Porsgrunn,10 January 2023 : Reference is made to the stock exchange announcements byRecreate ASA ("Recreate" or the "Company") on11 November, 21 November and22 December 2022 , respectively, regarding the Company's stressed liquidity situation, cost reducing measures and agreements with its financial creditors. Recreate is pleased to announce that credit committee approval from the final financial creditor has today been obtained and that all financial creditors have now confirmed their acceptance to suspend payment of amortization and to extend loan maturities to midOctober 2023 on certain agreed terms and subject to satisfactory documentation, while trade creditors are serviced in ordinary course. The group continues to further implement cost reducing measures as well as developing a long-term sustainable platform for the group to refinance the debts and to strengthen its position to face challenges ahead. The group is also continuing to explore opportunities to sell certain properties.ABG Sundal Collier ASA andAdvokatfirmaet Thommessen AS are acting as the Company's advisors. For further information, please contact: Emil Eriksrød, CEO emil.eriksrod@recreate.no +47 415 22 463 Eirik Engaas, CFO eirik.engaas@recreate.no +47 934 99 340
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