KANGAROO BIDCO ANNOUNCES COMPULSORY ACQUISITION OF SHARES IN KAHOOT! ASA

15 Jan 2024 17:13 CET

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Oslo, 15 January 2024

Reference is made to the stock exchange announcement made on 5 January 2024
regarding the final results of the mandatory offer (the "Offer") made by
Kangaroo BidCo AS ("Kangaroo BidCo" or the "Offeror") to acquire all outstanding
shares ("Shares") in Kahoot! ASA ("Kahoot!" or the "Company") not already owned
by the Offeror. Reference is further made to the announcement of completion of
the Offer on 11 December 2023. Following completion of the Offer, Kangaroo BidCo
held a total of 466,983,548 Shares in Kahoot!, representing to approximately
94.75% of the share capital and voting rights in the Company.

The board of directors of Kangaroo BidCo has resolved, effective from after
close of trading on the Oslo Stock Exchange today 15 January 2024, to carry out
a compulsory acquisition of all remaining Shares in Kahoot! not owned by
Kangaroo BidCo, pursuant to section 6-22 of the Norwegian Securities Trading
Act, cf. section 4-25 of the Norwegian Public Limited Liability Companies Act.

As a consequence, Kangaroo BidCo has assumed ownership to the Shares in Kahoot!
that are subject to the compulsory acquisition, and the Offeror will from the
date hereof be owner of 100% of the Shares in the Company.

The offered compulsory acquisition offer price will be NOK 35 per Share, which
corresponds to the offer price in the Offer, and according to section 6-22 of
the Norwegian Securities Trading Act, is the applicable compulsory acquisition
offer price in a subsequent compulsory acquisition.

Settlement of the compulsory acquisition offer price will take place on or about
19 January 2024. A notice regarding compulsory acquisition will be sent to all
former shareholders subject to the compulsory acquisition whose addresses are
known. In addition, the compulsory acquisition will be announced through the
electronic notice service of the Norwegian Register of Business Enterprises.

Any objections to, or rejection of, the offered compulsory acquisition offer
price must be made at the latest by 23:59 (Norwegian time) on 18 March 2024.
Former shareholders of Kahoot! who do not object to, or reject, the offered
compulsory acquisition offer price within this deadline will be deemed to have
accepted the compulsory acquisition offer price.

Following the compulsory acquisition, Kangaroo BidCo will pursue a delisting of
Kahoot!'s Shares from the Oslo Stock Exchange.

For more information, please contact:

Media relations
Goldman Sachs
Joseph Stein, Corporate Communications
Phone: +44 207 774 4080

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