3 Godkjennelse av innkalling og dagsorden 3 Approval of the notice and agenda

Transkript

1 INNKALLING TIL EKSTRAORDINÆR GENERALFORSAMLING I ICE GROUP AS NOTICE OF EXTRAORDINARY GENERAL MEETING IN ICE GROUP AS Styret innkaller herved til ekstraordinær generalforsamling i ICE Group AS, org.nr («Selskapet»), 15. juni 2018 kl i lokalene til Advokatfirmaet BAHR AS, Tjuvholmen allé 16, 0252 Oslo. The Board of Directors hereby convenes an extraordinary general meeting in ICE Group AS, reg.no (the Company ), 15 June 2018 at 10:00 (CET) in the offices of Advokatfirmaet BAHR AS, Tjuvholmen allé 16, 0252 Oslo, Norway. Registrering av fremmøtte finner sted fra kl Følgende saker foreligger til behandling: Registration of attendance will take place from 09:30 (CET). The following items are on the agenda: 1 Åpning av generalforsamlingen ved Johan Bernt Michelsen som styret har utpekt til å åpne møtet. Registrering av møtende aksjeeiere, herunder aksjeeiere representert ved fullmakt 2 Valg av møteleder og person til å undertegne protokollen sammen med møtelederen 1 Opening of the general meeting by Johan Bernt Michelsen which the board of directors has appointed to open the meeting. Registration of participating shareholders, including shareholders represented by proxy 2 Appointment of chair of the meeting and person to sign the minutes together with the chair 3 Godkjennelse av innkalling og dagsorden 3 Approval of the notice and agenda 4 Godkjennelse av salget av AINMT Group Brazil Holdings BV til Access 4 Approval of sale of AINMT Group Brazil Holdings BV to Access AINMT Holdings AB har mottatt et tilbud om å selge 100 % av aksjene i AINMT Group Brazil Holdings BV («Transaksjonen») til AI Media Holdings (NMT) LLC (eller et tilknyttet selskap) («Access») mot en samlet kjøpesum på USD 70 millioner. Access vil betale for aksjene etter signering av aksjekjøpsavtalen. Hvis Transaksjonen blir terminert kan, Access og Selskapet, på nærmere angitte vilkår, bestemme at plikten til å tilbakebetale kjøpesummen med tillegg av renter skal gjøres opp ved utstedelse til Access av nye aksjer i Selskapet. AINMT Holdings AB has received an offer to sell 100% of the shares in AINMT Group Brazil Holdings BV (the Transaction ) to AI Media Holdings (NMT) LLC (or an affiliated company) ( Access ) at against aggregate purchase price of USD 70 million. Access will prepay for the shares upon signing of the share purchase agreement. If the Transaction is terminated, Access and the Company may, subject to certain conditions, determine that the obligation to repay the purchase price plus interest shall be settled through the issue to Access of new shares in the Company. # /1 1 (10)

2 5 Fullmakt til utstedelse av konvertibelt lån i forbindelse med salget av AINMT Group Brazil Holdings BV 5 Authorisation to issue of a convertible bond in connection with the sale of AINMT Group Brazil Holdings BV På bakgrunn av sak 4 er det foreslått at Selskapet utsteder et konvertibelt lån der Access, på de vilkårene som følger av avtalen om salg av aksjene i AINMT Group Brazil Holdings BV, kan kreve at Selskapet utsteder aksjer til Access for å gjøre opp forpliktelsen til å tilbakebetale kjøpesummen med tillegg av renter dersom Transaksjonen blir terminert. Styret foreslår at generalforsamlingen tildeler styret fullmakt til å utstede et slikt konvertibelt lån i henhold til aksjeloven 11-8, slik at dette lånet til Access kan utstedes uten avholdelse av ytterligere en generalforsamling i Selskapet. På denne bakgrunn foreslår styret at generalforsamlingen fatter følgende vedtak: Against the background of item 4 above, it is proposed that the Company issues a convertible loan where Access, on the terms of the agreement regarding sale of the shares in AINMT Group Brazil Holdings BV, may require that the Company issues shares to Access to settle the obligation to repay the purchase price plus interest if the Transaction is terminated. The Board of Directors proposes that the General Meeting authorises the Board of Directors to issue such convertible loan in accordance with Section 11-8 of the Private Limited Companies Act, so that this loan to Access may be issued without holding of another General Meeting in the Company. On this basis the Board of Directors proposes that the General Meeting adopt the following resolution: 1) «Styret gis fullmakt til å treffe beslutning om opptak av lån som nevnt i aksjeloven ) Det samlede beløp for lån som kan tas opp, er NOK 800 millioner (eller tilsvarende beløp i annen valuta basert på valutakursen den dag låneavtalen inngås). 3) Aksjekapitalen kan i alt forhøyes med inntil NOK 24 millioner. 4) Fullmakten gjelder i to år fra generalforsamlingens beslutning om å tildele fullmakten. 5) Aksjeeiernes fortrinnsrett ved tegning av lånene etter aksjeloven 11-4, jf og 10-5, kan fravikes. 6) Fullmakten kan bare benyttes til å 1) The Board of Directors is authorized to adopt resolutions regarding borrowings as mentioned in Section 11-1 of the Private Limited Companies Act. 2) The aggregate amount of loans that may be borrowed is NOK 800 million (or a corresponding amount in another currency based on the exchange rate on the day the loan agreement is entered into). 3) The share capital may in total be increased by up to NOK 24 million. 4) The authorization applies for two years from the General Meeting s resolution to grant the authorization. 5) The shareholders pre-emptive rights upon subscription of the loans pursuant to Sections 11-4 cf and 10-5 of the Private Limited Companies Act may be deviated from. 6) The authorization may only be utilized to # /1 2 (10)

3 utstede et konvertibelt lån til AI Media Holdings (NMT) LLC (eller et tilknyttet selskap) for å oppfylle forpliktelsene i henhold til avtale om salg av aksjene i AINMT Group Brazil Holdings BV til AI Media Holdings (NMT) LLC (eller et tilknyttet selskap). Dessuten kan fullmakten bare benyttes dersom styrets beslutning om å utstede et slik konvertibelt lån er enstemmig. 6 Fisjon av Selskapet der ICE Group International AS er overtakende selskap issue a convertible loan to AI Media Holdings (NMT) LLC (or an affiliated company)] to satisfy the obligations in accordance with the agreement regarding sale of the shares in Ice Group Brazil Holdings BVAINMT Group Brazil Holdings BV to AI Media Holdings (NMT) LLC (or an affiliated company). Moreover, the authorization may only be utilised if the resolution by the board of directors to issue such convertible loan is passed by unanimous decision. 6 De-merger of the Company, with ICE Group International AS as the transferee company Det er foreslått at Selskapet fisjoneres med Ice Group International AS, org.nr , som overtakende selskap. Styret foreslår at generalforsamlingen fatter følgende vedtak: «Fisjonsplan datert 1. juni 2018 for fisjon av Selskapet godkjennes. Ved fisjonens ikrafttredelse overfører Selskapet nærmere angitte eiendeler til Ice Group International AS AS, org. no , ( Ice International ), som er overtakende selskap. Den nærmere fordeling av eiendeler, rettigheter og forpliktelser på Selskapet og Ice International fremgår av redegjørelsen for fisjonsplanen inntatt i vedlegg 2.2 til fisjonsplanen. Fisjonen innebærer at netto virkelig verdi i Selskapet fordeles med 90 % på Selskapet og 10 % på Ice International. Bytteforholdet er basert på virkelig verdi av Ice International og de eiendeler i Selskapet som fordeles ved fisjonen. Ved fisjonens ikrafttredelse nedsettes aksjekapitalen i Selskapet med NOK ,90 mens overkursen reduseres med NOK Aksjekapitalen settes ned ved at pålydende per aksje reduseres fra It is proposed that the Company de-merge with Ice Group International AS, org. no , as transferee company. The Board of Directors proposes that the General Meeting pass the following resolution: «The de-merger plan dated 1 June 2018 for the de-merger of the Company is approved. Upon the effective date of the de-merger, the Company transfers further specified assets to Ice Group International AS, org. no , ( Ice International ), which is the transferee company. The specific allocation of assets, rights and liabilities between the Company and Ice International is stipulated in the explanatory statement on the de-merger plan set out in Appendix 2.2 to the de-merger plan. The de-merger implies that the net fair value in the Company shall be allocated with 90% on the Company and 10% on Ice International. The exchange ratio is based on the fair value of Ice International and the assets in the Company allocated in the de-merger. Upon the effective date of the de-merger, the share capital of the Company shall be reduced by NOK 4,933,403.90, whilst the share premium shall be reduced by NOK 165,826,000. The share capital shall be # /1 3 (10)

