NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, JAPAN,
HONG KONG, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. 

Oslo, 8 November 2023

Reference is made to the offer document dated 27 July 2023 (the "Offer
Document") for the recommended voluntary offer (the "Offer") by Kangaroo BidCo
AS (the "Offeror") to acquire all outstanding shares ("Shares") in Kahoot! ASA
("Kahoot!" or the "Company") for a cash consideration of NOK 35.00 per share
(the "Offer Price"). Reference is further made to the announcement dated 9
October 2023 regarding the preliminary results of the Offer. Reference is also
made to the settlement notification dated 11 October 2023 (the "Settlement
Notification"). 

The Offer was accepted for a total of 251,984,624 Shares, which, taken together
with the 148,015,955 Shares to which the Offeror is conditionally entitled
pursuant to the investment agreement dated 14 July 2023 (the "Investment
Agreement"), equals 400,000,579 Shares, equivalent to approximately 81.16% of
the share capital and voting rights in the Company.

Additionally, the Offeror's related party entities, Kangaroo TopCo S.à r.l.,
WSCP VIII Emp Investments B S.à r.l., ELQ Lux Holding S.à r.l. and Special
Situations 2022 Lux S.à r.l. have acquired or agreed to acquire 14,470,218
Shares, which taken together with the Shares under the Offeror and the Shares
which the Offeror is conditionally entitled pursuant to the Investment
Agreement, equals an aggregate of 414,470,797 Shares, representing approximately
84.10% of the share capital and voting rights of the Company.

Provided that the other closing conditions remain satisfied until settlement of
the Offer or are waived by the Offeror, settlement will take place no later than
Thursday 9 November 2023, being twenty (20) Business Days (as defined in the
Offer Document) after the Settlement Notification.

Following the completion of the Offer, subject to the closing conditions, the
Offeror intends to make a mandatory offer to acquire the remaining Shares
pursuant to chapter 6 of the Norwegian Securities Trading Act. If the Offeror
becomes the owner of 90% or more of the Shares and voting rights in the Company,
the Offeror intends to carry out a compulsory acquisition of the remaining
Shares pursuant to section 4-25 of the Norwegian Public Companies Act and
section 6-22 of the Norwegian Securities Trading Act.

For further information on the Offer, visit: https://danskebank.no/Kahoot 

Media relations
For Goldman Sachs 
Joseph Stein, Corporate Communications 
Phone: +44 207 774 4080

For Kahoot! 
Axel Heiberg-Andersen, Sr. Communications Manager 
Tel: +47 924 97 627 
Email: axelh@kahoot.com 

Press inquiries: press@kahoot.com
 
Ken Østreng, CFO 
Tel: +47 911 51 686 
Email: keno@kahoot.com 

For General Atlantic 
Emily Japlon 
Email: media@generalatlantic.com

Important notice 
The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions. The
Offer Document and related acceptance forms are not and may not be distributed,
forwarded or transmitted into or within any jurisdiction where prohibited by
applicable law, including, without limitation, Canada, Australia, New Zealand,
South Africa, Hong Kong and Japan. The Offeror does not assume any
responsibility in the event there is a violation by any person of such
restrictions. Persons in the United States should review "Notice to U.S.
Holders" below. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions.

This announcement is for information purposes only and is not a tender offer
document and, as such, is not intended to and does not constitute or form any
part of an offer or the solicitation of an offer to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of any securities, or the solicitation
of any vote or approval in any jurisdiction, pursuant to the Offer or otherwise.
The Offer Period has now expired. Accordingly, investors may no longer accept
the Offer. Offers have not been and will not be made directly or indirectly in
any jurisdiction where either an offer or participation therein is prohibited by
applicable law or where any tender offer document or registration or other
requirements would apply in addition to those undertaken in Norway.

No profit forecasts or estimates
No statement in this announcement is intended as a profit forecast or profit
estimate and no statement in this announcement should be interpreted to mean
that earnings or earnings per Share for the current or future financial years
would necessarily match or exceed the historical published earnings or earning
per Share.

Forward-looking statements
This announcement, oral statements made regarding the Offer, and other
information published by the Offeror and/or Kahoot! may contain statements which
are, or may be deemed to be, "forward looking statements". Such forward looking
statements are prospective in nature and are not based on historical facts, but
rather on current expectations and on numerous assumptions regarding the
business strategies and the environment in which the Kahoot! group will operate
in the future and are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by those
statements. The forward looking statements contained in this announcement relate
to the Kahoot! group's future prospects, developments and business strategies,
the expected timing and scope of the Offer and other statements other than
historical facts. In some cases, these forward looking statements can be
identified by the use of forward looking terminology, including the terms
"believes", "estimates", "will look to", "would look to", "plans", "prepares",
"anticipates", "expects", "is expected to", "is subject to", "budget",
"scheduled", "forecasts", "synergy", "strategy", "goal", "cost-saving",
"projects" "intends", "may", "will" or "should" or their negatives or other
variations or comparable terminology. Forward-looking statements may include
statements relating to the following: (i) future capital expenditures, expenses,
revenues, earnings, synergies, economic performance, indebtedness, financial
condition, dividend policy, losses, contract renewals and future prospects