Endúr ASA – BMO to acquire Wimo

13 May 2026 – BMO Entreprenør AS (“BMO”), a wholly owned subsidiary of Endúr ASA (“Endúr”), is happy to announce its planned acquisition of 100% of the shares of Wimo AS (“Wimo” / “The Company”), through BMO Fjell AS (“BMO Fjell”), a company under incorporation. Wimo, including its wholly owned subsidiaries, Wimo Fjellsikring AS and Wimo Utleie AS, will operate as a subsidiary of BMO Fjell, joining forces with Norsk Bergsikring AS (“NBS”), an existing subsidiary of BMO.

Wimo is a niche contractor and rockfall protection specialist, located in Bergen, Norway. The Company provides rockfall and landslide protection, soil stabilization and certain groundworks, operating both as main contractor and sub-contractor, primarily under unit price contracts.

Key personnel, including General Manager, Anders Lindstad, hold minority ownership stakes in The Company and will resume their current positions after the completion of the transaction. With a solid regional presence in Bergen and approx. 60 employees, The Company brings valuable resources and expertise to complement BMO’s and NBS’s existing service offerings. Wimo will continue to operate as an independent company, but in close partnership with NBS, under joint ownership by BMO Fjell.

“This transaction significantly strengthens our capabilities and geographical presence within a market niche where we already have proved to be highly competitive”, says Aleksander Rød, General Manager of BMO.

“Consolidation and collaboration with another proven rockfall protection and infrastructure rehabilitation specialist, paves the way for continued profitable growth, making this an optimal structure for all parties involved”, says Anders Lindstad, General Manager of Wimo.

The acquisition values Wimo at an enterprise value on cash- and debt-free basis, excluding leasing liabilities (“EV”) of NOK ~80 million. The Company expects to report consolidated FY 2025 revenues of around NOK ~120 million, with a consolidated operating result (“EBIT”) of around NOK ~12 million (10%). In addition to a sound strategic rationale, the acquisition will be highly accretive with an implied EV/EBIT multiple of ~6.7x. The acquisition adds approximately NOK ~100 million to Endúr’s existing backlog.

The acquisition will be partly financed with a NOK 22.5 million seller’s credit, to be settled 18 months after closing. Key personnel and sellers, including Anders Lindstad, will also receive considerations shares in Endúr of NOK 12 million, valued at the shares’ volume weighted average price (“VWAP”) on The Oslo Stock Exhange for the last 15 trading days leading up to this announcement, and also NOK 8 million of consideration shares in BMO Fjell. As part of the transaction, BMO and the existing minority owners of NBS will transfer, in kind, their shares in NBS to BMO Fjell. The consideration shares in BMO Fjell of NOK 8 million, price NBS at an equity value of NOK 100 million on 100% basis.

The consideration shares in Endúr will be subject to lock-up restrictions, being released with 1/3 every 12 month after closing. The consideration shares in BMO Fjell will be subject to adherence to the existing shareholders' agreement entered into between BMO and the minority shareholders of NBS.

"BMO and NBS have demonstrated the ability to drive growth and create value, both organically and through structural initiatives, making BMO Fjell an ideal platform for this strategic investment. We look forward to following BMO Fjell, containing both Wimo and NBS, in the years ahead", says Jeppe Raaholt, CEO of Endúr.

A signed share purchase agreement is in place and the acquisition is expected to close by the end of Q2 in 2026, with completion being subject to certain customary conditions.

Arctic Securities and Advokatfirmaet Bull, respectively, acted as financial and legal advisors to Endúr.

For further comments, contact:

Media: Aleksander Rød, General Manager of BMO: +47 994 61 454 Jeppe Raaholt, CEO of Endúr: +47 976 69 759

Investors: Einar Olsen, CFO of Endúr: +47 924 01 787

(ENDS)

About Endúr: Endúr ASA (XOSL: ENDUR) is a leading Scandinavian contractor headquartered in Lysaker and listed on the Oslo Stock Exchange. The company specializes in critical infrastructure, including bridges, quays, tunnels, and dams. Operating as a disciplined serial acquirer (compounder), the group utilizes a decentralized model that grants subsidiaries high autonomy to preserve their technical expertise and local market positions. Endúr drives long-term value through strategic platform acquisitions and targeted bolt-ons in fragmented niche markets.