Rana Gruber ASA: Notification of trade by closely associated party to primary insider

Oslo, Norway, 20 December 2023: Reference is made to the press release dated 15th December 2023 where Hi Capital AS, a subsidiary of Hospitality Invest AS, acquired 20% of Leonhard Nilsen & Sønner - Eiendom AS (“LNS”). LNS is one of Norway’s leading companies within tunnelling, mining and infrastructure and the largest shareholder in Rana Gruber ASA with ~20.5% ownership of the outstanding shares. Through the acquisition of LNS, Hi Capital AS increased its direct and indirect ownership in Rana Gruber ASA to ~10.1%. Consequently, Hi Capital AS has today sold 1 100 000 shares in Rana Gruber ASA, where Kristian A. Adolfsen is a board member and primary insider. The shares were sold at a price of NOK 75.5 per share. After the transaction, Hi Capital AS holds 1 124 465 shares, totaling ~3% of the outstanding shares. Following both transactions, Hi Capital AS has thus increased its total direct and indirect ownership in Rana Gruber from ~6.0% to ~7.13%. This information is subject to the disclosure requirements in article 19 of Regulation EU 596/2014 (The EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.