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Investor Presentation Financial results Q3 2026
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Danske Bank 2 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours 2 Danske Bank – brief overview Forward ’28 strategy Financial highlights Business & Product Units Credit Quality & Impairments Capital Funding & Liquidity ESG, Sustainability, Financial Crime Prevention Credit & ESG Ratings Tax & Material one-offs Contact info Contents 03 – 11 10 – 12 13 – 19 20 – 23 24 – 31 32 – 35 36 – 40 41 – 47 48 – 52 52 – 55 55 Investor Presentation – Q32026
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Danske Bank 3 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 3 Danske Bank - a brief overview
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Danske Bank 4 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours We are a focused Nordic bank with strong regional roots Note: Share of Group lending is before loan impairment charges and excludes Large Corporates & Institutions (19%), Asset Finance (3%) and Global Private Banking (4%) * Asset Management in LC&I. Investor Presentation – Q32026 Norway (AAA) Challenger position Share of Group lending: 4% GDP growth 2026E: 1.0% Unemployment 2026E: 2.3% Leading central bank rate: 4.50% Denmark (AAA) Market leader Share of Group lending: 45% GDP growth 2026E: 4.0% Unemployment 2026E: 3.1% Leading central bank rate: 2.10% Finland (AA+) 3rd largest Share of Group lending: 9% GDP growth 2026E: 1.8% Unemployment 2026E: 10.5% Leading central bank rate: 2.50% Sweden (AAA) Challenger position Share of Group lending: 12% GDP growth 2026E: 2.8% Unemployment 2026E: 8.6% Leading central bank rate: 1.75% Northern Ireland (AA) Market leader Share of Group lending: 4% DKK >1,000bn* Assets under Management DKK >1,100bn Deposits DKK ~1,800bn Loans & Mortgages
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Danske Bank 5 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours 2024 2025 Forecast 2026 Forecast 2027 GDP Growth 3.9% 3.5% 4.0% (3.7%) 3.0% (2.5%) Inflation 1.4% 1.9% 1.5% (1.5%) 2.2% (2.4%) Unemployment 2.9% 2.9% 3.1% (3.1%) 3.5% (3.6%) Policy rate* (Current: 2.10%) 2.6% 1.6% 2.60% (2.10%) 2.35% (1.60%) House prices 4.7% 6.0% 8.5% (7.5%) 4.5% (4.0%) Nordic Outlook September 2026: New sources of growth Parentheses are the previous projections (From June 2026). *: End of period Source: Danske Bank, Statistics Denmark, Nationalbanken 2024 2025 Forecast 2026 Forecast 2027 GDP Growth 1.9% 1.6% 2.8% (2.1%) 2.5% (2.4%) Inflation 1.9% 2.6% 1.4% (1.1%) 3.0% (2.6%) Unemployment 8.4% 8.8% 8.6% (8.5%) 7.9% (7.8%) Policy rate* (Current: 1.75%) 2.5% 1.75% 2.00% (2.25%) 2.50% (2.00%) House prices 2.1% 1.1% 3.9% (4.4%) 5.1% (5.2%) 2024 2025 Forecast 2026 Forecast 2027 GDP Growth 0.6% 1.7% 1.0% (1.0%) 1.7% (1.5%) Inflation 3.2% 3.0% 3.0% (3.1%) 2.3% (2.1%) Unemployment 2.1% 2.1% 2.3% (2.3%) 2.4% (2.4%) Policy rate* (Current: 4.50%) 4.5% 4.0% 4.50% (4.5%) 3.75% (3.50%) House prices 3.0% 5.9% 3.3% (4.0%) 6.0% (7.0%) 2024 2025 Forecast 2026 Forecast 2027 GDP Growth 0.9% 0.8% 1.8% (1.1%) 2.1% (0.8%) Inflation 1.6% 0.3% 2.0% (1.9%) 2.1% (1.8%) Unemployment 8.4% 9.7% 10.5% (10.5%) 9.9% (10.1%) Policy rate* (Current: 2.50%) 3.0% 2.0% 3.00% (2.50%) 2.75% (2.00%) House prices -3.3% -2.5% -2.7% (-2.8%) 1.3% (1.0%) Source: Danske Bank Nordic Outlook updated 3 rd Sep. 2026. Statistics Norway, Norwegian Labour and Welfare (NAV), Norges Bank Source: Danske Bank, Statistics Finland, EKP Source: Danske Bank, Statistics Sweden, Riksbanken Sweden Finland Norway Denmark Investor Presentation – Q32026 5
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Danske Bank 6 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours DK SE NO FI Eurozone DK SE NO FI Eurozone DK FI NO SE Macroeconomic development and outlook in the Nordics Source: Statistics Denmark, Statistics Norway, Statistics Sweden, Statistics Finland and Eurostat GDP development (%) Unemployment (%) House prices (index 100=2006) Debt to GDP (%) Household debt (% of disp. income) Household interest (% of disp. income) DK SE NO FI Eurozone DK NO SE FI DK NO SE FI Investor Presentation – Q32026 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 50 100 150 200 250 300 6 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 -8 -6 -4 -2 0 2 4 6 8 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2 4 6 8 10 12 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 10 20 30 40 50 60 70 80 90 100 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2 4 6 8 10 12 14 80 100 120 140 160 180 200 220 240 260 280 2006 2010 2015 2020 2027
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7Danske Bank Executive summary: Solid financial performance driven by good commercial activity and strategic execution Q3 25 Q2 26 Q3 26 1,062 1,799 1,135 1,852 1,139 1,866 +7% +4% Deposits Lending* *Nominal lending adjusted for fair value effects of RD loans. 954 Q3 25 Q2 26 Q3 26 1,117 1,126 +18% AuM Commercial highlights Key figures (DKK bn) Resilient commercial activity Corporate lending growth +5% Y/Y, underpinning market shares across the Nordics Asset management net inflow in Q3 of DKK +5bn from both Private Banking and mass retail Q3 26 Cost/income ratio 43.9% Original F’28 target for 2026: ~45% Q3 26 net profit DKK 6.4 bn - ROE 15.1% Original F’28 target for 2026: 13% 2026 net profit outlook range narrowed to DKK 24 – 25bn ➢ Good operating environment and macro backdrop in the Nordic countries underpin commercial activity ➢ Solid financial performance with core income up 9% Y/Y. Q3 net profit of DKK 6.4 bn reflecting growing core income, disciplin ed cost management and sustained strong credit quality with net reversal of impairments ➢ Growth in nominal lending notwithstanding seasonal effects. Deposit momentum coupled with c ontinued uplift in net inflows, which supports AuM ➢ Strong capital position with CET1 capital ratio increasing to 17.2%, as capital generation remains strong after dividend accr ual. Regulatory requirements reduced by 40 basis points following confirmed Pillar 2 release ➢ Net profit guidance range for 2026 narrowed to DKK 24 – 25bn. The revised outlook is underpinned by higher total income from solid commercial activity, policy rates and improved FY impairment guidance of DKK <0.6bn Q3 25 Q2 26 Q3 26 13.7 12.6 15.2 13.4 14.7 13.7 +8% +9% Total income Core income Financial highlights for Q3 Investor Presentation – Q32026
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Danske Bank 8 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank’s strong and liquid balance sheet underpins our resilient business model * Based on regulatory definition. E.g., Stable deposits include fully insured retail deposits to customers with full relation ship at Danske Bank. Operational deposits is from Corporate depositors as part of clearing, custody and cash management business Diversified and stable deposit base Strong liquidity position 2023 2024 2025 Q326 Total bank deposits (DKK bn) 1,140 1,095 1,110 1,140 of which Stable deposits* 373 363 354 358 of which Operational deposits* 307 299 294 313 Stable & Operational, % of bank deposits 60% 60% 58% 59% Danske Bank has a sound funding structure and remains very well capitalised with a prudent CET1 capital buffer to the current regulatory requirements. Further, our liquidity is underpinned by a significant cash position and a liquidity coverage ratio (LCR) of 163%, well above minimum requirements Diversified and solid deposit mix that includes a retail base where the majority is covered by the Nordic guarantee schemes. Fully-funded pass-through mortgage structure in Denmark provides a structural deposit surplus Long-Term wholesale funding: At Q3 2026, we have issued around DKK 86 billion. For full year 2026, our funding plan is 90 -110bn Sound funding structure (DKK bn) 75 100 125 150 175 200 Q419 Q420 Q421 Q422 Q423 Q424 Q425 Q326 75 100 125 150 175 200 LCR spot LCR 12m-avg. %8% Retail Nordic 22% Retail DK 24% Business Customers 6% Global Private Banking 10% Northern Ireland 28% LC&I Investor Presentation – Q32026 8 736 736 341 243 718 166 736 736 341 243 718 166 Loans Funding Senior & NPS bonds Bank loans Deposits Bank mortgages Covered bonds RD mortgages Issued RD bonds 1,795 2,285 1,140
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Danske Bank 9 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Our strategic approach to sustainability enables us to capture commercial opportunities, while also managing material risks and impacts Investor Presentation – Q32026
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Danske Bank 10 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 10 Forward ’28 strategy Danske Bank on track to fulfill its 2028 ambitions
