1 (EUR m) 1 1 KANTAR O SEB 496 Sweden 1 8% Nordic peer 1 250 1—1 1 KANTAR PROGRA Nordic peer 2 200 Finland 1 1 1 1 Nordic peer 3 95 KANTAR PROPERA Nordic peer 4 Denmark 47 EUR 26bn 1 1 -1- 1 KANTAR PROSPERA Norway 1% Vestas W • Wallenius Wilhelmsen 2 2 2 Q1 2020 Q1 2022 2019 2020 2021 Transactions where SEB acted as sole sustainability structuring advisor 1 Prospera Source: Bloomberg. 1 Wallenius Wilhelmsen transaction finalised on 6 April. Sustainability Advisor SEB#2424 Financial summary Q1 2022 SEK m Q1 2022 Q4 2021 Q1 2021 Net ECL level Total operating income 14,768 14,127 +5% 13,616 +8% 8 bps Net interest income 7,062 6,717 +5% 6,300 +12% C/I Net fee and commission income 5,398 5,885 -8% 4,776 +13% 0.39 Net financial income 2,334 1,517 +54% 2,543 -8% CET1 Total operating expenses -5,793 -6,097 -5% -5,718 +1% 18.7% Profit before ECL and imposed levies 8,974 8,030 +12% 7,898 +14% Net expected credit losses -535 -299 -156 RoE 13.4% Imposed levies -582 -255 -267 Operating profit 7,857 7,476 +5% 7,475 +5% SEB#2525 Net interest income development Net interest income (SEK bn) Jan-Mar 2022 vs. Jan-Mar 2021 Net interest income type (SEK bn) Q1 2020 Q1 2022 Lending 6.3 +12% 7.1 5.9 Q1-20 6.5 5.9 Q1-21 LC&FI C&PC Baltic 2.7 3.0 2.9 2.7 Other Q1-22 0.6 0.7 0.8 -0.1 Jan-Mar 2021 Jan-Mar 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 SEB#2626 Net fee & commission income development Net fee & commissions (SEK bn) Jan-Mar 2022 vs. Jan-Mar 2021 Net fee & commissions by income type (SEK bn) Q1 2020 Q1 2022 +13% Net securities commissions (custody, mutual funds, brokerage) 2.1 2.5 2.7 Q1-20 Q1-21 5.4 Net advisory fees, lending fees & other commissions 4.8 1.3 1.2 Q1-22 1.4 Q1-20 Q1-21 Q1-22 Net payment & card fees 0.9 0.8 1.0 Q1-20 Q1-21 Q1-22 Net life insurance commissions Jan-Mar 2021 Jan-Mar 2022 0.3 0.3 0.3 Q1-20 Q1-21 Q1-22 SEB#2727 Net financial income development Net financial income (SEK bn) Jan-Mar 2022 vs. Jan-Mar 2021 -8% Net financial income development (SEK bn) Q1 2020 Q1 2022 -0.2 -0.3 -0.5 2.5 2.3 Q1-20 whereof CVA/DVA NFI Divisions NFI Other 2.5 2.3 0.6 0.7 2.0 1.7 Q1-21 Q1-22 0.2 0.2 Jan-Mar 2021 -1.3 Jan-Mar 2022 Q1-20 Q1-21 Q1-22 SEB#28Operating leverage Average quarterly income (SEK bn) 9.8 9.4 Average quarterly expenses (SEK bn) 13.04.8 12.512.7 Average quarterly profit before credit losses (SEK bn) 10. 10.11.2 11.4115 10.8 9.0 8.1 5.9 5.7 5.6 5.4 5.5 5.5 5.5 5.5 5.7 5.7 5.8 5.8 6.87.0 5.5 5.7 5.9 6.0 5.4 4.8 4.1 3.5 2011 2013 2015 2017 2019 2021 2011 2013 2015 2017 2019 2021 2011 2013 2015 2017 2019 2021 28 Note: data exclude items affecting comparability. SEB#2929 Strong asset quality and balance sheet 2021 March 2022 Asset quality Net expected credit loss level 2 bps Funding & liquidity Asset quality Net expected credit loss level Funding & liquidity 8 bps Customer deposits (SEK) 1,597bn Customer deposits (SEK) 1,854bn Liquidity coverage ratio 145% Liquidity coverage ratio 122% Net Stable Funding Ratio (NSFR) 111% Net Stable Funding Ratio (NSFR) 108% Capital Capital CET1 ratio (Basel 3) 19.7% CET1 ratio (Basel 3) 18.7% CET1 buffer above requirement 590 bps CET1 buffer above requirement 490 bps Total capital ratio (Basel 3) Leverage ratio (Basel 3) 23.1% 5.0% Total capital ratio (Basel 3) 21.4% Leverage ratio (Basel 3) 4.3% SEB#3050 30 01 720 02 SEB in brief Financial update - Q1 03 Credit portfolio and asset quality 04 05 06 07 Capital Liquidity and funding Approach to sustainability Macro 08 Appendix#3131 Development of credit portfolio Credit portfolio by main sectors SEK bn 1,800 1,200 600 0 Corporates -Housing co-ops - Commercial real estate Q4-09 Q4-10 Q4-11 Q4-12 Q4-13 Q4-14 Q4-15 Q2-16 Q4-16 Q2-17 Households Sector Residential real estate Q4-17 Q2-18 Q4-18 Q2-19 Q4-19 Q2-20 Q4-20 Q2-21 Q4-21 Q1-22 Credit portfolio growth rates Quarter-on-quarter and year-on-year QoQ YOY Corporates 3% 14% FX-adjusted 1 0% 10% Households 2% 5% Swedish mortgages 2% 5% Commercial real estate 2% 0% Residential real estate -2% 3% Housing co-ops 0% 8% Total (excluding banks) 2% 10% Note: data include on- & off-balance sheet exposures. 1 Corporate FX-adjusted excluding trading products. SEB#3232 Industry diversification and low on-balance sheet exposure in the corporate portfolio Corporate credit portfolio SEK bn (excludes real estate) Large Corporates & Financial Institutions division Corporate & Private Customers division (Swedish SMEs) Baltic division Private Wealth Management & Family Office division Corporate credit portfolio by sector and credit type % of credit portfolio excluding banks, 31 March 2022 0% 5% 10% 15% 1,473 1,513 Business and household services 1,308 1,268 1,172 1,029 1,029 952 936 784 708 730 666 Total corporate credit portfolio 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Mar 2022 ■Loan portfolio Undrawn committments, guarantees and net derivatives Manufacturing Finance & Insurance Electricity, gas and water supply Wholesale & Retail