TTS ASA : Disclosure of shareholdings and primary insider notice

Reference is made to the stock exchange release of 19 June 2016 regarding the voluntary cash offer for all the shares in TTS Group ASA to be put forward by Palfinger Marine GmbH subject to the fulfilment of certain conditions (the 'Transaction').

On 19 June 2016, the following shareholders agreed to pre-accept the offer for all their shares:

Skeie Technology AS (controlled by board member Bjarne Skeie through Skeie Consultants AS):
22 655 763 shares - 26.16 %

Rasmussengruppen AS (controlled by the Rasmussen family):
11 512 506 shares - 13.29 %

Skeie Capital Investment AS (controlled by board member Bjarne Skeie through Skeie Consultants AS):
4 203 361 shares - 4.85 %

Trym Skeie (chairman):
323 140 shares - 0.37 %

Skeie Consultants AS (controlled by board member Bjarne Skeie):
300 000 shares - 0.35 %

Skeie Alpha Invest AS (controlled by chairman Trym Skeie):
250 000 shares - 0.29 %

Zahlahuset II AS (controlled by CEO Toril Eidesvik):
50 000 shares- 0.06 %

Provided that the Transaction is completed, the abovementioned parties will not hold any shares in TTS Group ASA as from the completion.

Furthermore, on 19 June 2016, the following bondholders agreed not to sell or convert their bonds into shares, but to support a utilization of the drag-along right to a conversion set out in clause 10.5 of TTS Group ASA's existing bond loan agreement subject to the Transaction being completed:

Skeie Consultants AS (controlled by board member Bjarne Skeie):
Bonds of par value NOK 6 000 000 (1.1 % of the share capital on a fully diluted basis)

Tamafe Holding AS (controlled by chairman Trym Skeie):
Bonds of par value NOK 4 000 000 (0.8 % of the share capital on a fully diluted basis)

Provided that the Transaction is completed, the abovementioned parties will not hold any bonds in TTS Group ASA as from the completion.