SAVINGS PROGRAMME FOR EMPLOYEES

Reference is made to the stock exchange announcement of 14 March 2019 regarding the introduction of a share saving programme for employees in SpareBank 1 SR-Bank. The purpose of the programme is to motivate employees to become co-owners of the bank and at the same time to enhance interest in the bank’s strategy and results. The Board of Directors of SpareBank 1 SR-Bank have decided to continue the scheme in 2021. Employees are invited to save a fixed amount per month to buy shares in the bank. Employees who register for the savings programme can choose to purchasing shares amounting to NOK 6,000, NOK 12,000, NOK 24,000 or NOK 36,000 for the period January to December 2021. The total amount the individual chooses to save in 2021 will be distributed in equal instalments over 12 months and will be paid through monthly salary deductions. SpareBank 1 SR-Bank will purchase shares on behalf of the employees who participate in the savings programme. The bank will give the employees a 30% discount on the average purchase price. The employees must agree to a two-year binding commitment period for the shares.

SpareBank 1 SR-Bank aims to purchase shares in the market each quarter on the day or the days following submission of the results for the 1st, 2nd and 3rd quarters of 2021 respectively, and in the beginning of December 2021. The purchase price and number of shares acquired by the bank will be reported in accordance with applicable regulations. See the table below for a summary of the primary insiders at SpareBank 1 SR-Bank who have registered for the 2021 equity savings programme. The amounts stated are the total amounts for 2021 for which the individual has subscribed. The number of shares allocated to individual primary insiders under the savings programme will be announced at the times for resale of the shares to the employees.