Equity injection

11 October 2019 – Following the completion of the new NOK 900 million unsecured bond issue (see Ice Group ASA’s announcement dated 25 September 2019), NOK 500 million of equity has been injected into Ice Group Scandinavia Holdings AS.

Ice Group Scandinavia Holdings AS is a wholly owned subsidiary company of Ice Group ASA.

The funds will be used to finance further growth and network build-out in Norway.

ENDS

For further information, please contact:

Investors:

Henning Karlsrud, CFO, tel: +47 930 45 389

Espen Risholm, head of investor relations, tel: +47 924 80 248

Media: Endre Aaberg Johansen, Corporate Communications AS, tel: +47 416 10 605, email: endre.johansen@corpcom.no

About Ice Group ASA

Ice Group is a telecommunications company with nationwide networks in Norway and Denmark. In Norway, the company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers. Ice Group also offers mobile broadband, m2m and IoT services in Denmark through its own network. For more information, see www.icegroup.com.