First Quarter 2022 Investor Presentation

Sweden: firm housing market Sweden: Home prices Index Aug 2017 = 100 Sweden: Housing starts 1000's 140 130 17.5 120 15.0 110 12.5 100 10.0 90 7.5- 80 5.0 140 130 120 110 100 90 80 70 70 60 60 82% 2014 2015 2016 2017 2018 2019 2020 2021 - Total Valueguard Houses, Valueguard -Flats, Valueguard Home prices at new highs, houses most important driver Indicators suggest continued firm momentum in the near term 62 SEB Nordic Outlook March 2022 17.5 15.0 12.5 10.0 7.5 5.0 2.5 2.5 0.0+ 0.0 1995 2000 2005 2010 2015 2020 - Single family homes Multi-dwelling buildings - Total Housing starts close to peak levels from 2017 SEB

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