Norwegian Block Exchange AS

Share Issue/Capital Change • Apr 18, 2024

Norwegian Block Exchange AS – Results of the subsequent offering, oversubscribed

Norwegian Block Exchange AS – Results of the subsequent offering, oversubscribed

Oslo, 18 April 2024. Reference is made to the stock exchange notice from Norwegian Block Exchange AS ("NBX" or the "Company") on 9 and 10 April 2024 regarding the terms of the subsequent offering of up to NOK 2,520,000 through issuance of up to 4,200,000 new shares (the "Offer Shares") in the Company at a subscription price of NOK 0.60 per share (the "Subsequent Offering").

In the Subsequent Offering, the shareholders in the Company as of the end of trading on 4 March 2024, as registered in the Norwegian Central Securities Depositary - Euronext Securities Oslo ("Verdipapirsentralen" or "VPS") on 6 March 2024 (the "Record Date"), who (i) were not allocated offer shares in the Private Placement and (ii) are not resident in a jurisdiction where such offering would be unlawful, or for jurisdictions other than Norway, would require any prospectus filing, registration or similar action (the "Eligible Shareholders"), received subscription rights giving preferential rights to subscribe for and be allocated Offer Shares in the Subsequent Offering. In addition, shareholders and investors that participated in the Private Placement were given a secondary right to subscribe for Offer Shares not subscribed for by the Eligible Shareholders.

The subscription period in the Subsequent Offering ended on 17 April 2024 at 16.30 CEST. At the end of the subscription period, the Company has received subscriptions corresponding to subscription of 5,583,064 Offer Shares.

The Company's board of directors (the "Board") has now allocated shares in the Subsequent Offering, which implies that the Company shall issue 4,200,000 new shares related to the Subsequent Offering. Allocation letters, regarding the number of shares allocated and the subscription amount to be paid, will be distributed to the subscribers shortly.

The completion of the Subsequent Offering, including the issue and delivery of the Offer Shares, is subject to (i) the Norwegian Financial Supervisory Authority approving the application for the share capital increase pertaining to the Private Placement, as resolved by the extraordinary general meeting on 4 April 2024, ii) the corporate resolutions of the Company required to implement the Subsequent Offering, including issue of the Offer Shares, being validly made, (iii) the Norwegian Financial Supervisory Authority approving the application for the share capital increase pertaining to the Subsequent Offering, and (iv) the share capital increase pertaining to the issuance of the allocated Offer Shares being validly registered with the Norwegian Register of Business Enterprises and the allocated Offer Shares being validly issued and registered in the VPS. The beforementioned (i) to (iv) is referred to as the "Conditions".

Subject to timely payment of the Offer Shares by the subscribers and the Conditions above being satisfied, the share capital increase pertaining to the Subsequent Offering is expected to be registered with the Norwegian Register of Business Enterprises on or about 15 May 2024 and the Offer Shares will thereafter be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 15 May 2024. Trading in the Offer Shares on Euronext Growth Oslo is expected to commence on or about 15 May 2024.

The Offer Shares may not be transferred or traded before they are fully paid, the share capital increase is registered with the Norwegian Register of Business Enterprises and the Offer Shares have been delivered to the subscribers VPS accounts.

DISCLOSURE REGULATION

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

For more information, please contact:

Stig Kjos-Mathisen, CEO Norwegian Block Exchange AS

Email: Stig.aleksander.kjos-mathisen@nbx.com

Tel: +47 93 28 75 72

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About Norwegian Block Exchange (NBX)

NBX is a financial services company building products and services based on digital assets. NBX is registered with the Norwegian Financial Supervisory Authority and is listed on Oslo Stock Exchange Euronext Growth.