M Vest Water AS and two main shareholders in the Company, announced that they have entered into a shareholder loan facility, pursuant to which the shareholders will make available to M Vest Water AS up to NOK 12 million. In addition to the Company?s cash position and existing bank facilities (not drawn), this facility will enable M Vest Water AS to continue its previously announced strategy of advancing its project portfolio for the next period. The facility will be available for use until December 31, 2024 and contains customary covenants and event of default provisions.

Amounts drawn under the facility will carry interest at a rate of NIBOR 3M + 6% per annum and a commitment fee of 1.5% per annum on any undrawn part of the facility.