Oslo, Norway ,15 May 2024 : Reference is made to the stock exchange announcement byNorsk Titanium AS (the "Company") on29 April 2024 regarding a private placement of new shares to be issued by the Company (the "Private Placement"). Scatec Innovation AS has agreed to lend existing and unencumbered shares in the Company, already being traded on Euronext Growth Oslo, to the managers for the Private Placement. Borrowed shares will be used for settlement towards investors having been allocated shares in the Private Placement and redelivered toScatec Innovation AS upon registration of the share capital increase pertaining to the Private Placement. Pursuant to the share lending arrangement, the managers have borrowed a total of 56,296,370 shares from Scatec Innovation AS to settle tranche 2 of the Private Placement. Scatec Innovation AS is a company closely associated withJohn Andersen , who is the chairman of the Company's board of directors. Please see the attached notification of trade for information regarding the lending of shares in the Private Placement by a close associate of a primary insider. The board of directors will resolve the share capital increase pertaining to the issuance of shares when the authorisation to do so, as resolved by the annual general meeting, is registered in theNorwegian Register ofBusiness Enterprises , expected take place on or about15 May 2024 . The shares allocated to investors in tranche 2 of the Private Placement will be tradable subject to the resolution by the board of directors to issue the shares in tranche 2. The shares allocated in tranche 2 cannot be traded before the resolution by the board of directors has been made. For more information, please contact:Ashar Ashary , CFO Norsk Titanium AS Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966 This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
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