Slides
Page 1
Handelsbanken January – September 2026 21 October 2026
Page 2
Q3 2026 • Income higher, costs lower, 0.00% credit losses • Operating profit increased to SEK 7.4 bn • Increased operating profit in all home markets • Growth in lending, deposits and assets under management • ROE increased to 13.5% • Robust financial position • SEK 8.0 per share in YTD dividend anticipation (92% of profits) • High customer satisfaction confirmed in external surveys 2
Page 3
0 25 50 75 100 125 150 175 200 225 250 Equity per share, adjusted Accumulated dividends* Stable value creation in stable markets Exposure to stable markets Creation of shareholder value Equity plus dividends* Customer satisfaction 3 Finansbarometern Finansbarometern SKI / EPSI Sweden : 206 branches UK: 137 branches Norway : 32 branches The Netherlands : 26 branches SEK/share Global Finance 2026
Page 4
Business growth* in home markets Sweden 75% of operating profit in home markets 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Lending Deposits AUM UK 13% of operating profit in home markets 0 5 10 15 20 25 Lending Deposits AUM Norway 9% of operating profit in home markets 0 50 100 150 200 250 300 350 Lending Deposits AUM The Netherlands 3% of operating profit in home markets 0 2 4 6 8 10 12 Lending Deposits AUM 4 +0% +5% +23% +10% +8% +1% +0% + 25 % +26% +10% - 5% +2% Q3 2025 – Q3 2026 SEK bn GBP bn NOK bn EUR bn * Average lending and deposit volumes, and end of quarter AUM
Page 5
SEK m Q3 2026 Q2 2026 Change Adjusted for items affecting comparability* Net interest income 10,051 10,008 0% -1% Net fee and commission income 3,330 3,135 6% 6% NFT 515 116 344% 341% Other 63 197 -68% -68% Total income 13,959 13,456 4% 3% Total expenses -5,910 -5,963 -1% -3% Profit before credit losses and regulatory fees 8,049 7,493 7% 7% Net credit losses -5 -30 -83% -83% Regulatory fees -691 -788 -12% -12% Operating profit 7,353 6,678 10% 10% Key ratios: Financial summary Q3 2026 compared to previous quarter 42.3% C/I - ratio 0.00% Net credit loss ratio 17.0% CET1 - ratio 13.5% ROE 5 * Items affecting comparability consists of foreign exchange effects, Oktogonen, non - recurring items, and special items
Page 6
SEK m Jan-Sep 2026 Jan-Sep 2025 Change Adjusted for items affecting comparability* Net interest income 30,075 32,902 -9% -8% Net fee and commission income 9,538 8,755 9% 9% NFT 1,178 1,010 17% 17% Other 1,402 271 >100% 1% Total income 42,193 42,938 -2% -4% Total expenses -17,711 -18,172 -3% -1% Profit before credit losses and regulatory fees 24,482 24,766 -1% -6% Net credit losses -70 278 n.a. n.a. Regulatory fees -2,191 -2,116 4% 4% Operating profit 22,226 22,933 -3% -8% Key ratios: Financial summary Jan - Sep 2026 compared to previous year 42.0% C/I - ratio 0.00% Net credit loss ratio 17.0% CET1 - ratio 13.3% ROE 6 * Items affecting comparability consists of foreign exchange effects, Oktogonen, non - recurring items, and special items.
