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Swedbank acquires Entercard

Swedbank has today reached an agreement to acquire Barclays' ownership stake in

Entercard. As a result, Entercard will become a wholly owned subsidiary of

Swedbank.

"Today we are forming the largest card business in the Nordics and Baltics.

Through this acquisition, Swedbank continues to invest in and develop our

business. This creates even greater opportunities to strengthen our customer

offering," says Tomas Hedberg, Deputy CEO of Swedbank.

Entercard is one of the leading credit market companies in the Nordics, offering

card products and consumer loans with partnerships in Sweden, Norway, Denmark

and Finland.

Swedbank and Barclays have co-owned Entercard since 2005. Entercard currently

has approximately 450 employees and 1.5 million customers, and will continue to

operate under its own brand.

"For 20 years, Entercard has been on a strong growth journey. Becoming a full

part of Swedbank, the leading financial group in Sweden and the Baltics, creates

new business opportunities to further strengthen our operations," says Jan

Haglund, CEO of Entercard.

The purchase price is based on the amount corresponding to 50 per cent of

Entercard's equity at the time of acquisition. In the first quarter of 2025, the

company's total equity amounted to approximately SEK 5.2 billion.

The acquisition is expected to negatively impact Swedbank's Common Equity Tier 1

capital ratio by approximately 30 basis points upon completion of the

transaction, and is a natural consequence of Swedbank's 15/27 business plan.

The acquisition is subject to approval by the relevant authorities.

For further information, please contact:

Maria Caneman, Head of Investor Relations, phone: +46 72 238 3210,

Hannes Mård, Head of Press, phone: +46 73 057 41 95,

This information constitutes inside information that Swedbank AB (publ) is

obliged to make public pursuant to the EU Market Abuse Regulation (EU no

596/2014). The information was submitted for publication, through the agency of

the contact person set out above, 28 August 2025, at 08:15 CEST.

Swedbank empowers the many people and businesses to create a better future. Our

vision is a financially sound and sustainable society. Swedbank Group is the

leading bank with over 7 million retail customers and 550 000 corporate

customers in our four home markets Sweden, Estonia, Latvia and Lithuania.

Swedbank Group is also present in other Nordic countries, the U.S. and China.

Together we make your financial life easier. Find out more: www.swedbank.com

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