31 March 2017

Preliminary result of Subsequent Offering

A preliminary account of the received subscriptions shows a total subscribed amount of 25.1 million Offer Shares, corresponding to an oversubscription of approximately 470%.

Reference is made to the stock exchange announcement from Bergen Group ASA (the "Company") on 17 March 2017 regarding commencement of the subsequent offering of up to 4,401,736 new shares in the Company, each with a par value of NOK  1.00 (the "Offer  Shares"), at a subscription price of NOK 1.20 per Offer Share (the "Subsequent  Offering").  

The subscription period for the Subsequent Offering ended today, 31 March 2017 at 16:30.

A preliminary account of the received subscriptions, which is subject to confirmation and may be adjusted, shows a total subscribed amount of 25.1 million Offer Shares, corresponding to an oversubscription of approximately 470%.

The Board of Directors of the Company will resolve the allocation of the Offer Shares on 3 April 2017 according to the allocation principles set out in the prospectus dated 16 March 2017, pursuant to which a separate announcement with the final subscription amount will be published. Payment date for the allotted shares will fall due 5 April 2017 with expected delivery and listing of the Offer Shares on or about 7 April 2017.

Norne Securities AS is acting as manager in the Subsequent Offering.

Advokatfirmaet Thommessen AS is acting as legal advisor to the Company.

Bergen, 31 March 2017
Bergen Group ASA

THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (INCLUDING ITS TERRITORIES ANDPOSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR SOLICITATION TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OF, U.S. PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT), EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF, THE U.S. SECURITIES ACT. ALL OFFERS AND SALES OUTSIDE THE UNITED STATES WILL BE MADE IN RELIANCE ON REGULATION S

UNDER THE U.S. SECURITIES ACT. NO PUBLIC OFFERING OF SECURITIES IS BEING MADE IN THE UNITED STATES.