OSLO, NORWAY: The Board of Directors of DNB Bank ASA has decided to initiate a share buy-back programme comprising up to 0.5 percent of the company’s own shares, which represents a total of 7,751,800 shares. The purpose of the buy-back programme is to optimise the company’s capital structure.

The buy-back programme was adopted based on an authorisation given by DNB Bank ASA’s Annual General Meeting last year, on 26 April 2022, and has been approved by the Financial Supervisory Authority of Norway.

Up to 5,116,200 shares will be bought back on trading venues, at a price of between NOK 10 and NOK 300 per share. The buy-back programme will, at the latest, end on 10 March 2023. A proposal will be made at this year’s Annual General Meeting, which will be held on 25 April 2023, to cancel the shares that have been bought back.

The remaining shares under the buy-back programme – up to 2,635,600 shares – will at the same Annual General Meeting be proposed redeemed from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. NFD’s shares will be redeemed at a price equal to the average price of the shares bought back on trading venues, with the addition of an interest compensation.

The buy-back programme will be carried out in accordance with the Market Abuse Regulation and the regulation regarding buy-back programmes and stabilization measures.