Environment

Minesto Announces Successfully Registered Rights Issue Prospectus by Swedish Authorities

GOTHENBURG, Sweden, March 15, 2024 /PRNewswire/-- Minesto AB, an established name in marine energy technology committed to reducing the global carbon footprint, declared that an extraordinary general meeting has endorsed its Rights Issue, as announced on February 26, 2024. The Rights Issue consists of units, comprising new shares and warrants, and is estimated to summon approximately SEK 120.5 million. The approval of the Rights Issue was confirmed by the extraordinary general meeting held on March 14, 2024, and was publicized promptly by Minesto the same day.

Today, the Swedish Financial Supervisory Authority ("SFSA") has officially approved and registered Minesto's prospectus related to the Rights Issue ("the Prospectus"). The Prospectus and other pertinent information connected to the Rights Issue are now accessible on Minesto's website, www.minesto.com, ensuring stakeholders can readily obtain important insights. Additionally, interested parties can find the Prospectus on Pareto Securities' webpage at www.paretosec.com and within the SFSA's prospektregistret at www.fi.se/en/our-registers/prospektregistret. The document has been prepared considering the local tongue, with the Prospectus available exclusively in Swedish.

Details Enclosed in the Prospectus

The Prospectus, meticulously prepared by the Minesto Board of Directors, comprises all necessary information concerning the Rights Issue. Following the standards set by Article 14 of Regulation (EU) 2017/1129 (the "Prospectus Regulation"), it has been crafted as a simplified prospectus appropriate for secondary issuances. With the SFSA's approval under Article 20 of the Prospectus Regulation, the Prospectus adheres to completeness, understandability, and coherence requisites. However, it is crucial to recognize that SFSA's approval does not translate into an endorsement of Minesto or the securities detailed in the Prospectus. SFSA does not affirm the factual information's precision or totality. Potential investors are thus urged to independently assess the suitability of investment in Minesto.

An Overview of the Rights Issue Schedule

The Rights Issue schedule is as follows:

| Milestone | Date | | --- | --- | | Record date for the Rights Issue | 15 March 2024 | | Trading in unit rights | 19 - 26 March 2024 | | Subscription period | 19 March - 2 April 2024 | | Trading in paid subscribed unit (BTU) | 19 March - 16 April 2024 | | Preliminary outcome of the Rights Issue | 2 April 2024 | | First day of trading in warrants of series TO4 | 22 April 2024 | | Subscription period for warrants of series TO4 | 18 March - 1 April 2025 |

Investors holding interest in the Rights Issue can thus mark these dates in their calendars to participate appropriately in the investment opportunity presented by Minesto.

Experienced Advisers at The Helm

Minesto has entrusted Pareto Securities AB with the Sole Manager and Bookrunner role. In matters regarding legal counsel, the Company is backed by MAQS Advokatbyrå, while Baker & McKenzie Advokatbyrå assists Pareto Securities. These associations ensure that every aspect of the Rights Issue is handled with the utmost expertise and adherence to the regulatory framework.

Communications and Contact Information

For those seeking further details or clarifications, Minesto's CEO, Martin Edlund, is available for contact at +46 (0) 31 29 00 60 or via email at martin.edlund@minesto.com. Cecilia Sernhage, the Chief Communications Officer, can be approached at +46 735 23 71 58 or cecilia.sernhage@minesto.com.

A Closer Look at Minesto's Environmental Mission

Minesto stands out as a leader in maritime energy technology with a clear objective to decrease the energy industry's carbon emissions globally by facilitating the generation of commercial power from oceanic sources. Since its founding in 2007, Minesto has expanded its operations beyond Sweden to the Faroe Islands, Wales, Northern Ireland, and Taiwan. Major stakeholders include BGA Invest and Corespring New Technology, and the company's shares, under the symbol MINEST, are actively traded on the Nasdaq First North Growth Market. G&W Fondkommission plays a critical role as Minesto's Certified Adviser.

To delve into Minesto's vision and achievements, visit www.minesto.com. For media personnel, a collection of press imagery and additional media resources is available through minesto.com/media. Moreover, for those interested in financial specifics, English translations of reports, prospectuses, and company particulars are accessible at www.minesto.com/investors.

Navigating Legal and Regulatory Information

Minesto underscores the importance of adhering to legal restrictions applicable in various jurisdictions. The dissemination of the press release may be confined by law in certain areas, and individuals in these regions are expected to comply with such legal mandates. Any actions taken contrary to these recommendations may amount to a violation of securities laws and regulations.

The press release is not to be misconstrued as a prospectus under the Prospectus Regulation and has not attained any regulatory authority endorsement in any jurisdiction. It is not an offer or invitation for acquiring or subscribing for any Minesto securities but serves as background information solely for the Rights Issue.

Pareto Securities AB operates on behalf of Minesto and none other, thereby offering protection and advice exclusively to their clientele. They bear no responsibility towards third parties in regard to the Rights Issue or other matters presented herein.

Risk Considerations and Forward-Looking Statements

It is essential to acknowledge that the press release contains forward-looking statements representing Minesto's intentions, beliefs, expectations, and objectives for future operational results, financial state, liquidity, performance, future growth, strategies, and potential market opportunities. These are not definitive historical facts and are generally identifiable by terms like "believe", "expect", "anticipate", "intend", among similar expressions. Nevertheless, no guarantee is provided regarding these forward-looking statements as they are based on various assumptions which themselves are susceptible to a multitude of risks and uncertainties. Actual results may significantly diverge from those anticipated in the forward-looking statements due to these potential risks and uncertainties.

Guidance for Distributors and Product Governance

The shares addressed in this communication have undergone a product approval process, considering the product governance requirements stated in the EU Directive 2014/65/EU (MiFID II), as well as other related regulations. The Target Market Assessment concluded that the shares are compatible with retail investors and professional clients and are suitable for distribution through all channels permitted by MiFID II.

However, distributors are reminded that the investment's value is volatile, with the possibility of losing the entire investment. The shares do not guarantee income or capital protection, fitting solely for investors who can assess the investment's merits and risks and sustain potential losses.

Furthermore, the Target Market Assessment neither implies suitability nor amounts to investment recommendations. Distributors remain responsible for their own assessments concerning the shares and the determination of appropriate distribution channels.

Final Notes and Online Resources

The content of this press release, including the forward-looking statements and information provided, is based on the current date and may undergo alterations without notice. It is up to Minesto and respective entities to review, update, and publicly rectify any forward-looking statements as necessitated by law or market regulations.

For those interested in accessing the official press release or downloading related files, they can explore the announcement on Cision's website at http://news.cision.com and view the Rights Issue specific release at https://news.cision.com/minesto-ab/r/minesto-publishes-prospectus-in-connection-with-the-rights-issue,c3946532. Downloads available include:

• PR 150324 Minesto publishes prospectus in connection with the rights issue (PDF)

Minesto appreciates the diligent consideration of investors and stakeholders alike as it navigates through the Rights Issue's complexities and towards fulfilling its mission.

In conclusion, Minesto's transparency in publishing the Prospectus, outlining the Rights Issue details alongside its strategic timeline, reflects its commitment to investor satisfaction and environmental innovation. Through the conjoined efforts of their advisors, management, and supportive investors, Minesto endures in their quest to harness the ocean's power sustainably. The decisive dates are now set, and the course for Minesto's Rights Issue offering is clear—the marine energy future is on the horizon.