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11Danske Bank Strengthening our position as a focused Nordic leader with strong profitability and leading digital solutions Targets for 2028 >14.5% Return on Equity DKK ~63 bn total income ≤43% Cost-to-Income ~16% CET1 capital ratio Capital distribution Accelerated transition to new CET1 capital target with extraordinary dividend of DKK 5 bn in Q1-2026 Revised ordinary dividend policy of 60–70% Total dividend potential1 of above DKK 55 bn in 2026-28 Ambition for further distribution and share buy backs – subject to capital position, growth and market conditions ➢ Redesign core journeys and processes to improve the customer experience ➢ Continue diligent cost discipline ➢ Accelerate productivity gains by scaling GenAI solutions ➢ Continue strong capital generation, ensuring consistent capital distribution over time ➢ Proactive capital planning and allocation to support growth, regulatory resilience, and distribution ➢ Maintain resilient risk and compliance management ➢ Continue to grow in focus segments across the Nordics, building on strong momentum in LC&I, Mid- corporates, Private Banking and Affluent ➢ Continue to deepen customer relationships, with a focus on growing ancillary income Growth across segments and markets High productivity across organisation Strong capital generation & risk mgmt. 1. Dividend potential reflects highest end of new ordinary dividend policy and the announced DKK 5bn extraordinary dividend. Investor Presentation – Q32026
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Danske Bank 12 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Forward ’28 - Strategic targets Personal Customers Business Customers LC&I Increase in number of customers with business volumes above DKK 1 mn Of all customer inquiries handled by AI CAGR in total customer assets (deposits, investments) CAGR in Daily Banking fees across BC & LC&I Of credit cases utilizing GenAI-powered insights* Net new customers with advanced and international needs CAGR in Daily Banking fees across BC & LC&I Additional new customers across all markets CAGR in investment net sales across retail and institutional channels Strategic targets for Business Unit for ’28 (vs. 2025) +10% >50% >5% +5% 75% ~800 +5% +60 +5% Growth across segments and markets Continue to grow in focus segments across Nordics, building on strong momentum in LC&I, Mid- corporates, Private Banking and Affluent Continue to deepen customer relationships, with a focus on growing ancillary income High productivity across organization Redesign core journeys and processes to improve customer experience Continue diligent cost discipline Accelerate productivity gains by scaling GenAI solutions Continue strong capital generation, ensuring consistent capital distribution over time Proactive capital planning and allocation to support growth, regulatory resilience, and distribution Maintain resilient risk and compliance management Strong capital generation & risk mgmt. Investor Presentation – Q32026 *For cases eligible for GenAI support, implicating exclusion of those handled solely by automatic model decisions Lending growth p.a. 12
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Danske Bank 13 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 13 Financial highlights
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14Danske Bank Strong financial performance in the core lines and cost management in line with plan ➢ 9M 26/9M 25: Total income supported by growing core income with NII and fee income underpinned by customer activity and growing volumes. Trading income impacted by value adjustments from financial market volatility. Insurance income supported by solid insurance results, while Other income benefitted from 231m one-off booked in Q226 ➢ Q3 26/Q2 26: Growing NII supported by deposit margins and higher yield on equity base, more than offsetting higher funding costs and the impact on structural hedge. Fee income underpinned by activity-driven fees and assets under management, driving stable Q/Q development despite seasonality. Trading and insurance income lower after market-related rebound in Q2 ➢ Continued cost management in line with guidance. Strong credit quality and well- provisioned portfolio leading to below- cycle CoR YTD and net reversal in Q3 Highlights 9M 26 9M 25 Index Q3 26 Q2 26 Index Net interest income 28,280 27,157 104 9,607 9,332 103 Net fee income 12,048 10,568 114 4,073 4,058 100 Net trading income 1,479 2,362 63 397 693 57 Net income from insurance business 1,359 1,097 124 508 689 74 Other income 695 428 162 146 385 38 Total income 43,861 41,613 105 14,731 15,157 97 Operating expenses 19,386 18,990 102 6,463 6,518 99 Profit before loan impairments 24,475 22,622 108 8,268 8,638 96 Loan impairment charges 65 258 25 -200 291 - Profit before tax 24,410 22,364 109 8,468 8,348 101 Tax 6,133 5,634 109 2,078 2,147 97 Net profit 18,277 16,730 109 6,390 6,201 103 Income statement (DKK m) Investor Presentation – Q32026
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Danske Bank 15 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours NII: Solid NII underpinned by positive trend in volumes, deposit margins and stability derived from structural hedge * Structural hedge income includes benefits from our bond and derivatives portfolio and fixed rate assets, net of the development in the yield on shareholders’ equity at Danske Bank A/S. **Adjusted for non-recurring item. ***Yield trends arethe annualised net interest income on lending/deposits as a percentage of average lending/deposits for the period. They include effects from FX, volumes and other interest-related items, incl. structural hedge NII 9M26 vs 9M25 (DKK m) NII Q326 vs Q226 (DKK m) Net lending yield*** (%) Net deposit yield*** (%) 0.0 0.5 1.0 1.5 0.85 1.17 1.03 Q322 0.62 1.09 0.92 0.59 0.94 1.00 Q323 1.03 Q324 1.11 0.71 0.68 0.98 0.99 0.61 Q325 0.66 0.95 1.09 Q326 PC BC LC&I 1.20 Growing NII trajectory +4% Y/Y from improved volumes and structural hedge contribution, providing stability in light of Central Bank rates Quarterly trend highlights solid trajectory of NII underpinned by increased deposit margins on the back of higher rates Structural hedge impacted by higher short-term rates net of income from shareholder equity base. The notional of the structural hedge (bonds + derivatives) was kept stable in Q3 at around DKK 190bn Other primarily include Treasury’s FTP allocation framework which has no impact on Group level NII NII sensitivity revised: Year 1: DKK +400m/-550m (per 25bps move up/down). Additional impact in years 2 and 3 of DKK +350m/-250m and DKK (+/-)100m, respectively, all else equal 0.0 0.5 1.0 1.5 2.0 2.5 3.0 2.18 1.94 0.56 2.68 Q323 2.50 2.13 0.600.48 2.44 2.12 0.26 0.64 Q324 2.18 1.81 0.76 0.53 1.92 1.58 0.460.31 2.12 1.68 Q322 0.56 2.32 Q325 0.61 Q326 PC BC LC&I 1.61748 Lending volume 9M26FX & Day effect 219 Other (incl. Treasury) -1,045 Structural hedge* 239 27,157 28,280 Deposit margin 564 Deposit volume 582 Lending margin -181 9M25 +4% Highlights Q226 21 Lending volume 20 102 FX & Day effect Q326 22 Structural hedge* -55 Deposit margin 128 Deposit volume 36 Lending margin 9,332 9,607 Other (incl. Treasury) +3% Investor Presentation – Q32026
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Danske Bank 16 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Fee income: Strong fee income up 14% Y/Y driven by all fee categories and solid customer activity; stable performance Q/Q despite seasonal slowdown Everyday banking fee income (e.g. transfers, accounts) Customer demand for FX and cash management solutions underpin development in everyday banking fees Lending and guarantee fee income Y/Y: Increase in customer activity continued to drive corporate credit demand Q/Q: Lower income in Q3 primarily due to seasonality, including lower refinancing volumes for adjustable rate mortgages Capital markets fee income Y/Y: Solid activity in DCM Investment fee income Y/Y: Strong growth in AuM, underpinned by positive net sales across segments and rising asset prices Q/Q: Investment fee income supported by record high AuM of DKK 1,126 bn due to favourable market developments and growing net inflows Highlights Net fee income (DKK m) 364 652 9M 25 342 Everyday banking Lending and guarantees 122 Capital Markets Investment fees 9M 26 10,568 12,048 +14% 134 Q2 26 -12 Everyday banking -105 Lending and guarantees -2 Capital Markets Investment fees Q3 26 4,058 4,072 0% Investor Presentation – Q32026
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Danske Bank 17 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Trading income: Lower customer activity in secondary fixed income markets and negative fair value effects in Group Treasury Highlights LC&I Y/Y: Result primarily driven by lower customer activity in fixed income market making Q/Q: Better customer activity in FX trading was more than offset by lower trading income from fixed Income amid a seasonally slower Q3 Group Functions Fluctuations related to unrealised market value adjustments of cross currency swaps and other balance sheet movements that result in accounting volatility in Group Treasury Net trading income (DKK m) 9M 25 -570 LC&I ex. xVA -20 xVA 11 PC and BC -29 Northern Ireland -276 Group Functions 9M 26 2,362 1,479 -37% 693 397 Q2 26 -181 LC&I ex. xVA -3 xVA 23 PC and BC -8 Northern Ireland -127 Group Functions Q3 26 -43% Investor Presentation – Q32026
