Sparebanken Sør (SOR): Allocation of equity capital certificates to primary insiders in the Offering

Reference is made to former stock exchange announcements regarding Sparebankstiftelsen Sparebanken Sør's ("the Foundation") sale of equity capital certificates in Sparebanken Sør (the "Bank") through an institutional offering (the "Institutional Offering"), a retail offering (the "Retail Offering") and an employee offering (the "Employee Offering", and together with the Institutional Offering and the Retail Offering referred to as "the Offering") as further described in the prospectus published 20 November 2023 ("the Prospectus"), and stock exchange notices of 21 November 2023, 23 November 2023, 24 November 2023 and 27 November 2023 regarding primary insiders' application of ECCs in the Offering. Definitions used in this stock exchange notice shall have the same meaning as similar definitions used in the Prospectus. On 27 November 2023 the board of directors of the Foundation allocated ECCs applied for in the Institutional Offering and the Retail Offering and determined the final offer price to NOK 125 per ECC. The Bank was allocated 345 767 ECCs through the Offering. The administration of the Bank has on this basis and after authorization from the board of directors of the Bank, allocated ECCs to employees in the Employee Offering. Each eligible employee (as defined in the Prospectus) will receive a discount in the Employee Offering of 30 per cent on the aggregate amount payable by such employee for the allocated Offer ECCs, limited to a maximum discount of NOK 60,000 per eligible employee. The Offer ECCs allocated in the Employee Offering below an application amount of NOK 200,000 will be subject to a lock-up obligation of 3 years. Primary insiders' application for and allocation of ECCs in the Retail Offering, have been made on the same terms and conditions as for other investors, as described in the Prospectus. The ECCs allocated to primary insiders in the Employee Offering are from the Banks own holding of ECCs acquired through the Offering and according to the sales agreement between the Foundation, Sparebanken Sør and the Managers. For more information, please see attached. Contact persons in Sparebanken Sør: CEO, Geir Bergskaug, tel.: +47 901 27 206 CFO, Steinar Vigsnes, tel.: + 47 906 13 135 This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation Article 19 and Section 5-12 of the Norwegian Securities Trading Act.