Shipping Transportation Other Oil, gas and mining Construction Agriculture, forestry and fishing Loans: 27% of credit portfolio Undrawn commitments, guarantees and net derivatives: 28% of credit portfolio SEB#3333 Real estate exposure is c. 12% of non-bank credit portfolio and is focused on Nordic commercial real estate and Swedish residential real estate Real estate management credit portfolio by division SEK bn Large Corporates & Financial Institutions division Corporate & Private Customers division Baltic division Private Wealth Management & Family Office division Germany Real estate management portfolios by geography 31 March 2022 Residential real estate exposure: SEK 149bn Average LTV Q1 2022: 46.8% 26% Residential real estate 12% 7% 339 340 340 320 5% 294 295 286 259 261 257 243 247 220 11% 12% 15% 9% 11% 21% 31% 21% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Mar 2022 15% Commercial real estate Commercial real estate exposure: SEK 191bn Average LTV Q1 2022: 46.3% Sweden Other Nordic Germany Sweden Other Nordic Baltics Germany & other SEB#3434 20% 15% 10% 5% 0% Robust household mortgage portfolio SEB's household mortgage lending growth vs total market SEK bn Low LTVs by global and regional standards 31 March 2022 201103 201203 201303 201403 201503 201603 SEB lending (RHS) -Market growth YoY 201703 201803 201903 202003 202103 SEB growth YoY 202203 0 600 Loan-to-value >85% 400 71-85% 51-70% 200 0-50% Share of portfolio 0% • 1% 9% 90% • • • • Selective origination - mortgage lending based on affordability Strong customer base: According to UC AB (national credit information agency), SEB's customers have higher credit quality than market average and are over- proportionally represented in higher income segments. Customers are also concentrated to larger cities High asset quality - negligible past dues and losses Strict credit scoring and assessment Strengthened advisory services - "sell first and buy later" Affordability assessment (funds left to live on post all fixed costs and taxes) includes stressed interest rate scenario of 6% on personal debt and 3% on a housing co-op's debt which indirectly affects the private individual ("double leverage") Amortisation requirement: LTV 70-85% loans amortise min. 2%/year and between 50-70% at least 1%/year. As of 2018, loans with DTI>4.5x amortise an additional percentage point-regulatory requirement. Amortisation exemption due to Covid-19 lifted per August 2021 Max loan amount: 85% LTV cap since 2011. In general 5x total gross household income irrespective of LTV and no more than one payment remark on any kind of debt Weighted average LTV = 49.3% SEB#3535 55 High credit quality over time-credit-impaired loans declining from Covid-peak Total ECL allowances by stage SEK bn Credit loss level % 8.2 7.0 8.3 7.5 6.1 7.2 7.0 6.6 5.8 5.0 3.6 3.5 3.5 3.4 3.7 4.5 4.0 5.3 1.4 1.6 1.8 1.6 1.6 1.4 1.4 1.5 1.7 1.2 0.8 0.8 ୮ T T T 0.9 0.8 0.9 0.9 0.9 1.3 0.8 1.7 1.8 1.3 1.4 1.4 1.2 1.2 1.7 1.7 1.2 1.2 1.7 1.4 1.4 1.8 T T T T Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 Stage 1 ■Stage 2 Stage 3 Credit-impaired loans 0.96% Stage 3 loans, gross, SEK bn 0.86% 0.87% 0.77% 0.64%0.65%.670.71 0.71% 0.68% 0.62% 0.58% 0.56% 0.51%.50%.50% 0.53% 0.42% 9.1 8.4 8.3 8.2 9.5 10.9 11.2 11.4 12.9 14.9 16.8 14.9 13.6 12.1 11.2 9.8 8.3 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 Stage 3 loans, gross -Stage 3 loans as % of total loans, gross 2007 0.92 Baltic crisis 0.30 0.15 0.11 0.08 0.09 0.09 0.06 0.07 0.05 0.06 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 IAS39 0.10 IFRS9 0.26 0.02 Q1 2022 Average annual CLL 2007-21 0.15% 0.08 Excl. Baltics 0.09% SEB#3636 ECL allowances for future expected credit losses SEK bn Model overlay on portfolio level Underlying Stage 3 exposure 15.6 Model overlay on portfolio level A Q4-21 Q1-21 Covid-19 Oil, gas and offshore Geopolitical (new) ECL allowances split by division, Q1 2022 SEK bn 5.0 Underlying Model overlay on portfolio level 11.8 10.2 0.8 10.0 8.5 1.8 8.8 8.2 7.4 1.9 0.5 2.0 2.0 4.3 0.8 1.1 8.4 6.9 6.9 0.4 6.2 1.2 0.1 0.6 LC&FI C&PC Baltic PWM&FO Q4-19 Q4-20 Q4-21 Q1-22 SEB#3737 Updated macro scenarios and scenario probability weightings led to an increase of ECL allowances in Q1 Three scenarios for ECL modelling GDP growth assumptions Q1 2022 (Q4 2021) Positive 15% (15%) probability Negative - 25% (20%) probability • • Base 60% (65%) probability 4.0% 3.2% 3.0% 3.5% 2.3%2.2% 2.7% 2.0% 2.4% 3.0% 2.0% 2.0% 0.4% 2.5% 1.8% 1.8% 1.5% -0.5% 2022 2023 2024 2022 2023 OECD 2024 Sweden 2022 2023 2024 The positive scenario assumes a faster resolution of the Ukraine conflict and that the positive forces of the post-pandemic normalisation is underestimated. This may apply to the demand side in the form of pent-up consumptions and capital spending needs, and to the supply side where the flow of people back into the labour market may be stronger than expected The base scenario assumes that the