Svenska Handelsbanken Ab Class A · OMXSTO:SHB_A
Svenska Handelsbanken Ab Class A — Handelsbanken — Debt Investor Presentation (2026)
63 slides from Svenska Handelsbanken Ab Class A's debt investor presentation, 2026
Slide 1: Handelsbanken Debt investor presentation Q2 2026
Handelsbanken Debt investor presentation Q2 2026
Slide 2: Contents
Contents • Fundamentals • Balance sheet structure & Liquidity • Latest interim results • Asset quality • Capital • Funding • Stadshypotek & housing markets • Sustainability
Slide 3: Fundamentals
Contents Fundamentals Handelsbanken
Slide 4: Stable value creation in stable markets
Stable value creation in stable markets Norway : 32 branches Sweden : UK: 206 branches 137 branches The Netherlands : 26 branches Growth in shareholders’ equity Geographical footprint Including dividends* SEK/share 250 • Stable democracies with large economies 225 • Stable legal systems 200 • Stable
Slide 5: Safety and stability – over cycles
Safety and stability – over cycles BCA, Stand -Alone Credit Profile & Viability Rating Net credit loss ratio 2006 -202 5 %* Moody's S&P Fitch 0.50 Handelsbanken a1 a+ aa 0.40 0.40 DNB a2 a+ Nordea a2 a+ aa- 0.30 0.20 SEB a2 a+ aa- 0.20 0.14 0.15 0.15 Swedbank a2 a aa- 0.10 0.06 Danske Bank a3 a a+ 0
Slide 6: Customer satisfaction 2025
Customer satisfaction 2025 Private customers Corporate customers Customer satisfaction level Customer satisfaction level 100 100 86.5 79.1 82.1 76.1 77.3 80 80 67.8 67.1 70.1 67.2 67.2 68.9 66.4 65.2 65.7 65.7 64.2 60 60 40 40 20 20 0 0 Sweden UK Norway Netherlands Sweden UK Norway Netherlands Hande
Slide 7: Net credit losses
Net credit losses Credit loss ratio 1997 – 2025 Credit losses Q2 2025 – Q2 2026 SEK m Credit loss ratio 1.2% -1,200 1.2% Handelsbanken Comparable Nordic banks* 1.0% -1,000 1.0% 0.8% -800 0.8% 0.6% -600 0.6% 0.4% -400 0.4% 0.2% -200 0.2% 0.0% 0 0.0% -0.02% 0.00% 0.01% 0.01% 0.00% -0.2% 200 -0.2% -0.4
Slide 8: Lending in home markets
Lending in home markets* Other lending to corporates and 100% households Commercial Average LTV 46% 221 Real Estate LTV>75% 0.2% 90% 14% 333 80% Residential Real Average LTV 48% 70% 371 Estate LTV>75% 0.1% 60% 16% 250 50% Housing co - Average LTV 28% operatives LTV>75% 0.0% 40% 11% 30% 1 127 20% Hou
Slide 9: Credit portfolio – geographical split
Credit portfolio – geographical split Lending to households Lending to corporates 100% 100% 59 90% 132 90% Handelsbanken 80% 67 Netherlands 80% Markets 70% Netherlands 70% Norway 60% 60% Corporates Norway 50% Households SEK 1098 50% UK SEK 1248 bn UK 40% bn 40% 962 30% Sweden, other Sweden other 30%
Slide 10: Credit portfolio - sectors
Credit portfolio - sectors Lending to the public: Property management Sweden: Property management abroad: SEK 2,347 bn SEK 337 bn SEK 400 bn 100% 100% 100% Other corporate lending 90% Holding companies, insurance companies, … 90% 90% Retail and services The Netherlands 80% 80% 80% Manufacturing 70%
Slide 11: Balance Sheet & Liquidity
Contents Balance Sheet & Liquidity
Slide 12: Strength and Stability
Strength and Stability Low risk balance sheet. Focus on Conservative funding structure & Capital position supporting low risk long-term relationships ample liquidity buffer tolerance & growth • Easy to understand balance sheet • Balance between sticky deposits and • Strong capitalization - CET1 -rat
Slide 13: Long term assets funded by long term liabilities
