IDEX Biometrics ASA — Capital/Financing Update 2026

Mar 5, 2026

IDEX Biometrics secures NOK 90 million in private placement and exclusive technology partnership with Leading APAC Biometric ID Solutions Provider

IDEX Biometrics secures NOK 90 million in private placement and exclusive technology partnership with Leading APAC Biometric ID Solutions Provider

The partnership includes an initial investment as well as initial purchase

order valued at USD 1.75 million, exclusive technology agreement, and a

performance-linked option for up to 5% of IDEX share capital

TRANSACTION HIGHLIGHTS

* ID Centric to subscribe for shares representing approx. 20 % of the

outstanding shares in IDEX Biometrics ASA post-investment for approx. NOK 90

million via a directed private placement, at an agreed subscription price of

NOK 5.83

* ID Centric committing to exclusive use of IDEX sensors and technology across

its biometric ID card offering

* Initial purchase order valued at USD 1.75 million placed at signing, with

deliveries commencing April 2026

* ID Centric is actively engaged in securing national ID and biometric

identity programs across several Asia-Pacific markets

* ID Centric to be appointed as authorized reseller of IDEX Access Cards and

Payment Cards across its markets

* Option being granted to ID Centric to subscribe for newly issued shares

representing additional 5 % of IDEX share capital upon on sensor purchases

exceeding 10 million units by 31 December 2027

* Comprehensive cooperation across technology development, product strategy,

and go-to-market execution

OSLO, NORWAY --- PRIVATE PLACEMENT AND EXCLUSIVE PARTNERSHIP

IDEX Biometrics today announces a private placement as well as a signed Term

Sheet for partnership agreement with ID Centric, a leading provider of

biometric identity solutions with secured national ID contracts across several

markets in the Asia-Pacific region. First binding purchase order of USD 1.75

million submitted at signing of Term Sheet 5 March 2026.

As part of the Term Sheet, ID Centric has made a firm commitment to invest

approximately NOK 90 million in IDEX through a private placement, acquiring a

20 % equity stake in the company. The subscription price has been negotiated

based on a 30-day volume weighted average price (VWAP) of the IDEX share on

the Oslo Stock Exchange as of 2 March 2026. In connection with the investment,

ID Centric simultaneously places an initial binding purchase order for IDEX

biometric sensors valued at USD 1.75 million, with deliveries scheduled to

commence in April 2026.

Strategic Rationale

The partnership marks a significant expansion of IDEX's addressable market

into national and government-issued biometric identity cards --- a large and

fast-growing segment driven by regulatory requirements across emerging and

developed markets globally. ID Centric brings established relationships with

government issuers and deep regional expertise across the APAC region,

complementing IDEX's world-leading biometric sensor technology and card

integration capabilities.

Under the terms of the agreement, ID Centric will exclusively deploy IDEX

sensors and biometric technology across its product offerings. The companies

will cooperate closely on technology roadmap, product development, and joint

go-to-market activities to accelerate commercial deployment at scale. IDEX

retains the right to supply its technology to other partners and different

verticals globally.

IDEX has agreed with the Convertible Bond holders, a fund managed by Heights

Capital Management, to redeem the outstanding NOK 28.3M at 20% premium,

subject to the private placement with ID Centric being completed.

Purchase Order and Commercial Scale

The initial binding purchase order of USD 1.75 million represents the first

tranche of what is anticipated to be a significant and sustained volume

relationship. ID Centric is in the process of securing contracts to deliver

several million biometric ID cards in its markets, providing IDEX with a

compelling near-term revenue ramp and improved long-term volume visibility in

a new product category.

ID Centric will additionally act as an authorized channel partner and reseller

for IDEX Access Cards and Payment Cards across its markets, extending the

commercial scope of the relationship beyond national ID.

The Term Sheet will without undue delay be negotiated further and transformed

into definitive agreements regulating the partnership and purchase and

delivery of sensors in further detail.

Performance-Linked Option

As part of the partnership, IDEX grants ID Centric an option to acquire new

shares representing an additional 5 % of IDEX's share capital at NOK 5.83 per

share, and exercisable upon ID Centric sensor purchases exceeding 10 million

sensors by 31 December 2027. The option aligns the long-term interests of both

companies and creates a strong incentive for accelerated commercial execution.

Terms and conditions of the option, including exercise price, will be

disclosed in accordance with applicable regulatory requirements.

Capital and Governance

The NOK 90 million investment will be applied to support IDEX's

commercialization activities, product development, and working capital

requirements as the company scales its operations to meet growing demand. The

first tranche of the investment (5%) is resolved issued by IDEX's board of

directors on 5 March 2026 under the company's existing share issue

authorization and the second tranche (15%) will be closed after and subject to

approval by the IDEX shareholders' meeting. The subscription price in both

tranches is agreed at NOK 5.83 per share, negotiated based on the 30-day VWAP

of the IDEX share prior to 2 March 2026.

