Swedbank A

Decision on cancellation of severance pay to former CEO

Given the information in the investigations conducted by the Swedish and

Estonian Financial Supervisory Authorities and the international law firm

Clifford Chance, the Board of Swedbank has decided to unilaterally cancel the

agreement of severance pay to the bank's previous CEO Birgitte Bonnesen. The

severance pay was planned to start as of the 29[th] of March 2020.

The Board has also decided not to make claims against Birgitte Bonnesen,

following considerations of a legal assessment of the conditions for such a

potential process.

The Board of Swedbank has this morning decided that the bank will accept the

decision from the Swedish Financial Supervisory Authority (SFSA) of an

administrative fine of four billion SEK, which means that the bank will not

dispute the decision by the SFSA.

Contact:

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

This announcement involves the disclosure of inside information

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

Regulation (EU) No 596/2014 on market abuse, 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 23 March 2020 at 07:30 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 168 branches in Sweden and 99

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

countries, the US and China. As of 31 December, 2019 the group had operating

profit of 24 420 SEKbn. Read more at www.swedbank.com

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