NORWEGIAN BLOCK EXCHANGE Oslo 20 October 2022 -Norwegian Block Exchange AS ("NBX" or "the Company"), the first publicly listed cryptocurrencies exchange in the Nordics, has today decided to cancel the direct placement in favor of a convertible loan (ref market notice 29/9) The board of directors of NBX has today, decided to cancel the earlier announced direct placement, as a result of the development in the industry and financial markets in general. The placement will be replaced by a convertible loan. The decision is based on the recent volatility in the financial markets and the following decline of our share price. Based on this fact, and the fact that NBX does not want to commit the relevant shareholders to an agreement that is now out of the money. In addition, the Board and management have also identified other opportunities that makes it reasonable to postpone the placement. "I believe this is the best solution for the company and our existing shareholders. It feels right to postpone the placement to a time when the markets are more predictable. I am strengthened in my belief that we are to become the leading player in the Nordics within our field, and it is only a question of time before banks and established financial institutions realize the need for our product range and level of security." SaysStig Aleksander Kjos-Mathisen , CEO of Norwegian Block Exchange -------- Contact person:Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 93287572 About NBX Based inOslo and registered with theFinancial Supervisory Authority of Norway , NBX is a publicly listed Norwegian cryptocurrency exchange and custodian. NBX is the first crypto exchange in the Nordics granted an e-money license. In 2022 alone, the exchange had a user base growth of 60%, totaling more than 80,000 users at the end of H1. The exchange offers instant and localized payment methods such as card and Vipps, in addition to a more professional trading experience and insured custody. NBX aims to launch the firstVisa credit card with a cryptocurrency kickback in late 2022. The card solution will be the first of its kind and decrease the gap between traditional finance and cryptocurrencies. NBX offers. to global customers easy and secure access to cryptocurrencies, based on the advanced standards of its reference market: the Nordics. To learn more, please visit www.nbx.com
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