Samhällsbyggnadsbolaget i Norden : Tender Offer - Results Announcement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA (the "United States") OR TO ANY U.S. PERSON (AS DEFINED IN THE TENDER OFFER MEMORANDUM) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

25 March 2024

SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL)

ANNOUNCEMENT OF RESULTS OF TENDER OFFERS

On 18 March 2024, Samhällsbyggnadsbolaget i Norden AB (publ) (the "Offeror") launched invitations to holders of certain outstanding securities set out in the table below, to tender such securities (together, the "Securities" and each series of Securities being a "Series") for purchase by the Offeror for cash at prices to be determined pursuant to a separate unmodified Dutch auction in respect of each Series of Securities, on the terms set out in the tender offer memorandum dated 18 March 2024 (the "Tender Offer Memorandum") prepared by the Offeror and subject to the Transaction Conditions and the other conditions described in the Tender Offer Memorandum. Each Series has, unless otherwise specified below, been issued by the Offeror. The Offers remain subject to the offer and distribution restrictions set out in the Tender Offer Memorandum. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Offeror today announces that it will accept for purchase the aggregate principal amounts of the relevant Series of Securities validly tendered pursuant to the Offers specified in the table below, subject to the satisfaction or (if applicable) waiver of the Transaction Conditions by the Offeror on or prior to the Settlement Date. There will be no pro rata scaling.

The total purchase consideration for Securities validly tendered and accepted for purchase (excluding Accrued Interest Payments in respect of such Securities) is EUR 162,733,888.50 and the total aggregate principal amount of Securities accepted for purchase is EUR 407,767,000.

The final results of the Offers are as follows:

Securities	ISIN	Current Coupon	Series Acceptance Amount
EUR 500,000,000 Subordinated Fixed to Reset Rate Undated Capital Securities (the "January 2025 Hybrid Securities")	XS2010032618	2.624 per cent. per annum	EUR 93,939,000
EUR 500,000,000 Subordinated Fixed to Reset Rate Undated Capital Securities (the "December 2025 Hybrid Securities")	XS2272358024	2.625 per cent. per annum	EUR 74,423,000
Securities	ISIN	Current Coupon	Series Acceptance Amount
EUR 500,000,000 Subordinated Fixed to Reset Rate Undated Capital Securities (the "October 2026 Hybrid Securities")	XS2010028186	2.875 per cent. per annum	EUR 66,224,000
EUR 550,000,000 1.750 per cent. Fixed Rate Notes due 14 January 2025 (the "January 2025 Securities")	XS1993969515	3.000 per cent. per annum*	EUR 0
EUR 5,000,000 4.500 per cent. Notes due 10 March 2025 (the "March 2025 Securities")	XS2597112155	4.500 per cent. per annum	EUR 0
EUR 500,000,000 1.125 per cent. Notes due 4 September 2026 (the "2026 Securities")	XS2049823680	2.375 per cent. per annum*	EUR 0
EUR 750,000,000 1.000 per cent. Notes due 12 August 2027 (the "2027 Securities")	XS2114871945	2.250 per cent. per annum*	EUR 13,450,000
EUR 700,000,000 0.750 per cent. Social Bonds due 14 December 2028 issued by SBB Treasury Oyj ("SBB Treasury") and guaranteed by the Offeror (the "2028 Securities")	XS2271332285	0.750 per cent. per annum	EUR 5,219,000
EUR 950,000,000 1.125 per cent. Social Bonds due 26 November 2029 issued by SBB Treasury and guaranteed by the Offeror (the "2029 Securities")	XS2346224806	1.125 per cent. per annum	EUR 154,512,000
EUR 50,000,000 2.750 per cent. Notes due 3 April 2040 (the "2040 Securities")	XS2151934978	3.000 per cent. per annum	EUR 0

* inclusive of 125 bps coupon step-up.

Holders who have tendered their Securities for purchase pursuant to the Offers are advised to check with the bank, securities broker, custodian, trust company, direct participant or other intermediary through which they hold their Securities to determine whether their tendered Securities have been accepted for purchase by the Offeror.

The Securities that have been tendered but not accepted by the Offeror for purchase pursuant to the Offers shall be unblocked in the relevant Holder's account in the relevant Clearing System.

Subject to the satisfaction or (if applicable) waiver by the Offeror of the Transaction Conditions, the expected Settlement Date in respect of the Offers is 26 March 2024. Full details concerning the Offers are set out in the Tender Offer Memorandum.

The Offers have now expired and no further Securities can be tendered for purchase.

J.P. Morgan SE (Telephone: [phone]; Attention: EMEA Liability Management Group; Email:[e-mail]) is acting as Dealer Manager for the Offers.

Kroll Issuer Services Limited (Telephone: [phone]; Attention: Alessandro Zorza; Email:[e-mail]; Tender Offer Website: https://deals.is.kroll.com/sbbnorden) is acting as Tender Agent for the Offers.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. If any Holder is in any doubt as to the action it should take, it is recommended to seek its own financial andlegal advice, including in respect of any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.