Vow ASA — Share Issue/Capital Change 2020

Sep 21, 2020

Vow ASA : Employee stock options exercised

Vow ASA : Employee stock options exercised

Today, a total number of 360 001 employee stock options were exercised at NOK

17.90 per share in accordance with outstanding employee stock option program

adopted at the AGM in 2019. Please refer to notification of 23.05.19.

The Company's board of directors will use its proxy to issue 360 001 new shares

at the exercise price NOK 17.90 to the option holders, as settlement of options

exercised.

Following the issuance of the new shares, the issued share capital of Vow ASA

will be NOK 10 925 987 consisting of 109 259 870 fully paid shares, each with a

par value of NOK 0.10.

Issuance of shares to primary insiders who has exercised stock options will be

as follows:

Erik Magelssen, CFO:  36 667 shares at price NOK 17.90 per share

Lasse Grinden, Group Controller: 6 667 shares at price NOK 17.90 per share

Mr. Lasse Grinden has 3 281 shares in Vow ASA before the issuance of new shares.

In addition, Helene Grytli, who is a related party to Mr. Lasse Grinden, owns

3 281 shares in Vow ASA. Mr. Erik Magelssen do not own shares in Vow ASA prior

to the exercise of stock options.

For further queries, please contact:

Henrik Badin - CEO Vow ASA

Tel: + 47 90 78 98 25

Email: henrik.badin@vowasa.com

About Vow ASA

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

pollution and giving waste value. 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).

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.