GRØNTVEDT AS - UPDATE ON CAPITAL RAISING AND REFINANCING EFFORTS

10 May 2025 09:35 CEST

We refer to the previous stock exchange notices dated 28 March 2025 and 11 April
2025, respectively, from Grøntvedt AS (the "Company"). In the notice of 28 March
2025, the Company announced its intention to raise new capital in the region of
NOK 300-500 million, and it also secured necessary waivers and extensions under
its financing arrangements until 9 May 2025. The notice of 11 April 2025
informed that the annual report for 2024 is expected to be published no later
than 30 May 2025.

The Company is pleased to report progress in its efforts to raise capital and
refinance its financial debt obligations, and is now entering the final stages
of these initiatives, with the implementation period expected to be concluded no
later than 30 May 2025 (the "Implementation Date").
The Company is also pleased to announce that it has obtained a formal extension
of the waiver from our lender and provider of working capital until the
Implementation Date, which also aligns with the new date for the publication of
the annual report for 2024, as approved by the Oslo Stock Exchange. The
Implementation Date also falls within the relevant remedy period under the
Company's bond obligations. During this period, the Company intends to meet all
its financial obligations.

For further information, please contact:
Bjørnar Grøntvedt, CEO: 915 46 244
Atle Helberg, CFO: 909 15 822

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