NOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA AND JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE PRIOR APPROVAL Reference is made to the offer document dated 5 August 2021 (the "Offer Document") for the recommended voluntary offer by Nordax Bank AB (publ) ("Nordax" or the "Offeror") to acquire all outstanding shares in Bank Norwegian ASA (the "Company") against a consideration in cash of NOK 105 per Share (subject to adjustment as set out in the Offer Document) (the "Offer Price") (the "Offer"). The offer period for the Offer (the "Offer Period") expired at 16:30 hours (CEST) on 15 October 2021. At expiry of the Offer Period, the Offeror had received acceptances of the Offer for a total of 130,136,243 shares, representing approximately 69.63% of the outstanding shares and votes in the Company. In addition, the Offeror holds 6,313,456 shares in the Company representing approximately 3.38% of the shares and votes in the Company and pursuant to the contribution agreements as further set out under section 1.16 (Contribution Agreements) of the Offer Document, has conditionally agreed to acquire 42,472,603 shares, representing approximately 22.72% of the shares and votes in the Company, and together with the received acceptances in the Offer representing a total of approximately 95.73% of the shares and votes in the Company. The calculation of the number of Shares tendered in the Offer is preliminary and remains subject to potential adjustments through a verification process currently being undertaken by the receiving agent for the Offer. The final result of the Offer will be announced once confirmed by the receiving agent. The completion of the Offer remains subject to fulfilment or waiver by the Offeror (in its sole discretion) of the closing conditions set out in the Offer Document, other than the Minimum Acceptance condition as fulfilled on 8 September 2021, and the Regulatory Approvals Condition as fulfilled on 30 September 2021. None of the conditions that refers to events that shall not occur have, to the Offeror's knowledge, occurred. The complete terms and conditions for the Offer, including detailed information regarding settlement, are set out in the Offer Document. Settlement of the Offer shall take place no later than on 4 November 2021, subject to the closing conditions for the Offer as further set out in section 1.6 (Conditions to the Offer) in the Offer Document being fulfilled or waived, until settlement of the Offer. Detailed information regarding settlement is further set out in the Offer Document. For further information on the Offer, visit www.collaborate-to-scale.com. Advisors ABG Sundal Collier, DNB Markets, Goldman Sachs International and Melesio are acting as financial advisors to Nordax in the process. FCG Risk & Compliance AB is acting as advisor on governance, risk and compliance to Nordax. Advokatfirman Cederquist KB is acting as Swedish legal counsel and Advokatfirmaet Wiersholm AS is acting as Norwegian legal counsel to Nordax. Media relations Oscar Karlsson, Brunswick Group firstname.lastname@example.org +46 709 62 78 42 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. Important notice This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. This press release and any related documentation are not being distributed and must not be mailed or otherwise distributed or sent in or into any country in which the distribution would require any such additional measures to be taken or would be in conflict with any law or regulation in such country - any such action will not be permitted or sanctioned by Nordax. Forward-looking information Statements in this press release relating to future status and circumstances, including statements regarding future performance, growth and other projections and whether the Offer will be completed, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as "anticipates", "expects", "believes", or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Nordax. Any such forward-looking statements speak only as of the date on which they were made and Nordax has no obligation (and undertakes no such obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except for in accordance with applicable laws and regulations.