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March 21, 2024

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil & gas sectors. The group has offices in 39 countries worldwide and operates under four brands: ABL, OWC, Longitude and AGR.

ABL Group ASA: Initiation of share buyback program

ABL Group ASA (or the “Company”, ticker: “ABL”) has decided to initiate a share buyback program of up to 250,000 of its own shares, representing approximately 0.2% of the outstanding share capital in the Company.

The buyback program will be conducted in accordance with the authorization granted to the Board of Directors at the Annual General Meeting on 31 May 2023.

Under the share buyback program, shares may be acquired for a total maximum amount of NOK 5,000,000 and for a maximum of 250,000 shares.

The number of shares acquired per day shall not exceed 25% of the average daily trading volume in the 20 trading days preceding the relevant purchase date.

The repurchase will be conducted in the period from 20 March 2024 until the date the maximum number of shares have been repurchased. If the repurchase is not completed before the 2024 Annual General Meeting (expected on or about 29 May 2024), the repurchase shall be temporarily paused and may later continue, subject to the Board’s renewed approval, in accordance with a new authorization to repurchase shares expected to be granted to the Board of Directors by the 2024 Annual General Meeting. This means that repurchase of shares may be continued after the date of the 2024 Annual General Meeting, until the earlier of the date the maximum number of shares have been acquired and 30 June 2024.

The purpose of the share buyback program is to meet near term contractual obligations on past M&A transactions and to fulfil obligations in connection with employee share programs. Any shares purchased will be held in treasury until used for the above purposes.

The buyback program will be managed by Arctic Securities AS, which will make its trading decisions in relation to the acquisition of shares independently of, and uninfluenced by, the Company.

The transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014, Commission Delegated Regulation (EU) 2016/1052 and Euronext Oslo Børs’ Guidelines for buyback programs and stabilization dated February 2021.