Oslo, 1 September 2020

Reference is made to the stock exchange announcement published by Thin Film Electronics ASA (the "Company" or "Thinfilm") on 23 July 2020 regarding a contemplated subsequent repair offering raising up to approximately NOK 10 million (the "Subsequent Offering") through the offering of up to 66,666,666 shares (the "Offer Shares") at a subscription price per share of NOK 0.15, which was approved on the Extraordinary General Meeting held on 19 August 2020. Further reference is made to the stock exchange announcement on 29 August 2020 regarding the prospectus published on 29 August 2020 in connection with the listing of shares issued in the private placement, as announced on 23 July 2020 (the “Private Placement”), and the listing and offering of shares in the Subsequent Offering (the “Prospectus”).

The subscription period will commence today, on 1 September 2020, and expire at 16:30 hours (CEST) on 15 September 2020 (the "Subscription Period").

Eligible shareholders, being shareholders of the Company as of 23 July 2020 (and being registered as such in the VPS on 27 July 2020, pursuant to the two days' settlement procedure in the VPS (the "Record Date")), who were not allocated shares in the Private Placement, and who are not resident in a jurisdiction where such offering would be unlawful, or (for jurisdictions other than Norway) would require any filing, registration or similar action, may subscribe for shares in the Subsequent Offering ("Eligible Shareholders").  Eligible Shareholders will be granted transferable subscription rights (the "Subscription Rights") that, subject to applicable law, provide rights to subscribe for and be allocated Offer Shares at the subscription price.

Each Eligible Shareholder has been granted 0.337792737987746 transferable subscription rights for every share owned in the Company as of the Record Date. Each Subscription Right gives the shareholder the preferential right to subscribe for and be allocated one (1) Offer Share in the Subsequent Offering. A right to subscribe for a fraction of a share shall be rounded down to the nearest whole share. Oversubscriptions and subscriptions without Subscription Rights will be allowed.

The Subscription Rights must be used to subscribe for Offer Shares before the expiry of the Subscription Period. Subscription Rights that are not used to subscribe for Offer Shares before such deadline will have no value and will lapse without compensation to the holder.

Payment of the Offer Shares must be made on or before 22 September 2020, as set out in the Prospectus. Delivery of the Offer Shares is expected to take place on or about 25 September 2020 through the facilities of the VPS.

The subscribers will be issued one Warrant (“Warrant C”) for each share subscribed for in the Subsequent Offering. Warrant C will have an exercise price of NOK 0.25 per share and be exercisable at any time from 31 March until 30 June 2021. The further terms and conditions for the issuance of Warrants C are set out in the Prospectus. Subscription for Offer Shares will also be deemed to represent subscription for the accompanying Warrants C in accordance with sections 11-13 and 10-7 of the Public Limited Companies Act.

Further information about the Subsequent Offering and subscription procedures is included in the Prospectus, available at https://thinfilmsystems.com/investor-relations/share-information/prospectus/

The online subscription form (for use only by eligible Norway residents) and printable subscription forms are available at https://www.thinfilmsystems.com/investor-relations/subsequent-offering-subscription/

Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm's innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The Company's state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets. Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.

Contact:
Kevin Barber - Chief Executive Officer
Email: kevin.barber@thinfilmsystems.com

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

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