Oslo, 18 April 2023

Reference is made to the announcement by Nordic Technology Group AS ("NTG") on
13 April 2023 regarding the contemplated private placement (the "Private
Placement") of CrayoNano AS ("CrayoNano"), in which NTG has applied for new
shares. 

CrayoNano today announced that the Private Placement was successfully placed at
a price per new share of NOK 14.00, raising gross proceeds of approximately NOK
125 million. NTG has been allocated 1,097,193 new shares in respect of the
conversion of its approx. NOK 15,3 million attributable amount related to a
bridge loan (the "Bridge Loan") afforded to CrayoNano earlier this year. In
addition, NTG has been conditionally allocated 142,857 new shares in CrayoNano
corresponding to a cash subscription amount of approx. NOK 2 million in the
Private Placement, which, together with the Bridge Loan conversion, in aggregate
amounts to an approx. NOK 17.3 million investment by NTG, corresponding to
1,240,050 new shares in CrayoNano in the Private Placement. 

Subject to the completion of the Private Placement and assuming full allocation,
NTG will subsequently hold 5,390,760 shares in CrayoNano, representing 14.44% of
the share capital and voting rights. As part of the Private Placement, NTG has
entered into a lock-up undertaking in which NTG commits not to divest its shares
in CrayoNano for a period of 12 months, subject customary exemptions.

In connection with the indemnity undertaking provided on behalf of CrayoNano to
the managers of the Private Placement, NTG will be entitled to receive a
commission of NOK 2,499,882.

Completion of the Private Placement remains subject to certain conditions
related to the subscription by the European Innovation Council (EIC) fund, and
furthermore (i) the conversion of the Bridge Loan having taken place, (ii) the
annual general meeting of CrayoNano (the "AGM") resolving to approve the Private
Placement and issue the new shares in CrayoNano, (iii) payment being received
for all of the new shares in CrayoNano, (iv) the board of directors of CrayoNano
(the "Board") and the AGM approving the an option scheme to be implemented by
CrayoNano, including the AGM authorizing the Board to issue the corresponding
shares and (v) registration in the Norwegian Register of Business Enterprises of
the share capital increase pertaining to the Private Placement and the allocated
new shares in CrayoNano being validly issued and registered in the VPS. 
CrayoNano has further announced, subject to certain conditions, that it will
carry out a subsequent offering of up to 1,785,714 new shares at the offer price
in the Private Placement, directed towards existing shareholders in the Company
as of 18 April 2023 not being allocated shares in the Private Placement, subject
to certain qualifications. 
For more information about the Private Placement, please refer to the
announcements by CrayoNano on Euronext NOTC dated 11 April 2023 relating to the
launch of the Private Placement, on 13 April 2023 regarding coverage of the
minimum deal size and on 18 April 2023 regarding the Private Placement being
successfully placed. 

For information about CrayoNano, please refer to
https://crayonano.com/investors.

For further information, please contact:

Group CEO Rune Rinnan
Chair CrayoNano AS

About Nordic Technology Group
Nordic Technology Group (NTG) is dedicated to technologies contributing to solve
society challenges by using electronics and software as its building blocks. By
devotion to its technology segments, sensor, nanomaterials and clean-tech, NTG
is targeting international markets and building industry leaders, by utilizing
synergies within and across each of its technology sectors and by leveraging on
its extensive patent library to secure shareholder value and growth.