Elopak ASA

Share Issue/Capital Change • Jul 16, 2021

Elopak ASA – End of stabilisation period and partial exercise of greenshoe option

Elopak ASA – End of stabilisation period and partial exercise of greenshoe option

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Elopak ASA – End of stabilisation period and partial exercise of greenshoe option

Reference is made to the stock exchange announcement published by Elopak ASA (the "Company") on 17 June 2021 regarding start of the stabilisation period in connection with the completed offering of shares in the Company (the "Offering") and the listing of the Company's shares on Oslo Børs (the "Listing").

Skandinaviska Enskilda Banken AB (publ.), Oslo branch (the "Stabilisation Manager"), acting as stabilisation manager in connection with the Offering and Listing, hereby gives notice that the stabilisation period has ended. Stabilisation activities have been undertaken on Oslo Børs between 17 June 2021 and 16 July 2021 (the “Stabilisation Period”). A total of 12,328,842 shares in the Company have been purchased as part of the stabilisation activities. The shares were purchased at a volume weighted average price of NOK 27.7932 per share and within the daily price ranges set out in the attached stabilisation notice.

In order to permit redelivery of the 14,120,357 shares in the Company which were borrowed from Ferd AS ("Ferd"), the Stabilisation Manager, on behalf of the Managers, has in part exercised the greenshoe option to purchase shares in the Company from Ferd. 1,791,515 existing shares in the Company will be purchased from Ferd under the greenshoe option at a price of NOK 28 per share, equal to the final offer price in the Offering.

The shares purchased through stabilisation activities will be redelivered to Ferd in accordance with the terms of an underwriting agreement.

Goldman Sachs International and Skandinaviska Enskilda Banken AB (publ.), Oslo branch have acted as Joint Global Coordinators and Joint Bookrunners in the Offering, while ABG Sundal Collier ASA, Carnegie AS and DNB Markets, a part of DNB Bank ASA have acted as Joint Bookunners (together with the Joint Global Coordinators, the "Managers").

For further information, please contact:

Skandinaviska Enskilda Banken AB (publ.), Oslo branch

Stian Andreassen

Tel: +47 41643107

Important information

This document is not for publication or distribution in the United States of America (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Japan or Australia or any other jurisdiction into which the same would be unlawful. This document does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction into which the same would be unlawful. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States of America or to publications with a general circulation in the United States of America. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold in the United States of America absent registration under or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States of America.

None of the Managers or any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents, alliance partners or any other entity or person accepts any responsibility or liability whatsoever for, or makes any representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Ferd, the Company, their subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, each of the Managers and the other foregoing persons disclaim, to the fullest extent permitted by applicable law, all and any liability, whether arising in tort or contract or that they might otherwise be found to have in respect of this announcement and/or any such statement.

Each of the Managers is acting exclusively for the Company and no one else in connection with any transaction referred to in this document. Each of the Managers will not regard any other person as a client and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients nor for the giving of advice in relation to any transaction, matter or arrangement referred to herein.