Svenska Handelsbanken Ab Class A · OMXSTO:SHB_A
Svenska Handelsbanken Ab Class A — Handelsbanken — Debt Investor Presentation (2025)
62 slides from Svenska Handelsbanken Ab Class A's debt investor presentation, 2025
Slide 1: Debt investor presentation Q3 2025
Handelsbanken Handelsbanken Debt investor presentation Q3 2025
Slide 2: Contents
Contents * Fundamentals * Balance sheet structure & Liquidity * Latest interim results - Asset quality * Capital + Funding + Stadshypotek & housing markets * Sustainability
Slide 3: Fundamentals
Fundamentals Handelsbanken
Slide 4: Handelsbanken
0,40 Handelsbanken 0,15 0,16 0,19 DNB 0,13 0,06 Nordea SEB Swedbank Danske Bank 112 70% 64% 57% 62 55 53 46 22% 23% 22 11%
Slide 5: Net credit losses
Net credit losses Credit loss ratio 1997 — 2024 12% ‘——Handelsbanken 1.0% 08% 06% 0.4% 0.2% 0.0% 0.2% -0.4% 1997 4998 1999 2000 2001 2002 2003 2004 2006 2006 2007 2008 * Average for SEB, Nordea, Swedbank, Danske Bank and DNB Handelsbanken 2009 2010 2011 2012 2013 Comparable Nordic banks” 2014 2015 2
Slide 6: Lending in home markets
Lending in home markets* Other lending to corporates and a households Commercial Average LTV 47% 14% 80% Residential Real Average LTV 48% 70% Estate LTV>75% 0.1% 60% iske 50% SS Housing co- Average LTV 28% low operatives LTV>75% 0.0% : 11% 30% sos Household Average LTV 58% —_—___——— mortgages LTV>75
Slide 7: Lending by home market
100% 58 100% Netherlands Handelsbanken 52 90% 132 19 Markets 90% 80% 64 172 Netherlands 80% Norway 70% 167 70% 60% Corporates Norway 60% UK SEK 1054 bn 50% 154 Households 50% 40% SEK 1235 bn UK 952 40% 30% Sweden, other 25 30% Sweden other 20% 470 20% 10% Sweden, Stadshypotek Sweden 10% 0% Stadshypo
Slide 8: Other corporate lending
100% 100% 100% Other corporate lending 90% Holding companies, insurance companies, 90% 90% Retail and services 80% 80% 80% Manufacturing The Netherlands 70% 70% 70% Property management Other property companies 60% 60% 60% 50% Housing co-operative associations 50% 50% Norway Private individuals - oth
Slide 9: Balance Sheet & Liquidity
Balance Sheet & Liquidity Handelsbanken
Slide 10: Strength and Stability
Strength and Stability Low risk balance sheet. Focus on long-term relationships Conservative funding structure & ample liquidity buffer * Easy to understand balance sheet * Balance between sticky deposits and through decades of low risk tolerance diversified wholesale funding * Lowrisk appetite, wit
Slide 11: Cash and balances at central banks; liabilities and issued securities
3,800 3,800 • 799 851 3,300 3,300 Cash and balances at central banks Liabilities and issued 97 2,800 securities maturing • 2,800 within 1 year 700 Bonds and other highly 2,300 liquid securities 2,300 1,432 Deposits from the including derivatives public • 1,800 1,800 Loans repaid and Issued securitie
Slide 12: NSFR
122% NSFR 120% 122% Available Stable Funding 2106 SEK bn Own funds (100% weight) 204 SEK bn 110% Stabe retail deposits (95%) 387 SEK bn Less stable retail deposits (90%) 320 SEK bn Operational deposits (50%) 140 SEK bn 100% Other wholesale funding (50%) 1053 SEK bn Other 2 SEK bn 90% Required Stable
Slide 13: LCR 386 SEK bn cushion
1,200 250% 1,000 • 200% 800 LCR 600 150% • 188 % 400 386 SEK bn cushion 100% 200 • 0 50% HQLA Net Cash 30 sep 30 sep 30 sep 30 sep Outflows 2019 2021 2023 2025 • Liquidity reserve, SEKbn Cash and balances with central banks 624 • Securities issued or guaranteed by sovereigns, central banks etc 204 E
