13.1.2022 19:50:34 CET | Skitude Holding AS | Acquisition or disposal of the issuer's own shares

The Board of Directors of Canopy Holdings AS (the “Company”) has resolved to initiate a share buyback program. The share buyback program is in accordance with the power of attorney granted to the Board by the Extraordinary General Meeting of the Company on 7 December 2021.

The share buyback program will be for a maximum of 2,500,000 shares, equivalent to approx. 2.8% of the share capital of the Company. The program will commence on 14 January 2022 and will be in force until the earlier of the maximum number of shares as set out above has been acquired, and 31 May 2022.

Shares repurchased under the program will be used to fulfill the Company's obligations under its employee stock option agreements established March 2021 for options that are expected to vest before the next AGM, its board stock option agreements established December 2021 for options that are expected to vest before the next AGM and its Share program for key employees of Catalate also established December 2021.

The shares shall be purchased on Euronext Growth, Oslo. The program will be managed by Pareto Securities, which will make its trading decisions independently of, and uninfluenced by, the Company. Please note this may result in the Company buying shares during periods where the Company otherwise would have been restricted.

 DISCLOSURE REGULATION

The share buyback program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation"). This is information made public by the Company pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Disclosure regulation

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

Contacts

• Bent Grøver, CEO, +47 95 04 03 92, bent@skitudegroup.com
• Ivar Blekastad, CFO, +47 48 26 36 70, ivar@skitudegroup.com

About Skitude Holding AS

Canopy Holdings AS is a multi-national technology company listed on Euronext Growth Oslo. The company owns a leading portfolio of brands and companies that provides digitalization solutions to resorts, destinations, parks and attractions in key markets. Canopy Holdings AS currently consists of Catalate, Liftopia.com, Skioo, Skitude and Spotlio.