ZWIPE AS FILES FOR BANKRUPTCY

17 Feb 2025 15:05 CET

Oslo, Norway - 17 February 2025

The Board of Directors of Zwipe AS has today decided to file for bankruptcy with
the Oslo district court, "Tingsretten". This decision follows a thorough review
of the company's financial situation and the determination that the company is
no longer able to meet its obligations towards its creditors.

Despite extensive efforts to restructure operations and secure continued
business activities, it has not been possible to achieve a financially
sustainable solution. Further, as communicated on 14 February, the discussions
held with third parties that were intended to secure continued operation have
been unsuccessful. The Board therefore sees no alternative but to file for
bankruptcy.

"It is with great regret that we are forced to make this decision today. We have
done everything in our power to find alternative solutions to secure continued
operations, but we have not succeeded. Our focus is now to ensure an orderly
process for all affected parties," says Jörgen Lantto, chairman of Zwipe AS.

A bankruptcy trustee will be appointed by the district court and will be
responsible for managing the further process, including handling the company's
assets and obligations.

This stock exchange release was published by Hugo Petit, CFO, on 17 February
2025 at 15.05 CET.

For further information contact:

Robert Puskaric, CEO of Zwipe E-mail: ir@zwipe.com

This information is subject to the disclosure requirements in article 17 of the
Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the
Norwegian Securities Trading Act.Certified Adviser on Nasdaq First North is FNCA
Sweden AB, info@fnca.se.

About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.

To learn more, visit:

http://www.zwipe.com

More information:
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638966_Zwipe_Files_for_bankruptcy.pdf