NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

(Oslo, 13 October 2020): Kahoot! AS ("Kahoot!" or the "Company") is pleased to
announce that it has completed a private placement to a subsidiary of SoftBank
Group Corp. ("SoftBank"), through issuance of 43,000,000 new shares, at a price
of NOK 46 per share, raising NOK 1,978 million (appr. USD 215 million) in gross
proceeds to the Company (the "Private Placement"). 

The Private Placement was resolved by the Company's Board of Directors (the
"Board") on 13 October 2020 pursuant to the authorization granted to the Board
by the general meeting of the Company on 28 September 2020. 

Kahoot! is experiencing strong momentum and accelerated adoption as enterprises
increasingly seek engaging, trustworthy and user-friendly ways to build
corporate culture, educate and interact. At the same time, schools and educators
are looking to enhance the learning experience, whether virtually or in the
classroom. The Company intends to use the net proceeds from the Private
Placement to finance accelerated growth through value-creating non-organic
opportunities and continue to build a unique platform company.

The Private Placement implies a deviation from the existing shareholders'
pre-emptive rights to subscribe for and be allocated new shares. SoftBank was
not a shareholder in Kahoot! prior to the Private Placement and the transaction
is in compliance with the equal treatment obligations under the continuing
obligations of companies admitted to trading on Merkur Market and Oslo Børs'
Circular no. 2/2014. The Board has, when making its resolution to complete the
Private Placement, emphasized that SoftBank will strengthen the Company's
shareholder base as an investor with deep expertise and experience owning and
developing software companies. Further, the Private Placement involves limited
financial dilution to existing shareholders, which the Board considers as
justifiable when taking into account the expected contribution of the Private
Placement to the long-term success of the Company. The Board is of the view that
the Private Placement is in the common interest of the Company and its
shareholders. 

Payment for the new shares shall be made on 14 October 2020, and the new shares
will be issued as soon as the share capital increase in the Company pertaining
to the issuance of the new shares has been registered in the Norwegian Registry
of Business Enterprises.

Following registration of the capital increase pertaining to the Private
Placement, the Company's share capital will be NOK 44,360,522.60 divided into
443,605,226 shares, each with a nominal value of NOK 0.10. SoftBank will own
43,000,000 shares representing 9.69% of the total number of shares in issue.

SoftBank has entered into an agreement with the Company pursuant to which it has
undertaken for a period of 6 months from completion of the Private Placement not
to increase its ownership interest in the Company to 10% or more of the total
number of shares in the Company. The Company may waive SoftBank's obligations
under the stand-still agreement at any time.

ABG Sundal Collier ASA, Arctic Securities AS and Goldman Sachs International
(collectively, the "Managers") are placement agents to Kahoot! and
Advokatfirmaet Thommessen AS is legal counsel to Kahoot! in connection with the
Private Placement.


For further information, please contact:

Eilert Hanoa, CEO
Phone: +47 92 83 29 05 
Email: eilerth@kahoot.com

Ken Østreng, CFO
Phone: +47 911 51 686
Email: keno@kahoot.com 

About Kahoot! AS 
Kahoot! is on a mission to make learning awesome! We want to empower everyone,
including children, students, and employees to unlock their full learning
potential. Our game-based learning platform makes it easy for any individual or
corporation to create, share, and play learning games that drive serious
engagement. In addition, our family of apps takes math learning to a new level
and empowers children to learn to read through play. Launched in 2013, Kahoot!'s
vision is to build the leading learning platform in the world. In the last 12
months, more than 200 million games have been played on the Kahoot! platform
with over one billion participating players in 200 countries. The company is
headquartered in Norway with offices in the US, the UK, France, Finland, Denmark
and Spain. Let's play! 

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important information: The release is not for publication or distribution, in
whole or in part directly or indirectly, in or into Australia, Canada, Japan or
the United States (including its territories and possessions, any state of the
United States and the District of Columbia). This release is an announcement
issued pursuant to legal information obligations, and is subject to the
disclosure requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act. It is issued for information purposes only, and does not constitute
or form part of any offer or solicitation to purchase or subscribe for
securities, in the United States or in any other jurisdiction. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "US Securities Act"). The
securities may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the US Securities Act. The
Company does not intend to register any portion of the offering of the
securities in the United States or to conduct a public offering of the
securities in the United States. Copies of this announcement are not being made
and may not be distributed or sent into Australia, Canada, Japan or the United
States. 

The issue, subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Managers assume any responsibility in the event there is a
violation by any person of such restrictions. 

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction. 

The Managers are acting for the Company and no one else in connection with the
Private Placement and will not be responsible to anyone other than the Company
for providing the protections afforded to their respective clients or for
providing advice in relation to the Private Placement and/or any other matter
referred to in this release. 

Forward-looking statements: 
This release and any materials distributed in connection with this release may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect the Company's
current expectations and assumptions as to future events and circumstances that
may not prove accurate. A number of material factors could cause actual results
and developments to differ materially from those expressed or implied by these
forward-looking statements.

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