Sbanken : Final extension of the offer period, final increased Offer Price of NOK 108.85 per share and fulfilment of revised minimum acceptance condition of 2/3 for the offer for all Shares in Sbanken ASA

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Oslo, 7 June 2021

Reference is made to the offer document dated 23 April 2021 (the "Offer
Document") for the recommended voluntary offer (the "Offer") by DNB Bank ASA
(the "Offeror") to acquire all outstanding shares (the "Shares") in Sbanken ASA
(the "Company") not already owned by the Offeror against a consideration in cash
of NOK 103.85 per Share (subject to adjustment as set out in the Offer Document)
(the "Offer Price"). Reference is also made to the stock exchange release from
the Offeror on 24 May 2021 where the acceptance period of the Offer (the "Offer
Period") was extended until 7 June 2021 at 16:30 hours (CEST).

The Offeror hereby announces a second and final extension of the Offer Period
until 14 June 2021 at 16:30 hours (CEST) in accordance with Sections 3.3 (Offer
Period) and 3.8 (Amendments to the Offer) of the Offer Document. There will be
no further extensions of the Offer Period.

The Offeror further announces an increase of the Offer Price to NOK 108.85
(subject to adjustment pursuant to section 3.2 (Offer Price) of the Offer
Document and the other terms and conditions as set out in the Offer Document) in
accordance with Section 3.8 (Amendments to the Offer) of the Offer Document.
Shareholders in the Company who have already accepted the Offer will also
benefit from the increased Offer Price. This is the Offeror's best and final
Offer Price.

As of the date hereof at 15:50 hours CEST, the Offeror owns 10,576,419 Shares
(equalling approximately 9.9% of the Shares) and has received acceptances of the
Offer for 69,478,963 Shares (equalling approximately 65.0 % of the Shares),
totalling 74.9% of the outstanding Shares and votes in the Company. Accordingly,
the Offer has been accepted by shareholders representing (when taken together
with the Shares owned by the Offeror) more than 2/3 of the issued and
outstanding share capital and voting rights of the Company on a Fully Diluted
basis (as defined in the Offer Document).

The Offeror has decided to partially waive the closing condition for the Offer
relating to "Minimum Acceptance" (as described in section 3.4 (Conditions for
completing the Offer) of the Offer Document) by reducing the acceptance
threshold from 90% down to 2/3. This means that the closing condition for the
Offer relating to "Minimum Acceptance" has been satisfied, subject to all
acceptances received as of today being valid and not subject to any third party
consents in respect of pledges or other rights.

As a consequence of the extension of the Offer Period, the settlement of the
Offer may be postponed correspondingly. Settlement of the Offer shall take place
no later than ten (10) business days after the date on which the Offeror has
announced that the closing conditions for the Offer relating to "Regulatory
Approvals", as described in the Offer Document, have been fulfilled or waived by
the Offeror. See Section 3.4 (Conditions for completion of the Offer) of the
Offer Document for further information.

The Oslo Stock Exchange has in its capacity as take-over authority of Norway
approved the extension of the Offer Period and the increase of the Offer Price.
The other terms and conditions of the Offer (except for the waiver of the
closing condition relating to "Minimum Acceptance" down to 2/3 as described
above) will remain unchanged and as set out in the Offer Document.

The Company's Board of Directors maintains its recommendation of the Offer on
the terms and conditions described in the Offer Document and as included in the
Offer Document Appendix 1. The Company has also confirmed to the Offeror that it
is currently not aware of any other offers or proposals for an acquisition of
the Company's Shares or any other Competing Offer (as defined in the Offer
Document).

Completion of the Offer is subject to the fulfilment or waiver by the Offeror of
the conditions for completion of the Offer set out in the Offer Document. Except
for the waiver of the closing condition relating to "Minimum Acceptance" down to
2/3 as described above,  as of the date hereof, none of the conditions that
require any action in order to be fulfilled have been fulfilled, and none of the
conditions that refers to events that shall not occur have, to the Offeror's
knowledge, occurred. The complete terms and conditions for the Offer, including
procedures for how to accept the Offer and detailed information regarding
settlement, are set out in the Offer Document, with the amendments as described
herein.

Acceptances of the Offer already received will remain binding and there is no
need for shareholders that have already accepted the Offer to take any further
action to confirm their acceptances or otherwise.

Shareholders that want to accept the Offer, and have not already done so, must
fill out and return the acceptance form which is included in the Offer Document
by 16:30 hours (CEST) on 14 June 2021. There will be no further extensions of
the Offer Period.

