Vow ASA: Awarding of options according to the 2023 incentive program

On 22 May 2023, the general meeting of Vow ASA resolved an option-based incentive program for leading employees.

The number of options granted under the 2023 program will not exceed 2.5% (2 871 022 shares) of the total current outstanding shares in the company. Up to a total of 2 590 000 shares will be awarded according to the option program.

The Board of Directors in Vow ASA has today issued 2 590 000 share options to 53 employees, in accordance with the 2023 program. The strike price for the options is NOK 15.36 (18.9% premium compared to closing share price as of 29 June), equal to the year-to-date average closing share price of Vow ASA prior to the award date.

The options will vest over 3 years, with 1/3 after every anniversary, as described in the 2023 program resolved on 22 May 2023. Of the 2 590 000 awarded share options, the following share options were granted to primary insiders:

1) Including shares owned by related parties / "nærstående"

Each option gives the right to subscribe for one share in Vow ASA. 

This is the first option grant under the 2023 program. From the 2019 option program, a total of 590 000 options are still outstanding with strike prices in the range of NOK 21.00-33.79.

For further information, please contact:

Tina Tønnessen, CFO, Vow ASA

Tel: +47 40 63 95 56

Email: tina.tonnessen@vowasa.com

About Vow

Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company's world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.

Advanced technologies and solutions from Vow enable industry decarbonisation and material recycling. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven.

The company is a cruise market leader in wastewater purification and valorisation of waste. It also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda.

Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.