DNB Bank ASA

Capital/Financing Update • May 2, 2023

DNB Bank ASA - Completion of the merger with Sbanken and transfer of debtor positions under existing bonds

DNB Bank ASA - Completion of the merger with Sbanken and transfer of debtor positions under existing bonds

Reference is made to the previous stock exchange notices published by DNB Bank

ASA ("DNB") with respect to the merger with DNBs wholly owned subsidiary Sbanken

ASA ("Sbanken"), including the stock exchange notice dated 10 November 2022,

where DNB announced that the Board of Directors of both DNB and Sbanken have

approved the merger plan.

The merger has today been registered in the Norwegian Registry of Business

Enterprises and is, consequently, effective in accordance with section 13-17,

cf. section 13-24 of the Norwegian Public Limited Companies Act.  DNB has

assumed all assets, rights and obligations of Sbanken, and Sbanken has

simultaneously been dissolved.

The merger has been executed without merger consideration and DNB's share

capital remains unaffected.

With effect from today, 2 May 2023, DNB will assume the position as debtor under

the following bonds previously issued by Sbanken:

+------------+-----------+-------------------------------------+

|ISIN |Ticker |Name |

+------------+-----------+-------------------------------------+

| | | |

+------------+-----------+-------------------------------------+

|NO0011203598|SBANK30 PRO|Sbanken ASA 22/32 FRN C SUB |

+------------+-----------+-------------------------------------+

|NO0011204125|SBANK31 PRO|Sbanken ASA 22/PERP FRN C HYBRID |

+------------+-----------+-------------------------------------+

|NO0011087595|SBANK29 PRO|Sbanken ASA 21/27 ADJ C |

+------------+-----------+-------------------------------------+

|NO0011087587|SBANK28 PRO|Sbanken ASA 21/25 FRN C |

+------------+-----------+-------------------------------------+

|NO0010920762|SBANK27 PRO|Sbanken ASA 21/24 FRN |

+------------+-----------+-------------------------------------+

|NO0010895519|SBANK26 PRO|Sbanken ASA 20/24 FRN |

+------------+-----------+-------------------------------------+

|NO0010891914|SBANK25 PRO|Sbanken ASA 20/PERP FRN C HYBRID |

+------------+-----------+-------------------------------------+

|NO0010891922|SBANK24 PRO|Sbanken ASA 20/30 FRN C SUB |

+------------+-----------+-------------------------------------+

|NO0010886757|SBANK23 PRO|Sbanken ASA 20/23 FRN |

+------------+-----------+-------------------------------------+

|NO0010885205|SBANK22 PRO|Sbanken ASA 20/PERP FRN STEP C HYBRID|

+------------+-----------+-------------------------------------+

|NO0010885197|SBANK21 PRO|Sbanken ASA 20/30 FRN C SUB |

+------------+-----------+-------------------------------------+

|NO0010871494|SBANK19 PRO|Sbanken ASA 19/PERP FRN C HYBRID |

+------------+-----------+-------------------------------------+

|NO0010871502|SBANK18 PRO|Sbanken ASA 19/29 FRN C SUB |

+------------+-----------+-------------------------------------+

|NO0010847213|SBANK16 PRO|Sbanken ASA 19/PERP FRN C HYBRID |

+------------+-----------+-------------------------------------+

|NO0010847205|SBANK15 PRO|Sbanken ASA 19/29 FRN C SUB |

+------------+-----------+-------------------------------------+

The ticker on the bonds listed above will be amended from SBANK to DNBA.

For further information, please contact:

Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71

32 50

The information in this statement is subject to the disclosure requirements

pursuant to Oslo Stock Exchange's continuing obligations.