INSTA: UPDATE ON THE ACQUISITION OF INSTABANK BY LUNAR

Reference is made to Instabank ASA's ("Instabank") announcement on 29 June 2022
where Instabank gave an update on Lunar's acquisition of Instabank. In that
announcement, Instabank concluded that it was uncertain whether the offer made
by Lunar to Instabank's shareholders in the offer document dated 28 March 2022
would be completed by Lunar on the terms and conditions set out therein.
Lunar has now informed Instabank that Lunar's management deems it unlikely that
Lunar will be able to raise the required capital and complete the regulatory
approval process before the long-stop date for the offer of 30 September 2022.
As earlier communicated, Instabank notes that there are no conditions in Lunar's
offer relating to Lunar's capitalization or any capital raise by Lunar.
Instabank will continue to assess the situation and any steps to be taken by
Instabank to protect the interests of Instabank and its shareholders.