Investor Presentation - FY 2023

Investor Presentation - FY 2023 Danske Bank Overall strong credit quality in portfolios exposed to macro cyclicality CRE: Well diversified and prudently managed growth Housing: Low leverage and strong household finances ~80% of RD lending are 5-30yr fixed-rate Agriculture: Well-provisioned agriculture book DKK 295 bn in gross exposure and ECL ~1% DKK 62bn in gross exposure of which 51% RD Segment gross exposure Segment gross exposure RD lending ■Non-residential ■ Residential Property dev. Crops Dairy Pig breeding ■Mixed operations 52% 45% 3% 42% 36% 22% 35% 32% Avg. LTV RD-retail 50% - Country gross exposure 49% ■ DK ■ SE 25% 13% 8% 6% ■ NO ■ Fl ■LC&I / Other Conservative lending growth (-4% 4Y-CAGR in non- resi.] given caps and concentration limits within sub- segments and markets, as well as for single-names, limiting downside risks Due to our conservative approach, our SE exposure has remained stable, despite market growth, and book is well-diversified with lower concentration risk over the past years The Group's credit underwriting standards maintain strong focus on cash flows, interest rate sensitivity, LTV and the ability to withstand significant stress PMAs of DKK 1.9 bn made to cover uncertainties regarding the effect of rapid interest rate increases and macroeconomic situation - - - 18% 14% Country gross exposure 50% 0% 57% 13% 28% 0% 50% 100% 1% ■Fixed F5s Other LTV Home equity ■ DK SE NO ■ FI - LC&I / Other The credit quality of the portfolio has improved over the past few years, recovering from legacy exposures from the financial crisis The current credit risk appetite takes into account the volatility of the sector and remains in place Furthermore, the Group maintains strong underwriting standards on LTV, interest-only loans and interest rate sensitivity PMAs of DKK 0.8 bn have been made for potential future portfolio deterioration due to uncertainties such as African Swine Fewer (ASF) and the RU/UA war Avg. LTV remains at moderate level and have been supported over the past years by increasing house prices along with the call feature of DK mortgages Affordability measures in our approval process has been tightened, and debt-to-income (DTI) levels remain stable overall Portfolio uncertainty risks are being mitigated by continuous monitoring and review of underwriting standards covering interest rate-related stress of affordability and other measures Low near-term refinancing risk on RD flex loans PMAs related to personal customers total DKK 1.6 bn 41

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