Oslo, Norway, 29 February 2024: Reference is made to the stock exchange
announcement by Norsk Titanium AS (the "Company") on 21 February 2024 regarding
the final results of the partially underwritten rights issue of 229,038,787 new
shares in the Company (the "Offer Shares") raising approx. NOK 188.3 million
(equivalent to approx. USD 18 million) in gross proceeds (the "Rights Issue").
The subscribers in the Rights Issue were allocated one warrant for every two
Offer Shares allocated to them and paid by them in the Rights Issue (the
"Warrants"). The Rights Issue resulted in the issuance of 114,519,363 Warrants.

The share capital increase relating to the Rights Issue and the issuance of
Warrants are now registered with the Norwegian Register of Business Enterprises.
The Company's new registered share capital is NOK 41,329,200.16 divided into
516,615,002 shares, each with a nominal value of NOK 0.08. Each share represents
one vote in the Company's general meeting.

The Offer Shares and the Warrants are expected to be delivered to investors and
be tradable on or about 1 March 2024 and on or about 4 March 2024, respectively.
Trading in the Offer Shares on Euronext Growth Oslo with ordinary T+2 settlement
may accordingly commence now.

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

For information about the Rights Issue, please contact Carnegie AS (the
"Manager"): +47 22 00 93 40

This information is published in accordance with the requirements of the
Continuing Obligations for companies listed on Euronext Growth Oslo and section
5-12 of the Norwegian Securities Trading Act.

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 the Company on
LinkedIn.