Recreate ASA — Major Shareholding Notification 2022

Sep 28, 2022

Recreate ASA: Mandatory notification of trade and disclosure of large shareholding

Recreate ASA: Mandatory notification of trade and disclosure of large shareholding

Porsgrunn, Norway, 28 September 2022.

Rising Venture AS, a close associate of Emil Eriksrød, CEO and primary insider of Recreate ASA ("Recreate"), has today entered into a binding share purchase agreement (the "SPA") with Brødrene Jensen AS, a close associate of Leif Oddvin Jensen, board member and primary insider of Recreate, to acquire 1,500,000 shares in Recreate at NOK 42.00 per share (the "Transaction"). 1,200,000 of the shares shall be settled on 28 September 2022, while the remaining 300,000 shares shall be settled no later than 30 June 2023. The transactions are partly settled in exchange for unlisted shares and the respective valuations have been based on assessments of the involved enterprises' discounted fair value as of June 2022.

Please see attached notices of trade for further details.

Rising Venture AS is a wholly-owned subsidiary of Rising Group AS. Following completion of the Transaction, Rising Venture AS holds 1,200,000 shares and 300,000 rights to shares in Recreate, amounting to 6.91% of the shares and voting rights in Recreate. Rising Venture AS is a wholly-owned subsidiary of Rising Group AS, a wholly owned entity of Emil Eriksrød. Rising Group AS holds 9,979,981 shares in Recreate and the consolidated holding of Rising Group AS and Rising Venture AS following completion of the Transaction is 11,179,981 shares and 300,000 rights to shares in Recreate, amounting to 52.91% of the shares and voting rights in Recreate.

Following completion of the "Transaction", Brødrene Jensen AS will hold 1,474,227 shares in Recreate, amounting to 6.79% of the shares and voting rights in Recreate.

This information is subject to disclosure requirements in regulation EU 596/2014 article 19 and section 4.3.1 of the Euronext Growth Markets Rule Book Part I. Harmonised Rules, as well as the Norwegian Securities Trading Act section 5-12.

Contact:

Eirik Engaas, CFO

eirik.engaas@recreate.no

+47 934 99 340

Company in brief: Recreate ASA is a full-service real estate company focused on the development, ownership and management of centrally located and sustainable commercial properties.