Norsk Titanium AS: Primary insider trading

Oslo, Norway, 1 April 2022: In connection with a planned liquidation of Scatec Invest AS (“Scatec Invest”), Scatec Invest has transferred 555,945 shares in Norsk Titanium AS (“Norsk Titanium”) to its shareholders, including Scatec Innovation AS ("Scatec Innovation"), which holds one share in Scatec Invest. In addition to Scatec Innovation, shareholders of Scatec Invest include existing and former employees of Scatec Innovation. Scatec Innovation has received one share in Norsk Titanium. Scatec Invest is controlled by Scatec Innovation according to a shareholder agreement between all shareholders in Scatec Invest. Scatec Innovation will neither increase nor decrease its relative ownership to shares in Norsk Titanium as a result of the liquidation of Scatec Invest. Scatec Innovation and Scatec Invest are legal persons associated with John Andersen, who is the chairman of the board of Norsk Titanium. Notifications of the transactions by close associates of primary insiders in accordance with the Market Abuse Regulation Article 19 are attached. For more information, please contact: John Andersen, Chairman of Norsk Titanium Email: John.Andersen@scatec.no Tel: +47 90 17 40 80 Sven Røst, VP Communication of Scatec Innovation Email: sven.rost@scatec.no Tel: +47 93 25 31 96 Linda Helland, General Counsel of Scatec Innovation Email: linda.helland@scatec.no Tel: +47 97 77 20 02 This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation article 19 and section 5-12 of the Norwegian Securities Trading Act.