Investor Presentaiton

Reasons for management capital buffer 37 Sensitivity to currency fluctuations Impact of +5% SEK vs other currencies is 50bps on CET1 ratio Sensitivity of Swedish pension surplus to interest rates SEK bn, Impact of -50 bps discount rate is -40bps on CET1 ratio* 11% 43% 33% Share of credit risk REA EUR SEK USD NOK DKK GBP Other 60 60 50 50 40 50 30 20 20 10 0 2019 2020 2021 Pension liabilities ■Surplus *At current level of net pension assets, impact would be absorbed by surplus. ...& general macroeconomic uncertainties SEB

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