Huddlestock Fintech

Major Shareholding Notification • Aug 6, 2025

Huddlestock receives shares for 4.57 percent ownership in Done.ai

Huddlestock receives shares for 4.57 percent ownership in Done.ai

6.8.2025 17:23:55 CEST | Huddlestock Fintech AS | Non-regulatory press releases

Reference is made to the stock exchange announcement made by Huddlestock Fintech

AS ("Huddlestock" or the "Company") on 14 April 2025 regarding the transaction

agreement with Done.ai - http://done.ai Group AB ("Done.ai - http://done.ai"),

listed on Nasdaq First North Growth Market, whereby Done.ai - http://done.ai

acquires Huddlestock's Nordic Investment-as-a-Service ("IaaS") platform (the

"Transaction").

"The Transaction marks a significant milestone in Huddlestock's strategic

transformation," says Leif Arnold Thomas, CEO of Huddlestock Fintech. "By

divesting our Nordic platform, we have sharpened our focus on Europe and

repositioned the Company around an asset-light, partner-driven

Investment-as-a-Service model. This strategic shift strengthens our balance

sheet, streamlines operations, and allows us to concentrate our resources on

scalable growth through Visigon and our European IaaS platform. We are confident

this strategy positions Huddlestock for long-term value creation. In line with

the terms in the Transaction, Huddlestock will distribute 20 percent of the

Done.ai - http://done.ai shares received in the Transaction to our supportive

shareholders."

SHARES RECIEVED FOR 4.57 PERCENT OWNERSHIP IN DONE.AI - http://done.AI

Huddlestock announces that it today has received 3,761,020 shares, constituting

4.57 percent of the shares outstanding [1], in Done.ai - http://done.ai. The

shares are received following the conversion of its NOK 56 million seller's

credit note ("Seller's Credit") issued in connection with the first closing of

the Transaction announced on 24 April 2025. The Seller's Credit was converted

into Done.ai - http://done.ai shares at a share price of SEK 14 and with a

foreign exchange rate of 0.94374.

The final purchase price of the Transaction, including adjustments for net cash

on 24 April 2025, has been settled at NOK 79 million based on the agreed

enterprise value of NOK 70 million. In addition to the Seller's Credit, NOK 10

million of the purchase price was paid in cash upon the first closing. As the

approval by the Norwegian Financial Supervisory Authority ("NFSA") of the

transfer of the shares in Huddlestock Investor Services AS ("HIS") to Done.ai -

http://done.ai has been obtained, the second and final closing of the

Transaction has been initiated and is expected to be completed shortly. As such

an additional seller's credit note of approximately NOK 13 million will be

issued and subsequently converted into Done.ai - http://done.ai shares at a

share price of SEK 14 and at the prevailing foreign exchange rate at the

conversion date. At the current foreign exchange rate, this conversion reflects

a total of approximately 890,000 additional Done.ai - http://done.ai shares.

DISTRIBUTION TO HUDDLESTOCK SHAREHOLDERS

In total, Huddlestock can receive up to approximately 4,651,020 Done.ai -

http://done.ai shares pending the foreign exchange rates. 20 percent of the

total Done.ai - http://done.ai shares received by Huddlestock in the

Transaction, up to approximately 930,204 shares, will be distributed to

Huddlestock's shareholders. At current market prices the shareholder

distribution reflects approximately 6 percent of Huddlestock's current market

capitalization.

The distribution is expected to be resolved and completed no later than the end

of the third quarter of 2025, with more details to be disclosed in due course.

The remaining 80 percent of the shares will be subject to a lock-up period of

six months from the date of conversion, subject to customary exemptions.

[1] Total shares outstanding in Done.ai - http://done.ai following the

conversion of seller's credit notes issued in relation to recent acquisitions

are 82,377,614, with reference to its stock exchange announcement on 14 July

CONTACTS

* Leif Arnold Thomas, Chief Executive Officer, Huddlestock Fintech AS, +47 982

15 520, leif.thomas@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock is an innovative technology software provider through its

Investment-as-a-service offering, with full operational service support and a

leading financial Consultancy services business. We deliver innovative and

sustainable technology and operational solutions to companies offering financial

products and services.

Find out more at huddlestock.com - https://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/18610776/6341/Download%20announce

ment%20as%20PDF.pdf