The merger of SpareBank 1 Østlandet and Totens Sparebank has been approved by
the meeting of the Supervisory Board of SpareBank 1 Østlandet. A decision from
Totens Sparebank is expected later today.

Reference is made to the stock exchange notice of 15 January 2024, regarding the
decision by the boards of SpareBank 1 Østlandet and Totens Sparebank to adopt a
plan for merging the banks (merger plan), and the stock exchange notice of 26
January 2024, about the summons to an extraordinary meeting in the Supervisory
Board of SpareBank 1 Østlandet on 22 February 2024.

In the extraordinary meeting on 22 February 2024, the Supervisory Board of
SpareBank 1 Østlandet has approved the merger of the banks by transferring the
assets, rights, and obligations of Totens Sparebank to SpareBank 1 Østlandet.

Reference is also made to the minutes from the meeting (in Norwegian) where the
decision was made in accordance with the summons.

The implementation of the merger is still conditional upon the necessary
approvals from the General Meeting in Totens Sparebank, expected later tonight,
as well as approvals from relevant supervisory authorities without imposing
conditions that significantly alter the assumptions that the banks have made
under the merger plan. 

The aim is to complete the merger on 1 October 2024.

Advisors
SpareBank 1 Østlandet has engaged SpareBank 1 Markets AS as financial adviser
and Advokatfirmaet Selmer AS as legal adviser in connection with the merger.
Totens Sparebank has engaged ABG Sundal Collier ASA as financial adviser and
Advokatfirmaet BAHR AS as legal adviser.

Contact Information:
Chair of the board: Siri J. Strømmevold, tel. + 47 414 44 712
CEO: Richard Heiberg, tel. + 47 902 06 018
CFO: Geir-Egil Bolstad, tel. + 47 918 82 071
Head of Investor Relations: Bjørn-Erik R. Orskaug, tel. + 47 922 39 185

The above information is subject to the requirements of announcement pursuant to
the Securities Trading Act section 5-12.