NEWS

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Reference is made to the stock exchange announcement by Vow Green Metals AS (the "Company" or "VGM") (ticker: VGM) on 9 April 2025 where VGM provided an update on the Company's financial situation.

SpareBank 1 Sør-Norge has today agreed to extend the Company's NOK 5 million credit facility until 2 June 2025. As a result of the extension, the Company's existing cash runway is extended until the end of April 2025.

The Company will need additional liquidity in order to secure operations beyond end of April 2025. The Company has a loan facility of NOK 15 million to DNB which falls due 15 May 2025, a loan from Vow ASA of NOK 11 million which falls due on 30 June 2025, as well as certain project costs. Further, based on the current business plan, the Company has a monthly cash burn of approx. NOK 5 million. Depending on the Company's development pace, with the current run rate, the Company expects that it will need minimum NOK 85 million to NOK 105 million in the next 12 months.

Furthermore, it will seek equity financing in its subsidiary, VGM Operatør Holding AS, of about NOK 100 million in order to finance the next phase of the Hønefoss project.

Dialogues regarding solutions to secure short and longer-term financing continues.

For further information, 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