Slides
Page 1
Third quarter results 1 2026
Page 2
© Swedbank Economic outlook 2 Global development ● Resilient global economy despite war and high energy prices ● AI investments support global growth Home markets ● Strong economic fundamentals ● Growth in Sweden, Estonia, Latvia and Lithuania 2 - 3 per cent in 2026
Page 3
© Swedbank Key highlights Q3 3 C/I ratio 0.41 Return on equity 15 .6 per cent Net profit SEK 8.2bn Earnings per share SEK 7.30 Credit impairment ratio - 14 bps CET1 buffer 215 bps
Page 4
© Swedbank Swedbank 15/27 4 Increase our efficiency Grow our business volumes Strengthen our customer interactions
Page 5
© Swedbank Private customers 5 6 per cent mortgage volume growth in Baltic Banking Strong net inflows to Robur and Swedbank Försäkring In Sweden, 19 per cent mortgage market share in own channels
Page 6
© Swedbank Corporate customers 6 Corporate lending grew by SEK 12bn High proactivity and customer focus
Page 7
77 Gimi app The Oak - our AI assistant Most loved brand in the Baltics
Page 8
© Swedbank Income statement 8 ● Net profit SEK 8.2bn ● Return on equity 15.6 per cent, 16 per cent adj.2) ● Cost/Income ratio 0.41, 0.37 adj.2) ● EPS after dilution, SEK 7.30 SEKm Q3 2026 Q2 2026 ▲ Net interest income 11 568 11 276 3% Net commission income 4 704 4 462 5% Net gains and losses 601 1 060 -43% Other income 1 114 1 306 -15% Total income 17 986 18 104 -1% Total expenses 7 417 7 854 -6% of which extraordinary costs1) 673 860 n.a Profit before impairments 10 569 10 250 3% Credit impairments -701 313 n.m Bank taxes and resolution fees 730 786 -7% Profit before tax 10 541 9 151 15% Tax 2 292 1 956 17% Net profit 8 249 7 195 15% 1) Extraordinary costs of SEK 190m and settlement fee with DFS, SEK 483m 2) Excluding extraordinary costs and the sale of Entercard non-performing loan portfolio
Page 9
© Swedbank 1 930 11 12 1 953 12 1 965 Q2 2026 Sweden Baltic Banking Q3 2026 excl. FX FX Q3 2026 Lending volumes 9 Group, SEKbn +23 Baltic Banking 2) , SEKbn 320 6 5 332 Q2 2026 Private Corporate Q3 2026 Sweden 1,2) , SEKbn 1 610 8 3 1 621 Q2 2026 Private Corporate Q3 2026 QoQ +3.7% QoQ +0.7%QoQ +2% 1) Sweden including Swedish Banking, Wealth Management, Corporates and Institutions (excluding lending from Group Treasury) 2) Excluding FX 1)1)
Page 10
© Swedbank -13 1 331 7 1 325 12 1 337 Q2 2026 Sweden Baltic Banking Q3 2026 excl. FX FX Q3 2026 Deposit volumes 10 QoQ +0% Group, SEKbn Baltic Banking 2) , SEKbn 461 2 5 468 Q2 2026 Private Corporate Q3 2026 Sweden 1,2) , SEKbn -2 -11 870 857 Q2 2026 Private Corporate Q3 2026 QoQ +1.4% QoQ -1.5% 1) -6 1) 1) Sweden including Swedish Banking, Wealth Management, Corporates and Institutions (excluding Group Treasury) 2) Excluding FX
Page 11
© Swedbank -54 -25011 276 581 15 11 568 Q2 2026 Lending income Deposit expense Cash with central banks & other assets Wholesale funding & other liabilities Q3 2026 Net interest income 11 NII development, SEKm QoQ +3% ● NII supported by higher business volumes and higher ECB rates ● Increased funding cost +292 NII impact from SEKm Business volumes 116 FX 85 Day count 71 Interest income Interest expense
Page 12
© Swedbank 4 462 178 16 5 43 4 704 Q2 2026 Asset Management Cards & Payments Insurance Other Q3 2026 Net commission income 12 NCI development, SEKm QoQ +5% ● Asset management increased due to strong stock market performance, − Positive FX effects and net inflow of SEK 8bn ● Seasonally higher income from cards ● Stable insurance business ● Other – supported by service concepts and lending fees +242
