#1Investor presentation Third quarter 2022 26 October 2022 SEB#22 Disclaimer IMPORTANT NOTICE THE FOLLOWING APPLIES TO THIS PRESENTATION, ANY ORAL PRESENTATIONS OF THE INFORMATION IN THIS PRESENTATION BY SEB OR ANY PERSON ON ITS BEHALF, AND ANY QUESTION AND ANSWER SESSION THAT FOLLOWS ANY SUCH ORAL PRESENTATIONS. THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AT AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO AN INVESTOR. THIS PRESENTATION IN AND OF ITSELF SHOULD NOT FORM THE BASIS OF ANY INVESTMENT DECISION. BY ATTENDING THE PRESENTATION OR BY READING THE PRESENTATION SLIDES YOU AGREE TO BE BOUND AS FOLLOWS: This presentation is not an offer for sale of securities in the United States, Canada or any other jurisdiction. 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These risks and uncertainties include, but are not limited to, SEB's ability to successfully implement its strategy, future levels of non-performing loans, its growth and expansion, the adequacy of its allowance for credit losses, its provisioning policies, technological changes, investment income, cash flow projections, exposure to market risks as wells other risks. SEB undertakes no obligation to publicly update or revise forward-looking statements contained herein, whether as a result of new information, future events or otherwise. In addition, forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. You should not place undue reliance on forward-looking statements, which speak only as of the date of this presentation. SEB#33 01 02 SEB in brief Financial update 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix SEB#4SEB-a leading northern European bank with international reach Norway Finland Sweden St. Petersburg Estonia Latvia Denmark Lithuania New York United Dublin Kingdom Netherlands Warsaw Germany New Delhi Luxembourg Kyiv Beijing Shanghai Hong Kong Switzerland Austria Kuala Lumpur Nice Singapore Key financials YTD 2022 (FY 2021) São Paulo Operating profit by division¹ 2021 Net ECL level C/I ratio 8% 8% 7bps (2) 0.40 (0.42) 11% CET1 ratio Return on equity 3% 18.1% (19.7) 13.5% (13.9) 4 1 Business divisions excluding Group functions and eliminations 29% • · Unique customer base and leading market positions Engaged and long-term focused shareholder base Profitable growth through diversified business model • Strong capital and liquidity position • Solid credit rating: AA- / Aa3 / A+ with stable outlook (Fitch/Moody's/S&P) Credit portfolio by segment 30 Sep 2022 9% 7% 42% ■ Corporates ■Commercial real estate ■ Residential real estate ■ Household mortgages & BRF Household other ■Large Corporates & Financial Institutions Corporate & Private Customers 41% I Private Wealth Mgmt & Family Office Baltic 29% Life Investment Mgmt 7% 6% Public admin & banks SEB#55 -10 Strong profitable growth over time... SEK bn Operating income 70 Profit before credit losses 60 60 50 50 40 40 30 50 20 20 10 10 0 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 Operating expenses Credit losses Operating profit 2013 2015 2017 2019 2021 CAGR 1990- 2013- Q3 2022 Q3 2022 Operating income +5% +5% Operating costs +4% 0% Profit before +6% +9% ECL & imposed levies SEB#66 ...and stable capital generation Return on risk exposure amount % 1.2% 0.9% 3.0% 2.7% 2.6% 2.5% 2.0% 1.8% 1.6% 3.7% 3.4% 3.1% 2.1% 2.7% الناس 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 Diversified income stream Operating income by type Nordea Swedbank SHB SEB Danske Nordea Swedbank Real estate management Other Net interest income Net financial income SEB DNB Danske Corporates Institutions Household mortgages Other retail loans Source: Annual reports 2021 SHB Net fee & commission income Net other income DNB SEB#88 Relative financial strength Cost/income ratio 2011-Jun 2022, rolling LTM 80% Cost of risk 2011-Jun 2022, rolling LTM 1.5% 70% 60% 50% 40% 1.0% 0.5% 0.0% SEB 45% -0.5% Return on equity 2011-Jun 2022, excluding IAC, rolling LTM CET1 capital ratio 2014-Jun 2022 25% 20% SEB 13.1% 15% 20% 10% 5% 0% Source: S&P Global 15% 10% SEB Nordic peer average European peer average SEB 0.07% SEB 18.6% 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 Climate ambitions and goals to ensure our progress Goal: To reduce exposure by 45-60% by 2030, compared to a 2019 baseline 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 le-a Net Zero-World- without CCUS 100 NGFS Divergent Net Zero-Europe - Remind SEB Q3 2021 -45% to -60% reduction 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#1010 Setting 2030 targets in alignment with Net-Zero Banking Alliance UN environment programme finance initiative The 2030 sector targets are part of SEB's commitment to the Net Zero Banking Alliance, which SEB formed in 2021 together with 42 other banks in order to accelerate the transition of the global economy to net zero emissions by 2050 at the latest. As part of the initiative, SEB has committed to align operational and attributable emissions from its credit portfolio with pathways to net-zero by 2050 or sooner, and to set interim targets for 2030. SEB targets Sector Emissions scope 1 Credit exposure4 Metric 2020 baseline 2030 target A 2020-2030 Oil and gas: E&P 2 and refining 1, 2, 3 SEK 43.6bn Power generation 1,2 SEK 94.5bn mtCO2e3 g CO₂e/kWh 18.4 8.3 -55% 123 70 -43% Steel 1,2 SEK 10.9bn tCO2e/t steel 1.40 0.98 -30% Car manufacturing 3 SEK 17.5bn Swedish household mortgages 1,2 SEK 510.6bn g CO₂e/km kg CO₂e/m2 153 61 -60% 3.12 2.18 -30% Total credit exposure 4 SEK 677.2bn 1 Scope 1 = direct emissions from own sources, scope 2 = indirect emissions from purchased energy, scope 3 = use of sold products. 