Completion and final result of the voluntary offer

The Danish Financial Supervisory Authority Nasdaq Copenhagen A/S  

18 July 2017  

 Completion and final result of the voluntary offer

Further to the announcements of 12 June 2017 and 19 June 2017 regarding publication of voluntary offer, it is hereby announced that Vestjysk Bank A/S has today received the attached announcement regarding completion and final result of the voluntary offer to the shareholders of Vestjysk Bank A/S by the group of investors comprising Aktieselskabet Arbejdernes Landsbank, AP Pension Livsforsikringsaktieselskab, the C.L. David Foundation and Collection, Fondsmæglerselskabet Maj Invest A/S as representative of various investors, ISP Pension, Novo A/S, Nykredit Realkredit A/S and Vestjylland Forsikring gs.

The voluntary offer is completed in extension of expiry of the offer period on 18 July 2017, at 16.00 (Danish time), and as a consequence of all conditions in the voluntary offer being fulfilled.

As stated, settlement of the offer towards the shareholders who have accepted the offer is expected to take place on Friday 21 July 2017.

Publication of this announcement regarding completion and final result of the offer is made pursuant to section 21(3) of the executive order no. 562 of 2 June 2014 on takeover bids. Vestjysk Bank A/S Vagn Thorsager chairman of the board of directors

Vestjysk Bank A/S Torvet 4-5 DK-7620 Lemvig Denmark Phone +45 96 63 20 00 CVR no. 34631328 www.vestjyskbank.dk

This announcement is not an offer or a solicitation to sell or buy securities in Vestjysk Bank A/S. The voluntary offer is made neither directly nor indirectly in any jurisdiction where this would constitute a violation of legislation within said jurisdiction. This announcement and other documents regarding the offer may not be sent, forwarded or distributed in any other way within a jurisdiction where this would constitute a violation of legislation within said jurisdiction and in the excluded jurisdictions USA, Canada, Japan, Australia, Hong Kong and South Africa. The voluntary offer is made solely on the basis of the offer document prepared and published by the investors as described above. The offer document will contain the complete terms and conditions of the voluntary offer. Shareholders in Vestjysk Bank A/S are recommended to read the offer document and any associated documents as these will contain important information regarding the voluntary offer. Shareholders are advised that this announcement does not constitute a recommendation or statement from the board of directors of Vestjysk Bank A/S regarding the voluntary offer pursuant to Section 23 of the Executive Order on Takeover Bids.

This announcement does not constitute an offering circular and nothing herein contains an offering of securities. Any offering of securities will only be made in accordance with applicable rules for such offerings, including, but not limited to, directive 2003/71/EF (as amended and together with any applicable implementing measures in any EEA member state, the "Prospectus Directive"), and no one should purchase or subscribe for any securities in Vestjysk Bank A/S, except on the basis of information in any offering circular, or pursuant to applicable exemptions to the Prospectus Directive.

Matters discussed in this release constitute or may constitute forward-looking statements. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond the company’s control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.