UBS Nordic Financial Services Conference Stockholm. 10 September 2009.

1. Annika Falkengren
President and CEO
UBS Nordic
Financial
Services
Conference
Stockholm
10 September
2009
1

2. The starting point: SEB has a strong competitive position
A long-term relationship bank
How we got here: SEB’s strategy 2006
Multi-disciplined focused strategic direction to stay ahead of the curve
Where we are going: thoughts in post-crisis financial landscape
While regulatory clouds remain, structural long-term trends are still valid
2

3. SEB – A relationship bank
Strong customer base Product excellence
Large #1 Cash management globally
companies #1 Scandinavian currencies
globally
1,800
#1Nordic stock broker
Financial #1Nordic and Baltic investment
institutions bank
#1 Custody Nordics and Baltics
700
#2 Nordic asset management
SMEs #1 SME offering Sweden
400,000
Private
individuals
5 million
3

4. Resilient income generation
12-month rolling earnings generation excluding one-off effects
SEK bn
50 Operating income
40
30 Profit before credit losses
and goodwill
20
10
Operating profit
0
Q1 - Q2 Q3 Q4 Q1- Q2 Q3 Q4 Q1 - Q2 Q3 Q4 Q1 - Q2 Q3 Q4 Q1 - Q2
05 06 07 08 09
Diversified income generation
SEK m
Net interest income Non-interest income *
8,000
7,000
6,000
+21%*
5,000
4,000
H1 2009
3,000 vs. H1 2008
2,000
1,000
0
Q1Q2Q3Q4 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 Q1Q2
-05 -06 -07 -08 -09
*Income adjusted for capital gains
4

5. Long-term financial stability
Liquidity profile 12 months
matched funding
Tier 1 capital
Strong capital position
ratio 13.1%
Reserve ratio 72%
5

6. Proactive management in CEE
Non performing loans
Actions
% of lending Portfolio assessed, past due > 60 days
Gradual tightening of credit and Individually assessed
30%
portfolio policies requirements
since Q4 2005 20%
10%
Accelerated collective 0%
provisions Estonia
Lending 45
Latvia
39
Lithuania
75
Ukraine
2
(SEK bn)
Substantial work-out resources Provisioning to build-up Baltic reserves
SEK m Specific Collective
Review of all loans >€1m 2,000
completed 1,500
65% collective
provisions
Separate division 1,000
500
Full goodwill write-off
0
Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09
6

7. Stable asset quality outside CEE
Distribution of credit provisions Level of Impaired Loans
Distribution of SEK 5,953m within SEB Group
2.0%
Outside 1.5% Germany
CEE CEE 1.0% NPL
22% 0.5% 0.6% Nordics
78%
0.0%
Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun
'06 '07 '08 '09
% of total exposure
3%* 3%*
Shipping Limited exposure to Bulk and SMEs Bankruptcies increasing
& Offshore Container sub-segments Sweden (from a low base)
1%* 7%*
Acq. Well diversified with 95% Commercial Mainly related to large real
Finance senior debt Real Estate* estate companies
* Excluding Baltic exposures
7

8. The starting point: SEB has a strong competitive position
A long-term relationship bank
How we got here: SEB’s strategy 2006
Multi-disciplined focused strategic direction to stay ahead of the curve
Where we are going: thoughts in post-crisis financial landscape
While regulatory clouds remain, structural long-term trends are still valid
8

9. ed
in itiat
tegy arkets
B stra tal M ber
SE Capi ecem
at in D
D ay 2006
Strategic direction – exploit strong franchise in an attractive region
Improve customer focus
Integrate acquired businesses
Roll-out operational excellence
Strengthen the balance sheet for worse times
9

10. A strong large corporate franchise
Nordic target market Strong growth in core markets
100 Income Nordic “top 50”
Core (public companies)
banking
relation-
ships +79%
%
Large
corporates
Nordics
+33%
Large
corporates
Sweden
0
-100
Perceived 0
quality* 100 H1 08 H1 09
2006 2008 2009 Sweden Other Nordic
* Relative to peer group
10

11. Customer growth strategy cont.
Grow revenues with existing customers through high interaction and
increased share of wallet
Private Banking – Net sales Life – Total sales
SEK bn SEK bn
6 16
12
4
8
2 4
0 0
Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q1 Q3 Q1 Q3 Q1 Q3 Q1
2006 2007 2008 2009 2006 2007 2008 2009
No of corporate customers Number of cards – SEB Kort
Thousands Millions
150 3.4
145
140 3.2
135
130 3.0
125 2.8
120
115 2.6
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2007 2008 2009 2007 2008 2009
11

