Recreate ASA — M&A Activity 2022

Oct 27, 2022

Recreate ASA – Parallell transaction will not be completed

Recreate ASA – Parallell transaction will not be completed

Porsgrunn, Norway, 27 October 2022

Recreate ASA ("Recreate") entered on March 31, 2022 into an agreement with Skanska Commercial Development Norway Holding AS ("Skanska") to acquire Parallell, an office property located in Økern, Oslo and owned by Lørenveien Næring AS and refers to its previous stock exchange notices in this regard on 1 April 2022 and 22 July 2022. The completion of the transaction was expected to take place in November 2022, but was conditional upon financing.

Recreate has been working on several financing solutions. Due to the current challenging and uncertain situation in the capital and real estate markets, Recreate has not been able to obtain satisfactory financing of the transaction. The transaction will therefore not be completed.

For further information, please contact:

Emil Eriksrød, CEO

emil.eriksrod@recreate.no

+47 415 22 463

Eirik Engaas, CFO

eirik.engaas@recreate.no

+47 934 99 340

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.