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Danske Bank 18 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Expenses: In line with FY guidance of DKK 26 – 26.5bn; continued strategic investments following the F’28 strategy plan Cost/income ratio for Q3 2026 at 43.9% and for 9M 2026 at [44.2%] Cost trajectory in line with full-year guidance Y/Y: Lower FCRP and remediation costs offset higher staff costs. The latter driven by performance-based compensation and severance Strategic investments in digital tools and technology platform as guided in Forward ’28 strategy continue to enable AI agenda and growth Number of Group FTE slightly down from Q2 FY2026 cost outlook reiterated: Range of DKK 26 – 26.5 bn, with C/I ratio below 45% Highlights Expenses (DKK m) 173 Q2 26 -22 -109 Staff costs -55 Financial Crime Remediation Plan -11 Legacy remediation -32 Resolution fee & bank tax Digital investments & other Q3 26 6,518 -131 6,463 -1% 381 9M 25 248 43 Staff costs -186 Financial Crime Remediation Plan -179 Legacy remediation 89 Resolution fee & bank tax Digital investments & other 9M 26 18,990 291 19,386 +2% Performance based comp., and severance Investor Presentation – Q32026
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Danske Bank 19 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Financial outlook for 2026: Net profit guidance range narrowed from DKK 23 – 25bn to DKK 24 –25bn * Note – The outlook is subject to uncertainty and depends on volume growth and financial markets/macroeconomic conditions Income We expect total income to be somewhat above DKK 59 billion driven by higher core banking income from higher customer activity, growing volumes, and recent policy rate hikes Income from trading and insurance activities remains subject to financial market conditions Expenses We expect operating expenses in the range of DKK 26 – 26.5 billion in 2026, reflecting our growth ambitions and continued investment spend alongside a sustained focus on cost management Cost/Income ratio expected to be below 45% Net profit* We now expect net profit to be in the range of DKK 24 – 25 billion range, reflecting a return on equity target of above 14% in 2026 Impairments Loan impairment charges now expected to be no more than DKK 0.6 billion, below our normalised loan loss ratio of ~8bps, as a result of continued strong credit quality Investor Presentation – Q32026
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Danske Bank 20 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 20 Business & Product Units
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Danske Bank 21 Business units: Customer activity across segments drives resilient income and profitability Personal Customers Business Customers Large Corporates & Institutions 4,484 5,003 4,959 +11% 3,627 3,826 3,826 +5% 4,332 4,691 4,664 +8% 398 412 412 683 690 692 Q325 Q226 Q326 +4% +1% Deposits Lending Highlights Q3 26 ➢ Income growth driven by higher customer activity and fee income from everyday banking activity ➢ Strong development in corporate offering leading to lending and deposit volume growth ➢ Higher income vs. Q3 25 driven by customer activity and higher deposit effects ➢ ROAC above target supported by total income and loan impairment reversal ➢ Total income supported by lending volume growth and strong results in asset management ➢ Momentum across financing and advisory activities, underpinned by DCM franchise with constructive bond issuance activity 33 39 40 20 21 23 25 22 22 33 39 40 20 21 23 25 22 22 * 2026 ROAC targets for PC, BC, LC&I are 29%, 21%, 18% respectively 248 271 274 709 735 744 Q325 Q226 Q326 +10% +5% 283 312 320337 353 354 Q325 Q226 Q326 +13% +5% Total income (DKK m) ROAC (%) Lending** & deposit volumes (DKK bn) 2026 target* ** Nominal lending adjusted for fair value effects of RD loans. Investor Presentation – Q32026
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Danske Bank 22 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Business units: Growth in Northern Ireland; better insurance result drives satisfactory net income in Danica Investor Presentation – Q32026 Net income at Danica amounted to DKK 1,359 million, up by 24% in the first nine months of 2026 relative to the first nine months of 2025 The insurance service result increased to DKK 794 million (from DKK 256 million in for the first 9 months of 2025). The increase was also linked to a positive result in the health and accident business The net financial result decreased to DKK 534 million from DKK 803 million in first 9 months of 2025, reflecting less favorable financial market developments, which had a negative effect on the investment result Result Q326 vs Q226 (DKK m) Northern Ireland Lending growth driver of improved result The first 9M of 2026 saw profit before tax of DKK 1,828 million in 9M 2026 vs. DKK 1,606 million in the same period last year. The underlying financial performance reflecting strong income and balance sheet growth alongside continued low loan impairments Net interest income increased to DKK 2,751million (Q1-Q3 2025: DKK 2,487 million), driven by a combination of lending growth of 6%, growth in deposits of 3% and hedging actions taken in response to higher UK interest rates Profit before imp. (DKK m) Danica Lending (index) Q326 Q226 508 689 656 604656 604 Q326 Q226 106 101106 101 Y/Y Q/Q Net income Q326 Q226 11,965 13,600 Gross Premiums 22
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Danske Bank 23 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Realkredit Danmark portfolio overview: Continued strong credit quality 1. In addition, we charge 30 bp of the bond price for refinancing of 1- and 2-year floaters and 20 bp for floaters of 3 or more years (booked as net fee income) Investor Presentation – Q32026 Portfolio facts, Realkredit Danmark, Q326 Approx. 265,600 loans (residential and commercial) Average LTV ratio of 47% (46% for retail, 52% for commercial) We comply with all five requirements of the supervisory diamond for Danish mortgage credit institutions 612 loans in 3- and 6-month arrears (Q126: 606) 5 repossessed properties (Q226: 6) Around 1% of the loan portfolio has an LTV above 80% DKK 66bn of the loan portfolio is covered by government guarantee LTV ratio limit at origination (legal requirement) Residential: 80% Commercial: 60% Highlights Total RD loan portfolio of FlexLån® F1-F4 Retail loans, Realkredit Danmark, Q326 (%) Retail mortgage margins, LTV of 80%, owner-occupied (bps) 75 72 69 67 64 69 71 73 77 93 93 93 98 113 113 113 121 126 125 123 131 132 131 75 72 69 67 64 69 71 73 77 93 93 93 98 113 113 113 121 126 125 123 131 132 131 Q1 9% Q2 9% Q3 8% Q4 8% Q1 9% Q2 9% Q3 9% Q4 10% Q1 12% Q2 11% Q3 12% Q4 12% Q1 14% Q2 14% Q3 14% Q4 15% Q1 16% Q2 9% Q3 16% Q4 17%16% 17% Q2 17% Q3Q1 2021 2022 2023 2024 Stock of loans: DKK 396 bn (391 bn) New lending: DKK 17bn (16 bn) 38% (38%) 62% (62%) Fixed rate (10 yrs-30 yrs) Variable rate (6m-10 yrs) 60% (59%) 40% (41%) Interest-only Repayment 33% (32%) 67% (68%) 63% (69%) 37% (31%) ( ) = Q226 97 92 72 51 97 92 72 51 1-2 yrs 3-4 yrs 5 yrs+ Fixed rate Repayment Interest-only Adjustable rate1 117 112 92 71 117 112 92 71 1-2 yrs 3-4 yrs 5 yrs+ Fixed rate2025 2026 Total RD Flexlån F1-F4 (DKK bn) Total FlexLån® F1-F4 share of total RD loan portfolio in pct 23
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Danske Bank 24 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 24 Credit quality & Impairments
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Danske Bank 25 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Asset quality: Strong credit quality and prudent macro scenarios Impairment charges by category (DKK m) Allowance account by stages (DKK bn) Diversified and low-risk credit portfolio underpins strong credit quality and drove net reversals of impairments in Q3. Full-year impairment guidance lowered to be no more than DKK 0.6bn Macroeconomic charges remain modest. Scenarios reflect ongoing geopolitical uncertainty consisting of a severe and prolonged adverse impact PMAs stand at DKK 5.2bn, with some reallocation to Agriculture given potential political reform. Our prudent approach remains in light of geopolitical uncertainties and potential disruption. Total overlay kept at almost 30bps, equivalent to almost 4yrs of normalised impairments 2020 2021 2022 2023 2024 0.4 2025 0.4 Q1 26 Q2 26 Q3 26 5.9 5.4 5.3 5.2 5.2 4.0 6.4 6.3 6.6 6.7 0.9 1.6 1.0 1.0 0.7 0.7 0.8 1.0 0.6 1.0 1.6 0.8 0.9 0.5 1.0 1.6 2019 0.9 0.5 0.8 0.5 1.6 0.8 0.9 0.5 0.8 0.5 1.5 0.9 Agriculture CRE Construction and building materials Personal Customers Others Global tensions 0 5 10 15 20 25 30 0 5 10 15 20 25 30 0.0 0.5 1.0 1.5 2.0 2023 2024 7.5 2025 7.1 Q1 26 7.1 Q2 26 6.9 Q3 26 20.4 22.6 21.9 19.6 20.2 19.9 19.7 19.5 18.8 18.5 5.9 13.2 2.3 7.4 12.9 2.7 6.8 12.4 3.3 8.1 8.3 3.6 9.1 3.2 7.6 1.3 2.9 9.3 3.0 9.4 2.9 8.79.1 8.7 2019 2020 2021 2022 7.5 3.0 Stage 1 ECL Stage 2 ECL Stage 3 ECL Stage 3 net exposure, % of total (rhs) %DKK bn Highlights Post-model adjustments (DKK bn) Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 -337 -107 50 217 -8 35 -26 291 -200 Credit quality deterioration PMAs Macro models Investor Presentation – Q32026
