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Banking Nordic, Member of the Executive Leadership Team

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Banking Nordic, Member of the Executive Leadership Team Danske Bank Glenn Söderholm, Head of Banking Nordic, Member of the Executive Leadership Team UBS Nordic Financial Services conference, Grand Hôtel, Stockholm 5 September 2019 We are changing our organisation to increase execution power, improve focus and to better serve our customers CEO Chris Vogelzang Banking DK Banking Nordic Corporates & Wealth Group Group Risk COO area CFO area Institutions Management Compliance Management Jacob Aarup- Glenn Söderholm Jakob Groot Berit Behring Philippe Vollot Carsten (vacant) Stephan Engels Andersen Rasch Egeriis Glenn Säderholm Chris Vogelzang interim Jacob Aarup-Andersen interim, expected until until replacement is interim, expected until 1 April 2020 appointed 1 April 2020 The new Executive Leadership Team is currently working on our full management agenda for the next 12-18 months and will come back before the end of the year with an update 2 Executive summary: Difficult first half; net profit down 24% from H1 2018 and 2019 net profit outlook lowered to DKK 13-15 bn. Capital remains solid. Loan growth of 3% y/y, driven by growth of 6% y/y at Banking Nordic and 1% y/y at Banking DK, however, growth H1 2018 H1 2019 is at lower margins Trading income significantly lower due to challenging market conditions, which are expected to persist in the second half of the year 16.6% 15.9% Expenses up 12% y/y due mainly to upstaffing and investments in compliance and AML-related activities, as 11.9% well as the compensation related to the Flexinvest Fri matter 9.2 9.0% 7.0 Management to come back later this year with an update on initiatives to improve longer-term performance Net profit (DKK bn) ROE (%) CET1 ratio (%) 3 Increase in costs – driven largely by upstaffing and accelerated investments in AML activities Key points Expenses for compliance-related activities (DKK bn) 2.5-2.9 • Including the costs for handling the money-laundering case in Estonia, compliance-related costs have increased significantly since 2017 • The total cost of all compliance-related activities, including the Estonia case, is expected to amount to around DKK 2.5-2.9 bn 1.8 1.8-2.1 in 2019 • More than 1,900 FTEs now work with AML activities across the organization 1.0 1.4 • While costs for AML have significantly increased, costs for other regulatory agendas such as GDPR, MiFID II etc. have 0.3 1.0 decreased in 2019 so far 0.3 0.4-0.5 0.0 2017 2018 2019E Estonia case AML programme, other compliance and regulation AML digitalisation 4 Strong lending growth at Banking Nordic Key points Banking Nordic: lending volume by segment and country* Banking Nordic Finland retail Sweden commercial • Solid growth of 6% y/y Finland commercial Norway retail • Union partnerships drive retail growth Sweden retail Norway commercial primarily in Norway and Sweden • Retail Norway saw lending growth of 5% 115 q/q following continued inflow from TEKNA (union for engineers) 110 • Commercial Finland grew 3% q/q while Retail Finland was stable 105 100 95 Q118 Q218 Q318 Q418 Q119 Q219 * Based on local currency lending volumes. 5 Impairments: Strong credit quality. Loan loss ratio of 5 bp in core activities in H1, single- name exposures at C&I drive impairments Key points Impairment charges by business unit, H1 2019 (DKK m) Y/Y • Charge of DKK 470 m; core loan loss ratio of 5 bp Banking DK +53 − Impairments at C&I due to single-name exposures in oil and retail − Lower reversals on non-performing loans at Banking DK but also charges against agriculture exposure and model adjustments for Banking Nordic -82 retail customers Q/Q Corporates & • Charge of DKK 113 m; core loan loss ratio of 2 bp +520 − Impairments at C&I due to single-name volatility Institutions Wealth -30 Impairment charges, core (DKK m and bp) 8bp Management 5bp Northern 2bp 357 2bp +14 264 Ireland 0bp 100 113 22 -43 -160 -166 -235 -231 -241 -1bp Other -330 -5 -3bp -3bp -377 Activities -5bp -5bp -5bp -7bp Total impairments, -8bp +470 core Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Non-core +369 2016 2017 2018 2019 6 It’s all about our customers 7 Fixing the basics Key Journeys Digital platforms WELCOMING FINANCING DISTRICT HOUSING DAILY BANKING MOBILE BANK 3.0 8 Make partnership a growth lever 9 10 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, or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Danske Bank believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of various factors many of which are beyond Danske Bank’s control. This presentation does not imply that Danske Bank has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided. 11.
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