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Swedbank AB

At the Swedbank general meeting, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against items 10 and 15 for the following reasons:

Item 10: Decision whether to discharge the members of the Board of Directors and the CEO from liability

Rationale:
Folketrygdfondet exercises particular caution in voting for a discharge of liability while a company is the subject of serious allegations. As of the deadline for proxy voting, Swedbank awaited the Forensic Risk Alliance report concerning irregularities in the bank’s Baltic
operations. It was therefore deemed premature to vote for a discharge of liability pending the release of more information on the nature and credibility of these allegations.

Item 15: Election of auditor

Rationale:
As a matter of principle, Folketrygdfondet supports annual appointment of the company auditor. Under this item, Swedbank requests appointment of its auditor for a four-year period. For this
reason, Folketrygfondet voted against item 15.