SpareBank 1 SR-Bank ASA (SRBANK); Introducing savings programme for employees

The Board of SpareBank 1 SR-Bank has decided to establish an equity savings programme for employees. The purpose of the programme is to motivate employees to become co-owners of the bank and also to raise interest concerning the bank’s strategy and results.

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 subscribe to shares corresponding to either NOK 4,500, NOK 9,000, NOK 18,000 or NOK 27,000 in total for the period from April to December 2019. The savings amount the individual chooses to save in 2019 will be shared equally over 9 months and will be paid through monthly salary deductions. SpareBank 1 SR-Bank will purchase shares on behalf of the employees who take part in the savings programme. The bank will give the employees a 30% discount on the average purchase price. The employees must agree to a 2-year tie-in period for the shares. SpareBank 1 SR-Bank aims to purchase shares in the market each quarter on the day or the days after presentation of the results for the 1st, 2nd and 3rd quarters of 2019 respectively, and in the beginning of December 2019. 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 2019 equity savings programme. The amounts stated are the total amounts for 2019 the individual has subscribed for. 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.

Name;                                        Registered for amount (NOK);

Arne Austreid                                                                 27.000

Ella Skjørestad                                                               27.000

Frode Bø                                                                        18.000

Glenn Sæther                                                                 27.000

Gro Tveit                                                                         27.000

Inge Reinertsen                                                               27.000

Inger Ulrikke Bentsen                                                      27.000

Jan Friestad                                                                     27.000

Kjersti Espeset Lie                                                           27.000

Kjetil Skjæveland                                                             27.000

Kristian Kristensen                                                           18.000

Nils Mikal Hegrestad                                                        27.000

Sally Lund-Andersen                                                        18.000

Seri Berge                                                                         27.000

Signe Helliesen                                                                 27.000

Stian Helgøy                                                                      27.000

Thor-Christian Haugland                                                    27.000

Tore Medhus                                                                      27.000

Øystein Gilje                                                                       27.000

Stavanger, 14 March 2019

Inge Reinertsen, CFO, Tel. +47 909 95 033
Stian Helgøy, Vice President Investor Relations, Tel. +47 906 52 173

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

About Us

SpareBank 1 SR-Bank is Norway’s second largest savings bank and operates in the Rogaland, Agder and Hordaland markets. We provide financial products and services, including loans and deposits, mutual funds and asset management, insurance and pension savings, payment and financing services, real estate brokerage and services related to the money and capital market. The head office is in Stavanger.