12. Efficiency and productivity
Exploiting cost synergies from increased integration while developing continuous
productivity enhancements through SEB Way
FTE development Group Operations
SEB Group, Thousands 21,6 No. of transaction, SEK millions Cost/transaction
-6% y-o-y
20,4 12
19,3 10
8
6
CEE 4
2
Non-CEE 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Dec 06 Jun 08 Jun 09 07 08 09
Efficiency and productivity gains offset inflation on a comparable basis
Total cost base reported
Excluding pensions, redundancies, CEE goodwill impairment and FX effect
30
28 Rolling 12 m
costs in Q2
26 2009
24 up SEK 0.3bn
22 or 6% vs. FY
2006
20
Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09
12

13. Financial strategy
Establish and maintain a strong capital and liquidity position
Core capital Long-term funding (>1 year)
SEKbn SEKbn
103.2
Hybrid 13.9 117.3
capital
45.9
60.7 74.7
"Book
7.5
equity "
+36.2 89.3
48.7 41.8 47.3
53.1 71.4 17.5
40.2
31.2 32.9
7.1
Dec 2006 Core Jun 2009 H1 08 H2 08 H1 09 Q3 09
8.2% capital 11.3%
ratio >12 months matched funding
13

14. The starting point: SEB has a strong competitive position
A long-term relationship bank
How we got here: SEB’s strategy 2006
Multi-disciplined focused strategic direction to stay ahead of the curve
Where we are going: thoughts in post-crisis financial landscape
While regulatory clouds remain, structural long-term trends are still valid
14

15. The big unknown: A new financial landscape
– Still limited visibility and no level playing field
Capital requirements?
Liquidity regimes?
Regulatory environment?
Government ownership?
15

16. Capturing structural growth trends
Wholesale banking
SEB is:
Creating demand for:
Exploiting being
Advisory services,
the #1 Nordic
investment banking,
new asset classes Merchant Bank
Demographics
Expanding the
asset manage-
Asset management,
ment and life
pension products
insurance
franchise
Emerging markets
Renewed long-
Local financial term growth in
services, int’l support
the Baltic
for our clients
region
16

17. Wholesale banking going forward
Restricted capital leads banks to a more selective choice of relationships
+ =
Business Credits– tight Bank relationship –
– selected clients conditions a closer tie
17

18. Rightly positioned to leverage
recovery of savings markets
Mutual Funds Net Sales Sweden Assets under Management
Cumulative Jan 2005 – Jun 2009, including PPM June 30, 2009, SEK bn
SEK m 1 478
Nordea
70 000
60 000 SEB
SEB 1 267
50 000 SHB
40 000 Robur Sw edbank 743
30 000
Nordea
20 000
Danske Bank 617
10 000
0
-10 000 DnB NOR 595
-20 000
-30 000 Handelsbanken 224
Source: Morgan Stanley
jan-05 jan-06 jan-07 Jan-08 jan-09
SEB Market share Competitors
Market shares SEB Rank
Gross premium
Sweden* 26 1
income, unit-linked Denmark** 9 2
insurance
%, Q1 2009 Estonia 14 3
Latvia 14 3
* Q2 2009
** Full year 2008
Lithuania 28 1
18

19. Long-term potential in the Baltics remains
31 Dec 2008
Economic sentiment may have turned
Index
Estonia Latvia Lithuania Euro-zone
140
120
100
80
101
60
GDP/Capita 40
SEK thousand 343 20
0
Oct-95 Oct-97 Oct-99 Oct-01 Oct-03 Oct-05 Oct-07 Oct-09
Current account deficts have been restored
82
Lending/GDP Percent of GDP
Estonia Lithuania Latvia
Per cent 5
136 0
-5
-10
-15
-20
-25
Baltics -30
Sweden Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar-
01 02 03 04 05 06 07 08 09
19

20. The tipping point is getting closer?
Strong capitalisation Baltic credit losses
Tier 1 capital ratio (Q2 2009, %)
13,1 12,6 12,2
11,2
9,6
11,3
Swed- SEB SHB Danske Nordea DnB
bank Bank NOR
Opportunities in core markets Nordics late into the cycle?
Economic cycle
2005 2007 2009 2011
20

21. 21

22. 22