Housing Market and Credit Assessment

Nordea covered bond operations Q1 2022 Four aligned covered bond issuers with complementary roles Nordea Eiendomskreditt Nordea Hypotek Nordea Kredit Nordea Mortgage Bank Legislation Cover pool assets Cover pool size* Covered bonds outstanding* OC Issuance currencies Norwegian Swedish Norwegian residential mortgages Swedish residential mortgages primarily EUR 20.5bn (eq.) EUR 10.8bn (eq.) EUR 63.4bn (eq.) EUR 34.4bn (eq.) 120% NOK Rating (Moody's / S&P) Aaa/ - Included in Nordea Green Framework Yes 84% SEK Aaa / - Yes Issued Green CB's Yes (inaugural issue in 2021) • Covered bonds are an integral part of Nordea's long term funding operations . Issuance in Scandinavian and international currencies + Danish Danish residential & commercial mortgages Balance principle EUR 61.1bn (eq.) 7% DKK, EUR -/AAA Yes Yes (inaugural issue in 2019) Finnish Finnish residential mortgages primarily EUR 23.8bn EUR 20.7bn 15% EUR, GBP Aaa / - Yes COVERED BOND LABEL 4. All Nordea covered bond issuance entities (MCIs) are covered by Nordea's updated 2021 green bond framework *: The figures for Nordea Kredit only include capital center 2 (SDRO). Nordea Kredit no longer reports for CC1 (RO), as this capital center only accounts for a minor part (<1%) of the outstanding volume of loans and bonds in Nordea Kredit Nordea

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