Norwegian Block Exchange AS

Share Issue/Capital Change • May 5, 2022

Key information regarding potential subsequent offering

Key information regarding potential subsequent offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

Oslo, 5 May 2022.

Reference is made to the announcement by Norwegian Block Exchange AS ("NBX" or the "Company") on 5 May 2022 regarding the successful private placement of new shares in the Company with gross proceeds in the amount of approximately NOK 15,8 million (the "Private Placement"), and that the Company is considering conducting a subsequent share offering (the "Subsequent Offering") with non-tradeable subscription rights of up to 3,350,864 new shares in the Company, which, subject to applicable securities law, will be directed towards existing shareholders in the Company as of 5 May 2022 (as registered in Euronext Securities Oslo (formerly VPS) on 9 May 2022), who (i) were not allocated new shares in the Private Placement, and (ii) are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action.

Date for announcement of terms: 5 May 2022

Last day including right to receive subscription rights: 5 May 2022

First day excluding right to receive subscription rights: 6 May 2022

Record date: 9 May 2022

Maximum number of new shares: 3,350,864

Subscription price: NOK 5

Shall the subscription rights be listed: No

The Subsequent Offering and the Board decision to carry out such offering will be subject to (i) the prevailing market price of the Company's shares and (ii) relevant corporate resolutions being passed by the Company.

The formal resolution (including the final number of new shares to be offered) related to the Subsequent Offering will be made by the Board subsequent publication of any prospectus prepared in connection with the Subsequent Offering (as applicable).

Contact person: Torstein Thinn - CFO

Mail: torstein.thinn@nbx.com

Telephone: 986 44 144

About NBX:

NBX is a truly Norwegian cryptocurrency exchange and custodian. The Company is based in Oslo and is registered with the Financial Supervisory Authority of Norway. NBX offers easy and secure access to cryptocurrency for everyone, focusing on the Nordic markets, but open for customers globally.

Important information:

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. 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 securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering or their securities in the United States or to conduct a public offering of securities in the United States. Any sale in the United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. The expression "Prospectus Regulation" means Regulation 2017/1129 as amended together with any applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in investment levels and need for the Company's services, changes in the general economic, political and market conditions in the markets in which the Company operate, the Company's ability to attract, retain and motivate qualified personnel, changes in the Company's ability to engage in commercially acceptable acquisitions and strategic investments, and changes in laws and regulation and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not provide any guarantees that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this announcement.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

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 in the Company. Neither the Joint Bookrunners in the Private Placement nor any of their respective affiliates accepts any liability arising from the use of this announcement.

This information is published in accordance with the requirements of the Continuing Obligations for companies listed on the Euronext Growth Oslo.