SPAREBANK1 SR-BANK ASA; SHARE SAVINGS PROGRAMME/BUYBACK PROGRAMME

19 Dec 2022 08:49 CET

The share savings programme for employees of SpareBank 1 SR-Bank was introduced
in 2019. The purpose of the programme is to motivate employees to become co
-owners of the bank and at the same time to enhance interest in the bank's
strategy and results.

The Board of Directors of SpareBank 1 SR-Bank have decided to continue the
scheme in 2023. Employees are invited to save a fixed amount per month to buy
shares in the bank. Employees who have registered for the savings programme can
choose between purchasing shares amounting to NOK 6,000, NOK 12,000, NOK 24,000
or NOK 36,000 in total for the period January to December 2023. The total amount
the individual employee chooses to save in 2023 will be distributed in equal
instalments over 12 months and will be paid through monthly
salary deductions. SpareBank 1 SR-Bank will purchase shares on behalf of
the employees who participate in the savings programme. The bank will give the
employees a 30% discount on the average purchase price. The employees must agree
to a two-year binding commitment period for the shares.

SpareBank 1 SR-Bank aims to purchase shares on the market each quarter on the
day or the days following presentation of the results for the first, second and
third quarters of 2023 respectively, and in mid-December 2023. The purchase
price and number of shares acquired by the bank will be reported in accordance
with applicable regulations. The first two buybacks are based on
the authorisation granted to the Board of Directors of SpareBank 1 SR-Bank at
the General Meeting of 28 April 2022. The Board of Directors will ask the
General Meeting for new authorisation for share buybacks at the Annual General
Meeting of 13 April 2023.

72,4 % of the employees have subscribed for the share savings programme for
2023. In total, SpareBank 1 SR-Bank will need to buy back shares totalling NOK
38,394,000 in 2023. According to the authorisation granted by the General
Meeting, the lowest price that can be paid for a share is NOK 25 and the highest
price is NOK 250. SpareBank 1 SR-Bank has authorised SpareBank 1 Markets to
carry out the buybacks.

See the enclosed summary of the primary insiders at SpareBank 1 SR-Bank who have
registered for the 2023 share savings programme. The amounts stated are the
total amounts for 2023 for which the individual has subscribed. The number of
shares allocated to individual primary insiders under the savings programme will
be announced at the times of resale of the shares to the employees.
This information is disclosed in compliance with section 5-12 of the Securities
Trading Act.

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578534_Primary_insiders_share_savings_programme_2023.pdf