Rights issue of shares and warrants is registered with the Swedish Companies Registration Office

January 20, 2020

In December 2019, Minesto AB (publ) ("Minesto" or "the Company") carried out a rights issue of shares and warrants (units). The new shares and warrants have now been registered by the Swedish Companies Registration Office and will be admitted to trading on Nasdaq First North Growth Market on January 21, 2020.

The rights issue comprised 6,085,226 units and the subscription price amounted to SEK 14.12 per unit. One (1) unit consisted of one (1) share and one (1) warrant of series TO3. Each TO3 warrant gives the holder a right to subscribe for one (1) new share in the Company during the period up to and including April 30, 2021.

The new shares and warrants have now been registered by the Swedish Companies Registration Office. In addition, an additional 4,249,290 warrants of the TO3 series from the private placement that the Company carried out on October 28, 2019 have previously been registered. The newly issued shares and all issued TO3 warrants will be admitted to trading on the Nasdaq First North Growth Market on January 21, 2020.

Through the rights issue, the number of shares in the Company has increased by 6,085,226 and the Company’s share capital has increased by SEK 304,261.30. After the issue of shares, the share capital amounts to SEK 6,280,322.80 divided into 125,606,456 shares. Upon full exercise of all TO3 warrants, the number of shares in the Company may additionally increase by 10,334,516, resulting in an additional increase of the share capital by SEK 516,725.80.

For additional information please contact

Magnus Matsson

Head of Communications & Investor Relations, Minesto AB

+46 31 774 14 89

press@minesto.com

About Minesto

Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.

Minesto was founded in 2007 and has operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/Minesto_media.