On 18 April 2017, Aprila Bank ASA (the "Company") issued warrants to its early shareholders (the "Warrants"). The Warrants were issued with a duration of 5 years from 18 April 2017 and with a strike price of NOK 5.50 per new share. 

Today, 13 April 2022, the following exercise of Warrants has taken place:
-	Amesto Group AS has exercised all Warrants owned by Amesto Group for 1,875,000 new shares
-	Amesto Group AS has acquired 360,000 shares through Disruptor AS' exercise of Warrants for 360,000 new shares
-	Equilibria ApS has exercised Warrants transferred from Primera AS for 1,650,000 new shares
-	SES AS has acquired 400,000 shares through Inchoate AS' exercise of Warrants for 400,000 new shares
-	Chri AS has acquired 180,000 shares through Disruptor AS' exercise of Warrants for 180,000 new shares
-	Primera AS has exercised Warrants for 100,000 new shares
-	Morten Goller has exercised Warrants for 62,500 new shares

In total Warrants for 4,627,500 new shares have been exercised at NOK 5.50 per share, providing Aprila Bank with a total of NOK 25,451,250 in new equity. 

As set out above, certain Warrants were transferred or exercised in together with a sale of shares immediately before exercise. No Warrant holder has had any gain from the sale of the Warrants or the resulting shares, as all Warrants or rights to shares that have been transferred were transferred without other consideration to the holder than the obligation to exercise the warrants and provide equity to the Company.

After completion of the share issue, the primary insiders in the Company who exercised Warrants will have the following holding: 
-	Arild Spandow, chairman of Aprila Bank and representing Amesto Group AS, will hold 9,568,374 shares, equal to 17.3% of the share capital
-	Bertel Steen, board member of Aprila Bank and representing SES AS, will hold 5,450,505 shares, equal to 9.9% of the share capital
-	Per Christian Goller, CGO of Aprila Bank and owner of Primera AS, will hold 1,786,500 shares, equal to 3.2% of the share capital.