Oslo ,22 February 2023 REVISED STRATEGYCarbon Transition comprises an OBN multi-client company and an investment arm. The company generates revenues from multi-client seismic data and may do select investments in listed companies as well as companies expected to be listed in the near term. Investments must meet the criteria for risk and return set by the board of directors. EVENTS DURING THE QUARTER o Fair value of multi-client libraryUSD 37.5 million o Includes second write-up of Utsira survey ofUSD 7.0 million o Total multi-client write-ups year-to-date ofUSD 12.6 million o Announced reprocessing of the Utsira survey, backed by the major operators in the area oUSD 2.5 million Utsira late sale (net toCarbon Transition ) with significant additional future revenues based on agreed trigger events o Non-cashUSD 4.3 million write-down of investment portfolio o Write-down of Britishvolt investment primary contributor o InvestedUSD 1.7 million (NOK 15.2 million ) o Cash earningsUSD 1.9 million for the quarter o Available liquid funds ofUSD 11.2 million * o Net asset valueNOK 2.00 per share * Bank deposits, trade receivable and marketable securities A pre-recorded presentation of the results featuring Interim CEO and CFO,Nils Haugestad , is available at www.carbn.no. The fourth quarter 2022 report and presentation will be available atCarbon Transition ASA (www.carbn.no) andOslo Stock Exchange (www.newsweb.com). For further information, please contact:Nils Haugestad Interim CEO & CFO nils.haugestad@carbn.no +47 977 04 439 AboutCarbon Transition Carbon Transition ASA ("CARBN") is an investment company listed on Euronext Expand. CARBN comprises an OBN multi-client company and an investment arm. The company may invest broadly in listed companies as well as companies expected to be listed in the near term. More information on www.carbn.no
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