Sydbank — M&A Activity 2014

Jan 9, 2014

Sydbank

NASDAQ OMX Copenhagen London Stock Exchange Bourse de Luxembourg Other stakeholders

Company Announcement No 01/2014

Peberlyk 4 · PO Box 1038 DK-6200 Aabenraa

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

sydbank.com SWIFT SYBKDK22

Sydbank A/S CVR No DK 12626509, Aabenraa

9 January 2014

Dear Sirs

Company announcement concerning the compulsory redemption of the shares of the minority shareholders of DiBa Bank A/S

In continuation of Company Announcement No 20/2013 dated 20 December 2013 released by Sydbank A/S ("Sydbank"), Sydbank, holding 97.3% of the share capital and voting rights in DiBa Bank A/S (CVR No 32 12 77 11) ("DiBa Bank"), has decided that the remaining shareholders of DiBa Bank A/S are to have their shares redeemed by Sydbank in pursuance of sections 70-72 of the Danish Companies Act. As stated in the recommended voluntary tender offer submitted by Sydbank on 21 November 2013 regarding the shares in DiBa Bank, Sydbank intended to initiate a compulsory redemption regarding the remaining shareholders of DiBa Bank, provided that the terms and conditions of the tender offer were satisfied.

Compulsory redemption will be initiated on 15 January 2014 by letter to the registered shareholders, by announcement on the website of DiBa Bank and by advertisement in a national newspaper as well as a local newspaper (in accordance with the Articles of Association of DiBa Bank regarding convening general meetings).

The minority shareholders will be requested to transfer their shares in DiBa Bank to Sydbank at a price of DKK 145 per share of DKK 20 nominal within 4 weeks. The deadline for the transfer of shares by the minority shareholders of DiBa Bank to Sydbank will expire on 12 February 2014 at 23:59.

The price offered is equal to the price offered to the shareholders of DiBa Bank in Sydbank's recommended voluntary tender offer that expired on 19 December 2013 and as a result of which, following the implementation of the tender offer, Sydbank holds more than 90% of the share capital and the voting rights in DiBa Bank.

Yours sincerely

Karen Frøsig CEO

Bjarne Larsen Deputy Group Chief Executive