1) The document provides an overview of SEB's strategic priorities and financial performance from 2006-2007. SEB aims for top customer satisfaction, leading return on equity, and sustainable profitable growth. 2) SEB achieved strong profit growth through cost management initiatives and operational excellence programs that increased productivity. Profit increased in all divisions except Merchant Banking. 3) Looking forward, SEB will continue focusing on operational excellence, integration, and investments in core areas to maintain leading performance and customer satisfaction in Northern Europe.

1. Per-Arne Blomquist
CFO
Carnegie
Large Cap
Seminar
5 March 2008
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2. Content
Road to Excellence
Baltic countries
Financial targets
Cost management
Capital and liquidity
2

3. Highest
Highest
customer
RoE
satisfaction
3

4. Road to excellence – strategic priorities
Sustainable
profit growth Installing operational Focused growth in
excellence areas of strength
Phase II
Phase I
Operational
excellence
2007 2009
2006 2008 2010
Operational excellence priorities Sustainable growth priorities
Strategic Priorities
● Productivity ● Deepen customer relationships
● Quality ● Invest in areas of strengths
● Streamlining ● Entrepreneurial spirit
● Mindset and culture ● Complementary acquisitions
4

5. A multiple and balanced business mix
Operating profit split Jan – Dec 2007
Divisions Geography
Life Other
Wealth Lithuania Norway 20%
20%
8% 5% 8%
10%
Latvia 6% Denmark
8%
Estonia 5%
15% Finland
4%
37%
6%
MB Germany
38%
50%
Retail
Sweden
Note: Adjusted for negative profit of Other Note: Adjusted for sale of SEB´s Baltic real estate
5

6. Baltics – three different markets
Credit exposure growth, Baltic countries Total Baltic public lending SEK 137bn
(12.8% of Group)
%
Jan – Dec 2007 Jan – Dec 2006
30
SEB in
Lithuania Estonia
Lithuania
47
31%
43%
18
SEB in Latvia
40
26%
19
SEB in
Latvia
Estonia
39
6

7. Development of lending market SEB
Swedbank
shares – Baltics DnB Nord
Parex Banka
Per cent, Dec 2004 – Dec 2007* Sampo
Nordea
Estonia* Lithuania
Latvia
50% 50%
50%
40% 40%
40%
30%
30% 30%
20% 20%
20%
10% 10%
10%
0% 0%
0%
*) Estonia; Swedbank & Sampo – Aug 2007, SEB -Dec 2007
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8. Increased resilience from a growing business
Total operating income
2000 2007
SEK 42.1bn**
Income SEK 33.2bn*
Retail &
Corp.
banking
Trading excl. 3%
FX & equities
14%
11%
Equities & 67%
Corp. fin
7%
Life
12%
Wealth
Operating profit SEK 8.8bn Operating profit SEK 17.0bn
** Note: Adjusted for MTM portfolio loss of SEK
* Note: Adjusted for one-off gains of SEK 2.3bn
1.8bn and one-off gain of SEK 0.1bn
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9. Financial targets
Profit Growth Leading RoE
Return on equity
Operating profit RoE
SEB Group, per cent
SEKbn %
17,0
15,6
20,8
19,3
11,2
15,8
2005 2006 2007
2005 2006 2007
9

10. Targets
Customer satisfaction
● #1 in our chosen markets
Financial performance
● Leading in terms of RoE
● Sustainable profitable growth
Capital policy
● Core capital ratio >7%
● Dividend pay-out ratio 40%
over a business cycle
● AA rating ambition
10

11. …how to get there!
11

12. Customer satisfaction
● #2 customer ● Nordic brokerage,
satisfaction globally in equity research and
cash management corporate finance
● Best cash ● Institutional asset
management in Nordic management
and Baltic countries
● Best bank in Latvia
SEB: Global FX
forecasts top ranked
Diners Club and
Eurocard – Best Nordic
customer service
Number one in Trade
Finance in Nordic
countries, Sweden
Bank of the year in
and Lithuania
Estonia och Lithuania
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13. Promote activity – prioritised areas
Product innovation
Example: SEB Asset Selection
Cash management excellence
Poll of 4,500 treasurers globally
(11 of 24 categories)
Customer acqusition
Example: Swedish cash management Volume growth
customers in the SME segment (thousands)
Example: SEB Group RWA (SEKbn)
90
1,000
80 900
800
70
700
60
600
50 500
2005 2006 2007 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2005 2006 2007
13

14. Repositioning of SEB’s Swedish Retail
14

15. A holistic cost control approach
Explore Merchant
synergies and Banking
scale potential Retail Banking
Customer
interface Wealth
Management
Life
Group
Group-wide Identified
Staff,
Support cost
Group IT,
prioritisations functions Group reduction
Business by 2009
Support
15

16. Group Staff
Major change in support staff location, FTE’s
Δ
>10%
Group 15%
Group 10%
support
20%
55%*
Divisional & 75%
Business
areas
25%
2006 2007
* Including Germany, Estonia, Latvia, Lithuania and Luxembourg,
to be moved formally from Divisions Jan 1, 2008
16

17. Cost-management program
2007 – 2009, SEKm
Jan – Dec 2007 vs. Jan – Dec 2006
22,537
Costs Jan – Dec 2006
2007 planned
efficiency gains:
505
Inflation/Other
-500
Efficiency gains -546
New cost base 22,496
486
Growth
Redundancy cost * 212
23,194
Costs Jan – Dec 2007
Total savings 2007 – 2009: SEK 1.5-2.0bn
* Redundancy cost for 2007: 281
2006: 70
17

