Barclays Global Financial Services Conference New York City, September 8, 2014

Jan Erik Back CFO

A Nordic bank with a global reach

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

2,900 Corporates & Institutions 400,000 SME:s 4 million private individuals

2

SEB’s Core Markets Economic fundamentals remain relatively robust

Lithuania

Denmark

Norway Finland

Sweden Latvia Estonia

Germany

-10-8-6-4-202468

2009 2010 2011 2012 2013 2014E 2015E 2016E

Sweden Norway Finland Denmark

Nordic GDP development *

-4.5-3.5-2.5-1.5-0.50.51.52.53.5

2009 2010 2011 2012 2013 2014E 2015E 2016E

Eurozone GDP development *

-20

-15

-10

-5

0

5

10

2009 2010 2011 2012 2013 2014E 2015E 2016E

Germany Estonia Latvia Lithuania

German and Baltic GDP development *

* Source: SEB Nordic Outlook, August 2014

%

%

Lithuania

%

3

SEB’s Core Markets Strong sovereign finances % of GDP

Sovereign Debt

0% 50% 100%150%200%

GreeceItaly

PortugalIrelandCyprus

SpainFrance

UKHungaryBelgium

GermanyNetherlands

AustriaSlovenia

MaltaPolandFinland

DenmarkSweden

LithuaniaLatvia

NorwayLuxemburg

Estonia

Source: IMF WEO Actual figures for 2013

Budget Deficit Current Account Balance

-20% -10% 0% 10% 20%

SloveniaIrelandSpain

UKPortugalCyprusPolandFrance

NetherlandsItaly

MaltaBelgiumFinlandGreece

HungaryLithuania

AustriaLatvia

SwedenDenmarkEstonia

GermanyLuxemburg

Norway

-5% 0% 5% 10% 15%

UKPoland

BelgiumFranceCyprus

EstoniaFinland

LatviaPortugalGreece

SpainItaly

LithuaniaMalta

AustriaHungarySwedenSlovenia

IrelandDenmark

LuxemburgGermany

NetherlandsNorway

4

Strategy has remained the same

Build business platform for growth 1 Enhance customer satisfaction 2

Create strong asset quality and balance sheet 4 Achieve operating leverage 3

5

Share-of-wallet in customer segments Number of clients

Large corporates

2010 H1 2014

2,200

+400

Sweden

SME/MidCorp

2010 H1 2014

146,000

+47,000

Sweden

Private

2010 H1 2014

472,000 +66,000

Built business platform for growth

6

SME NPS*

Sweden

+19

+24

2012 2013

Sweden

+19

+28

2012 2013

Improved customer satisfaction Customer loyalty/satisfaction Targeted measures

Financial Institutions

Willingness to recommend

#1 Nordic

Willingness to recommend

#1 Nordic

Large corporates

* Net Promoter Score

Private NPS*

Willingness to recommend

#1 Germany

Targeted corporates

Baltic countries Private & SMEs NPS *

+47 /+48

Germany

Baltics

7

Average quarterly income (SEK bn)

9.2 9.4 9.8 10.4 10.8

Avg 2010 Avg 2011 Avg 2012 Avg 2013 Jan-Jun2014

Average quarterly expenses (SEK bn)

5.8 5.9 5.7 5.6 5.4

Avg 2010 Avg 2011 Avg 2012 Avg 2013 Jan-Jun2014

Average quarterly profit before credit losses (SEK bn)

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

3.4 3.5 4.1 4.8 5.3

Avg 2010 Avg 2011 Avg 2012 Avg 2013 Jan-Jun2014

Operating leverage

15% income growth target

2012-2015

Flat cost target 2012-2015

8

We are mid-term in our 3-year plan

2012 2015 Op. profit (SEK bn)

RoE CET1

15

11% 13%

>20

13% (15%)

15% (13%)*

10

13% (15%)

16% (13%)*

* Communicated capital target in Feb 2013

9

Organic growth strategy has created earnings stability

23%

23%

30%

Percent depicts Business Area in percent of total income

Average quarterly income 2008-2013 and Q1 2014

0

2,000

4,000

6,000

8,000

10,000

12,000

2008 2009 2010 2011 2012 2013 H1 2014

Swedish Retail Banking Large Corporate and Transaction Banking Life and Wealth Markets Business Baltics

