Information about the warrants issued in connection with the Rights Issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Oslo, Norway, 4 March 2024: Reference is made to the stock exchange announcement
by Norsk Titanium AS (the "Company") on 29 February 2024, regarding the
registration of new share capital following completion of the rights issue
raising gross proceeds of approx. NOK 188.3 million (the "Rights Issue"). The
subscribers in the Rights Issue have been allocated one warrant for every two
Offer Shares allocated to them and paid by them in the Rights Issue. The Rights
Issue resulted in the of issuance of 114,519,363 warrants to subscribers in the
Rights Issue. 

Furthermore, as further described in the stock exchange announcement on 28
February 2024, Buntel AB, a subsidiary of MolCap Invest AB, having undertaken to
underwrite a total of NOK 43 million (equivalent to approx. USD 4 million) of
the Rights Issue have been issued 50 million warrants at equal terms to the
warrants to subscribers in the Rights Issue as part of its underwriting
commission. 

Further to the above, at total of 164,519,363 warrants have been issued to
subscribers in the Rights Issue and to Buntel AB (collectively referred to as
the "Warrants"). 

The Warrants may be exercised in two periods: (i) on 10 - 21 June 2024, and (ii)
on 18 - 29 November 2024.

The Warrants will be listed and tradable on Euronext Growth Oslo under the
ticker code "NTIS". The trading in the Warrants will be halted four days before
the end of each exercise period to facilitate settlement of exercised Warrants.
The Warrants will be tradeable from 4 March 2024 to 16:30 (CEST) on 17 June
2024, and (ii) following settlement of the first exercise period, to 16:30 (CET)
on 25 November 2024. The Warrants will hence only be tradable during part of the
exercise periods.

If all the Warrants are exercised, the Company expects to raise additional gross
proceeds of up to approx. NOK 175 million. In the event that Warrants are not
exercised, the gross proceeds will be reduced corresponding to the proportion of
Warrants that are not exercised.

Each Warrant will give the holder a right to subscribe for one new share in the
Company at an exercise price per share equal to the volume-weighted average
price (VWAP) of the Company's shares on Euronext Growth Oslo in the three last
trading days prior to the first date on which the holder can exercise the
Warrant in each exercise period less 30%, but in any event (i) not lower than
the nominal value (NOK 0.08) and (ii) not exceeding the subscription price in
the Rights Issue plus 30% (i.e. NOK 1.068925).

Exercise of Warrants is carried out by written notification to the Company,
which must be received by the Company by the expiry of the relevant exercise
period. The notice shall include the number of Warrants the holder has and how
many of these are exercised.

Holders of Warrants may either sell the Warrants or use them to subscribe for
shares in the Company within the exercise periods stated above. As such, the
Warrants may have a financial value for the holders, depending on the prevailing
market price for the shares in the Company. Holders of Warrants who do not sell
or use the Warrants to subscribe for shares in the Company will experience a
dilution of their shareholding in the Company, see Section 6.28 "Dilution" in
the prospectus published by the Company on 5 February 2024 in connection with
the Rights Issue (the "Prospectus") for a further description of such dilutive
effect.

If the Warrants are not sold within 16:30 (CET) on 25 November 2024 or exercised
within 16:30 (CET) on 29 November 2024 the Warrants will lapse with no
compensation to the holders.

For more information pertaining to the Warrants, please see the Prospectus,
which is, subject to applicable local securities laws, available at the websites
of the Company (www.norsktitanium.com) and Carnegie AS
(www.carnegie.no/ongoing-prospectuses-and-offerings/). 

For more information, please contact: 

John Andersen, Chairman of Norsk Titanium AS 
Email: [e-mail] 
Tel: [phone] 

Carl Johnson, President & CEO Norsk Titanium AS
Email: [e-mail]
Tel: [phone]

Ashar Ashary, CFO Norsk Titanium AS 
Email: [e-mail] 
Tel: [phone]

For information about the Rights Issue, please contact Carnegie AS (the
"Manager"): [phone]

This information is published in accordance with the requirements of the
Continuing Obligations for companies listed on Euronext Growth Oslo and section
5-12 of the Norwegian Securities Trading Act.

About Norsk Titanium AS:

Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.

For the latest news, go to www.norsktitanium.com or follow the Company on
LinkedIn.

- IMPORTANT NFORMATION - 
Any offering of the securities referred to in this announcement is made by means
of the Prospectus has been prepared and approved by the Norwegian Financial
Supervisory Authority. This announcement is an advertisement and is not a
prospectus for the purposes of Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 on prospectuses to be published
when securities are offered to the public or admitted to trading on a regulated
market, and repealing Directive 2003/71/EC (as amended) as implemented in any
EEA Member State (the "Prospectus Regulation"). Investors should not subscribe
for any securities referred to in this announcement except on the basis of
information contained in the Prospectus. Copies of the Prospectus will,
following publication, be available from the Company's registered office and,
subject to certain exceptions, on the website of the Manager.

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
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA 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. 

This document is not for publication or distribution in, directly or indirectly,
Australia, Canada, Japan, the United States or any other jurisdiction in which
such release, publication or distribution would be unlawful, and it does not
constitute an offer or invitation to subscribe for or purchase any securities in
such countries or in any other jurisdiction. In particular, the document and the
information contained herein should not be distributed or otherwise transmitted
into the United States or to publications with a general circulation in the
United States of America. 

The Manager is acting for the Company in connection with the Rights Issue and no
one else and will not be responsible to anyone other than the Company for
providing the protections afforded to its clients or for providing advice in
relation to the Rights Issue or any transaction or arrangement referred to in
this announcement.

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 "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" 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 believes 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 information, opinions and forward-looking
statements contained in this announcement speak only as at its date and are
subject to change without notice, and each of the Company, the Manager and its
affiliates expressly disclaims any obligation or undertaking to update, review
or revise any statement contained in this announcement whether as a result of
new information, future developments or otherwise. This announcement is made by
and is the responsibility of, the Company. 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. No reliance may be
placed for any purpose on the information contained in this announcement or its
accuracy, fairness or completeness. Neither the Manager nor any of its
affiliates accepts any liability arising from the use of this announcement.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange