Nordic Technology Group AS

Share Issue/Capital Change • Jul 1, 2022

NTG – Completion of Transactions and private placement

NTG – Completion of Transactions and private placement

NTG – Completion of Transactions and private placement

Oslo, 1 July 2022

Reference is made to the announcement earlier today regarding approval of the application for admission to trading on Euronext Growth Oslo by Nordic Technology Group AS ("NTG" or the "Company", ticker: NTG).

The transactions for establishment of the NTG group have been completed, pursuant to which NTG will acquire shares in the group companies (Hybrid Energy AS, Wavetrain Systems AS, MossHydro AS, CondAlign AS, Hammertech AS and CrayoNano AS, jointly the "Group Companies") in several transactions with certain shareholders of the Group Companies (the "Transactions"). As partly settlement of the consideration under the Transactions, the general meeting of NTG has today issued 55,338,048 new shares, each at subscription price NOK 12 to the counterparties in the Transactions.

Further, with the completion of the Transactions and the approval for admission to trading, all conditions for completion of the Company's private placement of NOK 102 million (the "Private Placement") have been fulfilled. Consequently, the Private Placement has also been completed today, and the Company has resolved the issuance of 8,502,632 new shares each at a subscription price of NOK 12 to investors having been allocated shares in the Private Placement.

The Company, members of management and the board of directors, as well as certain large shareholders receiving consideration shares in the Transactions, have entered into customary lock-up arrangements with the Managers related to their shares with a lock-up period of 12 months for management and the board members and 6 months for the Company and the aforementioned shareholders. The lock-up is subject to customary exemptions.

The Company's first day of trading on Euronext Growth Oslo is expected to be 5 July 2022.

The new shares will be settled through a delivery vs. payment transaction on or about 4 2022. The delivery-versus-payment settlement in the Private Placement is facilitated by a pre-funding agreement between the Company and the Managers.

Rune Rinnan, Group CEO:

“I am pleased to announce a successful cash capital increase in NTG of more than NOK 100 million which is an important building block in reaching our growth plan. We are confident in our focused vertical strategy and excited about the potential in our existing companies and pipeline. We expect news flow in both the short and long-term that back up these ambitions”.

About Nordic Technology Group AS:

Nordic Technology Group (NTG) is dedicated to technologies contributing to solve society challenges by using electronics and software as its building blocks. By devotion to its technology segments, sensor, clean-tech and nanomaterials, NTG is targeting international markets and building industry leaders, by utilizing synergies within and across each of its technology sectors and by leveraging on its extensive patent library to secure shareholder value and growth.

Advisors

Arctic Securities AS and SpareBank 1 Markets AS (the "Managers") acts as managers and Euronext Growth Advisors. Advokatfirma Wiersholm AS is acting as legal advisor to the Company and Advokatfirmaet Thommessen AS is acting as legal advisor to the Manager.

For more information; please contact:

Rune Rinnan, Group CEO, rune.rinnan@ntechgroup.no