Kyoto Group AS: Notification of trade by primary insiders and their close associates

Oslo, Norway, 10 January 2023 - Reference is made to the stock exchange announcement by Kyoto Group AS (the "Company") published on 10 January 2023 regarding the successfully placed private placement of new shares in the Company at a price per share of NOK 17.50, raising gross proceeds of approximately NOK 60 million (the "Private Placement").

The following persons discharging managerial responsibilities and their close associates were allocated shares in the Private Placement:

• Valinor AS, a close associate of the board member Pål Selboe Valseth, was allocated a total of 488,600 shares
• Hydro Energi Invest AS, a close associate of the board member Ivar Valstad, was allocated a total of 285,714 shares
• Bjarke Buchbjerg, Chief Technology Officer of the Company, was allocated a total of 1,428 shares
• Henrik Holck-Clausen, Chief People & Culture Officer of the Company, was allocated a total of 4,285 shares
• Tim de Haas, Chief Commercial Officer of the Company, was allocated a total of 5,714 shares
• Agnieszka Sledz, Chief Project Officer of the Company, was allocated a total of 17,142 shares

Please see the notification form for the transactions attached to this release.