war in Ukraine, energy prices and higher interest rates have a significant economic impact lowering GDP growth forecasts. Fiscal initiatives especially in defence and energy are expected to soften negative effects. The war is speeding up inflation and labour markets are expected not to weaken enough to persuade monetary central banks to hold off on monetary tightening. More and earlier key rate hikes are expected which will help bring about a clear decline in inflation during 2023 The negative scenario reflects the downside risk f the war and the aftermath of the pandemic. The war in Ukraine may escalate in a way that has more far-reaching economic consequences. It is also possible that the impact of current sanctions and trade tensions are underestimated. A stronger inflation surge would erode household purchasing power and weaken the profitability in many businesses. Probability-weighted ECL allowances: SEK 8.2bn 100% probability of positive scenario: -3% ECL allowances 100% probability of negative scenario: +4% ECL allowances Source: SEB Nordic Outlook March 2021. SEB#3858 38 01 720 02 SEB in brief Financial update - Q1 03 Credit portfolio and asset quality Liquidity and funding Approach to sustainability 04 Capital 05 06 07 Macro 08 Appendix#39Capital development in Q1 CET1 buffer development Quarter-on-quarter (bps) 590 39 30 50 40 40 40 20 20 30 30 Target buffer 100-300bps 20 20 490 CET1 ratio development Quarter-on-quarter (%-points) 19.7 0.3 ..... 0.4 0.4 0.2 0.2 0.3 18.7 Dec 2021 Share buyback Profit, net of dividend Credit volume FX Market risk Other Mar 2022 Dec 2021 Share buyback Profit, net of dividend Credit volume FX Market risk Other Mar 2022 SEB#40Strong capital position vs. requirements SEB'S CET1 and total capital position vs requirements %, 31 Mar 2022 MDA level ● 21.4 18.7 Tier 2 1.7 490bps AT1 1.0 17.9 1.5 • 13.8 2.5 15 0.1 4.0 2.5 0.1 CET1 18.7 1.8 • 4.0 1.2 8.0 4.5 CET1 capital CET1 capital requirement Minimum requirement Systemic risk P2 guidance Total capital Total capital P2 requirement Capital conservation buffer Countercyclical buffer requirement 40 The minimum requirement for total capital can be met by max 1.5% AT1 and 2.0% Tier 2 capital. The P2 requirement of 1.8% consists of 1.2% in CET1, 0.2% in AT1 (~11% of the P2 requirement) and 0.4% in Tier 2 capital (~23% of the P2 requirement) CET1 capital buffer of 490bps compared to target management buffer of 100-300bps Leverage ratio at 4.3% (5.0). The requirement and Pillar 2 guidance is 3.45% Countercyclical buffer for Sweden to be raised to 1% in September 2022 SEB#41Reasons for management capital buffer 41 Sensitivity to currency fluctuations Impact of +5% SEK vs other currencies is 50bps on CET1 ratio Sensitivity of Swedish pension surplus to interest rates SEK bn, Impact of -50 bps discount rate is -40bps on CET1 ratio* 10% 44% 34% Share of credit risk REA EUR SEK USD NOK DKK GBP Other 60 60 50 50 40 50 30 20 20 10 0 2019 2020 2021 Pension liabilities ■Surplus *At current level of net pension assets, impact would be absorbed by surplus. ...& general macroeconomic uncertainties SEB#4242 SEB DNB SHB Volkswagen LF Bank 16.9 16.7 EBA stress test 2021 confirms SEB's robust capital position Year-end CET1 ratio under the Adverse scenario (%) 16.2 15.5 15.4 15.2 15.2 15.0 14.9 14.0 13.8 13.7 10.0 Belfius ABN Nordea 13.5 13.4 Crédit Mut. 13.4 OP 12.7 SBAB 12.0 Jyske 11.6 Danske 11.3 LBP 11.3 OTP 11.2 Bankinter 11.1 ING 11.0 Crédit Ag. 10.6 BPCE 10.2 DZ 10.2 Erste 10.2 CGD Pekao PKO Bank Swedbank KBC Nykredit NWB and BNG excluded, as not directly comparable banking model. BayernLB 10.0 Medioban. 9.7 Intesa 9.4 UniCredit 9.2 RBI 9.0 AIB 8.8 BBVA 8.7 Santander 8.7 Helaba 8.6 LBBW 8.4 BNPP 8.2 Commerz. 8.2 BCP 8.1 BOI 8.1 SocGen 7.5 DB 7.4 BPM 7.0 Sabadell 6.5 HSBC CE 5.9 MPS Rabobank Adverse scenario assumptions -cumulative GDP change (%) -2.8 -3.3 -3.6 -4.1 -4.4 Finland generation (%) Baseline scenario CET1 Norway EU Denmark Sweden generation (%) Adverse scenario CET1 2.1 1.9 0.7 0.8 1.7 0.1 1.3 0.3 1.1 1.3 -0.1 -0.8 -0.1 0.8 0.8 0.9 -1.6 2021 2022 2023 2021 -1.6 2022 2023 -SEB -Regional peers EU/EEA Average Regional peers include Danske Bank, DNB, Handelsbanken, Nordea, Nykredit, OP and Swedbank SEB#4343 01 SEB in brief 02 Financial update - Q1 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Approach to sustainability 07 Macro 08 Appendix#44Strong balance sheet structure with stable deposit base Strong balance sheet structure with deposits as primary source of funding 31 Mar 2022 Long-term stable development of deposit – continued high deposit inflow SEK bn 2007 2009 2011 2013 2015 Corporate deposits 2017 2019 Household deposits 2021 Public sector deposits Non-bank deposits in Treasury SEK 3,766bn 1,500 1,000 Life insurance Derivatives Life insurance 500 Derivatives Client trading Client trading Short- term Liquid assets Funding <1y funding Cash & deposits CBs Liquidity portfolio