Nordea Bank AB (publ)
Extended customer ownership of Nordea Liv&Pension

COPENHAGEN, DENMARK — (Marketwired) — 12/21/17 — Nordea Bank AB
(publ) (EURONEXT PARIS: XHFT)

Euronext Paris: XHFT

Extended customer ownership of Nordea Liv & Pension in Denmark

Foreningen Norliv will purchase 45 per cent of the share capital in
Danish Nordea Liv & Pension, livsforsikringsselskab A/S conditional
on approval by the relevant authorities anticipated in Q1 2018. The
purchase will increase Norliv’s stake to 70 per cent in Nordea Liv &
Pension, livsforsikringsselskab A/S.

Foreningen Norliv representing the customers of Nordea Liv & Pension,
livsforsikringsselskab A/S is purchasing the 45 per cent stake from
Nordea Life Holding AB. Norliv acquired a 25 per cent stake a year
ago.

– Norliv’s offer is the natural next step after the purchase of a
minority stake last year and the legacy of customer ownership in the
Danish pensions market. The co-ownership has been very successful and
it has paved the way for Norliv taking over the majority stake, says
Gustaf Unger, CEO of Nordea Life Holding AB.

The price of the 45 per cent of the shares is EUR 472m. In connection
with the transaction it is agreed that Nordea Liv & Pension,
livsforsikringsselskab A/S will purchase the remaining 30 per cent
stake from Nordea Life Holding AB during the coming years.

Due to the transaction and the new ownership Nordea Liv & Pension,
livsforsikringsselskab A/S will be renamed during 2018.

Going forward Nordea and Nordea Liv & Pension, livforsikringsselskab
A/S will continue their collaboration and partnership. A distribution
contract will for instance ensure that Nordea can provide its
customers with Nordea Liv & Pension products.

The transaction in Denmark will have no impact on the Nordea Life &
Pensions companies in Sweden, Finland and Norway.

The transaction will generate a post-tax capital gain of EUR 172m.
The remaining holding in the associated company (30 per cent) will be
remeasured to fair value and is expected to lead to an additional
post-tax gain of EUR 115m for the Nordea Group. The solvency ratio of
NLP Group will increase by approximately 10 percentage points.

The completion of the transaction is subject to approval by the
Danish FSA and antitrust authorities and is expected to occur during
the first quarter of 2018.

For further information:
Rodney Alfven, Head of Investor Relations, +46 72 235 05 15
Claes Eliasson, Acting Head of Group External Communications, +46 72
141 67 12