Financial and Mortgage Portfolio Overview

Name of instrument Supervision Collateral type Segregation of collateral Repayment LTV limits Substitute collateral Protection against mismatching Covered bond framework comparison The Iceland framework is largely aligned with the main European jurisdictions Iceland Sértryggð skuldabréf Icelandic Financial Supervisory Authority (FME) Residential mortgage loans Mortgage loans backed by industrial, office or commercial properties Loans backed by agricultural properties Public sector loans Ring-fenced via registration on the issuer's balance sheet Soft bullet 80% for residential mortgage loans 60% for commercial mortgage loans 70% of for loans backed by agricultural property Up to 20% of the nominal value of the cover pool; FME can approve an increase up to 30% Nominal value and NPV of assets at least equal to outstanding covered bonds; payment obligations covered by inflows; maturity extension Germany Hypothekenpfandbriefe, Öffentliche Pfandbriefe, Schiffspfandbriefe, Flugzeugpfandbriefe German Federal Financial Supervisory Authority (BaFin) Residential mortgage loans Commercial mortgage loans Public sector loans Shipping loans Aircraft loans Ring-fenced via registration on the issuer's balance sheet Soft bullet 60% of mortgage lending value Up to 15% of outstanding covered bonds Nominal value and NPV of assets at least equal to outstanding covered bonds; 180-day liquidity requirements covered via liquid assets; maturity extension 2% Nominal (if mortgage / public sector loans) 5% Nominal (if shipping / aircraft loans) Norway Obligasjoner med fortrinnsrett (OMF) Financial Supervisory Authority of Norway (FSA) and the cover pool monitor Residential mortgage loans Commercial mortgage loans. Public sector loans Shipping loans Ring-fenced via registration on the issuer's balance sheet Hard and soft bullet 80% for residential mortgage loans 60% for mortgage loans backed by other properties Up to 15% of outstanding covered bonds Nominal value of assets at least equal to 105% of outstanding covered bonds; payment obligations covered by inflows; 180-day liquidity requirements covered via liquid assets; maturity extension 5% Nominal Sweden Säkerställda obligationer Swedish Financial Supervisory Authority (SFSA) and the independent inspector Residential mortgage loans Commercial mortgage loans Public sector loans Shipping loans Ring-fenced via registration on the issuer's balance sheet Hard and soft bullet 80% for residential mortgage loans 60% for commercial mortgage loans Up to 15% of outstanding covered bonds Nominal value and NPV of assets at least equal to 102% of outstanding covered bonds; payment obligations covered by inflows; 180-day liquidity requirements covered via liquid assets; maturity extension 2% Nominal/NPV Mandatory OC Voluntary OC is protected Premium Covered Bond Eurosystem eligibility ECB CBPP3 eligibility No mandatory OC requirement Yes up to limit approved by FME No Yes CBs issued prior to 8th July 2022 No CBs issued after 8th July 2022 No Source: ECBC Factbook 2021, National Covered Bond Frameworks 2% NPV Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes, depending on assets No 53 August-September 2022

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