Rana Gruber ASA — Director's Dealing 2021

May 7, 2021

Notifiable transactions by close associates to primary insiders

Notifiable transactions by close associates to primary insiders

Reference is made to the stock exchange announcement by Rana Gruber AS (the "Company") on 30 March 2021 regarding distribution of shares in the Company from LNS Mining AS to LNS Mining AS's shareholders, including the distribution of 1,746,762 shares to ACEA Properties AS and 2,224,465 shares to Kidprop AS. ACEA Properties AS and Kidprop AS, both close associates to Kristian Adolfsen who is a member of the board of directors of the Company, have decided to distribute all its shares in the Company to its shareholders.

All shares being distributed to the shareholders of ACEA Properties AS and Kidprop AS are subject to lock-up undertakings for a period until 26 February 2022.

The following companies are considered as close associates to primary insiders in the Company and will receive shares in the Company following the distribution of the shares described above:

- Eidissen Consult AS will receive 436,691 shares in the Company from ACEA Properties AS. Eidissen Consult AS is a close associate to Benn Eidissen, a deputy member of the board of directors of the Company. Following the distribution, Eidissen Consult AS will own a total of 1 189,991 shares in the Company, equal to 3.2% of the Company's share capital.

- Klevenstern AS will receive 436,690 shares in the Company from ACEA Properties AS. Klevenstern AS is a close associate to Kristian Adolfsen, a member of the board of directors of the Company. Following the distribution, Klevenstern AS will own a total of 436,690 shares in the Company, equal to 1.7% of the Company's share capital.

- Hi Capital AS will receive 2,224,465 shares in the Company from Kidprop AS. Hi Capital AS is a close associate to Kristian Adolfsen, a member of the board of directors of the Company. Following the distribution, Hi Capital AS will own a total of 2,224,465 shares in the Company, equal to 5.95% of the Company's share capital.

For further information, please contact:

Gunnar Moe, Chief Executive Officer: +47 941 47 650

Erlend Høyen, Chief Financial Officer: +47 902 02 741