Nordea Kredit Performance Update

Real estate management industry (REMI) Well diversified with high quality Distribution of REMI property types, EUR 30bn* Hotels Industrial 3% 7% Logistics 8% Other 10% 20 Retail 10% 23% Residential * Excluding tenant owners' associations (TOA) Office 39% Distribution of REMI by probability of default (PD), EURbn* 28 2 0 · Diversified portfolio Nearly two-thirds of portfolio consists of resilient office and residential properties Growing demand for properties supporting e-commerce and last- mile logistics 92% of exposure towards low- risk customers in Q2 • Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 0 PD 0.01%-PD 0.85%- PD 4.0%- PD 100% Nordea

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