Wilh. Wilhelmsen ASA

Major Shareholding Notification • Mar 6, 2020

Disclosure

Disclosure

On trade date 04/03/2020 funds managed by Cobas Asset Management, SGIIC, S.A. fell below 5% threshold. The funds hold 4,9987% of issued share capital of Wilh. Wilhelmsen Holding adding up series A and B:

NAME ISIN

Wilh. Wilhelmsen Holding ser. A NO0010571698

Wilh. Wilhelmsen Holding ser. B NO0010576010

(a) the name of the issuer of the shares: Wilh. Wilhelmsen Holding

(b) the date on which the proportion of shares held reached, exceeded or fell below the

thresholds set in the Securities Trading Act section 4-2, subsection (2), 04/03/2020

(c) name of the entity subject to the disclosure obligation, including the name of the

shareholder, Cobas Asset Management, SGIIC, S.A. a Management Company based in Madrid with delegated voting rights on behalf of multiple managed portfolios

(d) the number of shares the notification encompasses,

NAME ISIN Number of Shares

Wilh. Wilhelmsen Holding ser. A NO0010571698 1.128.087,00

Wilh. Wilhelmsen Holding ser. B NO0010576010 1.191.513,00

TOTAL 2.319.600,00

(e) the subsequent situation with regard to voting rights, including the percentage of the

votes and shares of the company held by the entity concerned, 4,9987%

(f) what percentage of the votes and shares of the company the entity concerned holds in

the form of rights to shares, none

(g) the circumstance that triggered the disclosure obligation and whether such

circumstance applied to the entity concerned himself or to any related party (close

associate) as mentioned in the Securities Trading Act section 2-5, 1.259 ser. A and 444 ser. B shares sold on 04/03/2020

(h) the chain of controlled undertakings through which the shares or rights are owned, Cobas Asset Management, SGIIC, S.A. as investment manager, authorized to exercise voting rights attached to the shares under management on a discretionary basis.

(i) where the notification concerns rights to shares as mentioned in the Securities

Trading Act section 4-2, subsection (5), the notification shall also contain a

description of the rights, including information on the date and time that the rights not applicable

will or can be exercised and the date and time of their expiry.