Supplement to prospectus regarding invitation to subscribe for shares in Ripasso Energy AB (publ).

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Arabella Burke
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Prospectus refer to the Swedish-language Supplementary Prospectus.

1 Supplement to prospectus regarding invitation to subscribe for shares in Ripasso Energy AB (publ). 12 December 2017 This document is an unofficial English translation of the Swedish-language supplement to prospectus and references to the Supplementary Prospectus refer to the Swedish-language Supplementary Prospectus. In the event of any discrepancies, the Swedish-language Supplementary Prospectus shall prevail. Any investment decision shall be based on the Swedish-language Supplementary Prospectus. The Company takes no responsibility for investments based on this translation. This translation has not been reviewed by Finansinspektionen.

2 Contents 1 About the Supplement to the Prospectus Supplement to the Prospectus

3 1 About the Supplement to the Prospectus Distribution of this supplementary prospectus and subscription of shares are subject to certain restrictions, see "Important information" in the Prospectus. This supplement (the "Supplementary Prospectus") has been prepared by Ripasso Energy AB (publ) (the Company") as a supplement to the prospectus approved and registered by Finansinspektionen on 1 December 2017 (Finansinspektionen s reference number (sv. diarienummer) ) and published by the Company the same day (the "Prospectus"). The Supplementary Prospectus is a part of, and shall be read together with, the Prospectus. The definitions contained in the Prospectus also apply to the Supplementary Prospectus. The Supplementary Prospectus has been prepared due to the fact that the Company on 4 December 2017, by a press release, announced that that the Company had received additional subscription commitments in the New Share Issue. The definitions used in this Supplementary Prospectus follows the Prospectus, unless otherwise stated. The Supplementary Prospectus has been prepared in accordance with Chapter 2 Section 34 of the Swedish Financial Instruments Trading Act (1991: 980) (Sv. Lag (1991:980) om handel med finansiella instrument) and was approved and registered by Finansinspektionen on 12 December 2017 (Finansinspektionen s reference number (sv. diarienummer) ). The Supplementary Prospectus was published on 12 December Investors who prior to the publication of this Supplementary Prospectus have applied for or otherwise consented to subscription of New Shares in the New Share Issue are pursuant to Chapter 2 Section 34 of the Swedish Financial Instruments Trading Act (1991: 980) entitled to withdraw his or her application or consent within two business days from the publication of the Supplementary Prospectus, that is, until 14 December Revocation must be made in writing to Eminova Fondkommission AB, Biblioteksgatan 3 3, Stockholm, or by to info@emminova.se. Investors who have subscribed for New Shares through a nominee shall contact their nominee for revocation. Application that is not withdrawn within the specified time frame will remain binding and investors who do not wish to withdraw their application for subscription of New Shares need not to take any action. For full terms and information about the New Share Issue see the Prospectus, which together with the Supplementary Prospectus is available on the Company's website, ww.w.ripassoenergy.com. 3

4 2 Supplement to the Prospectus In the Prospectus, the following supplements shall be made: In the section "Summary", sub-section "B.11 Insufficient working capital" on page in the Prospectus, the third paragraph and table below it shall be replaced by the following: In connection with the New Share Issue, the Company has received subscription commitments amounting to approximately MSEK 70, equivalent to approximately 76 percent of the issue amount. Subscription commitments has been received from the following subscribers: Name Amount Percentage of the issue Benedict Morgan MSEK 0.5 Approx. 0.5% Dr Gerd Jacob MSEK 0.5 Approx. 0.5% Erik Wigertz MSEK 2.5 Approx. 2.7% East Guardian SPC MSEK 50 Approx. 54.5% Miura Holding Limited Approx. MSEK 16.5 Approx. 17.9% Total Approx. 70 MSEK Approx. 76 % In the section "Summary", sub-section "D.1 Principal risks specific to the issuer" under the heading Unsecured subscription commitment on page 15 in the Prospectus, the text shall be replaced by the following: East Guardian SPC, Miura Holding Limited, Benedict Morgan, Erik Wigertz and Dr Gerd Jacob have committed to subscribe for New Shares in the New Share Issue; under these commitments approximately 76 percent of the New Share Issue is covered by a subscription commitments. However, these subscription commitments are not secured through restricted bank funds or other collateral. There is therefore a risk that the New Share Issue will not be fully subscribed, and that the parties will be unable to fulfil their subscription commitments. This may have an adverse effect on the Company s ability to carry out the New Share Issue or to raise the desired proceeds through the New Share Issue. In the section "Summary", sub-section "E.5 Sellers of securities and lock-up arrangements" on page 17 in the Prospectus, the text shall be replaced by the following: Miura Holding Limited has undertaken to not dispose of 2,320,255 shares for a period of six months from the day that the New Shares are booked into their VP-account. In the section "Risk factors" under the heading "Unsecured subscription commitment" on page 20 in the Prospectus, the text shall be replaced by the following: East Guardian SPC, Miura Holding Limited, Benedict Morgan, Erik Wigertz and Dr Gerd Jacob have committed to subscribe for New Shares in the New Share Issue; under these commitments approximately 76 percent of the New Share Issue is covered by a subscription commitments. However, these subscription commitments are not secured through restricted bank funds or other collateral. There is therefore a risk that the New Share Issue will not be fully subscribed, and that the parties will be unable to fulfil their subscription commitments. This may have an adverse effect on the Company s ability to carry out the New Share Issue or to raise the desired proceeds through the New Share Issue. 4

