Norwegian Block Exchange AS

Capital/Financing Update • Apr 15, 2025

Norwegian Block Exchange (NBX) AS: Debt-to-Equity Conversion

Norwegian Block Exchange (NBX) AS: Debt-to-Equity Conversion

Oslo, April 15, 2025 - Norwegian Block Exchange AS (NBX), a leading digital asset service provider in the Nordics.

NBX today announced a debt-to-equity conversion, strengthening the company's financial position and supporting its continued growth strategy.

The transaction involves the conversion of approximately NOK 5,9 million of outstanding debt into equity shares at NOK 0,27, improving NBX's balance sheet structure and reducing ongoing interest expenses. The conversion price reflects confidence in NBX's future growth potential and current market position. The conversion is from Observatoriet Invest AS, a company closely associated with board member Bjørn Kjos and board member Vegard Kristiansen. It is expected that the transaction closes in may when shares are issued subject to relevant approvals. Interest expenses on the remaining convertibles were reduced from 15% to 9,9% as at 31.3.2025.

About Norwegian Block Exchange (NBX)

Founded in 2018, Norwegian Block Exchange (NBX) is a trusted cryptocurrency exchange serving the Nordic market. Licensed and regulated in Norway, NBX offers secure trading of digital assets, custody solutions, and blockchain technology services for retail and institutional clients. NBX is committed to providing a compliant trading environment with robust security measures and transparent operations. The company issued the first credit card in the world with BTC cashback.