Elopak ASA

Regulatory Filings • Mar 3, 2022

ELOPAK ASA: UPDATE ON ELOPAK’S BUSINESS IN RUSSIA AND UKRAINE

ELOPAK ASA: UPDATE ON ELOPAK’S BUSINESS IN RUSSIA AND UKRAINE

(Oslo, 2 March 2022) Elopak has observed with great concern and sadness the escalating conflict in Ukraine.

Our over-riding concern is for the safety and wellbeing of our 336 employees across the two countries, and in particular the staff in our office in Kyiv and at our site in Fastiv, Ukraine. We are monitoring the evolving situation closely and have established a crisis response team to ensure careful management of all related risks and issues.

As a result of the escalating situation in both Ukraine and Russia, Elopak has found it difficult to continue our business operations in both St. Petersburg and Fastiv.

In the given circumstances, Elopak is invoking force majeure for Russian and Ukrainian customers and consequently we will not be able to meet our current supply obligations. We understand that this will have unfortunate consequences for our customers, and we will communicate with them directly to keep them fully updated on the situation. Elopak’s total revenue in Russia and Ukraine in 2021 was 73 mEUR and 11 mEUR respectively.

We will revert with further updates by the end of this week.

Contacts:

Media: Patrick Verhelst, Chief Marketing Officer, Patrick.verhelst@elopak.com, +47 915 14 102

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

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 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.