Stavanger, 5 April 2024: Reference is made to the stock exchange notice
published by Norsk Renewables AS (the "Company") 15 February 2024, regarding the
successful placing of a private placement of 120,895,299 new shares in the
Company (the "Private Placement"), as well as the stock exchange announcement
made on 2 April 2024 where the Company announced that the general meeting had,
inter alia, resolved to grant the Company's board of directors (the "Board") an
authorisation to increase the Company's share capital by up to NOK 232,000. 

The Board has today resolved to carry out a subsequent offering (the "Subsequent
Offering") of up to 23,200,000 new shares (the "Offer Shares") at a subscription
price per Offer Share of NOK 0.30 (the "Subscription Price"), which is equal to
the subscription price in the Private Placement. 

The Subsequent Offering will be resolved by the Company's board of directors
(the "Board") pursuant to a board authorization granted by the Company's
extraordinary general meeting on 2 April 2024. The Subsequent Offering will
raise gross proceeds of up to NOK 6,960,000. The net proceeds to the Company
from the offering will be used for general corporate purposes.

The Subsequent Offering is directed towards shareholders in the Company as of 15
February 2024, as registered in the Norwegian Central Securities Depository (the
"VPS") two trading days thereafter, on 19 February 2024 (the "Record Date") who
(i) did not have a pro-rata share of the Private Placement equal to or higher
than the minimum order and allocation in the Private Placement (3.1325% of the
shares outstanding in the Company), (ii) were not allocated shares in the
Private Placement, and (iii) are not resident in a jurisdiction where such
offering would be unlawful or would (other than Norway) require any prospectus,
filing, registration or similar action (the "Eligible Shareholders"). 

More information to be found in the PDF document