AF Gruppen — Share Issue/Capital Change 2020

May 5, 2020

Share issue completed

Share issue completed

AF Gruppen ASA (AFG) has issued 2,217,994 shares as a private placement to employees at the company in order to exercise all outstanding share options. The subscription price for 2,147,061 shares was NOK 139.90 per share and for 70,933 shares the subscription price was NOK 157.50. The total value of the share issue is NOK 311,545,781.40.

The share issue has increased the share capital in AF Gruppen by NOK 110,899.70 to

NOK 5,264,163.55. The total number of shares outstanding after this share issue is

105,283,271.

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

For further information:

CFO, Sverre Hærem, tel. +47 952 45 167