LAUSANNE, Switzerland, 24 November 2022 - Astrocast

On 30 May 2022, Astrocast SA ("Astrocast") announced an agreement for the
contemplated acquisition of Hiber B.V. ("Hiber"), a Netherland-based,
IoT-as-a-Service provider (the "Agreement"). Under the Agreement, Astrocast
agreed to acquire all of Hiber's shares in exchange for the issuance of new
Astrocast shares. The acquisition was conditioned on the completion of
Astrocast's proposed public offering on Euronext Growth Paris and other
customary closing conditions. The Agreement is subject to a long stop date on 30
November 2022 (the "Long Stop Date").

Astrocast has now received a notification from Hiber and certain of its
shareholders that they terminate the Agreement with effect from the Long Stop
Date. From the received notice of termination, Astrocast also understands that
Hiber is claiming an obligation for Astrocast to grant a convertible loan in the
amount of EUR 1,500,000, allegedly due pursuant to the Agreement. Hiber has
informed that it is referring the matter of the convertible loan grant to
mediation and dispute resolution in arbitration under the provisions of the
Agreement.

Astrocast disputes that there is a basis for the claim against the Company as
made by Hiber and will assess all legal remedies to support its position.

Due to challenging market conditions for fundraising the last six months, the
liquidity for the Company has been tight. The Company has been able to fund
requirements for existing operations through convertible notes issued by
existing investors. The Company will continue to assess strategic alternatives
for strengthening its financial position on a long-term basis. 


Contact details
For investors
Kjell Karlsen, Chief Financial Officer
Investors@astrocast.com

Media Contact Astrocast 
Fatima Vigil, Head of Marketing
media@astrocast.com

About Astrocast

Astrocast SA operates one of the world's most advanced global nanosatellite IoT
networks, offering services in industries such as Agriculture & Livestock,
Maritime, Environmental, Connected Vehicles, and Oil, Gas & Mining to name a
few. The Astrocast network enables companies to monitor, track, assess, and
communicate with remote assets from anywhere in the world. In partnership with
Airbus, CEA/LETI, ESA, and Thuraya, Astrocast developed Astronode S, a
cutting-edge module featuring low profile L-band antenna, ultra-low power
consumption, and a small form factor. Founded in 2014 by a renowned team of
experts, Astrocast designs, develops, and tests all its products in-house, from
the satellites to the terminals. Astrocast is listed on Euronext Growth Oslo.
For more information visit www.astrocast.com

Important notice:

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Kjell Karlsen, Chief Financial
Officer, Astrocast SA, on the time and date set out above in the announcement.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. 

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

Forward-looking statements

This announcement contains statements regarding the prospects and growth
strategies of the Company. These statements are sometimes identified by the use
of the future or conditional tense, or by the use of forward-looking terms such
as "considers", "envisages", "believes", "aims", "expects", "intends", "should",
"anticipates", "estimates", "thinks", "wishes" and "might", or, if applicable,
the negative form of such terms and similar expressions or similar terminology.
Such information is not historical in nature and should not be interpreted as a
guarantee of future performance. Such information is based on data, assumptions,
and estimates that the Company considers reasonable. Such information is subject
to change or modification based on uncertainties in the economic, financial,
competitive or regulatory environments. The Company's forward-looking statements
speak only as of the date of this announcement. Absent any applicable legal or
regulatory requirements, the Company expressly disclaims any obligation to
release any updates to any forward-looking statements contained in this
announcement to reflect any change in its expectations or any change in events,
conditions or circumstances, on which any forward-looking statement contained in
this announcement is based.

The Company operates in a competitive and rapidly evolving environment