2 Exploration and production. ³ Financed emissions. 4 Total credit exposure includes on- and off-balance. Further information regarding SEB's Net-Zero Banking Alliance targets is available on www.sebgroup.com SEB#1111 + Our 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. 1 Excluding items affecting comparability. SEB#1212 04 Capital 05 01 02 230 SEB in brief Financial update 03 Credit portfolio and asset quality Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix SEB#1313 Highlights in Q3 2022 • • Continued operating leverage and robust asset quality led to 14.9 per cent return on equity, with a capital management buffer of 410 basis points. Customer sentiment, activity and our results were impacted by higher inflation, rising interest rates and volatile financial markets A new quarterly SEK 1.25bn share buyback program launched SEB#14心 Dec-19 2 4 a 8 10 12 Adapting to a new environment -Sweden Euro area United States Inflation rates Interest rates Consumer price index, YoY (%) Annual yield, 10Y gov't bonds (%) Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Sep-22 -1.5 14 Note: data for interest rates and credit spreads per 20 October 2022. Dec-19 Jun-20 -Sweden -Germany -United States 3.5 Credit spreads Basis points Market sentiment -SEB CDS 5Y (LHS) EUR Inv Grade 5Y (LHS) -Europe, Manufacturing PMI (RHS) -EUR Sublnv Grade 5Y (RHS) 250 1,000 140 70 Economic tendency survey and PMI Swedish businesses (LHS) 120 60 2.5 200 800 100 50 50 1.5 150 600 80 40 0.5 100 400 60 30 -0.5 50 200 40 40 20 20 Dec-20 Jun-21 Dec-21 Jun-22 Sep-22 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Sep-22 20 20 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 SEB Sep-22 10 10#15SEB's position in the sustainability transition Increase in sustainable financing... Sustainable financing (SEK bn) (part of SEB's Green index) 103 64% ... supporting our customers in their sustainability transitions 2030 targets aligned with Net-Zero Banking Alliance Transition in numbers: SEB Sustainability Event 2022 169 Mercedes-Benz Sustainability-linked loan EUR 11bn AKER Green bond NOK 2bn UN environment programme finance initiative SEB committed to align operational and attributable emissions from its credit portfolio with pathways to net-zero by 2050 or sooner, and to set interim targets for 2030 SEB has now set five sector targets A year after the launch of our sustainability strategy SEB Save the date: 15 November 2022 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 15 Note: more information regarding SEB's Net-Zero Banking Alliance targets available on www.sebgroup.com. SEB#1616 Our efforts have resulted in positive feedback from our customers Large Corporates Prospera, Sweden and Nordics 1 Sweden HHHHHHH Financial Institutions Prospera, Sweden and Nordics 1 Sweden 1 AVIA 1. 1 1 2 2 2 Nordics 11111-1 Fixed income Prospera, Sweden 2-2 2 3-3 1 1 1 Nordics 1-1 1 KANTAR PROSPERA Sustainability advice Prospera, Sweden and Nordics Sweden 1+1=-1 1 KANTAR EAS 1-1-11 Nordics ANTAR GR 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 2016 2018 2020 2022 Corporates Swedish Quality Index (SKI) Private individuals Sweden Swedish Quality Index (SKI) Finansbarometern Peers in Sweden 2 Peers in Sweden 3 1 1 SKI SVENSKT KVALITETSINDEX 2 2. 3 3 3 2 2 5 5 5 6 6 222222–2 887778 All banks 4 2016 2018 2020 2022 All banks 4 2016 2018 2020 2022 2016 2017 2018 2019 2020 2021 Private Banking Prospera, Sweden Business bank 111 2-2-2 2 2—2—2—2—2—2—2 Small enterprise bank 4-4-4 4 4 7-7 2016 2018 2020 2022 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'). 2016 2018 2020 2022 SEB#170 20 1990 40 1992 SEK bn 60 Compound annual growth rate (CAGR) Operating income Operating expenses Profit before ECL and imposed levies Note: data based on rolling four quarters. Figures restated since 2016. 