Pursuant to the written procedure in relation to Go North's outstanding senior secured bonds with ISINs NO0012829847 (SEK Tranche) and NO0012829854 (USD Tranche) (the "Senior Bonds") that was successfully completed on 16 February 2024 (the "Written Procedure"), holders of Senior Bonds ("Bondholders") shall receive a consent fee (the "Consent Fee") that shall be mandatorily used by each such Bondholder as set-off payment for convertible bonds in the Issuer (by way of directed issue to such Bondholders), in an aggregate amount of SEK 350,963,669 SEK representing a 20% equity stake in Go North (the "Convertibles").

Go North hereby announces issuance of Convertibles in an amount of SEK 125,768,203 (the "Issued Convertibles") under a framework of SEK 350,963,669 SEK. The Issued Convertibles will be delivered to the relevant Bondholders as soon as possible upon registration with Euroclear Sweden AB. As of 22 May 2024, approximately 36 per cent. of the relevant Bondholders entitled to receive the Consent Fee, and in turn the Convertibles, have given Notice (as defined below) to Intertrust (Sweden) AB (the "Agent") to receive the Consent Fee, and in turn the Convertibles. The remaining approximately 64 per cent. of the Bondholders entitled to receive Convertibles are encouraged to give Notice to the Agent as per the instructions below as soon as possible and no later than on the Last Notice Date (as defined below).

In order for the relevant Bondholders to be able to receive the Consent Fee, and in turn the Convertibles, such Bondholder must make themselves known by giving notice to the Agent that it wishes to receive the Consent Fee, and, in turn, the Convertibles, including information on such Bondholder's custody account or VP-account (as applicable) (a "Notice"). Bondholders are strongly encouraged to give a Notice to the Agent with the requested information as soon as possible in order to receive Convertibles. Proof of ownership of the relevant Senior Bonds is also required to be provided to be eligible to receive the Consent Fee.

If the Agent has not received a Notice from the relevant Bondholders prior to 17:00 CEST 13 June 2024 (the "Last Notice Date"), such Bondholder(s) will not be entitled to receive the Consent Fee and, in turn, the Convertibles.

Contact details to the Agent:

Intertrust (Sweden) AB
Attention: Norea Marklund
Phone: +46 (0)70 829 55 84
E-mail: trustee@intertrustgroup.com