NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR THE UNITED STATES OR
ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD
BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.


Oslo, 25 September 2025: 

Reference is made to the stock exchange announcement published by Energeia AS
(the "Company") earlier today regarding the last day of the subscription period
in the fully underwritten rights issue (the "Rights Issue") of 1,033,333,333 new
shares in the Company ("Offer Shares"), each at a subscription price of NOK 0.03
per share, raising gross proceeds of 31 million. 

The subscription period for the Rights Issue expired today, 25 September 2025,
at 16:30 CEST.

The Company is happy to announce that by the end of the subscription period, the
Company had received valid subscriptions for 1,285,667,095 Offer Shares in the
Rights Issue and the Rights Issue was oversubscribed by 24 %. Consequently, the
Company will issue 1,033,333,333 Offer Shares and raise NOK 31 million in gross
proceeds through the Rights Issue.

The board of directors of the Company has today resolved to allocate
1,033,333,333 Offer Shares in accordance with the allocation principles set out
in the extraordinary general meeting's resolution and as included in the
prospectus pertaining to the Rights Issue dated 8 September 2025 (the
"Prospectus"). 

The Board would like to emphasize that the oversubscribed Right Issue shows
great support from both existing shareholders and new investors and will provide
the Company with the required financial flexibility to pursue development of its
project portfolio going forward.

The following primary insiders of the Company and their close associates
subscribed for and were allocated shares as follows:
Obligo Nordic Climate Impact Fund AB subscribed for and was allocated
166,666,666 shares. 
Eidsiva Vekst AS subscribed for and was allocated 100,000,000 shares.
Robert Veenstra, CEO of Energeia Netherlands, subscribed for and was allocated
1,350,052 shares through his fully owned company Trimtabber BV.

Notifications of allocated Offer Shares in the Rights Issue and the
corresponding subscription amount to be paid by each subscriber are expected to
be distributed 26 September. The due date for payment of the Offer Shares is 29
September 2025.

Subject to duly and timely payment of the Offer Shares, the share capital
increase is expected to be registered in the Norwegian Register of Business
Enterprises ("NRBE") on or about 6 October 2025 and will be delivered to the VPS
accounts of the subscribers shortly thereafter, expected on or about 7 October
2025. A separate announcement will be made when the share capital increase has
been registered. The Offer Shares will have equal rights and rank pari passu
with the Company's other shares.

Following completion of the Rights Issue, the Company's share capital will be
NOK 22,233,137.13 divided into 2,223,313,713 shares, each with a nominal value
of NOK 0.01. 

As previously announced, an underwriting consortium was established for the full
amount of the Rights Issue. The Underwriters will receive an underwriting
commission equal to 10% of their underwriting obligation, which shall be settled
in new shares in the Company (the "Underwriting Shares") to be issued at the
Subscription Price, for a total of 103,333,333 new shares. Including the
Underwriting Shares, the Company's share capital after the Rights Issue will be
NOK 23,266,470.46 divided into 2,326,647,046 shares, each with a nominal value
of NOK 0.01.

The Company will publish a separate stock exchange announcement once the share
capital increase has been registered with the NRBE.

For further information, please contact: 

Jarl Egil Markussen, CEO, e-mail: jarl@energeia.no and tel: +47 480 23 214 

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.