Norsk Titanium AS: Agreement on USD 10 million Loan Facility with Claret Capital Partners Ltd. to strengthen liquidity and support strategic growth

Oslo, Norway, 16 June 2025: Norsk Titanium AS (Euronext: NTI, OTCQX: NORSF) (the "Company") announces that it has entered into a loan agreement with Claret Capital Partners Ltd. ("Claret") for a term loan facility of up to USD 10 million (the "Loan Facility"). The facility from its growth credit fund, Claret European Specialty Lending Company Annex Fund I, will support the Company’s working capital requirements and general corporate purposes and adds financial flexibility as the company progresses towards its stated operational targets.

The Loan Facility will be made available in two tranches of USD 5 million each. The first tranche is immediately available upon execution of definitive agreements, while the second tranche will be accessible through 30 June 2026, subject to certain terms and conditions.

As part of the loan agreement, Claret will receive warrants for each tranche drawn, allowing subscription for shares in the Company with a total subscription value of USD 1.2 million (USD 600,000 per tranche). The number of shares that may be subscribed with the warrant is initially 4,583,643 based on the volume weighted average share price over the 15 business days preceding execution of the loan agreement for the first tranche. The issuance of the warrants and the waiver of shareholders' pre-emptive rights were approved by the Company’s Annual General Meeting (AGM) on 6 May 2025, where the Board of Directors were authorized to enter into definitive loan and warrant agreements. The number of shares that may be subscribed with the warrants is subject to adjustment pursuant to the AGM resolution.

“We value our long-standing relationship with Claret and are pleased to continue building on that collaboration,” said Ashar Ashary, CFO of Norsk Titanium. Claret is a U.K. based private credit fund specialized in providing growth capital to innovative businesses. “We are happy to work with the team at Norsk Titanium again and have seen significant progress toward commercialization over the years,” said Daniel Mallon, Principal at Claret.

Please refer to the AGM notice issued on 15 April 2025 to review further details of the Loan Facility and the warrants.

For more information, please contact:

Ashar A. Ashary, CFO, Norsk Titanium AS

Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966