Orkla ASA — Share Issue/Capital Change 2023

May 10, 2023

Mandatory notification of trade - Shares for employees 2023

Mandatory notification of trade - Shares for employees 2023

Employees in more than 20 countries have been offered the opportunity to buy

Orkla shares at a discount, for the amount of NOK 10 000, NOK 15 000 or NOK

30 000 (included the discount). The purchase price will be set at Orkla's

closing price on 12 May 2023, minus 15% discount.

The offer is valid from 9 - 12 May 2023. This programme was introduced in 1999.

Please see the attachment for an overview of the primary insiders who have

ordered shares in Orkla on 9 May 2023.

The purchase price and the number of shares acquired by the primary insiders, as

well as their updated shareholdings, will be announced following the

determination of the purchase price.

Orkla ASA

Oslo, 10 May 2023

Ref.:

Investor Relations

Kjetil Sørum

Tlf.: +47 99 60 29 64

E-post: Kjetil.sorum@orkla.no

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

-12 the Norwegian Securities Trading Act