4 NOK 1 til NOK 0,90. Denne beslutningen skal straks meldes til Foretaksregisteret.» reduced by the nominal value of each share being reduced from NOK 1 to NOK This resolution shall be reported to the Register of Business Enterprises immediately.» 7 Endring av selskapets vedtekter som følge av fisjonen 7 Amendment of the Articles of Association of the company as a consequence of the de-merger Styret foreslår at generalforsamlingen fatter følgende vedtak, med virkning fra fisjonens ikrafttredelse: «4 Aksjekapitalen Aksjekapitalen er NOK ,10 fordelt på aksjer hver pålydende NOK 0,90. Aksjene skal registreres i Verdipapirsentralen.» The Board of Directors proposes that the General Meeting pass the following resolution, with effect from the effective date of the demerger: «Article 4 Share capital The share capital shall be NOK 44,400, divided on 49,334,039 shares each with a nominal value of NOK The shares shall be registered with Verdipapirsentralen.» 8 Endring av vilkårene for tidligere utstedte frittstående tegningsretter 8 Amendments to the conditions of previously issued subscription rights Generalforsamlingen besluttet 30. oktober 2015 å utstede et konvertibelt lån og frittstående tegningsretter til RASMUSSENGRUPPEN AS, org.nr , («RG») på bakgrunn av en låneavtale inngått samme dag mellom Selskapet som låntaker og RG som långiver («RG Låneavtalen»). Som følge av restruktureringen av Selskapet, herunder fisjonen, vil Selskapet inngå en tilleggsavtale til RG Låneavtalen, hvoretter det gjøres enkelte endringer i de eksisterende vilkårene for utøvelsen av de frittstående tegningsrettene utstedt til RG. På denne bakgrunn foreslår styret at generalforsamlingen fatter følgende vedtak, med virkning fra fisjonens ikrafttredelse: The General Meeting resolved on 30 October 2015 to issue a convertible bond and subscription rights to RASMUSSENGRUPPEN AS, org. no , («RG») on the basis of a loan agreement entered into on the same date between the Company as borrower and RG as lender (the RG Loan Agreement ). As a consequence of the restructuring of the Company, including the de-merger, the Company will enter into an addendum to the RG Loan Agreement, whereby certain amendments are made to the existing conditions for exercising the subscription rights issued to RG. On this basis the Board of Directors proposes that the General Meeting pass the following resolution, with effect from the effective date of the de-merger: 1) Følgende antall frittstående tegnings- 1) The following number of subscription # /1 4 (10)

5 retter utstedt av Selskapet til RASMUSSENGRUPPEN AS, org.nr , («RG») under en SEK secured perpetual callable subordinated convertible låneavtale datert 30. oktober 2015, som endret («RG Låneavtalen») skal bli effektive: ) RGs rett til å konvertere hele eller deler av lånet under RG Låneavtalen til aksjer i Selskapet, skal bortfalle i sin helhet. 3) (dvs. 19,19 %) av RGs tegningsretter skal bare kunne utøves dersom Selskapet ikke tilbakebetaler Interest Amount (som definert i RG Låneavtalen) innen 30 virkedager etter gjennomføring av en børsnotering av Selskapets aksjer. For denne delen av tegningsrettene utstedt til RG, skal siste dato for utøvelsesperioden for tegningsrettene være tidligst 60 dager etter gjennomføring av slik børsnotering. 4) Utøvelsesprisen for de frittstående tegningsrettene utstedt til RG skal justeres til SEK 71,86. 5) Senest datoen som faller fem uker etter datoen for registreringen i Foretaksregisteret av fisjonen av Selskapet, kan RG ved skriftlig notis til Selskapet utøve en rett til å bytte alle eller deler av sine frittstående tegningsretter i Selskapet mot ytterligere tegningsretter i det overtakende selskapet i fisjonen, ICE Group International AS («NewCo Tegningsretter»). Én tegningsrett i Selskapet skal byttes mot ni NewCo Tegningsretter og utøvelsesprisen avtalt for NewCo Tegningsretter (SEK 7.98) skal gjelde. 6) Umiddelbart etter ikrafttredelsen av fisjonen av Selskapet, skal Selskapet være forpliktet til å betale til ICE Group International AS, SEK multiplisert med det antall tegningsretter i Selskapet som RG beslutter at skal byttes i ytterligere NewCo Tegningsretter i samsvar med punkt 5 ovenfor. Dette er vederlag for de tegningsretter i Selskapet som bortfaller. rights issued by the Company to RASMUSSENGRUPPEN AS, org. no , ( RG ) under a SEK 340,000,000 secured perpetual callable subordinated convertible loan agreement dated 30 October 2015, as amended (the RG Loan Agreement ) shall become effective: 5,269,994. 2) RG s right to convert the loan (in full or in parts) under the RG Loan Agreement into shares in the Company shall lapse. 3) 1,011,312 (ie %) of RG s subscription rights shall only become exercisable if the Company fails to repay the Interest Amount (as defined in the RG Loan Agreement) within 30 business days after completion of an initial public offering of the Company s shares. To this part of the subscription rights issued to RG, the end date of the exercise period for the subscription rights shall not be earlier than 60 days post closing of such initial public offering. 4) The exercise price for the subscription rights issued to RG shall be adjusted to SEK ) No later than the date falling five weeks after the date of the registration with Foretaksregisteret of the de-merger of the Company, RG may by written notice to the Company exercise a right to exchange all or parts of its subscription rights in the Company into additional subscription rights in the transferee company in the de-merger, ICE Group International AS ( NewCo Subscription Rights ). One subscription right in the Company shall be exchanged into nine NewCo Subscription Rights and the exercise price agreed for for NewCo Subscription Rights (SEK 7.98) shall apply. 6) Immediately following the effective date of the de-merger of the Company, the Company shall be obliged to pay to ICE Group International AS SEK multiplied by the number of subscription rights in the Company which RG determines shall be exchanged into additional NewCo Subscription Rights in accordance with item 5 above. This is a consideration for the subscription rights in the Company being terminated. # /1 5 (10)

6 7) RG skal betale kontant til Selskapet SEK 2 millioner som vederlag for opsjonen beskrevet i punkt 5 ovenfor. 8) Denne beslutningen er betinget av og skal først gjennomføres etter at fisjonen av Selskapet har trådt i kraft. 9 Fullmakt til å gjennomføre kapitalforhøyelse ved tingsinnskudd 7) RG shall pay in cash to the Company SEK 2 million as consideration for the option described in item 5 above. 8) This resolution is subject to and shall be completed afer of the effective date of the de-merger of the Company. 9 Authorisation to carry out a capital increase by contribution in kind Styret foreslår at generalforsamlingen tildeler styret fullmakt til å gjennomføre en kapitalforhøyelse ved tingsinnskudd. Formålet er å åpne for at de som eier aksjer i AINMT Holdings AB, bytter disse med aksjer i Selskapet, og at Selskapet utsteder aksjer som oppgjør for gjeld til ICE Group International AS. På denne bakgrunn foreslår styret at generalforsamlingen fatter følgende vedtak: 1) Styret gis fullmakt til å forhøye aksjekapitalen med inntil NOK ) Fullmakten gjelder frem til den ordinære generalforsamlingen i 2019, men uansett ikke lenger enn til 30. juni ) Aksjeeiernes fortrinnsrett etter aksjeloven og allmennaksjeloven 10-4 kan fravikes. 4) Fullmakten omfatter kapitalforhøyelse mot innskudd i andre eiendeler enn penger, men ikke beslutning om fusjon etter aksjeloven og allmennaksjeloven ) Fullmakten kan bare benyttes til å erverve aksjer i AINMT Holdings AB eller til å utstede aksjer som oppgjør for gjeld The Board of Directors proposes that the General Meeting authorises the Board of Directors to carry out a capital increase by contribution in kind. The purpose is to allow the persons holding shares in AINMT Holdings AB to exchange these with shares in the Company, and to allow the Company to issue shares as settlement for debt to ICE Group International AS. On this basis the Board of Directors proposes that the General Meeting pass the following resolution: 1) The board of directors shall be authorised to increase the share capital with up to NOK 7,000,000. 2) The authorisation shall be valid until the ordinary General Meeting in 2019, however in any event no later than until 30 June ) The shareholders' pre-emption rights pursuant to the Private Limited Companies Act and the Public Limited Companies Act section may be deviated from. 4) The authorisation includes an increase of the share capital with contribution in kind, but not any decision on merger pursuant to the Private Limited Companies Act and the Public Limited Companies Act section ) The authorisation may only be utilized to acquire shares in AINMT Holdings AB or to issue shares as settlement of debt to ICE # /1 6 (10)

7 til ICE Group International AS. Group International AS. 10 Fullmakt til kjøp og salg av egne aksjer 10 Authorisation to purchase and sell own shares Styret foreslår at generalforsamlingen tildeler styret fullmakt til å erverve og selge egne aksjer. Med en slik fullmakt kan styret gjennomføre kjøp og salg av egne aksjer fra eller til ansatte som deltar eller har deltatt i Selskapets opsjonsprogram. På denne bakgrunn foreslår styret at generalforsamlingen fatter følgende vedtak: 1) Styret gis fullmakt til å erverve og avhende egne aksjer med samlet pålydende inntil NOK ) Fullmakten gjelder frem til den ordinære generalforsamlingen i 2019, men uansett ikke lenger enn til 30. juni ) Erverv av egne aksjer skje skal mot et vederlag på minimum NOK 0 og maksimum NOK 200 for hver aksje. 4) Erverv og avhendelse av egne aksjer kan bare skje for å oppfylle opsjonsprogrammet for Selskapets ansatte. 11 Kapitalforhøyelse ved tingsinnskudd av aksjer i AINMT Holdings AB (flip-up) The Board of Directors proposes that the General Meeting authorises the Board of Directors to purchase and sell own shares. With such authorisation, the Board of Directors may implement purchases and sales of own shares from and to employees participating, or which has participated, in the Company s option programme. On this basis the Board of Directors proposes that the General Meeting pass the following resolution: 1) The board of directors shall be authorised to purchase and sell own shares with a total nominal value of up to NOK 10,000,000. 2) The authorisation shall be valid until the ordinary General Meeting in 2019, however in any event no later than until 30 June ) The compensation for the purchase of own shares shall be minimum NOK 0 and maximum NOK 200 for each share. 4) The purchase and selling of own shares may only occur to fulfil the option programme for the Company s employees. 11 Capital increase by contribution in kind of shares in AINMT Holdings AB (flip-up) Styret foreslår at generalforsamlingen fatter følgende vedtak: 1) Aksjekapitalen forhøyes med NOK ,20 ved utstedelse av aksjer hver pålydende NOK 0,90. 2) Bare AI Media Holdings (NMT) LLC (Delaware reg.nr ) kan tegne aksjer. The Board of Directors proposes that the General Meeting pass the following resolution: 1) The share capital is increased by NOK 66,768, by issuance of shares each with a nominal value of NOK ) Only AI Media Holdings (NMT) LLC (Delaware reg. no ) may subscribe for shares. # /1 7 (10)

