Oslo, 22 March 2022

With reference to the company's stock market announcement dated November 4,
2021, the soil survey and stability assessments at Follum, where the company's
first biocarbon facility will be built, has been concluded. The report indicates
that considerable measures are required to secure the area. Following this, the
Board of Directors have decided to continue the evaluation of the alternative
locations at the Follum site. 

Studies of the alternatives are in process to determine the best location for
the plant. This may impact the overall project, but it may also result in a more
optimal industrial integration at the site. An update on the alternatives is
expected in 2Q 2022.

As previously informed, Vow ASA is currently building the process equipment for
the plant for delivery this year, and an agreement is in place with Lindum for
feedstock deliveries. Letters of intent are in place with Vardar and Elkem
respectively, for delivery of carbon neutral energy and advanced BioCarbon from
the plant. The ongoing optimisation of the plant does not cause any changes to
these agreements.

For more information, please contact

Cecilie Jonassen, CEO, Vow Green Metals AS
Tel: + 47 954 20 126
Email: cecilie.jonassen@vowgreenmetals.com

About Vow Green Metals
Vow Green Metals AS builds, owns, and operates plants that produce high value
biocarbon for the metallurgical industry.

In order to decarbonise the metallurgical industry, there is a growing global
interest in large scale pyrolysis plants, motivated by both environmentally
friendly treatment methods for waste and for the production of biocarbon.
Vow Green Metals AS aims to provide solutions for the metallurgical industry and
to meet the growing demand for industry decarbonising.

This information is subject to the disclosure requirements pursuant to the
Continuing Obligations for Issuers of Shares in accordance with Oslo Rule Book
II - Issuer Rules.