Update on legal claim

Reference is made to the previous stock exchange notices regarding the legal proceedings between Ice Group ASA's ("ICE") subsidiary AINMT Holdings AB ("AINMT") and GoldenTree Asset Management LP ("GoldenTree") and others relating to the loan agreement between GoldenTree, certain other lenders and AINMT (the "GT Loan Agreement").

In its stock exchange notice 3 January 2022, ICE referred to a pleading in which the plaintiffs significantly reduced their claim to 5 alleged breaches, each allegedly entitling the plaintiffs to a 5 percentage point interest increase. In a more recent pleading the plaintiffs state, contrary to their previous pleading, that they now claim that 6 breaches were made, each allegedly entitling the plaintiffs to a 5 percentage point interest increase. In the latest pleading, the plaintiffs claim that interest accrued for the 2019-2020 interest period, which the plaintiffs allege is due and payable, amounts to MUSD 36.4 with the alleged increased interest (down from the MUSD 137 originally claimed in the statement of claim).

ICE maintains that the GT Loan Agreement has not been breached.