Morrow Bank AB (publ): The Swedish Financial Supervisory Authority approves the acquisition of MedMera Bank AB

26 May 2026 07:00 CEST

Morrow Bank AB (publ) ("Morrow Bank or the Bank") announces that the Swedish
Financial Supervisory Authority (Finansinspektionen) has granted the
regulatory approvals required for the Bank's acquisition of all shares in
MedMera Bank AB ("MedMera Bank").

The share purchase agreement was entered into with Kooperativa Förbundet
ekonomisk förening ("KF") on 24 March 2026.

"We are very pleased that the Swedish Financial Supervisory Authority has
approved the acquisition of MedMera Bank," said Øyvind Oanes, CEO of Morrow
Bank. "This transaction represents an important strategic step for Morrow Bank
and strengthens our position in the Nordic market. By combining our
businesses, we are creating an even stronger base for offering attractive and
innovative financial solutions to our customers."

Finansinspektionen issued two decisions on 25 May 2026:

Ownership assessment (Chapter 14 of the Swedish Banking and Financing Business
Act (2004:297), the "BFBA"):
Approval for Morrow Bank to directly acquire a holding corresponding to or
exceeding 50% of the capital and votes in MedMera Bank. At the same time,
Finansinspektionen has approved indirect acquisitions of 20--30% of the
capital and votes in MedMera Bank by Morrow Bank's largest shareholder
Kistefos AS, as well as by AS Holding and Christen Sveaas.

Approval of the share acquisition (Chapter 7, Section 12 of the BFBA):
Approval for Morrow Bank to complete the acquisition in accordance with its
application, as the consideration exceeds 25% of the Bank's own funds.

The consideration consists of a cash component to KF and the issuance of new
shares in Morrow Bank to KF, in line with what has previously been
communicated.

Pursuant to these decisions, the acquisition shall be completed within three
months, i.e. no later than 25 August 2026. Closing is expected to take place
in July 2026, subject to the fulfilment of other customary closing conditions.
Following completion of the acquisition, MedMera Bank will form part of Morrow
Bank's consolidated situation.

For more information, please contact:
Øyvind Oanes, CEO
Tel: +47 98 90 60 60
Email: ir@morrowbank.com

About Morrow Bank
Morrow Bank is a Nordic consumer finance bank offering digital and flexible
financing solutions to creditworthy individuals in Norway, Sweden and Finland.
The bank offers consumer loans, credit cards and high-yield deposit accounts,
supported by a modern and scalable banking platform.

More information:
Access the news on Oslo Bors NewsWeb site

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