FRN Variable Rate Fix

SWEDISH MATCH AB

Issue of SEK 350,000,000 Floating Rate Notes due

1 Feb 2018 Series 31 Tranche 1 MTN

ISSUE NAME.

Our Ref. MF5495

ISIN Code. XS0789183570

INTEREST AMT PER DENOM.

CURRENCY CODE. SEK

DAY BASIS. Actual/360 (A004)

NUM OF DAYS. 92

INTEREST RATE. 1.56 PCT

VALUE DATE. 01/11/2017

INTEREST PERIOD. 01/08/2017 TO 01/11/2017

SEK 1,000,000.00 IS SEK 3,986.67

POOL FACTOR. N/A

Deutsche Bank AG