Zwipe AS - Exercise of subscription rights and subscription of offer shares in the Rights Issue by primary insider

OSLO, NORWAY – 1 December 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 30 November 2023, regarding the commencement of the subscription period in a new issue of units (the "Units"), consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). The shareholders of the Company on 22 November 2023 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, as at the expiry of 24 November 2023 (the "record date") was granted one (1) subscription right (the "Subscription Rights") for each share registered as held by the shareholder as of the record date. One (1) Subscription Right is required to subscribe for one (1) Unit.

The following primary insiders of the Company have today, on 1 December 2023, exercised the following number of Subscription Rights in the Rights Issue, and thereby subscribed for the number of Units to which the number of Subscription Rights exercised entitles them to be allocated upon completion of the Rights Issue.

• Jörgen Lantto, the chair of the board of Zwipe AS, has exercised 1,348,145 Subscription Rights and thereby subscribed for 1,348,145 Units, subject to the completion of the Rights Issue. In addition, the primary insider has over-subscribed for a total of 2,920,686 offer shares (i.e. made a subscription for 1,572,541 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 24 November 2023, expected to be resolved on or about 14 December 2023.

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]