Oslo, Norway - 16 February 2024


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OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, Norway, 16 February 2024: Reference is made to the stock exchange
announcement published by Capsol Technologies ASA (the "Company") on 14 February
2024 regarding a contemplated private placement (the "Private Placement") of new
ordinary shares in the Company (the "Offer Shares").

The Company is pleased to announce that the Private Placement has been
successfully completed, raising gross proceeds of approx. NOK 88.27 million
through the issuance of 7,005,274 Offer Shares in the Company, each at a
subscription price of NOK 12.60 per Offer Share (the "Offer Price"). The Private
Placement was pre-sounded with an offer size range of NOK 34 - 50 million.
However, due to strong demand from existing shareholders, primary insiders and
new high-quality investors (including institutions), the offer size range was
upsized to NOK 75 - 100 million at broad launch of the Private Placement. The
Offer Price represents a 3.5% premium to the volume weighted average price per
share over the previous 10 trading days up until launch of the Private Placement
(ending on 13 February 2024), and a 0.8% premium to the closing market price at
the end of the application period (16 February 2024). The Private Placement has
been managed by Pareto Securities AS and SpareBank 1 Markets AS as joint lead
managers and joint bookrunners (the "Managers").

The share issue provides the Company a strong financial basis to execute on its
business plan. The net proceeds to the Company from the Private Placement will
go towards financing strategic initiatives within new markets, new solutions and
new revenue streams, specifically