●

SEB’s

anatomy differs from other Nordic banks

●

SEB's

growth plan for corporate banking

●

Other areas of growth

●

Conclusions

1) Excluding Retail Germany

2) Aggregated income distribution of Swedbank, SHB, Nordea, Danske

Bank and DnB

NOR. Business units only (indicative)

0% 20% 40% 60% 80% 100%

Nordic peers

SEB

Large Corporates & Institutions Life Asset management Retail Cards

Share of total income 2009 (%)

1)

2)

To be the leading Nordic corporate bank

Cash management globallyScandinavian currencies

globallyNordic stock brokerNordic and Baltic investment

bankCustody Nordics and BalticsNordic asset managementCorporate banking

Strong customer base Product excellence

700

400,000

4 million1)

1,800

Large companies

Financial institutions

SMEs

Private individuals

Passionate people

1) Excluding Retail Germany

We have the credentials!

Corporateclient

Unique broad-based interaction with customers creates relationship banking

Commitment from Chairman/CEO of both SEB and client

Executed through daily interaction and in-house training

Only truly embedded Swedish corporate bank…

Long lasting relationship business model

Preferred main banking partner

Leading product offering

Strong distribution power

Closely integrated in the corporates

daily operations

Merchant Banking –

unique franchise

… which benefits the corporate DNA of the Group

ForeignExchange

FixedIncome

Mergers & Acquisitions

Cash Management

Lending

Custody

Prime Brokerage Structured

Derivatives

Equities

Customer

Trade & Supply Chain Finance

0

5

10

15

Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10

PrivateCorporate & Institutions

SEB Group, total income by customer group (SEK bn)

Successful relationship banking 2010 corporate bank of the year in Sweden

11

22

33

4

5

(5)

(3)

(2)

(1)

(4)

Advice quality

Elec-

tronic

services

PriceService Product range

2 1 1 4 1

1 2 2 5 2

5 4 2 1 3

4 3 4 2 4

3 5 5 3 5

Market leader in transaction banking The “glue” product

“No. 1 Overall Quality –

Nordic Trade Finance 2010”Prospera

“No. 1 Overall Quality –

Nordic Cash Management 2010”Prospera

“No. 1 Best at cash management in the Nordic/Baltic region”Euromoney award for excellence 2004, 2005, 2006, 2007, 2008, 2009

“A lean & efficient financial supply chain is a competitive advantage”

Corporate Financial Value Chain™

by SEB

Leading European Prime BrokerThe only Nordic bank in top 10*

>30 years in hedge funds

Top ranked in Securities Lending (#1) and Capital Introduction (#2)

SEB one of two with the highest growth rates in 2009

350 hedge fund clients and 130 Prime Brokerage mandates

Specialist Prime Broker focusing on Equities and CTA/Managed Futures

*HFMWeek, August 2010

0 2 4 6

Goldman Sachs

Morgan Stanley

Credit Suisse

Deutsche Bank

SEB

UBS

Newedge

JP Morgan

Merrill Lynch

Citi

Overall score

European Prime Brokerage Survey

#1 in Securities Lending

Prime Broker leadership

●

SEB’s

anatomy differs from other Nordic banks

●

SEB's

growth plan for corporate banking

●

Other areas of growth

●

Conclusions

Perceived quality*

Cor

e re

latio

nshi

ps

* Relative to mean performance in relative market (Source: Greenwich)

