Bank Norwegian ASA (BBB (Watch Neg.) by S&P), has mandated Nordea and Swedbank to arrange investor presentations today 27 October 2021 at 10.00 CET and at 14:00 CET, where one or more senior preferred bond issues in NOK and/or SEK with tenors 2-3 years may follow. Bond issues with call options will be considered.

In conjunction with the potential bond issues, the company will consider buybacks of BANKN23 (ISIN: NO0010848591) maturing 29 March 2022, BANKN24 (ISIN: NO0010863574) maturing 16 September 2022, BANKN25 (ISIN: NO0010863582) maturing 16 September 2022, BANKN26 (ISIN: NO0010871130) maturing 12 December 2022 and BANKN27 (ISIN: NO0010871148) maturing 12 December 2022.

The potential issuance and buyback are part of Bank Norwegian's general funding and to cover MREL requirements. The contemplated issuance is subject to market conditions. Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIPPs key information document (KID) has been prepared as not available to retail in EEA and the UK.

For any questions please contact:

Interim CEO and CFO Klara Lise Aasen; phone +47 47635583; kaa@banknorwegian.no

Head of Treasury Mats Benserud; phone +47 95891539; mbe@banknorwegian.no

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act