NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS (the “Company”) on 13 November 2025 regarding the board's proposal that an extraordinary general meeting resolves to issue 12,707,454 new shares (the "New Shares") in a private placement raising gross proceeds of NOK 157 million (the "Private Placement") directed towards Jerónimo Martins Agro-Alimentar, S.A. a wholly owned subsidiary of Jerónimo Martins SGPS. The subscription price in the Private Placement shall be NOK 12.375 per New Share.

The Company hereby calls for an extraordinary general meeting to be held on 27 November 2025 at 10:00 (CET) at the Company's premises to resolve:

(i) Capital increase by way of private placement; and

(ii) Election of member to the Board of Directors.

The notice and agenda of the general meeting is attached to this stock exchange announcement and will also be made available on the Company's webpage.

For further information, please contact:

Christian Riber, Chief Executive Officer, phone: +47 905 37 990, E-mail: [email protected]

Stian Vollan-Hansen, Chief Financial Officer, phone: + 47 481 78 846, E-mail: [email protected]