Norsk Titanium AS: Primary insider trading

Oslo, Norway, 27 February 2023: In connection with the listing of Norsk Titanium AS (the "Company") on Euronext Growth Oslo, shareholders, individually, entered into a share lending agreement with NTi Holding AS ("NTi Holding") whereby their respective shares in the Company have been held on a separate Euronext VPS account in the name of NTi Holding AS. On 21 December 2022, the Company announced that a total of 2,774,100 shares were redelivered upon the sole discretion and instruction by 16 individual shareholders to their respective accounts with Royal Bank of Canada New York. The Company recently discovered an administrative error that led to the transfer of 1,156,800 shares in excess of the number of shares actually authorized to be transferred. As a result, 1,156,800 shares have been transferred back to NTi Holding’s VPS account for the share lending arrangement. NTi Holding is not the beneficial owner of the shares and the transfer of shares does not represent a purchase of shares by NTi Holding. NTi Holding will consequently neither increase nor decrease its ownership of 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, CFO of Norsk Titanium 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.