Induct AS – Commencement of the subscription period for the partially underwritten rights issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT

Reference is made to the stock exchange announcement published by Induct AS (the "Company") on 6 July 2026 regarding the approval by the extraordinary meeting of the Company of a partially underwritten rights issue of up to 22,222,222 new shares (the "Offer Shares") in the Company, each with a nominal value of NOK 0.10, at a subscription price of NOK 0.90 per share (the "Subscription Price"), raising gross proceeds of up to NOK 20 million.

Reference is further made to the stock exchange announcement published by the Company on 22 July 2026 regarding the publication of a national prospectus prepared in connection with the Rights Issue (the "Prospectus") as registered in the Norwegian Register of Business Enterprises ("NRBE"). The prospectus is, subject to local applicable securities laws, available at the website of Norne Securities AS on www.norne.no/Induct.

The subscription period for the Rights Issue will commence today, 27 July 2026 at 09:00 hours (CEST) and expires on 10 August 2026 at 16:30 hours (CEST) (the "Subscription Period"). The Subscription Rights (as defined below) will be tradable on Euronext Growth Oslo under the ticker code (INDTT) from today, 27 July 2026 at 09:00 hours (CEST) until 4 August 2026 at 16:30 hours (CEST).

Allocation of Subscription Rights:

Shareholders of the Company as of 6 July 2026 (and being registered as such in Euronext Securities Oslo, the Norwegian Central Securities Depository (the "VPS") as of 8 July 2026 pursuant to the two days' settlement procedure (the "Record Date", and such shareholders, the "Existing Shareholders"), have been granted tradable subscription rights (the "Subscription Rights") in the Rights Issue.

Each Existing Shareholder has been granted 0.7097 Subscription Rights for each existing share in the Company registered as held by the Existing Shareholder 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) new share at the Subscription Price. Oversubscription with subscription rights and subscriptions by the Underwriters (as defined below) will be allowed. Other subscriptions without Subscription Rights will not be permitted.

The allocation to, or acquisition of Subscription Rights by, and the subscription of Offer Shares by, persons resident in, or who are citizens of countries other than Norway, may be affected by the laws of the relevant jurisdiction. For a further description of such restrictions, reference is made to Section 5.21 "Selling and Transfer Restrictions" of the Prospectus.

The Subscription Rights:

The Subscription Rights will be tradable and listed on Euronext Growth Oslo from 09:00 hours (CEST) on 27 July 2026 to 16:30 hours (CEST) on 4 August 2026 under the ticker code "INDTT". The Subscription Rights will hence only be tradable during a part of the Subscription Period.

Subscription Rights that are (i) not sold before 16:30 hours (CEST) on 4 August 2026 or (ii) not used to subscribe for shares in the Rights Issue prior to expiry of the Subscription Period on 10 August 2026 at 16:30 hours (CEST) will lapse without compensation to the holder, and thus be without value.

The Subscription Rights are expected to have an economic value if the Company's shares trade above the Subscription Price during the Subscription Period. Existing Shareholders who do not exercise their Subscription Rights will experience a dilution of their shareholding in the Company. See Section 5.10 "Subscription Rights" of the Prospectus for further information about the Subscription Rights.

Underwriting:

Pursuant to, and subject to the terms and conditions of the underwriting agreements entered into between the Company and the underwriters (the "Underwriters") (the "Underwriting Agreements"), the Underwriters have undertaken on a pro-rata basis (not jointly) to underwrite an aggregate subscription amount in the Rights Issue of NOK 15 million (the "Total Underwriting Obligation"). The Underwriting Agreement sets out an obligation to subscribe any shares, up to the Total Underwriting Obligation, that are not otherwise subscribed to in the Rights Issue.

In addition to the underwriting, Jarah Invest AS, Solvik Holding AS, HMH Invest AS and HEA Invest AS, has pre-committed to subscribing shares in the Rights Issue for NOK 1.5m, NOK 0.30m, NOK 1.0m and NOK 0.26m, respectively (any shares allocated for pre-commitments will reduce the respective Underwriter's underwriting obligation). Accordingly, 20% percent of the Rights Issue is covered by pre-committed subscriptions. Any New Shares subscribed in the Rights Issue by an Underwriter will reduce the Underwriter's underwriting commitment.

Each of the Underwriters are entitled to an underwriting fee of 14% of the underwriting obligation received as new shares in the Company issued at the same Subscription Price as in the Rights Issue, which is payable upon completion of the Rights Issue (i.e. upon registration of the share capital increase pertaining to the Rights Issue with the NRBE).

The Underwriters include the following existing shareholders:

• Jarah Invest AS, which have committed to underwrite for NOK 3m;

• Solvik Holding AS, which have committed to underwrite for NOK 0.3m;

• HMH Invest AS, which have committed to underwrite for NOK 3.0m; and • HEA Invest AS, which have committed to underwrite for NOK 0.26m

In addition certain other investors have underwritten an additional NOK 8.5m of the Rights issue, for a total of NOK 15 million.

NOK 3 million of the Total Underwriting Obligation (the "Prefunded Amount") will be prefunded by certain Underwriters pursuant to a prefunding agreement entered into between the Company, such Underwriters and the Manager (the "Prefunding Agreement").

For more information regarding the underwriting, reference is made to section 5.19 of the Prospectus.

Allocation:

The allocation principles for the Offer Shares in the Rights Issue are as set out below:

a) Firstly, allocation of offer shares to subscribers will be made in accordance with granted and acquired subscription rights which have been validly exercised during the subscription period. Each subscription right will give the right to subscribe and be allocated one offer share in the Rights Issue.

b) Secondly, if not all subscription rights are validly exercised during the subscription period and there are remaining unallocated offer shares following the allocation pursuant to paragraph (i) above, offer shares will be allocated to underwriters who have subscribed for offer shares in excess of their respective underwriting obligation. Allocation will be sought made on a pro rata basis based on such underwriters’ oversubscription.

c) Thirdly, offer shares not allocated pursuant to (i) to (ii) above, will be allocated to subscribers who have exercised their subscription rights and over-subscribed, on a pro rata basis based on the number of subscription rights exercised by each subscriber. To the extent that pro rata allocation is not possible, the Company will determine the allocation by drawing of lots.

d) Finally, offer shares not allocated pursuant to (i) to (iii) above, will be allocated to and subscribed by the underwriters pursuant to, and in accordance with, each underwriter's underwriting obligation pursuant to the terms and conditions of the relevant underwriting agreements.

ADVISORS

Norne Securities AS has been engaged as manager and bookrunner for the Rights Issue. Advokatfirmaet Selmer AS is acting as legal advisor to the Company.

For further information, please contact:

Synnøve Jacobsen, CEO

sj@induct.net

+47 99 41 54 47

This information is published in accordance with the requirements of the Continuing Obligations.

IMPORTANT NOTICE

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States or any other jurisdiction. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States.

Any offering of the securities referred to in this announcement will be made by means of the Prospectus.

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 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any EEA Member State (the "Prospectus Regulation"). Investors 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 website of the Manager. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are 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) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement 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 document is not for publication or distribution in, directly or indirectly, Australia, Canada, Japan, the United States or any other jurisdiction in which such release, publication or distribution would be unlawful, and it does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States or to publications with a general circulation in the United States of America.

The Manager is acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any transaction or arrangement referred to in this announcement.

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 "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" 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 believe 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. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. This announcement is made by and is the responsibility of the Company.

Neither the Manager nor any of their affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. 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 any of their respective affiliates accepts any liability arising from the use of this announcement.