Ensurge Micropower ASA

Private Placement of NOK 58,367,221 successfully placed - Seite 2

Settlement of the Offer Shares is expected to take place on or about 23 February 2024 on a delivery versus payment basis by delivery of existing and unencumbered shares in the Company that are already listed on Oslo Børs, pursuant to a share lending agreement (the "Share Lending Agreement") entered into between the Company, Robert Keith and the Manager. The Offer Shares issued pursuant to the Authorisation will be used to settle the share borrowing from Robert Keith and will be tradable after the share capital increase relating to the Offer Shares has been registered by the NRBE, which is expected on or about 26 February 2024.

Equal treatment considerations
The Board has considered the contemplated Private Placement in light of the equal treatment obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular no. 2/2014 and deems that the Private Placement is in compliance with these requirements. The Board holds the view that it is in the common interest of the Company and its shareholders to raise equity through a private placement, in view of the current market conditions and the growth opportunities currently available to the Company. A private placement has enabled the Company to raise capital in an efficient manner and the Private Placement was structured to ensure that a market-based subscription price was achieved. Taking into consideration that the Subscription Price represents a limited discount compared to the current trading price and a premium to the trading price of the Company over the past months, the Board has concluded to not carry out a subsequent offering.

About Ensurge Micropower
Ensurge is Energizing Innovation(TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.