17 Operating leverage over time 1995 1998 2001 Operating income Operating expenses 2004 2007 2010 2013 Profit before ECL and imposed levies 1990 Q3-22 +5% 2013 Q3-22 +5% 2017 Q3-22 +6% +4% 0% +2% +6% +9% +9% SEB 2016 2019 Q3-22#1818 Financial summary YTD 2022 SEK m Jan-Sep 2022 Jan-Sep 2021 Net ECL level Total operating income 45,759 41,511 +10% 7 bps Net interest income 23,728 19,380 +22% C/I Net fee and commission income 16,157 15,258 +6% 0.40 Net financial income 5,812 6,718 -13% CET1 Total operating expenses -18,288 -17,148 +7% 18.1% Profit before ECL and imposed levies 27,472 24,363 +13% Net expected credit losses -1,501 -211 RoE 13.5% Imposed levies -1,711 -764 +124% Operating profit 24,260 23,388 +4% SEB#1919 Financial summary Q3 2022 SEK m Q3 2022 Q2 2022 Q3 2021 Net ECL level Total operating income 16,551 14,441 +15% 13,971 +18% 8 bps Net interest income 8,925 7,742 +15% 6,612 +35% C/I Net fee and commission income 5,261 5,498 -4% 5,202 +1% 0.38 Net financial income 2,324 1,154 +101% 2,119 +10% CET1 Total operating expenses -6,293 -6,201 +1% -5,671 +11% 18.1% Profit before ECL and imposed levies 10,258 8,240 +24% 8,300 +24% Net expected credit losses -567 -399 +42% -49 RoE 14.9% Imposed levies -572 -556 +3% -255 +125% Operating profit 9,118 7,285 +25% 7,997 +14% SEB#20Net interest income development Net interest income (SEK bn) Jan-Sep 2022 vs. Jan-Sep 2021 +22% Net interest income type (SEK bn) Q3 2020-Q3 2022 Lending 5.8 20 20 23.7 19.4 Q3-20 LC&FI C&PC 3.7 3.7 2.6 2.7 6.0 Q3-21 Baltic Other 6.4 Q3-22 1.0 0.8 0.6 0.5 Jan-Sep 2021 Jan-Sep 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 SEB#2121 Net interest income development SEK m 19,380 Of which Swedish mortgage volumes SEK +150m Of which Swedish mortgage margins SEK -350m 1,330 12 1,944 283 +22% 23,728 870 475 Jan-Sep 2021 Deposit margins Deposit volumes Lending margins Lending volumes Fixed income, Currencies and Commodities Other Jan-Sep 2022 incl. Treasury Note: including fx-effect of SEK +325m. SEB#2222 Net fee & commission income development Net fee & commissions (SEK bn) Jan-Sep 2022 vs. Jan-Sep 2021 Net fee & commissions by income type (SEK bn) Q3 2020-Q3 2022 +6% 16.2 15.3 Net securities commissions (custody, mutual funds, brokerage) 2.1 2.7 Q3-20 Q3-21 Net advisory fees, lending fees & other commissions 1.1 2.4 Q3-22 1.3 1.4 Q3-20 Q3-21 Q3-22 Net payment & card fees 0.8 0.9 1.2 Q3-20 Q3-21 Q3-22 Net life insurance commissions Jan-Sep 2021 Jan-Sep 2022 0.3 0.3 0.3 Q3-20 Q3-21 Q3-22 SEB#2323 Net financial income development Net financial income (SEK bn) Jan-Sep 2022 vs. Jan-Sep 2021 Net financial income development (SEK bn) Q3 2020-Q3 2022 -13% 6.7 5.8 2.0 0.2 1.8 Q3-20 whereof CVA/DVA NFI Divisions NFI Other 2.1 2.3 0.7 0.6 1.5 1.7 Q3-21 Q3-22 0.2 0.1 0.0 Jan-Sep 2021 Jan-Sep 2022 Q3-20 Q3-21 Q3-22 SEB#2424 Fixed income, currencies and commodities from a long-term perspective Markets income by main product cluster Rolling four quarters applied. Excluding XVA Currencies and Commodities Fixed Income Equities Q4-12 Q4-13 Q4-14 Q4-15 Q4-16 Q4-17 Q4-18 Q4-19 Q4-20 Q4-21 Q3-22 Operating income Jan-Sep 2022 vs. Jan-Sep 2021 Operating income growth over time Compounded annual growth rate (CAGR) Max +25% Average Min -20% 220% Q4 2012 Q3 2018 Q3 2018 Q3 2022 85% Currencies and Commodities +1% +21% Fixed Income -14% -7% -15% Equities -8% +5% Currencies Commodities -60% Fixed income CAGR total -6% +12% Equities SEB#2525 Strong asset quality and balance sheet 2021 September 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 2,127bn Liquidity coverage ratio 145% Liquidity coverage ratio 120% Net Stable Funding Ratio (NSFR) 111% Net Stable Funding Ratio (NSFR) 109% Capital Capital CET1 ratio (Basel 3) 19.7% CET1 ratio (Basel 3) 18.1% CET1 buffer above requirement Total capital ratio (Basel 3) 590 bps 23.1% CET1 buffer above requirement 410 bps Total capital ratio (Basel 3) 21.6% Leverage ratio (Basel 3) 5.0% Leverage ratio (Basel 3) 4.3% SEB#2626 01 SEB in brief 02 Financial update 03 Credit portfolio and asset quality 04 05 Capital Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix SEB#2727 Development of credit portfolio Credit portfolio by main sectors SEK bn Credit portfolio growth rates Quarter-on-quarter and year-on-year 2,000 1,500 1,000 500 -Corporates Housing co-ops - Commercial real estate Households - Residential real estate Sector QoQ YOY Corporates 5% 25% FX-adjusted 1 3% 11% Households -2% 1% Swedish mortgages -2% 0% Commercial real estate 0% 6% Residential real estate Housing co-ops -1% -4% 0% 0% Total (excluding banks) 3% 14% Q4-09 Q4-11 Q4-13 Q4-15 Note: data include on- & off-balance sheet exposures. 