Vow ASA — Board/Management Information 2021

May 28, 2021

Vow ASA : Vow Green Metals appoints CEO and CFO

Vow ASA : Vow Green Metals appoints CEO and CFO

The Board of Vow Green Metals is pleased to confirm the appointment of Cecilie

Jonassen and Lars Mårdalen as Chief Executive Officer (CEO) and Chief Financial

Officer (CFO) respectively of the new company. The appointments are important

steps towards the demerger and separate listing of Vow Green Metals later this

year.

Established by and currently a wholly owned subsidiary of Vow ASA, Vow Green

Metals is a pioneer in recycling of biomass and production of biocoal, a

material which plays a crucial role in the ongoing decarbonising of

metallurgical industry.

The company's first production plant is being planned at Follum in Eastern

Norway for completion in 2022. A letter of intent is already in place with the

advanced materials company Elkem for delivery of biocoal from the Follum plant.

Most players in the metallurgical industry have committed to comprehensive

decarbonising programmes in response to new regulation and expectations from

investors and customers. Vow Green Metals has a firm ambition to help this

industry reach their goals.

About Cecilie Jonassen

"Vow Green Metals' new CEO Cecilie Jonassen has broad experience from valorising

biomass on an industrial scale, and she shares our ambition on developing a

company which will help entire industries decarbonise. There is no doubt she

will be a valuable contribution to the company," said Narve Reiten, Chair of

both Vow ASA and Vow Green Metals.

In her current role, Cecilie Jonassen is Director of Operations Support in the

Norwegian paper manufacturing company Norske Skog, where she has held various

positions in Germany and Norway since 2005. A Norwegian originally from

Fredrikstad, she has a Master of Science degree in chemical engineering from

2005 from NTNU, the Norwegian University of Science and Technology.

About Lars Mårdalen

"Lars Mårdalen has broad experience from financial transactions, structured

finance and capital markets across several capital intensive industries. He will

play an important role for the financial and strategic development of Vow Green

Metals," said Narve Reiten.

Lars Mårdalen comes from the position as CFO of Gram Car Carriers. He has held

various positions in finance in Höegh LNG and the privately owned investment

firm Kistefos. A Norwegian born in Kragerø, he has a Master of Science degree

(siviløkonom) from 2002 from NHH, the Norwegian School of Economics and Business

Administration.

"I very much look forward to working with them in their respective roles. They

bring with them strong industrial competence and experience which will

accelerate the development of Vow Green Metals. We will build a bridge between

two traditional industries, the forest based industry which has been in decline

for many years in Norway, and the thriving metals and advanced materials

industries," concluded Narve Reiten.

For more information please contact

Narve Reiten, Chair of Vow ASA and Vow Green Metals AS

Tel: +47 924 33 320

Email: nr@reitenco.no

Henrik Badin, CEO, Vow ASA

Tel: +47 907 89 825

Email: henrik.badin@vowasa.com

About Vow

Vow and its subsidiaries Scanship and Etia are passionate about preventing

pollution. The company's world leading solutions convert biomass and waste into

valuable resources and generate clean energy for a wide range of industries.

Cruise ships on every ocean have Vow technology inside which processes waste and

purifies wastewater. Fish farmers are adopting similar solutions, and public

utilities and industries use our solutions for sludge processing, waste

management and biogas production on land.

With advanced technologies and solutions, Vow turns waste into biogenetic fuels

to help decarbonise industry and convert plastic waste into fuel, clean energy,

and high-value pyro carbon. The solutions are scalable, standardised, patented,

and thoroughly documented, and the company's capability to deliver is well

proven. They are key to end waste and stop pollution.

Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange

(ticker VOW).

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.