Resolution to increase the share capital in connection with settlement of underwriting commission

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Oslo, 9 December 2024: Reference is made to the stock exchange announcement published by Vow ASA (the "Company") on 19 November 2024 regarding the approval by the extraordinary general meeting of the Company of a fully underwritten rights issue of 166,666,666 new shares in the Company (the "Offer Shares"), at a subscription price of NOK 1.50 per share (the "Rights Issue").

In connection with the Rights Issue, a total of 9,910,929 new shares, each at a subscription price of NOK 1.50 (the "Underwriting Commission Shares") shall be delivered to the underwriters pursuant to the subscription and underwriting agreement dated 27 September 2024 as settlement of their entitlement to commission under said agreement.

In accordance with the authorisation granted to the board of directors at the extraordinary general meeting held on 19 November 2024, the board of directors has today resolved to increase the share capital by NOK 926,671.8615 by the issuance of 9,910,929 new shares, each with a nominal value of NOK 0.0935 and a subscription price of NOK 1.50. The subscription price of NOK 1.50 per Underwriting Commission Share is equal to the subscription price in the Rights Issue.

The share capital increase relating to the issuance of the Underwriting Commission Shares is expected to be registered with the Norwegian Register of Business Enterprises on or about 18 December 2024, and the Underwriting Commission Shares are expected to be delivered to the underwriters on or about 19 December 2024.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Henrik Badin, CEO, Vow ASA
Tel: [phone]
Email: [e-mail]

Tina Tønnessen, CFO, Vow ASA
Tel: [phone]
Email: [e-mail]

About Vow ASA

Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company's world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries. Advanced technologies and solutions from Vow enable industry decarbonisation and material recycling. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven. The company is a cruise market leader in wastewater purification and valorisation of waste. It also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda. Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).