Offer to purchase shares in Bien Sparebank ASA by JBF Forsikring Gjensidig

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT
THE END OF THIS COMMUNICATION.

JBF Forsikring Gjensidig (the "Buyer") has engaged Pareto Securities AS (the
"Manager") to explore a potential block purchase of up to 289,690 existing
shares in Bien Sparebank ASA (the "Company"), corresponding to up to approx. 5%
of the outstanding shares in the Company (the "Offer"). 

The Buyer reserves the right, at its sole discretion, to reduce the offer size
or to purchase no shares at all in the Offer. All shareholders in the Company
are invited to tender shares in the Offer at the Offer Price subject to the
restrictions set out herein.

The Offer will be conducted at a fixed price of NOK 131.00 per share (the "Offer
Price"). As a reference, the Company's book value per share (excluding hybrid
capital) was NOK 116.86 in Q3 2024. The Offer Price thus equates a price / book
ratio of approx. 1.12x (based on the Company's last reported quarter).

The Buyer currently owns 1,130,359 shares in the Company which corresponds to
approx. 19.9% of the outstanding shares in the Company. If the Offer is
completed in full, the Buyer will own just below 25% of the outstanding shares
in the Company which is the maximum amount of shares the Buyer is allowed to own
based on Norwegian laws and regulations.

In order to validly participate in the Offer, shareholders wanting to tender
shares must (i) ensure that the attached acceptance form completed in full is
received by the Manager before the end of the Application Period, or (ii)
contact the Manager at +47 22 87 87 50 before the end of the Application Period.

The application period for tendering shares in the Offer commences on 27 January
2025 at 09:00 (CET) and is expected to close on 30 January 2025 at 16:30 (CET)
(the "Application Period"). The Buyer reserves the right to shorten or extend
the Application Period at its own discretion. If the Application Period is
shortened or extended the other dates referred to herein may be amended
accordingly.

In the event that the total number of received sales orders at the Offer Price
exceeds 289,690 shares (or such number of shares that the Buyer 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 Offer at the Offer Price. 

The settlement of shares in the Offer is expected to take place on or about 31
January 2025 and the settlement of cash in the Offer is expected to take place
on or about 5 February 2025. The allocations in the Offer is expected to be
communicated on or about 3 February 2025 before 09:00 (CET).

For further information, please contact: 

Helge Dalen / CEO in JBF Forsikring Gjensidig / +47 918 58 275

Important notice:

The Offer and the distribution of this press release and other information in
connection with the Offer may be restricted by law in certain jurisdictions. The
Buyer does not assume any responsibility in the event there is a violation by
any person of such restrictions. Persons into whose possession this press
release or relevant information should come are required to inform themselves
about and to observe any such restrictions. The Offer 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, Canada, Australia or Japan. 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 into the
United States, Canada, Australia or Japan and so doing may invalidate any
purported acceptance.

This information has been made public by Bien Sparebank ASA at the request of
JBF Forsikring Gjensidig. Bien Sparebank ASA assumes no responsibility for and
has not reviewed or verified any of the information received from JBF Forsikring
Gjensidig. 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Lena Jørundland, CEO of Bien Sparebank
ASA, at the time and date stated above in this announcement.

This information is subject to the disclosure requirements set out in the
Norwegian Securities Trading Act section 5-12.