ABL Group - Major Shareholding Notification 2016

Aqualis ASA: Mandatory notification of trades and large shareholdings disclosure

Aqualis Holdco Ltd ("Holdco"), an employee shareholding vehicle established in

2013 for Aqualis group employees, will on 7 November 2016 transfer all of its

2,187,500 shares (representing 5.03% of the total number of outstanding number

of shares) in Aqualis ASA ("Aqualis") to its employee shareholders. The

transferred Aqualis shares are valued at NOK 2.95 per share, the closing price

of the Aqualis shares on 4 November 2016. After completion of the transfer

Holdco will not hold any shares in Aqualis. Holdco will subsequently be

voluntarily liquidated.

The following primary insiders receives shares as part of the transfer:

Rodger Dickson, Group Marine Director, receives 122,207 Aqualis shares. After

completion of the transfer Rodger Dickson and related parties will hold 512 068

shares in Aqualis.

Santosh George, Group QHSE Manager, receives 122,207 Aqualis shares. After

completion of the transfer Santosh George and related parties will hold 196 963

shares in Aqualis.

Ben Lazenby, Regional Director - Middle East, receives 61,103 Aqualis shares.

After completion of the transfer Ben Lazenby and related parties will hold

134 892 shares in Aqualis.

Cherry Lenox, related party to Phil Lenox, Director Asia Pacific, receives

12,221 Aqualis shares. After completion of the transfer Cherry Lenox and related

parties will hold 897,819 shares in Aqualis.

Stuart Mill, Group Commercial Director, receives 61,103 Aqualis shares. After

completion of the transfer Stuart Mill and related parties will hold 100 768

shares in Aqualis.

Amish Sanghavi, Group Controller, receives 36,662 Aqualis shares. After

completion of the transfer Amish Sanghavi and related parties will hold 176 994

shares in Aqualis.

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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