Axactor ASA: S&P Outlook Revised to Stable from Negative, "B-" Ratings is Affirmed

On November 27, 2025, S&P released a research update announcing that theoutlookfor Axactor ASA's ratings has been revised from negative to stable. In thesameupdate, S&P affirmed the company's long-term issuer credit rating at 'B-'.

The decision to revise the outlook reflects several important factorsidentifiedby S&P. Notably, Axactor ASA's capital structure has improved, underpinned byadiversification in the company's debt maturities. This positive developmentmeans that Axactor ASA is not facing any significant debt maturities withinthenext twelve months.

S&P concluded that the combination of a strengthened capital structure and thelack of major near-term debt maturities has resulted in a reduced refinancingrisk for the company.

The research update from S&P is enclosed.

For further information, please contact:

Kyrre Svae, Deputy CEO & CSO, AxactorTel: +47 478 39 405E-mail: kyrre.svae@axactor.com

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