Huddlestock Fintech AS (OSE: HUDL) Accelerating growth and upgrading our regulatory license to deliver end-to-end services.

PRESS RELEASE

(Stavanger, NORWAY - 17 December 2021) Huddlestock Fintech AS (OSE: HUDL)
Accelerating growth and upgrading our regulatory license to deliver end-to-end
services.

Huddlestock Fintech AS (the "Company") has positioned itself as a leading
Fintech infrastructure provider for banks and financial institutions in Europe. 
In 2022, the Company is embarking on the next strategic step, accelerating
growth, scaling up operations and upgrading our regulatory license.  Achieving a
full investment banking license will enhance the Company's client service
offering as an end-to-end provider of fully embedded trading and investment
services, alongside its world-class expert professional services business. 
Huddlestock has more than 35 employees across the largest cities in the Nordics
and Germany, with an estimated consolidated revenue in the range of NOK 38-41
million for 2021.  

"A full Investment Banking license, regulated throughout Europe, will position
our company uniquely as one of a few Fintech's providing end-to-end solutions
for trading and investment infrastructure. We will be able to onboard more end
clients, much faster, more efficient, and hold client assets in our own custody.
It will give us full control of our proprietary ecosystem and geographical
expansion plans. This is a big step up for a European Fintech and will increase
our margins significantly in the medium to long-term. We are entering a new
league," says John E. Skajem, Group CEO, Huddlestock Fintech.  

To support the company's growth plans, the Board of Directors of Huddlestock
Fintech AS are pleased to announce the successful completion of a private
placement (the "Private Placement") for the subscription of 9.440.465 newly
issued Huddlestock ordinary shares (the "New Shares" and each a "New Share"). 
The Private Placement was underwritten by a guarantee consortium of investors
for NOK 15.000.000. As consideration for the guarantee, the consortium has been
issued one unregistered warrant per share subscribed to in the Private Placement
free of charge, valid for a duration of 12 months and with a strike price of NOK
3,50 per share.  The gross proceeds amount to NOK 24.545.207. The subscription
price was NOK 2.60 per share (the "Private Placement Offer Shares").  

The gross proceeds of approximately NOK 25 million provides Huddlestock with
adequate funds to accelerate growth and scale up our German and Nordic
operations, proceed with the application of a full investment banking license in
Germany, and sufficient working capital, liquidity, and growth capital for the
foreseeable future.

"We are excited to welcome several new long-term shareholders to Huddlestock
Fintech.  Alongside our existing core shareholder group, their investment is a
strong confirmation of our long-term strategy and positioning in the market. 
The added capital will significantly improve our flexibility to serve our
clients in a better and more efficient way.  We look forward to working with
them as part of the Company's long-term core investors," says Øyvind Hovland,
Chairman, Huddlestock Fintech Group.

Primary insiders of Huddlestock Fintech AS, the Executive Management Team and
Board Members, have subscribed to new shares in the Private Placement.  Details
of transactions pertaining to primary insiders will be made in due course.

Following registration of the share capital increase pertaining to the Private
Placement, the Company will have a share capital of NOK 244.611,6012, divided
into 128.742,948 shares, each with a nominal value of NOK 0,0019.

The Private placement was led by Huddlestock Fintech AS. Advokatfirmaet Arntzen
de Besche AS is acting as legal counsel to the Company.  DNB Registrars
Department is acting as Settlement Agent.


This information is subject to the disclosure requirements according to Section
5-12 of the Norwegian Securities Trading Act.  The information included in this
announcement is defined as inside information pursuant to the EU Market Abuse
Regulation article 7 and is publicly disclosed in accordance with MAR article
17.

To see all press and investor releases please have a look in the investor
relations section of our corporate website
www.huddlestock.com/investor-relations 

For further information, please contact: 

CONTACTS:

John E. Skajem, CEO, [phone], [e-mail] 
Cecilia Luras, Director of Strategy & IR, [phone], [e-mail] 


About Huddlestock Fintech:

Huddlestock Fintech delivers innovative technology solutions to the capital
markets, treasury and wealth management industries. 

Through its technology offering, Huddlestock offers an innovative, compliant,
and data-centric WealthTech SaaS, accelerating the digital transformation, and
trends of hyper-personalization and on-demand banking within the wealth
management industry. Huddlestock's SaaS empowers the embedding of low-cost,
efficient white-label trading and investment services, underpinning
Huddlestock's mission of delivering financial inclusion by democratizing access
to capital markets.

Through its world-class expert professional services business, Huddlestock
delivers strategic technology solutions and process automation for the financial
services industry. This range of services has propelled Huddlestock into
becoming the preferred supplier of financial consultancy services and technology
solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext
Growth Market 26 November 2020, as Norway's first fintech company to be publicly
traded. 

For more information, please visit www.huddlestock.com


The announcement is made by the contact persons set out above.

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