Investor Presentation - FY 2023

Investor Presentation - FY 2023 Danske Bank Strong income uplift supported by NII; recovery in trading and insurance despite impact from one-offs; strong credit quality underpins low impairments Key points 2023 vs 2022 Strong uplift in profitability (+96%) driven by higher income and lower costs and impairments - - NII up 39% benefiting from higher rate environment Fee income resilient despite normalisation of corporate credit demand and low housing market activity Trading and Insurance income benefited from better financial markets Costs under control as efficiencies mitigate inflationary pressure Strong credit portfolio underpinning low loan impairments Tax rate lower than anticipated due to one-offs during the year Key points 0423 vs 0323 Net profit uplift (+8%) supported by fee income recovery, higher trading and insurance income, and reversals of impairments NII trending up when adjusted for one-offs. Q/Q trend impacted by deposit pass-through and migration effects Fee income recovered further due to DCM activity and investment fees, also benefiting from booking of performance fees in AM Costs increased due to expected seasonality (holiday allowance and bonus] Loan impairments led to reversals based on workout cases while credit quality remained strong Income statement and key figures (DKK m) 2023 2022 Index 0423 0323 Index Net interest income 35,000 25,108 139 9,134 9,326 98 Net fee income 11,707 12,590 93 3,148 2,867 110 Net trading income 3,704 1,875 198 757 174 435 Net income from insurance business 1,472 280 526 550 233 236 Other income 562 1,936 29 238 431 55 Total income 52,445 41,789 125 13,827 13,031 106 Operating expenses 25,414 26,478 96 6,592 6,204 106 Profit before loan impairments 27,031 15,311 177 7,235 6,827 106 Loan impairment charges 262 1,568 17 -32 322 Profit before tax, core 26,769 13,743 195 7,267 6,505 112 Profit before tax, Non-core -87 -13 669 -32 -30 Profit before tax 26,682 13,730 194 7,235 6,475 112 Tax 5,420 2,883 188 1,470 1,156 127 Estonia matter & goodwill impairment 15,427 Net profit (excl. Estonia matter & GW] 21,262 10,848 196 5,765 5,319 108 13

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