Klaveness Combination Carriers

Major Shareholding Notification • Dec 10, 2021

KCC: Internal shareholder reorganisation - disclosure of shareholding and transactions by closely associated parties of a primary insider

KCC: Internal shareholder reorganisation - disclosure of shareholding and transactions by closely associated parties of a primary insider

Oslo, 10 December 2021: Klaveness Ship Holding AS ("KSH"), being the current majority shareholder of Klaveness Combination Carriers ASA ("KCC” or the “Company”) has filed for completion of a merger with its parent company Rederiaksjeselskapet Torvald Klaveness ("RATK"), following which all shares in KCC currently held by KSH will be held by RATK after completion of the merger. RATK owns 100% of the shares in KSH prior to the merger, and no change of control is taking place as part of the merger.

Oslo Børs, in its capacity as competent authority for mandatory offers, has resolved to grant an exemption pursuant to the Norwegian Securities Trading Act Section 6-2 (3) for the transfer of shares in KCC resulting from the merger. The merger will consequently not trigger any mandatory offer obligations for RATK.

RATK will following completion of the merger hold 28,154,231 shares in KCC, equal to 53.76% of the current number of shares and votes in KCC. In addition 159,377 warrants currently held by KSH each giving the right to subscribe for one share in KCC on certain terms will be transferred in the merger. Including the warrants, RATK will after completion of the merger hold a total of 28,313,608 shares and rights to shares in KCC, equal to 54.06% of the shares and votes in the Company based on the Company's current share capital and not taking into account the dilutive effect of the warrants.

RATK and KSH are classified as closely associated parties to a primary insider of KCC and further information is provided in the attached forms.

This announcement is made in accordance with Sections 5-12 and 4-2 of the Norwegian Securities Trading Act and Article 19 of the European Market Abuse Regulation.