NOT FOR PUBLICATION, DISTRIBUTION, OR DISCLOSURE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH KOREA, SOUTH AFRICA, SWITZERLAND, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH ACTION WOULD BE PROHIBITED BY LAW OR REQUIRE REGISTRATION OR OTHER MEASURES. SEE ALSO THE SECTION “IMPORTANT INFORMATION” BELOW.

The board of directors of Svenska Aerogel Holding AB (publ) (”Svenska Aerogel” or the “Company”) today announces the outcome of the issue of units with preferential rights for the Company’s shareholders, the subscription period of which ended on 13 May 2026 (the “Rights Issue”). The Rights Issue was subscribed for in total to approximately 100 per cent, of which approximately 75.2 per cent was subscribed for with the support of unit rights and approximately 24.8 per cent was subscribed for without the support of unit rights. Svenska Aerogel will thereby receive a total of approximately MSEK 18.4 before issue costs and set-off of a claim.

Outcome of the Rights Issue
The Rights Issue was resolved by the board of directors, with the support of an authorization from the annual general meeting 2025, on 19 April 2026. The subscription period for the Rights Issue ended on 13 May 2026. The subscription price in the Rights Issue amounted to SEK 1.86 per unit, corresponding to SEK 0.93 per share. The warrants of series TO9 are issued free of charge. One (1) unit consists of two (2) shares and one (1) warrant of series TO9.

The final outcome shows that a total of 9 900 213 units, corresponding to 100 per cent of the Rights Issue, have been subscribed for, of which approximately 75.2 per cent was subscribed for with the support of unit rights and approximately 24.8 per cent was subscribed for without the support of unit rights. Through the Rights Issue, the Company will thereby receive approximately MSEK 18.4 before deduction of issue costs of approximately MSEK 0.6 and set-off of a claim of MSEK 0.6. The Rights Issue was covered to approximately 34.3 per cent by subscription undertakings from the Company’s principal shareholder Patrik Björn (directly and indirectly through Gästrike Nord Invest AB), members of the Company’s board of directors and management, as well as a number of existing shareholders and new investors. The issue proceeds will primarily be used to finance sales and marketing, application development and production development.

CEO Tor Einar Norbakk comments:

“We would like to express our sincere thanks to everyone who participated in the rights issue. The strong support from existing shareholders, together with the interest from new investors, is highly encouraging and reflects continued confidence in the Company, our strategy, and our long-term vision. The successful outcome positions us well to continue executing our plans and advancing the business in line with our strategic direction.”

Allocation
Allocation of units subscribed for without the support of unit rights has been carried out in accordance with the principles set out in the information memorandum published by the Company on 28 April 2026. Notification of such allocation will be provided separately through the dispatch of contract notes. Nominee-registered shareholders will receive notification of allocation in accordance with the procedures of the respective nominee.

Warrants of series TO9
One (1) warrant of series TO9 entitles the holder to subscribe for one (1) new share during the period from 11 September 2026 up to and including 25 September 2026. The subscription price for subscription of shares with the support of warrants of series TO9 amounts to the corresponding subscription price as in the Rights Issue, i.e. SEK 0.93 per share. In the event of full exercise of all warrants of series TO9, within the scope of issued units, the Company may receive an additional approximately MSEK 9.2 before issue costs. The warrants of series TO9 are intended to be admitted to trading on Nasdaq First North Growth Market.

Number of shares, share capital and dilution
Through the Rights Issue, the share capital increases by SEK 1,188,025.56 from SEK 1,782,038.46 to SEK 2,970,064.02 and the number of shares increases by 19,800,426 shares from 29,700,641 shares to 49,501,067 shares, corresponding to a dilution effect of approximately 39.9 per cent. Through the Rights Issue and upon full exercise of all warrants of series TO9 within the framework of the offered units, the Company's share capital may increase by an additional maximum of SEK 594,012.78 and the number of shares may increase by a maximum of 9,900,213, corresponding to a dilution effect of 19.9 per cent.

Trading in BTU
Trading in BTU (Paid Subscribed Unit) takes place on Nasdaq First North Growth Market up to and including 29 May 2026.

Advisors
Eversheds Sutherland Advokatbyrå AB is legal advisor to the Company in connection with the Rights Issue. Aqurat Fondkommission AB acts as issuing agent in connection with the Rights Issue.

