Nordea Kredit Performance Update

Second-quarter highlights 2022 Executive summary Continued growth in lending volumes, strong performance in corporate sector Mortgage volumes up 6% y/y, SME lending up 7% y/y and large corporate lending up 16% y/y. Assets under management down 9% q/q Higher income and increased operating profit despite market turbulence Net interest income up 6%, net fee and commission income down 5% and net fair value result up 1% - Operating profit up 2% compared with record levels in Q2 2021 Cost-to-income ratio* 49% - costs excluding regulatory fees down 1% Strong credit quality - EUR 45m released from COVID-19 management judgement buffer Net loan losses and similar net result amounting to reversals of EUR 56m or 6bp during quarter Return on equity* 13.3% and earnings per share EUR 0.28 EUR 4.5bn distributed to shareholders YTD and new EUR 1.5bn share buy-back programme launched CET1 ratio increased to 16.6% -6.3pp above regulatory requirement Outlook maintained: return on equity above 11% expected for 2022, supported by cost-to-income ratio of 49-50% 6 * With amortised resolution fees Nordea

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