NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN. 

Oslo, 22 January 2021.

Reference is made to the stock exchange announcement published on 18 December
2020 regarding potential stabilization activities in respect of the shares in
Skitude Holding AS (the "Company") in the period from 18 December 2020 to and
including 15 January 2021 (the "Stabilization Period") in connection with a
private placement of shares (the "Private Placement") in the Company and an
admission to trading of the Company's shares on Euronext Growth Oslo as further
set out in the Company's stock exchange announcement published on 8 December
2020.

Pareto Securities AS (the "Stabilization Manager") hereby gives notice that
stabilization activities have been undertaken in relation to the shares in the
Company and that a total of 1,526,761 shares were purchased at an average price
of NOK 6.59 per share during the Stabilization Period.

For each of the dates during which stabilization activities were carried out,
the price range for the stabilization activities was as follows:

Date		Price (min)	Price (max)
18 Dec 2020	6.30		6.601
6 Jan 2021 	6.70		6.70
15 Jan 2021	6.70		6.70

The Stabilization Manager will redeliver the shares purchased through
stabilization activities to Canica AS in accordance with the terms in the share
lending agreement between the parties. Furthermore, the Stabilization Manager
has exercised the option to subscribe for a total of 3,736,386 new shares to be
issued by the Company at the price in the Private Placement (NOK 6.70 per
share), which will be used to satisfy the redelivery obligation under the share
lending agreement with Canica AS which has not been covered by delivery of the
shares purchased during the Stabilisation Period. The Company will, as such,
receive approximately NOK 25 million in additional net proceeds from the Private
Placement.

For further queries, please contact:

Pareto Securities AS 
Martin Øberg Sjøstedt
Tel: +47 22 87 87 14

Important Notice

These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of Skitude in the
United States or any other jurisdiction. The securities of the Company may not
be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act. Any sale in the United States of the
securities mentioned in this communication will be made solely to "qualified
institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No
public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

This announcement contains certain forward-looking statements (as such term is
defined in Section 21E of the U.S. Securities Exchange Act of 1934, as amended)
concerning future events, including possible issuance of equity securities of
the Company. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors, , include, but are not limited to,
the possibility that we will determine not to, or be unable to, issue any equity
securities, and could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements. The information, opinions and forward-looking statements contained
in this announcement speak only as at its date, and are subject to change
without notice. As a result, you are cautioned not to rely on any
forward-looking statements. We make no prediction or statement about the
performance of any such securities.

This announcement is made by and, and is the responsibility of, the Company. The
Managers are acting exclusively for the Company and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients, or for advice in relation to the contents
of this announcement or any of the matters referred to herein. Neither the
Managers nor any of their respective affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

Each of the Company, the Managers and their respective affiliates expressly
disclaims any obligation or undertaking to update, review or revise any
statement contained in this announcement whether as a result of new information,
future developments or otherwise.

Certain figures contained in this document, including financial information, may
have been subject to rounding adjustments. Accordingly, in certain instances,
the sum or percentage change of the numbers contained in this document may not
conform exactly with the total figure given.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions. Specifically, neither this announcement nor
the information contained herein is for publication, distribution or release, in
whole or in part, directly or indirectly, in or into or from the United States
(including its territories and possessions, any State of the United States and
the District of Columbia), Australia, Canada, Hong Kong, Japan or any other
jurisdiction where to do so would constitute a violation of the relevant laws of
such jurisdiction. The publication, distribution or release of this announcement
may be restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to comply
with these restrictions may constitute a violation of the securities laws of any
such jurisdiction.

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