Page 7
NII change: 0.4% Net interest income Q3 2026 compared to previous quarter Contribution from: Volumes: +0.9% - points Margins and funding: - 1.9% - points Currency effects and day count: +1.4% - points 10,008 10,051 87 31 112 7 - 194 9,500 9,600 9,700 9,800 9,900 10,000 10,100 10,200 Q2 2026 Volume in home markets Margins and funding Day count effect Foreign exchange effects Other Q3 2026 SEK m 7
Page 8
948 968 0 500 1,000 1,500 2,000 2,500 Q325 Q425 Q126 Q226 Q326 Net fee and commission income 2,978 3,330 2,400 2,500 2,600 2,700 2,800 2,900 3,000 3,100 3,200 3,300 3,400 Q325 Q425 Q126 Q226 Q326 +12% 2,030 2,362 0 500 1,000 1,500 2,000 2,500 Q325 Q425 Q126 Q226 Q326 Savings related* (71% of net fee and commissions) +16% Other (29%) * Provisions from mutual funds, asset management, and insurance SEK m SEK m SEK m +2% 8
Page 9
Net inflows: 2016 - 2026: 2 8 % market share Jan - Sep 2026: 35% market share Outstanding mutual fund volumes: 12% market share Growth in Swedish savings business Net inflows in the Swedish mutual fund market, accumulated -50 0 50 100 150 200 250 300 350 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Jan-Sep 2026 9 Main peers* Handelsbanken SEK +327bn * Top - 10 institutions, Source: Swedish Investment Fund Association
Page 10
Stable cost base despite underlying inflation Expenses SEK m 10 - 3,724 - 1,584 - 508 - 94 -4,000 -3,500 -3,000 -2,500 -2,000 -1,500 -1,000 -500 0 500 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 +1% - 1% Staff costs, excl Oktogonen Other expenses Depreciation, amortisation and impairment Oktogonen
Page 11
Net credit losses Credit loss ratio 1997 – H1 2026 Credit losses Q3 2025 – Q3 2026 * Average for SEB, Nordea, Swedbank, Danske Bank, and DNB Credit loss ratio SEK 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 2025 H1 '26 Handelsbanken Comparable Nordic banks* 0.00% 0.01% 0.01% 0.00% 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 Q325 Q425 Q126 Q226 Q326 Net credit losses Net credit loss ratio (rhs) 11
Page 12
▪ SREP lowered by 20bp to 14.5% ▪ CET1 of 17.0% ➔ 250bp above SREP ▪ Anticipated dividends of YTD earnings: ▪ SEK 8.0 per share ▪ 92% of net profit ▪ Approval of new PD corporate model ▪ Implemented in Q3 2026 ▪ Approval of new PD household model ▪ SEK ~3 bn lower capital requirement expected in Q4 2026, net of removal of associated Pillar 2 requirement Financial stability CET1 ratio, Q3 2026 * Estimated requirement by the Swedish FSA at the end of Q3 2026 120 141 14.5% 17.0% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 0 20 40 60 80 100 120 140 160 180 Regulatory minimum* CET1 Long term target range: 15.5 – 17.5% REA: SEK 830bn 12 SEK bn
Page 13
In sum 13 • Income higher, costs lower, 0 . 00 % credit losses • Increased operating profit in all home markets • Growth in lending, deposits and assets under management • Robust financial position • SEK 8.0 per share in YTD dividend anticipation • High customer satisfaction
Page 14
Appendix
Page 15
High customer satisfaction Retail customers Corporate customers 15 Finansbarometern 2026 Finansbarometern 2026 SKI / EPSI 2026 Global Finance 2026 68 71 79 87 66 70 65 78 55 60 65 70 75 80 85 90 Handelsbanken Industry Index 66 71 77 80 64 68 67 67 55 60 65 70 75 80 85 90 Handelsbanken Industry Index Handelsbanken continues to be the large bank with the most satisfied customers overall.
