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© Swedbank 4 June 2025
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© Swedbank 2 Magnus Alvesson, Acting Head of Investor Relations Jens Henriksson, President and CEO Anna-Karin Laurell, Head of Swedish Banking Malin Lilliecrona, Head of Premium and Private Banking Bo Bengtsson, Head of Corporates and Institutions Olof Sundblad, Head of Baltic Banking Jon Lidefelt, Chief Financial Officer
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© Swedbank 3 Swedbank 15/27 Swedish Banking Premium and Private Banking Break Corporates and Institutions Baltic Banking Financial plan Break Q&A
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© Swedbank 4 Overview Backdrop Outlook Swedbank 15/27 Sparbankerna50+ Swedish savings banks Shared logo Distribution Shared costs Private customers Corporate customers App log-ins per month offices Sweden and rest of Nordics Estonia, Latvia, and Lithuania Interactions per minute Branch offices Strategic Direction Nordic partnerships with Sparebank1, Aktia, and Sydbank
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© Swedbank An attractive workplace for employees with a culture based on inclusion and accountability An efficient, profitable and compliant bank and financial services platform A standardised, scalable and stable infrastructure ● By providing guidance on your terms ● By helping you to be more sustainable ● By supporting you in a proactive way ● By making the difficult simple 5 Overview Backdrop Outlook Swedbank 15/27Strategic Direction
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© Swedbank 6 Overview Backdrop Outlook Swedbank 15/27Strategic Direction 1) Income CAGR in excess of cost CAGR Financial target Supporting KPIs 0.40 2023-2025 C/I ratio 0.34 2024 C/I ratio 200bps 2025 CET1 buffer 460bps 2024 CET1 buffer 3pp p.a. 2021-2025 average jaw1) 9pp p.a. 2021-2024 average jaw1) Business focus Physical advisory meetings 2025 (SE) Digital advisory meetings 2025 (SE) Mid-sized corp. mkt. share 2025 (SE) Corp. lending mkt. share 2030 (LT, LV) Customers w. LT savings 2030 (Baltics) Front-line staff time spent on advisory 2025 (Baltics & SE corp.) = Indicative progress
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© Swedbank 7 Overview Backdrop Outlook Swedbank 15/27Strategic Direction 1) Income CAGR in excess of cost CAGR Financial target Supporting KPIs 0.40 2023-2025 C/I ratio 0.34 2024 C/I ratio 200bps 2025 CET1 buffer 460bps 2024 CET1 buffer 3pp p.a. 2021-2025 average jaw1) 9pp p.a. 2021-2024 average jaw1) Business focus Assisted advisory meetings 2025 (SE) Digital advisory meetings 2025 (SE) Mid-sized corp. mkt. share 2025 (SE) Corp. lending mkt. share 2030 (LT, LV) Customers with savings 2030 (Baltics) Front-line staff time spent on advisory 2025 (Baltics & SE corp.) = Indicative progress
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© Swedbank 8 Overview Backdrop Outlook Swedbank 15/27Strategic Direction ● Geopolitical tensions ● Increased need for defence-related financing ● Weakened global growth ● Our home markets stand strong ● Impact on societal risk and resilience ● Accelerated need for energy transition
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© Swedbank 9 Overview Backdrop Outlook Swedbank 15/27Strategic Direction ● Data-driven model ● Tailored products and services ● Full-service offering as competitive advantage ● Renewable energy ● Infrastructure ● Technology
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© Swedbank 10 ● Personalisation ● Availability ● Customer experience ● Leverage customer relationships ● Daily banking and asset management ● Strict credit standards ● Technology and AI ● Simplify processes ● Restrictive hiring Overview Backdrop Outlook Swedbank 15/27Strategic Direction
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© Swedbank 11 Swedish Banking Premium and Private Banking Break Corporates and Institutions Baltic Banking Financial plan Break Q&A
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© Swedbank 65% 29% 6% NII NCI NGL & other Profit LoansSB Other business areas 12 13% 14% 20% 22% Peer Peer Peer Swedbank 10% 12% 17% 18% Peer Peer Peer Swedbank 10% 10% 12% 21% Peer Peer Peer Swedbank Note: As per April 2025 1) Full private customer business in Sweden, including Premium and Private Banking 2) Swedbank Robur total ● Personal finance and budgeting ● Purchasing a home ● Saving for the future ● Cards and payments ● Insurance ● Pension planning 1) 1) 2) Swedish Banking Key takeawaysPlan until 2027 Note: Figures as of FY2024
