Q4 2023 Financial Update

Macro environment Our home markets: Sweden GDP development Indexed Q4 2019 = 100 67 115 105 95 Key ratios Sweden 2022 2023 2024 2025 GDP growth (%) 2.6 -0.4 0.1 2.8 -Sweden Euro area CPIF (%) 7.7 6.0 1.9 1.9 Public debt/GDP 32.8 31.4 33.0 33.5 Unemployment 1 7.5 7.6 8.6 8.7 85 Q4-2019 Q3-2020 Q2-2021 Q1-2022 Q4-2022 Q3-2023 Inflation CPIF excl. energy, annual growth rate 12% 10% 8% 6% 4% 2% 0% 2019 2020 -Sweden 2021 Euro area 2022 Policy rates Central bank policy rates and market pricing 6% 4% 2% 0% -2% Jan-22 Unemployment as a per cent of labour force. Source: OECD database, Eurostat, Macrobond, SEB Nordic Outlook January 2024. Riksbank policy rate ECB deposit rate Market pricing Oct-22 Jul-23 Apr-24 Jan-25 Oct-25 SEB

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