Vow Green Metals AS

Regulatory Filings • Jun 30, 2023

Vow Green Metals: Drop-down demerger – legal reorganization of the company

Vow Green Metals: Drop-down demerger – legal reorganization of the company

The Board of Directors of Vow Green Metals AS (“VGM”) has prepared a drop-down demerger plan (the “Drop-down”) to be presented to the Extraordinary General Meeting, whereby a part of VGM’s business (the “Follum Business”) is transferred to a separate, wholly owned subsidiary. The Drop-down is technically carried out through a demerger of the Follum Business into a wholly owned VGM subsidiary, which in turn is merged with another existing subsidiary, namely VGM Operatør AS, as new owner of the Follum Business.

The Follum Business to be transferred includes all assets, rights and obligations related to the Follum project. At the completion of the Drop-down, VGM’s ownership of the Follum Business will be indirectly through VGM Operatør AS – a wholly owned VGM subsidiary. The number and nominal value of the shares in VGM will remain unchanged after the completion of the Drop-down.

KWC has provided a fairness opinion to VGM in connection with the valuation of the Follum Business that is subject to the Drop-down.

The notice for an Extraordinary General Meeting will be prepared and announced as soon as possible.

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

For more information, please contact:

Peder Poulsson, Finance Manager, Vow Green Metals AS

Tel: +47 950 26 311

Email: peder.poulsson@vowgreenmetals.com

About Vow Green Metals

Vow Green Metals’ strategy is to be a leading producer of biocarbon and other carbon neutral products that enables the green transition in hard-to-abate industries. We are on a mission to accelerate the world’s transition to renewable materials by offering green alternatives to replace fossil reduction agents in the metallurgical industry. The core of our business is to build, own and operate biocarbon production plants using state-of-the-art pyrolysis technology to turn biomass and biomass waste-streams into our core product, biocarbon. Our biocarbon production process also creates other valuable products like bio-oil and bioenergy. With our standardized solutions, unique access to proprietary technology, and a growing global pipeline of projects, we are upholding our first mover position in a growing market where speed and scale will be determining factors. Vow Green Metals is building a new biocarbon industry on the shoulders of its main owner and technology partner, Vow ASA, which provides access to competence and capabilities acquired through decades of industrial innovation.