Ekornes QM Holding AS (the Company) today announces the acquisition of Huatai
Securities' 9.5% shareholding in Ekornes Holding AS for NOK 741 million.
Following the transaction Ekornes QM Holding AS controls all shares in Ekornes
Holding AS. The transaction will be funded within existing credit facilities. 

The transaction is according to terms outlined in the shareholders agreement
between Qumei Holding and Huatai Securities in connection with the purchase of
Ekornes ASA in August 2018.

"Huatai has been a good partner and we appreciate the constructive collaboration
during these three years of joint ownership. It is with great expectations and
enthusiasm we now continue a sole owner of Ekornes Holding, and we look forward
to continuing the development of Ekornes and its strong brands", says Ruihai
Zhao, chairman of the board in Ekornes QM Holding.

For more information, please contact: 
Roger Lunde, CEO Ekornes AS 
roger.lunde@ekornes.com
Tel: +47 454 11 558

Fredrik Ødegård Nilsen, CFO Ekornes AS
fon@ekornes.com
Tel: +47 480 90 096

About Ekornes QM Holding Group 
Ekornes QM Holding AS was founded 4 January 2018 with the purpose of acquiring
the Ekornes Group. The share purchase was completed in August 2018 and the Group
was delisted from the Oslo Stock Exchange in October 2018. The Ekornes Group is
owned through Ekornes Holding AS. The Norwegian ultimate parent company Ekornes
QM Holding AS, a wholly owned subsidiary of Qumei Home Furnishing Group, owns
all shares in Ekornes Holding AS. 

The Ekornes Group is the only operational part of the Ekornes QM Holding Group.
Ekornes is the largest furniture producer in Norway and owns the brand names
Ekornes®, Stressless®, Svane® and IMG. Stressless® is one of the world's most
well-known furniture brands. Production takes place at the Group's ten
factories, five of which are in Norway, one in the USA, one in Thailand, one in
Lithuania and two in Vietnam. Ekornes sells its products over large parts of the
world, either through its own sales companies or via importers.

This information is subject to the disclosure requirements according to §5-12 in
the Norwegian Securities Trading Act.

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© Oslo Bors ASA, source Oslo Stock Exchange