8 3) Aksjene tegnes på særskilt tegningsdokument innen tre måneder fra tidspunktet for generalforsamlingens beslutning (Vedlegg 1). 4) Det skal betales NOK 98, per aksje, slik at samlet aksjeinnskudd blir NOK ,24. 5) Aksjeinnskuddet skal gjøres opp senest to uker etter at aksjene er tegnet, men tidligst rett etter ikrafttredelsen av fisjonen av Selskapet, ved at AI Media Holdings (NMT) LLC overfører til Selskapet aksjer i AINMT Holdings AB (bestående av A- aksjer og B-aksjer), svensk org.nr , dvs. 58,6161 % av selskapets totale aksjekapital. 6) Tegneren garanterer at de eier de aksjene som skal overføres til Selskapet, jf. punktet ovenfor, og at disse aksjene er fri for enhver heftelse, herunder at det ikke knytter seg panteretter, forkjøpsrett eller andre løsningsretter til aksjene, og at ingen rettigheter knyttet til aksjene (herunder utbytte, fortrinnsrett ved kapitalforhøyelse, mv.) er skilt fra aksjene. For øvrig overtas aksjene «som de er», og Selskapet fraskriver seg herved enhver rett til å gjøre gjeldende at det foreligger en mangel ved aksjene etter kjøpsloven 19 og ethvert annet grunnlag. 7) En nærmere beskrivelse av tingsinnskuddet følger i styrets redegjørelse inntatt som Vedlegg 2. Denne redegjørelsen er bekreftet av revisor, se Vedlegg 3. 8) De nye aksjene gir aksjonærrettigheter fra det tidspunktet kapitalforhøyelsen er registrert i Foretaksregisteret, herunder rett til utbytte som vedtas etter registreringen. Fra samme tidspunkt skal 4 i vedtektene lyde: «Aksjekapitalen er NOK ,30 fordelt på aksjer hver pålydende NOK 0,90. Aksjene skal registreres i Verdipapirsentralen.» 3) Subscription of shares shall take place on a distinct subscription form within three months from the date of the resolution by the General Meeting (Appendix 1). 4) NOK shall be paid per share, meaning that the total capital contribution for the shares will be NOK 7,327,012, ) The share contribution shall be settled no later than than two weeks after the shares are subscribed for, but in any event not before the effective date of the de-merger of the Company, by AI Media Holdings (NMT) LLC transferring to the Company 74,186,918 shares in AINMT Holdings AB (comprising of 28,394,348 class A shares and 45,792,570 class B shares), Swedish org. no , i.e % of the company s total share capital. 6) The subscriber guarantees that it owns the shares which shall be transferred to the Company, and that these shares are free of any encumbrances, including no pre-emption right or other right of redemption to the shares, and that no rights to the shares (hereunder right to dividend, preferential rights for capital increases etc.) are separated from the shares. Further, the shares are transferred on an as is basis, and the Company waives any right to claim that the shares have any defects pursuant to the Norwegian Sales of Goods Act section 19 or any other legal basis. 7) A more detailed description of the contribution in kind follows in the board s statement included in Appendix 2. This statement has been confirmed by an auditor, see Appendix 3. 8) The new shares shall carry shareholder rights in the company from the date on which the capital increase is registered in the Register of Business Enterprises, including the right to receive dividends resolved after the registration. From the same date, article 4 of the Articles of Association shall read: «The share capital shall be NOK 111,168, divided on 123,520,957 shares each with a nominal value of NOK The shares shall be # /1 8 (10)

9 registered with Verdipapirsentralen.» 9) De anslåtte utgiftene til kapitalforhøyelsen er på NOK ) Gjennomføring av denne beslutningen er betinget av og skal ikke skje før fisjonen av Selskapet har trådt i kraft. 9) The estimated costs related to the capital increase are NOK 50, ) Implementation of this resolution is conditional upon and shall not enter into effect until after the de-merger of the Company has entered into effect. Formålet med forslaget er å samle eierskapet i AINMT Holdings AB i Selskapet. Forslaget utgjør en del av samme restrukturering som fisjonen omtalt ovenfor. *** The purpose of the proposal is to gather the ownership in AINMT Holdings AB in the Company. The proposal forms part of the same restructuring as the de-merger noted above. *** Styrets forslag til beslutning om fisjon og fisjonsplanen og øvrige saksdokumenter, jf. aksjeloven 13-6 til 13-11, er gjort tilgjengelig på Det samme gjelder redegjørelse fra styret om kapitalforhøyelsen i sak 11 utarbeidet etter reglene i aksjeloven 2-6 (1) og (2), jf (3). For å få tilsendt dokumentene vederlagsfritt kan aksjeeierne henvende seg til Anders Koch (e-post anders.koch@icegroup.com). The Board of Directors proposed resolutions regarding the de-merger, as well as the demerger plan and other case documents, cf. Section 13-6 to Section of the Private Limited Companies Act, have been made available on The same applies to the statement from the board on the capital increase in item 11, prepared in accordance with the Private Limited Companies Act Section 2-6 (1) and (2), cf. Section 10-2 (3). The shareholders may contact Anders Koch ( anders.koch@icegroup.com) to have the documents sent to them free of charge. Avskrift av Selskapets seneste årsregnskap, årsberetning og revisjonsberetning er lagt ut på Selskapets kontor samtidig med denne innkallingen, jf. aksjeloven 10-3 (5). Etter styrets oppfatning har det siden siste balansedag ikke inntruffet forhold av vesentlig betydning for Selskapet. A copy of the Company s latest annual accounts, the board s report and auditor s report has been made available at the Company s office at the same time with this notice convening the General Meeting in accordance with Section 10-3 (5) of the Private Limited Companies Act. The Board of Directors is of the view that no circumstances of significance to the company have occurred since the last balance sheet date. * * * # /1 9 (10)

10 Aksjeeiere som ønsker å delta på generalforsamlingen, enten personlig eller ved fullmektig, bes om å gi beskjed om dette til Selskapet innen 14. juni 2018 kl Shareholders who wish to participate at the general meeting either in person or by proxy, are asked to notify the Company of their attendance no later than 14 June 2018 at 12:00 (noon) (CET). Melding om deltakelse kan gis ved å fylle ut og returnere vedlagte påmeldingsblankett scannet per epost til og alternativt per post til ICE Group AS, c/o DNB Bank ASA, Verdipapirservice, postboks 1600 Sentrum, 0021 Oslo, Norge, eller elektronisk via VPS Investortjenester. Notification of attendance can be given by completing and returning the enclosed attendance form scanned by to and icegroup.com, or alternatively by ordinary mail to ICE Group AS, c/o DNB Bank ASA, Registrar s Department, P.O. Box 1600 Sentrum, 0021 Oslo, Norway, or electronically through VPS Investor Services. * * * 1. juni June 2018 ICE Group AS The Board of Directors # /1 10 (10)

11 DE-MERGER PLAN FOR A DE-MERGER WITH ICE GROUP AS (AS THE TRANSFEROR COMPANY) AND ICE GROUP INTERNATIONAL AS (AS THE TRANSFEREE COMPANY) # /1 1 (9)

12 1. PARTIES TO THE DE-MERGER 1.1 The transferor company: ICE Group AS («ICE Group») Enterprise registration no.: Municipality of registered office: Oslo Address: Nydalsveien 18B, 0484 Oslo 1.2 The transferee company: ICE Group International AS («ICE International») Enterprise registration no.: Municipality of registered office: Oslo Address: Nydalsveien 18B, 0484 Oslo 2. BRIEF DESCRIPTION OF THE DE-MERGER AND ITS RATIONALE The de-merger entails the transfer by ICE Group of certain specified assets to ICE International, which is incorporated prior to the de-merger. As consideration for this, the shareholders of ICE Group shall receive 1 share in ICE International for each share they hold in ICE Group. The rationale behind the proposed transfer of ICE Group s shares in ICE Group International Holdings BV (as specified in section 3.1 below) to ICE International by way of de-merger is to separate and maintain the Scandinavian and international subsidiaries of ICE Group in different corporate structures. 3. COMPLETION OF THE DE-MERGER 3.1 De-merger contribution ICE International, which was incorporated on 5 March 2018, is the transferee company in the de-merger. On the effective date of the de-merger, ICE International shall receive the following assets from ICE Group: (a) 4,288 shares in ICE Group International Holdings BV, Dutch enterprise registration no , i.e % of the total issued share capital of the company. In addition, ICE International shall on the effective date of the de-merger issue two guarantees: one guarantee in favour of RASMUSSENGRUPPEN AS, enterprise registration no , ( RG ) securing 15% of the repayment obligations of ICE Group from time to time under a certain loan agreement entered into on 30 October 2015 between ICE Group as borrower and RG as lender; and one guarantee in favour of Goldentree Asset Management LLP ( Goldentree ) securing 30% of the repayment obligations from time to time under a certain loan agreement entered into on 30 September 2015 between AINMT Holdings AB as borrower and Goldentree as agent for a consortium of financial investors. # /1 2 (9)

