DNB Bank ASA

Major Shareholding Notification • Apr 16, 2021

Update on the recommended voluntary cash offer by DNB Bank ASA for Sbanken ASA at NOK 103.85 per share

Update on the recommended voluntary cash offer by DNB Bank ASA for Sbanken ASA at NOK 103.85 per share

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW ZEALAND, SOUTH-AFRICA, HONG

KONG, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD

BE UNLAWFUL

Oslo, 16 April 2021 - Reference is made to the announcement on 15 April 2021

that DNB ASA's wholly owned subsidiary DNB Bank ASA ("DNB") had reached an

agreement with Sbanken ASA ("Sbanken" or the "Company") to launch a recommended

voluntary cash tender offer (the "Offer") for 100% of the shares of the Company

for NOK 103.85 per share.

DNB has today purchased 2,096,165 shares in the Company and consequently owns

10,103,363 shares in the Company, representing 9.5% of the outstanding shares

and votes in the Company. As a result of the share purchases made since

announcement of the Offer, the level of pre-acceptances from shareholders of the

Company for the Offer is now 25.0% of the outstanding shares in the Company, on

the terms described in the announcement from DNB on 15 April 2021 in connection

with the Offer.

Contacts

Rune Helland, Head of Investor Relations, telephone +47 97 71 32 50

Media contact: Thomas Midteide, GEVP Communications & Sustainability: +47 96 23

20 17