Frøy ASA

Major Shareholding Notification • Jul 12, 2023

Goldman Sachs Group, Inc. Disclosure in FRØY ASA

Goldman Sachs Group, Inc. Disclosure in FRØY ASA

Please find attached a notification regarding the acquisition of shares 10,034,399 in Frøy ASA (the "Company") by WSIP IV Emp Fund Aggregator S.a r.l., WSIP IV Falcon Funds JV S.a r.l. and ELQ Investors IV Ltd., each a company indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management. Goldman Sachs International holdings are also represented. The said companies hold 14,885,084 shares in the Company following the acquisition, corresponding to 17.24% of the shares and votes in the Company.

Reference is further made to the stock announcement by the Company on 5 June 2023 regarding Falcon Bidco AS' (the "Offeror"), a company indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management, agreement to acquire 62,269,112 shares in the Company subject to certain closing conditions, corresponding to 72.11% of the shares in the Company (the "Transaction").

Consequently, companies indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management currently hold 17.24% of the shares in the Company and rights to 72.11% of the shares in the Company, bringing the current aggregate holding of shares and rights to shares to 89.35% of the current registered shares and votes in the Company.

This information is subject to the disclosure requirements pursuant to Section 5-12, cf. Section 4-2 of the Norwegian Securities Trading Act.