SpareBank 1 SMN

Director's Dealing • Dec 16, 2020

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 2021, 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 2021 by enrolling in

the savings scheme in December 2020. For 2021 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 2021. 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 early-December 2021.

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 2021, all employees will receive one free equity

certificate for every two purchased under the programme.

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

the savings programme for 2021. The amounts listed are total amounts for 2021.

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)

Arne Nypan                                       24,000

Berit Rustad                                       24,000

Camilla Stang                                    6,000

Cathrine Aunvik                                24,000

Hans Tronstad                                    24,000

Inge Lindseth                                     24,000

Jan-Frode Janson                               24,000

Kjell Fordal                                        24,000

Margrete L. Resellmo                        6,000

Nelly Maske                                       24,000

Oddny Lysberg                                  24,000

Ola Neråsen                                       24,000

Rolf Jarle Brøske                               24,000

Tomm Bøyesen                                  24,000

Unni Larsen                                        24,000

Trondheim, 15 December 2020

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