NEXT Biometrics Group ASA – Announcement of a contemplated rights issue

11 Mar 2026 08:16 CET

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DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES
NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 11 March 2026: Reference is made to the stock exchange announcement
published earlier today, whereby NEXT Biometrics Group ASA (OSE: NEXT) ("NEXT"
or the "Company") published its Q4 2025 report.

The Company will carry out a partially underwritten rights issue of new shares
with preferential subscription rights (the "Subscription Rights") for the
Company's existing shareholders to raise gross proceeds of up to NOK 50 million
(the "Rights Issue"). NOK 41 million of the total subscription amount in the
Rights Issue is contemplated to be underwritten by a consortium of underwriters
comprising of certain existing shareholders in the Company and external
investors (the "Underwriters"). The Company will pay a underwriting commission
to the Underwriters.

The subscription price in the Rights Issue is expected to be NOK 0.10 per new
share, however such that the subscription price shall be adjusted following a
planned reverse share split (the "Reverse Share Split"). It is also contemplated
that the nominal value of the Company's shares will be reduced following the
Reverse Share Split (the "Share Capital Reduction"). The Reverse Share Split and
the Share Capital Reduction are expected to be resolved by the extraordinary
general meeting to be held on or about 7 April 2026 (the "EGM").

The net proceeds from the Rights Issue will be used for repayment of the Bridge
Loans (as defined below), and is expected to finance the Company's business plan
into 2027.

Further, and in connection with the Rights Issue, the Company is contemplating
to raise bridge loans of a total amount of up to NOK 25 million to cover
immediate short-term liquidity needs, primarily related to working capital needs
for recently received orders (the sensors need to be produced) (the "Bridge
Loans"). The Bridge Loans is expected to be repaid with proceeds from the Rights
Issue.

In addition, it is contemplated that the outstanding amount under the
shareholder loan agreement entered into with certain lenders on 20 January 2026
in the principal amount of NOK 9 million (the "Shareholder Loan"), will be set
off through the issuance of new shares in the Company to the lenders under the
Shareholder Loan at a conversion price equal to the Subscription Price in the
Rights Issue, upon completion of the Rights Issue.

Arctic Securities AS is engaged as manager (the "Manager") for the Rights Issue.

Further information about the Reverse Share Split, the Share Capital Reduction
and the Rights Issue will be made available in a separate stock exchange
announcement in due course.

This information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act. This stock
exchange announcement was published by Eirik Underthun, CFO at NEXT Biometrics
Group ASA, on 11 March 2026, at 08:16 hours (CET).

For further information, please contact:
Ulf Ritsvall, CEO
Email: ulf.ritsvall@nextbiometrics.com
Eirik Underthun, CFO
Email: eirik.underthun@nextbiometrics.com

About NEXT Biometrics
NEXT Biometrics is a pioneer of high-security biometric authentication, enabling
users to live simpler, safer lives.

NEXT Biometrics was founded on the belief that strong authentication and
identification can be secure, seamless and cost effective for governments and
businesses with Active Thermal® technology. More than 25 years later, NEXT has
retained its Norwegian heritage and grown to serve customers globally. Today,
our solutions are used by billions of users each year across 10+ national ID and
local programs, 150.000+ POS terminals, 25+ laptop and tablet models from tier-1
OEMs, and physical and logical access control implementations. Through
state-of-the-art technology, deep industry expertise and close collaboration
with partners for seamless integration, Active Thermal® biometrics can make life
simpler and safer for everyone. For more information, visit NEXT Biometrics,
read our blog and follow us on LinkedIn. NEXT Biometrics is listed on Euronext
(NEXT.OL).

Important notice:
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 of the Company. 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.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended (together with any
applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net
worth entities falling within Article 49(2)(a) to (d) of the Order; or (iii) are
other persons to whom it otherwise lawfully be communicated (all such persons
together being referred to as "Relevant Persons"). Any person who is not a
Relevant Person must not act or rely on this Investor Presentation or any of its
contents. Any investment or investment activity to which this communication
relates is available only for Relevant Persons and will be engaged in only with
Relevant Persons. Persons distributing this communication must satisfy
themselves that it is lawful to do so.

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 the Company believe 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 their 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 Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any 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 the Company.

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 restrictions.

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