AF Gruppen

Share Issue/Capital Change • Oct 25, 2019

Share issue

Share issue

Reference is made to public announcement 19 August 2019 regarding AF Gruppen’s acquisition of Betonmast with management in Betonmast. As a part of funding the purchase price The Board of Directors in AF Gruppen ASA has today decided to perform a share issue of NOK 400 million.

The share issue is in accordance with the Board authorisation given by the General Meeting 15 May 2019 and it will be carried out as a private placement towards AF Gruppen’s four largest shareholders (OBOS BBL, ØMF Holding AS, Constructio AS and Folketrygdfondet).

The four shareholders have subscribed a total of 2,284,409 shares at a nominal value per share of NOK 0.05 and the subscription price is NOK 175.10 per share.

The share issue will increase the share capital in AF Gruppen by NOK 114,220.45 to NOK 5,128,755.35. The total number of shares outstanding after this share issue will be

102,575,107.

A new certificate of registration will be submitted to Oslo Stock Exchange when it is available.

To ensure equal treatment of the company’s shareholders, the Board of Directors will propose that all other shareholders are given the opportunity to subscribe a proportionately equal number of shares as the shareholders who participated in the private placement. Thus, the company will summon an extraordinary general meeting where the Board of Directors proposes that the general meeting adopts a repair issue of up to 1 925 044 new shares. The repair issue will be proposed at the same subscription price as the private placement, NOK 175.10 per share.

The acquisition of Betonmast is expected to be completed 31 October 2019.

For further information:

Executive Vice President / CFO, Sverre Hærem, tel: +47 952 45 167