Spar Nord Bank A/S

Management changes in Spar Nord Bank A/S

Management changes in Spar Nord Bank A/S

Agreements have been reached regarding the step down of Lasse Nyby and John Lundsgaard

In continuation of the completed voluntary takeover offer from Nykredit Realkredit A/S (Nykredit), whereby Nykredit acquired the majority shareholding in Spar Nord Bank A/S (Spar Nord), agreements have been entered into with the board of directors of Spar Nord, whereby Lasse Nyby will resign as CEO of Spar Nord and John Lundsgaard as managing director of Spar Nord.

Lasse Nyby and John Lundsgaard will both resign from Spar Nord's executive board no later than on 30 June 2025.

Kjeld Johannesen, chairman of Spar Nord's board of directors, says: "The agreed resignation is a natural extension of Nykredit's acquisition of the majority shareholding in Spar Nord today. Lasse Nyby and John Lundsgaard have both been part of the bank's executive board for more than 25 years. They both have a large share of the credit for Spar Nord's development from a regional bank to a nationwide bank today. This is the reason why Spar Nord is contributing with great strength to a new and merged bank that will be an attractive alternative to the largest listed banks. On behalf of the board of directors, we would like to express our gratitude to Lasse Nyby and John Lundsgaard for their great and dedicated work."

Questions may be directed to Kjeld Johannesen on +45 40 19 15 55.

Attachment

• No. 17 - Management changes in Spar Nord Bank AS