Ensurge Micropower ASA – Contemplated private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN 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. 

Oslo, Norway, 6 November 2025

Ensurge Micropower ASA ("Ensurge" or the "Company") has engaged Arctic Securities AS and DNB Carnegie, a part of DNB Bank ASA, (the "Managers") to advise on and effect a contemplated private placement of new shares in the Company (the "Offer Shares") to raise gross proceeds of up to NOK 100 million (the "Private Placement"). 

The Private Placement will be divided into two tranches with one tranche consisting of 83,678,032 Offer Shares, equal to the number of shares that may be issued pursuant to the 10% authorization to issue new shares (the “Board Authorization”) granted to the Company’s board of directors (the “Board”) by the Company’s extraordinary general meeting on 8 August 2025 (“Tranche 1”), and a second tranche with the number of Offer Shares which results in a total transaction that equals the final offer size (“Tranche 2”), which will be issued by an extraordinary general meeting to be summoned shortly after notification of allocation (conditional allocation for Tranche 2) in the Private Placement, and held on or about 1 December 2025 (the "EGM"). 

The price per Offer Share in the Private Placement to be denominated in NOK (the "Offer Price") and the final number of Offer Shares to be issued will be determined by the Board, in consultation with the Managers, on the basis of an accelerated bookbuilding process commencing after the close of trading on Euronext Oslo Børs today.

The net proceeds from the Private Placement will be used (i) to expand the team in order to develop the product in partnership with paying customers, drive manufacturing and operational robustness for high-quality product launch into high-volume applications, and build external relationships with paying customers and other third parties, (ii) to upgrade certain capital equipment, including material handling and manufacturing processes, for high-quality repeatable manufacturing, and (iii) for general corporate purpose to attract higher volume external suppliers and maintain negotiating leverage vis-à-vis external third parties.