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Norsk Titanium AS - Annual general meeting held

14 May 2024: Norsk Titanium AS (the "Company"), held its annual general meeting as a digital meeting on 14 May 2024 at 15:00 hours (CEST).

All proposals were resolved as presented in the notice convening the annual general meeting dated 23 April 2024, and as revised with regards to the authorization for the board to issue shares to execute the Long-Term Incentive Program on 8 May 2024, as further set out in the minutes from the general meeting attached hereto.

The general meeting resolved an authorisation for the board of directors to issue new shares, including for purposes of issuing 56,296,370 new shares ("Offer Shares") in tranche 2 ("Tranche 2") of the Company's completed private placement as announced on 29 April 2024 (the "Private Placement"). The board of directors will resolve the share capital increase pertaining to the Offer Shares when the authorisation resolved by the general meeting is registered in the Norwegian Register of Business Enterprises, expected take place on or about 15 May 2024.

Settlement of shares in Tranche 2 is expected to take place on or about 16 May 2024. The Offer Shares will be settled through a delivery versus payment transaction with existing and unencumbered shares in the Company that are already traded on Euronext Growth Oslo pursuant to a share lending arrangement between the Company, the Managers (defined below), and Scatec Innovation AS as the lender.

The Offer Shares allocated to applicants in Tranche 2 will be tradable subject to the resolution by the board of directors to issue the Offer Shares in Tranche 2. The Offer Shares cannot be traded before the resolution by the board of directors has been made.

Carnegie AS is acting as sole global coordinator and joint bookrunner and Arctic Securities AS is acting as joint bookrunner (together, the "Managers") in connection with the Private Placement. Advokatfirmaet Selmer AS is acting as legal advisor to Norsk Titanium, while Advokatfirmaet Wiersholm AS is acting as legal advisor to the Managers.

For further information, please contact:

Anne Lene Gullen Bråten, Director Finance and Company Secretary

anne.lene.braten@norsktitanium.com

+47 995 45 340

For the latest news, go to www.norsktitanium.com or follow us on LinkedIn.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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