On 17 December 2024, Elmera Group entered into an agreement to sell its shares
in the Group's associate Metzum AS to Rieber & Søn. The transaction is based on
an enterprise value of Metzum AS of NOK 400m and the agreed consideration for
Elmera Group's 4.3 million shares and 40% ownership in Metzum AS is NOK 160m.
The carrying amount of the investment in the associate is currently valued at
NOK 21m in Elmera Group's consolidated financial statements. 

The sale is a successful demonstration of Elmera Group's ability and strategy to
develop and create value through spin-offs, also exemplified through Fjordkraft
Mobil.


Metzum provides rating and billing services through its modular SaaS solution,
Moment. This is an open and flexible technology platform designed to automate
processes and handle large volumes of data. The software is specifically
tailored for electricity retail companies and grid operators but also serves
customers in district heating and broadband sectors.

Leveraging its strong market position from the outset through Elmera Group and
market leader Fjordkraft, Metzum has built a solid market position both in the
electricity retail market and in adjacent markets and the company is now
achieving success well beyond Elmera Group and is expanding further into the
Nordics.

"We are very proud of the development of Metzum in cooperation with Rieber & Søn
and the employees over the last five years and look forward to closely follow
the company's development also in the future. Metzum will remain an important
vendor partner to Elmera Group as the Group's provider of rating and billing
solutions," says Arnstein Flaskerud, EVP Head of Strategy, Sustainability and
M&A in Elmera Group.

"We at Rieber & Søn would like to express our gratitude for the excellent
collaboration with Elmera Group as co-founders and co-owners of Metzum over the
past five years. As Rieber & Søn now becomes the majority owner, we look forward
to leading the company into its next phase as an established market leader, with
Elmera Group continuing to be a key customer and partner in Norway and the
Nordic region. We are also excited to continue to work closely with the highly
skilled employees at Metzum to drive further growth and success," says Trond
Valvik, Head of Investments at Rieber & Søn and Chair of the Board at Metzum.

"On behalf of Metzum, I would also like to thank Elmera Group for their valuable
contributions, both as co-owners and as a key customer, whose collaboration has
played a crucial role in shaping our market-leading solution. With Rieber & Søn
as a strong, long-term owner, we're excited about the future while continuing
our close partnership with Elmera Group in the Nordics," says Johnny Haugsbakk,
CEO of Metzum.

The expected closing date is 23 December 2024.

For further information, please contact:

Henning Nordgulen, Group CFO, +47 952 65 990


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