6.8.2025 17:23:55 CEST | Huddlestock Fintech AS | Non-regulatory press releases

Reference is made to the stock exchange announcement made by Huddlestock Fintech
AS ("Huddlestock" or the "Company") on 14 April 2025 regarding the transaction
agreement with Done.ai - http://done.ai Group AB ("Done.ai - http://done.ai"),
listed on Nasdaq First North Growth Market, whereby Done.ai - http://done.ai 
acquires Huddlestock's Nordic Investment-as-a-Service ("IaaS") platform (the
"Transaction").

"The Transaction marks a significant milestone in Huddlestock's strategic
transformation," says Leif Arnold Thomas, CEO of Huddlestock Fintech. "By
divesting our Nordic platform, we have sharpened our focus on Europe and
repositioned the Company around an asset-light, partner-driven
Investment-as-a-Service model. This strategic shift strengthens our balance
sheet, streamlines operations, and allows us to concentrate our resources on
scalable growth through Visigon and our European IaaS platform. We are confident
this strategy positions Huddlestock for long-term value creation. In line with
the terms in the Transaction, Huddlestock will distribute 20 percent of the 
Done.ai - http://done.ai shares received in the Transaction to our supportive
shareholders."

SHARES RECIEVED FOR 4.57 PERCENT OWNERSHIP IN DONE.AI - http://done.AI 
Huddlestock announces that it today has received 3,761,020 shares, constituting
4.57 percent of the shares outstanding [1], in Done.ai - http://done.ai. The
shares are received following the conversion of its NOK 56 million seller's
credit note ("Seller's Credit") issued in connection with the first closing of
the Transaction announced on 24 April 2025. The Seller's Credit was converted
into Done.ai - http://done.ai shares at a share price of SEK 14 and with a
foreign exchange rate of 0.94374.

The final purchase price of the Transaction, including adjustments for net cash
on 24 April 2025, has been settled at NOK 79 million based on the agreed
enterprise value of NOK 70 million. In addition to the Seller's Credit, NOK 10
million of the purchase price was paid in cash upon the first closing. As the
approval by the Norwegian Financial Supervisory Authority ("NFSA") of the
transfer of the shares in Huddlestock Investor Services AS ("HIS") to Done.ai -
http://done.ai has been obtained, the second and final closing of the
Transaction has been initiated and is expected to be completed shortly. As such
an additional seller's credit note of approximately NOK 13 million will be
issued and subsequently converted into Done.ai - http://done.ai shares at a
share price of SEK 14 and at the prevailing foreign exchange rate at the
conversion date. At the current foreign exchange rate, this conversion reflects
a total of approximately 890,000 additional Done.ai - http://done.ai shares.

DISTRIBUTION TO HUDDLESTOCK SHAREHOLDERS
In total, Huddlestock can receive up to approximately 4,651,020 Done.ai -
http://done.ai shares pending the foreign exchange rates. 20 percent of the
total Done.ai - http://done.ai shares received by Huddlestock in the
Transaction, up to approximately 930,204 shares, will be distributed to
Huddlestock's shareholders. At current market prices the shareholder
distribution reflects approximately 6 percent of Huddlestock's current market
capitalization.

The distribution is expected to be resolved and completed no later than the end
of the third quarter of 2025, with more details to be disclosed in due course.
The remaining 80 percent of the shares will be subject to a lock-up period of
six months from the date of conversion, subject to customary exemptions.


[1] Total shares outstanding in Done.ai - http://done.ai following the
conversion of seller's credit notes issued in relation to recent acquisitions
are 82,377,614, with reference to its stock exchange announcement on 14 July
2025.

CONTACTS

 * Leif Arnold Thomas, Chief Executive Officer, Huddlestock Fintech AS, +47 982
   15 520, leif.thomas@huddlestock.com 

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock is an innovative technology software provider through its
Investment-as-a-service offering, with full operational service support and a
leading financial Consultancy services business. We deliver innovative and
sustainable technology and operational solutions to companies offering financial
products and services.

Find out more at huddlestock.com - https://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18610776/6341/Download%20announce
ment%20as%20PDF.pdf