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.

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

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.

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.

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.”

CEO Dr Martin Edlund: “During third quarter we have completed the business case for project investment in Hestfjord Phase 1 (Faroe Islands) based on Dragon 12 test results. We have also hosted numerous visits from both local and international partners at our facility in Vestmanna.”.

CEO Dr Martin Edlund: “Minesto’s second quarter has been characterised by business development driven by the success of Dragon 12” and “We have an ambitious autumn and winter ahead of us”.

The Annual General Meeting of Minesto AB was held today, May 22, 2024, 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, today announces that for three months, since its initial installation in February 2024, the tidal kite Dragon 12 has been successfully grid connected and delivers as expected at the site in Vestmanna. In addition, for the first time, an array of tidal kites is in operation – the 1.2 MW D12 and one 100kW D4, adding valuable production data for array build-out. The data being generated underlines commercial readiness of Dragon Class systems and the continued testing supports both critical sales activities and preparations for product delivery.

CEO Dr Martin Edlund:” Minesto’s first quarter has been significant and lays the foundation for the company’s path towards buildout of commercial arrays. We now have full focus on business development to secure commercial rollout”.

The shareholders of Minesto AB (publ), reg. no. 556719-4914 (“Minesto” or the ”Company”), are hereby given notice to attend the Annual General Meeting to be held on Wednesday 22 May 2024 at 10 a.m. at Hotel Riverton at the address Stora Badhusgatan 26 in Gothenburg. The entrance opens and the registration starts 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.

On 2 April 2024, Minesto AB (publ) (“Minesto” or the “Company”) announced the preliminary outcome of the Company’s rights issue of up to 13,394,391 units, consisting of three (3) shares and one (1) warrant of series TO4 in the Company each (the “Rights Issue”). The Company has received the final outcome of the Rights Issue, which is identical to the preliminary results, which concludes that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights. Additionally, applications for subscription of 288,226 units, corresponding to approximately 2.2 percent of the Rights Issue, have been received for subscription of units without the support of unit rights. In aggregate, the subscriptions with the support of unit rights and the applications for subscription without the support of unit rights correspond to approximately 50.9 percent of the Rights Issue. Hence, guarantee commitments of 4,312,385 units, corresponding to approximately 32.2 percent of the Rights Issue, will be utilized. The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue. Upon full exercise of all the warrants of series TO4 the Company is expected to raise up to an additional approximately SEK 50.1 million before deduction of cost related to the exercise of the warrants.

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 the preliminary outcome for the Company’s rights issue of up to 13,394,391 units, consisting of three (3) shares and one (1) warrant of series TO4 in the Company each (the “Rights Issue”), for which the subscription period ended today, 2 April 2024. The preliminary outcome indicates that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights. Additionally, applications for subscription of 288,226 units without the support of unit rights, corresponding to approximately 2.2 percent of the Rights Issue, have been received. In aggregate, the subscriptions with the support of unit rights and the applications for subscription of units without the support of unit rights correspond to approximately 50.9 percent of the Rights Issue. Hence, guarantee commitments of preliminary 4,312,385 units, corresponding to approximately 32.2 percent of the Rights Issue, will be utilized. The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue. Upon full exercise of all the warrants of series TO4 the Company is expected to raise up to an additional approximately SEK 50.1 million before deduction of cost related to the exercise of the warrants.

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.

On 26 February 2024, Minesto AB (publ) (”Minesto” or the ”Company”) announced that the Board of Directors, conditional on the subsequent approval of an extraordinary general meeting, had resolved on a rights issue of units, consisting of new shares and warrants, of approximately SEK 120.5 million (the ”Rights Issue”). The extraordinary general meeting on 14 March 2024 approved the Rights Issue, which the Company announced the same day. Today, Minesto announces that the prospectus relating to the Rights Issue (the ”Prospectus”) has been approved and registered by the Swedish Financial Supervisory Authority (the ”SFSA”) and has been made available on Minesto’s webpage, www.minesto.com, together with other information related to the Rights Issue. The Prospectus will also be made available on Pareto Securities’ webpage, www.paretosec.com, and at the SFSA’s webpage, www.fi.se/en/our-registers/prospektregistret. The Prospectus is only available in Swedish.

