Oslo, Norway, 19 February 2024: Reference is made to the stock exchange
announcement published by Norsk Titanium AS (the "Company") on 6 February 2024
regarding the receipt of subscription rights by certain primary insiders and
close associates of primary insiders of the Company in connection with the
commencement of the subscription period for the partially underwritten rights
issue (the "Rights Issue"). Each subscription right gives the right to subscribe
for and be allocated one offer share in the Rights Issue.

Today, Norsk Titanium Cayman Ltd and Scatec Innovation AS, both close associates
to primary insiders of the Company, have exercised 14,659,698 and 40,620,046
subscription rights, respectively. Furthermore, White Crystals Ltd., the
Company's major shareholder, has exercised 65,855,883 subscription rights today.


Norsk Titanium Cayman Ltd. will settle 3,534,591 of the subscription rights by
cash consideration, whereas 11,125,107 subscription rights will be settled by a
partial conversion of the bridge loan provided by Norsk Titanium Cayman Ltd to
the Company on 30 August 2023, as further described in the stock exchange
announcements on 30 August 2023 and 28 September 2023. 

Both Scatec Innovation AS and White Crystals Ltd. will settle their subscription
rights by cash consideration. 
Norsk Titanium Cayman Ltd. is a company closely associated with Shan E-Abbas
Ashary and Bart Van Aalst, who are both board members of Norsk Titanium Cayman
Ltd. and board members of the Company. 

Scatec Innovation AS is a company closely associated with John Andersen, who is
the chairman of the Company's board of directors and also the CEO of Scatec
Innovation AS. 

Please see the attached notifications of trade for information regarding the
primary insiders' exercise of subscription rights in the Rights Issue.

This information is subject to the disclosure requirements pursuant to article
19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian
Securities Trading Act.

For more information, please contact: 

John Andersen, Chairman of Norsk Titanium AS 
Email: John.Andersen@scatec.no 
Tel: +47 90 17 40 80 

Carl Johnson, President & CEO Norsk Titanium AS
Email: Carl.Johnson@norsktitanium.com
Tel: +1 518 324 4010

Ashar Ashary, CFO Norsk Titanium AS 
Email: Ashar.Ashary@norsktitanium.com 
Tel: +1 518 556 8966