(Oslo, 29.04.2025) Airthings ASA has agreed a non-binding Letter of Intent (LOI)
to explore a potential sale of its business segment assets to Firda AS.
Airthings has at the same time engaged a financial adviser to seek out
alternative buyers for the business segment assets, as well as to explore
strategic options for the company, including its consumer, business and pro
segment activities.

Firda is an investment firm controlled by Geir Førre, chair of the Airthings
board of directors (the Board), and owns 28.9 percent of Airthings. The agreed
LOI is non-binding.
 
The Board and management of Airthings are confident that there is substantial
potential for value creation for Airthings in all market segments. By divesting
its business segment assets, Airthings would secure additional capital to focus
on the continued development of the consumer business, the company's largest
activity. Should the sale of the business segment materialize, the Board will
also continue to consider alternatives for the remaining company assets.

Consumer awareness of indoor health quality products has increased significantly
during the past few years, particularly in North America, leading to increasing
demand for Airthings' products. However, during the last months, there has been
growing uncertainty of consumer spending in the United States, further
reinforced by the recently announced US tariffs, making it prudent to secure
additional capital to ensure a robust foundation for Airthings' activities going
forward.

Despite the current uncertainty, Airthings' long-term growth trajectory remains
intact, with strong trends for radon and dangerous pollutants stemming from
increased frequency of wildfires, among other things. 

Go-shop period and strategic review
Airthings and Firda have agreed to a go-shop period during which Airthings will
explore alternative transactions for the business segment or the entire company.
Should this process result in an alternative agreement deemed superior to the
transaction stipulated in the LOI by all stakeholders, also considering such
factors as timing and deal certainty, Firda has indicated that it would support
the pursuit of such a deal.

Airthings has granted Firda access to conduct a customary limited due diligence
of the business segment assets. The process is expected to be completed during
May 2025. Given the related party nature of the transaction proposed under the
LOI, the considerations and decisions related thereto has and will continue to
be taken by the disinterested directors of Airthings. Should the parties agree
on a definitive agreement for the transaction, Airthings will call an EGM to
ultimately decide whether to consummate the divestment.

Airthings has retained DNB Markets, a part of DNB Bank ASA, as its financial
advisor and Schjødt as its legal advisor.
 
Change to financial calendar
Due to the ongoing processes, Airthings' Board has decided to reschedule the
release of the Q1 2025 report from 6 May to 28 May 2025.

For further queries, please contact:
Emma Tryti, CEO
ir@airthings.com

Helge Øien, CFO
ir@airthings.com

About Airthings
Airthings is a leading global technology company specializing in radon detectors
and indoor air quality (IAQ) monitors for homes, businesses, and public
institutions.

The award-winning technology, recognized by TIME's Best Inventions, and the CES
Innovation Awards, generates billions of environmental datapoints, from more
than 1 million devices sold worldwide. Built on proprietary data, IAQ insight is
presented through Airthings' public radon map, and its hardware-enabled software
offering, and through research in collaboration with world-leading research
institutes.

With more than 80 percent of sales in North America, Airthings has established a
strong foothold in one of the world's largest markets, distributing through
top-tier retailers such as Amazon, The Home Depot and Target.
For more information on Airthings' comprehensive range of IAQ solutions and the
benefits of healthy indoor air, please visit airthings.com.

This information is subject to the disclosure requirements pursuant to MAR
Article 17 and Section 5-12 of the Norwegian Securities Trading Act.