Fourth-quarter Financial Highlights 2023

Fourth-quarter highlights 2023 Executive summary Continued high-quality income growth Net interest income up 19%, net fee and commission income down 3% and net fair value result down 61%. Total income up 1% Return on equity* 15.9% excluding write-offs; earnings per share EUR 0.31 Volumes stable in slow market - Mortgage lending stable and corporate lending up 1% y/y. Retail deposits stable y/y and corporate deposits down 3%. AuM up 5% y/y Cost-to-income ratio excluding regulatory fees and write-offs: 42% Strong credit quality, continued low net loan losses - overall provisioning levels maintained - Net loan losses and similar net result EUR 83m or 10bp - lower reversals at this stage of cycle Management judgment buffer EUR 495m after EUR 74m transferred from structural buffer to collective provisions, as planned Strong capital generation and dividend increase - CET1 ratio 17% - 4.9pp above current regulatory requirement. Dividend of EUR 0.92 per share proposed for 2023 - increase of 15% 2025 target updated: return on equity above 15% - 2024 outlook: return on equity above 15% 3 With amortised resolution fees Nordea

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