Exercise of subscription rights and subscription of offer shares in the Rights Issue by primary insiders

OSLO, NORWAY – 10 MARCH 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 6 March 2023, regarding the commencement of the subscription period in the rights issue of 20,862,047 new shares in the Company (the "Offer Shares") at a subscription price of NOK 4.80 per Offer Share (the "Rights Issue").

The following primary insiders of the Company have today, on 9 March 2023, exercised the following number of subscription rights in the Rights Issue, and thereby subscribed for the number of Offer Shares to which the number of subscription rights exercised entitles them to be allocated upon completion of the Rights Issue.

• Diderik Schoneyder, a board member of Zwipe AS, has exercised 25,302 subscription rights and subscribed for 14,056 Offer Shares, subject to the completion of the Rights Issue. In addition, the primary insider has over-subscribed for 25,000 offer shares (i.e. made a subscription for 10,944 Offer Shares not covered by subscription rights in the Rights Issue). The primary insider is not guaranteed allocation of such over-subscribed shares, and the number of Offer Shares allocated to the primary insider for such over-subscription, if any, may first be confirmed upon the Company's board of directors' allocation of the Offer Shares pursuant to the allocation principles set out in the prospectus dated 1 March 2023, expected to be resolved on or about 21 March 2023.

• Dennis Jones, a board member of Zwipe AS, has exercised 65,228 subscription rights and subscribed for 36,237 Offer Shares, subject to the completion of the Rights Issue.

Please see the attached notifications of transactions for further information.

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This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

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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.

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For further information, please contact:

Danielle Glenn, CFO and Head of IR

E-mail: [email protected]