21%

21%

23%

23%

12%

8%

13%

21%

30%

28%

SEK m

10

Focus on full service customers – Residential mortgage lending growth is a consequence of the strategy

350

370

390

410

430

450

470

2008 2009 2010 2011 2012 2013 H12014

472

386

50

150

250

350

450

2008 2009 2010 2011 2012 2013 H12014

+68 >80% conversion to full-service customers

Number of full service customers (thousands)

Household mortgage lending growth (SEK bn)

11

SEB’s portfolio – Low LTVs

0-50%

51-70% 16%

>85% 0%

Loan-to-value

Share of portfolio

80%

4% 71-85%

Strong credit characteristics and strict underwriting standards underpin SEB’s mortgage lending

Focus on affordability

Cash flow analysis Amortisation 7% interest rates

Indebtedness Max loan amount 5x total

gross household income Collateral valuation 85% LTV cap If LTV >70% mandatory

amortisation Sell first and buy later

12

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

2002 2004 2006 2008 2010 2012 2014

SEB’s customer becomes quickly more digital Number of active private customers by channel each month

Number of customer meetings

Digital

Branch Telephone

Internet ≈ 95%

Branch ≈ 15%

Telephone ≈ 10%

≈ 50% Internet & Branch

≈ 97%

13

SEB – A perfect Entrepreneur

Top ranking in SME surveys

The corporate bank in Sweden

Client Coverage

Branches

Digital channels

Product Areas

Partnership and “24/7” accessibility

Focus on Entrepreneurship and start-ups

14

Broadened Nordic and German franchise through customer acquisition and cross-selling

0.4

0.4

1.0

0.5

1

1

1.7

1.3

Operating profit, rolling 12 months (SEK bn, FX-adj)

CAGR 2010 - June 2014

+31%

+25%

+16%

+32% 2010

June 2014

Denmark

Finland

Norway

Germany

2010

June 2014

2010

June 2014

2010

June 2014

Large Corporates and Financial Institutions New client income contribution (%)

Average product penetration 2010 – 2013

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

2010 Now 2011 2012

5

4

3

2

1

0

New clients 2010

2011 2012

2010 2011 2012 2013 2014

10%*

440

*June YTD figure i.e the income on new clients in H1 makes up 10% of MB income in H1.

2%

5%

7%

10%

209

305

413

# of new clients, cumulative

84 2013

2013

15

Growth of German corporate bank

H1-13 H1-14

725

1,058

SEB Germany operating profit (SEK m)

Sixt EUR 250m Joint Bookrunner

Ströer EUR 500m Coordinator/Book-runner

ThyssenKrupp EUR 1,200m Joint Bookrunner

ProSiebenSat.1 EUR 2,000m Coordinator/Book-runner/MLA

Deutsche Bahn SEK 1,600m Sole Bookrunner

Nordzucker EUR 400m Bookrunner/MLA

Select SEB transactions H1 2014

~15% Real Estate CAGR 2002-2014 -12% Continuous capital re-

allocation to corporates

~85% Corp & Inst CAGR 2002-2014 +8% Focus on corporates

acquisition and cross-selling

Key activities going forward

Increase client penetration while maintaining new prospecting Strengthen capital markets competence and offering Leverage international capabilities through SEB's network

AM AM

MB

MB

16

Strong corporate bond franchise Significant deals in Q2 2014

23,304

26,299

33,390

35,352

40,274 SEB

H1 2014 (SEK m)

