Oslo, Norway, 6 May 2024: Reference is made to the stock exchange announcement
by Norsk Titanium AS (the "Company") on 29 April 2024 regarding the completion
of a private placement of a total of 110,000,000 new shares (the "Offer Shares")
raising gross proceeds of NOK 275 million, equivalent to approx. USD 25 million
(the "Private Placement"). 

The share capital increase relating to tranche 1 of the Private Placement
("Tranche 1"), consisting of 53,703,630 Offer Shares out of the total of
110,000,000 Offer Shares in the Private Placement, is now registered with the
Norwegian Register of Business Enterprises. The Company's new registered share
capital is NOK 45,625,490.56 divided into 570,318,632 shares. Each share has a
nominal value of NOK 0.08 and represents one vote in the Company's general
meeting.

The second tranche consists of 56,296,370 Offer Shares ("Tranche 2"). The
settlement of Offer Shares in Tranche 2 is expected to take place on or about 16
May 2024, subject to a resolution by the general meeting, scheduled to be held
on or about 14 May 2024. For further information on Tranche 2, reference is made
to the stock exchange announcement on 29 April 2024. 

For more information, please contact: 

John Andersen, Chairman of Norsk Titanium AS 
Email: John.Andersen@scatec.no 
Tel: +47 90 17 40 80 

Carl Johnson, President & CEO Norsk Titanium AS
Email: Carl.Johnson@norsktitanium.com
Tel: +1 518 324 4010

Ashar Ashary, CFO Norsk Titanium AS 
Email: Ashar.Ashary@norsktitanium.com 
Tel: +1 518 556 8966

For information about the Private Placement, please contact Carnegie AS (the
"Manager"): +47 22 00 93 40
This information is published in accordance with the requirements of the
Continuing Obligations for companies listed on Euronext Growth Oslo and section
5-12 of the Norwegian Securities Trading Act.

About Norsk Titanium AS:
Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.

For the latest news, go to www.norsktitanium.com or follow the Company on
LinkedIn.