Synbra concludes settlement agreement

29 Nov 2022 12:46 CET

BEWI ASA ("BEWI" or the "Group") completed its acquisition of the Synbra group
("Synbra") in May 2018. As communicated in BEWI's annual reports and
prospectuses, the European Commission (the "Commission") has, thereafter,
included Synbra in an investigation related to a potential involvement in
anticompetitive practices of styrene monomer purchasing during 2013 and 2014.

Synbra has now concluded a settlement agreement with the Commission which
entails a payment of EUR 17.2 million. BEWI, as the owner of Synbra, has agreed
to the settlement for the purpose of putting an end to the process and being
able to focus on the ordinary business of the Group.

As part of the acquisition of Synbra, BEWI received customary warranties in
relation to, inter alia, compliance with laws, from the sellers of Synbra. Such
warranties are insured under a warranty and indemnity insurance policy. BEWI
intends to pursue the insurance for coverage, and subsequently potentially the
sellers.

Contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756
1959

The information is such that BEWI ASA is required to disclose in accordance with
the EU Market Abuse Regulation. The information was submitted for publication,
through the agency of the contact person set out above, at 12:45 CET on 29
November 2022.

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