Orkla has entered into and completed an agreement to sell 100% of the shares in
Lilleborg AS to Solenis, effective as of 12 June 2024. The transaction values
Lilleborg at NOK 600 million on a cash and debt free basis.

Lilleborg supplies professional cleaning solutions and is the market leader in
the Norwegian B2B market. Lilleborg has since 2004 been the exclusive
distributor for Diversey, a Solenis Company, in the Norwegian market, and
offers, in addition, a wide portfolio of products and services. The company has
more than 120 employees.

Solenis is a leading global producer of specialty chemicals for water-intensive
industries. The company has a strong global presence with operations in 130
countries, supported by 69 manufacturing facilities and 16,100 employees. In
March 2023, Solenis announced the acquisition of Diversey.

"This transaction is a milestone in Orkla's new strategy after becoming an
industrial investment company. By reducing the number of portfolio companies and
simplifying our structure, we pave the way for a more targeted and disciplined
capital allocation in the portfolio. We are proud of the 190+ years of Lilleborg
history, both before and during Orkla ownership - having built a strong and
trusted company brand and a position as Norway's market leader within its
industry", says President & CEO of Orkla, Nils K. Selte.

"Lilleborg has historically delivered solid financial results and showed
resilience even in challenging market conditions, thanks to high-quality
products and brands, and a competent, passionate organization. Given the
longstanding collaboration with Diversey in the Norwegian market, we firmly
believe that Solenis is the ideal new home for Lilleborg. We are confident that
they will continue to foster the growth and success of Lilleborg in the future.
Finally, we would like to thank CEO Silje Ebbell Tøge and the rest of the
Lilleborg team for the dedication and hard work over decades and wish them all
the best in their future endeavours", says Maria Syse-Nybraaten, EVP and
Investment Executive in Orkla.

In 2023, Lilleborg had a turnover of NOK 574 million and an EBIT (adj.) of NOK
51 million. Orkla's profit from the sale is estimated to NOK 475 million.

Commenting on the acquisition, John Panichella, CEO, Solenis, said, "We've had a
great partnership with Lilleborg for many years working with our institutional
and food & beverage business, so we are extremely excited to welcome the
Lilleborg team to the Solenis family. Lilleborg's highly competent, motivated
and well-trusted sales, marketing and R&D teams will allow for significant
opportunity to cross-sell water treatment when combined with Solenis'
expertise."

About Lilleborg
Lilleborg is a leading provider of effective and sustainable hygiene and
cleaning solutions to professional and industrial customers in Norway. In 2023,
Lilleborg had a turnover of NOK 574 million and 124 employees. Founded in 1833
and a part of Orkla since 1986, Lilleborg operates from its main office in Oslo,
a warehouse in Ski, and several regional offices across Norway.

About Solenis
Solenis is a leading global producer of specialty chemicals focused on
delivering sustainable solutions for water-intensive industries, including
consumer, industrial, institutional, food and beverage, and pool and spa water
markets. Owned by Platinum Equity, the company is headquartered in Wilmington,
Delaware. Solenis has 69 manufacturing facilities strategically located around
the globe and employs a team of over 16,100 professionals in 130 countries
across six continents.

About Orkla
Orkla is a leading industrial investment company with a focus on brands and
consumer-oriented businesses. Its investment portfolio currently consists of 11
companies operating in sectors including paint, food products, chocolate,
confectionery, snacks, health products and food ingredients. Orkla generated
revenues of NOK 67.8 billion and a pre-tax profit of NOK 6.97 billion in 2023.
As at year-end 2023, Orkla had 19,671 employees. Orkla is listed on the Oslo
Stock Exchange and is headquartered in Oslo, Norway.

Orkla ASA
Oslo, 12 June 2024

Ref.:
EVP Communication and Corporate Affairs
Håkon Mageli
Mobile: +47 928 45 828

SVP Investor Relations
Kari Lindtvedt
Mobile: +47 950 75 114