Transfer of Supervisory Tasks for Disclosure Obligations and Takeovers from Oslo Børs to Finanstilsynet

Revierstredet 3
P.O. Box 1187 Sentrum
NO-0107 Oslo
Tel. +47 22 93 98 00 post@finanstilsynet.no finanstilsynet.no Issuers of shares, equity certificates and bonds on Euronext Oslo Børs, Euronext Expand and Euronext Growth Oslo Our reference 25/3752 21 March 2025 Transfer of supervisory tasks from Oslo Børs to Finanstilsynet and implications for issuers 1 Introduction Supervision of the ongoing disclosure obligation and delayed disclosure of inside information, supervision of share buy-backs and stabilisation, as well as the responsibility as takeover supervisory authority, will be transferred from Oslo Børs to Finanstilsynet. The supervisory tasks will be transferred with effect from 1 April 2025. The rules on the ongoing disclosure obligation, share buy-backs and stabilisation follow from the Market Abuse Regulation1 (MAR) and apply to issuers who have requested or approved admission of their financial instruments to trading on a regulated market (Euronext Oslo Børs and Euronext Expand) or on a multilateral trading facility (Euronext Growth Oslo). Chapter 6 of the Norwegian Securities Trading Act regulates the mandatory bid obligation and voluntary bids in the case of acquisitions by issuers listed on a regulated market and implements Directive 2004/25/EC on takeover bids in Norwegian law (the Takeover Directive). The stated marketplaces are operated by Oslo Børs. The rules concerning the various supervised sectors are not changed. However, the transfer of supervisory tasks will have implications for issuers as they will be obliged to notify Finanstilsynet as supervisory authority, not Oslo Børs, upon disclosure of inside information that has been subject to delayed disclosure under MAR. In addition, Finanstilsynet will follow up and sanction violations of the rules. This also applies to circumstances that have arisen prior to 1 April 2025. The significance of the transfer, including the practical implications for issuers with respect to the disclosure obligation, buy-back of shares and stabilisation, are described in more detail below. In addition, Finanstilsynet’s website will be updated with additional information on the new supervised sectors and relevant rules and regulations on 1 April 2025. 1 Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the ‘Market Abuse Regulation’) is implemented in the Securities Trading Act, cf. Section 3-1 of the Securities Trading Act.