DNB Bank ASA

M&A Activity • Sep 14, 2022

DNB Bank ASA - Merger with Sbanken ASA

DNB Bank ASA - Merger with Sbanken ASA

The Boards of Directors of DNB Bank ASA ('DNB') and Sbanken ASA ('Sbanken') have

today signed a merger plan for the merger of Sbanken into DNB. Sbanken is a

wholly-owned subsidiary of DNB, and the merger will be completed in accordance

with the provisions as set out in Section 13-24 of the Norwegian Public Limited

Liability Companies Act, cf. Section 12-1 of the Norwegian Financial

Institutions Act.

The merger will be carried out by Sbanken transferring all its business,

including all assets, rights and obligations, to DNB as the acquiring company in

the merger. No merger consideration will be paid.

The purpose of the merger is to fulfil the conditions set out in the Ministry of

Finance's acquisition permit of 1 July 2021, whereby DNB has been granted a

temporary permission to operate Sbanken as a subsidiary.  The implementation of

the merger is conditional upon inter alia Finanstilsynet or the Ministry of

Finance granting the necessary permissions to implement the merger in accordance

with section 12-1 of the Financial Institutions Act.

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

under Section 5-12 of the Securities Trading Act.