Elopak ASA

M&A Activity • Feb 22, 2023

Elopak ASA – Closing of sale of Russian subsidiary and full divestment of Russian operations

Elopak ASA – Closing of sale of Russian subsidiary and full divestment of Russian operations

Oslo, February 22, 2023: Reference is made to the stock exchange announcement published by Elopak ASA ("Elopak" or the "Company") on July 15, 2022, where the Company announced that they had reached an agreement for the sale of all of Elopak's shares in its Russian subsidiary, JSC Elopak, and the subsequent status update for the transaction provided in a separate stock exchange announcement published by the Company on December 30, 2022.

Elopak now announces that the transaction has been completed, and Elopak has thus finalized its divestment of its Russian operations. Receipt of the purchase price remains pending the due dates for the various instalments.

Contacts:

Mirza Koristovic, Head of Investor Relations at +47 93 87 05 25 or investors@elopak.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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 member. We have set Science Based Targets to reduce emissions in line with the 1.5 degree trajectory, and aim to be Net-Zero by 2050. In 2021, we achieved a platinum rating by EcoVadis making Elopak top 1% sustainable companies in the world.

For more information, go to elopak.com or follow us @Pure_Pak on Twitter and @Elopak on LinkedIn