DNB Bank ASA

Transaction in Own Shares • Dec 12, 2019

DNB ASA increases the size of its share buy-back programme

DNB ASA increases the size of its share buy-back programme

On 24 October 2019, DNB ASA initiated a buy-back programme comprising up to 0.5

per cent of the shares in the company, representing a total of 7 901 506 shares.

DNB ASA expanded the buy-back program on 20 November 2019, thereby comprising up

to a total of 1.0 per cent of the company's shares, representing a total of 15

803 014 shares.

DNB ASA has now decided to increase the number of shares that can be purchased

under the buy-back programme, thereby comprising up to a total of 1.5 per

cent of the company's shares, representing a total of 23 704 521 shares. The

decision is made following the announcement by the Ministry of Finance on 5 and

11 December that CRDIV/CRR will be implemented in Norway with effect from 31

December 2019. The announcement provides additional clarity regarding future

capital requirements.

Other than with respect to the increase of the total number of shares that can

be purchased, the buy-back programme will be carried out as communicated in the

Oslo Stock Exchange notification made on 24 October 2019 (available at

www.newsweb.no).

The share buy-back programme is based on an authorization given by DNB ASA's

annual general meeting on 30 April 2019 and an approval given by the Financial

Supervisory Authority of Norway on 27 June 2019. The authorization from the

general meeting will be valid for a period of 12 months from the date of the

general meeting.

In accordance with the authorization from the general meeting, the shares shall

be purchased at a price between NOK 10 and NOK 250 per share. The buy-back

programme will, at the latest, be completed by the end of March 2020.

Up to approximately 15.6 million of the shares will be repurchased in the open

market. As of today, DNB ASA has repurchased approximately 7.8 million

shares. In accordance with an agreement between DNB ASA and the state of Norway

through the Ministry of Trade, Industry and Fisheries, a proportionate amount of

shares will be redeemed from the state of Norway, so that its current ownership

interest in DNB ASA of 34 % remains unaffected following completion of the buy

-back programme.

DNB ASA will seek approval from the annual general meeting in 2020 for

cancellation of the repurchased shares and redemption of shares owned by the

state of Norway. The redemption of shares shall be made against a payment which

shall correspond to an average volume weighted price of DNB ASA's repurchase of

shares in the open market as a part of the buy-back programme, including an

interest compensation and an agreed adjustment for any dividend paid on the

redemption shares in the buy-back period.

For further information, DNB ASA refers to the minutes from DNB ASA's annual

general meeting of 30 April 2019, available at www.dnb.no.

This information is subject to the disclosure requirements according to Section

5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Rune Helland, Head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977

13 250