BEWI – Approval and publication of a prospectus supplement

Reference is made to the stock exchange announcement published by BEWI ASA ("BEWI" or the "Company") on 1 October 2021, 15 October 2021, and 1 July 2022 regarding the Company's acquisition of Jackon Holding AS ("Jackon") (the "Jackon Transaction"). Reference is further made to the stock exchange announcement on 21 February 2021 regarding the approval and publication of a prospectus prepared by BEWI for the listing of the consideration shares to be issued in connection with the closing of the Company's acquisition of Jackon (the "Prospectus").

The Financial Supervisory Authority of Norway (Nw.: Finanstilsynet) has today approved a prospectus supplement dated 14 October 2022 (the "Prospectus Supplement") to the Prospectus. The Prospectus Supplement has been prepared inter alia due to the publication of audited financial statements as of and for the year ended 31 December 2021 for BEWI and Jackon, in addition to interim financial information for the first half of 2022, as well as other events in BEWI since the Prospectus date for purposes of ensuring that the Prospectus is sufficiently up to date to form the basis for the listing of the consideration shares to be issued in connection with the closing of the acquisition of Jackon.

The Prospectus Supplement has been prepared as a prospectus supplement pursuant to article 23 of the EU Prospectus Regulation (Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 and ancillary regulation), as implemented under Norwegian law. The information contained in the Prospectus Supplement shall be considered an integral part of and is to be read together with, the Prospectus. The Prospectus is available, and the Prospectus Supplement will be made available, on the Company's website at https://bewi.com/investors/reports-presentations. Printed copies of the Prospectus Supplement may be obtained free of charge at the registered offices of the Company at Hammarvikringen 64, 7263 Hamarvik, Frøya, Norway.

As communicated in the stock exchange announcement published on 12 October 2022, BEWI has received final approvals from all relevant competition authorities to proceed with closing of the Jackon Transaction.

Contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

This information is subject to the disclose requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.