SpareBank 1 Sørøst-Norge

Capital/Financing Update • May 15, 2023

SpareBank 1 Sørøst-Norge: Contemplating issuance of Tier 2 bonds and buy-back

SpareBank 1 Sørøst-Norge: Contemplating issuance of Tier 2 bonds and buy-back

SpareBank 1 Sørøst-Norge (Issuer rating A1 / Stable by Moody’s) has mandated DNB Markets as Sole Manager for a potential issuance of a new dated Tier 2 bond issue with a volume of up to NOK 200 million, subject to market conditions.

The Tier 2 bond issue will have a first call option for the issuer minimum 5 years after the issue date, subject to an approval from the Financial Supervisory Authority of Norway, if required.

In conjunction with the new issue, the bank will consider buy-back, in whole or parts, of the outstanding Tier 2 bond issues with ISN NO0010823412 (SOON18 PRO) and NO0010830508 (SOON19 PRO). Any buy-back volume will be limited to the new issuance volume.

The contemplated issuance has been approved by the bank's General Meeting, and the Financial Supervisory Authority of Norway has approved the redemption/buy-back of SOON18 PRO and SOON19 PRO.

Sandefjord, 15 May 2023

Contact persons in SpareBank 1 Sørøst-Norge:

CFO/IR Roar Snippen, telephone +47 976 10 360.

Head of Finance Mona Storbrua, telephone +47 916 39 833.

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