Kommuninvest Investor Presentation

Kommuninvest Investor presentation Explicit & unlimited guarantee from members STRONG ✓ Municipalities and county councils cannot be declared bankrupt and cannot cease to exist Swedish municipalities and county councils levy taxes The government ultimately responsible for the local governments STABLE ✓ No Swedish local government has ever defaulted on a payment commitment Sweden's Supreme Administrative Court confirmed the right of local government to sign the joint and several guarantee in a 1994 ruling IMMEDIATELY ENFORCEABLE ✓ Investors can make a claim on any, or all, of the guarantors without a court order ✓ All debt guaranteed by Swedish local governments is BIS 0% risk-weighted in the EU area = 18

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