Green Bond Framework Presentation

Nordea Deal Review - Inaugural EUR 500m Green Senior Preferred due June 2022 Timeline (CET) 19 June - 22 June 16 June Monday, 26 June 2017 Nordea announces RS for its inaugural Green Bond, EUR500m (no grow), intermediate tenor mandate. Roadshow Schedule Mon 19th Jun - London (EFC*) Tue 20th Jun London/Nordic Wed 21st Jun - Paris/Germany Thu 22nd Jun - Netherlands Allocations Investor type CBs & Ols, 13% Banks, 11% Key terms Issuer Expected rating Status Trade Settlement date Maturity date / Tenor Size Asset Reoffer Managers, 53% Insurance & Coupon Pension, 23% Listing Governing Law Use of Proceeds 09.40 Books open EUR500m (no grow), FXD, 5yr IPT's: MS+25 bps area Allocations Geography 11:40 Book Update #1 EUR books excess of €1,35bn Guidance MS+20a (+/-2bps WPIR) Books to go subject 12.55 CET 13% 12:55 Books Closed 13:15 Launched MS+18 bps 17:00 Priced EUR500m at MS+18bps Coupon 0.300% UK/Ire, BeNeLux, 13% Other, 10% France, 27% Nordics, 22% Ger/Aus, 15% Final book above EUR 1.3bn More than 100 accounts participating Joint Lead Managers Highlights • • • Nordea Bank AB (publ) Aa3/AA-/AA- (Moody's / S&P / Fitch) Direct, unsecured and unsubordinated 26 June 2017 / 30 June 2017 (T+4) 30 June 2022 / 5 years EUR 500m MS +18bps, Yield 0.323%, Price 99.886% 0.300%, Annual, Act/Act ICMA Luxembourg English law To finance Green Bond Assets that have been evaluated and selected by the Issuer pursuant to its Green Bond Framework dated June 2017 BNP Paribas, HSBC, Nordea Nordea's inaugural Green Bond represent an important step in Nordea's overall work on sustainability On the back of strong investor feedback from the roadshow, notably on Nordea's green bond framework and the strong pool of over EUR800m of green assets, Nordea opened books for the transaction with IPT's of MS+25bp. With books in excess of EUR 1.35bn by midday, the guidance was revised to MS+20a (+/-2bp WPIR) The books remained in excess of EUR1.3bn following the revised guidance, which allowed pricing in the tight end of guidance at MS+18bps The transaction represent the tightest spread for a EUR Senior Unsecured Green Bond to date, which is driven by the unique combination of Nordea's strong credit quality and the strength of Nordea's Green Bond framework. It is also the tightest spread offered on a 5 year Senior Unsecured issue in a decade The book included over 100 accounts, of which 72% dedicated green investors highlighting strong diversification to the traditional senior unsecured issue investor base * Environmental Finance conference in London Nordea

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