Norsk Titanium AS: Extraordinary General Meeting Held

Oslo, Norway, 9 January 2024: Reference is made to the stock exchange announcements published by Norsk Titanium AS (the "Company") on 14 December 2023 and 8 January 2024 regarding a proposed partially underwritten rights issue of shares with preferential rights for existing shareholders in the Company (the "Rights Issue")

The extraordinary general meeting of the Company has today, on 9 January 2024, approved all items as proposed by the Board of Directors including the Rights Issue and the issuance of warrants. The minutes from the annual general meeting are enclosed hereto and will also be available on the Company's website (www.norsktitanium.com), in the Investors section.

The full terms and conditions for the Rights Issue will be included in a prospectus, which will be published prior to the commencement of the subscription period for the Rights Issue. The subscription period is expected to take place from 6 February 2024 09:00 hours (CET) to 20 February 2024 at 16:30 (CET).

Carnegie AS is acting as manager for the Rights Issue. Advokatfirmaet Selmer AS is acting as legal counsel to the Company, while Advokatfirmaet Wiersholm AS is acting as legal advisor to the Manager.

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