Ensurge Micropower ASA: Private Placement of NOK 58,367,221 successfully placed

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.Reference is made to the stock exchange announcement published earlier today on 20 February 2024 by Ensurge Micropower ASA ("Ensurge" or the "Company") regarding a contemplated private placement (the "Private Placement") of new shares in the Company (the "Offer Shares"), where Skandinaviska Enskilda Banken AB (publ) has acted as financial advisor and bookrunner (the "Manager").Ensurge is pleased to announce that the Private Placement has been successfully placed through an allocation of 233,468,885 Offer Shares at a subscription price of NOK 0.25 per Offer Share (the "Subscription Price") for total gross proceeds of NOK 58,367,221.25. The final number of Offer Shares and the Subscription Price was determined by the board of directors of the Company (the "Board") following an accelerated bookbuilding process.The net proceeds from the Private Placement will be used fund the Companys operations, with focus on Go-To- Market activities and production ramp up. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The companys state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.AdvisorSkandinaviska Enskilda Banken AB (publ) is acting as financial advisors and bookrunner in connection with the private placement. 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.