Nordic Unmanned ASA

M&A Activity • Oct 14, 2021

Nordic Unmanned AS: Completion of the acquisition of AirRobot

Nordic Unmanned AS: Completion of the acquisition of AirRobot

14.10.2021 21:11:35 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

Nordic Unmanned today announced the closing of the acquisition of AirRobot, a

leading German drone developer and manufacturer. The acquisition secures

patented world-leading last-mile unmanned delivery technology and extends the

product and customer portfolio as a system integrator.

Reference is made to Nordic Unmanned's announcements on the 12th of July and

23rd of September regarding the acquisition of all shares in AirRobot. The

transaction is now successfully completed.

As part of the settlement, the board of directors resolved, pursuant to the

board authorisation granted by the ordinary general meeting held on 26 May 2021,

to increase the company's share capital by NOK 205,296, by issuance of 205,296

new ordinary shares, each with a nominal value of NOK 1, at a subscription price

of NOK 36.50 per share, which corresponds to the opening price on 14 October

2021. The issuance of new shares is conditional upon registration of the share

capital increase with the Norwegian Register of Business Enterprises. Following

registration of the share capital increase, the Company will have 25,988,984

shares issued and outstanding, each with a par value of NOK 1 (i.e. excluding

the 300,000 new ordinary shares to be issued in connection with the completion

of the private placement towards employees and board members as announced on 13

October 2021).

Nordic Unmanned will leverage AirRobot's German customer relationships,

technical capabilities, and product portfolio to expand customer relationships

and offerings.

"The German market is one of Nordic Unmanned's most important markets and

through this acquisition we will support existing and new customers in Germany

with increased product portfolio and close customer support. Nordic Unmanned

will also leverage AirRobot to enter the German drone service market, building

on our existing service offerings and experience with ship emission monitoring,

rail infrastructure and smart ports as the first areas of focus." says Knut Roar

Wiig, CEO of Nordic Unmanned.

It is expected that AirRobot will generate revenue within all of Nordic

Unmanned's market segments (Maritime, Security, Infrastructure and Logistics) in

The technology build by the experienced AirRobot engineering team will be

leveraged within Nordic Unmanned's system integration portfolio, which will be

further expanded into the Logistics market. A new joint R&D department will be

managed by the group CTO of Nordic Unmanned, production will be managed by the

group COO, and Björn Behrmann has been appointed as the General Manager of

AirRobot.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com

* Trond Østerhus, CFO, Nordic Unmanned AS, +47 95 99 08 79,

to@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned delivers comprehensive data solutions through industry leading

expertise, to assist both public and private customers in the transition to

unmanned technology. The focus is to support demanding clients by collecting

time-critical data with the use of unmanned technology.

Founded in 2014, the company has offices in Sandnes, Oslo, and Frankfurt, and

has quickly become one of Europe's leading providers of unmanned systems and

services, with operations across the continent. The company is ISO 9001-2015

certified by DNV-GL for the operation, maintenance, sale, design, development

and production of unmanned systems and sensor technology. and sensor technology.

For more information visit nordicunmanned.com - https://nordicunmanned.com/