Primary insider notice

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

Andreas Theophanatos, Regional Managing Director Brazil in AqualisBraemar, has subscribed for 107 559 rights issue shares, of which 107 559 corresponds to the number of subscription rights allocated to him based on his existing shareholding. Following the issuance of the new shares in the Rights Issue, he and his close associates will own at least 619 747 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.