Slide 1: Financial results Q2 2026
Financial results Q2 2026 Investor Presentation
Slide 2: Contents
Investor Presentation – Q22026 Contents Danske Bank – brief overview 03 – 11 Forward ’28 strategy 10 – 12 Financial highlights 13 – 19 Business & Product Units 20 – 23 Credit Quality & Impairments 24 – 31 Capital 32 – 35 Funding & Liquidity 36 – 40 ESG, Sustainability, Financial Crime Prevention 41
Slide 3: Danske Bank - a brief overview
Danske Bank - a brief overview Danske Bank 3
Slide 4: We are a focused Nordic bank with strong regional roots
Investor Presentation – Q22026 We are a focused Nordic bank with strong regional roots Finland (AA+) 3rd largest DKK >1,000bn* DKK ~1,800bn DKK >1,100bn Share of Group lending: 8% Assets under Management Loans & Mortgages Deposits GDP growth 2026E: 1.1% Unemployment 2026E: 10.5% Leading central bank
Slide 5: Nordic Outlook June 2026: Robust economies - uncertain environment
Investor Presentation – Q22026 Nordic Outlook June 2026: Robust economies - uncertain environment Denmark Sweden Forecast Forecast Forecast Forecast 2024 2025 2026 2027 2024 2025 2026 2027 GDP Growth 3.9% 3.5% 3.7% (3.0%) 2.5% (2.1%) GDP Growth 1.9% 1.7% 2.1% (2.8%) 2.4% (2.5%) Inflation 1.4% 1.9% 1
Slide 6: Macroeconomic development and outlook in the Nordics
Investor Presentation – Q22026 Macroeconomic development and outlook in the Nordics GDP development (%) Unemployment (%) House prices (index 100=2006) 8 14 280 6 12 260 4 240 10 220 2 8 200 0 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 180 -2 6 160 -4 4 140 -6 120 2 -8 100 80 2006 20
Slide 7: Executive summary: Strong financial performance driven by commercial momentum and strategic execution
Financial results – Q2 2026 Executive summary: Strong financial performance driven by commercial momentum and strategic execution Financial highlights Commercial highlights Q2 26 net profit ➢ Beneficial operating environment and macro backdrop in the Nordics underpin sustained commercial momentum DK
Slide 8: Danske Bank's strong and liquid balance sheet underpins our resilient business model
Investor Presentation – Q22026 Danske Bank’s strong and liquid balance sheet underpins our resilient business model Danske Bank has a sound funding structure and remains very well capitalised with a prudent CET1 capital buffer to the current regulatory requirements. Further, our liquidity is underpi
Slide 9: Our strategic approach to sustainability enables us to capture commercial opportunities
Investor Presentation – Q22026 Our strategic approach to sustainability enables us to capture commercial opportunities, while also managing material risks and impacts Danske Bank 9
Slide 10: Forward '28 strategy
Forward ’28 strategy Danske Bank on track to fulfill its 2028 ambitions Danske Bank 10
Slide 11: Strengthening our position as a focused Nordic leader with strong profitability and leading digital solutions
Investor Presentation – Q22026 Strengthening our position as a focused Nordic leader Targets for 2028 with strong profitability and leading digital solutions >14.5% Return on Equity Growth across High productivity Strong capital segments and markets across organisation generation & risk mgmt. DKK ~6
Slide 12: Forward '28 - Strategic targets
Investor Presentation – Q22026 Forward ’28 - Strategic targets Growth across segments and markets Strategic targets for Business Unit for ’28 (vs. 2025) Continue to grow in focus segments across Nordics, Personal Increase in number of customers with +10% building on strong momentum in LC&I, Mid- Cus
Slide 13: Financial highlights
Financial highlights Danske Bank 13
Slide 14: Strong financial performance in the core income lines and cost management in line with plan
Investor Presentation – Q22026 Strong financial performance in the core income lines and cost management in line with plan Income statement (DKK m) Highlights H1 26 H1 25 Index Q2 26 Q1 26 Index ➢ H1 26/H1 25: Total income supported by growing core income with NII and Net interest income 18,672 18,0
Slide 15: NII: Solid NII underpinned by positive trend in volumes, deposit margins and structural hedge
Investor Presentation – Q22026 NII: Solid NII underpinned by positive trend in volumes, deposit margins and stability derived from structural hedge Highlights NII H126 vs H125 (DKK m) Deposit margin development*** (%) 3,0 +3% Growing NII trajectory +3% Y/Y from improved 2.68 318 2,5 2.50 2.44 2,21 v
Slide 16: Fee income: Strong fee income up 13% Y/Y and 4% Q/Q
