Vow Green Metals AS

Capital/Financing Update • Apr 9, 2025

Vow Green Metals AS: Update on financial situation

Vow Green Metals AS: Update on financial situation

Reference is made to the earlier stock exchange announcements by Vow Green Metals AS ("VGM") (ticker VGM) regarding the strategic review announcement in April 2024, and later updates, including the announcement on the bridge financing on 18 February 2025 and the latest update in connection with VGM's publication of second half-year results for 2024 on 28 February 2025.

As stated in connection with the publication of the half-year results, the Company has been working towards a deadline for securing longer-term liquidity by May 2025, was based on certain liquidity projections and assumptions made by the Company in February 2025. These assumptions were, amongst other, based on then expected costs and cash runway and that the Company's NOK 5 million credit facility with SR-Bank would either be repaid by, or extended from, mid-April 2025. An extension would need to be contingent on a long-term solution for VGM, which is currently not concluded.

Due to extraordinary costs incurred by the Company after the 28 February 2025 update, VGM's cash runway is shorter than previously announced. The Company is working with solutions to secure longer-term financing, and is pleased that it has promising and mature dialogues for a strategic transaction, which it is working to conclude by the end of next week. However, although promising, no final agreement has been concluded to date and the Company does not have funding beyond 14 April 2025.

ENDS

For further information, please contact:

Jan Halvard Aas Møller, CFO

Vow Green Metals AS

Tel: + 47 901 15 375

Email: jan.moller@vowgreenmetals.com

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 enable 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 largest shareholder and technology partner, Vow ASA, which provides access to competence and capabilities acquired through decades of industrial innovation.

Read more: www.vowgreenmetals.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Peder Poulsson, Vow Green Metals AS, on 9th April 2025 at CET 22:00.