NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Oslo, 21 February 2023: Reference is made to the stock exchange release from
Zaptec ASA ("Zaptec" or the "Company") published earlier today regarding a
contemplated private placement. The Company hereby announces that it has raised
approximately NOK 300 million in gross proceeds through a private placement of
11,111,112 new shares (the "New Shares") at a price per share of NOK 27.00 (the
"Private Placement"). The Private Placement took place through an accelerated
bookbuilding process managed by ABG Sundal Collier ASA after close of market
today.
 
Completion of the Private Placement and the issuance of the New Shares were
resolved by the Board of Directors of the Company (the "Board") at a Board
meeting held today pursuant to an authorization to increase the share capital
granted to the Board by the Company's annual general meeting on 4 November 2022.
The Company's share capital following the Private Placement will be NOK
1,312,811.85 divided into 87,520,790 shares, each with a par value of NOK 0.015.

The net proceeds from the Private Placement will be used for general corporate
purposes and to continue Zaptec's international expansion.
 
Delivery versus payment settlement of the New Shares will be facilitated by
existing and unencumbered shares in the Company being borrowed by ABG Sundal
Collier from certain existing shareholders pursuant to a share lending agreement
between such parties and the Company. The shares allocated in the Private
Placement will thus be tradable from allocation. The Managers will settle the
share loan with new shares in the Company to be issued pursuant to the
resolution of the Board referred to above.

The Private Placement represents a deviation from the shareholders' pre-emptive
right to subscribe for the Offer Shares. The Board has considered the Private
Placement in light of the equal treatment obligations under the Norwegian Public
Limited Companies Act, the Norwegian Securities Trading Act, the rules on equal
treatment under Oslo Rule Book II for companies listed on the Oslo Stock
Exchange and the Oslo Stock Exchange's Guidelines on the rule of equal
treatment, and deems that the proposed Private Placement is in compliance with
these obligations. The Board is of the view that it will be in the common
interest of the Company and its shareholders to raise equity through a private
placement, in particularly in light of the current market conditions. By
structuring the equity raise as a private placement, the Company is expected to
raise equity efficiently and in a timely manner, with a lower discount to the
current trading price, at a lower cost and with a significantly reduced
completion risk compared to a rights issue. It has also been taken into
consideration that the Private Placement is based on a publicly announced
accelerated bookbuilding process. As the Private Placement is structured to
ensure that a market-based subscription price is achieved, it is currently not
planned to conduct a subsequent repair offering directed towards shareholders
not participating in the Private Placement.

Advokatfirmaet Thommesen AS is acting as legal advisor to the Company in
connection with the Private Placement. 


For further information, please contact: 

Peter Bardenfleth-Hansen, CEO, Zaptec ASA
Tel: +47 40 10 31 78, e-mail: pbh@zaptec.com 

Kurt Østrem, CFO, Zaptec ASA
Tel: +47 40 40 47 00, e-mail: kurt@zaptec.com

Kristian Sæther, Finance Manager & IR, Zaptec ASA
Tel: +47 90 70 85 12, e-mail: investor@zaptec.com  


About Zaptec:

Zaptec ASA is a technology company within Electric 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 Sense. The company
accelerates the electrification of the transport sector to assist European
countries in reducing CO2 emissions from light-duty cars.


Important information 

This announcement is not an offer to sell or a solicitation of any offer to buy
any securities of Zaptec ASA. The distribution of this announcement and other
information may be restricted by law in certain jurisdictions. Copies of this
announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures. Persons into whose possession this announcement
or such other information should come are required to inform themselves about
and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "US Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the US Securities Act and in accordance with applicable U.S. state securities
laws. The Company does not intend to register any part of the offering or their
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the US Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended together with any applicable
implementing measures in any Member State.
This communication is only being distributed to and is only directed at persons
in the United  Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services  and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe," "expect," "anticipate",
"intends", "estimate", "will", "may", "continue", "should" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date and are
subject to change without notice. Neither the Company nor the Managers undertake
any obligation to review, update, confirm or release publicly any revisions to
any forward-looking statements to reflect events that occur or circumstances
that arise in relation to the content of this communication.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement. 

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. 

This stock exchange announcement was published by Kurt Østrem, acting as CFO on
21 February 2023 at 20:30 CET on behalf of the Company.