BRAbank ASA: BRA-ME - New BRAbank ASA enters into agreement with Stacc AS

Related to the merger between Easybank ASA (EASY-NOTC) and BRAbank ASA (BRA-ME), an agreement with Stacc AS have been agreed, that stipulate that certain intellectual property relating to Application management system, Internet banking and credit card applications developed by BRAbank, is transferred to Stacc AS. The intention is that Stacc AS will further develop and commercialize the systems in question. The agreement ensures that the merged company (New BRAbank) receives a share of future commercial income related to the systems developed by BRAbank. Stacc AS will establish a subsidiary to focus on the development and commercialization of the transferred intellectual properties.

In addition, a development and maintenance agreement with Stacc AS have been entered into.

The agreement will be activated as part of the merger, pending relevant authority approvals.

Stacc AS, based in Bergen Norway, is a finance technology company with about 80 employees, delivering modern, innovative and flexible systems to a wide range of banks and finance companies in the Nordic region. Stacc AS is already a key IT-supplier, both to BRAbank and Easybank.

Quotes:

Oddbjørn Berentsen, CEO Easybank and appointed CEO New BRAbank ASA:

"This agreement with Stacc AS ensures that systems developed by BRAbank will be further developed and commercialized by a leading fintech supplier and providing BRAbank ample development and maintenance capabilities in the future."

Henrik Lie-Nielsen, Chairman of the board, Stacc AS:

" Our ambitions for further development of the new subsidiary in Stacc AS are great. The agreement with BRAbank further strengthens our business in futureproof IT solutions for banks and finance companies, and the new subsidiary will have a number of synergies with the current products and services portfolio in Stacc."

For further information contact:

Oddbjørn Berentsen, Chief Executive Officer, Easybank ASA, phone: +47 924 66 688

Hans Ljøen, Chief Executive Officer, BRAbank ASA, phone: +47 481 87 750

Henrik Lie-Nielsen, Chairman of the board, Stacc AS, phone: +47 924 04 152

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