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Danske Bank 26 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours IFRS9 macro scenarios: Prudently capturing a severe downside scenario Base (50%) Upside (25%) Downside (5%) Severe downside (20%) Q3 26 scenarios Denmark 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 GDP 4.0 3.0 1.9 1.9 4.0 3.2 2.4 2.7 3.9 1.7 1.5 2.5 -3.4 -2.0 0.0 0.0 Industrial Production 7.2 5.4 2.9 2.9 7.2 5.7 3.5 3.7 7.1 4.0 2.6 3.7 -5.1 -3.0 0.0 0.0 Unemployment 3.1 3.5 3.5 3.5 3.1 3.4 3.3 3.1 3.1 3.9 4.0 3.8 6.9 7.9 8.1 8.1 Inflation 1.5 2.2 2.0 2.0 1.5 2.4 2.4 2.2 1.9 4.6 2.5 1.1 4.0 3.0 2.0 2.0 Consumption Expenditure 1.9 2.1 2.2 2.2 1.9 2.2 2.4 2.5 1.8 1.1 1.5 2.4 -4.1 -2.3 -1.0 -1.0 Property prices - Residential 8.5 4.5 2.5 2.5 8.5 5.5 4.5 3.5 8.5 1.5 0.5 3.5 -19.7 -11.0 -6.0 -6.0 Interest rate - 3 month 2.7 2.7 2.1 2.1 2.6 2.8 2.6 2.6 2.7 3.2 2.6 2.4 3.9 4.7 3.4 3.4 Interest rate - 10 year 2.9 2.9 2.9 2.9 2.9 2.9 2.9 3.0 3.0 3.2 3.1 3.0 3.2 3.0 2.7 2.7 Sweden 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 GDP 2.8 2.5 2.0 1.8 2.8 2.8 2.6 2.6 2.7 1.5 1.2 2.3 -3.5 -3.4 -0.8 -0.8 Industrial Production 2.0 2.0 2.0 2.0 2.0 2.4 2.9 3.3 2.0 0.8 0.9 3.2 -5.3 -5.1 -1.2 -1.2 Unemployment 8.6 7.5 7.1 7.0 8.6 7.4 6.8 6.7 8.6 7.6 7.3 7.2 9.4 10.3 10.7 10.7 Inflation 1.4 2.7 2.2 2.0 1.4 2.8 2.4 2.1 1.7 4.2 2.6 1.7 4.9 3.9 2.9 2.9 Consumption Expenditure 2.7 2.9 2.0 1.6 2.7 3.1 2.4 1.8 2.6 1.8 1.1 2.0 -4.6 -4.2 -2.7 -2.7 Property prices - Residential 3.9 5.1 5.0 5.0 3.9 6.1 6.0 6.0 3.9 2.1 3.0 6.0 -22.0 -13.0 -7.0 -7.0 Interest rate - 3 month 2.3 2.5 2.5 2.5 2.2 2.6 3.0 2.9 2.3 3.0 3.0 2.7 4.8 5.6 4.3 4.3 Interest rate - 10 year 3.0 3.2 3.2 3.2 3.0 3.1 3.2 3.3 3.2 3.7 3.6 3.1 3.7 3.5 3.2 3.2 Norway 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 GDP 1.0 1.7 1.7 1.5 1.0 1.8 2.1 2.0 0.9 1.0 2.2 2.9 -2.7 -1.1 0.6 0.6 Industrial Production 2.0 3.0 2.0 2.0 2.0 3.2 2.6 2.7 1.9 2.5 2.4 2.7 -4.1 -1.7 0.9 0.9 Unemployment 2.3 2.4 2.4 2.3 2.3 2.4 2.3 2.1 2.3 2.4 2.5 2.3 5.5 6.4 6.5 6.5 Inflation 3.0 2.3 2.2 2.1 3.0 2.4 2.3 2.1 3.2 3.8 2.3 1.5 4.5 3.0 2.0 2.0 Consumption Expenditure 1.0 3.0 2.0 2.0 1.0 3.1 2.2 2.1 0.9 2.2 1.8 2.4 -4.4 -1.7 -0.5 -0.5 Property prices - Residential 3.3 6.0 6.0 3.0 3.3 7.0 7.0 4.0 3.3 4.0 4.0 4.0 -19.0 -13.0 -7.0 -7.0 Interest rate - 3 month 4.5 3.8 3.3 3.3 4.5 3.8 3.5 3.5 4.6 4.3 3.8 3.5 4.7 5.2 4.3 4.3 Interest rate - 10 year 4.2 4.2 4.2 4.3 4.2 4.1 4.1 4.3 4.4 4.6 4.4 4.1 4.7 4.5 4.2 4.2 Finland 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 GDP 1.8 1.4 1.2 1.2 1.8 1.7 1.7 1.8 1.8 0.6 0.5 1.5 -2.4 -2.0 -0.1 0.0 Industrial Production 2.0 3.0 2.5 2.3 2.0 3.4 3.1 2.9 2.0 1.9 1.6 3.1 -3.6 -3.0 -0.2 -0.2 Unemployment 10.5 9.9 9.2 8.1 10.5 9.8 9.0 7.9 10.5 9.9 9.4 8.3 12.0 13.0 13.0 13.0 Inflation 2.0 2.1 2.0 2.0 2.0 2.2 2.2 2.1 2.3 4.1 2.8 1.5 4.0 3.0 2.0 2.0 Consumption Expenditure 1.2 0.5 1.4 1.4 1.2 0.8 1.8 1.5 1.1 -0.6 0.8 1.8 -2.3 -2.4 0.2 0.2 Property prices - Residential -2.7 1.3 2.5 2.5 -2.7 2.3 4.5 3.5 -2.7 -0.7 0.5 3.5 -14.2 -7.0 -5.0 -5.0 Interest rate - 3 month 2.7 2.7 2.1 2.1 2.6 2.7 2.6 2.6 2.7 3.2 2.6 2.4 4.0 4.8 3.5 3.5 Interest rate - 10 year 3.5 3.4 3.4 3.4 3.4 3.3 3.4 3.5 3.6 3.8 3.6 3.6 3.8 3.6 3.3 3.3 Investor Presentation – Q32026
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Danske Bank 27 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours 30 9 7 6 4 4 4 4 2 2 2 2 2 1 1 1 1 1 1 1 1 Personal customers Commercial and residential real estate Non-profit housing Public institutions Financials Services Utilities and infrastructure Capital goods Consumer goods Construction and building materials Pharma and medical devices Agriculture Pulp, paper and chemicals Retailing Automotive Metals and mining Social services Shipping Telecom and media Transportation Oil and gas Hotels, restaurants and leisure 13 30 9 7 6 4 4 4 4 2 2 2 2 2 1 1 1 1 1 1 1 1 1% Lending by segment1 Q3 26 (%) Credit exposure by industry Q3 26 (%, rounded) Strong regional footprint and diversified balance sheet 1Total lending before loan impairment charges, excl. repos. 9% 4% 22% 3% 18% 4% Personal Customers DK Personal Customers outside of DK Private Banking Business Customers DK Asset Finance LC&I General Banking LC&I Other Northern Ireland Total credit exposure DKK 2,828 bn Total lending DKK 1,795 bn Investor Presentation – Q32026 of which residential (6%) 24% 27 15% Business Customers outside DK
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Danske Bank 28 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours 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 PMAs of DKK 0.9 bn have been made for potential future portfolio deterioration including uncertainties not visible in the portfolio such as diseases and implications from green transition Avg. LTV remains at prudent level and has been generally supported over the past years by the trend in house prices along with the call feature of DK mortgage loans Affordability measures in our approval process remain prudent, 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 Total PMAs related to personal customers of DKK 0.8 bn Conservative lending growth (around -2% 5Y-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 developed prudently, 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 0.9 bn to cover uncertainties regarding the effect of rapid interest rate increases and macroeconomic situation Overall strong credit quality in portfolios exposed to macro cyclicality CRE: Well diversified & prudently managed portfolio Agriculture: Well-provisioned agriculture book Housing: Low leverage, strong household finances DKK 340 bn in credit exposure and ECL ~1% DKK 58bn in gross exposure of which 53% RD Around 70% of RD lending are 5-30yr fixed-rate 48% 27% 12% 8% 4% DK SE NO FI LC&I / Other 50% 48% 2% Non-residential Residential Property dev. Segment gross exposure Country gross exposure 58% 16% 0% 1% 25% DK SE NO FI LC&I / Other 36% 20% 14% 30% Crops Dairy Pig breeding Mixed operations Segment gross exposure Country gross exposure 38% 32% 30% 0% 50% 100% Fixed F5s Other 47% 53% LTV Home equity RD lending - retail Avg. LTV RD-retail Investor Presentation – Q32026 28
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Danske Bank 29 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Commercial property: Prudently managed and cash-flow based underwriting standards; sound credit quality & adequate buffers in place to mitigate tail risks *Source: Companies’ interim report. Exposure definitions differ among banks between total lending, credit exposure and EaD. Danske Bank has a relatively low concentration to non-residential CRE compared with Nordic peers. The portfolio has been slightly increasing, but at a slower pace than the general corporate book, due to concentration limits and stringent underwriting standards, particularly towards the non-residential segment In addition to conservative underwriting, we perform rigorous monitoring of exposures, incl. stress tests: An interest rate stress of 2-3% pts on top of the borrower’s current avg. interest rate for debt not hedged Significant stress assessment of rent and vacancy rates The portfolio is well diversified and well provisioned to mitigate a potential material correction in the sector Danske Bank’s CRE portfolio avg. LTVs Danske Bank’s CRE allowance account (DKK bn) Lending to CRE segment by major peer banks (index)* CRE share of total portfolio by major peer banks*Highlights Denmark Sweden Norway Finland 56% 53% 55% 52% 46% 48% 53% 41% Residential Non-residential 80 90 100 110 120 130 140 150 160 Q326Q325Q325Q323Q323Q321Q320Q319Q318Q317 6% 4% 6% 5% 5% 13% 11% 7% 8% 8% 9% 13% 12% 20% Danske Peer1 Peer2 Peer3 Peer4 Peer5 Peer6 Commercial Residential 0 1 2 3 4 5 2021 2022 2023 2024 2025 Q3 2026 2.0 Allowance account Of which PMAs Investor Presentation – Q32026 Danske Bank Peer bank 1 Peer bank 2 Peer bank 3 Peer bank 4 Peer bank 5 Peer bank 6 29
