SBNOR: Changes to the Group Executive Management

Eskild Stenhaug will join the Group Executive Management of Sparebanken Norge in
the newly established position of Executive Vice President, Asset Management and
Corporate Social Responsibility.

- This is an extremely exciting recruitment, and I am very pleased to welcome
Eskild to the team. With his extensive experience, Eskild will further
strengthen an already solid management team at our head office in Kristiansand,
led by Regional Executive Vice President Pål Ekberg, says CEO Jan Erik
Kjerpeseth.

Eskild Stenhaug joins from his position as CEO of Sparebankstiftelsen
Sparebanken Norge and has more than 25 years of experience in banking, asset
management and Private Banking, including management roles at DNB Luxembourg. In
recent years, he has particularly distinguished himself in corporate governance
and board work.

Eskild Stenhaug will be responsible for the bank's Asset Management and Markets
departments, as well as Corporate Social Responsibility.

- To me, this is a unique opportunity to help build Norway's best savings bank.
I feel it is a great privilege to be part of this journey. Taking responsibility
for asset management and corporate social responsibility is very closely aligned
with how I want to apply my experience and commitment going forward. I want to
help ensure that Sparebanken Norge delivers strong financial results while using
its position to create lasting value for customers, equity certificate holders
and society, says Stenhaug.

- We will make a significant step change in the systems and structures
supporting our charitable giving activities to ensure that we realise the full
impact of the capacity we now have as Norway's largest savings bank. With his
highly relevant experience, Eskild will be an important resource in this work.
He will also play a key leadership role as we strengthen our focus on Asset
Management and Markets going forward, says Kjerpeseth.

Organisational changes
At the same time, the following changes will be made to the organisation of
Sparebanken Norge:

Steinar Breen, Executive Vice President, Strategy and Projects, will step down
from the Group Executive Management to take responsibility for major strategic
projects, initially the major investment in the new head office in Kristiansand:

- Delivering this construction project is of major strategic importance and will
require dedicated attention from the bank, says Kjerpeseth.

- A new head office in the heart of Kristiansand is an investment in people,
expertise and value creation. The building will become a hub for development,
innovation and collaboration, and will play a central role in strengthening both
the bank and the region in the years ahead. I look forward to creating a head
office that brings together the most attractive knowledge-based jobs in Southern
Norway through the renewal of one of the city's most iconic buildings, says
Steinar Breen.

The bank's Strategy and Projects department will be transferred to the
Technology division under Executive Vice President, Technology and Development,
Siren Sundland.

Contacts:
Jan Erik Kjerpeseth
CEO 
+47 951 98 430

Pål Ekberg
Regional Executive Vice President and Retail Market South 
+47 930 65 280

Eskild Stenhaug
Incoming Executive Vice President, Asset Management and Corporate Social
Responsibility
+47 462 07 771
 Executive Vice President\, Asset Management and Corporate Social\
Responsibility\
+47 462 07 771\