Fourth-quarter Financial Highlights 2023

Financial target Sustained structurally higher profitability Return on equity, % 21 ~11% 2021 Operating Cost of Capital performance risk ~17% >15% 2pp increase 1 2 from CMD 2022 3 2023 Operating Cost of Capital performance risk 2025 target Drivers for improved 2025 target 1 2 3 Focused and profitable growth; operational efficiency Net interest income resilience - Drive ancillary income growth Maintain strict cost discipline Loan losses normalising · 2021-2023 very low - Normalised run rate ~10bp Capital excellence Normalisation of regulatory requirements and REA increase from retail models and Basel IV Equity build to remain at target level - Continued capital returns, supported by high capital generation Nordea

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