Slide 14: Deposits
1,000 600 1,600 800 1,400 1,200 328 400 600 181 SEK bn 1,000 SEK bn 229 461 SEK bn 800 681 400 600 200 400 280 616 200 404 200 0 89 0 0 Total deposits Private Corporate On demand deposits (excl retail/SME) On demand deposits On demand deposits Guaranteed Not guaranteed retail/SME (excl retail/SME) O
Slide 15: Latest interim results
Latest interim results Handelsbanken
Slide 16: Q3 2025 highlights
Q3 2025 * SEK 7.8bn in operating profit * 18.3% ROE + Increased income and decreased costs * 40.5% C/Iratio + 7th consecutive quarter with net credit loss reversals * 18.2% CET1 ratio, 350bp above regulatory requirement * SEK 10.65 per share in anticipated dividend for first 9 months 16
Slide 17: Financial summary
Financial summary Q3 2025 compared to previous quarter Adjusted for items affecting SEKm ‘Q3 2025 Q2 2025 Change _ comparability” Net interest income 10,468 10,689 -2% -2% Net fee and commission income 2979 2,866 4% 4% Total income 14.121 13.624 4% 4% Total expenses 576 -6,017 -5% -4% Profit before
Slide 18: Home markets
Home markets Sweden 73% of Group operating profits Q3 2025 vs Q2 2025: Operating profit SEK 5:7bn Operating profit, qoq + Cilratio 30.7% (32.3) Return on allocated capital 15.7% (16.4) Average lending, qoq % Average deposits, qoq 1% AUM, goq 43% = United Kingdom 13% of Group operating profits Q3 202
Slide 19: Net interest income development
Net interest income development Q3 2025 compared to previous quarter Nil change: -2% SEKm 10,800 40,700 ——— 10,600 Contribution from: —_— Volumes: +0.2%-points Margins and 40,400 ing: -17%-poi era funding: 1.7%-points food 8 10,500 10,300 40200 10,468 10,100 10,000 Q2.2025 Volume inhome Margins and
Slide 20: Lending volumes in home markets
1,250 1,100 1,200 1,050 1,000 1,150 950 1,100 900 1,050 850 1,000 800 950 750 900 700 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025
Slide 21: Deposits from the public
Deposits from the public* Households Corporates 700 700 650 600 600, 550 550, 500 500 450 450 400 400 350 350 300 300 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025 Handelsbanken * Volumes at EOP inhome markets: Sweden, Norway,
Slide 22: Net fee and commission income
Net fee and commission income SEK m 3,200 3,100 CAGR: +3% 3,000 2,900 2,800 2,700 2,600 2,500 2,400 Q3 2023 Q3 2024 Q3 2025 Savings related” (68% of net fee and commissions) Net payment fees (15%) Other (17%) SEK m SEKm SEKm 2500 1,000 4,000 CAGR: +5% 900 900 800 700 600 CAGR: -3% 500 400 300 200 10
Slide 23: Expenses
Expenses Q3 2023 — Q3 2025 SEKm i 3,594 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 i) gg -5' wh 544 515 8 SeeeRRS a8 8 §S SR RERRS SRSLPERS SRA ERS 8 GoFGCG SEF OG COO SFU SD oF CGS FOG Staff costs exclitems affecting comparability Other expenses Depreciation, amortisation and impairment Handelsb
Slide 24: Asset Quality
Asset Quality Handelsbanken
Slide 25: Asset quality and credit losses
Asset quality » pang miraters SEK -im + Better quality on newloans compared to exits SEK 6m + Other (incl. effects from change in loan durations and migrations to stage 3) SEK 22m Expected credit losses Credit losses Credit losses, net Stage 3, net SEKm SEKm SEKm 120 -100 Updated 100 macro assumptio
Slide 26: Annual forecasts Scenario 2025-2029