Focused growth on corporate segment

2012 Target20092006

Competitive positionLarge

corporates

Sweden

Large corporates

Nordics

CorporatesGermany

Expansion in

Nordic large caps

German Mittelstand

Swedish SMEs

FinlandGo from supplier of

advanced products to long-term core relationship bank

NorwayFurther strengthen

corporate banking position

SwedenDevelop existing

leading franchise

DenmarkFurther strengthen

corporate banking position

GermanyFocus on targeted

Mittelstand

customersLeverage on high client

satisfaction in target segment

Expansion in large corporates Improve corporate banking franchise by leveraging

strong existing platform

Lead arranger

USD 2.1bn acquisition of Intergraph July 2010

Nordic expansion gaining momentum

Lead manager

NOK 4bn rights issue May 2010

Joint bookrunner

DKK 5.5bn rights issue June 2010

Lead manager

SEK 600-700m IPO June 2010

Over 40 new large corporate clients

Hired 40 new professionals

Leading advisor in the Nordic IPO market during 2010

Largest market share (9.1%) on the Nordic Stock Exchange

Development outside Sweden

Swedish SME expansion

Expand footprint in larger SMEs

Improve customer experience

Increase position in micro-SMEs

Campaigns

Partnerships

Regional ”hubs of excellence”

Recruit client executives

Online functionality

Skill building

Supported with a strong pedigree

2010 -

The Corporate Bank of the year

2009 and 2008 the SME bank of the year

A true business partner for SMEs

Strong offering and increased focus

Holistic full-service approach–

The company–

The owner–

The Employees

Competitive package for all segments–

Products–

Services–

Advice

Cutting edge in-house expertise for large corporates

(also for SMEs)

0

20,000

40,000

60,000

80,000

100,000

120,000

2005 2006 2007 2008 2009 Q22010

Number of SME customers*

* Cash management SME customers

●

SEB’s

anatomy differs from other Nordic banks

●

SEB's

growth plan for corporate banking

●

Other areas of growth

●

Conclusions

Index

Leading card operation in the Nordics

Position#1 in corporate cards,

co-branding and cross-

border acquiring in the Nordics #2 Corporate cards within

MasterCard Europe

Platform for growthEfficient, single pan-

Nordic platform Excellent fraud

prevention toolsStrong CRM and loyalty

building skills

0

25

50

75

100

125

150

175

2005 2006 2007 2008 2009

Turnover Number of transactionsNumber of employees Total operating income

Index

Leading card operation in the Nordics

Position#1 in corporate cards,

co-branding and cross-

border acquiring in the Nordics #2 Corporate cards within

MasterCard Europe

Platform for growthEfficient, single pan-

Nordic platform Excellent fraud

prevention toolsStrong CRM and loyalty

building skills

0

25

50

75

100

125

150

175

2005 2006 2007 2008 2009

Turnover Number of transactionsNumber of employees Total operating income

1,100

1,200

1,300

1,400

2005 2006 2007 2008 20090.00

1.00

2.00

3.00

4.00

5.00

6.00

Operating costs, SEK mCosts / Transaction, SEK

Life –

leading bancassurance

model The leading unit-linked insurance company in the region

Strong on occupational insurance

Successful bancassurance

model in Sweden

Capital efficient business model, supported by demographic trends

Agile three-pronged distribution model

0.60.9

1.51.8

1.1

2.1 2.2

2004 2005 2006 2007 2008 2009 H1 2010*

Operating profit, SEK bn

RoE, % 8.0 11.4 19.1 21.1 12.5 32.827.4

* Annualised

…

Export-led economic recovery

Consumer confidence returning

10-point plan

Strong franchise - customers, employees,

solutions & brand

Cross selling on existing clients

Attracting new clients

Regional GDP growth of 4-5%

Baltic recovery gains momentumLong term potentialCurrent state

…

Export-led economic recovery

Consumer confidence returning

10-point plan

Strong franchise - customers, employees,

solutions & brand

Cross selling on existing clients

Attracting new clients

Regional GDP growth of 4-5%

Baltic recovery gains momentumLong term potentialCurrent state Baltics, Accumulated, SEK bn

0

4

8

12

16

20

NPL Reserves Write-offs

June 2009 December 2009 June 2010

68% NPL coverage ratio

●

SEB’s

anatomy differs from other Nordic banks

●

SEB's

growth plan for corporate banking

●

Other areas of growth

●

Conclusions

Investing in corporate banking growth

Leading relationship bank in the region

Positioned for customer-led growth and improved earnings in core markets

Tier 1Tier 1 ratio

Tier 1Matched funding

Tier 1Leverage ratio*

Tier 1Reserve ratio14.3% >18m 77%5.7%

Conclusions

* FDIC