Knox Energy Solutions AS

Conversion of shares in Rapid Oil Production Ltd (Rapid Oil) to shares in Knox Energy Solutions AS (Knox)

All the shareholders of Rapid Oil who had committed to convert their shares in

Rapid Oil to shares in Knox in connection with the extraordinary shareholders

meeting on August 23, 2024, have decided to complete the conversion.

This also includes the shareholders who had a condition for the conversion that

the Knox share will be listed on Euronext Growth.

It also includes the two board members Georges Lambert and Sven Tiefenthal and

the COO Tom Kristiansen.

A total of 28,190 shares in Rapid Oil will be exchanged for a combination of

warrants and new shares to be issued by Knox, in accordance with the resolution

from the extraordinary shareholders meeting on August 23, 2024.

A detailed list will follow.

After the conversion, Knox will hold a total of 56,190 shares in Rapid Oil,

equivalent to 40% of the outstanding shares of the company.

For further information, please contact:

Geir Aune, Chairman, [email protected]

Harald B. Hansen, CEO, [email protected]

About Knox | knox-energy.com

Knox Energy Solutions AS is an international energy company, with a holding in

Rapid Oil Production Ltd. (Rapid), a UK-based oil and gas company backed by a

highly experienced board and management team.

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