Ensurge Micropower ASA - Cancellation of Subsequent Offering

27 Jun 2024 22:49 CEST

Oslo, 27 June 2024

Reference is made to the stock exchange notice published by Ensurge Micropower
ASA (the "Company") on 13 May 2024 regarding the completion of a private
placement raising gross proceeds of approximately NOK 85 million (the "Private
Placement") and a potential subsequent offering on the same terms and conditions
as in the Private Placement directed towards eligible shareholders (the
"Subsequent Offering").

The board of directors of the Company has decided not to proceed with the
Subsequent Offering.

The background for the cancellation is that the Company's shares have traded
below the subscription price in the Private Placement for a substantial period
and at sufficient volumes. Shareholders wishing to reduce the dilutive effect of
the Private Placement have therefore had the opportunity to purchase shares in
the market at prices below the price which would have been the subscription
price in the Subsequent Offering.

Further to this, the Board withdraws the proposed resolution for a subsequent
offering at the Extraordinary General Meeting scheduled for 1 July 2024 at
09.00 am CET and the notice of such general meeting is amended accordingly. The
Extraordinary General Meeting will be held as scheduled to consider the other
agenda items.

About Ensurge Micropower:

Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible,
reliable, and fundamentally safe solid-state lithium microbattery for the 1 to
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.

For more information, please contact:

Lars Eikeland, Chief Executive Officer E-mail: lars.eikeland@ensurge.com
(mailto:lars.eikeland@ensurge.com)

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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