The shareholders of Minesto AB (publ), reg. no. 556719-4914 (“Minesto” or the “Company”), are hereby given notice to attend the Extraordinary General Meeting to be held on Monday, 23 November 2026 at 1.00 p.m. (CET) at MAQS Advokatbyrå’s premises on Masthamnsgatan 13 in Gothenburg, Sweden.

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.

The Board of Directors of Minesto AB (publ) (“Minesto” or the “Company”) has today resolved on an intention to carry out an issue of shares with preferential rights for the Company’s existing shareholders of approximately SEK 130 million (the “Rights Issue”), and to convene an Extraordinary General Meeting to be held on 23 November 2026 to resolve on an amendment of the Articles of Association and a new authorisation for the Board of Directors to resolve on issues of shares and warrants (the “Authorisation”) in order to enable the Rights Issue. The Board of Directors intends to formally resolve on the Rights Issue on 25 November 2026, by virtue of the authorisation from the Extraordinary General Meeting. The Company has received subscription undertakings from the Company’s largest shareholder Corespring New Technology AB (“Corespring”) and from shareholding members of the Company’s management amounting to a total of approximately SEK 10.5 million, and a bottom guarantee commitment from Vator Securities AB (“Vator”) amounting to approximately SEK 67.5 million. The Rights Issue is thus covered by subscription undertakings and a guarantee commitment of approximately SEK 78 million, corresponding to approximately 60 percent of the Rights Issue.

Minesto intends to use the proceeds from the Rights Issue to secure project investments for the first commercial arrays, with Hestfjord in the Faroe Islands and Euro Dragon Farm in Ireland as the lead candidates, and for sales of microgrid systems emerging from the ongoing development in the Faroe Islands. In addition, the proceeds will cover costs for Dragon technology advancements for scale-up, as well as working capital for general corporate purposes.

Notice of the Extraordinary General Meeting will be announced in a separate press release.

Minesto, leading ocean energy developer, has been selected to participate in the Sweden–Indonesia Sustainability Partnership (SISP), a Swedish government-backed initiative supporting sustainable development and business collaboration in Indonesia. Through the partnership, Minesto will work closely with Business Sweden to advance tidal energy opportunities in one of the world’s most promising markets for ocean energy, supporting Indonesia’s transition towards a sustainable energy system.

Minesto, leading ocean energy developer, today announces that the company has been selected by the European Commission to enter Grant Agreement Preparation (GAP) for funding of 20.2 M EUR million under the Innovation Fund (Call INNOVFUND-2025-NZT). The selected project, Euro Dragon Farm, is a first-of-its-kind 10 MW tidal kite array planned for deployment in Ireland. Minesto now enters the GAP phase to finalise and sign the grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA). This process will be finalized in the first quarter of 2027.

Minesto has validated its industry-leading service turnaround capability as upgraded Dragon 4 tidal power plant returned to operation in only 48 hours following its latest service intervention, demonstrating a unique service concept that delivers high availability and low operating costs.

Minesto, leading ocean energy developer, has signed a Memorandum of Understanding (MOU) with Chilean project developer Trayen Power to collaborate on the development of tidal and ocean current energy projects in Chile. Chile represents a particularly attractive market for Minesto, combining world-class tidal and ocean current resources with both large utility arrays and microgrid opportunities.

Recording of CEO Dr Martin Edlund’s presentation at Aktiespararna’s Aktiedagen Stockholm on 15 September 2026.

Minesto’s CEO Dr Martin Edlund presents today at Aktiedagen i Stockholm by Aktiespararna, 15 September 2026

Following the Half-Year Report 2026, Minesto invites investors to a webinar, Tuesday 25 August at 1 pm (CEST). CEO Dr Martin Edlund will present and share key updates from Minesto, followed by a Q&A session. 

CEO Dr Martin Edlund: “The first six months of 2026 have seen tangible progress across our business. We have verified electricity production performance over long production cycles, enhanced customer offerings, and multiplied our customer engagements.  Our conviction is stronger than ever that tidal energy is moving from promise to reality, spearheaded by us”.

Minesto implements organisational changes to enhance the commercial readiness of its service offering.  Site installation and operations (installation and handling) will be managed through customer delivery projects, such as the Vestmanna Site Project, relying on Minesto’s proprietary and proven methods and technology, but primarily delivered by external and local resources to enhance flexibility and efficiency. Technology development related to Operations methods and tools will be integrated into Product Development led by Chief Technology Officer, Bernt Erik Westre.

Minesto today announces that the Dragon 4 power plant, upgraded with a new power-take-off (PTO) system that improves energy production throughout the tidal flow cycle, has delivered record breaking electricity generation over the summer in Vestmannasund, Faroe Islands. ”We have now demonstrated what we believe to be the most efficient tidal energy power plant in the world in terms of energy conversion performance. This is proven through continuous production over several months,” says Dr Martin Edlund, CEO of Minesto.

The Faroe Islands Space Program, the global communication campaign featuring the unique Minesto Dragons, has been awarded the Grand Prix at the Cannes Lions International Festival of Creativity 2026, recognising it as the world’s most outstanding B2B creative campaign of the year. To date, the campaign has generated more than 800 million impressions, bringing significant global exposure to Minesto’s Dragon technology. The Cannes Lions Grand Prix is the world’s most prestigious creative award and further increases Minesto’s exposure and global reach.

