Key Economic Indicators & Events: Feb, 2016

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2 Key Economic Indicators & Events: Feb, 2016 FRIDAY 19 FEB 2016 Date CET Country Event Period SEB forecast* Consensus* Last* Mon 22 Speeches: ECB s Lautenschläger (19.00), NY Fed s Potter (19.00). Reports: Lifco, HSBC. Other: IEA releases medium-term oil market report (10.00) FRA PMI manufacturing (Markit) services Feb, p GER PMI manufacturing (Markit) services Feb, p SWE Riksbank releases minutes from Feb. 10 monetary policy meeting EMU PMI manufacturing (Markit) services Feb, p US PMI manufacturing (Markit) Feb, p Tue 23 Gov. auctions: US to sell 2y notes (19.00). Speeches: Riksbank s Ingves & Flodén in parliament hearing (10.00), SNB s Jordan (12.15), ECB s Nouy (14.30), Fed s Fischer on monetary policy (14.30), Nevada caucus (rep.) in US primary GER GDP seas. adj. qoq/yoy Q4, f 0.3/ / FRA Manufacturing confidence prod. outlook ind. Feb GER IFO business current expectations Feb US Case-Shiller house prices (CS-20) Dec 0.80/ / US Consumer confidence Feb US Existing home sales Jan 5.45m 5.40m 5.46m Wed 24 Gov. auctions: Germany to sell 28y bonds (11.30), US to sell 2y floating notes (17.30) & 5y notes (19.00). Speeches: Riksbank s Flodén (09.20), BOC s Schembri (18.35), Fed s Kaplan (19.15). Reports: Airbus SWE National Debt Office presents forecast and financing plan NOR Unemployment rate (AKU) Dec NOR Oil investment survey Q US PMI services (Markit) composite Feb, p US New home sales Jan 520k 520k 544k Thu 25 Gov. auctions: Sweden to sell I/L bonds 3110 & 3102 (11.00), US to sell 7y notes (19.00). Speeches: Fed s Bullard (01.00) & Lockhart (14.15) & Williams (18.00). Reports: Lundbergs. Other: Riksbank to buy SGB1051 & 1059 (10.00). Norges Bank Inflation expectations survey, Q1 (10.00) GER GfK consumer confidence Mar SWE Economic tendency survey (NIER) Feb SWE Consumer confidence manufacturing Feb SPA GDP qoq/yoy Q4, f 0.8/ / SWE PPI household lending yoy Jan 0.2/ / SWE Trade balance Jan SEK 1.0bn SEK 1.0bn SEK 4.7bn EMU M3 money supply yoy Jan UK GDP qoq/yoy Q4, p 0.5/ / EMU CPI core yoy Jan -1.4/ / US Initial jobless claims Feb k 262k US Durable goods orders ex. transportation Jan, p US FHFA house price index Dec Fri 26 Speeches: Fed s Powell (16.15) & Brainard (19.30), ECB s Praet (19.30). Reports: RBS. Other: G20-meeting in Shanghai Feb th for Finance Ministers & Central Bank governors JAP Natl. CPI Natl. CPI ex. food & energy (y/y) Jan FRA CPI HICP Feb, p 0.4/ / / / FRA GDP qoq/yoy Q4, p 0.2/ / SWE Retail sales Jan 1.5/ / / NOR Unemployment rate, registered Feb EMU Consumer confidence Feb, f EMU Eco. conf. serv. indu. bus. climate ind. Feb GER CPI HICP Feb, p 0.5/ / / US GDP qoq AR core PCE Q4, s US Personal income spending PCE core Jan / / US Michigan sentiment Feb, f * % MoM/YoY unless otherwise stated. Benjamin Dousa, This report is produced by Skandinaviska Enskilda Banken AB (publ) for institutional investors only. Information and opinions contained within this document are given in good faith and are based on sources believed to be reliable, we do not represent that they are accurate or complete. No liability is accepted for any direct or consequential loss resulting from reliance on this document. Changes may be made to opinions or information contained herein without notice. Any US person wishing to obtain further information about this report should contact the New York branch of the Bank which has distributed this report in the US. Skandinaviska Enskilda Banken AB (publ) is a member of London Stock Exchange. It is regulated by the Securities and Futures Authority for the conduct of investment business in the UK.

3 Friday, 12 February 2016 previous new action Liechtenstein S&P AAA / Stable AAA / *- Watch Negative Friday, 19 February 2016 Agency Rating / Outlook last change Change? Spain Moody's Baa2 / Positive 02/21/2014 no EFSF S&P AA / Negative 10/10/2007 no Malta Fitch A / Stable 09/20/2013 no Macedonia Fitch BB+ / Negative 08/21/2015 no Friday, 26 Februar 2016 Germany Moody's Aaa / Stable 02/28/2014 no Austria Moody's Aaa / Negative 10/23/2015 no Luxembourg Moody's Aaa / Stable 02/28/2014 no Greece Moody's Caa3 / Stable 09/25/2015 no Azerbaijan Fitch BBB- / Stable 11/05/2012 Outlook Negative? Turkey Fitch BBB- / Stable 11/05/2012 Outlook Negative? Iraq S&P B- / Stable 09 Mrz 2015 no

4 Market Riksbank SEB Market vs. Effective pricing Feb 2016 forecast date Repo chg Repo chg Repo chg RB SEB * * denotes an assumed inter-meeting effective date.

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9 Statistic Norway s oil sector investment survey Q4/15 survey: Operators put nominal investment -10% in 2015 (prev. -9.9%) from actual level in 2014 and -11.4% (prev. -6.1%) in 2016 from current forecast for 2015 NOK bn NOK bn Actual and planned investment oil/gas extraction and pipelines

10 Norwegian unemployment No in No in LFS unemployment, 3 mth. average Reg. unemployed and employment schemes

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