Update regarding expected timing of merger between Nordax Bank AB (publ) and Bank Norwegian ASA

As previously announced, Nordax Bank AB (publ) (rated BBB/N3/Stable from Nordic Credit Rating) and Bank Norwegian ASA are in the process of implementing an intragroup merger between the companies. As announced on 1 November 2022, all necessary regulatory approvals to complete the merger have been obtained. As of today, all consents and approvals have been obtained from relevant third parties. The merger will be implemented with Nordax Bank AB (publ) as the surviving company and Bank Norwegian as the transferring company.

The merger is expected to be completed on or about 30 November 2022.

Contact persons:

CEO, Klara-Lise Aasen; phone +47 47 63 55 83; kaa@banknorwegian.no

CFO, Mats Benserud; phone +47 95 89 15 39; mbe@banknorwegian.no

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