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Investor relations

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

Reference is made to the announcement on 14 July 2023 where it was announced that Kangaroo BidCo AS (the “Offeror”) had reached an agreement with Kahoot! ASA (“Kahoot!” or the “Company”) to launch a voluntary cash offer to acquire all issued and outstanding shares in the Company (the “Offer”), and the announcement on 27 July 2023 regarding commencement of the offer period for the Offer. The Board of Directors of Kahoot! (excluding its members having a conflict of interest) has unanimously resolved that it has recommended the shareholders of Kahoot! to accept the Offer.

Kahoot! ASA - independent statement

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 PricewaterhouseCoopers AS (“PwC”) on behalf of the Company, cf. section 6 16 of the Securities Trading Act.

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

“Subject to the foregoing conditions and limitations, it is PwC’s Opinion that the Offer as of this date, from a financial point of view, is fair to the owners of shares in Kahoot!.

Please note that we do not express any opinions or recommendations as to whether existing shareholders should accept the Offer. Each shareholder should make its own assessment and evaluation of the attractiveness of the Offer.”

The full statement from PWC is attached to this announcement.

For further information, please contact:

Eilert Hanoa, CEO
Phone: +47 928 32 905

Ken Østreng, CFO
Phone: +47 911 51 686

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