REG-Publication of exemption document in connection with the merger between Sydbank, Arbejdernes Landsbank and Vestjysk Bank

Sydbank A/SAnnouncement

Today 10:00

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 Company Announcement No 55/2025  Peberlyk 4 6200 Aabenraa Denmark   Tel +45 74 37 37 37 Fax +45 74 37 35 36   Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk  
 5 November 2025                                                                                                                                                    

Dear Sirs,

Publication of exemption document in connection with the merger between
Sydbank, Arbejdernes Landsbank and Vestjysk Bank

On 27 October 2025 Sydbank A/S (“Sydbank”), Aktieselskabet Arbejdernes
Landsbank (“AL”) and Vestjysk Bank A/S (“Vestjysk Bank”) announced
that they had agreed to merge with Sydbank as the continuing bank (the
“Merger”) under the name AL Sydbank. Reference is made to Sydbank’s
Company Announcement No 48 of 27 October 2025.

Sydbank has today published an exemption document (the “Exemption
Document”) which has been prepared with a view to issuing, providing and
allocating new shares in Sydbank as merger consideration in connection with
the Merger and so that such new shares can be admitted to trading and official
listing on Nasdaq Copenhagen. The Exemption Document contains relevant
information for eg the shareholders of the three participating banks,
including a description of the continuing bank, AL Sydbank, as well as certain
risk factors associated with the Merger.

The Exemption Document has been prepared in accordance with Danish legislation
and has been prepared as an exemption document in compliance with the
exemptions of Article 1(4)(g) and Article 1(5)(f) of the Prospectus Regulation
(EU) 2017/1129 (the “Prospectus Regulation") and in accordance with the
requirements of Commission Delegated Regulation (EU) 2021/528 (the
“Delegated Regulation”). The Exemption Document does not constitute a
prospectus within the meaning of the Prospectus Regulation and has not been
subject to scrutiny or approval by the Danish FSA as the relevant competent
authority in accordance with the Prospectus Regulation.

The Exemption Document will, subject to regulatory restrictions in certain
jurisdictions, be available from 5 November 2025 at sydbank.dk.

In accordance with the requirements of the Delegated Regulation, the Exemption
Document includes certain unaudited proforma financial information relating to
AL Sydbank which has been prepared and presented for the sole purpose of
giving an illustrative, estimated and hypothetical presentation of AL
Sydbank’s assets, equity and liabilities, financial position and operating
results as if the Merger had taken place as of 31 December 2024.

Important information
THIS COMPANY ANNOUNCEMENT MAY NOT BE DISCLOSED, PUBLISHED OR DISTRIBUTED, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, THE UNITED
KINGDOM, CANADA, SINGAPORE, THAILAND, MEXICO OR SWITZERLAND, EXCEPT AS
PERMITTED BY APPLICABLE LAW, OR IN ANY OTHER JURISDICTION WHERE SUCH
DISCLOSURE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Additional information
Louise Degn (Media)
Tel +45 20 28 81 18
louise.degn@sydbank.dk

Jørn Adam Møller (Investors)
Tel +45 61 63 55 30
jam@sydbank.dk

Yours sincerely

Sydbank A/S

Attachment
*     SM 55 UK
(https://ml-eu.globenewswire.com/Resource/Download/990d6a2d-34be-448e-8f7d-8f9356afbb4f)