Reference is made to the stock exchange announcement made by Zelluna ASA (the "Company") on 3 November 2025 regarding the allocation of 5,500,000 new shares in the Company in a private placement (the "Private Placement"), divided on a first tranche of 3,729,774 new shares ("Tranche 1") and a second tranche of 1,770,226 new shares, and the allocation of 315,639 new shares in a retail offering via the PrimaryBid Platform (the "Retail Offering").
Gjelsten Holding AS has subscribed 341,938 new shares in connection with the Private Placement of shares in Tranche 1 and in the Retail Offering, resulting in Gjelsten Holding crossing the 5% threshold under section 4-2 of the Norwegian Securities Trading Act, and its shareholding will be 1,356,910 shares, equal to 5.54% of the total number of shares and votes in the Company.
This disclosure is made pursuant to Section 4-2 of the Norwegian Securities Trading Act.