Kyoto Group AS – Minutes from the annual general meeting held on 30 June 2023

Oslo, Norway 30 June 2023 - Reference is made to the stock exchange announcements made by Kyoto Group AS (the "Company") on 22 June 2023 regarding the signing of a strategic investment agreement with Iberdrola and Spirax-Sarco Engineering and the notice of the Company's annual general meeting.

The Company is pleased to announce that the general meeting adopted all the proposed resolutions with the requisite majority. Consequently, the Company is pleased to officially welcome Iberdrola and Spirax-Sarco Engineering as new shareholders.

The minutes from the general meeting are attached to this announcement and will be made available on the Company's website: www.kyotogroup.no.

For further information, please contact:

Håvard Haukdal, Kyoto Group CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Kyoto Group

Heat accounts for two thirds of industrial energy consumption. Traditionally, nearly all of it is based on fossil fuels. Kyoto Group's Heatcube, a thermal energy storage (TES) solution, provides a sustainable and cost-effective alternative by capturing and storing abundant but variable energy from sources such as solar and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, and has subsidiaries in Spain and Denmark. The Kyoto share is listed on Euronext Growth (ticker: KYOTO).