Elmera Group ASA

Transaction in Own Shares • May 5, 2022

Elmera Group ASA – Initiation of Share Buyback Program

Elmera Group ASA – Initiation of Share Buyback Program

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION

Elmera Group ASA (the "Company") has today engaged DNB Markets, part of DNB Bank ASA (the "Manager") to conduct a buyback of own shares.

The share buyback program is in accordance with the power of attorney granted to the Board by the Annual General Meeting of the Company held on 26 April 2022.

The program's purpose is to: (i) fulfil obligations arising as a result of the Group's share option program, and (ii) to redeem (i.e. cancel) shares by way of a share capital decrease in the Company, subject to approval from the Company's general meeting.

The maximum pecuniary amount allocated to the program is NOK 200,115,650.

The share buyback program will be for a maximum of 5,717,590 shares, equivalent to 5.0% of the share capital in the Company.

The buyback program will commence on 5 May 2022 and is expected to end no later than 31 December 2022.

The number of shares acquired per day shall not exceed 264,000 shares, representing 25% of the average daily trading volume in April 2022 (excluding reported trades not matched via the stock exchange's electronic order book) of 1,056,002 shares.

The buyback program will be carried out by way of repurchases on Oslo Børs. The Manager will make its trading decisions independently of, and uninfluenced by, the Company.

DISCLOSURE REGULATION

The share buyback program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation"). This is information made public by the Company pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

CONTACTS

Birte Strander, CFO, +47 41 41 84 16,

Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 97 06 25 26,