Vow ASA — Capital/Financing Update 2021

Jun 8, 2021

Vow ASA : Vow secures financing to accelerate landbased initiatives

Vow ASA : Vow secures financing to accelerate landbased initiatives

Vow ASA ('Vow' or the 'Company') has secured NOK 320 million long-term financing

from DNB, the bank, establishing a strong financial foundation for further

innovation and project development in land-based industries.

The financing arrangement consists of a NOK 170 million term loan and a NOK 150

million revolving credit facility, both classified as "green financing" at

attractive terms, and within the DNB Sustainable Product Framework. This

framework includes a verification by DNV, the assurance and risk management

company, and is based on the international Green Loan Principles (GLP).

"The new loan and credit facility will further bolster our efforts to grow our

landbased business. In March this year we raised NOK 230 million in gross

proceeds to the company through a private placement, and more recently we were

awarded a NOK 81 million grant from Enova to support the building of a first

biocarbon production plant at Follum in Eastern Norway," said Henrik Badin,

Chief Executive Officer (CEO) of Vow.

Enova is a Norwegian state-owned enterprise established to promote a shift

towards more environmentally friendly energy consumption and production. The

plant at Follum is an important first for Vow Green Metals, a recently

established subsidiary which will be demerged from Vow and listed as a separate

company later this summer.

"We have now not only secured financing of Vow's involvement in Vow Green

Metals' first stage development at Follum. We have also established a strong

financial foundation for further expansion at Follum and innovation and project

development activities in other land-based industries. Our pipeline is rife with

interesting opportunity in a number of industry verticals, including CO2 neutral

energy, metallurgy, and various forms of biomass conversion and valorisation,"

said Mr Badin.

For more information please contact

Henrik Badin, CEO, Vow ASA

Tel: + 47 90 78 98 25

Email: henrik.badin@vowasa.com

Erik Magelssen, CFO, Vow ASA

Tel: +47 928 88 728

Email: erik.magelssen@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.