Endúr ASA: Redelivery of borrowed shares – mandatory notification of trade and disclosure of large shareholding

19 Jan 2023 15:54 CET

19 January 2023: Reference is made to the stock exchange notice made by Endúr
ASA (the "Company") on 12 January 2023 (the "Announcement") regarding the
completion of a private placement raising gross proceeds of approximately NOK
140 million (the "Private Placement") through the allocation of 5,090,909 new
shares at the price per share of NOK 27.50 (the "Offer Price"). All terms used
in this notice shall have the meaning ascribed to such terms in the
Announcement.

Reference is further made to the Company's stock exchange notice on 12 January
2023 regarding the mandatory notifications of trade and disclosure of large
shareholding, including relating to the lending by Artec Holding AS, a company
closely associated with board member Bjørn Finnøy, to the Managers of 2,599,999
existing and unencumbered shares in the Company to facilitate
delivery-versus-payment ("DvP") settlement to investors allocated Offer Shares
in Tranche 1 of the Private Placement.

Following registration of the share capital increase pertaining to the board of
directors' resolution to issue the 2,599,999 Offer Shares in Tranche 1,
SpareBank 1 Markets AS, acting as settlement agent in Tranche 1 of the Private
Placement on behalf of the Managers, has on 19 January 2023 redelivered
2,599,999 new shares in the Company to Artec Holding AS, as settlement of the
shares borrowed in relation to settlement of Tranche 1. New shares issued by the
Company were used for the redelivery. Please see the enclosed form for further
details.

Upon redelivery of the borrowed shares, Artec Holding AS holds 7,643,641 shares
in the Company, representing approximately 25.43% of the issued share capital
and votes in the Company. Consequently, Artec Holding AS has exceeded the 25%
threshold pursuant to section 4-2 of the Norwegian Securities Trading Act.

Subject to inter alia the resolution by the Company's extraordinary general
meeting to be held on 2 February 2023 to issue Offer Shares in Tranche 2, the
registration of the share capital increase pertaining to Tranche 2, and the
subsequent redelivery of shares by SpareBank 1 Markets AS, acting on behalf of
the Managers, to Artec Holding AS of shares to be borrowed to facilitate DvP
settlement of Tranche 2, Artec Holding AS will have a shareholding in the
Company of 9,241,234 shares, representing approximately 28.40% of the issued
share capital and votes in the Company.

This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and sections 4-2 and 5-12 of the Norwegian
Securities Trading Act.

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580427_Endur - Mandatory notification by PDMRs and close associates.pdf