Sydbank — Capital/Financing Update 2018

May 30, 2018

Nasdaq Copenhagen A/S London Stock Exchange Bourse de Luxembourg Other stakeholders

Company Announcement No 30/2018

Peberlyk 4 6200 Aabenraa, Denmark

Tel +45 74 37 37 37
Fax +45 74 37 35 36

Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk

30 May 2018

Dear Sirs

Issue of Tier 1 capital and notice convening the Extraordinary General Meeting

Today Sydbank has issued Additional Tier 1 capital of EUR 100m with a coupon of 5.25%. The loan is perpetual with optional redemption on 28 August 2025.

The issue is effected with a view to optimising the Bank's capital structure.

At the same time the Extraordinary General Meeting is convened to be held on 22 June 2018 at 10:00am in SydbankSalen at Peberlyk 4, 6200 Aabenraa, Denmark.

The notice and the agenda of the Extraordinary General Meeting have been attached to this announcement.

Yours sincerely

Torben Nielsen Chairman Board of Directors

Karen Frøsig CEO

ydbank

Notice convening the Extraordinary General Meeting of Sydbank A/S

Sydbank's Extraordinary General Meeting will be held on Friday 22 June 2018 at 10:00am in SydbankSalen at Peberlyk 4, 6200 Aabenraa, Denmark.

Agenda:

1. Motion submitted by the Board of Directors:

The Board of Directors is authorised to allow the Bank to acquire own shares at a total value of up to 10% of the Bank's share capital. The price paid for shares may not differ by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of purchase. The authority is effective until the next annual general meeting.

The agenda is available at sydbank.dk/generalforsamling and sydbank.com/generalmeeting and at Sydbank's branches for inspection by the shareholders no later than three weeks before the general meeting.

The Bank's share capital totals DKK 676,709,540. As regards shareholders' voting rights, reference is made to Article 10 of the Bank's Articles of Association.

Shareholders are entitled to attend and to raise questions at the general meeting and to vote according to the number of shares held by a shareholder on the date of registration, which is 15 June 2018.

Admission cards for the general meeting can be ordered at any of Sydbank's branches or at sydbank.dk/generalforsamling and sydbank.com/generalmeeting no later than Monday 18 June 2018.

If a shareholder wishes to vote by postal vote or to issue an instrument of proxy to the Board of Directors or others, the necessary documents are available at the Bank's websites. Instruments of proxy must have been received by the Bank no later than 18 June 2018 and postal votes must have been received by the Bank no later than 4:00pm, 19 June 2018.

Aabenraa, 30 May 2018

The Board of Directors of Sydbank A/S Torben Nielsen Chairman