Slides
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Handelsbanken January– December 2025 4 February2026
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Q4 2025 • Growth in savings business • Growth in lending in the UK and the Netherlands • Income up and costs under control • 8th consecutive quarter with net credit loss reversals • Strong financial position • Proposed dividend SEK 17.50 per share 2
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SEK m Q4 2025 Q3 2025 Change Adjusted for items affecting comparability* Net interest income 10,038 10,468 -4% -3% Net fee and commission income 3,118 2,979 5% 5% Total income 14,262 14,121 1% 2% Total expenses -5,810 -5,715 2% 4% Profit before credit losses and regulatory fees 8,452 8,406 1% 0% Net credit losses 5 35 -86% -86% Regulatory fees -777 -675 15% 15% Operating profit 7,682 7,768 -1% -2% Key ratios: Financialsummary Q4 2025 comparedto previousquarter 40.7% C/I-ratio 0.00% Net credit loss ratio 17.6% CET1-ratio * Items affecting comparability consists of foreign exchange effects, Oktogonen, non-recurring items and special items. 13.0% ROE 3
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SEK m Full year 2025 Full year 2024 Change Adjusted for items affecting comparability* Net interest income 42,542 46,841 -9% -7% Net fee and commission income 11,863 11,726 1% 2% Total income 56,796 62,345 -9% -7% Total expenses -23,567 -25,209 -7% -3% Profit before credit losses and regulatory fees 33,229 37,136 -11% -10% Net credit losses 313 601 -48% -46% Regulatory fees -2,800 -2,733 2% 3% Operating profit 30,750 35,016 -12% -12% Key ratios: Financialsummary Jan-Dec 2025 comparedto previousyear 41.5% C/I-ratio -0.01% Net credit loss ratio 17.6% CET1-ratio * Items affecting comparability consists of foreign exchange effects, Oktogonen, non-recurring items and special items. 13.0% ROE 4
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NII change: -4% Net interestincomedevelopment Q4 2025 comparedto previousquarter Contribution from: Volumes: +0%-points Margins and funding: -3%-points 10,468 10,038 14 -286 -53 -85 -20 9,500 9,700 9,900 10,100 10,300 10,500 10,700 Q3 2025 Volume in home markets Margins and funding Deposit guarantee fee* Foreign exchange effects Other Q4 2025 SEK m 5 * Including calibration for the full year fee 2025
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981 991 1,018 0 500 1,000 1,500 2,000 2,500 Q4 2023 Q4 2024 Q4 2025 Net fee and commissionincome 2,800 3,067 3,118 2,400 2,500 2,600 2,700 2,800 2,900 3,000 3,100 3,200 Q4 2023 Q4 2024 Q4 2025 CAGR: +6% 1,819 2,076 2,100 0 500 1,000 1,500 2,000 2,500 Q4 2023 Q4 2024 Q4 2025 Savings related* (67% of net fee and commissions) CAGR: +7% Other (33%) * Provisions from mutual funds, asset management, and insurance SEK m SEK m SEK m CAGR: +2%
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Expenses Q4 2023 – Q4 2025 SEK m 7 3,587 1,781 480 -39 -500 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 -5% -4% Staff costs excl items affecting comparability Other expenses Depreciation, amortisation and impairment Items affecting comparability
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Net creditlosses Credit loss ratio 1997 – 2024 Credit losses Q4 2023 – Q4 2025 * Average for SEB, Nordea, Swedbank, Danske Bank and DNB Credit loss ratioSEK m -0.4% -0.2% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Handelsbanken Comparable Nordic banks* 0.00% -0.01% -0.02% -0.02% -0.03% -0.01% -0.03% -0.01% 0.00% -0.4% -0.2% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2%-1,200 -1,000 -800 -600 -400 -200 0 200 400 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Change in management addon (balance at zero as per Q2 2025) Net credit losses, ex. addon Net credit loss ratio (rhs) 8
