Bewi Invest AS

BEWi - Completion of transaction for divestment of properties in Netherlands

Reference is made to the stock exchange notice of 16 October 2020 by BEWi ASA

("BEWi"), a leading provider of packaging, components and insulation solutions,

where the Company announced its intention to divest certain properties in the

Netherlands by way of a letter of intent with KMC Properties AS. The transaction

for the divestment has today been completed.

BEWi is divesting four properties in the Netherlands to KMC Properties AS

through a sale of the shares in the companies owning the relevant properties and

by way of a sale-and-leaseback transaction, whereas BEWi has entered into a

leasing agreement of 12 years with an option to extend the term for 2 x 5 years.

Since the announcement of the letter of intent, KMC Properties AS has entered

into an agreement with the listed company Storm Real Estate ASA ("Storm Real

Estate") to form a combined entity. The total consideration for the shares in

the companies owning the relevant properties is EUR 33 million, of which NOK 60

million is settled by shares in Storm Real Estate at a price of NOK 7 per share,

and the remainder of the consideration is paid in cash.

Christian Bekken, CEO of BEWi comments: "This divestment supports our strategy

for growth and further expansion of our circular activities, by releasing

capital and increasing our financial flexibility."

The transaction constitutes a related party transaction since the Bekken family,

who indirectly controls 58 per cent of the shares in BEWi, is represented on the

board of Storm Real Estate through Stig Wærnes. Stig Wærnes is also a board

member of BEWi. In addition, the Bekken family indirectly controls 23 per cent

of the shares in Storm Real Estate through its 50 per cent ownership in EBE

Eiendom AS.

For further information, please contact:

Charlotte Knudsen,Director of IR and Communications BEWi ASA, tel: +47 9756 1959

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. The company creates value for customers by offering sustainable

solutions in innovative and efficient ways. With a vision to protect people and

goods for a better every day, BEWi is leading the change towards a circular

economy.

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