Update on sale of Ice Group Scandinavia Holding AS

Reference is made to the announcement of 18 February by ICE Group ASA (the "Company") regarding a sale of Ice Group Scandinavia Holding AS and associated assets to Lyse AS, and the notice dated 28 February 2022 of an extraordinary general meeting (“EGM”) to approve the transaction. The Company has now entered into a definitive sale and purchase agreement (the “SPA”) with Lyse on the terms described in the announcement and the notice of the EGM.

Completion of the Transaction is subject to regulatory approvals and approval by the stakeholders of the Company, including shareholders of the Company in the EGM. The Company has received preapprovals for the transaction from shareholders representing approximately 80% of the shares as well as from relevant creditors. Closing of the Transaction is targeted for the end of March.

Lazard, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS are acting as financial advisors to the Company and Advokatfirmaet Gisvold AS and Ro Sommernes advokatfirma DA are acting as legal advisors to the Company. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Company's Board of Directors.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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