Central bank interest Commercial property House price Annual GDP growth, Unemployment, rates price development, development, forecasts % % % % % Scenario 2025-2029 Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin 2025 0.6 0.7 1.3 0.4 9.0 5.2 2.4 9.1 2.0 4.0 4.3 2.0 -3.3 2.6
Slide 27: Exposure by country
140,000 200,000 42% 64% 180,000 120,000 160,000 100,000 29% 140,000 80,000 24% 120,000 100,000 60,000 80,000 25% 40,000 60,000 6% 40,000 20,000 6% 6% 20,000 0 Sweden Norway UK the Netherlands 0 Sweden UK the Netherlands Norway
Slide 28: Property management — Exposure & Stage provisions
Property management — Exposure & Stage 2 provisions Total exposure SEKmn sep 24 Handelsbanken 31 mar 2022 Exposure - Property companies (RHS) Stage 2 provisions — Sweden and abroad SEK ma 60,000 160,000 50,000 140,000 120,000 40,000 400,000 30,000 80,000 20,000 60,000 40,000 10,000 20,000 ie) 0 sep
Slide 29: Lending by collateral and country
SEK bn Sweden UK Norway Netherlands Group % Government guarantees 19 0 5 24 3% Residential 178 69 16 16 280 42% Office, retail, hotel 89 53 74 17 233 35% Other real estate 12 0 9 39 61 9% Industry, logistics 18 19 9 1 47 7% Agriculture, forestry 1 1 0 - 2 0% Other collateral 1 0 0 - 1 0% Unsecured 1
Slide 30: Capital
Contents Capital Handelsbanken
Slide 31: Leverage ratio
▪ ▪ ▪ ▪ ▪ Leverage ratio Requirement
Slide 32: Change in CET1-ratio from previous quarter
Change in CET1-ratio from previous quarter CET1-ratio REA % ‘SEK bn 194 bla Be = a 810 oo oo 19.0 805 188 186 800 18.4 795 2808 18.2 790 18.0 18.4 18.2 78 785 oo == po —==z 922025 Earnings forthe Volume Migrations — Riskweight floor Other Antecipated 93.2025 92.2025 Volume Migrations (volume Riskwei
Slide 33: Capital requirements and buffers
Requirement, SEKm Q325 Total 18,916 T1 13,386 CET1 117,978 FI requirement, % of REA Q325 Target Total 18.7% > +1 %-point T1 16.4% > +1 %-point CET1 14.7% 1-3 %-points above req Actual, % of REA Buffer to requirement (%) Buffer to requirement (SEKm) Total capital ratio, CRR 22.6% 3.8% 30,722 Tier 1 r
Slide 34: Risk exposure amount
900,000 CVA and market risks 800,000 CRE-floors Operational risk Norway 700,000 CRE-floors 600,000 Sweden Mortgage risk 500,000 weight floor Sweden Mortgage risk 400,000 weight floor Norway (20%) Credit risk, 300,000 Standardised 200,000 Credit risk, IRB 100,000 0 REA
Slide 35: Capital requirement and capital base
25 25 25 3.2 20 20 20 1.2 1.2 2.4 15 15 1.7 15 1.0 2.0 10 2.5 10 10 18.2 18.2 18.2 15.9 4.1 14.2 5 5 5 4.5 0 0 0 Minimum capital req. Systemic risk buffer** Capital base, SEKbn Countercyclical buffer Pillar 2R • • • • • • • • • • •
Slide 36: AT1, T2 and SNP issuance
AT1 format Issue month Currency Amount (m) First potential call date SHBASS 4.375%, PNC6.5 Sep 2020 USD 500 Mar 1 2027 SHBASS 4.750%, PNC10.5 Sep 2020 USD 500 Mar 1 2031 T2 format Issue month Currency Amount (m) First potential call date SHBASS 4.625%, 10NC5 Aug 2022 GBP 500 Aug 23 2027 SHBASS 3.25%
Slide 37: Funding
Funding Handelsbanken
Slide 38: Highest credit rating globally
Highest credit rating globally Highest rating globally among comparable Banks when combining Fitch, Moody’s and S&P* Bank Moodys S&P Fitch Handelsbanken Aa2 AA- AA+ Bank 2 Aat AAS AA i 1 a3 eo a mn Ratings comfirmed Bank 4 Aat AA- AA- Bank 5 Aat AA- AA- Bank 6 Aad AA- - Bank7 Aad AAW June 2025: Fitc
Slide 39: Funding structure and maturities
100% Other 90% 15% 100% 100% 80% 70% 90% 90% Norwegian EUR 60% EUR 78% cover pool Certificat in EUR 50% 58% es 43 80% 576 80% 40% Subordinated debt 30% 70% 35 70% 20% USD USD Norwegia 10% 27% 22% n cover 60% pool in 0% 60% Senior NOK Senior preferred Senior non-preferred non- 22 Senior preferred 50%
