Desert Control AS

Share Issue/Capital Change • Nov 16, 2023

Desert Control AS - Preliminary result of the Subsequent Offering

Desert Control AS - Preliminary result 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, 16 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.

The Subscription Period expired today, 16 November 2023, at 16:30 hours (CET).

The Company has been informed by the Managers (as defined below) that at the end

of the Subscription Period, and based on a preliminary count, valid

subscriptions had been received for a total of approximately 1,197,403 Offer

Shares.

The final number is expected to be ready, resolved by the Company and allocated

on 17 November 2023 in accordance with the timeline for the Subsequent Offering,

as set forth in the national prospectus prepared therefor. Further announcements

in respect of the Subsequent Offering and the Offer Shares will be made in due

course.

The due date for payment of the Offer Shares is on or about 21 November 2023.

Subject to due payment of the Offer Shares by the subscribers, the share capital

increase relating to the Subsequent Offering is expected to be registered with

the Norwegian Register of Business Enterprises on or about 27 November 2023 and

the Offer Shares will thereafter be delivered to the VPS accounts of the

subscribers to whom they are allocated, 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.

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.