SpareBank 1 SMN

Board/Management Information • Dec 16, 2021

SpareBank 1 SMN: Continued savings programme for employees

SpareBank 1 SMN: Continued savings programme for employees

The Board of Directors of SpareBank 1 SMN has decided to continue the savings

scheme for employees in 2022, who are invited to buy equity certificates issued

by the bank.

All employees of the bank and its subsidiaries are invited to participate in the

savings programme. The object of the programme is to motivate employees to

become co-owners of the bank and the same time to increase interest in the

bank's strategy and results.

Employees commit themselves to a fixed savings amount for 2022 by enrolling in

the savings scheme in December 2021. For 2022 the bank offers a scheme enabling

employees to save either NOK 6,000, NOK 12,000 or NOK 24,000 per year through a

monthly salary deduction from January to December 2022. The savings amount will

be used to buy equity certificates in SpareBank 1 SMN on behalf of the

participating employees. The amounts are fixed for the year and cannot be

changed during the period of the programme.

The bank will aim to acquire the equity certificates in the day(s) following the

publication of 1(st), 2(nd) and 3(rd) quarter results, and December 2022.

SpareBank 1 Markets will acquire the equity certificates on behalf of the bank.

The equity certificates will be distributed to the employees as soon as possible

after the acquisition at the same price the bank paid in the open market without

any form of discount. Purchase price and number of equity certificates purchased

by the bank will be published in accordance with the current rules for trading

in own shares.

After 2 years of consecutive ownership of the equity certificates purchased in

the savings programme for 2022, all employees will receive one free equity

certificate for every two purchased under the programme.

The table below lists primary insiders of SpareBank 1 SMN participating in the

savings programme for 2022. The amounts listed are total amounts for 2022.

Purchase price and number of equity certificates purchased by each primary

insider will be published after the completion of each transaction.

Name Savings amount (NOK)

Jan-Frode Janson 24,000

Kjell Fordal 24,000

Vegard Helland  24,000

Ola Neråsen 24,000

Rolf Jarle Brøske 24,000

Inge Lindseth 24,000

Christina Straub 12,000

Karin Norli 24,000

Astrid Undheim 24,000

Kjetil Reinsberg  24,000

Kjersti Hønstad 24,000

Arne Nypan 24,000

Trondheim, 15 December 2021

Contact person in SpareBank 1 SMN:

CFO, Kjell Fordal, tel. +47 905 41 672

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act