Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordea Kredit — Debt Investor Presentation (2024)
27 slides from Nordea Bank Abp's debt investor presentation, 2024
Slide 1: Nordea Kredit Covered Bonds Q3 2024 Debt Investor Presentation
Slide 2: Table of contents
Table of contents 1. Nordea covered bond operations Nordea Kredit in brief Cover pool key characteristics Asset quality Underwriting criteria Danish covered bond framework a! fn fl p> fo Macroeconomy . Relevant links an Nordea
Slide 3: 1. Nordea covered bond operations
1. Nordea covered bond operations Habe pole: tly Nordea
Slide 4: Covered bonds
Covered bonds Nordea covered bond operations Four aligned covered bond issuers with complementary roles Legislation Cover pool assets Cover pool size Covered bonds outstanding oc Issuance currencies Rating (Moody's / S&P) Outstanding green covered bonds Nordea Eiendomskreditt riLN Up Norwegian Norwe
Slide 5: 2. Nordea Kredit - in brief
2. Nordea Kredit - in brief alee pele tly Nordea
Slide 6: Nordea Kredit — in brief
Nordea Kredit — in brief * 100% owned subsidiary of Nordea Bank Abp - the largest Nordic financial institution * Operates as a mortgage credit institution with the purpose of granting mortgage credit loans funded by issuing mortgage credit bonds (covered bonds) * Founded in 1993 and supervised by th
Slide 7: 3. Cover pool key characteristics
3. Cover pool key characteristics Habe fee: tly Nordea
Slide 8: Cover pool key characteristics
Cover pool key characteristics Q3 2024 Outstanding covered bonds EUR 56.2bn Cover pot content oe ee Geographic distribution Throughout Denmark with concentration in urban areas Weighted average LTV 48.9% Average residential loan size EUR 207,488 Over-collateralisation, OC 7TA% Interest rate type (bo
Slide 9: Loan portfolio
Loan portfolio Q3 2024 Market share! by property category Market share! — overall ™Q22024 162% 16.7% = Q3.2024 2% 16.0% 16.1% 129% 12.8% 10.7% 19.5% 10.1% 10.0% 0.6% 0.6% m= ns Other Privaterental Ownerocc. Manufactoring& Offices &retail Agriculture housing dwellings & crafts prop. holiday homes 9 M
Slide 10: Total loan portfolio (CC1 and CC2)
Total loan portfolio (CC1 and CC2) Q3 2024 Loan portfolio by loan type re of interest-only mortgages 942020 942021 Q4.2022 942023 32024 942021 Q4.2022 942023 22024 Q32024 mixed Rate mFloatingRate = ARMs « Nordea
Slide 11: Loan portfolio
Loan portfolio Q3 2024 an balance by region oan balance by property catego North DK Other properties 4% Agri. properties 8% Central DK Commercial properties 2% 8% Captital region Rental Southern DK 1% Owner occ. dwellings Zealand region ' Nordea
Slide 12: Green and sustainable portfolio by category
Sustainable management and Q2 2024 Q3 2024 living natural resources Pollution prevention 924 892 906 (organic farms), EURm 75.3 and control, EURm 59.3 881 3.5% 2.8% Renewable energy, EURm 29.6 EURm 1.4% 2,156 Energy efficiency, EURm 792.5 36.8% 274 273 Green building (EPC-A-B), EURm 1,199.2 55.6% 76
Slide 13: Financed emissions and portfolio by EPCs
Financed emissions — and portfolio by EPCs Q3 2024 Financed emissions Portfolio by EPCs ‘3) Total Financed Financed Total Coverage emission emission emission emission Volume (volume) tCO2 tCO2 C02/DKKbn CO2/sqm EPC DKKbn Owner. occ. dwellings 261 256 99.4% 99.4% 451,491 457,523 217,182 221,539 0.83
Slide 14: 4. Asset quality
