SpareBank 1 SR-Bank ASA and SpareBank 1 Sørøst-Norge - Key information for completion of merger

24 Sep 2024 15:01 CEST

Reference is made to the joint stock exchange notice of 26 October 2023 by
SpareBank 1 SR-Bank ASA ("SR-Bank", OSE: SRBNK, will be changed to SB1NO) and
SpareBank 1 Sørøst-Norge ("SOON", OSE: SOON") regarding the merger of the two
banks (the "Merger"), as well as the announcements on 5 December 2023 regarding
approval of the merger plan by the general meeting and the supervisory board.

Reference is also made to the subsequent stock exchange notices related to the
conditions for completing the Merger, latest on 24 September 2024, where it was
reported that all conditions for completion of the Merger have been satisfied.

On this basis, it is expected that completion of the Merger, including name
change to SpareBank 1 Sør-Norge ASA, will occur on 1 October 2024. In connection
with the Merger, consideration shares and a cash consideration will be allocated
to equity certificate holders in SpareBank 1 Sørøst-Norge ("SOON holders").

The following key information is provided for the delivery of the consideration
shares and the cash consideration:
Last day of trading in SOON on OSE (and last day of trading inclusive of right
to consideration shares and cash consideration): 30 September 2024.

Effective date for completion of the Merger: 1 October 2024 (prior to opening of
trade)
First day of trading in the combined bank (SpareBank 1 Sør-Norge ASA) on OSE: 1
October 2024
Record date for delivery of consideration shares to former SOON holders: 2
October 2024
Record date for payment of cash consideration to former SOON holders: 2 October
2024
Delivery of consideration shares to former SOON holders: 2 October 2024
Payment of cash consideration to former SOON holders: 7 October 2024
Transferring bank: SpareBank 1 Sørøst-Norge
Acquiring bank: SpareBank 1 SR-Bank ASA
Ticker for the combined bank: SB1NO
ISIN (SB1NO (previous SRBNK), unchanged): NO0010631567
Merger consideration: SOON holders will for each equity certificate held per the
Record date receive:
- 0.481702 shares in SB1NO
- NOK 4.33235 in cash consideration

SpareBank 1 Stiftelsen BV, Sparebankstiftelsen Telemark and Sparebankstiftelsen
SpareBank 1 Modum will receive 32,666,869 shares, 25,033,916 shares and
15,623,606 shares respectively, as compensation for existing equity certificates
and primary capital in SpareBank 1 Sørøst-Norge. Additionally, the three
foundations will receive cash consideration as compensation for the primary
capital in SpareBank 1 Sørøst-Norge.

Total share capital after the Merger: NOK 9,386,407,675.
Total number of issued shares after the Merger: 375,456,307 shares with a
nominal value of NOK 25. Each share represents one vote at the general meeting.
Date of approvals: 5 December 2023 (extraordinary general meetings), 17 April
2024 (the Competition Authority), 21 June 2024 (the Financial Supervisory
Authority) and 24 September 2024 (the Financial Supervisory Authority and the
boards of the banks).

For further information on the Merger, please see the merger plan available on
https://www.sparebank1.no/nb/sr-bank and https://www.sparebank1.no/nb/sorost.

Contact persons:
SpareBank 1 SR-Bank ASA
Chair: Dag Mejdell, tel. +47 905 62 970
CEO: Inge Reinertsen, tel. +47 909 95 033

SpareBank 1 Sørøst-Norge
Chair: Finn Haugan, tel. +47 900 41 002
CEO: Per Halvorsen, tel. +47 934 07 441
CFO: Roar Snippen, tel. +47 976 10 360
This information is disclosed pursuant to the requirements in the Continuing
Obligations and the Securities Trading Act § 5-12.

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