An Extraordinary General Meeting in Minesto AB (publ) was held today, 3 October 2025, at MAQS Advokatbyrå’s premises at Masthamnsgatan 13 in Gothenburg. Chairperson of the General Meeting was lawyer Eric Ehrencrona from MAQS Advokatbyrå.

The English text is an uncertified translation of the Swedish version and in the event of any inconsistency between the English text and the Swedish text, the Swedish text shall prevail.

The shareholders of Minesto AB (publ), reg. no. 556719-4914 (“Minesto” or the “Company”), are hereby given notice to attend the Extraordinary General Meeting to be held on Friday, 3 October 2025 at 1.00 p.m. at MAQS Advokatbyrå’s premises on Masthamnsgatan 13 in Gothenburg, Sweden.

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

The Board of Directors of Minesto AB (publ) (”Minesto” or the ”Company”) has today, conditional on the approval of an extraordinary general meeting, resolved on a rights issue of shares of approximately SEK 152.4 million (the ”Rights Issue”). The subscription price has been determined to SEK 1.85 per share. Those who on the record date 8 October 2025 are registered as shareholders in Minesto will receive two (2) subscription rights for each share held. Five (5) subscription rights will entitle to subscription for one (1) new share in the Company. Minesto has received guarantee commitments subject to customary conditions which, in aggregate, amount to SEK 99.0 million, corresponding to approximately 65.0 percent of the Rights Issue. The Company has also received subscription intentions from all shareholding members of the Board of Directors and senior management, including the Company’s CEO Martin Edlund, consisting of a verbally expressed, non-binding, intention to subscribe for their respective pro rata share of the Rights Issue, in total amounting to approximately SEK 0.2 million, corresponding to approximately 0.1 percent of the Rights Issue.

Notice to the extraordinary general meeting for resolution on approval of the Rights Issue, which will be held on 3 October 2025, will be announced through a separate press release.

Minesto’s CEO Dr Martin Edlund presents today at Aktiedagarna i Stockholm by Aktiespararna, 16 September 2025  

Minesto invites investors and the public with an interest in technology, energy systems and climate innovations to a unique opportunity to experience firsthand the tidal energy kite Dragon 4 “Íðunn” as she is brought home for a break from production duty at the company’s demonstration site in the North Atlantic where it produces electricity to the Faroe Islands grid. The event will take place at Minesto workshop in Gothenburg, on 8 October 2025, 17.00-19.00.

Together with project partners Sev, Capture Energy and IVL, Minesto completed a planning and project set-up workshop for the 25 MSEK Microgrid Project awarded by Swedish Energy Agency. In parallel with the project, Minesto has added an integration of two local end-user applications of tidal energy in the Faroe Islands to strengthen customer involvement.

Leading ocean energy developer Minesto appoints new CFO, Alexander Jancke, starting October 2025.

CEO Dr Martin Edlund: “As the leading pioneer in Ocean Renewable Energy, Minesto moves on with more determination and positive spirit than ever to deliver renewable tidal energy to the world”

On Thursday August 14, Minesto, leading ocean energy developer, will publish their Half-Year Report 1 January – 30 June 2025. Dr Martin Edlund, CEO, will present and share key updates from Minesto, followed by a Q&A session.

Minesto, leading ocean energy developer, announces that a reorganization over the last year has now been completed, resulting in readiness to deliver commercial projects and reduced fixed costs. There are several ingredients in the reshaping of the organization, including relocation geographically, management team set-up and product development focus. The completed reorganization has resulted in a reduction of fixed costs by approximately 35%.

Minesto, leading ocean energy developer, is heading a consortium of four that has been awarded a total of 25 MSEK grant funding from Swedish Energy Agency to build a complete microgrid installation in the Faroe Islands. Minesto collaborates with microgrid technology provider Capture Energy, Faroese utility company Sev and IVL Swedish Environmental Research Institute to demonstrate a unique tidal-based microgrid solution that provides baseload power.

Minesto AB (publ) (“Minesto” or “the Company”) has raised a loan financing of SEK 22 million, from Fenja Capital, intended to be used as working capital in the Company’s ongoing operations and business development to clarify immediate market opportunities.

Minesto, leading ocean energy developer, today announces that its Dragon 12 tidal energy system (Luna), installed in Vestmannasund, Faroe Islands, has met a major production performance milestone: the longer tether enables a 25% increase of power performance. This strengthens the company’s path toward commercial-scale deployment of its unique tidal kite technology.

Recording of CEO Dr Martin Edlund’s speech to the Annual General Meeting 2025 of Minesto AB, 22nd of May 2025.

The Annual General Meeting of Minesto AB was held today, 22 May 2025, at Hotel Riverton at Badhusgatan 26 in Gothenburg. Chairman of the Annual General Meeting (the “AGM”) was Eric Ehrencrona from MAQS Advokatbyrå.

Minesto, leading ocean energy developer, continues operation and testing activities in Vestmanna, Faroe Islands. The Dragon 12 megawatt tidal kite “Luna” is in electricity production, following an upgrade period most prominently including a longer tether.

