The Norwegian Financial Supervisory Authority has approved the merger between Oslofjord Sparebank and Sparebanken Norge

10 Nov 2025 19:30 CET

Reference is made to the stock exchange notices dated 16 June 2025 stating that
the Supervisory Board of Oslofjord Sparebank and the General Meeting of
Sparebanken Norge have approved the merger of the two banks, as well as the
notice dated 25 July 2025 stating that the Norwegian Competition Authority has
cleared the transaction.

On 10 November 2025, the Financial Supervisory Authority of Norway
(Finanstilsynet) has granted the necessary permits to carry out the merger
between Oslofjord Sparebank and Sparebanken Norge in accordance with the
decisions made by the banks' General Meeting / Supervisory Board on 16 June
2025.

The license is granted on the condition that Sparebanken Norge shall have a
capital requirement (pillar 2 requirement) that constitutes 1.6 percentage
points over the minimum pilar 1 requirement and the applicable buffer
requirements. The requirement shall be met with a minimum of 56.25 percent
common equity tier 1 capital and at least 75 percent core capital (Tier 1). The
requirement shall apply at a consolidated level, including proportionate
consolidation of undertakings in a cooperating group. The same requirement
currently applies to Sparebanken Norge.

Sparebanken Norge shall have a capital requirement margin (pillar 2 guidance)
that constitutes at least 1.0 percent of the risk-weighted assets. The pillar 2
guidance shall be met with common equity tier 1 capital. The pillar 2 guidance
has been reduced by 0.1 percentage points compared to the current requirement.

The Financial Supervisory Authority of Norway has also granted the necessary
authorisations for the establishment of Sparebankstiftelsen Oslofjord, which
will be established by the Board of Directors in Oslofjord Sparebank in
connection with the completion of the merger.

The planned completion date for the merger is 1 December 2025.

Contact persons:
Sparebanken Norge
Jan Erik Kjerpeseth, CEO, tel. +47 951 98 430
Hans Olav Ingdal, CFO, tel. +47 948 09 328
Brede Borgen Kristiansen, Director of Finance and Investor Relations, tel. +47
479 06 402
Hanne Dankertsen, Director of Communications, tel. +47 994 49 173

Oslofjord Sparebank
Bjørn-Erik Øverland, CEO, tel. +47 900 44 754

This information is disclosed pursuant to the requirements in the continuing
obligations for companies listed on Euronext Oslo Børs and the Securities
Trading Act section 5-12.

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