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SEB#33 01 02 SEB in brief Financial update - Q2 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and 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 YTD 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% 7bps (2) 0.41 (0.42) 11% CET1 ratio Return on equity 3% 18.6% (19.7) 12.8% (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#55 -10 Attractive profit growth over time... SEK bn Operating income Operating expenses Profit before credit losses 70 60 50 50 40 40 30 20 10 0 1991 1993 1995 1997 1999 2001 2003 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#66 ...and stable capital generation Return on risk exposure amount % 3.7% 3.4% 3.0% 2.7% 2.1% 3.0% 2.7% 2.6% 2.5% 2.0% 1.8% 1.6% لأساس 0.9% 1.2% 0.2% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2022 Average SEB#77 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#88 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#9Our 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 9 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#10Our 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. 10 1 Excluding items affecting comparability. SEB#1111 04 Capital 05 01 02 230 SEB in brief Financial update - Q2 03 Credit portfolio and asset quality Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix#1212 Highlights in Q2 2022 • • • Solid operating result enabled by our diversified business model, despite a worsening macroeconomic backdrop and Russia's war in Ukraine. Return on equity amounted to 12.3 per cent on a capital management buffer that exceeds the regulatory requirement by 480 basis points. Continued robust asset quality, with net expected credit losses of 6 basis points SEB#13The heightened level of uncertainty prevailed in the second quarter Equity markets Interest rates Total shareholder return -OMX Stockholm -S&P500 MSCI World Annual yield of 10Y government bonds (%) Since end 2019 Since peak 16% -28% 23% 11% -Sweden -Germany United States -19% -21% 3.5 170 2.5 140 1.5 110 0.5 80 -0.5 50 -1.5 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Credit spreads Inflation rates -SEB CDS 5Y (LHS) EUR Inv Grade 5Y (LHS) Consumer price index, YoY (%) Sweden Euro area United States 250 EUR Sublny Grade 5Y (RHS) 1,000 10.0 200 800 8.0 6.0 150 600 4.0 100 400 2.0 50 200 0.0 0 0 -2.0 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 May-22 13 Note: data as per 5 July. Equity market data is indexed assuming 2019-12-31 = 100. Source: Macrobond. SEB#14Development of credit portfolio SEK bn 1,600 1,400 1,200 1,000 800 600 400 Credit portfolio by sector Lending by sector QoQ YTD YOY QoQ YTD YOY Corporates fx-adjusted 5% 8% 21% 5% 12% 21% 0% -1% 9% 1% 6% 13% Households 1% 3% 3% 1% 2% 6% Swedish mortgages 0% 2% 2% 0% 1% 4% Commercial real estate fx-adjusted 3% 5% 6% 4% 9% 8% 2% 4% 5% 3% 7% 6% 200 Residential real estate Housing co-ops -3% -4% -1% -2% -2% 1% -2% -2% 2% 0% 1% 4% 0 Dec '13 Dec '15 Dec '17 Dec '19 Dec '21 Jun 22 Non-banks 3% 5% 12% 3% 6% 11% SEB 14 Note: credit exposure includes on- and off-balance sheet exposures. FX-adjusted excludes trading products.#1515 Financial summary YTD 2022 SEK m Jan-Jun 2022 Jan-Jun 2021 Total operating income 29,209 27,539 +6% Net interest income 14,804 12,768 +16% Net fee and commission income 10,895 10,055 +8% Net ECL level 7 bps C/I 0.41 Net financial income 3,488 4,599 -24% Total operating expenses -11,995 -11,477 +5% CET1 18.6% Profit before ECL and imposed levies 17,214 16,062 +7% Net expected credit losses -933 -163 RoE 12.8% Imposed levies -1,138 -509 +124% Operating profit 15,142 15,391 -2% SEB#1616 Financial summary Q2 2022 SEK m Q2 2022 Q1 2022 Q2 2021 Net ECL level Total operating income 14,441 14,768 -2% 13,924 +4% 6 bps Net interest income 7,742 7,062 +10% 6,468 +20% C/I Net fee and commission income 5,498 5,398 +2% 5,280 +4% 0.43 Net financial income 1,154 2,334 -51% 2,056 -44% CET1 Total operating expenses -6,201 -5,793 +7% -5,759 +8% 18.6% Profit before ECL and imposed levies 8,240 8,974 -8% 8,164 +1% Net expected credit losses -399 -535 -26% -7 RoE 12.3% Imposed levies -556 -582 -5% -242 +130% Operating profit 7,285 7,857 -7% 7,916 -8% SEB#1717 Net interest income development Net interest income (SEK bn) Jan-Jun 2022 vs. Jan-Jun 2021 +16% Net interest income type (SEK bn) Q2 2020 Q2 2022 Lending 5.6 14.8 12.8 