Treasure ASA

M&A Activity • Dec 5, 2025

Treasure ASA: Final results of cash offer by Wilh. Wilhelmsen Holding ASA and holdings following compulsory acquisition

Treasure ASA: Final results of cash offer by Wilh. Wilhelmsen Holding ASA and holdings following compulsory acquisition

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Reference is made to the stock exchange announcement on 28 November 2025 by Wilh. Wilhelmsen Holding ASA regarding its acquisition of shares in Treasure ASA and launch of a cash offer to the remaining shareholders of Treasure ASA, subject to legal restrictions in certain jurisdiction, at NOK 39.50 per share (the "Offer"). Reference is further made to the announcement on 4 December 2025 regarding Wilh. Wilhelmsen Holding ASA's completion of the Offer and resolution of a compulsory acquisition of remaining shares in Treasure ASA.

The offer period under the Offer expired on 4 December 2025, at 16:30 hours CET. Following verification of acceptances, the Offer was accepted for a total of 4,430,054 shares, increasing the holding of Wilh. Wilhelmsen Holding ASA to 203,370,250 shares in Treasure ASA, representing approximately 99.34% of the outstanding shares and voting rights.

Wilh. Wilhelmsen Holding ASA resolved, effective from after close of trading on the Oslo Stock Exchange, on 4 December 2025, to carry out a compulsory acquisition of all remaining shares in Treasure ASA, and as a consequence, Wilh. Wilhelmsen Holding ASA became the owner of all outstanding shares in Treasure ASA.

Wilh. Wilhelmsen Holding ASA is a company closely associated to Thomas Wilhelmsen, chairman of the board of directors of Treasure ASA and Christian Berg, member of the board of directors of Treasure ASA. Please find the enclosed notification forms for further information.

The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions ("Restricted Jurisdictions"). Wilh. Wilhelmsen Holding ASA does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into Restricted Jurisdictions and so doing may invalidate any purported acceptance.

This stock exchange release was published by Thomas Finnema on 5 December 2025 at 07:30 CET.

This information is subject to the disclosure requirements pursuant to 5-12 of the Norwegian Securities Trading Act and the Market Abuse Regulation (EU) 596/2014 (MAR).