13 3.2 De-merger consideration. Changes to the share capital and amendments to the Articles of Association of the transferee company, ICE International Upon the effective date of the de-merger, the share capital of ICE International shall be increased by NOK 44,400,635.10, divided on 49,334,039 shares each with a nominal value of NOK As de-merger consideration, the shareholders of ICE Group shall receive 1 share in ICE International for each share they hold in ICE Group. The shares in ICE International are deemed to be subscribed for by way of the General Meeting of ICE Group approving the de-merger plan, cf. Section 14-6 (1), cf. Section 13-3 (3), of the Private Limited Companies Act. The share contribution for these shares is settled by way of ICE International receiving the abovementioned assets upon registration of the completion of the de-merger, cf. Section 3.6. Draft minutes of a General Meeting with proposed resolutions regarding share capital increase and amendments to the Articles of Association of ICE International are set out in Appendix 2.1 and shall be deemed to form part of the de-merger plan. 3.3 Changes to the share capital and amendments to the Articles of Association of the transferor company, ICE Group ICE Group is the transferor company in the de-merger. The business not transferred to ICE International in the de-merger will remain and be continued in ICE Group after completion of the de-merger. Upon the effective date of the de-merger, the share capital of ICE Group shall be reduced by NOK 4,933,403.90, whilst the share premium shall be reduced by NOK 165,826,000. The share capital shall be reduced by the nominal value of each share being reduced from NOK 1 to NOK The Articles of Association of the company shall be amended accordingly, cf. Appendix 1.1 to the de-merger plan. 3.4 Completion for tax-, accounting- and value added tax purposes The de-merger shall be effected on a full going-concern basis for tax purposes pursuant to Chapter 11 of the Tax Act and in accordance with Chapter 14 of the Private Limited Companies Act. The de-merger entails a reorganisation with unchanged ownership and shall be accounted for based on IFRS. The book values reflect information known at the date of this de-merger plan. 3.5 Allocation of net value and share capital upon the de-merger Section 11-8 (1) of the Tax Act stipulates that nominal and paid-up share capital shall be allocated in the same proportion as the net values (based on fair value) are allocated between the companies. The fair value (the net value) and the share capital of ICE Group shall be allocated as follows upon the de-merger: # /1 3 (9)

14 ICE Group: 90% ICE International: 10% The allocation of the net values is based on the fair value as at the date of signing of the de-merger plan by the Board of Directors. Tax positions in ICE Group prior to the de-merger are allocated in accordance with Section 11-8 of the Tax Act. 3.6 Effective date As from the date of this de-merger plan, transactions in ICE Group that relate to assets to be transferred to ICE International shall for accounting purposes be deemed to have been made for the account of the latter, cf. Section 14-4 (1), cf. Section 13-6 (1), No. 2, of the Private Limited Companies Act. The effective date of the de-merger for company law purposes is the date on which it is registered as having been implemented in the Register of Business Enterprises following the expiry of the six-week creditor notification period, cf. Section 14-8, cf. Section 13-16, of the Private Limited Companies Act. The following effects of the de-merger will be implemented as per the said date: (a) (b) (c) (d) (e) the share capital of ICE Group is reduced; the share capital of ICE International is increased; the assets specified in Section 3.1 are transferred to ICE International; the shares in ICE International are issued to those who are shareholders of ICE Group as at the same date; and the de-merger is effected on a going-concern basis for tax purposes in accordance with the provisions of Chapter 11 of the Tax Act, cf. Section of the Tax Act. As from and including 1 January 2018, any taxable profit or loss shall for tax purposes be allocated between ICE Group and ICE International in the same proportion as the share capital is allocated. 4. CONDITIONS PRECEDENT TO THE EXERCISE OF SHAREHOLDER RIGHTS AND ENTITLEMENTS TO DISTRIBUTIONS Those who are registered in the Register of Shareholders of ICE Group or who report and document that they are shareholders of ICE Group on the date on which the de-merger is registered as implemented in the Register of Business Enterprises, may as from the same date exercise rights as shareholder of ICE International and be entitled to any dividends and other distributions on the shares in ICE International that are resolved subsequent to the registration in the Register of Business Enterprises. Said shareholders shall thereafter be registered in the Register of Shareholders of ICE International without undue delay. # /1 4 (9)

15 5. SPECIAL RIGHTS RG as lender and ICE Group as borrower have entered into a SEK 340,000,000 secured perpetual callable subordinated convertible Loan agreement dated 30 October 2015, as amended (the Loan ) (the RG Loan Agreement ). Pursuant to the RG Loan Agreement, RG may convert the Loan (in full or in parts) into ordinary shares in ICE Group at a price of SEK per share in the period from disbursement of the Loan to and including 30 October 2019 (the "Conversion Period ) in accordance with the provisions of the RG Loan Agreement (the Conversion Rights ). Further, ICE Group shall upon receiving a notice from RG specifying the amount of the Loan to be converted in its sole discretion decide on whether the corresponding part of the accrued and unpaid interest, as well as interest accrued which is not paid in cash to RG on the relevant interest payment date ( PIK Amount ) with interest ( PIK Interest ) shall be paid in full in cash or settled by way of ordinary shares at the conversion price of SEK per share. Under the RG Loan Agreement, RG has also been awarded subscription rights (Nw. frittstående tegningsretter) whereby RG has the right to subscribe for new ordinary shares in ICE Group in the amount of SEK 340,000,000 at SEK per share during the Conversion Period (the "ICE Group Subscription Rights"). The ICE Group Subscription Rights shall become effective (in whole or part, corresponding to the part of the Loan called by ICE Group) if and when ICE Group exercises an option to repay the Loan (in whole or in parts) before the expiry of the Conversion Period and RG does not convert the Loan (in whole or in parts) within 2 weeks after such option having been exercised. The ICE Group Subscription Rights shall become assignable by RG upon becoming effective. In connection with the restructuring of ICE Group, including the de-merger, ICE Group and RG have or will enter into an addendum to the RG Loan Agreement (the RG Addendum ). Pursuant to the RG Addendum, as of the effective date of the de-merger, all of the Conversion Rights shall automatically lapse, the ICE Group Subscription Rights shall become effective and RG shall receive subscription rights in ICE International (the ICE International Subscription Rights ). The number of ICE Group Subscription Rights shall be the outstanding Loan including accrued and unpaid interest, PIK Amounts and PIK Interest at 1 August 2018 (the Outstanding Loan ) divided by SEK The number of the ICE International Subscription Rights shall be equal to the ICE Group Subscription Rights and will constitute 5,269,994. Under the RG Addendum, ICE Group undertakes not to repay any part of the Outstanding Loan on or prior to 1 August Further, ICE Group and ICE International undertake to procure that the shareholders of ICE Group upon completion of the de-merger receive one share in ICE International for each share they hold in ICE Group and that AI Media Holdings (NMT) LLC will own one share in ICE International for each share it holds in AINMT Holdings AB as at the date of the RG Addendum. In addition, the following terms apply: (a) The exercise price for the ICE International Subscription Rights shall be SEK 7.98 (the ICE International Exercise Price ) and the exercise price for the ICE Group Subscription Rights shall be adjusted to SEK 71.86, resulting in a combined exercise price of SEK for one ICE International Subscription Right and one ICE Group Subscription Right. No later than the date falling five weeks after the date of the # /1 5 (9)

16 registration with Foretaksregisteret of the de-merger of ICE Group as part of the Restructuring, RG may by written notice to the Borrower, (i) (ii) exercise a right to prolong the end date for the Conversion Period for the ICE International Subscription Rights until 31 December 2021, provided that the ICE International Exercise Price will be adjusted accordingly keeping the value of the ICE International Subscription Rights unchanged assuming a 40% volatility using the Black-Scholes option pricing formula, and/or exercise a right to exchange all or parts of the ICE Group Subscription Rights into additional ICE International Subscription Rights. For the avoidance of doubt, one ICE Group Subscription Right shall be exchanged into nine ICE International Subscription Rights and the exercise price for ICE International Subscription Rights shall apply. (b) The ICE International Subscription Rights and the ICE Group Subscription Rights shall be exercisable at any time from the effective date of the de-merger and for the entire Conversion Period, provided that: (i) (ii) 19.19% of the ICE International Subscription Rights, and 19.19% of the ICE Group Subscription Rights, shall only become exercisable if ICE Group, within 30 business days after completion of an initial public offering of ICE Group s shares (the IPO ), fails to repay in cash all accrued and unpaid interest, PIK Amounts and PIK Interest outstanding under the RG Loan Agreement at the time of completion of the IPO. To this part of the ICE International Subscription Rights and ICE Group Subscription Rights, the end date of the Conversion Period shall not be earlier than 60 days post closing of the IPO. (c) The other terms of the ICE Group Subscription Rights shall apply to the ICE International Subscription Rights mutatis mutandis. Upon the effective date of the de-merger, and provided that RG has not converted all the ICE Group Subscription Rights into ICE International Subscription Rights, the parties will seek to agree on an exchange of the remaining ICE Group Subscription Rights for additional ICE International Subscription Rights on identical economic terms as the existing ICE International Subscription Rights, keeping the total value of the subscription rights unchanged after such exchange. Immediately following the effectivate date of the de-merger: (d) ICE Group shall be obligated to pay to ICE International SEK multiplied by the number of ICE Group Subscription Rights which RG determines shall be exchanged into additional ICE International Subscription Rights pursuant to 5 (a) (ii) above, and the payment of this amount by ICE Group to ICE International shall be deemed to constitute i) settlement for the ICE Group Subscription Rights being terminated, and ii) consideration payable on behalf of RG for the ICE International Subscription Rights being issued pursuant to 5 (a) (ii); and # /1 6 (9)

