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BRAbank ASA: BRA-ME - The Financial Supervisory Authority approves the merger between Easybank ASA and BRAbank ASA

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Reference is made to prior announcements regarding the merger between Easybank ASA (Easybank) and BRAbank ASA (BRAbank) approved by the companies' extraordinary general meetings 16 July 2020, with the intent to create a leading digital niche bank in B2C and SME with a Nordic footprint.

Easybank and BRAbank are pleased to announce that the Financial Supervisory Authority of Norway (Finanstilsynet) has approved the merger, enabling formal completion by 1 October 2020, as previously communicated.

The Pillar II requirement for the merged bank has been set to 6.5%, subject to a renewed assessment in the SREP review in 2022.

Easybank's CEO Oddbjørn Berentsen will continue as CEO for the combined bank, which will be named BRAbank ASA and headquartered in Oslo. Easybank's Chairman Svein Lindbak will be appointed Chairman for the combined bank, and BRAbank's Chairman Viggo Leisner will continue as Vice Chairman.

For further information contact:

Oddbjørn Berentsen, Chief Executive Officer at Easybank, phone: +47 22 99 14 00, ir@easybank.no

Viggo Leisner, Chairman of the Board BRAbank, phone: +47 920 69 998

This information is subject to the disclosure requirements pursuant to section 3.1.1 of the continuing obligations for companies admitted to trading on Merkur Market.

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