Circio Holding ASA – Bond conversion and additional trading restrictions

Reference is made to Circio Holding ASA's (the "Company") outstanding convertible bonds issued to Atlas Special Opportunities, LLC and Atlas Capital Markets, LLC ("Atlas") under the Investment Agreement entered into between Atlas and the Company in March 2023.

Following Circio´s recent release of strong data at the ESGCT Annual Meeting 2025 (link to press release) and subsequent positive impact on the trading in Circio shares, Atlas has requested conversion of bonds with an aggregate nominal value of NOK 14,500,000. This represents all of the current outstanding convertible bonds held by Atlas.

To demonstrate their confidence in the continued positive development of Circio, going forward Atlas has committed to a conservative trading strategy, including reducing the trading limitation in the Investment Agreement from the current 35% down to 15% of the total trading volume and to not exceed 10% on low volume days.

Pursuant to the terms of the agreement, the bonds are converted into 24,006,622 new shares in the Company at a conversion price of NOK 0.604. Accordingly, the Company's share capital will be increased by NOK 14,403,973.20 through the issuance of 24,006,622 new shares upon registration of the share capital increase in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret).

Following completion and registration of the bond conversion, the Company's total share capital will amount to NOK 86,175,445.20, divided into 143,625,742 shares, each with a nominal value of NOK 0.60 (including the conversions announced by the Company on 6, 15 and 17 October).