Stavanger, 12 July 2021

Reference is made to the stock exchange announcement on 25 June 2021, regarding
Zaptec AS' (the "Company") acquisition of all the shares in NovaVolt AG, through
its wholly-owned subsidiary Zaptec Charger AS (the "Transaction"). The
Transaction was completed today, 12 July 2021.

Novavolt AG is Zaptec's exclusive distributor in Switzerland and has 9
employees. The company generates robust profits from growing revenue and expects
a turnover of MNOK 80 in 2021, which is an organic growth rate of about 100%
from the previous year. The acquisition ensures Zaptec control over a larger
part of the value chain for the sale of charging systems in a strongly growing
electric car market in Switzerland. Approximately 1% of the car fleet is
electrified and 17% of new car sales is electric cars as of May 2021. About 60%
of homes in Switzerland are rental apartments, representing a large market for
the cutting-edge technology in our Zaptec Pro charging system.

In connection with the completion, the board of directors of the Company
resolved to increase the share capital of the Company by NOK 4,375 through the
issuance of 700,000 new shares, as partial consideration for the shares in
NovaVolt AG.'
 
The new shares are issued pursuant to the authorisation provided to the board of
directors at the annual general meeting in 2021. The shares are issued at a
price of NOK 40 per share.
 
Following the share capital increase, the Company will have a share capital of
NOK 475,060.4875 divided into 76,009,678  shares, each with a nominal value of
NOK 0.00625.
 
"Closing of this transaction will combine two companies with a strong market
position in the EV charging market. The EV market is growing fast in Switzerland
and with a stronger team of professionals in the combined company we will
increase our profitable sales growth and offer exciting careers for our
management and employees", says Anders Thingbø, CEO of Zaptec. 

For more information:
Anders Thingbø, CEO, Zaptec AS
Tel: +47 934 88 385, e-mail: at@zaptec.com
 
Kurt Østrem, CFO, Zaptec AS
Tel: +47 404 04 700, e-mail: kurt@zaptec.com
 
About Zaptec:
Zaptec AS is a technology company within Electronic vehicle (EV) charging
systems in Europe. The company develops EV charging systems for multi and
single-family homes and office buildings. The product portfolio enables large
number of charging points at a low cost and includes Zaptec Pro, Zaptec Go,
Charge365 payment services, Charging columns, Zaptec Portal, and Zaptec APM. The
company accelerates the electrification of the transport sector to assist
European countries in reducing CO2 emissions from light-duty cars.