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Skandiabanken ASA : MANDATORY NOTIFICATION OF TRADE

Altor Invest 3 AS and Altor Invest 4 AS (the "Buyers") have today, 9 May 2017, acquired in the aggregate 86,082 shares in Skandiabanken ASA (the "Company") at an average price of NOK 78.78 per share. Following the acquisition, each of the Buyers holds 13,358,666 shares in the Company, in aggregate corresponding to 25% of the issued shares and votes in the Company. Altor Fund IV (No. 1) AB holds 100% of the shares in Altor Invest 3 AS and Altor Fund IV (No. 2) AB holds 100% of the shares in Altor Invest 4 AS. Altor Fund IV (No. 1) AB and Altor Fund IV (No. 2) AB are in turnultimately held 100% by Altor Holding AB through Altor Fund Manager AB. Following the acquisition, Altor Holding AB therefore indirectly holds 26,717,332 shares in the Company, corresponding to 25% of the issued shares and votes in the Company. Hugo Lund Maurstad represents Altor Holding AB on the board of directors of the Company.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.