Page 16
EPSI / SKI Sweden 2026 (vs. 2025) Mobile banking app Online banking Mobile banking app Online banking 16 67.4 74.3 74.4 75.9 76.1 76.4 76.5 80.2 82.1 Small peer 5 Large peer 3 Large peer 2 Industry average Large peer 1 Handelsbanken Small peer 3 Others Small peer 1 80.3 78.7 76.3 76.0 75.9 75.2 74.7 72.2 66.8 Small peer 1 Others Large peer 1 Handelsbanken Small peer 3 Industry average Large peer 2 Large peer 3 Small peer 5 83,6 ( - 1,5) 80 (+1) 78,7 ( - 2,4) 78,2 (+0,1) 78,2 78,1 (+1,9) 78,1 ( - 0,5) 77,9 (+1,7) 76,8 ( - 2) 75 69,8 ( - 8,4) Small peer 1 Handelsbanken Others Large peer 1 Small peer 2 Large peer 2 Industry average Small peer 3 Large peer 3 Small peer 4 Small peer 5 85,4 ( - 0,8) 79,8 79,5 (+2,3) 79,3 79 (+0,6) 78,7 (+1,5) 78 (+0,5) 77,6 (+0,3) 77,1 (+2,7) 77 ( - 1,1) 65,8 ( - 9,1) Small peer 1 Small peer 2 Others Small peer 4 Handelsbanken Large peer 1 Industry average Small peer 3 Large peer 2 Large peer 3 Small peer 5 Private customers Corporate customers (+1,3) (+ 6,3 ) (+3,3) (+3,1) (+3,8) (+2,0) ( - 0,8) (+0,9) ( - 2,5) (+1,4) (+9,0) (+4,7) (+4,0) (+4,0) (+3,4) ( +1,5) ( - 0,5) (+2,6)
Page 17
Safety and stability – over cycles 99 56 54 49 48 20 Handelsbanken Bank 3 Bank 5 Bank 4 Bank 2 Bank 6 11% 22% 33% 58% 63% Handelsbanken Bank 2 Bank 3 Bank 4 Bank 5 17 Peers included: Swedbank, Nordea, SEB, and Danske * Source: Bank reports ** CET1 capital as of Dec 2025 in relation to average credit losses 2006 - 2025 *** Standard deviation of annual profit growth before tax 2006 - 2025 (excl. DnB ). Source: Factset BCA, Stand - Alone Credit Profile & Viability Rating Net credit loss ratio 2006 - 2025%* CET1 capital/historical credit losses average** Earnings growth volatility 2006 - 2025*** Moody's S&P Fitch Handelsbanken a1 a+ aa DNB a2 a+ Nordea a2 a+ aa- SEB a2 a+ aa- Swedbank a2 a aa- Danske Bank a3 a a+ 0.06 0.14 0.15 0.15 0.20 0.40 0.00 0.10 0.20 0.30 0.40 0.50 Handelsbanken Bank 2 Bank 5 Bank 4 Bank 3 Bank 6
Page 18
Key ratios: Income statement Compared to previous quarter 42.3% C/I - ratio 0.00% Net credit loss ratio 17.0% CET1 - ratio 13.5% ROE SEK m Q3 2026 Q2 2026 Change Net interest income 10,051 10,008 0% Net fee and commission income 3,330 3,135 6% Net gains/losses on financial transactions 515 116 Other income 63 197 -68% Total income 13,959 13,456 4% Staff costs, excl. Oktogonen -3,724 -3,695 1% Oktogonen -94 -48 96% Other expenses -1,584 -1,756 -10% Depreciation, amortisation and impairment of property, equipment and intangible assets -508 -464 9% Total expenses -5,910 -5,963 -1% Profit before credit losses and regulatory fees 8,049 7,493 7% Net credit losses -5 -30 -83% Gains/losses on disposal of property, equipment and intangible assets 1 2 -50% Regulatory fees -691 -788 -12% Operating profit 7,353 6,678 10% Taxes -1,601 -1,449 10% Net profit for the period 5,753 5,228 10% 18
Page 19
