Norsk Titanium: First half 2021 - Operational progress and strengthened financial position

August 31, 2021: Norsk Titanium AS, a global leader in metal 3D printing, today
releases its interim report for the first half of 2021, showing continued
operational progress and a strengthened financial position. The company has 25
active customer engagements and partnerships within aerospace, defense, and
industrial applications. Success in qualifying serially produced parts for
commercial aerospace structures represents the ultimate proof-of-concept for
Norsk Titanium's proprietary Rapid Plasma Deposition (RPDTM) technology and is
now setting the standard for metal 3D printing. This opens the door to other
markets with large long-term potential for value creation.
 
Operational Highlights
o Continued perfect quality and on-time deliveries to tier-one Boeing suppliers
o Testing to extend the number of RPDTM produced parts applicable for Boeing 
o Machine qualifications supporting initial parts in production for Airbus
mid-2022
o Ongoing testing with prime US Department of Defense contractor
o New contract for full material qualification with US Department of Defense
prime contractor
o Demonstration and qualification order from semiconductor manufacturer Hittech 
o 22 new patents granted first half of 2021, now holding 127 global patents with
56 applications pending

Financial highlights
o Listed on Euronext Growth after successful USD 38 million capital raise 
o Completed debt-for-equity swap for all outstanding shareholder loans (USD 97.6
million) and raised further USD 6.8 million through a repair issue 
o Received 30% of a NOK 35 million grant from Innovation Norway
o Revenue of USD 0.3 million from delivery of 366 serially produced parts and
USD 0.3 million from customer funded development programs
o Ending cash balance of USD 35 million as of June 30

 "We see a growing use of titanium across industries, and we are in position to
rapidly scale along increased demand for consistent forged quality material"
Says Michael Canario, CEO of Norsk Titanium. "Our efforts to finalize ongoing
customer qualification programs are high on our agenda, as we work to position
ourselves as the preferred supplier of serially produced parts for aerospace and
other selected markets. The funding enabled through the Euronext Growth listing
will support our ongoing development with our customers and the transition of
our technology into new markets." 

CEO Michael Canario and VP Finance Ashar Ashary will present the company's
results at 08:30 CEST. Please use the following link to access the presentation:
https://streams.eventcdn.net/norsktitaniumas/1h-2021

For further information, please contact:
Ashar Ashary
VP Finance
ashar.ashary@norsktitanium.com
+1 (518) 556-8966

ABOUT NORSK TITANIUM
Norsk Titanium AS was founded in 2007 in Norway and has pioneered the use of its
patented additive manufacturing process, Rapid Plasma DepositionTM (RPDTM). It has
been supplying flight qualified structural components since 2017, and today the
company operates manufacturing facilities in the State of New York and Norway.
The company is distinguished in the aviation industry by its proprietary RPDTM
technology that transforms titanium wire into complex components suitable for
structural and safety-critical applications. Norsk Titanium is a supplier to
commercial aerospace tier-one manufacturers and is committed to cost-reducing
aerostructures and jet engines for the world's premier aerospace companies. RPDTM
is an NTI proprietary process for manufacturing 3D-printed, structural titanium,
delivering substantial lead-time and cost savings for aerospace, defense and
commercial customers.

www.norsktitanium.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. This stock exchange release was
published by Ashar Ashary, VP Finance, on 31 August 2021 at 07:00 CEST.