NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Reference is made to the announcement on 15 June 2021, whereby Måsøval AS
("Måsøval" or the "Company") announced the successful completion of a private
placement of new and existing shares (the "Private Placement") in connection
with the admission to trading of the Company's shares (the "Shares") on Euronext
Growth Oslo (the "Listing"). 

DNB Markets, a part of DNB Bank ASA (the "Stabilisation Manager") may, on behalf
of the Managers (as defined below), engage in stabilisation activities from
today, 17 June 2021, to, and including, 16 July 2021 (the "Stabilisation
Period"). Any stabilisation transactions will be aimed to support the market
price of the Shares traded on Euronext Growth Oslo. 

In connection with the Private Placement, the Managers has over-allotted a total
of 2,279,635 Shares (the "Additional Shares") to applicants in the Private
Placement, equaling approximately 10% of the Shares allocated in the Private
Placement excluding the Additional Shares. In order to permit delivery in
respect of such over-allotments made, Måsøval Eiendom AS has lent to the
Stabilisation Manager, on behalf of the Managers, a number of existing shares in
the Company equal to the number of Additional Shares. 

Måsøval Eiendom AS has further granted the Stabilisation Manager, on behalf of
the Managers, an option to purchase a number of existing shares equal to the
number of Additional Shares at a price per share of NOK 32.90, equal to the
offer price in the Private Placement (the "Offer Price"), to cover the short
position created by over-allotting shares in the Private Placement (the
"Greenshoe Option"). The Stabilisation Manager may also close out such short
position by buying shares in the open market through stabilisation activities.
Net profits from any stabilisation activities will be to the benefit of Måsøval
Eiendom AS.

The Stabilisation Manager may effect transactions with a view to supporting the
market price of the Shares at a level higher than what might otherwise prevail,
through buying Shares in the open market at prices equal to or lower than (but
not above) the Offer Price. There is no obligation on the Stabilisation Manager
to conduct stabilisation activities and there can be no assurance that
stabilisation activities will be undertaken. If stabilisation activities are
undertaken, they may be discontinued at any time, and must be brought to an end
upon or before expiry of the Stabilisation Period.

If stabilisation activities are undertaken, the Company will publish information
on the activities no later than seven trading days following such
transaction(s). Further, within one week after the expiry of the Stabilisation
Period, the Company will publish information as to whether or not stabilisation
activities were undertaken. If stabilisation activities were undertaken, the
statement will also include information about: (i) the dates on which the
stabilisation period began and ended; and (ii) the price range between which
stabilisation was carried out for each day stabilisation activities occurred.

Any stabilisation activities will be conducted based on the principles set out
in article 5 (4) of the EU Market Abuse Regulation (Regulation (EU) No 596/2014)
and chapter III of the supplemental rules set out in the Commission Delegated
Regulation (EU) 2016/1052 with regard to regulatory technical standards for the
conditions applicable to buy-back programmes and stabilisation measures. 


Carnegie AS, DNB Markets, a part of DNB Bank ASA, and SpareBank 1 Markets AS
acted as Joint Global Coordinators and Joint Bookrunners in respect to the
Private Placement and Listing (the "Managers"). Advokatfirmaet Thommessen is
acting as legal counsel to the Company. Schjødt is acting as legal counsel to
the Managers.

Important information 

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or its
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended together with any applicable
implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operates, the
Company's ability to attract, retain and motivate qualified personnel, changes
in the Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
document.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither of the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

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