Elopak ASA

Director's Dealing • Jun 8, 2021

Elopak ASA – Mandatory notification of trade from primary insiders

Elopak ASA – Mandatory notification of trade from primary insiders

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Oslo, 8 June 2021: In connection with the ongoing initial public offering (the "Offering") of shares in Elopak ASA ("Elopak" or the "Company"), the following primary insiders, including members of the Board of Directors and management of Elopak, applied for offer shares, and are guaranteed allocation of such offer shares:

• Jo Olav Lunder, Chairman, has, through his closely associated party Cigalep AS, applied for offer shares for a total amount of NOK 3,000,000.

• Sanna Suvanto-Harsaae, Board Member, has applied for offer shares for a total amount of NOK 400,000.

• Seyed Mehran Johari, Board Member, has applied for offer shares for a total amount of NOK 500,000.

• Anette Bauer Ellingsen, Board Member, has applied for offer shares for a total amount of NOK 30,000.

• Erlend Sveva, Board Member, has applied for offer shares for a total amount of NOK 30,000.

• Marius Wiklund, Board Member, has applied for offer shares for a total amount of NOK 50,000.

• Thomas Körmendi, Chief Executive Officer, has applied for offer shares for a total amount of NOK 2,500,000.

• Bent K. Axelsen, Chief Financial Officer, has applied for offer shares for a total amount of NOK 200,000.

• Patrick Verhelst, Chief Marketing Officer, has applied for offer shares for a total amount of NOK 250,000.

• Wolfgang Buchkremer, Chief Technology Officer, has applied for offer shares for a total amount of NOK 200,000.

• Nete Bechmann, Chief Human Resources Officer, has applied for offer shares for a total amount of NOK 100,000.

• Stephen D. Naumann, EVP Region Europe North & CIS, has applied for offer shares for a total amount of NOK 750,000.

• Finn Morten Tørjesen, EVP Region Europe South & New Markets, has applied for offer shares for a total amount of NOK 300,000.

• Ivar Jevne, EVP Material and Product Supply, has applied for offer shares for a total amount of NOK 450,000.

• Thomas Askeland, Head of IR, has applied for offer shares for a total amount of NOK 100,000.

The applications have been made according to the terms and conditions of described in Elopak's IPO prospectus dated 7 June 2021, prepared in connection with the IPO. The number of offer shares allocated to each primary insider will depend on the final offer price.

Reference is also made to the attached form of notification and public disclosure by persons discharging managerial responsibilities and persons closely associated with them.

This information is subject to the disclosure requirements in articles 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

Advisors

Goldman Sachs International and Skandiaviska Enskilda Banken AB (publ.), Oslo branch are acting as Joint Global Coordinators and Joint Bookrunners in the Offering, while ABG Sundal Collier ASA, Carnegie AS and DNB Markets, a part of DNB Bank ASA are acting as Joint Bookunners (together with the Joint Global Coordinators, the "Managers"). Advokatfirmaet Wiersholm AS is acting as Norwegian legal counsel to the Company and Freshfields Bruckhaus Deringer is acting as international legal counsel to the Company. Advokatfirmaet Schjødt AS is acting as Norwegian legal counsel to the Joint Global Coordinators, and Linklaters LLP is acting as international legal counsel to the Joint Global Coordinators.

For further information, please contact:

Thomas Körmendi, CEO

+47 94 82 95 88

Bent Kilsund Axelsen, CFO

+47 97 75 65 78

Thomas Haave Askeland, Head of IR

+47 99 23 45 57

About Elopak ASA

Elopak is a leading global supplier of carton packaging and filling equipment for liquid food, catering to both the fresh and aseptic segments. Elopak is a leading player in fresh in Europe and the Americas, and has a strong and growing presence in aseptic liquid carton packaging. Elopak is at the forefront of sustainable packaging. Elopak uses renewable, recyclable and sustainably sourced materials to provide innovative packaging solutions.

Important information

This document is not for publication or distribution in the United States of America (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Japan or Australia or any other jurisdiction into which the same would be unlawful. This document does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction into which the same would be unlawful. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States of America or to publications with a general circulation in the United States of America. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold in the United States of America absent registration under or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States of America.

None of the Managers or any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents, alliance partners or any other entity or person accepts any responsibility or liability whatsoever for, or makes any representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Ferd, the Company, their subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, each of the Managers and the other foregoing persons disclaim, to the fullest extent permitted by applicable law, all and any liability, whether arising in tort or contract or that they might otherwise be found to have in respect of this announcement and/or any such statement.

Each of the Managers is acting exclusively for the Company and no one else in connection with any transaction referred to in this document. Each of the Managers will not regard any other person as a client and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients nor for the giving of advice in relation to any transaction, matter or arrangement referred to herein.