SpareBank 1 SMN

M&A Activity • Dec 21, 2022

Merger of SpareBank 1 SMN and SpareBank 1 Søre Sunnmøre - the Norwegian Competition Authority has cleared the transaction

Merger of SpareBank 1 SMN and SpareBank 1 Søre Sunnmøre - the Norwegian Competition Authority has cleared the transaction

Reference is made to stock exchange notice dated 9 November 2022 stating that the Supervisory Board in SpareBank 1 SMN and the General Meeting in SpareBank 1 Søre Sunnmøre have approved the merger of the two banks.

The Norwegian Competition Authority has on 21 December 2022 cleared the transaction.

The merger is contemplated to be finalised on 2 May 2023.

Contact persons:

SpareBank 1 SMN

For investors: CFO Trond Søraas, tel. +47 922 36 803

For media: Executive director Rolf Jarle Brøske, tel. +47 911 12 475

SpareBank 1 Søre Sunnmøre

Chairman, Kjell Arvid Storeide, tel. +47 915 70 925

CEO, Stig Olav Brautaset, tel. +47 908 26 448

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.