Swedbank A

Legal Proceedings Report • May 5, 2021

Decision by the Disciplinary Committee of Nasdaq Stockholm

Decision by the Disciplinary Committee of Nasdaq Stockholm

The Disciplinary Committee at Nasdaq Stockholm today ordered Swedbank to pay a

fine of twelve annual fees, equivalent of SEK 46.6 million. As Swedbank stated

in its Q1-report on April 27, the issue concerns historical matters dating back

to 2016-2019. The Disciplinary Committee states that Swedbank over a long period

of time had shortcomings in its AML processes and routines and that the

shortcomings were known to the bank's former top management for a long period of

time.

During March, Nasdaq Stockholm AB (Nasdaq) informed the bank of the conclusions

of its review as to whether the bank had breached the Nasdaq's rules during the

period December 2016 to February 2019.

Later, the review was handed over to the Disciplinary Committee of Nasdaq

Stockholm which has now decided the matter. Swedbank stated in the quarterly

report on April 27 that the bank largely concurs with Nasdaq's conclusions.

"During the last year, the bank has undertaken several measures to strengthen

processes for the disclosure of information. Today's decision means that yet

another issue concerning the bank's historical shortcomings, is closed," says

Jens Henriksson, President and CEO of Swedbank.

As the bank communicated in the quarterly report on April 27, 2021, the bank

expected that the Disciplinary Committee of Nasdaq Stockholm would decide on a

fine and therefore allocated SEK 30 million for the purpose.

Contact information:

Annie Ho, Head of Investor Relations, +46 70 343 78 15

Unni Jerndal, Head of Group Press Office, +46 73 092 11 80

Swedbank AB (publ) is required to disclose this information pursuant to the

Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments

Trading Act (1991:980) and the regulatory framework of Nasdaq Stockholm. This

information was sent to be published on May 5, 2021 at 08:45 CET.

Swedbank encourages a sound and sustainable financial situation for the many

households and businesses. As a leading bank in our home markets of Sweden,

Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial

services and products. Swedbank has over 7 million retail customers and around

600 000 corporate customers and organisations with 159 branches in Sweden and 82

branches in the Baltic countries. The group is also present in other Nordic

countries, the US and China. Read more at www.swedbank.com