Nordic Unmanned ASA

Share Issue/Capital Change • Mar 5, 2021

Successful private placement for Nordic Unmanned - well equipped to drive market consolidation

Successful private placement for Nordic Unmanned - well equipped to drive market consolidation

5.3.2021 06:00:00 CET | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

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

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER

JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL.

Sandnes, 5th of March 2021 - Reference is made to the stock exchange

announcement published 4 March 2021 by Nordic Unmanned AS (the "Company"),

announcing a contemplated private placement of new shares (the "Offer Shares")

in the Company, with gross proceeds of up to NOK 100 million (the "Private

Placement").

Nordic Unmanned is pleased to announce that the Private Placement has been

successfully completed, through an allocation of 2,531,645 new shares in the

Company at a price of NOK 39.50 per share. The gross proceeds of the Private

Placing is NOK 100 million. The Private Placement was substantially

oversubscribed at the NOK 39.50 price point.

"I am pleased with the strong support from our investors, which gives us the

opportunity to move ahead with our plan for value accretive acquisitions,

supplementing our organic growth pathway. The drone industry is still at a

nascent stage with huge growth opportunities ahead. We have mapped the industry

in Europe, identifying a number of potential acquisition targets. Being the

first publicly listed drone operator in Europe gives Nordic Unmanned a

tremendous opportunity to take an active role in the structural development of

the industry going forward," said Knut Roar Wiig, CEO and co-founder of Nordic

Unmanned.

Nordic Unmanned was publicly listed on Euronext Growth in Oslo in December 2020,

following a private placement of NOK 99 million, with the main purpose of

expanding the fleet of unmanned aircrafts. Since then, one CAMCOPTER S-100 RPAS

system is added to the fleet, and further additions are on the way.

"We have a solid contract backlog and a very interesting sales pipeline, which

means that we will be able to create value by continuing to expand our fleet,"

said Knut Roar Wiig.

SpareBank 1 Markets AS (the "Manager") has been retained as sole bookrunner to

advise on and carry out the Private Placement.

Allocation to investors and payment instructions is expected to be communicated

on or about the 5th of March 2021. The Offer Shares will be settled with

existing and unencumbered shares in the Company that are already listed on

Euronext Growth, pursuant to a share lending agreement in order to facilitate

delivery of listed shares to investors on a delivery versus payment basis. The

Offer Shares will be tradable from allocation.

The Manager will settle the share loan with a corresponding number of new shares

in the Company which were resolved issued by the Company's Board of Directors on

the 4th of March 2021 in accordance with the authorization granted by the

Company's extraordinary general meeting held on the 24th of November 2020.

Following registration of the share capital increase pertaining to the Offer

Shares with the Norwegian Register of Business Enterprises, the Company will

have a registered share capital of NOK 22,718,677 divided into 22,718,677

shares, each with a nominal value of NOK 1.00.

The Company will consider to carry out a subsequent offering with non-tradeable

subscription rights of up to 317,000 new shares in the Company (the "Subsequent

Offering") towards existing shareholders in the Company as of 4 March 2021 (as

registered in the Norwegian Central Securities Depositary ("VPS") as of the 8th

of March 2021), who (i) were not allocated Offer Shares in the Private

Placement, and (ii) are not resident in a jurisdiction where such offering would

be unlawful or, would (in jurisdictions other than Norway) require any

prospectus, filing, registration or similar action. Whether a Subsequent

Offering will be carried out will inter alia depend on the development of the

Company's shares price following completion of the Private Placement.

Important Notice

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 of the Company. 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.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or their

securities in the United States or to conduct a public offering of securities in

the United States. Any sale in the United States of the securities mentioned in

this announcement will be made solely to "qualified institutional buyers" as

defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that EEA Member State within the meaning of

the Prospectus Regulation, i.e., only to investors who can receive the offer

without an approved prospectus in such EEA Member State. The expression

"Prospectus Regulation" means Regulation 2017/1129 as amended together with any

applicable implementing measures in any EEA Member State.

This communication is only being distributed to and is only directed at persons

in the United Kingdom that are (i) investment professionals falling within

Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,

and other persons to whom this announcement may lawfully be communicated,

falling within Article 49(2)(a) to (d) of the Order (all such persons together

being referred to as "relevant persons"). This communication must not be acted

on or relied on by persons who are not relevant persons. Any investment or

investment activity to which this communication relates is available only for

relevant persons and will be engaged in only with relevant persons. Persons

distributing this communication must satisfy themselves that it is lawful to do

so.

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 the Company believes that these assumptions were

reasonable when made, the 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 the

Company's control.

Actual events may differ significantly from any anticipated development due to a

number of factors, including without limitation, changes in investment levels

and need for the Company's services, changes in the general economic, political

and market conditions in the markets in which the Company operates, the

Company's ability to attract, retain and motivate qualified personnel, changes

in the Company's ability to engage in commercially acceptable acquisitions and

strategic investments, and changes in laws and regulation and the potential

impact of legal proceedings and actions. Such risks, uncertainties,

contingencies and other important factors could cause actual events to differ

materially from the expectations expressed or implied in this release by

forward-looking statements. The Company does not provide any guarantees that the

assumptions underlying the forward-looking statements in this announcement are

free from errors nor does it accept any responsibility for the future accuracy

of the opinions expressed in this announcement or any obligation to update or

revise the statements in this announcement to reflect subsequent events. You

should not place undue reliance on any forward-looking statements in this

announcement.

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

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

The Company does not undertake any 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. Neither the Manager nor any of its affiliates make any

representation as to the accuracy or completeness of this announcement and none

of them accept any responsibility for the contents of this announcement or any

matters referred to herein.

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned delivers comprehensive data solutions through industry leading

expertise, to assist both public and private customers in the transition to

unmanned technology. The focus is to support demanding clients by collecting

time-critical data with the use of unmanned technology.

Founded in 2014, the company has offices in Sandnes, Oslo, and Frankfurt, and

has quickly become one of Europe's leading providers of unmanned systems and

services, with operations across the continent.The company is ISO 9001-2015

certified by DNV-GL as a UAV and sensor operator.

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

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/368/456/Download%20announcement%2

0as%20PDF.pdf