Ensurge Micropower ASA: Launch of a Private Placement

09 Feb 2023 18:30 CET

Oslo, 9 February 2023

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Ensurge Micropower ASA ("Ensurge" or the "Company") today announces that the
Board intends to undertake a private placement of shares in the Company raising
between NOK 40 - 60 million (the "Private Placement"). The intended Private
Placement would be at a subscription price per share set through an accelerated
book building process, and will be subject to approval by an Extraordinary
General Meeting in the Company to be called and held on or about 8 March 2023
("EGM"). As the intended subscription price likely would be below the current
par value of the Company's share, which is NOK 0.99, the Private Placement would
also be conditional upon the EGM approving a share capital reduction by
reduction of the par value per share so that such par value, prior to the
resolution by the EGM on the Private Placement, is equal to or lower than the
subscription price in the Private Placement. The subscription price will be set
by accelerated book building and be based on an overall assessment of the
current trading price of the Company's share on Oslo Børs and the availability
of other funding alternatives within the relevant timeframe.

Existing shareholders and/or new investors who are interested in participating
in the Private Placement can submit a Notification of Interest to the Company.
Such Notification of Interest should be sent by e-mail to the following e-mail
addresses: Ensurge Micropower ASA, c/o Advokatfirmaet Ræder AS, attn.: Carl
Garmann Clausen, cgc@raeder.no (mailto:cgc@raeder.no), with a copy to Morten
Opstad, Chair of the Board of the Company, mop@raeder.no (mailto:mop@raeder.no).
The Company hereby requests that such Notification of Interest is submitted to
the Company by no later than

Tuesday 14 February 2023 at 16:30 hrs. CET.

The Notification of Interest should, at the very least, include name, address,
telephone, and e-mail address of the interested party, and can also include
proposed subscription amount and price. The Company will contact the persons and
entities, which have submitted a Notification of Interest.

Reference is made to the announcement by the Company on 6 February 2023 about
organizational changes and including a commercial update. Please also see the
attached presentation from the new interim CEO Mark Newman. The Company intends
to use the net proceeds from the Private Placement for general corporate
purposes in furtherance of the plans outlined in the announcement made on 6
February 2023.

The Board has  considered the proposed Private Placement in light of the equal
treatment obligations under the Norwegian Public Limited Companies Act and the
rules on equal treatment under Oslo Rule Book II for companies listed on Oslo
Børs and Oslo Børs' Guidelines on the rule of equal treatment, and the Board is
of the opinion that the deviation from the preferential rights of the existing
shareholders in respect of the Private Placement, taking into consideration the
Company's imminent funding needs, the time, costs and risk of alternative
methods of securing the desired funding, as well as the fact that the proposed
subscription price will be established by a book building process, is in the
common interest of the Company and its shareholders and in
compliance  with  these obligations and guidelines.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading
Act. This stock exchange release was published by Ståle Bjørnstad, VP, Corporate
Development and IR, on 9 February 2023 at 18:30 CET.

For further information, please contact: Ståle Bjørnstad - Investor Relations,
e-mail: stale.bjornstad@ensurge.com (mailto:stale.bjornstad@ensurge.com), phone:
+47 99 16 76 72.

About Ensurge:
Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible,
reliable, and fundamentally safe solid-state lithium micro battery for the
1-100 milliampere-hour (mAh) class of wearable devices, connected sensors, and
beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable
products that are ideal for form-factor-constrained applications including
hearables (hearing aids and wireless headphones), digital and health wearables,
sports and fitness devices, and IoT sensor solutions that use energy harvesting
to power everyday things. The company's state-of-the-art manufacturing facility,
located in the heart of Silicon Valley, combines patented process technology and
materials innovation with the scale of roll-to- roll production methods to bring
the advantages of Ensurge technology to established and expanding markets.

More information:
Access the news on Oslo Bors NewsWeb site

581926_Ensurge Presentation from new CEO 2023 Feb 9 FINAL.pdf