Asetek A/S

Regulatory Filings • May 5, 2022

Asetek SimSportsT Partners with Kevin Magnussen to Bring a True F1 Car Feel to Sim Racing

Asetek SimSportsT Partners with Kevin Magnussen to Bring a True F1 Car Feel to Sim Racing

Renowned Formula One Driver to Collaborate with Asetek SimSportsT on Product

Development Starting with F1 Wheel Bases

Aalborg, Denmark - May 5, 2022 - Asetek, sim racing gear innovator, along with

Kevin Magnussen, acclaimed Danish race car driver currently competing in Formula

One for Haas F1 Team, announced an agreement whereby Magnussen will work closely

with Asetek SimSportsT engineers on the development of sim racing products that

replicate the true feeling of an F1 car. As part of the agreement, Kevin

Magnussen will be a brand ambassador for Asetek SimSportsT.

Son of four-time LeMans GT class winner and former Formula One driver, Jan

Magnussen, Kevin Magnussen has a celebrated racing resume including with

McLaren, Renault and Haas F1 Teams. In addition to his vast amount of time on

the track, Magnussen helped develop the McLaren simulator and has tested for

Porsche.

"There is a lot of sim equipment that claims to emulate an F1 car, but it misses

the mark because it was designed by people who do not have F1 racing

experience," said Kevin Magnussen. "André and I share a passion for racing and

by teaming up with Asetek, I can help bring the thrill and authentic feel of F1

to sim racers everywhere."

Magnussen continued, "In the past I did not find home simulators to bring a

whole lot of value, simply because they were not realistic. I tested Asetek's

equipment last week, and I was impressed. I am enthusiastic about assisting them

in bringing forward products that feel as close to a real F1 car as possible,

and I appreciate they have given me this opportunity."

"I am delighted to have this cooperation with Kevin. Many simulator equipment

manufacturers market products based on a car brand or a famous driver, but the

hardware is never developed to actually feel like an F1 car. Our partnership

with Kevin is much more than a branding agreement, where we put his signature on

our products," said André Sloth Eriksen, founder and CEO of Asetek. "What is

truly exciting is that we will develop products together with the sole purpose

of replicating the true feeling of an F1 car. As an example, over the next few

weeks, Kevin will spend a significant amount of time in our lab working closely

with our engineers on the development of the best possible firmware for our

wheel bases. Kevin brings tremendous experience, obviously from the track, but

also from when he participated in developing McLaren's simulator."

"Kevin is a great brand ambassador for Asetek SimSportsT. We share many values

both on and off track, which is important to us," Eriksen continued. "In my

opinion, not only is F1 the pinnacle of motorsports, it is bigger than that, and

it will be a proud moment for me and the rest of the Asetek team when we see the

Asetek SimSportsT logo in the F1 paddock."

To learn more about Kevin Magnussen, visit kevinmagnussen.com. To learn more

about Asetek SimSportsT, visit https://aseteksimsports.com.

About Asetek

Asetek (ASTK.OL), a global leader in mechatronic innovation, is a Danish garage

-to-stock-exchange success story. Founded in 2000, Asetek established its

innovative position as the leading OEM developer and producer of the all-in-one

liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went

public while expanding into energy-efficient and environmentally friendly

cooling solutions for data centers. In 2021, Asetek is introducing its line of

products for next-level immersive SimSports gaming experiences. Asetek is

headquartered in Denmark and has operations in China, Taiwan, and the United

States.

www.asetek.com

Media contact

Margo Westfall

Asetek Sr. Marketing Manager

mwe@asetek.com

+1 (408) 644-5616

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act.