Reference is made to the announcement by Vow Green Metals AS ("VGM") on 17 April
2025 where it was stated that the proceeds from VGM's sale of shares to Obligo
are expected to fulfill the company's cash runway for the next 12 months.

As part of VGM's negotiations with DNB Bank ASA and Eksfin as lender and
guarantor under VGM Operatør's NOK 344 million facility, VGM will, subject to
closing of the Obligo transaction, undertake a restricted cash obligation of NOK
35 million as security for VGM Operatør and its Hønefoss project. This is caused
by an increase in the projected costs for the Hønefoss project in the amount of
approximately NOK 20 million. Total estimated CAPEX for the scope for phase I at
the Hønefoss project has increased from NOK 541 million to NOK 558 million.  

The restricted cash obligation and cost increase mean that the proceeds from the
Obligo transaction will provide the Company with cash runway until September
2025, which may be extended to December 2025 if VGM's partners in VGM Operatør
undertake additional NOK 10 million of the restricted cash obligation. 

For further questions, please contact:
Jan Halvard Aas Møller, CFO 
Vow Green Metals AS 
Tel: + 47 901 15 375 
Email: jan.moller@vowgreenmetals.com 

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

About VGM:
Vow Green Metals' strategy is to be a leading producer of biocarbon and other
carbon-neutral products that enable the green transition in hard-to-abate
industries. We are on a mission to accelerate the world's transition to
renewable materials by offering green alternatives to replace fossil-reduction
agents in the metallurgical industry. The core of our business is to build, own
and operate biocarbon production plants using state-of-the-art pyrolysis
technology to turn biomass and biomass waste streams into our core product,
biocarbon. Our biocarbon production process also creates other valuable products
like bio-oil and bioenergy. With our standardized solutions, unique access to
proprietary technology, and a growing global pipeline of projects, we are
upholding our first-mover position in a growing market where speed and scale
will be determining factors. Vow Green Metals is building a new biocarbon
industry on the shoulders of its largest shareholder and technology partner, Vow
ASA, which provides access to competence and capabilities acquired through
decades of industrial innovation. Read more: www.vowgreenmetals.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Mathias Nilsen Reierth, Director of Corporate
Affairs and Commercial on 2 May 2025 at 18:40 CEST.