Introduction to Swedbank and Kepler Cheuvreux’s partnership July 2017 In cooperation with :
New partnership strengthens Swedbank’s offering Excellent international distribution power through local presence in all major markets = Stil ill l the e same… Our Nordic presence remains unchanged with the same staff and strong local commitment + … … but ut s streng ngthened ned Through the Kepler Cheuvreux partnership, our research coverage and sales force have been significantly expanded on an international level Toget ether er, Swedbank nk and nd Kepler er Cheuvreux eux offer r worl rld-class s research and nd distri ribut ution n bas ased on lo local al expertise an and d glo global l pres esen ence In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux 2 Public
A full-service Investment Bank with a balance sheet We enable value creation Corporate Banking Corporate Finance Debt Capital Markets Structured Finance Corporate lending, deposits, Advisory services, Mergers & Advisory services, bond issuance, Acquisition- and project financing, general advisory ++ Acquisitions, Equity Capital Markets ++ trading, convertibles, hybrids ++ IPO financing ++ Loans & Syndication Markets Equities Corporate Access Sector- and asset-based debt financing, Macro and credit research. Credit Equity sales, company- and Roadshows, company presentations, project- and event-driven financing ++ sales, currencies, derivatives ++ industry research events, field trips ++ In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux 3 Public
Ground-breaking partnership will further improve our offering Largest distribution platform in Europe Corpora orate client organization and offering unchanged within Swedbank Corporate Banking Corporate Finance Debt Capital Markets Structured Finance Corporate lending, deposits, Advisory services, Mergers & Advisory services, bond issuance, Acquisition- and project financing, general advisory ++ Acquisitions, Equity Capital Markets ++ trading, convertibles, hybrids ++ IPO financing ++ Investor or reach significantly strengthened through Kepler Cheuvreux partnership Loans & Syndication Markets Equities Corporate Access Sector- and asset-based debt financing, Macro and credit research. Credit Equity sales, company- and Roadshows, company presentations, project- and event-driven financing ++ sales, currencies, derivatives ++ industry research events, field trips ++ In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux 4 Public
Swedbank – ranked as one of the world’s strongest banks A rock-solid business partner Bloomberg ranking of the world’s strongest banks* CET-1 ratios, selected European banks (AT1) 30% Rank nking ng Ban Bank Swedbank: k: 1 Hang Seng Bank (Hong Kong) Most solid bank in Europe 25% measured on CET-1 ratios 2 Norinchukin Bank (Japan) 3 Oversea-Chinese Banking (Singapore) 20% 4 National Commercial Bank (Saudi Arabia) … … 15% 13 13 Swed edba bank (Swed eden en) 10% … … 17 UBS (Switzerland) 5% 18 Canadian Imperial Bank of Commerce (Canada) 19 Svenska Handelsbanken (Sweden) 0% Swedbank SHB SEB Nordea Danske Bank DNB Lloyds ABN KBC RBS BKIR Credit Agr. AIB Erste Popular Santander Intesa ING Barclays HSBC BNP Deutsche BBVA Soc Gen 20 Credit Suisse Group (Switzerland) In cooperation with: Information class Source: Bloomberg, EBA, Swedbank 5 Public * Bloomberg’s most recent report (for 2015)
Locally anchored, with global reach Offering world-class distribution through Kepler Cheuvreux partnership 6% ownership 15% ownership 5% ownership 5% ownership Swedbank/Kepler Cheuvreux or affiliate office 120+ 120+ 150+ 150+ 973 973 1 1 350 350 11 11 8 th th research sales & sales companies institutional countries with largest broker analysts traders covered clients local distribution in Europe* In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux 6 Public * Measured on secondary trading
Highly research-driven Top-ranked research team with local presence across Europe Jan-Pet Ja eter r Lars rsson Head of Nordic Countries A pan-European research team of 120+ analysts Henni He nning ng Steffenrud enrud covering Head of Nordic Research 973 companies, of which 300 Nordic Jose He Herna rnand ndez Co-Head of Equity Brokerage companies Mic ichael Jaf afs #1 #1 #3 #3 To Top 1 10 Head of Swedish Research Broker erage f e firm Sustain ainab abilit ility/ y/SR SRI In 14 r resear arch ch country research research sectors In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux, Extel Survey 2017 7 Public