In the first tranche of the investment, the board of directors resolved to

increase the share capital with NOK 3,824,233 by issuance of 3,824,233 new

shares. Following registration of the share capital increases pertaining to

the first tranche, IDEX' share capital will be NOK 68,836,196 divided into

68,836,196 shares, each with a nominal value of NOK 1 and each carrying one

vote at the company's general meeting.

An extraordinary general meeting (EGM) will be held on or about 27 March 2026

to seek the necessary approval for the second tranche, among other things, and

the invitation will be published in a separate notice in accordance with Oslo

Stock Exchange requirements.

ID Centric will nominate a representative to the Board of Directors of IDEX

Biometrics.

STATEMENT FROM ID CENTRIC

"We are very impressed with IDEX technology, which we believe is the best in

the world, and with the IDEX team, with whom we have developed a very strong

working relationship. We believe that together we will commercialize biometric

ID cards at scale, delivering solutions that set a new global standard for

secure and convenient identity verification".

Michael Gardiner, Chief Executive Officer, ID Centric

STATEMENT FROM IDEX BIOMETRICS

"This is an important milestone for IDEX. The NOK 90 million private placement

allows us to redeem the convertible bond, while this partnership brings both

capital and commercial volume --- exactly what we need to accelerate

deployment. In today's era of accelerating AI-driven threats, companies

struggle to find solutions that are fit for purpose and compliant with

evolving regulatory requirements. This is a global challenge, and IDEX is

solving it. With a recapitalised balance sheet and this partnership in place,

IDEX is now positioned to execute our business plan faster." Anders

Storbråten, Chief Executive Officer, IDEX Biometrics ASA

ABOUT ID CENTRIC

ID Centric Group Pte Ltd is a developer, manufacturer, and supplier of highly

advanced electronic identity solutions to governments and commercial

organizations.

The company's primary technology is based on multifunction biometric

smartcards that offer secure storage of personal credentials and sensitive

data, and function as a trusted single source of identity across all public

and private sector applications.

Headquartered in Singapore, ID Centric are partnered with several of the

world's leading security and identity management organizations. Working with

powerful local market stakeholders, to deliver trusted physical and digital

identity solutions to governments and their citizens throughout Asia Pacific

and other regional markets.

https://idcentricgroup.com/

ABOUT IDEX BIOMETRICS ASA

IDEX Biometrics ASA is a leading provider of fingerprint identification

technologies, offering a full suite of biometric solutions for payment cards,

access cards, and national identity documents. The company's technology

enables secure, contactless biometric authentication directly on the card ---

without a network connection or external reader infrastructure. IDEX is listed

on the Oslo Stock Exchange under the ticker IDEX.

https://idexbiometrics.com/

CONTACTS

Anders Storbråten, CEO and CFO, Mobile: +47 416 38 582

IDEX Biometrics ASA | ir@idexbiometrics.com | www.idexbiometrics.com

Important Information

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Anders Storbråten, CEO and CFO of IDEX

Biometrics ASA on 5 March 2026 at the time of this announcement.

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities. The distribution of this

announcement and other information may be restricted by law in certain

jurisdictions. Copies of this announcement are not being made and may not be

distributed or sent into any jurisdiction in which such distribution would be

unlawful or would require registration or other measures. Persons into whose

possession this announcement or such other information should come are

required to inform themselves about and to observe any such restrictions.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "believe", "expect",

"anticipate", "strategy", "intends", "estimate", "will", "may", "continue",

"should" and similar expressions. The forward-looking statements in this

release are based upon various assumptions, many of which are based, in turn,

upon further assumptions. Although IDEX believes that these assumptions were

reasonable when made, these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies and other important

factors which are difficult or impossible to predict and are beyond its

control.

The information, opinions and forward-looking statements contained in this

announcement speak only as at its date and are subject to change without

notice. IDEX undertakes no obligation to review, update, confirm, or to

release publicly any revisions to any forward-looking statements to reflect

events that occur or circumstances that arise in relation to the content of

this announcement.

This announcement is for information purposes only and is not to be relied

upon in substitution for the exercise of independent judgment. It is not

intended as investment advice and under no circumstances is it to be used or

considered as an offer to sell, or a solicitation of an offer to buy any

securities or a recommendation to buy or sell any securities of IDEX.

Neither IDEX nor its advisors accept any liability arising from the use of

this announcement. This information is subject to the disclosure requirements

pursuant to Section 5-12 the Norwegian Securities Trading Act.