Kaldvik AS

Kaldvík AS: Mandatory notifications of trade and share lending

Frøya, Norway, 5 June 2025: Reference is made to the stock exchange announcement

made by Kaldvík AS ("Kaldvík" or the "Company") earlier today (the

"Announcement"), regarding the successful completion of a private placement (the

"Private Placement") of new shares in the Company raising gross proceeds of

approximately NOK 532 million, equal to approximately EUR 46.2 million.

In connection with the Private Placement, the following transactions have been

made by close associates of the Company's primary insiders:

* Austur Holding AS, a close associate of Lars Måsøval, a primary insider of

the Company, has subscribed for 27,045,027 new shares in the Private

Placement and lent shares do DNB Carnegie, a part of DNB Bank ASA ("DNB

Carnegie") to facilitate settlement.

* AR-Invest AS, a close associate of Asle Rønning, a primary insider of the

Company, has subscribed for 32,910 new shares in the Private Placement.

As further described in the Announcement, the Private Placement consists of two

tranches, of which tranche 1 comprises 5,976,172 offer shares ("Tranche 1") and

tranche 2 comprises 32,034,878 offer shares ("Tranche 2"), the latter subject to

a resolution by the extraordinary general meeting of the Company to issue the

new shares allocated to investors in Tranche 2.

To facilitate delivery-versus-payment settlement in the Private Placement,

Austur Holding AS has agreed to lend 1,724,097 existing shares in the Company to

DNB Carnegie in accordance with a share lending agreement entered into between

the Company, DNB Carnegie and Austur Holding AS. Reference is made to the

Announcement for further details.

Please see the attached notification forms for further information about the

transactions by close associates to primary insiders.

This information is subject to the disclosure requirements pursuant to MAR

article 19 and Section 5-12 the Norwegian Securities Trading Act.

For further information, please contact:

Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)

Robert Robertsson, CFO: +354 843 0086 (mobile)

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