Energeia AS

Share Issue/Capital Change • Jan 12, 2023

Resolution on share capital increase in connection with exercise of Greenshoe Option

Resolution on share capital increase in connection with exercise of Greenshoe Option

Oslo, 12 January 2023: Reference is made to the stock exchange announcements by Energeia AS (“Energeia” or the “Company”) on 11 January 2023 where the Company announced the end of the stabilization period following the private placement of new shares in the Company (the “Private Placement”) and the subsequent admission to trading on Euronext Growth Oslo, as well as the correction notice of 12 January 2023.

During the stabilization period, Fearnley Securities AS, as stabilization manager, (the "Stabilization Manager") purchased a total of 2,000,000 shares in the Company as part of the stabilization activities.

In order for the Stabilization Manager to permit redelivery of the 3,669,441 shares in the Company that were borrowed from Jakobsen Energia AS (a company controlled by the Company’s CEO Viktor Jakobsen) and over-allotted in the Private Placement, the Stabilization Manager has in part exercised the option to subscribe for new shares in the Company at a price of NOK 2.475 (the “Greenshoe Option”).

On this basis, the Board of Directors of the Company has today resolved to increase the share capital of the Company with NOK 33,388.82 by the issuance of 1,669,441 new shares, each with a nominal value of NOK 0.02, pursuant to the board authorization issued by the extraordinary general meeting on 2 December 2022 and registered with the Norwegian Register of Business Enterprises (Norw. Foretaksregisteret) on 5 December 2022. The new shares were subscribed by, and will be delivered to, the Stabilization Manager.

Following registration of the share capital increase in the Norwegian Register of Business Enterprises (Norw. Foretaksregisteret), the Company's share capital will be NOK 2,384,306.24 divided into 119,215,312 shares with a nominal value of NOK 0.02 each.

Contact persons:

CEO, Viktor Jakobsen, email: viktor@energeia.no and telephone: +47 916 11 009

Deputy CEO, Jarl Egil Markussen, email: jarl@energeia.no and telephone: +47 480 23 214

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