Zelluna ASA — Major Shareholding Notification 2025

Nov 25, 2025

Zelluna ASA: Disclosure of large shareholding

Zelluna ASA: Disclosure of large shareholding

Oslo, 25 November 2025

Reference is made to the stock exchange announcement made by Zelluna ASA (the "Company") on 3 November 2025 regarding the allocation of 5,500,000 new shares in the Company in a private placement (the "Private Placement"), divided on a first tranche of 3,729,774 new shares ("Tranche 1") and a second tranche of 1,770,226 new shares ("Tranche 2"). Reference is further made to the stock exchange announcement made by the Company on 25 November 2025 announcing that an extraordinary general meeting of the Company resolved to issue the new shares in Tranche 2 of the Private Placement.

Geveran Trading Co. Ltd ("Geveran") owns 2,507,832 shares in the Company. Following the issuance of the Tranche 2 shares and completion of the Private Placement, Geveran's ownership interest in the Company will cross below 10 per cent threshold, to 9,55%. The reduction in ownership is due to dilution following the Private Placement.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act and is subject to the disclosure requirement pursuant to section 5-12 of the Norwegian Securities Trading Act.