IDEX Biometrics secures NOK 90 million in private placement and exclusive technology partnership with Leading APAC Biometric ID Solutions Provider

05 Mar 2026 21:43 CET

The partnership includes an initial investment as well as initial purchase
order valued at USD 1.75 million, exclusive technology agreement, and a
performance-linked option for up to 5% of IDEX share capital

TRANSACTION HIGHLIGHTS

* ID Centric to subscribe for shares representing approx. 20 % of the
outstanding shares in IDEX Biometrics ASA post-investment for approx. NOK 90
million via a directed private placement, at an agreed subscription price of
NOK 5.83
* ID Centric committing to exclusive use of IDEX sensors and technology across
its biometric ID card offering
* Initial purchase order valued at USD 1.75 million placed at signing, with
deliveries commencing April 2026
* ID Centric is actively engaged in securing national ID and biometric
identity programs across several Asia-Pacific markets
* ID Centric to be appointed as authorized reseller of IDEX Access Cards and
Payment Cards across its markets
* Option being granted to ID Centric to subscribe for newly issued shares
representing additional 5 % of IDEX share capital upon on sensor purchases
exceeding 10 million units by 31 December 2027
* Comprehensive cooperation across technology development, product strategy,
and go-to-market execution

OSLO, NORWAY --- PRIVATE PLACEMENT AND EXCLUSIVE PARTNERSHIP
IDEX Biometrics today announces a private placement as well as a signed Term
Sheet for partnership agreement with ID Centric, a leading provider of
biometric identity solutions with secured national ID contracts across several
markets in the Asia-Pacific region. First binding purchase order of USD 1.75
million submitted at signing of Term Sheet 5 March 2026.

As part of the Term Sheet, ID Centric has made a firm commitment to invest
approximately NOK 90 million in IDEX through a private placement, acquiring a
20 % equity stake in the company. The subscription price has been negotiated
based on a 30-day volume weighted average price (VWAP) of the IDEX share on
the Oslo Stock Exchange as of 2 March 2026. In connection with the investment,
ID Centric simultaneously places an initial binding purchase order for IDEX
biometric sensors valued at USD 1.75 million, with deliveries scheduled to
commence in April 2026.

Strategic Rationale
The partnership marks a significant expansion of IDEX's addressable market
into national and government-issued biometric identity cards --- a large and
fast-growing segment driven by regulatory requirements across emerging and
developed markets globally. ID Centric brings established relationships with
government issuers and deep regional expertise across the APAC region,
complementing IDEX's world-leading biometric sensor technology and card
integration capabilities.

Under the terms of the agreement, ID Centric will exclusively deploy IDEX
sensors and biometric technology across its product offerings. The companies
will cooperate closely on technology roadmap, product development, and joint
go-to-market activities to accelerate commercial deployment at scale. IDEX
retains the right to supply its technology to other partners and different
verticals globally.

IDEX has agreed with the Convertible Bond holders, a fund managed by Heights
Capital Management, to redeem the outstanding NOK 28.3M at 20% premium,
subject to the private placement with ID Centric being completed.

Purchase Order and Commercial Scale
The initial binding purchase order of USD 1.75 million represents the first
tranche of what is anticipated to be a significant and sustained volume
relationship. ID Centric is in the process of securing contracts to deliver
several million biometric ID cards in its markets, providing IDEX with a
compelling near-term revenue ramp and improved long-term volume visibility in
a new product category.

ID Centric will additionally act as an authorized channel partner and reseller
for IDEX Access Cards and Payment Cards across its markets, extending the
commercial scope of the relationship beyond national ID.

The Term Sheet will without undue delay be negotiated further and transformed
into definitive agreements regulating the partnership and purchase and
delivery of sensors in further detail.

Performance-Linked Option
As part of the partnership, IDEX grants ID Centric an option to acquire new
shares representing an additional 5 % of IDEX's share capital at NOK 5.83 per
share, and exercisable upon ID Centric sensor purchases exceeding 10 million
sensors by 31 December 2027. The option aligns the long-term interests of both
companies and creates a strong incentive for accelerated commercial execution.
Terms and conditions of the option, including exercise price, will be
disclosed in accordance with applicable regulatory requirements.

