SpareBank 1 and Swedbank are entering a partnership to create a leading Nordic
investment bank. Swedbank's Corporate Finance and DCM High-Yield operations will
be incorporated into SpareBank 1 Markets (SB1M), while SB1M will extend its
equity research and equity sales to Sweden. Swedbank will take a 20 per cent
ownership stake in SB1M, and the latter will change its name to SB1 Markets.

"This is a significant milestone for SB1M. By combining our strengths and
markets, we will be able to take our partnership to the next level. Together we
will become a truly competitive player on the Nordic market," says Stein Husby,
Chief Executive Officer of SB1M.

SM1M and Swedbank`s strategic partnership began in 2022 through Swedbank's offer
of corporate finance and high-yield services in Norway. This next step is in
line with Swedbank's strategy of driving sustainable long-term growth and
improving client offerings through high-quality partnerships. The banks'
combined resources and distribution will create a range of opportunities for
clients in the Nordic region. 

"Through the new expansion, Swedbank's corporate clients will have access to
broader and deeper sector competence and larger investment banking teams. Our
clients will also benefit from improved cross-border capabilities, broader
equity research in Sweden and Norway, and a wider distribution capacity through
the banks' networks and the Savings Banks alliances," says Bo Bengtsson, Head of
Corporates and Institutions at Swedbank.

The jointly owned Nordic investment bank will employ approximately 240
professionals, including about 35 employees from Swedbank's Corporate Finance
and DCM High Yield teams. The business will operate in Sweden, Norway and the
United States. 

The transaction is subject to approval from the Norwegian financial supervisory
authority, and the Swedish FSA has been informed. The collaboration is expected
to be operational by the third quarter of 2025. The parties have agreed not to
disclose the value of the transaction.

Once the transaction has been completed, SpareBank 1 Nord-Norges ownership in
SB1M will after the transaction be 14,45%. SpareBank 1 SMN, SpareBank 1
Sør-Norge and Swedbank will respectively own 31.9 %, 28.1 %, 20.0 % of SB1M.

The financial effect of the transaction is limited and will not be determined
before the transaction is closed, probably September 1st, 2025.

Contacts: 

o CFO Bengt Olsen, phone (+47) 975 89 560