Reference is made to Elopak ASA's ("Elopak", Oslo Børs Ticker: ELO)announcement
on May 8, 2024 regarding fixed income meetings and contemplated NOK Green Bond
issuance.

Elopak, rated BBB-/Stable by Nordic Credit Rating, has today successfully issued
senior unsecured green bonds with a total amount of NOK 2.5 billion. The
transaction was split into three tranches:

· NOK 750 million, 3-year bond with floating rate coupon of 3 months Nibor
+1.20% p.a.

· NOK 1.250 million, 5-year bond with floating rate coupon of 3 months Nibor
+1.50% p.a.

· NOK 500 million, 7-year bond with fixed rate coupon of 5.48%.

The inaugural Green Bond transaction was substantially oversubscribed.

An amount equal to the net proceeds from the green bond issuance will be used in
accordance with Elopak's Green Bond Framework, including inter alia refinancing
of debt originally incurred to finance such green projects. The bonds will be
swapped to EUR.

The settlement date is set to May 28, 2024 and Elopak will apply for the green
bonds to be listed at Oslo Stock Exchange.

Danske Bank and SEB acted as Joint Lead Managers and Green Bond Structuring
Advisors for the transaction. Schjødt acted as legal counsel.

Elopak ASA

Oslo, May 15, 2024

For further information, please contact: Christian Gjerde, Head of Treasury
E-mail: christian.gjerde@elopak.com Tel: +47 980 60 909

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

About Elopak Elopak is a leading global supplier of carton packaging and filling
equipment. The company's iconic Pure-Pak® cartons are made using renewable,
recyclable and sustainably sourced materials, providing a natural and convenient
alternative to plastic bottles that fits within a low carbon circular economy.
Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021.
Today it employs 2,700 people and sells in excess of 14 billion cartons annually
across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based
Targets to reduce emissions in line with the 1.5 degree trajectory, and aim to
be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were
rated top 2% sustainable companies in the world. For more information, go to
www.elopak.com or follow us @Elopak on LinkedIn.

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© Oslo Bors ASA, source Oslo Stock Exchange