Vow ASA — Capital/Financing Update 2021

Jul 19, 2021

Vow ASA : Vow ASA awarded serial cruise newbuild contracts for up to Euro 22.2 million by major European shipyard

Vow ASA : Vow ASA awarded serial cruise newbuild contracts for up to Euro 22.2 million by major European shipyard

Vow ASA has through its subsidiary Scanship AS been awarded 10 contracts for its

clean ship systems for up to 10 cruise ships, where 4 contracts are firm orders

at a total value of Euro 8.880.000 and 6 contracts are optional contracts at a

total value of Euro13.320.000.

Each contract includes the supply of state-of-the-art technology to process

garbage, food waste and wastewater onboard cruise ships carrying 1500 people

aboard. Scanship has previously delivered and are currently delivering equal

systems to 10 cruise ships built by the same yard for the same shipowner on a

newbuild program commenced in 2012. The new orders are an extension of this

program, where the first equipment delivery for the 11(th) ship will be in

1Q 2023.

"We are very pleased to continue to supply our technology towards one of the

largest newbuild programs in the cruise industry. We are also extremely proud,

as it confirms our long-time capability to deliver advanced technology at large

industry scale, in line with quality standards and delivery schedule required by

shipyard, and according to shipowner need of being compliant with highest

effluent standards at sea.", says Vow ASA CEO Henrik Badin in a statement.

Shipyard and shipowner will be disclosed at later stage.

For further inquiries:

Henrik Badin, CEO

Vow ASA

Tel: +47 90 78 98 25

Email: henrik.badin@vowasa.com

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About Vow ASA

In Vow and our subsidiaries Scanship and Etia we are passionate about preventing

pollution. Our 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.

Our ambitions go further than this. With our advanced technologies and

solutions, we turn waste into biogenetic fuels to help decarbonize industry and

convert plastic waste into fuel, clean energy and high-value pyro carbon.

Our solutions are scalable, standardized, patented and thoroughly documented,

and our 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 from 13 January 2020). The Vow group has 120 employees in Norway,

France, Poland and the US.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.