Norwegian Block Exchange AS

Capital/Financing Update • Apr 3, 2023

NBX exercises on the put option agreement with LDA Capital

NBX exercises on the put option agreement with LDA Capital

Oslo, Norway - NBX, the leading Norwegian-based digital assets exchange.

As a continuation of the planned financing for current initiatives related to the launch of the NBX Visa credit card and to facilitate NBX commitment to growth in the Nordics, NBX have issued the first put option notice pertaining to the earlier announced put option agreement with LDA Capital Ltd. ("LDA").

In September 2022, NBX secured a provisional NOK 100 million capital commitment from LDA, a Los Angeles based global investment group, by entering into a put option agreement. This capital commitment has a maximum duration of three years and is released based on drawdowns. NBX has the right to exercise on the capital commitment at its sole discretion. NBX now utilizes the facility by issuing a put option notice to LDA to draw down funds in exchange for issuing new shares to LDA. Until new shares are issued, and as part of the put option agreement, three major shareholders have agreed to lend to LDA the necessary shares for each put option notice.

Within twelve (12) months NBX will issue to LDA the number of ordinary shares subscribed for in this put option notice for LDA to return to the share lenders.

The individual strike price of each put option is determined by the volume weighted average price (VWAP) of NBX’s shares during a 30 day pricing period. NBX has the discretion to set a minimum price for each of the capital calls.

The funds will be utilized to facilitate NBX’s growth in the Nordics and as collateral for the imminent NBX Visa credit card launch.

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Contact person:

Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 93287572