NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, HONG KONG,
SOUTH AFRICA OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. 

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES,
CANADA, AUSTRALIA, JAPAN, HONG KONG OR SOUTH AFRICA.

Segulah IV L.P. ("Segulah"), AlpInvest Partners Co-Investments 2012 I CV, and
AlpInvest Partners Co-Investments 2011 II CV (together the "Sellers") have
retained Pareto Securities AS and SpareBank 1 Markets AS as Joint Managers and
Joint Bookrunners (the "Managers") to execute a block sale of existing shares
(the "Offering") in Beerenberg AS (the "Company").

The Sellers have, as of this announcement, successfully sold 6,072,683 shares in
the Company (the "Offer Shares"), which equals approximately 24.7% of the
Company's outstanding shares, at a price of NOK 27.00 per Offer Share, which
equals gross proceeds of approximately NOK 164 million.

Following the Offering, the Sellers hold no shares in the Company.

Segulah is a close associate of two primary insiders in the Company: board
member Sebastian Ehrnrooth and shareholder representative Oskar Oxenstierna. As
a result of the successful Offering, it is expected that Sebastian Ehrnrooth
will step down as board member in the Company at the next general meeting in the
Company and Oskar Oxenstierna will immediately be deregistered as shareholder
representative in the Company.

The Sellers continue to be strong believers in the Company and the underlying
market. However, Segulah has reached maturity and is therefore in the process of
exiting all holdings in order to return capital to investors. 

In connection with the Company's IPO on Euronext Growth Oslo in October 2023,
the Sellers entered into a customary lock-up for a period of 9 months. The
lock-up commenced on 5 October 2023 (the Company's first day of trading on
Euronext Growth Oslo), and the final day in the lock-up period was thus 4 July
2024. 

The Sellers will receive the net proceeds from the Offering. The Company will
not receive any proceeds from the Offering.

The PDMR notice relating to the sale of Offer Shares by Segulah is attached to
this announcement.

This disclosure is made pursuant to article 19 of the EU Market Abuse Regulation
(MAR) and section 5-12 of the Norwegian Securities Trading Act and contains
information deemed to constitute inside information pursuant to MAR.

This announcement was published by Harald Haldorsen, CFO of Beerenberg AS on 5
July 2024 at 13:45.

Important Notices:

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering or its
securities in the United States or to conduct a public offering of securities in
the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended together with any
applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are "qualified investors" within the meaning of the
Prospectus Regulation as it forms part of English law by virtue of the European
Union (Withdrawal) Act 2018 and that are (i) investment professionals falling
within Article 19(5) of the Financial Services  and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Seller believes that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict and are beyond their control.

By their nature, forward-looking statements are subject to numerous factors,
risks and uncertainties that could cause actual outcomes and results to be
materially different from those projected. Readers are cautioned not to place
undue reliance on these forward-looking statements. Except for any ongoing
obligation to disclose material information as required by the applicable law,
the Seller does not have any intention or obligation to publicly update or
revise any forward-looking statements after they distributes this announcement,
whether to reflect any future events or circumstances or otherwise.

Neither the Managers nor any of their respective affiliates make any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

Each of the Managers is acting for the Sellers only in connection with the
Offering and no one else, and will not be responsible to anyone other than the
Sellers for providing the protections offered to clients nor for providing
advice in relation to the Offering, the contents of this announcement or any
transaction, arrangement or other matter referred to in this announcement.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.