NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTOUSA ,AUSTRALIA ,CANADA ,JAPAN ,HONG KONG ,SWITZERLAND ORSINGAPORE , OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL, EXCEPT AS PERMITTED UNDER APPLICABLE SECURITIES LAW. Reference is made to the stock exchange announcement published on28 November 2023 by Sparebanken Sør (the "Bank"), regarding the potential stabilisation activities in respect of equity capital certificates ("ECCs") in the Bank, in connection with a sale of existing ECCs by Sparebankstiftelsen Sparebanken Sør (the "Foundation") (the "Offering").Pareto Securities AS (the "Stabilisation Manager"), acting as stabilisation manager in connection with the Offering on behalf of the Managers (as defined below), hereby gives notice that the stabilisation period initiated on28 November 2023 has now ended. No stabilisation activities have been undertaken. As described in the abovementioned stock exchange announcement stabilisation activities could have taken place until27 December 2023 , however given the positive price development of the ECCs since the completion of the Offering, the Stabilisation Manager has elected to end the stabilisation period today. In order to permit redelivery of the ECCs which were borrowed and over-allotted in the Offering, the Stabilisation Manager has today,21 December 2023 , exercised its option to purchase from the Foundation 2,100,185 ECCs in the Bank, at the offer price in the Offering ofNOK 125.00 per ECCs (the "Offer Price "). As a consequence of the above, the Foundation will today, outside a trading venue, sell 2,100,185 ECCs at the Offer Price and retain 10,925,765 ECCs, equivalent to approx. 26.2% of the outstanding ECCs in the Bank (whereby 332,730 ECCs are kept in order to fulfil the maximum obligation to distribute bonus ECCs). Following this, and assuming full distribution of the 332,730 bonus ECCs conditionally awarded to the applicants in the retail offering, the free float of the Bank's ECCs is 74.6%. Reference is made to the prospectus dated20 November 2023 issued in connection with the Offering for further details. Advisors:Pareto Securities AS andSwedbank AB (publ), in cooperation withKepler Cheuvreux , are acting as Joint Global Coordinators and Joint Bookrunners, and Norne Securities AS is acting as Joint Bokrunner (jointly referred to as the "Managers").Advokatfirmaet Selmer AS is acting as legal advisor to the Bank and the Foundation.Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers. For further information, please contact:Pareto Securities AS Martin Øberg Sjøstedt Tel: +47 22 87 87 14 This information is published in accordance with the disclosure requirements pursuant to article 6 no. 3 and article 8 (f) of Commission Delegated Regulation (EU) 2016/1052. IMPORTANT NOTICE The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. Neither of the Managers (Pareto Securities AS ,Swedbank AB (publ), in cooperation withKepler Cheuvreux , andNorne Securities AS) nor any of their respective affiliates nor any of their respective directors, officers, employees, advisors or agents accept any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Sparebanken Sør (the "Company"), its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. This announcement has been prepared by and is the sole responsibility of the Company and Sparebankstiftelsen Sparebanken Sør (the "Foundation"). Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or fromthe United States (including its territories and possessions, anyState of the United States and theDistrict of Columbia ),Australia ,Canada ,Japan ,Hong Kong ,Switzerland ,Singapore or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons that attain possession of any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not contain or constitute an offer to sell or a solicitation of any offer to buy or subscribe for any securities referred to in this announcement to any person in any jurisdiction, includingthe United States ,Australia ,Canada ,Japan ,Hong Kong orSwitzerland ,Singapore or any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to in this announcement have not been and will not be registered under theU.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold inthe United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of theU.S. Securities Act and in accordance with applicableU.S. state securities laws. Neither the Company nor the Foundation does intend to register any securities referred to herein inthe United States or to conduct a public offering of securities inthe United States . Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of the EU Prospectus Regulation ("Prospectus Regulation"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus. Copies of any such prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the website of the Company. In any EEA Member State other thanNorway that has implemented the Prospectus Regulation, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive ("Qualified Investors "), i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. This communication is only being distributed to and is only directed at persons in theUnited Kingdom that areQualified Investors and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. The Managers and their affiliates are acting exclusively for the Company and the Foundation and no-one else in connection with the intended offering. They will not regard any other person as their respective clients in relation to the intended offering and will not be responsible to anyone other than the Foundation and the Company for providing the protections afforded to their respective clients, or for providing advice in relation to the intended offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein. In connection with the contemplated offering, the Managers and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such equity capital certificates and other securities of the Company or related investments in connection with the contemplated offering or otherwise. Accordingly, references in any prospectus, if published, to the equity capital certificates being offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, such Managers and any of their affiliates acting as investors for their own accounts. The Managers do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "aims", "expect", "anticipate", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company and the Foundation believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. The Foundation, the Company, each of the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise. The offering may be influenced by a range of circumstances, such as market conditions, and there is no guarantee that the offering will proceed. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice.
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