NEXT Biometrics Group ASA - Private Placement successfully placed

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ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 26 September 2023: Reference is made to the stock exchange announcement
published by NEXT Biometrics Group ASA (OSE: NEXT) ("NEXT" or the "Company")
earlier today, 26 September 2023, regarding the launch of a private placement of
new shares in the Company (the "Offer Shares") to raise gross proceeds of
between NOK 40 - 60 million (the "Private Placement").

The Company is pleased to announce that the Private Placement has been
successfully placed, and that its board of directors (the "Board") has allocated
12,000,000 Offer Shares at a subscription price of NOK 5.00 per Offer Share (the
"Subscription Price"), raising NOK 60 million in gross proceeds. 

The net proceeds to the Company from the Private Placement will be used to
ensure a healthy balance sheet and meet working capital requirements due to
substantial orders.

Notification of allocation is expected to be sent to the applicants by the
Manager before 09:00 hours (CEST) on 27 September 2023.

Fjellstad Holding AS, a close associate of primary insider and chair of the
Board, Petter Fjellstad, subscribed for and was allocated 200,000 Offer Shares.

The share capital increase pertaining to the issuance of the Offer Shares was
resolved by the Company's Board at a board meeting held today, on 26 September
2023, based on the authorisation granted by the Company's annual general meeting
held on 12 May 2023.

The completion of the Private Placement is subject to (i) the pre-payment
agreement referred to below remaining in full force and effect, and (ii) the
share capital increase pertaining to the issuance of the allocated Offer Shares
being validly registered with the Norwegian Register of Business Enterprises
(the "NRBE") and the allocated Offer Shares being validly issued and registered
in the Norwegian Central Securities Depository (Euronext Securities Oslo or the
"VPS").

The Offer Shares allocated in the Private Placement are expected to be settled
on a delivery versus payment (DvP) basis on or about 29 September 2023,
following the share capital increase pertaining to the Offer Shares being
registered with the NRBE, expected on or about 28 September 2023. The DvP
settlement will be facilitated by a pre-payment agreement between the Company
and the Manager. The Offer Shares cannot be traded on the Oslo Stock Exchange
before the share capital increase pertaining to the issuance of the Offer Shares
has been registered with the NRBE. The Company will announce when such
registration has taken place, and the Company expects that the Offer Shares will
commence trading on the Oslo Stock Exchange on or about 28 September 2023.

The Board has considered the Private Placement in light of the equal treatment
obligations under the Norwegian Public Limited Companies Act, the rules of equal
treatment set out in the continuing obligations for companies admitted to
trading on the Oslo Stock Exchange and the guidelines on the rules of equal
treatment, and is of the opinion that the proposed Private Placement is in
compliance with these requirements.

The Board is of the view that it is in the common interest of the Company and
its shareholders that the Company raise equity through the Private Placement.
The Board has when reaching this conclusion inter alia emphasised that the
transaction structure will allow for the Company to raise new equity in a time
and cost efficient manner, with limited execution risk. The allocated Offer
Shares constitute a small share of the current outstanding share capital with
limited dilution to existing shareholders. The Offer Price has been set on the
basis of indications from wall-crossed investors and represents a limited
discount compared to the closing price quoted on the Oslo Stock Exchange today.

The Board has also considered whether it is necessary to implement a subsequent
offering in order to further justify the different treatment inherent in the
Private Placement. The Board noted in this respect the small discount in the
Private Placement compared to market price of the Company's shares, the limited
increase of the share capital represented by the Private Placement and the costs
and resources associated with a subsequent offering (e.g a prospectus). On this
basis, the Board has concluded not to implement a subsequent offering.

This information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act.

Pareto Securities AS acted as sole manager and sole bookrunner (the "Manager")
in connection with the Private Placement. Advokatfirmaet Thommessen AS is acting
as legal counsel to the Company in connection with the Private Placement.

For further information, please contact:
Peter Heuman, CEO
Email: [e-mail]

Eirik Underthun, CFO
Email: [e-mail]

About NEXT Biometrics:
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the smart cards
government ID, access control and notebook markets. The company's patented NEXT
Active Thermal TM principle allows the development of large, high quality
fingerprint sensors both rigid and flexible formats. NEXT Biometrics Group ASA
(www.NEXTBiometrics.com) is headquartered in Oslo, with sales, support and
development operations in Seattle, Taipei, Bengaluru and Shanghai. 

This stock exchange announcement was published by Eirik Underthun, CFO at NEXT
Biometrics Group ASA, on 26 September 2023, at 23:33 hours (CEST).

IMPORTANT NOTICE:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and accordingly may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and in accordance with applicable U.S.
state securities laws. The Company does not intend to register any part of the
offering in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the U.S. Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 as amended (together with any
applicable implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond its control. Such risks,
uncertainties, contingencies and other important factors could cause actual
events to differ materially from the expectations expressed or implied in this
release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. 

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither the Manager nor any of its affiliates makes any representation as to the
accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the Manager
nor any of its affiliates accepts any liability arising from the use of this
announcement.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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