BEWI ASA – Approval of prospectus for listing of shares in connection with acquisition of Jackon

Reference is made to the stock exchange announcement published by BEWI ASA ("BEWI" or the "Company") on 1 October 2021 regarding its offer to acquire all shares in Jackon Holding AS ("Jackon") and the announcement published on 15 October 2021 where it was announced that HAAS AS, an owner of 50 per cent of the shares in Jackon, had accepted the offer and chosen to receive its consideration in the form of 32,070,000 new shares in BEWI (the "Consideration Shares"). Reference is further made to the extraordinary general meeting held on 16 February 2022, where the Company's shareholders resolved to grant the board of directors an authorisation to issue the Consideration Shares to HAAS AS when completing the acquisition of Jackon.

For the purposes of listing the Consideration Shares, once issued, the Company has prepared a prospectus in accordance with Article 3 item 3 of the EU Prospectus Regulation (Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 and ancillary regulation), as implemented under Norwegian law. The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has today, on 21 February 2022, approved the prospectus.

The Consideration Shares will be issued to HAAS AS (pursuant to a board authorisation) in connection with closing of the Jackon transaction. Closing of the Jackon transaction is still subject to fulfilment of outstanding closing conditions, including without limitations clearance from relevant competition authorities.

The prospectus will be made available at the Company's website at bewi.com/investors/reports-presentations. Printed copies of the prospectus may be obtained free of charge at the registered offices of the Company at Hammarvikringen 64, 7263 Hamarvik, Frøya, Norway.

Contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CET on 21 February 2022.