Go North AB (publ) – Notice of Event of Default

To the holders of the (i) bonds with Cash Tranche ISIN: NO0013165845 and Set-off Tranche ISIN: NO0013165852 (the “2024 Bonds”) and the (ii) bonds with SEK Tranche ISIN: NO0012829847 and USD Tranche ISIN: NO0012829854 (the “2023 Bonds”) and the (iii) bonds with ISIN: NO0013148411 (the “Backstop Fee Bonds”), issued by Go North AB (publ) (the “Issuer”) (the bonds listed in (i)-(iii) (inclusive) are together referred to as the “Bonds”).

Intertrust (Sweden) AB, in its capacity as agent (the “Agent”), hereby gives notice to all bondholders of the occurrence of an Event of Default (hereinafter as defined in the applicable terms and conditions governing each of the Bonds).

Reference is made to the 2024 Bonds and the terms and conditions of the Bonds entered into on 26 February 2024 (the “Terms and Conditions for the 2024 Bonds”). Reference is also made to the 2023 Bonds governed by the terms and conditions dated 26 February 2024 (as amended and restated from time to time) (the “Terms and Conditions for the 2023 Bonds“). Reference is further made to the Backstop Fee Bonds, governed by the terms and conditions dated 26 February 2024 (the “Backstop Fee Terms and Conditions”).

The Issuer has initiated a reorganization (Sw. företagsrekonstruktion), which, pursuant to Clause 14.7 (a) (Insolvency Proceedings) of the Terms and Conditions for the 2024 Bonds, Clause 14.6 (a) (Insolvency Proceedings) of the Terms and Conditions for the 2023 Bonds and Clause 14.6 (a) (Insolvency Proceedings) of the Backstop Fee Terms and Conditions, constitutes an Event of Default. Pursuant to Clause 14.12 (c) (Acceleration of the Bonds) of the Terms and Conditions for the 2024 Bonds, Clause 14.11 (c) (Acceleration of the Bonds) of the Terms and Conditions for the 2023 Bonds and Clause 14.11 (c) (Acceleration of the Bonds) of the Backstop Fee Terms and Conditions, the Agent shall notify the bondholders of an Event of Default within five (5) business days of the date on which the Agent received actual knowledge of that an Event of Default has occurred and is continuing.

Furthermore, the Agent seeks instructions on the appropriate course of action in response to the current situation and encourages bondholders to contact the Agent in order to establish a bondholder’s committee.

Please find attached the full notice.

For questions in relation to this notice, please contact the Agent at trustee@intertrustgroup.com

Yours faithfully,

Intertrust (Sweden) AB, the Agent