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Oslo, 11 September 2025: Reference is made to the stock exchange announcement by
Airthings ASA ("Airthings" or the "Company", OSE: AIRX) on 8 September 2025,
regarding a fully underwritten NOK 105 million capital injection through a
private placement (the "Private Placement") of new shares to be followed by a
subsequent repair offering (the "Subsequent Offering" and together with the
Private Placement, the "Equity Offering"), each at a subscription price of NOK
0.10 per share (the "Offer Price").

The Company is pleased to announce that the Private Placement has been
successfully placed, allocating 800,000,000 new shares at the Offer Price,
raising gross proceeds to the Company of NOK 80 million. 164,910,169 shares were
allocated to the consortium underwriting the full amount of the Equity Offering.
The net proceeds from the Equity Offering will be used for working capital and
general corporate purposes.

Firda AS, the Company's largest shareholder and currently holding 28.7% of the
Company's shares is expected, as a result of the Private Placement and its
underwriting commitments, to surpass 1/3 ownership (approx. 41.69%) of the
Company upon and subject to completion of the Private Placement (but before
completion of the Subsequent Offering), and in turn therefore be expected to
trigger a mandatory offer obligation and thus be required to make a mandatory
offer for the remaining shares at NOK 0.10 per share (the highest price paid by
it the last six months) or reduce its holding below the threshold. Such offer,
if required and made, will be made after completion of the Private Placement. As
stated in previous announcements, the underwriters and subscribers in the
Private Placement have all undertaken not to accept such mandatory offer, if
made, for any shares held by them (both currently held shares and any shares
acquired through the Private Placement or otherwise). With respect to the shares
to be issued in the Subsequent Offering, it is expected that these will be
issued after completion of any such mandatory offer, and thus not be eligible
for acceptance thereof.

The Board has today resolved to conditionally allocate the new shares in the
Private Placement, pending an extraordinary general meeting in the Company to be
held on 30 September 2025 (the "EGM"), to approve the share capital increase
pertaining to the Private Placement and issue of the new shares. The Board has
furthermore resolved to propose that the EGM grants the Board an authorization
to issue new shares in a potential Subsequent Offering. The notice to the EGM
was released by the Company on 9 September 2025. 

Notice of conditional allocation and payment instructions to the applicants in
the Private Placement will be communicated by the Manager (as defined below) on
or about 12 September 2025. Completion of the Private Placement will remain
subject to (i) all necessary corporate resolutions being validly made by the
Company, including the approval by the EGM of the Private Placement and issuance
of the new shares, (ii) the filing of a de-listing application as described
below and (iii) registration of the share capital increase pertaining to the
Private Placement with the Norwegian Register of Business Enterprises and the
new shares being validly issued and registered with the VPS. Items (i), (ii) and
(iii) above are hereinafter referred to as the "Conditions". 

Subject to fulfilment of Conditions, the Private Placement is expected to be
settled shortly after the EGM. The new shares allocated to applicants in the
Private Placement will be registered on a separate ISIN pending a prospectus
(the "Prospectus") for the listing of such shares, and for the Subsequent
Offering, being approved by the Norwegian Financial Supervisory Authority and
published by the Company, and will pending such approval and publication not be
tradable on the Oslo Stock Exchange.

Following (and subject to) the issuance of the new shares in the Private
Placement (but prior to the Subsequent Offering), the Company will have a share
capital of NOK 9,993,018.46 divided into 999,301,846 shares, each with a par
value of NOK 0.01.

Allocation to primary insiders:

The following primary insiders of the Company (or persons closely associated
with them) have been conditionally allocated shares in the Private Placement for
a total of approx. NOK 37.6 million (approx. 47.1% of the Private Placement) at
the Offer Price: 

Firda AS (close associate to Chair of the Board Geir Førre): approx. NOK 35.9
million
A Management AS (close associate to Board member Aksel Lund Svindal: approx. NOK
1.7 million

Subsequent Repair Offering and equal treatment considerations

Completion of the Private Placement entails a deviation from the preferential
rights of the existing shareholders. To ensure that all shareholders are
afforded the same opportunity to subscribe for new shares and maintain their
relative shareholding in the Company after completion of the Equity Offering,
the Board has as previously announced resolved to propose that the EGM
authorizes the Board to resolve a share capital increase in connection with a
Subsequent Offering of up to 250,000,000 new shares in the Company, equal to
approx. NOK 25,000,000 in gross proceeds. 

The Subsequent Offering will be directed towards existing shareholders as of 8
September 2025 (as registered in VPS on 10 September 2025 (the "Record Date"))
with less than 375,000 shares and who were not allocated shares in the Private
Placement and are not resident in a jurisdiction where such offering would be
unlawful or would (in jurisdictions other than Norway) require any prospectus,
filing, registration or similar action (the "Eligible Shareholders"). 

The subscription price in the Subsequent Offering will be equal to the Offer
Price in the Private Placement. The Eligible Shareholders will receive
non-transferrable subscription rights in the Subsequent Offering.
Over-subscription with subscription rights, as well as subscription without
subscription rights, will not be permitted in the Subsequent Offering. The Board
will strive to ensure that all subscribers in the Subsequent Offering receive
pro rata allocation in line with their existing shareholding in the Company as
recorded in VPS on the Record Date. The Subsequent Offering is fully
underwritten, and any unsubscribed shares above such pro rata allocation will be
allocated to the underwriters.

The Subsequent Offering is subject to (i) completion of the Private Placement,
including registration of the share capital increase