ABL Group — Capital/Financing Update 2020

Nov 23, 2020

Key information relating to subsequent offering to be carried out by AqualisBraemar ASA

Key information relating to subsequent offering to be carried out by AqualisBraemar ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 23 November 2020 – Reference is made to the stock exchange notice from AqualisBraemar ASA (the “Company”) on 23 November 2020 regarding the successful completion of a private placement of 22,131,148 new shares in the Company (the “Private Placement”) and a potential subsequent offering at the same subscription price as in the Private Placement (the “Subsequent Offering”).

Date on which the terms and conditions of the potential Subsequent Offering were announced: 23 November 2020

Last day including right: 20 November 2020

Ex date: 23 November 2020

Record Date: 24 November 2020

Date of approval: Currently not approved (see information below)

Maximum number of new shares: 5,163,934 new shares

Subscription price: NOK 6.10 per share

Other information: The Subsequent Offering is subject to (a) completion of the Private Placement, (b) approval of the authorization to the Board of Directors for the Subsequent Offering at the extraordinary general meeting in Company to be held on 14 December 2020 and (c) the publication of a prospectus approved by the Norwegian Financial Supervisory Authority. The Board of Directors may, in its sole discretion, decide that the Company shall not carry out the Subsequent Offering.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.