Orkla ASA - Capital/Financing Update 2023

Orkla ASA - Correction: Issuance of NOK bonds

A stock exchange notice on 7 March 2023 at 14:11 CET contained misstated

information by referring to a total amount of NOK 1,000 million split in two

separate tranches. The correct total amount is NOK 1,500 million split into two

separate tranches.

The Norwegian version is correct.

The correct English version is attached herewith:

Reference is made to the stock exchange notice of 6 March 2023. Orkla ASA has

today completed a placement of senior unsecured bonds with a total amount of NOK

1,500 million split between two separate tranches:

· NOK 500 million in a 4.8-year bond issue was placed in the market with a

coupon of

3m Nibor + 0.95 % p.a. In addition, Orkla will issue NOK 1,000 million and

retain these bonds as own holdings, which leads to a total volume of NOK 1,500

million.

· NOK 1,000 million in a 7-year bond issue was placed in the market with a

coupon of 4.405 % p.a. In addition, Orkla will issue NOK 500 million and retain

these bonds as own holdings, which leads to a total volume of NOK 1,500 million.

An application will be made for the bonds to be listed at Oslo Børs.

Danske Bank and SEB have acted as Joint Lead Managers for the issuance.

Orkla ASA

Oslo, 7 March 2023

Ref.:

Senior Vice President Group Treasury

Geir Solli

Tel.: +47 995 42 789

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act

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