Slide 40: Long-term bond issuance
Jan-Sep Jan-Sep Jan-Sep Long-term bond issuance, SEK bn 2022 2023 2024 2025 Long-term bond issuance, SEK bn 2025 2024 Change Senior bonds 57 67 34 42 Senior bonds 42 34 8 Covered bonds 131 163 121 88 Covered bonds 88 99 -11 Subordinated 11 9 6 0 Subordinated 0 0 0 Total 130 133 -3 Total 199 239 161
Slide 41: Maturity profile by currency
80 10 70 60 50 40 5 30 20 10 0 0 2025 2026 2027 2028 2029- 2025 2026 2027 2028 2029- SP SNP SP Other 70 25 60 20 50 15 40 30 10 20 5 10 0 0 2025 2026 2027 2028 2029- 2025 2026 2027 2028 2029- SP USD SNP USD SP EUR SNP EUR
Slide 42: Senior debt buffers and available funds
450 450 400 385 400 350 SP>1yr 350 300 281 133 300 250 CBR* 252 70 SNP>1yr 250 223 200 71 SNP>1yr MCB** 71 200 CBR* 58 150 70 150 Leverage ratio x2 Own funds 100 2x 217 Leverage ratio x2 (T1+T2) 100 2x 217 Own funds (P1 min+P2R) 181 153 (P1 min+P2R) 181 50 50 153 0 0 Risk based Leverage based Availa
Slide 43: Non-encumbered assets September 2025
Non-encumbered assets 30 September 2025 Accumulated coverage ratio in SEK bn NEA % of unsecured funding” Holdings with central banks and securities in the liquidity portfolio 903 92% Mortgage loans 813. 174% Other household lending 136 188% Property company lending lowest risk class (1-3) 257 214% O
Slide 44: Stadshypotek & Housing markets
Stadshypotek & Housing markets Handelsbanken
Slide 45: Mortgage growth picking up
Mortgage growth picking up == Housing prices and lending 20 15 oo a aw, N CN > 5 WL a $ a - ze 0 ewe 5 10 Housing prices —Total Lending, Households “15 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ‘Sources: Macrobond, Statistics Sweden (SCB), Va
Slide 46: Handelsbanken
Handelsbanken 1,000 900 800 700 600 500 400 300 200 2011 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Slide 47: Debt/Income and LTV for new lending
75 3.4 70 2.9 65 2.4 60 1.9 55 1.4 50 0.9 45 0.4 40 -0.1 01/2019 01/2020 01/2021 01/2022 01/2023 01/2024 01/2025 Debt/Income (new) - right scale LTV stock LTV new
Slide 48: Swedish cover pool
Current available pool size SEK 1316bn (EUR 119bn) Assets utilized SEK 664bn (EUR 60bn) Interest index distribution Floating rate (<1 year fixing) 66% Loans secured by mortgages. Loans to or Fixed rate (>1 year fixing) 34% Asset types guaranteed by public sector in Sweden (state & municipalities) Ou
Slide 49: Housing market: Signs of recovery
Housing market: Signs of recovery Housing prices (m/m) yO wo re Percentage change m/m (SA) oe Soo 2012 2014 2016 2018 2020 2022 2024 Sources: Macrobond, Valueguard Sweden AB and Handelsbanken Handelsbanken Housing prices (index, SA) 3254 3004 2754 2504 x B 2254 £ 2004 1754 150+ 1254 2012 2014 2016 2
Slide 50: Transaction activity at decent levels
Transaction activity at decent levels Number of sold single family houses, monthly 7000 1000 Blue field indicates high/low since 2010 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Handelsbanken Number of sold flats, monthly 14000 13000 12000 11000 10000 9000 8000 7000 6000 5000 4000 3000 Blue fiel
Slide 51: Elevated supply of unsold flats
Elevated supply of unsold flats ¥ = Number of flats for sale at Hemnet Number of flats for sale in Stockholm area 45000 +4000 92000 +1000 000 4 7000 000 oh ab Blue field indicates high/low since 2014 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 2015 2016 | 2017 | 2018 2019 2020 2021 2022 202