Slide 15: Loan to value (LTV) — loans for residential and commercial properties
Loan to value (LTV) — loans for residential and commercial properties Q3 2024 Loan type Mortgage loans for residential properties Mortgage loans for commercial properties Weighted average LTV — indexed 53.5% 42.3% LTV buckets Nominal (EURm) % Loans Nominal (EURm) % Loans >0-<40% 32,682 72.2% 7,636 7
Slide 16: Asset quality
Asset quality Q3 2024 Arrears (owner occupied dwellings and holiday homes) ” Loan to value (LTV) weighted average (all loans) All mortgage banks (including Nordea Kredit) ——=Nordea Kredit 50% 0.30% 0.25% 473% Nordea Kredit 0.18% (last 0.17%) IN 0.20% \ 45% o18% \ NL 0.10% a Allmortgage banks (includ
Slide 17: 5. Underwriting criteria
5. Underwriting criteria Jia ls tly Nordea
Slide 18: Underwriting criteria
Underwriting criteria Private households Corporates, agriculture etc. * Behavioural score and individual credit assessment are ¢ A financial analysis of the customer is made, including conducted based on income information, e.g. payslips and tax adjustments for current market conditions information
Slide 19: 6. Danish covered bond framework
6. Danish covered bond framework Jia ls tly Nordea
Slide 20: Danish covered bond framework
Danish covered bond framework Legal framework * The Financial Business Act * The Mortgage-Credit Loans and Mortgage-Credit Bonds, etc. Act with several implementing executive orders . Registration Interest Interest + Anissuing institution is required to maintain a static cover pool — payment pene o—
Slide 21: 7. Macroeconomy
7. Macroeconomy Ua. eal a tly a Nordea
Slide 22: Nordic economic development
Nordic economic development Activity picks up GDP Unemployment rate 140 Tindex '2007Q1=100 GDP, level Index 2007Q1=100 140 " % Unemployment % " 135 10 430 | —Sweden ° Norway 125 7 = Denmark s 120 | —Finlana 7 us 6 6 110 5 s 105 a 4 100 i 2 3 9s 2 2 a oo : = Sweden — Norway — Denmark — Finland ; 2008
Slide 23: Nordic economies
Nordic economies Precision play Policy rates 5.0 ty, 45 40 35 3.0 25 20 18 1.0 Os 0.0 -05 “1.0 Policy rates 1°12°973°«214°:15°:'16«17-:«18:«19-« 20-21 —Sweden — Norway — Denmark — Euro Area 22°23 24 25 26 5.0 Fiscal Balance, % of GDP 150 25 100 75 ° Norway Wretand 4 Netherlands Public balance/debt,
Slide 24: Households
Households. Purchasing power is increasing, but from low levels Household debt % of disposable] 30° incomel|. 275 300 49% of disposable 275 fincome Household debt 250 250 225 225 200 200 175 175 150 150 125 125 100 100 75 75 so — Sweden — Norway — Denmark — Finland 50 2002 2004 2006 2008 2010 2012 2
Slide 25: Housing markets
Housing markets Home prices Households’ credit growth 0 ; 0 o 25 Home prices 25 158.0 \%e v/y Households’ credit growth % y/y| 6 125 125 225 225 10.0 10.0 — 200 200 7S 7S 175 175 5.0 5.0 25 25 150 150 oo oo Denmark 125 125 25 25 “50 5.0 100 100 75 7s 7s 75 -10.0 -10.0 07°08°09" 10°11 12°13 14°15 16°
Slide 26: 8. Relevant links and Contacts
8. Relevant links and Contacts | tp ele: tly 26 Nordea
Slide 27: Links for more information
Links for more information Nordea Kredit Legislation + Nordea Kredit ECBC harmonised transparency templates. * Danish mortgage credit institutions are supervised by the Danish FSA Link: httos://www.nordea.com/en/investor-relations/reports-and-presentations/bonds/nordea- (Finanstilsynet). kredit-cove