Minesto, leading technology developer in ocean energy, joins the World Expo 2025 in Osaka, Japan, as part of the Swedish official delegation and partner to the Nordic Pavilion. Today 14 May, Sweden celebrated its national day at World Expo, the delegation led by HM King Carl XVI Gustaf. Minesto CEO Dr Martin Edlund was invited to join the visit and ceremony as part of the Swedish official delegation.

Leading ocean energy developer, Minesto, features in a new internationally broadcast documentary series ‘Engineering Tomorrow’. Minesto’s pioneering underwater kite technology is showcased in the ‘Ocean Power’ episode, selected as one of a few tidal energy technologies to be showcased.

CEO Dr Martin Edlund: ”Record public exposure and solid progress”

On April 30, Minesto, leading ocean energy developer, will publish their Interim Management Statement 1 January – 31 March 2025. Dr Martin Edlund, CEO, and Gustav Kvibling, CFO, will present details of the report in a webinar and share key updates from Minesto, followed by a Q&A session.

Minesto’s Annual Report in Swedish for the financial year 2024 is now available on the company’s website.

The shareholders of Minesto AB (publ), reg. no. 556719-4914, (”Minesto” or the ”Company”) are hereby given notice to attend the Annual General Meeting on Thursday 22 May 2025 at 10.00 a.m. at Hotel Riverton, Stora Badhusgatan 26 in Gothenburg. Registration for the general meeting begins at 9.30 a.m.

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

Minesto AB (publ) (”Minesto” or the ”Company”) today announces the outcome of the exercise of warrants of series TO4, which were issued in connection with the Company’s rights issue of units during the second quarter of 2024. In total, 9,906,055 warrants of series TO4 were exercised, corresponding to approximately 89.0 percent of the total number of outstanding warrants of series TO4, for subscription of 9,906,055 shares at a subscription price of SEK 1.54 per share. Guarantee commitments of 1,221,727 shares, corresponding to approximately 11.0 percent of the outstanding warrants of series TO4, will thus be utilized. Thus, the board of directors has resolved on a directed share issue of 1,221,727 new shares (the ”Directed Issue”) to the external investor Philip Ohlsson (the ”Underwriter”). Minesto will receive approximately SEK 17.1 million before issuing costs through the exercise of the warrants of series TO4. Furthermore, the board of directors has resolved on a set-off issue of 667,666 new shares to the Underwriter to pay the guarantee compensation (the ”Compensation Issue” and together with the Directed Issue, the ”Share Issues”).

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

Today, 28 March 2025, is the last day of trading with the warrants of series TO4 in Minesto AB (publ) (“Minesto” or the “Company”). The subscription period for the warrants of series TO4 runs up to and including 1 April 2025. Each warrant of series TO4 gives the owner the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO4 has been determined to SEK 1.54 per share. Please observe that certain nominees might close their application earlier than on 1 April 2025.

Minesto, leading developer of ocean energy is selected by renowned bearing manufacturer SKF to be part of a large-scale international marketing brand campaign. The campaign “The Faroe Islands Space Program – a space program that never leaves earth” highlights Minesto’s innovative and lightweight yet powerful tidal energy kites; and the opportunity to harness “moon energy”, making the most of the Earth’s resources in a sustainable approach. 

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

Minesto AB (publ) (“Minesto” or the “Company”) announces that the Company today, 24 March 2025, has received a guarantee commitment of approximately 10.3 MSEK from an external investor regarding the utilization of warrants of series TO4. The guarantee commitment is a so-called top guarantee and can be utilized in the event that less than 100 percent of the warrants of series TO4 are exercised for subscription of shares in the Company.

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

Minesto AB (publ) (“Minesto” or the “Company”) completed a rights issue of units during the second quarter of 2024. One (1) unit consisted of three (3) newly issued shares and one (1) warrant of series TO4. Each warrant of series TO4 gives the owner the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO4 is to be determined to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Growth Market during the measurement period, from 3 March 2025 up to and including 14 March 2025, however not lower than the share’s quota value (SEK 0.05) and not higher than SEK 4.5 per share. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 2.20, therefore, the exercise price for the warrants of series TO4 has been determined to SEK 1.54. The subscription period for warrants of series TO4 runs from 18 March 2025 up to and including 1 April 2025.

Minesto, leading ocean energy developer, has been selected to participate in GIA (Global Innovation Accelerator). The Global Innovations Accelerator Programme is initiated and funded by the Swedish Energy Agency, and run together with partner Business Sweden. Minesto’s focus will be on strengthening business development in Asia.

How can innovation support reaching global climate goals? Minesto met with Västra Hamnen Corporate Finance to discuss Minesto’s unique technology and our role as the world leading tech developer in ocean energy.

CEO Dr Martin Edlund: “Minesto has now demonstrated competitive renewable energy production from an untapped natural resource based on a truly novel and proprietary innovation.”