IMPORTANT INFORMATION
THE PUBLICATION, ANNOUNCEMENT OR DISTRIBUTION OF THIS PRESS RELEASE MAY, IN CERTAIN JURISDICTIONS, BE SUBJECT TO RESTRICTIONS UNDER LAW AND PERSONS IN THOSE JURISDICTIONS WHERE THIS PRESS RELEASE HAS BEEN PUBLISHED OR DISTRIBUTED SHOULD INFORM THEMSELVES OF AND FOLLOW SUCH LEGAL RESTRICTIONS. THE RECIPIENT OF THIS PRESS RELEASE IS RESPONSIBLE FOR USING THIS PRESS RELEASE AND THE INFORMATION HEREIN IN ACCORDANCE WITH APPLICABLE RULES IN THE RESPECTIVE JURISDICTION. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF, OR AN INVITATION TO, ACQUIRE OR SUBSCRIBE FOR ANY SECURITIES IN THE COMPANY IN ANY JURISDICTION, NEITHER FROM THE COMPANY NOR FROM ANYONE ELSE.

THIS PRESS RELEASE IS NOT A PROSPECTUS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION”) AND HAS NOT BEEN APPROVED BY ANY REGULATORY AUTHORITY IN ANY JURISDICTION.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF OR AN INVITATION TO ACQUIRE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES. THE SECURITIES REFERRED TO HEREIN MAY NOT BE SOLD IN THE UNITED STATES WITHOUT REGISTRATION, OR WITHOUT THE APPLICATION OF AN EXEMPTION FROM REGISTRATION, UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT BEING REGISTERED, QUALIFYING FOR AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THERE IS NO INTENTION TO REGISTER ANY SECURITIES REFERRED TO HEREIN IN THE UNITED STATES OR TO MAKE A PUBLIC OFFERING OF SUCH SECURITIES IN THE UNITED STATES. THE INFORMATION IN THIS PRESS RELEASE MAY NOT BE ANNOUNCED, PUBLISHED, COPIED, REPRODUCED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, BELARUS, SINGAPORE, NEW ZEALAND, RUSSIA, JAPAN, SOUTH KOREA, CANADA, HONG KONG, SWITZERLAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH ANNOUNCEMENT, PUBLICATION OR DISTRIBUTION OF THIS INFORMATION WOULD BE IN CONFLICT WITH APPLICABLE RULES OR WHERE SUCH ACTION IS SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES THAN WHAT IS REQUIRED UNDER SWEDISH LAW. ACTIONS IN VIOLATION OF THIS INSTRUCTION MAY CONSTITUTE A BREACH OF APPLICABLE SECURITIES LEGISLATION.

IN THE UNITED KINGDOM, THIS DOCUMENT AND OTHER MATERIALS IN RELATION TO THE SECURITIES REFERRED TO HEREIN ARE ONLY BEING DISTRIBUTED TO, AND DIRECTED AT, AND ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS DOCUMENT RELATES IS ONLY AVAILABLE TO AND WILL ONLY BE ENGAGED IN WITH, “QUALIFIED INVESTORS” WHO ARE (I) PERSONS HAVING PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS AND WHO FALL WITHIN THE DEFINITION OF “INVESTMENT PROFESSIONALS” IN ARTICLE 19(5) OF THE UNITED KINGDOM FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE “ORDER”); OR (II) HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A)-(D) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). AN INVESTMENT OR AN INVESTMENT ACTIVITY TO WHICH THIS COMMUNICATION RELATES IS IN THE UNITED KINGDOM ONLY AVAILABLE TO RELEVANT PERSONS AND WILL ONLY BE ENGAGED IN WITH RELEVANT PERSONS. PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS PRESS RELEASE AND SHOULD NOT ACT OR RELY ON IT.

FORWARD-LOOKING STATEMENTS
TO THE EXTENT THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS, SUCH STATEMENTS DO NOT REPRESENT FACTS AND ARE CHARACTERISED BY WORDS SUCH AS “SHALL”, “EXPECTED”, “BELIEVES”, “ESTIMATES”, “INTENDS”, “AIMS”, “ASSUMES” AND SIMILAR EXPRESSIONS. SUCH STATEMENTS EXPRESS THE COMPANY’S INTENTIONS, OPINIONS OR CURRENT EXPECTATIONS OR ASSUMPTIONS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT PLANS, ESTIMATES AND PROJECTIONS WHICH THE COMPANY HAS MADE TO THE BEST OF ITS ABILITY BUT WHICH THE COMPANY DOES NOT CLAIM WILL BE CORRECT IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE ASSOCIATED WITH RISKS AND UNCERTAINTIES THAT ARE DIFFICULT TO PREDICT AND GENERALLY CANNOT BE INFLUENCED BY THE COMPANY. IT SHOULD BE KEPT IN MIND THAT ACTUAL EVENTS OR OUTCOMES MAY DIFFER MATERIALLY FROM WHAT IS COVERED BY, OR EXPRESSED IN, SUCH FORWARD-LOOKING STATEMENTS. NEITHER THE COMPANY NOR ANYONE ELSE UNDERTAKES ANY OBLIGATION TO REVIEW, UPDATE, CONFIRM OR PUBLISH ANY REVISIONS OF FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS THAT OCCUR OR CIRCUMSTANCES THAT ARISE IN RELATION TO THE CONTENT OF THIS PRESS RELEASE, UNLESS REQUIRED BY LAW OR THE RULES OF NASDAQ FIRST NORTH GROWTH MARKET FOR ISSUERS.

