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Amendment to Program Information Swedbank AB (Publ)

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Amendment to Program Information Swedbank AB (Publ) Amendment to Program Information Swedbank AB (publ) AMENDMENT TO PROGRAM INFORMATION Type of Information: Amendment to Program Information Date of Announcement: 5 February 2021 Issuer Name: Swedbank AB (publ) (the “Issuer”) Name and Title of Representative: Jens Eriksson, Acting Head of Group Treasury Ulf Jakobsson, Head of Funding and Risk Management Address of Head Office: 105 34 Stockholm, Sweden Telephone: +46-8-585-900-00 Contact Person: Attorneys-in-Fact: Motoyasu Fujita, Attorney-at-law Kosuke Miyashita, Attorney-at-law Shiori Sato, Attorney-at-law Gaikokuho Kyodo-Jigyo Horitsu Jimusho Linklaters Address: Meiji Yasuda Building 10F 1-1, Marunouchi 2-chome, Chiyoda-ku Tokyo 100-0005, Japan Telephone: +81-3-6212-1200 Type of Securities: Notes (the “Notes”) Address of Website for Announcement: https://www.jpx.co.jp/english/equities/products/tpbm/ann ouncement/index.html Name of the Main Dealer that is Expected to Subscribe Nomura International plc for the Notes to be Drawn-Down from this Program Status of Submission of Annual Securities Reports or No Issuer Filing Information: Information on Original Program Information: Date of Announcement 29 May 2020 Scheduled Issuance Period: 30 May 2020 to 29 May 2021 Maximum Outstanding Issuance Amount: U.S.$40,000,000,000 This amendment, consisting of this cover page and the Supplement dated 1 February 2021, is filed to update the information included in the Program Information dated 29 May 2020 (as amended by the Amendment to Program Information dated 18 August 2020 and 22 October 2020). This constitutes an integral part of the Program Information dated 29 May 2020, and shall be read together with it. Supplement dated 1 February, 2021 Swedbank AB (publ) U.S. $ 40,000,000,000 GLOBAL MEDIUM TERM NOTE PROGRAMME This base prospectus supplement dated 1 February 2021 (the “Supplement”) to the Base Prospectus dated 13 May 2020 and base prospectus supplements dated 17 July 2020 and 20 October 2020 (together, the “Base Prospectus”) constitutes a supplement for the purposes of Article 23 of Regulation (EU) 2017/1129 (the “Prospectus Regulation”), and is prepared in connection with the Global Medium Term Note Programme (the “Programme”) established by Swedbank AB (publ) (the “Issuer”). Terms defined in the Base Prospectus have the same meaning when used in this Supplement. This Supplement has been approved as a supplement by the Central Bank of Ireland as competent authority under the Prospectus Regulation. The Central Bank of Ireland only approves this Supplement as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the Issuer nor as an endorsement of the quality of the Notes that are the subject of this Supplement. Investors should make their own assessment as to the suitability of investing in the Notes. The purpose of this Supplement is to: incorporate by reference into the Base Prospectus the reviewed, unaudited year-end report of the Issuer for the twelve month period ended 31 December 2020 (the “Year- End Report”) and update the significant change/material adverse change statements in the Base Prospectus. This Supplement is supplemental to, and should be read in conjunction with, the Base Prospectus. The Issuer accepts responsibility for the information contained in this Supplement. To the best of the knowledge of the Issuer the information contained in this Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information. 1. Publication of Year-end Report for Swedbank AB (publ) On 1 February 2021 the Issuer published the Year-End Report. A copy of the Year-End Report has been filed with the Central Bank of Ireland and, by virtue of this Supplement, the Year-End Report is incorporated in, and forms part of, the Base Prospectus. The Year-End Report is available for viewing at https://www.swedbank.com/investor- relations/reports-and-presentations.html. 2. Significant change/material adverse change statements There has been no significant change in the financial performance of the Group or the financial position of the Group since 31 December 2020. Other than as disclosed in the Base Prospectus dated 13 May 2020, under the heading “Risk Factors – Risks Relating to the Group - The global coronavirus pandemic has led to significant volatility in financial, commodities and other markets and could harm the business and results of operations of the Group.” relating to the COVID-19 situation and “Swedbank – Legal Proceedings” regarding the SEK 4 billion fine, there has been no material adverse change in the prospects of the Issuer since 31 December 2019. 