Swedish Stirling has reached an agreement with all holders of KV4 according to which the Company has received irrevocable undertakings from the convertible bond holders to convert 50 per cent of the total outstanding loan amount under KV4, corresponding to MSEK 50, to new ordinary shares in the Company. Conversion shall take place during the period 7-21 December 2022 at a conversion price corresponding to the subscription price in the contemplated rights issue in the Company (the "Rights Issue"). The conversion undertakings are conditional upon the extraordinary general meeting, to be held on 28 November 2022 (the "EGM"), resolving on the amendments of the terms and conditions of KV4 as set out in the notice to the EGM published earlier today and the board's separate proposal available on the Company's website (the "Proposed Amendments").

The convertible bond holders have further irrevocably given their consent to the Proposed Amendments and undertaken towards the Company, ABG Sundal Collier AB and Bryan, Garnier & Co Ltd, in their capacity as financial advisors to the Company, not to dispose of any shares that result from conversion in accordance with the terms and conditions of KV4 for a period of 180 days after the announcement of the final outcome of the Rights Issue (expected on or about 23 December 2022).

This information is information that Swedish Stirling AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below on 9 November 2022 at 09:00 CET.