Appear ASA Allocations to primary insiders

04 Nov 2025 22:00 CET

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA, SWITZERLAND, JAPAN OR ANY OTHER JURISDICTION IN
WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE
APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

Oslo, 4 November 2025: Reference is made to the stock exchange notices by
Appear ASA ("Appear" or the "Company") on 28 October 2025, regarding the
commencement of the bookbuilding and application period in the initial public
offering (the "Offering") of shares in the Company (the "Offer Shares") and
applications by primary insiders and close associates in the Offering, and the
announcement regarding the successful completion of the bookbuilding of the
Offering on 4 November 2025.

The following primary insiders of the Company (or investment vehicles
controlled by them) have today, on 4 November 2025, been allocated Offer
Shares in the Offering in accordance with the terms and conditions set out in
the prospectus dated 27 October 2025:


* Terje Rogne, chairman of the Board of Directors of the Company, has been
allocated 90,225 Offer Shares for a total amount of approximately NOK 6
million through his wholly owned company, Admaniha AS. Upon delivery of the
allocated Offer Shares, Admaniha AS will pledge its allocated 90,225 Offer
Shares as security under a loan agreement for the purpose of funding the
acquisition of said Offer Shares.
* Brita Eilertsen, member of the Board of Directors of the Company, has been
allocated 7,518 Offer Shares for a total amount of approximately NOK
500,000.
* Kenneth Ragnvaldsen, member of the Board of Directors of the Company, has
been allocated 60,150 Offer Shares for a total amount of approximately NOK 4
million through his wholly owned company, Ragnbang Invest AS.
* Anette Willumsen, member of the Board of Directors of the Company, has been
allocated 15,037 Offer Shares for a total amount of approximately NOK 1
million through her affiliated company Willvest AS.
* Daniella Grønne, Chief Operating Officer of the Company, has been allocated
6,015 Offer Shares for a total amount of approximately NOK 400,000.

Members of the Company's management and Board of Directors have received
preferred allocation for applications up to NOK 4 million each in the
Offering, and the chairman of the Board of Directors has received preferred
allocation for applications up to NOK 6 million.

In connection with the Offering, lock-up undertakings have been entered into
between the Managers and the above primary insiders for a period of 12 months.
The Managers have, in advance, consented to a waiver from the lock-up
undertaking for Terje Rogne, Chairman, in connection with a pledging of Offer
Shares allocated to Rogne, as described above.

Further as set out in the Prospectus, the following primary insiders of the
Company (or investment vehicles controlled by them) have agreed to sell Offer
Shares in the Offering:


* Arne Græe, member of the Board of Directors of the Company, has sold
5,191,750 Offer Shares for a total amount of approximately NOK 345.3 million
through his wholly owned company, Accelerator Ltd.
* Thomas Bostrøm Jørgensen, Chief Executive Officer of the Company, has sold
326,456 Offer Shares for a total amount of approximately NOK 21.7 million
through his wholly owned company, Phika Ventures AS.
* Thomas Steenhoff Lind, Chief Product Officer of the Company, has sold
approximately 494,500 Offer Shares for a total amount of approximately NOK
32.9 million.

Please see attached primary insider notification forms for the above-mentioned
transactions.

Advisors

ABG Sundal Collier ASA and DNB Carnegie AS, a part of DNB Bank ASA are acting
as Joint Global Coordinators and Joint Bookrunners in the IPO (jointly, the
"Managers").

Advokatfirmaet CLP DA is acting as legal advisor to the Company, and
Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers.

For further information, please contact:

Media contact:
Geir Bjørlo, Corporate Communications AS
+47 915 40 000 | geir.bjorlo@corpcom.no

About Appear ASA
Headquartered in Oslo, Norway, Appear designs and delivers high-capacity,
sustainable solutions for media processing and live content delivery. The
Company's technology enables the capture, transport, and processing of live
video from sports stadiums, concert arenas, and other venues to the viewers
within milliseconds, ensuring superior video quality and reliability. Appear
serves broadcasters, production companies, content owners and network
operators worldwide who rely on its live production technology to deliver the
world's most demanding live productions.