Investor Presentation – Q22026 Fee income: Strong fee income up 13% Y/Y and 4% Q/Q driven by customer activity and continued performance in investments offering Highlights Net fee income (DKK m) Everyday banking fee income (e.g. transfers, +13% accounts) 7,976 Continued demand for our One-Corporate
Slide 17: Trading income: Impacted by lower customer activity and valuation effects in Group Treasury
Investor Presentation – Q22026 Trading income: Impacted by lower customer activity in secondary markets and valuation effects in Group Treasury Highlights Net trading income (DKK m) LC&I -38% Y/Y: Lower result primarily driven by lower 1,736 customer activity in fixed income market making -349 Q/Q:
Slide 18: Expenses: Q2 cost/income ratio of 43%
Investor Presentation – Q22026 Expenses: Q2 cost/income ratio of 43% Highlights Expenses (DKK m) +2% Cost trajectory in line with full-year guidance 263 12,924 Y/Y: Higher staff costs driven by performance- 112 -118 based compensation partially offset by lower FCRP 174 and remediation costs 151 -126
Slide 19: Financial outlook for 2026 revised upwards to DKK 23 - 25bn
Financial results – Q2 2026 Financial outlook for 2026 revised upwards to DKK 23 – 25bn We now expect total income to be somewhat above DKK 59 billion driven by higher core banking income from higher customer activity, growing volumes, and recent policy rate hikes Income Income from trading and insu
Slide 20: Business & Product Units
Business & Product Units Danske Bank 20
Slide 21: Business units: High customer activity across segments drives volumes and income
Financial results – Q2 2026 Business units: High customer activity across segments drives volumes and income Personal Customers Business Customers Large Corporate & Institutions Highlights ➢ Higher income driven by customer activity leading ➢ Higher income mostly driven by strong fee income ➢ Higher
Slide 22: Business units: Focus on growth in Northern Ireland; continued commercial momentum in Danica
Investor Presentation – Q22026 Business units: Focus on growth in Northern Ireland; continued commercial momentum in Danica Profit before imp. (DKK m) Lending (index) In Northern Ireland, we have grown our customer numbers and market share, welcoming around 7,000 new personal current account custome
Slide 23: Realkredit Danmark portfolio overview: Continued strong credit quality
Investor Presentation – Q22026 Realkredit Danmark portfolio overview: Continued strong credit quality Highlights Retail loans, Realkredit Danmark, Q226 (%) Fixed rate (10 yrs-30 yrs) Interest-only Portfolio facts, Realkredit Danmark, Q226 ( ) = Q126 Variable rate (6m-10 yrs) Repayment Approx. 267,30
Slide 24: Credit quality & Impairments
Credit quality & Impairments Danske Bank 24
Slide 25: Asset quality: Strong credit quality and prudent macro scenarios
Investor Presentation – Q22026 Asset quality: Strong credit quality and prudent macro scenarios Highlights Impairment charges by category (DKK m) Credit quality deterioration PMAs Macro models Diversified and low-risk credit portfolio underpins our strong credit quality. 217 291 Below-cycle impairme
Slide 26: IFRS9 macro scenarios: Prudently capturing a severe downside scenario
Investor Presentation – Q22026 IFRS9 macro scenarios: Prudently capturing a severe downside scenario Base (50%) Upside (25%) Downside (5%) Severe downside (20%) Denmark 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 2026 2027 2028 2029 GDP 3.7 2.5 1.9 1.9 3.7 2.8 2.4 2.4 3.4 0.8 0.5 2.6
Slide 27: Strong regional footprint and diversified balance sheet
Investor Presentation – Q22026 Strong regional footprint and diversified balance sheet Lending by segment1 Q2 26 (%) Credit exposure by industry Q2 26 (%, rounded) Personal customers 30 4% 1% Commercial and residential real estate² 13 Northern Ireland of which residential (6%) LC&I Other Non-profit
Slide 28: Overall strong credit quality in portfolios exposed to macro cyclicality
Investor Presentation – Q22026 Overall strong credit quality in portfolios exposed to macro cyclicality CRE: Well diversified & prudently managed portfolio Agriculture: Well-provisioned agriculture book Housing: Low leverage, strong household finances DKK 340 bn in credit exposure and ECL ~1% DKK 57
Slide 29: Commercial property: Prudently managed and cash-flow based underwriting standards
Investor Presentation – Q22026 Commercial property: Prudently managed and cash-flow based underwriting standards; sound credit quality & adequate buffers in place to mitigate tail risks Highlights Lending to CRE segment by major peer banks (index)* CRE share of total portfolio by major peer banks* D
