Thin Film Electronics ASA - Disclosure of Large Shareholdings

Oslo, 4 March 2021

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

Reference is made to the announcement by the Company on 2 March 2021 regarding a successfully completed private placement in the Company and the subsequent issuance of 68,922,869 new shares following registration in the Norwegian Register of Business Enterprises. Due to the issuance of new shares in the Company, a certain large shareholder discloses the following information pursuant to Section 4-2 of the Norwegian Securities Trading Act and the Securities Trading Act Regulations.

Upon registration, the shareholding of Middelborg Invest AS and close associates will represent 6.42% of the Company's total number of outstanding shares, holding a total of 71,248,487 shares in the Company. Furthermore, Middelborg Invest 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 will represent 4.99% of the Company's total number of outstanding shares. All shares and unexercised Warrants combined will represent 11.41% 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.