BEWI completes its acquisition of Jackon, further strengthening its position as a leading provider of packaging and insulation solutions in Europe

With reference to previous stock exchange notices regarding BEWI ASA's ("BEWI or the "Company") acquisition of Jackon Holding AS, first announced on 1 October 2021, BEWI today announces that the Company has finalised its acquisition of Jackon Holding AS (the "Jackon Transaction").

"We have been looking forward to this day for a long time and we cannot wait to get started with the integration of our two companies. Finally, we can welcome the Jackon employees to our organisation. We see a great potential in combining our two companies, creating strong synergies across our value chain," says CEO of BEWI, Christian Bekken.

On 30 June 2022, BEWI announced the sale of an industrial real estate portfolio, including up to 24 properties valued at up to NOK 2 billion. The transaction was subject to completion of the Jackon Transaction, and the first tranche, comprising the properties located in Norway and Sweden valued at NOK 970 million, is expected to be completed within the next few weeks.

The sale of the properties provides BEWI with a strengthened financial flexibility, enabling the Company to continue pursuing attractive growth opportunities.

Issuance of consideration shares

As partial consideration in the Jackon Transaction, the Company's board of directors has today resolved to increase the Company's share capital with NOK 32,070,000 by the issuance of 32,070,000 new shares in the Company to HAAS AS, each with a nominal value of NOK 1, at a subscription price of NOK 45.9925 per share. The share capital increase was resolved pursuant to an authorization to increase the Company's share capital granted by the extraordinary general meeting on 16 February 2022. Following the issuance of the consideration shares, BEWI's share capital will be NOK 191,347,992, divided into 191,347,992 shares each with a nominal value of NOK 1.

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959 or Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 00 47

About BEWI AS:

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy. BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10:30 CEST on 19 October 2022.