Funding >1y Household deposits Household lending Long-term assets or "banking book" Corporate & public sector deposits Stable funding Corporate & public sector lending 4 44 Assets Equity Liabilities Stable structural funding position Net Stable Funding Ratio (NSFR) 111% 110% 111% 111% 108% 31 Mar 2021 30 Jun 2021 30 Sep 2021 31 Dec 2021 31 Mar 2022 SEB#4555 45 Diversified funding structure with deposits as primary funding source Funding sources 31 Mar 2022 12% 3% 4% 5% 11% 1% 16% Loan to deposit ratio Excl repos 140% 90% Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 48% Corporate deposits Household deposits Credit inst deposits Govmt & central bank deposits Senior debt Covered bonds CP/CDs Subordinated debt Wholesale Lowest dependence on wholesale funding compared to peers Benchmarking Swedish banks' total funding sources incl equity 31 Dec 2021 funding SEB Peer 1 Peer 2 Equity ■Deposits from the public Bail-in bonds Subordinated debt Covered bonds ■CP/CDs Peer 3 Deposits from credit institutions ■Senior preferred debt SEB#4646 Well-balanced long-term funding profile and solid credit rating Wholesale funding by product SEK 492bn equivalent 8% 6% 21% Maturity profile 14% SEK bn 124 SEB's credit rating Covered bonds SEK Rating Institute Short term "Stand- alone rating" Long term Uplift Outlook Covered bonds non-SEK Fitch F1+ aa- AA- 0 Stable Senior unsecured debt 51% Moody's P-1 a3 Aa3 3 Stable I Senior non-preferred debt S&P A-1 a A+ 1 Stable Subordinated debt Issuance history SEK bn 145 140 89 38 85 117 11 9 95 101 11 70 21 632 74 40 21 28 27 8 80 75 34 10 12 42 40 20 10 45 13 20 20 59 14 81 78 11 53 54 37 41 4 55 62 67 55 41 35 23 10 <1Y 1-2Y 2-3Y 3-4Y 4-5Y 5-7Y 7-10Y >10Y 2015 2016 2017 2018 2019 2020 2021 Q1 2022 1 Excluding public covered bonds. 2 Tier 2 and Additional Tier 1 issues assumed to be called at first call date. SEB#47Swedish implementation of MREL requirements according to BRRD2 MREL requirement vs current position 31 March 2022, % of REA SEK 217bn CBR 6.6% SEK 284bn 6.6% SEK 274bn 7.1% Senior debt 4.6% Senior non- preferred debt Subordination requirement vs current position 31 March 2022, % of REA SEK 215bn 4.6% Senior non- preferred debt THE ME SEK 225bn SEK 187bn 6.6% CBR 6.6% Capital base 19.7% 22.6% 27.7% 27.2% 21.4% Leverage-based Risk-based Leverage-based Actual Own funds & eligible liabilities Target 1 Jan 2022 Requirement 1 Jan 2024 Target 1 Jan 2022 Risk-based 21.4% Capital base 13.5% 22.6% 19.7% 27.2% Risk-based Leverage-based Risk-based Leverage-based Actual Own funds & eligible liabilities Requirement 1 Jan 2024 • • On 18 October 2021, the Swedish Resolution Authority published its new MREL policy under BRRD2 • MREL requirement will be the higher of: - Risk-based: 2 x (P1+P2R) + CBR - Ccyb + P2G Leverage-based: 2 x Minimum Leverage ratio (3%) • Subordination requirement will be the higher of: Risk-based: 2 x (P1+P2) Leverage-based: 2 x Minimum Leverage ratio (3%) • Combined Buffer Requirement (CBR) is added on top of risk-based MREL and risk-based subordination requirements Requirements will be phased in, with full compliance no later than 1 January 2024. To date, SEB has issued c SEK 40bn in senior non-preferred debt SEB#4848 SEB's covered bonds Outstanding covered bonds. SEK bn Moody's rating Total outstanding Benchmark Aaa SEK 327bn 400 300 Benchmark 96% 200 Non Benchmark 4% 100 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Maturity profile SEK bn Outstanding covered bonds % SEK vs non-SEK 100% 22 21 75% 10 13 60 49 55 37 43 23 50% 25% 0% >1 y 1-2 Y 2-3 Y 3-4Y 4-5 Y 5-7 Y 7-10 Y >10 Y 2012Q4 2014Q4 2016Q4 SEK Benchmark NonSEK Benchmark Non Benchmark Covered Bond SEK 2018Q4 Covered Bond Non-SEK 2020Q4 79% 21% SEB#4949 Cover pool characteristics: only Swedish residential mortgages in SEB's cover pool • Cover pool 31 Mar 2022 31 Dec 2021 31 Dec 2020 • Total residential mortgage assets (SEK bn) 697 689 653 Weighted average LTV (property level) 48% 47% 52% • Number of loans ('000) 766 766 759 Number of borrowers ('000) 436 437 432 Weighted average loan balance (SEK '000) 909 899 872 Substitute assets (SEK '000) 0 0 0 Loans past due 60 days (bps) 4 4 4 Net Expected Credit Losses (bps) 0 0 0 Overcollateralisation level 113% 133% 81% Only Swedish residential mortgages, which historically have had very low credit losses More concentrated towards single family homes and tenant- owned apartments, which generally have somewhat higher LTVs On parent bank SEB AB's balance sheet contrary to major Swedish peers . All eligible Swedish residential mortgages are directly booked in the cover pool on origination, i.e. no cherry picking Covered bonds are issued by SEB AB and investors have full and dual recourse to the parent bank's assets as well as secured exposure to the cover pool SEB runs a high overcollateralisation level SEB#5050 Cover pool characteristics: mortgages mainly in three largest and fastest growing city areas in Sweden Type