Reference is made to the stock exchange notice published on3 January 2024 regarding the letter of intent for the merger ofSpareBank 1 Østlandet andTotens 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 on3 January 2024 .SpareBank 1 Østlandet will be the legal and accounting acquiring bank, and will thus acquire all of the assets, rights and obligations inTotens Sparebank at the completion of the merger. The merged bank will continue under the nameSpareBank 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 of30 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 on22 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. AdvisorsSpareBank 1 Østlandet has engagedSpareBank 1 Markets AS as financial adviser andAdvokatfirmaet Selmer AS as legal adviser in connection with the merger.Totens Sparebank has engagedABG Sundal Collier ASA as financial adviser andAdvokatfirmaet 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 741SpareBank 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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