Bewi Invest AS

Capital/Financing Update • Aug 9, 2021

BEWI ASA announces intention to issue new unsecured floating rate sustainability-linked bonds

BEWI ASA announces intention to issue new unsecured floating rate sustainability-linked bonds

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO

THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS) OR TO ANY U.S.

PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933),

AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND,

SINGAPORE, UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH RELEASE,

PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY

OTHER MEASURES.

Subject to BEWiSynbra Group AB (publ) (a wholly owned subsidiary of BEWI ASA)

("BEWiSynbra") obtaining approval from holders of its up to EUR 100,000,000

Senior Secured Floating Rate Notes due 2022 (ISIN: SE0010985556) and its up to

EUR 115,000,000 Senior Secured Floating Rate Notes due 2023 (ISIN: SE0013409455)

(collectively referred to as the "Bonds") to add an option for refinancing the

Bonds in full before their respective final maturity date, BEWI ASA intends to

refinance the Bonds by issuing new senior unsecured floating rate sustainability

-linked bonds in an aggregate amount of up to EUR 160,000,000 under a framework

of up to EUR 250,000,000 (the "New Bonds").

The intended refinancing reflects BEWI's solid strategic growth outlook,

including both organic growth initiatives and attractive M&A opportunities. The

contemplated issue of new sustainability-linked bonds and increase of existing

revolving credit facilities, as well as extended maturity profile, will allow

for further financial flexibility to pursue these growth opportunities.

Written Procedures in respect of the Bonds

BEWiSynbra has today instructed the agent, Nordic Trustee & Agency AB (publ), to

initiate written procedures for its outstanding Bonds (the "Written

Procedures"), for the purpose of seeking approval from the holders of the Bonds

(the "Bondholders") to amend the terms and conditions of each Bond (the "Terms

and Conditions") to include an option for refinancing the Bonds in full before

their respective final maturity date. Further details regarding the Written

Procedures can be found in the separate press release published by BEWiSynbra on

the date hereof.

Contemplated issue of New Bonds

Upon the consent of the Bondholders to amend the Terms and Conditions as set out

in the notices of the Written Procedures, BEWI ASA intends to, subject to market

conditions, refinance the Bonds by issuing senior unsecured floating rate

sustainability-linked bonds, with an expected tenor of 5 years in an aggregate

amount of up to EUR 160,000,000 under a framework of up to EUR 250,000,000.

The net proceeds from the bond issue will be used for refinancing the

outstanding Bonds and general corporate purposes. As part of the refinancing,

BEWI also contemplates to refinance its existing SSRCF with a new SSRCF as well

as increase the amount. The contemplated refinancing is to improve financial

flexibility and extend the maturity profile allowing BEWI to continue to pursue

its growth trajectory.

General

Nordea Bank Abp has been appointed as solicitation agent in relation to the

Written Procedure.

Carnegie AS, DNB Markets, a part of DNB ASA and Nordea Bank Abp have been

mandated as joint bookrunners with respect to BEWI ASA's contemplated issue of

New Bonds.

Please note that although BEWiSynbra intends to implement the amendments as

proposed pursuant to the Proposal, and BEWI ASA thereafter intends to issue the

New Bonds, including taking the indicated measures associated with such issue,

they have no obligation to do so even if the Proposal is approved by the

Bondholders.

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61

959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 0047

About BEWI ASA

BEWI ASA is an international provider of packaging, components, and insulation

solutions. The company's commitment to sustainability is integrated throughout

the value chain, from production of raw materials and end goods, to recycling of

used products. With a vision to protect people and goods for a better every day,

BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with

the EU Market Abuse Regulation. The information was submitted for publication,

through the agency of the contact person set out above, at 08:50 CEST on 9

August 2021