Nordea Kredit Performance Update

Net loan losses and similar net result Net reversals and lower non-performing loans Net loan losses and similar net result Q2 2022, EURM 5 -45 -16 -56 Individual Modelled provisions collective Net loan losses MJ release Nordea Kredit fair value adj. Total and write-offs provisions Stage 3 loans and PD of total loans, % 2.0 0.80 0.75 1.5 0.70 1.0 0.65 0.5 0.60 0.0 0.55 Q221 Q321 Impairment rate, % Q421 Avg. PD, % Q122 Q222 17 • - Net loan losses and similar net result amounting to reversals of EUR 56m (6bp) Very low new provisions - Continued reversals from Shipping and Oil, gas and offshore portfolio restructuring - Weaker macro-economic outlook incorporated in provisioning models Management judgement buffer reduced by EUR 45m to EUR 565m Credit risk related to COVID-19 assessed as reduced Continued strong credit quality and further decrease in non- performing loans Nordea

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