Teco 2030 ASA — Director's Dealing 2023

Feb 26, 2023

TECO 2030 Transfer of ownership by primary insiders

TECO 2030 Transfer of ownership by primary insiders

(Lysaker, Norway, February 26th 2023): TECO 2030 ASA has been notified by primary insiders of a transfer in ownership. TECO Group AS has distributed a dividend of 5,041,430 shares to its owners, including parties closely related to TECO 2030 primary insiders Sigurd Gaarder Lange (Chairman), Tore Enger (Group CEO) and Tor-Erik Hoftun (COO).

After the transaction:

Sigurd Gaarder Lange holds 425,320 shares through his fully owned company Lange Industries AS. Sigurd Lange also holds 1,500,000 share options in the Company.

Tore Enger holds 3,831,487 shares through his fully owned company TECO Holding AS. Tore Enger also holds 1,500,000 share options in the Company.

Tor-Erik Hoftun holds 2,816,371 shares through his fully owned company Equitor AS. Tor-Erik Hoftun also holds 900,000 share options in the Company.

TECO Group AS holds 47,000,000 shares after the transaction, in which Tore Enger holds 76%, Sigurd Lange holds 8% and Tor-Erik Hoftun holds 2,96% of TECO Group AS.

In addition, TECO Holding AS transferred 100,000 shares to Bettina Nowak, TECO 2030 Inc. CEO, who holds 8,107,430 shares in the company after this transfer. TECO Holding AS now holds 3,731,487 shares in the company.

About:

TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2023 and early 2024, targeting an output capacity of 120 MW of fuel cells in 2024, 400 MW in 2025 and 1.6 GW in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.