Element

(Oslo, Norway,20 December, 2019) Element ASA ("Element" or the "Company") has today entered into agreements for the divestment of its holdings (the "Transaction") in Ambershaw Metallics Inc. ("AMI"), i.e. the 7,890,727 shares in AMI (the "Shares"), corresponding to 26.7 % of the currently outstanding share capital of the AMI, and convertible debt, consisting of USD 4,850,000 in principal and, as of 19 December 2019, USD 509,715 in incurred interest (the "Convertible Bond"). The divestment is completed through a sale of the Shares and a partial repayment and refinancing of the Convertible Bond, which will provide the Company with USD 2 million in cash upon closing, and an additional USD 500.000 in cash by July next year.

Reference is made to the announcements disclosed on 10 June 2018 and 22 February 2019 and the details provided therein. Reference is further made to the announcement made on 10 December 2019 regarding the cancellation of the facility agreement with Element.

(Oslo, Norway, 10. desember, 2019) Element ASA (Element, OSE: ELE) har inngått en avtale med European High Growth Opportunities Securitization Fund (EHGO) og Alpha Blue Ocean Inc. (ABO) om terminering og oppgjør av en tidligere inngått avtale. Den nye avtalen gir full kontroll og fleksibilitet for ethvert fremtidig finansieringsinitiativ og vil bidra til å akselerere implementeringen av investeringsstrategien til Element.