Citi Global Financial Conference Hong Kong, 19 November 2013

Hanse Ringström, Chairman SEB Asia

Ulf Grunnesjö, Head of Investor Relations

1

London

S:t Petersburg

Geneva

Hong Kong Shanghai New Delhi Beijing

Kiev

Dublin

Moscow Denmark

Norway

Finland

Sweden

New York

São Paulo

Singapore

Lithuania

Latvia

Estonia

Germany Warsaw

Luxemburg

SEB – the Nordic corporate bank with a global reach

Income distribution per country Income distribution per segment

Private

Corporate

2012 2012

Sweden RoW

Baltics

Germany

Norway Denmark

Finland

SEK 39bn SEK 39bn

2

…operating in a stable region

Source: Eurostat Graphics: Stefan Rothmaier, Dagens Nyheter

3

London

S:t Petersburg

Geneva

Hong Kong Shanghai New Delhi Beijing

Kiev

Dublin

Moscow Denmark

Norway Finland

Sweden

New York

São Paulo

Singapore

Lithuania Latvia

Estonia

Germany Warsaw

Luxembourg

A Nordic bank with global reach Following in our customers’ footprint

Northern Europe 25.5%

RoW 14.5%

Asia 14%

Nordics 28%

Note: Sales of 120 largest listed Swedish corporates Source: Annual reports 2011

SEB Asia • 35 years presence • 600 clients • 200 staff on the ground

4

Emerging market exposure

1

1) Based on assets (not sales) Source: Annual reports, APEA analysis and estimates. 2010 except Finnish cos 2012

Kone 30%

Wärtsilä 38%

Cargotec 39%

Nokia 45%

5

Singapore (branch) – 115 staff • Established 1978

• Offer: Lending, Trade Finance, Cash Management, Foreign Exchange, Shipping, PAEF to corporates and financial institutions in SE Asia.

• Private Banking to individuals in Asia

Shanghai (branch) – 46 staff • Established 2005

• Offer: Lending, Trade Finance, Cash Management and Foreign Exchange to corporates in China

Asia sites development

Beijing (rep) – 4 staff • Established 1983

• Assist SEB Shanghai by covering northern China

New Delhi (rep) – 4 staff • Established 2008

• Focus on assisting SEB corporate clients in India

Hong Kong (branch) – 35 staff • Established in 2011

• Offer: Lending, Trade Finance, Cash Management, Foreign Exchange, Capital Markets, Futures, Securities Finance and DMA Equities to corporates and financial institutions in Hong Kong, Korea, Taiwan and the rest of Asia.

Enhanced offer

“Close co-operation with home markets and between Asia sites,

offers clients a seamless customer experience across

Asia.”

Strong presence in Asia 5 Sites and 200 staff

6

SEB’s main markets Economic fundamentals remain relatively robust

Lithuania

Denmark

Norway Finland

Sweden Latvia Estonia

Germany

Nordic GDP development *

Eurozone GDP development *

-20-15-10-505

1015

2007 2008 2009 2010 2011 2012 2013E 2014E

Germany Estonia Latvia Lithuania

German and Baltic GDP development *

* Source: SEB Nordic Outlook, August 2013

%

%

Lithuania

%

7

8

Profitable growth of customer franchise

Long-term stability

Financial targets

1 2 3

8

Creating customer value!

*Source: Loyalty study 2010. SEB, McKinsey & Co, TNS-SIFO **Source: Loyalty study 2012. SEB

Committed facilities

Trust & focus on customer needs

Execution & advisory

Large corporates Sweden* Private individuals Sweden*

31%

19%

16%

Brand

Customer knowlegde

Service Brand & image

Relationship and accessibility

High

Low (hygiene factor)

Customer knowledge

SME 50-200 Sweden**

High

Low (hygiene factor)

Products & services

Offering 11%

11%

Tailor made offerings

Price

Daily support & interaction

Price

Profitability

9

Increased customer satisfaction

Best Large Corporate bank Nordics

Corporate Bank Sweden Swedish Quality Index

Baltic Corporate Net Promoter Score (avg.)

Avg. Swedish peers SEB

#2

SEB SEB SEB SEB

Private Banking Net Promoter Score

#3 #4

Profitability

10

Continued building of customer franchise

Large Corporate Nordics & Germany

SME Sweden

Private Sweden

2013 Sep YTD

New customers

Since 2010

New full-service customers

Since 2010

Commodities

FX Custody

M&A

Cash Mgmt.

DCM

Trade Fin.

Lending

Equities +74 +28%

+7,400 +44%

New full-service customers

Since 2010 +13,200

+16%

Profitability

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Merchant Banking franchise New clients supporting income Contribution in % of MB total customer income 2010-2012 cash management

trade finance

foreign exchange

relationship lending leasing

corporate finance

fixed income commodities

structured finance

corporate cards life

custody

fund services

equities

asset management

debt capital markets

Average product penetration 2010-12

2010 Now 2010 2011 2012

2%

5%

7%

Clients: 84 Clients: 209 Clients: 305 2011 2012

5

4

3

2

1

0

New clients 2010 2011 2012

Note: New clients are shown cumulative

Profitability

12

Germany – Executing on strategic plan

EUR 4,500m Bookrunner/MLA

EUR 1,750m Joint Bookrunner

GBP 650m Bookrunner/MLA

EUR 145m Underwriter/ Bookrunner

EUR 400m Bookrunner/MLA

EUR 475m MLA

+160 New

customers Since 2010

Preferred bank for targeted German Corporates

Continued customer acquisition and uptiering of existing customers

Strengthened capital markets competence and offering

Leverage international capabilities through SEB’s international network

Key activities going forward

FX Custody

M&A

Cash Mgmt.

