VG-Shipping Ltd sells 30,229,885 shares in Savosolar Plc to Hybrid Consulting Ltd in a share exchange

Savosolar Plc

Company Announcement             27 December 2022 at 10.00 a.m. (CET)

VG-Shipping Ltd sells 30,229,885 shares in Savosolar Plc to Hybrid Consulting Ltd in a share exchange

VG-Shipping Ltd has entered into an agreement with Hybrid Consulting Ltd, according to which VG-Shipping Ltd sells a total of 30,229,885 shares in Savosolar Plc ("Savosolar") to Hybrid Consulting Ltd in a share exchange. The shares to be sold in the share exchange represent approximately 3.86 percent of Savosolar's shares.

As a result of the execution of the share exchange, Hybrid Consulting Ltd's ownership of Savosolar's shares will rise to approximately 4.32 percent and VG-Shipping Ltd's ownership will decrease to approximately 67.96 percent. The Chair of Savosolar's Board of Directors, Kirsi Suopelto, owns approximately 43 percent of Hybrid Consulting Ltd's shares after the share exchange.

The sale of Savosolar's shares to Hybrid Consulting Ltd described above is expressly permitted based on the lock up commitment applicable to VG-Shipping Ltd dated 30 November 2022. More information about the lock up commitment is available in the Company Description published by Savosolar on 18 November 2022.

SAVOSOLAR PLC

For more information:

Savosolar Plc

Managing Director Jari Varjotie

Phone: 4

E-mail:

About Savosolar

Savosolar has two business units: Marine logistics and Renewable energy.

The Marine logistics business unit (Meriaura Oy) is a major carrier of dry cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company offers its customers competitive and environmentally sustainable sea transport services, while at the same time reducing the carbon emissions of sea transport. Long charter contracts, a modern fleet and a strong market position in renewable energy construction projects offer the opportunity for cargo that supports environmentally friendly solutions. As part of Marine logistics, VG-EcoFuel produces recycled biofuels from recycled bio-oils and industrial byproducts.

The Renewable energy business unit designs and delivers clean energy production systems as turn-key deliveries. The heart of the systems is large-scale solar heating systems, which are implemented using the company's own efficient solar thermal collectors. Other energy production and storage solutions can be connected to the systems, too. The company has taken the utilization of large-scale solar heating to the next level with its patented technology where the core is the optically coated direct flow absorbers. With this leading technology, Savosolar helps its customers produce clean and competitive energy

Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. .

The company’s Certified Adviser is Augment Partners AB, , phone: .