Share buy-back offer

At the AGM of Treasure ASA (“the Company”) on 18 March 2021, the company got an authorisation to acquire up to 10% of outstanding shares in the Company, valid until the AGM in 2022. The Company hereby launches an offer to all shareholders to buy back up to 6 000 000 shares in Treasure ASA.

The Company is at the release of the offer not in possession of material non-public information neither regarding the Company itself nor the main asset on the Company’s balance sheet.

The offer will be carried out by means of a book building process with a bid price of up to NOK 15.70 per share, 4,4% above the volume weighted average share price for the last 30 days of NOK 15.04 per share. The Company is of the opinion that the bid price is warranted by the relatively large size of the shares in the offering compared to average traded daily volume, current market conditions, and the overall low liquidity in the shares.

The book building starts on 15 November 2021 11:00 and ends on 17 November 2021 at 16:30. The Company has mandated SEB as sole bookrunner and shareholders wanting to sell shares can contact SEB at +47 22 82 72 49.

The Company will – in the event of receiving acceptances above 6 000 000 shares – allocate shares with the equal treatment of the shareholders as the primary objective.

Pricing and allocation will follow before 18:00 on 17 November, the trade date will be 17 November with settlement date 19 November 2021.

For further information, please contact: Magnus Sande, CEO of Treasure ASA, +47 915 55 051.

The information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

The Offer and the distribution of this announcement and other information in connection with the offer may be restricted by law in certain jurisdictions. The Company does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions. The offer is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States"). This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported acceptance.