Draw on bank guarantee related to insolvency of Goodtech Solutions AB owned by Lazarus Industriforvaltning AB

Reference is made to the stock exchange announcement of 25 March 2025 where Goodtech Solutions AB has been registered as insolvent with the Swedish register of business enterprises (Bolagsverket).

Following the insolvency, 10 million SEK has today been drawn related to an advance payment guarantee issued by Goodtech Solutions AB that expired on 31.03.2025. The issuing bank has security with Goodtech ASA and the draw on the guarantee will be reported under discontinued operations in the Q1 results to be published on 9 May 2025.

Two bank guarantees remain that total 7 million SEK that expire 30 June 2025 and 15 September 2025. As of today, Goodtech ASA has not received any such claims related to the guarantees.

Goodtech is assessing the legal basis relating to any draws on the bank guarantees issued by Goodtech Solutions AB.

For further information, please contact:

Margrethe Hauge, CEO Goodtech ASA
Phone: +47 957 96 920
Email: Margrethe.hauge@goodtech.no

Anders Engelsen, CFO Goodtech ASA
Phone: +47 932 07 901
Email: anders.engelsen@goodtech.no

IMPORTANT INFORMATION

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published by Anders Engelsen, CFO, Goodtech ASA, at the time and date stated above in this announcement.

This release contains forward-looking information and statements relating to the business, performance, and matters that may impact the results of the group. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," "potential," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which the group operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements.

This release is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the group.