SEB - Skandinaviska Enskilda Banken

At the Skandinaviska Enskilda Banken’s general meeting, Folketrygdfondet, manager of the
Government Pension Fund Norway, voted against item 14for the following reason:

Item 14: Elect CEO Johan Torgeby as a board member

Folketrygdfondet opposes the election of the CEO to the board of directors as a matter of
principle. One of the board’s main tasks is the supervision of company management, which
includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members
can only supervise company management adequately if they are not recruited from among
management. For this reason, we voted against item14.