Correction - Ensurge Micropower ASA - Subscription Rights Exercise and Employee Share Purchase Plan

Reference is made to Ensurge Micropower ASA’s (the "Company”) announcement on 2 September 2024 regarding a subscription rights exercise and the issuance of shares under the 2024 Employee Share Purchase Plan (2024 ESPP). 

By inadvertence, the announcement contained some minor errors in the number of new shares and the share capital following the share issue under the 2024 ESPP. 

The number of new shares issued under the 2024 ESPP is 2,216,074 and, upon registration of the share capital increases associated with the exercise of incentive subscription rights and the issuance of ESPP shares in the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 311,113,173 divided into 622,226,346 shares, each having a par value of NOK 0.50. 

Ensurge Micropower ASA 2024 ESPP 

The ESPP is available on the Company's website. https://assets.milestoneinternet.com/ensurge-inc/pdf/ensurge-2024- employee-share-purchase-plan.pdf 

Any person who is an eligible participant has been offered to subscribe for shares in the Company in connection with the ESPP. The ESPP is structured around two offering periods, starting on the first day of the calendar month following each planned public disclosure on Oslo Børs of the half-yearly and fourth quarter financial results of the Company, such calendar months being September through February and March through August. During each offering period, a fixed amount (up to 20% of the employee's gross (pre-tax) base salary or, in the case of contractors, up to 20% of the service fee payable to such contractor) is withheld from the employee's net salary or from the contractor's service fee, which fixed amount must be at least a total of NOK 6,000 (or equivalent foreign currency) for each offering period. The Participant may sign up to participate in the ESPP from the date of the public disclosure of the half-yearly or fourth quarter financial results until the day before the commencement of the offering period. Unless the Participant actively withdraws from the ESPP, participation is automatically renewed for the same amount for subsequent offering periods. The board's resolution to issue new shares in connection with the ESPP is made pursuant to the authorization granted by the Company's annual general meeting on 14 May 2024 to increase the Company's share capital in connection with the ESPP. Settlement of the subscription amount is made by set-off against debt to the employees and contractors (offset). 

In accordance with Regulation (EU) 2017/1129 (the "Prospectus Regulation") Article 1 (5) h, issuance of shares in connection with the ESPP is exempt from the obligation to publish a listing prospectus. 

About Ensurge Micropower: 
Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. 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 Company's 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. 

Lars Eikeland, Chief Executive Officer E-mail: lars.eikeland@ensurge.com (mailto:lars.eikeland@ensurge.com)