Investor Presentaiton

Investor Presentation - First half 2022 Three distinct methods for rating banks Rating methodology Danske Bank Danske Bank's rating Anchor SACP1 1 2 3 S&P Global Ratings Potential CRA adjustment2 Extraordinary SACP1 + external + support ALAC = Issuer rating bbb+ +1 +1 -1 1 Business Position, 2=Capital & Earnings, 3=Risk Position, 4-Funding & Liquidity a- +2 A+ (Negative) Quali- 2 + 3 + 4 + 5 + tative factors BCA³ + Affiliate support + LGF4 + Gov. support Issuer rating Macro profile + 1 + MOODY'S Strong Plus a3 al ba2 baa3 baa2 1=Asset Risk, 2=Capital, 3-Profitability, 4=Funding Structure, 5-Liquid resources -1 baa2 0 +1 +1 A3 (Stable) Operating environment + 1 2 3 + + 5 + 6 + 7 Viability Rating Support Rating Floor Issuer rating5 Fitch Ratings aa- a+ a a+ a a- a a+ 1=Company Profile, 2=Management/Strategy, 3-Risk Appetite, 4-Asset Quality, 5-Profitability, 6-Capitalisation, 7=Funding/Liquidity 1 Stand-Alone Credit Profile. 2 Comparable ratings analysis. 3 Baseline Credit Assessment. 4 Loss Given Failure. 5 Issuer rating is the higher of the Viability Rating and Support Rating Floor. a No Floor A [Stable) 50

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