Investor Presentation - FY 2023

The disclaimer for the Climate Action Plan Progress Report 2023 applies to all information shown on this slide (see slide 62) Investor Presentation - FY 2023 Danske Bank Our Climate Action Plan Progress Report shows positive traction across our climate targets, though some sector targets do not follow the linear trajectory Below or within 5% above linear trajectory Lending 2030 sector emission intensity reduction targets 1 More than 10% above linear trajectory Life insurance & pension 5-10% above linear trajectory Asset management 2030 temperature rating reduction targets 6 Implied temperature rating of our investment products from 2.7°C in 2020 to 2.1°C (scope 1 and 2] Implied temperature rating of our investment products from 2.9°C in 2020 to 2.2°C [scope 1, 2 and 3) 2030 temperature rating reduction targets 6 Implied temperature rating of our listed equities and credits from 2.7°C in 2020 to 2.1°C (scope 1 and 2) Implied temperature rating of our listed equities and credits from 2.9°C in 2020 to 2.2°C [scope 1, 2 and 3) Own operations 2030 emission reduction targets 7 Carbon emissions in scope 1 and 2 80% Carbon emissions in scope 1, 2 and currently measured scope 3 categories 60% 20% 20% Highlights from Progress Report 2023 ☐ Decreasing absolute financed emissions - Measured emissions from our lending activities and investee companies (scope 1 and 2) have decreased from 16.2 million to 13.3 million tCO2e, corresponding to a ~18% reduction since 2020 Solid progress on lending emission reduction targets - Among our nine sector targets, five are transitioning faster than a linear trajectory towards our 2030 targets, whereas four are transitioning slower Some challenges in meeting Danica Pension's 2025 sector targets - Energy, transportation and utilities transitioning slower than expected; mitigating actions initiated in line with fiduciary duties Solid reduction of weighted average carbon intensity for investment products - We have seen a 46% reduction since 2020 and a decrease in our temperature rating scores across our Asset Management and Danica Pension portfolios Updated baseline - Due to updated methodologies, improved data and scope 3 emissions of investee companies not being included in this reporting due to large fluctuations that challenge the comparability of historical data, our 2020 baseline is 16.2 million tCO2e compared to the 41.1 million tCO2e reported in the Climate Action Plan from January 2023 10 1. Baseline year 2020, 2. Absolute emission reduction targets set, 3. Absolute emission reduction and carbon intensity targets, 4. Based on a weighted portfolio exposure across Denmark, Sweden, Norway and Finland. For activities in Denmark, the target corresponds to a 75% reduction by 2030, 5. Based on Poseidon Principles methodology, 6. Differences in targets between asset management and life insurance & pension reflect different starting points of the portfolios, 7. Baseline year 2019,8. 2030 target, 9. Automotive, aviation and shipping 10. See the Climate Action Plan Progress Report 2023 for details on not including the investee scope 3 emissions, methodology and data changes. 25 Oil and gas - exploration & 50% production 2 A Oil and gas. 25% downstream refining 3 Power 50% generation Steel 30% Cement 25% 2030 carbon intensity reduction target 1 2025 sector emission intensity reduction targets 8 Commercial 55% Weighted 50% Real estate 8 69% real estate 4 average Energy 15% Personal 55% carbon intensity 4 mortgages of investment Transportation 9 20% products 2030 sector alignment delta targets 1 Utilities 35% 2025 engagement target 1 Cement Engagement with the Shipping 5 0% 100 largest emitters Steel

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