Modex AS Call Notice – ISIN NO0010932460

18 Aug 2023 15:59 CEST

Reference is made to the attached notice of exercise of call option. Modex AS
has informed Nordic Trustee AS of its exercise of the call option to redeem all
of the outstanding bonds under the company's FRN NOK 550,000,000 senior secured
callable bonds 2021/2026 (ISIN: NO0010932460).

The bonds will be repaid at a price equal to 104,10 of par value, with
settlement date 4 September, 2023.

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597312_Call notice - Modex AS.pdf