1 Corporate FX-adjusted excluding trading products. Q4-16 Q4-17 Q4-18 Q4-19 Q4-20 Q4-21 Q3-22 SEB#2828 SEB's corporate portfolio is focused on large corporates and well diversified Focus on large corporates Corporate credit portfolio by division (excludes real estate) Industry diversification and low on-balance sheet exposure % of credit portfolio excluding banks, 30 September 2022 0% 5% 10% 15% Large Corporates & Financial Institutions Corporate & Private Customers SEK 1,668bn Baltics Other Geographical diversification - further diversification from high share of large companies with export and international operations SEK bn 1,500 1,000 500 Other Business and household services Manufacturing Finance & Insurance Electricity, gas and water supply Wholesale & Retail Shipping Transportation Other Oil, gas and mining Construction Agriculture, forestry and fishing ■ Baltics ■Germany, UK Total corporate credit portfolio ■ Other Nordic ■ Sweden Loans: 28% of credit portfolio Undrawn commitments, guarantees and net derivatives: 28% of credit portfolio 0 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Sep '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 ■Loan portfolio Undrawn committments, guarantees and net derivatives SEB#29SEB's real estate portfolio is resilient to higher interest rates Total real estate and household mortgage lending compared to Nordic peers SEK bn, Q2 2022 2,400 1,600 800 Conservative underwriting standards Household mortgages Residential real estate and housing co-ops ■Commercial real estate • 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. 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 SEB Commercial real estate lending compared to Nordic peers SEK bn, Q2 2022 400 200 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 SEB Average Loan-to-Value, Q3 2022 Commercial real estate 45.0% Residential real estate Housing co-ops 46.6% 27.9% 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 4.5x by Q2 2022. Internal stress test assuming a 3M STIBOR at 4% by year-end 2023.1 Average ICR in stressed scenario: 2.0x. All clients at or above 1x ICR in stressed scenario. 29 Note: Peer lending figures based on best estimate. Source: Fact books, interim reports, risk reports. 1 Given average interest rate hedging of 3-4 years, this translates to about 200bps higher funding cost vs. Q2 2022. Includes commercial and residential real estate clients. SEB#3050 30 SEB's household mortgages are of high asset quality and based on affordability SEB's household mortgage lending growth vs total market SEK bn 5% 0% Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 SEB lending (RHS) -SEB growth YoY -Market growth YoY Low LTVs by global and regional standards 30 Sep 2022 600 Loan-to-value >85% Share of portfolio 0% 71-85% 400 51-70% 200 田 0-50% 87% 0 田租 2% 11% Weighted average LTV = 53.5% 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, in case of apartments, an additional stress of 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#3131 Robust credit quality over time. Total ECL allowances by stage Credit loss level SEK bn 58% 59% 55% 56% % 48% 45% 40% 3.4 7.5 5.8 5.0 5.1 5.1 5.3 1.6 1.4 1.7 1.4 1.6 1.6 1.2 0.8 0.8 1.2 1.4 1.8 2.0 2.3 0.92 Baltic crisis Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Stage 1 Stage 2 Stable asset quality Stage 2 and 3 loans, gross, SEK bn Stage 3 0.30 Coverage ratio, Stage 3 72.5 70.1 61.7 62.1 63.8 66.9 72.7 8.2 11.4 14.9 9.8 8.3 8.8 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Stage 3 loans, gross Stage 2 loans, gross 8.7 0.15 0.11 2007 2008 2009 2010 0.08 0.09 0.09 0.06 0.07 0.05 0.06 2011 2012 2013 2014 2015 2016 IAS39 0.10 2017 2018 2019 2020 0.26 Average annual CLL 2007-21 0.15% IFRS9 0.02 0.07 Excl. Baltics YTD 2022 0.09% SEB#3232 Expected credit loss allowances SEK bn Model overlay on portfolio level Underlying Stage 3 exposure 15.6 Model overlay on portfolio level A Q2-22-Q3-22 Oil, gas and offshore Geopolitical Expected credit loss allowances split by division, Q3-22 SEK bn Underlying Model overlay on portfolio level 5.6 0.6 11.8 10.2 10.0 9.1 9.1 8.5 9.0 1.8 8.8 8.6 8.2 7.4 1.9 1.9 2.0 0.5 2.0 5.0 2.2 0.8 1.1 8.4 6.9 6.9 7.1 6.1 6.6 0.4 1.4 0.1 0.7 LC&FI C&PC Baltic PWM&FO Q4-19 Q4-20 Q4-21 Q1-22 Q2-22 Q3-22 SEB#3333 Updated macro scenarios led to an increase of ECL allowances in Q3 Three scenarios for ECL modelling GDP growth assumptions Q3 2022 (Q2 2022) Positive 15% (10%) probability Negative -30% (30%) probability . . Base 55% (60%) probability 2.7% 3.1% 2.2% 3.2% 2.5% 2.4% 2.6% 2.2% 1.7% 1.3% 0.9% 1.5% 1.1% 1.2% 1.2% 0.0% 2022 -1.0% 2023 -3.0% 2024 2022 2023 2024 2022 2023 2024 OECD Sweden The upside potential is limited and a faster end to the Russia-Ukraine war or unexpectedly strong adaptability in Western Europe could be part of such a scenario. It is also conceivable that the strength of the downturn in inflation over a longer period is underestimated. • In the base scenario, 2023 global GDP forecast has been revised downwards due to a worsening energy crisis and rising inflation forcing central banks to continue hiking key rates. Western Europe is expected to enter a mild recession with near-zero growth in 2023 following a consumption-driven slowdown starting during the fall of 2022. The negative scenario assumes a deepening energy crisis in Europe. A widespread energy rationing in the winter could lead to a much deeper recession than the base scenario. Probability-weighted ECL allowances: SEK 9.0bn 100% probability of positive