DCM

Trade Fin.

Lending

Equities

SEB coverage model

Profitability

13

Large Corporate financing

Headline transactions Q3 2013

SEK league table – Corporate bonds 12 month rolling (SEK bn)

SEK 500m Sole bookrunner

EUR 750m Joint bookrunner

EUR 685m Joint Bookrunner

EUR 150m Joint Bookrunner

Credit portfolio FX-adjusted, SEK bn

14

Retail Sweden franchise: Corporates

Number of customers (thousands) Corporate – income (SEK bn)

Note: Only active cash management corporate customers

Tailored solutions Advisory International/FX More complex financing Insurance Occupational insurance (corporate paid)

Standardised solutions Solutions, not products Directly covers 70 per cent of

the customers need

annualized

Profitability

15

Retail Sweden franchise: Private individuals

SEB’s customer base Growth private market Full-service customers (thousands)

Source: SCB/Swedish statistics

>70% conversion to

full-service customers

Households in the major three cities Principal age group of borrowers is 25-44

years High income households Dual income with kids Personal savings above average in Sweden Stronger credit rating vs.market average

13.0% 13.3% 13.5% 15.1% 16.0% 16.2% Market share

Profitability

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Asset gathering franchise: Coordination Full range of savings products through bancassurance model

Unit-linked AuM (SEK bn)

+15% CAGR

Private Banking AuM (SEK bn)

+22% CAGR

Household deposits (SEK bn)

+7% CAGR

Profitability

17

Baltic Banking franchise: Wheels start turning

Source: Macrobond

EUs sentiment indicator

Full-service customers Number of customers 2010=Index 100

SEK m Baltics – total income per quarter Index (100 = historical average) SEK m

Profitability

Source: Macrobond

18

Strategic actions to reduce volatility…

19

Divestment of non-core businesses

Reduced size of investment portfolios

Secured funding and liquidity reserves

Maintained high asset quality

Growth in areas of strength

Source: Nordea Equity Research, August 2013

Volatility, Q2 2009 – Q2 2013 (per cent)

Net financial income

Net profit

Stability

19

A balanced approach to cost management SEK bn

Average quarterly income

Average quarterly expenses

Average quarterly profit before credit losses

Notes: Excluding one-offs (restructuring in 2010, and bond buy-back and IT impairment in 2012) Estimated IAS 19 costs in 2010

Stability

20

Nordics continue to support high asset quality

40%

50%

60%

70%

80%

90%

05

101520253035

Q3-03

Q3-04

Q3-05

Q3-06

Q3-07

Q3-08

Q3-09

Q3-10

Q3-11

Q3-12

Q3-13

Non-performing loans Total bad debt coverage ratio

-0.4%-0.2%0.0%0.2%0.4%0.6%0.8%1.0%1.2%

Q3-03

Q3-04

Q3-05

Q3-06

Q3-07

Q3-08

Q3-09

Q3-10

Q3-11

Q3-12

Q3-13

(negative = reversals)

SEB Group Nordic countries Net credit losses in % Net credit losses in %

Credit quality Loan loss ratio, Group

SEK bn

Stability

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A liquid balance sheet based on a solid funding base

80%

100%

120%

140%

160%

Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Sep-13

Liquid assets to short-term funding

1. Liquid assets = trading assets excluding derivatives + central bank holdings + bond portfolios in Treasury + bank lending. 2. Short-term funding = central bank funding + CP/CD + bank funding 3. Core Gap = Core Gap Ratio is an SEB defined internal measure similar to the regulatory-defined NSFR but based on internal behavioural modelling. It measures the amount of more than 1 year funding in relation to more than 1 year assets.

80%

100%

120%

140%

160%

Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Sep-13

Core Gap Ratio

Structural liquidity – Stable funding to long-term assets3 has been stable

Short-term liquidity – Liquid assets1 to short-term funding2 has structurally improved

Stability

22

Basel 2.5 Core Tier 1 ratio (per cent)

Strong capital situation

17.4 Strong capital formation

Basel III leverage ratio 4.1% (US FDIC 5.3%)

Maintain buffer to minimum regulatory levels

- In Sweden CET 12% (+ countercyclical buffer?)

Significantly more capital attributed to divisions to support capital rationalisation and pricing dynamics

8.6

Basel III fully implemented 13.1 15.0

Stability

23

Jan-Sep 2013 Long-term target

CET1 Basel III 15.0% Vs. 13%

RoE 12.8% Vs. 13-15%

Dividend pay-out ratio

52% (FY 2012)

Vs. >40%

Financial targets

Targets

24

Managing views of other stakeholders

1. SEB 2. Shareholders 3. Debt investors 4. Rating agencies 5. Regulators 6. Media/Public

perception

Targets

25

The road map to further profit growth and RoE Key priorities

The Relationship bank in our part of the world

Enhance customer satisfaction and increase share of wallet

Use strategic window to expand franchise in:

– Nordic large corporates – Selected German

Mittelstand – Retail Sweden

Continued cost efficiency

Maintain high asset quality

Maintain strong balance sheet

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The relationship bank in our part of the world

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