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Arcus ASA: Statement from the Board of Directors regarding the mandatory offer from Canica AS

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It is the Board of Directors’ (the “Board”) overall assessment, including Carnegie’s fairness opinion, that the offer outlined by Canica is not fair. Thus, the Board does not recommend the shareholders of Arcus to accept Canica’s offer.

The statement from the Board in accordance with § 6-16 of the Norwegian Securities Trading Act in connection with the mandatory offer from Canica AS is enclosed.

A fairness opinion dated 9 July 2018, submitted by Carnegie Investment Bank, is also enclosed.

The Board asks the shareholders to take note of the long-term opportunities of Arcus, with growth and improvement prospects in all business segments. Based on good cash conversion and corresponding dividend capacity, Arcus aims to deliver competitive returns to shareholders over time.

For further information:

Chairman of board, Michael Holm Johansen, tel: +44 77 1538 4400

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