Oslo, August 18th 2023: Volue ASA (OSE: VOLUE) reported operating revenues of
NOK 375 million in the second quarter of 2023, an increase 26 percent from the
second quarter of 2022. Consequently, Volue experienced its strongest growth
since listing in the second quarter of 2023. Adjusted EBITDA* was NOK 63
million, with an adjusted EBITDA margin of 17 percent.

The transformation towards recurring revenues and Software as a Service (SaaS)
continues. SaaS revenues were NOK 98 million in the quarter, an increase of 43
percent compared to the second quarter of 2022. Recurring revenue constituted 63
percent of total revenues and reached NOK 236 million in the quarter, an
increase of 25 percent from the second quarter of 2022. This makes the recurring
revenue growth in the quarter Volue's highest since listing.

Volue achieves sustained growth through key customer acquisitions, highlighted
by strategic wins in the quarter. Notably, the company expands its presence in
Japan reaching nineteen paying customers, secures additional contracts for our
Insight business line, and clinches a significant Trading Solution deal in
Europe. Volue is also pleased to see Smart Power being adopted by new customers
as well as extended usage from existing customers.

"We are pleased to once again hold true to our promise of strong growth as we
are reaping the benefits of the investments we've made in our platform since
listing. The demand backdrop is also highly supportive. Intermittent renewables
are being brought online at a breath-taking speed. This means more volatility,
more transactions and new market entrants, continuously increasing the demand
for Volue's energy software offering." says Trond Straume, CEO of Volue.

In May, Volue announced the acquisition of Enerim Oy's Energy Market Services
division, a market leader in portfolio management of intermittent renewables
with 24/7 operation.

"This acquisition ties perfectly with Volue Market Services and Volue Trading
Advisory to form Volue Energy Market Services, providing Portfolio Management as
a Service to a growing market, including small to medium wind, solar and battery
players. Combined, we will be the Nordic market leader, positioned to be a
leader in Europe by 2030," Straume says.

"Our ambition is to become the number one software and software-backed service
provider to the European energy system by 2030. In order to reach this goal,
Volue will be focused, both organically and structurally. In the first half of
2023 we initiated a strategic review of our ownership in Industrial IoT, and we
have divested our fire and chimney product line at very attractive multiples.
These structural actions illustrate our dedication to the 2030 goal, and
contributes to providing us with bandwidth which will be used at the correct
organic growth initiatives", Straume continues.

"Following the Enerim transaction, Volue Energy Market Services grows to a size
where a new view on our offerings to the European energy system is warranted:
Energy Software, Energy Market Services and Power Grid Software. The common
foundation for these three dimensions is the Volue SaaS platform and our Insight
offering, which delivers analysis and forecasting services for all participants
in the energy system. On this foundation, we are building scalable SaaS
offerings directed at power producers of all sizes and grid operators across
Europe. Our growth since listing, which is ahead of market expectations at the
IPO, brings proof to Volue's ability to execute on market opportunities. We will
leverage this capability to excel on our ongoing journey, ensuring that we seize
the opportunity to capture our rapidly expanding end-markets," Straume
concludes. 


The long-term ambition of NOK 2 billion in revenues, including M&A, by 2025 is
maintained. The long-term target of 15 percent annual organic revenue growth is
also maintained. Volue sees year-by-year increases of adjusted EBITDA margin,
cash conversion, share of ARR and SaaS revenues. 

For H2 2023, Volue has the following priorities and ambitions: 
o	Position Volue to deliver long-term growth of 15 percent
o	Continue to grow scalable ARR business in line with long-term targets
o	Focus on profitability initiatives to improve profitability and cash
conversion
o	Successfully integrate Enerim Market Services division into Volue and continue
to explore structural growth opportunities

Webcast and presentation 
For further details, please see the attached presentation.

Trond Straume, CEO, and Arnstein Kjesbu, CFO, will present the results today
through a webcast and Q&A session hosted and moderated by Nordea Markets at
11:30 am CEST. For registration, please send an e-mail to Stine Kvamme Greve at
stine.kvamme.pedersen@nordea.com.
In a video presentation, CEO Trond Straume sums up the results and highlights.
Please find the video here: https://vimeo.com/855310814

*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as part of the APM section of the
second quarter 2023 presentation on page 36.

For additional information, please contact:
Arnstein Kjesbu, Chief Financial Officer, Volue +47 970 47 699,
Arnstein.kjesbu@volue.com
Jacob Zeno Clausen Krøvel, Head of IR, Volue, +47 484 03 225,
Jacob.krovel@volue.com

About Volue | www.volue.com Volue is a market leader in technologies and
services that power the green transition. Based on 50 years of experience, Volue
provides innovative solutions, systems and insights to industries critical to
society. Over 820 employees work with around 2,700 customers across energy,
power grid, water and infrastructure projects that ensure a sustainable,
flexible and reliable future. The company is headquartered in Oslo, Norway and
active in 40+ countries. Visit volue.com for more information.

This stock exchange announcement was published by Jacob Zeno Clausen Krøvel,
Head of Investor Relations, Volue ASA, on August 18th 2023 at 07:00 am CEST. 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.