THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND,
SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS
PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE
ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.

OSLO, NORWAY - 14 DECEMBER 2023 - Reference is made to the stock exchange
announcements published by Zwipe AS (the "Company") on 13 December 2023,
regarding the end of the subscription period and the preliminary results of a
rights issue of units, each consisting of one new share in the Company, each
with a nominal value of NOK 0.10 (the "Offer Shares") and one warrant of series
T01 (the "Warrants"), with preferential rights for existing shareholders per
unit (the "Units"), with preferential rights for existing shareholders raising
gross proceeds of approximately NOK 35.0 million (the "Rights Issue").

The Company received subscriptions for a total of 24,194,533 Units,
corresponding to approx. 41.4% of the Units, during the subscription period for
the Rights Issue.

The allocation of the Offer Shares and Warrants in the Rights Issue has now been
completed on the basis of the allocation criteria resolved by the extraordinary
general meeting of the Company in connection with the approval of the Rights
Issue, and as set out in the prospectus prepared for the Rights Issue dated 24
November 2023 (the "Prospectus").

The board of directors of the Company has allocated a total of 40,889,612 Offer
Shares and 40,889,612 Warrants in the Rights Issue, of which 24,194,533 Offer
Shares and 24,194,533 Warrants were allocated based on subscriptions received in
the subscription period and the remaining 16,695,079 Offer Shares and 16,695,079
Warrants were allocated to the so-called bottom guarantors for the Rights Issue.

Furthermore, the Company had received a so-called top guarantee commitment of an
amount corresponding to approximately NOK 10.5 million, which was to be paid to
the Company by the top guarantor subscribing for a convertible loan in the
Company (the "Convertible Loan"). The total subscription price for the
Convertible Loan would be equivalent to the total subscription price of the
Rights Issue, minus the subscription price of the Units subscribed by the
existing shareholders of the Company and the Units subscribed by the bottom
guarantors. However, the subscription price would not be less than NOK 5.0
million.

Based on the subscription rate of the Rights Issue, the size of the Convertible
Loan was determined to be NOK 10,514,472. Please see the stock exchange
announcement pertaining to the Convertible Loan for more information.

Notifications of allocated Offer Shares and Warrants and the corresponding
subscription amount to be paid by each subscriber not yet having paid for their
subscriptions are expected to be distributed tomorrow, on 15 December 2023.
Payment for the allocated Offer Shares falls due on 20 December 2023 in
accordance with the payment procedures described in the Prospectus.

The Offer Shares and Warrants may not be transferred or traded before all Offer
Shares have been fully paid for and the share capital increase pertaining to the
Rights Issue has been registered with the Norwegian Register of Business
Enterprises (Nw. Foretaksregisteret). Subject to timely payment of the entire
subscription amount in the Rights Issue, the Company expects that the share
capital increase pertaining to the Rights Issue will be registered with the
Norwegian Register of Business Enterprises on or about 22 December 2023. Under
the same conditions, allocated Offer Shares and Warrants are expected to be
delivered on or about 27 December 2023 through the facilities of VPS and on or
about [29] December 2023 through the facilities of Euroclear. Trading in the
Offer Shares and Warrants on Euronext Growth Oslo is expected to commence on or
about 28 December 2023 and on Nasdaq First North Growth Market on or about 29
December 2023.

####

This is information that Zwipe AS is obligated to make public pursuant to the
continuing obligations of companies admitted to trading on Euronext Growth Oslo
(Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth
Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
The information was submitted for publication, through the agency of the contact
person set out below, at 19:00 on 14 December 2023.

####

For further information contact:

Danielle Glenn, CFO and Head of IR, Zwipe

E-mail: ir@zwipe.com

####

About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence. To
learn more, visit http://www.zwipe.com.

####

IMPORTANT NOTICE

Publication, release or distribution of this press release may in certain
jurisdictions be subject to legal restrictions and persons in the jurisdictions
where this press release has been made public or distributed should be informed
of and follow such legal restrictions. The recipient of this press release is
responsible for using this press release and the information herein in
accordance with applicable rules in each jurisdiction. This press release does
not constitute an offer or solicitation to buy or subscribe for any securities
in Zwipe in any jurisdiction, either from Zwipe or from anyone else.

This press release is not a prospectus according to the definition in Regulation
(EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any
regulatory authority in any jurisdiction. A prospectus regarding the Rights
Issue described in this press release has been registered with the Swedish
Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available
at, inter alia, Zwipe AS' website.

This press release does not constitute an offer or solicitation to buy or
subscribe for securities in the United States. The securities mentioned herein
may not be sold in the United States without registration, or without an
exemption from registration, under the U.S. Securities Act from 1933
("Securities Act"), and may not be offered or sold within the United States
without being registered, covered by an exemption from, or part of a transaction
that is not subject to the registration requirements according to the Securities
Act. There is no intention to register any securities mentioned herein in the
United States or to issue a public offering of such securities in the United
States. The information in this press release may not be released, published,
copied, reproduced or distributed, directly or indirectly, wholly or in part, in
or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore,
South Africa, the United States or any other jurisdiction where the release,
publication or distribution of this information would violate current rules or
where such an action is subject to legal restrictions or would require
additional registration or other measures beyond those that follow from Swedish
and Norwegian law. Actions in contravention of this instruction may constitute a
violation of applicable securities legislation.

Forward-looking statements

This press release contains forward-looking statements related to the Company's
intentions, estimates or expectations with regard to the Company's future
results, financial position, liquidity, development, outlook, estimated growth,
strategies and opportunities as well as the markets in which the Company is
active. Forward-looking statements are statements that do not refer to
historical facts and can be identified by the use of terms such as "believes,"
"expects," "anticipates," "intends," "estimates," "will," "may," "implies,"
"should," "could" and, in each case, their negative, or comparable terminology.
The forward-looking statements in this press release are based on various
assumptions, which in several cases are based on further assumptions. Although
the Company believes that the assumptions reflected in these forward-looking
statements are reasonable, there is no guarantee that they will occur or that
they are correct. Since these assumptions are based on assumptions or estimates
and involve risks and uncertainties, actual results or outcomes, for many
different reasons, may differ materially from those what is stated in the
forward-looking statements. Due to such risks, uncertainties, eventualities and
other significant factors, actual events may differ materially from the
expectations that expressly or implicitly are contained in this press release
through the forward-looking statements. The Company does not guarantee that the
assumptions which serve as a basis for the forward-looking statements in this
press release are correct, and each reader of the press release should not rely
on the forward-looking statements in this press release. The information,
opinions and forward-looking statements that expressly or implicitly are stated
herein are provided only as of the date of this press release and may change.
Neither the Company nor any other party will review, update, confirm or publicly
announce any revision of any forward-looking statement to reflect events that
occur or circumstances that arise with respect to the contents of this press
release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First
North Growth Market's rules for issuers.