Convertible bond holders of KV4 have, in accordance with previous conversion undertakings, requested conversion of 50percent of the total outstanding loan amount under KV4, corresponding to MSEK50, into new ordinary shares in the Company. The conversion price has, in accordance with the terms and conditions of KV4, been set at SEK1.13, corresponding to the subscription price in the rights issue resolved by the Board of Directors of the Company on 29November 2022.

As a result of the conversion, Swedish Stirling's share capital will increase with SEK442,477.87, from SEK1,284,192.53 to SEK1,726,670.40, and the number of ordinary shares will increase by 44,247,787ordinaryshares, from 128,419,253ordinaryshares to 172,667,040ordinaryshares, corresponding to a dilution of approximately 25.6percent of the total number of shares in Swedish Stirling after the conversion (the share information provided is not taking into account the shares that will be issued in the rights issue). Following the conversion, the remaining convertible loan amounts to MSEK50.

The convertible bond holders have undertaken not to dispose of any ordinary shares that result from the conversion up to and including 180 days after the announcement of the final outcome of the rights issue (expected on or about 23 December 2022).