NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE 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.

Reference is made to the announcement published by Aprila Bank ASA (the "Company") on 5 June 2024, where a consortium of certain primary insiders and other employees (the “Consortium”) announced a block purchase of up to approx. 600,000 existing shares in the Company through a reverse bookbuilding process (the “Offering”). The reverse bookbuilding period expired at 12:00 (CEST) on 6 June 2024. Following the end of the reverse bookbuilding period, the Consortium has resolved to buy 486,278 shares at a price of NOK 7.50 per share. This equates to NOK 3,647,085 in total.

Notification of allocation will be made before 09:00 (CEST) on 7 June 2024 (T) and settlement will take place on 11 June 2024 (T+2). The settlement will be conducted on a normal delivery-versus-payment basis (DVP). 

The Offering was carried out as part of a share incentive arrangement in the Company for the Consortium. The Consortium has undertaken a 3-year lock-up obligation for the shares purchased in the Offering.

The following primary insiders, and close associates to primary insiders, have been allocated the following in the Offering: 

Aksel Fjeld-Olsen (Head of legal) has been allocated 12,000 existing shares in the Offering. Following completion of the Offering, Aksel Fjeld-Olsen (Head of legal) controls in total 32,000 shares in the Company.

Blue Mountain Capital AS, which is controlled by Kjetil Sørlien Barli (Chief Financial Officer), has been allocated 15,347 existing shares in the Offering. Following completion of the Offering, Kjetil Sørlien Barli (Chief Financial Officer) controls in total 614,000 shares in the Company.

Disruptor AS, which is controlled by Israr Khan (Chief Product & Technology Officer), has been allocated 10,000 existing shares in the Offering. Following completion of the Offering, Israr Khan (Chief Product & Technology Officer) controls in total 760,289 shares in the Company.

Halvor Lande (Chief Executive Officer) has been allocated 28,000 existing shares in the Offering. Following completion of the Offering, Halvor Lande (Chief Executive Officer) controls in total 305,902 shares in the Company and has 462,326 options outstanding in the Company.

Pippen Holding AS, which is controlled by Christian Lunde (Chief Credit Officer), has been allocated 15,000 existing shares in the Offering. Following completion of the Offering, Christian Lunde (Chief Credit Officer) controls in total 106,523 shares in the Company and has 190,448 options outstanding in the Company.

Primera AS, which is controlled by Per Christian Goller (Chief Growth Officer), has been allocated 10,000 existing shares in the Offering. Following completion of the Offering, Per Christian Goller (Chief Growth Officer) controls in total 1,854,417 shares in the Company.

ØSD Invest AS, which is controlled by Øystein Sindre Dannevig (Chief Decision Scientist), has been allocated 120,000 existing shares in the Offering. Following completion of the Offering, Øystein Sindre Dannevig (Chief Decision Scientist) controls in total 1,512,781 shares in the Company and has 71,988 options outstanding in the Company.

Pareto Securities AS is acting as manager in the Offering. 

For further information, please contact: 

Pareto Securities AS: +47 22 87 87 50 

IMPORTANT NOTICE 

The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). None of the Company, the Consortium or the Manager assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their VPS accounts. 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, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail 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 into the United States or any such jurisdiction and so doing may invalidate any purported acceptance.