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Investor Presentaiton

Danske Bank Investor Presentation - First quarter 2023 Fossil fuels (coal, oil and gas) exposure Key points, Q1 23 The current exposure to fossil fuels and includes customers involved in production, refining, and distribution (including shipping) of oil and gas as well as utilities producing heat or power with coal Exposure towards oil majors (upstream oil and gas) has decreased 25% from 01 last year and exposure is down by 62% compared to end 2020. The exposure development is aligned with the Group's 2030 climate target of reducing financed emissions by 50% from oil majors. The main risk on oil related exposures lies with exposures other than oil majors, and since Q1 last year, these net exposures have been brought down 13% and are down by 30% from end 2020 Exposures shown on this page is to utility customers with any coal-based power production [DKK 30.7 bn.] and hereof more than 5% of revenues from coal fired power production (2.6 bn.). Exposures have been somewhat volatile the past year, due to short-term facilities to help customers manage market risk due to energy price volatility, and net exposures are now 6% lower than a year ago Customers' transition plans are continually being assessed, and our customers in the distribution and refining segments and utility customers are generally progressing well on the transition. For instance, by refineries switching to biofuels or by gas stations investing in infrastructure for charging of electric vehicles. Also, for most customers, the use of coal is limited to a few remaining production facilities which are expected to phase-out towards 2030 Group gross credit exposure (DKK 2,575bn] Fossil fuels exposure Oil-related net credit exposure development, DKK bn. Segment Net exposure (DKK m) Of which covered by collateral Offshore and services Oil Majors Crude, gas and product tankers 2,945 8.4 30% 2.0% Distribution and refining Oil-related exposure Oil majors 9,161 9,907 7.1 2,695 Offshore and services 5,870 Power and heating utilities 30,715 with any coal-based production Hereof customers with more than 5% revenue from coal 2,620 Fossil fuels exposure ■ Other Total fossil fuel exposure 62% 5.9 2.7 3.5 51,386 2020 04 2022 Q1 2022 02 2022 03 2022 04 2023 01 36
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