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Norsk Titanium AS Share Capital Increase in Relation to Tranche 2 of the Private Placement is Registered

Oslo, Norway, 24 May 2024: Reference is made to the stock exchange announcement by Norsk Titanium AS (the "Company") on 29 April 2024 regarding the completion of a private placement of a total of 110,000,000 new shares (the "Offer Shares") raising gross proceeds of NOK 275 million, equivalent to approx. USD 25 million (the "Private Placement").

As projected in the stock exchange announcement on 15 May 2024, the Company's board of directors has resolved to increase the share capital in relation to the second and final tranche of the Private Placement, consisting of 56,296,370 Offer Shares out of the total of 110,000,000 Offer Shares in the Private Placement ("Tranche 2").

The share capital increase pertaining to Tranche 2 is now registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 50,129,200.16 divided into 626,615,002 shares. Each share has a nominal value of NOK 0.08 and represents one vote in the Company's general meeting.

For more information, please contact:

Ashar Ashary, CFO Norsk Titanium AS

Email: Ashar.Ashary@norsktitanium.com

Tel: +1 518 556 8966

For information about the Private Placement, 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.

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

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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