Vow ASA: NOTIFICATION OF MAJOR HOLDINGS

Reference is made to the stock exchange announcement published by Vow ASA (the “Company”) on 10 December 2024 regarding the final results of the rights issue (the “Rights Issue”) (the “Announcement”).

DNB Bank ASA (“DNB”) has subscribed for its pro-rata share of the Rights Issue (i.e. 42,570,660 shares) without receiving any fee or other form of consideration.

As disclosed in the Announcement, a total of 9,910,929 new shares (the "Underwriting Commission Shares") will be delivered to the underwriters of the Rights Issue (the “Underwriters”) as settlement of their entitlement to commission pursuant to the subscription and underwriting agreements between the Company and the Underwriters.

Prior to the issuance of the Underwriting Commission Shares, DNB held 25.32% of the share capital and votes of the Company. Following completion of the Rights Issue and the issuance of the Underwriting Commission Shares, DNB holds approximately 24.59% of the share capital and votes of the Company.

Consequently, as a result of the issuance of the Underwriting Commission Shares, DNB has crossed below the 25% disclosure threshold.

This information is subject to the disclosure requirements set out in section 4 -2 of the Norwegian Securities Trading Act.