Q2-20 6.3 5.9 Q2-21 LC&FI C&PC Baltic 3.3 2.7 2.8 2.9 Other Q2-22 0.8 0.9 0.7 0.3 Jan-Jun 2021 Jan-Jun 2022 Q2-21 Q2-22 Q2-21 Q2-22 Q2-21 Q2-22 Q2-21 Q2-22 SEB#1818 0.0 Nov-17 1.0 Oct-18 2.0 Sep-19 3.0 -SEB Peers avg. 5Y covered bond 4.0 Aug-20 Mortgage rates have increased less than banks' funding cost Mortgage rates driven upwards by increased funding cost Monthly average 5Y new lending mortgage rates (%) Comparatively more conservative pricing than peers... Delta between monthly average 5Y new lending mortgage rates and monthly average 5Y covered bond (%) ...resulting in lower lending growth Lending growth YoY (%) Jul-21 Jun-22 0.0 Nov-17 0.5 Oct-18 1.0 Sep-19 1.5 2.0 Note: 'Peers avg.' include Swedbank, Handelsbanken, Nordea, SBAB, Länsförsäkringar. Source: 5Y covered bond: Riksbanken. Monthly average new lending mortgage rates: banks' respective websites. Lending growth: SCB. Aug-20 Jul-21 Jun-22 SEB Nov-17 -Peers avg. YTD 8 Peers -0.8 ppt SEB -0.5 ppt 2 Oct-18 4 Sep-19 Aug-20 Jul-21 SEB -SEB growth YoY Jun-22 Market growth YoY#1919 Net fee & commission income development Net fee & commissions (SEK bn) Jan-Jun 2022 vs. Jan-Jun 2021 Net fee & commissions by income type (SEK bn) Q2 2020 Q2 2022 +8% Net securities commissions (custody, mutual funds, brokerage) 2.1 2.8 2.4 Q2-20 Q2-21 Q2-22 10.9 Net advisory fees, lending fees & other commissions 10.1 1.3 1.4 1.7 Q2-20 Q2-21 Q2-22 Net payment & card fees 0.7 0.9 1.2 Q2-20 Q2-21 Q2-22 Net life insurance commissions Jan-Jun 2021 Jan-Jun 2022 0.3 0.3 0.2 Q2-20 Q2-21 Q2-22 SEB#20The strength of a diversified business model: fees and commissions Gross fee income Quarterly isolated, SEK bn Gross fee income, main components Total SEK 7.1bn, Q2 2022 Quarter-on-quarter Q2-22 vs. Q1-22 20 20 +9% YOY Lending fees 7.3 6.9 7.1 6.5 6.4 Payment and card fees Custody and mutual funds -9% Secondary markets and derivatives -3% 24% 17% Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Issue of securities and advisory -3% -33% Lending fees Payment and card fees Custody and mutual funds Secondary markets and derivatives Issue of securities and advisory Other Other n/a Year-on-year Q2-22 vs. Q2-21 n/a 5% 5% 32% 32% SEB#21The strength of a diversified business model: FICC and Equities 21 Fixed income, Currencies, Commodities (FICC) and Equities Operating income, Q2-22 vs. Q2-21 Fixed income -81% Currencies Main components of Fixed income Operating income, indexed Q2 2020 = 100 Commodities 150 Equities 80% 61% -21% 50 50 -Credits Rates -50 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Main components of Equities Operating income, indexed Q2 2020 = 100 200 100 0 Equity finance Equity sales Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 SEB#2222 Net financial income development Net financial income (SEK bn) Jan-Jun 2022 vs. Jan-Jun 2021 4.6 -24% 3.5 Net financial income development (SEK bn) Q2 2020-Q2 2022 3.7 0.8 2.9 Q2-20 whereof CVA/DVA 0.6 INFI Divisions NFI Other 2.1 0.6 1.5 1.2 1.4 -0.2 Q2-21 Q2-22 0.1 Jan-Jun 2021 Jan-Jun 2022 Q2-20 Q2-21 -0.1 Q2-22 SEB#23Operating leverage Average quarterly income (SEK bn) 9.4 9.8 Average quarterly expenses (SEK bn) Average quarterly profit before 13.914.6 expected credit losses and imposed levies (SEK bn) 12.512.7 10. 10.11.2 11.4115 10.8 5.9 5.7 5.6 5.4 5.5 5.5 5.5 5.5 5.7 5.7 5.8 6.0 8.1 6.87.0 5.9 6.0 5.5 5.7 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 Note: data exclude items affecting comparability. 23 8.6 SEB#2424 Expected credit loss allowances SEK bn Model overlay on portfolio level Underlying Stage 3 exposure 15.6 Model overlay on portfolio level A Q1-22 Q2-22 Expected credit loss allowances split by division, Q2 2022 Covid-19 Geopolitical SEK bn 11.8 Underlying Model overlay on portfolio level 5.3 0.8 10.2 10.0 9.1 8.5 1.8 8.8 8.6 8.2 7.4 1.9 2.0 0.5 2.0 4.5 2.0 0.8 1.1 8.4 6.9 6.9 6.1 6.6 0.4 1.2 0.1 0.7 LC&FI C&PC Baltic PWM&FO Q4-19 Q4-20 Q4-21 Q1-22 Q2-22 SEB#2525 Capital development in Q2 CET1 buffer development Quarter-on-quarter (bps) 40 490 40 50 50 Target buffer 100-300bps 480 CET1 ratio development Quarter-on-quarter (percentage points) 0.4 18.7 18.6 0.5 Mar 2022 Profit, FX Jun 2022 Mar 2022 net of dividend Profit, net of dividend FX Jun 2022 SEB#2626 Strong asset quality and balance sheet 2021 June 2022 Asset quality Net expected credit loss level 2 bps Funding & liquidity Customer