18. Improved operational excellence
SEB Way – Front & back office;
freed up time equals 690 FTEs
MB: Equity-linked notes
No of transactions +30 %
30 persons
Productivity +34 %
Time-to-market cut 2 weeks
RB Sweden: District
129 persons
No of transactions +30 %
No of FTE’s freed-up 21%
Productivity +34 %
Redirect from admin to sales
RB Lithuania: SME credit process
195 persons
Fewer FTE’s and cut lead time
Group Operations Δ 2007
No of transactions +30 %
No of transactions +30 %
Productivity +34 %
Productivity +34 %
No of FTEs +0.2 %
No of FTEs +0.2 %
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19. Road to excellence – Improved operating
leverage SEB Group*, SEKm 12 month rolling
Income Expenses Operating profit
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Q1-05 Q2-05 Q3-05 Q4-05 Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07
* Excluding restructuring costs and one-off charges of SEK 890m in Q4 2005
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20. SEB – divisional growth
Distribution of SEB’s profit growth*
Operating profit full-year - 2005 vs. 2007, SEKbn and the 2-year profit growth by division
Merchant Retail Wealth Life
+3,2
+3,0
+0,8
5.0 6.6
8.2 3.6 +0,8
2.6
1.8 1.8
1.0
2005 2007 2005 2007 2005 2007 2005 2007
* Adjusted for negative effect in Other and eliminations SEK -0.3bn and with SEK1.8bn for MTM losses in 2007
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21. Outlook
● Transparency renews trust?
● Continued financial turbulence?
● Resilience among consumers?
● Slowdown in real economy?
● Alignment of risk and pricing?
● Falling capital expenditure?
● Acquisition opportunities?
● Hard landing in Baltic countries?
SEB
Business Region Franchise Competence Capital
mix
21

22. A strong capital base
Core capital, +20%
SEKbn
72,7
The strategic value
10.9
60,7 Support organic growth
+3.4
Hybrid 7.5 Enable acquisitions
capital
Create financial flexibility
Adjusted
+8.7
53.1 61.8
equity
capital
Key driver:
Profit Growth
Dec 2006 Dec 2007
Core capital
8.2% 8.6%
ratio
22

23. Funding structure
SEB Group, December 2007
SEK 1,617bn
CPs/
Mortgage covered
CDs
bonds, Sweden
Deposits
12% Mortgage covered
– General public 8%
bonds, Germany
2%
44% Public covered
6%
bonds, Sweden
3%
3%
Senior debt
22%
Subordinated debt
Deposits – Financial
institutions
● Over collateral within the Swedish covered pool 66% (SEK 89bn) as of December 2007
● Free eligible asset pledgeable within central banks SEK 198bn after 5 % haircut
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24. Strategy – more of the same!
Operational Excellence
(Productivity and quality)
Increased integration
Continued investments in
core areas of strength
Top customer satisfaction and profitable growth
The leading bank in Northern Europe
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25. 25

26. Key figures
Change Change
Jan – Dec Jan – Dec Q4 Q4
SEKm 2007 2006 2007 2006
Operating income 40,440 4% 10,035 0%
Operating expenses -23,194 3% -5,928 4%
Operating profit 17,018 9% 4,581 11%
Net profit 13,642 8% 3,757 -1%
Return on Equity, % 19.3 20.8 20.2 23.2
Cost / income ratio 0.57 0.58 0.59 0.57
Credit loss level, % 0.11 0.08 0.14 0.10
RWA, Basel I, SEKbn 892 +151
Core capital, SEKbn 73 +12
Core capital ratio, Basel II 8.63 8.19
Dividend per share, SEK 6.50 6.00
26

27. Profit and loss account
Jan – Dec 2007 vs. Jan – Dec 2006
SEB Group, SEKm Jan – Dec Jan – Dec Change
2007 2006 %
Net interest income 15,998 14,281 12
Net fee and commissions 17,051 16,146 6
Net financial income 3,239 4,036 -20
Net life insurance income 2,933 2,661 10
Net other income 1,219 1,623 -25
Total operating income 40,440 38,747 4
Staff costs -14,921 -14,363 4
Other expenses -6,919 -6,887 0
Depreciation of assets -1,354 -1,287 5
Total operating expenses -23,194 -22,537 3
Gain/loss tangible/intangible assets 788 70
Net credit losses etc -1,016 -718 42
Operating profit 17,018 15,562 9
Net profit 13,642 12,623 8
27

28. Operating profit per division
Jan – Dec 2007 vs. Jan – Dec 2006 ROE
Growth
SEKm vs. Jan – Dec 2006 Jan – Dec 2007
Merchant
-13% 17.6%
Banking
GTS +33%
TCM -40%
Corp.Banking +4%
+26% 20.8%
Retail Banking
Sweden +13%
Estonia +8%
+12% 34.5%
Wealth Latvia +44%
Lithuania +63%
Management
Germany +616%
Cards -2%
+19% 21.1%
Life
Jan-Dec 2007
Jan-Dec 2006 0 2,000 4,000 6,000 8,000
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29. Business activity
Deposits from the public Lending to the public
SEKbn SEKbn
800 1 200
+17% +12%
1 000
700
800
600
600
500
400
400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2005 2006 2007
2005 2006 2007
AuM incl Life Turnover cards
SEKbn
SEKbn
+9%
1 600 70
+9%
1 400
1 200 60
1 000
800 50
600
40
400
200
30
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2005 2006 2007
05 05 05 05 06 06 06 06 07 07 07 07
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30. Contact information, Investor Relations
Ulf Grunnesjö, Head
e-mail: ulf.grunnesjo@seb.se
Telephone: +46 8 763 85 01
Laurence Westerlund
e-mail: laurence.westerlund@seb.se
Telephone: +46 8 763 86 27
Per Andersson
e-mail: per.andersson@seb.se
Telephone: +46 8 763 81 71
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