Bewi Invest AS — Major Shareholding Notification 2026

Apr 21, 2026

BEWI ASA - Transfer of shares by majority shareholder, exemption from mandatory offer obligation, disclosure of large shareholding and mandatory notification of trade

BEWI ASA - Transfer of shares by majority shareholder, exemption from mandatory offer obligation, disclosure of large shareholding and mandatory notification of trade

The majority shareholder of BEWI ASA (the "Company"), BEWI Invest AS, has on 8

January 2026 agreed to a statutory merger with KMC Properties ASA ("KMCP" or the

"Combined Company") pursuant to Chapter 13 of the Norwegian Public Limited

Liability Companies Act, with KMCP as the surviving legal entity (the "Merger").

The Merger was approved by the general meetings of the merging entities on 9

February 2026.

BEWI Invest AS owns 120,846,648 shares in the Company (the "Shares"),

representing 51.09% of the share capital. Upon completion of the Merger, which

is expected on or about 24 April 2026, the Shares will be transferred to the

Combined Company (to be named BEWI Invest ASA) as part of the merger

consideration (the "Transfer"). Bekken Invest AS, which is the controlling

shareholder of BEWI Invest AS with its 53.12% shareholding, is also the

controlling shareholder of KMCP with its 54.72% shareholding. Following

completion of the Merger, Bekken Invest AS will have a direct shareholding in

the Combined Company of 52.80%, and the Transfer will hence not entail any

change of control or any changes in the beneficial ownership of the Shares.

Following the Transfer, the Combined Company will hold 120,846,648 shares in

BEWI ASA, corresponding to 51.09% of the total shares and votes in BEWI ASA.

The Transfer triggers the mandatory offer obligation for the Combined Company.

The Financial Supervisory Authority of Norway (Nw.: Finanstilsynet), in capacity

as the takeover supervisory authority, has in a decision dated 19 February 2026

resolved to grant an exemption from the mandatory offer obligation pursuant to

Section 6-2 (3) of the Norwegian Securities Trading Act with respect to the

Transfer.

BEWI Invest AS is, and the Combined Company will upon completion of the Merger

be, a related party to Christian Bekken, CEO and defined as a person discharging

managerial responsibilities (PDMR) of BEWI ASA. Attached are forms with further

details about the Transfer.

This disclosure is made pursuant to Section 4-2 and Section 5-12 of the

Norwegian Securities Trading Act, and Article 19 of the Regulation EU 596/2014

(the EU Market Abuse Regulation).