deposits (SEK) 1,597bn Asset quality Net expected credit loss level Funding & liquidity Customer deposits (SEK) 7 bps 2,073bn Liquidity coverage ratio 145% Liquidity coverage ratio 135% Net Stable Funding Ratio (NSFR) 111% Net Stable Funding Ratio (NSFR) 110% Capital Capital CET1 ratio (Basel 3) 19.7% CET1 ratio (Basel 3) 18.6% CET1 buffer above requirement 590 bps CET1 buffer above requirement 480 bps Total capital ratio (Basel 3) Leverage ratio (Basel 3) 23.1% 5.0% Total capital ratio (Basel 3) 22.0% Leverage ratio (Basel 3) 4.3% SEB#2727 03 04 05 01 720 02 SEB in brief Financial update - Q2 Credit portfolio and asset quality Capital Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix#2828 Corporate portfolio: focus on large corporates with industry diversification and low on-balance sheet exposure 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 1,589 1,473 1,268 1,308 1,172 1,029 1,029 952 936 784 708 730 666 Corporate credit portfolio by sector and credit type % of credit portfolio excluding banks, 30 June 2022 Business and household services Manufacturing Finance & Insurance Electricity, gas and water supply Wholesale & Retail Shipping Transportation Oil, gas and mining Construction 0% 5% 10% 15% Other Total corporate credit portfolio 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jun Agriculture, forestry and fishing Loans: 27% of credit portfolio Undrawn commitments, guarantees and net derivatives: 28% of credit portfolio 2022 Loan portfolio Undrawn committments, guarantees and net derivatives SEB#2929 Real estate porfolio: focus on Sweden and Nordics with conservative lending standards 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 339 340 341 320 5% 294 295 286 259 261 257 243 247 220 Residential 26% real estate management Real estate management portfolios by geography 30 June 2022 Residential real estate exposure: SEK 145bn Average LTV Q2 2022: 46.2% Sweden Other Nordic ■Germany & other 12% 7% 15% Commercial real estate management 32% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jun 2022 Commercial real estate exposure: SEK 197bn Average LTV Q2 2022: 46.7% Sweden Other Nordic Baltics ■Germany & other SEB#30SEB's real estate portfolio is resilient to higher interest rates 30 50 Total real estate and household mortgage lending compared to Nordic peers SEK bn, Q1 2022 2,400 1,600 800 Household mortgages Residential real estate and housing co-ops ■Commercial real estate 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 SEB Commercial real estate lending compared to Nordic peers SEK bn, Q1 2022 400 200 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 SEB Conservative underwriting standards • Group-wide risk tolerance and divisional volume caps. Cash-flow based underwriting standards, interest rate stress tests, restrictions on Loan-to-value and Debt Service Ability. Majority of large clients hedging interest rates (average 3-4 years). Professional clients operating in Sweden and Nordics with diversified property portfolios and funding sources. Average Loan-to-Value, Q2 2022 Commercial real estate 46.7% Residential real estate Housing co-ops 46.2% 27.5% Commercial and residential property values need to drop more than ~25% in order to reach regulatory risk weight floors, given current Probability of Default (PD) levels. 20 largest real estate clients resilient against higher interest rates • Average Interest Coverage Ratio (ICR) at 4.6x by Q1 2022. Internal stress test assuming a 3M STIBOR at 4% by year-end 2023.1 Average ICR in stressed scenario: 2.1x. All clients at or above 1x ICR in stressed scenario. Note: Peer lending figures based on best estimate. Some figures based on Q4 2021 data. Source: Fact books, interim reports, annual reports, risk reports. 