Kahoot! ASA

M&A Activity • Apr 30, 2021

Kahoot! ASA – Additional consideration in connection with the acquisition of Actimo, ApS

Kahoot! ASA – Additional consideration in connection with the acquisition of Actimo, ApS

Oslo, Norway, 30 April 2021 – Reference is made to the stock exchange announcement by Kahoot! ASA ("Kahoot!" or the "Company") made on 5 October 2020, regarding the completion of the acquisition of all shares in Actimo ApS ("Actimo").

In accordance with the share purchase agreement entered into between Kahoot! and the shareholders of Actimo (the "SPA"), the shareholders of Actimo shall be entitled to additional consideration if certain financial thresholds are being met by Actimo per 31 March 2021. Based on Actimos' achievements, the shareholders of Actimo are entitled to a total additional consideration of USD 6,674,966 (the "Additional Consideration"). The Additional Consideration shall be settled by a combination of cash and new Kahoot! shares.

The Board of Directors of the Company has accordingly resolved to increase the share capital of the Company with NOK 18,603.90 by the issuance of 186,039 consideration shares to the shareholders of Actimo at a subscription price of NOK 86.62 per share in accordance with the SPA. The shareholders of Actimo have entered into lock-up agreements with the Company pursuant to which the consideration shares are subject to lock-up periods of up to 24 months from completion of the acquisition 5 October 2020. Following this share issue there will be 447,689,510 issued and outstanding shares in the Company.

For further information please contact:

Eilert Hanoa, CEO

Phone: +47 928 32 905

Email: eilerth@kahoot.com

Ken Østreng, CFO

Phone: +47 911 51 686

Email: keno@kahoot.com

About Kahoot!

Kahoot! is on a mission to make learning awesome! We want to empower everyone, including children, students, and employees to unlock their full learning potential. Our learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive compelling engagement. Launched in 2013, Kahoot!’s vision is to build the leading learning platform in the world. In the last 12 months, 279 million games have been played on the Kahoot! platform with 1.6 billion participating players in more than 200 countries. The Kahoot! family also includes award-winning DragonBox math learning apps, the Poio learn to read app, the Drops language learning apps, the Actimo and Motimate employee engagement and corporate platforms and Whiteboard.fi, the online whiteboard tool for all educators, teachers and classrooms. The Kahoot! Group is headquartered in Oslo, Norway with offices in the US, the UK, France, Finland, Estonia, Denmark and Spain. Let’s play!

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.