ELOPAK ASA: Grant of awards under the Long Term Incentive Plan

(Oslo, 14 June 2022) In connection with the long term incentive plan ("LTIP"), Elopak ASA ("Elopak" or the "Company") has granted primary insiders with awards under the LTIP, comprising a right to a cash amount to purchase shares in Elopak. The awards comprise a maximum cash amount, which is determined by the achievement of performance targets for the financial year ended 31 December 2021 as determined by the board of directors. The cash amount, less applicable taxes, must be used to acquire restricted shares in Elopak. Shares under the LTIP will be acquired at a 20% discount and will be subject to a three-year lock-up. Copies of notification of each of the persons discharging managerial responsibilities ("PDMRs") for the LTIP awards are attached hereto. This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act. For further information: Thomas Askeland, Head of IR, Thomas.askeland@elopak.com, +47 992 34 557 About Elopak Elopak is a leading global supplier of carton packaging and filling equipment. The company's iconic Pure-Pak® cartons are made using renewable, recyclable, and sustainably sourced materials, providing a natural and convenient alternative to plastic bottles that fits within a low carbon circular economy. Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today it employs 2,600 people and sells in excess of 14 billion cartons annually across more than 70 countries. Elopak is a UN Global Compact participant with a platinum EcoVadis rating and has been carbon neutral since 2016. For more information, go to elopak.com or follow us @Pure_Pak on Twitter and @Elopak on LinkedIn.