Appear ASA – Disclosures of large shareholdings

The following Selling Shareholders have, on 4 November 2025, sold Offer Shares in the Offering which implies that their holdings have crossed a notifiable threshold:

•  Accelerator Ltd. has sold 5,191,750 Offer Shares in the Offering, and thereby reduced its holding below the notifiable 50% threshold. Following such sale, Accelerator Ltd. holds 15,575,250 shares in the Company, corresponding to 37.8% of the shares in the Company.
• Carl Walter Holst has sold 2,721,115 Offer Shares in the Offering, and thereby reduced his holding below the notifiable 5% threshold. Following such sale, Carl Walter Holst does not hold any shares in the Company.

In connection with the Offering, the Managers have elected to over-allocate 1,500,000 additional Offer Shares (the “Additional Shares“). In order to facilitate the delivery of the Additional Shares to applicants in the Offering, the Company has agreed to lend out 1,500,000 shares held in treasury to ABG Sundal Collier ASA (as Stabilisation Manager, on behalf of the Managers). This loan arrangement implies that the Company’s shareholding will be reduced to 621,205 shares during the term of the loan, which implies that the Company crosses below the notifiable 5% threshold. During the term of the loan, the Company will hold 621,205 shares in treasury, corresponding to approximately 1.5% of the issued share capital upon completion of the Offering.
 
Advisors
 
ABG Sundal Collier ASA and DNB Carnegie, a part of DNB Bank ASA are acting as Joint Global Coordinators and Joint Bookrunners in the IPO (jointly, the “Managers”).
 
Advokatfirmaet CLP DA is acting as legal advisor to the Company, and Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers.
 
For further information, please contact:
 
Media contact:
Geir Bjørlo, Corporate Communications AS
+47 915 40 000 | geir.bjorlo@corpcom.no
 
About Appear ASA
 
Headquartered in Oslo, Norway, Appear designs and delivers high-capacity, sustainable solutions for media processing and live content delivery. The Company’s technology enables the capture, transport, and processing of live video from sports stadiums, concert arenas, and other venues to the viewers within milliseconds, ensuring superior video quality and reliability. Appear serves broadcasters, production companies, content owners and network operators worldwide who rely on its live production technology to deliver the world’s most demanding live productions.
 
IMPORTANT INFORMATION
 
United States
These materials may not be published, distributed or transmitted in the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, Switzerland, South Africa or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the “Shares”) of the Company in the United States, Norway or any other jurisdiction. The Shares 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 “Securities Act”). The Shares of the Company have not been, and will not be, registered under the 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 Securities Act.
 
European Economic Area
Any offering of securities will be made by means of a prospectus to be published that may be obtained from the Company or selling security holder, once published, and that will contain detailed information about the Company and its management, as well as financial statements.
 
These materials are an advertisement and not a prospectus for the purposes of Regulation (EU) 2017/1129, as amended (together with any applicable implementing measures in any Member State, the “Prospectus Regulation”). Investors should not subscribe for any securities referred to in these materials except on the basis of information contained in the prospectus.
 
In any EEA Member State other than Norway and Sweden (from the time the prospectus has been approved by the Financial Supervisory Authority of Norway, in its capacity as the competent authority in Norway, and published in accordance with the Prospectus Regulation as implemented in Norway and passported into Sweden pursuant to the Prospectus Regulation) that has implemented the Prospectus Regulation, this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article (e) of the Prospectus Regulation (“Qualified Investors”), i.e., only to investors to whom an offer of securities may be made without the requirement for the Company to publish a prospectus pursuant to Article 3 of the Prospectus Regulation in such EEA Member State.
 
United Kingdom
In the United Kingdom, these materials are only being distributed to and are 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 document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
 
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 believes 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. The Managers are acting exclusively for the Company 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 advice in relation to the contents of this announcement or any of the matters referred to herein.
 
Neither the Managers nor any of their respective 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. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.
 
Each of the Company, the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.
 
The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.