Norsk Titanium AS: Hired Seaport Global Securities to raise additional capital

13 Apr 2023 17:00 CEST

Oslo, 13 April 2023: Norsk Titanium has hired Seaport Global Securities in New
York to raise additional equity and/or debt capital in International markets to
support its long-term growth strategy towards its USD 150 million revenue target
in 2026.

Reference is made to a stock exchange announcement of 30 March 2023, regarding
the completion of a private placement of new shares in the company. Norsk
Titanium raised approximately NOK 89 million, equivalent to USD 8.5 million, in
gross proceeds in the private placement, through the allocation of 29,517,950
new shares at a subscription price of NOK 3.00 per share.

As noted in the stock exchange announcement upon completion of the private
placement, the runway needs to be extended further and the company stated that
it would continue to evaluate either additional investment or other
opportunities that make strategic sense and secures necessary funding for
continued operation. Norsk Titanium’s current burn-rate is approximately USD 2.0
million per month, and the company expects to break-even by the end of 2025.

Please also refers to stock exchange notices of 30 March regarding a potential
repair offering of up to 2 million shares at NOK 3 per share, of 6 April
regarding registration of the share capital increase, and of 11 April regarding
the EGM approval enabling completion of the private placement, authorization of
a share capital increase related to a repair offering, and an authorization to
the Board to increase the share capital by up to 20%.

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

For more information, please contact:
Mike Canario, President and CEO of Norsk Titanium
Email: Michael.Canario@norsktitanium.com Tel: +1 518 324 4010

Ashar Ashary, Chief Financial Officer Norsk Titanium AS
Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966

About Norsk Titanium:
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.

About Seaport Global
Seaport Global Holdings LLC is a leading capital markets firm, providing robust
sales, trading and research services and the resources of a full-service
investment bank. Seaport Global combines its extensive knowledge, solid
relationships and deep distribution platform to serve its clients’ most unique
business requirements. The firm is headquartered in New York with offices across
the US and Europe. Visit www.seaportglobal.com to learn more.

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