Norsk Titanium AS: Registration of New Share Capital in Connection with Underwriting Fee and Additional Warrants

Oslo, Norway, 28 February 2024: Reference is made to the stock exchange announcement by Norsk Titanium AS (the "Company") on 21 February 2024 regarding the final results of the partially underwritten rights issue (the "Rights Issue") and resolution to increase the share capital for settlement of underwriting commitment.

The registration of the share capital relating to the issuance of 16,904,823 shares to the underwriters of the Rights Issue as compensation for their respective underwriting obligation has been registered with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK 23,006,097.20 divided into 287,576,215 shares, each with a nominal value of NOK 0.08. Each share represents one vote at the Company's general meeting.

Furthermore, the issuance of 50 million warrants to Buntel AB, a subsidiary of MolCap Invest AB, as part of the compensation for its underwriting commitment of the Rights Issue, has been registered with the Norwegian Register of Business Enterprises.

The shares and the warrants are expected to be delivered to the underwriters on or about 29 February 2024.

For more information, please contact:

John Andersen, Chairman of Norsk Titanium AS

Email: John.Andersen@scatec.no

Tel: +47 90 17 40 80

Carl Johnson, President & CEO Norsk Titanium AS

Email: Carl.Johnson@norsktitanium.com

Tel: +1 518 324 4010

Ashar Ashary, CFO Norsk Titanium AS

Email: Ashar.Ashary@norsktitanium.com

Tel: +1 518 556 8966

For information about the Rights Issue, please contact Carnegie AS (the "Manager"): +47 22 00 93 40

This information is published in accordance with the requirements of the Continuing Obligations for companies listed on Euronext Growth Oslo and section 5-12 of the Norwegian Securities Trading Act.