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Danske Bank 30 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Key points for Q3 2026 ▪ The Group monitors its exposure to activities across the fossil fuel value chain, referred to as high-carbon energy supply financing. At the end of Q3 2026, high-carbon energy supply financing accounted for 1% of the Group’s credit exposure and remained relatively stable during the quarter ▪ Since the end of 2020, exposure towards (upstream) exploration and production of oil and gas has decreased by 98%. The minor increase during the year is related to factoring agreements linked to the oil service segment ▪ Customers in the high-carbon energy supply segment have generally started on their transition. Examples include refineries shifting towards biofuels and fuel stations investing in electric vehicle charging infrastructure ▪ The exposures shown on this page relate to utility customers with any coal-based power production, including those deriving more than 5% of revenues from coal-fired power production. The list of customers with coal-fired power production is reviewed regularly and adjusted accordingly. For most customers, coal use is limited to a few remaining production facilities, which are expected to be phased out towards 2030 Investor presentation – Q32026 High-carbon energy supply financing and power generation Group credit exposure Oil-related net credit exposure development Note: *The historical net credit exposure has not been adjusted to reflect for the technical adjustment made in Q2 2026 and i s therefore excluded from the exposure development overview. Q1 2026 figures are included for transparency, but quarter-on- quarter changes should be interpreted with caution. High-carbon energy supply and power utilities High-carbon energy supply segment Net credit exposure (DKK m) Q3 2026 Q2 2026 Crude, gas and product tankers (shipping) 7,502 7,047 Exploration and production (E&P) of oil and gas 168 142 Refining 4,413 4,370 Offshore and services 10,716 10,705 Wholesale and retail 8,663 8,157 Total 31,461 30,421 Power and heating utilities with any coal-based production Total 15,734 14,048 Hereof customers with more than 5% revenue from coal 1,382 1,413 1.0% 0.5% High-carbon energy supply financing Power and heating utilities with any coal-based production Other 7,055 3,802 2,741 2,615 1,792 21 21 142 168 Q4 '20 Q4 '21 Q4 '22 Q4 '23 Q4 '24 Q4 '25 Q1 '26 Q2 '26 Q3 '26 DKK m.
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Danske Bank 31 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours 0 1 2 3 4 5 6 7 8 9 10 11 12 5.9% 0 1 2 3 4 5 6 7 8 9 10 11 12 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q420 Q421 Q422 Q423 Q424 0.8% Q326 Credit quality: Remains strong Stage 2 and 3 as % of net exposure Stage 2 allowance account and exposure (DKK bn) Allowance account by business unit (DKK bn) Gross stage 3 loans (DKK bn) Allowance account Gross credit exposure Allowance account as % of gross exposure Personal customers 1.1 770 0.14% Agriculture 0.7 58 1.28% Commercial property 0.9 338 0.28% Shipping, oil and gas 0.03 51 0.10% Services 0.0 110 0.30% Other 4.0 1247 0.30% Total 6.9 2,573 0.27% 24.5 22.9 22.6 23.5 22.7 22.8 22.8 21.4 21.1 20.9 20.0 9.5 9.5 9.1 9.1 9.6 9.6 9.3 9.4 9.4 8.7 8.7 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 34.0 32.4 31.7 32.6 32.3 32.4 32.1 30.7 30.5 29.6 28.7 Individual allowance account Net exposure 5.0 5.1 5.0 4.7 4.7 4.6 4.7 4.5 4.3 4.1 3.9 11.2 11.2 10.9 10.8 10.6 10.3 10.2 9.8 9.4 9.3 9.0 3.2 3.3 3.4 3.7 4.1 4.4 4.1 4.7 5.0 4.6 4.8 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 20.3 20.5 20.2 20.0 20.1 20.2 19.8 19.8 19.5 18.8 18.5 PC BC LC&I N.I. Stage 3 net exposure (% of Total, rhs) Stage 2 net exposure (% of Total, lhs) Investor Presentation – Q32026 31
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Danske Bank 32 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 32 Capital
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Danske Bank 33 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Capital ratios (%) Capital: Strong capital base with CET1 ratio of 17.2% Current capital buffer structure (%) CET1 development (%) Total REA (DKK bn) Investor Presentation – Q32026 33 2023 1.3 2024 0.9 2025 Q3 2026 Regulatory requirement 23.1 22.4 20.9 21.3 19.0 2.5 1.8 18.8 3.3 17.8 2.7 17.3 2.7 1.3 17.2 2.7 2.0 14.3 CET1 AT1 Tier 2 At the end of September 2026, the trigger point for MDA restrictions was 14.3% 0.6 Q3 2026 14.3 2.0 2.5 3.0 1.6 4.5 Systemic risk buffer Countercyclical capital buffer Capital conservation buffer SIFI buffer (O-SII) CET1 Pillar II requirement CET1 minimum requirement CET1 target (around 16%) CET1 Q3 2026 (17.2%) 3 Q226 -4 Credit risk 0 Counterparty risk Market risk Q326 848 847 14.7 Q2 26 0.0 REA 0.2 Net profit after ord. dividend (70%) 0.0 FX & other deductions 14.3 Q3 26 17.0 17.2 2.4 3.0
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Danske Bank 34 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours REA, CET1, profit and distribution (DKK bn; %) Common Equity Tier 1, 2010 – 2026 (DKK bn) Strong CET1 capital generation and build-up of reserves 1. The decline in CET1 capital in 2018 is due mainly to Danica Pension’s acquisition of SEB Pension Danmark which led to a higher deduction in Group regulatory capital. 2. Before goodwill impairment charges 3. Based on year-end communicated distributions. 2017 is adjusted for cancelled buy-back. 2019 is adjusted for cancelled dividend. 4. Available Distributable Items (ADIs) is defined according to CRR and a term used accordingly e.g. in relation to AT1 debt holders. ADI predominantly consist of retained earnings at Danske Bank A/S. 5. Excluding the execution of the special dividend of DKK 6.5/share paid in December’24, post the PC NO divestment.. An extraordinary dividend of DKK 5 billion, equivalent to DKK 6.14 per share. Announced with Q126 results, was paid 5th May 2026 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 REA 844 906 819 852 865 834 815 753 748 767 784 860 838 828 815 822 847 CET1 ratio 10.1% 11.8% 14.5% 14.7% 15.1% 16.1% 16.3% 17.6% 17.0%1 17.3% 18.3% 17.7% 17.8% 18.8% 17.8% 17.3% 17.2% Net profit 3.7 1.7 4.7 7.1 13.02 17.72 19.9 20.9 15.0 15.1 4.6 12.9 -5.1 21.2 23.6 23.0 6.4 Distribution to shareholders3 0 0 0 2.0 10.5 17.1 18.9 16.3 7.6 0 1.7 1.7 0 18.0 23.65 23.0 - Total assets 3,214 3,424 3,485 3,227 3,453 3,293 3,484 3,540 3,578 3,761 4,109 3,936 3,763 3,771 3,716 3,754 3,940 85 107 119 126 130 134 133 133 127 133 144 152 149 155 145 142 146 85 107 119 126 130 134 133 133 127 133 144 152 149 155 145 142 146 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q32026 +61bn Investor Presentation – Q32026 Consistent strong capital generation of above 275bps (annualised) Regulatory impact from EBA guidelines and initial phase of Basel IV accounted for in REA Predictable dividend policy (60-70%), and flexibility around additional capital distribution Expect to manage CET1 ratio towards ~16% target by end of 2028 Capital plan implies a prudent buffer of 150- 200bp to CET1 requirements Available Distributable Items4 (ADIs) in excess of DKK 100bn Highlights 34
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Danske Bank 35 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Group has to meet a MREL requirement and a subordination requirement, both adjusted for Realkredit Danmark (RD) The subordination requirement is the higher of 2x(P1 + P2) + CBR or 8% TLOF The Group’s MREL requirement (total resolution requirement) is DKK 299bn incl. RD’s capital and debt buffer requirement (DKK 48bn) and the combined buffer requirement (DKK 57bn). Excess MREL funds are DKK 47bn The Group’s subordination requirement is DKK 257bn incl. RD’s capital and debt buffer requirement (DKK 48bn). Excess subordinated MREL funds are DKK 35bn This figure shows the Group’s MREL and subordination requirement as of end Q3 2026, which constitutes the fully-phased in requirements, i.e. no interim target Requirements will, however, be impacted by any changes to the CCyB Fully compliant with MREL and subordination requirement; expect to cover MREL need with both preferred and non-preferred senior *Including RealkreditDanmark’s(RD) capital and debt buffer requirements MREL & subordination requirement* and eligible funds Q326 DKK bn (% of Group REA) Comments Investor Presentation – Q32026 35 299 (35.3%) MREL requirement incl. CBR 54 (6.4%) 112 (13.2%) 180 (21.3%) MREL funds 257 (30.4%) Subordination requirement 112 (13.2%) 180 (21.3%) Subordinated MREL funds 299 (35.3%) 346 (40.9%) 257 (30.4%) 292 (34.5%) +47 (+5.6%) +35 (+4.1%) PS > 1y NPS > 1y CET1, AT1, T2
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Danske Bank 36 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 36 Funding & Liquidity
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Danske Bank 37 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Loan portfolio and long-term funding Q3 26 (DKK bn) Funding sources* (%) Funding structure and sources: Danish mortgage system is fully pass-through * Figures are rounded. Covered bonds includes own holdings Short-term funding Long-term funding 10% 3% -3% 61% 9% 9% 2% 9%9% 4% -5% 62% 9% 9% 2% 10%10% 3% -3% 61% 9% 9% 2% 9%9% 4% -5% 62% 9% 9% 2% 10% Deposits credit inst. CD & CP Repos, net Deposits Senior & NPS Covered bonds Subord. debt Equity Q226 Q326 Investor Presentation – Q32026 736 736 341 243 718 166 736 736 341 243 718 1,140 166 Loans Funding Senior & NPS bonds Bank loans Deposits Bank mortgages Covered bonds RD mortgages Issued RD bonds 1,795 2,285 37
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Danske Bank 38 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Senior debt1 by currency Q326 Covered bonds by currency Q326 Largest funding programmes Q326 Funding programmes and currencies 1 Including senior preferred and non-preferred debt 2% Utilisation NEU Commercial Paper Limit – EUR 10bn 54%EMTN Programme Limit – EUR 35bn 55%Global Covered Bond Limit – EUR 30bn 44%ECP Programme Limit – EUR 13bn 41%US MTN (144A) Limit – USD 20 bn 67%US Commercial Paper Limit – USD 6bn 54% SEK 45% EUR 31% USD 8% 5% 9% GBP NOK SEK 1% Other 47% EUR 1% CHF Total DKK 166 bn Total DKK 157 bn Investor Presentation – Q32026 38