of loans Residential apt bldgs, 19% Interest rate type Geographical distribution Fixed rate reset =>5y, 1% Fixed rate reset 2y<5y, 16% Single family, 53% Tenant owned apartments, 28% Fixed rate reset <2y, 35% LTV distribution Floating (3m), 47% Larger regional cities, 36% Stockholm region, 41% Malmö region, 8% Gothenburg region, 15% Prior ranking loans >25%<75% of property 0.3% value Interest payment frequency Quarterly 20% >75% 0% 70-75% 1% 60-70% 3% 50-60% 6% <25% of 40-50% 9% property 4.6% 30-40% 14% value 20-30% 19% 10-20% 23% No prior ranks 0-10% 26% Note: Distribution in different LTV buckets based on exact order of priority for the individual mortgage deeds according to the Association of Swedish Covered Bond Issuers (www.asbc.se) Monthly 95.1% 80% SEB#5151 Short-term CP/CD funding to support client facilitation business Volumes: net trading assets adaptable to CP/CD funding access SEK bn 400 300 200 100 0 Mar-14 Mar-15 Mar-16 Mar-17 Net trading assets CP/CD Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Duration: CP/CDs fund net trading assets with considerably shorter duration SEK bn CPS/CDs (LHS) Net trading assets (LHS) Avg. Duration CP/CD (RHS) 350 200 Days 50 40 -100 80 -250 120 160 -400 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Note: Net Trading Assets = Net of repoable bonds, equities and repos for client facilitation purposes SEB#5252 Strong liquidity position Liquidity Coverage Ratio 218% Peer benchmarking: 3- and 12-months maturing funding ratio 3 months funding ratio 600% 174% 160% 49% 176% 163% 500% 138%139% 145% 133% 33%131% 400% 122% 300% 200% 100% 0% Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 Q4 2021 Q3 2021 SEB Q2 2021 Peer 1 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Peer 2 Average Liquid assets 12 months funding ratio 31 Mar 2022, 945 SEK bn 200% Level 2 assets Other 217 High quality covered bonds 150% 100% Level 1 assets 624 Extremely high quality covered bonds 50% Treasuries & other Public Bonds 0% Cash & holdings in Central Banks Q4 2021 Q3 2021 ■SEB Q2 2021 Q1 2021 ■Peer 1 Peer 2 Q4 2020 Q3 2020 Q2 2020 ■Peer 3 Average Liquid assets in accordance with Liquidity Coverage Ratio in CRR. Liquid assets defined as on balance sheet cash and balances with central banks + securities (bonds and equities) net of short positions Funding ratio = liquid assets / (maturing wholesale funding within 3/12m+ net interbank borrowing within 3/12m) Source: Fact Books of SEB and three other major Swedish banks. One peer does not disclose 3m ratio SEB#5355 53 01 SEB in brief 02 Financial update - Q1 03 Credit portfolio and asset quality 04 Capital 05 06 07 Liquidity and funding Approach to sustainability Macro 08 Appendix#5444 54 Ambition to be a leading catalyst in the transition towards a sustainable society Financing the transition Acting as a thought leader We support our customers, share our knowledge and offer advisory services as well as sustainable financing and investment products. SEB We develop innovative products and services, and set standards for how banks can contribute to a more sustainable society. Being a corporate citizen We fulfil our critical role in society, and always strive to take an active part in building for the future. Transforming our business We sustainably develop our own business, communicate our policies and goals, and transparently and continuously report on our position and progress. SEB#5555 Climate ambitions and goals to ensure our progress The Brown Carbon Exposure Index The Green Sustainability Activity Index The Future Transition Ratio What: Volume-based metric capturing our fossil fuel credit exposure How: Measuring the fossil fuel credit exposure in our energy portfolio Goal: To reduce exposure by 45-60% by 2030, compared to a 2019 baseline What: Volume-based metric capturing our sustainability activity How: Measuring our activities supporting the sustainable development Ambition: To increase average activity 6x-8x by 2030, compared to a 2021 baseline What: Volume-based ratio based on our internal Climate Classification Model 1 How: Measuring our corporate and real estate credit portfolio's anatomy from a climate perspective Ambition: To provide a reflection of how our customers, over time, transition in line with the Paris Agreement 1 Model assessing our customers' and our own climate impact and alignment with the goals set out in the Paris Agreement. 2 Work ongoing to classify credit portfolio. Transition ratio to be communicated in 2022. SEB#56The Brown: Carbon Exposure Index to reduce our fossil fuel credit exposure Goal to reduce our fossil fuel credit exposure in energy portfolio by 45-60% by 2030 SEB fossil fuel credit exposure lea Net Zero - World - without CCUS 1 >30% decrease 100 >70% decrease Change 2030 vs 2019 NGFS Divergent Net Zero - Europe - Remind Power SEB Energy fossil fuel credit exposure corridor Generation and transmission Q3 2021 56 56 -45% to -60% reduction 2019 2025 2030 2035 2040 2045 2050 Oil & Gas Exploration and production Oil & Gas Refining and distribution Credit 2019 SEK 2030 vs 2019 45-60% exposure Share of credit portfolio 120bn decrease 4.8% 1.5-degree scenarios applied developed by the International Energy Agency as well as the Network of Central Banks and Supervisors for Greening the Financial System. 