Norsk Titanium continues progress towards expansion in the commercial aerospace
market. The company is awaiting final qualification approval of its RPD®
technology for serial production of titanium parts for delivery to tier-one
suppliers of Airbus, which is expected in the first half 2023. 

President and CEO Michael Canario will be hosting meetings today with investors
in Oslo, as Norsk Titanium continues to evaluate strategic opportunities to
secure additional long-term funding while the company begins to ramp up
production during the first half of 2023.

"We are very pleased with our progress with Airbus. Upon final qualification
approval of our technology, we could quickly expand our backlog with serial
production of parts under multi-year contracts. The building of a backlog with
Airbus and other commercial aerospace customers will represent significant
de-risking of our business plans," says Canario.

Upon successful final qualification, Norsk Titanium will supply up to a total of
300 parts across two part numbers to Airbus' A350 program. In addition, there
are ongoing discussions to initiate serial production in 2023 of two similar
sized parts and one larger part on the same aircraft program.

Hittech, a critical supplier to the semiconductor industry, recently awarded the
company an order for serial production of ASML carrier trays. This is another
significant milestone supporting Norsk Titanium's long-term vision of innovating
the future of metal alloy manufacturing, and the transition from a strong
technology position into large commercial opportunities across the commercial
aerospace, industrial and defense industries. 

The company reiterates its previously indicated revenue target of USD 150
million in 2026, with a capacity utilization of approximately 50% of existing
production facilities. The scope of the contract with Hittech and the potential
orders from Airbus tier-one suppliers indicate a revenue level of USD 7-15
million for this year, with the timing of the ramp up of production explaining
the deviation from the previously indicated target of USD 15 million for 2023.
Please find enclosed an updated corporate presentation which will be used in
today's investor meetings. 

For more information, please contact:

Michael Canario, President and CEO of Norsk Titanium 
Email: Michael.Canario@norsktitanium.com 
Tel: +1 518 324 4010 

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


About Norsk Titanium
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 700 MT of production capacity, 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 us on LinkedIn. 

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.