Nordea launches Long Term Incentive Plan for 2024-2026

02 Feb 2024 18:00 CET

Nordea Bank Abp
Stock exchange release - Other information disclosed according to the rules of
the Exchange
2 February 2024 at 19.00 EET

Nordea Bank Abp's (Nordea) Board of Directors has today decided to continue the
share-based Long Term Incentive Plan (LTIP) launched annually from 2020 for a
new performance period covering the financial years 2024-2026. It includes the
CEO and nine other members of the Group Leadership Team (GLT) and approximately
50 senior leaders.

Nordea wants to ensure that management incentives are aligned with the
shareholders' interests. In support of this, the Board has decided to continue
the share-based LTIP that has been approved and launched annually from 2020. The
LTIP for 2024-2026 continues to cover members of the GLT and approximately 50
senior leaders and key employees whose efforts have a direct impact on Nordea's
results, profitability, customer vision and long-term growth.

As part of the LTIP, the members of the GLT and senior leaders will be allocated
conditional shares in 2024. These conditional shares have a three-year
performance period covering the financial years 2024-2026, with subsequent
deferral and retention periods according to applicable regulations.

The total maximum number of shares that can be granted to participants as part
of the LTIP 2024-2026 is 748,731 Nordea shares for the CEO and members of the
GLT, and a maximum of 1,000,000 Nordea shares for selected senior leaders
(approximately 50 participants). In 2027, based on Nordea's performance, the
maximum number of shares or a proportion of these will be granted to the
participants. Once shares are granted, if any, the first portion of the shares
is delivered in 2027, and the rest of the shares are deferred and delivered
annually in five equal portions during 2028-2032. Each share delivery is subject
to a 12-month retention period, during which the delivered shares cannot be sold
or otherwise disposed of.

The conditional allotment of shares for GLT members in 2024 will remain broadly
at the same allocation levels as in 2023.

The estimated aggregate gross value of the LTIP 2024-2026 for the GLT and for
senior leaders, calculated on the basis of the average share price on the Nasdaq
Helsinki exchange yesterday, is approximately EUR 8.4 million.

The LTIP performance requirements have been set so that the maximum outcome will
require achieving exceptional financial and sustainability performance. The
assessment of performance during the LTIP performance period will be based on
the following performance criteria:

· Total shareholder return
· Cumulative adjusted earnings per share (aEPS)
· ESG scorecard: Lending, investments and internal operations emission
reduction, gender balance, fair treatment and credit profile

No shares will be granted if the participant's employment terminates before
confirmation of the award by the Board of Directors after the end of the
performance period. Share grants may be reduced in part or in full subject to
risk and compliance adjustments.

The LTIP shares will be delivered to the participants either through transfer of
own shares held by Nordea or by issuing new shares. Thus, the share delivery may
have a marginal dilutive effect on the Nordea share.

For further information:

Ilkka Ottoila, Head of Investor Relations, +358 9 5300 7058
Media inquiries, +358 10 416 8023 or press@nordea.com

The information provided in this stock exchange release was submitted for
publication, through the agency of the contacts set out above, at 19.00 EET on 2
February 2024.

We are a universal bank with a 200-year history of supporting and growing the
Nordic economies - enabling dreams and aspirations for a greater good. Every
day, we work to support our customers' financial development, delivering best-in
-class omnichannel customer experiences and driving sustainable change. The
Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq
Stockholm exchanges. Read more about us at nordea.com.

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