Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) has mandated Danske Bank and SEB as
Joint Lead Managers and Green Bond Structuring Advisors to arrange a series of
virtual and physical fixed income meetings commencing on May 13, 2024. Subject
to market conditions, one or more NOK denominated senior unsecured floating rate
and/or fixed rate green bond issues with expected tenor(s) of 3-7 years and a
total combined benchmark size may follow.

Nordic Credit Rating has assigned Elopak a 'BBB-' long term issuer credit rating
with "stable outlook". The rating reflects Elopak's strong market position as
the world's largest player in fresh liquid carton packaging, resilient financial
profile and strong balance sheet. The full credit rating report is available on:
https://www.elopak.com/debt-financing/credit-rating/. 

Elopak has established a Green Bond Framework, allowing for the issuance of
green bonds. S&P Global Ratings has provided a second-party opinion ("SPO"),
confirming the Framework's alignment with the 2021 ICMA Green Bond Principles.
The Framework received a "Dark Green" shading under S&P Global Ratings' "Shades
of Green" methodology. 

An amount equal to the net proceeds from the contemplated green bond issuance
will be used in accordance with the newly established Green Bond Framework. The
Green Bond Framework and the SPO are enclosed and available on:
https://www.elopak.com/debt-financing/green-bond-framework/.


For further information, please contact:
Christian Gjerde, Head of Treasury
E-mail: christian.gjerde@elopak.com 
Tel: +47 980 60 909

Elopak ASA
May 8, 2024

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

About Elopak
Elopak is a leading global supplier of carton packaging and filling equipment.
The company's iconic Pure-Pak® cartons are made using renewable, recyclable and
sustainably sourced materials, providing a natural and convenient alternative to
plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021.
Today it employs 2,700 people and sells in excess of 14 billion cartons annually
across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based
Targets to reduce emissions in line with the 1.5 degree trajectory, and aim to
be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were
rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.