Knox Energy Solutions AS – Final result of Rapid offer and extraordinary general meeting completed

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(Oslo, 23 August 2024) Reference is made to the stock exchange announcements by Knox Energy Solutions AS (Knox, OSE: KNOX) on 23 August 2024 regarding the preliminary results of the offer to the shareholders of Rapid Oil Production Ltd. (Rapid Oil) to convert shares in Rapid Oil (Rapid Shares) to shares in the Company (the Offer).

Following final verification, the Company has received acceptances for the Offer for a total of 28,190 Rapid Shares, equivalent to approximately 20.1 % of the total number of Rapid Shares. Together with the 28,000 Rapid Shares already held by the Company, this represents approximately 40 % of the share capital in Rapid Oil.

Of the acceptances, 17,790 shares were conditional on a continued listing of the Company, while 10,400 were unconditional.

Further, the Company announces that an extraordinary general meeting was held today, 23 August 2024, (the "EGM") as a virtual meeting. All items on the agenda were adopted in accordance with the proposals by the Company's board of directors, including the resolutions to issue the shares and warrants related to the Offer.

Please find attached the EGM minutes and the company presentation held afterwards.

For further information, please contact:    

Geir Aune, Chairman, ga@knox-energy.com   

Harald B. Hansen, CEO, hh@knox-energy.com    

This information is published in accordance with the requirements of the Continuing Obligations for companies listed on Euronext Growth Oslo and section 5-12 of the Norwegian Securities Trading Act.

About Knox | knox-energy.com  

Knox Energy Solutions AS is an international energy company, with a holding in Rapid Oil Production Ltd. (Rapid), a UK-based oil and gas company backed by a highly experienced board and management team. Knox Energy Solutions AS is listed on Euronext Growth under the ticker KNOX.   

Important information

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

Matters discussed in this announcement constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon

various assumptions, many of which are based, in turn, upon further assumptions. Although Knox believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. Knox undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities.