Norsk Titanium AS: Primary insider trading

Oslo, Norway, 5 October 2022: In connection with the listing of Norsk Titanium AS (the "Company") on Euronext Growth Oslo, Shan Ashary entered into a share lending agreement with NTi Holding AS ("NTi Holding") whereby his 217,700 shares in the Company have been held on a separate Euronext VPS account in the name of NTi Holding AS. The shares have now been redelivered upon the sole discretion and instruction by Shan Ashary. NTi Holding is not the beneficial owner of the shares and the transfer of shares does not represent a sale of shares by NTi Holding. NTi Holding will consequently neither increase nor decrease its ownership to shares in Norsk Titanium as a result of the redelivery. NTi Holding is a legal person closely associated with John Andersen, who is the chairman of the board of Norsk Titanium. Attached are the notification of the transaction in accordance with the Market Abuse Regulation Article 19. For more information, please contact: John Andersen, Chairman of Norsk Titanium Email: John.Andersen@scatec.no Tel: +47 90 17 40 80 Mike Canario, President and CEO of Norsk Titanium Email: Michael.Canario@norsktitanium.com Tel: +1 518 324 4010 Ashar Ashary, VP Finance Norsk Titanium AS Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966 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.