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Statement by the Board of Directors of Swedish Stirling in relation to the public takeover offer by TEXEL

Background This statement is made by the Board of Directors (the “Board”) of Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) pursuant to Section II.19 of the Takeover rules for certain trading platforms (the “Takeover Rules”). On 19 February 2023, the Board announced its intention to propose that the Company initiates an orderly winding-up of the operations by allowing the shareholders to consider a voluntary winding-up. On 24 February 2023, the Company convened an Extraordinary General Meeting to be held on 20 March 2023 to resolve upon a voluntary winding-up. The

Communiqué from the extraordinary general meeting of Swedish Stirling

At the extraordinary general meeting of Swedish Stirling AB (publ) on 20 March 2023, it was resolved that the matter regarding liquidation shall be adjourned until a continued general meeting.As described in the notice of the general meeting, the board of directors of Swedish Stirling AB (publ) has proposed that the company shall enter into voluntary liquidation pursuant to Chapter 25, section 3 of the Swedish Companies Act, described in detail in the general meeting documents available on the company’s website, www.swedishstirling.com. At the general meeting, it was resolved, upon

Swedish Stirling gives notice of termination of the employment of the CFO

Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has given notice of termination of the employment of the Chief Financial Officer (CFO) in order to limit future costs for the Company. The CFO will remain in service and at the Company’s disposal during the notice period.On 19 February 2023, Swedish Stirling announced that the Board of Directors had resolved to let the shareholders consider a proposal of voluntary winding-up of the Company at an extraordinary general meeting. As a consequence, and only due to these circumstances, and in order to limit future costs for the

Notice to Extraordinary General Meeting in Swedish Stirling AB (publ)

The shareholders of Swedish Stirling AB (publ) (the “Company”), Reg. No 556760-6602, are hereby invited to the Extraordinary General Meeting on Monday 20 March 2023, at 09:00 at Wistrand Advokatbyrå, Regeringsgatan 65 in Stockholm, Sweden.A. RIGHT TO PARTICIPATE IN THE SHAREHOLDERS MEETING   Shareholders who wishes to attend the Meeting must · firstly, be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances on 10 March 2023, · secondly, give notice of its participation in the Meeting no later than on 14

Swedish Stirling gives notice of termination of the employment of the managing director and resolves to prepare a special balance sheet

The Board of Directors of Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has resolved to give notice of termination of the employment of the managing director in order to limit future costs for the Company. The managing director will remain in service and at the Company’s disposal during the notice period. The Board of Directors has further resolved, on the basis of the previously announced proposal to initiate an orderly winding-up of the operations, to initiate the preparations of a special balance sheet for winding-up purposes.On 19 February 2023, Swedish Stirling

Swedish Stirling initiates measures for an orderly winding-up and will summon a general meeting for a decision on a voluntary winding-up procedure

The Board of Directors of Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has resolved to propose that the Company initiates an orderly winding-up of the operations through a voluntary winding-up procedure. For this purpose, the Board of Directors has been into contact with certain major creditors of the Company, which creditors are favourably disposed toward such an orderly winding-up of the operations. The Board of Directors of Swedish Stirling has resolved that the shareholders shall be summoned to an extraordinary general meeting for considering the proposal for the

Swedish Stirling announces outcome of the rights issue

Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") today announces the outcome of the Company’s rights issue, for which the extended subscription period with right of withdrawal ended on 31 January 2023. The outcome of the rights issue concludes that the subscriptions by exercise of subscription rights and the applications for subscription without subscription rights correspond to approximately 12.2 per cent of the ordinary shares offered. Ordinary shares subscribed for in the rights issue correspond to gross proceeds of approximately MSEK 24.3 before transaction costs.Outcome

Swedish Stirling publishes prospectus supplement

Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") publishes prospectus supplement for the rights issue.Today, on 2 January 2023, Swedish Stirling has published a supplement to the rights issue prospectus, which was published on 5 December 2022. The prospectus supplement has been prepared by reason of Swedish Stirling’s announcement on 22 December 2022 that a product sales agreement is unlikely to be reached with Glencore, and that the subscription period in the rights issue was extended until 31 January 2023, and announcement on 30 December 2022 that the Company resolved on

