Elopak ASA

Transaction in Own Shares • Jun 8, 2022

Elopak ASA – Buyback of shares in connection with its long-term incentive plan

Elopak ASA – Buyback of shares in connection with its long-term incentive plan

Elopak ASA (the "Company", ticker: "ELO") initiates a share buyback of up to 110 000 shares in connection with its long-term incentive plan for executive management. The share-buy-back will start today and will be terminated on 13 June 2022 at the latest.

The purpose of the buyback is to fulfil the Company's obligations under its incentive programs, and thus to acquire shares that can be sold to employees in connection with the Company's long-term share incentive plan for the senior management and other employees.

The Company may acquire up to 110 000 shares for a total purchase amount of approximately NOK 1.7 million (based on the closing price on 31 May 2022) and the maximum number of shares to be purchased is thus 110 000 shares. Buying will take place in tranches, with daily purchases limited to a maximum of 25% of the average daily volume traded (average daily volume traded for Elopak's shares in May 2022 was 406 000). The Company will report its purchases every seventh day until 13 June 2022 or until the volume of shares has been reached.

The buyback of shares will be done on the basis of the board authorisation to acquire own shares granted by the Company's annual general meeting on 12 May 2022.

All acquisitions under the buyback programme will be executed on Euronext Oslo Børs. The execution of any repurchases will depend on market conditions, the buyback programme may be discontinued at any time and the Company may resolve to terminate the buyback programme before the threshold set above is reached.

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

For more information, please contact:

Investors: Thomas Askeland, Head of IR, Tel: +47 992 34 557, Thomas.askeland@elopak.com

About Elopak ASA:

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 2,700 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.

This stock exchange announcement was published by Thomas Askeland, Investor Relations in Elopak ASA on 8 June 2022 at 07:00 am CEST.