Sparebanken Norge chooses Tietoevry Banking as long-term strategic partner

07 Apr 2025 11:40 CEST

Sparebanken Vest, which on 2 May 2025 will merge with Sparebanken Sør to form
Sparebanken Norge, announces today that the bank has entered into a long-term
and strategic partnership agreement with Tietoevry Banking, the leading provider
of modern core banking systems and related services for banks in Norway. The
agreement has a duration of five years from 1 January 2027, after which
Sparebanken Norge has two sequential options to extend of two years each.

- Sparebanken Norge has a goal to consolidate its position as the most
cost-effective bank in Norway. The agreement with Tietoevry Banking forms a
solid foundation for succeeding in this goal and is also an important step in
the bank's work to develop the best customer experiences for the bank's 743,000
customers, says incoming CEO of Sparebanken Norge, Jan Erik Kjerpeseth.

- Tietoevry Banking has won the agreement with Sparebanken Norge in competition
with the Danish company SDC/Netcompany Banking Services. The agreement has been
entered into on competitive terms. This ensures Sparebanken Norge access to a
modern banking platform that, together with the bank's strong and
customer-oriented development environment, will improve the customer experience
and streamline the bank's operations, says Jon Erik Solheim, CIO at Sparebanken
Vest.

- We believe that a strong and long-term partnership, together with a strong
development environment in our own bank, is the path to low complexity, good
digital customer experiences and high cost-efficiency. The potential for
strengthened cooperation has been made clear through a professional and thorough
negotiation process to reach this strategically important agreement, says Jan
Veikko Granroth, Executive Vice President Business Development at Sparebanken
Sør.

The negotiations over the past six months have been conducted jointly in
Frendegruppen, based on a common business volume in the collaboration. In this
process, Frendegruppen has succeeded in negotiating two very attractive offers
from two forward-looking suppliers in accordance with an ambitious progress
plan. Sparebanken Norge and Lokalbanksamarbeidet are independent contractual
counterparts in the current offers. When it comes to the decision-making process
itself, the banks have somewhat different timelines. Pending final board
approval, Sparebanken Norge is informing about its decision now to ensure that
the timeline for technical merger in 2026 is maintained. Lokalbanksamarbeidet
and the 16 banks naturally have a somewhat more extensive decision-making
process and will make their choice by the end of May 2025.

- We are very pleased to have Tietoevry Banking as a strategic partner for
Sparebanken Norge. This agreement gives us the opportunity to strengthen our
digital capacity and offer even better services to our customers. We look
forward to a strengthened collaboration where both Sparebanken Norge and
Tietoevry Banking can capitalize on their strengths and develop a strategic
partnership where we together create value for our customers, society, employees
and owners, says Jan Erik Kjerpeseth.

Tietoevry Banking shares Sparebanken Norge's vision of driving innovation and
customer-oriented growth in the banking sector:
- We are proud to be chosen as a strategic partner by Sparebanken Norge and look
forward to working closely with the bank to deliver solutions that meet the
needs of the future, says Endre Rangnes, CEO of Tietoevry Banking.

For further information, please contact:
Jan Erik Kjerpeseth, CEO, tel.: (+47) 951 98 430
Jon Erik Solheim, CIO Sparebanken Vest, tel.: (+47) 934 67 568
Jan Veikko Granroth, EVP Business Development at Sparebanken Sør, tel.: (+47)
480 49 408
Brede Borgen Kristiansen, Director Finance and Investor Relations, tel.: (+47)
479 06 402

This information is subject to a duty of disclosure pursuant to the Securities
Trading Act Section 5-12.

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