Treasure ASA

Major Shareholding Notification • Oct 31, 2016

Renegotiated shareholder agreement between Treasure ASA and Hyundai Group

Renegotiated shareholder agreement between Treasure ASA and Hyundai Group

Reference is made to the prospectus and stock listing

of Treasure ASA in June 2016, where renegotiation of

the shareholder agreement between Treasure ASA and

Hyundai Group regarding the shareholding in Hyundai

Glovis was pending.

The parties have reached an agreement including the

following major changes:

- The formal counterpart has been changed from Wilh.

Wilhelmsen ASA to Treasure ASA.

- Treasure ASA is entitled to reduce its ownership to

7% without any prior written consent.

- Board representation follows as is. The shareholder

agreement will be terminated if the ownership falls

below 7%.

«Our shareholding in Hyundai Glovis continues to be a

strategic investment for Treasure ASA and our purpose

is to generate significant shareholder return based on

the investment,» says Magnus Sande, CEO.