NRC Group — M&A Activity 2022

May 6, 2022

NRC Group ASA - Gunnar Knutsen AS signs Letter of Intent for transportation and disposal of masses

NRC Group ASA - Gunnar Knutsen AS signs Letter of Intent for transportation and disposal of masses

Gunnar Knutsen AS, a company wholly owned by NRC Group ASA, has signed a Letter

of Intent with JV AF Ghella ANS, for a contract for transportation and disposal

of masses in connection with the building of the new drinking water supply and

distribution network to the City of Oslo. The project works are commissioned by

the Municipality of Oslo.

The contract is estimated at approximately NOK 400 million and is the largest

transportation project to date for NRC Group ASA. The work will commence with

immediate effect, and the project is scheduled for completion in November 2027.

Gunnar Knutsen secures its position as the leading company within mass

transportation in Norway. Investing in biogas trucks the past year, makes our

company more attractive to clients and reduces our CO2 footprint heavily. I'm

proud of our team in Gunnar Knutsen, that proactively invest for the green shift

towards more renewable fuel sources with biogas, says Henning Olsen, CEO NRC

Group ASA.

For further information, please contact: Henning Olsen, CEO of NRC Group, +47 91

74 15 92.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation, and is subject to the disclosure requirements pursuant

to Section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Cecilie Blaauw Cock,

Communication, NRC Group ASA.