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© Swedbank 0% 20% 40% 60% 80% 100% Jan-2024 May-2024 Sep-2024 Jan-2025 May-2025 Sep-2025 Jan-2026 May-2026 Sep-2026 Jan-2027 May-2027 Sep-2027 13 ● Increased availability ● 80% of calls to be answered within 3 minutes ● Increased self-service enabled by education and development ● Reduce assisted service interactions by half ● Omnichannel transformation Number of calls answered within 3 min Number of assisted service interactions Swedish Banking Key takeawaysPlan until 2027 2022 2023 2024 2025 2026 2027 59% May 20251) 2024 2025 2026 2027 In-person Remote Digital self-service Automated service 1) Until May 25th
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© Swedbank Market share1) Potential in Swedbank’s customer base Market share ambition 14 ● Customer-facing staff have more time for advisory ● Data-driven proactivity to automatically serve unmet financial needs ● Sales within previously unprofitable areas ● Increase number of digital sales by 50% Swedbank Others Increase / maintain Increase IncreaseIncrease / maintain 700 000 have their mortgage with another bank 1 200 000 without adequate monthly savings 400 000 with monthly savings in niche savings institutions 900 000 without risk and life insurance from Swedbank Key takeawaysPlan until 2027Swedish Banking 1) As per April 2025 2) Life insurance market share per Q1 2025. Measured as paid premiums rolling 12 months
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© Swedbank 15 ● Continue to optimise ways of working ● Leverage process and platform improvements ● Implement AI for efficiencies in service and advisory 2027 Key takeawaysPlan until 2027 New ways of working Improved platforms and digital solutions Increased productivity with automation and AI Swedish Banking
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© Swedbank 16 By 2027 Target level Increase availability 80% of calls answered within 3 min Number of assisted service interactions -50% from 2024 Number of digital sales +50% from 2024 Market share in mortgages and deposits Maintain or increase Market share in mutual funds and insurance Increase ● Increase availability ● Cost-efficient customer centricity ● Individualised proactive offers and advice available to all customers ● Optimise cost-to- serve through AI, continued digitalisation and automation Key takeawaysPlan until 2027Swedish Banking
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© Swedbank 17 Premium and Private Banking Break Corporates and Institutions Baltic Banking Financial plan Break Q&A
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© Swedbank ● Proactively serve the entire family ● Support generational shifts ● Entrepreneur / business owner services ● Corporates – Excess liquidity – Pension plans ● Personal advisor ● Financial planning ● Specialist access 18 Profit LoansP&PB Other business areas 49% 50% 1% NII NCI NGL & other Premium and Private Banking Key takeawaysPlan until 2027 Note: Figures as of FY2024
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© Swedbank 19 80% 35% ● Anticipate needs and life events ● Proactive offers and insights ● External awareness ● Tailored communication ● Hybrid service model ● Broader offering ● New specialist skills ● Relevant insights Affluents without personal advisor P&PB concept customers %, share of customers that want Swedbank to be more proactive Premium and Private Banking Key takeawaysPlan until 2027
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© Swedbank higher product penetration higher CSI score income from savings & investments 20 %, Swedbank concept penetration among existing affluent customers No concept “Key customer” Premium and Private Banking 30% 55% 15% ● Double the number of concept customers by 2027 ● Grow income per customer – Financial planning – 25% discretionary investment solution coverage by 2027 – New products & services Key takeawaysPlan until 2027Premium and Private Banking
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© Swedbank ● Efficient advisory tools ● Less time spent on administration ● Streamlined ways of working ● AI-tools ● Online meetings ● Self-service functionality in the app ● Discretionary investment solution 21 Key takeawaysPlan until 2027 Premium and Private Banking
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© Swedbank 22 By 2027 Target level Discretionary investment solution coverage 25% Number of customers per advisor +50% Number of concept customers +100% ● Tailored and personal customer experiences ● Income growth through concept penetration and cross-sales ● Increased operational efficiency to serve more customers Key takeawaysPlan until 2027Premium and Private Banking
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© Swedbank 23 Break Corporates and Institutions Baltic Banking Financial plan Break Q&A
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© Swedbank 24 Corporates and Institutions Baltic Banking Financial plan Break Q&A
