Candle Lake Limited has acquired shares in Evolution AB, thereby triggering a mandatory offer obligation

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR DISCLOSURE WOULD BE IN VIOLATION OF APPLICABLE LAWS OR REQUIRE ADDITIONAL REGISTRATION OR ANY OTHER MEASURES. THIS PRESS RELEASE IS NOT AN OFFER TO ACQUIRE SHARES. THIS PRESS RELEASE IS MADE IN ACCORDANCE WITH CHAPTER 3 SECTION 1 OF THE SWEDISH ACT ON PUBLIC TAKEOVERS ON THE STOCK MARKET (2006:451).

Candle Lake Limited[1]("Candle Lake") has acquired 2,050,000 shares in Evolution AB (publ) ("Evolution") (the "Acquisition"). Following the Acquisition, Candle Lake's total holding, together with its affiliates' holdings, amounts to 59,798,619 shares, corresponding to approximately 30.02 percent of the total number of shares and votes in Evolution.

Through the Acquisition, the mandatory offer threshold is passed, entailing that Candle Lake is required to launch a mandatory takeover offer for the remaining shares in Evolution within four weeks from the Acquisition, or to sell such number of shares that Candle Lake's shareholding represents less than three tenths of the voting rights for all shares in Evolution.

The shares in Evolution are listed on Nasdaq Stockholm, Large Cap.

Roschier Advokatbyrå AB is acting as legal advisor to Candle Lake.

For further information, please contact:

Pontus Enquist, legal advisor

Email: pontus.enquist@roschier.com

Tel: +46 (0)72 700 46 03

This press release was submitted for publication on 24 July 2026 at 22:40 CEST.

Important information

This press release is not an offer to acquire shares. Anyone passing the mandatory offer threshold of 30 percent of the votes in a company with shares admitted to trading on a regulated market must according to Chapter 3 Section 1 of the Swedish Act on Public Takeovers on the Stock Market (2006:451) disclose the passing of the mandatory offer threshold. This press release constitutes such a disclosure.