Norsk Titanium AS: Grant of RSUs and Performance shares under LTIP and exercise of RSUs and share capital increase

Oslo, Norway, 17 January 2025: Reference is made to the stock exchange announcement on 14 May 2024 where Norsk Titanium AS ("Norsk Titanium" or the "Company") announced that the general meeting of the Company had resolved to continue its long-term incentive program (the "LTIP"). In connection with the LTIP, the board of directors was authorised to administrate the LTIP and to increase the Company's share capital in order to execute the LTIP. Participants in the Company's LTIP have on 17 January 2025 exercised a total of 996,762 Restricted Share Units ("RSU's"). Each RSU gives a right to acquire one share in the Company at a subscription price equal to the nominal value of the shares, being NOK 0.08. The RSUs are described in note 4.7 in Norsk Titanium's annual financial statements for 2023. The Company has resolved to settle 214,575 RSUs with cash consideration to allow the beneficiaries to settle taxes. The remaining 782,187 RSUs exercised will be settled by issuance of new shares in the Company. Following the exercise, the Board of Directors, pursuant to authorisation granted by the Company's Annual General Meeting, has decided to increase the Company’s share capital by NOK 62,574.96 by issuing 782,187 new shares, of par value NOK 0.08. Subsequent to the transaction, Norsk Titanium's share capital will be NOK 64,233,324.16 divided into 802,916,552 shares, each share having a par value of NOK 0.0.8 and carrying one vote in the Company’s general meeting. In addition, according to the authorisation the board of directors resolved to make a new total grant of 11,432,190 RSUs and performance shares (“Performance Shares”) in accordance with the LTIP. The total number of RSUs and Performance Shares granted by the board of directors equals 1.42% of total shares issued in the Company. The granted RSUs are subject to a time-based vesting. Of the total granted, 50% will vest rateably on each of the first three anniversaries of the grant date. Vesting of the Performance Shares is based on the achievement of financial or other performance goals. The number of Performance Shares that vest will be decided by the board of directors after year end 2027 with vesting on 17 January 2028. RSUs and Performance Shares are automatically exercised at vesting with an exercise price corresponding to the par value of the shares being NOK 0.08. Of the total grant the following was granted to primary insiders: • Carl Johnson was granted 548,944 RSUs and 548,944 Performance Shares • Ashar A. Ashary was granted 379,993 RSUs and 379,993 Performance Shares • Gail A. Balcerzak was granted 410,755 RSUs and 410,755 Performance Shares • Nicholas Mayer was granted 358,181 RSUs and 358,181 Performance Shares • Odd Terje Lium was granted 255,551 RSUs and 255,551 Performance Shares • Laura Krahn, Vice President Digital Technology and Architecture was granted 269,987 RSUs and 269,987 Performance Shares • Khazeem Adesokan was granted 336,091 RSUs and 336,091 Performance Shares • Anne Lene Gullen Bråten was granted 186,441 RSUs and 186,441 Performance Shares Primary insider notifications pursuant to the market abuse regulation article 19 are attached. For more information, please contact: John Andersen, Chairman of Norsk Titanium AS Email: John.Andersen@scatec.no Tel: +47 90 17 40 80 Carl Johnson, CEO of Norsk Titanium Email: Carl.Johnson@norsktitanium.com Tel: +1 518 324 4010 Ashar Ashary, CFO of Norsk Titanium AS Email: Ashar.Ashary@norsktitanium.com Tel: +1 518 556 8966 About Norsk Titanium: Norsk Titanium is a global leader in metal 3D printing, innovating the future of metal manufacturing by enabling a paradigm shift to a clean and sustainable manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®) technology and 700 MT of production capacity, Norsk Titanium offers cost-efficient 3D printing of value-added metal parts to a large addressable market. RPD® technology uses significantly less raw material, energy, and time than traditional energy-intensive forming methods, presenting customers with an opportunity to better manage input costs, logistics, and environmental impact. RPD® printed parts are already flying on commercial aircraft, and Norsk Titanium has gained significant traction with large defense and industrial customers. For the latest news, go to www.norsktitanium.com or follow us on LinkedIn. This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and 5-12 of the Norwegian Securities Trading Act.