The Offer Document is, subject to regulatory restrictions in certain
jurisdictions, available at www.dnb.no/emisjoner. Subject to regulatory
restrictions in certain jurisdictions, the Offer Document may also be obtained
free of charge during ordinary business hours at the offices of the receiving
agent, DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, 0191
Oslo, Norway.

DNB Markets, a part of DNB Bank ASA is acting as financial advisor to the
Offeror. Advokatfirmaet BAHR AS is the legal advisor to the Offeror in
connection with the Offer. Arctic Securities AS is acting as financial advisor
and Advokatfirmaet Thommessen AS is the legal advisor to the Company in
connection with the Offer.

For further information, please contact the following persons in the Offeror:

Rune Helland, Head of Investor Relations, telephone [phone]

Media contact:

Thomas Midteide, GEVP Communications & Sustainability: [phone]

The following persons in the Company may also be contacted in connection with
the Offer:

Jesper M. Hatletveit, Head of Investor Relations, [phone]

Henning Nordgulen, CFO, [phone]

Media contact:

Kristian K. Fredheim, Head of Communications, [phone]

***

This information is subject to the disclosure requirements according to section
5-12 of the Norwegian Securities Trading Act.

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions.
When published, the Offer Document and related acceptance forms will not and may
not be distributed, forwarded or transmitted into or within any jurisdiction
where prohibited by applicable law, including, without limitation, Canada,
Australia, New Zealand, South Africa, Hong Kong and Japan. The Offeror does not
assume any responsibility in the event there is a violation by any person of
such restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions.

This announcement is not a tender offer document and, as such, does not
constitute an offer or the solicitation of an offer to acquire the Shares.
Investors may accept the Offer only on the basis of the information provided in
the Offer Document. Offers will not be made directly or indirectly in any
jurisdiction where either an offer or participation therein is prohibited by
applicable law or where any tender offer document or registration or other
requirements would apply in addition to those undertaken in Norway.

Notice to U.S. Holders

U.S. Holders (as defined below) are advised that the Shares are not listed on a
U.S. securities exchange and that the Company is not subject to the periodic
reporting requirements of the U.S. Securities Exchange Act of 1934, as amended
(the "U.S. Exchange Act"), and is not required to, and does not, file any
reports with the U.S. Securities and Exchange Commission (the "SEC") thereunder.
The Offer will be made to holders of Shares resident in the United States ("U.S.
Holders") on the same terms and conditions as those made to all other holders of
Shares of the Company to whom an offer is made. Any information documents,
including the Offer Document, will be disseminated to U.S. Holders on a basis
comparable to the method that such documents are provided to the Company's other
shareholders to whom an offer is made. The Offer will be made by the Offeror and
no one else.

The Offer will be made to U.S. Holders pursuant to Section 14(e) and Regulation
14E under the U.S. Exchange Act as a "Tier II" tender offer, and otherwise in
accordance with the requirements of Norwegian law. Accordingly, the Offer will
be subject to disclosure and other procedural requirements, including with
respect to the offer timetable, settlement procedures and timing of payments,
that are different from those that would be applicable under U.S. domestic
tender offer procedures and law.

Pursuant to an exemption from Rule 14e-5 under the U.S. Exchange Act, the
Offeror and its affiliates or brokers (acting as agents for the Offeror or its
affiliates, as applicable) may from time to time, and other than pursuant to the
Offer, directly or indirectly, purchase or arrange to purchase, Shares or any
securities that are convertible into, exchangeable for or exercisable for such
Shares outside the United States during the period in which the Offer remains
open for acceptance, so long as those acquisitions or arrangements comply with
applicable Norwegian law and practice and the provisions of such exemption. To
the extent information about such purchases or arrangements to purchase is made
public in Norway, such information will be disclosed by means of an English
language press release via an electronically operated information distribution
system in the United States or other means reasonably calculated to inform U.S.
Holders of such information. In addition, the financial advisors to the Offeror
may also engage in ordinary course trading activities in securities of the
Company, which may include purchases or arrangements to purchase such
securities.

Neither the SEC nor any securities supervisory authority of any state or other
jurisdiction in the United States has approved or disapproved the Offer or
reviewed it for its fairness, nor have the contents of the Offer Document or any
other documentation relating to the Offer been reviewed for accuracy,
completeness or fairness by the SEC or any securities supervisory authority in
the United States. Any representation to the contrary is a criminal offence in
the United States.

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