Bewi Invest AS

Major Shareholding Notification • Nov 19, 2021

BEWI ASA - Mandatory notification of trade and disclosure of large shareholding

BEWI ASA - Mandatory notification of trade and disclosure of large shareholding

Frøya Invest AS, a large shareholder and close associate to CEO Christian Bekken

and board member Stig Wærnes of BEWI ASA, announce intra-group restructurings of

ownership and consequently reports notification of trades and disclosure of

large shareholding. Oslo Børs has granted an exemption from the mandatory bid

obligation pursuant to section 6-2 (3) of the Norwegian Securities Trading Act,

based on the consideration that the intra-group reorganization of ownership in

BEWI does not involve a change of control or is part of a chain of transactions

that may constitute a change of control.

On 19 November 2021, Frøya Invest AS and EBE Eiendom AS entered separate

agreements with KMC Family AS to merge, whereas KMC Family AS is the surviving

entity. Subsequent to completion of the merger, KMC Family AS, a close associate

to CEO Christian Bekken and board member Stig Wærnes, will own 97 642 450 shares

and votes, equal to 62.35% (including the forward contract of 6 779 661 shares,

as further referred to below) in BEWI ASA directly. The shares will be deemed

transferred at the closing price of the shares of BEWI ASA on 19 November 2021.

Following completion of the merger, Frøya Invest AS will no longer hold shares

in BEWI ASA.

Reference is furthermore made to the announcement made on 27 August 2021 by

Frøya Invest AS, close associate to CEO Christian Bekken and board member Stig

Wærnes, whereby Frøya Invest AS notified a purchase of a total of 6 779 661

shares in BEWI. The transaction was financed by way of a forward contract. This

forward contract was on 19 November 2021 rolled on the same terms. Following

this transaction, Frøya Invest AS, holds 97 642 450 shares and votes in BEWI

ASA, equal to 62.35%.

Please see the attached notifications in accordance with MAR article 19.

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756

1959