The exercise price for the warrants of series (2020

1) TO1 B in Terranet has been determined to SEK 0.72 and the subscription period starts today, October 12, 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

Terranet Holding AB (“Terranet” or the “Company”) completed a rights issue of units during the second quarter of 2020. One (1) unit consisted of two (2) newly issued B shares, one (1) warrant of series TO1 B, one (1) warrants of series TO2 B, and one (1) warrant of series TO3 B. Each warrant gives the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO1 B is to be determined to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Growth Market Premier during the measurement period, from September 28, 2020, to October 9, 2020, however not lower than the quota value in the Company’s share and not higher than SEK 0.80. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 1.03, therefore, the exercise price for the warrants of series TO1 B is set to SEK 0.72. The subscription period for warrants of series TO1 B runs as of October 12, 2020 up to and including October 23, 2020.

If all the warrants of series TO1 B are exercised, the Company will receive approximately SEK 36.4 million before issuing costs. For the warrants not to expire without value, it is required that the holder actively subscribes for new shares no later than October 23, 2020 or sell the warrants no later than October 16, 2020. Please observe that certain nominees might close their application earlier than October 23, 2020.

Full terms and conditions regarding the warrants and information about the Company is available in the prospectus which was approved by the Swedish Financial Supervisory Authority (the "SFSA") and published by the Company on 22 May 2020. The prospectus is available on the Company's website https://terranet.se/ as well as the SFSA's website www.fi.se.

Summarized terms for the warrants of series TO1 B.

Subscription period: October 12 – October 23, 2020.

Issue size: 50,502,653 warrants of series TO1 B, which entitles to subscription of 50,502,653 B shares. If all the warrants are exercised, The Company will receive approximately SEK 36.4 million before issue cost.