Slide 30: High-carbon energy supply financing and power generation
Investor presentation – Q22026 High-carbon energy supply financing and power generation Key points for Q2 2026 ▪ The Group monitors its exposure towards fossil fuel-related activities across the value chain, i.e. the so-called high-carbon energy supply financing. By the end of Q2 2026, high-carbon e
Slide 31: Credit quality: Remains strong
Investor Presentation – Q22026 Credit quality: Remains strong Stage 2 and 3 as % of net exposure Allowance account by business unit (DKK bn) 3,0 12 PC BC LC&I N.I. Stage 3 net exposure (% of Total, rhs) 11 2,5 Stage 2 net exposure (% of Total, lhs) 10 20.3 20.5 20.2 20.0 20.1 20.2 19.8 19.8 19.5 9 1
Slide 32: Capital
Capital Danske Bank 32
Slide 33: Capital: Strong capital base with CET1 ratio of 17.0%
Investor Presentation – Q22026 Capital: Strong capital base with CET1 ratio of 17.0% Capital ratios (%) Current capital buffer structure (%) Tier 2 AT1 CET1 Systemic risk buffer 22.4 Countercyclical capital buffer 21.7 14.7 20.9 20.5 Capital conservation buffer 3,3 2,7 19.5 0.6 2,7 2,8 SIFI buffer (
Slide 34: Strong CET1 capital generation and build-up of reserves
Investor Presentation – Q22026 Strong CET1 capital generation and build-up of reserves Highlights Common Equity Tier 1, 2010 – 2026 (DKK bn) Consistent strong capital generation of above 275bps (annualised) +60bn 152 155 Regulatory impact from EBA guidelines and 144 149 145 142 144 initial phase of
Slide 35: Fully compliant with MREL and subordination requirement
Investor Presentation – Q22026 Fully compliant with MREL and subordination requirement; expect to cover MREL need with both preferred and non-preferred senior MREL & subordination requirement* and eligible funds Q226 DKK bn (% of Group REA) Comments +35 PS > 1y NPS > 1y CET1, AT1, T2 (+4.1%) The Gro
Slide 36: Funding & Liquidity
Funding & Liquidity Danske Bank 36
Slide 37: Funding structure and sources: Danish mortgage system is fully pass-through
Investor Presentation – Q22026 Funding structure and sources: Danish mortgage system is fully pass-through Loan portfolio and long-term funding Q2 26 (DKK bn) Funding sources* (%) Q126 2,283 61% 61% Senior & Q226 163 NPS bonds 1,794 1,135 Deposits Bank loans 709 11% 10% 10% 9% 10% 9% 9% 9% Bank mort
Slide 38: Funding programmes and currencies
Investor Presentation – Q22026 Funding programmes and currencies Covered bonds by currency Q226 Largest funding programmes Q226 54% Utilisation SEK EMTN Programme 50% Limit – EUR 35bn Total DKK 159 bn Global Covered Bond 54% 45% Limit – EUR 30bn EUR 1% CHF ECP Programme 39% Limit – EUR 13bn Senior d
Slide 39: Funding plan
Investor Presentation – Q22026 Funding plan Changes in funding* 2026 (DKK bn and bp) Long-term funding excl. RD (DKK bn)** Cov. bonds Senior Non-Preferred Senior Completed (Q2-26) ** Funding plan 74bp 29bp 90-110 95 15bp 91 85bp 76bp 94bp 77bp 27 28 47bp 22 78 18 75 14 14 13 11 0 Redemptions 2026: R
Slide 40: Danske Bank covered bond universe
Investor Presentation – Q22026 Danske Bank covered bond universe – A transparent pool structure, with EUR issuance by Danske Mortgage Bank Plc & Danske Bank A/S D-pool and C-pool Danske Bank A/S C-pool S&P AAA Scope AAA Residential mortgages Denmark, Danske Bank A/S, D-pool and I-pool Sweden, Danske
Slide 41: ESG, Sustainability, Financial Crime Prevention
ESG, Sustainability, Financial Crime Prevention Danske Bank 41
Slide 42: Sustainability is an integrated part of our Forward '28 strategy
Investor Presentation – Q22026 Sustainability is an integrated part of our Forward ’28 strategy Our position today Our commercial focus Large Corporates & Institutions Personal Customers Financing the climate and energy Supporting customers with housing energy transition and providing sustainable im
Slide 43: Material sustainability topics in accordance with CSRD / ESRS
Investor Presentation – Q22026 We have identified material sustainability topics for our business in accordance with CSRD / ESRS regulation, as outlined in our Annual Report Sustainability dimension Material ESRS topics Detailed overview in Sustainability Statement Climate change (E1) section of our
Slide 44: Continued progress across our climate targets in 2025
