SEB is a leading Nordic and Baltic financial services group. In the first quarter of 2008: - Operating profit decreased 42% to SEK 2.4 billion due to cautious customer sentiment, lower fee income in capital markets, and valuation losses of SEK 0.9 billion. - Net interest income grew despite higher funding costs, while fee income declined in retail and private banking and capital markets. Credit losses increased in Estonia. - SEB aims to be the leading bank in Northern Europe through sustainable profit growth, high customer satisfaction, and an AA credit rating. The group is well capitalized with a Basel II core capital ratio of 8.85% at the end of the first

1. Annika Falkengren
CEO
UBS Global
Financials
Conference
New York
May 13, 2008

2. SEB of today – an attractive platform
2

3. SEB – different already
from the start
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
3

4. SEB’s market franchise
Customer segmentation, 2007 Customer survey
Distribution of income
100
100%
Important
relation-
80%
ships/
customers
%
60%
Large
Institutional
corporates
clients and
40% Sweden
banks –
Nordic region
20%
0%
0
DnB NORDanske Nordea SHB Swedbank SEB
Bank
100
Retail- Nordic Retail Germany
0
Retail-Baltic Retail GB/Ireland Difference from
Merchant B AM
100
the average, %
Life
4

5. Global leader in cash management
- the glue product
The Cash Management Value ChainTM by SEB
“ A lean & efficient
financial supply
chain is a
competitive
advantage!”
”No. 1 Overall Customer satisfaction in Europe”
Euromoney Cash Management Poll, 2005, 2006 & 2007
Poll of 4,500
”No. 1 globally Industry Expertise & Knowledge” treasurers globally
Euromoney Cash Management Poll, 2007 (11 of 23 categories)
5

6. Global foreign exchange position
International ranking Leadership through:
Corporate foreign exchange ● Advisory services
● Electronic trading
2007 2006
solutions
1 1 Citi
● Research
2 2 Deutsche Bank
3 4 HSBC
11 10 BNP Paribas
12 12 SEB
13 13 Mitsubishi UFJ Fin Grp
“Best FX forecaster globallyquot; quot;Best FX customer satisfaction
and market sharequot;
6

7. Nordic capital markets leadership
Assets under Custody
Equity trading market shares
Nordic & Baltic Stock Exchanges Q1 2008* EUR bn
SEB
8.5% Nordea AuC SEB AuC
Enskilda 600
500
6.0%
Glitnir
400
4.4%
Carnegie 300
200
3.1%
Evli
100
0
2.5%
Danske
2002 2007
Best Equities House in the Custodian of the Year,
Nordic and Baltic regions Nordic Region
Best Equity Research in the
Best sub-custody bank
Nordic countries
in Denmark, Finland, Latvia,
Best Stock broker in
Lithuania, Norway and Sweden
Nordic region
*Source: The Nordic Stock exchanges
7

8. A leading Nordic asset manager
Attractive hedge fund offering Assets under Management
Net inflows in the Swedish mutual funds March 31, 2008, SEKbn
Cumulative FY 2007 and Q1 2008, SEKbn
15.2 Nordea 1,368
-8.6 SEB 1,331
-13.6
-18.5
Robur SHB Nordea SEB
Danske Bank 726
AuM hedge funds, SEKbn
DnB NOR 648
50
40
Swedbank
30 629
20
10
Handelsbanken 263
0
2004 2005 2006 2007
8

9. Our strategy – The Road to Excellence
Expand and
Co-ordinate accelerate
Focus
universal offering growth in areas
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
and integration
Operations
Group Staff
Norway Finland Germany Latvia Ukraine
Russia
Estonia
Sweden Denmark Poland Lithuania
From To
Productivity
1 1 2 3
2
3 OK
4
5 OK
2006 2007 2008 2009 2010
Proactivity
9

10. Cost-management commitment
2007 – 2009:
Commitment
SEK 1.5 – 2bn
Realised since start
SEK 625m
10

11. 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
11

12. Examples from Merchant Banking
Income growth, SEKbn
Corporate Banking
Foreign Exchange
Global Transaction Services
Excl. CRE and CRM
Custody, Cash management etc
3.6
3.5
3.2
2.7
2.5
2.4
2.2
2.1
2.1 2.0
1.9 1.8
1.7
0.8
0.8
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
12

13. Example: life insurance
Assets under Management International sales
SEKbn Outside Sweden and Denmark, SEKbn
Traditional and Risk Unit-linked
1.7
408
395 384
368
311
215
0.8
2003 2004 2005 2006 2007 2008 Jan – Mar 2006 Jan – Mar 2008
Q1
SEB Market share Competitors SEB Rank
Market shares
22 1
Sweden*
Gross premium
income, unit-linked 2
17
Denmark
insurance
2
28
Estonia
(%, 2007)
1
43
Latvia
37 2
Lithuania
13

14. 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
customers
1,000
during 2007
0
2005 2206 2007
14

15. SEB’s entry to Ukraine
A step-wise approach to nation-wide coverage
Participation in consolidation
of an under-penetrated
banking market with long-
term growth potential
Manageable size of
operations
The combination of local
knowledge and international
competences will
differentiate SEB in the
market
2004 2005 2006 2007
SEB Life Acquisition of
Restructuring Rebranding
Acquisition of
registration Factorial Bank
Bank Agio
15

16. Strong balance sheet
Net liquidity position across maturities
Core capital ratio
31 March, SEKbn
Basel II including transitional rules, %
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
16

17. Long-term objectives
Sustainable profit
Customer
growth
satisfaction:
No 1 in chosen
markets
AA-rating
Highest Return
on Equity
The leading bank in Northern Europe
17

18. 18

19. Additional Financial
Information
19

20. Highlights Q1 2008
Operating profit SEK 2.4bn
More cautious customer sentiment Operating profit
SEKbn
Growing net interest income 4.6 4.6
4.2
despite higher funding costs 3.7
Fee income down 3.8
– Retail and Private Banking 2.4
– Capital markets
MtM valuation losses SEK 0.9bn
Cost control
Increased credit losses in Estonia Q1-07 Q2-07 Q3-07 Q4-07 Q1-08
20

21. Key figures
Change Excluding
Q1 Q1 Q4 portfolios
SEKm 2008 2007 2007 Q1 – Q1
Operating income 8,802 -14% -12% -5%
Operating expenses -6,027 4% 2%
-20%
Operating profit 2,410 -42% -47%
Net profit 1,848 -43% -51%
Return on Equity, % 9.6 19.0 20.2 13.2
Cost / income ratio 0.69 0.57 0.59 0.62
Credit loss level, % 0.13 0.10 0.13
RWA, Basel I, SEKbn 909 796 892
Core capital ratio, Basel II 8.85 8.33 8.63
21

22. Operating profit per division
Q1 2008 vs. Q1 2007
SEKm Excl.
ROE
Change
portfolio
Q1 2008
vs. Q1 2007
losses
Merchant
-50% (-5%) 10.8% (20.4%)
Banking
GTS +1%
TCM excl portfolios -12%
Corp.Banking - 2%
Retail Banking 15.3%
-11%
Sweden -5%
Estonia -96%
Latvia +3%
Wealth Lithuania +28% 22.2%
-17%
Germany -44%
Management
Cards +6%
17.3%
-20%
Q1 2008
Life
Q1 2007
-42% 9.6%
0 1,000 2,000
22