Introduction to Swedbank and Kepler Cheuvreuxs partnership July - - PowerPoint PPT Presentation

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Introduction to Swedbank and Kepler Cheuvreux’s partnership

​July 2017

Public Information class In cooperation with: 2

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

= +

Source: Swedbank, Kepler Cheuvreux

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A full-service Investment Bank with a balance sheet

3

​We enable value creation

Corporate Banking

Corporate lending, deposits, general advisory ++

Corporate Finance

Advisory services, Mergers & Acquisitions, Equity Capital Markets ++

Debt Capital Markets

Advisory services, bond issuance, trading, convertibles, hybrids ++

Structured Finance

Acquisition- and project financing, IPO financing ++

Loans & Syndication

Sector- and asset-based debt financing, project- and event-driven financing ++

Equities

Equity sales, company- and industry research

Markets

Macro and credit research. Credit sales, currencies, derivatives ++

Corporate Access

Roadshows, company presentations, events, field trips ++

Source: Swedbank, Kepler Cheuvreux

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Ground-breaking partnership will further improve our offering

4

​Largest distribution platform in Europe

Corporate Banking

Corporate lending, deposits, general advisory ++

Corporate Finance

Advisory services, Mergers & Acquisitions, Equity Capital Markets ++

Debt Capital Markets

Advisory services, bond issuance, trading, convertibles, hybrids ++

Structured Finance

Acquisition- and project financing, IPO financing ++

Loans & Syndication

Sector- and asset-based debt financing, project- and event-driven financing ++

Equities

Equity sales, company- and industry research

Markets

Macro and credit research. Credit sales, currencies, derivatives ++

Corporate Access

Roadshows, company presentations, events, field trips ++

Corpora

• rate client organization and offering unchanged within Swedbank

Investor

• r reach significantly strengthened through Kepler Cheuvreux partnership

Source: Swedbank, Kepler Cheuvreux

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Swedbank – ranked as one of the world’s strongest banks

5

​A rock-solid business partner

Bloomberg ranking of the world’s strongest banks* CET-1 ratios, selected European banks (AT1)

Rank nking ng Ban Bank 1 Hang Seng Bank (Hong Kong) 2 Norinchukin Bank (Japan) 3 Oversea-Chinese Banking (Singapore) 4 National Commercial Bank (Saudi Arabia) … …

13 13 Swed edba bank (Swed eden en)

… … 17 UBS (Switzerland) 18 Canadian Imperial Bank of Commerce (Canada) 19 Svenska Handelsbanken (Sweden) 20 Credit Suisse Group (Switzerland) 0% 5% 10% 15% 20% 25% 30% 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

Source: Bloomberg, EBA, Swedbank * Bloomberg’s most recent report (for 2015)

Swedbank: k: Most solid bank in Europe measured on CET-1 ratios

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Locally anchored, with global reach

Source: Swedbank, Kepler Cheuvreux * Measured on secondary trading 6

​Offering world-class distribution through Kepler Cheuvreux partnership

120+ 120+

research analysts

150+ 150+

sales & sales traders

973 973

companies covered

1 1 350 350

institutional clients

11 11

countries with local distribution

8th

th

largest broker in Europe*

6% ownership 15% ownership 5% ownership 5% ownership

Swedbank/Kepler Cheuvreux or affiliate office

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Highly research-driven

Source: Swedbank, Kepler Cheuvreux, Extel Survey 2017 7

​Top-ranked research team with local presence across Europe

A pan-European research team of

120+ analysts

covering

973 companies,

• f which

300 Nordic

companies He Henni nning ng Steffenrud enrud

Head of Nordic Research

Ja Jan-Pet eter r Lars rsson

Head of Nordic Countries

Jose He Herna rnand ndez

Co-Head of Equity Brokerage

#3 #3

Sustain ainab abilit ility/ y/SR SRI research

To Top 1 10

In 14 r resear arch ch sectors

#1 #1

Broker erage f e firm country research

Mic ichael Jaf afs

Head of Swedish Research

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Unrivalled placing power

Source: Swedbank, Kepler Cheuvreux, Extel 2017 survey 8

​We have local brokers in every major financial centre in Europe

Strong retail

coverage in the Nordics

150+

sales & sales traders; largest distribution platform in Europe

11

countries with local distribution

MiFID II

compliant; ready for full implementation

US and Asia presence

~5.4m 4m retail clients ~850 850k trading accounts ~24k 24k priv. banking clients 1 2 3

7 65 2 2 3 10 7 19 9 11 1 29 6 Swedbank/Kepler Cheuvreux or affiliate office Europe: equity sales & sales traders

#2 #2

Pan-European equity & equity linked sales

#1 #1

Small & Mid cap sales

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Strong ECM track-record

Source: Swedbank, Kepler Cheuvreux France equity includes rights and excludes ABBs/blocks 9

​Kepler Cheuvreux partnership model proven through UniCredit, Credit Agricole and Rabobank

Selected Swedbank ECM transactions ECM league tables since start of KC partnerships

Block sale June 2017 NOK 426m 426m Initial Public Offering June 2017 SEK 4 4 524m 524m Equity raise June 2017 USD 500m 500m Rights issue June 2017 NOK 190m 190m Initial Public Offering April 2017 SEK 136m 136m Private placement March 2017 SEK 304m 304m Convertibles and bond issue March 2017 SEK 245m 245m Rights issue February 2017 SEK 374m 374m Private placement February 2017 NOK 154m 154m Rights issue January 2017 SEK 1 1 800m 800m Block sale in SAS October 2016 SEK 357m 357m Initial Public Offering June 2017 NOK 8 8 400 400m ECM Since Jan. 2012

0% 5% 10% 15% Merrill Lynch UBS Intesa Sanp. Mediobanca UniCredit 0% 5% 10% JP Morgan BNP Paribas Societe Gen. Deutsche Credit Agr.

