Reference is made to the stock exchange announcement published by poLight ASA (the "Company") on 22 March 2024, concerning, among other things, a notice for an extraordinary general meeting (the "EGM") to discuss and approve a partially underwritten rights issue, to raise gross proceeds of up to NOK 160 million (the "Rights Issue"), of which an underwriting consortium has agreed to underwrite subscription of new shares for gross proceeds of NOK 130 million.

As further described in the notice for the EGM, the subscription price in the Rights Issue is proposed to equal the theoretical ex-rights price ("TERP") of the Company's shares based on the volume-weighted average price ("VWAP") of the Company's shares on the Oslo Stock Exchange on the last trading day prior to the EGM (i.e. the trading day that expired 16.30 CEST today), less a discount of 30%.

The Company's Board of Directors (the "Board") has today, based on a recommendation from Pareto Securities AS (acting as Manager for the Rights Issue) determined that the subscription price in the Rights Issue is proposed set to NOK 2.3085 per share, which represents a discount of 30% to the TERP of the Company's shares based on the VWAP of the Company's shares on the Oslo Stock Exchange as of today, 18 April 2024, of NOK 4.3335 per share.

On this basis, the Board has resolved to propose to the EGM that the Company's share capital is proposed increased with minimum NOK 2,252,544.92 and maximum NOK 2,772,363.00 by issuance of minimum 56,313,623 new shares and maximum 69,309,075 new shares, each with a par value of NOK 0.04.

For further information regarding the Rights Issue, please see the notice for the EGM, which is available on https://www.polight.com/investors/general-meetings/default.aspx.

Advisers:

Pareto Securities AS has been retained by the Company to act as manager and bookrunner for the Rights Issue.

Advokatfirmaet CLP DA is acting as legal adviser to the Company in connection with the Rights Issue.