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

Oslo, 8 October 2024: Reference is made to the stock exchange announcement published by Vow ASA (the "Company") on 27 September 2024, regarding the contemplated fully underwritten rights issue of shares in the Company raising gross proceeds of NOK 250,000,000 (the "Rights Issue"). Key information relating to the Rights Issue based on the current plans is set out below.

Date on which the terms and conditions of the rights issue were announced: 27 September and 8 October 2024.

Last day including right: 20 November 2024 (assuming normal T+2 settlement).

Ex-date: 21 November 2024 (assuming normal T+2 settlement).

Record Date: 22 November 2024.

Date of approval: 19 November 2024.

Maximum number of new shares: To be announced when determined.

Subscription price: The subscription price in the Rights Issue will be set based on the theoretical share price exclusive of the subscription rights (TERP) based on the volume-weighted average price (VWAP) of the Company’s shares on Oslo Stock Exchange during the last three trading days of the extraordinary general meeting (of which the date of the extraordinary general meeting will be the last day), expected to be held on or around 19 November 2024 (the "EGM"), less a discount of approximately 30 per cent. The final subscription price will be announced when determined.

Ratio preferential rights: To be announced when the final number of new shares is determined.

Subscription ratio: 1:1 (number of new shares per subscription right).

Managers: DNB Markets, a part of DNB Bank ASA and Pareto Securities AS as joint Global Coordinators & Bookrunners and SpareBank 1 Markets AS as Co-manager.

Will the rights be listed yes/no: Yes, the subscription rights are expected to be listed and the ticker code will be announced when determined.

ISIN for the preferential rights: To be announced when determined.

Other information: Reference is made to the stock exchange announcement published by the Company on 27 September 2024, for further information regarding the Rights Issue. The Rights Issue is subject to (i) approval by the EGM and (ii) publication of a prospectus for offering and listing of the new shares as approved by the Norwegian Financial Supervisory Authority.

Notice of the EGM is expected to be sent to the shareholders on or about 29 October 2024 .

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

For more information, please contact:

Henrik Badin, CEO, Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com

Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: tina.tonnessen@vowasa.com

About Vow ASA

Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company's world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries. Advanced technologies and solutions from Vow enable industry decarbonisation and material recycling. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven. The company is a cruise market leader in wastewater purification and valorisation of waste. It also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda. Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).