Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordea Mortgage Bank — Debt Investor Presentation (2024)
24 slides from Nordea Bank Abp's debt investor presentation, 2024
Slide 1: Nordea Mortgage Cover pools 1 & 2
~ Nordea Mortgage Cover pools 1 & 2
Slide 2: Table of contents
Table of contents 1. In brief 3 2. Cover pool key characteristics 6 3. Asset quality 10 4. Covered bond framework 14 5, Macroeconomy 7 6. Further information
Slide 3: 1. In brief
1. In brief
Slide 4: Covered bonds: Nordea covered bond operations
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: Nordea Mortgage Bank Plc — overview
Nordea Mortgage Bank Plc — overview Q3 2024 it 100% owned subsidiary of Nordea Bank Abp - the largest Nordic financial institution “a Operates as a mortgage credit institution with the main purpose of issuing covered bonds =] Issuing covered bonds according to the Finnish covered bond legislation Le
Slide 6: 2. Cover pool characteristics
2. Cover pool characteristics
Slide 7: Cover pool 1 (Legacy) and Cover Pool (New)
Cover pool 1 (Legacy) Cover Pool 2 (New) Pool notional Outstanding Covered Bonds Cover pool content Geographic distribution Asset distribution Weighted average LTV* Average loan size* Over collateralisation, OC Rate type* Amortisation* Substitute assets Pool type Loans originated by * Residential
Slide 8: Cover pool geographic distribution
0.3% 4% 3% 15% 42% 13% 51% 51% 21% 2% 0.3% 4% 15% 44% 13% 52% 50% 20% 8
Slide 9: Borrower type distribution
0.03% 0.2% 7% 6% Natural persons Natural persons Housing companies Housing companies Other housing Other housing associations associations 93% 94% 9
Slide 10: 3. Asset quality
3. Asset quality
Slide 11: Loan To Value (LTV) distribution
Continuous distribution where each loan can exist in multiple buckets Loan To Value (LTV) Q3 2024 Cover Pool 1 - Weighted Average LTV — Indexed — 51.0% Nominal % Residential Loans 100% 149 76% 13 16 12 08 11% 8% 6% a — — Yd — — 0-40% 40-50% 50-60% 60-70% Total 0-40% 40-50% 50-60% 60-70% Total Cover
Slide 12: Cover Pool 1 and Cover Pool 2 trends
Cover Pool 1 100% 100% 80% 80% Cover 60% 60% Pool 2 40% 40% 20% 20% 0% 0% 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 12
Slide 13: Underwriting criteria
Underwriting criteria Residential mortgage loans + Nordea’s credit decision is based on the borrower's repayment capacity and collateral is always taken + Collateral must be in the form of mortgages in real estate or in shares in housing companies + Repayment ability of borrowers is calculated using
Slide 14: 4. Covered bond framework
4. Covered bond framework
Slide 15: Legal framework, LTV ratios, Coverage
Legal framework LTV ratios • • • • Coverage • • • • Liquidity risk mitigation • • • •
Slide 16: Registration, Bankruptcy remoteness, Preferential claim
Registration • • Bankruptcy remoteness Preferential claim Post-bankruptcy procedures • • •
Slide 17: 5. Macroeconomy
5. Macroeconomy
Slide 18: Nordic economic development
Nordic economic development Activity picks up GDP Unemployment rate 140 4 index 2007Q1=100 GDP, level index 2007Q1=100[ °F 4¢ Unemployment vf” 1354 135 10 10 — Swed 1307 — Sweden pe 9 125 + —pDenmark " 125 5 120 7 Finland 120 7 us M5 og 105 105, 100 1000, | 954 sy 1 90 90 2008 2010 2012 2014 2016 20
Slide 19: Nordic economies
Nordic economies Precision play Policy rates 5.0 ty, 45 40 35 3.0 25 20 15 1.0 Os 0.0 -05 “1.0 Policy rates % 1°12°973°«214°:15°:'16«17-:«18:«19-« 20-21 22°23 24 25 26 —Sweden Norway — Denmark —Euro Area 5.0 Public balance/debt, % of GDP, 2024E (IMF) 150 ? 2o2ae ps Nocway q 100 8 7s * 50 Bra] commen
Slide 20: Households
Households Purchasing power is increasing, but from low levels Household debt Household savings 300 40% of disposable Household debt % of disposable[ 30° 20.0 4% of disposable Household saving rate 20.0 275 4income income} 275 47.5 Jincome 75 250 250 15.04 Sweden 15.0 ———— ~~ Norway 225 225 125 = De
Slide 21: Housing markets
Housing markets Brighter outlook Home prices Households’ credit growth 250 index, 2007=100 Home prices 250 15.0) iy Households’ credit growth % viv 225 225 125 10.0 2001 — sweden 200 7s 175 Norway 175 5.04 Denmark 25 150 Finland 150 0.0 125 125 25 -5.0 100 100 7S 75 75 40.0 07 08 09 10 11 12 13 14 1
Slide 22: 6. Further information
6. Further information
Slide 23: Nordea Mortgage Bank — outstanding benchmark covered bonds
Nordea Mortgage Bank — outstanding benchmark covered bonds Q3 2024 ISIN Currency Amount (EURm) Maturity Coupon XS1132790442 EUR 1000 05/11/2024 1.000% XS1825134742 EUR 1000 23/05/2025 0.625% XS2157194643 EUR 6 000 16/11/2025 FRN XS2561746855 EUR 1.000* 01/12/2025 2.625% XS1963717704, EUR 1500 18/03/
Slide 24: Contacts
Contacts Investor Relations Maria Caneman Head of Debt IR and Ratings Tel: +46 10 156 50 19 Mobile: +46 768 24 9218 maria.caneman@nordea.com Group Treasury Christian Peschel Dealer Tel: +46 8 429 3251 Mobile: +46 72 142 17 51 christian.peschel@nordea.com 24 Morten Kiel Head of Covered bonds Tel: +45
Nordea Mortgage Bank — Debt Investor Presentation (2024) on 6ix