This disclosure is made pursuant to Chapter 4, Section 4-2 of the Norwegian
Securities Trading Act.

On 27th May 2022, Glenernie Capital Ltd, acting as discretionary investment
manager on behalf of the Glenernie Long/Short Master Fund Ltd and the Vittoria
Fund GC - LP, has decreased its long position in Mercell Holding ASA
(NO0010307143) below the reportable threshold of 5%. The threshold was crossed
as a result of sales of 10,282,333 ordinary shares in Mercell Holding ASA at a
price of NOK 6.02 per share. The number of shares sold corresponds to 2.04% of
the shares of Mercell Holding ASA.

Subsequent to the completion of the sale transactions, the Glenernie Long/Short
Master Fund Ltd and Vittoria Fund GC - LP, holds a total shareholding in Mercell
Holding ASA of 17,555,629 shares which represents 3.49% of the shares
outstanding and voting rights of Mercell Holding ASA.

The shares and rights to shares are owned by the Glenernie Long/Short Master
Fund Ltd and Vittoria Fund GC - LP, which are collective undertakings subject to
investment management by Glenernie Capital Ltd.

If you have any questions with respect to this notification, please contact
Fergus Lee, Compliance Officer of Glenernie Capital Ltd via email at
flee@pelhamcapital.com