Page 13
© Swedbank Net gains and losses 13 ● High business activity, mainly driven by Fixed income and FX ● Negative revaluations in Treasury largely offset by positive share performance in strategic holdings NGL distribution, SEKm -77 -15 422 252 19 601 FX sales & trading Fixed income and Equity sales & trading DCM Treasury Other Total NGL Q3 2026
Page 14
© Swedbank -48 -177 1 306 29 4 1 114 Q2 2026 Insurance underlying business Insurance revaluations Associates Other Q3 2026 Other income 14 ● Lower net insurance due to higher claims and negative revaluations ● Higher results from partly owned companies (Associates) ● Income from services sold to savings banks included in Other Other income development, SEKm -225 Net insurance QoQ -15% -193
Page 15
© Swedbank 7 854 7 417 6 994 6 744 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Underlying costs1) Costs 15 ● Costs seasonally lower ● Extraordinary costs of SEK 673m – SEK 190m (YTD SEK 1.05bn) – In total SEK 1.3bn announced for 2026 – Settlement fee with DFS of SEK 483m ● Underlying costs down by almost 4 per cent Costs by quarter, SEKm FX SEKm QoQ 44 1) Underlying costs, excluding extraordinary costs of SEK 860m in Q2 and SEK 673m in Q3 Costs QoQ -6% C/I – ratio1) -4% 0.39 0.370.36 0.35 0.36 0.40 0.43 0.41 C/I – ratio Costs by quarter, SEKm
Page 16
© Swedbank 26 1 8 9 -1 0 -1 2020 2021 2022 2023 2024 2025 YTD Q3 2026 Credit impairments 16 ● Solid asset quality ● -14 bps credit impairment ratio in Q3 ● Improved macro scenario ● Rating & stage migrations – primarily from a few re-rated corporates ● Post model adjustment decreased to SEK 93m ● Individual assessment – adjustments on few customers (move from stage 3 to stage 2) ● Entercard – main impact the 543m revaluation from sale of the non- performing loan portfolio SEKm Macro scenarios Rating & stage migrations Post model adjustments Individual assessment Other, incl. repayments & write-offs Total credit impairments, Q3 Credit impairment ratio, bps Entercard -216 -701 420 -70 -265 -149 -421
Page 17
© Swedbank 17.4% 17.2% 15.1% 0.3% -0.3% -0.1% -0.1% Q2 2026 Profit after anticipated dividend Credit growth FX Other Q3 2026 CET1 capital ratio requirement Common equity tier 1 capital 17 ● CET1 capital ratio of 17.2 per cent ● REA increased by SEK 24bn due to increased lending ● Pillar 2 requirements increased by 23 bps from SREP 2026 ● 100-300bps capital buffer range CET1 capital ratio development, per cent 215bps buffer1) 1) Above Pillar 2 Guidance 2) Capital requirements increased from SREP 2026 by 23 bps 3) Credit risk 2) 3)
Page 18
© Swedbank Estimated CET1 buffer impacts 18 Swedish mortgage model P2R to P1 Sovereign exposures from IRB to standardised Entercard, non-performing loans Entercard, performing loans Baltic corporate model, Article 3 add-on ● IRB approvals – Swedish mortgage model – Baltic corporate model ● Pillar 2 requirement move of remaining IRB add-on to Pillar 1 Q4 2026 Q1 2027 +75 bps -15 bps Calculated based on end of Q3 2026 pro forma balance sheet and above Q4 2026 expected capital requirements 15.1% 14.1% 14.1% -1.0% Q3 2026 P2R IRB Q4 2026 Q1 2027 CET1 capital ratio req. and buffer 215 290 275
Page 19
© Swedbank CET1 buffer 215 bps Return on equity 15.6 per cent 19 C/I ratio 0.41 Well positioned for growth and profitability