3. General To the extent that there is any inconsistency between (a) any statement in this Supplement or any statement incorporated by reference into the Base Prospectus by this Supplement and (b) any other statement in or incorporated by reference in the Base Prospectus, including the base prospectus supplements dated 17 July 2020 and 20 October 2020, the statements in (a) above will prevail. If documents which are incorporated by reference into this Supplement themselves incorporate any information or other documents therein, either expressly or implicitly, such information or other documents will not form part of this Supplement for the purposes of the Prospectus Regulation except where such information or other documents are specifically incorporated by reference to the Supplement. Copies of the Base Prospectus, this Supplement and all documents which are incorporated by reference in the Base Prospectus are available for viewing at https://swedbank.com/investor- relations/debt-investors.html and on the website of Euronext Dublin at http://www.ise.ie. Save as disclosed in this Supplement, there has been no other significant new factor, material mistake or material inaccuracy relating to information included in the Base Prospectus, including the base prospectus supplements dated 17 July 2020 and 20 October 2020, since the publication of the Base Prospectus. Q4 2020 Year-end report 2020, 1 February 2021 Interim report for the fourth quarter 2020 “A stable Fourth quarter 2020 compared with third quarter 2020 quarter in Stable underlying net interest income difficult times” Improved asset management result positively affected net Jens Henriksson, commission income President and CEO Expenses for the full year according to plan Low credit impairments and strong capitalisation Dividend of SEK 4.35 per share proposed for 2019 and SEK 2.90 per share for 2020 Financial information Q4 Q3 Full-year Full-year SEKm 2020 2020% 2020 2019% Total income 11 764 11 604 1 45 676 45 960 -1 Net interest income 6 567 6 714 -2 26 853 25 989 3 Net commission income 3 376 3 246 4 12 770 12 984 -2 Net gains and losses on financial items 910 669 36 2 655 3 629 -27 Other income1) 911 975 -7 3 398 3 358 1 Total expenses 5 586 4 761 17 24 560 19 984 23 of which adminstrative fine 0 0 4 000 0 Profit before impairment 6 178 6 843 -10 21 116 25 976 -19 Impairment of intangible and tangible assets 1 1 0 2 87 -98 Credit impairment 523 425 23 4 334 1 469 Tax expense 1 144 1 155 -1 3 851 4 711 -18 Profit for the period attributable to the shareholders of Swedbank AB 4 510 5 261 -14 12 929 19 697 -34 Earnings per share, SEK, after dilution 4.01 4.68 11.51 17.56 Return on equity, % 11.8 14.3 8.9 14.7 Return on equity excl. administrative fine, % 11.8 14.3 11.4 14.7 C/I ratio 0.47 0.41 0.54 0.43 C/I ratio excl. administrative fine 0.47 0.41 0.45 0.43 Common Equity Tier 1 capital ratio, % 17.5 16.8 17.5 17.0 Credit impairment ratio, % 0.12 0.10 0.26 0.09 1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures and Other income from the Group income statement. Swedbank – Year-end report 2020 1 CEO Comment Anti-money laundering measures A stable quarter in difficult times During the year, we worked intensely to remedy our Global economic development was again shortcomings in internal governance and control in order overshadowed by the pandemic which worsened in the to manage the risks associated with money laundering, fourth quarter. Stricter restrictions in our home markets terrorist financing and sanctions. An expansive affected both companies and individuals. Now that investment plan is underway where we more than vaccinations have begun, we can see the light at the doubled the number of employees who directly work in end of the tunnel. It could take time, however, before the this area during the year. During 2021 we will be nearly effects of the pandemic become manifest. Government 1 500 employees exclusively working to combat support for companies and individuals is critical to future financial crime. economic development. We are continually taking new steps to rectify the Advice and transition historical shortcomings. On 19 November, Swedbank’s We continued to support our customers during the Estonian subsidiary submitted a final report to the second wave of the pandemic. Covid-19 is following a Estonia FSA describing how the shortcomings were different pattern than other crises, including as regards addressed. bankruptcies, as new research from the IMF shows. Monetary and fiscal support has helped many Swedbank shall be at the forefront of the fight against companies to withstand and the need for amortisation financial crime. Especially important is to have a exemptions among corporate customers has levelled thorough understanding of our risk exposure and off. However, the corporate market is still characterised customers, and to work relentlessly to detect and by low demand for bank loans, increased competition prevent illicit transactions.
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