Oslo, Norway, 9 January 2024: Reference is made to the stock exchange
announcements published by Norsk Titanium AS (the "Company") on 14 December 2023
and 8 January 2024 regarding a proposed partially underwritten rights issue of
shares with preferential rights for existing shareholders in the Company (the
"Rights Issue")

The extraordinary general meeting of the Company has today, on 9 January 2024,
approved all items as proposed by the Board of Directors including the Rights
Issue and the issuance of warrants. The minutes from the annual general meeting
are enclosed hereto and will also be available on the Company's website
(www.norsktitanium.com), in the Investors section.

The full terms and conditions for the Rights Issue will be included in a
prospectus, which will be published prior to the commencement of the
subscription period for the Rights Issue. The subscription period is expected to
take place from 6 February 2024 09:00 hours (CET) to 20 February 2024 at 16:30
(CET).

Carnegie AS is acting as manager for the Rights Issue. Advokatfirmaet Selmer AS
is acting as legal counsel to the Company, while Advokatfirmaet Wiersholm AS is
acting as legal advisor to the Manager.

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

About Norsk Titanium AS: 

Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.

For the latest news, go to www.norsktitanium.com or follow us on LinkedIn.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.