Oslo, 1 December 2021 
 
Carbon Transition ASA (Carbon Transition) is pleased to announce that Wayne
Thomson (strategic advisor to Carbon Transition on carbon capture) has been
nominated to the board of directors of CO2 Capsol AS (CO2 Capsol) by Carbon
Transition. The board of directors and major shareholders of CO2 Capsol have
welcomed the nomination and Mr. Thomson is expected to commence his new role
with CO2 Capsol in the near term for the benefit of all of CO2 Capsol's
shareholders.

Carbon Transition's nomination of Mr. Thomson is a result of Carbon Transition
having made a strategic entry into the carbon capture area and a significant
investment into CO2 Capsol as announced on 12 October 2021, and thereby becoming
a large shareholder in CO2 Capsol. Go to the link for the stock market
announcement related to Carbon Transition's investment into CO2 Capsol:
https://newsweb.oslobors.no/message/544158

On 9 November 2021, Carbon Transition announced that Mr. Thomson was appointed
strategic advisor of Carbon Transition.  Wayne Thomson has extensive experience
from the carbon capture area, as he was Chairman of the Board of the Canadian
carbon capture technology company Svante Inc. between 2015 and June 2021, a key
period of Svante Inc.'s development and growth phase. Mr. Thomson also
functioned as Executive Chairman at Svante Inc. for a period. In addition, Mr.
Thomson has vast experience from the oil and gas sector spanning several
decades. Reference the stock market announcement of 9 November 2021 for more
information about Wayne Thomson: https://newsweb.oslobors.no/message/546260 

Enclosed to this announcement is CO2 Capsol's announcement related to the
nomination of Wayne Thomson.

For further information, please contact:

Gisle Grønlie, Chairman of the Board
gisle.gronlie@magnoraasa.com
+47 917 51 194

Nils Haugestad, CFO
nils.haugestad@carbn.no
+47 977 04 439

About Carbon Transition ASA 
Carbon Transition ASA ("CARBN") is an investment company listed on Euronext
Expand. CARBN has a strategy to invest in companies and technologies which
contribute to significant reductions of carbon emissions. The company may also
invest more broadly in the "energy transition" space. CARBN has a legacy seismic
business operating under the name Axxis Geo Solutions, with both an ocean-bottom
seismic contract business and a multi-client data library.
More information on www.carbn.no