Orkla ASA — M&A Activity 2014

Nov 28, 2014

Orkla ASA: Orkla sells Orkla Brands Russia

Orkla ASA: Orkla sells Orkla Brands Russia

Orkla has entered into an agreement to sell OJSC Orkla Brands Russia to

Slavyanka-Lyuks JSC, a member of the Russian confectionery group Slavyanka.

Under the agreement, Orkla will divest 100 per cent of its shares in Orkla

Brands Russia.

Orkla Brands Russia is an established confectionery producer in Russia, with

iconic local brands such as Krupskaya, SladCo and Pekar. The company was

established in February 2011 through the merger of SladCo and Krupskaya, which

have been part of Orkla since 2005 and 2006, respectively. Orkla Brands Russia

has production plants in Peterhof outside St. Petersburg, Yekaterinburg and

Ulyanovsk. In 2013, the company's net sales totalled RUB 6,114 million (NOK

1,129 million). As of year-end 2013, the company had 2,225 employees.

Orkla communicated in Q1 2014 that a structural sales process had been

initiated.

"Orkla has executed a comprehensive restructuring in Orkla Brands Russia over

the last couple of years. The company is now well positioned for the future, but

we believe that other owners are better positioned to further develop and

support the company's operations," says Peter A. Ruzicka, President and CEO of

Orkla ASA.

The agreement is subject to approval by the Russian competition authorities.

Orkla's Russian branded nuts company, Chaka, and separate real estate assets in

St. Petersburg and Yekaterinburg are not part of this transaction. Separate

sales processes have been commenced for the real estate assets.

Renaissance Capital has acted as exclusive financial advisor to Orkla in this

transaction.

About Orkla ASA:

Orkla ASA is a leading supplier of branded consumer goods and concept solutions

to the grocery and out-of-home sectors in the Nordic region, the Baltics and

selected markets in central Europe, Russia and India. Orkla ASA is listed on the

Oslo Stock Exchange (OSE: ORK) and headquartered in Oslo, Norway. The Group's

turnover in 2013 totalled NOK 33 billion. As of 31 December 2013, Orkla had

approximately 17,000 employees.

Please visit www.orkla.com for more information.

About Slavyanka:

Slavyanka is one of the leading confectionery producers in Russia. The company

has production facilities in the Belgorod region and has more than 5,000

employees. Slavyanka is privately owned and its turnover in 2013 totalled

approximately RUB 13 billion (approx. NOK 1.83 billion).

Orkla ASA

Oslo, 28 November 2014

Ref.:

Group Director Communication and Corporate Affairs

Håkon Mageli

Tel.: +47 928 45 828

Senior Vice President Investor Relations

Rune Helland

Tel.: +47 977 13 250

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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