Zaptec AS — Capital/Financing Update 2023

Dec 20, 2023

Zaptec ASA: Increased liquidity reserve and financial flexibility by MNOK 230

Zaptec ASA: Increased liquidity reserve and financial flexibility by MNOK 230

20.12.2023: Zaptec ASA ("Zaptec", OSE ticker: ZAP)

Zaptec has today signed a new agreement with DNB which increases the liquidity reserve with MNOK 230 by an increase of the overdraft facility from 70 MNOK to 300 MNOK with immediate effect. The new facility is backed by Export Finance Norway which guarantees for 50% of the credit limit.

"We are very pleased to get this financing in place which provides a significant increase to our liquidity reserve. In addition to this we have managed to adjust production commitments towards our production partners Westcontrol and Sanmina for the first half of 2024 while maintaining flexibility to scale up in tandem with anticipated growth. In sum this provides Zaptec with the strength, flexibility and ability to maneuver in the dynamic and growing EV market” says Acting CEO and CFO, Kurt Østrem.

For more information:

Kurt Østrem, Acting CEO and CFO, Zaptec ASA

Tel: + 47 40 40 47 00, e-mail: kurt@zaptec.com

Kristian Sæther, Finance Director & IR, Zaptec ASA

Tel: + 47 90 70 85 12, e-mail: investor@zaptec.com

About Zaptec ASA:

Zaptec is a technology company within Electric vehicle (EV) charging systems in Europe. The company develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables large number of charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charging columns, Zaptec Portal, and Zaptec Sense. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.