IDEX Biometrics ASA

Private placement of NOK 125 million successfully placed

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IDEX Biometrics ASA: Private placement of NOK 125 million successfully placed

Oslo, 24 May 2023. Reference is made to the press release from IDEX Biometrics ASA ("IDEX" or the "Company") published earlier today, 24 May 2023, regarding a contemplated private placement to raise gross proceeds of approximately NOK 100-150 million (the "Private Placement").

The Private Placement has been successfully placed and will raise gross proceeds to the Company of NOK 125 million, through the allocation of 147,058,824 new shares (the "Offer Shares") at a price of NOK 0.85 per Offer Share (the "Offer Price").

The Company intends to use the net proceeds from the Private Placement to accelerate the Company’s product commercialization and for working capital and general corporate purposes.

The Private Placement is divided into two tranches. Tranche 1 consists of 116,897,492 Offer Shares (representing approximately 10% of the outstanding shares in the Company) ("Tranche 1" and the "Tranche 1 Offer Shares"). Tranche 2 consists of 30,161,332 Offer Shares ("Tranche 2" and the "Tranche 2 Offer Shares"). Completion of Tranche 2 will be subject to approval by an extraordinary general meeting of the Company expected to be held on or about 16 June 2023 (the "EGM").

Notification of allocation and settlement instructions for Tranche 1 and Tranche 2 (conditional allocation for Tranche 2) will be communicated to investors on 25 May 2023.

Both Tranche 1 and Tranche 2 will be settled with existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange, pursuant to a share lending agreement entered into between the Company, the Managers (as defined below) and certain existing shareholders (the "Share Lending Agreement"). The share loan in Tranche 1 will be settled with 116,897,492 new shares in the Company to be resolved issued by the Company's board of directors (the "Board") pursuant to an authorisation granted by the Company’s annual general meeting held on 23 May 2023. The share loan in Tranche 2 will be settled with new shares in the Company expected to be issued following, and subject to, approval by the EGM. The new shares to be redelivered to the lenders under the Share Lending Agreement will, to the extent required, be delivered on a separate and non-tradable ISIN, pending publication by the Company of a listing prospectus approved by the Norwegian Financial Supervisory Authority.