Vow Green Metals AS

Capital/Financing Update • Apr 11, 2025

Vow Green Metals AS: Update on financial situation

Vow Green Metals AS: Update on financial situation

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Reference is made to the stock exchange announcement by Vow Green Metals AS (the "Company" or "VGM") (ticker: VGM) on 9 April 2025 where VGM provided an update on the Company's financial situation.

SpareBank 1 Sør-Norge has today agreed to extend the Company's NOK 5 million credit facility until 2 June 2025. As a result of the extension, the Company's existing cash runway is extended until the end of April 2025.

The Company will need additional liquidity in order to secure operations beyond end of April 2025. The Company has a loan facility of NOK 15 million to DNB which falls due 15 May 2025, a loan from Vow ASA of NOK 11 million which falls due on 30 June 2025, as well as certain project costs. Further, based on the current business plan, the Company has a monthly cash burn of approx. NOK 5 million. Depending on the Company's development pace, with the current run rate, the Company expects that it will need minimum NOK 85 million to NOK 105 million in the next 12 months.

Furthermore, it will seek equity financing in its subsidiary, VGM Operatør Holding AS, of about NOK 100 million in order to finance the next phase of the Hønefoss project.

Dialogues regarding solutions to secure short and longer-term financing continues.

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 11th April 2025 at CET 19:15.