17 (e) RG shall pay in cash to ICE Group SEK 2 million as consideration for the option described in 5 (a) (ii) above where RG may determine to what extent the majority of its subscription rights shall remain in ICE Group or be transferred to ICE International. Except as set out above, no shareholders have special rights in ICE Group. No special rights or benefits shall accrue to any Director or General Manager of ICE Group or ICE International upon the de-merger. 6. NO DISTRIBUTIONS ICE International shall not be entitled to distribute any dividends or make any other distributions on the shares from signing of the de-merger plan until the effective date of the de-merger without the consent of all shareholders of ICE Group. 7. COSTS The costs associated with the de-merger shall be covered by the companies in the same proportion as they receive values. 8. REPORT ON THE DE-MERGER AND EXPLANATORY STATEMENT ON THE DE-MERGER PLAN 8.1 Report on the de-merger The Boards of Directors of ICE Group have prepared a report on the de-merger and its implications for the company in accordance with Section 14-4 (3), cf. Section 13-9, of the Private Limited Companies Act. The report is set out in Appendix 1.2. The sole shareholder of ICE International has consented to that no report on the de-merger is prepared in accordance with the requirements under Section 13-9 (1), cf. Sections 14-4 (3) and 13-9 (2), of the Private Limited Companies Act. Since neither ICE Group, nor ICE International, has any employees, the Boards of Directors have not prepared any report on the potential implications of the de-merger for employees of the companies, cf. Section 13-9 (2), second sentence. 8.2 Explanatory statement on the de-merger plan The Board of Directors of ICE Group has prepared an explanatory statement on the demerger plan in compliance with Section 14-4 (3), cf. Section (1) and (2) and Section 2-6 (2), of the Private Limited Companies Act. The explanatory statement is set out in Appendix 1.4. The auditors confirmation of the explanatory statement is enclosed as Appendix 1.5. The sole shareholder of ICE International has consented to that no explanatory statement on the de-merger plan fulfilling the requirements under Sections (1) and (2) of the Private Limited Companies Act is prepared, cf. Sections 14-4 (3) and (4) of the Private Limited Companies Act. The Board of Directors of ICE International has therefore only prepared an explanatory statement in accordance with Section (3), cf. Sections 10-2 (3) and 2-6 (1) and (2), of the Private Limited Companies Act. The explanatory statement is set out in Appendix 2.2. The auditors confirmation of the explanatory statement is enclosed as Appendix 2.3. # /1 7 (9)

18 9. FINANCIAL STATEMENTS AND ARTICLES OF ASSOCIATION The most recent annual financial statement and annual report, including auditors report, of ICE Group are set out in Appendix 1.3. The current Articles of Association of ICE International are set out in Appendix 2.4. ICE International was incorporated on 5 March 2018 and has not yet prepared any annual financial statement or annual report. 10. EMPLOYEE MATTERS Neither ICE Group nor ICE International has any employees. 11. UNKNOWN/INADVERTENTLY OMITTED ASSETS, RIGHTS, OBLIGATIONS AND LIABILITIES If it turns out that ICE Group upon signing of the de-merger plan had any assets, rights, obligations or liabilities which have not been included or taken into consideration in preparing the plan, and which are not related to the assets allocated upon the de-merger, the value of the assets/rights or liabilities/obligations shall be allocated in the same proportion as the share capital of ICE Group is allocated upon the de-merger. This also includes any claims made after the signing of the plan on the basis of earlier matters, including, inter alia, any claims in relation to damages or taxes. 12. AMENDMENTS The Boards of Directors of ICE Group and ICE International are authorised to jointly make minor amendments to the de-merger plan without submitting these to the General Meeting, including any amendment to the RG Addendum which the Board of Directors find appropriate and necessary. *** (signature page to follow) # /1 8 (9)

19 Oslo, on 1 June 2018 The Board of Directors of ICE Group AS By: sign. By: sign. Name: Johan Bernt Michelsen Name: Hermann Siegfried Jörg Mohaupt By: sign. Name: Trygve Lauvdal The Board of Directors of ICE Group International AS By: sign. Name: Henning Karlsrud (Chairman) *** # /1 9 (9)

20 APPENDICES TO DE-MERGER PLAN 1. ICE Group as the transferor company 1.1 Articles of Association of ICE Group subsequent to the de-merger 1.2 Report on the de-merger from the Board of Directors of ICE Group 1.3 The most recent annual financial statement and annual report, including auditors report, of ICE Group 1.4 Explanatory statement on the de-merger plan from the Board of Directors of ICE Group 1.5 Confirmation from the auditors of the explanatory statement of the Board of Directors 2. ICE International as the transferee company 2.1 Draft minutes of a General Meeting with proposed resolutions on share capital increase and amendments to the Articles of Association of ICE International 2.2 Explanatory statement on the de-merger plan from the Board of Directors of ICE International 2.3 Confirmation from the auditors of the explanatory statement of the Board of Directors 2.4 Current Articles of Association # /1 1 (1)

21 Appendix 1.1 ARTICLES OF ASSOCIATION OF ICE GROUP AS (In effect upon completion of the de-merger) Selskapets foretaksnavn er ICE Group AS. Selskapet har sitt forretningskontor i Oslo. 1 Foretaksnavn 2 Forretningskommune 3 Selskapets virksomhet Selskapets virksomhet er å eie og eventuelt avhende aksjer i AINMT Holdings AB. 4 Aksjekapitalen Aksjekapitalen er NOK ,10 fordelt på aksjer hver pålydende NOK 0,90. Aksjene skal registreres i Verdipapirsentralen. 5 Samtykke til aksjeerverv. Forkjøpsrett Erverv av aksjer er ikke betinget av samtykke fra selskapet. Aksjeeierne har ikke forkjøpsrett iht. aksjeloven. 6 Innkalling til og informasjon til aksjeeierne i forbindelse med generalforsamling Innkalling til generalforsamling skal sendes på papir til alle aksjeeiere med kjent adresse, men kan sendes elektronisk til aksjeeiere som uttrykkelig har godtatt dette. Når dokumenter som gjelder saker som skal behandles på generalforsamlingen, er gjort tilgjengelige for aksjeeierne på selskapets internettsider, gjelder ikke lovens krav om at dokumentene skal sendes til aksjeeierne. Dette gjelder også dokumenter som etter lov skal inntas i eller vedlegges innkallingen til generalforsamlingen. En aksjeeier kan likevel kreve å få tilsendt dokumenter som gjelder saker som skal behandles på generalforsamlingen. # /1 1 (1)

22 Appendix 1.2 To the General Meeting of ICE Group AS («ICE Group») REPORT FROM THE BOARD OF DIRECTORS ON THE DE-MERGER OF ICE GROUP 1. The de-merger This report on the de-merger of ICE Group is prepared by the Board of Directors of the company pursuant to Section 14-4 (3), cf. Section 13-9, of the Private Limited Companies Act. ICE Group will upon the de-merger transfer certain assets as further specified in the de-merger plan to ICE Group International AS («ICE International»), which is incorporated prior to the de-merger. In consideration for this, the shareholders of ICE Group will receive 1 share in ICE International for each share they hold in ICE Group. The de-merger shall be effected on a full going-concern basis for tax purposes. 2. Rationale behind the de-merger The rationale behind the de-merger proposal of the Board of Directors is to separate and maintain the Scandinavian and international subsidiaries of ICE Group in different corporate structures. 3. Implications for ICE Group The de-merger implies that the net fair value in ICE Group shall be allocated with 90% on ICE Group and 10% on ICE International. The exchange ratio is based on the fair value of ICE International and the assets of ICE Group allocated in the de-merger. ICE Group is the transferor company in the de-merger. The business not transferred to ICE International in the de-merger will remain and be continued in ICE Group after completion of the de-merger. Upon the effective date of the de-merger, the share capital of ICE Group shall be reduced by NOK 4,933,403.90, whilst the share premium shall be reduced by NOK 165,826,000. The share capital shall be reduced by the nominal value of each share being reduced from NOK 1 to NOK The Articles of Association of the company shall be amended accordingly, cf. Appendix 1.1 to the demerger plan. 4. Implications for the employees Neither ICE Group nor ICE International has any employees. *** (signature page to follow) # /1 1 (2)

23 Oslo, on 1 June 2018 The Board of Directors of ICE Group AS By: sign. By: sign. Name: Johan Bernt Michelsen Name: Hermann Siegfried Jörg Mohaupt By: sign. Name: Trygve Lauvdal # /1 2 (2)

24 Appendix 1.3 THE MOST RECENT ANNUAL FINANCIAL STATEMENT AND ANNUAL REPORT, INCLUDING AUDITORS REPORT, OF ICE GROUP AS # /1 1 (1)

25 Appendix 1.4 To the General Meeting of ICE Group AS («ICE Group») EXPLANATORY STATEMENT FROM THE BOARD OF DIRECTORS ON THE DE-MERGER PLAN FOR THE DE-MERGER OF ICE GROUP 1. Brief overview of the de-merger This explanatory statement on the de-merger plan dated 1 June is prepared by the Board of Directors of ICE Group pursuant to Section 14-4 (3), cf. Section (1) and (2) and Section 2-6 (2), of the Private Limited Companies Act. ICE Group will upon the de-merger transfer certain assets as further specified in the de-merger plan to ICE Group International AS («ICE International»), which is incorporated prior to the de-merger. In consideration for this, the shareholders of ICE Group will receive 1 share in ICE International for each share they hold in ICE Group. 2. Principles for determination of the consideration to the shareholders, cf. Section (2) of the Private Limited Companies Act The determination of the consideration to the shareholders, including the exchange ratio between the shares in the transferor company and the transferee company, is based on the fair value as at the signing of the de-merger plan of ICE International and the assets of ICE Group allocated in the de-merger. The de-merger entails a reorganisation with unchanged ownership and shall be accounted for based on IFRS. The book values reflect information known at the date of this statement. The shares of ICE Group International Holdings BV are valued based on the equity method in ICE Group AS, since there are no indications of impairment of such shares upon signing of the plan. The Board of Directors has obtained a valuation dated 30 May 2018 which has served as basis for the assessment. The method adopted in the valuation is deemed to be appropriate. The Board of Directors is of the view that the consideration to the shareholders, including the exchange ratio between the shares in the transferor company and the transferee company, is reasonable and well founded. No particular difficulties have been encountered in determining the consideration. *** (signature page to follow) # /1 1 (2)

