Trading update, appointment of financial advisors, financing from main shareholder and chairman, and appointment of interim CFO

22 Jan 2026 08:20 CET

(Verdal, 22 January 2026) The Board of Directors of Ocean GeoLoop AS (Ocean
GeoLoop, OSE:OGL) today announces the appointment of Clarksons Securities AS and
Fearnley Securities AS to explore strategic options available to the company,
including a potential equity raise directed towards industrial and financial
investors, and the appointment of Iver Baatvik as interim CFO.

Reference is made to the third quarter 2025 business update 6 November 2025
stating: “The board is continuously evaluating the capital strategy going
forward and is considering strategic partnerships, project financing and
separate funding of ambitious plans related to electricity activities, as well
as overall funding in the parent company.”

The company currently has limited available liquidity. In response to this
situation, the Board has initiated a process aiming to protect shareholder value
and to secure funding to pursue the company's growth strategies, including the
recent positive developments and outlook for the electricity activities, based
on the e-Loop technology, developed by founder Hans Gude Gudesen. The main
shareholder Gudesen has today committed to provide financing of NOK 10 million,
and a company related to Anders Onarheim, Chairman of the Board of Directors,
has committed to provide financing of NOK 1 million, as loans to the company on
market terms intended to be converted to equity in the potential equity raise,
ensuring the continued momentum for the carbon capture business and electricity
activities, in addition to provide working capital for the company until a
potential equity raise is completed. With the financing from Gudesen and
Onarheim and other cost saving initiatives being implemented, the Company has
secured runway until primo May 2026.

“I am excited about the vast possibilities provided by the company's efficient
and clean carbon capture technology and clean, renewable energy using the e-Loop
technology. The combination of the two provides possibilities, especially in
times of unrest and uncertainty, within areas such as carbon neutral e-fuel,
chemicals and polymers. I have therefore decided to financially support the
company with NOK 10 million until an equity raise is completed," says Hans Gude
Gudesen, technology inventor and founder of Ocean GeoLoop.

No assurances can be given as to the outcome or timing of the review process.
Ocean GeoLoop expect to provide updated information early in February 2026 and
does not intend to make any further public comment regarding the process unless
such disclosure is required or appropriate.

Following the tragic passing of CFO Maria Hosen, the company has appointed Iver
Baatvik as Interim Chief Financial Officer. Baatvik brings more than 15 years of
experience in corporate finance, financial strategy and capital markets,
including senior roles in BW LPG and leading Nordic financial institutions. He
has led multiple capital markets transactions and brings strong experience
within investor management, structured financing and financial governance. He
assumes the position with immediate effect.
ENDS

For further information, please contact:
- Anders Onarheim, Chairman of the Board Ocean GeoLoop, phone: +47 97 40 15 11
- Odd-Geir Lademo, CEO Ocean GeoLoop, phone: +47 92 05 29 01

About Ocean GeoLoop | www.oceangeoloop.com
Ocean GeoLoop AS uses nature’s own way to solve the challenges of our time in a
circular way. The company has introduced the GeoLoop CC technology that captures
CO2 from point source emissions using natural and harmless processes. Ocean
GeoLoop will help companies and countries achieve their goals of reduced
emissions and access to renewable electricity for the green transition. The
company is listed on the Oslo Stock Exchange Euronext Growth under the ticker
OCEAN.
Visit Ocean GeoLoop on LinkedIn/OceanGeoLoop.


This information is considered to include inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Viggo Iversen, Chief Operating Officer, at 22
January 2026, 08:20.

More information:
Access the news on Oslo Bors NewsWeb site

664036_Notification OGL 22012026.pdf