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© Swedbank Note: Figures as of FY2024 25 NII NCI NGL & other 68% 21% 11% Profit LoansC&I Other business areas 1) As per April 2025. Full corporate business in Sweden, including Swedish Banking and Premium and Private Banking 2) Prospera 3) Lantbruksbarometern Sustainability advisory institutions & real estate2) Market share in forestry & agriculture3) Client satisfaction, real estate2) Market share, real estate1) Lending market share (SE)1) Deposit market share (SE)1) Trusted advisor and lender to key Swedish authorities and institutions Corporates and Institutions Key takeawaysPlan until 2027
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© Swedbank 261) Share of corporates with revenue above SEK 10m with which Swedbank has a lending or payments relationship 2) Together with the savings banks Relationships with 1) of corporates in Sweden Business Community representatives in each municipality in Sweden2) 500 Client Executives across three client units ● Positive momentum in corporate lending ● Increased number of client meetings across segments ● Increase client activity – Leverage full offering – Sales Excellence – New clients ● Gain 1.5pp corporate lending market share Corporates and Institutions Key takeawaysPlan until 2027
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© Swedbank 27 Share of ancillary income Return on equityLarge & Mid corporates Small corp. Size proportionate to total income (illustrative) ● Strengthen offering ● Significant potential to grow share of wallet ● Leverage AI and analytics ● Increase client satisfaction – Prospera rank 1 for real estate, and at least rank 2 for institutions Non-CM CMNon-cash management customer Cash management customer Return on equity, % Position shift potential SME Key takeawaysPlan until 2027Corporates and Institutions
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© Swedbank 28 By 2027 Target level Corporate lending market share (long-term ambition beyond 2027) +1.5pp from 2024 Client activity Positive development Prospera rank for Real Estate Rank 1 Prospera rank for Institutions Rank 2 (at least) ● Create customer value with proven service model ● Invest in corporate offering to grow share of wallet ● Leverage improved ways of working Key takeawaysPlan until 2027Corporates and Institutions
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© Swedbank 29 Baltic Banking Financial plan Break Q&A
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© Swedbank Leading market shares A mobile-first bank for private customers Meeting varied needs of corporate customers ● Serving small, medium and large enterprises ● Diversified across industries ● Balanced presence in the three Baltic countries Most loved brand in the Baltics for the 6th year in a row3) NII NCI NGL & other 78% 15% 7% Profit LoansBB Other business areas Mobile users1) Mobile flow2) 39% 45% 39% 30% 33% Private loans Private deposits Pension 2nd pillar 30 Corporate loans Corporate deposits Note: Market share figures as of Q4 2024 1) % of active customer base (private) in 2024 2) % of total flow, i.e. customer usage and visits regardless of channel, in 2024 3) Source: Baltic Brand Forum 2024, based on Brand Capital research data Baltic Banking Key takeawaysPlan until 2027 Note: Figures as of FY2024
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© Swedbank 31 70 65 71 High competence and reliability as the strongest brand associations Savings & Investments Insurance Financing Daily banking tNPS1) 2024, # 1) Net Promoter Score (NPS) measured after a specific interaction or transaction, scale ranges from -100 to 100 Baltic Banking Key takeawaysPlan until 2027
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© Swedbank Growing mortgage penetration % of homeowners, 20231) Mortgages EUR bn Other private lending EUR bn 32 ● Maintain market shares in mortgage and other private lending ● Baltic markets – Low leverage – Increasing mortgage penetration 0% 25% 50% 75% 100% With mortgage Without mortgage 1) Source: Eurostat 8.3 11.4 2019 2024 Low household debt % of GDP, 20231) Δ last 5 years, pp: +6 +2 +5 0 1.6 2.4 2019 2024 Key takeawaysPlan until 2027Baltic Banking
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© Swedbank Life insurance EUR bn, total volume insured P&C insurance EUR m, revenue ● Grow P&C and Life insurance through proven bancassurance model ● Grow combined insurance business by 25% by 2027 33 0% 1% 2% 3% 4% 5% Avg. 1) Source: EIOPA P&C and Life, share of GDP, 20221) 131 216 2019 2024 4.7 9.8 2019 2024 Key takeawaysPlan until 2027Baltic Banking
