VLRS GRP BidCo completes the recommended public cash offer to the shareholders of Triona AB (publ) and extends the acceptance period

This announcement is not an offer, whether directly or indirectly, in Australia, Hong Kong, Japan, Canada, New Zealand, United States, South Africa, Russia, Belarus, Singapore or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled "Important information" at the end of this announcement and in the offer document.

TORONTO, Nov. 12, 2026 /PRNewswire/ -- On 1 October 2026, VLRS GRP BidCo AB¹ ("Volaris BidCo"), a company indirectly controlled by Volaris Group Inc. ("Volaris Group"), announced a recommended public cash offer to the shareholders of Triona AB (publ) ("Triona") to sell all shares for SEK 45.5 in cash per share ("the Offer"). The shares in Triona are listed on the NGM Growth Market. The completion of the Offer is conditional, among other things, upon the Offer being accepted to such an extent that Volaris BidCo becomes the owner of shares in Triona representing more than 90 per cent of the total number of shares in Triona (on a fully diluted basis).

Shares tendered in the Offer

The Offer has been accepted by shareholders holding a total of 5,648,959 shares in Triona, corresponding to approximately 99.09 per cent of the total number of shares and votes in Triona. Volaris BidCo has neither held nor acquired any shares in Triona outside of the Offer since the Offer was announced. Volaris BidCo will therefore, upon payment of the consideration, hold 5,648,959 shares in Triona, corresponding to approximately 99.09 per cent of the total number of shares and votes in Triona.

In addition to the foregoing, neither Volaris BidCo nor any party related to Volaris BidCo owned any shares or other financial instruments that provide financial exposure equivalent to a shareholding in Triona at the time of the announcement of the Offer, and none of them has acquired, or entered into an agreement to acquire, such shares or financial instruments outside the Offer.

Completion of the Offer

All conditions for the completion of the Offer have been satisfied. Volaris BidCo therefore declares the Offer unconditional and will complete the acquisition of the shares tendered in the Offer. Payment of consideration for shares tendered in the Offer no later than 12 November 2026, is expected to commence around 23 November 2026.

Extension of the acceptance period

To give remaining shareholders the opportunity to accept the Offer, Volaris BidCo is extending the acceptance period by two weeks up to and including 26 November 2026, at 3:00 p.m. CET. Payment of consideration for shares tendered during the extended acceptance period is expected to commence on or about 3 December 2026. Since the Offer is unconditional, shareholders who have already accepted the Offer, or who accept during the extended acceptance period, are not entitled to withdraw their acceptances. Volaris BidCo reserves the right to further extend the acceptance period. Notice of any such extension will be published by Volaris BidCo via a press release in accordance with applicable rules and regulations.

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1} A private limited liability company with corporate ID number 559588–2001 and registered office in Gothenburg.

Compulsory redemption of Triona shares

Volaris BidCo intends to initiate a compulsory redemption in accordance with the Swedish Companies Act with respect to those Triona shares that are not tendered in the Offer during the extended acceptance period, and to take steps to have the Triona shares delisted from the NGM Growth Market.

Information on the Offer

Information on the Offer is available at: https://www.volarisgroup.com/offer-information

For administrative questions regarding the Offer, please contact, in the first instance, your bank or custodian where your shares are held.

This information was submitted for publication on 12 November 2026, at 17:30 CET.

Important information

This press release has been published in Swedish and English. In the event of any discrepancy in content between the two language versions, the Swedish version shall prevail.

This announcement is not an offer, whether directly or indirectly, in Australia, Hong Kong, Japan, Canada, New Zealand, the United States, South Africa, Russia, Belarus, Singapore or in any other jurisdictions where such offer pursuant to legislation and regulations in such relevant jurisdictions would be prohibited by applicable law (the "Restricted Jurisdictions").

The release, publication or distribution of this press release in or into jurisdictions other than Sweden may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than Sweden should inform themselves about, and observe any applicable requirements. In particular, the ability of persons who are not resident in Sweden to accept the Offer may be affected by the laws of the relevant jurisdictions in which they are located. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Offer disclaim any responsibility or liability for the violation of such restrictions by any person.

This announcement has been prepared for the purpose of complying with Swedish law, the Swedish Stock Market Self-Regulation Committee's Takeover rules for certain trading platforms  (the "Takeover Rules") and the Swedish Securities Council's rulings regarding interpretation and application of the Takeover Rules and the information disclosed may not be the same as that which would have been disclosed if this press release had been prepared in accordance with the laws of jurisdictions other than Sweden.

Unless otherwise determined by Volaris BidCo or required by Swedish law, the Takeover Rules and the Swedish Securities Council's rulings regarding interpretation and application of the Takeover Rules, and permitted by applicable law and regulation, the Offer will not be made available, directly or indirectly, in, into or from a Restricted Jurisdiction or any other jurisdiction where to do so would violate the laws in that jurisdiction and no person may accept the Offer by any use, means or instrumentality (including, but not limited to, facsimile, e-mail or other electronic transmission, telex or telephone) of interstate or foreign commerce of, or of any facility of a national, state or other securities exchange of any Restricted Jurisdiction or any other jurisdiction where to do so would constitute a violation of the laws of that jurisdiction and the Offer may not be capable of acceptance by any such use, means, instrumentality or facilities. Accordingly, copies of this press release and any formal documentation relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction or any other jurisdiction where to do so would constitute a violation of the laws of that jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any Restricted Jurisdiction or any other jurisdiction where to do so would constitute a violation of the laws of that jurisdiction.

The availability of the Offer to shareholders of Triona who are not resident in and citizens of Sweden may be affected by the laws of the relevant jurisdictions in which they are located or of which they are citizens. Persons who are not resident in or citizens of Sweden should inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions.

The Offer, the information and documents contained in this press release are not being made and have not been approved by an authorized person for the purposes of section 21 of the UK Financial Services and Markets Act 2000 (the "FSMA"). Accordingly, the information and documents contained in this press release are not being distributed to, and must not be passed on to, the general public in the United Kingdom, unless an exemption applies. The communication of the information and documents contained in this press release is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is a communication by or on behalf of a body corporate which relates to a transaction to acquire day to day control of the affairs of a body corporate; or to acquire 50 percent or more of the voting shares in a body corporate, within article 62 of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.

Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential and other effects of the Offer, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as "anticipates", "intends", "expects", "believes", "estimates", "plans", "will be" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Actual results and developments may differ materially from those expressed in, or implied or projected by these forward-looking statements due to many factors, many of which are outside the control of Volaris BidCo. Forward-looking statements appear in a number of places throughout this announcement and the information incorporated by reference into this announcement and may include statements regarding the intentions, beliefs or current expectations of Volaris BidCo or Triona concerning, amongst other things: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; (ii) business and management strategies, the expansion and growth of Volaris BidCo's or Triona's business operations and potential synergies resulting from the Offer; and (iii) the effects of government regulation and industry changes on the business of Volaris BidCo or Triona. Any forward-looking statements made herein speak only as of the date on which they are announced. Except as required by the Takeover Rules or applicable law or regulations, Volaris BidCo expressly disclaims any obligation or undertaking to publicly announce updates or revisions to any forward-looking statements contained in this press release or the offer document to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Volaris BidCo or Triona have made or may make.