Renewable Ventures Nordic AB enters into agreement for a reverse acquisition of Xer Tech AB - a fast-growing defense tech company in hybrid electric UAV systems

About this update from Rex International Holding Ltd.

Renewable Ventures Nordic ABRenewable Ventures Nordic AB (publ) ("RVN" or the "Company") has today entered into an agreement with Rex Technology Investments Pte. Ltd. ("RTI"), currently the owner of all shares in Xer Tech AB ("Xer Tech"), to acquire all shares in Xer Tech (the "Transaction"). Xer Tech is a defense tech company specialized in the development and sales of hybrid electric UAVs (drones) with both defense and civilian applications. The Transaction is, among other things, conditional upon approval at an extraordinary general meeting, Spotlight Stock Market ("Spotlight") approving continued listing, approval from the Swedish Inspectorate of Strategic Products (ISP), RTI obtaining an exemption from the mandatory bid obligation, and Rex International Holding Limited, owner of RTI, receiving shareholders' approval for the Transaction (if required) and approval from the Singapore Exchange Securities Trading Limited for the Transaction. Furthermore, as part of the Transaction, RVN will carry out a directed new share issue, subject to approval at an extraordinary general meeting, of approximately SEK 80 million to a number of new investors and existing shareholders. Notice to the extraordinary general meeting will be announced in a separate press release.About Xer TechXer Tech is a technology company focused on developing and selling hybrid electric long-range UAVs for dual-use applications— both in the defense and commercial sectors. Through a proprietary hybrid engine, a modular platform with AI integration, and field-proven technology for demanding environments, Xer Tech combines the cost advantages and flexibility of drones with performance comparable to traditional helicopters or other larger systems. The proprietary hybrid system enables a flight time of over 2.5 hours with a heavy payload, even in difficult temperature and wind conditions.Xer Tech is in commercialization phase but already has established customers and partnerships with multinational companies and technology and defense conglomerates, as well as defense customers in the UK, Switzerland, and several NATO countries.For further information about Xer Tech, please see www.xer-tech.com.The global market for UAVs is experiencing strong growth, driven by increased demand for safe, cost-effective, and intelligent alternatives to helicopters and traditional aircraft. Xer Tech addresses a ...

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