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© Swedbank Households’ financial assets % of GDP, 20241) ● Educational and promotional campaigns to foster savings ● Make non-deposit savings affordable and available to retail customers ● Grow customers with long- term savings by 60% by 2030 34 Assets under management EUR bn Long-term savings Number of Swedbank customers (thousands) 5.6 10.4 2019 2024 440 480 560 900 2022 2023 2024 2030 2x 1) Source: Eurostat. Note: For EU average, data from 2023 Insurance, pensions & standardised guarantees Investment funds & listed equities Currency and deposits Key takeawaysPlan until 2027 0% 100% 200% Baltic Banking
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© Swedbank Corporate lending sector split 2024, % 35 M&A, equity capital markets Intl. trans- actionsDaily banking and beyond Investment loans, working capital Basic hedging, trade finance Localized operations Intl. suppliers Expansion Intl. customers Public listing Property management Public sector & utilities Manufacturing Retail Other corporate lending Key takeawaysPlan until 2027Baltic Banking
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© Swedbank ● Market share ambition of 25-30% reached in LT, postponed in LV ● Leading in corporate lending in EE, LV2), and LT ● Maintain leading corporate deposit market share ● Support selected Baltic customers with financing needs in Poland 36 0% 25% 50% 75% 100% Avg. 7.9 11.3 2019 2024 Corporate lending EUR bn Corporate deposits EUR bn 9.4 13.7 2019 2024 Corporate debt Share of GDP, 20231) 1) Source: Eurostat. Note: excluding monetary financial institutions 2) Ambition in Latvia subject to bank tax considerations Key takeawaysPlan until 2027Baltic Banking
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© Swedbank 2019 2024 Nr of high-value product sales Monthly nr of sales per FTE 23 27 Share of digital sales 78% 82% 37 Automation 0.8m 1.1m ● Enhance digital distribution model with leading banking mobile app ● Scale automated lending products ● Apply AI to a wide variety of processes ● Simplify internal processes to release resources for prioritized business needs Simplified processes Mobile-first Key takeawaysPlan until 2027Baltic Banking
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© Swedbank 38 1) Ambition in Latvia subject to bank tax considerations 2) Maintained ambition in line with the target to double from a 2022 baseline By 2027 Target level Private lending market share Maintain Corporate lending Leading in EE, LV1) and LT Grow insurance business +25% from 2024 Number of customers with long-term savings +60% by 20302) from 2024 ● Enhance interactions and offering for private and corporate customers ● Leverage leading position ● Strong Baltic market tailwinds ● Drive savings culture and strengthen cash management ● Grow insurance business ● Digital distribution ● Automation and simplified processes Key takeawaysPlan until 2027Baltic Banking
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© Swedbank 39 Financial plan Break Q&A
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© Swedbank 40 % # 0.44 0.40 0.33 0.34 2021 2022 2023 2024 13.2% 13.0% 18.3% 17.1% 2021 2022 2023 2024 +3.9pp Macro outlook Volumes Income Costs Capital ProfitabilityTrack record SEK (after dilution) 18.56 18.98 30.27 30.86 2021 2022 2023 2024 18.5% CAGR-0.10
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© Swedbank 41 90 95 100 105 110 115 120 125 130 2019 2020 2021 2022 2023 2024 2025 2026 Seasonally adjusted, indexed at 100 at Dec-2019 % Macro outlook Volumes Income CostsTrack record -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 2019 2020 2021 2022 2023 2024 2025 2026 CPI, YoY CAGR 2024-26E 2.2% Baltics 2.0% Sweden Source: Swedbank forecast, May 2025 -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 2019 2020 2021 2022 2023 2024 2025 2026 Euribor 6M 10Y SE gov’t bond Stibor 3M Capital Profitability
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© Swedbank 42 ● At least maintain mortgage market shares in all home markets ● Grow corporate lending market share in Sweden ● Deposit growth in line with market Indexed, 2019 = 100 Indexed, 2019 = 100 Macro outlook Volumes Income Costs Capital ProfitabilityTrack record 60 100 140 180 220 2019 20 21 22 23 24 25 26 27 60 100 140 180 220 2019 20 21 22 23 24 25 26 27 Source: Swedbank Macro Research (2025-27E). 1) Weighted average of Estonia, Latvia and Lithuania Mortgage, SE Mortgage, Baltics1) Corporate lending, SE Corporate lending, Baltics1) Private deposits, SE Private deposits, Baltics1) Corporate deposits, SE Corporate deposits, Baltics1) 3% 3% 10% 8% 6% 6% 10% 9% CAGR 2024-27 CAGR 2019-24 3% 3% 8% 7% 4% 5% 7% 7% CAGR 2024-27 CAGR 2019-24
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© Swedbank -100 0 100 200 300 400 80 100 120 140 160 180 200 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 ● Strong and diversified deposit base ● Resilient deposit volumes across segments 43 Macro outlook Volumes Income CostsTrack record bps NIM (l.h.s. axis) Euribor 6M (r.h.s. axis) Stibor 3M (r.h.s. axis) Source: Swedbank forecast, May 2025 Capital Profitability
