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, Oct 21, 2026
Slide 1: Handelsbanken Debt investor presentation Q3 2026
Handelsbanken Debt investor presentation Q3 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 Exposure to stable markets Creation of shareholder value Customer satisfaction Equity plus dividends* Norway : SEK/share 32 branches 250 Sweden : 225 UK: 206 branches 137 branches 200 SKI / EPSI 175 150 125 The Netherlands : 100 26 branches Finansbarometern 75
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: High customer satisfaction
High customer satisfaction Retail customers Corporate customers SKI / EPSI Index Handelsbanken Industry Index Handelsbanken Industry 2026 90 90 87 85 85 79 80 Finansbarometern 80 78 80 77 2026 75 75 71 71 70 70 68 70 68 67 67 66 66 65 64 Finansbarometern 65 65 2026 60 60 55 55 Global Finance 2026 Ha
Slide 7: Net credit losses
Net credit losses Credit loss ratio 1997 – H1 2026 Credit losses Q3 2025 – Q3 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% 0.00% 0.01% 0.01% 0.00% 0.00% -0.2% 200 -0.2% -0
Slide 8: Lending in home markets
Lending in home markets* Other lending to corporates and 100% households Commercial Average LTV 47% 233 Real Estate LTV>75% 0.2% 90% 15% 343 80% Residential Real Average LTV 47% 70% 379 Estate LTV>75% 0.2% 60% 16% 252 50% Housing co - Average LTV 28% operatives LTV>75% 0.0% 40% 11% 30% 1,141 20% Hou
Slide 9: Credit portfolio – geographical split
Credit portfolio – geographical split Lending to households Lending to corporates 100% 100% 61 90% 90% 140 Nethe Handelsbanken 80% 71 Markets 80% rlands 70% Netherlands 70% 60% 60% Corporates Norway Norw 50% ay Households SEK 1130 50% SEK 1263 bn UK 40% bn 40% 965 30% Sweden other 30% 22 UK 20% 20%
Slide 10: Credit portfolio - sectors
Credit portfolio - sectors Lending to the public: Property management Sweden: Property management abroad: SEK 2,393 bn SEK 336 bn SEK 420 bn 100% 100% 100% Other corporate lending 90% Holding companies, insurance companies, … 90% 90% Other countries Retail and services 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 3,500 Short term 695 767 liabilities long-term stress Cash and balances at backed by central banks 3,000 Liabilities and issued 3,000 154 2.0 times securities maturing • Long -te
Slide 14: Long term structural perspective - NSFR
Long term structural perspective - NSFR NSFR 119% 120% 119% Available Stable Funding 2131 SEK bn 110% 344 SEKbn Own funds (100% weight) 197 SEK bn Stabe retail deposits (95%) 427 SEK bn Less stable retail deposits (90%) 344 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 400 183 % LCR:s 302 SEK bn cushion 100% 200 • Balanced composition between significant
Slide 16: Diversified deposit base
Diversified deposit base* 1,000 600 1,800 800 1,600 1,400 492 600 400 SEK bn 1,200 225 177 1,000 721 SEK bn 450 400 SEK bn 800 600 200 200 422 273 400 685 200 109 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: Q3 2026 highlights
Q3 2026 • Income higher, costs lower, 0.00% credit losses • Operating profit increased to SEK 7.4 bn • Increased operating profit in all home markets • Growth in lending, deposits and assets under management • ROE increased to 13.5% • Robust financial position • SEK 8.0 per share in YTD dividend ant
Slide 19: Financial summary
Financial summary Q3 2026 compared to previous quarter Key ratios: Adjusted for items affecting 42.3% SEK m Q3 2026 Q2 2026 Change comparability* C/I -ratio Net interest income 10,051 10,008 0% -1% Net fee and commission income 3,330 3,135 6% 6% NFT 515 116 344% 341% 0.00% Net credit loss ratio Othe
Slide 20: Business growth in home markets
Business growth* in home markets Q3 2025 – Q3 2026 Sweden UK Norway The Netherlands 75% of operating profit in home markets 13% of operating profit in home markets 9% of operating profit in home markets 3% of operating profit in home markets SEK bn GBP bn NOK bn EUR bn 1,800 25 350 12 +0% -5% +10% +
Slide 21: Net interest income
