SEB Nordic Outlook

Swedish implementation of MREL requirements according to BRRD2 On 18 October 2021, the Swedish Resolution Authority published its new MREL policy under BRRD2 MREL requirement will be the higher of: MREL requirement applicable 1 January 2024 vs current position 30 September 2021, % of REA SEK 258bn 6.6% CBR SEK 281bn 10.3% 4.0% Senior debt SNP debt - Risk-based: 2 x (P1+P2R) + CBR - Ccyb + P2G - Leverage-based: 2 x Minimum Leverage ratio (3%) Subordination requirement will be the higher of: - Risk-based: 2 x (P1+P2) Leverage-based: 2 x Minimum Leverage ratio (3%) Combined Buffer Requirement (CBR) is added on top of risk-based MREL and risk-based subordination requirements Requirements will be phased in, with full compliance no later than 1 January 2024 27.7% Risk based 28.4% 23.0% Total capital Leverage based Own funds and eligible liabilities Subordination requirement applicable 1 January 2024 vs current position 30 September 2021, % of REA 6.6% CBR 19.7% SEK 214bn 28.4% SEK 203bn 4.0% SNP debt 23.0% Total capital Risk based Leverage based Own funds and subordinated liabilities SEB

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