26 Oslo, on 1 June 2018 The Board of Directors of ICE Group AS By: sign. By: sign. Name: Johan Bernt Michelsen Name: Hermann Siegfried Jörg Mohaupt By: sign. Name: Trygve Lauvdal # /1 2 (2)

27 Appendix 1.5 CONFIRMATION FROM THE AUDITORS OF THE EXPLANATORY STATEMENT OF THE BOARD OF DIRECTORS OF ICE GROUP AS INCLUDED IN APPENDIX 1.4 # /1 1 (1)

28 Appendix 2.1 (Unofficial translation. The official language of these minutes is Norwegian. In the event of any discrepancies between the Norwegian and English text, the Norwegian text shall precede.) PROTOKOLL FRA EKSTRAORDINÆR GENERALFORSAMLING I ICE GROUP INTERNATIONAL AS (org.nr ) MINUTES FROM EXTRAORDINARY GENERAL MEETING IN ICE GROUP INTERNATIONAL AS (org. no ) Den [date] 2018 ble det avholdt ekstraordinær generalforsamling i ICE Group International AS («Selskapet») i Selskapets lokaler. [Name of chair of the meeting] åpnet generalforsamlingen og registrerte at Selskapets eneste aksjeeier, AI Media Holdings (NMT) LLC, var representert ved [name] [som fremviste skriftlig og datert fullmakt]. Samtlige aksjeeiere var således representert. Til behandling lå følgende saker: 1 Valg av møteleder og person til å undertegne protokollen sammen med møtelederen [møteleder] ble valgt til møteleder. [medundertegner] ble valgt til å undertegne protokollen sammen med møtelederen. 2 Godkjennelse av innkallingen og dagsordenen Innkallingen og dagsordenen ble godkjent. Endelig bekreftet eneaksjeeieren uttrykkelig at den har samtykket til at styret ikke utarbeider en redegjørelse for fisjonsplanen i samsvar med aksjeloven (1) og (2), On [date] 2018, an Extraordinary General Meeting of ICE Group International AS (the Company») was held at the premises of the Company. [Name of chair of the meeting] opened the General Meeting and noted that the sole shareholder of the company, AI Media Holdings (NMT) LLC, was represented by [name] [who presented a written and dated proxy]. Thus, all shareholders were represented. The following matters were on the agenda: 1 Appointment of chair of the meeting and person to sign the minutes together with the chair [The chair of the meeting] was appointed to chair the meeting. [The countersignatory] was appointed to sign the minutes together with the chair of the meeting. 2 Approval of the notice of meeting and agenda The notice of meeting and agenda were approved. Further, the sole shareholder expressly confirmed that it have consented to the Board of Directors not preparing an explanatory statement on the de-merger plan in # /1 1 (7)

29 eller en rapport om fisjonen som oppfyller kravene i 13-9 (1). accordance with Section (1) and (2) of the Private Limited Companies Act, nor a report on the de-merger fulfilling the requirements under Section 13-9 (1). 3 Kapitalnedsettelse 3 Capital reduction I samsvar med styrets forslag fattet generalforsamlingen følgende vedtak om kapitalnedsettelse: Aksjekapitalen nedsettes med NOK fra NOK til NOK 0. Nedsettingsbeløpet skal utdeles til selskapets eneste aksjeeier. Kapitalnedsettelsen gjennomføres ved at samtlige aksjer i selskapet innløses. Gjennomføringen av denne beslutning er betinget av at det gjennomføres en kapitalforhøyelse som angitt i neste punkt nedenfor. In accordance with the proposal by the Board of Directors, the General Meeting adopted the following resolution regarding capital reduction: The share capital shall be reduced by NOK 30,000 from NOK 30,000 to NOK 0. The amount thus reduced shall be distributed to the sole shareholder of the company. The share capital reduction shall be implemented by the redemption of all shares of the company. The completion of this resolution shall be conditional upon the completion of a share capital increase as indicated in the next section below. 4 Kapitalforhøyelse ved tingsinnskudd av aksjer i ICE Group International Holdings BV I samsvar med styrets begrunnede forslag fattet generalforsamlingen følgende vedtak om kapitalforhøyelse: 1) Aksjekapitalen forhøyes med NOK ,20 ved utstedelse av aksjer hver pålydende NOK 0,90. 2) Bare AI Media Holdings (NMT) LLC (Delaware reg.nr ) kan tegne aksjer. 3) Aksjene tegnes på særskilt tegningsdokument innen innen tre måneder fra tidspunktet for generalforsamlingens beslutning (Vedlegg 1). 4) Det skal betales NOK 6, per aksje, slik at samlet aksjeinnskudd blir NOK ,57. 4 Capital increase by contribution in kind of shares in ICE Group International Holdings BV In accordance with the substantiated proposal by the Board of Directors, the General Meeting adopted the following resolution regarding capital increase: 1) The share capital is increased by NOK 66,768, by issuance of 74,186,918 shares each with a nominal value of NOK ) Only AI Media Holdings (NMT) LLC (Delaware reg. no ) may subscribe for shares. 3) Subscription of shares shall take place on a distinct subscription form within three months from the date of the resolution by the General Meeting (Appendix 1). 4) NOK shall be payable per share, meaning that the total capital contribtion for the shares will be # /1 2 (7)

30 NOK 496,507, ) Aksjeinnskuddet skal gjøres opp senest to uker etter at aksjene er tegnet ved at AI Media Holdings (NMT) LLC overfører til Selskapet aksjer i ICE Group International Holdings BV, nederlansk org. no , dvs. 58,6161 % av selskapets totale aksjekapital. 5) The share contribution shall be settled no later than two weeks after the shares are subscribed for by AI Media Holdings (NMT) LLC transferring to the Company 6,448 shares in ICE Group International Holdings BV, Dutch company no , i.e % of the company s total share capital. 6) Tegneren garanterer at den eier de aksjene som skal overføres til Selskapet, jf. punktet ovenfor, og at disse aksjene er fri for enhver heftelse, herunder at det ikke knytter seg panteretter, forkjøpsrett eller andre løsningsretter til aksjene, og at ingen rettigheter knyttet til aksjene (herunder utbytte, fortrinnsrett ved kapitalforhøyelse, mv.) er skilt fra aksjene. For øvrig overtas aksjene «som de er», og Selskapet fraskriver seg herved enhver rett til å gjøre gjeldende at det foreligger en mangel ved aksjene etter kjøpsloven 19 og ethvert annet grunnlag. 7) En nærmere beskrivelse av tingsinnskuddet følger av styrets redegjørelse inntatt som Vedlegg 2 til denne prtokollen. Denne redegjørelsen er bekreftet av revisor, se Vedlegg 3. 8) De nye aksjene gir aksjonærrettigheter fra det tidspunktet kapitalforhøyelsen er registrert i Foretaksregisteret, herunder rett til utbytte som vedtas etter registreringen. Fra samme tidspunkt skal 4 i vedtektene lyde: «Aksjekapitalen er NOK ,20 fordelt på aksjer hver pålydende NOK 0,90.» 9) De anslåtte utgiftene til kapitalforhøyelsen er på NOK ) The subscriber guarantees that it owns the shares which shall be transferred to the Company, cf. the section above, and that these shares are free of any encumbrances, including no pre-emption right or other right of redemption to the shares, and that no rights to the shares (hereunder right to dividend, preferential rights for capital increases etc.) are separated from the shares. Further, the shares are transferred on an as is basis, and the Company waives any right to claim that the shares have any defects pursuant to the Norwegian Sales of Goods Act section 19 or any other legal basis. 7) A more detailed description of the contribution in kind follows in the board s statement included in Appendix 2 to these minutes. This statement has been confirmed by an auditor, see Appendix 3. 8) The new shares shall carry shareholder rights in the company from the date on which the capital increase is registered in the Register of Business Enterprises, including the right to receive dividends resolved after the registration. From the same date, article 4 of the Articles of Association shall read: «The share capital is NOK 66,768, divided on 74,186,918 shares each with a nominal value of NOK 0.90.» 9) The estimated costs of the capital increase are NOK 50,000. # /1 3 (7)

31 5 Fullmakt til å gjennomføre kapitalforhøyelse ved tingsinnskudd 5 Authorisation to carry out a capital increase by contribution in kind I samsvar med styrets begrunnede forslag fattet generalforsamlingen følgende vedtak: 1) Styret gis fullmakt til å forhøye aksjekapitalen med inntil NOK ) Fullmakten gjelder frem til den ordinære generalforsamlingen i 2019, men uansett ikke lenger enn til 30. juni ) Aksjeeiernes fortrinnsrett etter aksjeloven og allmennaksjeloven 10-4 kan fravikes. 4) Fullmakten omfatter kapitalforhøyelse mot innskudd i andre eiendeler enn penger, men ikke beslutning om fusjon etter aksjeloven og allmennaksjeloven ) Fullmakten kan bare benyttes til å erverve aksjer i ICE Group International Holdings BV. 6 Fisjon av ICE Group AS der Selskapet er overtakende selskap Generalforsamlingen vurderte hvorvidt det hadde skjedd verdiendringer av betydning for bytteforholdet for fisjonen etter styrets signering av fisjonsplanen, men fant at det ikke var tilfellet. I samsvar med styrets forslag fattet generalforsamlingen følgende vedtak om fisjon: Fisjonsplan datert 1. juni 2018 for fisjon av ICE Group AS, org.nr («ICE Group») godkjennes. Ved fisjonens ikrafttredelse overfører ICE In accordance with the substantiated proposal by the Board of Directors, the General Meeting adopted the following resolution: 1) The board of directors shall be authorised to increase the share capital with up to NOK 5,000,000. 2) The authorisation shall be valid until the ordinary General Meeting in 2019, however in any event no later than until 30 June ) The shareholders' pre-emption rights pursuant to the Private Limited Companies Act and the Public Limited Companies Act section may be deviated from. 4) The authorisation includes an increase of the share capital with contribution in kind, but not any decision on merger pursuant to the Private Limited Companies Act and the Public Limited Companies Act section ) The authorisation may only be utilized to acquire shares in ICE Group International Holdings BV. 6 De-merger of ICE Group AS with the Company as the transferee company The General Meeting considered whether there had been any changes in value of significance to the exchange ratio of the de-merger after the signing of the de-merger plan by the Board of Directors, but concluded that such was not the case. In accordance with the proposal of the Board of Directors, the General Meeting adopted the following resolution regarding de-merger: The de-merger plan dated 1 June 2018 for the de-merger of ICE Group AS, org. no ( ICE Group ) is approved. Upon the effective date of the de-merger, ICE # /1 4 (7)

