Reference is made to the stock exchange notice published on 3 January 2024
regarding the letter of intent for the merger of SpareBank 1 Østlandet and
Totens Sparebank.

The banks' boards have today approved a plan for merging the banks (merger
plan). The merger plan aligns with what was communicated in the stock exchange
notice on 3 January 2024.

SpareBank 1 Østlandet will be the legal and accounting acquiring bank, and will
thus acquire all of the assets, rights and obligations in Totens Sparebank at
the completion of the merger. The merged bank will continue under the name
SpareBank 1 Østlandet.

The overarching goal of the merged bank is to be an even better bank for the
Inland region, based on solid competence from both banks. A merged bank will
have a stronger position facing increased competition and continuously
increasing regulatory requirements. With a strengthened local presence, the
merged bank will be attractive for customers, employees, owners and society.

Based on figures from the accounts as of 30 September 2023, SpareBank 1
Østlandet will after the merger have:
o	Assets under management of approx. NOK 196 billion and total assets (including
transfers to covered bond companies) of approx. NOK 264 billion
o	Equity of approx. NOK 22.4 billion 
o	CET1 capital of 17.8 per cent

Timetable and prerequisites for implementation 
The boards of the two banks will now present the proposed merger to the
supervisory board and the general meeting of the banks respectively. The
completion of the merger is, among other things, conditional on the supervisory
board and the general meeting in the two banks making the necessary resolutions
at meetings on 22 February 2024, and necessary supervisory authorities'
approvals being granted without conditions or on terms that do not significantly
change the assumptions the banks have made as a basis for the merger.

The aim is to complete the merger during the third quarter of 2024.

Advisors
SpareBank 1 Østlandet has engaged SpareBank 1 Markets AS as financial adviser
and Advokatfirmaet Selmer AS as legal adviser in connection with the merger.
Totens Sparebank has engaged ABG Sundal Collier ASA as financial adviser and
Advokatfirmaet BAHR AS as legal adviser.

Contact Information:

Totens Sparebank:
Chair of the board: Geir Stenseth: tel. + 47 930 39 707
CEO: Rolf Endre Delingsrud, tel. + 47 917 28 668
Deputy CEO: Stig Håvard Blikseth, tel. + 47 958 64 601
CFO: Johan Øverseth Røstøen, tel. + 47 916 07 741

SpareBank 1 Østlandet:
Chair of the board: Siri J. Strømmevold, tel. + 47 414 44 712
CEO: Richard Heiberg, tel. + 47 902 06 018
CFO: Geir-Egil Bolstad, tel. + 47 918 82 071
Head of Investor Relations: Bjørn-Erik R. Orskaug, tel. + 47 922 39 185

The above information is subject to the requirements of announcement pursuant to
the Securities Trading Act section 5-12.

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© Oslo Bors ASA, source Oslo Stock Exchange