5 In the section "Invitation to subscribe for shares in Ripasso Energy AB (publ)" on page 23 in the Prospectus, the fourth paragraph shall be replaced by the following: The Company has received written subscription commitments from East Guardian SPC, Miura Holding Limited, Benedict Morgan, Erik Wigertz and Dr Gerd Jacob to the amount of approximately MSEK 70, corresponding to approximately 76 percent of the issue amount. The Company will not pay any remuneration for these subscription commitments. In the section "Forms and conditions" on page 27 in the Prospectus, the first paragraph shall be replaced by the following: On 1 November 2017, the Board of Directors of Ripasso Energy AB (Corporate ID no ) resolved, acting with the authorisation of the annual general meeting held on 27 April 2017, to carry out a new share issue with preferential rights for existing shareholders. The issue involves a maximum of 18,347,312 shares, through which the Company may raise SEK 91,736,560 if fully subscribed. The New Share Issue is underwritten through subscription commitments in an amount of MSEK 70. In the section "Equity, liabilities and other financial information" under the heading "Statement of capital requirements and financing" on pages in the Prospectus, the second paragraph shall be replaced by the following: In connection with the New Share Issue, the Company has received subscription commitments amounting to approximately MSEK 70, equivalent to approximately 76 percent of the issue amount. The Company has not received, nor requested, restricted funds or any other collateral for the above described subscription commitments in connection with the New Share Issue. Remuneration for this subscription commitment is not payable by the Company. In the section "Shares, share capital and ownership strcuture" under the heading "Share issue" on page 54 in the Prospectus, the text shall be replaced by the following: On 1 November 2017, the Company disclosed the Board s decision, based on the authorisation granted by the annual general meeting on 27 April 2017, to conduct a share issue with preferential rights for existing shareholders. Each shareholder receives three (3) subscription rights for each (1) share held. Ten (10) subscription rights entitle their holder to subscribe for one (1) share Subscriptions are open from the period from 4 December 2017 up to and including 15 December The Board is entitled to extend the subscription and payment period. Subscription takes place by payment. The subscription price per share amounts to SEK 5, and the number of newly issued shares will be no more than 18,347,312, entailing a maximum share capital increase of SEK 183, In the event of full subscription of the New Share Issue, the Company will raise proceeds before issue costs in the amount of SEK 91,736,560. The issue is underwritten by subscription commitments in the amount of approximately MSEK 70, corresponding to approximately 76 percent of the maximum amount of the issue. Remuneration for these subscription commitments are not payable by the Company. In the event that the New Share Issue is fully subscribed, shareholders not participating in the New Share Issue will see their equity and voting rights in the Company diluted by approximately 23 percent. In the section "Legal issues and supplementary information" under the heading "Subscription commitment" on page 67 in the Prospectus, the text shall be replaced by the following: In connection with the New Share Issue, the Company has received subscription commitments amounting to approximately MSEK 70, equivalent to approximately 76 percent of the issue amount. Dagny OÜ and AC Cleantech Growth Fund I Holding AB have entered into agreements with some of the parties who have made subscription commitments meaning that these 5

6 subscribers will gratuitously receive subscription rights from Dagny OÜ and AC Cleantech Growth Fund I Holding AB for making subscription commitments to the Company. Dagny OÜ will in total transfer 83,979,750 subscription rights (which constitutes all of its awarded subscription rights) and AC Cleantech Growth Fund I Holding AB will in turn transfer 23,020,250 subscription rights (constituting 57 percent of its awarded subscription rights). Further, AC Cleantech Growth Fund I Holding AB and Estreet AB have entered into agreement regarding disposal of subscription rights with Miura Holding Limited against the fact that Miura Holding Limited in turn will make subscription commitments to the Company corresponding to the amount of subscription rights acquired and the amount of subscription rights Miura Holding Limited are awarded due to its previous holdings. AC Cleantech Growth Fund I Holding AB will transfer 17,202,250 subscription rights (which constitutes 43 percent of its awarded subscription rights) and Estreet AB will in turn transfer 6,000,000 subscription rights (constituting all of its awarded subscription rights). However, the Company have no obligations or costs associated with these agreements. Subscription commitments have been received from the following subscribers: Name Amount Percentage of the issue Benedict Morgan MSEK 0.5 Approx. 0.5% Dr Gerd Jacob MSEK 0.5 Approx. 0.5% Erik Wigertz MSEK 2.5 Approx. 2.7% East Guardian SPC MSEK 50 Approx. 54.5% Miura Holding Limited Approx. MSEK 16.5 Approx. 17.9% Total Approx. MSEK 70 Approx. 76 % The Company have not received, or requested, restricted funds or any other collateral for the above described subscription commitments in connection with the New Share Issue. Gothenburg 12 December 2017 Ripasso Energy AB (publ) The Board of Directors 6

Invitation to subscribe for shares in Ripasso Energy AB (publ) December 2017

Invitation to subscribe for shares in Ripasso Energy AB (publ) December 2017 This document is an unofficial English translation of the Swedish-language Prospectus and references to the Prospectus refer