32 Group nærmere angitte eiendeler til Selskapet, som er overtakende selskap. Den nærmere fordeling av eiendeler på ICE Group og Selskapet fremgår av redegjørelsen for fisjonsplanen inntatt i vedlegg 2.2 til fisjonsplanen. Fisjonen innebærer at netto virkelig verdi i ICE Group fordeles med 90 % på ICE Group og 10 % på Selskapet. Bytteforholdet er basert på virkelig verdi av Selskapet og de eiendeler i ICE Group som fordeles ved fisjonen. Ved fisjonens ikrafttredelse nedsettes aksjekapitalen i ICE Group med NOK ,90 mens overkursen reduseres med NOK Aksjekapitalen settes ned ved at pålydende per aksje reduseres fra NOK 1 til NOK 0,90. Denne beslutningen skal straks meldes til Foretaksregisteret. Group transfers further specified assets and liabilities to the Company, which is the transferee company. The specific allocation of assets and liabilities between ICE Group and The Company is stipulated in the explanatory statement on the de-merger plan set out in Appendix 2.2 to the de-merger plan. The de-merger implies that the net fair value in ICE Group shall be allocated with 90% on ICE Group and 10% on The Company. The exchange ratio is based on the fair value of The Company and the assets in ICE Group allocated in the de-merger. Upon the effective date of the de-merger, the share capital of ICE Group shall be reduced by NOK 4,933,403.90, whilst the share premium shall be reduced by NOK 165,826,000. The share capital shall be reduced by the nominal value of each share being reduced from NOK 1 to NOK This resolution shall be reported to the Register of Business Enterprises immediately. 7 Kapitalforhøyelse som følge av fisjonen 7 Capital increase as a consequence of the de-merger På bakgrunn av vedtaket om fisjon ovenfor traff generalforsamlingen følgende vedtak: 1) Aksjekapitalen forhøyes med NOK ,10 ved utstedelse av aksjer hver pålydende NOK 0,90. 2) Aksjene utstedes til aksjeeierne i ICE Group AS («ICE Group») og anses tegnet ved at generalforsamlingen i ICE Group godkjenner fisjonsplanen datert 1. juni 2018 for fisjon av ICE Group. 3) Det skal betales NOK 6, per aksje, slik at samlet aksjeinnskudd blir NOK ,77. Against the background of the above demerger resolution, the General Meeting adopted the following resolution: 1) The share capital is increased by NOK 44,400, by issuance of 49,334,039 shares each with a nominal value of NOK ) The shares shall be issued to the shareholders of ICE Group AS («ICE Group») and are deemed to be subscribed for by way of the General Meeting of ICE Group approving the de-merger plan dated 1 June 2018 for the de-merger of ICE Group. 3) NOK shall be payable per share, meaning that the total capital contribution for the shares will be NOK 330,175, # /1 5 (7)

33 4) Aksjeinnskuddet gjøres opp ved at Selskapet idet fisjonen trer i kraft, mottar fra ICE Group aksjer i ICE Group International Holdings BV, nederlandsk org.nr , dvs. 38,9795% av den totale utstedte aksjekapitalen i selskapet. 5) For en nærmere beskrivelse av tingsinnskuddet vises det til redegjørelsen inntatt i vedlegg 2.2 til fisjonsplanen. Denne redegjørelsen er bekreftet av revisor, se vedlegg 2.3 til fisjonsplanen. 6) De nye aksjene gir aksjonærrettigheter i selskapet fra det tidspunkt fisjonen er registrert gjennomført i Foretaksregisteret, herunder rett til utbytte som vedtas deretter. Fra samme tidspunkt skal 4 i vedtektene lyde: «Aksjekapitalen er NOK ,30 fordelt på aksjer hver pålydende NOK 0,90.» 7) De anslåtte utgiftene til kapitalforhøyelsen er på NOK ) Gjennomføring av denne beslutningen er betinget av at fisjonen av ICE Group trer i kraft. 4) The share contribution shall settled by way of the Company receiving, upon the de-merger entering into effect, from ICE Group 4,288 shares in ICE Group International Holdings BV, Dutch enterprise registration no , i.e % of the total issued share capital of the company. 5) Reference is made to the explanatory statement included in Appendix 2.2 to the de-merger plan for a more detailed description of the contribution-in-kind. The said explanatory statement is confirmed by the auditors; see Appendix 2.3 to the de-merger plan. 6) The new shares shall carry shareholder rights in the company from the date on which the de-merger is registered as implemented in the Register of Business Enterprises, including the right to receive dividends resolved thereafter. From the same date, article 4 of the Articles of Association shall read: «The share capital is NOK 111,168, divided on 123,520,957 shares each with a nominal value of NOK 0.90.» 7) The expenses associated with the share capital increase are estimated at NOK 50,000. 8) Completion of this resolution is conditional upon the de-merger of ICE Group entering into effect. * * * * * * Det forelå ikke flere saker til behandling og generalforsamlingen ble hevet. No further matters were on the agenda and the General Meeting was adjourned. * * * * * * (Signaturside følger) (Signature page follows) # /1 6 (7)

34 * * * By: Name: [Name of chair of the meeting] By: Name: [Name of countersignatory] # /1 7 (7)

35 Appendix 2.2 (Unofficial translation. The official language of this document is Norwegian. In the event of any discrepancies between the Norwegian and English text, the Norwegian text shall precede.) Til generalforsamlingen i ICE Group International AS, org.nr («Selskapet») To the General Meeting of ICE Group International AS, org. no (the «Company») REDEGJØRELSE FRA STYRET FOR FISJONSPLAN DATERT 1. juni 2018 DER SELSKAPET ER OVERTAKENDE SELSKAP EXPLANATORY STATEMENT FROM THE BOARD OF DIRECTORS ON THE DE-MERGER PLAN DATED 1 June 2018 WITH THE COMPANY AS THE TRANSFEREE COMPANY 1 Beskrivelse av fisjonsinnskuddet, jf. aksjeloven 2 6 (1) nr. 1 til 3 Eneaksjeeieren i Selskapet har samtykket i at det ikke utarbeides en redegjørelse for fisjonsplanen som oppfyller kravene i aksjeloven (1) og (2), jf (3) og (4). Styret har derfor bare utarbeidet en redegjørelse i samsvar med aksjeloven (3), jf (3) og 2-6 (1) og (2). Som det fremgår av fisjonsplanen, vil Selskapet motta følgende eiendeler fra ICE Group AS («ICE Group») ved gjennomføringen av fisjonen («Fisjonsinnskuddet»): 1 Description of the de-merger contribution, cf. Section 2-6 (1), Nos. 1 to 3, of the Private Limited Companies Act The sole shareholder of the Company has consented to that no explanatory statement on the de-merger plan fulfilling the requirements in Section (1) and (2) of the Private Limited Companies Act is prepared, cf. Sections 14-4 (3) and (4) of the Private Limited Companies Act. The Board of Directors has therefore only prepared an explanatory statement in accordance with Section (3), cf. Section 10-2 (3) and Section 2-6 (1) and (2), of the Private Limited Companies Act. The Company will, as noted in the de-merger plan, receive the following assets from ICE Group AS («ICE Group») upon the completion of the de-merger (the De-merger Contribution ): aksjer i ICE Group International Holdings BV, nederlandsk org.nr , dvs. 38,9795% av den totale utstedte aksjekapitalen i selskapet. 4,288 shares in ICE Group International Holdings BV, Dutch enterprise registration no , i.e % of the total issued share capital of the company. Det vises til siste årsregnskap for ICE Group International Holdings BV for nærmere Reference is made to the most recent annual financial statements of ICE Group International # /1 1 (4)

