Framework for solvency in Sampo Group Capital Markets Day, September 11th 2015 CFO Peter Johansson

1. Present framework for solvency in Sampo Group

03/09/2015

2

Present Regulatory Framework for solvency in Sampo Group, 30 June 2015

10,991

1,622 2,825

9,788

873 280

3,826

68

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Sampo plcNordeaLifeP&C

5,047

Group solvency ratio 194%

EURm

3

03/09/2015

Solvency I and Nordea with adjustment to Basel I floor

Present Internal framework for solvency in Sampo Group

1,939

1,320

3,469

853

5,876

9,788

273 313

10,373

01,0002,0003,0004,0005,0006,0007,0008,0009,000

10,00011,000

If P&C MandatumLife

Sampo plc'sshare ofNordea

Diversific. Group EC Adj. Groupsolv. capital

*) Liability side adjustments, which equal discount effect less risk margin **) Finnish equalization provisions

EURm

*) **)

4

03/09/2015

Group economic capital and solvency, 30 June 2015

2. Solvency II in Sampo Group as of 1.1.2016

03/09/2015

5

Solvency II developments

03/09/2015

6

Mandatum Life • The Finnish FSA issued its decision to approve the use of transitional

measures on August 11, 2015 If P&C Group

• If Group aims to use a Partial Internal Model (PIM) for Solvency II

Solvency II rules will replace EC models both in Mandatum Life and If P&C

Mandatum Life Solvency II Capital Requirement (SCR) and Own Funds 30.6.2015

Without transitional measures.

LAC = Loss Absorbing Capacity TP = Technical Provision DT = Deferred Taxes

With transitional measures. Equity risk transitionals decrease market risk and SCR, while transitional measures of technical provisions increase own funds

Equity transitional 7 years

Technical provisions transitional 16 years

7

03/09/2015

3,965

1,779

3,866 3,063

3,866

2,342

0500

1,0001,5002,0002,5003,0003,5004,0004,500

Solvency IIcapital

SCR Totalavailable

capital

Targetcapital

Totalavalablecapital

Targetcapital

03/09/2015

8

S&P A BBB

Solvency II

Solvency II and S&P Capital Model Q2/2015 If P&C Insurance EURm

Group capital and solvency 30 June 2015

1,779

1,350

3,826

72 7,027

9,788

273 313

10,373

01,0002,0003,0004,0005,0006,0007,0008,0009,000

10,00011,000

If P&C(PIM****)

Mandatum Life(SCR***)

Sampo plc'sshare ofNordea

Other Total capitalrequirement

AdjustedGroup

Solvencycapital

*) Liability side adjustments, which equal discount effect less risk margin **) Finnish equalization provisions ***) SCR with transition rules ****) Partial internal model SCR

EURm

*) **)

9

Solvency ratio 148%

03/09/2015

Sampo Group capital and solvency Sensitivities under Solvency II, 30 June 2015

03/09/2015

10

10,373

7,027

10,202

7,003

10,530

7,053

10,034

6,809

10,241

7,024

0

2,000

4,000

6,000

8,000

10,000

12,000

Interest Rates -25bp

Interest Rates +25bp

Equity -10%

Spread +50bp

148% 146% 149% 147% 146% Group

Solvency Ratio

EURm

3. Solvency II and Basel III

03/09/2015

11

9,788

1,780 1,780 1,780

313

1,350 1,350 1,350

273

3,826 3,342 4,742

68 68

68

0

2,000

4,000

6,000

8,000

10,000

12,000

Adjustedsolvency capital

Minimum SCR& B III floor

Minimum SCR &B III EU/Finnish,

10.5%

Minimum SCR &B III Swedish,

14.9%

Sampo plc

Nordea

Life

P&C

Solvency II and Basel III Group Solvency, Q2/2015

* **

10,373

7,024 7,940

* Equalization provisions ** Liability side adjustments

ASC / SCR & B III floor 148% ASC / SCR & B III EU/Finnish 158% ASC / SCR & Basel III 132%

12

6,540

03/09/2015

EURm

Basel IV?

EURbn REA 150 Basel I floor 75 225 Min. 8% 18 21.25% 3,826

Framework for solvency in Sampo Group Capital Markets Day, September 11th 2015 CFO Peter Johansson