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Home markets * All qoq comparisons in local currency Norway 9% of Group operating profits Sweden 71% of Group operating profits The Netherlands 2% of Group operating profits United Kingdom 14% of Group operating profits Q4 2025 vs Q3 2025: Operating profit SEK 5.5bn Operating profit, qoq -4% C/I ratio 32.8% (30.7) Return on allocated capital 14.6% (15.7) Average lending, qoq 0% Average deposits, qoq +1% AUM, qoq +5% Q4 2025 vs Q3 2025: Operating profit SEK 0.7bn Operating profit, qoq -11% C/I ratio 44.5% (41.5) Return on allocated capital 9.8% (11.9) Average lending, qoq -3% Average deposits, qoq -5% AUM, qoq +11% Q4 2025 vs Q3 2025: Operating profit SEK 1.1bn Operating profit, qoq +3% C/I ratio 57.5% (58.7) Return on allocated capital 12.7% (12.8) Average lending, qoq +2% Average deposits, qoq +2% AUM, qoq +4% Q4 2025 vs Q3 2025: Operating profit SEK 0.2bn Operating profit, qoq -4% C/I ratio 56.3% (54.6) Return on allocated capital 8.9% (9.7) Average lending, qoq +2% Average deposits, qoq -3% AUM, qoq +4% 9
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Solid asset quality Low funding and liquidity risk Strong liquidity buffer CET1 ratio 17.6%, within target range Proposed dividend SEK 17.50 per share Strong financialposition CET1 ratio, Q4 2025 * Estimated requirement by the Swedish FSA at the end of Q4 2025 115 137 14.7% 17.6% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 0 20 40 60 80 100 120 140 160 Regulatory minimum* CET1 Long term target range 15.7 – 17.7% REA: SEK 780bn 10 SEK bn
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In sum 11 • Growth in savings business • Growth in lending in the UK and the Netherlands • Income up and costs under control • 8th consecutive quarter with net credit loss reversals • Strong financial position • Satisfied customers • Proposed dividend SEK 17.50 per share • Total shareholder return above 30% in 2025
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Appendix
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The Board’sproposalto the AGM 2026 Dividend proposal Earnings year 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Ordinary dividend, SEK/share 8.00 7.50 6.50 5.50 5.00 4.10 5.50 5.50 5.00 4.50 4.17 3.83 3.58 3.25 Extra dividend Industrivärden, SEK/share 4.30 Extra dividend, SEK/share 9.50 7.50 6.50 2.50 2.00 1.50 1.66 1.67 - - Total dividend, SEK/share 17.50 15.00 13.00 8.00 5.00 8.40 5.50 7.50 5.00 6.00 5.83 5.50 3.58 3.25 Total dividends, SEK bn 34.7 29.7 25.7 15.9 9.9 16.7 10.7 14.6 9.7 11.4 11.1 10.5 6.8 6.1 Payout ratio, ordinary dividend 67% 54% 44% 51% 51% 52% 62% 66% 59% 53% 52% 51% 46% 49% Payout ratio, total dividend 146% 108% 88% 74% 51% 107% 62% 91% 59% 70% 73% 73% 47% 49% Dividend growth, ordinary dividend 7% 15% 18% 10% 22% n.a. 0% 10% 11% 8% 9% 7% 10% 8% Dividend growth, total dividend 17% 15% 62% 61% -41% n.a. -27% 50% -17% 3% 6% 54% 10% 8% Ex-dividend date: Record date for dividends: Payment: March 26, 2026 March 27, 2026 April 1, 2026 13
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Key ratios: Incomestatement Comparedto previousquarter 40.7% C/I-ratio 0.00% Net credit loss ratio 17.6% CET1-ratio 13.0% ROE SEK m Q4 2025 Q3 2025 Change Net interest income 10,038 10,468 -4% Net fee and commission income 3,118 2,979 5% Net gains/losses on financial transactions 677 573 18% Other income 428 101 Total income 14,262 14,121 1% Staff costs, excl. Oktogonen -3,587 -3,594 0% Oktogonen 39 -62 Other expenses -1,781 -1,544 15% Depreciation, amortisation and impairment of property, equipment and intangible assets -480 -515 -7% Total expenses -5,810 -5,715 2% Profit before credit losses and regulatory fees 8,452 8,406 1% Net credit losses 5 35 -86% Gains/losses on disposal of property, equipment and intangible assets 2 2 0% Regulatory fees -777 -675 15% Operating profit 7,682 7,768 -1% Taxes -1,583 -1,747 -9% Net profit from continuing operations 6,099 6,020 1% Net profit from discontinued operations -129 -72 79% Net profit for the period 5,970 5,948 0% 14
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Key ratios: Incomestatement Compared to previous year 41.5% C/I-ratio -0.01% Net credit loss ratio 17.6% CET1-ratio 13.0% ROE SEK m Full year 2025 Full year 2024 Change Net interest income 42,542 46,841 -9% Net fee and commission income 11,863 11,726 1% Net gains/losses on financial transactions 1,692 3,103 -45% Other income 699 674 4% Total income 56,796 62,345 -9% Staff costs, excl. Oktogonen -14,622 -15,476 -6% Oktogonen -155 -255 -39% Other expenses -6,770 -7,474 -9% Depreciation, amortisation and impairment of property, equipment and intangible assets -2,020 -2,004 1% Total expenses -23,567 -25,209 -7% Profit before credit losses and regulatory fees 33,229 37,136 -11% Net credit losses 313 601 -48% Gains/losses on disposal of property, equipment and intangible assets 8 13 -38% Regulatory fees -2,800 -2,733 2% Operating profit 30,750 35,016 -12% Taxes -6,755 -7,795 -13% Net profit from continuing operations 23,995 27,221 -12% Net profit from discontinued operations -266 234 - Net profit for the period 23,729 27,456 -14% 15