INFORMATION TO DISTRIBUTORS
SOLELY FOR THE PURPOSES OF THE PRODUCT GOVERNANCE REQUIREMENTS CONTAINED IN: (A) EU DIRECTIVE 2014/65/EU ON MARKETS IN FINANCIAL INSTRUMENTS, AS AMENDED ("MIFID II"); (B) ARTICLES 9 AND 10 OF COMMISSION DELEGATED DIRECTIVE (EU) 2017/593 SUPPLEMENTING MIFID II; AND (C) NATIONAL IMPLEMENTING MEASURES (TOGETHER THE “MIFID II PRODUCT GOVERNANCE REQUIREMENTS”) AND DISCLAIMING ALL AND ANY LIABILITY, WHETHER ARISING IN TORT, CONTRACT OR OTHERWISE, WHICH ANY “MANUFACTURER” (FOR THE PURPOSES OF THE MIFID II PRODUCT GOVERNANCE REQUIREMENTS) MAY OTHERWISE HAVE WITH RESPECT THERETO, THE OFFERED SHARES HAVE BEEN SUBJECT TO A PRODUCT APPROVAL PROCESS, WHICH HAS DETERMINED THAT SUCH SECURITIES ARE: (I) COMPATIBLE WITH AN END TARGET MARKET OF RETAIL INVESTORS AND INVESTORS WHO MEET THE CRITERIA OF PROFESSIONAL CLIENTS AND ELIGIBLE COUNTERPARTIES, EACH AS DEFINED IN MIFID II; AND (II) ELIGIBLE FOR DISTRIBUTION THROUGH ALL DISTRIBUTION CHANNELS AS ARE PERMITTED BY MIFID II (THE “TARGET MARKET ASSESSMENT”). NOTWITHSTANDING THE TARGET MARKET ASSESSMENT, DISTRIBUTORS SHOULD NOTE THAT: THE PRICE OF THE COMPANY’S SHARES MAY DECLINE AND INVESTORS COULD LOSE ALL OR PART OF THEIR INVESTMENT, THAT THE COMPANY’S SHARES OFFER NO GUARANTEED INCOME AND NO CAPITAL PROTECTION AND THAT AN INVESTMENT IN THE COMPANY’S SHARES IS ONLY SUITABLE FOR INVESTORS WHO DO NOT NEED GUARANTEED INCOME OR CAPITAL PROTECTION AND WHO (ALONE OR IN CONJUNCTION WITH AN APPROPRIATE FINANCIAL OR OTHER ADVISER) ARE CAPABLE OF EVALUATING THE MERITS AND RISKS OF SUCH AN INVESTMENT AND WHO HAVE SUFFICIENT RESOURCES TO BE ABLE TO BEAR ANY LOSSES THAT MAY RESULT FROM SUCH AN INVESTMENT. THE TARGET MARKET ASSESSMENT IS WITHOUT PREJUDICE TO THE REQUIREMENTS OF ANY CONTRACTUAL, LEGAL OR REGULATORY SELLING RESTRICTIONS IN RELATION TO THE DIRECTED ISSUE. THE TARGET MARKET ASSESSMENT DOES NOT CONSTITUTE, FOR THE AVOIDANCE OF DOUBT, (A) AN ASSESSMENT OF SUITABILITY OR APPROPRIATENESS FOR THE PURPOSES OF MIFID II OR (B) A RECOMMENDATION TO ANY INVESTOR OR GROUP OF INVESTORS TO INVEST IN, ACQUIRE, OR TAKE ANY OTHER ACTION WHATSOEVER WITH RESPECT TO THE COMPANY’S SECURITIES. EACH DISTRIBUTOR IS RESPONSIBLE FOR UNDERTAKING ITS OWN TARGET MARKET ASSESSMENT IN RESPECT OF THE COMPANY’S SHARES AND FOR DETERMINING APPROPRIATE DISTRIBUTION CHANNELS.

For further information, please contact:
Tor Einar Norbakk, CEO.
Telephone: +46 (0)70 616 08 67.
E-mail: toreinar.norbakk@aerogel.se

About Svenska Aerogel Holding AB (publ)
Svenska Aerogel manufactures and commercializes the mesoporous material Quartzene®. Svenska Aerogel's business concept is to meet the market’s need for new materials that are in line with global sustainability objectives. Quartzene® is flexible and can be tailored to different applications to add essential properties to an end product. The company's vision is to be the most valued business partner providing pioneering material solutions for a sustainable world.

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Svenska Aerogel Holding AB is listed on Nasdaq First North Growth Market. Certified Adviser is FNCA.

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Svenska Aerogel Holding AB (publ) announces the outcome of the rights issue of units

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