Kalera S.A. — Director's Dealing 2021

Oct 7, 2021

Kalera AS: Mandatory notification of trade

Kalera AS: Mandatory notification of trade

Oslo, 7 October 2021: Reference is made to the announcement by Kalera AS ("Kalera" or the "Company") (Euronext Growth Oslo ticker: KAL, Bloomberg: KAL NO), where it announced the successful completion of a private placement of 12,000,000 new shares in the Company (the "New Shares") at a price of NOK 25 per New Share at the date hereof (the "Private Placement").

Canica AS ("Canica"), a close associate of Chris Logan (member of the Company's board of directors), has entered into a share lending agreement with the managers retained for the Private Placement (the "Managers"), the Company and Macama AS, whereby Canica will lend 7,908,782 shares in the Company to the Managers in order to facilitate delivery of listed shares to investors who were allocated New Shares in the Private Placement. The borrowed shares will be redelivered to Canica upon the registration of the share capital increase pertaining to the New Shares in the Norwegian Register of Business Enterprises and issuance of the New Shares in Euronext VPS.

Further, Canica was allocated and subscribed for 1,040,000 shares in the Private Placement. Following this transaction, Canica owns 12,195,412 shares in the Company.

Please refer to the attached notifications of trading for further details.

For further information, please contact:

Bjørge Gretland, Chairman

Email: bgretland@kalera.com

Daniel Malechuk, CEO

Phone: +1 407 574 2382

Email: dmalechuk@kalera.com

Kalera in brief:

The Kalera Group is a vertical farming group headquartered in Orlando, Florida. Kalera uses technology to ensure that more people around the world have access to the freshest, most nutritious, and cleanest products possible. It has spent several years optimizing plant nutrient formulas and developing an advanced automation and data acquisition system with Internet of Things, cloud, big data analytics and artificial intelligence. Kalera currently operates farms in the US (Orlando, Florida, Atlanta, Georgia and Houston, Texas), Kuwait and Germany and the company has plans to open more farms in the US and also in both the Middle East and Asia in the coming months. More information is available at www.kalera.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.