NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.<br />
<br />
Kalera AS: End of stabilisation<br />
<br />
Oslo, 27 November 2020: Reference is made to the stock exchange notice published
on 28 October 2020 regarding potential stabilisation activities in respect of
the shares in Kalera AS ("Kalera" or the "Company") in connection with the
Company's private placement and subsequent listing on Merkur Market (the
"Offering").<br />
<br />
Arctic Securities AS ("Arctic"), acting as stabilisation manager in connection
with the Offering, hereby gives notice that stabilisation was undertaken in
relation to the shares in Kalera with a total of 3,100,000 shares purchased as
part of the stabilisation. The shares were purchased at an average price of NOK
24.25 per share and stabilisation activities last occurred on 27 November 2020.
For each of the dates during which stabilisation transactions were carried out,
the price range and average price paid were as follows:<br />
<br />
Trade date	Price (low)	Price (high)	Price (average)<br />
28.10.2020	21.80	27.00	24.55<br />
29.10.2020	22.10	24.00	23.30<br />
30.10.2020	22.00	24.00	23.18<br />
02.11.2020	20.68	22.50	21.29<br />
03.11.2020	20.20	21.55	20.61<br />
04.11.2020	19.37	20.96	20.04<br />
05.11.2020	21.20	23.50	22.35<br />
06.11.2020	22.48	24.00	22.90<br />
09.11.2020	24.20	25.59	24.89<br />
10.11.2020	24.80	25.50	25.28<br />
11.11.2020	25.75	26.55	26.23<br />
12.11.2020	25.40	26.20	25.69<br />
13.11.2020	26.00	26.80	26.46<br />
16.11.2020	26.50	27.00	26.73<br />
17.11.2020	26.00	27.50	26.76<br />
18.11.2020	25.69	26.80	26.13<br />
19.11.2020	26.89	27.70	27.15<br />
20.11.2020	27.40	27.80	27.61<br />
23.11.2020	26.72	28.00	27.13<br />
24.11.2020	26.50	27.00	26.85<br />
25.11.2020	25.30	26.90	26.06<br />
26.11.2020	25.70	26.00	25.77<br />
27.11.2020	25.00	26.50	26.00<br />
<br />
<br />
Arctic will redeliver the 3,100,000 shares purchased through stabilisation
transactions to Convexa AS, a company owned by the Chairman of the Board of
Directors of the Company in accordance with the terms of an agreement between
the parties. The redelivery obligation under the lending agreement will be
satisfied in full by the redelivery and the stabilisation manager will thus not
exercise its greenshoe option to acquire shares from the Company. Reference is
made to the Admission Document published in relation to the admission to trading
of the Company's shares on Merkur Market for additional descriptions of these
arrangements. <br />
<br />
After the redelivery of shares, Convexa AS holds 5,166,177 shares in Kalera,
representing 3.21% of the outstanding shares in the Company. <br />
<br />
For further information, please contact:<br />
<br />
Arctic Securities AS <br />
Joakim Hald Andersen<br />
Tel: +47 21 01 31 92<br />
<br />
Important notice:<br />
<br />
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. 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.<br />
<br />
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 in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A
under<br />
the Securities Act.<br />
<br />
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.<br />
<br />
This communication is only being distributed to and is only directed at persons
in the United Kingdom 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.<br />
<br />
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 Company believe 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. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. <br />
<br />
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.<br />
<br />
Neither the Manager nor any of their affiliates makes 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.<br />
<br />
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 of the Company. Neither the Manages
nor any of its affiliates accepts any liability arising from the use of this
announcement.<br />
<br />
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.