Kyoto Group AS – Registration of share capital increase

Oslo, Norway 5 July 2023

Reference is made to the stock exchange announcement made by Kyoto Group AS (the "Company") on 30 June 2023, where the Company announced that its annual general meeting (the "AGM") had approved the share capital increase pertaining to the directed share issue of 4,620,646 new shares (the "New Shares"). The share capital increase pertaining to the New Shares has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).

Following the registration, the Company's registered share capital is NOK 498,328.77 divided into 16,610,959 shares, each with a nominal value of NOK 0.03.

The increase of the share capital follows suit from the investments subsequent to the strategic alliance with Europe’s largest electricity utility Iberdrola and the world-leading specialist in thermal energy management Spirax-Sarco Engineering.