Capital and Governance
The NOK 90 million investment will be applied to support IDEX's
commercialization activities, product development, and working capital
requirements as the company scales its operations to meet growing demand. The
first tranche of the investment (5%) is resolved issued by IDEX's board of
directors on 5 March 2026 under the company's existing share issue
authorization and the second tranche (15%) will be closed after and subject to
approval by the IDEX shareholders' meeting. The subscription price in both
tranches is agreed at NOK 5.83 per share, negotiated based on the 30-day VWAP
of the IDEX share prior to 2 March 2026.

In the first tranche of the investment, the board of directors resolved to
increase the share capital with NOK 3,824,233 by issuance of 3,824,233 new
shares. Following registration of the share capital increases pertaining to
the first tranche, IDEX' share capital will be NOK 68,836,196 divided into
68,836,196 shares, each with a nominal value of NOK 1 and each carrying one
vote at the company's general meeting.

An extraordinary general meeting (EGM) will be held on or about 27 March 2026
to seek the necessary approval for the second tranche, among other things, and
the invitation will be published in a separate notice in accordance with Oslo
Stock Exchange requirements.

ID Centric will nominate a representative to the Board of Directors of IDEX
Biometrics.

STATEMENT FROM ID CENTRIC
"We are very impressed with IDEX technology, which we believe is the best in
the world, and with the IDEX team, with whom we have developed a very strong
working relationship. We believe that together we will commercialize biometric
ID cards at scale, delivering solutions that set a new global standard for
secure and convenient identity verification".
Michael Gardiner, Chief Executive Officer, ID Centric

STATEMENT FROM IDEX BIOMETRICS
"This is an important milestone for IDEX. The NOK 90 million private placement
allows us to redeem the convertible bond, while this partnership brings both
capital and commercial volume --- exactly what we need to accelerate
deployment. In today's era of accelerating AI-driven threats, companies
struggle to find solutions that are fit for purpose and compliant with
evolving regulatory requirements. This is a global challenge, and IDEX is
solving it. With a recapitalised balance sheet and this partnership in place,
IDEX is now positioned to execute our business plan faster." Anders
Storbråten, Chief Executive Officer, IDEX Biometrics ASA

ABOUT ID CENTRIC
ID Centric Group Pte Ltd is a developer, manufacturer, and supplier of highly
advanced electronic identity solutions to governments and commercial
organizations.

The company's primary technology is based on multifunction biometric
smartcards that offer secure storage of personal credentials and sensitive
data, and function as a trusted single source of identity across all public
and private sector applications.

Headquartered in Singapore, ID Centric are partnered with several of the
world's leading security and identity management organizations. Working with
powerful local market stakeholders, to deliver trusted physical and digital
identity solutions to governments and their citizens throughout Asia Pacific
and other regional markets.

https://idcentricgroup.com/

ABOUT IDEX BIOMETRICS ASA
IDEX Biometrics ASA is a leading provider of fingerprint identification
technologies, offering a full suite of biometric solutions for payment cards,
access cards, and national identity documents. The company's technology
enables secure, contactless biometric authentication directly on the card ---
without a network connection or external reader infrastructure. IDEX is listed
on the Oslo Stock Exchange under the ticker IDEX.

https://idexbiometrics.com/

CONTACTS
Anders Storbråten, CEO and CFO, Mobile: +47 416 38 582
IDEX Biometrics ASA | ir@idexbiometrics.com | www.idexbiometrics.com

Important Information

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Anders Storbråten, CEO and CFO of IDEX
Biometrics ASA on 5 March 2026 at the time of this announcement.

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities. The distribution of this
announcement and other information may be restricted by law in certain
jurisdictions. Copies of this announcement are not being made and may not be
distributed or sent into any jurisdiction in which such distribution would be
unlawful or would require registration or other measures. Persons into whose
possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

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 "believe", "expect",
"anticipate", "strategy", "intends", "estimate", "will", "may", "continue",
"should" 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 IDEX 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.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without
notice. IDEX undertakes no obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of
this announcement.

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 IDEX.

Neither IDEX nor its advisors accept any liability arising from the use of
this announcement. This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act.

More information:
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