DNB Bank ASA

DNB Bank ASA shall buy back up to 0.75 percent of the company's own shares

DNB Bank ASA has decided to initiate a share buy-back programme comprising up to

0.75 percent of the company's own shares, which represents a total of 11,569,599

shares. The buy-back programme was adopted based on an authorisation given by

the Annual General Meeting held on 25 April 2023. The Financial Supervisory

Authority of Norway has approved the buy-back programme, on the condition that

the total buy-backs do not reduce the company's own funds by more than NOK 2.5

billion.

The purpose of the buy-back programme is to optimise the company's capital

structure, by reducing the common equity tier 1 (CET1) capital ratio by

approximately 0.20 percentage points.

Up to 0.495 percent of the company's own shares, which equals 7,635,935 shares,

will be bought back on trading venues, at a price of between NOK 10 and NOK 300

per share. The buy-backs will, at the latest, end on 8 March 2024. DNB Markets

will manage the buy-backs on behalf of the company, and will decide the timing

of the purchases independently of the company. The shares that are purchased

will be proposed cancelled at the Annual General Meeting in 2024.

The remaining 0.255 percent of the shares - up to 3,933,664 shares - will at the

same Annual General Meeting be proposed redeemed from the Norwegian Government,

represented by the Ministry of Trade, Industry and Fisheries ("NFD"), so that

NFD's ownership interest of 34 percent remains unchanged. NFD's shares will be

redeemed at a price equal to the average price of the shares bought back on

trading venues, with the addition of an interest compensation.

The buy-back programme will be carried out in accordance with the Market Abuse

Regulation and the regulation regarding buy-back programmes and stabilisation

measures.

The company already owns 1.65 percent of its own shares, which were purchased

under the two buy-back programmes carried out between 17 July and 18 October

2023, and between 19 October and 21 December 2023. All these shares will be

proposed cancelled at the Annual General Meeting in 2024. Additionally, 0.85

percent of the shares in the company will be proposed redeemed from NFD.

For further information, please contact Rune Helland, Head of Investor

Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure

requirements pursuant to the Market Abuse Regulation and section 5-12 of the

Norwegian Securities Trading Act.

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