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Norsk Titanium Awarded Initial Defense Market Production Contract

Plattsburgh New York, July 23, 2024 — Norsk Titanium (Euronext: NTI, OTCQX: NORSF), a global leader in additive manufacturing for aerospace-grade structural titanium components using its patented Rapid Plasma Deposition® (RPD®) technology, today announces a production order for an undisclosed prime contractor for the United States Department of Defense.

"This is another key milestone in Norsk Titanium’s growth strategy,” said Nicholas Mayer, Norsk Titanium Vice President Commercial. “Our revenue plans for 2024 and the years to come are dependent on us penetrating the defense market as well as the commercial aerospace market. This effort secures initial serial production revenue and we expect to see increasing sales as our customer is awarded production contracts from the United States Department of Defense.”

The contract award builds on years of development and qualification effort with multiple United States Department of Defense prime contractors. Norsk Titanium has development projects ongoing with multiple defense contractors for recurring production parts, as well as with multiple commercial aerospace customers, and expect to see more parts transition into serial production later in the year.

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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