scenario: -4% ECL allowances 100% probability of negative scenario: +6% ECL allowances SEB#3434 01 SEB in brief 02 Financial update 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix SEB#35Capital development CET1 buffer development Quarter-on-quarter (bps) CET1 buffer development Year-on-year (bps) 35 44 480 8 28 29 20 Target buffer 100-300bps 410 28 17 640 171 66 157 113 22 22 Target buffer 100-300bps 10 70 17 410 Jun 2022 Profit, net of dividend Share buyback 1 Credit volume FX Asset quality Market risk Regulatory requirement 2 2022 Sep Sep 2021 Profit, net of dividend Share buyback 1 Credit volume FX Asset quality Market risk Regulatory requirement 2 2022 Sep Rísk exposure amount (REA) Rísk exposure amount (REA) 1 SEB has received supervisory approval to repurchase shares for up to SEK 2.5bn until the 2023 AGM, and has deducted this amount in full from the CET1 capital. 2 Per 29 September 2022, the countercyclical buffer requirement in Sweden increased from 0 to 1 per cent. SEB#3636 Strong capital position vs. requirements SEB's CET1 and total capital position vs requirements %, 30 Sep 2022 340bps 21.6 ● 410bps 18.1 Tier 2 AT1 1.7 18.2 1.8 1.0 14.0 2.5 0.6 1.0 MDA 2.5 4.0 0.6 CET1 18.1 2.0 4.0 1.4 8.0 4.5 CET1 capital CET1 capital ratio requirement Total capital ratio Own funds requirement • Minimum requirement Systemic risk P2 guidance P2 requirement Capital conservation buffer Countercyclical buffer CET1 capital buffer of 410bps above regulatory requirement and P2G, compared to target management buffer of 100- 300bps CET1 capital requirement at 14.0% (13.8) • P2R increased to 2.0% (1.8) while P2G lowered to 1.0% (1.5) Countercyclical buffer for Sweden raised to 1.0% in September 2022; to be raised to 2.0% in June 2023 Leverage ratio at 4.3% (4.3). The requirement and P2G is 3.45% The minimum requirement for total capital can be met by max 1.5% AT1 and 2.0% Tier 2 capital. The P2 requirement of 2.0% consists of 1.4% in CET1, 0.2% in AT1 (~10% of the P2R) and 0.5% in Tier 2 capital (~23% of the P2R) Other decided countercyclical buffers include: Norway from 1.5% to 2.0% in Q4 2022 and 2.5% in Q1 2023; Denmark from 0% to 1.0% in Q3 2022, to 2.0% in Q4 2022 and to 2.5% in Q1 2023; Lithuania from 0% to 1.0% in Q4 2023; Estonia from 0% to 1.0% as of Q4 2022; the UK from 0% to 1.0% in Q4 2022 and to 2.0% in Q4 2023. SEB#3737 Reasons for management capital buffer Sensitivity to currency fluctuations Impact of +5% SEK vs other currencies is 50bps on CET1 ratio 11% Sensitivity of Swedish pension surplus to interest rates SEK bn, Impact of -50 bps discount rate is -40bps on CET1 ratio* 60 50 50 42% 34% Share of credit risk REA EUR SEK USD INOK DKK GBP Other 40 30 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#3838 EBA stress test 2021 confirms SEB's robust capital position Year-end CET1 ratio under the Adverse scenario (%) Adverse scenario assumptions -cumulative GDP change (%) 16.9 16.7 SEB DNB SHB Volkswagen LF Bank 16.2 15.5 15.4 15.2 15.2 15.0 Swedbank KBC Nykredit 14.9 14.0 13.8 Belfius 13.7 CGD Pekao PKO Bank ABN Nordea 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 Rabobank 10.0 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 ᎠᏴ 7.4 BPM 7.0 Sabadell 6.5 HSBC CE 5.9 MPS NWB and BNG excluded, as not directly comparable banking model. -2.8 -3.3 Finland generation (%) Baseline scenario CET1 Norway -3.6 -4.1 EU Denmark -4.4 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 01 SEB in brief 02 Financial update 03 Credit portfolio and asset quality 04 Capital 05 Liquidity and funding 06 Strategy 2030 and sustainability 07 Macro 08 Appendix SEB#4040 Strong balance sheet structure with stable deposit base Strong balance sheet structure with deposits as primary source of funding 30 Sep 2022 Liquid assets Long-term stable development of deposit SEK bn Life insurance SEK 4,277bn Life insurance 2,000 1,500 1,000 Derivatives Derivatives 500 Client trading Client trading Short- term funding Funding <1y Cash & deposits CBs Funding >1y Liquidity portfolio Household deposits Household lending Corporate & public sector deposits Stable funding Long-term assets or "banking book" Corporate & public sector lending Assets Equity Liabilities 2007 2009 2011 2013 2015 Corporate deposits Public sector deposits Stable structural funding position Net Stable Funding Ratio (NSFR) 2017 2019 2021 Household deposits Non-bank deposits in Treasury 111% 110% 111% 111% 108% 110% 109% 31 Mar 2021 30 Jun 2021 30 Sep 2021 31 Dec 2021 31 Mar 2022 30 Jun 2022 30 Sep 2022 SEB#4141 Strong liquidity position Liquidity Coverage Ratio 200% 100% 0% Peer benchmarking: 3- and 12-months maturing funding ratio 3 months funding ratio 600% 400% 200% 0% Q2 2022 Q1 2022 ■SEB Q4 2021 Q3 2021 Peer 1 Q2 2021 Peer 2 Q1 2021 Q4 2020 Average Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 Liquid assets 30 Sep 2022, SEK 1,196bn Level 2 assets 12 months