1 Given average interest rate hedging of 3-4 years, this translates to about 200bps higher funding cost vs. Q1 2022. Includes commercial and residential real estate clients. SEB#3131 Household mortgages: high asset quality and based on affordability SEB's household mortgage lending growth vs total market SEK bn Low LTVs by global and regional standards 30 June 2022 20% 15% 10% 5% 0% 201106 201206 201306 201406 201506 201606 SEB lending (RHS) -Market growth YoY 201706 201806 201906 202006 202106 202206 SEB growth YoY 600 Loan-to-value >85% 400 71-85% 51-70% 200 0-50% 0 Share of portfolio 0% 1% • • 9% Weighted average LTV = 50.5% 89% 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 4.25% 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 SEB#3232 Robust credit quality over time Total ECL allowances by stage SEK bn 8.6 6.1 7.0 8.3 7.5 7.2 7.0 6.6 5.8 5.0 5.1 3.6 3.5 3.5 3.4 3.7 4.0 4.5 5.3 1.6 1.4 0.8 0.8 1.8 1.6 1.6 1.4 1.4 1.2 0.9 0.8 0.9 0.9 0.9 1.3 1.7 1.7 Г T T T T 1.7 1.4 1.6 1.3 1.4 1.8 1.7 1.7 1.4 1.2 1.2 1.2 1.2 1.4 1.8 2.0 T Credit loss level % 0.92 Baltic crisis Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 0.30 Stage 1 ■Stage 2 Stage 3 Credit-impaired loans increase in Q2 mainly due to currency effects Stage 3 loans, gross, SEK bn 0.96% 0.86% 0.87% 0.77% 0.64%0.65%0.67%0.71% 0.68% 0.58% 0.62% 0.56% 0.51%0.50%0.50% 0.53% 0.42% 0.43% 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 8.8 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 Stage 3 loans, gross Stage 3 loans as % of total loans, gross 0.11 2007 2008 0.15 -0.08 2009 2010 2011 0.26 Average annual CLL 2007-21 0.15% 0.08 0.09 0.09 0.10 0.06 0.07 0.05 0.06 0.07 0.02 Excl. Baltics 0.09% IAS39 IFRS9 SEB#3333 Updated macro scenarios and scenario probability weightings led to an increase of ECL allowances in Q2 Three scenarios for ECL modelling GDP growth assumptions Q2 2022 (Q1 2022) • Positive 10% (15%) probability Base 60% (60%) probability Negative -30% (25%) probability 3.5% 2.8% 3.0% 2.3% 2.3% 2.2% 2.6% 1.8% 2.3% 1.8% 2.0% 2.0% 1.0% 0.3% 0.5% 1.4% 1.5% -0.2% 2022 2023 2024 2022 2023 OECD 2024 Sweden 2022 2023 2024 The upside potential is limited, and the positive scenario assumes a faster resolution of supply side problems and prices normalising more than expected, reinforcing the base effects that are the main drivers of an inflation downturn. . In the base scenario, the war in Ukraine, continued high energy prices and higher interest rates have significant economic impact and GDP growth forecasts have been lowered for 2022. However, a soft landing is expected supported by a number of positive forces. New fiscal stimulus measures will provide short-term support for growth in the euro area. Supply side problems currently driving inflation will eventually ease and the real up interest rates will remain low despite key rate hikes. The negative scenario reflects the downside risks of reversals in central bank policies. Factors that may be underestimated include the interest rate sensitivity of the economy, such as the impact of rates and yields on share and home prices, and a stronger and more protracted inflation upturn requiring further central bank actions. The possible need for energy rationing in Europe and China's economic headwinds are other downside risks. Probability-weighted ECL allowances: SEK 8.6bn 100% probability of positive scenario: -3% ECL allowances 100% probability of negative scenario: +3% ECL allowances Source: SEB Nordic Outlook May 2022. SEB#3434 03 04 05 01 720 02 SEB in brief Financial update - Q2 Credit portfolio and asset quality Capital Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix#35Capital development in Q2 CET1 buffer development Quarter-on-quarter (bps) 35 40 40 50 CET1 ratio development Quarter-on-quarter (%-points) 18.7 490 480 Target buffer 100-300bps 0.4 0.5 18.6 Mar 2022 Profit, FX Jun 2022 Mar 2022 net of dividend Profit, net of dividend FX Jun 2022 SEB#3636 Strong capital position vs. requirements SEB's CET1 and total capital position vs requirements %, 30 Jun 2022 22.0 ● 18.6 480bps Tier 2 AT1 1.7 1.7 17.9 1.5 13.8 2.5 0.1 15 - MDA 4.0 2.5 0.1 level CET1 18.6 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 requirement P2 requirement Capital conservation buffer Countercyclical buffer 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 480bps, compared to target buffer of 100-300bps Leverage ratio at 4.3% (4.3). The requirement and Pillar 2 guidance is 3.45% Countercyclical buffer for Sweden to be raised to 1% in September 2022 and to 2% in June 2023 SEB#37Reasons for management capital buffer 37 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* 11% 43% 33% 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#3858 38 SEB DNB SHB Volkswagen LF Bank 16.9 16.7 Year-end CET1 ratio under the Adverse scenario (%) EBA stress test 2021 confirms SEB's robust capital position 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 (%) Finland -2.8 -3.3 -3.6 -4.1 -4.4 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#3939 04 Capital 05 01 720 02 SEB in brief Financial update - Q2 03 Credit portfolio and asset quality Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix#4040 Strong balance sheet structure with stable deposit base Strong balance sheet structure with deposits as primary source of funding 30 Jun 2022 SEK 4,113bn Long-term stable development of deposit SEK bn 2,000 1,500 Life insurance Derivatives Life insurance 1,000 500 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 Assets Equity Liabilities 2007 2009 2011 2013 2015 2017 2019 2021 Corporate deposits Household deposits Public sector deposits Non-bank deposits in Treasury Stable structural funding position Net Stable Funding Ratio (NSFR) 110% 111% 111% 108% 110% 30 Jun 2021 30 Sep 2021 31 Dec 2021 31 Mar 2022 30 Jun 2022 SEB#4141 Diversified funding structure with deposits as primary funding source Funding sources 30 Jun 2022 10% 3% 5% 5% 15% Corporate deposits Credit inst deposits Covered bonds CP/CDs 11% 1% 50% Household deposits Govmt & central bank deposits Senior debt Subordinated debt Wholesale Loan to deposit ratio Excl repos 140% 90% Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Lowest dependence on wholesale funding compared to peers Benchmarking Swedish banks' total funding sources incl equity 31 Mar 2022 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#42Well-balanced long-term funding profile and solid credit rating Wholesale funding by product SEK 492bn equivalent 8% 6% 21% Maturity profile SEK bn 14% 120 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 140 95 50 90 92 117 101 10 17 32 64 80 40 82 18 28 75 11 34 10 13 15 11 13 32 20 10 20 22 59 53 54 5 81 78 38 44 14 67 19 4 55 41 44 8 <1Y 1-2Y 2-3Y 3-4Y 4-5Y 5-7Y 7-10Y >10Y 2017 2018 2019 2020 2021 YTD 2022 42 1 Excluding public covered bonds. 2 Tier 2 and Additional Tier 1 issues assumed to be called at first call date. SEB#43Swedish implementation of MREL requirements according to BRRD2 • • MREL requirement vs current position 30 June 2022, % of REA SEK 224bn SEK 292bn CBR 6.6% 19.7% Risk based 6.6% 23.5% 27.7% Leverage based Risk based Target 1 Jan 2022 SEK 307bn Subordination requirement vs current position 30 June 2022, % of REA 9.1% Senior preferred debt 5.0% Senior non-preferred debt CBR 6.6% 28.2% 22.0% Capital base Leverage based Own funds and eligible liabilities Requirement 1 Jan 2024 SEK 200bn 6.6% SEK 240bn SEK 230bn 13.5% 23.5% 19.7% 28.2% Risk based Leverage based Risk based Leverage based Target Requirement 1 Jan 2022 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) • • 5.0% Senior non-preferred debt 22.0% Capital base Own funds and subordinated liabilities 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#44SEB's covered bonds 4 44 Moody's rating Total outstanding Benchmark Maturity profile SEK bn Outstanding covered bonds SEK bn Aaa SEK 329bn 400 300 Benchmark 97% 200 Non Benchmark 3% 100 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Outstanding covered bonds - % in SEK vs non-SEK 100% 11 11 16 75% 13 50% 62 56 50 49 39 25% 8 0% <1 y 1-2 Y 2-3 Y 3-4Y 4-5 Y 5-7 Y 7-10 Y >10 Y 2013Q2 2014Q4 SEK Benchmark NonSEK Benchmark Non Benchmark 82% 18% 2016Q2 2017Q4 2019Q2 2020Q4 2022Q2 Covered Bond SEK Covered Bond Non-SEK SEB#4545 55 Cover pool characteristics: only Swedish residential mortgages in SEB's cover pool Cover pool 30 Jun 31 Dec 2022 2021 31 Dec 2020 31 Dec 2019 • Total residential mortgage assets (SEK bn) 711 688 653 613 Weighted average LTV (property level) 47% 47% 52% 51% Number of loans ('000) 764 766 759 737 • Number of borrowers ('000) 433 437 432 428 Weighted average loan balance (SEK '000) 930 899 872 831 Substitute assets (SEK '000) 0 0 0 0 Loans past due 60 days (bps) 4 4 4 5 Net Expected Credit Losses (bps) 0 0 0 0 Overcollateralisation level 116% 133% 81% 73% 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#4646 Cover pool characteristics: mortgages mainly in three largest and fastest growing city areas in Sweden Type of loans Residential apt bldgs, 21% Interest rate type Geographical distribution Fixed rate reset =>5y, 1% Fixed rate. reset 2y<5y, 15% Larger regional cities, 36% Single family, Tenant Floating (3m), 51% 52% owned apartments, 27% Fixed rate reset <2y, 32% LTV distribution >75% 0% 70-75% 1% Prior ranking loans >25%<75% of property 0.3% 