Vow Green Metals AS

Report Publication Announcement • Apr 27, 2023

Vow Green Metals AS: Annual Report 2022

Vow Green Metals AS: Annual Report 2022

Vow Green Metals AS (“Vow Green Metals” or the “Company”) today publishes its Annual Report 2022, which includes consolidated accounts for the Company, sustainability report and the independent auditor’s report.

In her letter to the shareholders and stakeholders, Vow Green Metals’ Chief Executive Officer, Cecilie Jonassen, writes:

“Vow Green Metals hit the ground running and are entering 2023 prepared to produce and deliver biocarbon at an industrial scale already in the third quarter. We are also starting the construction phase of one of Europe’s largest biocarbon facilities as we continue to make significant strides in our mission to accelerate the world’s transition to renewable materials by spearheading the development of a rapidly growing biocarbon industry.”

With unique access to proven technology and standardized solutions, and a growing pipeline totaling 600,000 tons of biocarbon production capacity, the Company is well-positioned for further growth.

“Backed by favorable industrial trends and strong regulatory tailwinds, we expect the demand and price competitiveness of biocarbon to increase significantly. The cost of CO2 emissions in Europe has grown rapidly and is expected to continue its path for years to come, meaning that the cost of using fossil reduction materials is on the rise. As coal is phased out as an energy source, it will also become increasingly difficult to source high-quality coal needed for metal production. At the same time, the green transition and other macro trends, like the rise of the middle class worldwide, are creating a push in demand for sustainable metal-based materials to be used in transportation and electronics, and silicon-based renewable technologies, such as solar PV,” Jonassen adds.

The reports are attached and are also available on:

https://www.vowgreenmetals.com/investors/results-and-presentations

ENDS

For more information, please contact

Cecilie Jonassen, CEO, Vow Green Metals AS Tel: + 47 954 20 126

Email: cecilie.jonassen@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.

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