1

Annika FalkengrenCEO

GoldmanSachs

BerlinJune 12

2008

1

2

SEB's markets in Northern Europe

2

GDP, growth per year, %

0

2

4

6

8

10

12

2006 2007 2008 (f) 2009 (f)

Average, Baltic countriesAverage, Nordic countriesEuro Zone

3

10%15%

37%38%

RetailBanking

WealthManagement

Life

Merchant Banking

58%

20%

4%

18%

Sweden

Nordics

Germany

Baltic countries

This is SEB today Share of operating profit Q1 2008

4

SEB's franchiseMerchant Banking● #1 Nordic stock broker● #1 Nordic and Baltic investment bank● #1 Nordic and Baltic cash manager● #1 Custody Nordic and Baltic markets● #1 Scandinavian currenciesWealth Management● #1 Nordic and Baltic private bank● #2 Nordic asset managerLife and pension● #1 Nordic unit-linked businessRetail● #2 Baltic region

4

5

2007 2008 2010 2009 2006

Co-ordinateuniversal offering

Expand and accelerate

growth in areas of strength

5 million private individuals

2,500 large corporates& institutions 400,000 SME’s

Merchant Retail Wealth Life

Group IT Group Operations

Group Staff

Norway

Sweden

Finland

Estonia

Latvia

Lithuania

Ukraine

Denmark

Germany

PolandRussia

1 32

OK

OK

12

3

45

From To

Focus

Streamlining and integration

Productivity

Proactivity

Sustainableprofit growth

Installing operational excellence

Focused growth in areas of strength

Our strategy – The Road to Excellence

6

2007 – 2009:Commitment

SEK 1.5 – 2bn

Resilience from operational leverage

Realised since startSEK 625m

Cost-management program SEB Way

Status Q1 2008Both front- and back-end processes30 % of all employeesMore than 800 FTEs freed up

7

8.9

7.2

7.0

6.8

6.5

6.4

Core capital ratioBasel II including transitional rules, %

Net liquidity position across maturities31 March, SEKbn

Strong balance sheet

0

100

200

300

1 week

2 weeks

4 weeks

2 months

3 months

4 months

5 months

6 months

9 months

12 months

SEB is match-funded approx.

one year

*

* Danske has during 2008 started to report the full Basel II effect

(2007)

8

Capturing structural growth trendsCapital markets

Demography

Emerging markets

Exploiting being the #1 Nordic Merchant Bank

SEB is:

Expanding the asset manage-ment and life insurance franchise

Trading, investment banking, new asset classes

Creating demand for:

Asset management, pension products

Local financial services, int’l support for our clients

Continued growth in Eastern Europe

9

3.22.71.9 2.1 2.4

2003 2004 2005 2006 2007

Global Transaction Services

Leverage being the #1 Nordic Merchant Bank

2008 2007

1 1 Citi

2 2 Deutsche Bank

3 4 HSBC

11 10 BNP Paribas

12 12 SEB

13 13 Mitsubishi UFJ Fin Grp

Corporate foreign exchangeInternational rankingCustody, Cash management etc

Income, SEKbn

Assets under Custody

0

200

400

600

2002 2007

Nordea SEBEUR bn

10

37

43

28

17

22

0% 20% 40% 60% 80% 100%

Lithuania

Latvia

Estonia

Denmark

Sweden*

SEB Market share Competitors

1221

SEBRank

Strong market position in all marketsMarket shares, gross premium income, unit-linked insurance (%, 2007)

2

* unit-linked (Sweden new sales)

Net inflows in the Swedish mutual fundsCumulative FY 2007 and Q1 2008, SEKbn

15.2

-13.6 -8.6

-18.5

Robur SHB Nordea SEB

Demographics supporting long-term savings

10

11

0

1,000

2,000

3,000

4,000

2005 2006 2007

LithuaniaLatviaEstonia

1,428

2,320+62%

+34%3,114*

250,000 new customers during 2007

11

Go East: A continued growth caseOperating result country level; SEK millions

* Adjusted for sale of Baltic real estate

12

Managing a downturn in the Baltic countries

Jan 06 Jul 06 Dec 06 2007● Tightening of

credit policy incl. cautious property mgmt

● ROE priority > volume growth

● Further tightening of credit policy

● Raised attention to currency risks

● Collective provisioning policy

● Concluding internal review of Baltic economies

● Increased capitalisation

● Overheating risks communicated

Phase I - Actions to manage overheating

0%2%4%6%8%

10%12%

2006 2007 2008

Credit growth per quarter

12

13

Phase II - Actions to manage correction

Managing a downturn in the Baltic countries

Targeted credit portfolio reviewsJoint local and head-office work-out teamEarly conservative provisioning

Individual country approachFull integration in SEB Group to broaden product paletteDevelop relationships with existing and new customers

Asset quality

Business development

13

14

SEB in Germany

Retail Banking

Merchant Banking

Asset Management

Commercial Real Estate

14

15

Customer satisfaction: No 1 in chosenmarkets

Sustainable profit growth

Highest Return on Equity

AA-rating

Long-term objectives

1616

1717