Swedbank A

Legal Proceedings Report • Mar 10, 2023

March 10, 2023

Swedbank makes provision for potential agreement with OFAC

Swedbank can now assess the financial impact from the investigation by the U.S. Treasury's Office for Foreign Assets Control (OFAC) regarding the bank´s historical shortcomings. OFAC's investigation relates to the transactions that the bank has notified the authority about. Swedbank therefore makes a provision of 40 million SEK.

"We can now assess the financial impact. The dialogue with OFAC is good. But we cannot say when it will be concluded," says Tomas Hedberg, Head of Special Task Force and Deputy CEO of Swedbank.

The investigations by the Department of Justice (DoJ), Securities and Exchange Commission (SEC), and Department of Financial Services in New York (DFS), are ongoing. Swedbank is holding separate discussions with them through our U.S. legal advisors.

The investigations are at different stages and the bank cannot at this time determine any financial consequences, nor when the investigations will be completed.

Contact:

Annie Ho Unni Jerndal Head of Investor Relations Senior Advisor +46 70 343 7815 +46 73 092 1180

annie.ho@swedbank.com unni.jerndal@swedbank.com

This disclosure contains information that Swedbank is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10-03-2023 07:30 CET.

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