Oslo, Norway, 21 December 2023:

Reference is made to the press release dated 15th December 2023 where Hi Capital
AS, a subsidiary of Hospitality Invest AS, acquired 20% of Leonhard Nilsen &
Sønner - Eiendom AS ("LNS"). LNS is one of Norway's leading companies within
tunnelling, mining and infrastructure and the largest shareholder in Rana Gruber
ASA with ~20.5% ownership of the outstanding shares. Through the acquisition of
LNS, Hi Capital AS increased its direct and indirect ownership in Rana Gruber
ASA to ~10.1%.

Consequently, Hi Capital AS has sold 1 100 000 shares in Rana Gruber ASA, where
Kristian A. Adolfsen is a board member and primary insider. The shares were sold
at a price of NOK 75.5 per share. After the transaction, Hi Capital AS holds 1
124 465 shares, totaling ~3% of the outstanding shares. Following both
transactions, Hi Capital AS has thus increased its total direct and indirect
ownership in Rana Gruber from ~6.0% to ~7.13%. 

For further information, please contact:
Roger Adolfsen (CEO): +47 98 22 25 00
Kristoffer Lorck (CFO): +47 93 02 88 18

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