Energeia AS – Announcement of stabilization

13 Dec 2022 07:00 CET

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Oslo, 13 December 2022: Reference is made to the previous announcements from
Energeia AS (“Energeia” or the “Company”) regarding the successful completion of
a private placement of gross proceeds NOK 90.9 million (the "Private Placement")
and admission to trading on Euronext Growth Oslo of the shares in the Company
(the "Shares") taking effect today, 13 December 2022 (the “Admission”).

Fearnley Securities AS, acting as stabilization manager (the "Stabilization
Manager") may, on behalf of the Managers (as defined below), engage in
stabilization activities of the Shares from today to and including 11 January
2023 (the "Stabilization Period").

As part of the Private Placement, the Managers have over-allotted 3,669,441
Shares (the "Additional Shares") to investors in the Private Placement, which
equals to approximately 10% of the 36,730,559 new Shares allocated in the
Private Placement. In order to permit delivery of the Additional Shares, the
Stabilization Manager, on behalf of the Managers, has borrowed a number of
Shares equal to the number of Additional Shares from the existing shareholder,
Jakobsen Energia AS, a company controlled by CEO Viktor Jakobsen (the "Share
Lender"), which will be redelivered to the Share Lender upon expiry of the
Stabilization Period.

Further, the Company has granted the Stabilization Manager an option (the
"Greenshoe Option"), which may be exercised on behalf of the Managers, to
subscribe for a number of Shares up to the number of Additional Shares, at a
price per Share equal to the subscription price in the Private Placement of NOK
2.475 per share (the "Offer Price"). The Stabilization Manager can use the
Greenshoe Option to cover any short positions resulting from the over-allotment
of the Additional Shares in the Private Placement not covered through share
purchases made as part of any stabilization activities.

The Stabilization Manager may effect transactions with a view to supporting the
market price of the Company’s Shares, through buying Shares in the Company on
Euronext Growth Oslo at prices equal to or lower than (but not above) the Offer
Price, to an amount equal to the Additional Shares. There is no obligation on
the Stabilization Manager to conduct stabilization activities and there can be
no assurance that stabilization activities will be undertaken. If stabilization
activities are undertaken, they may be discontinued at any time, and must be
brought to an end upon or before expiry of the Stabilization Period.

If stabilization activities are undertaken, the Company will publish information
on the activities no later than seven trading days following such
transaction(s). Further, within one week after the expiry of the Stabilization
Period, the Stabilization Manager will publish information as to whether or not
stabilization activities were undertaken. If stabilization activities were
undertaken, the statement will also include information about: (i) the date on
which the stabilization activities began and ended; and (ii) the price range
between which stabilization was carried out for each day stabilization
activities occurred.

Any stabilization activities will be conducted based on the principles set out
in article 5(4) of the EU Market Abuse Regulation and Chapter III of the
supplemental rules set out in the Commission Delegated Regulation (EU) 2016/1052
with regard to regulatory technical standards for the conditions applicable to
buy-back programmes and stabilization measures.

Any net profits from stabilization activities will be to the benefit of the
Company. The Company will furthermore receive the proceeds from the Additional
Shares if, and to the extent that, the Greenshoe Option is exercised.

Advisors:
Fearnley Securities AS and Norne Securities AS (the "Managers") are acting as
Joint Global Coordinators and Joint Bookrunners in respect to the Private
Placement and the Admission. Advokatfirmaet Wiersholm AS is acting as legal
counsel to Energeia, while Advokatfirmaet Grette AS is acting as legal counsel
to the Managers.

For further information, please contact:
CEO, Viktor Jakobsen, email: viktor@energeia.no and telephone: +47 916 11 009
Deputy CEO, Jarl Egil Markussen, email: jarl@energeia.no and telephone: +47 480
23 214

Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or its
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended together with any applicable
implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operates, the
Company's ability to attract, retain and motivate qualified personnel, changes
in the Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
announcement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither the Managers nor any of its affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein. This announcement is made by, and is the responsibility of, the Company.
The Managers and their affiliates are acting exclusively for the Company and
no-one else in connection with the transactions described in this announcement.
They will not regard any other person as their respective clients in relation to
the transactions described in this announcement and will not be responsible to
anyone other than the Company, for providing the protections afforded to their
respective clients, nor for providing advice in relation to the transactions
described in this announcement, the contents of this announcement or any
transaction, arrangement or other matter referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of its affiliates accepts any liability arising from the use of
this announcement.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

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