Norsk Titanium AS: Updated key information relating to the preferential rights issue

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DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT

Oslo, Norway, 8 January 2024: Reference is made to the stock exchange
announcement published by Norsk Titanium AS (the "Company") on 4 December 2023
with key information relating to the preferential rights issue in the Company
(the "Rights Issue"). 

Date on which the terms and conditions of the Rights Issue were announced: 4
December 2023

Last day including right: 9 January 2024

Ex-date: 10 January 2024

Record Date: 11 January 2024

Date of approval: 9 January 2024

Maximum number of new shares: 273,639,404

Subscription price: NOK 0.82225

Ratio preferential rights: Each existing shareholder as of 9 January 2024 (and
being registered as such in Euronext Securities Oslo, the Norwegian Central
Securities Depository, (the VPS) as at the expiry of 11 January 2024 (the record
date)) will be granted 1.013411 subscription rights for each share registered as
held by the shareholder. The number of subscription rights granted to each
existing shareholder will be rounded down to the nearest whole subscription
right.

Subscription ratio: 1:1 (number of new shares per subscription right)

Manager: Carnegie AS

Will the rights be listed: The Company will apply for trading of the
preferential rights on the Oslo Euronext Growth.

ISIN for the preferential rights: To be announced when clarified.

Other information: The subscribers in the Rights Issue will without cost be
allocated one warrant (Nw. "frittstående tegningsrett") issued by the Company
for every two new shares allocated to, and paid by, them in the Rights Issue.
The number of warrants to be issued will be minimum 110,671,937 and maximum
136,819,702. Each warrant will give the holder a right to subscribe for one new
share in the Company at a subscription price equal to the volume-weighted
average price (VWAP) of the Company's shares on the Euronext Growth Oslo on the
three last trading days prior to the first date on which the holder can exercise
the warrant in each exercise period (as described below) less 30%, but in any
event not exceeding the subscription price in the Rights Issue plus 30% (i.e.
NOK 1.068925). The warrants may be exercised during two exercise periods: (i) 10
- 21 June 2024, and (ii) 18 - 29 November 2024. 
The Rights Issue is subject to approval by the extraordinary general meeting of
the Company to be held at 15:00 (CET) on 9 January 2024 (the "EGM"). Notice of
the EGM was sent on 14 December 2023.

This information is published in accordance with the requirements of the
Continuing Obligations.

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]

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 us on LinkedIn.

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