Vow ASA — Share Issue/Capital Change 2021

Sep 21, 2021

Vow ASA : Employee stock options exercised

Vow ASA : Employee stock options exercised

Today, a total number of 380 000 employee stock options were exercised at NOK

16.74 per share in accordance with the outstanding employee stock option program

adopted at the AGM in 2019, as amended in relation to the demerger completed in

July 2021.

The Company's board of directors will use its proxy to issue 380 000 new shares

at the exercise price NOK 16.74 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 10 718 827, 845 consisting of 114 639 870 fully paid shares, each

with a par value of NOK 0.09350.

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

as follows:

* Henrik Badin, CEO        :         73 333 shares at price NOK 16.74 per

share

* Erik Magelssen, CFO    :         36 667 shares at price NOK 16.74 per share

* Jonny Hansen, COO     :         53 333 shares at price NOK 16.74 per share

Following this transaction, Mr. Henrik Badin owns 9 973 333 shares in Vow ASA

including shares owned by the close associate company Badin Invest Limited, and

Mr. Jonny Hansen owns 10 013 333 shares including shares owned by the close

associate company Exproco Limited. Following this transaction Erik Magelssen

owns 73 334 shares in Vow ASA.

Please refer to the attached notifications of trading for further details.

For further queries, please contact:

Erik Magelssen - CFO Vow ASA

Tel: + 47 928 88 728

Email: erik.magelssen@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.