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Regulatory press release

Kaldvik AS: Approval of loan covenant waiver

Kaldvík
Reykjavik, 16 December 2024:  Kaldvik AS has initiated a waiver process with its
lenders regarding the financial covenants in its senior bank debt facility of
EUR 179.9 million. This process has now been successfully concluded.

The lenders have granted a waiver of the following covenants for Q4 2024:

* The interest cover shall at all times be equal to or more than 3.0x
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