1 CCUS abbreviation for "Carbon Capture Usage and Storage". SEB#57The Green: Sustainability Activity Index to accelerate our efforts Ambition to increase average activity 6x-8x by 2030 Sustainability-related lending Sustainable finance advisory Volume, indexed 100 2021 2025 1 Funds that have sustainable investments as its objective. 57 800 600 SEK 104bn 6x to 8x by 2030 Q3 2021 100 2021 2025 Volume, indexed 1 000 SEK 70bn Q3 2021 100 Greentech VC investments Volume, indexed SEK 67m Q3 2021 100 300 2030 2021 2025 2030 Article 9 investment products Share of AuM, indexed 1 600 800 1.6% Q3 2021 100 2030 2021 2025 2030 2021 2025 2030 SEB#58The Future: Transition Ratio to ensure our customers' transformation over time Assessment based on SEB's Climate Classification Model Ambition to provide a reflection of customers' transition over time 58 Transformed/ has no negative impact Ongoing transformation to improve Some measures to improve Little or no measures to improve Material carbon footprint Slight carbon footprint Very limited carbon footprint Non-material carbon footprint Customers with material carbon footprint 1 Customers with slight carbon footprint 1 45% of credit exposure classified 25% of credit exposure classified 1 Measured as share of credit exposure. + + + + + + Sustainable Paris aligned transition Transition Gradual change Status quo SEB#5959 01 SEB in brief 02 Financial update - Q1 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Approach to sustainability 07 Macro 08 Appendix#6060 Sweden: PMI and economic sentiment still at high levels Sweden: Economic sentiment and GDP Sweden: PMI 7.5 - 130 75 70 5.0- 2.5 120 0.0 100 -2.5 90 -5.0- 80 -7.5 70 - 110 W my 50 65 60 55 75 70 65 60 55 50 45 45 40 40 35 35 -10.0 60 30 30 2008 2010 2012 2014 2016 2018 2020 2022 2008 2010 2012 2014 2016 2018 2020 2022 - Economic sentiment indicator (NIER) (hö axel) ■GDP, % q/q (vä axel) NIER survey declining slightly from all-time high driven by very strong manufacturing sentiment, but service sector has also increased towards cyclical highs • Strong expectations main contributor while current conditions are at more moderate levels • - Manufacturing -Services PMI has declined slightly from a peak in April 2021 Composite SEB Nordic Outlook March 2022 SEB#6161 Sweden: unemployment is declining, furlough scheme is being closed Sweden: Unemployment % Sweden: Employment Index Dec 2019 = 100 Swe: Employment Dec 2019 = 100 Swe: Unemployment, % 101.5 101.5 9.5 101.0 9.0 100.5 8.5 8.0 7.5 7.0 6.5 97.5- 6.0 97.0 5.5 96.5 100.0 - 99.5 99.0 98.5 98.0 W им 101.0 100.5 100.0 99.5 99.0 98.5 98.0 97.5 97.0 96.5 2010 2012 2014 2016 2018 2020 2022 2024 jan maj sep 2019 jan maj sep 2020 jan maj sep 2021 jan 2022 -Actual - Riksbank SEB Nordic Outlook March 2022 SEB#62Sweden: firm housing market Sweden: Home prices Index Aug 2017 = 100 Sweden: Housing starts 1000's 140 130 17.5 120 15.0 110 12.5 100 10.0 90 7.5- 80 5.0 140 130 120 110 100 90 80 70 70 60 60 82% 2014 2015 2016 2017 2018 2019 2020 2021 - Total Valueguard Houses, Valueguard -Flats, Valueguard Home prices at new highs, houses most important driver Indicators suggest continued firm momentum in the near term 62 SEB Nordic Outlook March 2022 17.5 15.0 12.5 10.0 7.5 5.0 2.5 2.5 0.0+ 0.0 1995 2000 2005 2010 2015 2020 - Single family homes Multi-dwelling buildings - Total Housing starts close to peak levels from 2017 SEB#6363 35 Sweden: budget deficit is declining despite more fiscal measures Sweden: Central government budget balance SEK bn 200 175- 150 125 100 75 50- 25 0 2019 2020 2021 2022 Sweden: Central government debt % of GDP 200 150 1000 50 45 100 40 50 35 0 -50 30 -100 25 -150 20 --200 15 --250 2023 - Deviation from NDO's forecast (LHS) Forecast, National Debt Office (RHS) -Actual (RHS) SEB Nordic Outlook March 2022 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 - Total-Ex relending to the Riksbank SEB#6464 Sweden: Riksbank hikes rate in April, to reach 2% in 2025 Sweden: Inflation CPIF, year-on-year percentage change 7 Sweden: Interest rate outlook Repo rate, % 7 2.5 2.5 Market pricing 6. 6 The 2.0- 2.0 5. 