Nordic Unmanned ASA

Capital/Financing Update • Aug 26, 2024

Nordic Unmanned ASA provides additional update on financial restructuring and expected time of closing

Nordic Unmanned ASA provides additional update on financial restructuring and expected time of closing

26.8.2024 20:30:23 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

Reference is made to earlier stock exchange announcements by Nordic Unmanned ASA

(the "Company") (ticker: NUMND) regarding the financial restructuring originally

announced on 14 May 2024, including the last update provided on 14 August 2024.

The Company is working with the banks to close out the final conditions for

completion of amendments to the Company's loan facilities, which is a condition

precedent for the completion of the NOK 23.5 million private placement, the NOK

23.5 million subsequent offering and the EUR 5,172,414 bank debt conversion, all

approved by the Company's extraordinary general meeting held on 11 June 2024

(the "EGM"). The Company continues to expect that closing of the financial

restructuring will take place within the end of August 2024, in line with the

last update from 14 August 2024. Delivery of shares to subscribers in the

subsequent offering will take place as soon as practically possible thereafter,

either end of August or beginning of September 2024.

Once the share capital changes related to the financial restructuring as

approved by the EGM have been registered with the Norwegian Register of Business

Enterprises, the Company's share capital will be NOK 17,336,312.94 divided into

1,733,631,294 shares, each with a par value of NOK 0.01. The Company will make

an announcement once the share capital changes have been registered, and the new

shares will be immediately tradable thereafter. The reverse share split approved

by the Company's Annual General Meeting on 28 June 2024 will take affect at a

later date as determined by the Board of Directors, and separate announcements

will be made at such time.

Subject to final documentation and completion of the financial restructuring,

the Company and Tjelta Eiendom AS will each pay to the banks EUR 1 million,

repaying in full the EUR 2 million bridge loan guaranteed by Tjelta Eiendom AS

from February 2024. Following such payments, Tjelta Eiendom AS will have a

remaining claim against the Company in the amount of EUR 2 million, which Tjelta

Eiendom AS may elect to convert into shares in the Company at a price of NOK

0.05 per share as described in the announcement on 14 May 2024 and in accordance

with the authorisation provided by the EGM for this purpose.

Tjelta Eiendom AS has also stated its willingness to provide the Company with

NOK 600,000 in additional equity at a price of NOK 0.05 per share to cover

interest payments going forward, should the Company in the future resolve to

direct such share issue towards Tjelta Eiendom AS.

DISCLOSURE REGULATION

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

Market Abuse Regulation (MAR) and is subject to the disclosure requirements

pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading

Act. This stock exchange announcement was published by Espen A. Navestad, Head

of Accounting of the Company on 26th August 2024, at 20:30 CEST.

CONTACTS

* Stig H. Christiansen, CEO, Nordic Unmanned ASA, +47 478 07 813,

shc@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned is a leading European manufacturer (OEM) and certified operator

of unmanned aircraft systems ("UAS").

We are serving large corporations, government agencies and security customers by

offering systems, solutions and flight services for environmentally friendly

delivery of productivity improvements and time critical, actionable data

insights and logistics services.

Our solutions and services are organized in the three business segments as

follows:

Flight Services: is a technology-agnostic flight services operator providing

time-critical actionable data to large corporate and governmental customers. The

segment also includes NUAer AS and Resale.

AirRobot: is an Equipment Manufacturer (OEM) with a leading product platform in

lightweight drones and sensors (payloads) tailored for defense and security.

DroneMatrix: is an Equipment Manufacturer (OEM) offering a fully integrated and

autonomous drone system with proprietary software for surveillance and security.

Nordic Unmanned is ISO 9001:2015 and ISO 14001:2015 certified for the operation,

maintenance, and sales of unmanned systems and sensor technology. AirRobot is

ISO 9001:2015 and EN 9100:2018 certified for its development and production

capabilities of unmanned systems.

Founded in Norway in 2014, Nordic Unmanned has offices in Sandnes (NO),

Cranfield (UK), Hasselt (BE) and Arnsberg (GER). Nordic Unmanned also comprise

joint venture - Omni Unmanned SA with OHI Group SA (registered in Luxemburg) and

joint venture - NUAer AS with Aeromon OY (registered in Norway).

For more information visit - https://nordicunmanned.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/18212528/4895/Download%20announce

ment%20as%20PDF.pdf