Kahoot! ASA

Share Issue/Capital Change • Nov 28, 2020

Kahoot! AS - Completion of the acquisition of Drops

Kahoot! AS - Completion of the acquisition of Drops

Oslo, Norway, 28 November 2020 – Reference is made to Kahoot! AS' announcement made on 24 November 2020, regarding the acquisition of all shares in PlanB Labs OÜ ("Drops"). The acquisition has now been completed and the initial consideration for the Drops shares has been settled by a combination of cash and new Kahoot! shares to be issued.

The Board of Directors of Kahoot! has accordingly resolved to increase the share capital of Kahoot! with NOK 85,916.90 by the issuance of 859,169 consideration shares to the shareholders of Drops at a subscription price of NOK 62.63 per share in accordance with the Drops share purchase agreement. The selling shareholders of Drops have entered into lock-up agreements with Kahoot! pursuant to which the consideration shares are subject to a lock-up period of two years from completion of the acquisition. Following this share issue there will be 446,091,967 issued and outstanding shares in Kahoot!

For further information please contact:

Eilert Hanoa, CEO

Phone: +47 928 32 905

Email: eilerth@kahoot.com

Ken Østreng, CFO

Phone: +47 911 51 686

Email: keno@kahoot.com

About Kahoot!

Kahoot! is on a mission to make learning awesome! We want to empower everyone, including children, students, and employees to unlock their full learning potential. Our learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive compelling engagement. In addition, our family of apps takes math learning to a new level and empowers children to learn to read through play. Organizations can also connect and engage their work teams with Actimo, our employee engagement platform. Launched in 2013, Kahoot!’s vision is to build the leading learning platform in the world. In the last 12 months, more than 200 million games have been played on the Kahoot! platform with over one billion participating players in 200 countries. The company is headquartered in Norway with offices in the US, the UK, France, Finland, Denmark and Spain. Let’s play!

About Drops

Drops teaches the essentials of language – alphabets and vocabulary – by combining engaging word puzzles with visual association. With 42 languages and 25 million users since launch and counting, Drops is one of the fastest-growing language platforms in the world. The app’s 5-minute sessions of swipe-based word games are fast, fun, and effective and quickly become as second nature as an Instagram scroll. Drops’ companion apps Scripts teaches learners how to read and write (and in the case of ASL, sign) 4 alphabets and 4 character-based writing systems, and Droplets is designed specifically to teach foreign languages to kids aged 8-17. In 2018, Google named Drops the best app of the year, and in 2019 Fast Company named Drops as one of the top 10 most innovative education companies in the world. The Drops suite of apps – Drops, Scripts and Droplets are available for free on iOS and Android.