4 Riksbank 5 Forecast 1.5 1.5 4 3 3 1.0 1.0 2 1 2 SEB 0.5 SEB 0.5 1 0.0- 0.0 0 - 0 The Riksbank -1 -1 -0.5 -0.5 2016 2018 2020 2022 2024 2020 2021 2022 2023 2024 SEB Nordic Outlook March 2022 SEB#6565 01 SEB in brief 02 Financial update - Q1 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Approach to sustainability 07 Macro 08 Appendix#66Summary key financials Q1 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 1) Return on equity, % 2) 13.4 13.9 10.3 13.8 13.4 12.9 11.3 12.9 13.1 13.1 11.5 12.3 Cost/income ratio, % 3) 39 42 45 46 48 48 50 49 50 54 61 62 Net ECL level/Credit loss level, % 4) 0.08 0.02 0.26 0.10 0.06 0.05 0.07 0.06 0.09 0.09 0.08 -0.08 Stage 3 loans/total loans, gross/NPL/lending, % 5) 0.42 0.53 0.87 0.67 0.50 0.5 0.5 0.6 0.8 0.7 1.0 1.4 Liquidity Coverage Ratio (LCR), %6) 122 145 163 218 147 145 168 128 115 129 ΝΑ ΝΑ Net Stable Funding Ratio (NSFR), % 108 111 CET1 ratio, % 7) Total capital ratio, % 7) Leverage ratio, % 7) 18.7 19.7 21.0 17.6 17.6 19.4 18.8 18.8 16.3 15.0 ΝΑ NA 21.4 23.3 25.1 23.3 22.2 24.2 24.8 23.8 22.2 18.1 ΝΑ ΝΑ 4.3 5.0 5.1 5.1 5.1 5.2 5.1 4.9 4.8 4.2 ΝΑ NA 21,669 21,847 12,022 10,428 7,734 8,046 6,859 7,196 6,763 5,958 5,191 4,490 2,432 2,682 2,106 2,041 1,699 1,830 1,749 1,668 1,708 1,475 1,328 1,261 Assets under custody, SEK bn Assets under management, SEK bn Notes: 1) Restated for introduction of IAS 19 (pension accounting). 2) Excl. Items affecting comparability incl. technical impairment (write-down) of goodwill a. 2014: Excluding capital gains of SEK 2,982m (sale of non-core business and shares) b. C. 2015: Excluding a cost of SEK 902m relating to the Swiss Supreme Court's not unanimous ruling against SEB in the long running tax litigation relating to SEB's refund claim of withholding tax dating back to the years 2006 through 2008 2016: Excluding the effects of the technical impairment of goodwill to the amount of SEK 5,334m and SEK 615m of one-off costs and derecognition of intangible IT assets no longer in use and the positive tax effect SEK 101m. Excluding a capital gain of SEK 520m from the sale of VISA Europe shares by the Baltic subsidiaries and the generated tax expence SEK 24m d. e. f. 2017: Excluding a dividend from VISA of SEK 494m, costs related to the transformation to a German branch of SEK 521m, transfer of pension obligation to BVV of SEK 891m, impairment and derecognition of IT intangibles of SEK 978m. 2018: Excluding the sale of SEB Pension SEK 3.6bn and settlement of UC AB's merger SEK 0.9bn 2020: Excluding administrative fine from Swedish FSA of SEK 1.0bn To show the underlying operating momentum in this presentation: 3) a. and b. c. and d. The FY 2014 and FY 2015 results' presentations, profitability, capital generation and efficiency ratios exclude the effects of the above-mentioned items affecting comparability The FY 2016 results, profitability and efficiency ratios exclude the effects of the above mentioned items affecting comparability. Restated resolution fee 2020 and 2021 4) Net aggregate of write-offs, write-backs and provisioning. Net ECL (expected credit loss) level (2018) is based on IFRS 9 expected loss model, net credit loss level (2011-2017) is based on IAS39 incurred loss model.. 5) ECL coverage ratio for Stage 3 (credit-impaired) loans is based on IFRS 9 expected loss model, NPL coverage ratio and NPL/lending ratio (2011-2017) are based on IAS39 incurred loss model. NPLs = Non Performing Loans, including individually and portfolio assessed impaired loans (loans >60 days past due). 6) LCR based on EU definition as from 2018 and on SFSA definition 2013-2017. SEB 7) 2016-2014 is according to CRD IV/CRR and 2013 was estimated based on SEB's interpretation of future regulation. 66#6767 Business model generates stable income based on diversified income sources Balanced mix of net interest income and other income Average quarterly income, SEK bn Growing net fee & commission income generated through strong market franchise and recurring income Average quarterly net fee & commission income, SEK bn. 2010 2012 2014 2016 2018 2020 Q1 2022 2010 2012 2014 2016 2018 2020 Q1 2022 Net interest income Net financial income LC & Fl Net other income Net fee & commission income I Net financial income, excl. LC&FI Note: Traditional life income booked as net financial income as of January 2014. | Payments, card, lending Activity based I Asset value based Life insurance SEB#68Large Corporates & Financial Institutions Large cross-selling potential Client income, SEK bn Diversified business and solid efficiency render healthy profitability despite higher regulatory requirements Business equity (SEKbn) Return on business equity -C/I Clients base ■New clients 23.4 22.0 22.3 80 54% 54% 52% 20.4 50% 49% 49% 19.3 19.0 19.3 47% 46% 46% 45% 17.6 42% 41% 41% 60 15.6 15.0 15.1 14.0 40 22.8% 20.6% 6.5 18% 19% 18% 20 10% 12% 12% 15% 15% 15% 14.3% 12.9% 13.3%12.5%11.7% 10.1%10.3%10.4% 14.3% 12.4% 7.9% 2% 5% 7% 16% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Q1 2022 No. of accumulated new clients* 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 84 209 305 413 472 535 594 652 713 765 813 854 862 2020-21: Restatement of organisational and income statement changes 2016 C/I: Excl. one-off costs of SEK 354m 2015 C/I: Excl. one-off costs of SEK 902m *Including Swedish clients as of 2019. 