(Lysaker, Norway, February 12th 2023) (OSE: TECO, OTCQX: TECFF, ISIN:
NO0010887516) 

Option holders under TECO 2030 ASA's share incentive program have today
exercised a total of 226,667 options at an exercise price of NOK 4.00 per share.
The exercised options will be settled by issuance of new shares. 

Amongst the option holders exercising shares, there is one primary insider;
- Pia Meling, Board member, exercised 50,000 options. She still holds another
100,000 options in addition to 3,220 shares in the Company. 

All the exercised options have been granted in accordance with the Company's
share option program.

For further information, please contact:
Tore Enger, Group CEO, +47 920 83 800, tore.enger@teco2030.no. 
Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no.

About:
TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM
fuel cell stacks and modules in Narvik, Norway. The production capacity will be
built up through 2023 and early 2024, targeting an output capacity of 120 MW of
fuel cells in 2024, 400 MW in 2025 and 1.6 GW in 2030. TECO 2030 is a Norwegian
based clean tech company developing zero-emission technology for the maritime
and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM
hydrogen fuel cell modules, that enable ships and other heavy-duty applications
to become emissions-free. The company is listed on Euronext Growth on Oslo Stock
Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF.
TECO2030 is a spinoff from TECO Maritime Group, a group that has provided
technology and services to the global shipping industry since 1994. For more
information, please visit www.teco2030.no.

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© Oslo Bors ASA, source Oslo Stock Exchange