Atlas has, by a notice of conversion, requested conversion of convertible bonds with a nominal value of NOK 2,500,000 which, pursuant to the bond terms, are convertible into 4,165,972 new shares in the Company at a conversion price of NOK 0.60.

The Company's share capital will accordingly be increased by NOK 2,499,583.20 by the issuance of 4,165,972 new shares upon completion of the conversion by registration of the share capital increase in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following the conversion, the Company's total share capital will be NOK 20,211,387.00 divided into 33,685,645 shares, each with a nominal value of NOK 0.60.

Furthermore, reference is made to the stock exchange announcement by the Company on 29 May 2024, regarding the financing commitment provided by Atlas to fund the Company's operations until the end of June 2025 (the "Financing Commitment"). The Company has by a notice of exercise under the Agreement and the Financing Commitment requested Atlas to subscribe and pay for two tranches of convertible bonds, consisting of 16 convertible bonds with an aggregate principal amount equal to NOK 8,000,000. Atlas will be allocated these bonds under the terms and conditions of the Investment Agreement.