Schibsted ASA (SCHA/SCHB) - Renewed TRS agreement in Adevinta ASA

Today, Schibsted extended the duration of its total return swap ("TRS") agreement with Danske Bank A/S ("Danske") with financial exposure to 36,748,289 shares in Adevinta by terminating the TRS agreement announced on 30 May 2023, and entering into a new TRS agreement. The expiry date of the new TRS agreement is 13 December 2024.

The price in the new TRS agreement is NOK 111.80 per share giving Schibsted a positive cash effect of approx. NOK 1.2 billion as the price of the terminated contract was lower at NOK 78.65 per share.

Schibsted’s financial exposure remains unchanged with the new TRS agreement. Schibsted currently holds 344,803,374 shares in Adevinta (equal to approx. 28.15% of Adevinta's issued shares and approx. 29.58% of the votes). In addition, Schibsted has a financial exposure to 36,748,289 shares (approx. 3% of the shares in Adevinta) under the TRS.

Oslo, 1 December 2023
SCHIBSTED ASA