Long term assets funded by long term liabilities Assets* Liabilities* • Balance sheet structured to be resilient in 3,500 741 794 3,500 Short term liabilities long-term stress Cash and balances at backed by central banks 156 3,000 Liabilities and issued 3,000 2.0 times securities maturing • Long -te
Slide 14: Long term structural perspective - NSFR
Long term structural perspective - NSFR 122% NSFR 120% 122% Available Stable Funding 2133 SEK bn 110% 384 SEKbn Own funds (100% weight) 200 SEK bn Stabe retail deposits (95%) 430 SEK bn Less stable retail deposits (90%) 337 SEK bn Operational deposits (50%) 137 SEK bn 100% Other wholesale funding (5
Slide 15: Short term liquidity perspective - LCR
Short term liquidity perspective - LCR 12-months average LCR historical trend (EOP) 1,000 250% • Liquidity reserve: 100% at fair value & IRR 800 200% hedged 600 LCR 150% • Regulated on Total and specific currency 400 186 % LCR:s 200 325 SEK bn cushion 100% • Balanced composition between significant
Slide 16: Diversified deposit base
Diversified deposit base* 1,000 600 1,800 800 1,600 1,400 515 600 400 SEK bn 1,200 221 182 1,000 721 SEK bn 456 400 SEK bn 800 600 200 200 424 275 400 682 200 108 0 0 0 Total deposits Private Corporate On demand deposits Guaranteed Not guaranteed (excl retail/SME) On demand deposits On demand deposi
Slide 17: Latest interim results
Contents Latest interim results
Slide 18: Q2 2026
Q2 2026 • SEK 6.7bn in operating profit • 12.8% ROE • Business growth, in particular in the UK and the Netherlands • Stable NII and expenses • Continued strong development of the savings business • Solid asset quality • Robust financial position • SEK 4.77 per share in anticipated dividends for Jan
Slide 19: Financial summary
Financial summary Q2 2026 compared to previous quarter Key ratios : Adjusted for items affecting 44.3% SEK m Q2 2026 Q1 2026 Change comparability* C/I -ratio Net interest income 10 008 10 016 0% -1% Net fee and commission income 3 135 3 073 2% 2% 0.00% NFT 116 547 -79% -79% Net credit loss ratio Oth
Slide 20: Business growth in home markets
Business growth* in home markets Q2 2025 – Q2 2026 Sweden UK Norway The Netherlands 75% of operating profit in home markets 13% of operating profitin home markets 9% of operating profitin home markets 3% of operating profitin home markets SEK bn GBP bn NOK bn EUR bn 1,800 25 350 12 +0% -5% 1,600 +1%
Slide 21: Net interest income
Net interest income Q2 2026 compared to previous quarter NII change : 0% SEK m 10,200 10,100 90 Contribution from: 10,000 -5 -249 114 Volumes : +0.9% -points 9,900 42 9,800 Margins and 10,016 10,008 9,700 funding : -2.5% -points 9,600 Currency effects 9,500 Q1 2026 Volume in home Margins and Day cou
Slide 22: Net fee and commission income
Net fee and commission income SEK m 3,200 +9% 3,100 3,000 2,900 2,800 3,135 2,700 2,873 2,600 2,500 2,400 Q225 Q325 Q425 Q126 Q226 Savings related * (68% of net fee and commissions ) Other (32%) SEK m SEK m 2,500 2,500 +14% 2,000 2,000 1,500 1,500 2,166 +0% 1,000 1,904 1,000 500 500 969 969 0 0 Q225
Slide 23: Growth in Swedish savings business
Growth in Swedish savings business Net inflows in the Swedish mutual fund market, accumulated 350 Handelsbanken SEK +318bn Net inflows : 300 2016 -2026: 27% market share 250 Jan -June 2026: 46% market share 200 150 100 Main peers * Outstanding mutual fund volumes : 50 12% market share 0 -50 2016 201
Slide 24: Stable cost base despite underlying inflation