68 2010-13: Restated figures following the new organisational structure as of Jan 1, 2016. As a result 2010-2013 figures not comparable SEB#69Corporate & Private Customers Stable lending growth in corporate segment Loans to corporates and real estate management, SEK bn Stable growth in household mortgages SEK bn 545 549 509 Transferred 382 404 418 449 431 483 459 to PWM&FO 358 Transferred 278 281 220 237 247 to PWM&FO 185 197 143 154 155 160 530 242 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Mar 2022 Solid operating profit Average quarterly operating profit, SEK bn 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Mar 2022 Steady improvement in efficiency and stable profitability Business equity (SEK bn) Return on business equity -C/I 0.57 60 0.49 0.46 0.48 0.48 0.46 0.46 0.44 0.44 0.45 0.42 2.2 2.1 2.0 1.9 2.0 2.0 1.8 1.8 1.8 40 1.4 22.3% 1.1 21.9% 21.4% 15.2% 15.0% 15.3% 14.8% 20 20 14.7% 13.9% 14.2% 12.5% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2020-2021: Operating profit and ratios restated for changes in organisation and income statement. Lending voliumes not restated for organisational change. 0 2021 Q1 2022 2014-2015 restated following the new organisational structure as of 1 Jan 2016. As a result, 2012- 2013 figures are not comparable. 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 SEB#70Private Wealth Management & Family Office Asset under management SEK bn 1,295 Stable performance SEK bn 1,094 1,101 1,143 994 890 844 744 659 Business equity (SEK bn) Return on business equity -C/I 0.65 0.59 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 0.54 0.56 0.58 0.58 0.51 0.53 0.54 Solid operating profit Quarterly operating profit, SEK m 285 272 259 260 249 227 228 226 217 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 70 Operating profit and ratios: 2020-2021 restated for changes in organisation and income statement 2014-2015 restated following the new organisational structure as of 1 Jan 2016. As a result, 2012- 2013 figures are not comparable. 0 26.6% 22.7% 20.5% 26.3% 24.3% 21.4% 20.9% 22.3% 23.3% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 SEB#7171 Baltic SEB in the Baltics # FTEs # offices # customers Operating profit as % of total group Credit exposure as % of total credit portfolio Credit portfolio growth EUR bn Second largest bank in terms of lending market share in the Baltic region Estonia Latvia Lithuania 17% Other 25% 33% 1,065 1,968 2,832 10% 22% Luminor 15 22 22 20% 26% 29% SEB 486,000 464,000 877,000 21% 4% 2% 5% 39% 26% 31% Swedbank 2.6% 1.3% 2.9% Estonia Latvia Lithuania Source: Estonian Financial Supervision Authority, Association of Latvian Commercial Banks, Association of Lithuanian Banks, Q3 2021 Strong development of profitability and efficiency SEK bn 15 Business equity Return on business equity C/I 0.62 5 5 5 5 6 6 6 7 7 8 8 0.52 0.50 0.50 0.51 10 9 9 9 9 9 10 11 11 11 11 11 0.44 0.41 0.39 0.40 0.40 24.4% 22.6% 24.5% 0.35 5 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Mar 12.9% 14.5% 18.6% 19.3% 23.5% 16.8% 22.3% 9.7% 2022 0 Corporate & property mgmt Households 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 2020: Business equity increased due to updated credit risk models in Q1 2011-2018: Excluding Real Estate Holding Companies 2011: Write-back of provisions of SEK 1.5bn SEB#72Assets under management Assets under management¹ SEK bn 1,399 1,261 1,328 1,830 1,749 1,708 1,668 1,699 1,475 2,106 2,041 Development during Q1 2022 SEK bn 180 2,682 2,682 200 230 2,432 2,432 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 31 Mar 31 Dec 2021 Inflow Outflow Change in value 31 Mar 2022 2022 72 1 Definition of assets under management changed from 2015. Divestment of SEB Pension DK in 2018 reduced AUM by approx. SEK 116m. SEB#7373 Financial aspirations for divisions evaluated annually Return on Business Equity Cost/Income Aspiration 1 Actual 2021 Aspiration Actual 2021 Large Corporates & Financial Institutions >13% 14.3% <0.50 0.41 Corporate & Private Customers >16% 14.8% <0.40 0.44 Private Wealth Management & Family Office >25% 23.1% <0.50 0.59 Baltic >20% 22.3% <0.40 0.40 Life >30% 43.7% <0.45 0.36 Investment Management >40% 76.1% <0.40 0.35 SEB Group ~15% 13.9% ~0.45 0.42 1 To be viewed as long-term (5 year perspective) and will be updated based on other Nordic banks' performance. SEB#7474 IR contacts and calendar Pawel Wyszynski Head of IR (paternity leave) Employed in SEB since: 2020 Mobile: +46 70 462 21 11 E-mail: [email protected] Philippa Allard Senior Debt IR Employed in SEB since: 1998 Mobile: +46 70 618 83 35 E-mail: [email protected] Per Andersson Senior IR (Acting head) Employed in SEB since: 1991 Mobile: +46 70 667 74 81 E-mail: [email protected] Financial calendar 2022 1 July Silent period starts 14 July Quarterly report Jan - June 2022 1 Oct 26 Oct Silent period starts Quarterly report Jan - Sep 2022 SEB#75Thank you for your attention. Positively shaping the future, with responsible advice and capital. Today and for generations to come. SEB