60-70% 3% value 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) Stockholm region, 41% Malmö region, 8% Gothenburg region, 15% Interest payment frequency Quarterly Monthly 95.1% 21% 79% SEB#47Short-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 Jun-14 Jun-15 Jun-16 Jun-17 Net trading assets CP/CD Jun-18 Jun-19 Jun-20 Jun-21 Jun-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 40 -250 120 160 -400 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22 47 Note: Net Trading Assets = Net of repoable bonds, equities and repos for client facilitation purposes SEB#4848 Strong liquidity position Liquidity Coverage Ratio 218% Peer benchmarking: 3- and 12-months maturing funding ratio 3 months funding ratio 600% 174% 149% 176% 163% 500% 138%139% 145% 133%133%131% 135% 400% 122% 300% 200% 100% 0% Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 Liquid assets 30 Jun 2022, SEK 1,152bn Q1 2022 Q4 2021 SEB Q3 2021 Q2 2021 Peer 1 Q1 2021 Peer 2 Q4 2020 Average Q3 2020 12 months funding ratio 200% Level 2 assets Other 150% 228 I High quality covered bonds 100% Level 1 assets Extremely high quality covered bonds 50% 817 0% Treasuries & other Public Bonds Q1 2022 Q4 2021 Cash & holdings in Central Banks SEB Q3 2021 Peer 1 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Peer 2 ■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#4949 01 SEB in brief 02 Financial update - Q2 03 Credit portfolio and asset quality 04 Capital 05 06 07 Liquidity and funding Strategy 2030 and sustainability Macro 08 Appendix#50Ambition 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 50 50 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#51Climate 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. 51 2 Work ongoing to classify credit portfolio. Transition ratio to be communicated in 2022. SEB#52The 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 52 42 -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#5353 55 The Green: Sustainability Activity Index to accelerate our efforts Ambition to increase average activity 6x-8x by 2030 100 2021 2025 1 Funds that have sustainable investments as its objective. 800 600 Sustainability-related lending Sustainable finance advisory Volume, indexed 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#54446 54 Strategy 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 Cloud partnership Greentech VC P27 SAMLIT 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#55Financial aspirations for divisions evaluated annually Return on Business Equity Cost/Income Aspiration 1 Actual 2021 Aspiration 1 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 55 1 To be viewed as long-term (5 year perspective) and will be updated based on other Nordic banks' performance. SEB#56The 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 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 56 56 1 Measured as share of credit exposure. + + + + + + Sustainable Paris aligned transition Transition Gradual change Status quo SEB#5757 01 SEB in brief 02 Financial update - Q2 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix#5858 Sweden: PMI and economic sentiment declining from high levels Sweden: Economic sentiment and GDP 7.5 5.0- 2.5 0.0 -2.5 -5.0- -7.5 -10.0 2008 2010 2012 2014 2016 2018 2020 2022 - Economic sentiment indicator (NIER) (hö axel) ■GDP, % q/q (vä axel) Sweden: PMI 75 - 130 70 120 65 110 60- 100 55 50 90 45 80 40 70 35 60 60 30 NIER survey declining from all-time high.. Strong expectations main contributor while current conditions are at more moderate levels SEB Nordic Outlook May 2022 2008 2010 2012 2014 2016 2018 2020 2022 - Manufacturing -Services Composite • PMI has declined slightly from a peak in April 2021 75 70 65 60 55 50 45 40 35 50 30 SEB#5959 Sweden: Labour market is still strong Sweden: Unemployment % Sweden: Employment Index Dec 2019 = 100 Swe: Unemployment, % 9.5 9.0 8.5 8.0 7.5 7.0 6.5 6.0 5.5 96.5 2010 2012 2014 2016 2018 2020 2022 2024 jan maj sep jan maj 2019 Swe: Employment Dec 2019 = 100 102.0 102.0 101.5 101.0 100.5 100.0 99.5 99.0 mmm 98.5- 98.0 97.5 97.0 2020 sep jan maj sep 2021 jan maj 2022 101.5 101.0 100.5 100.0 99.5 99.0 98.5 98.0 97.5 97.0 96.5 -Actual - Riksbank SEB Nordic Outlook May 2022 SEB#60Sweden: Home prices are turning lower Sweden: Home prices Index Aug 2017 = 100 Sweden: Housing starts 1000's 140 130 120 110 100 