Huddlestock receives shares for 4.57 percent ownership in Done.ai

6.8.2025 17:23:55 CEST | Huddlestock Fintech AS | Non-regulatory pressreleases

Reference is made to the stock exchange announcement made by HuddlestockFintechAS ("Huddlestock" or the "Company") on 14 April 2025 regarding the transactionagreement with Done.ai - http://done.ai Group AB ("Done.ai - http://done.ai"),listed on Nasdaq First North Growth Market, whereby Done.ai - http://done.ai acquires Huddlestock's Nordic Investment-as-a-Service ("IaaS") platform (the"Transaction").

"The Transaction marks a significant milestone in Huddlestock's strategictransformation," says Leif Arnold Thomas, CEO of Huddlestock Fintech. "Bydivesting our Nordic platform, we have sharpened our focus on Europe andrepositioned the Company around an asset-light, partner-drivenInvestment-as-a-Service model. This strategic shift strengthens our balancesheet, streamlines operations, and allows us to concentrate our resources onscalable growth through Visigon and our European IaaS platform. We areconfidentthis strategy positions Huddlestock for long-term value creation. In line withthe terms in the Transaction, Huddlestock will distribute 20 percent of the Done.ai - http://done.ai shares received in the Transaction to our supportiveshareholders."

SHARES RECIEVED FOR 4.57 PERCENT OWNERSHIP IN DONE.AI - http://done.AI Huddlestock announces that it today has received 3,761,020 shares,constituting4.57 percent of the shares outstanding [1], in Done.ai - http://done.ai. Theshares are received following the conversion of its NOK 56 million seller'scredit note ("Seller's Credit") issued in connection with the first closing ofthe Transaction announced on 24 April 2025. The Seller's Credit was convertedinto Done.ai - http://done.ai shares at a share price of SEK 14 and with aforeign exchange rate of 0.94374.

The final purchase price of the Transaction, including adjustments for netcashon 24 April 2025, has been settled at NOK 79 million based on the agreedenterprise value of NOK 70 million. In addition to the Seller's Credit, NOK 10million of the purchase price was paid in cash upon the first closing. As theapproval by the Norwegian Financial Supervisory Authority ("NFSA") of thetransfer of the shares in Huddlestock Investor Services AS ("HIS") to Done.ai-http://done.ai has been obtained, the second and final closing of theTransaction has been initiated and is expected to be completed shortly. Assuchan additional seller's credit note of approximately NOK 13 million will beissued and subsequently converted into Done.ai - http://done.ai shares at ashare price of SEK 14 and at the prevailing foreign exchange rate at theconversion date. At the current foreign exchange rate, this conversionreflectsa total of approximately 890,000 additional Done.ai - http://done.ai shares.

DISTRIBUTION TO HUDDLESTOCK SHAREHOLDERSIn total, Huddlestock can receive up to approximately 4,651,020 Done.ai -http://done.ai shares pending the foreign exchange rates. 20 percent of thetotal Done.ai - http://done.ai shares received by Huddlestock in theTransaction, up to approximately 930,204 shares, will be distributed toHuddlestock's shareholders. At current market prices the shareholderdistribution reflects approximately 6 percent of Huddlestock's current marketcapitalization.

The distribution is expected to be resolved and completed no later than theendof the third quarter of 2025, with more details to be disclosed in due course.The remaining 80 percent of the shares will be subject to a lock-up period ofsix months from the date of conversion, subject to customary exemptions.

[1] Total shares outstanding in Done.ai - http://done.ai following theconversion of seller's credit notes issued in relation to recent acquisitionsare 82,377,614, with reference to its stock exchange announcement on 14 July2025.

CONTACTS

* Leif Arnold Thomas, Chief Executive Officer, Huddlestock Fintech AS, +47982 15 520, leif.thomas@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock is an innovative technology software provider through itsInvestment-as-a-service offering, with full operational service support and aleading financial Consultancy services business. We deliver innovative andsustainable technology and operational solutions to companies offeringfinancialproducts and services.

Find out more at huddlestock.com - https://www.huddlestock.com/

ATTACHMENTS

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