December 7, 2023

Kahoot! ASA – Conclusion of independent statement related to the mandatory offer by Kangaroo BidCo AS for the shares in Kahoot! ASA

Reference is made to the announcement on 15 November 2023 regarding the launch of the mandatory offer by Kangaroo BidCo AS (the “Offeror”) to acquire all issued and outstanding shares in Kahoot! not already owned by the Offeror (the “Mandatory Offer”).

Attachments

20231207 Kahoot! Fairness Opinion

Pursuant to section 6-16 of the Norwegian Securities Trading Act, the Board of Directors of Kahoot! shall provide a statement on the Offer. Oslo Børs, in its capacity as take-over supervisory authority, has decided that the statement shall be issued by an independent expert and not by the Board of Directors of Kahoot!, and that such statement can be issued by DNB Markets, a part of DNB Bank ASA (“DNB Markets”) on behalf of the Company, cf. section 6 16 of the Securities Trading Act.

DNB Markets has issued their statement on the Offer and has in the statement concluded as follows:

“DNB Markets concludes that the Offer Price is fair from a financial point of view for Kahoot! shareholders.”
The full statement from DNB Markets is attached to this announcement.

For further information, please contact:

Eilert Hanoa, CEO
Phone: +47 928 32 905
Email: eilerth@kahoot.com

Ken Østreng, CFO
Phone: +47 911 51 686
Email: keno@kahoot.com

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