NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR THE UNITED STATES OR
ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD
BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN. 

Oslo, 16 May 2025 

Reference is made to the stock exchange announcement by Energeia AS (the
"Company") on 30 April 2025 where it was announced that the Board of Directors
had proposed a private placement of 500,000,000 new shares in the Company
directed towards Eidsiva Vekst AS ("Eidsiva") and Obligo Nordic Climate Impact
Fund AB ("Obligo") (the "Private Placement") at a subscription price of NOK 0.02
per new share (the "Subscription Price"), raising gross proceeds of NOK 10
million in order to secure continued operations up until August 2025. The
Company simultaneously sent notice to an extraordinary general meeting in the
Company to be held on 16 May 2025 (the "EGM") to approve the Private Placement,
as well as board authorisation to increase the share capital, the Share Buy-back
(as defined below) and the delisting of the Company's shares from Euronext
Growth Oslo.

The EGM has today, in accordance with the proposals set out in the notice,
resolved to increase the Company's share capital by NOK 10,000,000 by the
issuance of 500,000,000 new shares in the Private Placement, to carry out a
share buy-back offer directed towards the Company's shareholders, except Obligo
and Eidsiva, (the "Minority Shareholders") at the same price as the Subscription
Price (the "Share Buy-back") and to apply for delisting of the Company's shares
from trading on Euronext Growth Oslo. 

The EGM also granted the Board of Directors with authorization to increase the
share capital to be used i.a. in connection with a contemplated subsequent
offering directed towards shareholders who were not invited to participate in
the Private Placement and who do not accept the Share buy-back offer (the
"Subsequent Offering"). A copy of the minutes are attached hereto. 

The Company has simultaneously with the publication of this announcement, sent
an application for delisting of its shares from Euronext Growth Oslo to Euronext
Oslo Børs.

The Share Buy-back is conditional upon the board authorization to acquire the
Company's own shares, as approved by the EGM, being registered with the Register
of Business Enterprises, expected to take place on or about 20 May 2025. The
Company is aiming to have the acceptance period commence shortly thereafter,
allowing for a two-weeks acceptance period. The Company will provide the market
and its shareholders with more information regarding the Share Buy-back in due
course.

Following completion of the Share Buy-back and subject to registration of the
board authorization to increase the Company's share capital, the Company is
planning to carry out the Subsequent Offering, allowing the Minority
Shareholders to uphold their pro-rata share of the Company's share capital,
securing equal treatment. 


For further information, please contact:

Jarl Egil Markussen, CEO, e-mail: jarl@energeia.no and tel: +47 480 23 214


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