Zwipe AS — Capital/Financing Update 2023

Feb 27, 2023

Zwipe AS - Updated key information relating to the rights issue

Zwipe AS - Updated key information relating to the rights issue

OSLO, NORWAY - 27 February 2023 - Reference is made to the fully guaranteed

rights issue in Zwipe AS (the "Company"), raising gross proceeds of

approximately NOK 100 million as approved by the Company's general meeting (the

"Rights Issue"). The information below updates the key information relating to

the Rights Issue announced by the Company on 22 November 2022.

Date on which the terms and conditions of the preferential rights issue were

announced: 22 November 2022

Last day including right: 27 February 2023

Ex-date: 28 February 2023

Record Date: 1 March 2023

Date of approval: 2 December 2022 and 15 February 2023, respectively

Number of new shares: 20,862,047

Subscription price: NOK 4.80

Ratio subscription rights: Each existing shareholder as of 27 February 2023 (and

being registered as such in the Norwegian Central Securities Depository,

Euronext Securities Oslo, (the VPS) as at the expiry of 1 March 2023 (the record

date)) will be granted one (1) subscription right for each share registered as

held by the shareholder on the record date.

Subscription ratio: Nine (9) subscription rights will give the holder the right

to subscribe for five (5) new shares (i.e. the holding of less than 9

subscription rights will not give the holder the right to subscribe for any new

shares).

Manager: Erik Penser Bank AB

Will the subscription rights be listed - yes/no: Yes, subject to a prospectus

for the Rights Issue (the "Prospectus") being approved by the Norwegian

Financial Supervisory of Norway (the "NFSA") and published, the subscription

rights will be admitted to trading on Euronext Growth Oslo. The subscription

rights will be admitted to trading on Nasdaq First North Growth Market once the

Prospectus approved by the NFSA is passported to Sweden and published.

ISIN for the subscription rights: The subscription rights to be listed on

Euronext Growth Oslo will have ISIN NO 001 2818048 and ticker "ZWIPT" and the

subscription rights to be listed on Nasdaq First North Growth Market will have

ISIN SE 001 9891334 and ticker "ZWIPE TR".

Other information: The Rights Issue is fully guaranteed through a combination of

subscription commitments and underwriting commitments. The underwriting

commitments will expire in the event that the relevant underwriters are not

notified of any allocation under the underwriting agreements within 30 April

2023. Subject to the approval by the NFSA, passporting to Sweden and publication

of the Prospectus, the subscription period for the Rights Issue will commence on

6 March 2023 at 09:00 hours (CET) and end on 20 March 2023 at 16:30 hours (CET)

and the subscription rights in the Rights Issue will be tradable from and

including 09:00 hours (CET) on 6 March 2023 to 16:30 hours (CET) on 14 March

2023. Any changes in the dates included in this release will be communicated to

the market by the Company.

This information is published in accordance with the requirements of the

Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext

Growth Oslo.

##

About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer

future. We work with great passion across networks of international

organizations, industries and cultures to make convenience safe and secure. We

are pioneering next-generation biometric card and wearables technology for

payment and physical & logical access control and identification solutions. We

promise our customers and partners deep insight and frictionless solutions,

ensuring a seamless user experience with our innovative biometric products and

services. Zwipe is headquartered in Oslo, Norway, with a global presence.

To learn more, visit http://www.zwipe.com.

##

For more information, please contact:

Danielle Glenn, CFO and Head of IR

ir@zwipe.com