Oslo ,10 November 2023 Reference is made to the stock exchange announcement on9 October 2023 regarding the settlement of the recommended voluntary offer (the "Offer") by Kangaroo BidCo AS (the "Offeror") to acquire all outstanding shares inKahoot! ASA ("Kahoot !") for a cash consideration ofNOK 35.00 per share (the "Offer Price "). In accordance with the terms of the Share Options (as defined below) and the Transaction Agreement (as further described in the stock exchange announcement on14 July 2023 ), all share options (the "Options") and restricted stock units (the "RSUs" and together with the Options, the "Share Options") that have vested prior to, or are scheduled to vest in the first 365 calendar days following the completion of the Offer, except the Options with a strike price equal to or above the Offer Price (the "Relevant Share Options"), shall be settled byKahoot ! in connection the completion of the Offer. All other Share Options will be cancelled. The Relevant Share Options shall be settled in cash at a price equal to, in the case of the Options, the difference between the Offer Price and the strike price under the relevant Option, and in the case of RSUs, the difference between the Offer Price and the nominal value of theKahoot ! shares. Settlement to holders of Relevant Share Options with a bank account inNorway will be provided today, and settlement to holders of Relevant Share Options with a bank account outside ofNorway will be provided as soon as practicable possible. In connection with the settlement of the Relevant Share Options, the following Relevant Share Options held by primary insiders will be settled: oEilert Hanoa (CEO): 712,499 Options for a total ofNOK 10,562,237 and 187,499 RSUs for a total ofNOK 6,543,715 o Åsmund Grytting Furuseth (CPO): 93,749 Options for a total ofNOK 1,218,737 , and 93,749 RSUs for a total ofNOK 3,271,840 o Jostein Nydahl Håvaldsrud (CTO): 177,082 Options for a total ofNOK 2,385,399 and 93,749 RSUs for a total ofNOK 3,271,840 . o Lars Erik Grønntun (COO): 749,999 Options for a total ofNOK 11,281,237 and 93,749 RSUs for a total ofNOK 3,271,840 . o Ken Østreng (CFO): 618,749 Options for a total ofNOK 11,193,737 and 93,749 RSUs for a total ofNOK 3,271,840 . oElizabeth Kleive (CXO): 78,750 Options for a total ofNOK 1,327,500 and 33,750 RSUs for a total ofNOK 1,177,875 . oJulie Wessel (VP Corporate development): 176,250 Options for a total ofNOK 3,730,950 , and 56,250 RSUs for a total ofNOK 1,963,125 . oRanjit Mahida (General Counsel): 56,250 Options for a total ofNOK 785,500 and 56,250 RSUs for a total ofNOK 1,963,125 . oJonas Forslund (Director Investor Relations): 22,499 Options for a total ofNOK 292,487 and 22,499 RSUs for a total ofNOK 785,215 oAndreas Hansson (chairman): 84,244 RSUs for a total ofNOK 2,940,116 . oChrister Stefan Blom (board member): 300,000 Options for a total ofNOK 2,100,000 and 84,244 RSUs for a total ofNOK 2,940,116 . oJoanne Kuhn Bradford (board member): 84,244 RSUs for a total ofNOK 2,940,116 . oLori Varner Wright (board member): 84,244 RSUs for a total ofNOK 2,940,116 . oCharlotte Kristiansen (employee representative of the board of directors): 12,106 Options for a total ofNOK 163,003 and 5,625 RSUs for a total ofNOK 196,313 . oAlexander Remen (employee representative of the board of directors): 176,250 Options for a total ofNOK 4,730,850 and 56,250 RSUs for a total ofNOK 1,963,125 . o Iryna Zelenetska (deputy employee representative of the board of directors): 12,106 Options for a total ofNOK 163,003 and 5,625 RSUs for a total ofNOK 196,313 . oMarius Midttun (deputy employee representative of the board of directors): 17,749 Options for a total ofNOK 449,105 and 3,749 RSUs for a total ofNOK 130,840 . Following the cash settlement of the Relevant Share Options and cancellation of all other Share Options, the above primary insiders no longer hold any Options or RSUs inKahoot !. Required notifications are attached to this stock exchange announcement. For further information please contact: Ken Østreng, CFO Phone: +47 911 51 686 Email: keno@kahoot.comJonas Forslund , Director Investor Relations Phone: +358 40 595 0968 Email: jonasf@kahoot.com This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of theNorwegian Securities Trading Act.
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