Investor Presentation - FY 2022

Investor Presentation - FY 2022 Danske Bank's credit ratings Long-term instrument ratings Speculative grade Investment grade Fitch Moody's Scope S&P AAA Aaa AAA AAA AA+ Aal AA+ AA+ AA Aa2 AA AA AA- Aa3 AA- AA- A+ A1 A+ A+ A A2 A A A- A3 A- A- BBB+ Baal BBB+ BBB+ BBB Baa2 BBB BBB BBB- Baa3 BBB- BBB- BB+ Bal BB+ BB+ Fitch rated covered bonds - RD, Danske Bank Moody's rated covered bonds - Danske Mortgage Bank Scope rated covered bonds - RD S&P rated covered bonds - RD, Danske Bank, Danske Hypotek Counterparty rating Senior unsecured debt Non-preferred senior debt Tier 2 subordinated debt Additional Tier 1 capital instruments Credit ratings remain unchanged in Q4 2022 Credit ratings remain unchanged in Q4 2022. Danske Bank On 16 December 2022, S&P revised the outlook on Danske Bank to Stable from Negative as a consequence of the resolution of the Estonia case. Subsequent to the announcement of the resolution, also Fitch and Moody's affirmed their ratings and outlooks on Danske Bank Group. 47

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