DNB Bank ASA Announces Final Result of the Recommended Voluntary Tender Offer for Sbanken ASA

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Oslo, 17 June 2021

Reference is made to the offer document dated 23 April 2021 (the "Offer Document") and subsequent stock exchange announcements 24 May 2021, 7 June 2021 and 14 June 2021 for the recommended voluntary offer by DNB Bank ASA (the "Offeror") to acquire all outstanding shares (the "Shares") in Sbanken ASA (the "Company") not already owned by the Offeror against a consideration in cash of NOK 108.85 per Share (subject to adjustment as set out in the Offer Document) (the "Offer").

The final result shows that the Offeror received acceptances of the Offer for a total of 86,852,979 Shares, representing approximately 81.3% of the outstanding Shares and votes in the Company. In addition, the Offeror holds 10,567,419 Shares, representing approximately 9.9% of the shares and votes in the Company. Following settlement of the Offer, the Offeror will hold a total of 97,429,398 Shares in the Company, constituting approximately 91.2% of the shares and votes in the Company.

Settlement of the Offer shall take place no later than ten (10) business days after the date on which the Offeror has announced that the closing conditions for the Offer relating to “Regulatory Approvals”, as described in the Offer Document, have been fulfilled or waived by the Offeror. See Section 3.4 (Conditions for completion of the Offer) of the Offer Document for further information.

For questions regarding settlement procedures, please contact the receiving agent for the Offer, DNB Bank ASA, Registrars Department, e-mail: [e-mail].

Following settlement of the Offer, the Offeror intends to initiate a compulsory acquisition of the remaining Shares not owned by the Offeror in accordance with the Norwegian Public Limited Liability Companies Act section 4 25.

DNB Markets, a part of DNB Bank ASA is acting as financial advisor to the Offeror. Advokatfirmaet BAHR AS is the legal advisor to the Offeror in connection with the Offer. Arctic Securities AS is acting as financial advisor and Advokatfirmaet Thommessen AS is the legal advisor to the Company in connection with the Offer.

For further information, please contact the following persons in the Offeror:
Rune Helland, Head of Investor Relations, telephone [phone]
Media contact: