Kahoot! ASA: Exercise of employee share options, share capital increase and share transactions by primary insiders

Oslo, 11 November 2022. Following the vesting and exercise of 3,583,225 employee share options, the Board of Directors of Kahoot! ASA (“Kahoot!” or the “Company”) has today resolved to issue 3,583,225 new shares pursuant to an authorization granted by the Company’s general meeting on 27 May 2022. A total of 1,583,090 of the new shares have been sold at a price of NOK 21 per share in a transaction arranged by ABG Sundal Collier ASA, while exercising option holders will retain the remaining 2,000,135 new shares. The exercised options have been granted in the period from 2017, and the strike price and accordingly the issue price for the new shares varies from NOK 1.67 to NOK 16.67, so that: - 3,172,645 shares are issued at NOK 1.67 - 44,375 shares are issued at NOK 3.33 - 260,255 shares are issued at NOK 6.67 - 14,950 shares are issued at NOK 8.33 - 9,000 shares are issued at NOK 10.00 - 7,000 shares are issued at NOK 16.00 - 75,000 shares are issued at NOK 16.67 Primary insiders in the Company have exercised share options with transactions as follows: - Eilert Hanoa, CEO in the Company, has acquired 75,000 shares by the exercise of 75,000 vested options at a strike price of NOK 16.67 per share and sold the same shares at the same price to Glitrafjord AS, a company wholly owned by Eilert Hanoa through AS Real-Forvaltning. Following these transactions Eilert Hanoa owns 41,283,910 shares in the Company through Glitrafjord AS. In addition, he holds 925,000 options and 250,000 RSUs in the Company. - Alexander Remen, employee representative of the board of directors, has exercised 60,000 vested options at a strike price of NOK 1.67 per share and sold 60,000 shares at a price of NOK 21 per share. Following this transaction, Alexander Remen holds 270,000 options and 75,000 RSUs in the Company. - Patrik Jandusik, deputy employee representative of the board of directors, has exercised 4,500 vested options at a strike price of NOK 6.67 per share and sold 4,500 shares at a price of NOK 21 per share. Following this transaction, Patrick Jandusik holds 6,550 options and 5,000 RSUs in the Company. For further information please contact: Ken Østreng, CFO Phone: +47 911 51 686 Email: keno@kahoot.com Jonas Forslund, Director Investor Relations Phone: +358 40 595 0968 Email: jonasf@kahoot.com This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.