Scandic Hotels Group AB (publ) ("Scandic" or the "Company") announces that its rights issue (the "Rights Issue"), where the subscription period ended on June 17, 2020, has been fully subscribed. The final result in the Rights Issue shows that 86,907,312 shares, corresponding to approximately 98.5 percent of the offered shares, were subscribed for with subscription rights. The remaining 1,365,606 shares have been allotted to those who have subscribed for shares without subscription rights. The Rights Issue is therefore fully subscribed and provides Scandic with proceeds amounting to approximately SEK 1,765m before issue costs.

The result shows that 86,907,312 shares, corresponding to approximately 98.5 percent of the offered shares in the Rights Issue, have been subscribed for by the exercise of subscription rights. The remaining 1,365,606 shares that were not subscribed for with subscription rights have been allotted to those who have subscribed for shares without subscription rights in accordance with the principles described in the prospectus. Interest in the Rights Issue has been high and as a result, the Rights Issue was oversubscribed by 51.6 percent. The Rights Issue is thus fully subscribed and none of the underwriting commitments have been utilised.

Notification regarding allotment of shares which have been subscribed for without subscription rights will be distributed on or about June 24, 2020 by contract note to subscribers or nominees. Subscribed and allotted new shares shall be paid in cash on or about June 29, 2020, in accordance with the instructions on the contract note. Nominee registered shareholders will receive notification regarding allotment of shares in accordance with the respective nominee's procedures.

The Rights Issue provides Scandic with proceeds amounting to approximately SEK 1,765m before issue costs. As a result of the Rights Issue, Scandic's share capital will increase by SEK 22,068,229.50 to a total of SEK 47,814,498.25 and the total number of shares will increase by 88,272,918 shares to a total of 191,257,993 shares.

New shares subscribed for with subscription rights are expected to be registered with the Swedish Companies Registration Office on or about June 25, 2020 and trading in the new shares on Nasdaq Stockholm is expected to commence on or about June 29, 2020. The shares subscribed for without subscription rights are expected to start trading on Nasdaq Stockholm on or about July 6, 2020.

Advisers

Goldman Sachs International and DNB Markets, a part of DNB Bank ASA, Sweden Branch, are acting as Joint Global Coordinators and Joint Bookrunners; Svenska Handelsbanken AB (publ) and Nordea Bank Abp, filial i Sverige, are acting as Joint Bookrunners; and Vinge and Nord Advokater are acting as legal advisers to the Company in connection with the Rights Issue. Goldman Sachs International, DNB Markets, a part of DNB Bank ASA, Sweden Branch, Svenska Handelsbanken AB (publ) and Nordea Bank Abp, filial i Sverige, acted as Joint Financial Advisers to Scandic in respect of the Company's financing options.

For more information, please contact:

Jan Johansson, CFO
Email: jan.johansson@scandichotels.com
Phone: +46 705 75 89 72

Henrik Vikström, Director Investor Relations
Email: henrik.vikstrom@scandichotels.com
Phone: +46 709 52 80 06

The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CEST on June 24, 2020.

Important information

This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, any Member State of the European Economic Area ("EEA") or any other jurisdiction.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold, directly or indirectly, in the United States absent registration under or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company and its management, as well as financial statements. Copies of this announcement are not being, and should not be, distributed in or sent into the United States.

This announcement is not a prospectus for the purposes of the Prospectus Regulation. Any purchase of securities of Scandic pursuant to the Rights Issue should only be made on the basis of the information contained in the formal prospectus which has been issued in connection with the Rights Issue and was approved by the Swedish Financial Supervisory Authority on 1 June 2020 (the "Prospectus") and the supplement prepared in accordance with article 23 of the Prospectus Regulation which was approved and registered by the Swedish Financial Supervisory Authority on 10 June, 2020, (the "Supplement"), as well as any supplement or amendment thereto. The Prospectus and the Supplement relating to the Rights Issue contains detailed information about Scandic and its management, as well as financial statements and other financial data. The Prospectus and the Supplement are available at the offices of Scandic at the address stated above.

Offers to the public are permitted in Sweden, Denmark, Norway and Finland from and including the date of approval of the prospectus by the competent authority in Sweden and notified to the relevant competent authorities in other Member States of the EEA in accordance with the Prospectus Regulation ("Prospectus Publication"), through to and including the settlement date.

Elsewhere in the EEA, and in advance of Prospectus Publication, this announcement and this offering are only addressed to and directed at persons in Member States of the EEA, who are "Qualified Investors" within the meaning of Article 2(1)(e) of the Prospectus Regulation. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with Qualified Investors. This announcement should not be acted upon or relied upon in any member state of the EEA by persons who are not Qualified Investors.

"Prospectus Regulation" means Regulation (EU) 2017/1129 (as amended), and includes any relevant implementing measure in any Member State concerned.

This announcement is only for distribution to and is directed only at persons who (i) have professional experience in matters relating to investments which fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom this announcement, to the extent that it constitutes an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may lawfully be communicated or caused or be communicated, or who otherwise may receive this announcement on the basis that section 21 of the Financial Services and Markets Act 2000 does not apply (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only relevant persons.

About Scandic Hotels Group
Scandic is the largest hotel company in the Nordic countries with more than 280 hotels, in operation and under development, in more than 130 destinations. The Company is the leader when it comes to integrating sustainability in all operations and its award-winning Design for All concept ensures that Scandic hotels are accessible to everyone. Well loved by guests and employees, the Scandic Friends loyalty program is the largest in the Nordic hotel industry and the Company is one of the most attractive employers in the region. Scandic Hotels is listed on Nasdaq Stockholm. www.scandichotelsgroup.com