Vow ASA — Share Issue/Capital Change 2022

Oct 6, 2022

Vow ASA: Employee Stock Options exercised

Vow ASA: Employee Stock Options exercised

A total number of 201 001 employee stock options were exercised during the pre-

defined exercise period 1 till 20 September 2022 at a price of NOK 16.74 per

share in accordance with outstanding employee stock option program adopted at

the AGM in 2019, as amended at AGM on 19 May 2022.

The Company's board of directors has decided to use its proxy to issue 201 001

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 10 737 621,4385 consisting of 114 840 871 fully paid shares, each

with a par value of NOK 0.09350.

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

follows:

* Jonny Hansen, COO Vow ASA: 26 667 shares at price NOK 16.74 per share

Following this transaction, Mr. Jonny Hansen owns 10 040 000 shares including

shares owned by the close associate company Exproco Limited.

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

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 (mailto:erik.magelssen@vowasa.com)

About Vow

Vow and its subsidiaries Scanship, C.H. Evensen 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 at Lysaker outside 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.