Mo i Rana, 26 January 2026.

Reference is made to announcement by the Norwegian Financial Supervisory
Authority on 26 January 2026 that it has approved the offer document for the
recommended voluntary cash offer (the "Offer") by Drakkar BidCo AS (the
"Offeror") to acquire all issued and outstanding shares of Rana Gruber ASA
("Rana Gruber" or the "Company") (the "Shares") for a cash consideration of NOK
79 per Share.

Pursuant to section 6-16 of the Norwegian Securities Trading Act, the Board of
Directors of Rana Gruber shall provide a statement on the Offer. The Financial
Supervisory Authority of Norway, in its capacity as take-over supervisory
authority, has decided that the statement on the Offer shall be issued by an
independent expert and not by the Board of Directors of the Company, and that
such statement can be issued by SB1 Markets AS ("SB1M") on behalf of Rana
Gruber, ref. section 6-16 of the Norwegian Securities Trading Act.

The statement by SB1M is attached to this announcement.

The recommendation from the Board of Directors of Rana Gruber, which is not the
statement provided under section 6-16 of the Norwegian Securities Trading Act,
is also attached to this announcement.

For further information, contact:
 
Gunnar Moe, CEO of Rana Gruber
Telephone: +47 941 47 650
E-mail: [email protected] 

Mats Samdahl Weltz, Salto Advisers AS
Telephone: +47 950 46 330
E-mail: [email protected]

About Rana Gruber: 

The Company is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The Company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The Company has about 370 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates

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