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© Swedbank ● Large share of AuM in equities ● Substantial income from partnership with savings banks ● Net insurance growth focus Macro outlook Volumes Income CostsTrack record 0 2 4 6 8 10 12 14 16 18 20 2019 2020 2021 2022 2023 2024 Asset management and custody Cards Other net commission income SEK bn 0 1 2 3 4 5 6 2019 2020 2021 2022 2023 2024 Income from services to savings banks AssociatesNet insurance SEK bn Capital Profitability 44
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© Swedbank ● Continuous efficiency improvements to mitigate cost headwind ● Investments to grow profit over time 45 Macro outlook Volumes Income CostsTrack record Year n Profit before impairments and tax Year n+1 Profit before impairments and tax Efficiencies Increase in investment pace Income growth in stable rate environment SEK, illustrative Profit growth Capital Profitability Cost headwind
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© Swedbank Temp. external hiring freeze1) Annual cost headwind to be partly mitigated by efficiency gains ● Temporarily higher investments of SEK 1bn in 2024-2025 ends ● Focus on balancing resources between group functions and business areas (including consultancy usage) 46 Macro outlook Volumes Income CostsTrack record # SEK bn and # 15 000 15 500 16 000 16 500 17 000 17 500 2021 2022 2023 2024 2025 20.8 20.8 24.1 25.4 0.44 0.40 0.33 0.34 ≤ 0.40 2021 2022 2023 2024 2027 Expenses Cost-to-income ratio 16 933 Q1 25 Capital Profitability 1) With business-critical exemptions
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© Swedbank 47 450 50 300 200 -200 -400 CET1 buffer Q1 2025 IRB models Profit net of 70% dividend policy1) Organic lending / asset growth Excess capital CET buffer 2027 bps (rounded) 1) Assumed pay-out ratio of 70% for illustrative purposes. Swedbank’s dividend policy is 60-70% and proposed dividends are subject to approval at the Annual General Meeting. ● IRB models net impact of at least 50bps ● 14.2% CET1 requirement assumed in 2027 ● 200bps CET1 buffer target Macro outlook Volumes Income CostsTrack record Capital Profitability
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© Swedbank ● Volume growth ● Ancillary income growth ● Cost discipline ● CET1 buffer of 200bps 48 17.1% ≥15% RoE 2024 NII rate effect NII volumes Ancillary income Expe- nses Bank tax Credit impair- ments Capital gener- ation 70% annual divid- end1) Excess capital reduc- tion RoE 2027 Macro outlook Volumes Income Costs Capital ProfitabilityTrack record 1) Assumed pay-out ratio of 70% for illustrative purposes. Swedbank’s dividend policy is 60-70% and proposed dividends are subject to approval at the Annual General Meeting.
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© Swedbank 49 Break Q&A
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© Swedbank 50
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© Swedbank 51 By 20271) Target level SB Increase availability 80% of calls answered in 3min Number of assisted service interactions -50% from 2024 Number of digital sales +50% from 2024 Market share in mortgages and deposits Maintain or increase Market share in mutual funds and insurance Increase P&PB Discretionary investment solution coverage 25% Number of customers per advisor +50% Number of concept customers +100% C&I Corporate lending market share +1.5pp2) from 2024 Client activity Positive development Prospera rank for Real Estate Rank 1 Prospera rank for Institutions Rank 2 (at least) BB Private lending market share Maintain Corporate lending Leading in EE, LV3) and LT Grow insurance business +25% from 2024 Number of customers with long-term savings +60% by 20304) from 2024 1) Unless stated otherwise 2) Long-term ambition beyond 2027 3) Ambition in Latvia subject to solidarity tax considerations 4) Maintained ambition in line with the target to double from a 2022 baseline
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© Swedbank ● Certain statements made in this presentation are forward looking statements. Such statements are based on current expectations and are subject to several risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance, expressed 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. Swedbank AB assumes no responsibility to update any of the forward- looking statements contained herein. ● No representation or warranty, expressed or implied, is made or given by or on behalf of Swedbank AB 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 Swedbank AB 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 Swedbank AB, 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. 52