Desert Control AS

Share Issue/Capital Change • Nov 17, 2023

Desert Control AS - Final results of the Subsequent Offering

Desert Control AS - Final results of the Subsequent Offering

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN

OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,

ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE

"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION

OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH

THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Sandnes, Norway, 17 November 2023: Reference is made to the stock exchange

announcement published by Desert Control AS ("Desert Control" or the "Company")

on 1 November 2023 regarding the commencement of the subscription period (the

"Subscription Period") in the subsequent offering (the "Subsequent Offering") of

up to 2,222,222 new shares in the Company (the "Offer Shares") at a subscription

price of NOK 6.75 per share. Reference is also made to the stock exchange notice

from the Company on 16 November 2023, with the preliminary results of the

Subsequent Offering.

The Subscription Period for the Subsequent Offering ended on Thursday 16

November 2023 at 16:30 CET. By the end of the Subscription Period, the Company

had received valid subscriptions for 1,181,188 Offer Shares in the Subsequent

Offering. The board of the Company has today resolved that a total of 1,181,188

Offer Shares will be allocated at the Offer Price in accordance with the

allocation criteria set out in the national prospectus, raising gross proceeds

of approximately NOK 8 million.

Investors that are allocated Offer Shares can access information on the number

of Offer Shares allocated through VPS. The due date for payment of the Offer

Shares is on 21 November 2023.

Subject to duly and timely payment of the Offer Shares, the share capital

increase is expected to be registered in the Norwegian Register of Business

Enterprises on or about 27 November 2023 and will be delivered to the VPS

accounts of the subscribers shortly thereafter, expected on or about 28 November

2023. First day of trading of the Offer Shares on Euronext Growth Oslo is

expected on or about 28 November 2023. A separate announcement will be made when

the share capital increase has been registered. The Offer Shares will have equal

rights and rank pari passu with the Company's other shares.

Arctic Securities AS and Pareto Securities AS are acting as managers for the

Subsequent Offering (the "Managers"). Advokatfirmaet Selmer AS is acting as

legal counsel to the Company, and Advokatfirmaet Thommessen AS is acting as

legal advisor to the Managers.

For more information, please contact:

Ole Kristian Sivertsen

President and Group CEO

Email: oks@desertcontrol.com

Mobile: +47 957 77 777

Leonard Chaparian

Chief Financial Officer

Email: leonard.chaparian@desertcontrol.com

Mobile: +47 90 66 55 40

About Desert Control:

Desert Control specializes in climate-smart AgTech solutions to combat

desertification, soil degradation, and water scarcity. Its patented Liquid

Natural Clay (LNC) restores and enhances soil ecosystems to reduce water usage

and improve the efficiency of fertilizers and natural resources for agriculture,

forests, and green landscapes. LNC enables sandy and arid soil to retain water

and nutrients, thus increasing crop yields, plant health, and ecosystem

resilience while preserving water and natural resources by up to 50%.

For more information about Desert Control, visit

https://www.desertcontrol.com.

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.