90 80 140 130 17.5 120 15.0 110 12.5 100 10.0 90 7.5- 80 5.0 70 70 2.5 60 60 0.0+ 2014 2015 2016 2017 2018 2019 2020 2021 2022 - Total Valueguard Houses, Valueguard -Flats, Valueguard Home prices at new highs, houses most important driver Indicators suggest continued firm momentum in the near term SEB Nordic Outlook May 2022 60 1995 2000 2005 2010 2015 2020 - Single family homes Multi-dwelling buildings - Total Housing starts close to peak levels from 2017 17.5 15.0 12.5 10.0 7.5 5.0 2.5 0.0 SEB#6161 Sweden: Budget deficit is expected to decline 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 50 200 150 45 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 May 2022 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 - Total-Ex relending to the Riksbank SEB#6262 Sweden: Riksbank hiked by 50bps in June, to reach 2% in 2023 Sweden: Inflation CPIF, year-on-year percentage change 9. 8 Sweden: Interest rate outlook Repo rate, % 9 3.0 3.0 Market pricing 8 2.5 2.5 7 7 6 - 6 2.0 2.0 The 5 5 1.5 Riksbank 1.5 4 4 SEB 3 3 1.0 1.0 SEB 2- 2 0.5- 0.5 1 The 1 Forecast Riksbank 0.0 0.0 0 0 -1- -1 -0.5 -0.5 2016 2018 2020 2022 2024 2020 2021 2022 2023 2024 2025 SEB Nordic Outlook May 2022 SEB#6363 01 SEB in brief 02 Financial update - Q2 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and sustainability 07 08 Macro Appendix#6464 54 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 1 Fixed income Prospera, Sweden 1 1–1 2-2-21 KANTAR MERA 3 3 KANTAR PROSPERA 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 2022 Corporates Swedish Quality Index (SKI) Peers in Sweden 2 Private individuals Swedish Quality Index (SKI) Sweden Finansbarometern Peers in Sweden 3 1 SKI SVENSKT KVALITETSINDEX 2 2 SVENSKT KVALITETSINDEX 3 3 3 3 22222–2 CSKI 2–2 2 2-2-2-2-2-2 Business bank 1–1–1 5-5 5 6 6 7—7—7 Small enterprise bank 8 8 8 All banks 4 All banks 4 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 2016 2017 2018 2019 2020 2021 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'). SEB#6565 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 Jan-Jun 2022 2010 2012 2014 2016 2018 2020 Jan-Jun 2022 Net interest income Net financial income LC & FI Net other income Note: Traditional life income booked as net financial income as of January 2014. Net fee & commission income I Net financial income, excl. LC&FI I Payments, card, lending Activity based Asset value based Life insurance SEB#6666 Large Corporates & Financial Institutions Large cross-selling potential Client income, SEK bn Diversified business and solid efficiency render healthy profitability despite higher regulatory requirements Clients base ■New clients Business equity (SEKbn) Return on business equity -C/I 23.4 22.0 22.3 80 54% 54% 52% 20.4 50% 49% 49% 19.3 19.0 19.3 47% 46% 45% 46% 17.6 42% 41% 41% 15.6 15.0 15.1 14.0 60 13.4 40 22.8% 20.6% 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% 12.6% 7.9% 5% 7% 16% 2% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021YTD 2022 No. of accumulated new clients* 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2022 84 209 305 413 472 535 594 652 713 765 813 854 884 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. 2010-13: Restated figures following the new organisational structure as of Jan 1, 2016. As a result 2010-2013 figures not comparable SEB#6767 Corporate & Private Customers Stable lending growth in corporate segment Loans to corporates and real estate management, SEK bn Stable growth in household mortgages SEK bn 545 549 509 382 404 418 449 431 483 459 Transferred to PWM&FO 358 Transferred 278 286 220 237 247 to PWM&FO 185 197 143 154 155 160 530 247 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jun 2022 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jun 2022 Solid operating profit Average quarterly operating profit, SEK bn Steady improvement in efficiency and stable profitability Business equity (SEK bn) Return on business equity -C/I 0.57 60 0.49 2.2 0.46 0.48 0.48 0.46 0.46 0.44 2.1 0.42 0.44 0.43 2.0 1.9 2.0 2.0 2.0 1.8 1.8 40 1.4 22.3% 21.9% 21.4% 1.1 15.2% 15.0% 15.3% 14.8% 20 20 14.7% 13.9% 14.2% 13.6% 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 YTD 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 YTD 2022 SEB#6868 Private Wealth Management & Family Office Asset under management ŞEK bn 1,295 Stable performance SEK bn 1,143 1,094 1,101 994 934 890 844 744 659 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 Q2 2022 0.54 0.56 0.58 0.58 0.51 0.53 0.54 Solid operating profit Quarterly operating profit, SEK m 285 272 259 258 249 227 228 226 217 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2022 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. 