Kyoto Group AS: Grant of share options to primary insiders

Oslo, Norway 15 August 2023 – As part of Kyoto Group’s employee benefit program and in accordance with the authorization granted by the annual general meeting on 30 June 2023, senior executives and employees of the company have been granted 250,000 share options in Kyoto Group AS ("Kyoto" or the "Company").

A total of 150,000 share options have been granted to primary insiders, distributed as follows:

· Camilla Nilsson (CEO) has been granted 100,000 share options

· Håvard Haukdal (CFO) has been granted 25,000 share options

· Susanne Vinje (CSCO) has been granted 25,000 share options

Reference is made to the attached form of notification and public disclosures for primary insiders.

In addition, 100,000 share options have been granted to other employees in the Company.

Each share option gives the right to purchase one share in Kyoto. The options have a strike price of NOK 16.48 per share in line with the transaction price that was applied for the equity raise completed in June 2023. The options will expire 2 years after the date of grant.

The information is subject to the disclosure requirements pursuant to the Market Abuse Regulation article 19, section 5-12 of the Norwegian Securities Trading Act and the issuer rules for Euronext Growth Oslo.

For further information, please contact:

Håvard Haukdal, Kyoto Group CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

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).