Warrants of series (2020

2) TO2 B we subscribed to approximately 94.9 percent and TerraNet Holding AB receives approximately SEK 38.3 million

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TerraNet Holding AB (”TerraNet” or the ”Company”) today announces the outcome of the exercise of  warrants of series TO2 B, which were issued in connection with the Company’s preferential rights issue  during the second quarter of 2020. In total, 47,906,993 warrants of series TO2 B were exercised,  corresponding to approximately 94.9 percent of the total number of outstanding warrants of series TO2  B, for subscription of 47,906,993 B-shares at a subscription price of SEK 0.80 per B-share. TerraNet will  receive approximately SEK 38.3 million before issuing costs through the exercise of the warrants of  series TO2 B.  

Background  

At the 2020 annual general meeting, it was resolved to approve the board of directors' resolution to carry out a preferential rights issue of units. Each unit consisted of two (2) shares, one (1) warrant of  series TO1 B, one (1) warrant of series TO2 B, and one (1) warrant of series TO3 B. The subscription  period for exercise of the warrants of series TO2 B took place from March 8, 2021 up to and including  March 19, 2021. The subscription price per B-share for exercising the warrants of series TO2 B was set  to SEK 0.80. 

In total, 47,906,993 warrants of series TO2 B were exercised for subscription of 47,906,993 B-shares,  meaning that approximately 94.9 percent of all outstanding warrants of series TO2 B were exercised for  subscription of B-shares. 

Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish  Companies Registration Office. The interim shares are expected to be converted to B shares within  approximately three (3) weeks. 

Number of shares, share capital and dilution  
Through the exercise of the warrants of series TO2 B, the number of shares in TerraNet increases by  47,906,993 shares, from 217,006,263 (consisting of 1,170,963 A-shares and 215,835,300 B-shares)  to a total of 264,913,256 shares. The share capital will increase by SEK 479,069.93, from SEK  2,170,062.63 to SEK 2,649,132.56.