Equity Since Apr. 2013

0% 5% 10% 15% 20% ABN Amro Morgan Sta. BNP Paribas ING Rabobank

IPO Since Jul. 2016

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Sale of Midtfjellet Vindkraft to Aquila Capital Un Undis isclo losed December 2015

Excellent M&A capabilities

Source: Swedbank, Infront 10

​Solid track record of both buy- and sell-side transactions, long list of recent high-profile deals

Statoil/Lundin Petroleum case study Selected Swedbank M&A transactions

Fairness Opinion in EQT’s acquisition

• f DGC

SEK 2, 2,350 350m June 2017 Advisor to buyer in acquisition of PayEx Un Undis isclo losed May 2017 Sale of Quintus Technologies USD 115m 115m April 2017 Sale of Euromaint

Advisor to the debt holder

SEK 650m 650m October 2016 Sale of Prevex to Ahlsell Un Undis isclo losed August 2016 Merger of Hexagon and Agility Fuel Systems USD 318m 318m June 2016 Hofseth acquisition of Fjordlaks NO NOK 1,000m 00m June 2016 Swap agreement bringing STL’s stake in LUPE to 20% SEK 4, 4,300 300m May 2016 Equity Financing of Fosen Wind farm February 2016 2016 Undisclosed Advisor in merger Jan anuary 2016 2016 Undisclosed Sale of Plantasjen to Ratos NOK 2 2,900m 00m September 2016

• In January 2016, Statoil announced the acquisition of

37.1m shares in Lundin

– Corresponding to 11.93% of total outstanding shares – SEK 4.6bn position at the time of announcement – Two-step transaction including use of derivatives and wall- crossing in a reverse accelerated bookbuild

• 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

• Approximately SEK 2.3bn in profit to date

– Statoil holds 68.4m (20.1%) shares in Lundin at an average purchase price of SEK 130.74 per share*

80 120 160 200 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Janua nuary 2 2016 16: Acquisition of 12% May 201 2016: Swap for 8%

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Top position in the Nordic HY market

Source: Bloomberg, EBA, Swedbank 11

​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

38,270 10,000 20,000 30,000 40,000 50,000 Swedbank Pareto Nordea DNB ABG Danske SEB Arctic

NO NOKm

142 50 100 150 Swedbank Pareto DNB Nordea ABG Danske SEB Arctic

# of i issu ssues

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Corporate Access – undisputed leader in Europe

Source: Bloomberg, EBA, Swedbank, Kepler Cheuvreux, Extel 2017 survey 12

​Corporate Access is of the highest importance for institutional investors

#1

European broker

Cor

• rpor

porate Access

(Fund Manager Nominations)

#1

European broker

Re

• Rev. Ro

Roadshows/ Fie ield Trip ips

(Fund Manager Nominations)

#1

European broker

Conferenc ences es

(Fund Manager Nominations)

#1

European broker

Cor

• rpor

porate Access

(Corporate Nominations)

20 20 000 000

• ne-on-
• nes

1 000 1 000

road- shows

2 0 000

bespoke trips

200 200

expert meetings

50 50

thematic field trips

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Disclaimer

This document was prepared exclusively for the benefit and internal use of selected parties in order to evaluate the feasibility of a possible transaction or transactions and does not carry any right of publication or disclosure to any

• ther party. This document is incomplete without reference to, and should be viewed solely in conjunction with, the
• ral briefing provided by Swedbank. This presentation may not be used for any other purposes without the prior

written consent of Swedbank. This presentation is not prepared in accordance with the requirements applying to investment research. This document does not constitute or form part of an offer or invitation or recommendation to subscribe for or purchase any securities. The distribution of this document may be restricted by law in certain jurisdictions, and persons into whose possession this document comes should inform themselves about, and observe, any such

• restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such
• jurisdiction. Swedbank shall not have any responsibility for any such violations. Any decision to purchase or

subscribe for securities in any offering must be made solely on the basis of the information contained in the prospectus or other offering circular issued in connection with such offering. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was otherwise provided to us. The information contained in this document has been taken from sources deemed to be reliable. We do not represent that such information is accurate or complete and it should not be relied on as such. Any opinions expressed herein reflect our judgement at this date, all of which are accordingly subject to change. Swedbank accepts no liability whatsoever for any direct, indirect or consequential loss rising from the use of this document or its contents. Swedbank and/or its employees may hold shares, options or other securities of any issuer referred to in this document and may, as principal or agent, buy or sell such securities. Swedbank may have other financial interests in transactions involving these securities.

Source: Bloomberg, EBA, Swedbank 13