The Annual General Meeting of Minesto AB, held 23 June 2026, resolved to elect Philippe Kavafyan as a new member of the Board of Directors. With more than 30 years of experience in the international energy sector, including leadership roles in the wind industry and offshore projects, Philippe will contribute with strategic expertise, global networks and valuable insights to support Minesto’s continued growth and expansion. “We are very pleased to welcome Philippe Kavafyan to Minesto’s Board of Directors. He brings an extensive international network and solid experience from a complex and rapidly growing energy market,” says Minesto board member Göran Linder.

Recording of CEO Dr Martin Edlund’s speech to the Annual General Meeting 2026 of Minesto AB, 23 June 2026.

The Annual General Meeting of Minesto AB was held today, 23 June 2026, at Hotel Riverton at Badhusgatan 26 in Gothenburg. Chairperson of the Annual General Meeting (the “AGM”) was attorney Eric Ehrencrona from MAQS Advokatbyrå.

The shareholders of Minesto AB (publ), reg. no. 556719-4914, (”Minesto” or the ”Company”) are hereby given notice to attend the Annual General Meeting on Tuesday 23 June 2026 at 9.00 a.m. at Hotel Riverton, Stora Badhusgatan 26 in Gothenburg. Registration for the general meeting begins at 8.30 a.m.

Following the Interim Management Statement 1 January-31 March 2026, Minesto invites investors to a webinar, Monday 18 May at 2 pm (CEST). CEO Dr Martin Edlund will present and share key updates from Minesto, followed by a Q&A session. 

CEO Dr Martin Edlund: “An intense first quarter has seen progress in market and technology development”.

Minesto’s microgrid scale powerplant Dragon 4 (100kW) is installed and produces electricity to the Faroese grid, generating valuable data for the upcoming microgrid installation partly funded by the Swedish Energy Agency. The Minesto tidal energy kite Dragon 12 (1.2 MW) has been successfully recovered after 10 months in the water in Vestmannasund. The unique megawatt Dragon is now on shore for inspection and maintenance.

Minesto’s Annual Report in Swedish for the financial year 2025 is now available on the company’s website.

CEO Dr Martin Edlund: “A year of global brand and technology exposure and grid-connected electricity production with commercial-scale powerplant”

Minesto’s Dragon testing in Vestmanna continues. The Dragon 12 powerplant has been installed (grid-connected) for 9 months since May 2025 and has provided valuable production and operational data. The Dragon 12 has proved robustness and stability beyond commercial service intervals. Dragon 12 is now operating in park-mode as a precaution given that preventive maintenance intervals have been exceeded. Minesto’s local marine contractor in the Faroe Islands is undertaking unforeseen service over winter on the vessel. Given the stable condition of the installed Dragon 12 and the significant costs associated with mobilization of an alternative vessel from abroad, the service recovery of Dragon 12 will be executed when the local vessel returns to operation.

On Thursday February 26, Minesto, leading ocean energy developer, will publish the Year-End Report 2025. Dr Martin Edlund, CEO, will present and share key updates from Minesto, followed by a Q&A session.

Minesto continues to follow through with a market entry strategy based on collaboration with strong local site development and project investment partners. With the signing of a new partnership agreement (MOU) with ocean energy site developer Haf-Afl, the Icelandic market is added to Minesto’s range of markets actively pursued.

Minesto, leading ocean energy developer, has been awarded 24,000 EUR grant funding from the Swedish Energy Agency (SEA) through the Global Innovation Accelerator (GIA) programme, aiming to accelerate the company’s market development in Taiwan. As part of the programme, Minesto officially took part in the high-level Nordic-Taiwan Sustainable Energy Forum, held in Taipei in December. 

Minesto, leading ocean energy developer, has on a complementary basis been selected for in-depth investment advisory support by the European Investment Bank (EIB) under the PDA (Project Development Assistance) programme.  The program offers extensive free of charge financial advisory support to a few carefully selected investment opportunities within the renewable energy sector in the EU. The Minesto investment case chosen for the programme is a 10MW Dragon Farm (tidal energy array) located at a new targeted site within EU waters. The EIB advisory support focus’s on increasing the financial attractiveness and overall quality of the investment offer, aiming to raise 25 M EUR in capital. The programme commences immediately.

Minesto AB (”Minesto” or the ”Company”) announces that the Company’s Board of Directors dismisses a claim for damages directed against them from the former major shareholder BGA Invest AB (”BGA”) as unfounded. The claim for damages is allegedly based on the Board of Directors’ resolution to allot shares to BGA in the Company’s rights issue carried out during autumn 2025 (the ”Rights Issue”).

Minesto today announces that the long-term incentive program LTI 2021, which the Annual General Meeting on 2 June 2021 resolved to implement, has been completed and that a total of 686,611 shares under the program have been subscribed, providing the company with proceeds of approximately SEK 34.3 thousand. Furthermore, the new long-term incentive program LTI 2025, which the Annual General Meeting on 22 May 2025 resolved to implement, has been initiated. Minesto also announces that one of the company’s largest shareholders, Corespring New Technology AB, and the company’s CEO and board member, CFO and CTO have increased their shareholdings in Minesto through acquisitions.

CEO Dr Martin Edlund:”Minesto moves forward with a funded and reinforced action plan for commercial breakthrough”.