funding ratio 200% Other 150% I High quality covered bonds 100% Level 1 assets I Extremely high quality covered bonds Treasuries & other Public Bonds ■Cash & holdings in Central Banks 50% 0% Q2 2022 Q1 2022 SEB Q4 2021 Peer 1 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Peer 2 Peer 3 Average 1 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#4242 Diversified funding structure with deposits as primary funding source Funding sources 30 Sep 2022 12% 1% Loan to deposit ratio Excl repos 140% 10% 5% 3% 5% 15% 90% Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 49% Corporate deposits Household deposits Credit inst deposits Govmt & central bank deposits Covered bonds ■CP/CDs Senior debt Subordinated debt Lowest dependence on wholesale funding compared to peers Benchmarking Swedish banks' total funding sources incl equity 30 Jun 2022 Wholesale 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#4343 Well-balanced long-term funding profile and solid credit rating Long-term funding by product SEK 514bn equivalent 6% 8% 25% Maturity profile SEK bn 150 11% Covered bonds SEK I Covered bonds non-SEK SEB's credit rating Rating Institute Short term "Stand- alone rating" Long term Uplift Outlook Fitch F1+ aa- AA- 0 Stable Senior unsecured debt 50% Moody's P-1 a3 Aa3 3 Stable Senior non-preferred debt S&P A-1 a A+ 1 Stable Subordinated debt 100 60 10 22 10 19 11 19 10 10 15 50 15 12 Issuance history SEK bn 150 11 11 100 40 28 34 16 20 10 22 50 20 55 53 54 41 46 9 55 67 81 78 41 52 0 0 <1Y 1-2Y 2-3Y 3-4Y 4-5Y 5-7Y 7-10Y >10Y 2017 2018 2019 2020 2021 YTD 2022 1 Excluding public covered bonds. 2 Tier 2 and Additional Tier 1 issues assumed to be called at first call date. SEB#44Swedish implementation of MREL requirements according to BRRD2 MREL requirement vs current position 30 Sep 2022, % of REA CBR SEK 236bn 7.1% 7.1% Senior preferred debt SEK 307bn SEK 305bn 7.6% 5.4% Senior non- • preferred debt On 18 October 2021, the Swedish Resolution Authority published its new MREL policy under BRRD2 MREL requirement will be the higher of: 19.7% 23.1% 27.7% 27.7% 21.6% Own funds . Risk-based Leverage-based Risk-based Leverage-based Own funds & eligible liabilities Requirement 1 Jan 2024 Target 1 Jan 2022 Subordination requirement vs current position 30 Sep 2022, % of REA SEK 244bn SEK 238bn SEK 203bn 7.1% 5.4% Senior non- preferred debt CBR 7.1% 13.5% 23.1% 19.7% 27.7% 21.6% Own funds Risk-based Leverage-based Risk-based Leverage-based Own funds & eligible liabilities • - 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 48bn in senior non-preferred debt SEB#45SEB's covered bonds Moody's rating Total outstanding Aaa 55 45 Benchmark Outstanding covered bonds SEK bn 400 SEK 329bn 300 Benchmark 97% 200 Non Benchmark 3% 100 0 Maturity profile SEK bn 11 11 16 14 100% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Outstanding covered bonds - % in SEK vs non-SEK 53 75% 50 56 82% 42 51 50% 8 >1 y 6 25% 1-2 Y 2-3 Y 3-4Y 4-5 Y 18% 5-7 Y SEK Benchmark 7-10 Y >10 Y 0% NonSEK Benchmark Non Benchmark 2013Q3 2015Q1 2016Q3 2018Q1 2019Q3 2021Q1 Covered Bond SEK 2022Q3 Covered Bond Non-SEK SEB#4646 Cover pool characteristics: only Swedish residential mortgages in SEB's cover pool Cover pool 30 Sep 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019 . • Total residential mortgage assets (SEK bn) 714 688 653 613 Weighted average LTV (property level) 48% 47% 52% 51% Number of loans ('000) 762 766 759 737 Number of borrowers ('000) 431 437 432 428 Weighted average loan balance (SEK '000) 937 899 872 831 Substitute assets (SEK '000) 0 0 0 0 Loans past due 60 days (bps) 5 4 4 5 Net Expected Credit Losses (bps) 0 0 0 0 Overcollateralisation level 117% 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#4747 Cover pool characteristics: mortgages mainly in three largest and fastest growing city areas in Sweden Type of loans Interest rate type Geographical distribution Residential apt bldgs, 21% Single family, Fixed rate. reset 2y<5y, 15% Fixed rate reset =>5y, 1% Larger regional cities, 36% Stockholm region, 41% Tenant Floating (3m), 52% 52% owned apartments, 28% Fixed rate reset <2y, 32% Malmö- region, 8% Gothenburg region, 15% LTV distribution >75% 0% >25%<75% 70-75% 1% Prior ranking loans 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) Interest payment frequency Quarterly Monthly 95.1% 21% 79% SEB#4848 Short-term CP/CD funding to support client facilitation business Volumes: net trading assets adaptable to CP/CD funding access SEK bn 400 Net trading assets - CP/CD 300 200 100 0 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-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 50 -100 -250 -400 Sep-14 Sep-15 Sep-16 Days 40 80 120 160 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-22 Note: Net Trading Assets = Net of repoable bonds, equities and repos for client facilitation purposes SEB#4949 01 02 IN MY SEB in brief Financial update 03 Credit portfolio and asset quality Capital Liquidity and funding Strategy 2030 and sustainability 04 05 06 07 08 Appendix Macro SEB#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 52 42 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 -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 120bn decrease Share of credit portfolio 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 Sustainability-related lending Sustainable finance advisory Volume, indexed 100 2021 2025 1 Funds that have sustainable investments as its objective. 