CondAlign is a technology company based in Oslo and is in the process of scaling the commercialization of two unique, ground-breaking and patent protected product lines in a global multi billion market. 

CondAlign is working in close cooperation with Saint-Gobain Tape Solutions to commercialize the thermal interface material for use in Electric Vehicle battery packs and Thermal transfer tape for electronic products. The global market is estimated to be more than NOK 12bn annually (2023 and growing) and CondAlign is currently in process of negotiating a license agreement with Saint-Gobain to address this market, targeting commercial sales and revenue in 2024.

Additionally, CondAlign are commercializing a unique electrically conductive film (E-Align) that is addressing a global market of NOK 16bn (2023 and growing). Multiple contracts are already signed with companies like BeFC (French) and Haltian Oy (Finish) and the product is already implemented in 5 different prototype products in 5 different companies and is estimated to be produced in millions of units in 2024 and onwards. Currently more than 45 additional companies are testing our E-Align product and the number is growing promptly.

Within 2028, CondAlign is targeting revenues of NOK 638m, representing 1.5% of the addressable market.

With approval from the General meeting and the board, CondAlign will initiate a process of contacting professional investors in connection with a contemplated issuance of a convertible loan with independent subscription rights.  Targeted size of the loan is maximum NOK 25 million, of which the company’s largest shareholder NTG will subscribe to NOK 15 million through conversion of a shareholder loan. This funding, together with debt funding sources, will secure time for building customer backlog and revenue as well as attracting strategic partners. 

Key terms for the convertible loan and independent subscription rights will be as follows:
1.	Interest rate of 12% p.a.;
2.	Maturity date 30 June 2024;
3.	Right to convert the loan amount including accrued interest into a new class of preference shares, at a subscription price per share corresponding to the subscription price in the next share issue in the company
4.	For each NOK 16.67 in loan the applicant is allocated, the applicant will receive one independent subscription right to subscribe for a new preference share;
5.	The independent subscription rights are valid for 18 months from date of issuance, and provide protection against dilution by entitling holders to subscribe for preference shares at the lowest subscription price that previously offered for any share class during the term.

The preference shares are a new class of shares, and each share grants the holder the right, in the event of distributions from the company (including sale of the company), to first receive an amount equal to the subscription price of each preference share, in addition to their proportionate portion of the total remaining distribution amounts. 

Please find attached an updated Investor presentation dated 4 December 2023.

Best regards,
Harald Wahl Breivik	
CEO, CondAlign AS