NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

The board unanimously recommends a cash offer from Krow Bidco to acquire all outstanding shares in Heroic Group AS.

OFFER SUMMARY:

- Heroic Group AS ("Heroic" or the "Company") has entered into a transaction agreement whereby Krow Bidco AS (the "Offeror") will offer to acquire all issued and outstanding shares in Heroic (the "Offer") against a cash consideration of NOK 2.00 per share

- The board of directors of Heroic unanimously recommends the shareholders of Heroic to accept the Offer.

- Shareholders representing approx. 42%, including members of Heroic's board and executive management, have signed conditional share purchase agreements with the Offeror for the sale of their shares in Heroic at the Offer Price. The share acquisition is subject to the Offeror having entered into share purchase agreements to acquire in total 75% of all outstanding shares in the Company (the "75% Threshold").


For further information, please contact:

Joachim Harg, Head of Finance and Investor Relations
harg@heroic.gg
+47 911 25 560