Slide 52: Norwegian cover pool
Current available pool size NOK 137bn (EUR 12bn) Interest index distribution Floating rate (<1 year fixing) 92% Assets utilized NOK 75bn (EUR 6bn) Fixed rate (>1 year fixing) 8% Asset types Loans secured by mortgages Outstanding issues of covered bonds Domestic benchmarks in NOK NOK 23bn (EUR 2bn) A
Slide 53: Signs of price pressure in Norwegian market
Signs of price pressure in Norwegian market Handelsbanken Housing prices 425 Oslo Lae] Norway {<358) 2012 2013 2014-2015 2016 «2017-2018 «2019-2020. 2021-2022» 2023 2024-2025 ‘Source: Macrobond 53
Slide 54: Transaction activity trending upwards — as well as supply
Transaction activity trending upwards — as well as supply Housing market: Units approved for sale (existing homes) 124 114 Number, thousand Seasonally adjusted 2005 Handelsbanken 2010 2015 2020 2025 ‘Source: Macrobond Housing market: Transactions 12 11 Number, thousand Seasonally adjusted 2005 2010
Slide 55: Strong asset pools even after severe stress
Strong assets pools even after severe stress Swedish pool Liabilities Usedassets Available assets WA max-LTV, (SEKbn) (SEKbn) (SEKbn) Actual 1,308 : i Property values -40% 657 723 1,096 65.0 110 Norwegian pool Liabilities Usedassets Available assets WA max-LTV (NOKbn) (NOKbn) (NOKbn) Actual Property
Slide 56: Sustainability
Sustainability Handelsbanken
Slide 57: Sustainability at Handelsbanken
Sustainability at Handelsbanken Creating and sharing knowledge resesreh education ane Juralim bout mance, ‘Advisory services ‘uracviony servees ge fur eutemars the foundations omacesuransble tana! Handelsbanken Handelsbanken has a holistic perspective on sustainability, where focus is the customer's
Slide 58: Green and sustainability linked loans
Green and sustainability linked loans Green lending: 24% growth rate 2025Q3 vs 2024Q3 SEK ma 140,000 120,000 100,000 80,000 60,000 40,000 20,000 i} DP PP PDD DD Mh o> Dr gd ad ad af af of PPK PPMP Mr MiMi M PM Me Mah PPS MPP OM OPP AMOS POM ES POMPE POMS Green Buildings Green Mortgages ™Clean transp
Slide 59: Green lending by category
Green 140,000 Mortgages • • Green Buildings 120,000 • Water and • 100,000 Waste Management • Renewable 80,000 Energy • Pollution 60,000 Prevention and Control Environmentally 40,000 sustainable management • Clean 20,000 Transports • Energy • 0 Efficiency •
Slide 60: Summary and highlights of the updated 2025 Framework
Summary and highlights of the updated 2025 Framework Key highlights ‘ - Handelsbanken Green Bond Framework No major updates compared to the previous Framework August 2025 * New Framework is aligned with ICMA’s Green Bond Principles (2025 edition) * Additional consideration has been given to the EU T
Slide 61: Contacts
Contacts Handelsbanken Andreas Skogelid Head Debt IR & Ratings Andreas.Skogelid@handelsbanken.se (+46) 70 326 722 Lars Kenneth Dahliqvist IR Officer Lars.Kenneth.Dahqvist@handelsbanken.se Peter Grabe Head of IR Peter.Grabe@handelsbanken.se Per Aronsson IR Officer Per.Aronsson@handelsbanken.se 61
Slide 62: Disclaimer
Disclaimer Handelsbanken * Certain statements made in this presentation are forward looking statements. Such statements are based on current expectations and are subject to anumber of risks and uncertainties that could cause actual results and performance to differ materially from any expected futur