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Thin Film Electronics ASA - Disclosure of Large Shareholdings

Oslo, 14 December 2020

This disclosure is sent on behalf of certain large shareholders in Thin Film Electronics ASA (the "Company").

Reference is made to the announcement by the Company on 20 May 2020 regarding an Extraordinary General Meeting where the shareholders resolved to issue warrants to participants in a Private Placement and Subsequent Offering of shares, and on 30 June 2020 regarding the result of the Subsequent Offering. Further reference is made to the announcement by the Company on 30 November 2020, regarding the exercise of a total of 182,619,709 Warrants A and a total of 7,435,524 Warrants B, resulting in the issuance of a total of 190,055,233 shares upon said exercises, and the announcement by the Company as of today of the final registration of the share issuance.

Tigerstaden AS was issued 45,454,545 shares by conversion of the equal amount of Warrants A. Following the conversion, Tigerstaden AS and close associates will own 100,347,391 shares, representing 10.18% of the Company’s total number of outstanding shares following the conversion. Furthermore, Tigerstaden AS owns 45,454,545 Warrants B with an exercise price of NOK 0.25 per share and which will be exercisable at any time until 20 August 2021 and 35,083,333 Warrants C with an exercise price of NOK 0.25 per share and which will be exercisable at any time between 31 March 2021 and 30 June 2021. All unexercised Warrants represent 8.17% of the Company’s total number of outstanding shares. All shares and unexercised Warrants combined represents 18.35% of the Company’s total number of outstanding shares.

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Alden AS was issued 45,454,545 shares by conversion of the equal amount of Warrants A. Following the conversion, Alden AS and close associates will own 125,012,762 shares, representing 12.68% of the Company’s total number of outstanding shares following the conversion. Furthermore, Alden AS owns 45,454,545 Warrants B with an exercise price of NOK 0.25 per share and which will be exercisable at any time until 20 August 2021 and 40,833,333 Warrants C with an exercise price of NOK 0.25 per share and which will be exercisable at any time between 31 March 2021 and 30 June 2021. All unexercised Warrants represent 8.75% of the Company’s total number of outstanding shares. All shares and unexercised Warrants combined represents 21.44% of the Company’s total number of outstanding shares.

Robert Napier Keith was issued 53,636,362 shares by conversion of the equal amount of Warrants A. Following the conversion, Robert Napier Keith and close associates will own 181,191,870 shares, representing 18.38% of the Company’s total number of outstanding shares following the conversion. Furthermore, Robert Napier Keith owns 53,636,362 Warrants B with an exercise price of NOK 0.25 per share and which will be exercisable at any time until 20 August 2021 and 85,833,333 Warrants C with an exercise price of NOK 0.25 per share and which will be exercisable at any time between 31 March 2021 and 30 June 2021. All unexercised Warrants represent 14.15% of the Company’s total number of outstanding shares. All shares and unexercised Warrants combined represents 32.53% of the Company’s total number of outstanding shares.

Middelborg Invest AS was issued 17,993,008 shares by conversion of the equal amount of Warrants A. Following the conversion, Middelborg Invest AS and close associates will own 73,226,448 shares, representing 7.43% of the Company’s total number of outstanding shares following the conversion. Furthermore, Middelborg AS owns 17,993,008 Warrants B with an exercise price of NOK 0.25 per share and which will be exercisable at any time until 20 August 2021 and 37,416,667 Warrants C with an exercise price of NOK 0.25 per share and which will be exercisable at any time between 31 March 2021 and 30 June 2021. All unexercised Warrants represent 5.62% of the Company’s total number of outstanding shares. All shares and unexercised Warrants combined represents 13.05% of the Company’s total number of outstanding shares.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.