79 Issues

89 Issues

95 Issues

83 Issues

63 Issues

SEK League Tables – Corporate Bonds

Nordic market lending and bond financing

73% 82%

46%60%

76%

27% 18%

54%40% 24%

2010 2011 2012 2013 H1 2014

Bonds

Loans

Source: Dealogic on Nordic markets

EUR 500m Fixed Green Bond Lead Manager

SEK 1,5bn / 310m FRN/Fixed Green Bond Lead Manager

SEK 1.3bn / 200m FRN/Fixed Lead Manager

EUR 250m Fixed Joint Lead Manager

EUR 500m Fixed Joint Lead Manager

EUR 65m FRN Joint Lead Manager

Green Bonds

SEK 870m / 230m FRN/Fixed Green Bond Lead Manager

SEK 1.5bn Fixed Green Bond Lead Manager

17

Household non-

mortgage5%

Residential Mortgages

33%

Public Sector5%

Corporates48%

Commercial Real Estate9%

Total Nordics ~60% ~80%

Organic growth strategy protects high asset quality

Credit portfolio growth from 2007 – Jun 2014 SEK bn

Credit portfolio, non-bank, Jun 2014 SEK 1,819bn

21

-91

-37

-24

-14

-5

48

61

90

207

258

Other

German retail

Baltics

German commercial real estate

German residential real estate

Public administration

Shipping & Private Equity Finance

Nordic commercial real estate

Swedish retail corporate

Swedish household mortgage

Large corporates

18

Nordics continue to support high asset quality

0.11 0.30

0.92

0.15

-0.08

0.08 0.09 0.08

2007 2008 2009 2010 2011 2012 2013 H12014

(negative = reversals)

SEB Group

0.05 0.18 0.17 0.06 0.07 0.05 0.06 0.09

2007 2008 2009 2010 2011 2012 2013 H12014

Nordic countries Net credit losses in per cent Net credit losses in per cent

Credit quality Loan loss ratio, Group

SEK bn

40%

50%

60%

70%

80%

90%

0

10

20

30

40

Q2-03

Q2-04

Q2-05

Q2-06

Q2-07

Q2-08

Q2-09

Q2-10

Q2-11

Q2-12

Q2-13

Q2-14

Non-performing loansImpaired loans netTotal bad debt coverage ratio

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

Q2-03

Q2-04

Q2-05

Q2-06

Q2-07

Q2-08

Q2-09

Q2-10

Q2-11

Q2-12

Q2-13

Q2-14

19

SEB’s capital requirement According to SFSA 8 May 2014

4.5%

1.5% 0.7% 0.9%

2.0%

3.0%

0.6%

2.5%

15.7%

0.8%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

CET1 required CET1 available

Expected profit after dividend paid 15.6

16.5

CET1 ratio Q1 2014

• Strong capital formation

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

• Revised capital target to be communicated when details clarified

Capital conservation buffer Countercyclical capital buffer Systemic risk buffer Systemic risks in Pillar 2 15 - > 25% risk weight floor on Swedish mortgages Current risk weight floor on Swedish mortgages Pillar 2 excl. risk - weight floor on Swedish mortgages and systemic risks Minimum common equity Tier 1

20

(SEK bn) 2009 2013 Q2 2014

Non-performing loans 28.6bn 9.5bn 8.6bn*

NPL coverage ratio 65% 72% 74%*

Net credit loss level 0.92% 0.09% 0.08%

Customer deposits 750bn 849bn 890bn*

Liquidity resources >10% ~25% ~25%*

Liquidity coverage ratio N.A. 129% 127%*

CET 1 ratio (Basel 3) 11.7% 15.0% 16.0%*

Total capital ratio (Basel 3) 14.7% 18.1% 20.5%*

Leverage ratio (Basel 3) N.A. 4.2% 4.3%*

Strong asset quality and balance sheet As

set q

ualit

y Fu

ndin

g an

d liq

uidi

ty

Cap

ital

*end of June

Basel 2.5

Basel 2.5

21

Financial targets

Profitability Return on Equity Competitive with peers

- long-term aspiration of 15% Capital

Common Equity Tier 1 ratio Total capital ratio

13% 16%

TBD, always compliant with

regulation

Dividend Pay-out ratio 40% or above of EPS

Ratings Funding access and credibility

as counterpart

Maintain credit ratings in support of competitive funding access and costs and as a viable counterpart in financial markets

Liquidity

Liquidity Coverage Ratio > 100% according to Swedish requirements

Efficiency Nominal cost cap < SEK 22.5bn 2013 and 2014 …and 2015

2013 2014

22

Going forward

Long-term customer relationships

Disciplined execution of business plan

Finalisation of regulatory Swedish finish

23

The relationship bank in our part of the world