Nekkar — M&A Activity 2018

Nov 6, 2018

TTS Group ASA: Update on competition filing – Approval from German competition authorities received

TTS Group ASA: Update on competition filing – Approval from German competition authorities received

TTS Group ASA ("TTS") announced on 8 February 2018 that the company had entered

into an asset sale agreement with MacGregor, a subsidiary of Cargotec Oyj listed

on Nasdaq Helsinki Stock Exchange in Finland.

Completion of the contemplated transaction is conditional on the transaction

being cleared, unconditional or on conditions acceptable to MacGregor, by

relevant competition authorities, which is China, South Korea and Germany.

We are today informed from MacGregor that clearance of the transaction is

received from the German competition authorities.

In accordance with our previous stock exchange notification of 20 September

2018 the parties expect to receive clearance from the two remaining competition

authorities during Q4 2018, and consequently the ambition is to complete the

transaction, according to the agreement, as soon as possible thereafter.

Bergen, 6 November 2018

TTS Group ASA

http://www.ttsgroup.com

Contact persons:

Toril Eidesvik

CEO

M: +47 900 78 218

Leiv Kallestad

CFO

M: +47 958 95 661