NRC Group — Capital/Financing Update 2020

Mar 8, 2020

NRC Group ASA - Cancellation of subsequent repair offering

NRC Group ASA - Cancellation of subsequent repair offering

References is made to the stock exchange notice on 12 February 2020, regarding

the contemplated private placement and a potential subsequent repair offering in

NRC Group ASA ("the Company").

Since the announcement of the private placement, the Company's shares have

traded similar to or below the subscription price in the private placement of

NOK 37. In the period from 12 February 2020 to 6 March 2020 the volume-weighted

average share price (VWAP) has been NOK 33, and at the lowest the share price

was NOK 26.10, approximately 29.46 percent below the subscription price.

Furthermore, 4.73 million shares have been traded below the subscription price,

which represents 2.5x the volume in the subsequent repair offering.

Consequently, existing shareholders wishing to avoid or reduce the dilutive

effect of the private placement have had the opportunity to purchase shares in

the open market during an extended period in time, at prices below the

subscription price of the private placement. Hence, the Board withdraws its

proposal to the general meeting to give the Board an authorisation to issue

shares in the subsequent repair offering.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.