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#5444 54 The 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 1 Measured as share of credit exposure. + + + + + + Sustainable Paris aligned transition. Transition Gradual change Status quo SEB#5555 Strategy 2030: Investments 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#56Financial 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 56 1 To be viewed as long-term (5 year perspective) and will be updated based on other Nordic banks' performance. SEB#5757 01 02 IN MY SEB in brief Financial update 03 Credit portfolio and asset quality Capital Liquidity and funding Strategy 2030 and sustainability 04 05 06 07 08 Appendix Macro SEB#58Sweden: Inflation, interest rates and home prices are squeezing growth Sweden: GDP development Sweden: Consumer confidence 110.0- 110.0 130 107.5 107.5 120 105.0 105.0 110 Trend 102.5 102.5 100 90 100.0 - 100.0 SEB forecast 80 97.5 97.5 70 95.0 95.0 60 92.5 92.5 Consumer confidence 50 (NIER) (LHS) 90.0 Actual/forecast 90.0 40 -Household consumption (RHS) 2019 2020 2021 2022 2023 2024 SEB Nordic Outlook August 2022 58 1995 2000 2005 2010 2015 2020 10.0 7.5 5.0 2.5 0.0 -2.5 -5.0 -7.5 -10.0 SEB#5959 Sweden: Unusual wage round with bigger pay hikes expected Sweden: Unemployment % 9.5 Sweden: Nominal wages Year-on-year percentage change 9.5 5.0 5.0 9.0. SEB 9.0 4.5 4.5 forecast 8.5 8.5 4.0 4.0 8.0- 8.0 3.5 3.5 7.5 7.5 3.0 3.0 7.0 - 7.0 2.5 - 2.5 6.5 6.5 6.0- -6.0 2.0 2.0 SEB forecast 5.5 5.5 1.5 1.5 2010 2015 2020 2025 2005 2010 2015 2020 2025 SEB Nordic Outlook August 2022 SEB#6015.0 Sweden: Riksbank hiked by 50bps in June and 100bps in September with further hikes expected in next six months Sweden: Inflation CPIF, year-on-year percentage change 15.0-CPI Sweden: Interest rate outlook Repo rate, % 3.5. 12.5 -CPIF ex. energy SEB 12.5 3.0- -CPIF forecast 2.5 10.0 10.0 2.0 7.5 7.5 1.5- 5.0 5.0 1.0 2.5 2.5 0.5- SEB forecast 0.0 0.0 0.0 - -Riksbank rate path -2.5 -2.5 -0.5 -Market pricing 2019 2020 2021 2022 2023 2024 2022 2023 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 2024 SEB Nordic Outlook August 2022 60 SEB#6161 100 2015 2016 2017 2018 125 Home prices turning down following interest rate hikes 2019 2020 Sweden: housing prices and sentiment affected by higher interest rates and uncertainty Sweden: Home prices Valueguard HOX Index Jan 2015 = 100 3m 12m 150 Hox index -5.8% -7.3% Hox flats -4.5% -5.8% Hox houses -6.4% -8.1% Sweden: SEB's Housing Price Indicator Housing price sentiment survey 80 60 50 40 40 W 20 20 2021 2022 0 HOX -20 -HOX Flats HOX Houses -40 -60 2015 2016 2017 2018 2019 2020 SEB's Housing Price Indicator fell significantly in July 2022, but stabilised in the September and October suveys A negative number implies more respondents expecting house prices to fall while a positive number implies more respondents expecting house prices to rise SEB 2021 2022#6262 01 SEB in brief 02 Financial update 03 Credit portfolio and asset quality 04 Capital 05 06 07 08 Liquidity and funding Strategy 2030 and sustainability Macro Appendix SEB#6363 Operating leverage Average quarterly income (SEK bn) 15.3 13.9 12.512.7 9.4 9810410012 11.411 12 10.8 Average quarterly expenses (SEK bn) Average quarterly profit before ECL and imposed levies (SEK bn) 5.9 5.7 5.6 5.4 5.5 5.5 5.5 5.5 5.7 5.7 5.8 6.1 6.8 7.0 4.8 5.9 6.0 5.5 5.7 5.4 4.1 3.5 8.1 9.2 2011 2014 2017 2020 Jan-Sep 2022 2011 2014 2017 2020 Jan-Sep 2011 2014 2017 2020 Jan-Sep 2022 2022 Note: data exclude items affecting comparability. SEB#64Business 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 64 54 2010 2012 2014 2016 2018 2020 Jan-Sep 2022 2010 2012 2014 2016 2018 2020 Jan-Sep 2022 Net interest income Net fee & commission income Net financial income LC & FI Net other 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#6565 55 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 20.1 50% 49% 49% 19.3 19.0 19.3 46% 47% 46% 45% 17.6 60 42% 41% 40% 15.6 15.0 15.1 14.0 18% 19% 18% 17% 20 10% 15% 15% 15% 12% 12% 40 22.8% 20.6% 14.3% 20 14.3% 12.9% 13.3%12.5%11.7% 10.1%10.3%10.4% 13.0% 7.9% 5% 7% 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 2020-21: Restatement of organisational and income statement changes 84 209 305 413 472 535 594 652 713 765 813 854 895 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#6666 