Arribatec Group ASA

Major Shareholding Notification • Oct 9, 2019

Mandatory notification of trade and disclosure of large shareholding – Correction*

Mandatory notification of trade and disclosure of large shareholding – Correction*

This announcement is a correction of the notification earlier today, 9 October 2019, from Øystein Tvenge and Intelco Concept AS regarding mandatory notifications and disclosure of shareholdings in Hiddn Solutions ASA (the “Company”). The said notification did not include the shares subscribed in the resolved, but not yet registered, subsequent offering. The aggregate number of shares in the Company following completion of the subsequent offering is 16,077,403 shares, each with a nominal value of NOK 1. The notification is updated below with correct figures representing the ownership percentage of Mr. Tvenge and Intelco Concept AS following the transactions described below and the subsequent offering.

Reference is made to the notification on 9 October 2018 by Øystein Tvenge, chairman of the board in in the Company, and Intelco Concept AS, which is represented on the Company’s board by Øystein Tvenge, regarding transfer of their shareholdings in the Company to a unit-linked life insurance policy with Lombard International Assurance. Mr. Tvenge and Intelco Concept AS has decided to take back the said shares and has today repurchased the shares held through their respective policies.

As a result of the above, Øystein Tvenge has in total repurchased 175,000 shares in the Company from his insurance account at a price per share of NOK 1.18. After this, Mr. Tvenge directly holds 778,200 shares in the Company, equal to approximately 4.8% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company). As a consequence of the subsequent offering, Mr. Tvenge’s shareholding in the Company has decreased from approximately 5.4% (including both shares held personally by Mr. Tvenge and the shares previously held through Mr. Tvenge’s insurance policy with Lombard International Assurance).

Intelco Concept AS has in total repurchased 555,298 shares in the Company from its insurance account at a price per share of NOK 1.2. After this, Intelco Concept AS directly holds 1,794,486 shares in the Company, equal to approximately 11.2% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company). In aggregate, Øystein Tvenge and Intelco Concept AS directly holds 2,572,686 shares in the Company, equal to approximately 16.0% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company). After the transfers described above, Lombard International Assurance no longer holds shares in the Company.