Sparebanken Sør

Share Issue/Capital Change • Apr 23, 2025

Decision on completion of the merger of Sparebanken Vest and Sparebanken Sør and subscription price for new equity capital certificates to be issued in connection with the merger

Decision on completion of the merger of Sparebanken Vest and Sparebanken Sør and subscription price for new equity capital certificates to be issued in connection with the merger

Reference is made to the stock exchange notices of 28 August 2024, 2 October 2024, 29 November 2024 and 20 March 2025 regarding the merger of Sparebanken Vest and Sparebanken Sør.

All conditions for the completion of the merger have been fulfilled. Therefore, the boards of Sparebanken Vest and Sparebanken Sør have today, 23 April 2025, decided to complete the merger of the banks.

The board of Sparebanken Vest has also set the subscription price for the new equity capital certificates to be issued in connection with the capital increase which will be carried out to issue equity capital certificates as consideration in the merger of the banks. In connection with the completion of the merger, the equity certificate capital in Sparebanken Vest will be increased by NOK 1,497,382,850 through the issuance of 59,895,314 new equity capital certificates, each with a nominal value of NOK 25 and at a subscription price of NOK 89.1. The subscription price equals the last estimated book value per equity capital certificate at a company level at the time the board of directors decided to complete the merger, in accordance with the merger plan. All equity capital certificates will be issued to the existing equity certificate holders in Sparebanken Sør.

The merger is planned to be completed on the 2 May 2025.

Contact persons:

Sparebanken Vest

CEO: Jan Erik Kjerpeseth, tel.: +47 951 98 430

CFO: Frank Johannesen, tel.: +47 952 65 971 

Sparebanken Sør

CEO: Geir Bergskaug, tel.: +47 901 27 206

CFO: Steinar Vigsnes, tel.: +47 906 13 135

This information is disclosed pursuant to the requirements of the Securities Trading Act § 5-12.