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Norsk Titanium AS: Hired Seaport Global Securities to raise additional capital

Oslo, 13 April 2023: Norsk Titanium has hired Seaport Global Securities in New York to raise additional equity and/or debt capital in International markets to support its long-term growth strategy towards its USD 150 million revenue target in 2026.

Reference is made to a stock exchange announcement of 30 March 2023, regarding the completion of a private placement of new shares in the company. Norsk Titanium raised approximately NOK 89 million, equivalent to USD 8.5 million, in gross proceeds in the private placement, through the allocation of 29,517,950 new shares at a subscription price of NOK 3.00 per share.

As noted in the stock exchange announcement upon completion of the private placement, the runway needs to be extended further and the company stated that it would continue to evaluate either additional investment or other opportunities that make strategic sense and secures necessary funding for continued operation. Norsk Titanium’s current burn-rate is approximately USD 2.0 million per month, and the company expects to break-even by the end of 2025.

Please also refers to stock exchange notices of 30 March regarding a potential repair offering of up to 2 million shares at NOK 3 per share, of 6 April regarding registration of the share capital increase, and of 11 April regarding the EGM approval enabling completion of the private placement, authorization of a share capital increase related to a repair offering, and an authorization to the Board to increase the share capital by up to 20%.

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For more information, please contact:

Mike Canario, President and CEO of Norsk Titanium

Email: Michael.Canario@norsktitanium.com Tel: +1 518 324 4010

Ashar Ashary, Chief Financial Officer Norsk Titanium AS

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

About Norsk Titanium AS

Norsk Titanium is a global leader in metal 3D printing, innovating the future of metal manufacturing by enabling a paradigm shift to a clean and sustainable manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®) technology and 700 MT of production capacity, Norsk Titanium offers cost-efficient 3D printing of value-added metal parts to a large addressable market. RPD® technology uses significantly less raw material, energy, and time than traditional energy-intensive forming methods, presenting customers with an opportunity to better manage input costs, logistics, and environmental impact. RPD® printed parts are already flying on commercial aircraft, and Norsk Titanium has gained significant traction with large defense and industrial customers

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