18 January 2024: Reference is made to the stock exchange announcement made by
Quantafuel AS (the "Company") earlier today regarding the resolution by the
Company's extraordinary general meeting to increase the share capital by
issuance of new shares to Planets UK Bidco Limited ("Planets UK"), by conversion
of loans outstanding under the term loan facility between the Company and
Planets UK. 

Planets UK, a close associate of Kevin Bradshaw (chair) and Omar Shafi Khan
(member) of the board of directors of the Company, has today subscribed for
137,154,510 new shares in the Company at a price of NOK 4.09 per share. Please
refer to the enclosed form for further details about the transaction.

Following registration of the share capital increase with the Norwegian Register
of Business Enterprises, Planets UK will, directly and indirectly through its
wholly-owned subsidiary, Harald Norway Bidco AS, own 275,247,046 shares in the
Company, equal to approximately 90.85% of the Company's outstanding shares and
votes. Consequently, Planets UK will obtain an ownership of more than 90% of the
shares and votes and is expected to resolve a compulsory acquisition of the
remaining shares in the Company, cf. section 4-26 of the Norwegian Private
Limited Liability Companies Act. Reference is further made to the resolution by
the Company's extraordinary general meeting on 12 May 2023 to apply for a
delisting of the Company's shares from Euronext Growth Oslo. Further
announcements will be made in due course.

* * * 

This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3, section 4.3.1 of the Euronext Growth Markets
Rule Book Part I and section 5-12 of the Norwegian Securities Trading Act.