Nordic Unmanned ASA

M&A Activity • Jul 1, 2024

Nordic Unmanned ASA completes the acquisition of the remaining 45% shares in leading Belgian drone company DroneMatrix

Nordic Unmanned ASA completes the acquisition of the remaining 45% shares in leading Belgian drone company DroneMatrix

1.7.2024 14:43:47 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

Nordic Unmanned currently owns 55% of DroneMatrix and has an obligation to

acquire the remaining 45% of the shares. Nordic Unmanned has entered into a

final agreement to acquire the remaining 45% of the shares in DroneMatrix from

the Vanwelkenhuyzen family. DroneMatrix is a leading drone technology company in

Belgium. The investment will accelerate the integration of DroneMatrix into

Nordic Unmanned and solidify the leading drone company position in Europe.

Investment of the remaining 45% shares of DroneMatrix enables both companies to

fulfil the synergies and scale their commercial offerings through new services

and solutions across all three (3) Nordic Unmanned segments

* Flight Services, providing time-critical actionable data to large corporate

and governmental customers.

* AirRobot, a leading product platform in lightweight UAS's tailored for

defence and security

* DroneMatrix, a fully integrated and autonomous UAS system with proprietary

software

DroneMatrix is a leading European drone technology company implementing

Drone-In-A-Box solutions, including autonomous drones, intelligent docking

stations and proprietary AI-based software allowing autonomous drones to detect

and follow objects. Drone-In-A-Box is emerging as a growth segment within the

drone industry. It represents the next phase of industry development as it

allows for centralized, remote operations of drones, enabling rapid upscaling of

lightweight drone operations. The system is well suited for safety and

inspection use at critical infrastructure, buildings, ports and yards.

Nordic Unmanned will, through share purchase and an equity issue, obtain control

of 100% of the shares of DroneMatrix. The share purchase of EUR 2.6 million will

be effective on closing, expected by the end of Q3 2024. The purchase price will

be settled with EUR 1.0 million in cash to be fully paid December 31st 2025 and

the remaining will be settled with 3.6 million shares in Nordic Unmanned at

closing.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Lars A Landsnes, CFO/COO, Nordic Unmanned ASA, +47 951 40 370,

ll@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned is a leading European manufacturer (OEM) and certified operator

of unmanned aircraft systems ("UAS").

We are serving large corporations, government agencies and security customers by

offering systems, solutions and flight services for environmentally friendly

delivery of productivity improvements and time critical, actionable data

insights and logistics services.

Our solutions and services are organized in the three business segments as

follows:

Flight Services: is a technology-agnostic flight services operator providing

time-critical actionable data to large corporate and governmental customers. The

segment also includes NUAer AS and Resale.

AirRobot: is an Equipment Manufacturer (OEM) with a leading product platform in

lightweight drones and sensors (payloads) tailored for defense and security.

DroneMatrix: is an Equipment Manufacturer (OEM) offering a fully integrated and

autonomous drone system with proprietary software for surveillance and security.

Nordic Unmanned is ISO 9001:2015 and ISO 14001:2015 certified for the operation,

maintenance, and sales of unmanned systems and sensor technology. AirRobot is

ISO 9001:2015 and EN 9100:2018 certified for its development and production

capabilities of unmanned systems.

Founded in Norway in 2014, Nordic Unmanned has offices in Sandnes (NO),

Cranfield (UK), Hasselt (BE) and Arnsberg (GER). Nordic Unmanned also comprise

joint venture - Omni Unmanned SA with OHI Group SA (registered in Luxemburg) and

joint venture - NUAer AS with Aeromon OY (registered in Norway).

For more information visit - https://nordicunmanned.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/18163255/4731/Download%20announce

ment%20as%20PDF.pdf