Volue ASA

Share Issue/Capital Change • Oct 28, 2020

Volue – results of offer to minority shareholders in subsidiaries

Volue – results of offer to minority shareholders in subsidiaries

Further to the announcement of 21 October 2020 of the offer by Volue AS ("Volue") to acquire the minority shareholdings in its subsidiaries Powel AS, Markedskraft AS, Wattsight AS and Scanmatic AS, Volue had as of the expiry of the offer received acceptances representing 3,68% of the shares in Powel AS, 3,29% of the shares in Markedskraft AS, 9,43% of the shares in Wattsight AS and 25,51% of the shares in Scanmatic AS. Following completion of the offer, Volue will own 99,71% of the shares in Powel AS, 99,94% of the shares in Markedskraft AS, 99,92% of the shares in Wattsight AS and 95,04 % of the shares in Scanmatic AS.

As part of the settlement of the offer, Volue will issue a total of 288,385 new shares, nominal value NOK 0.40 each, at a price of NOK 31 per share and pay a total of NOK 233,871,037 in cash. The share capital increase required to issue the consideration shares will be resolved by the board of directors of Volue pursuant to an authorization issued by an extraordinary general meeting on 15 September 2020. Following the issuance of the consideration shares, Volue will have a share capital of NOK 57,093,926 divided into 142,734,814 shares, each with a nominal value of NOK 0.40.

The following primary insiders will acquire shares in Volue as a result of having accepted the offer:

Arnstein Kjesbu, CFO, will acquire 5,275 new shares. Following this, Arnstein Kjesbu will own a total of 326,704 shares in Volue. (321 429 shares have been acquired as part of management incentive scheme as outlined in admission document to Oslo Børs)

Lars Peder Fensli, Board Member, will acquire 15,000 new shares. Following this, Lars Peder Fensli will own a total of 15,000 shares in Volue.

Tor Reier Lilleholt, Board Member, will acquire 40,000 new shares. Following this, Tor Reier Lilleholt will own a total of 60,000 shares in Volue.

For further information, please contact:

Trond Straume, Chief Executive Officer, Volue +47 907 99 625

Arnstein Kjesbu, Chief Financial Officer, Volue +47 970 47 699

This information is subject of the disclosure requirements pursuant to section 3.1 of Continuing obligations of companies admitted to trading on Merkur Market.