Vow Green Metals AS: Update on financial situation

09 Apr 2025 22:00 CEST

Reference is made to the earlier stock exchange announcements by Vow Green
Metals AS ("VGM") (ticker VGM) regarding the strategic review announcement in
April 2024, and later updates, including the announcement on the bridge
financing on 18 February 2025 and the latest update in connection with VGM's
publication of second half-year results for 2024 on 28 February 2025.

As stated in connection with the publication of the half-year results, the
Company has been working towards a deadline for securing longer-term liquidity
by May 2025, was based on certain liquidity projections and assumptions made by
the Company in February 2025. These assumptions were, amongst other, based on
then expected costs and cash runway and that the Company's NOK 5 million credit
facility with SR-Bank would either be repaid by, or extended from, mid-April
2025. An extension would need to be contingent on a long-term solution for VGM,
which is currently not concluded.

Due to extraordinary costs incurred by the Company after the 28 February 2025
update, VGM's cash runway is shorter than previously announced. The Company is
working with solutions to secure longer-term financing, and is pleased that it
has promising and mature dialogues for a strategic transaction, which it is
working to conclude by the end of next week. However, although promising, no
final agreement has been concluded to date and the Company does not have funding
beyond 14 April 2025.

ENDS

For further information, please contact:

Jan Halvard Aas Møller, CFO
Vow Green Metals AS
Tel: + 47 901 15 375
Email: jan.moller@vowgreenmetals.com

Cecilie Jonassen, CEO
Vow Green Metals AS
Tel: +47 954 20 126
Email: cecilie.jonassen@vowgreenmetals.com


About Vow Green Metals
Vow Green Metals’ strategy is to be a leading producer of biocarbon and other
carbon-neutral products that enable the green transition in hard-to-abate
industries. We are on a mission to accelerate the world’s transition to
renewable materials by offering green alternatives to replace fossil-reduction
agents in the metallurgical industry. The core of our business is to build, own
and operate biocarbon production plants using state-of-the-art pyrolysis
technology to turn biomass and biomass waste streams into our core product,
biocarbon. Our biocarbon production process also creates other valuable products
like bio-oil and bioenergy. With our standardized solutions, unique access to
proprietary technology, and a growing global pipeline of projects, we are
upholding our first-mover position in a growing market where speed and scale
will be determining factors. Vow Green Metals is building a new biocarbon
industry on the shoulders of its largest shareholder and technology partner, Vow
ASA, which provides access to competence and capabilities acquired through
decades of industrial innovation.
Read more: www.vowgreenmetals.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading
Act. This stock exchange announcement was published by Peder Poulsson, Vow Green
Metals AS, on 9th April 2025 at CET 22:00.

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