REMINDER OF EXPIRY OF THE OFFER PERIOD TODAY 27 JUNE 2024 AT 16:30 (CEST)

27 Jun 2024 07:00 CEST

FOR THE VOLUNTARY OFFER BY GF I KILN HOLDCO AS TO ACQUIRE ALL ISSUED AND
OUTSTANDING SHARES OF KYOTO GROUP AT AN OFFER PRICE OF NOK 24 PER SHARE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, INTO OR WITHIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY
OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Reference is made to the offer document dated 20 June 2024 (the "Offer
Document") for the voluntary offer for all issued and outstanding ordinary
shares (the "Shares") in Kyoto Group AS ("Kyoto" or the "Company"). The price
per Share offered to the shareholders under the terms of the Offer is NOK 24
(the "Offer Price"), and will be settled in cash, as further set out in the
Offer Document.

The Offer Period will expire today, 27 June 2024 at 16:30 (CEST).

Shareholders that want to accept the Offer must fill out and return the
acceptance form (and appendices as applicable) which is included in the Offer
Document as appendix 2, by today at 16:30 hours (CEST) on 27 June 2024.

The Offer Document is, subject to regulatory restrictions in certain
jurisdictions, available at the webpage of SpareBank 1 Markets AS acting as
receiving agent in the transaction:
https://www.sb1markets.no/en/transactions/2024/june/kyoto-group/

Completion of the Offer is still subject to the continued fulfillment of certain
conditions, as further set out in section 1.6 in the Offer Document (Closing
Conditions), including but not limited to, the "Minimum Acceptance" condition
having been fulfilled.

Advisers

Alpha Corporate Finance is acting as financial adviser to Kyoto Group.
Advokatfirmaet Wiersholm AS is acting as legal adviser to Kyoto Group.
Advokatfirmaet Schjødt AS is acting as legal adviser to Glentra.

For further information, please contact:

Kyoto Group:

Håvard Haukdal, CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

For Glentra:

Reliance A/S, Poul Lykkesfeldt

pl@reliance.dk

+45 20 21 71 30

Important notice

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions. The
Offeror and the Company assume no responsibility in the event that there is a
violation by any person of such restrictions. Persons who are in possession of
this announcement or such other information are required to inform themselves
about and to observe any such restrictions.

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions.
When published, the Offer Document and related acceptance forms will not and may
not be distributed, forwarded or transmitted into or within any jurisdiction
where prohibited by applicable law, including, without limitation, Canada,
Australia, New Zealand, South Africa, Hong Kong and Japan.

The Offeror does not assume any responsibility in the event there is a violation
by any person of such restrictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restrictions.

This announcement is not a tender Offer document and, as such, does not
constitute an offer or the solicitation of an offer to acquire the Shares.
Investors may accept the Offer only on the basis of the information provided in
the Offer Document. Offers will not be made directly or indirectly in any
jurisdiction where either an offer or participation therein is prohibited by
applicable law or where any tender offer document or registration or other
requirements would apply in addition to those undertaken in Norway.

This announcement contains certain forward-looking statements within the meaning
of the securities and laws and regulations of various international, federal,
and state jurisdictions. All statements, other than statements of historical
fact, included herein, including without limitation, statements regarding the
Offer, future plans and objectives of Company or the Offeror are forward-looking
statements that involve risk and uncertainties. There can be no assurances that
such statements will prove to be accurate and actual results could differ
materially from those anticipated in such statements.

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More information:
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