Oslo, Norway ,2 May 2024 : Reference is made to the stock exchange announcement byNorsk Titanium AS (the "Company") on29 April 2024 regarding a private placement of new shares to be issued by the Company (the "Private Placement"). Scatec Innovation AS has agreed to lend existing and unencumbered shares in the Company, already being traded on Euronext Growth Oslo, to the managers for the Private Placement. Borrowed shares will be used for settlement towards investors having been allocated shares in the Private Placement and redelivered toScatec Innovation AS upon registration of the share capital increase pertaining to the Private Placement. Pursuant to the share lending arrangement, the managers have borrowed a total of 53,703,630 shares from Scatec Innovation AS to settle tranche 1 of the Private Placement. Scatec Innovation AS is a company closely associated withJohn Andersen , who is the chairman of the Company's board of directors. Please see the attached notification of trade for information regarding the lending of shares in the Private Placement by a close associate of a primary insider. For more information, please contact:Ashar Ashary , CFO Norsk Titanium AS Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966 This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
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