Polight ASA

Pre-Annual General Meeting Information • Mar 25, 2024

Key information relating to the preferential rights issue to be carried out by poLight ASA

Key information relating to the preferential rights issue to be carried out by poLight ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN CANADA,

JAPAN, AUSTRALIA, HONG KONG OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN

WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS

ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED

HEREIN

Reference is made to the stock exchange announcement published poLight ASA (the

"Company" or "poLight") on 22 March 2024 regarding the contemplated partly

underwritten rights issue in the Company, to raise gross proceeds of up to NOK

160 million (the "Rights Issue"). Key information relating to the Rights Issue

is set out below.

· Date on which the terms and conditions of the Rights Issue were announced:

22 March 2024

· Last day including right: 18 April 2024

· Ex-date: 19 April 2024

· Record Date: 22 April 2024

· Date of approval: 18 April 2024

· Maximum number of new shares: Will be determined and announced after market

close on 18 April 2024, see "other information" below

· Subscription price: Will be determined and announced after market close on

18 April 2024, see "other information" below

· Ratio preferential rights: To be announced when final number of new shares

is determined

· Subscription ratio: To be announced when final number of new shares is

determined

· Manager: Pareto Securities AS

· Will the rights be listed: Yes

· ISIN for the preferential rights: To be announced when clarified

· Other information: The Rights Issue is partly underwritten, with an

underwriting amount of NOK 130 million.  An overview of the underwriters is

available on poLight's website together with the notice of the Extraordinary

General Meeting. In accordance with the underwriting agreement, the subscription

price in the Rights Issue is proposed by the board to be the theoretical ex

rights price (TERP) based on the volume-weighted average price (VWAP) of the

Company's shares on Oslo Børs on the date of the extraordinary general meeting

(the "EGM"), less a discount of at least 30%. The final discount and the

subscription price for the new shares to be issued in the Rights Issue, and,

thus, the number of new shares and the amount of the share capital increase in

the Rights Issue, will be announced through a stock exchange announcement as

soon as possible after market close on 18 April 2024 and be reflected in the

final proposed resolution to the EGM. Please refer the notice for the EGM for

further information, published by the Company on 22 March 2024

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

About poLight ASA

poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics

technology, leveraging its proprietary polymer and piezo MEMS technology.

Founded in 2005, its first product TLens® replicates "the human eye" experience

in autofocus cameras used in applications such as AR/MR devices, smartphones,

wearables, webcams and other consumer devices, industrial barcode scanners and

machine vision systems, and healthcare applications. With over 160 granted

patents, poLight's technology delivers extremely fast focus, small

footprint, ultra-low power consumption, no magnetic interference, and constant

field of view, enabling better imaging system performance and new user

experiences compared to alternative technologies.  poLight is based in Horten,

Norway, with employees in Finland, France, UK, US, China, Taiwan, and the

Philippines. For more information, please visit https://www.polight.com.

This information is published in accordance with the requirements of the

Continuing Obligations.