Net interest income Q3 2026 compared to previous quarter NII change: 0.4% SEK m 10,200 10,100 87 7 Contribution from: 10,000 -194 112 Volumes: +0.9% -points 9,900 31 9,800 Margins and 10,051 10,008 9,700 funding: -1.9%-points 9,600 Currency effects 9,500 Q2 2026 Volume in home Margins and Day count
Slide 22: Net fee and commission income
Net fee and commission income SEK m 3,400 +12% 3,300 3,200 3,100 3,000 2,900 3,330 2,800 2,700 2,978 2,600 2,500 2,400 Q325 Q425 Q126 Q226 Q326 Savings related* (71% of net fee and commissions) Other (29%) SEK m SEK m 2,500 +16% 2,500 2,000 2,000 1,500 1,500 +2% 2,362 1,000 2,030 1,000 500 500 948 9
Slide 23: Growth in Swedish savings business
Growth in Swedish savings business Net inflows in the Swedish mutual fund market, accumulated 350 Handelsbanken SEK +327bn Net inflows: 300 2016 -2026: 2 8 % market share 250 Jan -Sep 2026: 35% market share 200 150 100 Main peers* Outstanding mutual fund volumes: 50 12% market share 0 -50 2016 2017
Slide 24: Stable cost base despite underlying inflation
Stable cost base despite underlying inflation Expenses SEK m +1% -4,000 -3,724 -3,500 -3,000 -2,500 -1% -2,000 -1,584 -1,500 -1,000 -508 -500 -94 0 500 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Staff costs, Other expenses Depreciation, amorti
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 – Q3 2026 = SEK 85 m Average per quarter Q1 2020 – Q3 2026 = SEK 3 m 1,000 Q1 2020: Q2 2025: SEK 440m SEK 0m New management add’on in remaining management add’on 500 198 19 0 Accumulated 249 61 -70 -35 -
Slide 27: Asset quality
Asset quality • Rating migrations SEK -13m • Better quality on new loans compared to exits SEK -2m • Other (incl. effects from loan durations and migrations to stage 3) SEK 13m Expected credit losses Credit losses Credit losses, net Stage 3, net SEK m SEK m SEK m -100 -80 Updated 3 -70 macro assumpt
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 39% 350,000 46% 120,000 300,000 100,000 28% 26% 250,000 80,000 200,000 23% 150,000 19% 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 – Exposure & Stage 2
Property management – Exposure & Stage 2 Total exposure Stage 2 Provisions – Total and Property management SEK mn SEK mn 800,000 110,000 90,000 160,000 100,000 80,000 140,000 750,000 90,000 70,000 120,000 700,000 80,000 60,000 100,000 70,000 50,000 80,000 650,000 40,000 60,000 60,000 30,000 600,000
Slide 31: Property management – type of collateral
Property management – type of collateral * SEK bn Sweden UK Norway Netherlands Group % Government guarantees 14 0 3 17 2% Residential 181 75 17 21 293 41% Office, retail, hotel 94 61 79 21 255 35% Other real estate 13 1 10 38 61 8% Industry, logistics 18 24 11 1 54 8% Agriculture, forestry 1 1 0 - 2
Slide 32: Capital
Contents Capital Handelsbanken
Slide 33: Financial stability
Financial stability CET1 ratio, Q3 2026 SEK bn 180 20% ▪ SREP lowered by 20bp to 14.5% 160 17.0% 18% Long term target ▪ CET1 of 17.0% ➔ 250bp above SREP 140 range: 16% 14.5% 15.5 – 17.5% 120 ▪ Anticipated dividends of YTD earnings: 14% ▪ SEK 8.0 per share 100 12% ▪ 92% of net profit 80 10% ▪ Approva
Slide 34: Change in CET1-ratio from previous quarter
Change in CET1 -ratio from previous quarter CET1 -ratio REA % SEK bn 19.5 835 830 19.0 2 1 825 1 18.5 820 11 18.0 815 2 0.1 4 0.0 17.5 0.7 810 830 0.8 805 17.0 812 800 17.2 16.5 17.0 795 16.0 790 Q2 2026 Earnings for the period Volume development Currency effects, net Anticipated dividends Q3 2026 Q
Slide 35: Total capital requirement and capital position
Total capital requirement* and capital position 200 180 Requirement, SEKm Q326 T2 , 26.4 Total 18,665 160 T1 13,522 CET1 119,953 AT1 , 16.0 T2 , 18.7 FI requirement, % of REA Q326 Target 140 Total 18.3% > +1 %-point AT1 , 13.5 T1 16.1% > +1 %-point 120 CET1 14.5% 1-3 %-points above req Actual, % of
Slide 36: Capital requirement break down
Capital requirement break down ▪ 2026 SREP lowered by 20bp to 14.5% (CET1) ▪ 20 bp lower P2 -R to 0.8% (1.0) ▪ Concentration risk 0.2 (0.3) CET1 capital requirement, % of REA* ▪ IRBB 0.1% (0.2) Pillar 2G ▪ Pension system 0.0% (0.0) 16.0 ▪ IRB non -compliance 0.4% (0.5) 14.0 0.5 ▪ Approval of new PD
Slide 37: Buffer to Distribution Restrictions and Principal Loss Absorption
