Investor Presentaiton

Danske Bank Investor Presentation - First quarter 2023 Overall strong credit quality in portfolios exposed to macro cyclicality CRE: Well diversified and prudently managed growth DKK 294 bn in gross exposure and ECL ~1% Agriculture: Well-provisioned agriculture book Housing: Low leverage and strong household finances +80% of RD lending are 5-30yr fixed-rate DKK 63bn in gross exposure of which 58% RD Segment gross exposure ■ Non-residential ■ Residential Property dev. Crops Segment gross exposure Dairy Pig breeding RD lending ■ Mixed operations 54% 42% 4% 43% 38% 33% 35% 48% Country gross exposure 26% 12% 7% 7% Avg. LTV RD-retail 51% 18% 14% Country gross exposure 49% 0% 56% 13% 29% 0% 50% 100% 1% ■ DK ■ SE ■ NO ■ Fl ■LC&I / Other Fixed F5s Other ■LTV Home equity ■ DK ■ SE ■ NO ■ Fl ■LC&I / Other Conservative lending growth (-4% 4Y-CAGR in non- resi.] given caps and concentration limits within sub- segments and markets, as well as for single-names, limiting downside risks Due to our conservative approach, our SE exposure has remained stable, despite market growth, and book is well-diversified with lower concentration risk over the past years The group's credit underwriting standards maintain strong focus on cash flows, interest rate sensitivity, LTV and the ability to withstand significant stress. PMAs of DKK 1.8 bn made to cover uncertainties regarding the affect of rapid interest rate increases and macroeconomic situation The credit quality of the portfolio has improved over the past few years, recovering from legacy exposures from the financial crisis The current credit risk appetite takes into account the volatility of the sector and remains in place. Furthermore, the group maintains strong underwriting standards on LTV, interest-only loans and interest rate sensitivity ➤ Post-model adjustments of DKK 0.8 bn have been made for potential future portfolio deterioration due to uncertainties such as African Swine Fewer (ASF), Chinese imports and the RU/UA war Average LTVs have been decreasing over the past year supported by increasing house prices and call feature of DK mortgages Affordability measures in our approval process has been tightened, and debt-to-income (DTI) levels remain stable overall Portfolio uncertainty risks are being mitigated by continuous monitoring and review of underwriting standards covering interest rate-related stress of affordability and other measures Low near-term refinancing risk on RD flex loans. Post-model adjustments related to personal customers total DKK 1.5 bn 34

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