Swedish Stirling resolves on extended cost-saving measures and seeks strategic partner

The Board of Directors of Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has given the Company’s CEO Dennis Andersson and the management team the mandate to significantly lower the Company’s costs in order for the current working capital to last as long as possible. The Board of Directors has also instructed the CEO to actively seek opportunities for strategic partnerships.On 22 December 2022, Swedish Stirling announced that it is unlikely that the Company will reach a product sales agreement for PWR BLOKs with Glencore and that the Board of Directors had resolved to

Swedish Stirling announces that a product sales agreement is unlikely to be reached with Glencore and extends subscription period in the rights issue

The Board of Directors of Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") hereby announces that, based on the terms included in Glencore’s proposal, and the terms required by Glencore, for a product sales agreement for PWR BLOKs, Swedish Stirling deems it unlikely that the parties will reach a product sales agreement for PWR BLOK. In light hereof, Swedish Stirling’s Board of Directors has resolved to extend the subscription period in the rights issue, and intends to waive the subscription and underwriting commitments received by a number of existing shareholders and external

Conversion of MSEK 50 of outstanding loan amount under convertible bonds 2020/2025 (KV4)

Holders of convertible bonds 2020/2025 (“KV4”) in Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) have today requested conversion of MSEK 50, corresponding to 50 per cent of the outstanding loan amount under KV4, into ordinary shares in the Company, in accordance with previous conversion undertakings as disclosed on 9 November 2022. As a result of the conversion, a total amount of 44,247,787 new ordinary shares are issued in the Company at a conversion price of SEK 1.13.Convertible bond holders of KV4 have, in accordance with previous conversion undertakings, requested

Swedish Stirling publishes prospectus for the rights issue

On 29 November 2022, Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) announced that the Board of Directors had resolved on a rights issue of ordinary shares of approximately SEK 200 million before transaction costs by virtue of the authorisation from the Extraordinary General Meeting held on 28 November 2022 (the “Rights Issue”). The prospectus relating to the Rights Issue has today been approved by the Swedish Financial Supervisory Authority (the “SFSA”).The prospectus relating to the Rights Issue has today on 5 December 2022 been approved by the SFSA, and is now available

Swedish Stirling resolves on rights issue of approximately SEK 200 million and announces terms

The Board of Directors of Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") announced, on 9 November 2022, an intention to carry out a new issue of ordinary shares of approximately SEK 200 million before transaction costs, with preferential right for the Company’s existing shareholders (the “Rights Issue”) to finance the serial production and commercial rollout of PWR BLOK. The Board of Directors has today, based on the authorisation from the Extraordinary General Meeting held on 28 November 2022 (the “EGM”), resolved on the Rights Issue, including final terms.Summary of the

Lifecycle analysis shows major climate benefits of the PWR BLOK

The PWR BLOK, Swedish Stirling’s solution for energy recovery, has a very low environmental impact. A lifecycle analysis shows that, after just a few weeks in operation, the PWR BLOK unit has fully offset the environmental impact of the technology for its entire estimated product lifecycle. The technology is therefore of very large climate benefit.Earlier this autumn, Swedish clean-tech company Swedish Stirling AB commissioned environmental consultancy firm, Promethium Carbon, to carry out a lifecycle analysis (LCA) of the PWR BLOK technology. The first interim report of the analysis shows

Swedish Stirling is granted patent for the PWR BLOK

Swedish Stirling has had a patent application – for the solution to use Stirling engines to recover energy from industrial residual gases – approved. The company has intensified its work over the year to strengthen the intellectual property protection for the PWR BLOK technology.Swedish clean-tech company Swedish Stirling AB has had a patent application, for the company’s PWR BLOK technology, approved. The PWR BLOK unit is a system the company has developed that uses Stirling engines to recover energy from industrial residual gases and heat which is convert into electricity. The solution

