Reference is made to the stock exchange notice dated5 December 2023 stating that the General Meeting inSpareBank 1 SR-Bank ASA and the Supervisory Board in SpareBank 1 Sørøst-Norge have approved the merger of the two banks, as well as the notice dated17 April 2024 stating that theNorwegian Competition Authority has cleared the transaction. On20 June 2024 , theFinancial Supervisory Authority of Norway (Finanstilsynet) granted the necessary permits to carry out the merger betweenSpareBank 1 SR-Bank ASA and SpareBank 1 Sørøst-Norge in accordance with the decisions made by the banks' General Meeting/Supervisory Board on5 December 2023 . The permits were granted on certain conditions, including the following: (i) Sparebankstiftelsen SR-Bank, SpareBank 1Stiftelsen BV , and Sparebankstiftelsen Telemark must at all times have a combined ownership stake in the merged bank that is equal to or higher than 33.4 percent of the share capital and voting rights in the bank. (ii) The merged bank (SpareBank 1 Sør-Norge ASA) will continue its savings bank operations with local presence in Telemark, Vestfold, Buskerud, and Rogaland. (iii) After the merger, and until theFinancial Supervisory Authority has determined new pillar 2 requirements, the merged bank (SpareBank 1 Sør-Norge ASA) will have an increased capital requirement (pillar 2 requirement) of 1.9 percentage points of the consolidated risk weighted assets according to the Financial Institutions Act § 14-2, in addition to the temporary surcharge of 0.5 percentage points for the IRB portfolio ofSpareBank 1 SR-Bank ASA . The merged bank (SpareBank 1 Sør-Norge ASA) will have a capital requirement margin of 1.25 percent. Certain additional conditions were also imposed. Of the authority approvals, tax relief from the Ministry of Finance and final approval from theNorwegian Financial Supervisory Authority of the necessary changes to the articles of association of the owner foundations remain. The planned implementation date is still1 October 2024 . Contact persons:SpareBank 1 SR-Bank ASA CEO: Benedicte Schilbred Fasmer, tel. +47 950 60 034 CFO:Inge Reinertsen , tel. +47 909 95 033 Financial director:Morten Forgaard , tel. +47 916 21 425 SpareBank 1 Sørøst-Norge CEO: Per Halvorsen, tel. +47 934 07 441 CFO:Roar Snippen , tel. +47 976 10 360 Head of treasury: Mona Storbrua, tel. +47 916 39 833
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