ECIT : End of stabilisation period and partial exercise of greenshoe option

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ECIT AS: Finish of stabilisation interval and partial train of greenshoe possibility
Firm announcement No. 18


NOT FOR DISTRIBUTION, RELEASE OR REPUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S.
NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION,
RELEASE OR REPUBLICATION WOULD BE UNLAWFUL.
Oslo, 18 June 2021: Reference is made to the inventory alternate launch by ECIT AS
(the "Firm" or "ECIT") on 20 June 2021, relating to potential stabilisation
actions in reference to a personal placement within the Firm (the
"Providing") and the admission to buying and selling of the Firm's shares on Euronext
Progress Oslo.
Arctic Securities AS (the "Stabilisation Supervisor"), performing as stabilisation
supervisor in reference to the Providing on behalf of the Managers (as outlined
under), hereby provides discover that the stabilisation interval has ended.
Stabilisation actions have been undertaken on Euronext Progress Oslo from and
together with 20 Could 2021 to and together with 18 June 2021. A complete of 5,606,519 shares
within the Firm have been bought as a part of the stabilisation actions. The
shares had been bought at a quantity weighted common value of NOK 7.9630 per share
and throughout the each day value ranges set out within the hooked up stabilisation discover. 

With a purpose to allow redelivery of 6,250,000 shares within the Firm which had been
borrowed from Anglo Provide AS (the "Share Lender"), the Stabilisation Supervisor,
on behalf of the Managers, has on 18 June 2021 knowledgeable the Firm that it'll
train the greenshoe possibility partly to subscribe and buy shares within the
Firm from ECIT. 643,481 new shares within the Firm will probably be subscribed and
bought from the Firm beneath the greenshoe possibility on the supply value of NOK
8 per share.

The shares subscribed and bought beneath the greenshoe possibility will collectively
with the shares bought by means of stabilisation actions be redelivered to the
Share Lender in accordance with the phrases of the share lending and greenshoe
possibility settlement entered into between the Firm, the Share Lender and the
Managers in reference to the Providing.

ABG Sundal Collier ASA and Arctic Securities AS acted as Joint International
Coordinators and Joint Bookrunners for the Providing (the "Managers"). 
For additional info, please contact:

Arctic Securities AS
Joakim Hald Andersen
Tel: +47 21 01 31 92

This info is topic of the disclosure necessities pursuant to
Fee Delegated Regulation (EU) 2016/1052 of 8 March 2016 sections 6 (3)
and eight.

Vital Discover: 
This announcement isn't and doesn't kind part of any supply to promote, or a
solicitation of a proposal to buy, any securities of the Firm. The
distribution of this announcement and different info could also be restricted by regulation
in sure jurisdictions. Copies of this announcement should not being made and will
not be distributed or despatched into any jurisdiction through which such distribution
could be illegal or would require registration or different measures. Individuals into
whose possession this announcement or such different info ought to come are
required to tell themselves about and to watch any such restrictions. The
securities referred to on this announcement haven't been and won't be
registered beneath the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly is probably not supplied or offered in america absent
registration or an relevant exemption from the registration necessities of
the Securities Act and in accordance with relevant U.S. state securities legal guidelines.
The Firm doesn't intend to register any a part of the providing or its
securities in america or to conduct a public providing of securities in
america. Any sale in america of the securities talked about in
this announcement will probably be made solely to "certified institutional consumers" as
outlined in Rule 144A beneath the Securities Act. 
In any EEA Member State, this communication is simply addressed to and is simply
directed at certified buyers in that Member State throughout the that means of the
Prospectus Regulation, i.e., solely to buyers who can obtain the supply with out
an accredited prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended along with any relevant
implementing measures in any Member State. This communication is simply being
distributed to and is simply directed at individuals within the United Kingdom which are
(i) funding professionals falling inside Article 19(5) of the Monetary
Providers and Markets Act 2000 (Monetary Promotion) Order 2005, as amended (the
"Order") or (ii) excessive internet value entities, and different individuals to whom this
announcement could lawfully be communicated, falling inside Article 49(2)(a) to
(d) of the Order (all such individuals collectively being known as "related
individuals"). This communication should not be acted on or relied on by individuals who
should not related individuals. Any funding or funding exercise to which this
communication relates is on the market just for related individuals and will probably be engaged
in solely with related individuals. Individuals distributing this communication should
fulfill themselves that it's lawful to take action. 
Issues mentioned on this announcement could represent forward-looking
statements. Ahead-looking statements are statements that aren't historic
info and could also be recognized by phrases equivalent to "consider", "count on", "anticipate",
"technique", "intends", "estimate", "will", "could", "proceed", "ought to" and
related expressions. The forward-looking statements on this launch are primarily based
upon numerous assumptions, lots of that are primarily based, in flip, upon additional
assumptions. Though the Firm believes that these assumptions had been
cheap when made, these assumptions are inherently topic to important
recognized and unknown dangers, uncertainties, contingencies and different necessary
elements that are tough or unattainable to foretell and are past its management.
Precise occasions could differ considerably from any anticipated improvement as a consequence of a
variety of elements, together with with out limitation, modifications in funding ranges
and wish for the Firm's companies, modifications within the basic financial, political
and market circumstances within the markets through which the Firm operates, the
Firm's capability to draw, retain and inspire certified personnel, modifications
within the Firm's capability to interact in commercially acceptable acquisitions and
strategic investments, and modifications in legal guidelines and regulation and the potential
affect of authorized proceedings and actions. Such dangers, uncertainties,
contingencies and different necessary elements might trigger precise occasions to vary
materially from the expectations expressed or implied on this launch by such
forward-looking statements. The Firm doesn't present any ensures that the
assumptions underlying the forward-looking statements on this announcement are
free from errors nor does it settle for any duty for the longer term accuracy
of the opinions expressed on this announcement or any obligation to replace or
revise the statements on this announcement to replicate subsequent occasions. You
mustn't place undue reliance on the forward-looking statements on this
doc. 
The data, opinions and forward-looking statements contained on this
announcement converse solely as at its date and are topic to vary with out discover.
The Firm doesn't undertake any obligation to evaluate, replace, affirm, or to
launch publicly any revisions to any forward-looking statements to replicate
occasions that happen or circumstances that come up in relation to the content material of this
announcement. Neither of the Joint International Coordinators nor any of their
respective associates makes any illustration as to the accuracy or
completeness of this announcement and none of them accepts any duty
for the contents of this announcement or any issues referred to herein. 
This announcement is for info functions solely and isn't to be relied upon
in substitution for the train of impartial judgment. It isn't supposed as
funding recommendation and on no account is it for use or thought of as
a proposal to promote, or a solicitation of a proposal to purchase any securities or a
suggestion to purchase or promote any securities within the Firm. Neither the Joint
International Coordinators nor any of their respective associates accepts any legal responsibility
arising from using this announcement. 


Any questions could also be addressed to COO Christine Lundberg Larsen,
christine.larsen@ecit.com, +47 452 11 552