NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTOTHE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION Sparebankstiftelsen SR-Bank (the "Foundation") has engagedPareto Securities AS andSpareBank 1 Markets AS (the "Managers") to explore a potential block purchase of up to 2,557,510 existing shares inSpareBank 1 SR-Bank ASA (the "Company"), corresponding to up to approximately 1% of the outstanding shares in the Company (the "Offering"). The Foundation reserves the right, at its sole discretion, to amend the offering size or to purchase no shares at all. The Foundation currently holds 72,419,305 shares in the Company (equal to approx. 28.32% of the outstanding shares). The Foundation is furthermore represented on the Company's board of directors by Kjetil Skjæveland. The Offering is carried out through an overnight reverse bookbuilding process. The Managers will gather and accumulate sales orders from existing shareholders in the Company. All existing shareholders in the Company are invited to offer shares at a price level defined by the respective selling shareholder by contacting the Managers (please find contact details below). The final purchase price per share will be set based on the sales orders received at a level representing a satisfactory price and offering volume (to be determined by the Foundation at its sole discretion). The final purchase price will be identical for all selling shareholders. The reverse bookbuilding period commences at 16:30 hours (CET) on15 November 2022 and is expected to close at 08:00 hours (CET) on16 November 2022 . The Foundation may, at its sole discretion, extend or shorten the reverse bookbuilding period at any time and for any reason without notice. If the reverse bookbuilding period is extended or shortened, the other dates referred to herein might be changed accordingly. Based on the above closing time, allocation and pricing is expected to be made before 09:00 hours (CET) on16 November 2022 (T), and settlement is expected to take place on or about18 November 2022 (T+2) through a delivery versus payment transaction (DVP). In the event that the total number of received sales orders at the final purchase price exceeds 2,557,510 shares (or such number of shares that the Foundation wishes to purchase), the allocation will, to the extent possible, be made on a pro rata basis based on the volume offered by each selling shareholder with the objective of treating all shareholders equally based on their indicated interest in participating in the Offering at or below the final purchase price. Existing shareholders in the Company wishing to participate in the Offering can contactPareto Securities AS at +47 22 87 87 50 orSpareBank 1 Markets AS at + 47 24 14 74 70 in order to place a sales order. For further information, please contact: Kjetil Skjæveland, CEO, Sparebankstiftelsen SR-Bank, +47 909 96 604 *** Important information The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions. The Foundation 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 relevant information should come are required to inform themselves about and to observe any such restrictions. The Offering is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of,the United States of America , its territories and possessions, anyState of the United States and theDistrict of Columbia (the "United States "). This includes, but is not limited to, facsimile transmission, internet delivery, e-mail, telex and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or intothe United States and so doing may invalidate any purported acceptance.
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