Stable cost base despite underlying inflation Expenses SEK m -4,000 -0% -3,695 -3,500 -3,000 -2,500 -2,000 -2% -1,756 -1,500 -1,000 -9% -464 -500 -68% -48 0 500 Q225 Q325 Q425 Q126 Q226 Q225 Q325 Q425 Q126 Q226 Q225 Q325 Q425 Q126 Q226 Q225 Q325 Q425 Q126 Q226 Staff costs, Other expenses Depreciatio
Slide 25: Asset Quality
Contents Asset Quality Handelsbanken
Slide 26: Resilience and stability
Resilience and stability Accumulated credit losses SEK m 1,500 Accumulated credit losses Q1 2020 – Q1 2026 = SEK 50m Average per quarter Q1 2020 – Q1 2026 = SEK 2m 1,000 Q1 2020: Q2 2025: SEK 440m SEK 0m New management add’on in remaining management add’on 500 198 19 Accumulated 0 249 61 -70 -35 -50
Slide 27: Asset quality
Asset quality • Rating migrations SEK -22m • Better quality on new loans compared to exits SEK 2m • Other (incl. effects from loan durations and migrations to stage 3) SEK 12m Expected credit losses Credit losses Credit losses , net Stage 3, net SEK m SEK m SEK m -100 -100 Updated 0 macro assumption
Slide 28: Macro assumptions in ECL calculation
Macro assumptions in ECL calculation Upgraded value with positive effect Upgraded value with negative effect Central bank interest Commercial property House price Annual GDP growth, Unemployment, rates price development, development, forecasts % % % % % Scenario 2025-2029 Swe UK Nor Fin Swe UK Nor F
Slide 29: Low LTVs in CRE & RRE portfolios
Low LTVs in CRE & RRE portfolios* Commercial real estate Residential real estate 400,000 140,000 42% 350,000 48% 120,000 300,000 100,000 27% 250,000 25% 80,000 200,000 23% 150,000 18% 60,000 100,000 11% 40,000 7% 50,000 20,000 Home Home 0 markets Sweden Norway UK the Netherlands markets 0 Sweden UK
Slide 30: Property management – Total Exposure & Stage 2
Property management – Total Exposure & Stage 2 Total exposure Stage 2 – Sweden and abroad SEK mn SEK mn 800,000 110,000 60,000 90,000 100,000 80,000 750,000 50,000 90,000 70,000 700,000 80,000 40,000 60,000 70,000 50,000 30,000 650,000 40,000 60,000 20,000 30,000 600,000 50,000 20,000 40,000 10,000
Slide 31: Property management – type of collateral
Property management – type of collateral * SEK bn Sweden UK Norway Netherlands Group % Government guarantees 18 0 4 22 3% Residential 177 72 17 20 285 40% Office, retail, hotel 96 57 73 20 246 35% Other real estate 12 1 9 38 60 8% Industry, logistics 18 22 10 1 50 7% Agriculture, forestry 1 1 0 - 2
Slide 32: Capital
Contents Capital Handelsbanken
Slide 33: Strong financial position
Strong financial position CET1 ratio, Q2 2026 SEK bn 180 22% 20% ▪ Solid asset quality 160 17.2% 18% 140 Long term target ▪ Low funding and liquidity risk range : 14.7% 16% 15.7 – 17.7% 120 14% ▪ Strong liquidity buffer 100 12% ▪ Anticipated dividend of SEK 4,77 per 80 10% share for the first half o
Slide 34: Change in CET1-ratio from previous quarter
Change in CET1 -ratio from previous quarter CET1 -ratio REA % SEK bn 19.5 830 820 19.0 2 3 4 2 810 2 18.5 1 3 5 800 18.0 0.1 790 17.5 0.6 0.5 780 812 802 17.0 770 17.2 17.2 16.5 760 16.0 750 Q1 2026 Earnings for the period Volume development Anticipated dividends Q2 2026 Q1 2026 Volume Portfolio Cre
Slide 35: Total capital requirement and capital position
Total capital requirement* and capital position 200 180 Requirement, SEKm Q226 T2 , 25.7 Total 19 171 160 T1 13 566 CET1 119 727 AT1 , 15.7 T2 , 19.2 FI requirement, % of REA Q226 Target 140 Total 18,8% > +1 %-point AT1 , 13.6 T1 16,4% > +1 %-point 120 CET1 14,7% 1-3 %-points above req Actual, % of
Slide 36: REA and buffer split
