Instabank — M&A Activity 2022

Apr 7, 2022

Reminder of the expiry of the offer period for the recommended voluntary cash offer from Lunar to acquire all shares of Instabank

Reminder of the expiry of the offer period for the recommended voluntary cash offer from Lunar to acquire all shares of Instabank

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reminder of the expiry of the offer period for the recommended voluntary cash offer from Lunar to acquire all shares of Instabank

Aarhus/Oslo, 7 April 2022

Reference is made to the Offer Document dated 28 March 2022 (the “Offer Document”) and the stock exchange announcement on the same day for the recommended voluntary offer (the “Offer”) by Lunar Bank A/S, a subsidiary of Lunar Group (“Lunar”), to acquire 100% of the shares of Instabank ASA (“Instabank”).

The Offer Period for the Offer will expire on 11 April 2022 at 16:30 (Norwegian time), subject to extensions at the sole discretion of Lunar (the “Offer Period”). The completion of the Offer remains subject to fulfilment or waiver by Lunar (in its sole discretion) of the closing conditions set out in the Offer Document, including the receipt of valid acceptances representing more than 90% of the issued share capital and voting rights in Instabank, and approval of the transaction by the Norwegian Financial Supervisory Authority.

Shareholders who want to accept the Offer must fill out and return the acceptance form included in the Offer Document to ABG Sundal Collier via acceptance@abgsc.no or post as set out in the Offer Document, prior to the expiry of the Offer Period.

The Offer Document is, subject to regulatory restrictions in certain jurisdictions, available at www.abgsc.com. Shareholders per 25 March 2022 registered with an address in Norway in VPS have received the Offer Document and acceptance form via post. Additionally, shareholders per 25 March 2022 having consented to electronic communication via VPS have received the Offer Document and acceptance form electronically.

For further information on the Offer, please visit www.abgsc.com, or contact ABG Sundal Collier at

+47 22 01 60 00

Contact info:

Robert Berg, CEO of Instabank

Phone: +47 974 85 610

Ken Villum Klausen, Founder and CEO of Lunar

Phone: +45 20 68 45 10

Advisors:

Pareto Securities is acting as financial advisor and Advokatfirmaet Thommessen as legal advisor to Instabank.

ABG Sundal Collier is acting as financial advisor and Schjødt as legal advisor to Lunar.