1. Annika Falkengren
CEO
Goldman
Sachs
Berlin
June 12
2008
1

2. SEB's markets in
Northern Europe
GDP, growth per year, %
Average, Baltic countries
Average, Nordic countries
Euro Zone
12
10
8
6
4
2
0
2006 2007 2008 (f) 2009 (f)
2

3. This is SEB today
Share of operating profit Q1 2008
Wealth
Management Baltic
Life
countries Nordics
15% 20%
10%
18%
Germany
4%
37%
38%
58%
Retail Merchant
Banking Banking Sweden
3

4. SEB's franchise
Merchant 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 currencies
Wealth Management
● #1 Nordic and Baltic private bank
● #2 Nordic asset manager
Life and pension
● #1 Nordic unit-linked business
Retail
● #2 Baltic region
4

5. Our strategy – The Road to Excellence
Expand and
Co-ordinate accelerate
universal offering growth in areas
Focus
of strength
Sustainable
profit growth
Focused growth in
areas of strength
Installing operational
2,500 large corporates 5 million private
400,000 SME’s
& institutions individuals
excellence
Streamlining
Merchant Retail Wealth Life
Group
Group IT Operations
and integration
Group Staff
Norway Finland Germany Latvia Ukraine
Russia
Estonia
Sweden Denmark Poland Lithuania
From To
1 1 2 3
Productivity
2
3 OK
4
5 OK
2006 2007 2008 2009 2010
Proactivity
5

6. Resilience from operational leverage
Cost-management program SEB Way
Status Q1 2008
Both front- and back-end processes
2007 – 2009:
30 % of all employees
Commitment More than 800 FTEs freed up
SEK 1.5 – 2bn
Realised since start
SEK 625m
6

7. Strong balance sheet
Core capital ratio Net liquidity position across maturities
Basel II including transitional rules, % 31 March, SEKbn
300
8.9
SEB is match-
funded approx.
7.2 one year
200
7.0
100
6.8
6.5
0
1 week
2 weeks
4 weeks
2 months
3 months
4 months
5 months
6 months
9 months
12 months
*
6.4
(2007)
* Danske has during 2008 started to report the full Basel II effect
7

8. Capturing structural growth trends
SEB is:
Capital markets Creating demand for:
Exploiting
Trading, investment
being the #1
banking, new asset
Nordic
classes
Merchant Bank
Demography
Expanding the
asset manage-
Asset management,
ment and life
pension products
insurance
franchise
Emerging markets
Continued
Local financial growth in
services, int’l support
Eastern
for our clients
Europe
8

9. Leverage being the #1 Nordic
Merchant Bank
Global Transaction Services Corporate foreign exchange
Custody, Cash management etc International ranking
3.2
Income, SEKbn 2008 2007
2.7
2.4
2.1
1.9
1 1 Citi
2 2 Deutsche Bank
3 4 HSBC
2003 2004 2005 2006 2007
Assets under Custody
11 10 BNP Paribas
EUR bn
12 12 SEB
Nordea SEB
600
13 13 Mitsubishi UFJ Fin
400
Grp
200
0
2002 2007
9

10. Demographics supporting
long-term savings
Strong market position in all markets
Market shares, gross premium income, unit-linked insurance
SEB
(%, 2007)
Rank
SEB Market share Competitors
1
Sweden* 22
2
Denmark 17
Estonia 2
28
Latvia 1
43
Lithuania 37 2
0% 20% 40% 60% 80% 100%
* unit-linked (Sweden new sales)
Net inflows in the Swedish mutual funds
Cumulative FY 2007 and Q1 2008, SEKbn
15.2
-8.6
-13.6
-18.5
Robur SHB Nordea SEB
10

11. Go East: A continued growth case
Operating result country level; SEK millions
4,000
Lithuania
Latvia
3,114*
Estonia
3,000 +34%
2,320
+62%
2,000
1,428
250,000 new
1,000
customers
during 2007
0
2005 2006 2007
* Adjusted for sale of Baltic real estate
11

12. Managing a downturn in
the Baltic countries
Phase I - Actions to manage overheating
Jan 06 Jul 06 Dec 06 2007
● Concluding ● Further tightening
● Tightening of ● Overheating
internal review of credit policy
credit policy risks
of Baltic incl. cautious communicated ● Raised attention to
economies property mgmt currency risks
● Increased ● ROE priority > ● Collective
capitalisation volume growth provisioning policy
Credit growth per quarter
12%
10%
8%
6%
4%
2%
0%
2006 2007 2008
12

13. Managing a downturn in
the Baltic countries
Phase II - Actions to manage correction
Asset quality
Targeted credit portfolio reviews
Joint local and head-office work-out
team
Early conservative provisioning
Business development
Individual country approach
Full integration in SEB Group to
broaden product palette
Develop relationships with existing
and new customers
13

14. SEB in Germany
Retail Merchant
Banking Banking
Asset Commercial
Management Real Estate
14

15. Long-term objectives
Sustainable profit
Customer
growth
satisfaction:
No 1 in chosen
markets
AA-rating
Highest Return
on Equity
15

16. 16

17. 17