Endúr ASA – Mandatory notification of trade by close associates of primary insiders, disclosure of large shareholding and share lending

12 January 2023: Reference is made to the stock exchange notice made by Endúr ASA (the "Company") on 12 January 2023 (the "Announcement") regarding the successful completion of a private placement raising gross proceeds of approximately NOK 140 million (the "Private Placement"), at a price per share of NOK 27.50 (the "Offer Price"). All terms used in this notice shall have the meaning ascribed to such terms in the Announcement. The following primary insiders/close associates of primary insiders have been allocated shares in the Private Placement at the Offer Price: - Råbjørn AS, a company closely associated with Jeppe Raaholt, CEO, has been allocated 22,000 shares; - Einar Olsen, CFO, has been allocated 4,500 shares; - Poca Invest AS, a company closely associated with Pål Reiulf Olsen, chairman of the board, has been allocated 36,363 shares; - Jörn Ryberg Holding AB, a company closely associated with Jörn Ryberg, board member, has been allocated 185,454 shares; and - Artec Holding AS, a company closely associated with Bjørn Finnøy, board member, has been allocated 1,597,593 shares, with settlement of its allocation of Offer Shares in Tranche 2. Furthermore, to facilitate delivery-versus-payment settlement to investors in the Private Placement, Artec Holding AS has lent existing shares to the Managers, pursuant to a share lending agreement as further detailed in the Announcement. Prior to completion of the Private Placement, Artec Holding AS has holds 7,643,641 shares in the Company (representing approximately 27.84% of the issued share capital and votes). To facilitate the settlement of Offer Shares in Tranche 1, Artec Holding AS has lent 2,599,999 shares to the Managers. During the term for the share loan, and prior to the redelivery (as described below), Artec Holding AS' shareholding in the Company has been reduced to 5,043,642 shares, equivalent to approximately 16.78% of the issued share capital and votes following registration of the new share capital pertaining to the issuance of the Offer Shares in Tranche 1. Consequently, Artec Holding AS has fallen below the 20% threshold pursuant to section 4-2 (1) and (3) of the Norwegian Securities Trading Act. Based on the Board Authorization, the Board has resolved to issue the 2,599,999 Offer Shares in Tranche 1, all of which will be subscribed by the Managers and, once issued, redelivered to the Artec Holding AS as settlement of shares borrowed in relation to settlement of Tranche 1. Upon exercise of the Managers' share lending option in relation to settlement of Offer Shares in Tranche 2, if applicable, relevant changes in Artec Holding AS' shareholding will be published in a separate stock exchange notice. See the enclosed forms for further details about the transactions of the primary insiders/close associates of primary insiders. For further information, please contact: Media – Jeppe Raaholt, CEO, tel: +47 976 69 759 Investors – Einar Olsen, CFO, tel: +47 924 01 787 ABOUT ENDÚR Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialised project and marine services. Endúr ASA is headquartered in Lysaker, Bærum, Norway. See www.endur.no This information is subject to the disclosure requirements pursuant to section 4-3 of the Norwegian Securities Trading Act.