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Change in NII from previousquarter Net interest income continuing operations Q3 2025, SEK m 10,468 Deposit volume 6 Lending volume 5 Net effect margins and funding costs -253 Day count effect 0 Deposit guarantee fee -48 Other -11 Sweden -301 -2.9% Deposit volume 2 Lending volume 1 Net effect margins and funding costs -69 Day count effect 0 Foreign exchange effects -70 Deposit guarantee fee -5 Other -8 Home markets outside Sweden -149 -1.4% Net of funding costs and allocation to business segments 36 Day count effect 0 Foreign exchange effects -15 Deposit guarantee fee 0 Other -3 Group Treasury and other units 18 0.2% Change in NII continuing operations -430 -4.1% Net interest income continuing operations Q4 2025, SEK m 10,038 Summary of changes: Volumes in home markets 14 0.1% Net margins and funding -286 -2.7% Day count effect 0 0.0% Deposit guarantee fee -53 -0.5% Foreign exchange effects -85 -0.8% Other -20 -0.2% 16 Net effect of margins and funding costs SEK -286m
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NFT NFT Customerdriven NFT in home markets and Markets* 17 341 429 534 395 420 15 535 570 602 393 1,087 579 750 580 626 1,147 506 -64 573 677 -800 -600 -400 -200 0 200 400 600 800 1,000 1,200 2021 2022 2023 2024 2025 Other, incl realisations Funding and liquidity management Markets CVA/DVA Home markets + Markets excl CVA/DVA Net 0 200 400 600 800 2021 2022 2023 2024 2025 Markets Home markets Average Q121-Q425: SEK +2m Average Q121-Q425: SEK +6m 521 SEK m SEK m • Funding effects in Stadshypotek in ”Funding and liquidity management” instead of Sweden in home markets. Excl CVA/DVA.
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Asset quality Expectedcredit losses Stage 3, net -13 -120 -100 -80 -60 -40 -20 0 20 40 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Credit losses -13 4 16 -2 -20-1001020 Expected credit losses in Stage 3, net Write-offs and recoveries Other effects Stage 1 and Stage 2 Updated macro assumptions Credit losses, net 5 -100 -50 0 50 100 150 200 250 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 18 • Rating migrations SEK -4m • Better quality on new loans compared to exits SEK 11m • Other (incl. effects from change in loan durations and migrations to stage 3) SEK 10m SEK m SEK m SEK m
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Change in CET1-ratio from previousquarter CET1-ratio 17.6 18.2 0.7 0.1 0.2 0.2 0.1 0.2 1.7 16.0 16.5 17.0 17.5 18.0 18.5 19.0 19.5 Q3 2025 Earnings for the period Volume development Migrations (volume and credit risk) and model updates Riskweight floor effects Operational risk Structural FX positions Anticipated dividends Q4 2025 REA 780 802 11 5 7 6 7 5 4 750 760 770 780 790 800 810 Q3 2025 Volume development Migrations (volume and credit risk) and model updates Riskweight floor effects Currency effects, REA Operational risk Structural FX positions Other Q4 2025 19 % SEK bn
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Disclaimer 20 • Certain statements made in this presentation are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance, express or implied, by the forward looking statements. Factors that might cause forward looking statements to differ materially from actual results include, among other things, regulatory and economic factors. Handelsbanken Group assumes no responsibility to update any of the forward looking statements contained herein. • No representation or warranty, express or implied, is made or given by or on behalf of Handelsbanken Group or its directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation. None of Handelsbanken Group or any of its directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. • This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Handelsbanken Group, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.