NEWS

Vow Green Metals AS (the "Company") has initiated a strategic process to raise capital to accelerate the realization of the Company's project portfolio and global project pipeline. Vow Green Metals has engaged Pareto Securities ("Pareto") to assist in evaluating strategic and financial options, including potential partnerships, in relation to speeding up the realization of the Company's strategy to build a new green biobased industry. The strategic process opens for investments in specific projects in SPV structures to enable the realization of large-scale biocarbon production facilities, as well as in the listed parent company, Vow Green Metals AS, to strengthen the Company's financial position and ability to accelerate the development of FID-ready projects.

Reference is made to the Company's stock exchange announcement dated 5 May 2023 regarding an update on strategic funding alternatives. The Company has since then matured its project pipeline, entered a long-term supply agreement with Elkem and established several key strategic and financial partnerships. Vow Green Metals now has several industrial projects maturing towards FID representing near-term investment opportunities for strategic and financial partners. The interest in the Company's carbon-neutral products has significantly increased. Most notably the metallurgical industry demands large-scale volumes to enable the industry to reach their targets to transition from fossil to biobased production of metals.

Vow Green Metals has the potential to realize projects with a combined production capacity of 200,000 tons by 2028, exceeding 500,000 tons by 2030, which calls for vast sourcing of capital. The Company plans to bundle its portfolio of large-scale biocarbon production plants and fund separate structures together with relevant strategic, financial, and industrial partners. In addition to originating, developing and co-owning projects together with partners, Vow Green Metals will generate revenues by serving as a competence hub for the SPVs, developing its products and related commercial markets including securing offtake from the respective production plants in the structure. The Company will also provide shared services and unique access to state-of-the-art technology and IP enabling the portfolios to benefit from increasingly efficient operations as the Company's standardization efforts are progressing.

Please find an updated company presentation attached to this release. No assurances can be given as to the outcome or timing of the above-mentioned process. ENDS

Company presentation April 2024

For further information, please contact:

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

Mathias Nilsen Reierth, Director of Corporate Affairs and Commercial, Vow Green Metals AS. Tel: + 47 988 05 724 Email: mathias.reierth@vowgreenmetals.com

About Vow Green Metals

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 main owner and technology partner, Vow ASA, which provides access to competence and capabilities acquired through decades of industrial innovation.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Mathias Nilsen Reierth, Director of Corporate Affairs and Commercial, Vow Green Metals AS, on 8 April 2024 at CEST 08:45.