NKT A/S to issue up to 4,951,106 new shares in a directed issue and private placement

Company Announcement

13 May 2020

Announcement No. 9

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

NKT A/S to issue up to 4,951,106 new shares in a directed issue and private placement

The Board of Directors of NKT A/S (NKT or the Company) has resolved to launch an offering of new shares at market price (the Offering). The Offering will be completed through an accelerated book-building process and will consist of up to 4,951,106 new shares (the New Shares), representing up to 18.15 % of NKT's currently registered share capital in a private placement directed at institutional and professional investors in Denmark and certain other jurisdictions.

Background for the Offering

On 13 May 2020, NKT announced its plan to strengthen its capital base, cf. Company Announcement no. 8. The Offering is the first step in the execution of such capital plan and the net proceeds from the Offering will be used to strengthen NKT's capital base as set out in said announcement.

The Offering

The Offering will be made pursuant to applicable exemptions from the obligation to publish a prospectus as a directed issue and private placement to eligible institutional and professional investors in Denmark and in certain other jurisdictions at market price and without pre-emption rights for NKT’s existing shareholders. The Offering is not underwritten.

The books for the Offering will open with immediate effect and can close at any time. The offer price will be determined after the close of the accelerated book-building process. The result of the Offering, the offer price and allocation are expected to be announced as soon as practicable thereafter.

NKT, the Board of Directors and the Executive Management have agreed to a 180-day