Investor Presentation - FY 2023

Investor Presentation - FY 2023 Danske Bank Expenses: Dedicated cost management resulting in 4% decline in cost base Y/Y; well on track to deliver on 2026 C/I target Highlights - Total costs down 4% Y/Y. Continued progress on efficiency as underlying costs (adj. for one-offs in 22) were kept flat despite Expenses (DKK m) 26,478 - - - - inflationary pressure Legacy remediation and financial crime costs remained elevated, as planned, through the year Cost base Q/Q impacted by seasonality effect in staff costs, performance-based compensation and transformation costs Other costs lower due to reduced premises, amortisation and consultancy spend 2024 cost outlook characterised by ramp up in investments 2024 cost outlook [DKK bn] ~0.9 ~-0.8 25.4 FY 23 Cost measures mitigate inflation ~1.2 ~-1.0 26 26.5 ~0.6 Reallocation of resources to invest in growth New HQ and PC NO divestment Inflation Cost Reduced Investment (wage etc.) efficiencies remediation in business -910 -86 27 569 -548 -69 18 25,414 -64 FY22 One-offs Transfor- mation Financial Crime Plan comp. Staff costs Perf. based Legacy Resolution remediation fee Other FY23 32 190 210 27 6,204 190 -199 6,592 One-offs FY 24E 0323 One-offs Transfor- mation Financial Crime Plan Staff costs Perf. based Legacy comp. remediation Resolution fee Other 0423 17

View entire presentation