Bewi Invest AS

M&A Activity • Nov 2, 2021

BEWI - Launch of tender offer to acquire remaining shares in IZOBLOK

BEWI - Launch of tender offer to acquire remaining shares in IZOBLOK

Reference is made previous stock exchange releases about BEWI ASA's acquisition

of a majority stake of the listed Polish company IZOBLOK Spólka Akcyjna

("IZOBLOK"), a leading European provider of Expanded Polypropylene (EPP)

components to the automotive industry. BEWI currently (indirectly) owns 54.66

per cent of the shares, corresponding to 66.00 per cent of the voting rights in

IZOBLOK, and is now announcing its tender offer for all outstanding shares in

IZOBLOK.

The total number of shares subject to the tender offer is 574 481 shares,

corresponding to the remaining 45.34 per cent of the total outstanding shares,

and 34.00 per cent of the voting rights.

The price offered per share is PLN 50.41, amounting to a total consideration of

approximately EUR 6.4 million.

If BEWI succeeds in acquiring 100 per cent of the outstanding shares, the

company intends to delist the shares in IZOBLOK from trading on the Warsaw Stock

Exchange (WSE). A delisting of the shares requires a consent of the Polish

Financial Supervision Authority.

If BEWI in the tender offer acquires shares that, together with the shares

currently held by BEWI in, represent at least 95 per cent of the total number of

votes at the General Meeting of IZOBLOK, BEWI intends to conduct a squeeze-out

of the shares from the minority shareholders, pursuant to the applicable laws.

Key dates

*Announcement of Tender Offer: 2 November 2021

*Commencement of subscriptions: 10 December 2021

*Anticipated date of concluding the transaction of purchase of shares on WSE: 2

February 2022

*Anticipated date of settlement of the transaction of purchase of shares: 7

February 2022

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61

959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation

solutions. The company's commitment to sustainability is integrated throughout

the value chain, from production of raw materials and end goods, to recycling of

used products. With a vision to protect people and goods for a better every day,

BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with

the EU Market Abuse Regulation. The information was submitted for publication,

through the agency of the contact person set out above, at 17:25 CEST on 2

November 2021.