Vow Green Metals AS: Update on financial situation

11 Apr 2025 19:15 CEST

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Reference is made to the stock exchange announcement by Vow Green Metals AS (the
"Company" or "VGM") (ticker: VGM) on 9 April 2025 where VGM provided an update
on the Company's financial situation.

SpareBank 1 Sør-Norge has today agreed to extend the Company's NOK 5 million
credit facility until 2 June 2025. As a result of the extension, the Company's
existing cash runway is extended until the end of April 2025.

The Company will need additional liquidity in order to secure operations beyond
end of April 2025. The Company has a loan facility of NOK 15 million to DNB
which falls due 15 May 2025, a loan from Vow ASA of NOK 11 million which falls
due on 30 June 2025, as well as certain project costs. Further, based on the
current business plan, the Company has a monthly cash burn of approx. NOK 5
million. Depending on the Company's development pace, with the current run rate,
the Company expects that it will need minimum NOK 85 million to NOK 105 million
in the next 12 months.

Furthermore, it will seek equity financing in its subsidiary, VGM Operatør
Holding AS, of about NOK 100 million in order to finance the next phase of the
Hønefoss project.

Dialogues regarding solutions to secure short and longer-term financing
continues.



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 11th April 2025 at CET 19:15.

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