OSLO, NORWAY – 16 DECEMBER 2024 – Zwipe AS (“Zwipe” or the “Company” today announces the outcome of exercised warrants of series TO1, issued in connection with the Company’s rights issue conducted in December 2023. The exercise period ended on 13 December 2024 and a total of 24,116,078 warrants of series TO1 were exercised for subscription of 12,058,039 new shares, corresponding to a subscription rate of approximately 37 percent of the total number of outstanding warrants of series TO1. The subscription price per share was NOK 0.11. Thus, the Company receives approximately NOK 1.3 million in gross proceeds through the exercise of warrants of series TO1.

Number of shares, share capital and dilution

Through the exercise of warrants of series TO1, the number of shares in Zwipe will increase by 12,058,039 shares, from 99,303,344 to 111,361,383 shares. The share capital will increase by NOK 1,205,803.90, from NOK 9,930,334.40 to NOK 11,136,138.30. For existing shareholders who did not exercise any warrants of series TO1, the dilution effect amounts to approximately 11 percent.

Advisers

Zwipe has engaged Bergs Securities AB and Advokatfirmaet Schjødt AS as financial and legal advisors respectively in connection with the exercise of warrants of series TO1.

For further information contact:

Robert Puskaric, CEO of Zwipe

E-mail: ir@zwipe.com

About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.

To learn more, visit http://www.zwipe.com