Unrivalled placing power We have local brokers in every major financial centre in Europe 1 ~5.4m 4m retail clients Strong retail ~850 850k trading accounts 2 coverage in the Nordics ~24k 24k priv. banking clients 3 150+ sales & sales traders; largest 65 7 2 distribution platform in Europe 2 3 7 19 11 10 29 11 1 9 countries with local distribution 6 MiFID II compliant; ready for full implementation US and Asia #2 #2 #1 #1 presence Swedbank/Kepler Cheuvreux or affiliate office Pan-European Small & Europe: equity sales & sales equity & equity Mid cap traders linked sales sales In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux, Extel 2017 survey 8 Public
Strong ECM track-record Kepler Cheuvreux partnership model proven through UniCredit, Credit Agricole and Rabobank ECM league tables since start of KC partnerships Selected Swedbank ECM transactions UniCredit Mediobanca Intesa Sanp. Block sale Initial Public Equity raise Rights issue UBS Offering Merrill Lynch June 2017 June 2017 June 2017 June 2017 ECM 0% 5% 10% 15% NOK 426m 426m SEK 4 4 524m 524m USD 500m 500m NOK 190m 190m Since Jan. 2012 Credit Agr. Deutsche Societe Gen. Initial Public Initial Public Private Convertibles and BNP Paribas Offering Offering placement bond issue JP Morgan June 2017 April 2017 March 2017 March 2017 Equity 0% 5% 10% NOK 8 8 400 400m SEK 136m 136m SEK 304m 304m SEK 245m 245m Since Apr. 2013 Rabobank ING BNP Paribas Rights issue Private Rights issue Morgan Sta. placement Block sale in SAS ABN Amro February 2017 February 2017 January 2017 October 2016 IPO 0% 5% 10% 15% 20% SEK 374m 374m NOK 154m 154m SEK 1 1 800m 800m SEK 357m 357m Since Jul. 2016 In cooperation with: Information class Source: Swedbank, Kepler Cheuvreux 9 Public France equity includes rights and excludes ABBs/blocks
Excellent M&A capabilities Solid track record of both buy- and sell-side transactions, long list of recent high-profile deals Selected Swedbank M&A transactions Statoil/Lundin Petroleum case study • In January 2016, Statoil announced the acquisition of 37.1m shares in Lundin Fairness Opinion in Advisor to buyer in – Corresponding to 11.93% of total outstanding shares EQT’s acquisition acquisition of Sale of Quintus Sale of Euromaint – SEK 4.6bn position at the time of announcement of DGC PayEx Technologies Advisor to the debt holder – Two-step transaction including use of derivatives and wall- SEK 2, 2,350 350m Un Undis isclo losed USD 115m 115m SEK 650m 650m crossing in a reverse accelerated bookbuild June 2017 May 2017 April 2017 October 2016 • In May 2016, Statoil swapped its 15% interest in the Edvard Grieg license with Lundin and received an additional 8% ownership in Lundin as consideration Merger of Hofseth • Approximately SEK 2.3bn in profit to date Sale of Plantasjen Sale of Prevex to Hexagon and acquisition of to Ratos Ahlsell Agility Fuel Fjordlaks – Statoil holds 68.4m (20.1%) shares in Lundin at an average Systems purchase price of SEK 130.74 per share* NOK 2 2,900m 00m Un Undis isclo losed USD 318m 318m NOK 1,000m NO 00m September 2016 August 2016 June 2016 June 2016 200 May 201 2016: Swap for 8% Janua nuary 2 2016 16: 160 Acquisition of 12% Swap agreement Sale of Midtfjellet bringing STL’s Equity Financing of Advisor in merger Vindkraft to Aquila 120 stake in LUPE to Fosen Wind farm Capital 20% SEK 4, 4,300 300m February 2016 2016 Jan anuary 2016 2016 Un Undis isclo losed 80 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 May 2016 Undisclosed Undisclosed December 2015 In cooperation with: Information class Source: Swedbank, Infront 10 Public
Top position in the Nordic HY market Swedbank is a leading arranger and trader in bonds NO+SE: Amount issued NOK/SEK HY bonds 2012 – YTD NO+SE: # of issued NOK/SEK HY bonds 2012 – YTD Swedbank Swedbank 38,270 142 Pareto Pareto Nordea DNB DNB Nordea ABG ABG Danske Danske SEB SEB Arctic Arctic NO NOKm # of i issu ssues 0 10,000 20,000 30,000 40,000 50,000 0 50 100 150 In cooperation with: Information class Source: Bloomberg, EBA, Swedbank 11 Public
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