Private placement of NOK 70 million successfully placed

NOTE
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.

PRIVATE PLACEMENT PLACED
Reference is made to the press release from IDEX Biometrics ASA ("IDEX" or the "Company") published earlier today, 16 September 2024, regarding a contemplated private placement of new shares to raise gross proceeds of NOK 55-65 million (the "Private Placement").

The Private Placement has been successfully placed and attracted strong interest and was significantly oversubscribed. The Private Placement will raise gross proceeds to the Company of NOK 70 million, through the issue of 466,666,666 new shares (the "Offer Shares") at a price of NOK 0.15 per Offer Share (the "Offer Price").

The net proceeds from the Private Placement will be used to fund the Company's continued commercialization efforts, necessary product development and market development expenses, working capital needs, as well as capital expenditures and other general corporate purposes.

STRUCTURE OF THE PRIVATE PLACEMENT
The Private Placement is divided into two tranches. 101,624,966 Offer Shares have been allocated in the first Tranche ("Tranche 1" and the "Tranche 1 Offer Shares") and 365,041,700 Offer Shares have been allocated in the second tranche ("Tranche 2" and the "Tranche 2 Offer Shares"). Completion of Tranche 1 will, in addition to the further conditions described below, be subject to the board of directors (the "Board") being granted a board authorization which can be used to issue the Tranche 1 Offer Shares (the "Board Authorization") by the extraordinary general meeting of the Company to be held on 23 September 2024 ("EGM I"). Completion of Tranche 2 will, in addition to the further conditions described below, be subject to approval by an extraordinary general meeting of the Company expected to be held on or about 9 October 2024 ("EGM II").

The subscribers in the Private Placement will without cost be allocated two warrants (Nw. "frittstående tegningsretter"), Warrants A and Warrants B, respectively, issued by the Company for every two Offer Shares allocated to, and paid by, them in the Private Placement (the "Warrants" and the "Warrants Issuance"). Each Warrant will give the holder a right to subscribe for one new share in the Company at a subscription price equal to the Offer Price. Warrants A may only be exercised within the first 14 days following the Company's announcement of its Q4 2024 financial report (announcement expected on 27 February 2025), and all Warrants A not exercised within such period will lapse without compensation to the holder. Warrants B may only be exercised from 31 March 2025 to 11 April 2025, and all Warrants B not exercised within such period will lapse without compensation to the holder. The Company shall use reasonable efforts to seek to ensure that the Warrants are admitted to trading on the Oslo Stock Exchange as soon as possible following their issuance, but there can be no assurance that such admittance to trading will be obtained. The Warrants will be registered in the VPS.