Page 20
Appendix 2 0
Page 21
© Swedbank SEK 700bn deposits reprice immediately on rate changes SEK 680bn equity and zero-interest rate funding NII sensitivity 21 Interest - bearing items and equity, Group SEKbn (rounded), Q3 2026 640 970 60 990 Assets 1 170 280 420 180 470 220 Liabilities © Swedbank = Administrative rate pricing = Base rate pricing Swedish mortgages Other adm. lending Market rate connected lending Cash & cash equivalents Equity Transaction deposits Term deposits Savings deposits Market rate connected deposits Market funding … o f which in Estonia, Latvia and Lithuania SEKbn (rounded), Q3 2026 SEK 100bn deposits reprice immed. 140 360 Assets SEK 330bn equity and zero-interest rate funding 10 50 50 90 280 60 Liabilities Equity Transaction deposits Term deposits Savings deposits Market rate connected deposits Market funding Market rate connected lending Cash & cash equivalents ● +50bps = SEK +3.0bn NII (of which SEK +1.5bn in the Baltic countries) -50bps = SEK -4.3bn NII (of which SEK -1.5bn in the Baltic countries) (fully priced in) Assuming zero passthrough on transaction deposits and full passthrough on all other assets and liabilities down to a floor of 0% rates.
Page 22
© Swedbank A programme for more business and lower costs 22 ● Focused card strategy ● Focused consumer finance strategy ● Competence shift, streamlining, efficiency ● SEK 1.3bn extraordinary costs ● Divestment of PayEx ● Continued investments offset by synergies ● FTE ~16 8001) by year- end ● SEK 1bn in lower run- rate by year-end 2028 2026 2027 2028 -> 1) Excluding divestment of PayEx 15-25bps CET1benefit
Page 23
© Swedbank Entercard consumer finance divestments 23 ● Divestment of SEK 4bn1) expected to close in Q4 2026 – Positive revaluation of expected credit losses of SEK 543m in Q3 2026 – Approx. SEK 100m lower annual net interest income2) – A CET1 ratio benefit of approx. 3-5bps ● As of Q1 2026, classified as held for sale in the balance sheet (no PnL effect) Non - performing loan portfolio ● Divestment of SEK 7bn, expected to close in Q1 2027 – Approx. SEK 500m lower annual net interest income2) – A CET1 ratio benefit of approx. 7-10bps – Portfolio migration planned to start during Q4 2026, pending regulatory approval – Expected net positive PnL effect of approx. SEK 100- 300m – Financial effects dependent on when portfolio migration occurs ● As of Q1 2026, classified as held for sale in the balance sheet (no PnL effect) 1) Expected to close in Q4 2026 2) Based on FY 2025 numbers Performing loan portfolio
Page 24
© Swedbank Liquidity reserve Total, SEK 595bn 160% 121% Liquidity Coverage Ratio Net Stable Funding Ratio 159% Overcollateralisation (Cover pool) >12m Survival horizon Liquid assets by issuer Q3 2026, SEKbn Liquid assets by currency Q3 2026, SEKbn SEK EUR USD OTHERCash and balances with central banks Sovereigns, central banks or multilateral development banks1 Municipalities or public service entities Extremely high-quality covered bonds High-quality covered bonds 24 1) Held at Fair Value through PnL, except for holdings of central bank issued certificates of SEK 95bn that is held at Amortised Cost. 273 201 8 90 15 341178 75 1
Page 25
© Swedbank ● Robust capital generation ● Dividend payout ratio of 60-70 per cent ● Normalised CET1 capital ratio buffer of 200bps ● RoE of at least 15 per cent ● C/I ratio not above 0.40 ● Ensure long-term shareholder value 25 Swedbank 15/27