Arendals Fossekompani: Expected impairment of shareholding and shareholder debt in Commeo

10 Jun 2024 19:30 CEST

(Arendal, 10th of June 2024) Arendals Fossekompani (AFK) expects an impairment
of its shareholding and shareholder debts in its German subsidiary, Commeo. This
expectation is based on an assessment of Commeo’s financial performance.

AFK is assessing alternatives for Commeo and expects a significant impairment of
its interests in the company, impairing up to the entire book value of AFK’s
shareholding, as well as its shareholder debt to Commeo. As of 10th of June
2024, the book value of AFK parent company's shareholding and shareholder debt
in Commeo was EUR 81,3m (equivalent to NOK 935m at current exchange rate).

The impairment will be accounted for in the financial statements for Q2, 2024.
Commeo is a subsidiary of AFK’s portfolio company, Ampwell. Ampwell was
established in 2022 to build an eco-system for battery technology and a
Battery-as-a-Service business model. The investment in Commeo was made in April
2022.

ENDS
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For inquiries or additional comments, please contact:
Benjamin Golding, Chief Executive Officer: +47 974 04 496
Hanne Watts, VP Communications & Sustainability: +47 974 04 496

Arendals Fossekompani | www.arendalsfossekompani.no

Arendals Fossekompani (AFK) is a long-term investment company that owns energy
and technology-related companies which enable the energy transition and develop
next generation industrial technologies. Arendals Fossekompani operates globally
in several forward-thinking industries, such as B2B software and analytics,
satellite communications, industrial 3D printing, battery and induction
technology. Established in 1896, Arendals Fossekompani has been a proud producer
of renewable hydro power for more than 100 years. The company is headquartered
in Arendal, Norway has been listed at the Oslo Stock Exchange since 1913.

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This information is considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Lars Peder Fensli, CFO,
Arendals Fossekompani ASA, on 10 June 2024 at 19:30 CET.

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