Jøtul AS' bonds have been approved for listing on Oslo Børs

Jøtul AS (the "Company") has issued senior secured floating rate bonds in an initial amount of NOK 475,000,000 within a total framework amount of NOK 750,000,000 (the "Bonds"). The Bonds carry a floating interest rate of NIBOR 3m + 6.95 per cent. per annum and mature on 6 October 2024.

Pursuant to the terms and conditions of the Bonds (the "Terms and Conditions"), the Company has undertaken to use its best efforts to ensure that the issued Bonds are listed on a regulated market within 12 months from the first issue date, being 6 October 2022 (the "Final Listing Date"). As previously communicated by the Company on 27 October 2022, due to unforeseen events the listing was delayed beyond 27 October 2022, being the final date of the remedy period as set forth in the Terms and Conditions, in turn triggering the occurrence of an event of default under the Terms and Conditions following the end of the remedy period. In connection with the expiration of the remedy period, the Company summoned for a written procedure, asking bondholders to temporarily waive the requirement of having the Bonds admitted to trading by the Final Listing Date.

The application for admission to trading of the Bonds on Oslo Børs' corporate bond list has now been approved and the first day of trading will occur on 14 November 2022. Accordingly, the outstanding event of default communicated on 27 October 2022 will be remedied on the first day of trading on 14 November 2022.

Notwithstanding the remedy of the outstanding event of default, bondholders are still entitled to the waiver fee in the amount equal to 0.25 per cent. of the nominal amount for each Bond subject to the conditions set out in the notice to the written procedure delivered to all bondholders through the CSD and also available on the Company's investor website (https://intl.jotul.com/bonds).

For further information, please contact:

Jøtul AS
Nils Agnar Brunborg,CEO
Tel: +47 906 05 578
E-mail: Nils.Brunborg@jotul.no

Information:
This information is information that Jøtul AS is obliged to make public pursuant to Section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 15:30 CET on 11 November 2022.

Attachment

• Jotul AS Press Release 11.11.22 Bond listing

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