Update regarding the subsidiary Pallas Energy etc.

The investment in the subsidiary Pallas Energy AB is developing well. Among other things, the company has recruited a new trader who will focus on biofuels. In addition, the company has expanded its storage capacity by entering into a longer lease agreement for a fuel depot with tanks in the port of Trelleborg.

A milestone has also been reached as Pallas has delivered its first shipload of HVO biodiesel to one of its customers in Scandinavia.

In addition to existing investments, Energifonden has also invested in a Norwegian shipping company that owns a modern Kamsarmax vessel designed to transport coal. This is a product that is increasing in different parts of the world and Energifonden strongly believes in coal to produce cheap energy.

Energifonden is also currently in negotiations regarding further acquisitions and investments in various energy companies/energy projects. When these are finalized, they will be communicated separately.

In order to reach more interesting energy companies and projects and at the same time be closer to the majority of its customers and partners, Energifonden has established a new subsidiary and office in London, England. The office is located in Kensington next to Hyde Park.

Fredrik M. Johansson CEO Energifonden Sverige AB