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

  1. Slide 1: Nordea Mortgage Cover pools 1 & 2

    ~ Nordea Mortgage Cover pools 1 & 2

  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

  3. Slide 3: 1. In brief

    1. In brief

  4. 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

  5. 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

  6. Slide 6: 2. Cover pool characteristics

    2. Cover pool characteristics

  7. 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

  8. 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

  9. 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

  10. Slide 10: 3. Asset quality

    3. Asset quality

  11. 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

  12. 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

  13. 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

  14. Slide 14: 4. Covered bond framework

    4. Covered bond framework

  15. Slide 15: Legal framework, LTV ratios, Coverage

    Legal framework LTV ratios • • • • Coverage • • • • Liquidity risk mitigation • • • •

  16. Slide 16: Registration, Bankruptcy remoteness, Preferential claim

    Registration • • Bankruptcy remoteness Preferential claim Post-bankruptcy procedures • • •

  17. Slide 17: 5. Macroeconomy

    5. Macroeconomy

  18. 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

  19. 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

  20. 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

  21. 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

  22. Slide 22: 6. Further information

    6. Further information

  23. 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/

  24. 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

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