Key ratios: Income statement Compared to previous year 42.0% C/I - ratio 0.00% Net credit loss ratio 17.0% CET1 - ratio 13.3% ROE SEK m Jan-Sep 2026 Jan-Sep 2025 Change Net interest income 30,075 32,902 -9% Net fee and commission income 9,538 8,755 9% Net gains/losses on financial transactions 1,178 1,010 17% Other income 1,402 271 Total income 42,193 42,938 -2% Staff costs, excl. Oktogonen -11,097 -11,299 -2% Oktogonen -143 -194 -26% Other expenses -5,017 -5,209 -4% Depreciation, amortisation and impairment of property, equipment and intangible assets -1,454 -1,470 -1% Total expenses -17,711 -18,172 -3% Profit before credit losses and regulatory fees 24,482 24,766 -1% Net credit losses -70 278 Gains/losses on disposal of property, equipment and intangible assets 5 5 0% Regulatory fees -2,191 -2,116 4% Operating profit 22,226 22,933 -3% Taxes -4,887 -5,174 -6% Net profit for the period 17,339 17,759 -2% 19
Page 20
Change in NII from previous quarter Net interest income Q2 2026, SEK m 10,008 Deposit volume 55 Lending volume 8 Net effect margins and funding costs -140 Day count effect 50 Deposit guarantee fee 1 Other 1 Sweden -25 -0.2% Deposit volume 4 Lending volume 20 Net effect margins and funding costs -56 Day count effect 32 Foreign exchange effects 92 Deposit guarantee fee -1 Other 26 Home markets outside Sweden 117 1.2% Net of funding costs and allocation to business segments 2 Day count effect -51 Foreign exchange effects 20 Other -24 Group Treasury and other units -53 -0.5% Change in NII 43 0.4% Net interest income Q3 2026, SEK m 10,051 Summary of changes: Volumes in home markets 87 0.9% Net margins and funding -194 -1.9% Day count effect 31 0.3% Deposit guarantee fee 0 0.0% Foreign exchange effects 112 1.1% Other 7 0.1% 20 Net effect of margins and funding costs SEK - 194m
Page 21
341 429 534 395 420 15 535 570 602 393 1,087 579 750 580 626 1,147 501 - 64 573 676 547 116 515 -800 -600 -400 -200 0 200 400 600 800 1,000 1,200 Other, incl realisations Funding and liquidity management Markets CVA/DVA Home markets + Markets Net NFT NFT 21 0 100 200 300 400 500 600 700 Home markets Markets Average Q121 - Q326: SEK - 11m Average Q121 - Q326: SEK +5m SEK m SEK m * Funding effects in Stadshypotek reported in ”Funding and liquidity management” Customer driven NFT Home markets* and Markets
Page 22
Asset quality Expected credit losses Stage 3, net -18 -100 -80 -60 -40 -20 0 20 Q325 Q425 Q126 Q226 Q326 Credit losses -18 11 -1 3 -20 0 20 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 -80 -70 -60 -50 -40 -30 -20 -10 0 10 20 30 Q325 Q425 Q126 Q226 Q326 22 • Rating migrations SEK - 13m • Better quality on new loans compared to exits SEK - 2m • Other (incl. effects from loan durations and migrations to stage 3) SEK 13m SEK m SEK m SEK m
Page 23
Change in CET1 - ratio from previous quarter CET1 - ratio 17.0 17.2 0.7 0.0 0.1 0.8 16.0 16.5 17.0 17.5 18.0 18.5 19.0 19.5 Q2 2026 Earnings for the period Volume development Currency effects, net Anticipated dividends Q3 2026 REA 830 812 4 11 1 1 2 2 790 795 800 805 810 815 820 825 830 835 Q2 2026 Volume development Migrations and model updates Currency effects, REA Structural FX positions Claims on investment banking settlements Other Q3 2026 23 % SEK bn Incl . CVA, other and roundings Incl .: ▪ Sovereigns, central banks and municipalities from IRB to standardised model ( - 10bn) ▪ New PD models for corporate exposures (+9bn) ▪ Credit risk migrations ( - 0.6bn) ▪ Portfolio composition ( - 3.0bn) ▪ Floor effects (+0.9bn)
Page 24
Disclaimer 24 • 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.