Investor Presentaiton

Funding strategy • Covered bond programme was created in early 2012 in order to diversify funding sources and to form a reliable and cost effective funding channel · Since the launch of the programme both EUR- and SEK- denominated covered bonds have been issued totalling EUR 1 257 M outstanding Bank of Åland has also issued senior unsecured to maintain a balanced funding mix Themes 2018-2019 • • Demand conditions and the market situation favour issuance in covered bonds Issuance in Senior unsecured will be affected of the upcoming MREL-guidelines and requirements for the bank. 37 37 ALANDSBANKEN

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