Crayon Group Holding - Major Shareholding Notification 2019

Mandatory notification of transfer and large shareholdings

Companies controlled by primary insiders in Crayon Group Holding ASA (the "Company") have today, 31 May 2019

made the following transfers in the Company's shares:

Rugz AS, Rugz II AS and Sevencs AS have transferred their entire shareholding of in aggregate 8,835,221 shares

in the Company to Karbon Invest AS, a company owned by, inter alia, Rugz AS, Rugz II AS and Sevencs AS.

Rugz AS and Rugz II AS are controlled by chairman of the board in the Company, Jens Rugseth, while Sevencs

AS is controlled by board member in the Company, Rune Syversen. Following the transfers, Rugz AS, Rugz II AS

and Sevencs AS no longer directly hold shares in the Company.

The transfers to Karbon Invest AS are made in connection with establishment of a joint investment company,

indirectly controlled by Jens Rugseth through Rugz AS and Rugz II AS (together holding 61.39% of the shares and

votes in Karbon Invest AS). The transfers only relate to changes to the corporate structure of the ownership of the

shares and does not entail a realization of the value of the shares.

As a result of the transfers described above, the following ownership thresholds notifiable by law are passed:

Rugz AS and Rugz II AS have transferred 755,032 and 3,357,985 shares in the Company, respectively, entailing

reductions of ownership of 1.00% and 4.45%, respectively, and in aggregate from 5.45% to 0.00%.

Sevencs AS has transferred 4,722,204 shares in the Company, entailing a reduction of ownership from 6.26% to

0.00%.

Following the transfer, Karbon Invest AS holds 8,835,221 shares in the Company, comprising 11.72% of the

outstanding shares and votes in the Company.

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