Bank Norwegian ASA BBB-/A-3 S&P Global Ratings Withdrawn At The Issuer's Request

At Bank Norwegian ASA’s request, S&P Global Ratings has withdrawn its BBB-/A-3 long- and short-term issuer credit ratings of Bank Norwegian ASA. The outlook was stable at the time of the withdrawal.

Please find the latest rating updates at https://www.banknorwegian.no/omoss/investorrelations/ratings/.

As previously announced, latest on 1 November 2022, Nordax Bank AB (publ) and Bank Norwegian ASA are in the process of implementing an intragroup merger between the companies. All necessary regulatory approvals to complete the merger have been obtained. The merger will be implemented with Nordax as the surviving company and Bank Norwegian as the transferring company. The merger will be executed as soon as possible, on 30 November 2022 at the earliest, and during Q1 2023 at the latest.

Nordax Bank AB (publ) has BBB/N3 long- and short-term issuer ratings from Nordic Credit Rating, with a stable outlook. The combined company will be the largest independent specialist consumer finance lender in the Nordics. It will have the necessary scale and resources to be a leading force in shaping the future of consumer finance, offering innovative solutions that will challenge the large incumbent banks for the benefit of customers.

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