NEWS

Reference is made to the earlier stock exchange announcements by Vow Green Metals AS ("VGM") (ticker VGM) regarding the strategic review announcement in April 2024, and later updates, including the announcement on the bridge financing on 18 February 2025 and the latest update in connection with VGM's publication of second half-year results for 2024 on 28 February 2025.

As stated in connection with the publication of the half-year results, the Company has been working towards a deadline for securing longer-term liquidity by May 2025, was based on certain liquidity projections and assumptions made by the Company in February 2025. These assumptions were, amongst other, based on then expected costs and cash runway and that the Company's NOK 5 million credit facility with SR-Bank would either be repaid by, or extended from, mid-April 2025. An extension would need to be contingent on a long-term solution for VGM, which is currently not concluded.

Due to extraordinary costs incurred by the Company after the 28 February 2025 update, VGM's cash runway is shorter than previously announced. The Company is working with solutions to secure longer-term financing, and is pleased that it has promising and mature dialogues for a strategic transaction, which it is working to conclude by the end of next week. However, although promising, no final agreement has been concluded to date and the Company does not have funding beyond 14 April 2025.

ENDS

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