Slide 1: Half-year results 2024
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect management's current views with respect to certain future events and potential financial performance. Although Nordea believes that the expectations reflected in such forward-looking statements are reasonable, no assurance
Slide 3: Second-quarter highlights 2024
Second-quarter highlights 2024 Executive summary Continued high-quality income growth - Net interest income up 4%, net fee and commission income up 6% and net fair value result down 15%. Total income up 3% - Operating profit remained strong, 2% lower compared to Q2 2023 Return on equity* 17.9% and e
Slide 4: Key financials
Key financials Second-quarter results 2024 income statement and key ratios Q224 Q223 Q2/Q2 Q124 Q2/Q1 Net interest income 1,904 1,831 4% 1,954 -3% Net fee and commission income 795 751 6% 763 4% Net insurance result 63 68 -7% 61 3% Net fair value result 247 290 -15% 291 -15% Other income 21 15 40% 1
Slide 5: Net interest income
Net interest income Stable volumes, improved margins Year-over-year bridge, EURm 1,904 ee 2-0 26 31 ° 68 0 7 1831 cal — Q223. Volumes Margins Deposit Treasury- Other FX Q224 hedge related items Quarter-over-quarter bridge, EURm . ! @ 1,954 100007 600 a 12 Zz Qo 2 26 al Q124 Volumes Margins Deposit T
Slide 6: Net fee and commission income
Net fee and commission income Return to growth driven by higher savings and capital markets activity Year-over-year bridge, EURm => ais + Net fee and commission income 0, _— ge Tag i up 6% Wo . . i * Savings fee income up due to 751 19 . — higher assets under management Za = - AUM up 10% to EUR 400b
Slide 7: Net fair value result
Net fair value result Higher business activity in customer areas Net fair value result, EURm r t-15%q * Higher business activity in 290 291 | customer areas mainly in FX and 62 3 247 rates products 225 35 een 0 ven 154 * Market-making slightly down from Q223 that saw high activity in rates products
Slide 8: Costs
Costs Costs in line with plan Year-over-year bridge, EURm v 1,278 — Won Bae _. 31 1205 32 Q223 Underlying Technology M&A Regulatory FX Q224 costs &risk integration fees management costs investments Quarter-over-quarter bridge, EURm 1289 5g 1000-7 ae —— 28 45 10 —— Q124 Underlying Technology M&A Regu
Slide 9: Net loan losses and provisions
• 68 - -21 61 7 - 82 - Individual provisions Collective Net loan losses Fair value adj. Total and write-offs provisions (net) incl. Nordea Kredit • - • - -
Slide 10: Capital
Capital Continued strong capital generation CET1 capital ratio development, % se \ 09 07 172 i 1 0.1 Q124 Profit Dividend Volumes WM Current CET1 requirement Upcoming Norwegian SyRB (from Q324) REA development, EURbn 140 141 139 Credit Quality Requirement Capital policy buffer Q223 Q323 Q423 CET1 ca
Slide 11: Personal Banking
Personal Banking Solid income growth driven by deposit and savings products Total income, EURm r+ 4%) > * Total income up 4% 1135 1176 1183 1189 1176 + Net interest income up 3%, driven by deposit margins * Deposit volumes up 2% 825 852 870 869 848 Mortgage volumes stable * Net fee and commission in
Slide 12: Business Banking
Business Banking Solid income growth in slower markets Total income, EURm D> > * Total income up 4% * Net interest income up 2%, supported by improved deposit 847 844 870 873 879 margins and deposit volume growth, up 1% an * Lending volumes stable following subdued corporate 592 610 613 Gis market 1
Slide 13: Large Corporates & Institutions
Large Corporates & Institutions Strong net fee and commission income and solid customer activity Total income, EURm Total income up 6% Net interest income up 1%, driven by positive margin 556 561 591 623 587 development om * Deposit volumes up 12% 372 355 ae . A 38) 360 * Net fee and commission inco
Slide 14: Assets under management
• • • • • Assets under management, EURbn 0pp 500 1,0 0,8 300 0,6 200 0,4 100 0,2 0 0,0
Slide 15: 2025 financial targets
- } 2025: The preferred dh 2025 financial target partner in the Nordtes ” Return on equity . Gee > 15% Assumes CET1 requirement of 15%, ~ Noe including management buffer Rates assumed to normalise a a \ Supported in 2025 by | Uniquely well placed — Nordic diversification at scale , Cost-to-income ra
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Slide 17: CET1 Q224 pro-forma regulatory impacts
• 2024 2025 2026-2027-> 17.5 - • - - 0.5 15.5 -2.0 - -0.3 -0.4 -0.2 • CET1 Q224 Retail Pro-forma Norwegian Removal NO New NO Basel IV Fundamental Regulatory models, incl. CET1 acquisition LGD floor RRE Review of add-ons add-ons RW floor Trading removed - Book - (FRTB)**
Slide 18: Capital excellence
Supplementary information Capital excellence Strong capital generation supporting returns Reiterating shareholder returns supported by strong capital generation EUR ~17-18bn Year Average quarterly capital generation, bp Share buy-backs 8 N 2017-2019 ~40 L's N Dividends Ss a 2020-2022 ~50 Executed bu
Slide 19: Net interest income sensitivity
Supplementary information Net interest income sensitivity Net interest income sensitivity to policy rate changes Sensitivity to +50bp parallel rate shift in policy rates*, EURm Le Denmark Finland Norway Sweden Total year 1 NII Nil impact impact incl. hedge increase MB Total net impact YF Hedge impac
Slide 20: Credit portfolio - real estate management industry
Supplementary information Credit portfolio — real estate management industry (REMI)* Well-diversified portfolio, high-quality lending Lending volumes ‘Stable Diversified across countries jill 7 Q223) Q323. -Q423. Q124.—Q224 Norway Vs eorar Micre Mi RRE Finland 90% of portfolio with low probability D
Slide 21: Real estate loan-to-value and interest coverage
• 72 65 64 65 65 37% - 57 53 31% 28% 52 51 52 24% 27% 18% 10% 10% 12% 1% 1% 2% • DK FI NO SE Total Current 20% value decline Current 0–40% LTV 51–60% LTV 71–80% LTV - 20% value decline 41–50% LTV 61–70% LTV >80% LTV - 3.8 3.7 • 3.4 3.3 46% 40% 36% 2.3 1.9 1.9 1.7 25% - 1.5 1.5 15% 14% 15% 5% 2% 0% 0
Slide 22: Credit quality and stage distribution
50% RW floor • 8% 50% 6% 30% 6% 95% 96% 94% 94% 93% • 1% 1% 5% 1% 6% 1% 6% 1% • 3% 3% Q223 Q323 Q423 Q124 Q224 Q224 1-notch 2-notch 3-notch Impact Stage 1 Stage 2 Stage 3 • 60 59 63 57 57 51 51 51 52 47 • Impairment rate Coverage ratio Q223 Q323 Q423 Q124 Q224
Slide 23: Credit quality supplementary data
• 19,469 19,092 14,027 13,988 16,207 • 2,238 2,234 2,457 2,343 2,585 • • Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224