36 informasjon om Ice Group International Holdings BV. I tillegg skal Selskapet når fisjonen trer i kraft utstede to garantier: en garanti i favør av RASMUSSENGRUPPEN AS, org.nr , («RG») som sikrer 15% av tilbakebetalingsforpliktelsene til ICE Group under en låneavtale inngått 30. oktober 2015 mellom ICE Group som låntaker og Rasmussengruppen AS som långiver; og en garanti i favør av Goldentree Asset Management LLP («Goldentree») som sikrer 30% av tilbakebetalingsforpliktelsene under en låneavtale inngått 30. september 2015 mellom AINMT Holdings AB som låntaker og Goldentree som agent for et konsortium av finansielle investorer. Overføringen av Fisjonsinnskuddet til Selskapet medfører en omorganisering med uendret eierskap og skal regnskapsføres etter IFRS. De bokførte verdier er vurdert ut fra kjent informasjon på dagen for denne redegjørelsen. Aksjene i ICE Group International Holdings BV er vurdert til den bokførte verdien av egenkapitalen i ICE Group AS, siden det ikke foreligger indikasjoner på verdifall for disse aksjene ved signeringen av planen. Virkelig verdi overstiger etter styrets oppfatning balanseført verdi av de eiendeler som Selskapet overtar. Styret er ikke kjent med øvrige forhold som kan være av betydning for bedømmelsen av de eiendeler som overføres ved fisjonen. Holdings BV for further information on ICE Group International Holdings BV. In addition, ICE International shall on the effective date of the de-merger issue two guarantees: one guarantee in favour of RASMUSSENGRUPPEN AS, enterprise registration no , ( RG ) securing 15% of the repayment obligations of ICE Group from time to time under a certain loan agreement entered into on 30 October 2015 between ICE Group as borrower and RG as lender; and one guarantee in favour of Goldentree Asset Management LLP ( Goldentree ) securing 30% of the repayment obligations from time to time under a certain loan agreement entered into on 30 September 2015 between AINMT Holdings AB as borrower and Goldentree as agent for a consortium of financial investors. The transfer of the De-merger Contribution to the Company entails a reorganisation with unchanged ownership and shall be accounted for based on IFRS. The book values reflect information known at the date of this statement. The shares of ICE Group International Holdings BV are valued based on the equity method in ICE Group AS, since there are no indications of impairment of such shares upon signing of the plan. The Board of Directors is of the view that the fair value exceeds the book value of the assets transferred to the Company. The Board of Directors is not aware of any other circumstances which may be of material significance to the assessment of the assets that are transferred upon the de-merger. # /1 2 (4)

37 2 Erklæring om verdien av fisjonsinnskuddet og -vederlaget, jf. aksjeloven 2-6 (1) nr. 4 Styret i Selskapet erklærer herved at de eiendeler som Selskapet skal overta ved fisjonen, har en verdi, per signering av fisjonsplanen, som minst svarer til det avtalte vederlaget, herunder pålydende med tillegg av overkurs på de aksjer som utstedes til aksjeeierne i ICE Group. 2 Declaration on the value of the de-merger contribution and the de-merger consideration, cf. Section 2 6 (1), No. 4, of the Private Limited Companies Act The Board of Directors of the Company hereby declares that the value of the assets to be transferred to the Company upon the demerger is, as at the signing of the de-merger plan, at least equal to the agreed consideration, including the nominal value with the addition of share premium on the shares to be issued to the shareholders of ICE Group. *** *** (Signaturside følger) (Signature page follows) # /1 3 (4)

38 Oslo, on 1 June 2018 The Board of Directors of ICE Group International AS By: sign. Name: Henning Karlsrud (Chairman) # /1 4 (4)

39 Appendix 2.3 CONFIRMATION FROM THE AUDITORS OF THE EXPLANATORY STATEMENT OF THE BOARD OF DIRECTORS OF ICE GROUP INTERNATIONAL AS AS INCLUDED IN APPENDIX 2.3 # /1 1 (1)

40 Appendix 2.4 CURRENT ARTICLES OF ASSOCIATION OF ICE GROUP INTERNATIONAL AS (PRIOR TO THE DE- MERGER) " 1 Foretaksnavn Selskapets foretaksnavn er ICE Group International AS. Selskapets forretningskontor er i Oslo kommune. 2 Forretningskommune 3 Selskapets virksomhet Selskapets virksomhet er å fungere som holdingselskap for internasjonal telekommunikasjonsvirksomhet. 4 Aksjekapitalen Selskapets aksjekapital er NOK , fordelt på 30 aksjer, hver aksje pålydende NOK Samtykke til aksjeerverv. Forkjøpsrett Erverv av aksjer er ikke betinget av samtykke fra selskapet. Aksjeeierne har ikke forkjøpsrett iht. aksjeloven. Selskapets firma tegnes av styrets leder alene.» 6 Signatur # /1 1 (1)

41 Til generalforsamlingen i ICE Group AS, org. no («Selskapet») (Unofficial translation. The official language of these minutes is Norwegian. In the event of any discrepancies between the Norwegian and English text, the Norwegian text shall precede.) To the general meeting of ICE Group AS, org. no (the Company ) REDEGJØRELSE FRA STYRET OM KAPITALFORHØYELSE VED TINGSINNSKUDD, JF. AKSJELOVEN 10-2 (3) OG 2-6 STATEMENT FROM THE BOARD REGARDING SHARE CONTRIBUTION BY CONTRIBUTION IN KIND, CF. SECTIONS 10-2 (3) AND 2-6 OF THE PRIVATE LIMITED LIABILITY COMPANIES ACT 1 Beskrivelse av tingsinnskuddet 1 Description of the contribution in kind Styret har foreslått at aksjekapitalen forhøyes med NOK ,20 ved utstedelse av aksjer hver pålydende NOK 0,90. Dessuten har styret foreslått AI Media Holdings (NMT) LLC tegner samtlige aksjer i kapitalforhøyelsen. Det skal betales NOK 98, per aksje. Aksjeinnskuddet skal gjøres opp senest to uker etter at aksjene er tegnet ved tingsinnskudd som følger («Tingsinnskuddet»): The Board of Directors has proposed that the share capital is increased by NOK 66,768, by issuance of shares each with a nominal value of NOK Moreover, the board has proposed that AI Media Holdings (NMT) LLC subscribes for all shares in the capital increase. NOK shall be payable per share. The share contribution shall be settled no later than two weeks after the shares are subscribed for by contribution in kind as follows (the Contribution in Kind ): AI Media Holdings (NMT) LLC overfører til Selskapet aksjer i AINMT Holdings AB, svensk org.nr , dvs. 58,6161 % av selskapets totale aksjekapital. AI Media Holdings (NMT) LLC transferring to the Company 74,186,918 shares in AINMT Holdings AB, Swedish org. no , i.e % of the company s total share capital. Det vises til siste årsregnskap for AINMT Holdings AB for nærmere informasjon om AINMT Holdings AB. Tegneren garanterer at de eier de aksjene som skal overføres til Selskapet, og at disse aksjene er fri for enhver heftelse, herunder at det ikke knytter seg panteretter, forkjøpsrett eller andre løsningsretter til aksjene, og at ingen rettigheter knyttet til aksjene (herunder utbytte, fortrinnsrett ved kapitalforhøyelse, mv.) er skilt fra aksjene. For øvrig overtas aksjene «som de er», og Selskapet fraskriver seg herved enhver rett til å gjøre gjeldende at Reference is made to the most recent annual financial statements of AINMT Holdings AB for further information on AINMT Holdings AB. The subscriber guarantees that it owns the shares which shall be transferred to the Company, and that these shares are free of any encumbrances, including no pre-emption right or other right of redemption to the shares, and that no rights to the shares (hereunder right to dividend, preferential rights for capital increases etc.) are separated from the shares. Further, the shares are transferred on an as is basis, and the # /1 1 (4)

42 det foreligger en mangel ved aksjene etter kjøpsloven 19 og ethvert annet grunnlag. 2 Nærmere om prinsippene for verdsettelsen Tingsinnskuddet er verdsatt til virkelig verdi på tidspunktet for denne redegjørelsen. Selskapets virksomhet består utelukkende i å eie aksjer i AINMT Holdings AB. Antallet utestående aksjer i Selskapet svarer til det antall aksjer som Selskapet eier i AINMT Holdings AB. Det er derfor lagt til grunn at en aksje i Selskapet har samme verdi som en aksje i AINMT Holdings AB. Styrets anbefaling av tegningskurs er basert på syv ulike kilder samt mer kvalitative metoder som aksjenes omsetning, nylige tegningskurser ved utstedelse av aksjer, effekten på gruppens balanse, tester av fremtidige forringelser, forventet fremtidig tegningskurs ved børsnotering og kontantstrømbaserte verdsettelsesmetoder. Disse metodene er nærmere redegjort for i notatet innhentet av styret av 30. mai På bakgrunn av dette foreslår styret en tegningskurs på NOK 98, per aksje. Company waives any right to claim that the shares have any defects pursuant to the Norwegian Sales of Goods Act section 19 or any other legal basis. 2 Further on the principles for the valuation The Contribution in Kind is valued at actual value at the time of this report. The Company s sole business is to own shares in AINMT Holdings AB. The number of outstanding shares in the Company is equal to the number of shares held by the Company in AINMT Holdings AB. The board has therefore assumed that one share in the Company is worth the same as one share in AINMT Holdings AB. The board of directors recommendation of the share subscription price is based on seven different valuation sources and more qualitative metrics such as the share s trading pattern, recent subscription prices in share issues, the effect on the balance sheet of the group, future impairment tests, the expected subscription price in the future IPO and cash flow based valuation methods. These methods are further described in the memo obtained by the board of directors of 30 May On this background the board of directors recommend a subscription price of NOK per share. 3 Øvrige forhold av betydning 3 Other circumstances of significance Styret er ikke kjent med øvrige forhold som kan være av betydning for bedømmelsen av Tingsinnskuddet. The board is not aware of any other circumstances that may be of significance for the assessment of the Contribution in Kind. 4 Erklæring fra styret 4 Declaration by the board Styret erklærer herved at Tingsinnskuddet har en verdi, per datoen for denne redegjørelsen, som minst svarer til NOK ,24, som er lik pålydende med tillegg av overkurs på de aksjene som selskapet utsteder til tegnerne. The board hereby declares that the Contribution in Kind has a value, as per the date of this statement, which is at least equal to NOK 7,327,012,642.24, which is equal to the nominal value with addition of share premium on the shares that the company issues to the subscribers. # /1 2 (4)

43 *** *** (Signaturside følger) (Signature page follows) # /1 3 (4)

44 *** 1 June 2018 By: sign. By: sign. Name: Johan Bernt Michelsen Name: Hermann Siegfried Jörg Mohaupt By: sign. Name: Trygve Lauvdal # /1 4 (4)

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