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

Oslo, 18 March 2023: Pareto Bank ASA (the "Company") hereby launches an offer to
buy back existing shares in the Company for an amount up to NOK 9,833,056 (the
"Offering"). The purpose of the Offering is to meet obligations arising from the
Company's bonus scheme and employee share purchase program. The Company has
mandated Pareto Securities AS (the "Manager") to assist with the Offering.

The Offering will be conducted as a reverse bookbuilding process in which all
existing shareholders in the Company are invited to offer shares at a price
level defined by the respective selling shareholder by contacting the Manager
(see contact details below). 

The final purchase price per share will be set based on the sales orders
received at a level representing a satisfactory price and offering volume (to be
determined by the Company at its sole discretion). The final purchase price will
be identical for all selling shareholders.

The reverse bookbuilding period commences today at 09:00 hours (CET) and is
expected to close at 16:30 hours (CET) on 19 March 2024. Notification of
allocation and pricing is expected to be made before 09:00 hours (CET) on 20
March 2024 (T), and settlement is expected to take place on or about 22 March
2024 (T+2) on a delivery versus payment basis (DVP).

The Company may, at its sole discretion, extend or shorten the reverse
bookbuilding period at any time and for any reason without notice. If the
reverse bookbuilding period is extended or shortened, the other dates referred
to herein might be changed accordingly.

Existing shareholders in the Company wishing to participate in the Offering can
contact the Manager at +47 22 87 87 50 in order to place a sales order. Existing
shareholders in the Company who would like to participate in the Offering who
are not registered as clients of the Manager must establish a client
relationship before participating.

In the event that the total volume offered by selling shareholders in the
Offering exceeds the final offering size at or below the final offering price,
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 Offering at or below the final purchase price.

The Company reserves the right to, at its own discretion, amend the offering
size, or to reject all received offers in the contemplated Offering. The Company
may further, at its sole discretion terminate, amend or withdraw the Offering at
any time until the notification of allocation. 

For further information, please contact: 

Pareto Securities AS, +47 22878750

CEO, Tiril Haug Villum, +47 92256432

CFO, Erling Mork, +47 91195970

IMPORTANT NOTICE 

The Offering will be carried out in accordance with applicable laws and
regulations and information pertaining to the Offering will be disclosed by way
of stock exchange notices. 

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 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.