Sparebanken Møre refers to the stock exchange announcement published on 5 July
2024 regarding notification of an order for correction from The Norwegian
Financial Supervisory Authority (Norwegian FSA). Sparebanken Møre has this
evening received an order for correction from the Financial Supervisory
Authority of Norway in the case, and the order for correction is in line with
the former notification.

The Norwegian FSA has assessed the bank's practice for accounting of unpaid
gifts for non-profit purposes as other liabilities in the bank's balance.
Sparebanken Møre understands that the FSA believes that funds that have been set
aside for gifts, but which have not been decided to be distributed to gift
recipients at the turn of the year, should be transferred to the gift fund and
not booked as other debts. The FSA is also of the opinion that the result of the
bank's practice is that the equity certificates share over time has received too
large a share of the profit. If the funds had been injected into the bank's gift
fund, this would have resulted in a lower ownership fraction in previous years
than what has been assumed for the distribution of profits and dividend funds. 

It is stated in the order that corrections shall be made in the following way:

1. The Bank must recalculate the ownership fraction as it would have been at the
end of the years 2014 to 2023. In the calculation, the structural fund and
unpaid gifts that have not been decided must be included in the primary capital.
2. The primary capital's share of the surplus available for use in each year is
calculated using the ownership fraction as calculated in item 1.
3. The sum of the difference between the actual allocation of surplus to the
primary capital and the calculated allocation pursuant to item 2 for the period
2014 to 2023 shall be added to the primary capital before the result for 2024 is
allocated in the ordinary manner.

In line with the notification, the bank has submitted calculations to Norwegian
FSA's showing that the effect of the order will entail a transfer to primary
capital of NOK 132.4 million. Based on the figures from the end of 2023, the
ownership fraction will then amount to 48.7.

The decision from the Norwegian FSA can be appealed within three weeks of
receiving the decision. The bank will consider whether to appeal the decision.

The Bank has today also received approval of the Bank's application to amend the
bank's Articles of Association. 

With regard to the bank's application for permission to establish a savings bank
foundation, the Norwegian FSA has asked for the bank's assessment of certain
comments. The application will be processed as soon as the Norwegian FSA
receives the bank's assessment of these.

Contact persons:

o Trond Lars Nydal, CEO, tlf. +47 951 79 977
o John Arne Winsnes, CFO, tlf. +47 462 80 999
o Runar Sandanger, Senior Economist, tlf. +47 950 43 660

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 Karen Sofie Synnes, Senior Advisor
Administration of Sparebanken Møre on 25 October 2024 at the time stated in the
notification. 

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.
The Bank does not undertake any obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of this
announcement.