BEWI ASA - Mandatory notification of trade and disclosure of large shareholding

Frøya Invest AS, a large shareholder and close associate to CEO Christian Bekken and board member Stig Wærnes of BEWI ASA, announce intra-group restructurings of ownership and consequently reports notification of trades and disclosure of large shareholding. Oslo Børs has granted an exemption from the mandatory bid obligation pursuant to section 6-2 (3) of the Norwegian Securities Trading Act, based on the consideration that the intra-group reorganization of ownership in BEWI does not involve a change of control or is part of a chain of transactions that may constitute a change of control. On 19 November 2021, Frøya Invest AS and EBE Eiendom AS entered separate agreements with KMC Family AS to merge, whereas KMC Family AS is the surviving entity. Subsequent to completion of the merger, KMC Family AS, a close associate to CEO Christian Bekken and board member Stig Wærnes, will own 97 642 450 shares and votes, equal to 62.35% (including the forward contract of 6 779 661 shares, as further referred to below) in BEWI ASA directly. The shares will be deemed transferred at the closing price of the shares of BEWI ASA on 19 November 2021. Following completion of the merger, Frøya Invest AS will no longer hold shares in BEWI ASA. Reference is furthermore made to the announcement made on 27 August 2021 by Frøya Invest AS, close associate to CEO Christian Bekken and board member Stig Wærnes, whereby Frøya Invest AS notified a purchase of a total of 6 779 661 shares in BEWI. The transaction was financed by way of a forward contract. This forward contract was on 19 November 2021 rolled on the same terms. Following this transaction, Frøya Invest AS, holds 97 642 450 shares and votes in BEWI ASA, equal to 62.35%. Please see the attached notifications in accordance with MAR article 19. For further information, please contact: Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959