Nordea Kredit Performance Update

Business Banking Continued strong income growth driven by high customer activity Total income, EURm +10% 644 682 715 710 635 . Total income up 10% Lending volumes up 7%, driven by Sweden and Norway Strong growth in net fair value result, driven by high customer demand for FX and IR hedging products • Continued strong credit quality Improvement in cost-to-income ratio, now 42% . 405 395 416 440 445 153 161 170 164 161 -86 79 96 −111 104 Q221 Q321 Q421 Q122 Q222 Net interest income Net fee and commission income Net fair value result and other Lending*, EURbn 43 93 94 93 4 +7% 99 97 99 96 Cost-to-income ratio**, ** % -3pp 48 45 45 45 42 42 42 Q221 Q321 Q421 Q122 Q222 Q221 Q321 Q421 Q122 Q222 * Excluding FX effects ** With amortised resolution fees Nordea

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