SpareBank 1 SMN

Major Shareholding Notification • Apr 1, 2020

SpareBank 1 SMN: SpareBank 1 Gruppen retains 65 per cent ownership in Fremtind Forsikring

SpareBank 1 SMN: SpareBank 1 Gruppen retains 65 per cent ownership in Fremtind Forsikring

SpareBank 1 SMN's partly owned company SpareBank 1 Gruppen has, as previously

communicated, entered into an option agreement with DNB that could reduce the

company's ownership interest in Fremtind Forsikring from 65 per cent to 60 per

cent ownership no later than the end of Q1 2020. By option deadline - Tuesday

31.03 at 24:00 - SpareBank 1 Gruppen has not received the necessary notification

from DNB regarding the requirement to exercise, and the option has therefore

lapsed in its entirety.

DNB has stated that they are satisfied with the cooperation and development of

Fremtind Forsikring, and is interested in increasing its stake in the company in

the long term. However, due to the circumstances in today's market, DNB has

stated that exercising such an option is not desirable today.

SpareBank 1 Gruppen and DNB thus retain the current ownership shares of 65 per

cent and 35 per cent respectively. DNB has further stated that they wish to

resume the dialogue with SpareBank 1 Gruppen to increase their ownership

interest in Fremtind Forsikring.

Trondheim, 1 April 2020

Contact person at SpareBank 1 SMN:

Executive director, Finance, Kjell Fordal on +47 905 41 672

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act