DNB ASA initiating a new share buy-back programme

DNB ASA has decided to initiate a new share buy-back programme. Similarly to the share buy-back programme completed by DNB ASA on 14 August 2017, the new share buy-back programme would also comprise up to 0.5% of its registered shares, representing a total of approximately 8.1 million shares.

The share buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5% of its registered shares for purposes of enabling an optimal level of capital in the company. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum of 1.5% as approved by the annual general meeting.

Up to approximately 5.4 million of the shares comprised by the share buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34.00% remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway. The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any).

For further information, DNB ASA refers to the minutes from DNB ASA’s annual general meeting of 25 April 2017, available at www.dnb.no.

Investor contacts:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. ( 47) 23 26 84 08 / ( 47) 977 35 378

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act. This e-mail was sent to you by DNB. To unsubscribe from our mailing list, please visit www.dnb.no/en/ir

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DNB is Norway's largest financial services group and offers financial products and services, including loans and deposits, mutual funds and asset management, life insurance and pension savings, payment and financing services, real estate broking and services related to the money and capital markets.