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

Tønsberg, 12 June 2025

Reference is made to the stock exchange announcement by poLight ASA ("poLight"
or the "Company") published on 15 April 2025 regarding the strategic investment
agreement entered into with Q Technology (Group) Company Limited ("Q Tech"),
pursuant to which the Company agreed to issue 63,743,112 new shares (the
"Private Placement Shares") to Q Tech at a subscription price of NOK 2.69 per
share (the "Private Placement") and a potential subsequent offering of up to
19,122,933 new shares (the "Subsequent Offering").

Reference is further made to the stock exchange announcement on 21 May 2025
regarding the Company's annual general meeting resolving to, inter alia, (i)
approve the share capital increase pertaining to the Private Placement, and (ii)
grant the board of directors an authorisation to increase the Company's share
capital by up to NOK 19,122,933, in connection with the Subsequent Offering.

In accordance with the board authorisation, the board of directors has today
resolved to increase the share capital by a minimum of NOK 0.04 and a maximum of
NOK 764,917.32, through the issuance of a minimum of one and a maximum of
19,122,933 new shares, each with a nominal value of NOK 0.04, (the "Offer
Shares") with a subscription price of NOK 2.69 per Offer Share (the "Offer
Price").

Thus, the board of directors has resolved to carry out the Subsequent Offering.
The resolution is conditional upon the Norwegian Financial Supervisory
Authority's (the "NFSA") approval of a prospectus (the "Prospectus"), which the
Company will publish in connection with (i) the listing on Oslo Stock Exchange
of 63,743,112 shares issued in connection with the Private Placement, and (ii)
the Subsequent Offering (including the listing of the Offer Shares on the Oslo
Stock Exchange). It is expected that the Prospectus will be approved by the NFSA
on or about 17 June 2025, passported to Denmark by 18 June 2025, and that the
subscription period in the Subsequent Offering will commence on 19 June 2025 at
09:00 hours (CEST) and expire on 27 June 2025 at 16:30 hours (CEST).

If the Prospectus is not approved by the NFSA in time for the subscription
period to commence on 19 June 2025, the subscription period shall commence on
the second trading day on the Oslo Stock Exchange after such approval has been
obtained, and last for seven trading days and end at 16:30 hours (CEST) on the
seventh trading day.

The Subsequent Offering will be directed towards shareholders of the Company as
of 15 April 2025 (being registered as such in the Norwegian Central Securities
Depository (the "ES-OSL") on 22 April 2025 pursuant to the ES-OSL's standard two
days' settlement procedure (the "Record Date")), who are not resident in a
jurisdiction where such offering would be unlawful, or, for jurisdictions other
than Norway and Denmark, would require any prospectus filing, registration
document or similar document or action (such eligible shareholders jointly, the
"Eligible Shareholders").

Each Eligible Shareholder will be granted 0.147556 non-tradeable Subscription
Right for every existing share registered as held by such Eligible Shareholder
as of the Record Date, rounded down to the nearest whole Subscription Right.
Each Subscription Right will, subject to applicable law, give the right to
subscribe for, and be allocated, one (1) Offer Share in the Subsequent Offering
at the Offer Price. Over-subscription by Eligible Shareholders will be
permitted. Subscription without Subscription Rights will not be permitted.

Allocation of the Offer Shares in the Subsequent Offering is expected to take
place on or about 30 June 2025, and the Offer Shares are expected to be
delivered on or about 9 July 2025. Further information regarding the Subsequent
Offering will be set out in the Prospectus.

Pareto Securities AS is acting as the manager in the Subsequent Offering (the
"Manager"). Advokatfirmaet Thommessen AS is acting as legal advisor to poLight
in relation to the Subsequent Offering.

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

For further information, please contact:

Dr Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

Joakim Hines Bredahl, CFO, poLight ASA: +47 97 52 17 31

About poLight ASA

poLight ASA (listed on the Oslo Stock Exchange: PLT) offers a patented,
proprietary tunable optics technology, starting with its first product, TLens®
which replicates "the human eye" experience in autofocus cameras used in devices
such as smartphones, wearables, barcode scanners, machine vision systems and
various medical equipment. poLight's TLens® enables better system performance
and new user experiences due to benefits such as extremely fast focus, small
footprint, no magnetic interference, low power consumption and constant field of
view. poLight is based in Tønsberg, Norway, with employees in Finland, France,
UK, US, China, Taiwan, Japan, and the Philippines. For more information, please
visit https://www.polight.com

- IMPORTANT INFORMATION -

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy,
fairness or completeness. Neither the Manager, nor or any of its affiliates or
any of their respective directors, officers, employees, advisors or agents
accepts any responsibility or liability whatsoever for, or makes any
representation or warranty, express or implied, as to the truth, accuracy or
completeness of the information in this announcement (or whether any information
has been omitted from the announcement) or any other information relating to the
Company, its subsidiaries or associated companies, whether written, oral or in a
visual or electronic form, and howsoever transmitted or made available, or for
any loss howsoever arising from any use of this announcement or its contents or
otherwise arising in connection therewith. This announcement has been prepared
by and is the sole responsibility of poLight.

Neither this announcement nor the information contained herein is for
publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from Australia, Canada, Japan, Hong Kong, South Africa
or the United States (including its territories and possessions, any State of
the United States and the District of Columbia) or any other jurisdiction where
to do so would constitute a violation of the relevant laws of such jurisdiction.
The publication, distribution or release of this announcement may be restricted
by law in certain jurisdictions and persons into whose possession any document
or other information referred to herein should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer for sale of securities in the United States.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act, and may not be offered or sold in the
United States absent registration with the U.S. Securities and Exchange
Commission or an exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and in accordance with
applicable U.S. state securities laws. The Company does not intend to register
any securities referred to herein in the United States or to conduct a public
offering of securities in the United States.

This announcement is an advertisement and is not a prospectus for the purposes
of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14
June 2017 (the "EU Prospectus Regulation") (together with any applicable
implementing measures in any Member State).

Any offering of the securities referred to in this announcement will be made by
means of a Prospectus which will be prepared and which is subject to the
approval by the Norwegian Financial Supervisory Authority. Investors in the
Subsequent Offering should not subscribe for any securities referred to in this
announcement except on the basis of information contained in the Prospectus.
Copies of the Prospectus will, following publication, be available from the
Company's registered office and, subject to certain exceptions, on the websites
of the Manager.

In any EEA Member State other than Norway and Denmark, this communication is
only addressed to and is only directed at qualified investors in that Member
State within the meaning of the EU Prospectus Regulation, i.e. only to investors
who can receive the offer without an approved prospectus in such EEA Member
State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are "qualified investors" within the meaning of the
EU Prospectus Regulation as it forms part of English law by virtue of the
European Union (Withdrawal) Act 2018 and that are (i) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net
worth entities, and other persons to whom this announcement may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as "relevant persons"). This communication
must not be acted on or relied on by persons who are not relevant persons. Any
investment or investment activity to which this communication relates is
available only to relevant persons and will be engaged in only with relevant
persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

This announcement is made by, and is the responsibility of, the Company. The
Manager and its affiliates are acting exclusively for the Company and no-one
else in connection with the transactions described in this announcement. They
will not regard any other person as their respective clients in relation to the
transactions described in this announcement and will not be responsible to
anyone other than the Company, for providing the protections afforded to their
respective clients, nor for providing advice in relation to the transactions
described in this announcement, the contents of this announcement or any
transaction, arrangement or other matter referred to herein.

In connection with the transactions described in this announcement, the Manager
and any of its affiliates, acting as investors for their own accounts, may
subscribe for or purchase securities and in that capacity may retain, purchase,
sell, offer to sell or otherwise deal for their own accounts in such securities
of the Company or related investments in connection with the transactions
described in this announcement or otherwise. Accordingly, references in the
Prospectus to the securities being issued, offered, subscribed, acquired, placed
or otherwise dealt in should be read as including any issue or offer to, or
subscription, acquisition, placing or dealing by, the Manager and any of its
affiliates acting as investors for their own accounts. The Manager does not
intend to disclose the extent of any such investment or transactions otherwise
than in accordance with any legal or regulatory obligations to do so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "aim", "expect",
"anticipate", "intend", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies, and other important
factors which are difficult or impossible to predict and are beyond its control.
Such risks, uncertainties, contingencies, and other important factors could
cause actual events to differ materially from the expectations expressed or
implied in this release by such forward-looking statements. Forward-looking
statements speak only as of the date they are made and cannot be relied upon as
a guide to future performance. The Company, the Manager and their respective
affiliates expressly disclaims any obligation or undertaking to update, review
or revise any forward-looking statement contained in this announcement whether
as a result of new information, future developments or otherwise. The
information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.