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Norsk Titanium AS: Share Capital Increase Registered

Oslo, Norway, 13 November 2023: Reference is made to the stock exchange notice by Norsk Titanium AS ("Norsk Titanium" or the "Company") published on 3 November 2023 regarding a bridge loan of NOK 21.9 million from White Crystals Ltd. The loan from White Crystals is non-interest bearing but the Company has paid a one-time facilitation fee equal to 250,000 common shares, resolved issued by the Board of Directors of Norsk Titanium at a subscription price of NOK 0.08, pursuant to an authorisation to increase the share capital granted by an extraordinary general meeting on 11 April 2023.

The issuance of the 250,000 new shares as resolved by the Board of Directors has been registered with the Norwegian Register of Business Enterprises. Following registration, the share capital of Norsk Titanium is NOK 21,601,452.32 divided into 270,018,154 shares, each share having a par value of NOK 0.08 and carrying one vote in the Company's general meeting.

For more information, please contact:

John Andersen, Chairman of Norsk Titanium AS

Email: John.Andersen@scatec.no

Tel: +47 90 17 40 80

Ashar Ashary, CFO of 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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