Norsk Titanium AS – New Share Capital Increase Registered

Oslo, Norway, 25 January 2024: Reference is made to the stock exchange notice by Norsk Titanium AS ("Norsk Titanium" or "Company") published on 17 January 2024 regarding a share capital increase in connection with exercise of restricted share units according to the Company's long term incentive program.

The issuance of 653,238 new shares has been registered with the Norwegian Register of Business Enterprises. Following registration, the share capital of Norsk Titanium is NOK 21,653,711.36 divided into 270,671,392 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

Carl Johnson, President and CEO of Norsk Titanium

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

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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