Report from the extraordinary general meeting in Cimco Marine AB (publ)

At the extraordinary general meeting in Cimco Marine AB (publ) (the “Company”) held on 8March 2019, the following was resolved.

Amendment of the articles of association

The general meeting resolved, as proposed by the board, to amend the limits of the Company’s share capital and the number of shares in the articles of association as follows:

The limits for the Company’s share capital in Section 4 of the articles of association were amended as follows: “The share capital shall not be less than SEK 1,375,000 and not exceed SEK 5,500,000.”

The limits for the Company’s number of shares in Section 5 of the articles of association were amended as follows: “The number of shares shall not be less than 50,000,000 and not more than 200,000,000.”

Resolution on new issue of units with preferential rights for existing shareholders

The extraordinary general meeting resolved, as proposed by the board, to issue so called units (shares and warrants) with preferential rights for existing shareholders.

The resolution means that the Company’s share capital – by an issue of up to 34,423,868 units on the terms set out below – can be increased by up to SEK 4,128,746.20 of which up to SEK 3,096,559.65 in respect of new shares and up to SEK 1,032,186.55 in respect of warrants.

Each unit consists of three new shares in the Company and one new warrant in the Company. This means that up to 103,271,604 new shares and up to 34,423,868 new warrants may be issued in the proposed unit issue.

The units are issued with preferential rights for existing shareholders, whereby one existing share gives the right to seven unit rights and six unit rights give the right to subscription of one unit, i.e. three new shares and one new warrant. The record date for participation in the new issue of shares is 15 March 2019. The subscription price per unit shall amount to SEK 3.00. The warrants are issued without consideration.

Subscription of units with preferential rights shall be made through cash payment during the period from and including 20 March 2019 to and including 3 April 2019. The board of directors is entitled to extend the subscription and payment periods.

One warrant entitles to subscribe for one new share in the Company for a subscription price of SEK 1.50. Subscription of new shares by using warrants shall be made in accordance with the terms and conditions for the warrants during the period from and including 4 October 2019 to and including 17 October 2019.

Full terms and conditions will be available in the Company’s prospectus which is expected to be published on the Company’s website, www.oxe-diesel.com, on or around 15 March 2019.

Certified Adviser

Västra Hamnen Corporate Finance AB is Certified Adviser for Cimco Marine AB (publ). Contact details to Västra Hamnen: tel. 040-20 02 50, e-mail ca@vhcorp.se.

For further information, please contact:

Anders Berg, Chairman, anders.berg@oxe-diesel.com, +46 70 358 91 55

Andreas Blomdahl, CEO, andreas.blomdahl@oxe-diesel.com, +46 431 44 98 99

Myron Mahendra, CFO and EvP in charge of Administration and HR, myron.mahendra@oxe-diesel.com, +46 76 347 59 82

Cimco Marine AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 8 March 2019 at 12:10 pm.

Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high power segment. The Company’s unique patented engine-to-propulsion power transmission solutions have led to high demand for the Company's engines worldwide.

About Us

Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world´s first diesel outboard engine in the high-power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. Cimco´s OXE diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.