(Bergen, 15 November 2022): Bergen Carbon Solutions AS (BCS, OSE:BCS)

Reference is made to the stock exchange announcement on 4 November 2022 on the
appointment of Odd Strømsnes as new CEO in Bergen Carbon Solutions AS. 

The Board of Directors of Bergen Carbon Solutions AS has awarded Odd Strømsnes
400,000 options as part of the company's existing proxy on share option program
for employees. 1/3 of the options can be exercised two years after Mr. Strømsnes
resumes his new position and 2/3 of the options can be exercised four years
after he has resumed his new position. Exercise price for the options is equal
to the volume-weighted average price (VWAP) for the last 10 trading days before
the extraordinary general meeting scheduled for 22 November 2022, with an
increase of five percentage points per year. 

After this award Odd Strømsnes holds 400,000 options in Bergen Carbon Solutions
AS. 

Further, the Board wants to ensure that the general manager and the
administration have the necessary tools to incentivize key personnel and future
employees. Thus, the board has also today proposed for the extraordinary general
meeting on 22 November 2022 to replace the current authorisation to issue new
shares in connection with option programmes, incentive schemes and the like with
a new authorisation up to 5% of the Company's share capital.
 
The Company currently is in an industrialization phase which requires special
competence, continuity and workload for the chairman. The Board has therefore
also proposed for the extraordinary general meeting that the Chairman of the
Board, Jon André Løkke, is granted 300,000 options. 1/3 of the options can be
exercised two years after the extraordinary general meeting and 2/3 of the
options three years after the extraordinary general meeting. Exercise price for
the options is equal to the volume-weighted average price (VWAP) for the last 10
trading days before the extraordinary general meeting scheduled for 22 November
2022, with an increase of five percentage points per year.
 
After this proposed award, Jon André Løkke will hold 300,000 options in Bergen
Carbon Solutions AS. 

ENDS

For further information, please contact: 
Finn Blydt-Svendsen, Interim CEO, fbs@bergencarbonsolutions.com, +47 930 40 797
Karina Brudeseth, CFO, karbru@bergencarbonsolutions.com, +47 413 43 381

About Bergen Carbon Solutions Bergen Carbon Solutions aims to pioneer a new
Norwegian industry for ground-breaking, environmentally friendly
material-technology. Bergen Carbon Solutions utilizes CO2 and Norwegian
hydropower to create carbon products such as nanofibers, nanotubes, and
graphite. Bergen Carbon Solutions is listed on Euronext Growth under the ticker
BCS.

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