Reference is made to the stock exchange issued by Morrow Bank ASA (the
"Company") yesterday where it was announced a share capital increase pertaining
to the issue of 22,222,222 shares in the private placement that was successfully
placed on 14 June 2023.

The following persons discharging managerial responsibilities ("PDMRs") have
subscribed for the following number of shares in the Private Placement
(partially through close associates): 

- Stig Eide Sivertsen, Chairman of the Board, has subscribed for a total of
100,000 shares. Following the transaction Stig Eide Sivertsen and close
associates hold 400,000 shares in Morrow Bank ASA.

- Bodil Palma Hollingsæter, board member, has subscribed for a total of 100,000
shares. Following the transaction Bodil Palma Hollingsæter and close associates
hold 740,394 shares in Morrow Bank ASA.

- Thomas Bjørnstad, board member, has subscribed for a total of 30,000 shares.
Following the transaction Thomas Bjørnstad and close associates hold 102,727
shares in Morrow Bank ASA.

- Per Olav Mikaelsen, board member, has subscribed for a total of 10,000 shares.
Following the transaction Per Olav Mikaelsen and close associates hold 10,000
shares in Morrow Bank ASA.

- Øyvind Oanes, Chief Executive Officer, has subscribed for a total of 100,000
shares. Following the transaction Øyvind Oanes and close associates hold 402,727
shares and 1,250,000 warrants in Morrow Bank ASA.

- Eirik Holtedahl, Chief Financial Officer, has subscribed for a total of
800,000 shares. Following the transaction Eirik Holtedahl and close associates
hold 2,463,538 shares, 43,532 share options and 800,000 warrants in Morrow Bank
ASA. 

- Wilhelm B. Thomassen, Chief Operating Officer, has subscribed for a total of
50,000 shares. Following the transaction Wilhelm B. Thomassen and close
associates hold 2,108,455 shares, 227,232 share options and 800,000 warrants in
Morrow Bank ASA.

- Martin Valland, Chief Technology Officer, has subscribed for a total of
100,000 shares. Following the transaction Martin Valland and close associates
hold 136,363 shares and 800,000 warrants in Morrow Bank ASA.

- Enok Hanssen, Chief Commercial Officer, has subscribed for a total of 20,000
shares. Following the transaction Enok Hanssen and close associates hold 260,000
shares, 263,266 share options and 800,000 warrants in Morrow Bank ASA.

- Henning Fagerbakke, Head of Finance, has subscribed for a total of 100,000
shares. Following the transaction Henning Fagerbakke and close associates hold
481,916 shares and 45,271 share options in Morrow Bank ASA.

Please see the notification form for the transactions attached to this release.

For further information, contact ir@morrowbank.com: 

Øyvind Oanes, CEO Morrow Bank ASA 
+47 989 06 060 
Eirik Holtedahl, CFO Morrow Bank ASA
+47 969 12 291