Elopak ASA – Update on the sale of Russian operations

30 Dec 2022 15:00 CET

Reference is made to the stock notice on July 15, 2022 regarding the agreement
for the sale of all of Elopak's shares in its Russian subsidiary, JSC Elopak.

Elopak has received information that an informal governmental approval has been
conveyed to the buyer. Elopak therefore expects to receive the necessary formal
governmental approval for the completion of the transaction shortly and the
parties are working towards an expedient completion of the transaction, which is
now expected to take place in Q1 2023.

Contacts:
Mirza Koristovic, Head of Investor Relations at +47 93 87 05 25 or
investors@elopak.com.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

About Elopak:
Elopak is a leading global supplier of carton packaging and filling equipment.
The Company's iconic Pure-Pak® cartons are made using renewable, recyclable, and
sustainably sourced materials, providing a natural and convenient alternative to
plastic bottles that fits within a low carbon circular economy. Founded in
Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today it
employs 2,500 people and sells in excess of 14 billion cartons annually across
more than 70 countries.

Elopak is a UN Global Compact participant with a platinum EcoVadis rating and
has been carbon neutral since 2016. For more information, go to elopak.com or
follow us @Pure_Pak on Twitter and @Elopak on LinkedIn.

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