Commentary & Deal Flow

Reoffer: 5yr: MS+50bp / 99.833 / 3.412%
Benchmark: 5yr: OBL 2.5 16-Apr-31 @ 98.7 / B+63.1bps / HR: 100%

Final Books over €1.5bn. Peak book above €1.6bn (pre-rec)

Launched: 5yr: €1bn @ MS+50bp - Books above €1.6bn pre-rec
Spread set at: 5yr: MS+50bp - Books above €2bn (excl JLMs)
Book Update: Books above €1.75bn (excl JLMs)
IPTs: 5yr: MS+75a

• Issuer: Skandinaviska Enskilda Banken AB (publ) (“SEB”)
• LEI: F3JS33DEI6XQ4ZBPTN86
• Issuer Credit Rating: Aa3 / AA- / AA- (Stable / Stable / Stable) (Moody’s / S&P / Fitch)
• Exp. Ratings: Aa3 / AA- / AA (Moody’s / S&P / Fitch)
• Offering format: Reg S only, NGN, Bearer form, TEFRA D rules apply (no communications with or into the U.S. or Canada)
• ISIN: XS3367253567
• Status of the Notes: Senior Preferred MREL Eligible Notes, Unsecured
• Ranking Condition: Condition 3A.01 applies (Status – Senior Notes)
• Trade Date: 29-Apr-26
• Settlement Date: 07-May-26 (T+5)
• Maturity Date: 07-May-31
• Size: €1bn
• Re-Offer: MS+50bps / 3.412% / 99.833
• Benchmark: OBL 2.5 16-Apr-31 (98.7 / B+63.1bps / HR: 100%)
• Coupon: Fixed 3.375 %, Annual, ACT/ACT (ICMA)
• Early Redemption: Upon occurrence of an Eligible Liabilities Event (Condition 5.15) or a Tax Event (Condition 5.02) subject to conditions to redemption
• Events of Default: Condition 6B applies
• Waiver Set-Off: Condition 3C applies
• Denominations: €100k x 1k
• Clearing: Euroclear / Clearstream
• Listing: Euronext Dublin (Regulated Market)
• Law: English law, except provisions related to the Status of the Notes which shall be governed by Swedish law
• Bail-in and Loss Absorption Power: Applicable
• Documentation: SEB’s Global Programme for the Continuous Issuance of Medium Term Notes and Covered Bonds (the “Programme”) with information memorandum dated 12-Jun-25, as supplemented (together, the “Information Memorandum”)
• Use of Proceeds: General corporate purposes
• Selling Restrictions: As per the Programme
• Fees: The Joint Bookrunners will be paid a fee by the Issuer in respect of the placement of the Notes
• Target Market: Manufacturer target market (EU MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK
• Joint Bookrunners: Commerzbank, J.P. Morgan (B&D/DM), NatWest, SEB, Société Générale
• Advertisement: The Information Memorandum is available, and the Final Terms, when published, will be available at https://sebgroup.com/investor-relations/debt-investors
• Timing: TOE 13:44 UKT / FTT 14.05 UKT