This information is subject to the disclosure requirements in article 19 of
Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of
the Norwegian Securities Trading Act.

IMPORTANT INFORMATION

United States
These materials may not be published, distributed or transmitted in the United
States, Canada, Australia, the Hong Kong Special Administrative Region of the
People's Republic of China, Switzerland, South Africa or Japan. These
materials do not constitute an offer of securities for sale or a solicitation
of an offer to purchase securities (the "Shares") of Appear ASA (the
"Company") in the United States, Norway or any other jurisdiction. The Shares
of the Company may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act
of 1933, as amended (the "Securities Act"). The Shares of the Company have not
been, and will not be, registered under the Securities Act. Any sale in the
United States of the securities mentioned in this communication will be made
solely to "qualified institutional buyers" as defined in Rule 144A under the
Securities Act.

European Economic Area
Any offering of securities will be made by means of a prospectus to be
published that may be obtained from the Company or selling security holder,
once published, and that will contain detailed information about the Company
and its management, as well as financial statements.

These materials are an advertisement and not a prospectus for the purposes of
Regulation (EU) 2017/1129, as amended (together with any applicable
implementing measures in any Member State, the "Prospectus Regulation").
Investors should not subscribe for any securities referred to in these
materials except on the basis of information contained in the prospectus.

In any EEA Member State other than Norway and Sweden (from the time the
prospectus has been approved by the Financial Supervisory Authority of Norway,
in its capacity as the competent authority in Norway, and published in
accordance with the Prospectus Regulation as implemented in Norway and
passported into Sweden pursuant to the Prospectus Regulation) that has
implemented the Prospectus Regulation, this communication is only addressed to
and is only directed at "qualified investors" in that Member State within the
meaning of Article (e) of the Prospectus Regulation ("Qualified Investors"),
i.e., only to investors to whom an offer of securities may be made without the
requirement for the Company to publish a prospectus pursuant to Article 3 of
the Prospectus Regulation in such EEA Member State.

United Kingdom
In the United Kingdom, these materials are only being distributed to and are
only directed at Qualified Investors who (i) are investment professionals
falling within Article 19 (5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are
persons falling within Article 49 (2)(a) to (d) of the Order (high net worth
companies, unincorporated associations, etc.) (all such persons together being
referred to as "Relevant Persons"). These materials are directed only at
Relevant Persons and must not be acted on or relied on by persons who are not
Relevant Persons. Any investment or investment activity to which this document
relates is available only to Relevant Persons and will be engaged in only with
Relevant Persons.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its
control. Such risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the expectations expressed
or implied in this release by such forward-looking statements. The
information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice.

This announcement is made by, and is the responsibility of, the Company. The
Managers are acting exclusively for the Company and no one else and will not
be responsible to anyone other than the Company for providing the protections
afforded to their respective clients, or for advice in relation to the
contents of this announcement or any of the matters referred to herein.

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and
none of them accepts any responsibility for the contents of this announcement
or any matters referred to herein.

This announcement is for information purposes only and is not to be relied
upon in substitution for the exercise of independent judgment. It is not
intended as investment advice and under no circumstances is it to be used or
considered as an offer to sell, or a solicitation of an offer to buy any
securities or a recommendation to buy or sell any securities of the Company.
Neither the Managers nor any of their respective affiliates accepts any
liability arising from the use of this announcement.

Each of the Company, the Managers and their respective affiliates expressly
disclaims any obligation or undertaking to update, review or revise any
statement contained in this announcement whether as a result of new
information, future developments or otherwise.

The distribution of this announcement and other information may be restricted
by law in certain jurisdictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restriction

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-11-04 22:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

658724_Notification Form Accelerator Ltd.pdf
658724_Notification Form Phika Ventures AS.pdf
658724_Notification Form Willvest AS.pdf
658724_Notification Form Ragnbagn Invest AS.pdf
658724_Notification Form Thomas Steenhoff Lind.pdf
658724_Notification Form Brita Eilertsen.pdf
658724_Notification Form Admaniha AS.pdf
658724_Notification Form Daniella Grønne.pdf