Hurtigruten Group reaches 100% support for Proposed SFA Amendments under the Lock-Up Agreement

15 Mar 2023 08:30 CET

Hurtigruten Group AS (the “Company”, and together with its subsidiaries, the
“Group”).

The Company is pleased to announce that Lenders holding 100% of the total
commitments under the SFA have either signed up or acceded to the Lock-Up
Agreement or have been designated Restricted Lenders by the Company in
accordance with the terms of the Lock-Up Agreement before the Early Bird
Deadline of 5 p.m. on 14 March 2023.

Background

On 21 February 2023, the Group announced that it had entered into a Lock-Up
Agreement for a 2-year maturity extension of its existing EUR 85 million
revolving credit facility (the “RCF”) to February 2026 and EUR 655 million term
loan facility (the “TLB”) to February 2027 (the “Proposed SFA Amendments”). For
further details of the Proposed SFA Amendments, please refer to the 21 February
2023 announcement. All capitalised terms in this announcement shall have the
meaning given to them in the 21 February 2023 announcement unless otherwise
defined.

All Lenders who signed up or acceded to the Lock-up Agreement or (in respect of
Lenders which are constitutionally restricted from consenting or voting to
approve the Proposed SFA Amendments), demonstrated their support for the
Proposed SFA Amendments to the satisfaction of the Company are eligible for

· an early-bird fee of 50 bps (calculated as a percentage of a creditor’s
outstanding principal amount of locked-up debt under the SFA as at a future
record date); and
· a lock-up fee of 50 bps (calculated as a percentage of a creditor’s
outstanding principal amount of locked-up debt under the SFA as at a future
record date)

in each case, payable within 3 Business Days of completion of the Proposed SFA
Amendments.

For further information, please contact:

Investor Relations team: InvestorRelations@hurtigruten.com

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