Primary insider notice

Reference is made to the ongoing fully underwritten rights issue (the “Rights issue”) in AqualisBraemar ASA (the “Company”).

Gross Management AS, a company controlled by Glen Rødland, Chairman of the Board, has today subscribed for 2,000,000 rights issue shares, of which 1,547,279 corresponds to the number of subscription rights allocated to him based on his existing shareholding and 452,721 represents over-subscription. As described in the prospectus, Gross Management AS may also be allocated additional shares pursuant to the underwriting agreement. Following the issuance of the new shares in the Rights Issue, Rødland and his close associates will own at least 8,915,275 shares in the Company.

This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.

This announcement may not be distributed or sent into the United States or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. These materials are not an offer for sale of securities in the United States or any other country. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.