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Danske Bank 39 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Funding plan *Spread over 3M EURIBOR. ** Includes covered bonds, senior, non-preferred senior and capital instruments, excl. RD. 75 61 95 75 61 95 2021 2022 2023 2024 2025 2026E 78 91 90-110 Changes in funding* 2026 (DKK bn and bp) Long-term funding excl. RD (DKK bn)** Maturing funding* 2027–2029 (DKK bn and bp) 22 3027 22 1814 14 2422 3027 22 1814 14 24 Redemptions 2026: DKK 74 bn 1 Redeemed 2026: DKK 47 bn New 2026: DKK 86 bn** 15bp 74bp 76bp 81bp 76bp 28bp 46bp 83bp Cov. bonds Senior Non-Preferred Senior 28 30 33 18 14 25 19 2328 30 33 18 14 25 19 23 2027: DKK 71 bn 2028: DKK 63 bn 3 2029: DKK 67 bn 23bp 64bp 114bp 30bp 45bp 84bp 36bp 48 140bp Cov. bonds Senior Non-Preferred Senior Investor Presentation – Q32026 86 39 Completed (Q3-26) ** Funding plan
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Danske Bank 40 Danske Bank covered bond universe – A transparent pool structure, with EUR issuance by Danske Mortgage Bank Plc & Danske Bank A/S D-pool and C-pool Residential and commercial mortgages Capital Centre T (adjustable-rate mortgages) Capital Centre S (fixed-rate callable mortgages) Residential mortgages Denmark, Danske Bank A/S, D-pool and I-pool Sweden, Danske Hypotek AB Finland, Danske Mortgage Bank Plc Commercial mortgages Sweden and Norway, Danske Bank A/S, C-pool Finland Sweden Norway Denmark Realkredit Danmark A/S Capital centres T & S S&P AAA Danske Mortgage Bank Plc Moody’s Aaa Danske Hypotek AB Moody’s Aaa Nordic Credit Rating AAA Danske Bank A/S C-pool S&P AAA Details of the composition of individual cover pools can be found on the respective issuers’ websites Danske Bank A/S I-pool S&P AAA Danske Bank A/S D-pool S&P AAA Investor Presentation – Q32026
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Danske Bank 41 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 41 ESG, Sustainability, Financial Crime Prevention
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Danske Bank 42 Sustainability is an integrated part of our Forward ’28 strategy 1. Ranking based on volume of sustainable bonds arranged for Nordic issuers (Bloomberg league tables, FY2025) 2. Ranking for the Nordics in the Sustainability Advisor 2025 survey from Prospera (Corporate & institutional clients) 3. Source: Climate Progress Report 2025. Ambition to provide 100 billion DKK in financing for the climate and energy transition(credit exposure and share of primary market bond arrangements) by end of 2028, with DKK 18 billion provided by year-end 2025. Supporting our customers with advisory and financing for the climate transition Strong ESG advisory offerings and #1 Nordic arranger of green bonds ESG integrated in key processes, incl. portfolio steering, lending and investments Our commercial focusOur position today Personal Customers Supporting customers with housing energy improvement and climate adaptation, EV financing and sustainability in investments Large Corporates & Institutions Financing the climate and energy transition and providing sustainable finance solutions and advisory services Business Customers Supporting companies in their sustainability transition through advisory services, partnerships and financing Asset Management & Danica Protecting and growing customers’ investments in line with their preferences while supporting the sustainability transition Reinforce stronghold in sustainable finance and advisory ESG advisory 2 #3 Sustainable finance 1 #1 2025 results 2028 ambition A leader in supporting our customers’ green transition... including ambition to mobilise Financing the climate and energy transition 3 DKK 18bn DKK 100bn Investor Presentation – Q32026
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Danske Bank 43 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours We have identified material sustainability topics for our business in accordance with CSRD / ESRS regulation, as outlined in our Annual Report Climate change (E1) Biodiversity & ecosystems (E4) Own workforce (S1) Business Conduct (G1) Environment Social Sustainability dimension Material ESRS topics Governance Consumers and end-users (S4) Detailed overview in Sustainability Statement section of our Annual Report (pp. 41-58) Investor Presentation – Q32026
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Danske Bank 44 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Across our climate targets, we have seen continued progress in 2025 – driven by close collaboration with customers and investee companies Source: Climate Progress Report 2025. See also Sustainability Statement in Annual Report 2025. 1) Baseline year 2020; 2) Absolute emission reduction target set; 3) Absolute emission reduction and carbon intensity targets; 4) Our personal mortgages emission reduction target has been updated from 55% to 62% following the sale of our Norwegian personal customer portfolio; 5) Based on Poseidon Principles methodology; 6) Differences in targets between asset management and life insurance & pension reflect different starting points of the portfolios; 7) 2030 target; 8) Baseline year 2019 ▪ Overall - We observe good progress on our climate targets across lending and investment activities as well as our own operations. ▪ Lending - We have launched an ambition to facilitate DKK 100 billion of financing to transition companies by 2028. Across our climate targets, we are progressing in line with linear trajectories towards our intermediate 2030 targets for most sectors. Shipping above linear trajectory, reflecting global transition challenges within this sector ▪ Investments – Within life insurance & pension, five of seven 2025 sector targets have been reached. These targets have been replaced with a Weighted Average Carbon Intensity reduction target of 60% from 2020 to 2030 for the portfolio. ▪ Our asset management Weighted Average Carbon Intensity has been reduced by 42% since 2020, well ahead of a linear trajectory towards the 50% reduction target by 2030. ▪ For our temperature rating targets, scope 1 and 2 indicators are on track, while indicators also covering scope 3 are behind linear trajectories. ▪ Own operations – Emissions from our own operations (scope 1, 2, and measured scope 3) have been reduced by 70% since 2019, tracking ahead of our 2030 target. Lending Highlights on target developmentAsset management Life insurance & pension Own operations 2030 sector emission intensity reduction targets 1 Oil and gas – exploration & production 2 50% Oil and gas – downstream refining 3 25% Power generation 50% Steel 30% Cement 25% Agriculture >30% Commercial real estate 55% Personal mortgages 4 62% 2030 sector alignment delta targets 1 Shipping 5 0% 2030 temperature rating reduction targets 6 Implied temperature rating of our investment products from 2.75 °C in 2020 to 2.1°C (scope 1 and 2) Implied temperature rating of our investment products from 2.94°C in 2020 to 2.2°C (scope 1, 2 and 3) 2030 carbon intensity reduction target 1 Weighted average carbon intensity of investment products 50% 2025 engagement target 1 Engagement with the 100 largest emitters 2030 temperature rating reduction targets 6 Implied temperature rating of our listed equities and credits from 2.5°C in 2020 to 2.0°C (scope 1 and 2) Implied temperature rating of our listed equities and credits from 2.8°C in 2020 to 2.2°C (scope 1, 2 and 3) 2025 sector emission intensity reduction targets 8 Real estate 7 69% Energy 15% Utilities 35% Cement 20% Transportation: Shipping Automotive Aviation 20% 20% 20% 2030 emission reduction targets 8 Carbon emissions in scope 1 and 2 80% Carbon emissions in scope 1, 2 and currently measured scope 3 categories 50% Below or within 5% above linear trajectory 5–10% above linear trajectory More than 10% above linear trajectory The disclaimer for the Climate Progress Report 2025 applies to all information shown on this slide Investor Presentation – Q32026
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Danske Bank 45 Across our business, we work with three prioritised sustainability agendas, and we have set targets and ambitions for each We support customers in the climate transition Asset Mgmt. 50% CO2e intensity by 2030 (vs. 2020) Operations 80% Scope 1+2 by 2030 (vs. 2019) Life insurance & pension 60% CO2e intensity by 2030 (vs. 2020) Lending 25-62% Across 9 sectors by 2030 (vs. 2020) Climate change ▪ Ongoing development of data and insights on nature-related impacts, risks and opportunities ▪ Continued engagement with companies in sectors with heightened impacts, dependencies and potential risks ▪ Advancing our nature-related competencies and management capabilities Nature & biodiversity Companies we purchase from Companies we lend to Companies we invest in We continuously develop our human rights due diligence processes covering Human rights & social impact Enhanced risk management Enhanced assessment for high-risk sectors Enhanced sustainability screening We advance our ability to support companies in key sectors For details, see our Climate Progress Report 2025 For details, see our latest Human Rights ReportFor more information on engagements, see our White Paper 1) For details, see our Climate Progress Report 2025 and Approach to Financing the Climate Transition Ambition to mobilise 100 billion DKK for the climate and energy transition from 2025 to 2028 1 We manage emissions across our business Investor Presentation – Q32026
