JØTUL HOLDINGS S.A - Exercise of right to defer interest payment Jotul Holdings S.A. (the “Company”) hereby announces that it will exercise its right to defer interest payments and issue PIK Bonds, in accordance with the terms and conditions relating to the Company’s outstanding up to NOK 400,000,000 senior secured bond loan with ISIN NO0010815749 2018/2022 (the “Terms and Conditions”). The Interest due on the Interest Payment Date occurring on 30 October 2020 will be settled by issuance of PIK Bonds (as defined in the Terms and Conditions). The applicable Interest Rate will be [9,29828%] per annum. This information is information that Jotul Holdings S.A. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CEST on 16 October 2020. For further information, please contact: Jotul Group Nils Agnar Brunborg Tel: +47 906 05 578 E-mail: Nils.Brunborg@jotul.no