Svensk Exportkredit (SEK) investor relations material

Executive summary

• 9M26 operating profit rose to Skr 1,618mn from Skr 1,459mn; net profit reached Skr 1,285mn from Skr 1,158mn, supported by higher net interest income and positive net credit losses.

• 9M26 after-tax return on equity improved to 7.0% from 6.3%; Q3 return was 6.8% as business activity remained somewhat subdued.

• Lending portfolio increased to Skr 266.8bn at September 30, 2026, from Skr 262.7bn at year-end 2025; fewer large export and project financings weighed on new commitments.

• 100% Swedish Government-owned, with a mission to strengthen Sweden’s export industry and support employment and sustainable growth; financing activities span around 60 countries.

Financial highlights

• 9M26 net interest income was Skr 2,104mn, up 3% YoY; lower risk tax was the main driver, partly offset by lower average short-term SEK interest rates.

• 9M26 operating expenses rose 3% YoY to Skr 580mn, mainly on higher personnel costs following strategic hiring; C/I ratio remained 28%.

• 9M26 net credit losses were a positive Skr 66mn versus a Skr 13mn loss in 9M25; net financial transaction results were Skr 44mn versus Skr 10mn.

• Q3 net interest income increased 6% YoY to Skr 717mn; operating profit was Skr 527mn versus Skr 531mn and net profit was Skr 418mn versus Skr 421mn.

Segment performance

• New credit and guarantee commitments were Skr 45.6bn in 9M26 versus Skr 97.4bn in 9M25, as fewer large export and project financing deals closed.

• Q3 new commitments were Skr 8.5bn, primarily operating financing; the quarter included participation in Scandic Hotels Group’s refinancing framework totaling ~Skr 7.5bn.

• Sustainability-classified lending reached Skr 61.8bn at September 30, 2026, including Skr 47.1bn green, Skr 2.4bn social and Skr 12.4bn sustainability-linked loans.

• Lending portfolio regional mix: Sweden 43%, Latin America 14%, North America 13%, Middle East and Africa 12%, and Western Europe excluding Sweden 11% at September 30, 2026.