Vow ASA — Share Issue/Capital Change 2021

Jul 8, 2021

Vow ASA : Last day of trading inclusive of rights to consideration shares in Vow Green Metals AS

Vow ASA : Last day of trading inclusive of rights to consideration shares in Vow Green Metals AS

The shares in Vow ASA (the "Company" or "Vow") will tomorrow, on Friday 9 July

2021, trade for the last day inclusive of rights to consideration shares in Vow

Green Metals AS ("VGM").

Type of corporate action: The shares in Vow ASA will trade exclusive of rights

to consideration shares in Vow Green Metals AS ("VGM"). Eligible shareholders

will receive one (1) consideration share in VGM for each share they own in Vow

as of the cut-off date as registered in the Norwegian Central Securities

Depositary (the VPS) as of the record date.

Cut-off date: 9 July 2021

Ex.date: 12 July 2021

Record date: 13 July 2021

Delivery of consideration shares in VGM to eligible Vow shareholders' VPS

accounts: On or about 14 July 2021

The demerger, through which the biocarbon business of Vow is demerged from Vow

and merged into VGM against distribution of shares in VGM to existing

shareholders of Vow, was approved by the general meetings of Vow and VGM,

respectively, on 14 May 2021 (the "Demerger"). The exchange ratio in the

Demerger is 93.5 (remaining) / 6.5 (transferred). The creditor notice period for

the Demerger expired at 24:00 hours CEST on 7 July 2021 and the completion of

the Demerger is expected to be registered with the Norwegian Register of

Business Enterprises (Nw. Foretaksregisteret) following close of trading on Oslo

Børs tomorrow, on 9 July 2021.

The consideration shares in VGM will be distributed on a pro rata basis to the

shareholders of Vow as of the expiry of 9 July 2021 (the cut-off date), as

registered in Vow's shareholder register in the Norwegian Central Securities

Depositary (the "VPS") as of 13 July 2021 (the record date). Eligible

shareholders in Vow will receive one (1) consideration share in VGM for each

share they own in Vow as of the cut-off date as registered in the VPS as of the

record date. It is expected that the consideration shares in VGM will be

delivered and made available to eligible shareholders of Vow on 14 July 2021.

The consideration shares will, upon completion of the Demerger, constitute

approximately 69.5% of the issued shares in VGM while the remaining

approximately 30.5% of the issued shares in VGM will be held by Vow. All shares

in VGM are, and the consideration shares will be, registered in the VPS in book-

entry form and the shares rank in parity with one another and carry one vote per

share.

From and including Monday 12 July 2021, the shares in Vow will trade exclusive

of rights (ex.date) to the consideration shares in VGM.

VGM will from Monday 12 July 2021 trade under the ticker "VGM" on Euronext

Growth Oslo. Trading in the VGM shares will commence prior to delivery of such

shares to eligible shareholders' VPS accounts. Trades during this period until

delivery of the shares to eligible shareholders' VPS accounts will be settled on

a T+2 basis.

Please note that the dates set out herein are subject to the Demerger being

registered with the Norwegian Register of Business Enterprises and in the VPS,

respectively, on 9 July 2021. Should such registrations not take place for any

reason, all dates referred to herein will be subject to change. The Company will

publish a stock exchange announcement upon completion of the registration of the

Demerger with the Norwegian Register of Business Enterprises and in the VPS.

For more information, please contact

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 the

Continuing Obligations for Issuers of Shares in accordance with Oslo Rule Book

II - Issuer Rules.