Fourth-quarter Financial Highlights 2023

Asset & Wealth Management Positive net flow momentum maintained in internal channels despite market uncertainty Total income down 6%, driven by lower net insurance result due to decreasing forward interest rates and lower third- party fund distribution fee income Assets under management up 5%, to EUR 378bn Internal channel inflows of EUR 1.9bn during quarter Institutional and wholesale distribution outflows of EUR 3.9bn Cost-to-income ratio 50%, driven by inclusion of Nordea Pension and investments in nearshoring and risk management Cost-to-income ratio*, % • Total income, EURm -6% 350 356 365 354 328 • 73 73 74 81 80 255 246 245 242 244 8 14 14 23 37 79 -1 2 Q422 Q123 Q223 32. Q323 Q423 Net interest income Net fee and commission income Net insurance result Net fair value result and other Assets under management, EURbn +7pp +5% 378 359 362 363 360 43 39 39 40 Q422 50 50 Q123 Q223 Q323 Q423 Q422 Q123 Q223 Q323 Q423 Nordea 16 * With amortised resolution fees

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