Ensurge Micropower ASA - Cancellation of Anti-Dilutive Subscription Rights to Employees and Directors

Oslo, 28 October 2021

Reference is made to the announcement by Ensurge Micropower ASA ("Ensurge" or the "Company") on 12 May 2021 regarding the issuance of a total of 54,334,574 incentive subscription rights to employees in the Ensurge group and 13,583,644 incentive subscription rights to members of the board of directors (the "Anti-dilutive Grants"). Further reference is made to the announcement by the Company on 3 June 2021 regarding the approval of such issuance by the shareholders on the Annual General Meeting held on 3 June 2021 (the "AGM").

As announced by the Company on 12 May 2021, the Anti-dilutive Grants were calculated assuming 100% exercise of Warrants B and C, which expired on 20 August 2021 and 30 June 2021, respectively. To the extent Warrants B and C were not exercised within their respective expiration dates, a proportionate number of the Anti-dilutive Grants were to be cancelled and forfeited in accordance with the terms and conditions set out in Section 9 of the Notice of the AGM.

In accordance with such terms and conditions, a total of 3,426,910 incentive subscription rights held by employees in the Ensurge group and 856,728 incentive subscription rights held by members of the board of directors are cancelled and forfeited.

Following such cancellation and forfeiture there are a total of 193,865,731 subscription rights issued and outstanding in Ensurge.

Contact

Ståle Bjørnstad - Investor Relations

E-mail:

Phone:

Kevin Barber - Chief Executive Officer

E-mail:

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