Instabank — M&A Activity 2022

Sep 30, 2022

LUNAR BANK'S VOLUNTARY OFFER FOR INSTABANK HAS LAPSED

Aarhus, 30 September 2022

1

Lunar Bank A/S ("Lunar Bank") refers to the joint announcement with Instabank ASA ("Instabank") on 28 March 2022 regarding a voluntary cash offer from Lunar Bank to acquire all shares of Instabank (the "Offer") and subsequent announcements regarding the Offer.

Lunar Bank has unfortunately not received the required consent from the Norwegian Financial Supervisory Authority to complete the Offer. Consequently, the condition for the Offer that all consents and approvals required from applicable regulatory authorities in connection with the Offer shall have been obtained, has not been fulfilled by end of trading on the drop dead date of 30 September 2022.

The Offer has therefore lapsed and all Instabank shareholders who have tendered shares in the Offer are released from their acceptances.

Lunar Bank A/S