Volati — Capital/Financing Update 2016

Dec 9, 2016

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, NEW ZEELAND, SOUTH AFRICA, HONG KONG OR SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL

Press release 9 December 2016

Exercise of over-allotment option in Volati

Carnegie and Nordea (together "Joint Global Coordinators") have today notified Volati AB (publ) ("Volati" or the "Company") that the over-allotment option has been exercised in full in respect of 1,896,551 new common shares in Volati.

In connection with the initial public offering of Volati (the "IPO"), the Company granted Nordea, as stabilisation agent for Joint Global Coordinators, an over-allotment option to subscribe for additional 1,896,551 new common shares in the Company, corresponding to up to 10 percent of the total number of common shares comprised in the offering, to be used to cover over-allotment of shares. The Joint Global Coordinators have today exercised the over-allotment option in full and Volati have received issue proceeds of SEK 1,210 million before issue costs. No stabilisation has been carried out since the IPO, and as a result of Volati's common share price development, the Joint Global Coordinators have decided to end the stabilisation period.

Following exercise of the over-allotment option the total number of common shares in Volati amount to 80,406,571 shares. The offering in connection to the IPO including the over-allotment option have thus comprised 20,862,069 common shares, which corresponds to a dilution of 25.4 percent of the previous number of common shares and 25.9 percent of the previous number of votes in Volati.

Volati's largest common shareholders after exercise of the over-allotment option are Karl Perlhagen (42.8 percent of the total number of common shares in Volati), Patrik Wahlén (23.7 percent), Didner & Gerge Funds (5.4 percent), The Fourth Swedish National Pension Fund (4.3 percent) and Handelsbanken Funds (3.2 percent).

For further information, please contact:

Mårten Andersson, CEO of Volati AB, +46 (0)72-735 42 84, marten.andersson@volati.se Mattias Björk, CFO Volati AB, +46 (0)70-610 80 89, mattias.bjork@volati.se

Volati AB (publ)

Engelbrektsplan 1, SE-114 34 Stockholm, Sweden Tel: +46 (0)8-21 68 40, e-mail: info@volati.se, Corp. Reg. No. 556555-4317

This information is such that Volati AB is obliged to disclose under the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 5.45 p.m. CET on 9 December 2016.

About Volati

Volati is a Swedish industrial group formed in 2003, comprising some 40 operating companies divided into 13 business units organised in three business areas: Trading, Consumer and Industry. Volati acquires mainly companies with proven business models, leading market positions and strong cash flow at reasonable valuations and develops these with an emphasis on long-term value creation. Volati's strategy is to build on the identity and entrepreneurial spirit of the companies, adding, leadership, expertise, processes and financial resources. Volati has operations in 15 countries, with a total of about 1,300 employees and annual sales of more than SEK 3 billion. Volati's ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, NEW ZEELAND, SOUTH AFRICA, HONG KONG OR SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL

Important information

This announcement is not and does not form a part of any offer to sell or a solicitation of an offer to purchase, any shares or other securities in the Company.

This announcement has not been distributed, and will not be distributed or in any other way sent, into the United States, Canada, Japan, Australia, New Zeeland, South Africa, Hong Kong or Singapore or any other jurisdiction in which such distribution would violate local securities laws or regulations in such jurisdiction or would require registration or other measures.

These materials are not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States. The Company does not intend to register any part of the Offering in the United States or to conduct a public offering in the United States.

This announcement is an advertisement and is not a prospectus for the purposes of the Directive 2003/71/EC (together with any applicable implementing measures in any member state, the "Prospectus Directive"). A prospectus prepared pursuant to the Prospectus Directive will be published, which, when published, can be obtained from the Company. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the prospectus.

In any EEA member state other than Sweden that has implemented the Prospectus Directive, this announcement is only addressed to and is only directed at qualified investors in that member state within the meaning of the Prospectus Directive, i.e., only to investors who can participate in the Offering without an approved prospectus in such EEA member state.

This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements refer to statements which do not refer to historical facts and events, and statements which are attributable to the future, such as expressions as "deem", "assess", "expect", "await", "judge", "assume", "predict", "can", "will", "shall", "should or ought to", "according to estimates", "consider", "may", "plan", "potential", "calculate", "as far as is known" or similar expressions suitable for identifying information that refers to future events. This applies in particular to statements referring to future results, financial position, cash flow, plans and expectations for the Company's business and management, future growth and profitability and general economic and regulatory environment and other circumstances which affect the Company. Forward-looking statements are based on current estimates and assumptions which are based on the Company's current intelligence. Such future looking statements are subject to risks, uncertainties and other factors which may result in actual results, including the Company's financial position, cash flow and profits, deviating considerably from the results which expressly or indirectly form the basis of, or are described in, statements, or may result in the expectations which, expressly or indirectly, form the basis of or are described in statements not being met or turning out to be less advantageous compared to the results, which expressly or indirectly formed the basis of or were described in the statements. The Company's business is exposed to a number of risks and uncertainties which may result in forward-looking statements being inaccurate or an estimate or calculation being incorrect. Therefore, potential investors should not place undue reliance on the forward-looking statements herein and are strongly advised to read detailed description of factors which have an effect on the Company's business and the market in which the Company operates that will be included in the prospectus. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.