Orkla announced on 26 October 2023 that it had agreed to enter a partnership
with investment funds affiliated with Rhône Capital (together with certain
affiliates, "Rhône") whereby Rhône would acquire 40% of the shares in Orkla Food
Ingredients AS ("OFI").

The transaction has today been completed. The purchase price paid for 40% of the
shares in OFI amounts to EUR 213.5 million (approx. NOK 2.5 billion), consisting
of EUR 188.0 million (approx. NOK 2.2 billion) in cash and EUR 25.5 million
(approx. NOK 0.3 billion) in interest-bearing seller credit.

Following completion, OFI's net interest-bearing debt amounts to approx. NOK 6.8
billion, including a subordinated loan from Orkla ASA totalling approx. NOK 1.0
billion. The release dated 26 October 2023 is available here:

https://investors.orkla.com/English/ir-news/ir-news-details/2023/Orkla-announces
-OFI-partnership-with-Rhne/default.aspx

The transaction will have accounting effect from 17 April 2024.

About Orkla:

Orkla is a leading industrial investment company with a focus on brands and
consumer-oriented companies. Its investment portfolio currently consists of 12
companies operating in sectors including paint, food products, chocolate,
confectionery and 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.

About Rhône:

Rhône, established in 1996, is a global private equity firm with a focus on
investments in businesses with a transatlantic presence. Rhône's investment
philosophy includes the development of strong, strategic partnerships with the
companies in which it invests.  Rhône has a history of completing corporate
carve-out transactions and working with entrepreneur and family-led businesses,
and operates across its London, New York, Madrid, and Milan offices. Rhône has
invested in a diversified portfolio of companies including investments in the
consumer and industrial sectors. For more information about Rhône, its
investment professionals, and its current portfolio, please visit:
https://www.rhonegroup.com.

Orkla ASA
Oslo, 17 April 2024

Ref.:

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

SVP Investor Relations
Kari Lindtvedt
Tel.: +47 950 75 114

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