NRC Group - Major Shareholding Notification 2016

NRC - Flagging and notification of transaction relating to NRC Group ASA

Urbex Invest AS currently owns 5,446,828 shares in NRC

Group ASA (not including 975,000 shares covered by a

forward contract), representing approximately 15.4% of

the total shares and votes in the company (and

approximately 18.2%of including the forward contract).

Kristian G. Lundkvist, who is a member of the board of

directors of NRC Group ASA, is (indirectly) the

majority shareholder in Urbex Invest AS (owns 85.8% of

the shares and votes), through the companies

Middelborg AS and Merckx AS.

On 4 July 2016, the shareholders of Urbex Invest AS

approved a resolution to split the company, in such a

way that the minority shareholders' shares in Urbex

Invest AS will be redeemed in a share capital

reduction in exchange for a consideration of in total

1,039,825 shares in NRC Group ASA.

After completion of the transactions, Middelborg AS

and Merckx AS will own 100% of the shares and votes in

Urbex Invest AS, which in turn will own 4,407,003

shares in NRC Group ASA (excluding the aforementioned

975,000 shares covered by a forward contract),

representing approximately 12.5% of the total shares

and votes (and 15.2% of the total shares and votes

including the forward contract).

Kristian G. Lundkvist's effective ownership in NRC

Group ASA will remain the same, as the transactions in

Urbex Invest AS relate to the minority shareholders

only.

This notification is made with reference to Sections

4-2 to 4-4 of the Norwegian Securities Trading Act

(Norwegian: verdipapirhandelloven).

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