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Danske Bank 46 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Effective Management of Financial Crime Risk Key progress and milestones • Financial Crime Plan successfully completed and proven effective, with extensive 2nd and 3rd line of defence testing which confirmed broadly effective controls, concluding the transition from remediation to a sustainable business as usual Financial Crime Program. • End of the Department of Justice (DOJ) probation period – as part of the Bank’s plea agreement with DOJ, the Bank was placed on corporate probation for three years, from 13 December 2022 until 13 December 2025. On 15 December 2025, the probation was confirmed as concluded by the Bank. • Good progress has been made on preparing for the EU Anti-Money Laundering package through a Group-wide project aimed at ensuring compliance with the new requirements by 10 July 2027. The Group has assessed the published requirements and is taking steps to implement the rules and guidance as they are understood today while continuing to monitor for more detailed regulatory guidance and industry approach. • Improved efficiency and simplification via Group-wide project, with a clear shift from post remediation towards organisational stabilisation, simplification of financial crime compliance requirements, governance framework and reduced complexity. • Technology and innovation are becoming integral to the Financial Crime Program, with governed introduction of various technologies and GenAI to improve future advisory, process management, and suspicious activity reporting. A comprehensive and embedded Financial Crime Program The Group has in place an effective Financial Crime Program that provides a coherent framework for managing financial crime risks and meeting regulatory obligations across jurisdictions in which the Group operates. The Financial Crime Program is regularly reviewed and tested to enable the Group to proactively identify, prepare for and respond to emerging risks and changes in relevant laws, regulations, guidelines, and sanctions regimes. The Financial Crime Program is implemented through consistent controls, training, processes and oversight across all market areas and subsidiaries. It is designed to support the Group’s resourcing and operational needs, ensuring alignment with financial crime regulations and the effective management of financial crime risks throughout the organisation. The Financial Crime Program includes, but is not limited to: • A sound financial crime compliance culture; • Financial crime risk tolerances, key performance indicators, key risk indicators and monitoring and reporting capabilities; • A financial crime governance framework; • Financial crime risk assessments; • A financial crime control framework; • Financial crime detection capabilities; • Customer and third-party due diligence measures; • Unusual and suspicious activity investigation and reporting; • A financial crime training program; and • Reporting, escalation and whistleblowing procedures and solutions ensuring prompt response to financial crime. Investor Presentation – Q32026
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Danske Bank 47 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Template name: Danske Bank Master TemplateTemplate version: 3.0Version date: 01-04-2025Presentations – Visual identity – Danske Bank Brandcenter Presentations – Visual identity – Danske Bank Brandcenter Template name: Danske Bank Master Template Template version: 3.0 Version date: 01-04-2025 Presentations – Visual identity – Danske Bank Brandcenter Financial Crime Compliance: Strategic focus and key priorities Key short-term priorities supporting the strategic focus • Driving Financial Crime Compliance Strategy, enhance Financial Crime Compliance’s role as a trusted partner, strengthening collaboration with 1st line of defence, continue building a strong, engaged and future ready Financial Crime Compliance organisation, focusing on critical skills, talent development and a culture that supports speaking up and accountability. • Deliver a timely implementation of the EU AML Package and associated secondary acts. • Closing two open Orders from the Danish FSA related to the Bank’s Financial Crime Group-wide Risk Assessment, including continued development and improvement of the Group-wide Risk Assessment. • Continue simplifying and streamlining Financial Crime Compliance governance, policies and processes, reducing complexity and duplication. • Ongoing enhancement of the control framework, right now focusing on Proliferation Financing framework and virtual IBAN controls, ensuring the implementation of the forthcoming Danish AML Act requirements and to address gaps identified in Group-wide Risk Assessment. Strategic focus on maintaining the Financial Crime Program Maintaining an effective and sustainable Financial Crime Program is a strategic priority. This is achieved through strong governance frameworks, active remediation of findings from assurance functions incl. Internal audit, continued alignment with the Forward ’28 strategy and active monitoring of regulatory developments and market practice. Key priorities supporting the strategic focus • Driving Financial Crime Compliance Strategy, enhance Financial Crime Compliance’s role as a trusted partner, strengthening collaboration with 1st line of defence, continue building a strong, engaged and future ready Financial Crime Compliance organisation, focusing on critical skills, talent development and a culture that supports speaking up and accountability. • Deliver timely implementation of the EU AML Package and associated secondary acts. • Continue simplifying and streamlining Financial Crime Compliance governance, policies and processes, reducing complexity and duplication. • Ongoing enhancement of the control framework, right now focusing on Proliferation Financing framework and virtual IBAN controls, ensuring the implementation of the forthcoming Danish AML Act requirements and to address gaps identified in Group-wide Risk Assessment. Investor Presentation – Q32026
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Danske Bank 48 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 48 Credit & ESG Ratings
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Danske Bank 49 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Fitch Moody’s Nordic Credit Rating S&P AAA Aaa AAA AAA AA+ Aa1 AA+ AA+ AA Aa2 AA AA AA- Aa3 AA- AA- A+ A1 A+ A+ A A2 A A A- A3 A- A- BBB+ Baa1 BBB+ BBB+ BBB Baa2 BBB BBB BBB- Baa3 BBB- BBB- BB+ Ba1 BB+ BB+ On 26 August 2026, S&P revised its outlook on Danske Bank to Positive from Stable while affirming all its ratings on Danske Bank. The rating affirmations follow S&P’s upward revision of the anchor rating for domestic banks in Denmark to ‘a-’ from ‘bbb+’, while incorporating a one-notch negative Comparable Rating Analysis adjustment to Danske Bank’s Stand-Alone Credit Profile. The Positive outlook reflects S&P’s view that, over the next two years, it could raise the rating if Danske Bank further improves its risk-adjusted profitability and closes the profitability gap with higher -rated peers. On 31 August 2026, Scope Ratings affirmed all its ratings of Danske Bank before withdrawing them at Danske Bank’s request. Danske Bank’s credit ratings – S&P revises its outlook to Positive from Stable Investment grade Speculative grade Rating actions Senior unsecured debt Tier 2 subordinated debt Additional tier 1 capital instruments Moody’s rated covered bonds – Danske Mortgage Bank, Danske Hypotek Scope rated covered bonds – RD (S + T), Danske Bank (C + D), Danske Mortgage Bank Non-preferred senior debt Counterparty rating S&P rated covered bonds – RD (S + T + General), Danske Bank (C + D + I) Nordic Credit Rating rated covered bonds – Danske Hypotek Long-term instrument ratings Investor Presentation – Q32026
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Danske Bank 50 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Rating methodology Danske Bank’s credit ratings – S&P revises its outlook to Positive from Stable Danske Bank’s rating * Baseline Credit Assessment 1=Asset Risk, 2=Capital, 3=Profitability, 4=Funding Structure, 5=Liquid resources + =Macro profile Strong + 3 baa2 1 a3 2 a1 4 a3 Quali- tative factors 0 Gov. support +1 + BCA* a3 5 a3 Issuer rating A1 (Stable) +Loss Given Failure +1 + + + + = Affiliate support 0 + + 1=Business Position, 2=Capital & Earnings, 3=Risk Position, 4=Funding & Liquidity + = + =+ + + Anchor SACP* a- 3 0 1 +1 2 +1 4 0 Extraordinary external support 0 CRA** adjustment -1 Issuer rating A+ (Positive) SACP* a ALAC*** +1 + * Stand-Alone Credit Profile, ** Comparable Ratings Analysis, *** Additional Loss Absorbing Capacity =Operating environment aa- Risk Profile a+ Business Profile a+ Asset Quality a+ Capitalisation & Leverage a+ + Funding & Liquidity a+ Earnings & Profitability a+ Issuer rating A+ (Stable) Viability Rating a+ + + + + + = Government Support No Support + No government support + Investor Presentation – Q32026
