VGM: Initiating strategic process to ensure speed and scale in expediting global project pipeline realization

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.