Nordic Unmanned ASA

Capital/Financing Update • Oct 13, 2023

Nordic Unmanned is Refinanced, Rightsized and Revitalized

Nordic Unmanned is Refinanced, Rightsized and Revitalized

13.10.2023 15:31:08 CEST | Nordic Unmanned | Non-regulatory press releases

Invitation to webcast update. Nordic Unmanned is a leading European provider of

unmanned aerial system ("UAS") flight services, system integration and drone OEM

systems, targeting the collection of actionable data for security, maritime

surveillance, and defense applications

The company is pleased to inform that the company has now completed its

announced strategic review through a refinancing with its lenders in combination

with a Private Placement of MNOK 70 in new equity, resulting in a sustainable

financial solution for the company, visibility and flexibility. The agreement

with the lenders includes a 5 year term for the bank debt, amortization holiday

till mid-September 2025, interest accumulation till June 2024 and a margin

reduction from 5% to 3.5%.

Nordic Unmanned has been through a very challenging period with regards to

liquidity and lower operating margins than expected. Following the refinancing

and recapitalization, the company is well placed to move forward with its

focused strategy, continued improvement efforts, competent organization,

multi-year contract portfolio, well positioned niche technologies and quality

clients and partners.

Through the equity raise, the company welcomes Tjelta Eiendom AS as a new

investor and majority owner.

Stig H. Christiansen, CEO of Nordic Unmanned, remarked: "We are very pleased

with the financial solution which would not have been possible without all the

great people, advisors and capital stakeholders involved. It is an all-hands

job. We look forward to take the company forward in a controlled and profitable

manner in an industry that clearly forms part of a sustainable future."

In connection with the commencement of the repair issue, Nordic Unmanned

invites to a company update webcast with Q&A on the 31st October at 10am.

CONTACTS

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

ll@nordicunmanned.com

* Stig H. Christiansen, CEO, Nordic Unmanned ASA, +47 478 07 813,

shc@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/17847587/2677/3726/Download%20announcement

%20as%20PDF.pdf