Fibo Group AS - Agreement to sell 100% of the shares in Fibo Holding AS with subsidiaries to Norcros plc

Fibo Holding AS ("Fibo"), a leading international supplier of high-qualitywaterproof wall systems, today announced that its owners, including FSNCapitalIV* have entered into an agreement to sell 100% of the shares in Fibo,includingFibo Group AS and its other subsidiaries, to Norcros plc, a UK-listed, leadingsupplier of bathroom products for an Enterprise Value of NOK 618m (the"Transaction"). Established in 1952 in Norway, Fibo has built a robust platform supplyinghigh-quality waterproof, decorative wall panels for public buildings, privatehomes and modular buildings. For the financial year ended 31 December 2024,FiboGroup reported net sales of NOK 856.3m and EBITDA of NOK 100.0m .Fibo's operational model, with all production based at its highly automatedfacility in Norway, secures consistent product quality and supply reliability.Under FSN Capital IV's ownership since 2015, Fibo has transformed into ahighlyresilient, internationally diversified business. Revenue streams have becomemore balanced across more than 20 countries, including a significant footprintin the UK market. Efficient operations and strategic international expansionhave enabled Fibo to deliver reliable, predictable growth over the pastseveralyears. By joining Norcros, Fibo will benefit from enhanced resources to supportgrowthand innovation, access to valuable knowledge-sharing opportunities with adiverse portfolio of bathroom brands, and the advantages of greater scale.Thesebenefits will enable Fibo to strengthen its presence and continue expanding inboth existing and new markets. Anders Carlson, CEO at Fibo, added: "Becoming part of Norcros opens up newopportunities, including access to greater resources and the chance to learnfrom and collaborate with new colleagues. Most importantly, Fibo will be abletogrow, innovate, and expand its reach to serve more customers around the world.We are thankful for a valuable partnership with FSN Capital IV, which has beenkey to the successful development of Fibo into an international company withsignificant potential to scale."The Transaction is subject to approval by applicable authorities and isexpectedto be completed during the second half of 2025. Subject to completion of theTransaction, Fibo intends to fully redeem the senior secured bonds issued byitssubsidiary Fibo Group AS with ISIN NO 0011204356. The bond redemption isexpected to take place on or about completion of the Transaction and furtherdetails will be announced in due course.*FSN Capital GP IV Limited acting in its capacity as general partner for andonbehalf of each of FSN Capital IV L.P., FSN Capital IV (B) L.P. and FSN CapitalIV Invest L.P.About FiboFounded in Norway in 1952, Fibo is a leading supplier of high-qualitywaterproofwall systems for wet rooms. With nearly 70 years of innovation, Fibo offers aversatile range of fully waterproof wall panels and accessories, providing adurable, sustainable and cost-effective alternative to tiles, trusted fortheircertified quality and performance.Fibo holds the number one market position in Norway and has a strong andgrowingpresence across Europe and North America. Serving both public, residential andcommercial sectors, from new builds to renovations and modular projects, Fiboproducts reach customers via builders' merchants, DIY chains, and direct B2Bsales.With a modern, automated facility in Lyngdal, Norway, and global materialsourcing, Fibo continues to set the standard for waterproof wall solutionsworldwide, supported by over 15 years of consistent growth.For more information, please visit: www.fibo.com

For further information, please contact Anders Carlson, CEO - aca@fibosystem.comPaula Teixidor Bustins, CFO - pbu@fibosystem.com This information is subject to the disclosure requirements pursuant to theMarket Abuse Regulations article 19 and section 5-12 of the NorwegianSecuritiesTrading Act.

https://newsweb.oslobors.no/message/651284