Nekkar — M&A Activity 2023

Sep 21, 2023

Nekkar completes investment in FiiZK

Nekkar completes investment in FiiZK

21.9.2023 15:09:48 CEST | Nekkar ASA | Non-regulatory press releases

21 September 2023 - Reference is made to the stock exchange announcement dated

30 August 2023 regarding Nekkar's joint investment with BEWI Invest AS in

aquaculture industry supplier FiiZK. Nekkar and BEWI Invest have today completed

the transaction.

FiiZK is the leading provider of closed cage systems for fish farming. The

company also provides software tools for optimising fish farming planning,

operations, and analysis.

Following completion of the transaction, Nekkar (39%) and BEWI Invest (41%) are

the two largest shareholders of FiiZK Topco AS. Both companies will take active

roles in developing FiiZK going forward.

Nekkar has invested a total of NOK 50 million for a 39 per cent ownership share

in FiiZK. The consideration has consisted of NOK 25 million in cash and a NOK 25

million payment in-kind contribution through Nekkar's cutting-edge Starfish - an

automated, digitally, and remotely managed closed fish cage solution.

BEWI Invest has invested NOK 25 million in cash, and other existing minority

shareholders have invested NOK 10 million in cash in FiiZK.

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies

combined with high-end software solutions. The group combines 50 years' heritage

from the world's number one shiplift company, Syncrolift, with new investments

into sustainable, digitalised technology businesses that aim to unlock growth

within ocean-based industries such as offshore energy, renewables and

aquaculture.

ABOUT BEWI INVEST AS

BEWI Invest is a Norwegian industrial owner with a high-quality portfolio mainly

comprised of companies within industry, real estate, and seafood. The company

has a long-term perspective and has demonstrated a proven track record of value

creation and growth. Through active and responsible ownership, BEWI Invest has

been instrumental in the growth and value creation in its portfolio companies

with sustainability at the core. BEWI Invest is the majority owner of the listed

packaging and insulations company BEWI ASA (OSE: BEWI) and the largest owner of

the listed real estate group KMC Properties ASA (OSE: KMCP).

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

CONTACTS

* Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies

combined with high-end software solutions. The group combines 50 years' heritage

from the world's number one shiplift company, Syncrolift, with new investments

into sustainable, digitalised technology businesses that aim to unlock growth

within ocean-based industries such as offshore energy, renewables and

aquaculture.