Buffer to Distribution Restrictions and Principal Loss Absorption MDA -lines – Q3 2026, excl. 0.5% P2G 25 25 25 CET1 capital Tier1 capital Total capital 20 20 20 3.2 1.9 1.9 2.3 15 15 1.6 15 0.7 2.0 10 2.5 10 10 17.0 17.0 15.6 17.0 4.2 14.0 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% Other 90% AUD , 14% 100% 100% 3% 80% 70% 90% Norwegian 60% EUR EUR cover pool Certificates in EUR 50% 54% 88% 80% 558 95% 44 40% Subordinated debt 30% 70% 35 20% USD 10% 28% USD 0% 12% 60% 90% Senior Senior preferred Senior non-preferred non- Senior pre
Slide 42: Long-term funding
Long -term funding Jan-Sep Jan-Sep Jan-Sep Long-term bond issuance, SEK bn 2026 2025 Change Long-term bond issuance, SEK bn 2023 2024 2025 2026 Senior preferred 39 34 5 Senior preferred 56 17 34 39 Senior Non-Preferred 11 8 3 Senior Non-Preferred 11 17 16 11 Covered bonds 90 88 2 Covered bonds 163 1
Slide 43: Maturity profile senior long-term funding
Maturity profile senior long -term funding SEK bn SEK bn 100 20 80 15 60 10 40 20 5 0 0 2026 2027 2028 2029 2030- 2026 2027 2028 2029 2030- SP SNP SP Other SEK bn SEK bn 30 80 25 60 20 15 40 10 20 5 0 0 2026 2027 2028 2029 2030- 2026 2027 2028 2029 2030- SP USD SNP USD SP EUR SNP EUR 43
Slide 44: MREL-requirements and available funds
MREL -requirements and available funds Total MREL Subordinated MREL SEK bn 450 SEK bn 398 450 400 400 350 SP>1yr 350 131 300 267 300 266 250 CBR* SNP>1yr 250 64 215 SNP>1yr 200 83 MCB** 200 83 CBR* 51 64 150 150 Leverage ratio x2 Own funds 100 2x Leverage ratio x2 211 (T1+T2) 100 2x Own funds (P1 mi
Slide 45: Non-encumbered assets
Non-encumbered assets 30 September 2026 Accumulated coverage ratio in SEK bn NEA % of unsecured funding* Holdings with central banks and securities in the liquidity portfolio 849 87% Mortgage loans 876 176% Other household lending 140 191% Property company lending lowest risk class (1-3) 282 219% Ot
Slide 46: Stadshypotek & Housing markets
Contents Stadshypotek & Housing markets
Slide 47: Mortgage growth at steady positive trend
Mortgage growth at steady positive trend 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 # 2 -6 300 700 250 600 200 500 150 400 100 300 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 Debt - Interest - Stressed interest 75 service -ratio* service -ratio rate 3.0 70 2026Q3 2023Q4 2026Q3 2023Q4 2026Q3 2023Q4 13.5% 16.3% 8.8% 11.4% 6.0% 7.0% 2.5 65 60 2.0 Interest payments Float/fixed Avg. interest rates** 55 1.5 ra
Slide 50: Stadshypotek – Swedish cover pool
Stadshypotek – Swedish cover pool Current available pool size SEK 1328bn (EUR 117bn) Assets utilized SEK 622bn (EUR 55bn) Interest index distribution Loans secured by mortgages. Loans to or Floating rate (<1 year fixing) 76% Asset types guaranteed by public sector in Sweden (state & Fixed rate (>1 y
Slide 51: Housing market: Steady recovery phase
Housing market: Stady recovery phase 51
Slide 52: Transaction activity at high levels
Transaction activity at high 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 7bn) Floating rate (<1 year fixing) 93% Fixed rate (>1 year fixing) 7% 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 asset 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 566 622 1,328 54.6 110 Property values -40% 566 603 1,111 65.4 110 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: 47 % growth rate YoY SEK mn 220,000 Green, social and sustainability -linked loans as 200,000 per Q3 2026 (Q3 2025): 180,000 160,000 • 13.5% of the sum of total loans and undrawn 140,000 revolving credit facility commitments (11.4%) 120,000 100,00
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 SEK mn 200,000 Mapped against pool excl. mortgages Green Mortgages • EUR 500m Senior Non -preferred issued in 2020, maturing in 2027 180,000 • EUR 750m Senior Preferred issued in 2022, maturing in 2029 Green Build
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 Marcela Klang IR Officer IR Officer Lars.Kenneth.Dahqvist@handelsbanken.se Marcela.Klang@handelsbanken.se https://www.handel
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