SpareBank 1 SMN

M&A Activity • Mar 17, 2023

Finanstilsynet has granted necessary permits to carry out the merger between SpareBank 1 SMN and SpareBank 1 Søre Sunnmøre

Finanstilsynet has granted necessary permits to carry out the merger between SpareBank 1 SMN and SpareBank 1 Søre Sunnmøre

Reference is made to previous stock exchange notifications on the merger process, the latest dated 21 December 2022. The Financial Supervisory Authority of Norway (Finanstilsynet) has now granted the necessary permits to carry out the merger between SpareBank 1 SMN and SpareBank 1 Søre Sunnmøre in accordance with a decisions made by the banks' Supervisory Boards on 9 November 2022.

Finanstilsynet has also granted permission to the establishment of Sparebankstiftinga Søre Sunnmøre, which will be established by SpareBank 1 Søre Sunnmøre in connection with the completion of the merger.

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

Contact persons:

SpareBank 1 SMN

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

For the press: 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 disclosed pursuant to the requirements of the Securities Trading Act § 5-12.