Minesto’s Annual Report in Swedish for the financial year 2023 is now available on the company’s website.

An Extraordinary General Meeting in Minesto AB was held today, March 14, 2024, at MAQS Advokatbyrås premises at Östra Hamngatan 24 in Gothenburg. Chairman of the General Meeting was lawyer Eric Ehrencrona from MAQS Advokatbyrå.

The Board of Directors in Minesto AB (publ) has resolved to convene the Extraordinary General Meeting on Thursday, 14 March 2024, instead of Wednesday, 13 March 2024. The reason for the new date is to ensure that the General Meeting can be conducted in a formally correct manner. Only the date for the General Meeting, the last day for registration, and relevant record dates have been updated, the notice is otherwise unchanged. The updated notice can be found below. The updated notice is also published on the company’s website and replaces the previously published version.

CEO Dr Martin Edlund: ”Historic milestone reached – Dragon 12 energy production to the grid paves the way for buildout of commercial arrays”.

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 Wednesday, 13 March 2024 at 1:00 p.m. at MAQS Advokatbyrå’s premises on Östra Hamngatan 24 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 units, consisting of new shares and warrants, of approximately SEK 120.5 million (the ”Rights Issue”). The subscription price has been determined to SEK 9.0 per unit, corresponding to SEK 3.0 per share (the warrants are issued free of charge). Those who on the record date 15 March 2024 are registered as shareholders in Minesto will receive one (1) unit right for each share held. Twelve (12) unit rights will entitle to subscription for one (1) unit, consisting of three (3) newly issued shares and one (1) new warrant of series TO4. The Company has received subscription undertakings from existing shareholders and senior management, which in total amount to approximately SEK 10.2 million, corresponding to approximately 8.4 percent of the Rights Issue. The Company has also received guarantee commitments subject to customary conditions which, in aggregate, amount to SEK 90.0 million, corresponding to approximately 74.7 percent of the Rights Issue. Consequently, the Rights Issue is covered by way of subscription undertakings and guarantee commitments to a total of SEK 100.2 million, corresponding to approximately 83.1 percent of the Rights Issue.

Notice to the extraordinary general meeting for resolution on approval of the Rights Issue, which will be held on 13 March 2024, will be announced through a separate press release. Due to the Rights Issue, the publishing of Minesto’s Year-End Report is brought forward to today, previously communicated date was 7 March 2024.

Minesto, leading ocean energy developer, today announces that a key milestone has been reached: The utility-scale tidal powerplant Dragon 12 – rated at 1.2 MW – has been successfully commissioned and, in the early morning of February 9, delivered its first electricity to the national grid in the Faroe Islands.

CEO Dr Martin Edlund:” Minesto has a unique competitiveness in the global energy transition”

CEO Dr Martin Edlund:” With the second quarter, we further accelerate our focus on driving large-scale, project-based sales of tidal energy arrays, where reference installations of our smaller power plant Dragon 4 are the key to long term business.”

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

The Annual General Meeting of Minesto AB was held today, June 7, 2023, 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, today announces the appointment of Gustav Kvibling as new Chief Financial Officer (CFO). After eight years in the role, Fredrik Ahlström will leave Minesto to pursue other career opportunities. Minesto is also expanding its Executive Team with new members and updated roles, to focus on moving towards large scale commercial buildout.

The shareholders of Minesto AB, reg. no. 556719-4914 (“Minesto” or the ”Company”), are hereby given notice to attend the Annual General Meeting to be held on Wednesday, 7 June 2023 at 3 p.m. at Hotel Riverton at the address Stora Badhusgatan 26 in Gothenburg. The entrance opens and the registration starts at 2.30 p.m.