Oslo, 24 February 2025: Måsøval Holding AS, a closely associated person of Lars Måsøval, a primary insider in Kaldvik AS, has completed an internal reorganization of own holding companies as further described in the attached forms of notification. The demerger of shares in Nye Måsøval Holding AS is a notifiable event as the value of the shares in Nye Måsøval Holding AS have a value that indirectly depends on the value of the shares in Kaldvik AS.

The demerger establishes a holding structure under which Lars Måsøval owns shares in Nye Måsøval Holding AS through the holding company L Måsøval AS, which already is wholly owned by Lars Måsøval. The transaction entails no changes in the indirect shareholding of Lars Måsøval in Kaldvik AS.

Please see the attached forms for further information regarding the transactions involving closely associated persons of Lars Måsøval.

This information is subject to the disclosure requirements pursuant to Article 19 of the Market Abuse Regulation and Section 5-12 of the Norwegian Securities Trading Act.

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