NRC Group - Capital/Financing Update 2023

NRC Group ASA - Fixed income investor meetings and bank refinancing

October 09, 2023 - NRC Group ASA ("NRC") has mandated Danske Bank as Global

Coordinator and Green Structuring Advisor, and Carnegie as Joint Lead

Manager, to arrange a series of physical and virtual fixed income investor

meetings commencing 10 October 2023. A new 4-year NOK 400 million senior

unsecured floating rate green bond issue may follow, subject to inter alia

market conditions.

Net proceeds from the contemplated bond issue will be used in accordance with

the newly established Green Finance Framework, which obtained a second party

opinion from S&P Global Ratings - receiving their highest rating of Dark Green.

In conjunction with the contemplated new bond issue, NRC will offer a

conditional buyback of the outstanding bonds with ticker NRC01 (ISIN

NO0010861768), contingent upon subscription in the new bonds. Subject to

completion of the contemplated new bond issue, NRC will call the remaining net

outstanding amount of NRC01 in whole.

In connection with the contemplated new bond issue, NRC has received commitment

from Danske Bank for a NOK 400 million overdraft facility and extended the

maturity of the existing term loan, EUR 22 million, from 2024 to 2027. The

increased overdraft facility will be available for working capital purposes and

will enhance the group's financial flexibility. The bank refinancing is subject

to the successful placement of the new bond issue.

For further information, please contact:

Ole Anton Gulsvik, CFO of NRC Group

Mobile: +47 99 56 85 20

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