26.6% 22.7% 20.5% 26.3% 24.3% 21.4% 20.9% 22.3% 22.3% 0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2022 SEB#69Baltic SEB in the Baltics Second largest bank in terms of lending market share in the Baltic region Estonia Latvia Lithuania 17% Other 28% 33% # FTEs (including division and service centers in SEB AB) # offices 1,103 2,011 2,893 22% Luminor 9% 15 22 22 20% 25% 29% SEB # customers 486,000 464,000 877,000 21% Operating profit as % of total group 4% 2% 5% 38% 25% 31% Swedbank Credit exposure as % of total credit portfolio 2.6% 1.3% 2.9% Estonia Latvia Lithuania Credit portfolio growth EUR bn Corporate & property mgmt Households Source: Estonian Financial Supervision Authority, Association of Latvian Commercial Banks, Association of Lithuanian Banks, Q1 2022 Strong development of profitability and efficiency SEK bn 15 Business equity Return on business equity -C/I 0.62 0.52 6.4 6.0 6.9 7.2 7.7 8.0 10 5.5 5.2 5.1 5.0 5.2 0.50 0.50 0.51 0.44 0.41 0.39 0.40 0.40 24.4% 22.6% 24.5% 0.37 5 8.6 8.7 8.6 8.6 9.4 10.3 10.8 10.6 10.9 10.7 10.6 12.9% 14.5% 18.6% 19.3% 16.8% 22.3% 22.6% 9.7% 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jun 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021YTD 2022 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#70Assets under management Assets under management¹ SEK bn 1,830 1,749 1,708 1,668 1,699 1,475 1,399 1,328 1,261 70 70 2,106 2,041 2,682 2,432 2,100 2022 2022 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 31 Mar 30 Jun Development during Q2 2022 SEK bn 1 Definition of assets under management changed from 2015. Divestment of SEB Pension DK in 2018 reduced AUM by approx. SEK 116m. 2,432 163 202 293 2,100 31 Mar 2022 Inflow Outflow Change in value 30 Jun 2022 SEB#7171 Shareholders and dividends 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, 30 Jun 2022 per cent Investor AB Alecta Pension Insurance 20.9 5.8 Swedbank Robur Funds 4.6 Trygg Foundation 4.2 AMF Insurance & Funds 4.1 BlackRock 2.7 SEB Funds 2.3 Vanguard Own shareholding Handelsbanken Funds Total share of foreign shareholders 2.1 1.9 1.7 28.8 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 DPS, SEK Payout ratio 2.75 4.00 4.75 5.25 5.50 5.75 52% 59% 54% 66% 75% 70% 6,00+ 0.00 4.10+ 6.00 0.50 4.10 70% 0% 113% 51% Source: Euroclear Sweden/Modular Finance. • A first 2.5bn share buyback program ran between Oct 2021-Mar 2022. A second SEK 2.5bn share buyback program is running between Mar-Oct 2022 Note: Net profit and payout ratio 2014-2021 excluding items affecting comparability. Payout ratio 2018 excluding extra ordinary DPS, including the latter payout 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 payout ratio for these years of around 50 per cent. DPS and the payout ratio for 2021 exclude share buybacks. SEB#72Summary key financials YTD 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 1) Return on equity, % 2) 12.8 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) 41 42 45 46 48 48 50 49 50 54 61 62 Net ECL level / Credit loss level, % 4) 0.07 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) 0.43 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) 135 145 163 218 147 145 168 128 115 129 ΝΑ NA Net Stable Funding Ratio (NSFR), % 110 111 CET1 ratio, % 7) Total capital ratio, % 7) Leverage ratio, % 7) 18.6 19.7 21.0 17.6 17.6 19.4 18.8 18.8 16.3 15.0 ΝΑ ΝΑ 22.0 23.3 25.1 23.3 22.2 24.2 24.8 23.8 22.2 18.1 NA NA 4.3 5.0 5.1 5.1 5.1 5.2 5.1 4.9 4.8 4.2 ΝΑ ΝΑ 19,591 21,847 12,022 10,428 7,734 8,046 6,859 7,196 6,763 5,958 5,191 4,490 2,100 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. 72 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. 7) 2016-2014 is according to CRD IV/CRR and 2013 was estimated based on SEB's interpretation of future regulation. SEB#7373 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 Oct 26 Oct Silent period starts Quarterly report Jan - Sep 2022 SEB#74Thank you for your attention Positively shaping the future, with responsible advice and capital. Today and for generations to come. SEB