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Investor Presentaiton

Investor Presentation - First quarter 2023 Danske Bank's credit ratings Long-term instrument ratings Speculative grade Investment grade Fitch Moody's Scope S&P AAA Aaa AAA AAA AA+ Aal AA+ AA+ AA Aa2 AA AA AA- Aa3 AA- AA- A+ A1 A+ A+ A A2 A A A- A3 A- A- BBB+ Baal BBB+ BBB+ BBB Baa2 BBB BBB BBB- Baa3 BBB- BBB- BB+ Bal BB+ BB+ Fitch rated covered bonds - RD, Danske Bank Moody's rated covered bonds - Danske Mortgage Bank Scope rated covered bonds - RD S&P rated covered bonds - RD, Danske Bank, Danske Hypotek Counterparty rating Senior unsecured debt Non-preferred senior debt Tier 2 subordinated debt Additional Tier 1 capital instruments Danske Bank Credit ratings remain unchanged in Q1 2023 S&P, Fitch and Moody's all have a stable outlook on Danske Bank. Following the market turmoil caused by the failures of Silicon Valley Bank and Credit Suisse among others, rating agencies have focused in particular on funding, liquidity and deposits. Danske Bank is well placed to meet all regulatory and rating agency requirements. 48
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