Kahoot! ASA

Declaration of Voting Results & Voting Rights Announcements • Dec 21, 2020

Kahoot! - Mandatory notification of trade

Kahoot! - Mandatory notification of trade

Northzone VII L.P. (“Northzone”) has on 21 December 2020 sold 12,000,000 shares (the “Shares”) in Kahoot! AS ("Kahoot!" or the "Company") at a price of NOK 79 per share to a fund managed by SB Management Limited, a 100% directly owned subsidiary of SoftBank Group Corp. ("SoftBank"). Following this purchase, SoftBank owns a total of 60,000,000 shares in Kahoot!, equivalent to 13.45% of the share capital of the Company.

ABG Sundal Collier ASA and Goldman Sachs International have waived Northzone's obligations under a lock-up agreement dated 1 December 2020 and expiring on 31 March 2021 to allow for Northzone's sale of the Shares to SoftBank; and SoftBank has agreed to assume Northzone’s obligations under the lock-up agreement with respect to the Shares.

Further, the Company has waived SoftBank's obligations under the stand-still agreement between the Company and SoftBank dated 23 September 2020 relating to the Shares, and effective from 13 October 2020, to allow for SoftBank's share purchase from Northzone.

Northzone is represented on the Board of Directors of Kahoot!. Following the transaction, Northzone owns 12,000,000 shares in the Company, representing 2.69% of its share capital. Northzone's remaining shares in the Company are subject to a customary lock-up agreement lasting until 31 March 2021.

ABG Sundal Collier ASA is financial adviser in connection with the transaction.