Resolutions at Swedish Stirling’s Extraordinary General Meeting 2022

At the Extraordinary General Meeting (the “EGM”) of Swedish Stirling AB (publ) on 28 November 2022, which was held through postal voting without physical presence in accordance with temporary legislation, the following was resolved. All resolutions were in accordance with the submitted proposals, described in detail in the general meeting documents available on the company’s website, www.swedishstirling.com.Authorisation for the Board of Directors to resolve on new issue of ordinary sharesThe EGM resolved, in accordance with the proposal of the Board of Directors, to authorise the Board

Swedish Stirling obtains conversion undertakings of MSEK 50 from KV4 convertible bond holders

Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has obtained irrevocable undertakings from holders of convertible bonds 2020/2025 (“KV4”) regarding conversion into ordinary shares of MSEK 50 of the loan amount, consent to the proposed amendments of the terms and conditions of KV4 and lock-up on shares that result from conversion.Swedish Stirling has reached an agreement with all holders of KV4 according to which the Company has received irrevocable undertakings from the convertible bond holders to convert 50 per cent of the total outstanding loan amount under KV4,

Notice of Extraordinary General Meeting in Swedish Stirling AB (publ)

The shareholders of Swedish Stirling AB (publ), Reg. No 556760-6602, are hereby invited to the Extraordinary General Meeting on 28 November 2022.The Board of Directors has decided that the Extraordinary General Meeting (the “EGM”) is to be held only through postal voting in accordance with temporary legislation. This means that the EGM will be conducted without the physical presence of shareholders, representatives or external parties and that shareholders will only be able to exercise their voting rights by postal voting in advance of the EGM in the manner described below. A. RIGHT TO

Swedish Stirling AB: Q3, 2022 report

Swedish Stirling AB publishes its Q3, 2022 report today.Swedish clean tech company Swedish Stirling AB is publishing its interim report for the period 01-07-2022 – 30-09-2022 today. The report is available for download in its entirety on the company’s website. Significant events during the period include the following: · Net sales for the quarter amounted to TSEK 39 (TSEK 50). Total revenue and capitalized work for the quarter was TSEK 39 (TSEK 10,666). · Earnings per share, before dilution, for the quarter was SEK -1.90 (SEK -0.13). · The Board of Directors of Swedish

Swedish Stirling intends to carry out a rights issue of approximately SEK 200 million

The Board of Directors of Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") hereby announces its intention to carry out a share issue of ordinary shares of approximately SEK 200m before transaction costs, with preferential right for the Company’s existing shareholders (the “Rights Issue”). The Board of Directors proposes that an Extraordinary General Meeting, to be held on 28 November 2022 (the “EGM”), authorises the Board of Directors to resolve on the Rights Issue. The Board of Directors also proposes that the EGM resolves to amend the terms and conditions of the outstanding

The Board of Directors of Swedish Stirling has decided to withdraw the ongoing new issue of preference shares

The Board of Directors of Swedish Stirling AB (publ) (”Swedish Stirling” or the ”Company”) has today decided to withdraw the ongoing offering of newly issued preference shares to institutional investors in Sweden and abroad and the general public in Sweden (the ”Offering”) that was announced on 30 August 2022. The Offering is withdrawn due to prevailing market conditions.On 30 August, 2022, the Board of Directors of the Company, by support of authorization from the annual general meeting on April 21, 2022, resolved to carry out the Offering of approximately SEK 100 million to primarily

Swedish Stirling’s majority shareholder has applied to acquire preference shares equivalent of MSEK 18.6

Swedish Stirling AB (publ)’s (”Swedish Stirling” or the ”Company”) majority shareholder, OU Dagny (”Dagny”), has made an application to acquire preference shares equivalent of MSEK 18.6 and, in connection thereto, sold common shares to finance the acquisition.Swedish Stirling’s largest shareholder, Dagny, a wholly owned company to the Chairman of the Board of the Company, Sven Sahle, has made an application to acquire preference shares equivalent of MSEK 18.6 in the Company’s ongoing preference share issue. Dagny will neither be guaranteed nor prioritized in the allotment of shares. To

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