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Danske Bank 51 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours ESG rating agency Q3 2026 Q2 2026 End-2025 End-2024 End-2023 Range CDP B 5% of the 22,100 climate scored companies made the 2025 CDP A List B B B B A to D (A highest rating) ISS STOXX C+ Prime Decile rank: 1 (322 banks rated) C+ Prime C+ Prime C+ Prime C+ Prime A+ to D- (A+ highest rating) Decile rank of 1 indicates a higher ESG performance, while decile rank of 10 indicates a lower ESG performance MSCI AA MSCI rates 637 banks: AAA 14% AA 20% A 19% BBB 21% BB 16% B 9% CCC 2% BBB BBB BBB BBB AAA to CCC (AAA highest rating) Sustainalytics Low Risk Rank in Regional Banks: 90/571 Rank in Banks: 189/920 Low Risk Low Risk Low Risk Medium Risk Risk categories: Negligible, Low, Medium, High, Severe • On 5 October 2026, MSCI upgraded Danske Bank’s ESG rating by two notches, to “AA” from “BBB”. The upgrade was mainly driven by improvements in Danske Bank’s consumer financial protection practices, which resulted in the removal of a score deduction related to the legacy errors in our debt collection system. Danske Bank’s ESG ratings – MSCI upgrades Danske Bank to “AA” from “BBB” Rating action Investor Presentation – Q32026
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Danske Bank 52 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Danske Bank 52 Tax & Material one-offs
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Danske Bank 53 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Tax The actual tax rate of 25,4% (excluding prior- year's adjustments) is lower than the Danish rate of 26% - due to the differences in statuary tax rates in the various countries in which we operate and the tax effect from tax exempt income/expenses Adjusted tax rate of 24,8% is lower than the Danish rate of 26%, reflecting a weighted average of the statutory tax rates in the countries in which we operate The permanent non-taxable difference derives from tax-exempt income/expenses Actual and adjusted tax rates (DKK m) Tax drivers, Q3 2026 Line Q32026 Q22026 Q12026 Q42025 Q32025 1 Profit before tax according to P&L 8,468 8,347 7,595 8,335 7,384 2 Permanent non-taxable difference 231 263 205 -211 235 3 Adjusted pre-tax profit, Group 8,699 8,610 7,800 8,124 7,619 4 Tax according to P&L 2,078 2,147 1,908 2,028 1,864 5 Taxes from previous years etc. 77 -22 0 -53 -5 6 Adjusted tax 2,155 2,125 1,908 1,975 1,859 7 Adjusted tax rate 24.8% 24.7% 24.5% 24.3% 24.4% 8 Actual-/Effective tax rate 24.5% 25.7% 25.1% 24.3% 25.2% 9 Actual-/Effective tax rate exclusive prior year regulation 25.4% 25.5% 25.1% 23.7% 25.2% Investor Presentation – Q32026 53
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Danske Bank 54 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Material extraordinary items, 2024 – 2026 Quarter One-off items Effect (DKK m) P&L line affected Q124 None Q224 None Q324 Reimbursement of insurance costs 179 Expense Q424 Management of 15 Danske Invest Horisont funds in Norway sold to Nordea 181 Other income Q125 Provisions related to legacy life insurance business -220 Net income from insurance Q225 None Q325 None Q425 Model calibration in Danica H&A following FSA order -200 Net income from insurance Q126 None Q226 Gain: Reversal of a provision related to the sale of the personal customer business in Norway 231 Other income Q326 None Investor Presentation – Q32026 54
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Danske Bank 55 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Thomas Halkjær Jørgensen Chief Funding Manager Mobile +45 25 42 53 03 thjr@danskebank.dk Bent Callisen Head of Group Funding Mobile: +45 30 10 23 05 call@danskebank.dk Contacts Investor Relations Group Treasury and Funding Claus Ingar Jensen Head of IR Mobile +45 25 42 43 70 clauj@danskebank.dk Nicolai Brun Tvernø Head of Debt IR Mobile +45 31 33 35 47 nitv@danskebank.dk Olav Jørgensen Chief IR Officer Mobile +45 52 15 02 94 ojr@danskebank.dk Investor Presentation – Q12026 Justin Fox Group Treasurer Mobile: +45 23 47 92 27 jfox@danskebank.dk 55
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Danske Bank 56 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Disclaimer for Danske Bank’s Climate Progress Report 2025 Danske Bank’s Climate Progress Report 2025 has been prepared by Danske Bank A/S (“Danske Bank”). Danske Bank is under supervision by the Danish Financial Supervisory Authority (Finanstilsynet). The publication is for informational purposes only. It is not a regulated disclosure and has not been reviewed or approved by any supervisory authority. The publication does not constitute a recommendation, offer or solicitation of an offer to trade a financial instrument or any other banking, investment, insurance or other product or service in any jurisdiction, including the United States. It should not be relied upon as investment, legal, tax or financial advice. Always consult with professional advisers as to the suitability and appropriateness of an investment. No part of this publication, including any reference to banking services, investment services, insurance services, and/ or consumer lending services, nor the fact of its distribution, is intended for US persons, including any national or resident of the United States, or any corporation, partnership or other entity organised under the laws of the United States. Reasonable care has been taken to ensure that the content is fair, true and not misleading. However, the publication includes information that is subject to uncertainties stemming from limitations in underlying methodologies and data. Models and data sources used in preparing this report will continue to evolve, and Danske Bank makes no representation and gives no assurance to the likelihood of achievement, content’s accuracy or completeness, including third-party information, and accepts no liability for any loss arising from relying on the information provided. The information in this report has not been independently verified. The forward-looking statements in the publication reflect Danske Bank’s current view of future events and are based on expectations, projections, assumptions and estimations, which involve uncertainties and risks, including, but not limited to, evolving science, developing methodologies and scenarios, variation in standards, future market conditions, technological developments (which vary significantly from industry to industry), challenges related to data availability, accuracy, verifiability, changes in regulation and realisation of government plans and strategic objectives. Climate data, models and methodologies are evolving and do not yet match the standards of financial reporting information. The forward-looking statements should not be viewed as reliable indicators of future performance or as complete or accurate accounts of actual performance. Evolving methodologies and data availability pose challenges for reporting accuracy, and updates to these may alter the conclusions presented, thereby causing descriptions, figures and charts in the report to become outdated. All forward-looking statements made represent only the prevailing sentiment at the time of publication and may require future re-evaluation. As market practices and data quality and availability develop, Danske Bank may be required to update its methodologies or adjust its approach to ESG analysis, possibly amending, updating and recalculating its targets and assessments. Danske Bank undertakes no obligation to update or revise any forward-looking statements in this publication to reflect events or circumstances after the date of publication. Caution must be exhibited when interpreting this publication. For additional important information regarding data, models and methodologies, please see the separate publication on accounting principles and methodologies. Investor Presentation – Q32026 56
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Danske Bank 57 Signature Sand 1 Sand 2 Sand 3 White Action Caution Negative Positive Gold 1 Gold 2 Gold 3 Gold 4 Copper 1 Copper 2 Copper 3 Copper 4 Green 1 Green 2 Green 3 Green 4 Blue 1 Blue 2 Blue 3 Blue 4 Secondary colours Primary colours Action colours Important Notice This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Danske Bank A/S in any jurisdiction, including the United States, or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Danske Bank believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of various factors many of which are beyond Danske Bank’s control. This presentation does not imply that Danske Bank has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided. Disclaimer Investor Presentation – Q32026 57