SpareBank 1 SR-Bank ASA; Share savings programme/buyback programme

Reference is made to the stock exchange announcement of 14 March 2019 regarding the introduction of a share savings programme for employees of 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 2022. Employees are invited to save a fixed amount per month to buy shares in the bank. Employees who have registered for the savings programme can choose between purchasing shares amounting to NOK 6,000, NOK 12,000, NOK 24,000 or NOK 36,000 in total for the period January to December 2022. The total amount the individual employee chooses to save in 2022 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 on the market each quarter on the day or the days following presentation of the results for the first, second and third quarters of 2022 respectively, and in mid-December 2022. The purchase price and number of shares acquired by the bank will be reported in accordance with applicable regulations. The first two buybacks are based on the authorisation granted to the Board of Directors of SpareBank 1 SR-Bank at the General Meeting of 28 April 2021. The Board of Directors will ask the General Meeting for new authorisation for share buybacks at the Annual General Meeting of 28 April 2022. 72 % of the employees have subscribed for the share savings programme for 2022. In total, SpareBank 1 SR-Bank will need to buy back shares totalling NOK 36 888 000 in 2022. According to the authorisation granted by the General Meeting, the lowest price that can be paid for a share is NOK 1.00 and the highest price is NOK 150.00. SpareBank 1 SR-Bank has authorised SpareBank 1 Markets to carry out the buybacks.

See the enclosed summary of the primary insiders at SpareBank 1 SR-Bank who have registered for the 2022 share savings programme. The amounts stated are the total amounts for 2022 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 of resale of the shares to the employees.

This information is disclosed in compliance with section 5-12 of the Securities Trading Act.