Swedbank has at this point no intention to replace either of these bonds by issuing new subordinated instruments. This statement is in line with Swedbank’s previous announcement regarding its view that the continued ability to support the Bank’s balance sheet should be secured by its core Tier 1 capital. “The current pricing of subordinated debt relative to other forms of capital, is not in our view reflecting the benefit given by the market, regulators and credit agencies for these instruments. We continuously review the Bank’s capital composition, not least considering the upcoming regulatory changes. However, at this point we do not plan for a new issue of subordinated debt” says Jonas Erikson, Head of Treasury at Swedbank. Finansinspektionen (SFSA) has given its approval to both redemptions. For further information please contact: Thomas Backteman, Head of Corporate Communications, Swedbank, phone:+46 708 311 166