REA and buffer split REA CET1 capital requirement, % of REA* SEK mn 16,0 Pillar 2G Capital requirement based on: 900,000 CVA and market risks 0,5 14,0 MDA 800,000 CRE -floors 1,0 SREP 2025 14.7% CET1 Operational risk Norway Pillar 2R (Conc. 700,000 Risk 0.3, IRB CRE -floors 12,0 2,0 non-C 0.5, IRBB
Slide 37: Buffer to Distribution Restrictions and Principal Loss Absorption
Buffer to Distribution Restrictions and Principal Loss Absorption MDA -lines – Q2 2026, excl. 0.5% P2G 25 25 25 CET1 capital Tier1 capital Total capital 20 20 20 3.2 1.9 1.9 2.4 15 15 1.7 15 1.0 2.0 10 2.5 10 10 17.2 17.2 15.9 17.2 4.2 14.2 5 5 5 4.5 0 0 0 Minimum capital req. Systemic risk buffer**
Slide 38: Outstanding subordinated debt
Outstanding subordinated debt AT1 format Issue month Currency Amount (m) First potential call date SHBASS 4.375%, PNC6.5 Sep 2020 USD 500 Mar 1 2027 SHBASS 4.750%, PNC10.5 Sep 2020 USD 500 Mar 1 2031 SHBASS 5.300%, PNC5 March 2026 SEK 1,400 Apr 1 2031 SHBASS Float, PNC5 March 2026 SEK 4,600 Apr 1 20
Slide 39: Funding
Contents Funding Handelsbanken
Slide 40: Highest combined credit rating globally
Highest combined credit rating globally Highest rating globally among comparable Banks when combining Fitch, Moody’s and S&P* Moody's (BCA) S&P (SACP) Fitch (VR) Handelsbanken a1 a+ aa Bank 2 a1 a+ aa- Bank 3 a2 a+ aa- April 2026 rating actions from Moody’s Bank 4 a2 a+ aa- • BCA -rating uplifted to
Slide 41: Market funding
Market funding Currency mix senior bonds* 100% 90% Other 100% 100% AUD , 16% 6% 80% 70% 90% Norwegian 60% EUR cover pool EUR Certificates 50% 89% in EUR 50% 80% 547 95% 43 40% Subordinated debt 30% 70% 35 20% USD 10% 28% USD 11% 90% 0% 60% Senior Senior preferred Senior non-preferred non- 50% Senior
Slide 42: Long-term funding
Long -term funding Jan-Jun Jan-Jun Jan-Jun Long-term bond issuance, SEK bn 2026 2025 Change Long-term bond issuance, SEK bn 2023 2024 2025 2026 Senior preferred 39 26 13 Senior preferred 56 17 34 39 Senior Non-Preferred 11 0 11 Senior Non-Preferred 11 17 16 11 Covered bonds 68 67 1 Covered bonds 163
Slide 43: Maturity profile senior long-term funding
Maturity profile senior long -term funding SEK bn SEK bn 80 20 60 15 40 10 20 5 0 0 2026 2027 2028 2029 2030- 2026 2027 2028 2029 2030- SP SNP SP Other SEK bn SEK bn 30 80 70 25 60 20 50 15 40 30 10 20 5 10 0 0 2026 2027 2028 2029 2030- 2026 2027 2028 2029 2030- SP USD SNP USD SP SNP 43
Slide 44: MREL-requirements and available funds
MREL -requirements and available funds Total MREL Subordinated MREL SEK bn 450 SEK bn 397 450 400 400 350 SP>1yr 350 128 300 285 300 269 CBR* 250 SNP>1yr 71 250 226 81 SNP>1yr 200 MCB** 81 200 CBR* 58 71 150 150 Leverage ratio x2 Own funds 100 2x Leverage ratio x2 220 (T1+T2) 100 2x Own funds (P1 mi
Slide 45: Non-encumbered assets
Non-encumbered assets 30 juni 2026 Ack . andel av icke säkerställd mdkr IPT (NEA) upplåning * Behållning i centralbanker samt värdepapper i likviditetsportföljen 897 88% Hypotekslån 890 176% Övrig hushållsutlåning 135 190% Fastighetsföretagsutlåning lägsta riskklass (1-3 ) 269 216% Övrig företagsutl
Slide 46: Stadshypotek & Housing markets
Contents Stadshypotek & Housing markets
Slide 47: Mortgage growth picking up
Mortgage growth picking up 47
Slide 48: Swedish mortgage business
Swedish mortgage business Mortgage lending in Sweden 2011 -2026YTD Accumulated net new lending 2010 -2026YTD Handelsbanken 1,000 400 900 350 800 300 # 2 -6 700 250 600 200 500 150 400 100 300 50 200 0 2010 2012 2014 2016 2018 2020 2022 2024 2026 Stable contribution to growth Market share – back book
