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

Valoe Corporation         Stock Exchange Release         22 August 2023 at 18.30 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 and interest amount of the RiverFort financing arrangement into the shares in the Company at conversion price of EUR 0.02033 per share. The conversion shall be executed by transferring a total of 1 treasury 4,918,839 shares to RiverFort.

After the above-mentioned transfer, Valoe will have in total 52,901,485 treasury shares.

In Mikkeli 22 August 2023

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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