Kyoto Group AS

Kyoto Group AS: Notification of trade by primary insiders and their close associates

Oslo, Norway, 10 January 2023 - Reference is made to the stock exchange

announcement by Kyoto Group AS (the "Company") published on 10 January 2023

regarding the successfully placed private placement of new shares in the Company

at a price per share of NOK 17.50, raising gross proceeds of approximately NOK

60 million (the "Private Placement").

The following persons discharging managerial responsibilities and their close

associates were allocated shares in the Private Placement:

· Valinor AS, a close associate of the board member Pål Selboe Valseth, was

allocated a total of 488,600 shares

· Hydro Energi Invest AS, a close associate of the board member Ivar Valstad,

was allocated a total of 285,714 shares

· Bjarke Buchbjerg, Chief Technology Officer of the Company, was allocated a

total of 1,428 shares

· Henrik Holck-Clausen, Chief People & Culture Officer of the Company, was

allocated a total of 4,285 shares

· Tim de Haas, Chief Commercial Officer of the Company, was allocated a total

of 5,714 shares

· Agnieszka Sledz, Chief Project Officer of the Company, was allocated a total

of 17,142 shares

Please see the notification form for the transactions attached to this release.

For more information, please contact:

Håvard Haukdal, Kyoto Group CFO

+47 48 10 65 69

About Kyoto Group

Heat accounts for half of industrial energy consumption. Traditionally, nearly

all of it is based on fossil fuels. Kyoto Group's Heatcube, a thermal energy

storage (TES) solution, provides a sustainable and cost-effective alternative by

capturing and storing abundant but variable energy from sources such as solar

and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, and has

subsidiaries in Spain and Denmark. The Kyoto share is listed on Euronext Growth

(ticker: KYOTO).

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