The disclaimer for the Climate Progress Report 2025 applies to all information shown on this slide Investor Presentation – Q22026 Across our climate targets, we have seen continued progress in 2025 – driven by close collaboration with customers and investee companies Below or within 5% above linear
Slide 45: Three prioritised sustainability agendas with targets and ambitions
Investor Presentation – Q22026 Across our business, we work with three prioritised sustainability agendas, and we have set targets and ambitions for each Climate change Nature & biodiversity Human rights & social impact We support customers in the climate transition We advance our ability to support
Slide 46: Effective Management of Financial Crime Risk
Investor Presentation – Q22026 Effective Management of Financial Crime Risk A comprehensive and embedded Financial Crime Program Latest key achievements The Group has in place an effective Financial Crime Program consisting of elements which collectively • Financial Crime Plan successfully completed
Slide 47: Financial Crime Compliance: Strategic focus and key priorities
Investor Presentation – Q22026 Financial Crime Compliance: Strategic focus and key priorities Strategic focus on maintaining the Financial Crime Program Maintaining an effective and sustainable Financial Crime Program is a strategic priority. This is achieved through strong governance frameworks, ac
Slide 48: Credit & ESG Ratings
Credit & ESG Ratings Danske Bank 48
Slide 49: Danske Bank's credit ratings - Moody's and Fitch upgrades in Q2 2026
Investor Presentation – Q22026 Danske Bank’s credit ratings – Moody’s and Fitch upgrades in Q2 2026 Long-term instrument ratings Rating actions Fitch Moody’s Nordic Credit Rating S&P Scope On 21 April 2026, Moody’s upgraded Danske Bank AAA Aaa AAA AAA AAA A/S’s long-term deposits rating to Aa2 from
Slide 50: Credit ratings - Two-notch Issuer rating upgrade by Fitch
Investor Presentation – Q22026 Danske Bank’s credit ratings – Updated bank methodology combined with a large resolution debt buffer results in a two-notch Issuer rating upgrade by Fitch Rating methodology Danske Bank’s rating Operating Business Risk Asset Earnings & Capitalisation & Funding & Viabil
Slide 51: Credit ratings - No rating changes by S&P or Scope in Q2 2026
Investor Presentation – Q22026 Danske Bank’s credit ratings – No rating changes by S&P or Scope in Q2 2026 Rating methodology Danske Bank’s rating Extraordinary Anchor Potential CRA** + 1 + 2 + 3 + 4 = = SACP* + external + ALAC*** = Issuer rating SACP* adjustment support A+ bbb+ +1 +1 0 0 0 a 0 +1 (
Slide 52: Danske Bank's ESG ratings - No ESG rating changes in Q2 2026
Investor Presentation – Q22026 Danske Bank’s ESG ratings – No ESG rating changes in Q2 2026 ESG rating agency Q2 2026 Q1 2026 End-2025 End-2024 End-2023 Range CDP B 5% of the 22,100 climate scored companies B B B B A to D (A highest rating) made the 2025 CDP A List ISS STOXX C+ Prime Decile rank: 1
Slide 53: Tax & Material one-offs
Tax & Material one-offs Danske Bank 53
Slide 54: Tax
Investor Presentation – Q22026 Tax Actual and adjusted tax rates (DKK m) Tax drivers, Q2 2026 The actual tax rate of 25,5% (excluding prior- Line Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 year's adjustments) is lower than the Danish rate of 26% - due to the differences in statuary tax 1 Profit before
Slide 55: Material extraordinary items, 2024 - 2026
Investor Presentation – Q22026 Material extraordinary items, 2024 – 2026 Quarter One-off items Effect (DKK m) P&L line affected Q124 None Q224 None Q324 Reimbursement of insurance costs 179 Expense Q424 Management of 15 Danske Invest Horisont funds in Norway sold to Nordea 181 Other income Q125 Prov
Slide 56: Contacts
Investor Presentation – Q12026 Contacts Investor Relations Group Treasury and Funding Claus Ingar Jensen Mobile +45 25 42 43 70 Justin Fox Mobile: +45 23 47 92 27 Head of IR clauj@danskebank.dk Group Treasurer jfox@danskebank.dk Nicolai Brun Tvernø Mobile +45 31 33 35 47 Bent Callisen Mobile: +45 30
Slide 57: Disclaimer for Danske Bank's Climate Progress Report 2025
Investor Presentation – Q22026 Disclaimer for Danske Bank’s Climate Progress Report 2025 Danske Bank’s Climate Progress Report 2025 has been prepared by Danske Bank A/S (“Danske Bank”). Danske Bank is under supervision by the Danish Financial Supervisory Authority (Finanstilsynet). The publication i
Slide 58: Disclaimer
Investor Presentation – Q22026 Disclaimer Important Notice This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Danske Bank A/S in any jurisdiction, including the United States,