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Update on the recommended voluntary cash offer by DNB Bank ASA for Sbanken ASA at NOK 103.85 per share

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Oslo, 16 April 2021 – Reference is made to the announcement on 15 April 2021 that DNB ASA’s wholly owned subsidiary DNB Bank ASA ("DNB”) had reached an agreement with Sbanken ASA ("Sbanken" or the "Company") to launch a recommended voluntary cash tender offer (the "Offer") for 100% of the shares of the Company for NOK 103.85 per share.

DNB has today purchased 2,096,165 shares in the Company and consequently owns 10,103,363 shares in the Company, representing 9.5% of the outstanding shares and votes in the Company. As a result of the share purchases made since announcement of the Offer, the level of pre-acceptances from shareholders of the Company for the Offer is now 25.0% of the outstanding shares in the Company, on the terms described in the announcement from DNB on 15 April 2021 in connection with the Offer.

Contacts

Rune Helland, Head of Investor Relations, telephone +47 97 71 32 50 

Media contact: Thomas Midteide, GEVP Communications & Sustainability: +47 96 23 20 17