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Conversion of Loans Into Shares Pursuant to Financing Arrangement Between Valoe Corporation and Riverfort

December 16, 2022

Valoe Corporation         Stock Exchange Release         16 December 2022 at 11.30 Finnish time The Board of Directors of Valoe Corporation (the "Company") has, pursuant to the terms and conditions of the financing arrangement between Valoe Corporation and RiverFort Global Opportunities Pcc Limited (“RiverFort”) announced on 30 July 2021, resolved to approve the request of RiverFort to convert a proportion of EUR 100,000.00 of the outstanding principal amount of the RiverFort financing arrangement into the shares in the Company at conversion price of EUR 0.03411 per share. The conversion shall be executed by transferring a total of 2,932,121 treasury shares to RiverFort. After the above-mentioned transfer, Valoe will have in total 26,425,272 treasury shares. In Mikkeli 16 December 2022 Valoe Corporation Board of Directors For more information: Iikka Savisalo, President and CEO, Valoe Corporation Tel. +358 40 521 6082email: iikka.savisalo@valoe.com Distribution:NASDAQ OMX, Helsinki Main media www.valoe.com Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.

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