Bank Norwegian: Publication of a significant stake by Nordax

Nordax Bank AB (publ) ("Nordax") has today acquired 3,442,865 shares in Bank
Norwegian ASA (the "Company").  Following the acquisition, Nordax holds
6,313,456 shares in the Company, corresponding to 3.38% of the Company's share
capital and voting rights and together with its close associates, on a
consolidated basis, an aggregate of 48,786,059 shares in the Company,
corresponding to 26.10% of the Company's share capital and voting rights,
thereby crossing the 25% major shareholding threshold in the Company on a
consolidated basis.

Nordax has, pursuant to contribution agreements as further set out under section
1.16 (Contribution Agreements) of the offer document for the recommended
voluntary offer for all shares in the Company (the "Offer"), dated 5 August
2021, as amended, conditionally agreed to acquire 42,472,603 shares,
representing 22.72% of the shares and votes in the Company, equivalent to the
total holding of shares in the Company held by Nordax' close associates.

Nordax has through the Offer received acceptances for 117,703,465 shares,
corresponding to 62.98% of the Company's share capital and voting rights.
In aggregate, when Nordax shares and rights to shares are taken together, this
represents a total of 166,489,524 shares in the Company, equivalent to 89.08% of
the Company's share capital and voting rights.

This announcement is made pursuant to section 4-2 of the Norwegian Securities
Trading Act.

About Nordax

Nordax Bank AB (publ) is a leading specialist bank in Northern Europe owned by
Nordic Capital Fund VIII and Sampo. Nordax has around 287,000 private customers
in Sweden, Norway, Finland, Denmark and Germany. We are a specialist bank that
through responsible lending helps people make informed decisions for a life they
can afford. We are a flexible complement to the major banks. Instead of
quantity, we have specialised in a few selected products that we know best:
personal loans, mortgages, equity release products and savings accounts. Since
2019, Svensk Hypotekspension, which is a specialist in equity release products,
is a wholly owned subsidiary of Nordax. Nordax has around 350 employees,
practically all of whom work from a central office in Stockholm. The credit
assessment process is one of Nordax's core competencies. It is thorough, sound
and data driven. Nordax's customers are financially stable. As of 30 June 2021,
lending to the public amounted to SEK 30.1 billion and deposits amounted to SEK
28.4 billion.

Read more about Nordax on http://www.nordaxgroup.com.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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