Corporate & Private Customers Stable lending growth in corporate segment Loans to corporates and real estate management, SEK bn 278 290 220 237 247 185 197 143 154 155 160 Trans- ferred to PWM& 250 FO Stable growth in household mortgages SEK bn 545 551 509 Trans- 382 404 418 431 449 483 459 ferred to 358 PWM& FO 530 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2022 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 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 2.1 0.44 0.42 0.44 2.0 1.9 2.0 2.0 2.0 0.40 1.8 1.8 40 1.4 22.3% 1.1 21.9% 21.4% 15.2% 15.0% 15.3% 14.8% 14.7% 20 13.9% 14.2% 15.5% 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2022 2020-2021: Operating profit and ratios restated for changes in organisation and income statement. Lending voliumes not restated for organisational change. 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#6767 Private Wealth Management & Family Office Asset under management SEK bn 1,295 1,094 1,101 1,143 994 934 890 887 844 744 659 Stable performance SEK bn Business equity (SEK bn) Return on business equity C/I Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 Solid operating profit Operating profit by quarter, SEK m Q2 2021 Q3 Q4 Q1 Q2 Q3 0.65 2021 2021 2022 2022 2022 0.59 0.58 0.56 0.54 0.53 0.54 0.51 475 285 249 259 272 260 256 227 228 226 217 0 Q1 2020 Q2 2020 Q3 2020 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2021 2021 2021 2022 2022 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. 0.53 26.6% 22.7% 20.5% 28.8% 26.3% 20.9% 24.3% 21.4% 22.3% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2022 SEB#6868 Baltic 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 0.52 Business equity 0.50 0.50 0.51 Return on business equity -C/I 0.44 6.4 6.0 6.9 7.2 7.7 8.1 10 5.5 5.2 5.1 5.0 5.2 0.41 0.40 0.39 0.40 0.35 24.4% 22.6% 24.5% 25.1% 18.6% 19.3% 5 12.9% 14.5% 16.8% 22.3% 8.6 8.7 8.6 8.6 9.4 10.3 10.8 10.6 10.9 10.7 11.0 9.7% 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2022 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021YTD 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#69Assets 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 2,682 2,106 2,100 2,041 2,018 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 30 Jun 30 Sep 2022 2022 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. 2,100 115 293 2,018 202 30 Jun 2022 Inflow Outflow Change in value 30 Sep 2022 SEB#70Shareholders and dividends Dividends paid - new dividend policy as of 2021: ~50% of net profit SEK bn 30 Total dividend Net profit ■Share buyback 25 45 20 20 15 10 5 30 Sep 2022 Investor AB Alecta Pension Insurance Swedbank Robur Funds AMF Insurance & Funds Trygg Foundation BlackRock Own shareholding Vanguard SEB Funds Harding Loevner SEB's largest shareholders Share of capital, per cent 20.9 5.8 4.6 4.3 4.2 2.7 2.4 2.3 2.3 1.9 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total share of foreign shareholders 26.5 DPS, 2.75 4.00 4.75 5.25 5.50 5.75 SEK Payout ratio 52% 59% 54% 66% 75% 70% 6,00+ 0.00 4.10+ 6.00 0.50 4.10 70% 0% Source: Euroclear Sweden/Modular Finance. 113% 51% 70 70 • A first 2.5bn share buyback program ran between Oct 2021-Mar 2022. A second SEK 2.5bn share buyback program ran between Mar-Oct 2022. A third SEK 1.5bn program is running between Oct-Dec 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#71Summary key financials YTD 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 1) Return on equity, % 2) 13.5 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) 40 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) 0.41 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) 120 145 163 218 147 145 168 128 115 129 ΝΑ NA Net Stable Funding Ratio (NSFR), % 109 111 CET1 ratio, % 7) Total capital ratio, % 7) Leverage ratio, % 7) 18.1 19.7 21.0 17.6 17.6 19.4 18.8 18.8 16.3 15.0 ΝΑ ΝΑ 21.6 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 18,091 21,847 12,022 10,428 7,734 8,046 6,859 7,196 6,763 5,958 5,191 4,490 2,018 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. 71#7272 IR contacts and calendar Financial calendar 2023 1 Jan 26 Jan Silent period starts Annual accounts 2022 1 March Annual and Sustainability report 2022 1 April Silent period starts 4 April Annual General Meeting Pawel Wyszynski Head of IR Employed in SEB since: 2020 Mobile: +46 70 462 21 11 E-mail: [email protected] Philippa Allard Senior IR Debt Employed in SEB since: 1998 E-mail: [email protected] Per Andersson Senior IR 26 April Quarterly report Jan - Mar 2023 Employed in SEB since: 1991 1 July 18 July 1 Oct Silent period starts Quarterly report Jan - June 2023 Silent period starts Mobile: +46 70 618 83 35 Mobile: +46 70 667 74 81 25 Oct Quarterly report Jan - Oct 2023 E-mail: [email protected] SEB#73Thank you for your attention. Positively shaping the future, with responsible advice and capital. Today and for generations to come. SEB