Sbanken ASA: Initiating repurchase of shares for executive managers and board members

Sbanken ASA offers a share purchase program for executive managers and board members where shares are offered at a price including a 20 per cent discount and is subject to a three-year lock-up period.

Subscription amount in the program can until 31 December 2022 not exceed:

* NOK 5 million for the CEO

* NOK 4 million for the CFO

* NOK 3 million for other executive managers

* NOK 2 million for the chair of the board

* NOK 1 million for board members

Further reference is made to the general meeting of 24. April 2020 where the company was granted approval to acquire shares at a price between NOK 10 and NOK 150 per share and up to an aggregate nominal value of NOK 32 million. The repurchasing of shares will be conducted in accordance with the applicable regulations of the Oslo Stock Exchange and the Norwegian Securities Trading Act.

Contact details, Investor Relations:

Jesper M. Hatletveit, Head of IR, Sbanken ASA,

Henning Nordgulen, CFO, Sbanken ASA,

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