Slide 49: Swedish retail mortgage portfolio
Swedish retail mortgage portfolio LTV & Debt -to-income Misc. facts 70.0 3.40 Debt - Interest - Stressed interest service -ratio* service -ratio rate 3.35 65.0 2026Q2 2023Q4 2026Q2 2023Q4 2026Q2 2023Q4 3.30 13.4% 16.3% 8.8% 11.4% 6.0% 7.0% 60.0 3.25 Interest payments 3.20 55.0 Float/fixed Avg. inter
Slide 50: Stadshypotek – Swedish cover pool
Stadshypotek – Swedish cover pool Current available pool size SEK 1328bn (EUR 120bn) Assets utilized SEK 603bn (EUR 54bn) Interest index distribution Loans secured by mortgages. Loans to or Floating rate (<1 year fixing) 70% Asset types guaranteed by public sector in Sweden (state & Fixed rate (>1 y
Slide 51: Housing market: Signs of recovery
Housing market: Signs of recovery 51
Slide 52: Transaction activity at decent levels
Transaction activity at decent levels 52
Slide 53: Supply of unsold flats trending downwards
Supply of unsold flats trending downwards 53
Slide 54: Stadshypotek – Norwegian cover pool
Stadshypotek – Norwegian cover pool Current available pool size NOK 133bn (EUR 12bn) Interest index distribution Assets utilized NOK 72bn (EUR 6bn) Floating rate (<1 year fixing) 92% Fixed rate (>1 year fixing) 8% Asset types Loans secured by mortgages Outstanding issues of covered bonds Domestic be
Slide 55: Norwegian house prices - muted trends
Norwegian house prices - muted trends 55
Slide 56: Transaction activity trending upwards – as well as supply
Transaction activity trending upwards – as well as supply 56
Slide 57: Strong assets pools even after severe stress
Strong assets pools even after severe stress Swedish pool Liabilities Used assets Available assets WA max -LTV OC (SEKbn ) (SEKbn ) (SEKbn ) Actual 548 603 1,328 54.6 110 Property values -40% 548 603 1,107 66.6 110 Norwegian pool Liabilities Used assets Available assets WA max -LTV OC (NOKbn ) (NOKb
Slide 58: Sustainability
Contents Sustainability Handelsbanken
Slide 59: Sustainability at Handelsbanken
Sustainability at Handelsbanken Handelsbanken has a holistic perspective on sustainability, where focus is the customer's needs. Through long -term and personal relationships, value is created in five focus areas; responsible entrepreneurship, advisory meetings, financing, investments and creating a
Slide 60: Green and sustainability linked loans
Green and sustainability linked loans Green lending: 35 % growth rate 2026Q2 vs 2025Q2 SEK mn 200,000 Green, social and sustainability -linked loans as 180,000 per Q2 2026 (Q2 2025): 160,000 140,000 • 13.0% of the sum of total loans and undrawn revolving credit facility commitments (10.8%) 120,000 1
Slide 61: Pool of eligible assets according to 2025 Green Bond Framework
Pool of eligible assets according to 2025 Green Bond Framework Outstanding Green Bonds Mapped against pool excl. mortgages • EUR 500m Senior Non -preferred issued in 2020, maturing in 2027 SEK mn Green • EUR 750m Senior Preferred issued in 2022, maturing in 2029 140,000 Mortgages • EUR 750m Senior N
Slide 62: Contacts
Contacts Andreas Skogelid Peter Grabe Head Debt IR & Ratings Head of IR Andreas.Skogelid@handelsbanken.se Peter.Grabe@handelsbanken.se (+46) 70 326 7228 Lars Kenneth Dahlqvist IR Officer Lars.Kenneth.Dahqvist@handelsbanken.se https://www.handelsbanken.com/en/investor -relations 62
Slide 63: Disclaimer
Disclaimer • Certain statements made in this presentation are forward looking statements . Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or