Asetek A/S

Share Issue/Capital Change • May 15, 2023

Asetek A/S - Registration of share capital increase pertaining to the Rights Issue

Asetek A/S - Registration of share capital increase pertaining to the Rights Issue

Aalborg, 15 May 2023.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES OF AMERICA, CANADA, AUSTRALIA, OR JAPAN OR ANY OTHER JURISDICTION IN

WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Reference is made to the stock exchange announcement by Asetek A/S (the

"Company" or "Asetek") on 10 May 2023 regarding the final results of the fully

underwritten rights issue of 71,166,667 new shares (the "New Shares") in the

Company at a subscription price of NOK 3 per share (the "Rights Issue").

The share capital increase pertaining to the Rights Issue has now been

registered with the Danish Business Authority. Following such registration, the

Company has a share capital of DKK 9,831,389.20 representing 98,313,892 shares,

each with a nominal value of DKK 0.10. The total number of voting rights in the

Company is 98,313,892.

Following registration with the Danish Business Authority, the New Shares are

validly and legally issued and fully paid-up. The New Shares will be admitted to

trading on Oslo Børs under the same ISIN code for the Company's existing shares

DK0060477263

The Company's articles of association has been updated to reflect the capital

increase and are available at the Company's website (www.asetek.com).

Subject to no material adverse change affecting the Company before the admission

to trading and official listing, the Company's shares (in the form of share

entitlements) will be admitted to trading and official listing on Nasdaq

Copenhagen A/S ("Nasdaq Copenhagen") under the same ISIN code as the Existing

Shares (DK0060477263), expectedly on 17 May 2023.

Shareholders wishing to trade their shares on Nasdaq Copenhagen must transfer

such Shares to VP Securities A/S' (Euronext Securities Copenhagen) securities

systems. Such transfers may be subject to fees levied by the settlement parties

in accordance with their respective fee schedules.

Expected timetable

The following table presents the expected timetable of remaining principal

events:

Delivery of the New 16

Shares..................................................................... May

2023

First day of trading of the New Shares on Oslo 16

Børs................................. May

2023

First day of trading and official listing of the Shares (in the form of 17

share entitlements) on Nasdaq Copenhagen May

....................................................

2023

For further information about the Company, please contact:

CFO Peter Dam Madsen, +45 2080 7200, email: investor.relations@asetek.com

or

David Pangburn, corporate controller, +1 (408) 386-3031, email:

investor.relations@asetek.com

IMPORTANT INFORMATION

This announcement does not constitute an offer for sale of, or a solicitation of

an offer to purchase or subscribe for, any securities in the United States.

Securities may not be offered or sold in the United States unless they are

registered or are exempt from registration under the U.S. Securities Act of

1933, as amended. The information contained in this announcement is for

informational purposes only and does not purport to be full or completed. The

Company does not intend to register any portion of this offering in the United

States or to conduct a public offering in the United States. Copies of this

announcement are not being, and should not be, distributed in or sent into the

United States.

In the United Kingdom, this announcement is for distribution only to and is

directed only at persons who (i) have professional experience in matters

relating to investments which fall within Article 19(5) of the Financial

Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the

"Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a)

to (d) ("high net worth companies, unincorporated associations etc") of the

Financial Promotion Order, or (iii) are persons to whom an invitation or

inducement to engage in investment activity (within the meaning of section 21 of

the Financial Services and Markets Act 2000) in connection with the issue or

sale of any securities may otherwise lawfully be communicated or caused to be

communicated (all such persons together being referred to as "relevant

persons"). This announcement is directed only at relevant persons and must not

be acted on or relied on by persons who are not relevant persons. Any investment

or investment activity to which this announcement relates is available only to

relevant persons and will be engaged in only with relevant persons.

This announcement has been prepared on the basis that any offer of securities in

any Member State of the European Economic Area, other than Denmark and Norway,

which has implemented the Prospectus Regulation (EU) (2017/1129, as amended, the

"Prospectus Regulation") (each, a "Relevant Member State") will be made pursuant

to an exemption under the Prospectus Regulation, as implemented in that Relevant

Member State, from the requirement to publish a prospectus for offers of

securities. Accordingly any person making or intending to make any offer in that

Relevant Member State of securities which are the subject of the offering

contemplated in this announcement, may only do so in circumstances in which no

obligation arises for the Company or any of the Managers to publish a prospectus

pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus

pursuant to Article 16 of the Prospectus Regulation, in each case, in relation

to such offer. Neither the Company nor any of the Managers have authorized, nor

do they authorize, the making of any offer of the securities through any

financial intermediary, other than offers made by the Managers which constitute

the final placement of the securities contemplated in this announcement. Neither

the Company nor any of the Managers have authorized, nor do they authorize, the

making of any offer of securities in circumstances in which an obligation arises

for the Company or any Managers to publish or supplement a prospectus for such

offer.

The distribution of this announcement and other information may be restricted by

law in certain jurisdictions. Persons into whose possession this announcement or

such other information should come are required to inform themselves about and

to observe any such restrictions.

The Managers and/or any of their affiliates or any of their respective

directors, officers, employees, advisers, agents or any other person(s) do not

accept any responsibility or liability whatsoever for, or make any

representation or warranty, express or implied, as to the accuracy, completeness

or fairness of the information or opinions in this announcement (or whether any

information has been omitted from this announcement) or any other information

relating the Company or associated companies. The Managers are acting

exclusively for the Company and no-one else in connection with the Rights Issue

and will not regard any other person as their client in relation to the Rights

Issue and will not be responsible to anyone other than the Company for providing

the protections afforded to their clients.

This announcement is for information purposes only and is not to be relied upon

in substitution for the exercise of independent judgment. It is not intended as

investment advice and under no circumstances is it to be used or considered as

an offer to sell, or a solicitation of an offer to buy any securities or a

recommendation to buy or sell any securities of the Company.

This information is subject to the disclosure requirements according to Section

5-12 of the Norwegian Securities Trading Act.